RE: RE: RE: Wall on the ASK It's interesting to observe how quickly one's sentiment can change:
~ 2 weeks ago...
12/16/2011 6:26:25 PM | | 227 reads | Post #30468218
By March 1st, count on it. They will do a PP for 10 mil shares @ 1.50 for gross proceeds of $15 million along the way. This will give them a market cap of $300 million the same as AAA at the time accept AAA share price will be only $1.50 per share because of all their shares outstanding. Thats my Prediction.
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=FED&t=LIST&m=30468218&l=0&pd=0&r=0
12/18/2011 6:10:49 PM | | 240 reads | Post #30470759
Did you guys know that George Roach owns 13,400,000 shares, 13.5% OF THE TOTAL, and better than that the next largest shareholder is Sprott Asset Management which owns 9,000,000 shares, 9% OF THE TOTAL, in two funds, Sprott Investment Fund and Sprott Small Cap. Fund plus they also own 4,800,000 warrants.
Between Management and Sprott Asset Mangement they own 23% of the entire company. I would say that we are in good hands here boys with Management's interests aligned with ours and the smartest money on the street (Sprott) owning 9%.
Oh and by the way Sprott owns 19% of South Boulder and 0% of Allana.
GLTA
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=FED&t=LIST&m=30470759&l=0&pd=0&r=0
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My thoughts...
The decline in the share price during the last 30 days can be attributed to the "risk off" sentiment in the marketplace and tax-loss selling from one or more entities under the guise of Anonymous (i.e., Broker #1) imo. A total of 7,342,017 shares have been traded in the last 30 days. There have been 21 trading days in the last 30 calendar days. Of these 21 trading days, 11 were up days, 6 were down days, and 4 were neutral days for the share price. During this same period of time, the S&P TSX index was up 11 days and down 10 days.
The insiders/investors from the reverse takeover are still locked up (i.e., restricted from selling) and there's almost no record of insider selling in the last 12 months. The float currently stands at 65,857,280 shares (Total outstanding: 108.637,226; Escrow Shares: 42,779,946). The average daily trading volume has been 260,451 shares over the past 3 months. The all-time high of $1.27/share was achieved on March 30, 2011 on volume of 7,012,158 shares. At the current share price of 52 cents for FED and 80 cents for AAA, FED has ~1/3 of AAA's market cap based on the total number of shares issued and outstanding for both companies.
| SEDI Insider Trades |
|
Last 3 Mo |
Last 12 Mo |
| Number of Insider Trades |
0 |
3 |
| Number of Buys |
0 |
2 |
| Number of Sells |
0 |
1 |
| Net Activity |
0 |
10,000 |
Source: https://www.quotemedia.com/results.php?qm_page=29139&qm_symbol=FED:CA
Info regarding the RTO:
Ethiopian Potash Corp. completes reverse takeover of and amalgamation with Panorama Resources
Lawyers Sanjay M. Joshi, Evelyn Li, Seemal Patel, Andrea Brewer, Bruce Sheiner
On March 9, 2011, Ethiopian Potash Corp. (EPC) completed a reverse takeover (the RTO) of and amalgamation with Panorama Resources Ltd (Panorama) and commenced trading on the TSX Venture Exchange (the Exchange) on March 11, 2011. The common shares (Common Shares) and warrants (Warrants) of EPC are listed on Tier 2 of the Exchange under the symbol "FED" and "FED.WT", respectively.
Concurrently with and as a condition to the completion of the RTO, on March 9, 2011, EPC also completed the closing contemplated under the option agreement (the Option Agreement) between EPC, G and B Central African Resources Ltd. (G&B) and the shareholders of G&B. As a result, EPC was granted an option to acquire all of the issued and outstanding shares of G&B and thereby acquire G&B's 100% interest in certain mineral property permits in Ethiopia known as the "Danakil Potash Permits." In connection with the closing of the Option Agreement, an aggregate of 41 million Common Shares was issued.
Prior to the RTO, on February 10, 2011 EPC completed an offering (the Offering) of 22 million subscription receipts (Subscription Receipts) at a price of
.50 per Subscription Receipt for gross proceeds of $11 million. In connection with the RTO, the net proceeds of the Offering were released to EPC and each Subscription Receipt was ultimately exchanged for one Common Share and one Warrant. BayFront Capital Partners Ltd., Salman Partners Inc. and Fraser Mackenzie Limited (the Agents) acted as agents for the Offering.
EPC was represented by Ogilvy Renault LLP with a team that included Sanjay Joshi, Evelyn Li, Andrea Brewer, Seemal Patel and Bruce Sheiner.