Ward, you're confusing two things here. In your post, you said "I'm assuming the money from he additional shares will be used to fund the J-Plasma Unveiling." No, it won't. The quote you used from Bovie concerns the initial funding from Gershon's group. Two completely different things. Read the SEC filing.
Ward, Bovie will not receive any proceeds. “We will not receive any proceeds from the sale of the 9,275,000 shares of common stock subject to sale by the selling stockholders under this prospectus.”
Bovie may get some proceeds if the warrants are exercised.
Confirmed that Wise and his new alter ego "joelshackelton" came from the same Canada IP address. But that wasn't even necessary. Funny how Wise's favorite cliché, "food for thought" is also "Joel's." And I would suggest everyone read Friday's SEC filing. The massive dilution is clearly spelled out. Yes, the massive dilution that Wise denied was happening in yet another disgraceful lie.
Like the movie, it’s always the same. Day after day, month after month, year after year, the company misfires on all cylinders. Day after day, month after month, year after year the stock goes down. And day after day, month after month, year after year, Wise posts his hallucinations, his delusions, and his cut-and-paste gobbledygook while he smokes the hopeium, even though everything he’s thought and said for the last 5 years has been lies. The payday will never come -- at least for the sadsack owners of BVX common. It was no oversight that Gershon didn’t mention shareholders in the 12/13/13 PR release.
You really are the dumbest, most naïve investor ever. You don't have a clue. These were not restricted securities. They carry full voting rights. They will be registered within 30 days. Go do some more "homework." Next time, cut-and-paste something that makes sense. You might as well have cut-and-pasted a recipe to make an apple pie. It's about as germane as what you posted.
Because they haven't been registered yet, you incompetent moron. You'll see the effects in 30 days or so in a followup filing. You really don't have a clue, do you. No wonder your "homework" was so wrong.
Stock is now below what it was when the capital infusion was announced. The dilutive financing, management poison pills, warrants and flood of new shares have made this a zombie stock, probably forever. So Gershon is going to be based out of Connecticut? Does this mean yet another office, including the one in NY? Just business as usual at Bovie, which is never good news for shareholders. Meet the new boss, same as the old boss.
What occurred here is not a "change of control." Gershon and GPP are not that stupid. Plus Makrides, Saron and Cintoniwizc agreed to vote their shares for the new board members. There are plenty of issues, but this is not one of them.
Yes, the lack of details about the deal is the reason for the market’s cautious reaction. No one is sure what it means. On the one hand, shareholders are spared from a complete Ch. 11 wipeout, which might have happened. On the other hand, it’s unclear just how much current shareholders will share in any future success. The $7M injection was not a gift, and in all things like this, it comes with strings attached. We might know more when they file an 8-K.
Surg, this may actually make me a buyer, too. As in any deal like this, there are concerns (dilutive financing, etc., and I’d like to know a little more about the financials) but in my view Bovie was on possible track to Ch. 11 without this. Obviously, no one was going to inject capital in Bovie unless this failed management yielded control, and that’s the best thing for Bovie shareholders. Makrides may have finally recognized that nothing was working and was staring at the abyss. Now, there hopefully will finally be accountability. My guess is Saron and Citronowicz are not having wonderful weekends. I didn’t like that in the press release there was none of the usual pro-forma mention of “boosting shareholder value,” but that might have been an oversight.
It will be interesting to see the market reaction Monday morning.