How much due diligence would you have to do if someone offered to buy your house for 1ox's more than its worth? I'd be selling the house on the spot, no sense waiting for the idiot to change his mind. Today THRR stated they are now "starting due diligence phase" and the next phase will be the starting final document phase. This offer has been known since March 9th and you are just starting this now? Give me a break!
THRR has a supposed offer from some yet unnamed entity, person, alien.... the company has yet to relay this important information so we can only speculate who has the money to buy over 10 billion shares for $.01. This same person is spending millions of dollars on a company, that per its last unaudited quarterly results, lost over $400k and boasts total assets of a little over $400k. How that warrants a 1,000% premium and a purchase price in the millions is beyond me.
With the company losing the equivalent of their entire assets each quarter I'd think it was more likely they'd be filing for bankruptcy protection, not getting bought out.
Thresher Industries Confirms Offer for 100% Sale of the Company PR Newswire "US Press Releases "
HANFORD, Calif. , March 26 /PRNewswire-FirstCall/ -- Thresher Industries, Inc. (Pink Sheets: THRR), issued a statement today from CFO Roger Rowell to clarify numerous inquiries regarding the sale of the company as discussed in its March 24, 2010 conference call.
"I would like to thank everyone who attended the call, and for your positive feedback and continued support. We believe our decision to move forward with the sale of Thresher is in the best interests of our shareholders," said Mr. Rowell. "After the call, we received numerous inquiries regarding the use of term 'mini-tender offer.' I apologize for any confusion this has caused and would like to clarify that the offer we received was unequivocally to buy 100% of the issued and outstanding shares of Thresher Industries for $0.01 per share.  We are now starting the due diligence phase of the process and once that is complete the next phase will be the finalizing of all documents necessary to close this transaction; which could be as soon as April 10, 2010 . We will continue to update everyone on the process."
About Thresher Industries, Inc.
Thresher Industries, Inc. is a leading manufacturer of low carbon footprint conventional and custom machined die castings made from 100% recycled aluminum and metal matrix composites. Based in Hanford, California , the Company operates an ISO 9000-compliant, "green" foundry that integrates bio-degradable technologies and processes to lower the economic and environmental costs of production. Thresher offers full engineering support, designing, and prototype development to a variety of industries including: agriculture, aerospace, defense, transportation, and automotive in the U.S. and Europe . For more information, visit http://www.thresherindustries.com.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
Contact: Thresher Industries, Inc. Tel: 559.585.3400 www.thresherindustries.com info@thresherindustries.com
SOURCE Thresher Industries, Inc.
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4 comments:
Only 1.41B shares outstanding, not 10B as you state.
There are @ 11.5 billion shares outstanding. Call the TA there chief.
Reminds me of the PGYC scam (eerily similar). I knew it was a scam, but I flipped it for some profit anyway. People always want to win the lotto and become ridiculously blind to the obvious. PGYC ended up being suspended by the SEC...tread carefully folks.
THRR is reminiscent of one of my favorite books, "Atlas Shrugged", because the company’s metal alloy product seems comparable to Rearden Metal, praised to be “the strongest and most reliable metal in the world” (in the book). But, Ayn Rand’s novel is fictional, which may or may not be the case with this company. Ha!
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