I do not expect it to go to 20. But...consolidation in this space will allow it to go to 6 and beyond. Sooner than you think. My opinion...you did not short the first share.
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Also wondering why they did not do it with debt...or partial debt-cash offer. Company will retain cash...so as a stockholder..although smaller than I was...they would do something positive for stakeholders. Maybe a special dividend...maybe stock buyback. But, why would they buy back stock when issuing new to merge? They may soon announce full ownership that will boost the PPS. Does anyone here truly understand what the final steps to merger and dilution will do to PPS? I am asking because I do not know. Does the extra revenue trump dilution?
chuck.... diz's post is themost intelligent post I have seen here for awhile. He is right...do not know how many times I hear to use options when you want to keep a stock and protect yourself. I have not learned how to do it.
Good info diz....Still need some education on trading options. I am signed up to do so in my account, but have not tried to do so yet. EIA Report due out tomorrow. If we get a pullback below 12, I may buy some shares back. API was negative for oil today, but there has been some disconnect between API and EIA. Gasoline stocks may be below forecast though and may give PEIX a boost tomorrow. I am waiting to go long oil and tomorrow may be the time after report.
I wish all longs luck here. Remember...I still own shares and intend to buy back on pull back. Biff...some of the shares I have sold were pre split. I have done well...although not as well as I should have when we went above 20 bucks. I did sell some and have traded in and out, but feel that there could be some headwinds to the company with the merger short term. I just cannot get my arms around what the dilution will do short term to the company. Good luck to you and all longs.
I will be here....watching. But..I do not make investment decisions based upon yahoo message boards. It is very entertaining though.
Respect you Kelly,,but sold most of my position between today and yesterday. I do not doubt better days ahead for PEIX..but management is not shareholder friendly. Will re visit when we pull back with earnings and macro with oil...refiners. Bottom line for me..the management team does not do a good job of realizing that PEIX is a public company. I was hoping for more activism or potential buy out. Still hold some shares...but sold 75 percent last few days. This company does a terrible job of giving guidance and communication to shareholders.
Nice post Jon..I am also invested in KNDI for the same reasons you have mentioned. China is dedicated to reducing pollution. Not only will China import ethanol, the govt is also encouraging EVA vehicles through govt subsidies. Check out KNDI. As always, do your own DD.
This from 10 Q last March
Subordinated Convertible Notes – On March 28, 2013, the Company issued $6,000,000 in aggregate principal amount of its Series A Subordinated Convertible Notes (“Series A Notes”), and warrants to purchase an aggregate of 1,839,600 shares of common stock for aggregate gross proceeds of $6,000,000. On June 21, 2013, the Company issued $8,000,000 in aggregate principal amount of its Series B Subordinated Convertible Notes (“Series B Notes”) for aggregate gross proceeds of $8,000,000. The warrants have an exercise price of $7.59 per share. Of the warrants issued in the transaction, warrants to purchase 788,400 shares of common stock expire in March 2015 and warrants to purchase 1,051,200 shares of common stock expire in June 2015. The net proceeds of these offerings of $12,560,000 were used to (i) purchase $6,665,000 of the Plant Owners’ debt maturing in June 2013, the maturity of which was also extended at the time from June 2013 to June 2016, and of which the Company immediately retired $1,122,000; (ii) acquire an additional 5% ownership interest in New PE Holdco; and (iii) purchase and immediately retire an additional $3,500,000 of the Plant Owners’ term debt.
Unless converted or redeemed earlier, the Series A and B Notes were to mature on March 28, 2014. The Series A and B Notes bore interest at 5% per annum, compounded monthly. All amounts due under the Series A and B Notes were convertible at any time, in whole or in part, at the option of the holders into shares of the Company’s common stock at a conversion price (“Fixed Conversion Price”), which was subject to adjustment as described below.
The Series A and B Notes were initially convertible into shares of the Company’s common stock at the initial Fixed Conversion Price of $15.00 per share. If the Company sold or issued any securities with “floating” conversion prices based on the market price of its common stock, the holder of a Series A or B Note would have the right thereafter to substitute the “floating” conversion price for the Fixed Conversion Price upon conversion of all or part of the Series A or B Note.
From 2010 through 2013, we issued in various financing transactions warrants to purchase shares of our common stock. The warrants were initially recorded at their fair values, which are adjusted quarterly, generally resulting in non-cash expenses or income if the market price of our common stock increases or decreases, respectively, during the period. Due to the substantial increase in the market price of our common stock in the first quarter of 2014 and because the exercise prices of these warrants were, as of March 31, 2014 and September 30, 2014, well below the market price of our common stock, the fair values of the warrants and the related non-cash expenses were significantly higher in the first quarter and first nine months of 2014 than in the comparable prior periods in 2013, which resulted in unusually large non-cash expenses for those periods. These fair value adjustments will continue in future periods until all of our warrants are exercised or expire. These adjustments will generally reduce our net income or increase our net loss if the market price of our common stock increases from the prior quarter through the date of a warrant's exercise, if exercised during the quarter, or if our common stock increases on a quarter over quarter basis for warrants outstanding at the end of a quarter. Conversely, the adjustments will generally increase our net income or re Less
Kelly..of topic...but there is not much talk of impact of warrants with Q 4 earnings. The 10 Q stated 800,000 remaining and as long as the PPS is below 18 it is positive to earnings. Any guess as to how many may be left to exercise?