Auric - They effectively bought 1.8 million shares that cost them $11 per share, with 200,000 warrants (not exactly tons - but they do mean an extra $2.5 Million to the treasury if exercised) exercisable at $12.26 per share down the road. And, contrary to your false statements, the company isn't using the $$$ for "burn" (operating expenses) - it's using the $$$ to accelerate the development of UTTC's other trading systems (eAS and eOX) and to bring eMC to market. It's development capital. FWIW, I'd rather see institutions put $20 Million into the company than trade into the stock, because the money will drop straight to the bottom line. As for your assumptions regarding the "additional share purchase option" -- where did you get those from?? The 8K describing the private placement in detail isn't being filed with the SEC until next week. If you have more specific information, what is it?? Otherwise STFU until you (and we)
have a chance to review and digest the 8K.
Your statement that this is the "same old ASTN crap" is preposterous -- this equity infusion could not be more different from the last one. Anybody with half a brain will agree that the 1998 equity infusion was dilutive - very dilutive - I have said it here and on Yahoo more than few times -- the equity was obtained because circumstances in 1998 dictated either raising money or going under. Where you and I differed (aside from everything you have ever posted to this board) was simply that I did not view the convertible preferred issued in 1998 as "floorless", whereas you (falsely) stated countless times that it was. In the meantime, the floorless death spiral you predicted a year ago has yet to occur, the conversions of Class E preferred are over and done, the stock is at $10 (+ or -) and fresh institutional money is in at $11 per share.
In short, the company has shown that it is able to raise money needed to accelerate the roll out of newer systems at 110% of today's market prices ($11 per share), without paying huge fees to attract the new $$$$ -- why? Answer: Because the market and institutional investors know that there is tremendous short term and long term potential upside and relatively little short term risk. You are missing it - you assume because ATG is not a big Wall Street name, and is not backed by the same 10 companies whose names show up behind every new trading system, that it is never going to amount to anything. And on that, only time will tell - but it is clear that you have no more insight into ATG as an investment than any of the other companies you have disparaged unfairly and for your personal benefit.
Lastly - as to the "disingenuity" of Fred selling while the PP was pending, once again, you need to get your facts straight. Fred's sales preceded the private placement by about a month, were on the table before the PP and were closed before the PP (his 144 was filed months ago), and represent only a small %% of his beneficial interest (150,000 shares, 50,000 warrants out of 1.7 Million shares beneficial and 150,000 warrants owned by or under option to Fred or his controlled entities). I'll bet the farm Rose Glen was totally aware of it, and could have cared less - only a short with an agenda would make as big a deal about Fred's sale as you have.
Save your insults for the lowlifes who take your posts seriously. They deserve to be insulted if they follow you down this road.
MST |
