The 175,000 does reflect the 1:10 and 1:3 RSs. The number of shares issued on Dec 2 was 5,250,000. Divided by 30 is 175,000. It's just not in the 6.k as reflecting both RSs.
The 175,000 is adjusted for the rs, and was issued Dec 2, 2013.
The recent numbers are:
1. between January 3, 2014 and February 28, 2014, the Company issued and delivered to MGP an aggregate of 1,200,000 (split adjusted)
2. March 7, 2014, the Company issued and delivered to MGP 400,000 Additional Settlement Shares
3. March 12, 2014 MGP requested 420,000 Additional Settlement Shares, and
4. March 14, 2014 MGP requested each of 590,000 Additional Settlement Shares and 700,000 Additional Settlement Shares
The total is 2,110,000 additional shares since Feb 28. OS now total 7,567,591.
Retailers cannot short stocks that are under $5 per SEC regs. Also, a margin account is necessary to short a stock. So, what brokerage houses allows retailers to short below $5?
How do you come to this conclusion? The news was posted this morning at 8:30 am and had all day to effect the price, but the price was down 43c. Also, there was only 625 shares traded in AH, not a lot of interest. Hanover will continue to sell shares to recoup their money whether there is news or not and the price will continue to decline until they complete their goal.
Read the posts again. I didn't say the shares would or would not be converted to common shares. The purchaser has the option to redeem them or convert them. btw, you don't know which option the purchaser will chose so it's only speculation that none, some or all will be converted.
I wasn't saying that you did. I just added clarification that the Preferred shares can be redeemed or converted. The purchaser has a choice which doesn't necessarily include dilution as some have stated on this mb. I think we are saying similar things. The operative word is CAN.
"The preferred shares can be redeemed by the Company or converted by the purchaser in common shares."
Which doesn't mean the shares will be converted to common shares.
The Company intends to use this $25.0 million to grow its fleet. Partial proceeds from the preferred shares issuance, along with the 75% debt financing recently received, will be deployed towards the acquisition of two eco-type 31,800 dwt, Handysize bulk carriers built in 2012. The vessels have a total acquisition price of $37.0 million, as previously announced on February 13, 2014. Of the acquisition price, the $9.25 million not subject to the debt financing is expected to be paid in installments, $1.85 million to be paid this week and the balance upon delivery of the vessels in June and July this year.
NOTE: This is PREFERRED stock not COMMON.
How do you figure 300?
Reverse splits occurring in the past 5 months:
Oct 17, 2013 [1:15], Dec 6, 2013 [1:3], Mar 6, 2014 [1:10]
The last three is: 1:450; the last two is: 1:30.
You're correct, I missed this:
50% of all shares described below are beneficially owned by the Reporting Person and 50% are owned by the Trust. The Trust is filing its own Schedule 13G reporting ownership of 4,426,519 shares.
Mantangi Irrevocable Trust 4,426,519 shares 9.16%
Perian Salviola 8,853,038 shares 18.32%
Just scanning the dos, it appears that these shares are payments for the Viking Acquisition transaction and Viking Prep Plant transaction. So, I would conclude that they did not buy the shares, but were issued the shares by NEWL.
I stated what is in the regs. While Hanover continues to sell shares, the price will continue to decline because they don't care what the price is nor whether NEWL is compliant. Will it recover in 3 months time? Who knows.
Your conclusion is incorrect. The paragraph states that NEWL did not have a $50 million market value for 30 days and therefore is non-compliant. NEWL has 180 days, June 23, 2014 to regain compliance for the market value. It is possible, if NEWL doesn't regain compliance that they will be delisted, but they have 3 more months.
No, I don't. Different Level IIs have various columns and/or labels for the columns. Exchange=Mkt. These are not MMs. I'm inclined to think NYS is an exchange or Mkt (market), not a MM.
Quick, Are you sure it is a MM and not an exchange? If it is an exchange, it could be the NYSE shortened to NYS. btw, MSTX is on the NYSE MKT exchange since they bought AMEX.