From the SEC Filing Dec.1..........
After giving effect to the Public Offering and the Preferred Share Exchange, the Company has 129,794,378 issued and outstanding share of Common Stock, excluding the underwriters’ over-allotment option, of which RVL and Aston Capital beneficially own 82,253,863 shares, or approximately 64%. The Company no longer has any issued and outstanding shares of Preferred Stock.
By holding 64% of the total stock RVL and Aston Capital now control RVLT. They did it by BUYING UP THE OFFERING and converting their preferred stock to common stock to obtain the "Voting Rights".
Whatever their plan is they don't want shareholders in the way. Somebody say LAWSUIT.
Who else would buy an offering for $1.25 the same week is down to 98 cents a share, down over 20%. The stock wasn't worth $1.25 but that didn't matter they just need more number of shares to gain control. That's my take and I might be wrong. I'm just an old investor that's been around the block a few times and have seen many scams in my lifetime.
I'am not sure what the mgmt. plan is for the future but I would guess they have reached an agreement with another company to be merge with and the current mgmt. getting a sweetheart deal of some sorts that the current shareholders may not like so they want better control over the shares outstanding. They are not worried about BK or they wouldn't give up the preferred shares. The profit loss was double that of last year which was also double the loss of the prior year. They can't keep having a net loss that keeps increasing each year but they do have assets and revenue that would benefit another company. Just a guess on my part but you CAN BET mgmt. has something in the works that will cover THEIR A.s.s..........
VOTING RIGHTS !
Common shares represent ownership in a company and a claim (dividends) on a portion of profits. Investors get one vote per share to elect the board members, who oversee the major decisions made by management.
Over the long term, common stock, by means of capital growth, yields higher returns than almost every other investment. This higher return comes at a cost since common stocks entail the most risk. If a company goes bankrupt and liquidates, the common shareholders will not receive money until the creditors, bondholders and preferred shareholders are paid.
Preferred stock represents some degree of ownership in a company but usually doesn't come with the same voting rights.
Voting Rights control who will be on the BOD running the company.
Tax loss selling...Lapenta and Depalma converted all of their preferred stock into common. Check out the SEC fillings.
I don't think it was "tax selling". Common stock has "voting rights". Preferred stock does not !
Just in from Varney Fox News, The gas station across from the street from the station selling gas @ $1.99 just lowered its price to $1.98 ! (sorry no stamps, glasses, and clean your own windows !)
AH, 11 cents. That reminds me of LPSN 20K @ 0.11 which I sold @ 0.99 not to be greedy. The stock is now $13.59
Another big mistake was selling PCLN @ $5 it is now $1,144.44
If I only would have buy and held I won't be wasting time on a MB !
say it isn't so
O.K., it isn't so.
I will say this is an interesting stock to follow but I wouldn't be in it.
That being said I might be in it IF THEY STOP LOSING MONEY. As soon as they show a net profit instead of a net loss and it is EARNED EARNINGS not a tax benefit mixed in to make the profits positive then I will buy into it and so will a long line of investors waiting for that to happen.. They have no problem with revenue but you have to generate "NET POSITIVE EARNINGS" at some point. SHOW ME THE MONEY !
Just in Fox News, cheapest gas $2.07 in Oklahoma expected to be $1.99 or lower buy the end of the week.
The trader on Varney (Fox News) said oil will continue to drop below $60.
Gee, who would want to buy if the stock has been heading down? You and "super" have any idea 'bout that?
Maybe you would ! Go ahead buy it. Take your best shot. Maybe somebody will buy the company for 2 bucks a share. Take your best shot, it's your money.
let me explain something for you. When the stock is going down on high volume that means the trades are on the "BID" price the term wallstreet uses is the stock is moving on "sell trades". if the PPS goes up then the trades are on the "ASK" side the term is "buy trades". This stock is selling off on a GREAT MARKET day which is not a good sign. Good Luck!
....maybe with this drop today into the mid -$10's
When you check the PPS with a small cap stock like SPCB always check the volume too. This morning the stock dropped on volume less than 20K. Today with less than 2hrs left the volume is only 85K less than half the normal. Without volume up or down movement means little and to get volume in this small cap you need news ! Yesterday the volume was only 54K on that down draft less than a 1/3 the normal and the shorten trading day last week was only 13K.
SPCB will do just fine.
I don't think so. They need to have a certain % of the outstanding shares and no lawsuits. I have seen mergers stopped for a better price and the shareholders just won't sell at the orginal offer so it does happen. In many cases another company will offer shareholders a better price for their shares. The key is if the shares start trading for more than the offered price.
We will get a better idea this morning. If there is enough support for a PPS higher than $17 then investors will pay more and the share price traded will be above $17 expecting another offer or a "white knight" to make a better offer. If not $17 is a done deal.
"Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Major institutions are defined as firms or individuals that exercise investment discretion, over the assets of others, in excess of $100 Million. Major institutions include financial holdings companies, banks, insurance companies, mutual fund managers, portfolio managers, self managed pension and endowment funds. The report is limited to equity securities, including common and equivalents, convertible preferred and convertible bonds. The report does not include fixed income, real estate, or cash equivalents. Reports are filed within 45 days after calendar quarter end with the vast majority of updates occurring near the 45th day of the quarter"
Institutions that increase positions added 512K shares those that decreased positions sold 3.229M shares.
3 Institutions open new positions buying 47K shares. while 8 institution Sold Out their positions selling 2.540M shares.
Check it out at the NASDAQ s.i.t.e. search RVLT , click Institutional holdings.
BOTTOM LINE, THEIR DUMPING THE STOCK BIG TIME !
That's what they just said of Fox News ! There are only 2 states with Gas over 3 bucks, N.Y. and Conn. and by the end of this week there will be some southern states below $2/gal.
This was one of my most loved stocks, the chart for 1 year was as steady upward as you can get but I sold out at 6.69 thinking I made a big error selling at that price. I want back in but I will wait until it's well on its way up and choose to miss the early gains. It's still a great company in a not so great field at this time.
. Oil recovering from 63 to 66. Hang in there everyone.
Any recovering is temp. 1 step forward, 2 steps backwards. The experts say Oil will drop more in an effort to stop U.S. production and no one knows if that can be done.
Tony Hicks, chief international officer at LeapFrog, says toy sales escalate in November and December
GEE, I WONDER WHY THAT IS ??????
"Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission. Major institutions are defined as firms or individuals that exercise investment discretion, over the assets of others, in excess of $100 Million. Major institutions include financial holdings companies, banks, insurance companies, mutual fund managers, portfolio managers, self managed pension and endowment funds. The report is limited to equity securities, including common and equivalents, convertible preferred and convertible bonds. The report does not include fixed income, real estate, or cash equivalents. Reports are filed within 45 days after calendar quarter end with the vast majority of updates occurring near the 45th day of the quarter".
SPCB Institutional Ownership is 4.95%
Of the 16 current Institutions 10 increased positions (344K) vs 6 that decreased positions (38K).
5 Institutions open NEW positions, (179K vs 3 that SOLDOUT positions, (35K).
You can find these numbers @ the NASDAQ s.i.t.e.. Search your stock and click on Institutional Holdings.
Institutional holdings are the key to PPS trend and can move a stock, SPCB is headed in the right direction !
Check your other holdings, I did and FOLD AVNR TSEM PLNR IG RFMD and WLDN are some of mind that show major Institutional gains. Good Luck !