posted
Took a huge dive today. Might be an awesome day trade.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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posted
Press Release Source: Millstream II Acquisition Corporation
Millstream II Acquisition Corporation Announces Delaware Court Refuses to Enjoin the Special Meeting of Stockholders Scheduled for December 21, 2006 Wednesday December 20, 1:41 pm ET
WAYNE, Pa., Dec. 20 /PRNewswire-FirstCall/ -- Millstream II Acquisition Corporation (OTC Bulletin Board: MSMA - News, MSMAW - News, MSMAU - News; "Millstream II"), a special purpose acquisition company, announced today that the Court of Chancery of the State of Delaware in and for New Castle County denied a motion seeking to enjoin Millstream II from holding the special meeting of stockholders currently scheduled for Thursday, December 21, 2006, at 10:00 a.m. As a result of the Court's ruling, the special meeting will be held as scheduled. This special meeting has been called for the purpose of considering the approval of Millstream II's agreement to acquire Specialty Surfaces International, Inc., d/b/a Sprinturf. ADVERTISEMENT
ABOUT MILLSTREAM II
Millstream II, based in Wayne, Pennsylvania, was incorporated in September 2004 to acquire an operating business in North America. Millstream II's initial public offering became effective December 17, 2004 and was consummated on December 23, 2004. In its initial public offering Millstream II received net proceeds of $27.6 million through the sale of 4.6 million units at $6.00 per unit. Each unit was comprised of one share of Millstream II common stock and two warrants, each with an exercise price of $5.00 per share. As of September 30, 2006, Millstream II held approximately $25.0 million in a trust account maintained by an independent trustee, which will be released upon the consummation of a business combination.
The audited and unaudited financial statements of Millstream II can be found on the Securities and Exchange Commission Web site (http://www.sec.gov) within Millstream II's 10-KSB and 10-QSB filings for the relevant periods.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about Millstream II. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of Millstream II's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: general economic and business conditions in the U.S. and abroad; the outcome of pending litigation; inquiries and investigations and related litigation; as well as other relevant risks detailed in Millstream II's filings with the Securities and Exchange Commission, including its report on Form 10-QSB for the period ended September 30, 2006. The information set forth herein should be read in light of such risks. Neither Millstream II nor Sprinturf assumes any obligation to update the information contained in this press release.
ADDITIONAL INFORMATION
Millstream II stockholders are urged to read the proxy statement regarding its special meeting of stockholders because it will contain important information. Copies of filings by Millstream II, which will contain information about Millstream II and Sprinturf, will be available without charge, when filed, at the Securities and Exchange Commission's Internet site (http://www.sec.gov), and when filed will be available from Millstream, without charge, by directing a request to Millstream II Acquisition Corporation, 435 Devon Park Drive, Building 400, Wayne, PA 19087.
-------------------------------------------------------------------------------- Source: Millstream II Acquisition Corporation
Posts: 157 | From: pa, usa | Registered: Oct 2006
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posted
I'm looking for an entry myself. I looking to get in once the bid is above 0.04. I want to make sure it break that small resistance from 20 minutes ago.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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posted
That meeting is currently ongoing or just completed. Could be some big news here soon
Posts: 157 | From: pa, usa | Registered: Oct 2006
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Some guy owns 100 shares of Millstream, and does not want Millstream to acquire Spinturf, because he is a VP in Spinturfs competitor. He filed the complaint. I guess he is trying to elliminate the conpetition.
IMO the selloff was because no one did further DD than what you posted.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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posted
Here is a cut and paste: 8-k filing on the 19th
The plaintiff, David Moskowski, states that he is the holder of 100 shares of Millstream II common stock. The plaintiff identifies himself as a senior vice president of Fieldturf Tarkett, Inc., a competitor of Sprinturf. The plaintiff alleges that Millstream II failed to give proper notice of the special meeting as required by the Delaware General Corporation Law. The plaintiff's action requests that a temporary injunction be granted to prevent the special meeting from being held and that an order be granted requiring Millstream II to proceed with a plan of liquidation and dissolution. The Court has scheduled a telephonic Temporary Restraining Order hearing for 10:00 a.m., Wednesday, December 20, 2006.
I think people just read that someone is sueing Millstream, but they did not can to read and understand why.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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posted
I read it as 2 companies compete for business: A & B. Company C want to aquire A, but the VP for company B owns a few measley shares of C and is trying to stop C from aquiring A.
IMO, this is good for C since the court sided with C (Millstream) to allow the special meeting for the acquisition.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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posted
It looks like the filing (from the guy complaining) was known on the 18th. Since the PPS dropped from the mid 30s to the low 20s. I think a lot of selling occured since no one really understood what was going on, and if the guy had a leg to stand on.
IMO, since the court sided with Millstream, it is very good news. I think A PR after the meeting announcing the acquisition would move this.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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posted
I'm doing more DD. Here is some info on the company Millstream want to acquire:
ABOUT SPRINTURF
Sprinturf is a developer, marketer and installer of synthetic turf systems for athletic fields and other related products for residential and commercial landscaping applications. Sprinturf was founded in 1999 and is based in Wayne, Pennsylvania. Sprinturf believes that its patented essentially all-rubber infill synthetic turf system is comparable to a natural grass playing field in pristine condition. Sprinturf sells and installs its Ultrablade(TM) synthetic turf systems on high school, college and professional sports athletic fields, privately owned athletic fields and other municipal and government properties including playgrounds and military bases. Sprinturf's customers include the Philadelphia Eagles; Major League Soccer team D.C. United; NCAA Division I universities including The Ohio State University, UCLA, Utah State University, Auburn University and the University of Pennsylvania; and over 150 high school fields across the country.
Sprinturf also develops and sells synthetic turf and related synthetic products to the residential and commercial landscaping markets. Examples of applications for these products include residential lawns, playgrounds, office parks, median strips and airport groundcover.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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quote:Originally posted by stocktrader22: Arca wants to take it to .05
I just noticed that. I wonder how long the meeting will tkae place, and even more curious how long until a PR come out.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
| IP: Logged |
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
| IP: Logged |
posted
Press Release Source: Millstream II Acquisition Corporation
Millstream II Acquisition Corporation Announces Results of the Special Meeting of Stockholders on December 21, 2006 Thursday December 21, 12:28 pm ET
WAYNE, Pa., Dec. 21 /PRNewswire-FirstCall/ -- Millstream II Acquisition Corporation (OTC Bulletin Board: MSMA - News, MSMAW - News, MSMAU - News; "Millstream II"), a special purpose acquisition company, announced today the holders of a majority of the common stock of Millstream II entitled to vote at the special meeting of stockholders held today voted against each of the four proposals, including the proposal to consummate a business combination, as presented in the Millstream II proxy statement dated December 8, 2006. ADVERTISEMENT
ABOUT MILLSTREAM II Millstream II, based in Wayne, Pennsylvania, was incorporated in September 2004 to acquire an operating business in North America. Millstream II's initial public offering became effective December 17, 2004 and was consummated on December 23, 2004. In its initial public offering Millstream II received net proceeds of $27.6 million through the sale of 4.6 million units at $6.00 per unit. Each unit was comprised of one share of Millstream II common stock and two warrants, each with an exercise price of $5.00 per share. As of September 30, 2006, Millstream II held approximately $25.0 million in a trust account maintained by an independent trustee.
The audited and unaudited financial statements of Millstream II can be found on the Securities and Exchange Commission Web site (http://www.sec.gov) within Millstream II's 10-KSB and 10-QSB filings for the relevant periods.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about Millstream II. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of Millstream II's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: general economic and business conditions in the U.S. and abroad; inquiries and investigations and related litigation; as well as other relevant risks detailed in Millstream II's filings with the Securities and Exchange Commission, including its report on Form 10-QSB for the period ended September 30, 2006. The information set forth herein should be read in light of such risks. Millstream II does not assume any obligation to update the information contained in this press release.
-------------------------------------------------------------------------------- Source: Millstream II Acquisition Corporation
Posts: 157 | From: pa, usa | Registered: Oct 2006
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