Yesterday, MLNK dir. Philip E. Lengyel sold 12,575 of his share for an average price of $3.958.
He continues to hold 22,222 shares.
I don't see any other SEC filings tonight, which I think means that HnH didn't buy any shares on Monday.
On 03/19/2015, they bought 497 shares at a price of $3.68.
On 03/20/2015, they bought 128,553 shares at an average price of $3.6997.
That bring the total of their direct holdings to 2,427,906 shares.
The 128,553-share buy on Friday confirms my suspicion that they were in the market for more than their usual amount. Today's volume and bump in price make me think they were at it again today, and if so, we should see an amended 13D filing very soon laying out the group's total position - I think it's somewhere around 35% of shares outstanding.
My trading site is showing volume of 588,800 shares today. It's possible we may see an after hour trade, but for MLNK this is fairly high daily volume (I believe the average is pretty close to 200,000). The last occasion that MLNK volume surpassed 500K, we found out that HnH was the buyer of 273K of those shares (Mar 6), so it may be logical to assume HnH was buying a bit more today - we'll soon know. IF HnH was a big buyer and bought their average quota of shares yesterday, we should soon see a new amended 13D filing.
On 03/17/2015, they bought another 40,329 MLNK shares at an average price of $3.6619
On 03/18/2015, they bought another 30,000 MLNK shares at an average price of $3.67.
That brings their total holdings up to 2,298,856 shares.
I continue 2b impressed by their slow but steady accumulation of shares.
On Friday, 03/13/2015 , they bought 42,652 shares at an average price of $3.6164.
On Monday, 03/16/2015, they bought 40,329 shares at an average of $3.6235.
That brings their total of direct holdings to 2,228,527 MLNK shares.
I need to go back through these reports to see how often the 42,652-share figure appears. I'm wondering if it's somehow related to the sales of the MLNK shares aggregated following the forward/reverse split.
I used a variant of my posting name for a previous post to see if I could evade whatever problem Yahoo has with posts, so if you look back, you'll see 00 instead of oo in the spooky nom de plume.
I found it interesting that we were able to see the results (via the 10Q) on Thursday of last week, when the company released their PR on Monday this week - maybe that's the reason posts about the earnings were deleted??
Because the Form 3 filing is showing 1,265,375 MED shares, I'm assuming that Moduslink at some point added 4,450 MED shares to the position they reported in Aug. I'm betting that comes VERY close to the 10% "poison pill" limit imposed by Medifast after Moduslink's share holdings were reported.
I just checked MED's last 10Q, and it's showing 12,060,558 shares outstanding. That was as of Nov 10 though, and it looks as if they've been granting themselves a lot company shares since then. I'm betting that their latest 10Q (due soon) will show something like 12.66M shares o/s. This MAY show that MLNK is serious about buying as much MED as they can on the open market.
There's a Form 3 filing on the SEC site showing Moduslink with a 1,265,375-share position in MED. A Form 3 filing is interesting, since it is an "Initial statement of beneficial ownership of securities, " and we know that MLNK filed a report on a purchase of 1,260,925 MED shares back in August of last year.
Looking over the Form 3 filing, I did notice something new - ModusLink Securities Corp is listed as one of the group owning the MED shares. My guess is that MLNK has formed a subsidiary to handle their securities transactions.
I got in late last night, and took a quick look at the 10Q filing. I've got some observations, but it looks as if some of the posts aren't getting through.
On 03/09/2015, they purchased 42,652 MLNK shares at a price of $3.66 per share.
On 03/10/2015, they purchased 42,652 @ an average of price of $3.5378.
That brings their direct holdings as of yesterday to 2,070,928 MLNK shares.
Interesting that they bought the exact same amount of shares on Mon. & Tues. Also interesting that they seem 2b able to continue to buy shares without causing an appreciable bump up in the share price. On this occasion, they were aided by the "timely" announcement of a shelf offering, as that almost always puts downward pressure on share prices.
I just took a quick look back through the last several earnings reports, and in general, MLNK reports after the market close, so I guess we should be looking for something tomorrow, though I probably won't be back from the latest in what seems like an endless series of doctors' appointments. I'm looking forward to picking through their 10Q for any small scraps of information.
Wellington is out with an amended 13G filing tonight showing holdings of 4,959,517 SONS shares, which equates to just over 10% of shares o/s.
On 03/05/2015, they bought 46,354 MLNK shares at an average price of $3.695.
On 03/06/2015, they bought 273,300 MLNK shares @ an average price of $3.74.
That brings their total direct holdings (as of 3/6) to 1,985,624 shares, as reported earlier in the 13D/A filing. It will be interesting to see if H&H continues to accumulate shares this week.
In thinking about the $100M shelf offering prospectus filed today, it occurred to me that IF (note caps), HnH were to buy all or most of a common stock offering, that would bring them up to the 45% ownership figure cited in a previous agreement with the MLNK B.O.D. I'm not saying I think this is what's going to happen, but it would be a way for them to buy a large amount of MLNK shares without putting upward pressure on the share price. Just a thought, and pure blue-sky speculation. Any other theories welcomed.
We might gain a bit of visibility here when the company releases the 10Q for the quarter ended Jan 31 sometime this week.
In a 13D/A filing after the close today, H&H/Steel et al. updated their MLNK holdings. From the filing:
This statement reports an aggregate of 18,141,605 Shares, including 2,000,000 Shares underlying currently exercisable Warrants, constituting approximately 33.4% of the Shares outstanding.
The previous 13D/A filing on Feb11 reported:
This statement reports an aggregate of 17,318,008 Shares, including 2,000,000 Shares underlying currently exercisable Warrants, constituting approximately 31.9% of the Shares outstanding.
So, according to my calculations, the "group" has added around 823.6K shares in a bit less than 1 month.
In today's filing we find this statement:
As of the close of business on March 6, 2015, HNH owned directly 1,985,624 Shares, constituting approximately 3.8% of the Shares outstanding.
In their last Form 4 filing, H&H reported direct ownership of 1,665,970 shares as of Mar. 4. That appears to mean that they purchased 319,654 shares Thurs & Fri (the 5th & 6th) of last week. Recall the big block of 219,500 shares that crossed on Friday morning - it looks as if H&H was the buyer. We should see a Form 4 filing later tonight confirming this.
Share price tanked right about the time the SEC published it (1:41).
Here's a clip:
Use of Proceeds
Unless otherwise indicated in any applicable prospectus supplement, the net proceeds from any sale of securities by us will be used for general corporate purposes, which may include potential acquisitions and other strategic business opportunities. No material acquisitions are probable at this time. If we decide to use the net proceeds from a particular offering of securities for a specific purpose other than as set forth above, we will describe that in the related prospectus supplement. In the case of a sale of common stock by the selling stockholder, we will not receive any of the proceeds from such sale. We will receive proceeds from the exercise of warrants by the selling stockholder.
Pretty much exactly what they've said all along - boilerplate language, but why raise this kind of money if you're NOT going to do a deal??