Buying TRINC at .30. Wish I woulda found it sooner at .25, but still playing this one at this level.
Posted by kcbudman on :
Any comments on this? I see this as good. Am I wrong? Lots of volume today. Bid higher than ask for some odd reason for a good part of the day (fliping back and forth). Or, Scottrade error. But any input on this is appreciated. Felt rambunctious this morning. Either this or UALAQ, chose this, shoulda taken UAL.
Art, how are you? So quiet, no daily picks, etc.....
Trinsic Regains Limited Compliance
TAMPA, Fla., Sep 14, 2005 (BUSINESS WIRE) -- Trinsic, Inc. (NASDAQ/SC: TRIN), parent company of Trinsic Communications, Inc., a leading provider of traditional and IP telephony services, announced today that it has received notice from The Nasdaq Stock Market Inc. that it has regained compliance with Marketplace Rule 4351 (dealing with voting rights) and Marketplace Rule 4310(c)(17) (dealing with submission of a Listing of Additional Shares Notification Form). The deficiencies, announced by the Company on August 31, 2005, resulted from its issuance of Series H Convertible Preferred Stock. According to the Company it corrected the deficiencies by entering into a voting agreement with respect to its Series H Convertible Preferred Stock, making certain commitments to The Nasdaq Stock Market with respect to future proxy solicitations and by filing the required Listing of Additional Shares Notification Form. Trinsic's common stock continues to be listed on The Nasdaq SmallCap Market via a temporary exception from Nasdaq's shareholders' equity/$35 million market value of listed securities/net income and minimum bid price requirements subject to certain previously announced conditions. About Trinsic
Trinsic offers consumers and businesses traditional and IP telephony services. Trinsic's products include proprietary services such as Web-accessible, voice-activated calling and messaging features that are designed to meet customers' communications needs intelligently and intuitively. Trinsic is a member of the Cisco Powered Network Program and makes its services available on a wholesale basis to other communications and utility companies, including Sprint. Trinsic, Inc. changed its name from Z-Tel Technologies, Inc. on January 3, 2005. For more information about Trinsic and its innovative services, please visit www.trinsic.com.
SOURCE: Trinsic, Inc.
Posted by kcbudman on :
TRINC ran to .42 yesterday from a day low of .23. Closed at .32. Should be a morning gapper, eyeing .60......
Posted by DENSKIJR on :
Hey KC,
what do you think of a .25 entry price its looking good right now??? your oppion is greatly appreciated
Posted by kcbudman on :
Well, after nearly throwing up on myself for not selling yesterday, (waiting for .60), I hate myself for not DD'ing enough. R/S today, 10/1 at market close.
Greedy.
But, I am now trying to figure if this is going to be a bad R/S or not. Sometimes, rarely though, they work fine. This isn't a scam penny R/S, but if I were looking at getting in, I would study it this weekend, and re-evaluate monday for market reaction. It dropped today to the .22 support level, and surprisingly didn't go below. And there were numerous buys, big block. I hope it survives the R/S.
GL.
Posted by DENSKIJR on :
Thanks KC,
I was very tempted at .24 and then I thought Im going to wait till monday oh baby sure glad I did. Will keep it on watch though thanks again for taking the time. good luck to ya Dennis
Posted by kcbudman on :
Then again Dennis, look at GOAM R/S, the stock was goamerica. The R/S actually caused it to run, and was one of AMEX's best performing stocks last year. Went from a couple bucks to near 20 if I remember. It was like 1000% increase after r/s.
That doesn't mean this is GOAM though. R/S has sucked everytime for me. Hope this time is different. Good luck to you, and watch it. I have about $2750 in this one, and I may use it for learning..................I did this with sub-penny's and learned "don't do it again", but heck, this ain't a sub-penny....yet....see ya.
Posted by kcbudman on :
The R/S is to get the share price above $1, not to raise money by dillution follow-up. Nasdaq required them to get the SP over $1.
The float will now be 2 million. If they don't dillute, this could really fly.
GL.
Posted by FlipMe on :
I'm interested to see what TRINC does this week following the R/S. I'll be keeping a close eye here.
Posted by DENSKIJR on :
Ya good point KC,
I'll be watching this week on the ticker hopefully for you that it bottoms out and goes up
Posted by kcbudman on :
Well, I would rather be in your shoes, and watching rather than vested.....
I have seen stocks like this fly. Never been in one. I have stocks like this sink. Been in those. Lets see.
Thanks for the good luck wishes.
I don't know if you read other message boards or not but yahoooo has one:
I don't know who the pumpers are versus the bashers are though. One guy posted the GOAM stuff though.....he is either an investor or pumper.
Find out tomorrow!!!!
Posted by FlipMe on :
GL kc.
Posted by DENSKIJR on :
Is it halted or what there have been no trades today??????
Posted by DENSKIJR on :
sorry about that i was looking under the old symbol.
Posted by kcbudman on :
I left after 2 hours of opening bell watching. The volume was crazy. There would be 5 minutes of nothing, then 5000 shares, on 100 share increments would post at once, filling an entire T&S screen, at either the bid or the ask. I just got home, and well, I still don't know. It basically went from a presplit price of .22 to .18. Something about a coversion price of .41 coming up, which will be $4.10 now..supposed to happen on friday...I will hold and see. What the heck, its only money.
Take care, Budman.
Posted by DENSKIJR on :
Well budman I just read the entire other message board and I think Im more confused now than I was before I hate reading the leagleize it confuses me more. One thing I know is someone is right Ha! Im just not sure if I should jump in or not. It seems pretty safe at these leves since the shares are going to be converted at .41 .39 or .20 and right now the price is .175 pre r/s but Im not sure. what is your take?
Hoping for the best
Dennis
Posted by kcbudman on :
Worked all day. Just got home, nothing exciting.
My take? I don't know either. The legalese is confusing. It would appear to be safe to get in now, as it SHOULD go up at lest 20% from here, but who knows. My scottrade account wouldn't even let me put a sell order in this morning (for $4.00) it didn't recognize the symbol, so today was another wasted trade day IMO as retail didn't have access to it, as of this morning. The conversion should be at least 2.00, but who knows. R/S usually crap out. If I sell, I guarentee this will run to $5.00.....
Posted by DENSKIJR on :
Decided to pass on this one Good Luck to ya though I hope it works out forya
Dennis
Posted by kcbudman on :
Wise decision I think. Trade ya places!!!!!
Posted by kcbudman on :
Copied from another board. Not my DD, but I hope he/she is right!
Tomorrow will be the reversal day......
No matter what the conversion price is......We are underpriced here. Even if the price is 20 cents on pre-split basis, we should be well over $2.00. If the price is 39 cents, we will shoot well over $4.00 instantly.....
We have BBH, the largest shareholder, whose position is the same thing as ours.....
Paradoxically enough, this baby is the safest play in the market.....
JMVHO.
Cheers !!!!!!!
Posted by kcbudman on :
Trinsic to Convert Preferred Stock to Common Thursday September 29, 4:00 pm ET
TAMPA, Fla.--(BUSINESS WIRE)--Sept. 29, 2005--Trinsic, Inc., (NASDAQ/SC: TRNCD), a leading provider of both traditional and IP telephony services, announced today that on September 30, 2005, all of the outstanding shares of its Series H Convertible Preferred Stock, having a liquidation preference of approximately $24 million, will convert into common stock at conversion price of $2.00 per share. The Series H Preferred Stock is held entirely by The 1818 Fund III, L.P., an investment fund managed by Brown Brothers Harriman and Co. and Trinsic's largest shareholder. The terms of the Series H Preferred Stock provide that the stock is mandatorily convertible into common stock upon the later to occur of (a) September 30, 2005, or (b) the approval of the transaction by Trinsic's shareholders. The transaction was approved by Trinsic's shareholders on September 23, 2005. The terms further provide that liquidation preference of the Series H Preferred Stock will convert into shares of Trinsic's common stock at a conversion price equal to $3.90 per share (post reverse split); provided, however, that if on or prior to September 29, 2005, Trinsic shall not have entered into a definitive agreement to acquire no less than 150,000 UNE-P subscriber lines (tested as of September 29, 2005), then the conversion price shall reduce to $2.00 per share (post reverse split). Although, Trinsic recently announced a letter of intent to acquire up to 181,000 lines from Sprint, a definitive agreement was not executed before the deadline. According to the Company, negotiations to acquire those lines are continuing and, moreover, the Company is exploring other opportunities to acquire lines and to otherwise realign its current subscriber base consistent with its strategy of focusing on certain territories. Trinsic effected a 1 for 10 reverse stock split on September 26, 2005.