A SEEK conspiracy theory
So I did some more DD on Fife. You can go to the SEC's Edgar site and do an advanced search for 13G forms containing the name "John M. Fife," which brings up page after page of 13G's almost identical to the one he did with SEEK (i.e. the 9.99% deal with the same language in the footnote). I then took the 20 or so most recent of those and checked out the charts for each of the tickers, looking at the date when Fife bought in and what happened afterward.
Without fail, virtually every single stock is trading way, WAY lower than it did when he arrived. Some of them dropped immediately, some stayed flat for awhile or even had a spike and then huge dumping, and a few of them experienced a more extended climb for a bit before then long decline began (tee bee EV is a good example). Also, on the way down, there were often good opportunities for a flip, but most of the tickers Fife bought into were trading much higher than SEEK at the time he got in. IMO the chart that should worry SEEKers the most is that of "E-H-oh-ess". Fife took his stake on 9/10/14 when the stock was trading, like SEEK, at .0010. I'll let you see what happened next. Go check out some of the others from Edgar too. Not a lot to instill confidence there.
Anyways, I have also been puzzling over SEEK's predicament. It had a ton of debt and just over a billion more shares to sell, and now it's got another 400k owed to TCA global and Fife has 400+ million shares. I don't see how they are going to be able to dump all that at these levels before they can R/S in 2015 (because "no R/S in 2014" right!) without completely crashing the PPS down to no bid. Plus there's probably not enough room in the A/S to clear all the debt at these prices.
So since SG/Fife/TCA Global are going to need some good volume to dump into and preferably a higher PPS, and since SEEK has lost all its momo over the summer and its financials are terrible and the recycled "Ad Tec Conference" PR and a new launch date just don't seem to be working on the old players, they need to sucker in some fresh money to dump into the rest of the year IMO. And how do you do that? Well, a good old-fashioned paid promo pump!
Now here's part 3 of the conspiracy theory. One curious thing that popped up on October 1 was that someone just showed up here randomly and made one post about SEEK being a "bigmoneymike" pump and dump scheme. I followed that to Twitter, where "bigmoneymike" had made two posts that day (Oct. 1) about how he was bidding 30 million or something on SEEK. He hasn't mentioned the ticker again, but if you look at the chart on October 1-3, that is when some serious dumpage occurred into the bid and many speculated that a group was loading.
Now yesterday BMM starting tweeting about how this thursday night (i.e., tonight) he is going to be releasing "the greatest pick in all of penny stock ever" or some fluff like that (his twitter feed is hilariously awful to read). Apparently StockMister and some other big pump-and-dump promo dude are going to be in on it as well. I wouldn't have noticed it or thought anything of it if it weren't for that odd mention of SEEK a couple weeks ago and then silence...
So, putting it altogether, it seems plausible to me that SG/Fife/TCA would get together, individually or separately, and pay for some promotion on this ticker to get volume to dump into before a R/S. If you look at BMM picks, they do bring in volume! Of course, they also then crash spectacularly and he moves on to the next one (check out his latest $-$-F-I, which he alerted at .15 I believe). Same thing with most of StockMister's picks... and his disclaimer says he gets paid $30k for a promo too.
Still, if -- and this is a huge IF -- SEEK were to turn out to be the next BMM pick tonight, then we would almost certainly see a huge run Friday and going into Monday IMO, followed immediately, or a few days or week or so later, by a crash back down to the trips and a half billion or so more shares in the float.
Anyway, just thought I would share that lest people think I am just a basher here. Don't get me wrong, I still think SEEK is a failing company with an outdated model and an incompetent CEO, but these are the pinks, and we all know what a pump can do. I might even buy a couple hundred thousand shares today as a lotto ticket, and sell them tomorrow or monday regardless of what happens.
In any case, be alert longs, IMO this might be your last chance to get out with some decent gains before the R/S! And if BMM's pick is something else, well then I return to my previous expectation of continued dumping with a possible spike to the mid- to high teens before the end of the year.
Good luck all ;)
