gprice999 also said YONG was going private. They have been halted for over a month. He also said NEWN was going private. They announced going private for $1.30 and then backed off that and are now halted at .17. He said WH was going private. This has been dragging on for a long time and nobody understands the viability of the deal. He also said ABAT was going private. They have been dark for going on 2 years and are down to .19.
He just doesn't have a very good track record:
gprice999 • Mar 4, 2013 11:46 AM Flag
YONG, WH, NEWN, SCEI (unofficial) and next is ABAT
What was his time frame?
gprice999 • Mar 11, 2013 11:37 AM Flag
ABAT will announce going private deal in a few weeks. Their recent actions provide plenty of evidence to that ending. YONG will announce the finalization of its deal in the next week.
Too funny that YONG gets halted the same week he predicts their deal will be finalized.
If management does not very shortly resume regular operational and financial updates to all shareholders, our group very likely will shortly file a Form 13D. We already own just under 5% of total shares outstanding.
I'm a little confused by your plans... a 13-D is simply the required filing when you (or your group) acquire more than 5% of the shares. But the management already knows who owns the shares -- so telling them that a group of you have shares that add up to over 5% is meaningless to them.
If you're planning to file an intent to acquire a majority interest, or intend to gain membership on the Board, that's a different matter... (though given the share structure of how many shares were sold to the public on the US markets, I doubt it is possible for you to buy enough shares for control) but honestly, I think if your "group" offered to purchase significantly more, the PIPE investors would probably be thrilled at the chance to liquidate their holdings in a holding company that no longer is listed or files financial statements.
I guess the part I'm missing is the implication that filing a form stating there are shareholders who own 5% is somehow supposed to motivate the management to act any different than they have already decided to behave -- that is, to ignore you.