pennypauly
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Re: the buzz 11/24 ->
« Reply #13 Today at 4:27pm »
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ty BHollenegg
Hello Andy, Gangusgreen, and All
Based on the Broker document information…
A mutual fund tender is being offered at a premium to the market price. The description of the tender offer is Entourage Shares for CMKX Certificate Holders. The tender offer is oversubscribed by 9 times. For each authorized share of CMKX, there are 9 times the amount of CMKX in the market.
In other words, 703.5 Billion Authorized Outstanding Shares multiply by 9 equals 6.3315 Trillion Shares of CMKX.
Therefore, 6.3315 Trillion shares were required to be covered at a premium determined to be the market price, which for a private company is a fair price determined based on the value determined by the company.
In conclusion...
This document confirms the naked short amount was known before the Certificate Pull. Recall, Urban was the second largest shareholder in a company, CSII, which specialized in monitoring and identifying naked shorting activities.
This document confirms Funds were collected. Shareholders will be more than satisfied with their compensation is what was conveyed to me.
Stay above the dark clouds and you will clearly see the Stars ...
Thank you,
BHollenegg
Based on the definitions referenced below…
Oversubscribed
A situation in which the demand for an initial public offering of securities exceeds the number of shares issued.
www.investopedia.com/terms/o/oversubscribed.aspTender Offer
An offer to purchase some or all of shareholders' shares in a corporation. The price offered is usually at a premium to the market price.
www.investopedia.com/terms/t/tenderoffer.aspMutual Fund
A mutual fund is a company that brings together money from many people and invests it in stocks, bonds or other assets. The combined holdings of stocks, bonds or other assets the fund owns are known as its portfolio. Each investor in the fund owns shares, which represent a part of these holdings.
www.sec.gov/investor/tools/mfcc/mutual-fund-help.htm« Last Edit: Today at 9:48am by BHollenegg »
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Today at 10:01am, mnwriter wrote:
Hi Bob,
I'm not the sharpest knife in the drawer, so it's no shock to me that I'm not following what you're saying.
Can you explain (in simple bunny rabbit language) how this proves funds were collected for CMKX? When I read it, I assumed it dealt only with Entourage.
Thanks Bob, and pardon my stupidity.
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by BHollenegg
The shares which were naked shorted shares had to be paid for by the ones responsible in order to have the shares converted to certificates. The letter states the stock was oversold by a mulitiplier of 9. George Stephenson, EXEC VP of the Owner's Group, confirmed that money was collected during the cert pull. Recall, the OG assisted with the share count. IMO, I feel this is how the DTCC ended up with the compensation funds.
Take care,
BHollenegg
« Last Edit: Today at 4:28pm by pennypauly »
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