When I last spoke to IR it seemed FAB was doing every thing in their power to get relisted ASAP....which is the exact opposite strategy that I advocate.
After many calls from shareholders, and probably many on this board, it appears to me anyway they have decided to focus on dealing with the short arguments rather than relisting.
What that means is they need to file their 10K in a timely manner and either populate a web site with the Kiosks locations or if competitive reasons prevent that allow a 3rd party to verify their location/existence before the shares begin trading again.
From all indications FAB the business is moving forward without interruption, so IMO who cares if the share price stays halted for another month or two? I suspect the NYSE will support this delay as long as their filings are timely...which the restatements were (which is why they haven't been delisted).
But I would like for anyone that speaks to IR to express their opinion that management should focus and complete at least the above two tasks BEFORE going back to the NYSE and asking them to begin trading.
It is the shorts who are trapped here, not the longs. They bet FAB after the halt would be delisted and be trading on the pink sheets by now where they could cover for pennies on the dollar and move on to their next target. But they were wrong. That's why are resident shortster is so prolific in his posts. He knows his only hope of covering is to scare enough into selling the first day this opens for trading...which the shorts would prefer today at this point (on any exchange). IMO let the shorts scramble to find shares to cover by themselves, why help them out?
The longs are not "out" money as we are not selling until we get a price above what it is currently. If you need cash that bad...you should not invest in ANY stocks. The shorts are truly the ones in crisis mode as the longer FAB is not trading it is just getting worse for them as they know that FAB is dotting the "i"s and crossing the "T"s and will not start to trade until all their exhaustive work is correct and not to be set up as a target as it was a few months ago...trust me on this...
I like this post of yours. Hope you don't mind if I steal it:
"By the way, The Street is not a publication but a blog...anyone with a computer can write a blog and have it posted. The way they allow such garbage to be posted you would think that it could and should be able to have lawsuits against them...It's like Jon Carnes posting. If you don't know who he is read on:The arrests of the Jon Carnes crime family – illegal stock short seller Jon Carnes and his gang members used 14 aliases and 42 various "Yahoo" chat room pseudonyms, duped the NASDAQ, FINRA, the SEC and the New York State Supreme Court: According to investigations by former law enforcement agents, illegal stock short seller "Fatty Boy" Jon Carnes (link) uses a total of 14 aliases and 42 Yahoo chat room names to hide his criminal activities. Jon Carnes's aliases include "Alfred Little", "EOS Holdings", "Andrew Wong", "IFRA", "Quantum Asset Management", "Drew Bernstein", "IFRA Group" and others… In July 2012, Jon Carnes's illegal activities, including fabrication of photos and documents, theft, money laundering, tax evasion, lies to law enforcement officials and corporate espionage, led to the arrests of Jon Carnes's gang members and the incoming prosecutions in early 2013 by two prosecutors' offices against Jon Carnes. Jon Carnes, his Chinese wife Liu Li (a Chinese national) and their fellow criminals may face up to 12 years each in prison. "Fatty Boy" Jon Carnes is currently a fugitive hiding in Vancouver. Jon Carnes made at least $10 million in illicit profits according to this Bloomberg article (link)."
You make good sense to me. I will go on record as saying it will be an Alaskan day in hell before I sell off FAB for under 6. I'm with you. That said, I long to trade again and hope the fun begins in March.
=FAB was doing every thing in their power to get relisted ASAP
That is contrary to what the NYSE is saying. The NYSE says FAB requested the halt and they need to request trading begins again. Somebody is lying.
=who cares if the share price stays halted for another month or two?
Ummm... people who NEED their cash and resent that it is being held hostage by a fraud in order to cover their own backsides.
Doesn't change my life any, but I have empathy for those who can't get their own money. Do you really say "who cares" to somebody who had a car break down and can't get access to their own money to fix it? How about somebody who lost their job and can't get much needed money out of their brokerage account? You sound like Hillary on Benghazi. Those 4 families sure care about 4 dead Americans and she just doesn't get it to be so callous. You share that trait.
=It is the shorts who are trapped here, not the longs.
That's odd. I didn't know the longs were able to sell their shares now and access their own money. I thought they were trapped like everybody else. Each day that goes by is a lower opening price. Explain away your actions and inactions, but when you hold somebody's money hostage you will never have credibility again. They failed to provide a quick resolution like they promised. The attorneys are clearly calling the shots now. Spencer and the BOD are throwing shareholders under the bus to cover their own backsides... it is as simple as that. Call IR and demand they request the NYSE to resume trading or tell the attorneys to amend the complaint to include their intentional harm to you by taking your money hostage. They disseminated their news in an 8-K on 12/10/2013 and have no right to remain halted.
You have a definite motives behind your posts. You are not helping anyone. You are actually confusing the investors. Why don't to fly to China and help FAB in finding all the lost kiosks instead of just complaining? You can boost your "research" right over there... Try it out and then post on this MB. Could you???!!!
="The NYSE says FAB requested the halt and they need to request trading begins again."
That's perfect. This means FAB will trade again. You agree to it. No questions! Your long posts prove nothing. Your motives have no meaning. Let SEC and FAB management do their job...cleanups, restatements, re-listing, etc. This will trade again for sure...
All I can say is.....Wow!
". Do you really say "who cares" to somebody who had a car break down and can't get access to their own money to fix it? How about somebody who lost their job and can't get much needed money out of their brokerage account? You sound like Hillary on Benghazi. Those 4 families sure care about 4 dead Americans and she just doesn't get it to be so callous. You share that trait."
When I stated shorts were desperate, I didn't think any dimwit would go as far compare FAB's halt to a life and death struggle.
Let's hope the rest of the shorts are as desperate as yourself. Because if they are it's going to be a feeding frenzy as the fight with each other to get shares to cover with. Heck, this might open above 10 if the rest of the shorts are as desperate as yourself.
As for everyone else....please call IR and tell them the halt is just fine until enough evidence can be gathered and displayed to counter the short attack. The longer we wait the higher the share price will be when it does open....simple as that.
"That is contrary to what the NYSE is saying. The NYSE says FAB requested the halt and they need to request trading begins again. Somebody is lying."
This is a lie. You obviously don't know how T-1 halts are used these days. First, the NYSE and FAB will not tell you reasons, etc. That's part of a T-1 halt. No one is to know the reason. Bottom line, I think the NYSE is using this halt to run down some anomalies in the short trading and need to vet FAB to do this.