I missed it. I put order at .01 this morning but then it did not go, so I canceled my order. Wow ! Damn ! I should make money today !
Posts: 156 | From: Rochester | Registered: Sep 2006
| IP: Logged |
October 6, 2006 Silver Screen Studios Requests NOBO List Silver Screen Studios, Inc. (OTC: SSSU) management believes that "there is a significant failure to deliver position in our stock." On October 2, the company announced that as part of its capital restructuring process, it would order a NOBO list from ADP to determine the number of shares outstanding and the number of holders of the company's shares. The NOBO list is a non-objecting beneficial owners list that offers the names and share positions of the clients of banks and brokers who hold their positions in street name. Early this afternoon, Silver Screen issued a follow up press release, stating that "we have received the Transfer Agent's Shareholders list and will compare with the NOBO list." The company believes that recent selling of Silver Screen common stock is not related to actual shares outstanding. In other words, the company is alleging that there are phantom or "naked" short shares on the second market. Once comparing the NOBO list from ADP to the current transfer agent list, the company will be able to determine if indeed there is a short position in the company's shares. With the news out, investors began to purchase shares of stock in hopes that there is a short position and betting that those short sellers would have to buy stock at higher prices to cover their position. The move mimics recent attempts by other over the counter corporations such as American Way (OTC: AWYB) and Conversion Solutions (OTC: CSHD) to request a NOBO list to determine short positions. Each of those companies have experienced substantial percentage gains in their share price since announcing the request for a NOBO list. Silver Screen stock finished higher by $.0144, or 148%, to $.0241 on heavy volume of 145 million shares.Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
| IP: Logged |
agreed realtor, there can be a major selloff resulting from profit taking. not a wise thing to buy at this point or hold too long imo. dont stick with a penny i learned that the hard way, i took profits and i'm now loaded with qbit- could be the next big runner imo
Posts: 4071 | Registered: Dec 2005
| IP: Logged |
someone said higher lows what does that mean does anyone think it will hit .03 or maybe higher i wish i knew then i could jump right into qbit mon.afternoon
Posts: 2270 | From: andalusia, IL, USA | Registered: May 2004
| IP: Logged |
Silver Screens Studios: Implements Shareholders Integrity Plan and Mergers & Acquisition Program SSSU to Implement Shareholders Integrity Plan along with Acquisition Program Oct 9, 2006 12:01:00 PM Copyright Business Wire 2006
Dividends distributions will only be made to the official shareholder list as verified by our transfer agent. Any excess shares as revealed by the NOBO list will be treated as a short position in the common stack and a short position in any dividend and will be held liable for each dividend distribution which we will enforce by the share exchange program. See http://www.businessjive.com/nss/darkside.html for a commentary on failure to deliver and how we are addressing the issue at SSSU.
We have formally initiated our acquisition program to acquire three (3) businesses during the next 180 days and to acquire five (5) distressed real estate assets. Our investment banking group is actively seeking businesses in the real estate, financial services and entertainment sectors for acquisition.
We are seeking businesses with EBITDA of $1.0-$3.0 million to acquire for use as dividend spin outs to our shareholders. We are especially interested in 8(a) Certified Businesses. We will use the capital secured by the Reg. E Funds, up to $ $10.0 million per year, to acquire the businesses and spin off a portion of the equity in each business to our shareholders. Each acquisition will be structured as a business combination and based on the EBITDA of $1.0 to $3.0 million we estimate a per share price of $0.25 to $0.65 per share for each acquisition.
We have a strategy to increase the book value of SSSU and enter into a business combination via Form S-4. Once the business combination is completed we expect the combined business to trade at the value of the combine entity. Each of the acquisitions we make will be combined with SSSU and the combined business will trade under our symbol.
We have activated our distressed assets fund and intend to open escrow on several properties shortly.
Restructuring of Capital Structure:
Our management has designed a funding program to fund our future capital needs. The BDC we are developing under Reg. E. each have the ability to raise up to $5.0 million per year and an equal amount of debt for a capital structure of $10.0. The Funds will supply the capital for our M&A Program.
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. The family of funds we are developing will assists SSSU in support of its restructuring and will immediately fund the real estate and entertainment business units. We have developed our business model to fund and develop new high growth companies.
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.
Source: Silver Screen Studios, Inc.
Silver Screen Studios Inc. Barry Thomas 404-255-0400 sssu*mindspring.com John 15:1-5
Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
| IP: Logged |