The deal went through. I emailed IR and they emailed me back that the asset sales announced on there june 10th press release all closed before the end of june. Threre will be NO additional announcement on this.
Your 100% right. IR contatced me with a reply that the June 10th press release of asset sales all closed. Approx 1.3 million. Debt 600 million now. Happy about that.
Think they will announce the balance of the asset sales that they were working on before the new ruling and may have worked it out and have gotten approval. The deal was done and it just had to be approved by the commission. This deal was prior to the new rules .
What news? Becuase they signed a reseller agreement. What are the terms costs etc. This company has less then 2 quarters of cash left to fund operations. All they have done is swap warrants and stock for years. They continue to bleed cash even after getting funding. Who in there right mind now wpuld either lend or invest in this piece if #$%$. They did very little volume and I saw the formwe CEO had a million dollar salary. Does that make sense. His salary was approx., 4 to five times then the total revenue. I also had said when they had their reverse split it was a good time to SHORT as everythhing was done with smoke and mirrors.
Once they burn through the money on hand they are done. If they concentrated on business instead of all the stock, warrants and reverse split that they thought would boost the stock maybe they would have had a fighting chance, Justs look at the history of this company, current sales and overhead and you can see that this is nothing but a train wreck. . If and I say if they all of sudden get robust sales who in the right moind is ging to finance this for them. They are going to use up the 15 million they got within the next 6-9 months with the burn rate they have. Stay away.
The USA has to start to put distance bewteen the Saudi's and USA. The USA has been covering there back for too long. There is nothing we have in common with these people except Oil. The Suaid;s think they are going to threaten the USA regarding how involved they werein 9/11. It;s an outrage that we support this monarchy which has created nothing but problems in the world with there OIl. Now a new insight into
9/11. How can we continue ti support them as we have in the past. Let them pump and we should tax any
OIl coming from them. It's tiome to put t hem in there place once and for all. Doha was a joke .
Sure it will. They will be out of cash in less then 12 months. They will create more stock and swaps and of course losses. This is a losing company. 75 reverse split and the stock is at 20 cents. Pathetic.
The stock is trading at .0041 cent of its reverse split price, This was a perfect short. All there warrants, stock etc switching back and forth for years. They burn cash like crazy and have very little sales and big losses. How they got this far is just manipulation in my opinion. I thought this was a perfect short from the beginning when they reverses split this company. I don't see why it should be trading higher to be honest. 31 cents or 75 cents does it really matterat this point. Where are the sales and profits that's the question.
I sold 90% of my position over 1 1/2 years ago and sitting with a few thousand shares left which I am holding at a loss. I knew she was a disaster and at the last Davos get together she was a non entity amoung her peers. She is a veryintelligent person but not the kind of person to be running a bank like Santander. To my dismay, the stock has done nothing but go down. If t he CEO was an outsider he or she would have been gone. That's why it's better to stay away from family run companies after the person who built steps aside or dies. She is not strong enough especially with Wall street to be looked upon as a person that will make things happen. She has had enough time to show what she can do. Time for her to step aside and her someone who can take this bank to the next level,
As per Evans it was just about finalizing. I am sure there was more then one deal for the asset sales. Now would be as good a time as Oil may keep dipping. The price should not be that different as they do not only go by current Oil Prices and I am sure they were discounting to begin with. He needs to lower debt asap and clean up the balance sheet to survive.
As per CEO Evans last CC he stated that they were finalizing asset sales that will be done by the end of the year. Well there is only 15 days left. Taking him at his word we should see something any day now.
Looks like an announcement of another sale coming
A press release should be forthcoming very soon as per Evans last CC stating that thye would close on asset sales in Q4. Realizing that the Oil market is in dissaray due to Opec my hope is that because things are not very ghood right now Evans should be out front about how the company is doing andexecuting on what he has been saying regarding reducing debt through asset sales. When things are bad a good CEO gives more updates to keep shareholders informed as to how the company is doing. Will he is anyones guess.
How much longer do shareholders have to have the patience of a CEO who has done nothing for the shareholders. You can say what you want but she has demonstrated her lack of leadership and SAN is regarded by wall street as a non event company. She has not adopted to the times and Brazil is headed for a deep recession even with their high interedt rates they charge. Botin has not convinced the market that she has the ability to change things for the better and has had plenty of time to show what she can do. Not one thing in her plan has made the stock better. If she did Wall would have taken notice. To sit and watch this stock on a daily basis go no where is not what I think all of us thought when she took over from her father. He was light years smarter then her and now the stock can go even lower with her sitting there in the CEO seat. She needs to resgin and bring in someone who wall street respects.
I also served during Vietnam, a war with no meaning or purpose except to kill and mame. What is going on today has real meaning in that I view this as the enemy that wants to destroy our way of life and leave no one standing. They use religion as a way to lure and dictate everything contrary for people to live a peaceful and happy life. The Middle East has always been a problem but today the extent of that problem is far worse then ever. There is no leadership from the western and civilized world in how to deal with it. Everybody is blaming everybody else but no real plan or action to end this has emerged. I know one thing from being in t he military and that is without a rout of these fanatics it will not stop and now it is not contained so everyone is in real danger so action must be taken. On top of this you have the Saudi's trying to mainatin market share which in todays world of new tech and more coiuntries drilling is not possible. Opec controls 40% of the OIl in the world now but it's obvious that the future for maintaining that is not in the cards. They have also hurt the worlds economies by NOT stablizing Oil prices which was also the task of OPEC and should not be allowed to continue to dominate. They have been in my opinion reckless and I think for the USA part we should send a strong message that we will start exporting Oil to the rest of the world and also subsidise if necessary to counter them trying to put our producers out of business.
Remember every Oil job is approx., 4 normal jobs. I am not saying that we should 100 dollar OIl but anything between 55-70 is a fair price for companies to keep people employed, exploration and for cpmpanies to stay in business. Remember The U.S. and Canada have plenty of reserves too and don't need the Saudi's and Kuwait and the UAE to remind us of how they control this commodity. We need leadership in this and in our foregin policy which has become so complicated .
I really do not believe the Saudis will do anything. They think they are king kong. We need to start not letting them dictate to us anymore or they can defend themselves. The quicker the better.
The only arab countries that could sustain cheap Oil are UAE, Qatar and Kuwait, The Saudis need 118 Oil to fund their social programs or the people can have an Arab spring. They are losing 500 million per day now trying to control share which they won't at the end of the day. People are getting fed up with them and the whole middle east situation. Iran is waiting in the wings to start troubke for them if the USA backs away. Nice they are trying to bankrupt our producers and we support them. Does that make sense. I think the tide is starting to turn against their Royal regime that lives in the 1500's.
Don't count on them to help on anything. They created this mess. Why we support medevil regimes is beyond me. Obama should lift t he ban and let producers export Oil. We owe the Saudi's nothing and have been protecting them for too long. They are arrogant and think they can push the U.S.A around. We should teach them a lesson and flood the market with subsidies if need be. They have put the whole western world in turmoil.
There is less then two months left in the year and according to Evans from his last CC in which he said he finishing a 100 million deal and has 450 million on the table to sell of which 300 million will be done by year end. If you think this will happen you know what to do. Also I do thik that the Saudi's will look to stabilize prices soon. They are losing 500 million per day and it would be better to find a price that will not re-start fracking and cut their daily loss down. They have approx 5 years or less of dollar reserves and it does not make sense to push the envelope. If Oil settled in the 50's it will help them and others or this can get way out of hand. Opec and non Opec are pressuring them and at some point they have to listen or take action or Opec will be finished. They acconlished already what they wanted and to destory all the members is counter to what OPec is about.
Sentiment: Strong Buy