"Well, it appears no one got a sweetheart deal, did they?"
Yes and no. All investing, no matter what it is in, is a gamble. (that's on the "no" side)
The PPM price of $0.01 per share was a bit less than 1/2 the market price at the time the Form D was filled out (March 3, 1999). That's pretty much normal. (this is on the "yes" side, but is offset by the low prices the first two weeks of April)
"3/03/1999-----.018-----.018-----.018-----.017------6,949,100"
The PPM investors have to wait a year. They have a certain amount of "discipline" forced on them by that fact. (this is the biggest "no")
Voluntarily enforcing that kind of discipline on myself is why I have not yet (yet!) lost one cent gambling in the pennies. Although, some of my stocks are not yet (yet!) worth very much....[I gave an example last week of one company I have a lot of shares in that trades on the Pinks. When I wrote that post, the bid was .50 per share. The bid is now $1.00 per share -- discipline has its rewards!!!] I can't (CANNOT!) lose any money if I refuse to buy high and sell low. So far it is working for me. It is a gamble, but not a blind one.
The only way in which their deal was any kind of a sweetheart deal is the same way it was a sweetheart deal for anyone who bought stock anytime between Jan 1, 1999 and April 15, 1999 -- those people are still in the profit zone if they did not sell their shares!
But you are correct, in the sense that the big liar wanted everyone to believe it was a sweetheart deal, it certainly was not.
hope this helps
PCM
GO PABN!!! |
