Having the usual insiders belly up would not be a surprise at all, seeing the lesser players cough up some dough is more impressive. $3 mil is a lot, It will be interesting to see how they split it up.
It certainly look they tried to fund it without diluting the PPS. I heard there was NO discussion of a RS at the mtg at all. It appears they have intentions of getting it over a buck by next Jan. Possibly wishful thinking, but at least they are trying. It's all execution now.
But you didn't answer my question - why are you still here?
Actually, as I am sure you have realized by now, I really don't give a damn why you are here or what you post, but I do not see the logic in why someone would be paying you at this point, but what the hell, some fool out there seems to think it is the smart thing to do. I guess we'll see, and fairly soon.
It is curious why you have continued to relentlessly bash this stock. It was down below $.20 and yet you continued. If you truly are a professional short stock employee and get paid to do it, it raises the question of how low would it need to go for your guys to cover, or are you bashing it to $.0. The majority of the short money would already be "in the bank", unless your guys see complete default and that is hard to imagine with the money the insiders have obviously continued to prop it up with. That won't stop.
Unless the reason for your bashing is you are just a plain old fashioned "disgruntled employee". Now that makes a lot more sense. You must have a helluva ax to grind. If ADAT ever really turns things around to even a moderate success, or just survival, all of your effort would just end up being a huge waste of time. I guess that would just be one more reason to be even more "disgruntled". You better take another Motrin tonight.
"Form D is a brief notice that includes the names and addresses of the company’s promoters, executive officers and directors, and some details about the offering, but contains little other information"
it would seem that there is no indication as to who the "accredited investors" may have been. The listing of the BOD, etc in the filing does not indicate they were, or were not the investors.
I believe the offering is to "accredited investors" only. I could not tell by this last filing if the BOD were actually the insiders or were just on record as agreeing to the offering. It was an unusual form to me and I have not taken the time to google its full explanation and description yet. Either way I would have thought there may be some dilution from the offering but it appears as if the strength of having the financing in place is offsetting any dilution. Either way there appears to be some significant buyers, but then again at 25 cents @ share it doesn't add up to very much for a real player.
On the other hand - up is better than down, and the volume is interesting.
He came on board before it all hit the fan. I believe his 6 month employment contract is due to renegotiate in August. I wouldn't be surprised if Lazarus has made commitments to him so he stays. At this point in time it is Lazarus' BOD and CEO. It's their show -
Laz now has a exercise price of around $,35 for something like 6 mil shares. If they can get the PPS to $.80 for all intents their losses (or most of them) are covered if they can make the company survive.
No faith in new mgmt until there are results. So far 3 1/2 months in and there is nothing but talk in the CC of maybe 1 new contract and lots of great things right around the corner. Thought it was a tape of one of Ben's CC's.
IMO, the only plan that means anything at this point is revenue, in other words new sales.
I expect a private raise of some sort and the structure may give some sort of indication as to how much faith the "accredited investors" have in Bonnet, the future and the product, or if it will just be the same old thing.
I think you are pretty close. I think they actually have a couple of extensions they could file if they want to that would drag the RS out, however I also think it's pretty damn hard to sell your product to potential customers or investors when your share price is only $.21, so for marketing purposes I would imagine they are looking at a RS fairly soon. I believe they really need to boost the SP up if at all possible before a RS. I think there are only around 50M or so shares trading and with a 6 or 7 to 1 RS, although that would get it over a buck it would leave less than 10 million shares trading and the lack of liquidity could leave it open to increased manipulation and volatility.
Two insiders just put about 1.4M into this company and things point to this next raise being preferred shares, probably to accredited investors. I really can't imagine knowledgable insiders putting more money into this thing if they thought Bonnet didn't stand a chance of turning it around. Owning millions of shares is meaningless if they aren't worth anything.
Bottom line - IMO reverse splits generally suck and only create more room to fall and milk every dime out that mgmt can. However if the only people investing money are insiders, that gets more interesting.
Would love to hear varying "serious" vewpoints.
From what I have seen and heard you would be correct.
Lazarus and Luce evidently still have faith as seen by their continued financial support. Considering the past couple of months that would seem to speak volumes at this point.. I would expect news of some sort before the May meeting.
That is indeed the question.. They told us for a number of years how good their technology and product was (and that made some sense - otherwise why would the VA have put them on the contract to begin with) but a few years later the VA said goodbye. Did others catch up and surpass them? Who knows?
The new CEO said ADAT's product was unable to be priced competitively compared to the competiton. I can understand that with monitors, but there is little overhead with the IVR and the new web based app, so I question why they could not be priced competitvely with those products. Which brings up your question.
I don't think we yet know.
Yea, I think they have 60-70M + or so shares committed at this point, so I can see if they found a white knight they might need more than the 30M or so left to do a deal. 150M seems a bit much, but might as well get it all done at one time.
My concern is I think preferred could dictate policy over common if issued. Sure doesn't matter right now but if they were to succeed at some point, common is in 2nd place and preferred owners run the show. You know all that stuff a lot better. I'm just playing what-ifs.
I've been waiting for preferred. I assumed Laz would want complete control. Scraps would be a consideration, or if they pull off a miracle -privatization option. I just am curious why 5M of them.
Between the original contract, IVR, and web app, Med groups, Hospital groups, Kyocera, etc, numerous missed opportunities. Bonnet seems to be the key at this point. It's all about money now.