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Pro-Dex Inc. Message Board

  • mulligan994 mulligan994 Oct 21, 2009 8:47 AM Flag

    Coss again on Monday.......time out !!

    After selling another 17,000 on Monday Coss seems to have taken a breather, hopefully for awhile. This sort of constant selling is a real negative to would-be-buyers of the stock as they know damn well that the minute they buy in, Coss can dump again and they will find themselves on the short end of the stick. It is especially true in a stock with so few shares outstanding which compounds the problem.

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    • Is there some reason the company can't - or won't buy out Coss' holdings and thus let the stock loose to ride up in freedom from this 800# gorilla. Also, any news on the reverse split talked about earlier this year?
      Beancounter04

      • 2 Replies to beancounter04
      • Thanks for your comments. But I wonder if it really is a tax matter for him as he has been selling for months now almost every week all the market could absorb. I'm surprised there has been virtually no comments from questioners or the company at recent CCs.
        Beancounter04

      • First of all, Coss probably doesn't want to sell out his entire position and face a huge tax problem at yearend. It is obvious he has a time plan in place which furnishes him with capital as he sees fit. On your second point it is my personal opinion that PDEX wanted to have the green light on a reverse split should it become necessary to meet a demand by NASDAQ to meet the requirements of the "$1.00 rule" or sink to a listing on the OTBB, God forbid. NASDAQ at the time in that terrible market had many many companies fall below a buck and so suspended it to let an improved market heal the wounds. I feel confident now that a reverse split will not be necessary as our stock price improves and NASDAQ is maintaining it's hands-off policy for the time being. If they did decide to reinstate it they would issue PDEX a 180 day time period to get in line and certainly by then we are over a buck. Hope that answers your question and remember this is only my opinion.

 
PDEX
2.43+0.06(+2.53%)Jul 2 4:00 PMEDT