Would seem like they would have to do another extension soon unless the property sold.
EDCI Holdings, Inc. Announces Approval of the Extension of EDCI’s Existence
Dec 19, 2012
OTC Disclosure & News Service
New York, NY -
NEW YORK, (Wednesday), December 19, 2012 /OTC News & Disclosure Service/ -- EDCI Holdings, Inc. (the “Company” or “EDCI”), today announced that the Company has received approval from the Court of Chancery of the State of Delaware for an extension of EDCI’s existence beyond January 25, 2013. The extension is effective through Jan 25, 2015, or such earlier date as all the assets of the Company are distributed, and subject to further extensions as may be requested and approved.
Looks like that $1.18 includes liquidation accuruals. They had the property on the books for $5.4 million but included $1.2 million so I think that's a net $4.2 million.
But, they said they were expecting about $50k per month in carrying costs. which I guess their entire $1.2 million is used up by now.
Whoever bought at the close on the 31st was painting the tape clear as day. 10k at 90 cents.
Still, I think we could reasonably end up with $1.10-1.25 per share. Whenever.
Assets Held for Sale as of September 30, 2012, consists of EDC’s Kings Mountain, North Carolina facility (“Kings Mountain Facility’), which formerly housed EDC’s U.S. manufacturing operations. EDC has listed the Kings Mountain Facility for sale since the second quarter of 2009 and is currently unable to predict when a successful transaction involving the sale of this facility will occur. Annual carrying costs related to maintaining the Kings Mountain Facility in a condition to be sold are estimated to be approximately $0.6 million. Given the continued uncertainty with regard to the timing of a successful sale transaction, EDC increased its accrual for carrying costs related to the Kings Mountain Facility by $1.0 million in the third quarter of 2012. As such, $1.2 million of carrying costs remain accrued as part of the liquidation accrual as of September 30, 2012, which represents approximately two years of carrying costs.
At the time, the share count was 5,929,123.
That's $1.18 per share. Less ongoing expenses if they were not included. Not sure how much of that was the property and how much was cash. Maybe I will look more later ?
Form 4 BIOLARGO, INC. For: Dec 30 Filed by: CALVERT DENNIS P
It appears Calvert "gave away" 550,000 shares on 12/30.
Gee, if I lived next door and he let me short 550k shares at say 40 cents, Id be happy to give him $100k or so in exchange for his "gift".
And that, ladies & gents, is how Insiders can sell without reporting their sales.
Heads they win, tails you lose.
Item 3.02. Unregistered Sales of Equity Securities.
On December 19, 2014 Millennium Healthcare Inc. (the "Company"), in accordance with the terms of a warrant agreement entered into on December 19, 2014 (the "Agreement'), agreed to issue 3,250,000 shares of common stock in exchange for a warrant that had been issued on February 21, 2013 and was initially exercisable for 1,000,000 shares of common stock at $0.50 per share. The original warrant was cancelled immediately upon issuance of the shares of common stock. In addition, in accordance with the terms of the Agreement, the Company issued a new warrant exercisable for 3,000,000 shares of common stock at an exercise price of $0.16 per share (the "New Warrant") in exchange for a warrant that had been issued on February 21, 2013 and was initially exercisable for 1,000,000 share of common stock at $1.00 per share. The terms of the New Warrant are similar to those of the prior warrant other than numbers of shares underlying the warrant, exercise price and the elimination of the price protection anti-dilution provision.
You have enemies? Good. That means you've stood up for something, sometime in your life.
I dare say that ANYONE who has seen what they have done over the last 12+ years like I have would be doing the same thing.
And when I say I will take this to the end of the earth, I mean it.
No court in the world would rule against the truth and for a scamster.
Just figured my annualized return over 10.4 years and I get about 13%.
Not terrible considering they took it dark too.
But its time to either explain why its worth a lot more or sell it.
To Miller or HNH or whomever.
$10 now beats the heck out of a $8 share price 3 years from now..
If they don't sell, they need to commit to a buyback to keep it from tanking 20-30%.
So if they don't think $10 is fair, they have no excuse for not buying all they can get at $8.50.
Very good question. Id hate for them to sell for $10 if they could get $12-14 in a few years.
But the concern is their stonewalling will cause the stock to fall back to $7.
No easy answer. Maybe sell half ?
Most of us have been in here a very long time.
I bought 8/18/04 at an avg cost of $2.65. I believe I followed Miller. Steele and/or Insiders. Cant recall exactly but usually when you have multiple insiders and a 13d holder or two, good things can happen.
I wouldn't mind deferring the gains but I don't want the stock to fall back to $7 either so they need to EXPLAIN why its worth more if they don't sell it or put it on the block.
I may try to call or write them too.
Doesn't mention biglari isn't personally buying, doesn't mention the control issue and its just wrong on the last time he bought stock.
And other insiders HAVE bought. Just one very recently if I recall.
I don't recall either as to how many shares outstanding. Had to look up how many shares I still own.
I know my cost basis is zero though. But I did expect something to happen by now.
Looks like its listed for $4.75 million.
Saw a chart of asking rental rates in that area and its been trending down for several years.
I guess our eventual payout depends on the proceeds.
The trade happened 1 second before the close, it showed a bid/.ask for 75 cents to 90 cents at the time.
I could not find any news or SEC filings that would account for the increase.
The last news was an SEC filing extending their existence thru 1/25/2015.
So its been over 2 years. Their website is offline
I left a message at (646) 201-9549 but past messages have not been returned so Im not optimistic.
Stock went ex-dividend today so $2.25 per share is in limbo for a while.
One site shows FUR as one of the days biggest losers but they are not considering the ex dividend.
Looks like this guy dumped 200k total held by HSMR Advisors and 10k held personally so he is down to 25,630.
But Director McCabe has been in there buying up 178,200 total.
I added to my position with a favorable fill this morning at $1.06 Had bought previously this year at $1.13-1.14.
+ prior at lower prices.
Murray J. McCabe Joins Blum Capital Partners as Senior Partner
SAN FRANCISCO -- August 15, 2012
Blum Capital Partners, a leading investment firm active in investing in both
privately structured investments as well as strategic blocks of publicly
traded securities, today announced that Murray J. McCabe will join the firm as
a senior partner, effective September 4, 2012. He will be responsible for
overseeing and managing Blum Capital’s global real estate related investment
initiatives, focusing on distressed debt, opportunistic equity investments,
and structured investments in public securities.
Mr. McCabe, 44, joins the firm after an expansive 20 year career at J.P.
Morgan, most recently leading its real estate efforts as global head of real
estate investment banking, and previously as head of real estate mergers and
“Murray is a highly respected real estate professional and we are delighted to
have someone of his caliber join our team,” said Richard Blum, Founder and
Chairman of Blum Capital Partners.
Well, Im not sure of the low 40s again. But mid 40s I could agree with.
Im in a bad position in that I don't really have a full sized position and I could stand more, but neither buying nor selling appeals to me at current prices.