RonZlats
11 years ago
Hi Ronnie,
CRBO was a longer process than I thought it would be and the results were mixed. The passt board of STLS did work hard on getting the best for the shell, and I have the highest regards for their dedication and skills. Eventually CRBO did reverse merge into STLS as you know, and I all board members resigned to put their directors at the helm, and I wish them the best of luck.
I see you are still around on other boards. For legal reasons I sort of had to abandon any public comments, but maybe I'll catch up with you on some of your favorites. Currently have a 6% position in PFHO - but not seeking a board seat there.
Hope you are well!
RonZlats
18 years ago
I've had a few do reverse mergers, and that's a pain, but, I usually don't trade on splits, so, it's not an issue. There is always a letter of transmittal that goes along with it. Forward splits are not an issue 2 for 1 etc. It's cumbersome, but, most of my stocks usually just collect dust :)
RonZlats
18 years ago
The certs being delivered help take them away from the broker who can use them to "hypothocate" or use them for anyone to short the stock. I hate those games, but other than having a pretty peice of paper, not much good comes from it.
The other problem with certs is that some brokers make you wait until the cert clears DTC so, there is always an issue selling the stock. You'll note that isn't a problem for me, because I usually keep my stock for a long time, which is why I don't mind paying extra today for something that I want to make sure I can own.
RonZlats
18 years ago
Hello Ronnie,
My stocks do have very low outstanding share counts, it's the only way to value a company if someone were to take one over. The other thing that I look for is no dilutive stock options or converting debt. Thus, when you buy shares, you know your percentage ownership won't change much over night. Basically, market caps of less than $10 million.
I've found it hard to find profitable companies at that level, though there are a few. So, a couple of these shells look interesting now.
I don't know anything more than anyone else on this one. I just liked the fact that the options were exercised at nearly double the price of the stock, meaning, there is some confidence in what is going on here.
I'll look at ZNNC for sure... I also filed a 13D on BMLS as well yesterday. Always looking for a turn around.
RonnieD
18 years ago
interesting. why has it gone up so much ? there's only 410,000 total shares ! They have had jv's for years with NY University to develop therpeutics and bio-hormone treatments.
On January 31, 2006, Mr. Joel Greenblatt, Chairman of the Company's Board of Directors,
exercised a warrant to purchase 16,667 shares of the Company's common stock at an exercise price of
$3 per share, which resulted in the Company receiving $50,001 in cash on such date as payment for
the shares.