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Post by magnus123 on Feb 2, 2021 10:36:37 GMT
It absolutely makes sense when you a look at liquidation value of $28.50 and conversion price of $2.85. It's sadly not a typo, in my opinion... I need to re-look at it but I trust your opinion. Contemplating getting out here pre-market. Not worth the risk. I really hope that i'm wrong... but it makes simply no sense in another way.
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Post by magnus123 on Feb 2, 2021 10:57:14 GMT
I wonder why the stock is up in pre market trading. Either they can't read or nobody cares about the conversion or we are wrong... I sold some shares for $4.44, but it will be difficult to liquidate my position now. I need more volume to sell it.
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Post by JHam on Feb 2, 2021 11:40:27 GMT
I need to re-look at it but I trust your opinion. Contemplating getting out here pre-market. Not worth the risk. I really hope that i'm wrong... but it makes simply no sense in another way. I just came home and looked at the 10Q. You are right about the conversion price. Shit. If the Series D and Series E Preferred Stock had been converted to common stock as of September 30, 2020, 17,020,100 and 1,315,790 shares of common stock would have been issued for the Series D and Series E Preferred Stock, respectively, which would have increased our outstanding shares of common stock from 5,242,558 to 23,578,448. Both the Series D and Series E Preferred Stock remain outstanding as of September 30, 2020 and as of the filing of this Report. The Company intends to file a new listing application with the NYSE American as soon as possible upon satisfying the initial listing standards. Among other requirements, these standards require the Company to have at least $15 million of non-affiliate public float, which, under the Company’s current financial situation, may be difficult or impossible for the Company to satisfy.
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Post by magnus123 on Feb 2, 2021 11:47:43 GMT
I really hope that i'm wrong... but it makes simply no sense in another way. I just came home and looked at the 10Q. You are right about the conversion price. Shit. If the Series D and Series E Preferred Stock had been converted to common stock as of September 30, 2020, 17,020,100 and 1,315,790 shares of common stock would have been issued for the Series D and Series E Preferred Stock, respectively, which would have increased our outstanding shares of common stock from 5,242,558 to 23,578,448. Both the Series D and Series E Preferred Stock remain outstanding as of September 30, 2020 and as of the filing of this Report. The Company intends to file a new listing application with the NYSE American as soon as possible upon satisfying the initial listing standards. Among other requirements, these standards require the Company to have at least $15 million of non-affiliate public float, which, under the Company’s current financial situation, may be difficult or impossible for the Company to satisfy.Damn. This is disastrous. I hope that we will get some buyers before market open...
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Post by vzveteran on Feb 2, 2021 11:50:53 GMT
I sold off half of my holdings yesterday. Hope for the best premarket.
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Post by vzveteran on Feb 2, 2021 12:02:56 GMT
I'm out. When the dust settles I'll have another look.
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Post by JHam on Feb 2, 2021 12:06:28 GMT
I sold off half of my holdings yesterday. Hope for the best premarket. Wow, nice call. I had my finger on the sell button but decided to wait a little longer. The more I think about it, the more it all makes sense. I bet anything someone advised them to forget the NYSE, go straight to the NASDAQ, and to hold off on the Mezzanine cloud offering in order to time it with the switch to the NASDAQ. I would be shocked if they don't make a huge splash with the Mezzanine cloud offering on the same day as the switch to NASDAQ. I mean, read the language in the PR: "...As we expand to a hybrid cloud delivery powered by our pending Mezzanine SaaS offering, Oblong’s Nasdaq listing will help us deliver increased long-term value to our shareholders."It is going to act like an IPO, which will be great for those who are getting in then, but sucks for us. I was just able to shave a tiny bit of my shares off pre-market, but like Magnus said we need more volume.
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Post by magnus123 on Feb 2, 2021 12:09:18 GMT
Selling now and come back after the NASDAQ listing or close before could be interesting.
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Post by magnus123 on Feb 2, 2021 12:13:32 GMT
I sold some shares at 7 am. Sorry for suppressing the share price. But at this point, i can't risk to hang here in the low 3s with a position size that i have relative to my portfolio, if that happens. Who knows, today might be even green.
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Post by vzveteran on Feb 2, 2021 12:13:59 GMT
I sold off half of my holdings yesterday. Hope for the best premarket. Wow, nice call. I had my finger on the sell button but decided to wait a little longer. The more I think about it, the more it all makes sense. I bet anything someone advised them to forget the NYSE, go straight to the NASDAQ, and to hold off on the Mezzanine cloud offering in order to time it with the switch to the NASDAQ. I would be shocked if they don't make a huge splash with the Mezzanine cloud offering on the same day as the switch to NASDAQ. I mean, read the language in the PR: "...As we expand to a hybrid cloud delivery powered by our pending Mezzanine SaaS offering, Oblong’s Nasdaq listing will help us deliver increased long-term value to our shareholders."It is going to act like an IPO, which will be great for those who are getting in then, but sucks for us. I was just able to shave a tiny bit of my shares off pre-market, but like Magnus said we need more volume. I think you're right about them waiting for the switch, makes total sense. What threw me was the head fake private placements. I was like ok, they are limiting dilution, got a great product, then they pull this.
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Post by magnus123 on Feb 2, 2021 12:17:50 GMT
Wow, nice call. I had my finger on the sell button but decided to wait a little longer. The more I think about it, the more it all makes sense. I bet anything someone advised them to forget the NYSE, go straight to the NASDAQ, and to hold off on the Mezzanine cloud offering in order to time it with the switch to the NASDAQ. I would be shocked if they don't make a huge splash with the Mezzanine cloud offering on the same day as the switch to NASDAQ. I mean, read the language in the PR: "...As we expand to a hybrid cloud delivery powered by our pending Mezzanine SaaS offering, Oblong’s Nasdaq listing will help us deliver increased long-term value to our shareholders."It is going to act like an IPO, which will be great for those who are getting in then, but sucks for us. I was just able to shave a tiny bit of my shares off pre-market, but like Magnus said we need more volume. I think you're right about them waiting for the switch, makes total sense. What threw me was the head fake private placements. I was like ok, they are limiting dilution, got a great product, then they pull this. Correct. And it's also clear now, why we had all the selling pressure over the last weeks.
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Post by JHam on Feb 2, 2021 12:52:54 GMT
Wow, nice call. I had my finger on the sell button but decided to wait a little longer. The more I think about it, the more it all makes sense. I bet anything someone advised them to forget the NYSE, go straight to the NASDAQ, and to hold off on the Mezzanine cloud offering in order to time it with the switch to the NASDAQ. I would be shocked if they don't make a huge splash with the Mezzanine cloud offering on the same day as the switch to NASDAQ. I mean, read the language in the PR: "...As we expand to a hybrid cloud delivery powered by our pending Mezzanine SaaS offering, Oblong’s Nasdaq listing will help us deliver increased long-term value to our shareholders."It is going to act like an IPO, which will be great for those who are getting in then, but sucks for us. I was just able to shave a tiny bit of my shares off pre-market, but like Magnus said we need more volume. I think you're right about them waiting for the switch, makes total sense. What threw me was the head fake private placements. I was like ok, they are limiting dilution, got a great product, then they pull this. Yup. Man, sometimes I disappoint myself. The writing was there on the wall all along. Oh well, love and learn. This could pull a CLSK and run to $20 today and I promise not to regret it (looking in the mirror as I say this) P.S. just dumped all of my shares.
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Post by jamesjohnson12 on Feb 2, 2021 13:16:23 GMT
Just dumped for a small loss. Wish I had waited...I just started a position late last week.
If OS increased from 7.75mm to ~26mm, shouldn't share price drop to ~$1.30?
Previous OS was 7.75mm at a market cap of $34mm ($34mm/7.75mm = $4.30 share price). New OS = 26mm. Market Cap of $34mm/26mm = $1.30/share price?
Or, were the preferred already creating a discount on the original market cap, so the effect of the conversion was somewhat baked in already? If this drops hard, I may be tempted to make a significant purchase here in anticipation of run up to uplisting and anticipated news release.
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Post by lcd on Feb 2, 2021 13:26:03 GMT
I was busy with work this morning and just seeing this news now. Thanks for posting JHam. I am unloading some of my shares pre-market, but I am not ready to do so for under $4. I might regret it but will likely enter regular trading hours with a fairly large number of shares.
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Post by JHam on Feb 2, 2021 13:36:07 GMT
I was busy with work this morning and just seeing this news now. Thanks for posting JHam. I am unloading some of my shares pre-market, but I am not ready to do so for under $4. I might regret it but will likely enter regular trading hours with a fairly large number of shares. As crazy as the market has been these days, I honestly wouldn’t be surprised if it ends the day in the green, lol.
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Post by magnus123 on Feb 2, 2021 13:36:41 GMT
Just dumped for a small loss. Wish I had waited...I just started a position late last week. If OS increased from 7.75mm to ~26mm, shouldn't share price drop to ~$1.30? Previous OS was 7.75mm at a market cap of $34mm ($34mm/7.75mm = $4.30 share price). New OS = 26mm. Market Cap of $34mm/26mm = $1.30/share price? Or, were the preferred already creating a discount on the original market cap, so the effect of the conversion was somewhat baked in already? If this drops hard, I may be tempted to make a significant purchase here in anticipation of run up to uplisting and anticipated news release. Well, the preferreds were on the balance sheet. If the company would file for bankruptcy, the preferred owners would get everything before the common stock holders. It's like a sort of debt and with that being erased, the market cap should be the actual + the converted "debt". The conversion price is $2.85. Not unlikely that we will see something near that - maybe low 3s. But we could see anything today. Maybe the market doesn't care and the stock will rise. Thats the question.
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Post by jamesjohnson12 on Feb 2, 2021 13:47:52 GMT
Just dumped for a small loss. Wish I had waited...I just started a position late last week. If OS increased from 7.75mm to ~26mm, shouldn't share price drop to ~$1.30? Previous OS was 7.75mm at a market cap of $34mm ($34mm/7.75mm = $4.30 share price). New OS = 26mm. Market Cap of $34mm/26mm = $1.30/share price? Or, were the preferred already creating a discount on the original market cap, so the effect of the conversion was somewhat baked in already? If this drops hard, I may be tempted to make a significant purchase here in anticipation of run up to uplisting and anticipated news release. Well, the preferreds were on the balance sheet. If the company would file for bankruptcy, the preferred owners would get everything before the common stock holders. It's like a sort of debt and with that being erased, the market cap should be the actual + the converted "debt". The conversion price is $2.85. Not unlikely that we will see something near that - maybe low 3s. But we could see anything today. Maybe the market doesn't care and the stock will rise. Thats the question. 10-4, that definitely makes sense. Thank you for the elucidation.
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Post by lcd on Feb 3, 2021 21:25:27 GMT
Did everyone dump all of their shares yesterday? I only sold about 10% of my position so I am excited to see that the market is interpreting the move to NASDAQ differently than us. Do you think the 10Q has errors? Or has the market just not paid attention to the details in the 10Q?
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Post by vzveteran on Feb 3, 2021 21:46:59 GMT
Did everyone dump all of their shares yesterday? I only sold about 10% of my position so I am excited to see that the market is interpreting the move to NASDAQ differently than us. Do you think the 10Q has errors? Or has the market just not paid attention to the details in the 10Q? Congrats!. I think that a lot of retail investors don't look beyond the headlines. ST has been an Oblong pump for two days now. I posed a dilution question on the board and was ignored, except by our very own Jham. If I woulda held thru today, I would have recouped quite a bit of the loss I took. But I've been lucky on the other side as well. I'm not gonna chase this one atm though. I wrote Brett in investor relations and he did not respond "directly" to my post Nas share consolidation questions.
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Post by magnus123 on Feb 3, 2021 21:58:20 GMT
It was a smart move to not explain in the press release, what the conversion of the preferreds implicates for common stock holders. Retail doesn't look into the 10Q.
I will wait for clarification regarding dilution and then will look to buy back my shares. Timing was of course a b**** for all of us who sold yesterday.
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