| Author |
Message |
    
Gldndog
Registered Member
Username: Gldndog
Post Number: 594
Registered: 12-2004
| | Posted on Wednesday, April 28, 2010 - 11:47 am: | 
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Did I hear it right?
Will there be a hologram on US currency?
gldndog |
Slip_60
Registered Member
Username: Slip_60
Post Number: 757
Registered: 10-2003
| | Posted on Friday, November 13, 2009 - 11:41 am: |
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New ABNH Product - Adam Scheer really scored beginning with the Ken relationship.
http://finance.yahoo.com/news/JDSU-Wins-IHMA-Excellence-in-iw-1165621278.html?x= 0&.v=1
JDSU Wins IHMA "Excellence in Holography" Award for HoloFuse(TM) Product |
Jymmye888
Registered Member
Username: Jymmye888
Post Number: 86
Registered: 06-2004
| | Posted on Friday, July 10, 2009 - 05:42 pm: |
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Weissman's sentencing hearing for Monday has been postponed, no new date set. |
Jymmye888
Registered Member
Username: Jymmye888
Post Number: 85
Registered: 06-2004
| | Posted on Friday, July 10, 2009 - 08:05 am: |
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ABHH's Final Chapter Monday
Morris Weissman, the former chairman of American Banknote Inc. and American Banknote Holographics will be sentenced on Monday after 8 years.
If you were one of the 1,778 claimants who received money from the old class action settlement, you will be eligible to recover additional money from the Restitution Order expected on Monday.
The Restitution Order will be partially funded with a lien on Weissman's $1.5 million bail. |
Killernut
Registered Member
Username: Killernut
Post Number: 5847
Registered: 10-2003
| | Posted on Saturday, June 06, 2009 - 10:09 pm: |
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Doing research on another stock and guess who pops up? Kenneth Traub.
quote:iPass to Return up to $40 Million of Capital to Stockholders
Company Settles Proxy Contest With Foxhill and Appoints a Foxhill Nominee to the Board
* On Wednesday June 3, 2009, 8:00 am EDT
*
Buzz up!
* Print
Related:
* iPass Inc.
iPass Inc. (NASDAQ: IPAS - News), a global provider of services that unify the management of enterprise mobility, today announced that its board of directors has determined to take steps to return up to $40 million to stockholders under certain conditions, which determination has been reflected in a settlement agreement with Foxhill Opportunity Master Fund, L.P. (Foxhill). iPass also announced that, as part of the settlement agreement with Foxhill, the iPass board of directors has agreed to immediately appoint a Foxhill nominee, Kenneth H. Traub, to the board of directors. In return, Foxhill will withdraw its previously announced notice to solicit proxies to elect three of its nominees on the iPass board of directors at the 2009 annual meeting of stockholders. As a result, Foxhill will not be delivering any proxies it receives at the 2009 annual meeting.
Related Quotes
Symbol Price Change
IPAS 1.58 -0.01
Chart for iPass Inc.
{"s" : "ipas","k" : "c10,l10,p20,t10","o" : "","j" : ""
The settlement agreement calls for the board of directors to declare a $20 million cash dividend to stockholders "as soon as practicable" following stockholder approval, at a special meeting of stockholders, of an amendment to iPass' outstanding stock options and equity awards, and related plans. The amendment would provide that the value of the equity awards would not be impaired by the dividend. The special meeting is expected to occur in the third quarter of 2009.
The board of directors has also determined to return up to an additional $20 million to stockholders by the end of 2009 through a tender offer, cash dividend or other form determined by the board of directors, subject to certain conditions.
Mr. Traub, the Foxhill nominee, will serve a term that expires at the 2009 annual meeting. Given that he met certain conditions, the board of directors agreed to nominate him at the 2009 annual meeting for election to a term that expires at the 2012 annual meeting. Mr. Traub is a private investor and strategic management consultant. Mr. Traub served as vice president and corporate advisor of JDS Uniphase Corporation (JDSU), a provider of optical products and test and measurement solutions for the communications industry, from February 2008 to September 2008. He served as president, chief executive officer and a member of the board of directors of American Bank Note Holographics (ABNH), a producer and marketer of optical security devices, from April 1999 to February 2008, at which time ABNH was acquired by JDSU. Mr. Traub managed an extensive turnaround of ABNH, and under his leadership, ABNH's stockholders enjoyed a gain of over 1000% from 2001 through the sale to JDSU. He will serve as the Foxhill designee, and will be appointed to the iPass board's Corporate Governance and Nominating Committee and the Compensation Committee.
iPass also announced that it intends to appoint Gary Griffiths to the board of directors, following the resignation of an incumbent director after the 2009 annual meeting. Mr. Griffiths will be nominated at or shortly following the 2009 annual meeting. With the election of this candidate and of Mr. Traub, the board of directors will be fixed at 10 directors. The size of the board of directors will not be increased to more than 10 directors before the 2010 annual meeting pursuant to the terms of the settlement agreement.
Gary Griffiths is chairman and CEO of LiteScape Technologies, a private company that develops and sells VoIP and mobile software applications. Prior to joining LiteScape, Gary was a vice president at Cisco and President of Product and Operations at Web-EX prior to its acquisition by Cisco. Griffiths is a thirty-five year veteran of the high-tech industry. Griffiths was the founding CEO of on-demand desktop management company Everdream, which was sold to Dell in 2007. In 1995, he was co-founder and CEO of SegaSoft Networks, one of the pioneers in interactive entertainment, which was sold to Sega in 1999. Gary held senior management positions with IBM for more than 16 years. A graduate of the United States Naval Academy, Gary served as an officer aboard nuclear fast attack submarines for five years, and was an associate professor of systems engineering at the US Naval Academy. Gary has a B.S. in Aerospace Engineering from the United States Naval Academy and an M.S. in business administration from the George Washington University. He is on the board of directors of Silicon Graphics International (NASDAQ: SGI - News) and Simco Electronics, and is an advisor to Parthenon Capital and a number of private technology companies.
Under the settlement agreement, until December 31, 2010 (or earlier if a Foxhill nominee no longer serves on the board of directors), Foxhill will support the iPass board of directors' proxy slates and not support or participate in any "withhold the vote" or similar campaign or support any nominees other than the board of directors' slate; will not propose or support any proxy resolutions or conduct any proxy solicitations against the recommendation of the board of directors; and will propose nominees or proxy resolutions only to the board of directors' Corporate Governance and Nominating Committee.
The settlement agreement also provides that the iPass board of directors will continue to recommend that iPass stockholders vote in favor of the proposal to declassify the board at the 2009 annual meeting.
"The board will welcome the contributions of the new Directors, and is pleased that this agreement will allow everyone at iPass to keep their focus on achieving positive operating cash flow and non-GAAP profitability in fiscal 2009," said Evan Kaplan, president and chief executive officer of iPass. "The determination to return significant cash to our stockholders is a strong statement of the board's confidence that we are well on the path toward completing our corporate transformation and driving renewed revenue growth and profitability."
Neil Weiner, the managing member of Foxhill Capital Partners, LLC, the investment manager of Foxhill, commented, "We are very pleased that the board has determined to return capital to stockholders and to appoint one of our highly qualified nominees who is committed to maximizing the value of iPass shares for all stockholders, and continues to support the declassification proposal." Mr. Weiner added, "We are encouraged by the board's responsiveness to stockholders and believe Mr. Traub and Mr. Griffiths will add significant expertise to the board."
As previously reported, iPass had approximately $68 million in cash and cash equivalents and short-term investments at March 31, 2009, and 62.6 million shares outstanding as of April 30, 2009.
About iPass
iPass helps enterprises unify the management of remote and mobile connectivity and devices. With iPass software and services, customers can create easy-to-use broadband solutions for their mobile workers, home offices and branch and retail locations, complete with device management, security validation and unified billing. iPass offerings are powered by its leading global virtual network, on-demand management platform, and award-winning client software. The iPass global virtual network unifies hundreds of wireless, broadband and dial-up providers in over 160 countries. Hundreds of Global 2000 companies rely on iPass services, including General Motors, Nokia, and Reuters. Founded in 1996, iPass is headquartered in Redwood Shores, Calif., with offices throughout North America, Europe and Asia.
About Foxhill
Foxhill Capital Partners, LLC, located in Princeton, New Jersey, is the investment advisor to Foxhill, a Cayman Islands exempted limited partnership that acts as a collective investment vehicle.} |
Killernut
Registered Member
Username: Killernut
Post Number: 5721
Registered: 10-2003
| | Posted on Friday, January 30, 2009 - 07:02 pm: |
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Is this the Levy of Levy=Harkins?
http://www.foxbusiness.com/video-search/m/21666358/madoff-victim-i-m-not-mad-at- bernie.htm
http://www.msnbc.msn.com/id/28326500/
http://dealbook.blogs.nytimes.com/2008/12/15/madoff-scandal-forces-jeht-foundati ons-closure/
http://www.nydailynews.com/money/2008/12/21/2008-12-21_charities_burned_by_berna rd_madoff_and_p.html |
See2see
Registered Member
Username: See2see
Post Number: 97
Registered: 10-2003
| | Posted on Monday, February 25, 2008 - 06:03 pm: |
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RJ, I think that there is some truth to your statements, but what is not noted is that ABHH was too small to compete effectively and had a stained reputation besides, and that takes a lot of time to heal. It's like selling damaged goods, not easy.
I am disappointed to see the starting point and ending point for such a long wait, but that it life. I bet big because I saw a lot of ways for the company to make it big, and one by one they failed until the last option of selling out brought a small payout. But the premise to invest here was probably correct, high reward potential and low risk. The reward side was lower than I thought I would see, but maybe the risk assessment was correct. So even if the big rewards escaped. I still made money.
Also I wanted to ask how your current holdings fit together. Is there a theme to them? I am looking for some new areas to put some money to work.
I hope that we can keep 11 wall together. Finding some new targets to discuss would be a step in the right direction to accomplish that. |
Rjo
Registered Member
Username: Rjo
Post Number: 632
Registered: 10-2003
| | Posted on Sunday, February 24, 2008 - 09:17 am: |
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Fellow Arkers,
As I think about the last few years of ABH, ABHH I have to agree with Stow that there is a book in this story. I learned as much or more from my fellow Arkers who argued ad-nauseum sometimes about why the CEO was doing or not doing his job. The following words now have meaning even though you won't find them properly defined in any dictionary as we know them:
Birney, Rabbit, DTECH (with fond memory of his non illigitemi carborundum quotation), TC (still remember our first annual meeting and all the GREAT stuff the CEO was about to do), Twomagna, Slip, Stow, GoldenRetriever, Public Heel, Gap, coach, See2see, Jslopi, Azevans, JFH, Tree Sloth and many others along on this journey.
Looking back through these archives I think the most wrong statement ever made was "I'll never own this POS if it ever goes back over $2" Does anyone else remember when it was under one dollar? I put every last cent my family owned into it at that time but without a currency deal I could not hold it past $3. Stow provided a great list of chapters in a book that the CEO should write but he knows full well nothing will ever be done by that man unless it uniquely is self serving. I remain amazed how Crane could actually be in the EURO hologram business thorugh their purchase of European and Scandinavian manufacturing facilities which included the Euro and this CEO could never get ABNH into that business. Remember the annual meeting where the board did not even face the shareholders nor had the ability to answer questions? Crane owned parts of competitiors of ABNH and even put in a facility for holographics in Massachusetts but our CEO could not complete the deal. Crane owned a company that put inserts into our currency but our CEO could not complete the deal. The only deal our CEO was APPARENTLY working on was indeed foreseen by his contract which richly rewarded him for a change in control which was completed. What a waste!!!!!!
I still hand out holograms I purchased to kids in the local school system and put them on envelopes yet our CEO could never get the POST OFFICE to see the value of prepaid envelopes with postage in the form of a hologram on them already even though Sal had done a pilot deal years before our CEO ever arrived. Yes - I made some money on this stock but looking back if it was made into a book it would not be complimentary of how new products already in the pipeline when the CEO came aboard were ever brought to market, nor based on shareholder relations and never complimentary on product development. It would show greedy, self serving executive wannabe's how to keep a chokehold on a company with potential. I'll never own JDSU stock. What planet are they really on?
ALL IMHO. Any reference to real people is merely your imagination as all people discussed were actually on an ARK for years only now watching a guy with a special seat on the ARK getting off with his questionable rewards in my book.
I am now in IIJI, DNDN, GERN, BFS, SYMC, RHT, INTC, CEGE, DYAX, MPEL, MRVL, RHT, MYL, NT and PSTI. No more putting all my eggs in one basket.
RJ |
Public_heel
Moderator
Username: Public_heel
Post Number: 6792
Registered: 12-2003
| | Posted on Thursday, February 14, 2008 - 09:11 am: |
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The JDSU execs should be kicking themselves that they scheduled their earnings release last week for a day that allowed ABHH shareholders to pick up an extra $15m of their stock.
I suppose all they care about, though, is getting caught, and only a few alert ABHH (not JDSU) shareholders will have noticed the screwup... |
Cmac
Registered Member
Username: Cmac
Post Number: 384
Registered: 03-2004
| | Posted on Thursday, February 14, 2008 - 08:57 am: |
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I admit to being schnookered by the action in the past week. ABHH was a very good investment over the years for me. Farewell. |
Slip_60
Registered Member
Username: Slip_60
Post Number: 740
Registered: 10-2003
| | Posted on Wednesday, February 13, 2008 - 06:22 pm: |
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13.30 x .4479 = $5.96 in stock + $1 cash = $6.96 per ABHH share |
Slip_60
Registered Member
Username: Slip_60
Post Number: 739
Registered: 10-2003
| | Posted on Tuesday, February 12, 2008 - 11:55 am: |
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Any chance of ABNH backing out of the deal and paying an approx $5mm breakage fee? At first, I thought this $ amount would force the acquisition, but now ABNH has a market cap of approx $26mm more. |
Public_heel
Moderator
Username: Public_heel
Post Number: 6774
Registered: 12-2003
| | Posted on Monday, February 11, 2008 - 01:26 pm: |
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If the closing is Wednesday, then, the person who paid $6.90 would need a JDSU price of about $13.50 to be bailed out... |
Reedman
Registered Member
Username: Reedman
Post Number: 22
Registered: 10-2003
| | Posted on Monday, February 11, 2008 - 01:22 pm: |
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Very strange (6.84)....there is a special meeting of stockholders scheduled for 10:00 AM on 13-Feb to formally adopt the Merger Agreement. It doesn't seem likely that they could close before the meeting. |
Public_heel
Moderator
Username: Public_heel
Post Number: 6772
Registered: 12-2003
| | Posted on Monday, February 11, 2008 - 12:52 pm: |
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Holy cow... $6.84 high so far
If the deal closes tonight or tomorrow, that's a money-maker. If later, it's a money-loser... |
Killernut
Registered Member
Username: Killernut
Post Number: 5230
Registered: 10-2003
| | Posted on Thursday, February 07, 2008 - 05:56 pm: |
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PH. I will miss it. I made lotso money here. But I always viewed it as a trade sometimes a longer term trade but always a trade. There was always good information and discussion here. |
Public_heel
Moderator
Username: Public_heel
Post Number: 6751
Registered: 12-2003
| | Posted on Thursday, February 07, 2008 - 04:01 pm: |
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Bought 10k shares at $6.25 and sold at $6.32
Thanks to Zipper51 for bringing up the possibility of a $6.15+ closing.
I still find it hard to believe that JDSU management would throw away their company's money by allowing that to happen. I guess there's always the possiblity that the JDSU price will (be made to?) move in such manner that the closing is less than $6.15...
Anyway, I suppose that's my last ABHH trade, after nine years. I can't say I'll miss it... |
Public_heel
Moderator
Username: Public_heel
Post Number: 6743
Registered: 12-2003
| | Posted on Wednesday, February 06, 2008 - 12:52 pm: |
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It would be derelict of JDSU management to give away value unnecessarily, so I look for them to close the deal no earlier than next Friday, which would give ABHH holders $6.15, assuming JDSU's price does not move between now and Tuesday close. |
Killernut
Registered Member
Username: Killernut
Post Number: 5229
Registered: 10-2003
| | Posted on Wednesday, February 06, 2008 - 12:40 pm: |
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Good thinking guys.
25-Jan-2008
Entry into a Material Definitive Agreement, Change in Directo
Item 1.01 Entry into a Material Definitive Agreement.
On January 21, 2008 the Compensation Committee of the Board of Directors (the "Committee") of American Bank Note Holographics, Inc. (the "Company") approved the payment of bonuses to its executive officers pursuant to each executive officer's employment agreement with the Company in recognition of performance achievements during the 2007 fiscal year as compared to performance goals established by the Committee for the year. In accordance with each executive officer's employment agreement, 2007 annual bonus payments will be made to Kenneth Traub, the Company's President and Chief Executive Officer, Salvatore D'Amato, the Company's Chairman of the Board, and Mark Bonney, the Company's Executive Vice President and Chief Financial Officer in the amounts of $165,000, $35,000 and $115,000, respectively. In addition, the Committee approved the payment to Messrs. Traub and Bonney of $140,000 and $98,000, respectively, which comprises that portion of the 2007 annual bonus relating specifically to the completion of a sale transaction. These bonus payments will be made immediately following the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated December 10, 2007, by and among the Company, Light Acquisition Corp. and JDS Uniphase Corporation which is expected to occur on or about February 13, 2008. } |
Public_heel
Moderator
Username: Public_heel
Post Number: 6740
Registered: 12-2003
| | Posted on Wednesday, February 06, 2008 - 12:13 pm: |
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Say they closed on Monday, the 11th.
The five-day valuation period would end today. The five-day average would be $10.88, which would require .473 shares of JDSU to make $5.15
Assuming a close of $13 for JDSU on Monday...
.473 * 13 + 1 = $7.15/share
If the close were on Tuesday, and assuming that JDSU closes at $13 every day up until then, the transaction value would be $6.89
If the close were Wednesday the 13th, it'd be $6.64
So, where did you see them say it would be the 13th? |
Public_heel
Moderator
Username: Public_heel
Post Number: 6739
Registered: 12-2003
| | Posted on Wednesday, February 06, 2008 - 12:01 pm: |
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I have to think it's unlikely that they are playing games with the closing date. If they said the closing would be Feb 13, then moved it up to the 8th or earlier, and bought ABHH shares to take advantage of the change, they'd be looking at jail time... |
Public_heel
Moderator
Username: Public_heel
Post Number: 6738
Registered: 12-2003
| | Posted on Wednesday, February 06, 2008 - 11:43 am: |
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That would be inordinately clever of them... to come out with a surprisingly good earnings report Wednesday morning, close the deal on Friday, and thus have the price-determination cutoff on Tuesday.
That would also be an unannounced and two-month closing, both of which are highly unusual... |
Rusdrake
Registered Member
Username: Rusdrake
Post Number: 79
Registered: 10-2003
| | Posted on Wednesday, February 06, 2008 - 11:40 am: |
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when does the deal close? |
Zipper51
Registered Member
Username: Zipper51
Post Number: 1
Registered: 10-2003
| | Posted on Wednesday, February 06, 2008 - 11:40 am: |
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Is it possible that they moved up the transaction date to today?
The filing says "JDS Uniphase Corporation which is expected to occur on or about February 13, 2008".
The price is an average of the 5 prior trading days which would give ABHH holders a price of $10.93 if it closes at 13.05 today. |
Reedman
Registered Member
Username: Reedman
Post Number: 21
Registered: 10-2003
| | Posted on Wednesday, February 06, 2008 - 11:33 am: |
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How about if....
Could insiders know that the closing date for the purchase by JDSU is scheduled for the next couple of days, thereby fixing the price of the JDSU shares to be exchanged at a substantially lower number than they will be when the exchange actually takes place? |
Reedman
Registered Member
Username: Reedman
Post Number: 20
Registered: 10-2003
| | Posted on Wednesday, February 06, 2008 - 11:08 am: |
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JDSU up substantially (29%) today re: 2nd Qtr. results & several upgrades. Still, why would this move ABHH beyond 6.15? |
Killernut
Registered Member
Username: Killernut
Post Number: 5228
Registered: 10-2003
| | Posted on Wednesday, February 06, 2008 - 10:22 am: |
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J, good question.
either some don't understand the terms or there is another offer to come? |
Jarawara
Registered Member
Username: Jarawara
Post Number: 225
Registered: 10-2003
| | Posted on Wednesday, February 06, 2008 - 09:46 am: |
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Uhhh... so if the offer is for 6.15, why is it now trading at 6.30 a share and still pointed upward?
Irrational Exuberance? |
Killernut
Registered Member
Username: Killernut
Post Number: 5217
Registered: 10-2003
| | Posted on Monday, February 04, 2008 - 02:54 pm: |
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I sold my last few shares on Friday. I only had a few in an account that I usually forget about. It was 100% ABHH. I wanted to get some DNDN so I sold allmy ABHH and went into DNDN. |
Slip_60
Registered Member
Username: Slip_60
Post Number: 738
Registered: 10-2003
| | Posted on Monday, February 04, 2008 - 02:26 pm: |
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I didn't think ABHH would get as close to the $6.15 offer as it is now ($6.07), because of the fact that so much was in stock. I left a few thousand on the table by getting out to quick. |
Coach_98133
Registered Member
Username: Coach_98133
Post Number: 55
Registered: 01-2004
| | Posted on Saturday, February 02, 2008 - 01:58 pm: |
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CELTIC 1967:
I was in Scottsdale chasing the Sunshine when I read your post. I am out also & totally agree with you about BAILING OUT TOO SOON BY KEN. When you see my 11 WALL CAP on E-BAY, you will know my nine years of emotional bouncing are over. Thanks to all who kept the dream alive. COACH |
Celtic1967
Registered Member
Username: Celtic1967
Post Number: 70
Registered: 10-2003
| | Posted on Monday, January 28, 2008 - 12:37 pm: |
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I noticed that Traub got his annual bonus last week, plus an extra $140,000 "which comprises that portion of the 2007 annual bonus relating specifically to the completion of a sale transaction". If that relates to the sale of ABHH to JDSU it seems a small reward for selling the rest of us down the river.
On the announcement of the sell off to JDSU I sold all my ABHH shares (I've held them since 1999). I must admit to being fairly pissed off at Traub. I am convinced ABHH could have been so much more profitable to the shareholders if it had been better managed and it gauls me to see him make out like a bandit while selling the company so cheaply.
I'm not sure how many arker's are left but I guess there can't be many. I will miss this board. It has been very educational and I thank everyone who posted words of wisdom over the years.
All the best
Celtic1967} |
Slip_60
Registered Member
Username: Slip_60
Post Number: 737
Registered: 10-2003
| | Posted on Friday, January 25, 2008 - 08:02 pm: |
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Traub, et al...... Mo Money, Mo Money, Mo Money. |
Slip_60
Registered Member
Username: Slip_60
Post Number: 734
Registered: 10-2003
| | Posted on Wednesday, January 16, 2008 - 09:23 pm: |
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Coach, I was hoping to see an answer to your question as I was curious also.
As far as the stock swap. As JDSU continues to decline in price and ABHH remains at current levels, ABHH holders will end up with more JDSU stock.
I sold all my ABHH holdings in my retirement account prior to year end, and today sold the remainder in individual accounts. It was a nice ride and I was ready to exit rather than follow JDSU. I must say that I am happy, but think they could (and should) have held out for more than they (we) received.
Good luck to all my friends here and I will still be lurking and posting on this site. |
Coach_98133
Registered Member
Username: Coach_98133
Post Number: 54
Registered: 01-2004
| | Posted on Monday, January 07, 2008 - 12:27 pm: |
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Wondering about the $ 1.00/SHARE & how it will be taxed? Will this be treated like a DIVIDEND or REGULAR INCOME or CAPITAL GAINS MONEY??? Has anyone had this experience in their past stock experience? TIA, COACH |
Tp3192000
Registered Member
Username: Tp3192000
Post Number: 26
Registered: 08-2005
| | Posted on Saturday, January 05, 2008 - 08:51 am: |
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Seems to me that with the price approaching 5-year lows that this is an ideal time to become a JDSU stock holder. Certainly the company made a smart decision in picking up ABNH.
Happy 2008 and GL! |
Stowaway
Registered Member
Username: Stowaway
Post Number: 341
Registered: 01-2007
| | Posted on Friday, December 21, 2007 - 12:52 pm: |
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See2see
"JDSU appears to be too complex to analyze."
Complex for you perhaps. At least your able to admit your own capabilities.
Even a garbage dump with a nice new hot pair of hologram hooters is still a garbage dump. IMO. But some people do like garbage dumps. Garbage dumps do make good shorts at times when they get nice and fat in over valued.
"No depression unless it is your house that gets foreclosed upon. No energy crunch either if you can afford to pay the market rate and the government lets the free market work."
I have no mortgage to foreclose on as of last year.  But sadly others due. That will have an adverse effect on the economy. And the free market post removal of regulations by our government in those states have shown that people are now paying 15 to 20% more in there energy costs.
"Wow, now you owe me a chocolate martini for all my fortune telling."
Some fortune telling. LOL... There is only one man that I will always owe chocolate martinis to. And your not it. In fact your not worthy of even carrying his jock strap. |
See2see
Registered Member
Username: See2see
Post Number: 92
Registered: 10-2003
| | Posted on Thursday, December 20, 2007 - 09:53 pm: |
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Stow, JDSU appears to be too complex to analyze. Warren Buffet would just say no because of that alone. And the Patriots will win the super Bowl. No depression unless it is your house that gets foreclosed upon. No energy crunch either if you can afford to pay the market rate and the government lets the free market work. And finally the credit crunch will get worse before it gets better, but credit worthy borrowers will see little effect.
Wow, now you owe me a chocolate martini for all my fortune telling. Good thing that you didn't also ask for the powerball numbers, that one would cost you much more than a martini. |
Rusdrake
Registered Member
Username: Rusdrake
Post Number: 78
Registered: 10-2003
| | Posted on Tuesday, December 18, 2007 - 09:54 am: |
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should a JDSU board be created? |
Stowaway
Registered Member
Username: Stowaway
Post Number: 340
Registered: 01-2007
| | Posted on Monday, December 17, 2007 - 03:31 pm: |
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"once the reason one owns a stock no longer applies, it's time to get out."
Sounds like something TC has said so many of times over the years. Its one of the things that still sticks in my head. I agree for what its worth about as much as the electrons it traveled on to get to you. LOL... Classic |
Stowaway
Registered Member
Username: Stowaway
Post Number: 339
Registered: 01-2007
| | Posted on Monday, December 17, 2007 - 03:24 pm: |
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See2see
"But I don't want to hold JDSU if it is a crisis waiting to happen."
Perhaps its time you did your own due diligence like some good old fashion research on JDSU to answer your very question. And regarding CG taxes. Its not just a one size fits all situation. Depending on how much gains or loses one made over the course of the past year. One thing is sure your going to pay sooner or later. Its the American way. Now how much will the tax laws change in 2008 is a question for the brave. The days of the big tax breaks are coming to an end sooner then we all think.
See2see
Perhaps you could give all of us your insights into the future of the economy. How big of a depression will we see. How big of a housing crises, credit crunch and energy crises will hit the US. And of course I need your super bowl picks as well. |
See2see
Registered Member
Username: See2see
Post Number: 91
Registered: 10-2003
| | Posted on Monday, December 17, 2007 - 01:36 pm: |
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PH, generally I agree with you. But if JDSU were to turn out to be the kind of stock that I would buy with the after tax proceeds, I will be coming out behind. Or I might find it better to repeatedly sell calls on JDSU until it is called away, and take the CG tax bite in 2008 instead of 2007. But I don't want to hold JDSU if it is a crisis waiting to happen. |
Public_heel
Moderator
Username: Public_heel
Post Number: 6320
Registered: 12-2003
| | Posted on Monday, December 17, 2007 - 01:01 pm: |
|
My advice - which is worth about as much as the electrons it traveled on to get to you - is that, once the reason one owns a stock no longer applies, it's time to get out... |
Holoman
Registered Member
Username: Holoman
Post Number: 4
Registered: 02-2006
| | Posted on Monday, December 17, 2007 - 12:20 pm: |
|
I have the same question as See2see and would also greatly appreciate any advice or knowledge in this regard. |
See2see
Registered Member
Username: See2see
Post Number: 90
Registered: 10-2003
| | Posted on Sunday, December 16, 2007 - 07:23 pm: |
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Seeing that I will probably end up with JDSU stock, what is the board's opinion on JDSU? Should I pay the capital gains tax and move to better fishing waters, or hold onto JDSU for a while? |
Slip_60
Registered Member
Username: Slip_60
Post Number: 726
Registered: 10-2003
| | Posted on Thursday, December 13, 2007 - 02:53 pm: |
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Vikholo - does anyone know who else competes with ABHH?
Delarue for credit card business, many others for everything else. Just google holograms or select competitors on Yahoo (ABNH). |
Vikholo
Registered Member
Username: Vikholo
Post Number: 1
Registered: 12-2007
| | Posted on Thursday, December 13, 2007 - 01:07 pm: |
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ABHH + JDSU optical seems like a natural fit? They look highly complementary...does anyone know who else competes with ABHH? |
Killernut
Registered Member
Username: Killernut
Post Number: 5117
Registered: 10-2003
| | Posted on Thursday, December 13, 2007 - 07:53 am: |
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Slip, good stuff. Looks like a very natural fit. |
Slip_60
Registered Member
Username: Slip_60
Post Number: 725
Registered: 10-2003
| | Posted on Wednesday, December 12, 2007 - 11:01 pm: |
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Presentation made by JDSU to employees of ABNH:
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001341004%2D07%2D00312 1%2Etxt&FilePath=%5C2007%5C12%5C11%5C&CoName=AMERICAN+BANK+NOTE+HOLOGRAPHICS+INC &FormType=425&RcvdDate=12%2F11%2F2007&pdf= |
Killernut
Registered Member
Username: Killernut
Post Number: 5115
Registered: 10-2003
| | Posted on Wednesday, December 12, 2007 - 08:38 pm: |
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Slip, I agree, but I doubt there is any difference. I don't know what yesterdays volume was but I would guess well over 1M shares have traded the last couple days. How many days in the past would it have taken to trade 1M shares? |
Slip_60
Registered Member
Username: Slip_60
Post Number: 724
Registered: 10-2003
| | Posted on Wednesday, December 12, 2007 - 07:22 pm: |
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Killernut - JSDU is much more liquid than ABNH, and I would think that 3mm in shares can be traded easily. That is what spurred my question. |
Killernut
Registered Member
Username: Killernut
Post Number: 5111
Registered: 10-2003
| | Posted on Wednesday, December 12, 2007 - 06:24 pm: |
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slip, I doubt it will make much difference. Arbriters are setting the price of ABHH now. |
Slip_60
Registered Member
Username: Slip_60
Post Number: 723
Registered: 10-2003
| | Posted on Wednesday, December 12, 2007 - 06:06 pm: |
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Will Crane wait until they have JDSU shares before liquidating? |
Slip_60
Registered Member
Username: Slip_60
Post Number: 722
Registered: 10-2003
| | Posted on Tuesday, December 11, 2007 - 09:32 pm: |
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Stow, you don't have to feel bad for me. My faith in ABNH was when it was trading at $3, $4, and $5. I just felt that the company would not go bust or their stock price slide much, even with their reliance on mainly 2 customers. I liked their balance sheet very much and was not afraid to hold. At $6, I would triple my money and wish I had patiently bought even more shares.
I am trying to make heads or tails of (from the 8k): JDSU will assume each outstanding option to purchase shares of the Company's common stock such that those options shall become options to purchase JDSU's common stock other than options held by non-employee directors or any other non-employee whose employment with the Company has terminated within 90 days prior to the effective time of the merger which such options shall be converted into the right to receive cash and stock merger consideration on substantially the same terms and conditions as the Company's stockholders.
And I don't think they are going to wait for any other offers or vote down this one: The Merger Agreement also contains customary representations, warranties and covenants, including covenants for the Company to cause a stockholders meeting to be called and held as soon as practicable to vote on the adoption of the Merger Agreement and related transactions. The Merger Agreement contains certain termination rights for both the Company and JDSU and further provides that upon termination of the Merger Agreement under specified circumstances, the Company may be required to pay JDSU a fee equal to $4,825,000. |
Jslopi
Registered Member
Username: Jslopi
Post Number: 90
Registered: 10-2003
| | Posted on Tuesday, December 11, 2007 - 08:20 pm: |
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I wonder if the Board already given its tacit approval.
I agree, Traub appears to be the big winner here with all of his options.
J |
Jslopi
Registered Member
Username: Jslopi
Post Number: 89
Registered: 10-2003
| | Posted on Tuesday, December 11, 2007 - 08:18 pm: |
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See2 - I believe the final JDSU price to be used is addressed in the release.
As for the stock price of ABHH, I am told that it usually stays about 4% lower than the published takeover price for the arbitrage. They have to make their money.
I just don't get the desire to sell for a mere 19% over the basic trading price. Not for a company that is supposedly on the upswing.
This is not much of a gain for some of the holders that protested and got board seats and options.
J |
Stowaway
Registered Member
Username: Stowaway
Post Number: 338
Registered: 01-2007
| | Posted on Tuesday, December 11, 2007 - 08:13 pm: |
|
Jslopi
"I just don't get it."
Ken gets it. He gets to stay on board from what I have been told.  Perhaps its cheaper to keep him for now. At any rate you should have know by now Ken's needs come before the shareholders do. I guess I should be thankful for the 5.90 a share I sold at. .25 cents a share more I just didn't see it worth my time waiting around for. Like if the deal fell apart. We 11wall no longer have enough votes to vote it down anyway. Crane wants out! So they will vote yes. And the other board members will vote yes as well.
See2see
"does one wait to see if the bid is topped by another company"
By who? Ken negotiated the Mastercard deal very well making it cost any other company a lot more money then JDSU. Along with buying Ken out another company would have to spend a whole lot more. Check with your accountant and see what works best for you. I have a feeling a lot of people sold out today. Taking the money and running away from Ken as fast as they could.
Slip
Your the only person I feel bad for as you always gave Ken more due then he ever deserved. I hope you still came out a head. IMO Ken always put him self first before the shareholders. And this is just another fine example. 6.15 a share. Steve don't forget RJ still owe's us some beer. I let people off the hook on money enough. But I draw the line when it comes to beer. |
Slip_60
Registered Member
Username: Slip_60
Post Number: 721
Registered: 10-2003
| | Posted on Tuesday, December 11, 2007 - 08:11 pm: |
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see2see - $5.15 worth of JDSU stock at the time of settlement.
The value of the JDSU shares to be paid to the ABNH stockholders will be determined with reference to the average of the closing sales price for a share of JDSU common stock on the Nasdaq Global Market for the five consecutive trading days ending with, but including, the trading day that is three trading days prior to the date of the closing of the transaction.
Is there any meaning to this: The stock consideration is expected to be tax-free to the ABNH stockholders. |
See2see
Registered Member
Username: See2see
Post Number: 89
Registered: 10-2003
| | Posted on Tuesday, December 11, 2007 - 07:01 pm: |
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One dollar in cash and the rest in stock. Will the amount of stock be fixed an thus the value of the deal change with the stock, or will they give 5.15 worth of JDSU at whatever is the price at the time that it close? Also, does one wait to see if the bid is topped by another company, or wait until after Jan 1 to put the capital gains into 2008, and what is the proper price to sell before the deal closes. I would have thought that it would be closer to 6 dollars and maybe a few pennies, rather than 5.90. |
Jslopi
Registered Member
Username: Jslopi
Post Number: 88
Registered: 10-2003
| | Posted on Tuesday, December 11, 2007 - 04:19 pm: |
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I don't get it.
Why would ABHH want to sell for $6.15? Flush with cash, price share holding in the upper 5's, revenues growing w/o Holomag, settlement & HIGH likelihood of HoloGen2 with MC...
I just don't get it.
I do for JDSU...they want the cash generation of ABHH.
J |
Stowaway
Registered Member
Username: Stowaway
Post Number: 337
Registered: 01-2007
| | Posted on Tuesday, December 11, 2007 - 02:58 pm: |
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OK I am now all out of this stock. There is nothing wrong with a very nice double. A bird in the hand is my thinking here. A lot of things can change before this deal is completed. And I have had about enough of Ken for now. Good luck to the rest of you folks still holding on.
My next related purchase just may be the new book by Ken T.
Here is a possible glimpse into just a few of the exciting chapters.
1. How to build a golden parachute for your self.
2. Stock options for dummies.
3. How to avoid listing your company on a major exchange for years.
4. Those dam Arker's
5. RJ and my migraine's
6. My soft spot for Hobbit's and his great stories.
7. How to only buy stock in your company when you first take control.
8. Visa and the dumpster.
9. How I convinced Sal to stay another year every year for many years.
10. Bonus Bonus Bonus How to keep getting them when you don't deserve it.
11. The real way to deal with share holders.
12. How I blew the whistle on Morris.
13. How I love to deal with the boy's at Mastercard.
14. Getting away with minimal Disclosures
15. Blue my big bad Hologram.
16. No money hony deal with Crane.
17. The SEC
18. How I held on to my job at ABNH for so many years.
19. How to keep a company from growing to fast.
20. Revenues the true story. |
Killernut
Registered Member
Username: Killernut
Post Number: 5103
Registered: 10-2003
| | Posted on Tuesday, December 11, 2007 - 11:29 am: |
|
PH,
quote:I guess this cuts the number of 11Wall posters by about 60%....
It very well might. IIRC ABHH was the reason 11wall was created? I didn't start posting here (there) until sometime in '98? or so I think. I never understood why so many posters care only about one stock. There has been a great amount of other information shared on this site which made it well worth the visit.
That said because of the ABHH posters I followed the stock and made tons of money on it. Didn't own any this morning but it was by far one of my biggest positions (and gainers) last year.
Heck even your posts are worth following because I have found your trading style go with the flow of the market. I miss TC's general insights greatly as well. |
Public_heel
Moderator
Username: Public_heel
Post Number: 6277
Registered: 12-2003
| | Posted on Tuesday, December 11, 2007 - 10:35 am: |
|
JDSU down 15% on takeover news...
http://www.didyoureallyfallforthis.com
I guess this cuts the number of 11Wall posters by about 60%.... |
Stowaway
Registered Member
Username: Stowaway
Post Number: 336
Registered: 01-2007
| | Posted on Tuesday, December 11, 2007 - 10:22 am: |
|
ADDITIONAL INFORMATION ABOUT THE MERGER AND WHERE TO FIND IT
JDSU and ABNH intend to file with the SEC a prospectus/proxy statement and other relevant materials in connection with the proposed acquisition of ABNH by JDSU pursuant to the terms of an Agreement and Plan of Merger by and among JDSU, Light Acquisition Corp., a wholly-owned subsidiary of JDSU, and ABNH. The prospectus/proxy statement will be mailed to the stockholders of ABNH. Investors and security holders of ABNH are urged to read the prospectus/proxy statement and the other relevant materials, as well as any amendments or supplements to those documents, when they become available because they will contain important information about JDSU, ABNH and the proposed merger. The prospectus/proxy statement and other relevant materials (when they become available), and any other documents filed by JDSU or ABNH with the SEC, may be obtained free of charge at the SEC's web site at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by JDSU by contacting JDSU Investor Relations, 430 North McCarthy Boulevard, Milpitas, CA 95035, (408) 546-4445. Investors and security holders may obtain free copies of the documents filed with the SEC by ABNH by contacting ABNH Investor Relations, 2 Applegate Drive Robbinsville, NJ 08691, (609) 632-0800. Investors and security holders of ABNH are urged to read the prospectus/proxy statement and the other relevant materials, as well as any amendments or supplements to those documents, when they become available before making any voting or investment decision with respect to the proposed merger.
JDSU, Kevin Kennedy, JDSU's President and Chief Executive Officer, and JDSU's other directors and executive officers may be deemed to be participants in the solicitation of proxies of ABNH stockholders in connection with the proposed merger. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of Mr. Kennedy and JDSU's other directors and executive officers in the solicitation by reading the prospectus/proxy statement when it becomes available.
ABNH, Kenneth Traub, ABNH's Chairman, Chief Executive Officer and President, and ABNH's other directors and executive officers may be deemed to be participants in the solicitation of proxies of ABNH stockholders in connection with the proposed merger. Such individuals may have interests in the proposed merger, including as a result of holding options or shares of ABNH common stock. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of Mr. Traub and ABNH's other directors and executive officers in the solicitation by reading the prospectus/proxy statement when it becomes available.
http://biz.yahoo.com/prnews/071211/aqtu107.html?.v=29 |
Stowaway
Registered Member
Username: Stowaway
Post Number: 335
Registered: 01-2007
| | Posted on Tuesday, December 11, 2007 - 10:13 am: |
|
Please don't tell me they are keeping Ken on board. Perhaps he would make a good janitor IMHO. Perhaps after they take control and establish things they will find a way to get rid of the boat anchor for a lot less. LOL....
"We are thrilled to be joining forces with JDSU at this critical point in the evolution of the brand protection market. With the proliferation of advanced imaging technologies available to counterfeiters today and the recent dramatic escalation in counterfeit activity, the need for a comprehensive solutions-based approach has never been greater. The combination of ABNH and JDSU technologies, products and market positions will provide a formidable answer to this escalating global requirement," said Kenneth Traub, president and chief executive officer of ABNH." |
Stowaway
Registered Member
Username: Stowaway
Post Number: 334
Registered: 01-2007
| | Posted on Tuesday, December 11, 2007 - 10:03 am: |
|
RJ
This explains Ken's deal with Mastercard and how he structured it. I hope they look into this deal with all eyes on Ken. He sure had inside info along with others buying up in the last few days. Now Crane can get out with a nice profit. I was hoping for 8.00 to 10.00 a share. JDSU will turn this little company into a big money maker more then Ken ever could that's for sure. |
Rjo
Registered Member
Username: Rjo
Post Number: 631
Registered: 10-2003
| | Posted on Tuesday, December 11, 2007 - 09:52 am: |
|
Now we know what insiders knew when it was implied they would list ABHH but never made the effort to do so. Now we know why people who knew were buying very slowly not to let on what they knew when they knew. etc, etc, etc
IMHO this is the end of a long arduous saga full of innuendo and delay but alas the last holders did gain and for them HURRAY!
For those who want to keep in touch outside of the jdsu thread let me know your e-mail.
ohneiserlaw@verizon.net
RJ |
Stowaway
Registered Member
Username: Stowaway
Post Number: 333
Registered: 01-2007
| | Posted on Tuesday, December 11, 2007 - 09:48 am: |
|
WOW THANK YOU LORD! BY BY KEN T. DONT LET THE DOOR HIT YOU IN THE ASSSSSSSSSSSSSS NOW. |
Killernut
Registered Member
Username: Killernut
Post Number: 5102
Registered: 10-2003
| | Posted on Tuesday, December 11, 2007 - 09:44 am: |
|
uhh, is anyone paying attention.
http://biz.yahoo.com/prnews/071211/aqtu107.html?.v=29
wow is all I can say. |
Slip_60
Registered Member
Username: Slip_60
Post Number: 720
Registered: 10-2003
| | Posted on Tuesday, December 11, 2007 - 12:05 am: |
|
Just got in and can't digest all. I am sure MC got what they want, but I imagine ABNH will use the exposure at the conferences to try and sell partner banks on putting decorative holos (holostripe, holocard, etc) on the added space afforded to market their brand. I would think that ABNH envisions the marketing of new card designs to banks as a big part of their business going forward. They did announce that they sold holostripe to one of the 10 largest banking institutions. |
Killernut
Registered Member
Username: Killernut
Post Number: 5100
Registered: 10-2003
| | Posted on Monday, December 10, 2007 - 07:21 pm: |
|
Stow,
My only question is if ABHH had been a sponsor of the conference before?
Otherwise I agree this is just one way for ABHH to get something out of the agreement to settle with Mastercard.
Overall it probably is a positive going forward.
One key is that Holomag Gen 2 is a success.
THat said again there was substantial trading between the actual signing of the agreement and the public acknowledgement. :-( |
Stowaway
Registered Member
Username: Stowaway
Post Number: 332
Registered: 01-2007
| | Posted on Monday, December 10, 2007 - 07:04 pm: |
|
So they will spend a half a million dollars a year for this agreement to be able to attend MasterCard's Security Conferences. I hope for that kind of money they are able to sell more holograms. Part of me thinks this was somehow just a very fancy way to settle the claims of so called damages from holomag 1.
23.0 ABNH Sponsorship of MasterCard Security Conferences
MasterCard and ABNH hereby agree that ABNH shall be a Preferred
Partner Sponsor of MasterCard Security and Risk Conferences worldwide
(the “Conferences”) from the date of execution of this Agreement
through December 31, 2012. ABNH shall be provided with prominent
exhibit space at the Conferences to display ABNH promotional
materials, and to offer ABNH products to MasterCard partners including
banks and card manufacturers attending the Conferences. MasterCard
shall recognize ABNH as a Preferred Partner Sponsor at the
Conferences, and on related marketing materials. Further, ABNH shall
have the right to promote its sponsorship of the Conferences on its
own website and in collateral materials and in press releases, subject
to prior review and approval by MasterCard. MasterCard currently holds
approximately five security and risk conferences per year which are
widely attended by MasterCard partners worldwide. MasterCard may
change the frequency, location or content of its conferences at any
time at its discretion. ABNH shall pay MasterCard a sponsorship fee of
$125,000 per quarter, payable prior to the last day of each calendar
quarter, with the first payment of $125,000 due prior to December 31,
2007 (for the 4th quarter of 2007), and the last required payment due
on or before December 31, 2012. Should the Hologram Agreement be
terminated for any reason other than a breach by MasterCard, including
the
Ken sure knows how to lay out a mine field! I wonder if the new board members were on board with this decision. IMO it stinks! For us shareholders that is. But for little Jesus Ken T. Its all just part of securing up his job at our expense. It just goes to show us all once again that he could care less about the shareholders and simple puts him self first!
6.0 It is hereby understood and agreed that if, at any time, the
majority of the shares of ABNH or substantially all of its assets
should be sold, transferred or otherwise conveyed to a direct
competitor (or any affiliate thereof) of MasterCard in any aspect of
the payment card processing industry, MasterCard may, at its option,
terminate this Agreement on six (6) months written notice. Termination
pursuant to this paragraph shall not relieve ABNH or its successor in
interest of the obligation to make all payments specified in paragraph
23 (as provided herein), which shall become immediately payable in
full upon MasterCard’s exercise of its option to terminate. |
Killernut
Registered Member
Username: Killernut
Post Number: 5099
Registered: 10-2003
| | Posted on Monday, December 10, 2007 - 06:08 pm: |
|
Certain portions of this exhibit have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934. The omitted materials have been filed separately with the Securities and Exchange Commission.
Amendment No. 4 to Hologram Agreement
This Amendment No. 4 to the Hologram Agreement dated as of February 28, 2003 (as amended pursuant to Amendment No. 1 dated as of September 29, 2003), Amendment No. 2 dated as of March 25, 2005 and Amendment No. 3 dated as of August 24, 2005) (the “Agreement”) by and between MasterCard International Incorporated, a Delaware corporation with offices at 2000 Purchase Street, Purchase, New York 10577-2509 (“MasterCard”), and American Bank Note Holographics, Inc., a Delaware corporation with offices at 2 Applegate Drive, Robbinsville, NJ 08691 (“ABNH”), is made as of December 4, 2007.
The parties to the Agreement, in consideration of the mutual promises, covenants, and conditions set forth herein, agree as follows:
1.0 The Agreement is hereby amended by adding a new section 23.0 as follows:
23.0 ABNH Sponsorship of MasterCard Security Conferences
MasterCard and ABNH hereby agree that ABNH shall be a Preferred Partner Sponsor of MasterCard Security and Risk Conferences worldwide (the “Conferences”) from the date of execution of this Agreement through December 31, 2012. ABNH shall be provided with prominent exhibit space at the Conferences to display ABNH promotional materials, and to offer ABNH products to MasterCard partners including banks and card manufacturers attending the Conferences. MasterCard shall recognize ABNH as a Preferred Partner Sponsor at the Conferences, and on related marketing materials. Further, ABNH shall have the right to promote its sponsorship of the Conferences on its own website and in collateral materials and in press releases, subject to prior review and approval by MasterCard. MasterCard currently holds approximately five security and risk conferences per year which are widely attended by MasterCard partners worldwide. MasterCard may change the frequency, location or content of its conferences at any time at its discretion. ABNH shall pay MasterCard a sponsorship fee of $125,000 per quarter, payable prior to the last day of each calendar quarter, with the first payment of $125,000 due prior to December 31, 2007 (for the 4th quarter of 2007), and the last required payment due on or before December 31, 2012. Should the Hologram Agreement be terminated for any reason other than a breach by MasterCard, including the
--------------------------------------------------------------------------------
exercise by MasterCard of the option described in paragraph 6.0 hereof, all sums payable hereunder shall be accelerated and immediately payable in full upon termination. ABNH shall be responsible for its own transportation and lodging expenses associated with attending MasterCard conferences, but shall not be charged any other fees by MasterCard in connection with sponsoring and attending MasterCard conferences.
2.0 The Agreement is hereby amended by adding a new section 24.0 as follows:
24.0 Approval of new hologram formulation and adhesive
MasterCard has evaluated a new hologram formulation and adhesive supplied by ABNH that is intended to have superior adhesion to PET-G and certain other substrates (the “PETG hologram”). ABNH hereby waives the minimum order requirements of Section 3.1 hereof and the parties hereby confirm that the price per hologram of the PETG hologram formulation shall be the same as the standard hologram in accordance with Section 5.0 hereof. ABNH shall produce the PETG hologram in response to orders from MasterCard under the same terms and conditions as the standard hologram. All such PETG holograms shall meet ANSI/ISO specifications and standards (as the case may be) and all other performance requirements specified in the Agreement.
3.0 The Agreement is hereby amended by adding a new section 5.4 as follows:
5.4 Volume growth incentive
MasterCard and ABNH agree that, effective January 1, 2008, and for each full calendar year of this Agreement, in the event that MasterCard orders more than [*] holograms in a calendar year, then any holograms ordered in excess of [*] in that year shall be sold at a price per hologram of $[*] ($[*] per reel). For the purposes of this Section, all holograms and HoloMag™ ordered by MasterCard shall be counted in the calculation, and the reduced price shall apply to those holograms sold in excess of [*] per calendar year. For the purposes of this calculation, any HoloMag ordered by MasterCard shall be counted at the rate of 3 holograms per linear foot (i.e., a 4,000 foot reel of HoloMag shall be counted as 12,000 holograms). For the avoidance of doubt, all holograms ordered by MasterCard up to [*] holograms in a calendar year shall continue to be sold at the price of $[*] per hologram ($[*] per reel) in accordance with Section 5.1.
--------------------------------------------------------------------------------
* Confidential
2
--------------------------------------------------------------------------------
4.0 The Agreement is hereby further amended as follows:
HoloMag Generation 1 – Amendment No. 3 to the Agreement provides for the supply of HoloMag by ABNH to MasterCard. MasterCard decided to discontinue the use of HoloMag due to the impact of electro-static discharge (“ESD”) on certain payment terminals. Each party has incurred direct and indirect costs associated with the launch of HoloMag, the ESD issue and the termination of the HoloMag program, including without limitation, the items described in MasterCard’s letter to ABNH dated October 19, 2007. Except for the obligations specifically set forth in this Amendment, ABNH and MasterCard, for themselves and their respective agents, employees, parent companies, subsidiaries, officers, directors, attorneys, insurers, representatives, partners (either limited or general), predecessors in interest, assigns, and successors do hereby forever release, acquit, and fully discharge each other and each of their respective agents, employees, parent companies, subsidiaries, officers, directors, attorneys, insurers, representatives, partners (either limited or general), predecessors in interest, assigns, and successors of and from any and all manner of action or actions, cause or causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises, liabilities, claims (including, but not limited to, claims for attorneys’ fees, costs, and sanctions), damages, demands, losses, costs, or expenses of any nature, character, description, either direct or consequential, whether now known or unknown, vested or contingent, suspected or unsuspected, and whether or not concealed or hidden, which they may have now, may have had at any time heretofore, or may have at any time hereafter, arising from, resulting from, or related to the HoloMag product supplied under the Agreement through the date hereof (the “Released Claims”). With respect to the aforementioned releases, the Parties expressly acknowledge and agree that this Amendment fully and finally settles and forever resolves all of the Released Claims between ABNH and MasterCard, even those which are unknown, unanticipated or unsuspected, or those which may hereafter arise as the result of the Parties’ alleged wrongful conduct prior to entry into this Amendment related in any way to the Released Claims. For the avoidance of doubt, the release set forth in this paragraph does not extend to any party that is not referred to herein or that either Party has no authority to bind.
HoloMag Generation 2 – ABNH has supplied MasterCard with samples of its Generation 2 HoloMag product which MasterCard has tested. MasterCard’s testing has confirmed that ABNH’s Generation 2 HoloMag effectively eliminates ESD, and preserves the security and design attributes of the HoloMag product. MasterCard is considering Generation 2 HoloMag for future deployment on MasterCard branded cards. In the event MasterCard deploys Generation 2 HoloMag, the pricing shall be $[*]/reel for 2-track tape and $[*]/reel for 3-track
--------------------------------------------------------------------------------
* Confidential
3
--------------------------------------------------------------------------------
tape, FOB ABNH, for any standard order of HiCo or LoCo tape for PVC cards placed by MasterCard regardless of the size of the order. A standard reel is 4000 feet long. ABNH may supply HoloMag reels in different sizes which will be priced pro rata on a per foot basis with the aforementioned prices.
5.0 ABNH represents to MasterCard that, with the exception of the Released Claims, ABNH is not currently aware of facts to suggest that MasterCard is not in compliance with all of its obligations owed to ABNH under the Agreement, including but not limited to, payment obligations. MasterCard represents to ABNH that, with the exception of the Released Claims, MasterCard is not currently aware of facts to suggest ABNH is not in compliance with all of its obligations owed to MasterCard under the Agreement, including but not limited to the obligation that holograms currently being sold by ABNH to MasterCard conform to MasterCard specifications, as set forth on Exhibit A of the Agreement.
6.0 It is hereby understood and agreed that if, at any time, the majority of the shares of ABNH or substantially all of its assets should be sold, transferred or otherwise conveyed to a direct competitor (or any affiliate thereof) of MasterCard in any aspect of the payment card processing industry, MasterCard may, at its option, terminate this Agreement on six (6) months written notice. Termination pursuant to this paragraph shall not relieve ABNH or its successor in interest of the obligation to make all payments specified in paragraph 23 (as provided herein), which shall become immediately payable in full upon MasterCard’s exercise of its option to terminate.
7.0 The parties agree that except as set forth herein, the Agreement shall remain unchanged and in full force and effect. In the event that either party merges with or into another entity, the rights and obligations of each party under the Agreement shall continue and inure to the benefit of the surviving entity.
8.0 This Amendment shall in all respects be governed, interpreted and enforced in accordance with the internal laws of the State of New York without reference to principles and conflicts of law, whose courts sitting in New York County or Westchester County shall have sole jurisdiction in all claims.
IN WITNESS WHEROF, the parties hereto have caused this Amendment to be duly executed as of the day and year first above written. |
Killernut
Registered Member
Username: Killernut
Post Number: 5098
Registered: 10-2003
| | Posted on Monday, December 10, 2007 - 06:03 pm: |
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Item 1.01 Entry into a Material Definitive Agreement.
On December 4, 2007, American Bank Note Holographics, Inc. (the “Company”) entered into Amendment No. 4 (the “Amendment”) to its Hologram Agreement, dated February 28, 2003, with MasterCard International Incorporated (“MasterCard”). Pursuant to the terms of the Amendment, among other things, the Company will pay a sponsorship fee to act as a paid Preferred Partner Sponsor of MasterCard Security and Risk Conferences. The sponsorship fee is $125,000 per quarter for 21 quarters, and is payable beginning with the fourth quarter of 2007. In addition, the Amendment provides for reduced hologram pricing in the event that aggregate annual hologram volumes increase above specified volumes which are approximately equal to estimated 2007 volumes and a mutual release of all issues relating to the Company’s Generation 1 HoloMag product, including those referenced in MasterCard’s notice to the Company disclosed in Item 8.01 of the Company’s Form 8-K, dated October 23, 2007. A copy of the Amendment is furnished herewith as Exhibit 10.1. |
Coach_98133
Registered Member
Username: Coach_98133
Post Number: 53
Registered: 01-2004
| | Posted on Monday, December 10, 2007 - 05:07 pm: |
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Edgar Online TODAY:
ABHH.OB > SEC Filings for ABHH.OB > Form 8-K on 10-Dec-2007
Mastercard agreement??????????????? COACH |
Slip_60
Registered Member
Username: Slip_60
Post Number: 719
Registered: 10-2003
| | Posted on Saturday, December 08, 2007 - 05:25 pm: |
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Jslopi - not sure. But the board was expanded to take on two that directly represent investors, and IMHO this is good for shareholders. I believe that if the business continues to perform, it is only a matter of time for appreciation. Conversely, if business declines, the value will follow. |
Jslopi
Registered Member
Username: Jslopi
Post Number: 87
Registered: 10-2003
| | Posted on Saturday, December 08, 2007 - 05:08 pm: |
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Slip - good point! But even under the Global Market, using Standard 1, don't they already qualify? Only Standard 3 has the 90 day price share limitation.
J |
Slip_60
Registered Member
Username: Slip_60
Post Number: 718
Registered: 10-2003
| | Posted on Saturday, December 08, 2007 - 01:01 pm: |
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Jslopi, Why go for the "Small Cap Market". Be patient and ABNH will be a member of the full fledged NASDAQ.
NASDAQ SMALLCAP MARKET IS RENAMED
NASDAQ CAPITAL MARKET
New York, September 27, 2005 — The Nasdaq Stock Market, Inc. (NASDAQ: NDAQ) today announced it has renamed the NASDAQ SmallCap Market. Going forward it will be known as the NASDAQ Capital Market. NASDAQ filed the name change with the Securities and Exchange Commission (SEC) on September 13, 2005 and it is effective today. |
Jslopi
Registered Member
Username: Jslopi
Post Number: 86
Registered: 10-2003
| | Posted on Saturday, December 08, 2007 - 12:31 pm: |
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As I read the Standards for listing, that 90 day requirement is only is Standard 2 is chosen.
As such, hasn't ABHH met all the Capital Market requirements since the minimum bid price is 4?
ABHH has been above 4 since closing on July 12th - 105 consecutive trading days.
J |
Slip_60
Registered Member
Username: Slip_60
Post Number: 717
Registered: 10-2003
| | Posted on Thursday, December 06, 2007 - 10:14 pm: |
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The two new additional members of the board are affiliated with large investors and I am sure will push to do what is most beneficial for the companies stock price. RJ - I do not think Ken can control this and I think you are pointing a broken finger. |
Jslopi
Registered Member
Username: Jslopi
Post Number: 85
Registered: 10-2003
| | Posted on Thursday, December 06, 2007 - 06:27 pm: |
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I just looked at the NASDAQ listing requirements - 3 categories - Global Select Market, Global Market, & Capital Market. The least restrictive is the Capital Market - unless there is something else.
From the requirements:
Seasoned companies (those companies already listed or quoted on another marketplace) qualifying only under the market value of listed securities requirement must meet the market value of listed securities and the bid price requirements for 90 consecutive trading days prior to applying for listing.
http://www.nasdaq.net/PublicPages/ListingQualifications.aspx
http://www.nasdaq.com/about/nasdaq_listing_req_fees.pdf
J |
Cmac
Registered Member
Username: Cmac
Post Number: 317
Registered: 03-2004
| | Posted on Thursday, December 06, 2007 - 04:40 pm: |
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ABHH has been at or above $5.00 for 27 consecutive trading days. Doesn't it take 30 before they can apply for listing? |
Celtic1967
Registered Member
Username: Celtic1967
Post Number: 69
Registered: 10-2003
| | Posted on Thursday, December 06, 2007 - 04:24 pm: |
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Rjo,
I brought up the question of a stock listing at the end on November and there was no response. I feel the same as you. This firm could have been listed by now which, if history is anything to go by, would give the Firm more exposure and positively impact the share price. Of course if our CFO is more focused on his options than our shares......
Celtic1967 |
Rjo
Registered Member
Username: Rjo
Post Number: 630
Registered: 10-2003
| | Posted on Thursday, December 06, 2007 - 11:46 am: |
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Have not seen any discussion on ABHH getting listing on Nasdaq lately. Isn't this something that was discussed positively by CEO at a prior year shareholder meeting and now is fully achievable. I bring it up as it seems to me that CEO is more interested in bailing out with all his options than taking this company to the next level by listing on Nasdaq. (via change of ownership clause)
IMHO
RJ |
Slip_60
Registered Member
Username: Slip_60
Post Number: 716
Registered: 10-2003
| | Posted on Wednesday, December 05, 2007 - 01:00 pm: |
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Many changes to the ABNH website. Includes the elimination of reference to a Crane partnership, the displaying of Bicardi Rum Packaging, among other things. |
Slip_60
Registered Member
Username: Slip_60
Post Number: 715
Registered: 10-2003
| | Posted on Sunday, December 02, 2007 - 12:10 pm: |
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The November issue of Holography News views ABNH's 3rd Q as "Strong"
http://www.holographynews.info/ |
Slip_60
Registered Member
Username: Slip_60
Post Number: 714
Registered: 10-2003
| | Posted on Sunday, December 02, 2007 - 11:11 am: |
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see2see - I view it as a positive if 150k trades within a short time with no large change in price. It seems like it may be a pre-arranged trade. Maybe Crane is finally doing a little of what they previously stated they wanted to do (You do remember what they filed a few years ago?). |
See2see
Registered Member
Username: See2see
Post Number: 88
Registered: 10-2003
| | Posted on Saturday, December 01, 2007 - 08:15 pm: |
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What does that 150000 share trade mean? Somebody wanted out of a 150000 share position. Who and why? |
Trimble
Registered Member
Username: Trimble
Post Number: 153
Registered: 09-2004
| | Posted on Saturday, December 01, 2007 - 02:46 pm: |
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Slip that's what I saw, almost 150,000 shares at 5.22....... |
Slip_60
Registered Member
Username: Slip_60
Post Number: 713
Registered: 10-2003
| | Posted on Friday, November 30, 2007 - 09:25 pm: |
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Did 150k shares trade at the end of day? |
See2see
Registered Member
Username: See2see
Post Number: 87
Registered: 10-2003
| | Posted on Thursday, November 29, 2007 - 11:26 pm: |
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Celt, there is almost nothing that I would like to see more than a real listing. In the past I have always had large gains in the months after a stock regains a real listing from the pink sheets or the BB. Of course the companies have usually undergone a turn around from what was often a near death experience, but the several months after gaining a listing have been very lucrative in my experience. Seeing 50 to 100% gains is not unusual, but rather typical of what I have experienced. |
Celtic1967
Registered Member
Username: Celtic1967
Post Number: 68
Registered: 10-2003
| | Posted on Thursday, November 29, 2007 - 01:24 pm: |
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Has the company made any further announcements about it's intentions to get traded on an exchange. I remember talk of that when the stock was up over $6 (before the visa fiasco) but I don't recall any mention of it since.
Celtic1967 |
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