posted
Interesting piece of info here. Looks like when people thought the WHKA stock crashed due to a restricted stock screw up, it was really due to managment printing shares. I hadn't followed up on WHKA lately, so I hadn't heard this.:
Global Developments Inc. (PINKSHEETS: GBDP) announces that it has cancelled its previously announced dividend of its holdings in World Hockey Association common stock and postponed it until further notice. Due to the significant decrease in the market value of the common stock of World Hockey Association (PINKSHEETS: WHKA), the proposed dividend became uneconomical with respect to the cost of notice and delivery to Global's shareholders.
Global has since learned that the management of World Hockey Association, commencing sometime during November 2006, began issuing large amounts of common stock. From November 2006 to December 12, 2006, the number of issued and outstanding shares increased from approximately 32,000,000 common shares issued and outstanding to 157,854,076 common shares issued and outstanding, the majority of which were issued to insiders and management.
Under the terms of Global's financing agreement with World Hockey Association, Global is granted a non-dilutive 40% interest in the common stock of World Hockey Association. Global has asked its legal counsel to commence an inquiry as to whether the issuance of this common stock was valid and legal and whether the management of World Hockey Association breached its fiduciary duty to its shareholders in increasing their personal holdings of common stock. Global will also seek to enforce the non-dilutive clause in its financing agreement with World Hockey Association.
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posted
Unfortunately I don't know. usually I track that, but I slacked off last night. Crap. Can't find it on Pinksheets.com because the first day or so after a reverse split they have it listed as "No info available for that company"
quote:Originally posted by stocktrader22: what was O/S before the reverse split and after...
posted
Just sent the company an e-mail. I'll report if I find anything out.
Unfortunately, real work is now demanding my attention, so for the next hours or so (hopefully less) I won't be able to post anything (unless I find somethign earth shattering).
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posted
Still busy with work but jusy wanted to share this e-mail response. I forget what I had asked since it was an online form, but I said somethign like "Do you have any insight as to why the PPS price dropped so much today?":
"Thanks for your questions and we are looking into these matters right now. How did you hear about Global? Did you own stock prior to the rollback? If so how many shares? We would like to address these matters if possible and see if we can help you out further."
I wrote back again and will let you know if I hear anything.
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posted
Oh, and good job Jenna. Did you happen to leave a message for someone to return your call? If not, I'll try to call this afternoon if I get some time. Hopefully I'll get another e-mail back soon though with some more info.
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posted
Ok, I just got another e-mail back from the company saying that the O/S is 50million.
I asked for clarification, because I thikn he'd have to have meant that the O/S WAS 50million as of yesterday, and thus 200,000 as of today.
50million today would mean 12.5 Billion O/S yesterday, which would be a market cap of $11.5BILLION as of yesterday.
I'm pretty sure the O/S should now be 200,000, but I'll let you know if I get confirmation.
Anyway, assuming the O/S is 200,000, that means that 15% of the O/S has traded today, which is pretty high considering the average volume traded efore today was .03% of the float.
posted
I'm surprised no one else is commenting on this one.
30,000 shares traded today is the equivalent of 7.5million shares yesterday. 7.5 million shares at $0.92 is almost $7million.
So either the company is dumping shares, (which according to the e-mail from IR they are not, but of course take that with a grain of salt...) someone sold what was $7million worth of stock yesterday for around $60,000 today, or someone sold pre-split shares into a post-split share structure.
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posted
Just got out of what seemed like an endless meeting. Nothing from them in an e-mail, so i sent a follow up. Hopefully I'll hear something back soon, although I guess it doesn't matter between soon and market open tomorrow.
I saw that a few pretty good IHubbers have bought a few shares "just in case", and they seem to agree that thre's most likely some kind of screw up going on.
Will post more if I find anythign out, but at this point it seems like it's most likely a R/S screw up to some degree, although I can't verify it yet.
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posted
Well, I just got home from work a little while ago and still haven't gotten an e-mail reply from the company.
Today was too damn busy at work to make any phone calls (as evidenced by the fact that I didn't leave the office util after 9.)
And to make matters worse, I have a procedure at the hospital tomorrow from 9-11, so I won't even have computer access until like 11:30 tomorrow morning. I know I'll be sitting at the hospital on my cell phone to a buddy at work "What's GDVM at now?" "What about now?" every 5 minutes
So what's your take Tex, given the limited info? R/S screw-up, company or shareholder dumping shares at a 99%+ loss, or some other scenario that I hadn't though of?
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posted
well, what bothers me with this stock is that before the reverse split the volume was like 25-100 shares per day. Thats not Kosher RAbi Tex!
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posted
Here's my question - I know nothing about this stock just yet, but if it should have opened at a much higher amount, I would think anything in the $1-$2 range would be a bargain....?
-------------------- Study before you buy, Sell before you think about it....
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Posted by: Mike2112 In reply to: None Date:1/11/2007 10:44:11 AM Post #of 18
This is how I see it....
OS is now around 39k as last 10Q filing had OS at 9.9M (250-1 spilt) was trading at $1 prior to split and NITE sold 33k yesterday at $1.30-$2.75 yesterday before realizing his error now at 2.25 x 11. Current Market cap is 100k which is laughable......this is multi-multi bagger as market cap was about $10m pre split..LOL..remember AWYB and GLKC and PAIV..well NEXT imo!!!!
-------------------- ..just remember....Family is EVERYTHING!!
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************************************************** Posted by: Buckey In reply to: Mike2112 who wrote msg# 17 Date:1/11/2007 10:50:40 AM Post #of 18
one caution is website ways 40 Million o/s before split - dont know how you go from 10 MM to 40MM in that short a time.
NOTE they did updatetheir website today to show new symbol. SO they are alive - just not awake yet I guess - They are on west coast. Maybe reality will sink in when insiders check the value of their accounts.
why the 250 for 1 R/s is what I dont get
-------------------- ..just remember....Family is EVERYTHING!!
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posted
OH Snap! I forgot I had a buy order in for another 400 at 2.75 & it just went through all but 1 (weird) 399 filled....I sure hope this is the real deal!!!
-------------------- ..just remember....Family is EVERYTHING!!
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