I got the HUD for my Tulsa property today and, surprisingly, I didn't find any errors on it! I think that's a first! Assuming it's okay with the seller, we're going to move the closing up to Monday instead of the 28th.
On another note, another one of my arbitrage plays paid off today. Picked up 20 shares of HQSM back in December for 21 cents a share, got reverse split down to 1 share, received my 99 round up shares today to bring me to 100 shares, and I sold at $6.41. Including commissions, that's a profit of $622.79 in 79 days and and annualized ROI of 25,645%. Unfortunately, these arbitrage plays are getting harder to find. I haven't found any since the first of the year.
Thursday, February 22, 2007
Rental #1 Closing On Monday
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I'm waiting for the next arbitrage play. Just funded my trading account and want to give it a try. Please post next time this come up. Or if you don't mind letting us know how you locate these deals that would be great.
Thanks,
Mike
Shaun,
I've been searching and that one(HQSM) I must have missed. Your correct though they are not as easy to find right now. The others that I had are up to a good amount. PAQN and VNUN.
I found HQSM back in December. I've posted how I find these deals here.
There are several other roundup opportunities available now.
I've only found one - Duska.
Out of curiousity, where are you finding these?
I followed you on that one that turned into China Gas (or something like that), and was pleasantly surprised (Hey, it was only like $200 I made, but the whole concept was new to me and I had fun with it)...
Follow the link in my comment at 5:19 PM yesterday.
Did anybody get in on the EESC reverse split? It split a while ago but I haven't seen my new shares and there has been absolutely 0 volume for the last several weeks.
The original symbol was USPO. This split and became EESC. I do not believe there will be any extra shares awarded. If you read the 14C filing carefully, you'll see it says the Board of Directors "may" elect to provide special treatment. It is my guess they elected not to. I have 10 shares of EESC from the split and I have had a limit sell order on it for about a month with no takers.
Hmmm, I bought 10 shares in one account and 8255 shares in another. By holding 8255 shares one should be rounded up to 100 post-split shares. I was basically hedging my bet that at least one of the two scenarios would work.
see below:
"shareholders holding 16,510 or fewer shares of Common Stock, but at least 8,255 shares of Common Stock, will receive 100 shares of Common Stock after the Reverse Split"
But the sentence you quote starts: "In the event our Board determines to provide such special treatment,..." Therefore, if the Board decides not to give special treatment, they don't have to do the rest of the sentence. But I am assuming this is what the Board decided. Feel free to call the company's transfer agent to ask for yourself.
My GTC order to sell 10 shares of EESC was partially filled today. I sold 2 shares at $5. I've got 8 left. I screwed up and did not put the "all or none" qualifier on my order, so I'm going to get charged two commissions for this when the rest finally sell.
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