THis stock was on the bottom and dormant, this news just out is causing a flurry of activity.
So, far up 90%.
2005-10-20 13:56:01
Capital Solutions I, Inc. Rescission Effective, Cancellation of 30,000,000 Issued Shares
Business Editors
CORAL GABLES, Fla.--(BUSINESS WIRE)--Oct. 20, 2005--
Capital Solutions I, Inc., (OTCBB:CSON), announced on
October 19, 2005, Capital Solutions I, Inc. entered into and closed a
Rescission Agreement with Bedrock Holdings, Inc. together with each of
the Bedrock Shareholders and certain other individuals.
Pursuant to the terms of the Rescission Agreement a Share for
Share Exchange Agreement which had closed on May 16, 2005 was
rescinded. The Company previously reported the entry into the Share
for Share Exchange Agreement in a Form 8-K dated May 9, 2005 and the
subsequent closing of the transaction in a Form 8-K dated May 26,
2005.
Pursuant to the Rescission Agreement the thirty million
(30,000,000) shares of common stock which had been issued to the
Bedrock Shareholders and certain other individuals have been cancelled
and returned to the treasury. In addition, the Company has returned
its shareholding in Bedrock Holdings, Inc. The Company shall assist
with the filing of the necessary documents with the State of Florida
to reinstate Bedrock as a corporation in good standing. The company
now has 48,366,672 total issued shares, 41,500,000 restricted shares
and 6,866,672 free trading shares issued.
About Capital Solutions:
Until recently the company has been relatively dormant in search
of a merger partner.
Ok...my 3sf friends! I definitely don't want to sound like i am pumping...but i just read on another site that this stock only has 7million float! Now..i can't not verify this...but, if someone can...that would be great.
I did get in at .055...took a chance as i saw it react nicely upon the news....and its moving really well....not sure how high this can go..but, by the looks of it...higher!!!! :D
thank god i found a stock that i bought that is actually moving up!!!
good luck everyone!..just want to give u guys heads up..if anyone has any good info to supply that would be much appreciatedl..i have no idea how high i should let this go before i sell. :)
julia
Very intersting to say the least.
I have added this to my penny watch list.
Lets see how it reacts tomorrow.
In at .086, lets rock in roll!
Probably not going to hit .42 any time soon. However, .14 is very possible...
Hit .12 but I didn't get out until .105. Thought it had a chance to hit .14
Not willing to hold this overnight. Hope I don't wake up tomorrow and see this at .14 tomorrow.
Happy Trading,
cal
Hi Calven...u did well!
I sold half my shares at .105...want to see what tomorrow brings...better be good. ;D
julia
I still think it hits .14 before tanking....
Ok...that sounds great Calven!! ;D
I'll take that :D
thanks!
julia
Sorry, it says right in the news release how many shares are in the float.
Quote from: gmarc66 on October 20, 2005, 02:13:03 PM
The company now has 48,366,672 total issued shares, 41,500,000 restricted shares
and 6,866,672 free trading shares issued.
I didnt realize that free trading shares means float ??? :-[
So...due to the low float, that should be good for more tomorrow, right?
thanks
juila
The shares outstanding is not the same as the float. The float or "shares available for trading" as you put it is 6.8 million shares according to the press release. This basically means that 30 million shares were "reverse diluted" in common terms. This is a very positive sign for a penny stock. Most penny stocks severely dilute shares by issuing millions of shares. When shares are taken away from the float stock price can only rise...theoretically.
CSON has say 36.8 million shares in float previously at .0175 cents roughly speaking...
CSON now has 6.8 million shares in float meaning 30 million shares were absorbed...
It is stupid to put value in penny stocks because they are so speculative but here is my math:
36.8mill/6.8million = 5.4 (roughly)
Old share price should be multiplied by 5 since float was absorbed by 5 times...
5.4 x .0175 = .095 cents
Therefore I put fair value on these shares at .095. Implied value probably...
Please let me know if you agree or disagree with this math or my way of thinking on CSON...
I still think CSON will reach .14 tomorrow because of the huge momentum. However, I don't see this as a penny that will be running too much higher than .14 . The news really isn't significant enough to do so.... You were right though, CSON has a good chance to rise higher tomorrow based on the float. When people read that CSON was up 300% today they will foolishly buy up shares tomorrow without understanding the story. I predict a smaller run up tomorrow and then CSON being dumped...of course if my math is wrong none of the above applies.
Thanks,
Cal
Hi Calven....ummm...isn't that what I said ??? Free trading shares means float...which is yes., 6.8 million (almost 7 mil). :)
It sounds like u know what ur doing in calculating the new share price...you will have to ask someone else for verification....I'm not very educated in this stuff...sorry :)
well..bottom line..looks like tomorrow I will make a profit as long as this thing doesn't plummet from the start...hoping for alot more.
thanks for your reply,
julia
I was just summarizing what you said for others out there (float...) who maybe didnt understand. Looks as if CSON might make a small gap up - Bid .12/ Ask .125
I think the key here is to watch the first 30 minutes of trading. A weak opening past .08 and I would can this...