the financing announcement today. A group of outside investors were willing to pay $2.37 a share. Now I'm almost sure that this investors group is not in the business to lose money - Sooooo - certainly think the price will appreciate from here..... This is a nice spin on the events of today from Kas of the RB board.
By: kasmarski 06 Aug 2003, 06:47 PM EDT Msg. 42195 of 42196 (This msg. is a reply to 42188 by plantmeister2000.) Jump to msg. # OT/ The Traskdaq! Ha!!! Yep, Trask floated SCKT up.... .... over $1/shr and back on the Nasdaq and those set of investors got their shares @.72/shr as I recall. So for that bunch, they could pick their sell point anywhere between $1+/shr and $3.30+ on 7/31/03. How many sold and how many held is anyone's guess. Investing requires a sell at some point to realize the gain.
OK, then Trask puts together a new set of investors (some could be the same people) and gets the deal @$2.37/shr generating $4.1MM for SCKT (net $3.6+MM) for 1.73MM new shares issued. Folks that didn't know about SCKT @.72/shr are now willing to pay $2.37/shr to see what happens. Wonder what their sell point will be, but they've got to wait 45 days before the shrs are registered. Hmmm?
So what does the retail investor/reader of this here SCKT RB message board get? Well, a chance to BUY SCKT shrs anticipating that this new money will appreciate also. Spencer Trask must like SCKT's answer to the CC question it posed. Or its them patented tea leaves randomly strewn hither and yon. --- KAS eom.
As stated here before. How long ago was this deal cut? If I was going to put $4+ mil into a company I would be sure that I was getting a very fair shake. Which I would feel should be at least 10%+ less than the current value, that my experts quoted, not the company.
The MMs and smart money took all the shares that people wanted to give away. They now have enough to put the price wherever they want.
Do we actually have a date on this Trask float? How long did this announcement set in the pipeline, since it was presented at the most opportune time to take this stock down. How many times have we seen this in the past, many times. lol