I would tend to agree but why is management being so secretive for the past 2 months? I am hoping they are waiting for the 27th to announce something significant to coincide with the normal trading of the new ticker. With a free float of only 600K shares or so, this can rocket to $20 in a blink of an eye.
Guys, I shall try to keep the fire going by selling today as well. It has worked wonderfully for us for the past 3 days. The MMs see me selling and take it up like clockwork!
On a piddly 2000 shares or $3000 worth of trading. Market cap slashed $3.5 million by someone selling $3000. LOL!! Wish I could buy at 1.25 but the ASK is 2.05! Liquidity will come next week and hopefully news along with it...
The $240 million in schools is just a wild guess on my part at 50% of what they were a few years ago. I would discount any cash they have though it could be a few million. Potential liabilities are the numerous lawsuits that could be thrown out one-by-one after the sale of the schools.
I have only 13600 shares there :(. But the ticker reads $2.98 which is higher than the pre-split price of $2.86. I know the spread is crazy and hence I am not excited. Merrill hasn't updated my holdings yet but looks like liquidity will arrive next week. I hope they announce good preliminary earnings along with it and this should start flying with the super low float (assuming most are still locked up as restricted). If they say anything about up-listing, I will be in cloud 9...
My last post got cut off. I was saying, don't chase COCO. If it gets to your 15 cents target, buy. Else look for other opportunities. I am accumulating NIHDQ, DARA and VOIS. All have significant news on the horizon. NIHDQ will sell its spectrum, DARA is growing at triple digit rates and trading at cash, VOIS will be introducing a sci-fi device in 1Q15.
49er, I got a little emotional today and sold much more than I wanted to. Have 440K shares left and feeling a little light - LOL! My cost basis was 14 cents and so it was great week. The target date is Nov 15 for the sale and if volume stays up at these levels, I am afraid the short position would have fallen significantly by then (
All scenarios point to canceling the stock? Do you understand they have less than $140MM in debt? If the schools sell for $240MM combined (which is more than a 50% discount), that leave $1 share for the commons. May not last there but that will be enough news (and there is lotsa juice) to take it there...
After making an intrepid move to load the boat while others were shouting fire upon a smouldering heap, Shah Capital (11MM shares as of 9/30) is slowly but surely reaping the fruits of a contrarian. I'm guessing their cost average should be in the 70-80 cent range. So, do the math. I expect Dimensional Fund Advisors (3.3MM shares as of 6/30), Fidelity (3MM shares as of 6/30), Vanguard (2.4MM shares as of 6/30), Credit Suisse (2.2MM shares as of 6/30), Nantahala Capital (1.4MM new shares as of 6/30), Barclays (1.4MM shares as of 6/30) and "Beta" (1.05MM shares as of 10/21) to play along with Shah to squeeze the greedy clan. That is 25MM shares right there, locked and loaded. I believe that Beta dude will be selling little lots along the way to keep the fire going - that is his specialty.
PS: Commonwealth Equity Partners joined the fray by 9/30 as well, though with only 42K shares.
Your open seems like it is playing out. Already up to a quarter in pre-market, more than 90 min before market open. Hopefully your close is accurate too. From the early short panic, I won't discount such a lofty target and it is definitely in the realm of possibilities. I am thinking more like 28-29 cents for another 40% day..
Listen up troll secretaries: I sold as many shares today as all the insiders did in Aug and Sep combined. If you didn't get my point, which is most probably the case, their sales amounted to peanuts. Enough with the same rhetoric. It's just white noise to the current longs and institutions...
Perhaps traders are rotating profits from ESI into COCO. The sale news will take this to 85 cents at least. So, we are still looking at a 4 bagger from here. I sold 160K shares today in 8 lots or 15% of my holdings. Didn't expect this big of a run so early into the anticipation phase. My sell limits are now 1 cent increments above 20 cents, 2 cent increments over 30 cents and so forth. Hoping there will be one monster gap up on the day of the sale and most of my shares will sell there and above. It will take over 50 trades for me to exhaust my position. What happened to the troll? I need someone to track my profits. LOL!
Wall St is literally giving it away right now. Triple digit growth, earnings coming up, promising pipeline and maybe Ebola mania added to the mix. In for 20K shares - Enough for now.
How do you know? Unless you consider me a hedge fund - LOL! I bought 10K shares just now. Rapidly increasing sales, leadership position in the gel space, company trading at little over cash and potential Ebola mania. I'll average up over the next few days.