Novus Energy Inc NOVUF

warrants to be called in about ten days

[pennydredful]

If  the stock  holds above  1.20   for  about  ten more  days   about  50  miilion  warrants   exercisible  at  .75   will  be called and  the stock  will  crap out  .  Sell  now   and  re buy  when   the big  supply   comes off the  warrants  being forced to exercise.

[ahyiban]

what facts are these coming from?

[ardvark11]

As of september 30, 2010 there were:26,306,000 warrents outstanding at .75 and expiring in mar 31, 2012.  By now, you would expect that most of them have been converted and seeing the drop in share price and higher share volume, the rest are being exercised.  The warrent term is below, so the poster is saying the truth other than the number of warrents."The term of the Warrant is 36

[ardvark11]

I suspect that the warrents won't be called.  Companies call warrents when they need working capital.  Novus doesn't need it as shown below.   funds flow from ops + debt is $59,000,000 which equals the capital expenditures. They probably assumed they would get some of the money from the warrents anyway since they expire March 2012.  Novus has great management

[TTSB]

ardvark.....they short than cover with warrants....cheers Feb 02/16/11 0.40 465,000.00 Feb 02/01/11 1.30 1.25 M Jan 01/17/11 0.20 180,800.00 Jan 01/04/11 1.30 1.96

[TTSB]

February 1, 2011 Ticker Symbol (TSX-V) NVS Recent Share Price $1.24 Shares Outstanding (Basic) 167.3 million

[TTSB]

1 million warrants exercised as of feb 1st.....question here is how many shorts end of feb will determine how many more they will cover with....cheers

[ardvark11]

Where r u geting short interest report from?

[TTSB]

https://www.dailyfinance.com/company/novus-energy-inc/nvs/van/short-interest Previous 12 Months Short Interest: NVS Data as of 02/16/11 Date Ratio Shares Feb 02/16/11 0.40 465,000.00 Feb 02/01/11 1.30 1.25 M Jan 01

[ardvark11]

Thanks,Looks like 2.6 million shorts covered by warrents.  That's almost 2 million dollars to Novus so they have already made up all the cash they need for their capital program.  No need to call in the warrents, no point as they expire in march 2012 anyway and if the sp stays above 1.20 which is a no brainer given all the drilling they are doing (only issue is fracs). 

[TTSB]

they wll continue to short all of them on strength...cheers