Hello Front I bought DORLP also, those are 50 dollars preferred shares, I don't think your going to get investors to give up 50 dollar preferred shares with the gamble we took, maybe swap out the 25 dollar preferred shares at 1.5 common share. I think Don knows no one will sell for less then 50 cents on the dollar and that's a heck of a deal for a bank.
Hello Don, DORLL is valued at 228 a share with options to convert shares into commons at 6.9 common shares, the convertible rate can be adjusted as time goes on, first one to get convertible options will probably be DORLL. Regarding the other preferred shares 50 cents on the dollar is the going rate, most Greek Banks offered 50 cents on the dollar with heavy diluted commons, current 25 preferred on a Greek bank is around 13.50 and no dividends. BPOPN, BPOPM and BPOPO are 25 dollars preferred and they don't pay dividends, 2 are worth 21.86 a share each and the other is at 21 a share, seems high for not getting a dividend. IF Doral can get the preferred for 50 cents on the dollar by paying cash, by buying 100 million for 50 million it increases the banks books an extra 50 million, that's why the Greek banks did it, but I think Doral will have to pay more, I would be happy with 50 cents on the dollar, I make a little over 100% profit and the bank makes a 100% profit.
so basically you are saying boyt shouldn't expect a dividend for many years and the waiting time is less for preferred share holders correct?
oops made a miscalculation, preferred shares need to go up 115% to be valued at 50 cents on the dollar with total vale at 175 million
Before DRL pays a dividend they have to pay all the Preferred share holders their dividend first, Preferred shares get paid before commons, that's why I keep saying pay close attention to the preferred shares they are cheap and the best buy for a long term holder with the cheapest dividend being 7.5% once they start paying.
Take the 350 million for the preferred then it leaves 300 million for the common which is 47 dollars a share times 6.4 million shares, with loses on nlp`s we can reduce it the value of commons by 50%, want to make a high loss that brings book value at 23.50 but heck I am not greedy, lest reduce that even more say another 50% which would make it 11.75 a share, and if the preferred shares go up 70% I make another killing on my DRL preferred shares which would make total value of Preferred shares 175 million with an increase of only 70% its fun doing math isn't it?
the euro is suppose to fall to 1.10 vs the dollar, Europe to start QE to get them out of recession, billy is making a good bet in my opinion if he is shorting the euro
Hello Brenda I hold my CLF in my IRA and flip it on my private account. CLF price will move with iron ore prices which are dropping every day, no one thought Australia would flood the market. When I buy a stock I usually buy 1/3 1/2 positions to start incase of drops like this, CLF could go even lower and that why I have not added to CLF yet. Brenda on Sept 15th I sold the CLF and you bought it the next day at 14.98 which I couldn't understand, just like buying BBD in the 18`s, I haven't said anything but I am curious why you buy in high? RSH I said was a high gamble but AT, DRYS and RAD are solid companies and all moved up, I don't include RSH move today, its was a big gamble and I bailed and I never recommended anyone to buy one of my triple FTF`s as they are dangerous plays, I think I am better off not mentioning any of my buys anymore, i don't want people to follow my investments.
The Founding Committee of the Western New York Investors Conference announced today the presenting companies for its 2014 conference, which is scheduled for Friday, September 26, 2014. The conference will be held at the Embassy Suites Buffalo, located at 200 Delaware Avenue, Buffalo, New York, with presentations beginning at 8:00 am ET and running through 2:35 pm ET
Seeking Alpha writers always seem to forget other issues of a stock. If you went with lowest valuation it was 89 cents a share in June of 2013 then a 1 for 20 reverse split made it 17.91 a share, at 17.91 is the same valuation as 89 cents but rather then owning 100 shares you have 5 shares. A win brings this close to 10 a share, we take profits while the bigger guys buy from us as they know its worth more then 10 a share then they will make money. The AS writer must be short, even though they might say they don't hold a position their spouse does, besides no one checks up on SA writers holding, the SEC doesn't have the man power or time.;
I would rather be in Florida in the winter time then here up north, the cold gets to you. Just bought more XONE 09/26/14 13:58 Filled 100 at 22.8199 also I posted on the XONE board, over 50% of shares shorted with 9 days to cover, hoping for the mother of short queezes
Short interest in The ExOne Co. (NASDAQ: XONE) rose about 3,0% to 4.62 million shares. About 51% of the company’s shares are now held short. Shares of ExOne fell more than 12% in the two-week period and closed at $24.82 Wednesday, down about 60% year to date. The stock’s 52-week range is $24.34 to $70.25, and days to cover rose to nine.
Read more: More Than Half of ExOne's Shares Are Short (NASDAQ: XONE) - 24/7 Wall St.
Hello Red I hope the market goes back up, 250 point drop is a lot, maybe bottom feeders come in tomorrow. So you decided to chance MTL, if I was doing MTL I would sell ever 3 to 4 cent pop cause I believe they are going to crash it with all that bankruptcy news, I held onto JNUG which open real low and made it make to over 14 a share, I didn't sell because tomorrow options expire on gold GLD and usually the bulls come in, so I am hoping to get 15 to 15.50 for JNUG, I bought that at 13.37 or 13.39 and then hoping for a short squeeze on XONE, I hoe we all get lucky and win.
If we look at the old news with the 1 for 20 reverse split with a 132 million shares, stock was 89 cents a share and after the reverse split it was 17.91 a share on July 1 2013, now with only 6.4 million shares and when Doral wins the lowest value would be 17.91 but being in much better shape can bring a higher price in time to come... here was the news in July of 2013,,, Doral's common stock will begin trading on the NYSE on a split-adjusted basis when the market opens on Monday, July 1, 2013. When the reverse stock split becomes effective, every twenty (20) shares of issued and outstanding common stock will be automatically combined into one issued and outstanding share of common stock without any change in the par value per share. As a result of the reverse stock split, the number of issued and outstanding shares of the Company's common stock will be reduced from approximately 134.0 million to approximately 6.7 million and the number of authorized shares of common stock will be proportionally reduced from 300 million to 15 million.