Funny thing...I just went back and read my buddies post where he mentioned the expansion gap in the stock and how GNNX would go back down to fill it for sure. I laugh at the messages that followed as replies to Russ...one guys even says that Buffet will load up on GNNX at 75 cents if it ever hits it again. ROFL!!!!
>>>>>>>>>>
Subject: Genesis Media Group, Inc (GNNX)
To: Russel W. Kennel
From: Mark[ox5]
Apr 26 1998 10:43PM EST
Reply #458 of 2932
I too would like an explanation of the stock O/S increase, and since you have been in
contact with the company for years, have you brought it up with them? Unfortunately
this seems to be a common ploy for these young companies. However, with all the
recent contracts this seems justifiable in MY mind.. we are getting something in return
for their additional funding. You have a relationship with the company longer than any
of us, so maybe you could drop a line to CEO and ask him for specifics...?
As for your gap theory, I think we filled a big gap Friday when we went back under
$2.00. I dont see it retesting the .75 area ever again. IMHO. I think you have a lot of
new investors in the stock who know the float and know the games, so they arent
going to let go of the stock with this much "potential" on paper.
The next step is keeping momentum.. I think we could basically settle in a trading range
for a while here as last weeks excitement dies down and the OTC-BB gang move to
the next "big kill" and leave the 'investors' here. Also, a lot of people will be wary to
invest in a stock that just made a 200% gain in a week. So I see us settling down in a
range somewhere in this area... unless more people learn about the stock.
We need to continue to do DD....
Mark
Subject: Genesis Media Group, Inc (GNNX)
To: Russel W. Kennel
From: Charger
Apr 26 1998 10:51PM EST
Reply #459 of 2932
This question was addressed in post #445.
As for GNNX shares O/S .. 10.9 would be the average of the year..that is how a
yearly EPS is done.. on AVERAGE shares outstanding for the year, so it could of
been 7M in the beginning of the year and 13M at the end of the year.
Don Logan has spoken freeley with me about the number of shares, tho I did not have
the 11 mill figure when I was talking to him about it. There are people who will be
speaking to Don Noble on Monday, I believe and we can clarify this, or you could call
yourself. Do you need the number?
Charger
Subject: Genesis Media Group, Inc (GNNX)
To: Russel W. Kennel
From: gambler
Apr 26 1998 11:29PM EST
Reply #460 of 2932
Further, I am sticking to my "gap" theory, and am wondering when we will see
trading at or below the $.75 price.
I'm sorry to say, but I believe this stock will be the "gap" in your "gap theory."
We can only hope that you are correct in this though. With a stockholder's equity of
$47,105,829 divided by 21,000,000 shares outstanding this baby has a book value
per share of $2.24. Buffet, Lynch, Graham, and Dodd would all load up on this baby
at .75. Hell this will give us all a second chance to back up the trucks and LOAD
UP!!!!!! Then we can all join Boob on his Yaht.
Gambler
Subject: Genesis Media Group, Inc (GNNX)
To: Russel W. Kennel
From: Chris O'Keefe
Apr 27 1998 9:07AM EST
Reply #468 of 2932
Further, I am sticking to my "gap" theory, and am wondering when we will see
trading at or below the $.75 price.
Personally, I'm intrigued by the gap theory concept and am keeping my eyes open to
check it out. Still, here is a reason the theory may not hold true in the case of GNNX
at 0.75/share. Remember that the gap occurred at a time of excitement for the $60M
contract. The stock did not get a chance to rest, however (and give the gap theory a
chance to prove itself), because, boom!, just like that news is out that there is a
$120M contract.
This extraordinary one-two punch of good news, in my opinion, is reason that the gap
theory should not be applied in this case.
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