quote: Do your dd and ask questions...but most will tell you to read and read...there's your answer.....
Well, I did read. I read the 10-K that came out this afternoon which clearly said the merger consideration was going to be for those shareholders as of October 30th. I sold my shares so that I could digest the rest of the 10-K overnight, planning to get back after the dust had settled.
You guys were listening to radio songs earlier....I'm now listening to Cher's "If I could Turn Back Time"
Jo
Do what you want Jo but I am not convinced that you "missed the boat".
Posts: 507 | From: Rochester, NY | Registered: May 2005
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-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell Posts: 4190 | From: Rhode Island | Registered: Mar 2006
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quote:Originally posted by Jenna: Jo- Simon's talking about who qualifies for the divi.........
From the way he states it sounds like you would have had to be in by last wed. for settled shares today.
Posts: 6410 | Registered: Jul 2006
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I'm not usre about how this will be handled but to be a share holder of record means that a person would have had to buy the shares last Wenesday to be an offical shareholder of record today, which could possible mean that you lucked out and will get the distribution. There is something called trading with due bills but I'm not sure how that would be handled here. Who knows. This is different than anything before so hope reigns eternal.
GLTA Wally
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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posted
If I don't get the Divi after buying today, you can be sure that my lawyer will get involved.
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell Posts: 4190 | From: Rhode Island | Registered: Mar 2006
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I'm just not following that highlighted sentence...it doesn't make sense?
Oh...and pay special attention to that second paragraph...if I'm reading it right...you can really screw yourself here if you sell before the divi date...
quote: Sometimes a company pays a dividend in the form of stock rather than cash. The stock dividend may be additional shares in the company or in a subsidiary being spun off. The procedures for stock dividends may be different from cash dividends. The ex-dividend date is set the first business day after the stock dividend is paid (and is also after the record date).
If you sell your stock before the ex-dividend date, you also are selling away your right to the stock dividend. Your sale includes an obligation to deliver any shares acquired as a result of the dividend to the buyer of your shares, since the seller will receive an I.O.U. or "due bill" from his or her broker for the additional shares. Thus, it is important to remember that the day you can sell your shares without being obligated to deliver the additional shares is not the first business day after the record date, but usually is the first business day after the stock dividend is paid.
Posts: 2024 | From: New Orleans, LA | Registered: Apr 2006
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quote:Originally posted by wallymac: Chart, I understand the math that you are doing but the one thing you are not factoring in is that the price will adjust to the new share structure. If we are trading at $3 and have 5 times more shares available the market will Immediately adjust. Just as when you receive a cash dividend the PPS is adjusted by the amount of the dividend. So it would immediately be reduced by the same amount. If institutional investors won't be buying until the PPS reaches $5, we are further away from that goal.
THe premise you are using is the same premise as a Reverse Split. You end up with less shares but the same amount of money. Reverse and Forward splits are fine when they are used to accomplish goals. For instance a stock is trading so high that it limits the amount of investor that participate. The idea is to do a forward split reducing the PPS and making it affordable to a larger segment of investors. In this case we need to raise the PPS for NASDAQ and to attract the institutions to invest. This accomplishes neither of those goals.
Also in order to accomplish this split/dividend, at this time the Authorized Shares need to be increased. There are not enough shares available to accomplish this right now.
Ok so why did this end up happening? MY SPECULATION is that it has to do with NASD and the MM's. In order to get to NASDAQ, CSHD needs MM's to underwrite it. Well as long as they are squeezing them how are they supposed to get them to cooperate. It's because of NASD that there is a 10 day delay because it most be posted before a Dividend or Forward Split takes place. I believe that Rufus, Sabra etal believed that they were going to reset immediately after the 10K today but didn't get the approval to do so. The 10K had to be filed and the only alternative was to throw in the Forward Split/Dividend. Remember that Wall Street maybe be gucci and Armani suits but it's also a JUNGLE.
GLTA Wally
WHOA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Hey I am first now back at my computer catching up....
What I posted WAS NOT MY VIEWS!!!!!!
========THEY WERE FROM OTHER BOARDS============
I did that so we all could see how most people were taking this, and so we all could mull all the things I put out there...
posted
If I am correct ...like simon said it has to be on record and buys today won't be, and sells you get what you had I do believe minus 1 cause you sold so maybe jo you might have lucked out..
-------------------- Never lookback... Posts: 896 | From: NY | Registered: Jul 2006
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posted
I guess we will have to wait and see - this is a whole new animal. I will be surprised if they don't have to file for the divy though.
Posts: 507 | From: Rochester, NY | Registered: May 2005
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posted
Did anyone read what I posted above? Seems to be a pretty reliable source I quoted, lol...
Posts: 2024 | From: New Orleans, LA | Registered: Apr 2006
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posted
I bought today. I had better get the damn divy....
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell Posts: 4190 | From: Rhode Island | Registered: Mar 2006
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quote:Originally posted by luvforever: If I am correct ...like simon said it has to be on record and buys today won't be, and sells you get what you had I do believe minus 1 cause you sold so maybe jo you might have lucked out..
i'm not listening to simon...
BUT? i can tell you that he is wrong...
if i or you bought shares today?
i or you am/are the OWNER today...
this settelment thing is BS...
i've bene thru it several times... just call the broker and tell them, they'll get your shares...
the shares may be delivered to the incorrect place? but they are owed to the buyer...
this paly is unique, but the PR says clearly that if you owned them at CLOSE today the new shares are yours:
"The Threshold Price Reset means that for every share you owned as of the close of business today you will receive 6 additional share (no fractions will be issued and will be rounded down to the nearest whole) of CSHD on or around October 30, 2006.
when you buy? you OWN...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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posted
as I read the PR, whatever shares you own at end of today, you get 6 more shares for each 1.
Posts: 379 | From: Peoria, AZ. | Registered: Apr 2006
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posted
So you think I shou;d call Scottrade glassman and explain my situation?
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell Posts: 4190 | From: Rhode Island | Registered: Mar 2006
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posted
Yes and when you send a check to your broker does it not have to clear? Wouldn't it be the same way if you bought today? Just a silly q? I am sure some of you smart peeps have an answer. Though I never sold..so I git the divy and am just trying to help those who are looking for answers... it gets better and better
-------------------- Never lookback... Posts: 896 | From: NY | Registered: Jul 2006
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quote:Originally posted by frank021474: It says "Shareholder of record" at EOD today. So if that translates into anyone who buys today (But isnt settled yet) then you are good to go.
I believe that - and unless I hear otherwise I can buy tomorrow and get the divy as well.
Posts: 507 | From: Rochester, NY | Registered: May 2005
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posted
Do you think we will make the Wall Street Journal with this craziness... hoping to have that info to show my hubby before he falls over (still keeping this a secret until all of the details are settled!)
Posts: 942 | From: Wisconsin | Registered: Jan 2006
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posted
as far as I am concerned the document said as of today. Those shares are mine and my name is on the NOBO list from before. I get my divy....
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell Posts: 4190 | From: Rhode Island | Registered: Mar 2006
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posted
i convinced by latest PR, if you bought today, you own today, youget the extra shares.
my question is on the 30th, are we resetting the price at $15 or is it to stay whatever price its at??
cause it'd seem odd to give us all these extra shares to equal a $15 dollar pirce and then reset at $15, that a multipiling it many times....Rufus would have to love his shareholders to do that.
Posts: 379 | From: Peoria, AZ. | Registered: Apr 2006
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