September 2010
September 29, 2010 –
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RELATED TICKERS: GKNT
, YHOO
, BBY
(September 29, 2010) [Update4] Is Kenneth Langone about to teach Silicon Valley's VC's and Super Angels how its done? Geeknet (GKNT) Closes 9/29 at 52-week high on 4.4X ADV (3 mo). ThinkGeek (GKNT) Announces $49.99 TK-421 QWERTY Keyboard for iPhone. GKNT IPO pending?
ThinkGeek's TK-421 iPhone keyboard could be huge (delivery 11/23, invented at ThinkGeek, covered by Gizmodo and Engadget out of the gate (9/22), should be strategically aligning with majors (AT&T, Walmart, Costco, BBY...)? but there is an issue ThingGeek should proactively/immediately address/mitigate. [more]
September 27, 2010 –
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RELATED TICKERS: GKNT
, YHOO
, BBY
[more]
September 26, 2010 –
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RELATED TICKERS: GKNT
, YHOO
, BBY
This could be huge (delivery 11/23, invented at ThinkGeek, covered by Gizmodo and Engadget out of the gate (9/22), should be strategically aligning with majors (AT&T, Walmart, Costco...)? but there is an issue ThingGeek should proactively/immediately address/mitigate. [more]
September 26, 2010 –
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RELATED TICKERS: GKNT
, YHOO
, BBY
This could be huge (delivery 11/23, invented at ThinkGeek, covered by Gizmodo and Engadget out of the gate (9/22)...or will the joke be on ThinkGeek? [more]
September 24, 2010 –
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RELATED TICKERS: GKNT
, IBM
, BBY
[more]
September 17, 2010 –
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RELATED TICKERS: YHOO
, BBY
, GKNT
Geeknet (GKNT) Files SEC Form 8-K (1) 9/15...KPMG in...Stonefield Josephson out. Geeknet off diapers...into big boy pants. Kenneth Langone is Kicking A$$ and Taking Names. [more]
September 16, 2010 –
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RELATED TICKERS: GKNT
, IBM
, BBY
Geeknet (GKNT) Files SEC Form 8-K 9/15...KPMG in...Stonefield Josephson out. Geeknet off diapers...into big boy pants. Kenneth Langone is Kicking A$$ and Taking Names. [more]
September 13, 2010 –
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RELATED TICKERS: GKNT
, IBM
, YHOO
"...Reasons for the Reverse Stock Split
The Board of Directors believes that a reverse stock split of the outstanding Common Stock and corresponding reduction in the total number of authorized shares of Common Stock may be desirable for a number of reasons.
Potential Increased Investor Interest . The Board of Directors believes that the increased market price of the Common Stock expected as a result of implementing a reverse stock split and corresponding reduction in the total number of authorized shares of Common Stock will improve the marketability and liquidity of the Common Stock and will encourage interest and trading in the Common Stock. Many brokerage houses and institutional investors have internal policies and practices that either prohibit them from investing in low-priced stocks or tend to discourage individual brokers from recommending lower-priced stocks to their customers. In addition, some of those policies and practices may function to make the processing of trades in low-priced stocks economically unattractive to brokers. Moreover, because brokers’ commissions on low-priced stocks generally represent a higher percentage of the stock price than commissions on higher-priced stocks, the current average price per share of Common Stock can result in individual stockholders paying transaction costs representing a higher percentage of their total share value than would be the case if the share price were substantially higher. Although it should be noted that the liquidity of the Common Stock may be harmed by the proposed reverse split given the reduced number of shares that would be outstanding after the reverse stock split, the Board of Directors is hopeful that the anticipated higher market price will reduce, to some extent, the negative effects on the liquidity and marketability of the Common Stock inherent in some of the policies and practices of institutional investors and brokerage houses described above.
Preferred Stock . The Board of Directors believes that, with a reduction in the total number of authorized shares of Common Stock as contemplated herein, the total number of authorized shares of Preferred Stock can also be adjusted from 10,000,000 to 1,000,000 so as to eliminate unneeded authorized shares of Preferred Stock.
Decreased Stock Price Volatility . The Board of Directors believes that the increase in the stock price that it expects to result from the reverse stock split may decrease price volatility, as small changes in the price of the Company’s Common Stock currently result in relatively large percentage changes in the stock price.
Decrease the Company’s Costs . The Board of Directors believes that the reduction in authorized shares of Common Stock and Preferred Stock would also reduce certain of the Company’s costs, such as annual franchise taxes paid to the State of Delaware.
The Board of Directors does not intend for this transaction to be the first step in a series of plans or proposals of a “going private transaction” within the meaning of Rule 13e-3 of the Exchange Act..." [Emphasis added]
Source:
Form Type: PRE 14A
Filing Date: 9/13/2010
Description: Proxy Statement - Notice of Shareholders Meeting (preliminary) [more]
September 13, 2010 –
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RELATED TICKERS: GKNT
, BBY
, IBM
Day 11. Kenneth Langone Continues Buying Spree of Geeknet (GKNT) Shares...as R&D is Cut, Geek.net dated across entire website (visitor stats to events to press), SourceForge gutted, 25% staff cut internally announced early June, What is Langone's Endgame? [more]
September 09, 2010 –
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RELATED TICKERS: GKNT
, BBY
, AMZN
[more]
September 04, 2010 –
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RELATED TICKERS: GKNT
, BBY
, YHOO
[more]
September 04, 2010 –
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RELATED TICKERS: GKNT
, BBY
, YHOO
Kenneth Langone delivers on promise of Geeknet (GKNT) SourceForge Layoffs...R&D Spending Down From 16.6% for 6 mo ending June 30 2009 vs 10.5% same period 2010. [more]
September 03, 2010 –
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RELATED TICKERS: GKNT
, BBY
, YHOO
ThinkGeek's Brand New Warehouse
ThinkGeek's Brand New Warehouse! From: thinkgeek | September 03, 2010 | 301 views Loading... ThnkGeek [sic] moved to a brand new state-of-the-art semi-robotic warehouse in Ohio! Come and watch the boxes flow! [more]
September 03, 2010 –
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RELATED TICKERS: GKNT
, BBY
, YHOO
September 1, 2010 Geeknet (GKNT) Shares were up 4.8% on 3.4X ADV... [more]
September 02, 2010 –
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RELATED TICKERS: GKNT
, BBY
, YHOO
Geeknet (GKNT) Shares up 4.8% on 3.4X ADV...Story Developing...
September 02, 2010 –
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RELATED TICKERS: GKNT
, BBY
, YHOO
Geeknet (GKNT) Shares up 6.2% on 3.4X ADV...Story Developing...
September 01, 2010 –
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RELATED TICKERS: GKNT
, BBY
, YHOO
Day nine. Kenneth Langone Continues Buying Spree of Geeknet (GKNT) Shares...as R&D is Cut, Geek.net dated across entire website (visitor stats to events to press), SourceForge gutted, 25% staff cut internally announced early June, What is Langone's Endgame?
(September 1, 2010) Total direct holdings climb to 627,461 after acquiring another 7,700 shares today, September 1st, on the open market. [more]
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