:You should include the fact that this article is from July 13, 2009.
You should take what management of this REIT says about equity offerings with a huge grain of salt. These are the same group of people who manage Commonwealth REIT.
Here's a snippet from a conference call on 5/6/2011. I think it was an earnings conference call.
"John Guinee - Stifel Nicolaus: Then the third question is historically, whenever you've gotten above 49% or 50% debt to total book capitalization, you go back to the equity markets. This time do you think you'll do preferred or you think you'll do common?
Adam D. Portnoy - Managing Trustee and President: It's a good question. I can tell you that we have a lot – you can do the math and you've done the math, we have – if we close on everything in the pipeline just on our revolver loan, it will be between about $550 million and $600 million, out on a $750 million revolver. We probably would look to do some refinancing of that later this year. We have lots of options. I point you to the fact that we also own just under 10 million shares of GOV, that's a possible source of liquidity for the Company. I'll point you to the fact that we are selling some properties and we may be selling more properties as the year goes on, and I think that we would – I don’t take equity off the table, but I obviously look at where our common stock price is and don’t feel great about issuing equity at this price, but obviously I don’t rule out anything, but in the talk about preferred, it’s something that I think it's something that we would look at. It’s something we probably look at doing before we would think about common, but I can’t guarantee we would do it before we would do common, but I agree that preferred is probably higher up the list of things we would consider before we would do common, yes."
Commonwealth REIT issued 11.5 million shares on 7/12/2011. The price on 5/6/2011 was $ 26.05. The shares were offered at $ 24. The dilution was about 15%.
Don't forget reappointing Morea to the board after the shareholders voted him out.
Was wrong about Yahoo allowing links. Both attempts disappeared into the Yahoo censor's black hole..
Re: Zhone, I was wondering that as well.
You can listen to the webcasts of those conference presentations. At the events area of the Calix web site investor relations page, there is a calendar. Above the calendar, click on the past events link. Then click on the date of the presentation. The name of the conference is a clickable link which takes you to a page where there is a link to the webcast.
Someone on another board suggested that Yahoo is allowing links again. I'll post another reply and test that.
This wasn't Ochs. For the past few weeks, the spammers have been copying old posts. They copy one old post, then post a spam, then copy another different old post. Yahoo seems to have finally caught on, because the spam is being deleted, but the copied posts remain.
The best place to look for information about the Metabasis CVRs is in the latest 10-K filed on March 14, 2013.
Toward the end of the 10-K there is a list of exhibits. If you do a text search in the 10-K for "Metabasis" you'll find them. Here's one:
TR Beta Contingent Value Rights Agreement, dated January 27, 2010, among the Company, Metabasis Therapeutics, Inc., David F. Hale and Mellon Investor Services LLC. (Filed as Exhibit 10.2)."
The number in parentheses, 63, refers to another footnote, a list of which follows the list of exhibits. Here's that footnote:
"63) This exhibit was previously filed as part of, and is hereby incorporated by reference to the numbered exhibit filed with the Company’s Current Report on Form 8-K filed on January 28, 2010."
So, if you then find that 8-K, you can read the actual CVR Agreement. I'm pretty sure it's very turgid language! And, since I never owned Metabasis, I'm not up to reading it.
The final distribution has been made. From the web site:
"A wire to fund the seventh and final distribution to Allowed Class 7a Equity Holders was sent to Computershare Shareholder Services (the “Transfer Agent”) on November 12, 2013. The Depository Trust Company (“DTC”) will LIKELY allocate funds for distribution to those shareholders who receive their distribution into a brokerage account during November or December 2013. The Plan Administrator, unfortunately, has no control over the actual timing of the payment by the Transfer Agent or electronic allocation by the DTC to equity holder accounts maintained at brokerage houses. Allowed Option Holders, as in the past, received their distribution via check; these checks were mailed on November 12, 2013. The share amount for the seventh and final distribution is $0.012498 per share. A cumulative total of $1.388298 per share has been distributed during the pendency of the case. This is the final distribution. The Plan Administrator will not make any further distributions. The case is now closed. We advise that you deposit or cash your check immediately, but by no later than February 12, 2014. Failure to negotiate the check prior to that date will cause your check to be deemed unclaimed property and donated to charity."
There's a calendar of required filing dates which shows up as the first non-sponsored link of a Google search of "sec filing deadlines". The page is from merrilldirect. It says that "after filing an NT 10-Q, the deadline for the 10-Q is extended five calendar days from the due date." They now have until Nov. 19 to file the 10-Q, so we shouldn't have to wait too long to get some answers.
If you look at the Yahoo Finance summary page for PRCP, you'll see a link to the transcript of the call. Search the transcript for the question by Scannell
You (and everyone else commenting on this thread) should realize that Seeking Alpha conference call transcripts leave a lot to be desired in their accuracy.
First, the transcript attributes these statements to Painter, when in fact they were stated by Wolfson. Second, when I first listened to the call, I thought Wolfson said "increased automation" not "decreased automation" as the transcript reads. So, I went back and listened again. You should do the same. The discussion starts a bit after 53 minutes into the call. It is in response to a question by the analyst filling in for Ritzenthaler. The audio kind of drops out very slightly at the word increased (decreased?) so that it is not quite evident what Wolfson said. I still think he said increased, but would really like to hear what others think.
Has Frost & Sullivan issued any such awards to Axion recently? Because the award you cited was touted in a press release from Axion dated Feb. 6, 2006.
Here's the first paragraph from that press release:
"Frost & Sullivan has selected Axion Power International (OTC Pink Sheets: AXPW - News) as the recipient of the 2006 Frost & Sullivan Technology Innovation Award for North America in the field of lead acid batteries for developing an innovative lead-acid-carbon battery- supercapacitor hybrid that could cause disruptive changes in the market."
If you're referring to Higgins's sale of 10,000 shares reported on 10/18, read the Form 4 on which the sale was reported. In particular, read the footnote, which states
"The sale reported on this Form 4 was made pursuant to a written trading plan adopted by the Reporting Person on September 11, 2013, in accordance with Rule 10b5-1."
Then, search for Rule 10b5-1 to find your answer.
Don't know if anyone can still find this board, but here's the news.
After more than 7 years, the bankruptcy case has finally been closed. The final decree was filed Oct 11, 2013. A final payment will be made some time after Nov. 1, 2013. Here's the text from the RNI Wind Down Corp. website:
A wire to fund the seventh and final distribution to Allowed Class 7a Equity Holders is ESTIMATED to be sent to Mellon Bank (the Transfer Agent”) on or about November 1, 2013. The Depository Trust Company (“DTC”) will LIKELY allocate funds for distribution to those shareholders who receive their distribution into a brokerage account during November or December 2013. The Plan Administrator, unfortunately, has no control over the actual timing of the payment by the Transfer Agent or electronic allocation by the DTC to equity holder accounts. Allowed Option Holders, as in the past, received their distribution via check; these checks will LIKELY be mailed on or about November 1, 2013. The share amount for the seventh and final distribution is estimate to be LESS THAN $0.015 per share. This will be the final distribution. The Plan Administrator will not make any further distributions. Quarterly Reports showing the most currently available financial information will continue to be posted on the website referenced above until the final distribution is made.
This is all pure speculation. Peterson was pumping the BMW story in 2010. This was article from Nov. 25, 2010.
Axion Power and BMW Report Impressive Performance Test Results
"After seven years of cautious disclosures about the development status, performance and market potential of its serially patented PbC® battery technology, Axion Power International (AXPW.OB), in conjunction with BMW (BAMXY.PK), has finally released impressive performance test results that show why the PbC battery is a superior choice for automotive stop-start applications."
It's now 10 years. Where is the BMW contract?
As far as GM, again pure speculation. They say "lead acid" not "lead carbon", which is what PbC stands for.
Anyone giving your pumping any credence should take heed.
You forgot about the 1 for 8 reverse split. Your 3000 shares would now be 375 shares worth about $9,105.
Yahoo earnings dates are not to be trusted. Unless the company has announced, Yahoo dates are only guesses.
For at least a year, MRV has filed on the last possible day to meet SEC requirements. For this quarter, that is Nov 11. Maybe they'll file on Nov. 8.
What do you make of the company issuing shares and lending them so that the convertible purchasers can short them? A month or two ago at the most, the Wall Street Journal wrote an article about this practice, which has the moniker "happy meal" and described a similar offering by Molycorp.
Search the Orange County, CA fictitious business names web site for Pacific Oil Products and you'll see it is registered there with Aero Tech Industrial Supply listed as the owner.