Scottie99 wrote: Wow, makedonka, don't know what you are smoking thinking because someone bought a lot of cheap OBE, means he is not concerned about the SEC lawsuit.
Firstly, you need to understand he is buying a $12 stock for about $1, so the risk he is taking is already baked in for the cheap stock he is acquiring. He must have factored in the fact that the SEC fraud charge won't kill the company because companies sooner or later settle their legal liabilities, especially with Regulators. Moreover, the stock is already battered by the accounting fraud in 2015 and all the associated class-action lawsuits have already been settled.
Depending on how French handles the SEC lawsuit, OBE should be alright. If he chooses to fight it in court, he would incur a lot of legal fees and OBE would still end up paying the penalty with interest. So it is in OBE best interest for French to settle the SEC quickly and something tells me he has already started the process, and explains why there is no further news on the charge. The next news release would likley be that a settlement has been reached and OBE is in the clear. So the guy picking up OBE shares for cheap must have done his due diligence about the impact of the SEC lawsuit on OBE and figured buying the stock for very cheap now is worth the risk including the SEC fraud charge. Moreover, the accounting fraud has been gotten rid of from the company's books and the executives associated with it are no longer with the company.
Secondly, the guy might be buying the OBE shares because he wants a seat on the Board or take control of the company. So he is buying the stock for cheap now because he knows the opportunity might not present itself once the company is in the clear and the oil price crisis ends, two things that are about to happen sooner than later.
So don't make a big deal about someone buying OBE shares and not concerned about the SEC lawsuit because I can bet he would have considered all the factors. I would do the same if I was in his shoes.
makedonka wrote: "The company has an intriguing new investor. According to a new filing on EDGAR, Kernwood Ltd., a Toronto-based private investment company controlled by Ted Kernaghan, has acquired 27.6 million shares of Obsidian, or about 5.5 per cent of the 504 million shares outstanding. These include 2.8 million shares acquired from Sept. 22 to Oct. 13 at an average price of $1.32."
"The Kernaghan name has a long history in the Canadian capital markets"
https://www.stockwatch.com/default.aspx
How about that, Lose? Appears that he is NOT concerned about the SEC case... That makes him the largest shareholder of OBE.
Are you sore, Lose?
"Too funny"
Read more at https://www.stockhouse.com/companies/bullboard?symbol=t.obe&postid=26821557#6xuyQA1OyucH1Bsv.99