DOVP.PK: Delisted but playable?

[gambler2075]

Excellent. Looks like dovp will avoid BK (which the stock is already priced for) although there will be dilution (which I expected)... however, the company will have no debt.  Jan 16th or 17th will be a very interesting day, although I forsee a runup up until that point.

I have 70k shares just under 30c, and my bro is in for 300,000 shares at 25cents. He was also the one that bought 180,000 shares of cpnlq.pk at 0.30 and sold most at 1$+.

http://biz.yahoo.com/prnews/070103/nyw076.html?.v=80

"It is also contemplated that, in connection with the restructuring, holders of DOV's outstanding common stock would receive warrants to purchase additional shares of common stock constituting approximately 20% of the outstanding equity of DOV after giving effect to the exchange offer. In general, the exercise price for the warrants would be set so as to effectively provide the holders of the preferred stock with investment value equal to the principal amount of the debentures not returned in cash in the exchange offer."

g

[gambler2075]

Note that the above quote is not set in stone... it is an "ad hoc" agreement with 67% of the bond holders, and I may not actually come true... although I am betting that it will. I think the reason why the stock has not absolutely exploded here is that traders are waiting to see if it actually comes true before buying. However, I believe that the moment the pr hits the wires, this stock will gap up significantly.

g

[gambler2075]

Sweet. Anybody else still in?
long 70k shares from 29-30c...
bro is now long 350,000 shares from 25 cents.

target 1$ after they say they avoid bk...
that is the only thing holding this back, imo

g

[gambler2075]

damn punks shook me out. sold 70k at 37 cents, +5k$.

g

[dwest718]

I've still got around 3500 shares.  Not quite sure what today's restructuring deal means for the stock price.  I know it means that DOVP will not go bankrupt but other than that I am not sure.   Can someone help me out?  Below is the link to the article on Yahoo about the deal.

http://biz.yahoo.com/prnews/070125/nyth080.html?.v=81

[dwest718]

Anyone in on DOVP?  Anyone able to trade it today?  I see trades going through but for some reason Scottrade is not letting me trade it today.