The share price go up.
Hope its not a play from the major holders to raise the price so they can sell little at a time, but it is from investors realizing that the dissolution of the company is worth more than the current market price or the est. from IB or Yahoo. Would love to hear from anyone with connection to the forthcoming dissolution.....
they had something in the bylaws about nobody getting more than 5% of the company but I just saw a 13g for Renaissance Technologies LLC indicating a 7.9% ownership ~~ 3.5mil shares so who knows what's going on ... IB has the same book value of .38
I read somewhere that the regulations for ENZN made it very difficult if not impossible for any type of take over or sale of the company to take place. I think eventually it will need to dissolved, I was just hanging in to collect the special divs. They do not have sufficient cash flow to operate and doesnt make sense for it to continue with the royalties getting smaller each quarters. I just hope the dissolution will be favorable to the common share holders.
I'm surprised. Was pretty sure they would have come up with a merger/reverse merger deal...this is a perfect vehicle for that type of transaction. Seems silly to dissolve a trading reporting Co with an extensive shareholder base...i'll hold also
I wouldn't put too much "stock" in Yahoo's opinion. I don't even know how to begin to put a value on the stock since they would have to sell then paid debt and follow the disbursement structure. Whatever is left is given to the common stockholders. I don't have any idea how much the stock is worth, but I am not planning to sell. Rather wait for the dissolution. I am hoping that the major stock holders will do right to the common shares holders in this process. Would be good to hear from someone with more knowledge about the company as to the value of the shares after dissolution. In my non-professional opinion, it should be around 50 cents.
According to Yahoo the book value of this company is only $0.38 per share. I find that hard to believe. If they sell off all the rights and patents to all of their drugs this is what the shareholders are going to get? Sell now or wait until the end? Opinions?