posted
Great job, Squire. MSMA was up 40% in the first 6 weeks of this year. Hope she will perform well in the first 6 weeks of 2007. After a few shakes, most MSMAW shares are in the stronger hands now - just give her one more week and you will realize her true value.
MSMAW is a great gamble at this level. **** Date Open High Low Last Change Volume % Change 12/29/06 0.0300 0.0300 0.0250 0.0270 -0.0030 650160 -10.00% 12/28/06 0.0275 0.0330 0.0260 0.0300 +0.0050 987200 +20.00% 12/27/06 0.0275 0.0330 0.0220 0.0250 -0.0100 1284500 -28.57% 12/26/06 0.0300 0.0450 0.0300 0.0350 +0.0050 3558200 +16.67% 12/22/06 0.0200 0.0380 0.0190 0.0300 +0.0090 4915700 +42.86%
Posts: 3228 | From: Michigan | Registered: Aug 2005
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Posted on Fri, Dec. 22, 2006email thisprint thisreprint or license this'Blank-check' firm's investors nix the artificial-turf ideaMillstream, of Wayne, first raised money, then was to acquire a business for shareholders. But they voted: Not Sprinturf. By Linda Loyd Inquirer Staff Writer Could it be a turf war? Artificial turf, that is.
Shareholders of a Wayne company formed two years ago to acquire a business - any business - in North America rejected proposals yesterday by management to acquire Sprinturf, a developer and installer of synthetic turf for athletic fields.
The acquiring company, Millstream II Acquisition Corp., raised $27.6 million in its initial public offering stock sale in December 2004 - and was trying to find a business "with significant growth potential" in which to invest that money, according to a filing with the Securities and Exchange Commission.
Millstream is what's known as a "blank-check" company, which raises money from investors first and acquires an operating company later. Millstream struck an agreement with Sprinturf in August in a transaction that would have left the artificial-turf installer a publicly held company. But a majority of Millstream shareholders voted against that plan.
Millstream chairman and chief executive officer Arthur Spector did not return telephone calls yesterday.
On Wednesday, Millstream announced that the Delaware Chancery Court denied a motion by one of its shareholders to block Millstream from holding the special stockholders meeting at 10 a.m. yesterday.
The plaintiff who had been seeking to prevent the shareholder meeting was David Moskowski, who owns 100 Millstream shares and is senior vice president of FieldTurf Tarkett, a Sprinturf rival.
Moskowski was unavailable for comment yesterday, according to a FieldTurf spokesman. He alleged in the complaint that Millstream II failed to give proper notice of the shareholders' meeting, according to SEC filings.
Moskowski had asked the court to order Millstream II to "proceed with a plan of liquidation and dissolution."
That's because, if the merger with Sprinturf failed by Dec. 23, Millstream's officers have to dissolve and liquidate Millstream within 60 days, according to a proxy statement sent to shareholders.
Shares of Millstream closed yesterday at $5.37, up 17 cents.
As of Sept. 30, Millstream had about $25.5 million in a trust account, maintained by an independent trustee, which was to be released if the acquisition of Sprinturf succeeded.
Millstream noted in a proxy statement that the market for synthetic-turf systems for athletic fields is "growing rapidly."
Sprinturf's customers include the Philadelphia Eagles, Major League Soccer team D.C. United, a half-dozen universities, including the University of Pennsylvania, and 150 high schools. Sprinturf reported $28.2 million in revenue during the nine months ended Sept. 30, up from $23.4 million in the same period a year earlier, Millstream said.
Sprinturf was not profitable during that period. Its net loss from operations decreased to $246,000 from the $2.1 million loss for the same nine months in 2005.
Competitor FieldTurf, a privately held company based in Montreal with 2005 revenue of about $190 million, describes itself as "the world leader" in artificial-grass systems, according to a posting on its Web site. Reached yesterday, CEO John Gilman said FieldTurf had "no interest in acquiring Sprinturf."
Asked about Sprinturf's interest in a merger to expand its market share, Gilman said: "If a company has the wherewithal to grow, good luck to them. We play our part in the industry, and a competitor plays theirs."
Sprinturf CEO Henry Julicher could not be reached yesterday.
Synthetic-turf systems for athletic fields are big business, and competition is fierce. The Synthetic Turf Council, an industry trade group, estimates that annual installations of synthetic turf for athletic fields in the United States increased 100 percent between 2003 and 2005, from about 400 installations in 2003 to about 800 in 2005, according to Millstream.
-------------------- *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
2006 tax loss is over! Lets see this baby rise to the top in 2007!
-------------------- *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.
Read the 10Q filing, I dont care who told you verbally in the company. Read the filing. It clearly states that MSMA must be at $8.50 or above for 20 days if you want to exercise the warrant. This goes up big with potential acquistion news, not anything else IMO. Cuz otherwise you wont see $8.50+ and the warrant will be worthless
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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posted
We can agree to disagree. I believe, and according to the company, the 1st sentence is the important one. I don't invest in pennies, just trade them.
Either way the company still has just under 2 years to acquire a business. IMO, this will go once they find a business to acquire. The common stock did not drop when the shareholders voted down the acquisition.
Most importantly, what is different, as far as the warrants are concerned, from 2 months ago? The PPS was $0.45, at that time the common stock was at $5.30, about $0.05 below where it is now and the warrants are $0.02-0.03.
Don't invest in pennies, trade them. I will not be in a warrant long enough to ever exercise it personally. Like all pennies, this will go up on manipulation or hype, or it may drop.
-------------------- 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
Millstream II shareholders reject turf business investment 12/22/2006, 1:38 a.m. ET The Associated Press
PHILADELPHIA (AP) — The grass did not look greener to shareholders of a company formed to look for a business with growth potential in which to invest.
Millstream II Acquisition Corp. voted Thursday to reject proposals by management to acquire Sprinturf, a Philadelphia-based developer and installer of synthetic turf for athletic fields.
Millstream, which raised $27.6 million in its initial public offering in December 2004, had reached an agreement with Sprinturf in August, citing a rapidly growing market for synthetic turf systems for playing fields. But shareholders of Wayne-based Millstream II rejected the proposal.
The company said a Delaware chancery court had denied a motion Wednesday by one shareholder, David Moskowski, senior vice president of a Sprinturf competitor, FieldTurf Tarkett Inc., to block the shareholders' meeting, alleging proper notice was not given.
Moskowski asked that Millstream II be ordered to proceed with liquidation and dissolution. A proxy statement said if the merger with Sprinturf failed by Dec. 23, the officers would dissolve and liquidate Millstream within 60 days
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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quote:Originally posted by stocktrader22: Regardless... squire made the original find...thanks buddy!!! I called at .03 over this weekend letting everyone know based on T/A and the drop this is going up, and its at .044
Another big winner!
quote:Originally posted by stocktrader22: Read their filings..specifically the 10Q
They are very serious about making a business acquisition and that is actually the reason they IPO'd at $6.00 share. They raised 23million which they put in an investment trust and will use this for a merger. There is only 5,600,000 shares in the float. This is so undervalued at .03 it is not even funny.
quote:Originally posted by stocktrader22: Look at the movement last time when stochastics was below 20 and crossed...looks like it went from .15 to .35
I expect .07+ short term here.
Interesting how you changed your tune.
Looking to get back in?
quote:Originally posted by stocktrader22: I want to get back into this play, but I heard talks that someone was trying to get the warrants liquidated.
Bash it down, by posting news from 2 weeks ago?
Remember the guy in your news post, David Moskowski, is the VP of the rival company that MSMA was going to acquire. I doubt you'll ever hear from him again since the Shareholders voted against the acqusistion. He is the only one wanting MSMA to liquidate. A mere 100 share shareholder, who is VP of a rival company.
If you don't like it anymore why are you here? If anyone is going to get in, I'm sure they could quickly scan through the mere 4 pages of posts, or better yet (and wiser) to do their own DD.
As I said in the past, I'm up on it. Do I want it to go up more? Sure as hell I do. But I don't want anyone else in it unless they've done their DD.
-------------------- 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
Nope, not looking to bash it down. Was high on it and made some money, really liked it, until I dug deeper into the filings. Looks like the market knows I was correct. No need for me to bash it, giving a heads up on this one so people don't lose money. Good luck.
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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posted
I'm not here to taunt or say I told you so. Just wanted to let you know thats why I don't trust what the company says over the phone. In the filings it was pretty clear what was happening as a result of the merger not going through, and thats why I didnt see a bounce coming after the details were clear
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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posted
I couldn't understand the filing, so I called. Anyway I flipped the shares. I still think the warrants will rise once they annouce another acquisition, so I'll keep buying the shares at a penny and flip them after they peak.
-------------------- 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 the MMs' game -- they will take advantage of the confusion of the investors and take down the pps as much as they can, and when they have collected the majority of the warrants, they will raise the pps as much as it can go -- 10X or 100X. The pps may be down to 0.001 and then up to 0.2 -- the MMs have full control of it, we just have to wait and watch.
At 0.01, you can buy all the warrants with 50 K$ At 0.001, it's only 5 K$ Now you know why the PPS of MSMAW behaved so strangely. It's because the confusion and profit potential for the MMs. They have been short-selling from the top, and they are collecting shares at bottom. When it's done, they will bring the pps up to unload their inventory. Just give them 6 weeks. This game is for gamblers, not for investors. If you don't like the risks, please stay out of this table. Thanks.
posted
I keep flipping this to get free share and profit. Today was a great day!!!
-------------------- 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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-------------------- 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 peice of crap needs to go back to .03!
-------------------- *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
Man, piece o' crap is awesome for flipping. I'm up 100%.
-------------------- 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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