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Finjan Holdings, Inc. Message Board

  • egiscodr egiscodr Feb 28, 2009 1:35 AM Flag

    Toxic financing

    I used to be a long in this stock until I saw this recent fiancing. PLEASE, ake what I am saying seriously and do your research.

    This new financing is referred to Death Spiral financing. This is the EXACT scenario that you uys are in now. If you are looking for a bottom, you may not find it until this debt is gone.

    Make your own decisions. My only purpose is to iform those who do not understand how bondholders and toxic financing work. This is being painted as 6-months free financing by some here. Be wary of these posters.

    PLEASE PLEASE PLEASE do your own research. Start with this Wiki article and tell me if any of this sounds familiar.
    <<http://tinyurl.com/8wu67>>

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Can you explain that again?

    • Or just a few with multiple ID's!!!" Wrong Again!" must be the battle cry of the reading comprehension impaired. But that's been the whole pump schtick for COIN for the last 8-10 months. Ignore a few words and voila!, it's great news!

    • This board has an epidemic of idiots.

    • That's why he's known as "stinky The Wonder Briar".

    • lol lol

    • Wouldn't want to be in their shoes.

    • soar_big_bird_soar soar_big_bird_soar Feb 28, 2009 10:38 AM Flag

      Death Spiral again LOL These are restricted securities they come with a 6 month holding period and IF they are hedged the holding period for selling them IS ONE YEAR.

      What Are Restricted and Control Securities?

      Restricted securities are securities ((((acquired in unregistered, private sales)))) from the issuer or from an affiliate of the issuer. Investors typically receive restricted securities through private placement offerings, Regulation D offerings, employee stock benefit plans, as compensation for professional services, or in exchange for providing "seed money" or start-up capital to the company. Rule 144(a)(3) identifies what sales produce restricted securities.

      Holding Period. Before you may sell any restricted securities in the marketplace, you must hold them for a certain period of time. If the company that issued the securities is subject to the reporting requirements of the Securities Exchange Act of 1934, then you must hold the securities for at least six months. If the issuer of the securities is not subject to the reporting requirements, then you must hold the securities for at least one year. The relevant holding period begins when the securities were bought and fully paid for. The holding period only applies to restricted securities. Because securities acquired in the public market are not restricted, there is no holding period for an affiliate who purchases securities of the issuer in the marketplace. But the resale of an affiliate's shares is subject to the other conditions of the rule.

      http://74.125.47.132/search?q=cache:SpEyebaee6sJ:www.sec.gov/investor/pubs/rule144.htm+private+placement+restricted+securities&hl=en&ct=clnk&cd=3&gl=us&client=firefox-a

      • 3 Replies to soar_big_bird_soar
      • "The Amendments also provide, that at any time prior to the amended maturity date, the Debenture holders may convert the principal amount of the Debentures into shares of Company common stock at the default conversion price included in the Debentures, calculated as of the date of any such conversion, such default conversion price being equal to 70% of the average of the three lowest closing prices of the Company's common stock during the twenty-day trading period immediately prior to the notice of conversion"

        Even if I am wrong about Death Spiral financing, though I do not believe I am, this part of the agreement leads to a lower share price up until at least June.

      • soar_big_bird_soar soar_big_bird_soar Feb 28, 2009 11:54 AM Flag

        Sorry Davie, as I am sure that you have heard many, many times before....WRONG AGAIN!

        PR: Sources Rule 506 Regulation D. AND Section 4(2)

        The issuances of the Company common stock in connection with the agreement to execute the Amendments and in connection with the conversions of the [[Debentures were completed pursuant to Section 4(2) and Rule 506 of Regulation D]] of the Securities Act of 1933, as amended (the "Securities Act"). The Company determined based on representations of the Debenture holders that the Debenture holders were "accredited investors" as defined in Rule 501(a) under the Securities Act.


        http://74.125.47.132/search?q=cache:MTKRqiqJxGMJ:www.sec.gov/answers/rule506.htm+Section+4(2)+and+Rule+506+of+Regulation+D&hl=en&ct=clnk&cd=1&gl=us&client=firefox-a

        Rule 506 of Regulation D

        [Rule 506 of Regulation D is considered a "safe harbor" for the private offering exemption of Section 4(2) of the Securities Act. Companies using the Rule 506 exemption can raise an unlimited amount of money. A company can be assured it is within the Section [4(2) exemption by satisfying the following standards:]


        Section 4(2) and Rule 506 of Regulation D

        Section 4 -- Exempted Transactions

        The provisions of section 5 shall not apply to--

        1. transactions by any person other than an issuer, underwriter, or dealer.

        ((((((2. transactions by an issuer not involving any public offering.))))))

        http://www.law.uc.edu/CCL/33Act/sec4.html

      • What a surprize! The rebuttal comes from Big Bird, our glue sniffing, crank smoking penny stock guru! How's spng.ob treating you? Let's go back and read the 8K about the bond amendments. These are not restricted shares as evidenced by the plummeting stock price.

    • bump.

    • Boy are you in trouble now! Dunno Doodah is going to declare you a traitor, Skiduddy will declare himself your worst nightmare and Perfesser Hogwash will post a major disertation complete with 8 links that no one reads. All your long friends wll shun and ignore you and continue pumping all the way down. Welcome to the dark side!!!!

      • 1 Reply to daveyw43
      • <<Boy are you in trouble now!>>

        No, daveyboy...I think it's YOU who is the one in trouble!!!

        What a f u cking idiot!!

        ====


        Re: The Great Blue / Davey Trading Challenge
        27-Jun-08 03:48 pm


        excellent job, Blue! I'm probably closer to -30%. Haven't cared to check lately. What is your opinion of ALD? I've considered the purchase of David Einhorn's book.

        daveyw43

        ==============


        Re: Update Tech Analysis
        21-Jan-09 07:38 am

        I've picked up a small position in BHBC hoping for the January effect just recently.

        daveyw43

        =====

        Form 8-K for BEVERLY HILLS BANCORP INC

        23-Jan-2009
        Notice of Delisting or Failure to Satisfy a Continued Listing Rule or S


        Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
        On January 22, 2009, Beverly Hills Bancorp Inc. (the "Company") notified The Nasdaq Global Select Market ("Nasdaq") that it intends to delist its shares of common stock, par value $.01 per share. The Company's common stock is currently traded on Nasdaq under the trading symbol "BHBC"
        This is the first step in the process to cease being a reporting company. The Company has fewer than 300 shareholders of record, and the Board of Directors has concluded that the cost of being a reporting company outweighs the benefits to the shareholders.
        In accordance with the rules of the Securities and Exchange Commission ("SEC") and Nasdaq, the Company intends to file a notification of removal from listing on Nasdaq on Form 25 with the SEC on or shortly after February 2, 2009. The withdrawal of the Company's common stock from listing on Nasdaq will become effective 10 days after the filing of the notice on Form 25 with the SEC. The Company does not intend to arrange for the listing or quotation of its securities on any other securities exchange or quotation system.
        On or about the effective date of the delisting, the Company plans to file a Form 15 to deregister its common stock under Section 12(g) of the Securities Exchange Act of 1938, as amended. The Company will cease making periodic reports as soon as such filing obligations are suspended in accordance with the Securities Exchange Act of 1939, as amended. The deregistration of the Company's common stock will become effective 90 days after the filing of the Form 15 with the SEC.

 
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