-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top
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Did you guys no that there is a rumour of a merger with an amex company...new financing is comming and the short possisition is 6mil verified....that is 25 percent of the float...this is a ticking time bomb.... .30-.40 shortly
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quote:Originally posted by emich25: Did you guys no that there is a rumour of a merger with an amex company...new financing is comming and the short possisition is 6mil verified....that is 25 percent of the float...this is a ticking time bomb.... .30-.40 shortly
please provide sources...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Wednesday through Friday Candlesticks look like the makings of a Morning Doji Star to me! Bullish.
That and the UHV are very nice signs.
I also like that they have lived up to their committments with the Wells Fargo setlement and stayed away from the Commander Fund when they started playing games.
Very Nice.
Thanks Prdponce! You just made my Monday morning decision easy. Jumping in.
The Bigfoot
-------------------- No longer eligible for government service due to lack of tax issues.
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'agree doublediamond... I'm heavily invested in MLXO.. beautiful chart, huge volume low floater and some big things are in the workd... just watch what happens this week '
quote:Originally posted by emich25: Did you guys no that there is a rumour of a merger with an amex company...new financing is comming and the short possisition is 6mil verified....that is 25 percent of the float...this is a ticking time bomb.... .30-.40 shortly
At this point I would be happy with a nickle. Where did you get .40 from???????
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It gets knocked down because of a short seller..When the intial financing was done Tom had to put up his shares for collateral..The financing company then shorts the stock so far it is up to 6million...however the company has secured new financing and there is talks a merger with an amex company may happen..this is a real company not some start up new idea..the company has been around since the 70's unfortunatly they made some mistakes when it came to getting financing...anyhow we will se how this plays out but the fact remains they have 15mil in assets and with proper financing can get things running again...
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The company's stock was shorted sold drastically the last 2 years due to a past financier wanting to take over the company by gaining control of the shares. However, the company worked out new financing the last 2 months, the short was paid off, and that short has at least partly covered his postion.
However, very recently the CEO achieved new financing and part of the terms were putting up 8 million shares as collaterol. Come to find out that the shares were shorted, again, and the CEO found out about this. He is very upset at this and is now in the process of buying those 8 million shares back. THe person who shorted the 8 million now has to cover his short position by buying on the open market. The beauty of it is since there are so few shares available to the public (maybe 10 million or so), buying back these shares will be very difficult without driving up the share price a large amount-a classic short squeeze.
Plus, the company itself is in the process of an amazing turnaround story, so expect further pr's in the near future which will only cause more buying by the public, driving the share price up even further.
Basically, what this comes down to is its like having shares in a company KNOWING that there is someone out there in the very near future who MUST BUY almost 1/3 of the entire float. Only one thing can happen, and that is a parabolic situation of the price moving up, especially when this break .08. Honestly, anything is possible as far as how high this price can go when the short covering begins.
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notice how they waited until the eod to buy or cover..cause if they started in the morning than they would have tipped their hand and we would have run...this stock will be awesom soon
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