Took a huge dive today. Might be an awesome day trade.
Posted by iwannna on :
this one is on my watch list now thanx
Posted by iwannna on :
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
Posted by Squire38 on :
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.
Posted by iwannna on :
That meeting is currently ongoing or just completed. Could be some big news here soon
Posted by Squire38 on :
iwanna, read that.
Did you hear why, lol.
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.
Posted by stocktrader22 on :
Where do you see that some guy owns 100 shares and is trying to block the acquisiton?
Posted by Squire38 on :
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.
Posted by iwannna on :
I didn't know what to make of that news. it sounded like it could be bad or good news. just keeping my eye on it for now.
Thanx for the DD
Posted by Squire38 on :
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.
Posted by Squire38 on :
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.
Posted by stocktrader22 on :
Yup..I may enter
Posted by iwannna on :
sure would be nice to see it go back up even to half of what it was 5 days ago
Posted by Squire38 on :
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.
ARCA was moving it...now backed down
Posted by BENJAMINS on :
alright I'm in at 0.035 , seems like this one is ready for a run. spread is thin.
Posted by stocktrader22 on :
arca controls it...looking for a lower entry
Posted by BENJAMINS on :
This thing may not go lower than 0.03 stock trader. seems to be getting support at this level. I'm watching every positions to add more.
Posted by stocktrader22 on :
you may be right..watching closely.
Posted by BENJAMINS on :
already over 2Million shares traded. This may be an easy 100% bounce back IMO.
Posted by stocktrader22 on :
Arca wants to take it to .05
Posted by Squire38 on :
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.
Posted by Squire38 on :
ARCA is now at .165!
Posted by IMAKEMONEY on :
THIS RIGHT DOWN 77% TODAY?
Posted by IMAKEMONEY on :
DOWN 83% THE TEST IS WHAT WILL ARCA DO ON THE BID!
Posted by IMAKEMONEY on :
ARCA LEFT CRASH! DOWN 92% Posted by Squire38 on :
Wow, not what I expected.
Posted by IMAKEMONEY on :
GOD YOU WOULD THINK THIS HAS TO GO UP FROM HERE!
Posted by iwannna on :
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
Posted by stocktrader22 on :
Wow...didn't get in yet..might soon here.
Posted by IMAKEMONEY on :
MIGHT GO SUB PENNY!
Posted by stocktrader22 on :
YUP...still watching!
Posted by IMAKEMONEY on :
HERE WE GO!!!!!!!!
Posted by iwannna on :
I am in at .01
Posted by IMAKEMONEY on :
IM IN THIS FOR 50,000 SHARES AT .01
Posted by retiredat49 on :
I got in at .01 but would only give me a partial fill
Posted by IMAKEMONEY on :
I SET MY SELL AT .0225
Posted by iwannna on :
where will it go from here?
Posted by iwannna on :
if it goes to .01 i will add more
Posted by iwannna on :
i think everyone cut and run!
Posted by retiredat49 on :
Still holding mine...this just doesn't add up
Posted by iwannna on :
sold half and riding free shares just to see what happens
Posted by stocktrader2006 on :
TO DA MOON!
Posted by retiredat49 on :
I can see this going back up to the .06 - .07 range today
Posted by iwannna on :
would be nice..... realy nice
Posted by IMAKEMONEY on :
CHIT JUST GOT BACK, THAT WAS AN EASY $500.00 BUCKS, LOL HEY MY SELL WENT THREW AT .025? Posted by Squire38 on :
I sold a 1/3 of my shares in the low 3s. Riding free now. Good luck guys, this should move awesome once it gets over 4 cents.
Posted by IMAKEMONEY on :
IF IT GOS BACK TO .01 IM GOING IN AGIAN! Posted by IMAKEMONEY on :
GO DOWN!!!!!!!!
Posted by stocktrader2006 on :
Anyone still in this?
I am surprised that it hasn't rebounded to at least .06 by now.
Posted by iwannna on :
Still holding free shares. looks like it has leveled off around .02 with lower volume and nearly all sales. Supprised its holding at .02
Posted by Squire38 on :
quote:Originally posted by stocktrader2006: Anyone still in this?
I am surprised that it hasn't rebounded to at least .06 by now.
I have 2/3 of my original shares left. Holding them for 10 cents since they are free.
Posted by iwannna on :
All we need is one big buy
Posted by iwannna on :
eod run, yes
Posted by Spurgus on :
Bid .031 ask .032
Posted by stocktrader22 on :
moving now
Posted by Homersbud on :
What a joke! I saw this yesterday at 01...Had my buy order in but couldn't pull the trigger! Now look at it...geez!
Congrates to everyone playing. Nice early Xmas gift especially if you got in yesterday around 01.
032x035 2x4
Posted by stocktrader22 on :
I think in time this bounces up...super low float and too many shares being traded, it isnt adding up. Plus 25million cash on the side for an acquisiton. No doubt they will acquire something else in the next 6 months in my opinion. This may be a huge winner in the future
Posted by stocktrader22 on :
Level II's lined up to break .035 this time...way undervalued here
Posted by stocktrader22 on :
here we goo..
Posted by JimSC on :
Will be back up to 0.1 by the end of the year. Stocks that drop more than 60% in a week deserve your attention. This stock dropped 90% in 3 days.
Posted by a surfer on :
boom there it goes 035x038
Posted by iwannna on :
This is way better than a sharp stick in the eye Posted by JimSC on :
Last run it's up 40% a day for 4 days. It will be a great gift for yourself during the Holidays.
Posted by retiredat49 on :
That is exactly my reasons for holding it all on this one...got in yesterday at .01 because of the drastic drop in pps and I couldn't find any good reason for it. The 25 mil in cash was the clincher for me...still, something doesn't add up here...this could get interesting.
quote:Originally posted by stocktrader22: I think in time this bounces up...super low float and too many shares being traded, it isnt adding up. Plus 25million cash on the side for an acquisiton. No doubt they will acquire something else in the next 6 months in my opinion. This may be a huge winner in the future
Posted by stocktrader22 on :
Daytraders taking profit EOD...I think we bounce more on monday
Posted by stocktrader22 on :
Read their filings..specifically the 10Q
They are very serious about making a business acquisition and that is actually the reason they IPO'd at $6.00 share. They raised 23million which they put in an investment trust and will use this for a merger. There is only 5,600,000 shares in the float. This is so undervalued at .03 it is not even funny.
Posted by stocktrader22 on :
the chart is starting to shape up here. I think we see a very big bounce next week, especially with any updates from the company. RSI is still oversold and very low.
From what I see, the movement today was justified by the on balance volume indicator and accumulation line started to peak up as well. The stock closed with a bullish white candle, and selling pressure based on CMF is starting to fade. Also stochastic is peaking up and may cross, which would be a bullish signal.
Posted by stocktrader22 on :
Look at the movement last time when stochastics was below 20 and crossed...looks like it went from .15 to .35
I expect .07+ short term here.
Posted by Firedog on :
Looks good to me Stocktrader22. I have a buy in for Tuesday. Hope it gets filled. Posted by stocktrader22 on :
I'm surprised no one else has picked up on this yet.
Posted by stocktrader22 on :
did you see all the buying on Friday before a few EOD (daytraders on friday) sells. Watch people load up this week! This is only a 5million float...check out the volume the past 2 days, float was already flipped!!!!
Posted by Squire38 on :
quote:Originally posted by Squire38:
quote:Originally posted by stocktrader2006: Anyone still in this?
I am surprised that it hasn't rebounded to at least .06 by now.
I have 2/3 of my original shares left. Holding them for 10 cents since they are free.
Hell, I went ahead and bought more. Looks too good to have just free shares.
Posted by stocktrader22 on :
Do 25million divided by outstanding shares...now see why im so excited with it being down at these levels Posted by stocktrader22 on :
This may churn until an EOD hard pop like friday. definitely has good support
Posted by stocktrader22 on :
Level II is setting up very nicely.
Posted by SuperSniper00 on :
where do you guys see this going?
Posted by PCola77 on :
Do you guys all know what MSMAW is?
Posted by stocktrader22 on :
quote:Originally posted by PCola77: Do you guys all know what MSMAW is?
Read the thread.
Posted by PCola77 on :
I've read the thread. I think the problems is that you guys don't understand something very important.
Posted by stocktrader22 on :
Put it out there PCola77...you love to come in and beat up my plays that make everyone else some money. Let's hear it.
Posted by PCola77 on :
When have I ever beaten up any of your plays? I've played a bunch of yours.
Anyway, unless I missed something, it doesn't seem like you guys realize that the "W" at the end means WARRANT. You are buying a warrant to buy the stock of the company, which trades as MSMA. MSMA is the one that has the cash, financials, etc. and it is trading at $5.36.
With the voting down of the proposed acquisition, the warrants became essentially worthless. The buying pressure is from people playing a bounce, and artificially creating demand for something that has no worth.
Now, I may be wrong, and i'm not saying you can't/couldn't have made money, but whatever you do, I wouldn't hold it overnight, in case the warrants expire soon, in which case they will be worth literally $0, and they will just disappear from your account.
Posted by stocktrader22 on :
quote:Originally posted by PCola77: When have I ever beaten up any of your plays? I've played a bunch of yours.
Anyway, unless I missed something, it doesn't seem like you guys realize that the "W" at the end means WARRANT. You are buying a warrant to buy the stock of the company, which trades as MSMA. MSMA is the one that has the cash, financials, etc. and it is trading at $5.36.
With the voting down of the proposed acquisition, the warrants became essentially worthless. The buying pressure is from people playing a bounce, and artificially creating demand for something that has no worth.
Now, I may be wrong, and i'm not saying you can't/couldn't have made money, but whatever you do, I wouldn't hold it overnight, in case the warrants expire soon, in which case they will be worth literally $0, and they will just disappear from your account.
Wow good point. I didn't even realize this. I'm not too knowledgable with warrants, so I don't know what they are worth. All I know is this has some good MOMO, but I now say dont stay overnight guys.
Posted by SuperSniper00 on :
i got this baby started at .033 with 70K shares and sold at .04, that was a nice $400!
haha
Posted by stocktrader22 on :
Thanks for the heads up...I was playing it based on chart and MOMO from Friday. It has gone up considerably since close at friday .03
so I believe I gave a good pick to all here...just dont hold overnight now based on PCcola's finding.
Posted by stocktrader22 on :
heads up.. The warrants don't expire until Dec 8, 2008.
Posted by PCola77 on :
Told ya so
And yes, like i said, you could make money on it, and you and a lot of others obviously had, but unless you've sold it's only on paper. I've played a similar play in the past when a "stock" went down like 95% so I bought to play the bounce. Apparently a lot of others did too, as it closed the day up over 300% from when I bought. I was psyched until the next morning when it was gone from my account. I called my broker and he said it was a warrant that expired the previous day. I had lost 100% of my investment, and really, 400% of my original investment since I had mentally counted the previous day's big gains. The peopel who understood that the warrants were expriing sold for whatever they could get, accounting for the 95% drop. Then idiots like me gladly bought from them, and lost all of what we paid for them.
And honestly, have I really ever bashed one of your plays or were you thinking of someone else?
Posted by JimSC on :
This is a pure manipution of the MMs. They took advantage of a string of bad news and took down the value by 90% to collect shares at bottom. This company will find other axquistions in a few weeks, the MMs will then push up the pps back to previous value to unload their inventory. All otc stocks are for gamble only, and MSMAW is a good gamble because the MMs are playing on it. There are only about 5 M units of MSMAW. Any MM can easily manipulate it.
Posted by PCola77 on :
Well, tht definitely helps one of my concerns, but still unless you understand the warrants, just play this as a momentum play. In other words, don't quote financials or anything, because it only applies to the company, not the warrants.
quote:Originally posted by stocktrader22: heads up.. The warrants don't expire until Dec 8, 2008.
Posted by BooDog on :
hell of a hard lesson to learn PCola77. Thanks for sharing!
Posted by stocktrader22 on :
Regardless... squire made the original find...thanks buddy!!! I called at .03 over this weekend letting everyone know based on T/A and the drop this is going up, and its at .044
Another big winner!
Posted by PCola77 on :
You may be right, but I doubt many (any?) of the people here are planning to hold for a few weeks.
quote:Originally posted by JimSC: This is a pure manipution of the MMs. They took advantage of a string of bad news and took down the value by 90% to collect shares at bottom. This company will find other axquistions in a fes weeks, the MMs will then push up the pps back to previous value to unload their inventory. All otc stocks are for gamble only, and MSMAW is a good gamble because the MMs are playing on it. There are only about 5 M units of MSMAW. Any MM can easily manipulate it.
Posted by iwannna on :
Thanks pCola for the heads up and saving me some green, made 400%, Thanks for the pick Squire38. IMO .04 is a good exit point
Posted by PCola77 on :
Again, not trying to scare anyone into selling, decide on your own, but just wanted to let everyone know from my own (bad) experience. Congrats to any of you that profited.
Posted by JimSC on :
One of the MMs got paid 32 K$ plus 600 K units of MSMAW for issuing the Warrants. I believe this MM will try to cash in sooner or later. Based on the bad news from the company, I believe there is good chance that MSMAW will have a big bounce when the company releases some positive PRs in January.
Posted by SuperSniper00 on :
thanks cola...once you posted that i sold out and made $400...w00t!
Posted by PCola77 on :
if it goes up even more will you be cursing me?
quote:Originally posted by SuperSniper00: thanks cola...once you posted that i sold out and made $400...w00t!
Posted by PCola77 on :
By the way st22, where did you find the date of expiration for the warrant?
Posted by SuperSniper00 on :
hahha, nahhhhh, ive been burned bad by hanging on too long. ive been making some serious cash lately by selling when i make some loot.
Posted by JimSC on :
This is a pure gamble - so get your capital out if you don't feel comfortable. My gamble is based on a string of bad news by the ceo. This indicated that they wanted to bring the pps down to collect the shares at the bottom.
Posted by PCola77 on :
Who wanted to collect shares at the bottom? MMs or the CEO?
Posted by PCola77 on :
Wow, just saw that the company is in Wayne, PA. That's where I work as well, their office is like 3 miles from me. I think I even know someone that works in their building or near it.
Small world.
Posted by JimSC on :
quote:Originally posted by PCola77: Who wanted to collect shares at the bottom? MMs or the CEO?
The ceo is doing the MM a favor now. He will profit also since he owns some stocks and warrants. They know how to help each other and manipulate the pps.
Posted by PCola77 on :
Interesting conspiracy theory.
Posted by BidandAskMan on :
quote:Originally posted by PCola77: By the way st22, where did you find the date of expiration for the warrant?
quote:Originally posted by PCola77: Interesting conspiracy theory.
It takes 6 weeks for the MMs to complete the game. Just watch it.
Posted by Squire38 on :
I bought back in on Friday. Here is the definition of a warrant and why I plan on holding for awile. Current PPS on MSMA is $5.35 or so. The warrants allow you to buy the common stock at $5.00, difference of $0.35 per share.
MSMA raised money to acquire a company. Since ST22 found the warrants don't expire until 2008, then anyone is safe until then. If/When MSMA does acquire a company it is safe to assume the common stock PPS will rise. If the common stock rises, then the warrants should follow since they allow the onwer to purchase common stock at $5.00.
So assume MSMA PPS is $6.00 a little $0.04 MSMAW share will get you $0.96 profit. To me thats a good gamble. I might have to fork over $5.00 per shares, but if it is worth over $5.04, then its money in the bank.
Also the drop in PPS on the 18th and 19th was pure MM manipulation. I'll agree with JimSC and take the gamble.
Here is a cut and paste from the filings. Each Warrant entitles the holder to purchase from the Company one share of common stock at an exercise price of $5.00 commencing the later of the completion of a Business Combination with a target business or December 17, 2005 and expiring December 16, 2008. Posted by PCola77 on :
Good info there squire.
Do you know offhand if there is any cost associated with excercising the warrants?
Like a fee from a broker, or TA, or the company itself?
Also, if you're planning to do that, make sure you don't have like 50,000 shares at .03 unless you have $250,000 to buy 50,000 shares at $5.
Take care.
quote:Originally posted by Squire38: I bought back in on Friday. Here is the definition of a warrant and why I plan on holding for awile. Current PPS on MSMA is $5.35 or so. The warrants allow you to buy the common stock at $5.00, difference of $0.35 per share.
MSMA raised money to acquire a company. Since ST22 found the warrants don't expire until 2008, then anyone is safe until then. If/When MSMA does acquire a company it is safe to assume the common stock PPS will rise. If the common stock rises, then the warrants should follow since they allow the onwer to purchase common stock at $5.00.
So assume MSMA PPS is $6.00 a little $0.04 MSMAW share will get you $0.96 profit. To me thats a good gamble. I might have to fork over $5.00 per shares, but if it is worth over $5.04, then its money in the bank.
Also the drop in PPS on the 18th and 19th was pure MM manipulation. I'll agree with JimSC and take the gamble.
Here is a cut and paste from the filings. Each Warrant entitles the holder to purchase from the Company one share of common stock at an exercise price of $5.00 commencing the later of the completion of a Business Combination with a target business or December 17, 2005 and expiring December 16, 2008.
Posted by Squire38 on :
To better shed light.
The majority of the common stock holders voted down acquiring the Turf company. Notice that the common stock did not drop, but rather rose. Safe to assume that the shareholders aren't worried and did not sell their shares.
On the other hand the warrants started dropping days before when someone with a measley 100 shares threatened to sue. The warrants further dropped when news of no acqusistion came out. Who benefits from this? I would be scared if the common stock dropped on the news. I must assume that someone needed to purchase the warrants. To me thats good business sense. Buy warrants at rock bottom prices. Here is an example:
For example, a company emerging from bankruptcy with its new stock value at $10 per share may issue five-year warrants with an exercise price of $30 per share. There is nothing to be gained by the holders exercising these warrants and buying the stock for $30 per share when they can buy it on the market for $10. But if the stock price happens to reach $40 per share before the five years is out, it would make sense to exercise the warrants at $30 per share and then sell the stocks on the market for $40, if desired. If the stock doesn’t make it past $30 a share in five years, the warrants expire worthless. Can one sell the warrants rather than exercise them? Yes. The higher the stock and the further away the expiration date, the higher the warrant price. In our example of five-year warrants with the $30 exercise price, the warrants may be worth $10 a piece. As the expiration time draws near, the value of the warrants dwindles if the stock price stagnates. But if the stock price increases, the warrants would also get a boost depending on the time left to expiration.
If you look at the 200 DMA it is around $0.67. The common stock is upwards for $5.00 In fact the 52 low for MSMA is $5.15 (I believe). IMO, no reason for the Warrants to drop low.
I hate to sound like a pumper, but I believe this is a very good play.
Posted by Squire38 on :
quote:Originally posted by PCola77: Good info there squire.
Do you know offhand if there is any cost associated with excercising the warrants?
Like a fee from a broker, or TA, or the company itself?
Also, if you're planning to do that, make sure you don't have like 50,000 shares at .03 unless you have $250,000 to buy 50,000 shares at $5.
Take care.
I do not know of any fees or cost involved, unfortunately.
I just plan on selling my shares later, when the company announces an acqusistion, and the warrants become valuable due the rise in common stock PPS.
Posted by PCola77 on :
I see your points completely, and agree that this could be a good mid-term to long-term play. just making sure people understand that, instead of getting in hoping for a quick big gain, and then not wanting to wait it out and selling for a loss.
Posted by JimSC on :
0.037 X 0.038
***********
MM ID Ask Size Time UBSS 0.0380 50 12:49:23 NITE 0.0380 50 13:33:00 HDSN 0.0400 50 10:43:13 ARCA 0.0400 50 12:50:45 SBSH 0.0400 50 13:33:13 ETRD 0.0420 50 11:55:54 HILL 0.0440 50 10:33:35 STEW 0.0500 50 07:34:12 MAXM 0.0500 50 07:41:18 PERT 0.0500 50 12:47:53 DOMS 0.0800 50
Posted by JimSC on :
-- Period -- -- High -- -- Low -- 5-Day 0.1900 on 12/20/06 0.0100 on 12/21/06 20-Day 0.3900 on 12/08/06 0.0100 on 12/21/06 65-Day 0.5300 on 09/28/06 0.0100 on 12/21/06 100-Day 0.7600 on 08/09/06 0.0100 on 12/21/06 260-Day 1.1500 on 01/27/06 0.0100 on 12/21/06 Year to Date 1.1500 on 01/27/06 0.0100 on 12/21/06
Posted by Squire38 on :
quote:Originally posted by PCola77: I see your points completely, and agree that this could be a good mid-term to long-term play. just making sure people understand that, instead of getting in hoping for a quick big gain, and then not wanting to wait it out and selling for a loss.
To be more helpful, I guess I should have ensured everyone realized it was a Warrant (I assumed the 5th character "W" let everyone know, like the 5th character "Q" for Bankruptcy Proceedings).
I hope everyone faired well, I don't think anyone bought above 3 cents. I think everyone bought in the low 1 cent range. Anyway, the warrants don't expire for almost another 2 years, no need to worry about waking up tomorrow. JimSC is here, great sign, IMO. Like he says it can a few days, weeks, or months (like IGAI did).
Posted by PCola77 on :
Yeah, I honestly don't thnk most people knew that. One rule of thumb I have for new traders is never trade 5 character symbols unless you understand what the 5th character means.
quote:Originally posted by Squire38: To be more helpful, I guess I should have ensured everyone realized it was a Warrant (I assumed the 5th character "W" let everyone know, like the 5th character "Q" for Bankruptcy Proceedings).
Posted by jos_tul on :
MMs walking this down now based on L2
Posted by Squire38 on :
quote:Originally posted by jos_tul: MMs walking this down now based on L2
Bastages only partially filled me at 24. Posted by StockRope on :
This one looks like it wants to go today ,very low floater , and uts on small buys , chart set up looks great
Posted by Squire38 on :
A few MMs lined up at 38, but don't know how quick they'll move.
Posted by JimSC on :
This is a big gamble set up by the MMs for the new year. PPS: 0.03
(the fair value of MSMAW) should be (MSMAW at bottom) + (current MSMA) - (MSMA at bottom) In terms of numbers, it should be 0.01 + 5.36 - 5.15 =0.211
So, I believe that in 6 weeks the MMs will take MSMAW to her real value after they have collected enough shares at the bottom. This will be a great Warrant play/game. Don't be scared by by the MMs when they take the pps down, just get more.
Posted by StockRope on :
MSMAW should hit 0.20 easily.
Posted by SuperSniper00 on :
From ihub:
This is news from Dec 21st giving details about what occurred * the special shareholders meeting. MIND YOU the shareholder who shouted for the company to liquidate *causing the mass sell off* was upset that a special meeting was occurring. He cited that he didn’t believe that there was sufficient notice given to him by the other shareholders who wanted to conduct this meeting and wanted it to be stopped via court order which was denied to him.
20-Dec-2006
Other Events, Financial Statements and Exhibits
Item 8.01 Other Events
On December 20, 2006, Millstream II Acquisition Corporation issued a press release reporting 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. 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.
A copy of the press release is attached hereto as Exhibit 99.1
Interestingly this is the man who is vice president of the competitor company, of the company MillStream wants to aquire. Hmm no motive there right? lol
Form 8-K for MILLSTREAM II ACQUISITION CORP
21-Dec-2006
Other Events, Financial Statements and Exhibits
Item 8.01 Other Events
On December 21, 2006, Millstream II Acquisition Corporation issued a press release announcing that 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 following proposals: (i) to adopt the Agreement and Plan of Merger, dated as of August 11, 2006, as amended on November 15, 2006, among Millstream II, Millstream II Merger Sub, Inc. and Specialty Surfaces International, Inc. d/b/a Sprinturf; (ii) to adopt the second amendment and restatement of certificate of incorporation for Millstream II; (iii) to adopt the Sprinturf Corporation 2006 Long-Term Incentive Plan; and (iv) to adjourn the special meeting to a later date if there are not sufficient votes to adopt the merger agreement, as presented in the Millstream II proxy statement dated December 8, 2006.
A copy of the press release is attached hereto as Exhibit 99.1
How it reads to me is they voted not to finalize or agree to the acquisition terms as currently outlined. I do not see anywhere it stating that they have dropped the merger itself, just the current terms. This is the primary reason the PPS dropped, but it crashed because of the UNTRUE liquidation statement from an angry shareholder as follows...
WAYNE, Pa., Dec. 19 /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 it has been served with a complaint filed in the Court of Chancery of the State of Delaware in and for New Castle County seeking to enjoin Millstream II from holding the special meeting of stockholders currently scheduled for Thursday, December 21, 2006, at 10:00 a.m. 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.
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.
Millstream II's management believes that the claims raised in this complaint are without merit and that notice of the special meeting was properly given. Millstream II intends to vigorously defend the action and will consider its other legal remedies as a result.
Come to your own conclusion but after the company clears the air with a PR describing their new plan and when people come to their senses and realize this sell off was a ridiculous double whammy of half fact and total fiction then they will see how seriously undervalued and oversold it now is. Place your bets, im all in and loading up.
Posted by Firedog on :
Sounds good Posted by stocktrader22 on :
I want to get back into this play, but I heard talks that someone was trying to get the warrants liquidated.
Posted by stocktrader22 on :
Each Warrant entitles the holder to purchase from the Company one share of common stock at an exercise price of $5.00 commencing the later of the completion of a Business Combination with a target business or December 17, 2005 and expiring December 16, 2008. The Warrants will be redeemable at a price of $.01 per Warrant upon 30 days notice after the Warrants become exercisable, only in the event that the last sale price of the common stock is at least $8.50 per share for any 20 trading days within a 30 trading day period ending on the third day prior to the date on which notice of redemption is given. The Warrants will be redeemable at a price of $.01 per Warrant upon 30 days notice after the Warrants become exercisable, only in the event that the last sale price of the common stock is at least $8.50 per share for any 20 trading days within a 30 trading day period ending on the third day prior to the date on which notice of redemption is given.
This is why the warrants are at these prices. Most likely unless they acquire a company and the stock goes way up from $5 to $8.50 you aren't going to be able to exercise them.
Posted by Squire38 on :
ST22, Read up on warrants.
The $0.01 is the strike price. This is the amount that must be paid in order to either buy the warrant or sell it. The PPS of the warrant should not be directly proportional to the strike price.
JimSC's math above best server MSMAW.
Right now MSMA cycles between $5.17 to $5.45. MSMA is looking to acquire another company. What do you think will happen to MSMA once they do acquire another company? PPS will rise.
I firmly believe that the warrant drop was not natural. If the news was so bad the PPS of MSMA should have tanked also. MSMAW was anywhere between $1.15 and $0.15 before the 100 shares, sharholder filed suit*. *Note the 100 shares, shareholder was VP for a competitor (GEE isn't that hookey).
I do urge everyone to read up and understand warrants before playing them. To clarify my position I'm still in this and up by about 250%-400% (depending on the day). My 1st sell point isn't till above 10 cents. I do not plan on holding the warrants and exercising them myself.
Posted by stocktrader22 on :
quote:Originally posted by Squire38: ST22, Read up on warrants.
The $0.01 is the strike price. This is the amount that must be paid in order to either buy the warrant or sell it. The PPS of the warrant should not be directly proportional to the strike price.
JimSC's math above best server MSMAW.
Right now MSMA cycles between $5.17 to $5.45. MSMA is looking to acquire another company. What do you think will happen to MSMA once they do acquire another company? PPS will rise.
I firmly believe that the warrant drop was not natural. If the news was so bad the PPS of MSMA should have tanked also. MSMAW was anywhere between $1.15 and $0.15 before the 100 shares, sharholder filed suit*. *Note the 100 shares, shareholder was VP for a competitor (GEE isn't that hookey).
I do urge everyone to read up and understand warrants before playing them. To clarify my position I'm still in this and up by about 250%-400% (depending on the day). My 1st sell point isn't till above 10 cents. I do not plan on holding the warrants and exercising them myself.
You should read up on the filings. The .01 wasn't mean to be bolded. The info above it was. It says that after december 17, 2006 you can not exercise the warrants unless MSMA is at a price of $8.50 or higher for 20 consecutive days by dec 2008. Otherwise the warrants are worthless and will expire. That is my point as to why these warrants are not valued that highly right now. Because the acquisition was called off and the stock doesnt look like its going from $5.30 to $8.50 where the warrants can be exercised.
Want to argue this out?
Posted by Dudanation on :
quote:
Want to argue this out? [/QB]
Yeah... I think pepperoni is much better than sausage!
Posted by SuperSniper00 on :
quote:Originally posted by Dudanation:
quote:
Want to argue this out?
Yeah... I think pepperoni is much better than sausage! [/QB]
Your mom likes the sausage!
Posted by SuperSniper00 on :
VERY INSIGHTFUL POST REGARDING DROP IN PPS "This play should bounce by itself, the warrents expire in 2 years, and it was .40 cents just a week ago. But what will really make this fly is any news of a new target acquisition or even a re-negotiation of the current one. And when people realize that the suggestion by one of the shareholders to liquidate the warrents was total crap and was shot down by shareholder vote and court order. Interestingly enough the shareholder that suggested the liquidation was actualy the vice president of the company that millstream was about to aquire and is their competition! That huge sell off is not about failing to make an aquisition, its about somebody who cried liquidation and everyone freaked out without looking at the details. Im loading up at these levels, one of the best lotto tickets out there."
Posted by stocktrader22 on :
Okay ignore what I was saying...you guys wotn ever get it. GLTA....
It may pop from here...but just saying be careful.
Posted by Squire38 on :
quote:Originally posted by stocktrader22: Want to argue this out?
I read it differently. So I called the company. I'm not too good on legalize, but they pretty much explained it how I read it.
If anyone is confused call them. I got bounced around for 10 minutes before someone explained it to me. I have a really low IQ, but as it was explained to me, it is how I was reading it.
Regardless, I'm up 300% and I don't plan on holding this until I can redeem the warrant.
Posted by JimSC on :
Great job, Squire. MSMA was up 40% in the first 6 weeks of this year. Hope she will perform well in the first 6 weeks of 2007. After a few shakes, most MSMAW shares are in the stronger hands now - just give her one more week and you will realize her true value.
MSMAW is a great gamble at this level. **** Date Open High Low Last Change Volume % Change 12/29/06 0.0300 0.0300 0.0250 0.0270 -0.0030 650160 -10.00% 12/28/06 0.0275 0.0330 0.0260 0.0300 +0.0050 987200 +20.00% 12/27/06 0.0275 0.0330 0.0220 0.0250 -0.0100 1284500 -28.57% 12/26/06 0.0300 0.0450 0.0300 0.0350 +0.0050 3558200 +16.67% 12/22/06 0.0200 0.0380 0.0190 0.0300 +0.0090 4915700 +42.86%
Posted by SuperSniper00 on :
Posted on Fri, Dec. 22, 2006email thisprint thisreprint or license this'Blank-check' firm's investors nix the artificial-turf ideaMillstream, of Wayne, first raised money, then was to acquire a business for shareholders. But they voted: Not Sprinturf. By Linda Loyd Inquirer Staff Writer Could it be a turf war? Artificial turf, that is.
Shareholders of a Wayne company formed two years ago to acquire a business - any business - in North America rejected proposals yesterday by management to acquire Sprinturf, a developer and installer of synthetic turf for athletic fields.
The acquiring company, Millstream II Acquisition Corp., raised $27.6 million in its initial public offering stock sale in December 2004 - and was trying to find a business "with significant growth potential" in which to invest that money, according to a filing with the Securities and Exchange Commission.
Millstream is what's known as a "blank-check" company, which raises money from investors first and acquires an operating company later. Millstream struck an agreement with Sprinturf in August in a transaction that would have left the artificial-turf installer a publicly held company. But a majority of Millstream shareholders voted against that plan.
Millstream chairman and chief executive officer Arthur Spector did not return telephone calls yesterday.
On Wednesday, Millstream announced that the Delaware Chancery Court denied a motion by one of its shareholders to block Millstream from holding the special stockholders meeting at 10 a.m. yesterday.
The plaintiff who had been seeking to prevent the shareholder meeting was David Moskowski, who owns 100 Millstream shares and is senior vice president of FieldTurf Tarkett, a Sprinturf rival.
Moskowski was unavailable for comment yesterday, according to a FieldTurf spokesman. He alleged in the complaint that Millstream II failed to give proper notice of the shareholders' meeting, according to SEC filings.
Moskowski had asked the court to order Millstream II to "proceed with a plan of liquidation and dissolution."
That's because, if the merger with Sprinturf failed by Dec. 23, Millstream's officers have to dissolve and liquidate Millstream within 60 days, according to a proxy statement sent to shareholders.
Shares of Millstream closed yesterday at $5.37, up 17 cents.
As of Sept. 30, Millstream had about $25.5 million in a trust account, maintained by an independent trustee, which was to be released if the acquisition of Sprinturf succeeded.
Millstream noted in a proxy statement that the market for synthetic-turf systems for athletic fields is "growing rapidly."
Sprinturf's customers include the Philadelphia Eagles, Major League Soccer team D.C. United, a half-dozen universities, including the University of Pennsylvania, and 150 high schools. Sprinturf reported $28.2 million in revenue during the nine months ended Sept. 30, up from $23.4 million in the same period a year earlier, Millstream said.
Sprinturf was not profitable during that period. Its net loss from operations decreased to $246,000 from the $2.1 million loss for the same nine months in 2005.
Competitor FieldTurf, a privately held company based in Montreal with 2005 revenue of about $190 million, describes itself as "the world leader" in artificial-grass systems, according to a posting on its Web site. Reached yesterday, CEO John Gilman said FieldTurf had "no interest in acquiring Sprinturf."
Asked about Sprinturf's interest in a merger to expand its market share, Gilman said: "If a company has the wherewithal to grow, good luck to them. We play our part in the industry, and a competitor plays theirs."
Sprinturf CEO Henry Julicher could not be reached yesterday.
Synthetic-turf systems for athletic fields are big business, and competition is fierce. The Synthetic Turf Council, an industry trade group, estimates that annual installations of synthetic turf for athletic fields in the United States increased 100 percent between 2003 and 2005, from about 400 installations in 2003 to about 800 in 2005, according to Millstream.
Posted by SuperSniper00 on :
2006 tax loss is over! Lets see this baby rise to the top in 2007!
Posted by stocktrader22 on :
quote:Originally posted by Squire38:
quote:Originally posted by stocktrader22: Want to argue this out?
I read it differently. So I called the company. I'm not too good on legalize, but they pretty much explained it how I read it.
If anyone is confused call them. I got bounced around for 10 minutes before someone explained it to me. I have a really low IQ, but as it was explained to me, it is how I was reading it.
Regardless, I'm up 300% and I don't plan on holding this until I can redeem the warrant.
Read the 10Q filing, I dont care who told you verbally in the company. Read the filing. It clearly states that MSMA must be at $8.50 or above for 20 days if you want to exercise the warrant. This goes up big with potential acquistion news, not anything else IMO. Cuz otherwise you wont see $8.50+ and the warrant will be worthless
Posted by Squire38 on :
We can agree to disagree. I believe, and according to the company, the 1st sentence is the important one. I don't invest in pennies, just trade them.
Either way the company still has just under 2 years to acquire a business. IMO, this will go once they find a business to acquire. The common stock did not drop when the shareholders voted down the acquisition.
Most importantly, what is different, as far as the warrants are concerned, from 2 months ago? The PPS was $0.45, at that time the common stock was at $5.30, about $0.05 below where it is now and the warrants are $0.02-0.03.
Don't invest in pennies, trade them. I will not be in a warrant long enough to ever exercise it personally. Like all pennies, this will go up on manipulation or hype, or it may drop.
Posted by stocktrader22 on :
Millstream II shareholders reject turf business investment 12/22/2006, 1:38 a.m. ET The Associated Press
PHILADELPHIA (AP) — The grass did not look greener to shareholders of a company formed to look for a business with growth potential in which to invest.
Millstream II Acquisition Corp. voted Thursday to reject proposals by management to acquire Sprinturf, a Philadelphia-based developer and installer of synthetic turf for athletic fields.
Millstream, which raised $27.6 million in its initial public offering in December 2004, had reached an agreement with Sprinturf in August, citing a rapidly growing market for synthetic turf systems for playing fields. But shareholders of Wayne-based Millstream II rejected the proposal.
The company said a Delaware chancery court had denied a motion Wednesday by one shareholder, David Moskowski, senior vice president of a Sprinturf competitor, FieldTurf Tarkett Inc., to block the shareholders' meeting, alleging proper notice was not given.
Moskowski asked that Millstream II be ordered to proceed with liquidation and dissolution. A proxy statement said if the merger with Sprinturf failed by Dec. 23, the officers would dissolve and liquidate Millstream within 60 days
Posted by Squire38 on :
quote:Originally posted by stocktrader22: Regardless... squire made the original find...thanks buddy!!! I called at .03 over this weekend letting everyone know based on T/A and the drop this is going up, and its at .044
Another big winner!
quote:Originally posted by stocktrader22: Read their filings..specifically the 10Q
They are very serious about making a business acquisition and that is actually the reason they IPO'd at $6.00 share. They raised 23million which they put in an investment trust and will use this for a merger. There is only 5,600,000 shares in the float. This is so undervalued at .03 it is not even funny.
quote:Originally posted by stocktrader22: Look at the movement last time when stochastics was below 20 and crossed...looks like it went from .15 to .35
I expect .07+ short term here.
Interesting how you changed your tune.
Looking to get back in?
quote:Originally posted by stocktrader22: I want to get back into this play, but I heard talks that someone was trying to get the warrants liquidated.
Bash it down, by posting news from 2 weeks ago?
Remember the guy in your news post, David Moskowski, is the VP of the rival company that MSMA was going to acquire. I doubt you'll ever hear from him again since the Shareholders voted against the acqusistion. He is the only one wanting MSMA to liquidate. A mere 100 share shareholder, who is VP of a rival company.
If you don't like it anymore why are you here? If anyone is going to get in, I'm sure they could quickly scan through the mere 4 pages of posts, or better yet (and wiser) to do their own DD.
As I said in the past, I'm up on it. Do I want it to go up more? Sure as hell I do. But I don't want anyone else in it unless they've done their DD.
Posted by stocktrader22 on :
Nope, not looking to bash it down. Was high on it and made some money, really liked it, until I dug deeper into the filings. Looks like the market knows I was correct. No need for me to bash it, giving a heads up on this one so people don't lose money. Good luck.
Posted by stocktrader22 on :
I'm not here to taunt or say I told you so. Just wanted to let you know thats why I don't trust what the company says over the phone. In the filings it was pretty clear what was happening as a result of the merger not going through, and thats why I didnt see a bounce coming after the details were clear Posted by Squire38 on :
I couldn't understand the filing, so I called. Anyway I flipped the shares. I still think the warrants will rise once they annouce another acquisition, so I'll keep buying the shares at a penny and flip them after they peak.
Posted by JimSC on :
This is the MMs' game -- they will take advantage of the confusion of the investors and take down the pps as much as they can, and when they have collected the majority of the warrants, they will raise the pps as much as it can go -- 10X or 100X. The pps may be down to 0.001 and then up to 0.2 -- the MMs have full control of it, we just have to wait and watch.
At 0.01, you can buy all the warrants with 50 K$ At 0.001, it's only 5 K$ Now you know why the PPS of MSMAW behaved so strangely. It's because the confusion and profit potential for the MMs. They have been short-selling from the top, and they are collecting shares at bottom. When it's done, they will bring the pps up to unload their inventory. Just give them 6 weeks. This game is for gamblers, not for investors. If you don't like the risks, please stay out of this table. Thanks.
[ January 04, 2007, 13:45: Message edited by: JimSC ]
Posted by stocktrader2006 on :
Anyone still in this?
Posted by Squire38 on :
I keep flipping this to get free share and profit. Today was a great day!!!
Posted by Squire38 on :
Yum! Moving again.
Posted by SuperSniper00 on :
This peice of crap needs to go back to .03!
Posted by Squire38 on :
Man, piece o' crap is awesome for flipping. I'm up 100%.
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