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Destiny Media Technologies Inc. Message Board

foreverwhiteroses 23 posts  |  Last Activity: 8 hours ago Member since: Jul 16, 2004
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  • Reply to

    I'm rich! Can't wait to tell all my friends.

    by twinklesice Sep 1, 2015 9:43 AM
    foreverwhiteroses foreverwhiteroses 8 hours ago Flag

    The press release is now shown in Yahoo... My math was slightly off - 1 share of old GYRO is now .0904 or new GYRO. Old GYRO shareholders own 22.6% of the new GYRO.

  • Reply to

    I'm rich! Can't wait to tell all my friends.

    by twinklesice Sep 1, 2015 9:43 AM
    foreverwhiteroses foreverwhiteroses Sep 1, 2015 10:43 AM Flag

    I'm really surprised you or any shareholder are not aware of what's happened.... How can you be a shareholder and not know? It's a complex situation but at the shareholders meeting, a "merger" was approved that rolled the three entities that have been created over the past two years into a single company called Gyrodyne LLC. I've never been involved is such a complex situation, so I won't attempt to explain the details, but shareholders of the old GYRO now own about 23% of GYRO LLC but that math of the merger means 1000 shares of the old GYRO will now become approx 85.9 shares of the new GYRO. The theoretical liquidation value of GYRO LLC is now 31.80 and the planned liquidation of Gyrodyne can now begin, with target completion to be something like one year away.... That's the broad brush summary...

  • Reply to

    I'm rich! Can't wait to tell all my friends.

    by twinklesice Sep 1, 2015 9:43 AM
    foreverwhiteroses foreverwhiteroses Sep 1, 2015 10:30 AM Flag

    Cua - Dont quote me on this, but I think if all you owned yesterday was what had been quoted as GYRO, you now own 8.59% of the amount of shares you used to own of what is quoted as GYRO today, but your shares are worth $29 today vs 2.80 yesterday.

  • Reply to

    I'm rich! Can't wait to tell all my friends.

    by twinklesice Sep 1, 2015 9:43 AM
    foreverwhiteroses foreverwhiteroses Sep 1, 2015 10:04 AM Flag

    I can't wait for Ameritrade to tell me what they think I own so I, too,can tell my friends just how rich I am! At the start of the day, I now have 3 unidentified entities associated with Gyrodyne instead of 2. I wonder how long it will take for them to figure out exactly what we own? All I know is if you owned GYRO, GSD, and Special Dividend shares, you now own GYRO LLC trading as GYRO that has a "book value," for want of a better term, of 31.80. With the confusion, I don't think I could sell what I own if I wanted to yet......

  • Reply to

    Earnings Per Share

    by foreverwhiteroses Aug 13, 2015 9:08 AM
    foreverwhiteroses foreverwhiteroses Aug 14, 2015 9:10 AM Flag

    I'm fully aware of the Managed Distribution, but I guess it's the accounting side that I don't understand. Does paying the $.015 per share per month in round numbers above and beyond the income from investments lead to a reported negative earnings per share? One interesting stat right now is we've come down to a point where FAX now pays 5% plus dividend just based on on actual available income.. Given the overall credit quality of the portfolio, that has got to be an indicator of a near bottom on FAX for now, doesn't it?

  • foreverwhiteroses by foreverwhiteroses Aug 13, 2015 9:08 AM Flag

    Yahoo shows a stat of -.20 cents per share for trailing 12 months as of April 30. With investment income usually around 2 cents each month, where does the -20 cents EPS come from?

  • Reply to

    What's Wrong With This Fund?

    by foreverwhiteroses Jun 24, 2015 4:35 PM
    foreverwhiteroses foreverwhiteroses Aug 10, 2015 6:49 PM Flag

    I think I've figured it out.... When oil's going down and interest rates are stable or declining, Mr. Market worries about BGH's oil exposure and when oil bounces upward along with interest rates, he worries about the impact of interest rate's rising.... Hey, we're really in the sweet spot!

  • Reply to

    forever rose

    by verado Aug 8, 2015 2:39 PM
    foreverwhiteroses foreverwhiteroses Aug 8, 2015 5:34 PM Flag

    Interesting you consider what I wrote to be taking a swing at you..... My solace is in now realizing The Donald follows MILL and shares his opinions here..

  • Reply to

    SEC

    by join_my_jihad Aug 7, 2015 10:45 AM
    foreverwhiteroses foreverwhiteroses Aug 8, 2015 11:12 AM Flag

    V - I have found your posts to be valuable, extremely informative, and pointedly dead on. Your knowledge base on MILL far surpasses anything I could ever have amassed on my own. However, to say there's absolutely nothing personal in any of your words when you have derogatorily questioned the sobriety and sexual preferences of someone who does not share your opinion on Mill and whom you admit to not knowing in your reply about "narcissist," just does not factually hold up. For me, these types of comments do nothing more than detract from the factual information about MILL that you bring to the table. Keep on keeping on with your fact based input about the disaster (imho) that is MILL, but please do not debase your own objectivity with time wasting, slandering, right fighting attacks. Disagree with someone? Sure. Refute their posts? Absolutely, but keep it factual without the attempts at personal ridicule. I"m just another Ivy Leaguer weighing in........

  • Reply to

    Bridgelux to be sold

    by analysts_r_clueless Jul 28, 2015 10:17 AM
    foreverwhiteroses foreverwhiteroses Aug 6, 2015 2:42 PM Flag

    How good's your memory, A_r_c? If I remember correctly, didn't TINY essentially double down on the SZYM and boldly announce that not only did they not sell any shares in the IPO but they participated as buyers of more???????????? Am I remembering correctly? Thankfully, I've been out of TINY for 3 years now but the sadistic side of me keeps me popping in on this board every now and then....

  • foreverwhiteroses foreverwhiteroses Aug 5, 2015 6:59 PM Flag

    Thanks, V. No surprises in your answer, that's what I figured.... couldn't help but smile to read your last sentence.....arbitrage opportunities on two $25 par issues trading for 50 and 90 cents? You're not kidding about being a true believer if you're out to capture an arb spread on an issue trading 98% below par....You made my day.

  • foreverwhiteroses foreverwhiteroses Aug 5, 2015 1:58 PM Flag

    V - a pure curiosity question, but you are probably in a better position to answer than most - Regarding the preferreds, given the current situation why would they be worth anything but the same price for either? Right now the bid for MILLP is 55 cents and .90 for MILLO. If all goes bad, they will be a single asset class and be worth the same, right? If all goes well, they essentially have the same coupon and the same cumulative status. Except for shorts bidding to cover, how can one be bid at almost twice the other's price?

  • foreverwhiteroses by foreverwhiteroses Jul 30, 2015 8:34 PM Flag

    Does anybody have any theories as to the reasons for sudden large swings in SPE's NAV this week? According to cefconnect, NAV jumped dramatically either two or 3 days ago and then today it dropped 92 cents to 17.07 which was more than the dramatic uptick. Historically, both the variances in NAV this week were unusual. Anybody have any theories? I haven't tried calling to ask, but getting any info from them always seems to be an exercise in futility imho.

  • Reply to

    What's Wrong With This Fund?

    by foreverwhiteroses Jun 24, 2015 4:35 PM
    foreverwhiteroses foreverwhiteroses Jul 27, 2015 12:37 PM Flag

    I certainly plan to be listening in to the Quarterly CC on the 29th....I'm not so sure the divvy cut is as meaningful as the Asia problems in general, but I do wonder whether or not the cut is reflective of a non-performing portfolio company....

  • Reply to

    Down 19%

    by curt01 Jul 23, 2015 3:38 PM
    foreverwhiteroses foreverwhiteroses Jul 23, 2015 5:28 PM Flag

    How can a single fraudulent event of such minor size cause such a huge drop? I'm only in the CUBI preferred, but were I an equity player, this huge selloff sure seems to spell opportunity to me, but then again, maybe that's why I'm only in the preferred.........

  • Reply to

    gill

    by odarev Jul 14, 2015 10:14 AM
    foreverwhiteroses foreverwhiteroses Jul 14, 2015 2:01 PM Flag

    What? A plain old lawyer representing an insider vs. our leader with his Harvard Law degree? Harvard = riches all the time doesn't it? Maybe G's smart enough to not represent himself......

  • Reply to

    What's Wrong With This Fund?

    by foreverwhiteroses Jun 24, 2015 4:35 PM
    foreverwhiteroses foreverwhiteroses Jun 27, 2015 10:06 AM Flag

    I do agree but always have a tendency to second guess myself. I bought my starter position right at the beginning of the decoupling of share price to NAV price, so I'm not happy about that, but as said, it was a starter amount...... I've yet to add, but in my mind, this is much closer to a buy than a sell because of its recent performance. It's trading at 11.27% discount to NAV right now which is an historical high according to CEFConnect and that's with a continued stability to NAV. I'd love to have a better handle on whether or not any of their portfolio companies is actually experiencing serious economic stress...I also realize high yield bond market has been compressed relative to normal, but still, the size of the change for BGH seems larger than the rest of the market, especially with the low duration aspect of the fund. I'm much closer to adding on than getting out.

  • foreverwhiteroses by foreverwhiteroses Jun 24, 2015 4:35 PM Flag

    Why is this closed end trading at historical discount to NAV? with a 10% yield now, all from income, you would think there's a bottom and yet it continues to drop..... I got in because the short duration aspect of the fund, but even that hasn't seemed to help.... Does anyone know if there's any specific problems with any of the issuers in their portfolio? I see where 20% is oil and gas - is that what's bringing them down? very frustrating.....

  • Reply to

    OXLCO Add-On Offering

    by foreverwhiteroses Jun 18, 2015 2:39 PM
    foreverwhiteroses foreverwhiteroses Jun 18, 2015 3:38 PM Flag

    3:32PM Issue priced at 24.50 for 1,224,490 shares raising 30 mil... Underwriters 30 day option on 184k addiitonal

  • Reply to

    a years worth of dividends gone in days !

    by a2e2b Jun 9, 2015 2:44 PM
    foreverwhiteroses foreverwhiteroses Jun 18, 2015 2:55 PM Flag

    It's interesting that FAX is trading at over a 14% discount to NAV, a level of discount not seen since the '08-'09 crisis and NAV has been essentially stable since June 4. Of course, in the crisis time, discount to NAV did exceed 20% for brief periods of time, so anything's possible but right now it's trading at a discount to NAV that's not been seen in 5 years.... Is the result of an expectation of increasing interest rates or something else?

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