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The P/R , which was signed by Mr. Ellis, is clear in stating that the technical team was compensated by BOLV stock for turning over to BMC all the mining projects and providing employment to fulfill the employment contract. All the mining projects would remain with Bolivar mining after the team resigned. Otherwise, there would be a breach of contract should these people attempt to do something with the projects after they left.
Please be careful in the future what you post.
I am going off the PR Mr Ellis released about their resignation.
It was my understanding that Mr. Ellis and the other members of the technical team received compensation in the form of BOLV stock for turning projects over to BOLV and for employment. You are bringing up a legal issue that we are not party to.
Mr. Ellis is no longer employed by Bolivar Mining. We are not privy to what the technical team assigned over to the company as part of their employment arrangement. I assume this will be covered in a future PR. Let's hope for the best.
The GA project and all others except for the annouced China Joint Venture left with the technical team when they resigned. Feel free to call Mr. Ellis who put the PR out.
BMC is Bolivar Mining Corp. or BOLV. Some of the background people with BOLV have been involved with big oil & gas projects. I hope to encourage this company to form an oil & gas subsidiary at the appropriate time. The project I am most excited about is the one BOLV is working on in central Georgia.
Did you mean BOLV?
Looking for a nice positive gain here as well.
Best to you. =)
http://stockcharts.com/charts/candleglance.php?bolv
BMC is trading. Volume will increase as BMC complies with SEC document requests. BMC is an actual mining company. They have what they say they have based on public statements by the BMC technical team before and after the temporary suspension.
Exchange Mobile - EXMT , the sister company, is very close to complying with all SEC document requests. This comes from parties who are in contact with EXMT. The accumulation/distribution line (A/D) and Chaiken money flow index (CMF) are decisively bullish which indicate EXMT is ready to take off.
I have a substantial position in BMC. I have not sold any shares.
interesting. I heard that there is mining in China.
Is this company an actual mining company or is it a scam? What is going on here?
What a mess. Is this stock trading or what? Nothing seems to be happening
This is what happened to Bolivar Mining and its sister company Exchange Mobile EXMT. We as investors need to understand what is taking place by those who are short selling the shares. Does this seem to be what we are experiencing with this stock:
According to spamnation.com they explain the process.
"What's a "short-and-distort" scheme?
In a "short-and-distort" scheme, fraudsters manipulate the share price of a company by spreading negative information about it. They begin by 'shorting' the stock - that is, selling borrowed stock in the expectation that the price will subsequently fall, allowing the stock to be repurchased at the lower price. The difference between the price that the stock was sold at and the price at which it is repurchased determines the seller's profit.
To make the scheme work, the scammers must ensure that the price will indeed fall after they've sold the stock. They do this by spreading negative information about the company, sometimes true, sometimes false.
Speculators could theoretically alternate "pump-and-dump" with "short-and-distort", going through repeated buy-sell cycles, using positive information to drive up the share price and negative information to drive it down....."
I personally believe this is the situation with both companies and nothing more.
we might see that but it won't get us back to pink status, only a 15c211 will.
Arshad Shah, President and CEO of Bolivar Mining is also President and CEO of Exchange Mobile - EXMT.PK. The later company was also the subject of spamming its stock on the internet. Here is Mr. Shah's response, in a PR to shareholders on August 21, 2007. "Arshad Shah, President and CEO of Exchange Mobile OTC EXMT announced that Exchange Mobile has not been in any way involved in the spamming of its stock on the internet. Neither the board nor the management of Exchange Mobile has approved any of the E-mails sent out in the company's name and any attachments with the company's news releases.
The company also announces that it has not authorized any person or persons, company/s, or any third parties to alter, add or delete any content from its news releases.
Exchange Mobile will assist authorities in any way necessary in stopping these spamming campaigns."
Perhaps, we will see a forthcoming PR from Bolivar Mining stating the same identical thing.
Does anyone know the O/S or public float. There may have been dilution of shares since the R/S. Any thoughts on what BMC will do with their mining properties?
The SEC halts these due to some form of spam, which is what they're doing to many companies they suspect of sending it.
BOLV was the subject of SPAM, British Columbia halted it for the same reason in December.
buyins.net==a scam imho. don't ever use such a paranoid promo company to make money. the reason (if any did at all) ppl shorted this stock was they knew it was a scam from day one. heck it wouldn't surprise me if insiders naked shorted the stock themselves.
the better way: don't invest in pink sheet companies nor waste time with them!
I am also not happy about how BMC or the predecessor company was promoted. The technical team of BMC, when it resigned on 1/29, stated that they brought to BMC "the mineral and exploration projects themselves (except for those within China itself)." The technical team had issues over the practices of the company not the viability of the projects themselves. The direction of the stock price was down after the R/S. All that the excessive promotion did was moderate the steepness of the slide down due to NAKED SHORT or SHORT selling. We will soon find out the direction BMC is headed. The squeeze trigger price to cover the NAKED SHORTS is .04 according to Buyins.net.
i'm not; imho stock was halted because the promoters have a history with the sec. not a good history mind you. vancouver was notorious for pump and dump scams in the 90's and many of these players, after the tsx.v took over the vse, moved to pink sheet promotions. I have a feeling the only gold bolivar mines is to be found in pawn shops or on the fingers or teeth of the promoters.
Great start after the suspension was lifted by the SEC. I think next week the technical indicators will start improving. This is a great situation for the SEC to look at. The SEC will understand what happens to the stock price of a thinly traded company when traders get together to trash the market value of a company by persistent illegal NAKED SHORT selling. I don't believe the Bolivar technical team understood what was taking place when their compensation package from stock turned nearly worthless. I anxiously await the follow up from Buyins.net on this company.
I understand it's grey now. I believe that means your order must meet another order exactly. Today's trades, at a normal level.
0.009 60000 OTO 14:38:46
0.009 3500 OTO 14:12:34
My thoughts are someone was VERY lucky and someone was VERY unlucky. It's your choice as to which one is which. lol
Who put the 3500 through? Looks like someone has access, not really fair is it? Where will we open up at? Any thoughts...
I'll try again thanks.
I placed an order to sell. Didn't fill of course, but it went through.
can't place a order to sell.
Just tested,
and it shows ask still at .009
So, thats good.
A little buying pressure and there might be good results ahead.
The old team resigned.
Which means the oversold share structure should be as such.
Will be interesting.
Market cap is nadda right now. Nothing but potential technically speaking.
Time will tell.
Best to you.
BOLV is still suspended? Has anyone tried to trade this POS!
Ummm....
Ya. That about sums it up.
I wonder whats going to happen now?
Imo, pps already reflects the news.
Looks like MM are messing with our account balance premarket.
Well, I guess we will just have to wait and see.
MM shouldve not been allowed to sell shares IF they knew it was fraud.
Since it was publically announced, we should get refunds from share bought in January etc.
There still is potential here.
Will have to wait and see what comes of it.
LOL, Oh well.
Yeah, but it was still officially halted yesterday. Today it isn't so we should see trades coming in.
Any connection with this and Louis Dion or Paul Taylor? I understand PT joined forced with Vancouver stock fraud expert Dion.
Ya well, its grey market sailing now, you'll see all kinds of neat things.
0.0001 1111 OTO 09:51:48
0.0001 5000 OTO 09:51:48
0.09 10000 OTO 09:30:01
Buyins.net NAKED SHORT THRESHHOLD list only covers the illegal trading activity up to 1/15/08. On 1/17 and 1/18, it looks like the trading volume exceeded the company public float. I would think Bolivar's legal counsel is looking at the illegal trades, especially on those two days.
Someone somehow managed to get some in anticipation of something. Nevertheless,BOLV need to come out with good supporting news to get PPS back up.
NO one wants to naked short when a the sec is looking at it.If the o/s is correct these .007 i got will be nice.If not a couple hundred lost o big deal.
Spoke with my broker. They say the halt is still on even though there is some activity today. Their corp. actions contacted nite and they don't know where those trades are coming from.
This is weird - supposed to be halted until tomorrow yet a trade, and at .09:
Indicator Tick Price Size Time Exchange
Trade 0.09 10000 9:30:01 NASD Bulletin Board -
Bolivar Mining has yet to make a public statement with regard to the SEC temporary suspension order. I believe the best hope for us shareholders is a merger or takeover from a company that has a technical team in place. We may get a surprise with the share price on February 7th.
Not sure, but I believe the current pps already reflects any negative news.
The share structure I believe is very low and was extremely oversold.
Will be interesting from here.
Off most radars still.
http://stockcharts.com/charts/candleglance.php?bolv
Bolivar mining is now listed on Buyins.net NAKED SHORT THRESHHOLD list as of 2/1/08. Evidently, the Security and Exchange commission needs to look into the illegal trading activities of certain traders who shorted the share price down to what it now is.
Does anyone know what the squeeze trigger price is before the short positions need to be covered.
OUCH THERE WILL BE A DOWN TURN IN THIS STOCK
Bolivar Mining's Technical Team Resigns
MACON, Ga., Jan 29, 2008 /PRNewswire via COMTEX/ -- The technical team of Bolivar
Mining Corporation (BOLV), consisting of five members, of which, Michael M. Ellis
(former Chief of Engineering, Exploration and Mining), Doug Gouey Guy (former
Communications and Business Development Manager) and Dr. Robert Cook (former
Chief Geologist and Mineralogist) had been announced, collectively are utterly
dissatisfied with the business practices, actions, and lack of prudence shown by
Bolivar Mining Corporation's management, this consists of Arshad Shah, C.E.O.,
Robert Kline, Secretary, Martin Zezula, Treasurer, and Joel Pensley, Esq.,
Corporate Counsel. The apparently egregious actions of Bolivar's principal
management have lead to an S.E.C. Order of Suspension of Trading and
Investigation (File Number 500 1) into the company's current financial condition,
the company's management, the company's business operations, and the stock
promoting activities of the company.
We believe that Bolivar's management has caused damage to our professional
reputations, and they have done so with apparent malice and forethought.
Therefore, the technical team has no recourse other than to resign as of this
date. For the record, the technical team brought to BMC the business experience;
the engineering, geology and mineralogy expertise; and the mineral and metal
exploration projects themselves (except for those within China). We were paid in
what rapidly became essentially worthless stock, our attempts to communicate with
management were ignored, and we were treated with an entire lack of professional
courtesy. We feel strongly that these are not the actions of a company dedicated
to building a competitive mining enterprise of the sort to which we originally
contracted to provide assistance and expertise.
SOURCE Michael M. Ellis, of Advanced Materials Engineering, Incorporated
Copyright (C) 2008 PR Newswire. All rights reserved
Anyone claiming that Bolivar Mining is a scam should go to the home page of Dr. Robert Cook, Phd. at the Auburn University Geology dept. His E-mail address is cookrob@mail.auburn.edu. His field is ecoomic geology, minerology, and environmental geochemistry. You can also read published articles through the website. I don't believe a person with his credentials would associate himself with scam artists.
Anyone claiming that Bolivar Mining is a scam should go to the home page of Dr. Robert Cook, Phd. at the Auburn University Geology dept. His E-mail address is cookrob@mail.auburn.edu. His field is ecoomic geology, minerology, and environmental geochemistry. You can also read published articles through the website. I don't believe a person with his credentials would associate himself with scam artists.
Feb 7th, will be interesting indeed.
Have a nice week coming up. =)
Bolivar mining will trade on the grey sheets once the suspension is lifted. That is if no market makers agree to the conditions set forth by the SEC to trade the security. One thing we might hope for is a buyout or merger. Bolivar may also be forced to do joint ventures on their projects rather than fund the projects themselves. Bolivar may not be the party who authorized the spam mail that was sent out. Lets hope that is the case.
Here's the PR:
Jan 24, 2008
Pink Sheets News Service
Washington, D.C. —
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934 RELEASE NO. 57190 / January 24, 2008
SEC SUSPENDS TRADING IN THE SECURITIES OF ASIA PACIFIC ENERGY INC. AND BOLIVAR MINING CORP.
As part of its Anti-Spam initiative, the Securities and Exchange Commission ("Commission" or "SEC") today announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of trading in the securities of the following issuers, commencing at 9:30 a.m. EST on January 24, 2008, and terminating at 11:59 p.m. EST on February 6, 2008:
Asia Pacific Energy Inc. (APCC)
Bolivar Mining Corp. (BOLV)
The Commission ordered these trading suspensions because of questions that have arisen regarding the adequacy and accuracy of publicly disseminated information concerning among other things: (1) the companies' current financial condition, (2) the companies' management, (3) the companies' business operations, and/or (4) stock promoting activity.
The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the companies.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not it has complied with the rule, it should not enter any quotation but immediately contact the staff in the Division of Trading and Markets, Office of Interpretation and Guidance, at (202) 551-5760. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, it should refrain from entering quotations relating to the securities of the companies listed above until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation that is in violation of the rule, the Commission will consider the need for prompt enforcement action.
The SEC's Office of Investor Education and Assistance has information for investors and members of the general public on topics directly related to this action by the SEC. See http://www.sec.gov/investor/35tradingsuspensions.htm for a compilation of helpful links.
Any broker or dealer or other person with information relating to this matter is invited to e-mail the Securities and Exchange Commission at 35suspensions@sec.gov.
Well the only good thing is, If....
this turns out legit and all I wonder how well pps will do at this level and considering the share structure also on the upward side?!
Of course all the above is under scrutiny now.
Will be interesting.
Best to everyone. =)
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