Do like Loco Corp, information_vision1 -- shrivel up and die!
Joelsliver is betting heavily that the to Radioshitt lawsuits prevail at max, getting the unsecured group 40 cents on the dollar, and that after the lawyers get their cut he will have 25 cents. Big bet. You really think the lawsuit will be settled that quickly for that much and all in cash? You are either very young, very foolish, or just plain stupid.
JoelsLiver claims to know how to read a financial statement, but his comments here, especially those cheering on flanky's nonsense, demonstrate vividly that he has not bothered to read those documents.
Saint, if you need help finding how to file a complaint with the SEC, they you ought not be investing your money in the stock market.
"Note that conversion prices are subject to adjustment."
Fact of the matter is that the company had to give this to the lenders. Absent such a sweetener, the deal would not have gotten done and you would be looking at a sub-penny pps right now.
End of the quarter is near. If you were running a fund, would you want the public to know you owned this POS? Neal Goldman is in a box and can't sell, and Vanguard has it in its index funds. But the others?
Stann, your ignorance is astonishing! You do not have four new owners -- what you have is the same creditors that exchanged old paper for new under terms far more favorable to them. And you have additional debt held by your largest shareholder (Goldman) plus, for a change, management. The ONLY thing new is that management now has its own skin in the game (their spouses are NOT happy!).
topline, the idea that funds cannot buy a stock that is priced below $5 is a myth. Take a look at the list of large holders and check out their activity in Q414. The only reason to do the reverse split is to get this turd over a buck a share so as to meet the Exchange's listing requirements. The only question is "How much of a cushion will they need before they have to do it again?"
Talent. Or, rather, lack of it. That and the complete absence of any real competitive advantage. The business model appears to be licensing patent, and from what is apparent, they are not very successful at that, either.
Does it matter? Whatever the ratio is, the shareholder still owns a constant percent of this POS, gaining nothing and losing nothing.
Actually, I believe there is a reset each quarter when interest payments are made and when monthly principle payments are made on the Series A debt, assuming these payments are going to be made in shares
More likely would go the other way, in the same direction as Loco Corpse
And with today's 10% drop does the recommendation become ABSOLUTELY VERY VERY EXTREME STRONG BUY?
You are only now figuring all this out?