The "unofficial word" is that the deal was finalized on Monday of this week. CEM has been sold. I personally don't yet know to whom for certain but it has been "unofficially" confirmed from the inside that it's done and it was one of the big players. Announcement soon. And this is not an attempt to pump it up. I don't care what happens to it. I no longer have a stake in the corporation.
listen if pions like you and I..even got word of this don't you think for a second that institutions would be in the know too???
Do you know what would of happened to the pps and volume for that matter if what you are saying is true..if institutions had knowledge of this? YES that's right, the pps would not be flat lining at 15 cents!
good luck to you!
so on Monday everyone sold their stock cuz the co was sold, for no doubt more $$ than the .30 or whatever the shares were that morning ... ?
of cousre, you have no idea what you're talking about :)
If its "done" it may well be a take under or a cash infusion for preferred type shares. In other words, effectively nothing left for current shareholders.
Two things give credibility to this post: 1) the stock was cut in half Monday, indicative of complete capitulation by those with insider knowledge.
2) No subsequent rebound on Tuesday/Wednesday.
Two things makes makes it not credible: Who is the "messenger?" Somebody named zzz90210? And what news is it: A big player for an unknown amount? I have seen more content in last weeks WSJ (of course you have to read the entire paper to get more content, but if you look hard enough you will find it).
I hope you are right. Perhaps the rumor is really just an asset sale and the bondholders need time to review the sale to give their approval. I was just looking at ETrade's bond price on the issue with maturity in 2016. Looks like a wide spread Bid 460 @ 20 v. Ask 10 @58.
So regardless of what you say about the rumor. The bonds are a steal if they get sold in the 20s range like they did earlier. I got 9 for 36cents on the dollar. My average price on the common is now 30 cents. If there is any good news, common should shoot up minimum to $2.