3SOF

http://www.sec.gov/Archives/edgar/data/93631/000109489107000170/xslF345X02/edgar.xml

1,130 shares compensation to a Director.  At least he's not selling.

MSI is recovering from lows 

Quote from: buddjas1 on April 05, 2007, 09:16:44 AM

Quote from: David Randolph on April 05, 2007, 05:18:20 AM
You're a bit nervous on MSI, aren't you buddjas1? Perhaps you're overweighted the stock ...

No, I'm diversified.  I just don't like being down 30%.  I thought cheerleading would help.

Yeah, I don't like it either. Down 24% on MSI now. Still waiting for FOH's details to hopefully derive some long term estimates that show us the value. In the meantime I'll keep holding MSI. Let's just check www.fredericks.com today.

Slowly but surely MSI is coming back to its equilibrium point, which I believe is around $2.6 - $2.8.

But the expected FOH details, to be known this month, can change everything. I believe FOH has a better financial situation than what the market is pricing and MSI will shoot to new highs above $3.5 after the news is out.

Hopefully the news will be specific enough for me to apply the new valuation model to the combined company. We'll see about that.

I'll keep holding MSI.

Not sure if this means anything or not, but an insider just bought some shares @ $2.36 on April 7th

http://finance.yahoo.com/q/it?s=MSI

http://biz.yahoo.com/bw/070410/20070410006065.html?.v=1

Looks like merger is still in the works, except closing later than I initially thought:

"Mr. Cole also has agreed to serve as the Executive Chairman of the combined company, subject to approval by the Movie Star shareholders of the transactions contemplated by the merger agreement and the closing of the merger in accordance with its terms, which is expected to occur in the third calendar quarter of 2007."

Quote from: buddjas1 on April 10, 2007, 04:09:49 PM
http://biz.yahoo.com/bw/070410/20070410006065.html?.v=1

Looks like merger is still in the works, except closing later than I initially thought:

"Mr. Cole also has agreed to serve as the Executive Chairman of the combined company, subject to approval by the Movie Star shareholders of the transactions contemplated by the merger agreement and the closing of the merger in accordance with its terms, which is expected to occur in the third calendar quarter of 2007."

Is that why the stock closed down?

Quote from: dragonamg on April 10, 2007, 04:27:02 PM
Is that why the stock closed down?

Better not be, as the press release was not issued until after 4pm. 

I think that MSI is just acting like MSI; all over the place.

Quote from: buddjas1 on April 10, 2007, 04:31:35 PM

Quote from: dragonamg on April 10, 2007, 04:27:02 PM
Is that why the stock closed down?

Better not be, as the press release was not issued until after 4pm. 

I think that MSI is just acting like MSI; all over the place.

The stock is up 7% after hours as I check on Yahoo now, so if nothing else there doesnt seem to be a negative reaction to the news. 

2.30     54700    AMX 17:03:45
2.461   300        NDD 16:13:20

That's a lot of shares at 2.30, after hours. 

Quote from: buddjas1 on April 10, 2007, 05:57:20 PM
2.30     54700    AMX 17:03:45
2.461   300        NDD 16:13:20

That's a lot of shares at 2.30, after hours. 

Where do you find that information?  forgive my ignorance... I'm new to this stuff.

Quote from: dragonamg on April 10, 2007, 01:37:48 AM
Not sure if this means anything or not, but an insider just bought some shares @ $2.36 on April 7th

http://finance.yahoo.com/q/it?s=MSI

Good find, though unfortunately its a small buy and I have more shares than that buy lol.  The 3SOF position is probably 10 times that buy too.

fyi (continue to hold  cheers Oliver):
Movie Star Director to Lead Merger
Tuesday April 10, 6:27 pm ET
Movie Star Director Peter Cole to Lead Company in Merger With Frederick's of Hollywood

NEW YORK (AP) -- Lingerie manufacturer and distributor Movie Star Inc. said Tuesday that one of its directors, Peter Cole, will lead the company as it completes a merger with Frederick's of Hollywood and work as executive chairman after the deal is finished.

Cole's appointment is subject to stockholder approval of the deal, which the company expects to close in the third quarter. The companies said in December they were merging in a deal that would give Frederick's shareholders 60 percent of the shares of the combined company.

The change means Cole will no longer be an independent director for the company, and will tip the board's balance so that it does not have an independent majority. American Stock Exchange rules stipulate that the majority of a listed company's board members must be independent and that only independent directors can serve on its committees.

To keep the balance, the company's chief operating officer, Saul Pomerantz and its chief financial officer, Thomas Rende, resigned their board positions effective immediately.

Movie Star shares lost 19 cents, or 7.6 percent, to close at $2.30 on the American Stock Exchange. In after-hours trading, the stock gained 16 cents to $2.46.

Quote from: dragonamg on April 10, 2007, 01:37:48 AM
Not sure if this means anything or not, but an insider just bought some shares @ $2.36 on April 7th

http://finance.yahoo.com/q/it?s=MSI

He didn't buy those shares, they were granted to him:

«1. Shares issued under the Company's Non-Employee Director Compensation Plan as compensation for services rendered to the Company during the fiscal quarter ended March 31, 2007 and based upon the closing price of the Company's common stock on March 30, 2007»

There were some news yesterday, but let's make it clear, this isn't the news we've been waiting for:

• Movie Star, Inc. Announces Peter Cole as Lead Director to Facilitate Closing of Frederick's of Hollywood Merger and to Become Executive Chairman of Combined Company Following Merger
Business Wire (Tue 4:01pm)

This press release will just have the impact of reassuring everybody that the merger will indeed happen, as they're making all the necessary changes and appointments. The press release also delays the merger from Q2 to Q3. This may have a bit of a negative impact due to impatient investors.

The news we've been looking for are current financial details of FOH. We don't know when will they be released, there were some indications it could be this month, but maybe it will take some more time.

No problem for me, as I have patient to wait for a big winner.

Let's check www.fredericks.com today. I'll keep holding MSI.

As usually MSI has been all over the place yesterday, reflecting the two opposing feelings I thought would happen:

1) People buying because they now have more confidence the merger will go through. Also some people buying because yesterday was the first time they heard MSI+FOH story;
2) People selling because they got impatient due to the news of a delay in the merger's calendar, from Q2 to Q3.

But, maybe if we look at the volume traded of just 44,200 shares, we'll get to the conclusion that yesterday's news was pretty much irrelevant.

I'll have to keep waiting for FOH's financial details, expecting to profit from the more in depth study that I, buddjas1, la-onda and Michael, between others, made. My hope is FOH has a more or less clean and predictable financial picture, so we can derive long term estimates for the combined company.

I'll keep holding MSI.