posted
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.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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posted
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.
Posts: 3228 | From: Michigan | Registered: Aug 2005
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posted
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.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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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.
Posts: 3228 | From: Michigan | Registered: Aug 2005
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posted
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.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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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.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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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.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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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.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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posted
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.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
-- 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
Posts: 3228 | From: Michigan | Registered: Aug 2005
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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).
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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posted
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).
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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quote:Originally posted by jos_tul: MMs walking this down now based on L2
Bastages only partially filled me at 24.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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posted
This one looks like it wants to go today ,very low floater , and uts on small buys , chart set up looks great
Posts: 124 | Registered: Dec 2006
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posted
A few MMs lined up at 38, but don't know how quick they'll move.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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posted
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.
Posts: 3228 | From: Michigan | Registered: Aug 2005
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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.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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-------------------- Must be an easier way! Disclaimer: Don't buy or sell on my advice I am not a licensed broker. Posts: 424 | From: Oklahoma | Registered: Aug 2006
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posted
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.
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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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.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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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?
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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Yeah... I think pepperoni is much better than sausage! [/QB]
Your mom likes the sausage!
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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posted
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."
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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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.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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