I now hold the dubious distinction of starting a thread and having it come to an end all within a day on Friday the 13th.
With that said, consider yourself lucky you are slow on the draw. IHIN will not be trading Monday and after reading some arcane lore as well as KARA/IHIN's Form S-8, I question whether it will be trading anytime soon if at all.
The company business and representatives are one thing but this reverse acquisition and secondary offering, if you can call it a secondary offering, are another.
After reading Form S-8 it becomes apparent, the only ones who would make money off IHIN were the existing share holders of KARA, and the so called IHI stockholders and IHI option holders.
As the Plan was laid out in Form S-8, eight-six individuals and entities were destined to becoming millionaires, many of these multi-millionaires, when the price of IHIN hit its high yesterday of $34/shr. The Plan was obviously skewed towards the people behind it. And in that regard, the SEC was justified in its question regarding "the return investors could expect to receive on their investment."
Knowing individual sales reps within the company, as you expressed, one tends to assume the details are OK. I am guilty of that too.
Although chat lines and threads are criticized for misinformation and hype, the first information I received on trading being suspended was on this thread when John Reed Stark entered the room and turned the light on. In that regard, the thread provided a service.
I started this thread so I'll probably stick around and keep tabs on things. Maybe we can make this a learning experience.
As such, other comments are welcome. Kudos will be given to those who provide humor with their laments. |
