Yes I agree. All long term stock holders should call the SEC, FINRA, Sloan Holdings, largest stock holders (Palo Alto, etc) and the Note Holders and ask the question: how and when will the stockholders be getting paid for our outstanding shares (without selling at today's .05 price)? And like you say, if no one can answer that, then the largest stock holders (Palo Alto, etc) and/or the Note Holders should file a lawsuit petition to the have the Bankruptcy Court halt the Strawhorse Auction Sale Agreement and re-address/resolve this. kg
This from a messenger id 'JamesNames' on the Investors Hub msg Bd. Good for him/not for us SVNT Longs!:
"Just read the recent quarterly report.
It seems like this might be a power play against the convertible notes. I like what I see, and I now see why those longs who completely stunned when the BK was filed. When shocks like this happen, you can get huge drops like this, as people are in serious pain.
Lots of longs have life changing financial damage because of this BK filing. I am here to profit from their pain. I have taken losses in my life, as well, so I know how it feels.
The bottom line is that the convertible note holders are going to have to jump in here and put forth a competing plan, or they are going to take a bath. Once they do that, we could really be off to the races with the stock price.
I am going to be watching this closely. I just may buy more as an extreme longshot investment play. I think my average cost being about .041 has me in great shape even if no competing bid emerges from the note holders.
It could be a wild ride up. Remember, institutions owned 44 percent here. They unloaded at any price the first three days. History says that you can profit from that type of selling at any price. You profit by scooping up the shares.
Feeling good here."
leftcoach, just checking in with you. Little status. I of course still have all 20K shrs and don't plan to sell until absolutely have to to prevent owning a worthless security. That may not happen. I am hoping Savient, Lazzard, SEC, FINRA and/or the Bankruptcy court forces Savient to pay us for our outstanding shares still owned prior to the Stalking Horse Auction Sale Agreement. Question is is how long do hold off waiting for that answer before we start getting itchy trigger fingers. The Court Sale Hearing date is Nov 22nd if No other Qualified Bids/No Auction and Dec 4th if there is to be an Auction.
David, why do you suppose the Bankruptcy Court allowed this Stalking Horse Auction Sale Agreement without addressing what's to become of the outstanding shareholder equity (get money for our shares)? What - is the idea we're all supposed to sell out at .03 - .05 shr between now and the Auction? Ha! (If there even is an auction - we might not even get any other bids - could be a rigged deck AGAIN!)? kg
And like you said david, not everyone has sold all there SVNTQ stock shares yet. Not all of the big players either. We're waiting for an announcement from Savient or Lazzard informing us what's to become of our outstanding share holder equity? So far this has not been addressed as part of the Stalking Horse Auction Agreement. Are they going to issue us shrs of the new company, cash us out or rob us blind right in front of the SEC upon Bankruptcy closeout sale hearing? This is the zillion dollar question!
Yeah, but when's the last date you feel comfortable holding onto the shares? The first Court Sale date Nov22nd? Or, when? When is Savient or Lazzard going to notify stockholders what their going to with our outstanding shareholder equity? What - they just sell us out at the Auction and we get nothing?!? I don't think so! Not everyone has sold out there shares. Not all the majority shareholders will sell - at least not until they see an announcement of what Savient plans to do with us. This seems to be the consensus thinking between david.rogers and I at this point. kg
I've got three other stock msg bd sites for SVNTQ but Yahoo won't even post the names, let alone the links!
Board Central, Investors Hub and The Lion
Holler if you need any help finding the msg bds.
Don't have to "look at nasdaq". 5 days ago Savient web site posted all the execs cashing out their stock. Disgusting crooks!
Seems to me Options SP is usually priced much higher than the current market price when there given. So that doesn't seem right either. He can sell his Options anytime soon and gain 100% or more cash! I wonder if RBY felt they needed to give this guy this much incentive just to come aboard - doesn't sound good for stock holders. kg
What DD is there to do to verify that Savient contacted Yahoo and got them to effectively shut down this board (even though it's till here!)? Are you saying you know for sure that Yahoo always grays out just some of the links, like 'Message Boards" immediately real time when a stock symbol changes? I doubt it. I could see the SW shutting the entire msg bd site off, but not just some of the links...
You can also go to the Hub Central Msg Bd, type in SVNTQ and/or SVNT and you'll see more SVNT messengers chatting away. In addition to us *YAhoo) there's two other msg bd sites: Hub Central and The Lion'. Hope that helps. Later. Stay tuned. kg
**** ATTENTION BOARD CENTRAL MESSAGE BOARD USERS - Savient (SVNT) ****
THE YAHOO STOCK MESSAGE BOARD for SAVIENT (SVNT) IS STILL ACTIVE AND WORKING.
The current working link to the SVNT Message Board is: http://finance.yahoo.com/mb/svntq/
And/or can be accessed from the Yahoo stock look up page at: http://finance.yahoo.com/mb/forumview/
Please pass this on!
kg2931 from the Yahoo SVNT Message Board
jtt, so what you're saying is 1) the 8K announced the delisting? (OK, but normally there would also be an accompanying public news release), 2) Yahoo SW automatically changed the msg bd from SVNT to SVNTQ but grayed out the 'Message Boards' link ( I doubt it works that way). Why would Yahoo gray out SVNTQ when it's an active Exchange and SVNTQ's still actively trading on it? Why would the SW automatically connect SVNT to SVNTQ, leave the Msg Bd active but shut off 'Message Boards' and other key links?
I think there has to be human intervention. I think Savient called Yahoo with the news and requested the msg bd link to SVNT and SVNTQ be inaccessible/grayed out.
I mean yeah, so we also went to the OTC Exchange would could trigger Yahoo to deactivate the web sit. But not that fast. Not the day of the Bankruptchy announcement and move to the OTC. I don't care what Yahoo says, their SW alone doesn't catch changes like that that fast without human intervention - I'll be you anything that Savient called Yahoo and requested the msg bd shut off. kg
Thx upkid, I agree. If the other exec's didn't get free options why is this new guy? Do you or anyone here know what the share price is for these Options?