I just figured it out dumbass.
At first glace it appeared in trouble with Telmex but go to SEC files and see that they already changed their name to PROVO and from my experience that means the DEAL IS A GO. I have learned a lot about this company in the past 24 hrs thanks to the internet and feel it is a good buy for Monday morning. Namely if Telmex wants to get paid they will allow this to go through uninterrupted. Buyer beware of course but, will leg in on Monday.
COULD CARE LESS IF IT GOES DOWN SO BASH AWAY, DO NOT OWN ANY YET
I think you make a lot of sense. It even looked like a "painted tape" at close. Tried as hard as heck to touch .25 today but, the depth of orders pushed the ask right back up again. Did anyone notice this today? I think very significant day of trading here today. Great post by the way!
In rder for the deal to work I think they have to keep it at these levels because we are getting better entry price here than the insiders but, what would I know? I noticed the ask moved back to .27 when pikers came to bid .25. this is a good test today but, when the news comes that shareholders ratified the structure then look for the run to start
6.1 million to TelMex for one and they make threats to not supply Provo going forward so maybe Frontline management is using those 5 million shares, the so-called "administrative associated cost with acquisition" shares, to pay it back at FNT shareholder's expense =>don't go near this "pay Telmex back" dump
at some point they will have to stop dumping their converted E shares to prepare for the reverse split since they can't have the stock go too low which might scare the Mexicans from completing the deal
also noticed they already filed the form 3's late in December
I think it might go as low as .14 if they keep it up at this rate
seemed to be 6 times as many offerred than bid all day and then they paint the tape at close of course to attract some spec idiots