Taglich hoping to do investment banking business for INUV. Sucking up with a Buy rating. Howe will think they really like him and his company. He'll learn...
Sounds to me like you are getting set to be burnt again, swp. Are you a gluten for punishment?
It is interesting, isn't it, that when you get past Lee, the inside ownership is quite small. Why did this POS not compensate its senior officers with more shares and less cash? The CFO has a negligible number of shares, yet he walks away with $1.4 million of the shareholders money when this thing ends! What a crock!
Blackrock had been building a position since at least Q212, so their losses are substantial enough that putting the shares up for sale below current market is simply a rounding error to the overall loss. Recent selling could be for two reasons: First, they figure that there is no future with the SinkHole and, given a November target for completion of the deal with ACP, there is too much risk that the $2.50 price drops or disappears altogether; Second, they may be holding some of the shares in the index fund that just bounced the SinkHole out, in which case Blackrock will be required to dump the position.
Don't bother asking Blackrock what their intent is. No money manager worth his salt will tell you what his intent is. Note recent action against one of the private exchanges that disclosed to its clients what others were doing. I've known people at Blackrock for years now and they would be enraged if I called one of them with the expectation that they might offer to tell me what they are doing.
What I found very interesting is the review of events surrounding the release of the K and the subsequent discussions leading up to the reduction in the price to $2.50. While the amendments give some guarantees, including ones that prevent ACP from declaring as "material events" the continued deterioration of SinkHole's financial condition, it is clear that ACP wanted a lower price and I would suggest the $2.50 figure remains tenuous. What was entertaining was the resistance put up by SinkHole's BOD, as if they had a leg to stand on.
SinkHole was supposed to file a plan with the Mass. Dept of Insurance by June 1, describing how it intends to pay off the debt that is due in Sept. We've heard no word as to whether the plan was filed, how it was received, or what the plan is. Stay tuned, but in the meantime the Market is telling us that whatever the plan is, it is weak. Either that or there is a move underway to file another amendment to the agreement with ACP lowering the price.
You should go back and re-read the tripe you put on Seeking Alfalfa, Boo-Fay! And the stupidities that you have posted here!
Been following stocks for a whole six years, eh? You must know a lot by now -- why don't you demonstrate it. And a "double-hoo" no less! That sure counts for a lot.
Zacks has an article out today suggesting investors bail on the SinkHole. Clearly, the recommendation is driven by a computer model and in the context of what has been happening to the company and the stock, the report is absolutely laughable.