So.... when RS sold 372k shares, who was this best for?
What Hercules did was call in their loan based on broken covenants of the loan. I actually thought it would not happen for another couple weeks, but it was bound to happen sooner or later without additional financing.
Hey, you do realize the CEO isn't making 18 million a year, right? He got 14 million in stock at the IPO, not sure where the other 4 million came from you might need to cite your source.
I just checked Wikipedia page for VMEM, looks like Don Basile put his own money into the company in 2009. This makes him an Angel Investor in addition to CEO, I wonder if the 14 million in stock he received had anything to do with his role in financing the company. Obviously, other early investors were awarded stock too... and not for being CEO.
Good news for VMEM.
I really hate saying this but pipster is right, RS would have made out big time holding in case of any bidding war, his selling this many shares means he knows they are worthless paper not worth holding. I'm not kidding you should not be holding this stock right now, every major drop brings another 75% loss it seems, and it happens overnight. It's absolutely ridiculous to think this is part of some agreement with Toshiba, I've never heard of such a thing.
The only people buying now are hardcore gamblers. This company is bankrupt and there may be more than one bidder on the assets but in the end shareholders will likely get 0.
Micron CEO Durcan commented on this on a cc earlier this year (not sure which off hand), said they weren't worried and that they expected to hear from the CAFC early in 2014.
I think you have it wrong, what the CEO must do is enable the company to grow quickly and take market share from competitors.
I'm going to give it to you straight, there is no company out there that would benefit more than Toshiba from the OCZ asset purchase because of the vertical integration, not even Seagate, everyone knows this.
What I believe we will see something similar to Micron buying Elpida, everyone else will bow out to prevent overpaying in a bidding war, Toshiba wins and the employees win, shareholders and creditors bent over.
I am not short, I had been trading OCZ on the long side, not anymore. I won't buy another share and can only advise selling since there won't be anything left for shareholders. This is not a drill man, OCZ shareholders are being hung out to dry.
When I said I was giving this guy too much credit, I was talking about Ralph Schmitt.
Get real jedb424, he sold because all of the information has now been made public, in other words he isn't trading on insider information now since everybody knows they are filing for bankruptcy and that Toshiba will buy the assets in a bankruptcy fire sale. I feel like I want to throw up.
Part of the deal? Come on man, you don't really believe that do you? You should have sold in AH somebody kept buying at .14 for some stupid reason.
It most certainly happened jedb424, I have been giving this guy too much credit as of late. This is like a cheating wife having sex with your lawyer in a divorce proceeding, then you end up paying all your money to her via alimony in addition to child support. I feel like I need to look for some Vaseline.
Ok I see it didn't scroll down far enough. Why no price drop in AH? Why did I have to scroll? Anyhow people this is a very clear sign.