Also bought more SFY today at $9.56.
Good insider buying in both suggests that time will heal the current wounds.
That said, I wouldn't be surprised to see this sucker go lower.
Stop the BS about manipulation. Its just the market.
Im long but don't blame others for my mistakes.
They didn't even attempt to put a discount on its value....
In our opinion, calculation and application of a discount representing the perceived burdens of the legal obligation to acquire, maintain and retain the collection as an intact whole or the public knowledge of the collection’s previous failure to sell are considerations inappropriate to this assignment.
Given the magnitude of the Titanic collection, it is reasonable to accept that all the conditions implicit in the definition of Market Value may not exist at any particular time.
Furthermore, considering the unique nature of the Titanic collection, application of a discount is contrary to the definition of Market Value in that it implies undue stimulus to sell.
Even if a discount was determined to be applicable, insufficient market data exists to calculate it without arriving at a falsely accurate and misleading outcome.
Mark A. Sellers III, Managing Partner
October 21, 2014
Below is an excerpt from my letter dated May 31, 2013:
The saga of the Fund’s investment in Premier Exhibitions has been a long and interesting, and sometimes arduous, journey. The road has turned out to be longer than I thought it would be when we began the journey almost five years ago. I hope many of you will continue traveling with me until I can see things to a close. I want to thank all of you for your patience and support.
“Almost five years ago” has turned into “almost seven years ago.” But today I’m happy to announce that finally, we have entered into a deal to sell our entire position in Premier for $1.05 a share to the Armada Group, a company based in Florida. This represents a 42% premium to the stock price on the day of signing.
While I still believe in the underlying premise of our investment in Premier, the company continues to have significant unmet capital and operational needs to become successful. Unfortunately, the Fund and Sellers Capital are unable to fulfill those needs for Premier. In fact, the continued holding of our position may be an impediment to the company’s growth. The potential distribution of our shares (representing more than a year’s total trading volume) and the insufficiency of capital necessary to stabilize and grow the business may be holding back the stock price. As a result, the realization of greater value for the Fund’s investment is unlikely in any reasonably foreseeable time frame for the Fund. That is why I’ve decided to sell our block to Armada, as it is both willing and capable of purchasing the Fund’s investment outright on superior terms relative to current market conditions and Premier’s current status. In short, I believe that this is a prudent time to sell, and a fair and reasonable opportunity to do so.
We hope to close this sale by the end of October and will provide a distribution shortly thereafter. Over the next two weeks,
Well, come march, we wont be at $7.38, more like at least $10.
But, we need the board to add some new directors with some skin in the game
This is one of the top 15 most hated stocks for a reason and the board needs to make changes because the old way clearly isn't working or we wouldn't be below $15.
My problem is look how well CBRL has done while BH has not.
We would have made far more money selling BH and buying CBRL.
Hasn't done #$%$ and the stock is still trading ?
Yeah, they have some sales I guess. But to be worth $100+ million ?
We know their window was open on the 28th. So why has only 1 taken advantage and for only 25k shares ?
Watch it Steve, they will come after you too.
They are coming after yahoo for my info. Which is kind of amusing since they already know who I am. I guess this might scare off some patsies that are insecure of their position.
NOTICE OF LEGAL DEMAND FOR DATA
We are writing to inform you that Yahoo has been served with legal process requiring the disclosure of information relating to your Yahoo account.
You really don't make yourself look good with your continued nonsense here.
Granted, a case can be made that the stock is overvalued even assuming they do as expected for the next 2 years.
But you are just taking this way too personal and too seriously.
The stock is not overvalued if they can have sure & steady growth in both sales & earnings for the next 3-4 years. And their track record of a 10+ bagger in the past shows they know what they are doing and have done it before.
There is simply no rational reason why this 75 year old man would want to mislead or scam investors for his swan song.
Type messageThe FACTS are solidly on my side. TRUTH is on my side.
GAAP losses of over $64 million.
Nuway oil & gas=Belly up.
Nuway Medical=Belly up
Beep for free=Belly up.
Back in Jan 13.
Most of the touters don't disclose properly. These guys do.
And the motivation by any of them to perpetuate a fraud ?
Business model is not dead. Mason tried to kill it but she failed.
As for X-mas, Id wager at least 7-8% positive comps. That wont tank the stock.
Now, I agree that they had better show a nice bottom line..