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Dais Analytic Corporation Message Board

lnsideoutsideupsidedown 6 posts  |  Last Activity: May 19, 2014 4:06 PM Member since: Feb 20, 2003
  • Reply to

    What does 33,832,836 shares mean? part 1

    by techread May 19, 2014 10:53 AM
    lnsideoutsideupsidedown lnsideoutsideupsidedown May 19, 2014 4:06 PM Flag

    I suspect the overall reduction in holdings is even higher, due to additional debt conversions over the past few years.

    I don't see anything wrong with PM selling at higher values and the 5-10M per year is really not that bad considering their holding level and length of holding. They have a right realize some profits.

    However I'm more concerned with the 10M in the first 40 days for Q1. That's a lot of shares in a short period on a depressed stock valuation. Why would PM offload substantial holdings at that time?

    But there are a few items, as we discussed that keep me from passing judgement until I know more.

    1) Volume during the timeframe doesn't appear to support 10M shares sold by a singled entity open market.
    2) Rumours from OTL is that somehow PM compensated MG in significant NAVB shares for his separation.
    3) IMO PM has previously sold into strength.

    While the rumours on the OTL are unsubstantiated by the SEC filing rules as we understand them, due to their track record, I'm holding out for judgement until after Q2 per DDB's mention of a possible July confirmation. An amended PM Schedule 13D could reveal more.

  • Reply to

    wow...

    by techread May 12, 2014 10:24 AM
    lnsideoutsideupsidedown lnsideoutsideupsidedown May 12, 2014 2:05 PM Flag

    My point being that if they separated common shares out to another entity, they would still convert preferred to reach back up to the 9.99% mark, in order to still maintain voting influence, this being another scenario to add to your list.

  • Reply to

    wow...

    by techread May 12, 2014 10:24 AM
    lnsideoutsideupsidedown lnsideoutsideupsidedown May 12, 2014 1:36 PM Flag

    we'll have to wait and see. We should get confirmation down the road in future filings based on what the two entities jointly own.

  • Reply to

    wow...

    by techread May 12, 2014 10:24 AM
    lnsideoutsideupsidedown lnsideoutsideupsidedown May 12, 2014 1:22 PM Flag

    Platinum has always tried to maintain 9.99% common shares ownership. This maximized their voting power giving them maximum influence.

  • Reply to

    wow...

    by techread May 12, 2014 10:24 AM
    lnsideoutsideupsidedown lnsideoutsideupsidedown May 12, 2014 12:59 PM Flag

    I think you missed the gist of my previous post..a load of grammar issues and typos probably didn't help. If you look at the 2012 filing, both PPVA and PM jointly owned the same 9,539,684 shares representing 9.99% .. and preferred were noted in the notes. However, In the recent 2013 filing, only PPVA reported owning the common..10M shares representing only 7.5% (less than 9.99% mainly due to Crede dilution) while PM reported only owning the preferred. There is now an explicitly split of ownership (not just within the notes) in the 13D reporting, which did not exist previously. There was a distinctive change in how the ownerships were reported. It could be an error in reporting or a change in the reporting rules, but the reported shares for PPVA coincidentally matches the shares missing from PMs ownership based on the latest 10K reporting. I'm not an expert on 13D and 13G reporting, but I suspect this 13D was what was required to separate shared ownership and we'll see more confirmation of this in future filings.

  • Reply to

    wow...

    by techread May 12, 2014 10:24 AM
    lnsideoutsideupsidedown lnsideoutsideupsidedown May 12, 2014 11:06 AM Flag

    Techread, I don't post nor read hear much, but occasionally I see one of your posts and read it as you have decent analysis. However, I come to the realization that the facts do back up that PM has not sold. If you look at the last 13D that was filed, there was a subtle difference to previous filings. Previous filings had PM and PPVA funds showing shared voting power for the entire NAVB PP ownership. However, this time around PPVA has shared voting power for only 10M while PM has voting power for the remaining (series B equivalents), so the shares have been separated between these two entities in the 13D reporting. The 10M with PPVA are the same number of shares that calculated to what PM has lightened their portfolio with. Any It's subtle, but the 10K reporting specifically states PM and not PP or PPVA and if PM is no longer claiming those 10M shares, but leaving PPVA to claim the remaining, this accounts for the discrepancy while showing PP as a group is not selling. As now two separate entities, only PPM is at the 9.99% level and they subsequently converted 14M shares from preferred to get to the 9.995level, after already carving out the 10M to PPVA. As to the shares going to MG, I don't know, but it appears to me these shares had been specifically carved out from PM per PP last 13D filing, and the 13D filing to show this was back on 11/13/13.

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