The folks involved in the offering had the news.
These public offerings are just sec sanctioned free money vehicles for the investment bankers.
One had bad things to say.
Apparently the CFO reported the CEO for shady practices, excessive spending.
That's probably why the stock is down.
Sounds like he needs to be ousted.
But, Im thinking the market is now realizing its going to take longer than expected to show the EPS that would have justified higher prices.
A green light for me would be Becker Drapkin buying back in.
Who knows, if it drops a few points maybe they will ?
Im not going to stop exposing these guys. ever.
And CA law calls for them to reimburse my attorney fees when the case gets thrown out as it almost assuredly will.
Next step is apparently figuring out how to serve me by publication which seems over their head.
35 MINUTES FINALIZED FOR MULTIPLE EVENTS 05/15/2015 09:30:00 AM. 05/19/2015 1 pages
34 ORDER TO SHOW CAUSE RE: DISMISSAL CONTINUED TO 07/10/2015 AT 09:30 AM IN THIS DEPARTMENT. 05/15/2015 NV
33 CASE MANAGEMENT CONFERENCE CONTINUED TO 07/10/2015 AT 09:30 AM IN THIS DEPARTMENT. 05/15/2015 NV
32 ORDER TO SHOW CAUSE RE: DISMISSAL SCHEDULED FOR 07/10/2015 AT 09:30:00 AM IN C15 AT CENTRAL JUSTICE CENTER. 05/15/2015 NV
31 CASE MANAGEMENT CONFERENCE SCHEDULED FOR 07/10/2015 AT 09:30:00 AM IN C15 AT CENTRAL JUSTICE CENTER.
Not sure if this talk will lead to anything in the near term or not. If it does, great. If not, I feel like it might be worth more later after its fixed.
The risk is we fall back to $9 if nothing happens.
With $11.50 in real estate per Gabelli, Im confortable here.
Gores just got cold feel like someone who just leased a new car and realized they couldn't afford it.
For me $13.50-14.50 is what Im looking for within 12-18 months although I might take a quick deal at $12.50.
If it falls back, I would probably increase my position.
Ive had a fairly good trading record with PBY over the years. Hope that continues. But I don't claim to know everything.
Ive provided a massive roadmap of evidence. Ignore it if you want.
Like I said, I might be posting once or twice a month. But they are SUING ME.
They have no chance of winning so they are spending YOUR money to shut me up. And hoping that I will shut up instead of spending money to get the case thrown out.
Their plan BACKFIRED bigtime.
The truth remains and their SEC filings back up pretty much everything Ive been saying for the last 12-13 years.
Doesn't it both you they are essentially selling shares with a death spiral convertible ? Do you even "get it" ?
The want money so bad they don't care how low the stock must go to sell it.
Unless they think the current board would not be receptive to a deal.
Or maybe they didn't see this coming ?
I did....not now but eventually. I didn't know exactly when.
In any event, it cant hurt to elect a couple of the Gabelli guys and I suspect they will reach some kind of deal in that regard.
I don't think private equity is interested in overpaying.
I suspect they want to pay $11-11.50.
Hopefully we can get them to $12. But, Id LOVE $13-14.
Interest does not mean a buyout.
But hopefully it will lead to one.
For at least $12.
I rarely own a stock mostly for a takeover but with PBY, I do/did.
Please, buy more. Show me. Ignore the last 15 years. Calvert is a hero; Give him money.
Wait, you don't want his shares either and you are selling ?