Posted On: 11/28/2012 1:08:17 PM
Post# of 9903
I don't think so.....did you see today's news? What about that JV, with $500m coming in to the company? Why would they instead arrange for a toxic financing deal?
something smells
terry_mathews
Wednesday, November 28, 2012 12:48:11 PM
Re: energy_wave post# 70041 Post # of 70082
So SRGE took 400 Million shares off the books by converting them into debt. Now the plan is to take more shares off the books by borrowing money (at a steep discount to market) to purchase shares in the open market to retire them. Sounds like a losing proposition to me. what ever happened to using the money you used for a bogus dividend ? Use the money frm all these profits they claim to be making? Use the proceeds from teh NYSE deal that will provide for a $105 Million dividend payout?
Magna is a toxic finance whore
bdogmike
Wednesday, November 28, 2012 1:17:13 PM
Re: None Post # of 70105
Concerns / Observations:
Why would a company touting a jv / buyout of 550 - 600 mill and possible .20 ($43 million)div need $5 mill in funding ? Especially from a company that has a history of some toxic activities. Maybe they need funds to continue operations? What is the re-payment plan / timeline if taken? Will they re-pay in shares since they don't have liquid funds and need $5 mill?
Why would they also express such when they are now receiving assay results? Would the prospective partner / buyer make any such offer without the assays being complete before talks? Maybe they were waiting on those results before continuing or relying on past results?
This pr did not match what they stated would be out by the 27th and draws more concern than confidence. Things can be held up sometimes, but they need to ensure they can meet dates / times they place on themselves.
They may well be on the up and up and I hope so for all investors / traders. They did pay out the small div as promised.
Will test the waters again myself in the .007 - .008 range if it comes. Holding well for now though considering all.
Best of luck to all........This is a penny and news is everything down here.
something smells
terry_mathews
Wednesday, November 28, 2012 12:48:11 PM
Re: energy_wave post# 70041 Post # of 70082
So SRGE took 400 Million shares off the books by converting them into debt. Now the plan is to take more shares off the books by borrowing money (at a steep discount to market) to purchase shares in the open market to retire them. Sounds like a losing proposition to me. what ever happened to using the money you used for a bogus dividend ? Use the money frm all these profits they claim to be making? Use the proceeds from teh NYSE deal that will provide for a $105 Million dividend payout?
Magna is a toxic finance whore
bdogmike
Wednesday, November 28, 2012 1:17:13 PM
Re: None Post # of 70105
Concerns / Observations:
Why would a company touting a jv / buyout of 550 - 600 mill and possible .20 ($43 million)div need $5 mill in funding ? Especially from a company that has a history of some toxic activities. Maybe they need funds to continue operations? What is the re-payment plan / timeline if taken? Will they re-pay in shares since they don't have liquid funds and need $5 mill?
Why would they also express such when they are now receiving assay results? Would the prospective partner / buyer make any such offer without the assays being complete before talks? Maybe they were waiting on those results before continuing or relying on past results?
This pr did not match what they stated would be out by the 27th and draws more concern than confidence. Things can be held up sometimes, but they need to ensure they can meet dates / times they place on themselves.
They may well be on the up and up and I hope so for all investors / traders. They did pay out the small div as promised.
Will test the waters again myself in the .007 - .008 range if it comes. Holding well for now though considering all.
Best of luck to all........This is a penny and news is everything down here.
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