SEN - Senetas Corporation

[Fab]

I just talked to their investor line and they mentioned that they are in trading suspension because they are waiting for a contract to signed for the value of $25 000 000 at 0.55 cents per share. Until the money is in the bank and everything is done signed and deliver I believe the share will be in suspension. Looks to me that they will be some upside when it re-open but probably not as much as I would have like as 0.55 might be the limit . Sounds all positive to me anyway

 

[constable]

sen ann

 

[Fab]

Coming soon but before they need to trade again. Hopefully all the waiting game will have been worthwhile

 

[Fab]

This one should come out of trading suspension today or tomorrow. This should be very interesting

 

[24797]

Has anyone else heard the trading suspension was a result of a deal that would see Senetas's U.S partner, Safenet taking over Senetas and offering one of their shares for every 20 of ours as well as 30 cents per Senetas share?

 

[constable]

Has anyone else heard the trading suspension was a result of a deal that would see Senetas's U.S partner, Safenet taking over Senetas and offering one of their shares for every 20 of ours as well as 30 cents per Senetas share?

what's "1 of their shares" worth ?

 

[constable]

Has anyone else heard the trading suspension was a result of a deal that would see Senetas's U.S partner, Safenet taking over Senetas and offering one of their shares for every 20 of ours as well as 30 cents per Senetas share?

Sounds like fiddle faddle to me. safenet shares are worth $22.81 which would mean , with what your rumour is saying they are offering 3x the last close price! Is there an ounce of credibility to your rumour?

 

[Fab]

Does not sound right to me. Where did you get this infomation from ?
We should know tomorrow at the latest anyway. A form 484 has just been released my understanding of this form is someone got allocated or bought over 296000 SEN shares.

 

[bigdog]

Fab you picked it right

SEN ANN just issued for form 484 "Change to company details"

Issue of 296687 shares at .455

 

[slimdusty96]

We should know tomorrow at the latest anyway.

I would hope so, though it's only an anticipated date, which mean we might have to wait further.... :whip

 

[bigdog]

I have been researching Investorvillage forum links for Safenet in the US
http://www1.investorvillage.com/smbd.asp?mb=3716&clear=1&pt=m


Safenet has a few problems in the US:
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where investigation of the the Company's stock option granting practices conducted

http://biz.yahoo.com/ap/060928/safenet_restatement.html?.v=1
Safenet Sees Restatement Charges of $20M
Thursday September 28, 11:27 am ET
Safenet Expects Charges of Under $20M for Option-Related Restatement for 2000 to 2005

WASHINGTON (AP) -- Safenet Inc., a provider of security software, said Thursday in a regulatory filing that the total non-cash charges it expects to include in upcoming financial restatements should be less than $20 million for the period 2000 to 2005.
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Investorvillage forum links to read if interested by "arbpro"
http://www1.investorvillage.com/smbd.asp?mb=3716&clear=1&pt=m&SearchBy=AuthorID&SearchFor=24287

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There are also problems when strategic partner Senetas reports a royalty shortfall from its licensee, SFNT, there is actually objective to suggest that SFNT will disappoint again. With this group, anything is possible.

http://www1.investorvillage.com/smbd.asp?mb=3716&mn=36&pt=msg&mid=447040
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Suggested mis-calulations o royalities

http://www1.investorvillage.com/smbd.asp?mb=3716&mn=39&pt=msg&mid=449998

Very interesting. Thanks for the information. Remember about a year ago when IBM/SFNT were rumored joined at the hip? Nothing came of those rumors that I know. Now SEN. I wouldn't be surprised at anything SFNT management does or doesn't do, but intentionally miscalculating royalties to drive the price of SEN down for a buyout would be asking for jail time. I know 2 things about Caputo; one, he wants as much money in his pocket as possible, but two, he knows he can't spend it in jail. So I would say the possibility of royalty understatement to manipulate the market value of SEN is highly unlikely. Obviously the volume in SEN today, with the stock moving only slightly, says nobody really knows what is going on with SEN

 

[Fab]

I am expecting SEN to start trading again today

 

[Fab]

Still not trading ?!!!!

 

[slimdusty96]

Doesn't surprise me; I generally take the phrase "It is anticipated that...." fairly lightly; more waiting for now.... :sleeping: , but I would say it's worth it.

 

[Flathead Flick]

Still not trading ?!!!!

I've just joined this forum and read through all the SEN posts. Unfortunately, I know how you guys feel - I went through this myself in 2000/01. SEN is dodgy at best.

Look into the history of the company and the directors. They have done this before to investors and will do it again. You are being taken for a ride with their rumours and 'announcements' so they can make some cash. I will say no more.

FF

 

[SevenFX]

SEN is dodgy at best.

Look into the history of the company and the directors. They have done this before to investors and will do it again. You are being taken for a ride with their rumours and 'announcements' so they can make some cash.

I will say no more.

FF

That's funnnnnny, you won't need to say anymore, as I'm sure all those holding would be more stressed if you did...ouch

EDIT: FF don't get me wrong I'm not having a go at you, esp because your new, but some people may have a lot of money riding on this, and any information crediting/discrediting should really be back up if it needs to be said, so theirs no unneccessary panic selloff when it opens.

 

[constable]

I've just joined this forum and read through all the SEN posts. Unfortunately, I know how you guys feel - I went through this myself in 2000/01. SEN is dodgy at best.

Look into the history of the company and the directors. They have done this before to investors and will do it again. You are being taken for a ride with their rumours and 'announcements' so they can make some cash. I will say no more.

FF

Ff im interested in some fact to support these notions you have!

 

[bigdog]

Two ASX ANN for SEN

1. Update
The Senetas Board of Directors are considering further terms of the capital raising transaction, as a result, the company has requested an extension of the suspension period. The company is confident that it will be in a position to make an announcement on or before the 22 November 2006.
The Annual General Meeting of the company is to be held on the 23 November 2006.


2. Shareholder News
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00668188

 

[constable]

Ff im interested in some fact to support these notions you have!

Here mr facty facty, are you there mr facty facty?.....im over here now mr facty!

 

[Kauri]

Is this the same company that blew its share registry out to over 1 billion shares by issuing script all over the shop before having a share consolidation??