posted
Originally posted by Humble~ We should not lose sight of the fact that the 6:1 deal is only valid if the price does not organically rise to $15 by Oct 30th (my interpretation of the 10K).
In your interpretation then if the pps is over $16.00 then we do not get the 6:1?
Posts: 1453 | From: Wisconsin | Registered: Jul 2006
| IP: Logged |
posted
Humble - what worried me is that Sabra didn't know what I was talking about when I asked about the share issuance........even the Bashers know what the share issuance is!!!!!!
I agree about an IR or PR dept. I do understand she is busy but to tell me that she doesn't know why we worrying, it's their problem is just plain ignorant!!!!
I should've called "marbles in the mouth" Ben.. from now on I think just the men should call Sabra or better yet not call at all.
-------------------- ..just remember....Family is EVERYTHING!! Posts: 3944 | From: Rochester, NY | Registered: Sep 2006
| IP: Logged |
posted
The "little" people have $$$ in this thing!
quote:Originally posted by tyleemary:
quote:Originally posted by Jenna: By the way question #1:
1) How far in advance do you have to notify the transfer agent about the share issuance?
She said to me "What do you mean share issuance?" I was stunned & said "The 6:1 shares, the reset share issuance... & she said "Why are you peope worrying about that, that's our problem when we notify the transfer agent, it has nothing to do with you!"
Nice Lady- NOT!!!
Why are we worried about it? Probably because we have a few dollars invested in your company!!!! THAT'S WHY!!!!
I dont them, They are constantly being hassled by the 'little' people on the street.
-------------------- ..just remember....Family is EVERYTHING!! Posts: 3944 | From: Rochester, NY | Registered: Sep 2006
| IP: Logged |
posted
I'm not liking this change in Sabra. It always made me feel better to hear that she was always positive and upbeat. I can see that taking lots of calls about something would get on your neveres, but she was just plain rude to Jenna. Her whole "striking out on the questions" is just plain un-called for! I sure hope things are going sour.
Thanks for calling Jenna, sorry you didn't get the warm reception that we've all heard so much about.
Posts: 1028 | From: Georgia | Registered: Jul 2005
| IP: Logged |
quote:Originally posted by new2stocks: Originally posted by Humble~ We should not lose sight of the fact that the 6:1 deal is only valid if the price does not organically rise to $15 by Oct 30th (my interpretation of the 10K).
In your interpretation then if the pps is over $16.00 then we do not get the 6:1?
From the 10K:
"In the event that the Actual Average Closing Price is less than $15.00, the Surviving Holdings Company shall deliver written notice to the Company no later than the second (2 nd ) Business Day preceding the Closing Date pursuant to which the Surviving Holdings Company shall elect, in its sole discretion, to: [A,B, or C]."
"The Corporation hereby chooses option (c) to reset the Share value to an equivalent of $15.00 by issuing additional shares to each shareholder of record as of the close of business on October 16, 2006, the issuance date of the Reset shares is October 30, 2006 10 business days from the filing of this form 10-KSB."
This does sound to me like the 30th is a monumental day, possibly the day they either hit $15 or issue the order to pay out the 6:1. If they plan to hit $15, we will be in for a fun week. If they have resigned to the fact that they will do the 6:1, then this week should be very slow and they TA will get their marching orders after Oct 30th.
Read the deal and draw your own conclusions.
... In My humble Opinion
Posts: 150 | From: None | Registered: Jul 2006
| IP: Logged |
quote:Originally posted by Jenna: By the way question #1:
1) How far in advance do you have to notify the transfer agent about the share issuance?
She said to me "What do you mean share issuance?" I was stunned & said "The 6:1 shares, the reset share issuance... & she said "Why are you peope worrying about that, that's our problem when we notify the transfer agent, it has nothing to do with you!"
Nice Lady- NOT!!!
Why are we worried about it? Probably because we have a few dollars invested in your company!!!! THAT'S WHY!!!!
We should not lose sight of the fact that the 6:1 deal is only valid if the price does not organically rise to $15 by Oct 30th (my interpretation of the 10K). This does not matter to us value-wise as we will have the same dollar totals whichever way it goes.
I agree that Sabra has been overwhelmed by this whole thing. She is tired and not able to say much at this point. From here on we are along for the ride. Additionally, it might be insulting to her and the company to doubt their ability to hit that $15 dollar mark if she has a head full of information telling her that that $15 is a foregone conclusion.
I take the call in a very positive light except for the ill-will carried away by Jenna.
... In My humble Opinion
Humble ..... I disagree with you 100%. It doesn't matter what the price goes to. The formula was effected on Oct 16. Those share are delegated from that date on regardless what the price goes to. If you didn't mean that ...please excuse me for taking it that way.
Posts: 557 | From: UpState New York | Registered: Sep 2006
| IP: Logged |
quote:Originally posted by Jenna: That's weird I just got an email from Mitch... I sent him an email the 1st night the list came out because I thought my name wasn't on the list but it is. But I followed up with another email immediately stating that I was on the list---wow he must be super busy!!! That was like 2 or 3 weeks!
Send him an e-mail back. In a very nice and professional way, inform him of your recent conversation with Sabra. Show compassion, but remind him that you and your dad are shareholders. Ask him if the "no comment" statements should be viewed in a positive light or a negative light as was your general feeling upon hanging up the phone. Show compassion for their positions in this as well...
-------------------- "If you go the Extra Mile there will be no Traffic Jams".
St. Matthew Posts: 885 | From: Dallas, Texas | Registered: Sep 2006
| IP: Logged |
posted
I think the whole "E" thing put a very bad taste in the companies mouth. Sorry, but if I was receiving 1000's of phone calls I would get irritated as well. Plus, I think they are covering their butts so people can't TWIST their words. JMO
posted
The reason I feel that it is cut and dry is when Rufus was on the radio....he said it the way I described. I hope it goes that way because the reward, in my humble opinion, has the potential to be far greater getting the extra shares.
Posts: 557 | From: UpState New York | Registered: Sep 2006
| IP: Logged |
posted
Doc, thats the way I see it too. The 6/1 happens no matter what the price is, but I'll be happy whith or without the extra shares when the bombshell drops. Of course its JMHO
Posts: 478 | From: Palm Desert, Ca. U.S.A. | Registered: Nov 2004
| IP: Logged |
posted
company would benefit more by not having to dish out shares to all of you, it would be nice to be * 15 before the date but it feels so out of reach. i dont see the share price rising to 15 after a split. that is why i say this..
Posts: 3086 | From: miami | Registered: Nov 2005
| IP: Logged |
posted
Iteresting on how SSSU is dealing with their Short shares. Take a look.
Sorry Jenna about your conversation with Sabra. Maybe she likes the guys better. LOL
Silver Screens Studios: Update Regarding Adoption of Shareholders Integrity Plan to Address its Capital Structure and NOBO Evaluation and Makes Plans to Migrate to NASDAQ Small Cap Market Monday October 23, 12:41 pm ET Counterfeit Share Issue, Dividend and Acquisition Strategy
ATLANTA--(BUSINESS WIRE)--Silver Screen Studios, Inc. (OTCBB: SSSU - News), http://finance.yahoo.com/q?d=v1&s=sssu.ob implements Shareholders Integrity Plan to address share imbalance, updates facts regarding trading in the company shares by TD Ameritrade and moves ahead with first acquisition and Reg. E Funds. ADVERTISEMENT
TD Ameritrade Facts:
According to the NOBO list SSSU has 770 account holders at TD Ameritrade who have been prevented buying shares in the company. We are in the process of determining the number of shares contained in those accounts.
Facts:
1. The purchase restriction was placed on the company's shares by TD Ameritrade after we announced we were requesting a NOBO list and suspected failure to deliver positions in our shares.
2. On July 14, 2006 a day in which we traded 122 million shares, TD Ameritrade would not allow trading on their platform for 2 hours.
The company is discussing its strategy with legal counsel, investment banking counsel and will have a plan in effect to address counterfeit shares, failure to delivery positions, and any short selling of its shares later this week.
Phase I of the Shareholders Integrity Plan.
The SIP's implementation is proceeding ahead with a planned acquisition of a real estate franchising company for distressed assets as well as a commercial mortgage company for financing of the assets.
Reg. E Funding of Acquisition.
Our first Reg. E Fund will make the initial investment in the franchising and mortgage company. We are negotiating terms for initial investments in the fund.
We plan to have definitive contracts in place this week for the closing of the acquisitions and the planned spin out of shares to our shareholders.
Implementation of Acquisition and SIP:
The management of SSSU has accessed a shareholders list as of 10-11-2006. This list was compared to the NOBO list as of 10-11-2006. The shares in excess of the official total as compiled by the transfer agent will be deemed "counterfeit shares," see http://www.bdcjournal.com/currentissue.pdf, and pages 10-12 on the issue of counterfeit shares.
Counterfeit Shares:
Any position deemed counterfeit will be deemed to be short a failure to deliver share; each failure to deliver share outstanding of SSSU shall be deemed liable as follows:
Counterfeit Shares Liability:
Each counterfeit share shall be liable to SSSU as follows:
(i) $1.00 per share in cash; plus
(ii) The 52 week high of $.052 multiplied by 7.77 multiplied by the number of days the failure to deliver position has been open.
(iii) There are currently 102,767,486 shares unaccounted for.
Shareholder Benefits and Dividend Distribution:
We have developed the dividend program with one of the Reg. E. Funds. Each Reg. E fund can raise up to $5.0 million per year exempt from registration. We are working out the details of a dividend valued in the range of $0.05-$0.12 per share.
Summary:
The SIP will have no effect on our current shareholders. The SIP will affect the imbalance in shares that have failed to be delivered and remain open. We are proceeding with actions deemed necessary to protect the shareholder base and structure our company for growth.
About Global 1 Investment Corporation:
The family of funds we construct will have equity, fixed income, real estate securities, mortgages, affordable housing and commercial assets as investment opportunities for different classes of investors.
Disclaimer: The below disclaimer is incorporated by reference as if fully set forth herein this as well as all media releases on SSS behalf. The statements contained in this released are forward looking and may or may not occur due to forces beyond the company's control.
Posts: 6410 | Registered: Jul 2006
| IP: Logged |
The ratio of share issuance will use the following formula ($15.00 divided by the Actual Closing Price on October 16, 2006 (X) minus Actual Closing Price on October 16, 2006) (15 / X - X).
If the share issuance depended on the price being under $15 on the 30th, then it would be based on the closing price on October 30, not October 16.
"The Threshold Price Reset means that for every share you owned as of the close of business today you will receive 6 additional shares (no fractions will be issued and will be rounded down to the nearest whole) of CSHD on or around October 30, 2006. This transaction will take the total issued share number to 618,813,942 giving the corporation an estimated book value of $11.78," stated Rufus Paul Harris, Chief Executive Officer.
If they were doing it the other way, why would they give 6:1 if the price is say $13.00? They wouldn't; they would base it on the closing price of the 30th and only give you one extra share.
That is the way it reads to me anyways. Take it how you wish.
Posts: 53 | Registered: Oct 2006
| IP: Logged |
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell Posts: 4190 | From: Rhode Island | Registered: Mar 2006
| IP: Logged |
The ratio of share issuance will use the following formula ($15.00 divided by the Actual Closing Price on October 16, 2006 (X) minus Actual Closing Price on October 16, 2006) (15 / X - X).
If the share issuance depended on the price being under $15 on the 30th, then it would be based on the closing price on October 30, not October 16.
"The Threshold Price Reset means that for every share you owned as of the close of business today you will receive 6 additional shares (no fractions will be issued and will be rounded down to the nearest whole) of CSHD on or around October 30, 2006. This transaction will take the total issued share number to 618,813,942 giving the corporation an estimated book value of $11.78," stated Rufus Paul Harris, Chief Executive Officer.
If they were doing it the other way, why would they give 6:1 if the price is say $13.00? They wouldn't; they would base it on the closing price of the 30th and only give you one extra share.
That is the way it reads to me anyways. Take it how you wish.
Are you saying there is a typo in the 10k thats been filed twice???
Posts: 6410 | Registered: Jul 2006
| IP: Logged |
The Company's plan of operations for the remainder of 2006 is to raise capital against its asset base and develop its’ role in the niche market for securities offerings using asset based funding techniques. This entails the development of the CSHD business model. CSHD intends to list its stock on the NASDAQ. To this end, CSHD is in discussion with various market makers to engage in a firm underwriting using a syndicated market distribution approach. Moreover, CSHD intends to set up a captive insurance operation through its’ insurance liaison with Lloyds affiliations, who are members of the CSHD team. CSHD intends to write policies to cover its loans, when applicable and secure the proper reinsurance for underwritten loans through the London reinsurance markets and other applicable markets
Then read this....http://www.chron.com/disp/story.mpl/ap/fn/4275612.html
Keep in mind BRK/A is now trading at over $100,000.00 per share...
quote:Originally posted by Jenna: By the way question #1:
1) How far in advance do you have to notify the transfer agent about the share issuance?
She said to me "What do you mean share issuance?" I was stunned & said "The 6:1 shares, the reset share issuance... & she said "Why are you peope worrying about that, that's our problem when we notify the transfer agent, it has nothing to do with you!"
Nice Lady- NOT!!!
Why are we worried about it? Probably because we have a few dollars invested in your company!!!! THAT'S WHY!!!!
We should not lose sight of the fact that the 6:1 deal is only valid if the price does not organically rise to $15 by Oct 30th (my interpretation of the 10K). This does not matter to us value-wise as we will have the same dollar totals whichever way it goes.
I agree that Sabra has been overwhelmed by this whole thing. She is tired and not able to say much at this point. From here on we are along for the ride. Additionally, it might be insulting to her and the company to doubt their ability to hit that $15 dollar mark if she has a head full of information telling her that that $15 is a foregone conclusion.
I take the call in a very positive light except for the ill-will carried away by Jenna.
... In My humble Opinion
Humble ..... I disagree with you 100%. It doesn't matter what the price goes to. The formula was effected on Oct 16. Those share are delegated from that date on regardless what the price goes to. If you didn't mean that ...please excuse me for taking it that way.
First, I am not a contract lawyer so everything I see in that contract must go through the filter of a layman.
Second, I believe Doc is correct about the 6:1. I was under the mistaken presumption that the Actual Average Closing Price was based on a three day rolling avarage. It is not.
"Actual Average Closing Price" means, with respect to the Buyer's Stock, the average of the daily closing sales price thereof on the Over the Counter NASDAQ Bulletin Board National Market System during the twenty (20) trading day period ending three (3) Business Days prior to the Closing Date, as reported in The Wall Street Journal.
Based on this twenty day period, it does seem like the 6:1 is pretty solid.
I try to gather as much information as I can and keep my mind open to all alternatives. I only post here to get the very valuable feedback of others who have invested equal time to researching this play.
Again, we will be rewarded no matter which way this plays out so cheers to us all.
... In My humble Opinion
Posts: 150 | From: None | Registered: Jul 2006
| IP: Logged |
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell Posts: 4190 | From: Rhode Island | Registered: Mar 2006
| IP: Logged |
LONDON — Equitas Holdings Ltd., the reinsurer set up by Lloyd's of London, said Friday that Warren Buffett's Berkshire Hathaway Inc. agreed to take on its liabilities and inject an extra $7 billion in reinsurance cover.
Omaha, Nebraska-based Berkshire Hathaway will take on the staff and operations of Equitas, the two companies said in a joint statement.
Equitas was formed to reinsure and run-off the 1992 and prior years' non-life liabilities of the so-called Names, or underwriters, at Lloyd's of London. Equitas actively manages the non-life liabilities arising from policies written by Lloyd's syndicates in 1992 and preceding years.
"This agreement with one of the world's largest insurance groups will transform the outlook for Equitas and for reinsured Names," Equitas Chairman Hugh Stevenson said in a statement. The "extra cover will dramatically improve the financial position of Equitas."
Lloyd's of London, the world's biggest insurance market, is a society of corporate underwriters and wealthy individuals that make insurance transactions through 44 managing agents and 62 syndicates. Its investors, known as Names, come together to spread risk.
quote:Originally posted by a surfer: Are you saying there is a typo in the 10k thats been filed twice???
No, I'm saying the 10k clearly states that we get 6:1 regardless of the price of the stock at any point in the future.
Posts: 53 | Registered: Oct 2006
| IP: Logged |
quote:Originally posted by Chartwalker: Here is something to DD!!
Connection?!!
First read this From 10k
The Company's plan of operations for the remainder of 2006 is to raise capital against its asset base and develop its’ role in the niche market for securities offerings using asset based funding techniques. This entails the development of the CSHD business model. CSHD intends to list its stock on the NASDAQ. To this end, CSHD is in discussion with various market makers to engage in a firm underwriting using a syndicated market distribution approach. Moreover, CSHD intends to set up a captive insurance operation through its’ insurance liaison with Lloyds affiliations, who are members of the CSHD team. CSHD intends to write policies to cover its loans, when applicable and secure the proper reinsurance for underwritten loans through the London reinsurance markets and other applicable markets
Then read this....http://www.chron.com/disp/story.mpl/ap/fn/4275612.html
Keep in mind BRK/A is now trading at over $100,000.00 per share...
God I hope so Chart...nice find.
-------------------- "If you go the Extra Mile there will be no Traffic Jams".
St. Matthew Posts: 885 | From: Dallas, Texas | Registered: Sep 2006
| IP: Logged |
"Moreover, CSHD intends to set up a captive insurance operation through its’ insurance liaison with Lloyds affiliations, who are members of the CSHD team. CSHD intends to write policies to cover its loans, when applicable and secure the proper reinsurance for underwritten loans through the London reinsurance markets and other applicable markets"
From Link above:
LONDON — Equitas Holdings Ltd., the reinsurer set up by Lloyd's of London, said Friday that Warren Buffett's Berkshire Hathaway Inc. agreed to take on its liabilities and inject an extra $7 billion in reinsurance cover. --------------------------------
-------------------- 'The rewards for those that persevere, far exceed the pain that must proceed the victory!' Posts: 399 | From: leeds, england | Registered: Jul 2006
| IP: Logged |
posted
This is so funny...it's like the last three days of last week never happened...we're right back where we were on Tuesday at close, lol...
Posts: 2024 | From: New Orleans, LA | Registered: Apr 2006
| IP: Logged |
Topic Closed
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Wink]](wink.gif)
![[Smile]](smile.gif)
![[Big Grin]](biggrin.gif)
