The PUNKs 13d is incomplete. Supposed to include ALL transactions for the 90 days leading up to & after going over 5%.
And the rest is wishful thinking.
The PUNKs avg cost is over 3 times mine !
882,500 shares of common stock purchased in open market transactions for a total consideration of $6,172,300.
Item 4. Purpose of Transaction:
Mr. Schneider believes Premier Exhibitions' common stock is dramatically undervalued at current levels. With a $189mm "tax efficient" sale of the Titanic assets (RMS Titanic Inc.) underway, which will likely net the company $3.30-3.50/share, and a profitable operating business that has experienced a successful turnaround, the sum of parts value can easily exceed $4.50/share. Given the seasonality of the operating company it should not remain a public entity. The company suggested in its most recent conference call that it will be profitable in its current (slowest due to seasonality) quarter and expects to be profitable going forward, and is working on interesting/exciting new content/exhibitions. The company managed to earn nearly two times as much EBITDA (nearly $5,000,000) in the quarter ending August 31st which occurred after the 100th anniversary of the Titanic buzz (quarter ending May 31st) had settled, which speaks to its substantial operational improvement and makes the timing ideal for a sale of the remainder of the company.
Mr. Schneider believes the operating segment of the company can easily fetch $75mm ($1.50+/share) using a conservative EBITDA assumption for the next two quarters without adding value for the upcoming new exhibitions and content which the company mentioned in its most recent conference call. While the company has indirectly hinted that it may seek to sell the operating subsidiary during various press releases, Mr. Schneider would like the company to initiate a public and formal process for monetizing the operating company so as to ensure shareholders that they are receiving maximum value. Mr. Schneider believes the market is completely ignoring the value of the operating business and also misunderstanding the tax consequences of the Titanic transaction. With the Titanic assets well on their way to being sold for an amount that far exceeds the company's current market capitalization, Mr. Schneider believes the best way to reflect the company's true value is to immediately initiate a formal process to privatize or sell the operating portion of the business (Premier Exhibitions).
You are utterly hilarious. So let me get this right. This guy owns 2,882,500 shares. You have become his accountant as well and decided he inherited $ (in another post) this must be because only geniuses like you can earn $5000 that is your original investment in this stock? You own 7000 shs at 70c u claimed many times. He is a punk because his investment thesis is logical and well explained and based on facts? So humorous to see a filing criticized by a sanctioned and fined SEC violator like you Mr Monski. Meanwhile you continually spout meaningless nonsense and act like a tax expert with your $18,000 worth of stock? Funniest thing ever. Get the mental help you desperately need before its too late.