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Swisher Hygiene Inc. Message Board

iyel 9 posts  |  Last Activity: Jun 11, 2014 10:32 AM Member since: Dec 29, 1997
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  • Reply to

    Reverse Splits Are Kiss Of Death

    by docsavageinvestor Jun 10, 2014 11:48 PM
    iyel iyel Jun 11, 2014 10:32 AM Flag

    Messengers are not always popular. If you were one of the 80 or so small businesses who sold themselves to Swisher for mostly Swisher common in 2011 and 2012 you might agree with the content of the particular message. And it is 1/10 on the rss not the other way around.

  • iyel iyel Jun 10, 2014 1:42 PM Flag

    Well they didn't sell as the common dropped 97% from the former highs. If they think there is any any chance here of a turn-a-round they still sit on 35% of the common. Even though they are off the BOD they have plenty of clout behind the scenes. Oh I also believe that Wayne may actually control all of the 5 million since the last time I checked the filings it mentioned some if not all of Steves positions were being held as collateral for some other obligations. I don't know if that is still true. In any event if he owns or controls over a third here of the common it wouldn't take very much for him to once again have it all if he wanted to do a remake of what he did back in 2004 when he grabbed the then publicly traded Swisher on the cheap and took it private. Wayne H didn't get to become an icon by being nice.

  • iyel iyel Jun 10, 2014 12:16 PM Flag

    Absolutely ingenious way of putting it left. I am sure Wayne and Steve are up all night muttering to themselves about the misfortune that befell their once 50 million and now 5 million shares. 50 million shares worth three years ago over 500 million and now worth about 17.5 million. For the former Coolbrands shareholders like myself who inherited their Swisher shares and those who bought on the open market after November 2010 what you say is small comfort since in all likelihood they are never going to get back to break-even. Maybe those buying now might see a profit but with the company still losing money and still burning cash this could very very quickly be another one dollar common once again at which point we may start hearing about yet another reverse stock split. Swisher thus far has never shown it can make a buck both after the merger with Coolbrands and for the 6 years before back to when Wayne and Steve bought it the first time around and took it private.(in 2004) It always ran in the red and burned cash. That was the primary reason it merged with Coolbrands to begin with. Coolbrands was a shell corporation with 65 million in cash and a market listing. That saved Swisher at the time.

    By the way Wayne and Steve were given those 50 million shares by Coolbrands at the time of the merger. They paid zero out of pocket for them.

  • Reply to

    What is the Float?

    by yankdaskank Jun 3, 2014 10:30 AM

    Unfortunately the history of the reverse stock split proves to almost never be in the best interests of the pre-existing shareholders. As I had said previously I am a former Coolbrands shareholder and that one did just fine on the Non-Nasdaq. Swisher could have gone lever there cleaned up its operations(we hope) got the common back up over a buck and then looked for a relisting on Nasdaq. Our equity is preserved. Now with only a tenth the shares it will be far far more difficult to ever get back above water. If the common were trading at around 35 cents with no rss and suddenly operations were back on track that common could be a buck just like that. On the other hand if the common is $3.50 after a rss and operations are looking up do you really think that gets the common to say $10.00. Not a chance . Maybe 4 or 5 tops. The only ones who stand to ever do well here are the ones buying now. For them and maybe management who can always issue themselves new options etc to make up for the lost old options today becomes the first day of the new Swisher with 17..5 million shares outstanding. Sort of like an IPO. For them not us.

  • Swisher Hygiene Inc. ("Swisher") (Nasdaq:SWSH), a leading service provider of essential hygiene and sanitizing solutions, announced today that the one-for-ten reverse stock split of Swisher's issued and outstanding shares of common stock will be effective at 12:01 a.m. on Tuesday, June 3, 2014. Trading in Swisher's common stock on a split-adjusted basis is expected to begin at the open of business on Tuesday morning, June 3, 2014.

  • Reply to

    Clarification on the R/S

    by yankdaskank May 21, 2014 3:16 PM
    iyel iyel May 21, 2014 4:07 PM Flag

    "The Company will file the amendment authorizing the reverse stock split following completion of administrative matters with the Depository Trust Company and The Nasdaq Stock Market. The Company expects the amendment to become effective on or about June 6, 2014."

    From the filing. It sure sounds like they intend to effect it on June 6th. Why else would they brief the transfer agent and Nasdaq if they didn't intend to go through with it. We can hope this rss doesn't end like most but honestly I see nothing yet that says anything other than the common will be lower not higher unless or until we hear something that tells us these guys can actually earn a profit.

  • Reply to

    Reverse stock split

    by iyel May 20, 2014 3:24 AM
    iyel iyel May 21, 2014 1:14 AM Flag

    That is correct. Stock options,warrants if any will be adjusted as per the terms of the rss. Swisher can of course then issue new warrants, options etc to make up for whatever loss was incurred post split or just reprice everything. BTW-I am always happy to hear the optimists take here but my experience with the rss is always negative. I dont see any great runup unless or until their operations do a 180 and so far there isnt very much to suggest that is happening. Cash flow improved(but is still negative) and that buys time but they are still losing money. That matters plenty. Remember after a 1/10 rss an 8 cent a share loss in a quarter(or whatever) will be 80 cents. How do you think that will sound. Maybe if you wait and then buy the common after post split it is back at a couple of bucks you might do ok if they turn things around but for those of us in this common over the last number of years it is hard to see ever getting back to a profit.

  • Reply to

    Reverse stock split

    by iyel May 20, 2014 3:24 AM
    iyel iyel May 20, 2014 10:23 AM Flag

    Not a stupid question at all. Everything would be adjusted post split.

    One other thing-that 1/10 isn't necessarily the last word. The filing made clear it could be adjusted depending on the common. So if this common continues it's downward slide that 1/10 could become 1/15 or 1/20

    As I have said I would leave things as is and if they are delisted from Nasdaq I can live with the BB exchange where Coolbrands traded for years and did just fine until their management blew up the common after they blew up their old business plan and tried a whole new direction. Too bad that direction took the company and the shareholders over the cliff.

  • 1/10 effective June 6th.

SWSH
4.0375-0.0425(-1.04%)1:21 PMEDT

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