This has been an investment tragedy.
There are those with the necessary financial knowledge who could have answered a few simple questions.
But this website is a cheerleader contest with an occasional visitor looking for investing info.
I saw great potential in this situtation and it had nothing to do with O ever coming back.
Most important question I had:
If I own 100% of the stock can anyone exercise a put?
This is a serious question. The answer could mean hundreds of millions.
There are only 37.5 million shares. At $1 a share its a $37.5 million dollar investment.
There were nearly 16 million shares short. THIS WAS THE PRIZE. hundred$ of million$
At May expiration there were only 83,000 call contracts.
There are no bondholders waiting in the wings to steal it through bk.
There are no employees and not much costs.
I needed a way to prevent the BOD from seeking BK so I asked
Can the company declare bk if there was a bid to buy it?
There's even one MORON who claims to have advanced degrees in business and mathematics from a top ten school.
Look grey I mentioned you here in the last sentence.
You and your short horde have worked overtime keeping investors stress to the point of selling.
(the rest of this post has nothing to do with your slimy venomous self)
I thought this was a once in a lifetime event but over the past year I have seen the scenario repeated though not to the extent here with affy. Some of the questions I had ask then have since been answered by Bill Ackman in his pursuit of Allergan. Apparently is it possible to get around the 5% reporting requirements.
My goal here was to create the ultimate short squeeze aimed directly at short sellers, those legal thieves I have repeatedly mentioned here. As individual investors we lack the knowledge of what exactly is in store for the companies in which we invest and risk our retirement savings. With the short interest below 3.5 million before this announcement I'm sure when the figures that will include recent activity will show a significant drop there too. This is well below the high of 18 million last year along with the exclusion of writing opening options contracts makes affy an unattainable dream.
To those who buy before they sell I wish you best of luck in your future investing and in life. To those who have sold short I hope you take time to think about what you are really doing and change your ways. To those shorts who go the extra mile to discourage and instill fear in shareholders I hope we cross paths in the future when I have found the necessary support to return the nightmares and ill will you have dished out.
I didn't post the details so the "top ten advanced degree in business and math I never lie but still can't admit short sellers do damage"(that's a mouthful) greything wouldn't get to see what he was missing.
3300 was not a typo, I believe if you want a greedy program to do what you want (sell you all the shares) you just have to give it the idea its making money at the opening of the trade.
Remember owning 100% is not all the shares. The shorts had created another 42%.
Tom, sorry I thought I addressed this earlier. And I'm not exactly sure I quite follow what you're asking but let me take a stab at it.
1. If you were to own 100% of the stock as long as it remains listed puts/calls can be bought, sold and exercised but there would be no price variations other than what you as sole owner controlled. And in all likelihood you'd probably take it private, right?
2. The BOD could put in various forms of "poison pills" including being able to issue more stock. BUT again if you owned 100% (or even controlling interest) they would need your "shareholder" approval. Now they certainly could put these in place once you passed the 5% ownership threshold and had to file your ownership with the SEC. So I guess it would depend the method under which (and speed) you acquired your 100% or controlling interest. I have NEVER seen bankruptcy used as a "poison pill" .... see #3.
3. If there was a bona fide bid to buy the company not only would the BOD be crazy to try to declare bankruptcy (absolutely no point unless you've got one figured out that I've never seen before), BUT they would almost instantly sued by shareholders (especially the large institutions) and even in the midst of a bankruptcy procedure, the court would be required to examine the offer in light of the current financial standing and the bona fidas of the offer. So NO there is no need to prevent the BOD from declaring bankruptcy since it would never stand IF there was a legitimate offer (prior to a filing or even during a proceeding). And by legitimate offer, there would need to be fulll certification that there were funds secured, on hand and held for the acquisition.
Again, I'm not sure I quite get your questions but did my best to answer what I could. If you have more questions or require clarification (or want to clarify your questions) please do and I will do my best to answer.
BTW, what exactly are you planning here??? Do it fast IF !!!
Thanks Max great job you're doing here. I know you've said you don't deal much with options.
My concern was bk filing would stop the opening contracts just as the delisting has.
With the delisting the possibility has past but try the math. And since it can no longer be done
here's what was my "Delusions of grandeur".
As I have said previously I am short puts. Not many since I was stopped by the delisting.
Affy options run as high as $40 in the Leaps.
Before the delisting news the puts were selling with a premium that's important.
Selling the Jan2014 ....The details have been sent to your email...
It was within your reach to save affy but your mesmerized by the relaunch of O.
Affy was not a single product company. Unable to see what was glaring in front of you you failed to consider that the short position could be worth more than the anemia drug and in a very short time that has since past.