Phil Frohlich, China Marine Food Group: Phil Frohlich and his hedge fund Prescott Group Capital Management recently reported buying 711,607 shares of China Marine Food Group Ltd (NYSEMKT:CMFO). In a form 4 filing, Prescott disclosed six transactions, following which its exposure in the company went up to around 5.5 million shares. The prices of the deals are around $0.2 per share.
Prescott purchased additional shares of the company right after China Marine Food Group said that its Board of Directors decided to volunary delist the company from the NYSE MKT and deregister it from the reporting requirements of the Securities Exchange Act of 1934. The delisting is possible, since the company has less than 300 shareholders and it is expected to be completed by November 11.