When the part of the CLO was being discussed, I could not keep on thinking that this reminded me of the Good bank bad bank spin offs of 2008. Where bank would put all of their toxic assets into a spin off bank.
I thought that the reason for a CLO spin off was to get away from the tax issues of gains on these CLOs. Was that not the reason for the action last year when PSEC was answering questions to the Government?
looks like the clo deal is not going to happen soon. Sounded like this quarter was out and it might occur in the next. The push was to bring value to PSEC. PSEC would retain 25% of the new company. The spin was on value to PSEC shareholders.
I like it when I can hear the people ask the questions , then have follow ups. The written question period lacked spontaneity.
Ya they are making money, for them in fees. Look they could have done the same thing when they did the reverse split on these funds.
@psac I guess your short on PSEC? Did you short too low? At any rate it seems as if PSEC is talking about those CLO's, Close end fund managers may want their book on those CLO's It would seem that it would make sense to spin them off to someone in that market. Nuveen Funds
Blackrock, Eaton Vance ,Kayne Anderson Capital, Invesco Cohen & Steers Capital Management, Inc.
Pacific Investment Management Company, Legg Mason Partners Funds all seem to be in that type of a market.
Maybe even PSEC could have one of them set it up for them. They seem to be working on something, and they did say they did not want to tip their hand so others could do the same thing.
Anyone think that PSEC could spin the CLO part off to a Close end Fund managing Senior loans or the like. Or even, could PSEC make a loan to a spin off a CEF and hold options, stock, in that CEF as a loan on their books?
Growing is not the only thing for CANN, packages, safty bags ect, are some of the other items they are suppose to be envolved with. Then again don't think just one area, or country.
Calandrella agreed to transfer back to ACS about 1.125 million shares of its common stock that he and the Rockies Fund held, and another 50,000 shares back to a profit-sharing plan that sold them to Calandrella, according to a copy of the agreement filed with the Securities and Exchange Commission.
Pot company settles lawsuit with investor
By David Migoya
The Denver Pos
"We are optimistic this is a strong statement to the SEC that we've taken as much action we can against the person we believed was responsible in the first place, and demonstrate that we've done all we can to show the markets we are ready to be relisted," CEO Robert Frichtel said.
Calandrella did not respond to efforts to reach him.
The Securities and Exchange Commission last spring delisted ACS from trading while it investigated. Petitions to relist the company remain under consideration.
ACS in October announced it had purchased property in southeast Denver, a former Bank of the West branch that it said will be used as a business incubator for the marijuana industry.
Something is going on, they are already at their average volume at 1:22
Maybe they are getting a boost from the small bankers that were at the senate meeting yesterday.
I wonder is CANN gets back on a bigger exchange if that wil push the stock. On the conference calll they talked about that $4 option they had on CANN.