FirstFed Financial Corporation (fka FFEDQ)

[eddy2]

If I couldn't laugh I would surly cry and what would be better you think.

It is only money, one shouldn't play high risk games with it if you can't aford to loose it and have a laugh over it not that I want to loose it but hey I screwed up and now I'm forced to wait and see what happens maybe with a bit of luck I won't loose my money and can buy in after the restructuring has taken place to recoup it that would be a safer bet, but hey I'm here now might as well have a good laugh at my expence and hope others won't follow me into the hole that i have put my self into.

That is why I BSed about the chapter 7, but like I said buy if you like and see what happens you never know you could get lucky or maybe change my luck or become as unlucky as me or as I feel right now.

[Alyssa]

I think everyone knows about the Q. Chapter 11 and Chapter 7 are different in many important ways. But whatever, Eddy...just as long as you're having fun.

lol.

[eddy2]

Ten thousand dollars, thats what I like to here any one else would like to step up and buy some stock.

There is no chapter 11 or 7 buy, buy, buy, roll that dice you could be a winner but you have to play the game. The chances are better that you do your DD first, Good luck to all.


a small fee will be charged by the courts for information that could be vital to your investing in FFEDQ.

Try looking up what the Q stands for in the sec rules you could be surpriced that it stands for a chapter 7 BK or a 11 not that it matters. That one is free no charge.

[eddy2]

If you did your DD then don't worry. Somethings are better to keep under your hat and in this case I am cause I don't want trouble. You say there is no chapter 7 fine then I must be lieing.

But for what reason I would lie I don't know considering I would love to sell this stock for what I paid for it, but heck hey bash it I guese and I can pick up more shares being it is in chapter 11 and must be under valued or i will make it that way by saying it is chapter 7 being it is a lower number and all.

What does it matter chapter 11 or 7. Chances are the common shares are to be wiped out, but your right being you have done your DD better then I and there is a slim chance that they won't cancell the common shares so of course I would lie being the under handed business person I am.

I say to you buy, buy, buy, and I will sell sell sell and there is no chapter 11 how is that, does that not sound better for you. It does for me considering I'm the seller here and no longer the buyer as you have claimed me of being by your accusations of my lieing to you about a chapter 7 not being so.

if you know the truth what does it matter about the rest here if there is know chapter 11 then it should be good for you if there wasn't so many shares being sold do to the shelved authorized shares that willbe anounced soon. Read all the 8K and youwill see what I'm referring too and that information is free as the other information in good time will be also were you won't have to pay for it, not that spending good money after bad is ever a good idea and I can see you not wanting to pay for information on a stock like this when things don't look that prommising.

[Phong Pham]

With this price ($0.017) ? it is too cheap to buy more. I don't care what other say, I will buy more, try to hold 100K like my loto and wont check it for another 2-4 years. If US economy get better in 2-4 years, I will be rich....

[Alyssa]

You are kidding, right? I paid for my information, too, through Pacer, and there is NOTHING to indicate this was converted to a Chapter 7.

So either show us or stop posting lies.

[eddy2]

Oh you guys your DD is hopeless. No wonder so many investors loose money.

I'm loosing money cause I bought before the chapter 7 was filed. They said the debt was paid off a year ago and then they turn around and take on more and because they were trading on the pinkies they didn't file the 8K on the new debt like the chapter 7 due to the fact there was less then 300 shareholders and assets of less then ten million that exempts them from filing there financials ect.

I will never hang onto a stock with less then 300 share holders and ten million in assets again, but I'm here now and if it dosn't vanish I will claim the loss on my 2010 tax return if I should have some capital gains this year.

There will be know pinkies for me anymore after I straightened out the mess I got my self into here.

[eddy2]

I had to buy that information and I don't think the court system is going to like me giving that out for nothing.

[Phong Pham]

I don't think he has any link to provide because It is still chp11. I couldn't find any link to show it is or will be in chp7.

[Alyssa]

Chapter 7? This Chapter 11 case was recently transferred out of San Fernando Valley to the U.S. Bankruptcy Court in Los Angeles. Would you please provide a link showing that this is now a Chapter 7 as you claim? Thanks.

[Value_Investor]

This CH7 bank is extremely overbought at 0.02 ~ 0.03! The bottom .01
will soon be tested and may be broken due to huge insiders selling!!

[eddy2]

Chapter 7, thats not good, oh well the end is here, I guese.

[Phong Pham]

FFEDQ is now One West bank. How come it files for Chp 7 ???? please explain

[PeanutButterJellyTime]

Chapter 11 you mean?

This is a sad attempt to promote other stocks, really pathetic.

[eddy2]

Well the best of luck to you I have share I bought at $.35 that there is no point I feel in selling althow I don't see in getting my money back.


You know I figured they were out of the water. I made a bad bet and will have to live with it.Oh well that is stocks for you and buying a pinky your taking your chances.

[sleepingGiants]

I bought in on pure speculation looks prommising had to buy at ask, could not buy at price or bid seems ther are no shares other than ask this could sky rocket with a little news or simpely rumor like i said purly speculation. GLTA!

[eddy2]

There is a good chance of that. I would day trade it and maybe keep 20 thousand shares to see what happens, if you can aford the loss, granted it is a long shot. You can always come in after the restructuring that will surely move the stock up a 100% to cover the $2,000.oo. That would mean you will need another $2,000.oo to break even if it dosn't work out. Thats if it should go up a 100%.

A lot of times after taking out the common share holder there will be a reissuing of common shares on lets say the New york at a new set price that dosn't always go up. She is a role of the dice but to say that the common share won't be wiped out well that is a tough one to answere.

There are cases were they will turn around and short the stock again. There is talk of interest rates going up that won't effect the ones who locked in there morgage but could put more preasure on the ones who haven't granted they would get a greater spread with the new equidity if they can sell it in the market should they wipe out the common share holder that I would think is what they would like to do.

My feeling is that they loaded up debt on purpose and bought none revenue assets turned around depreciated those assets so as to declare Bankrubtsy to take out the common share holder.It shows in there financials to me that is what happened. it happens all the time another entity the insiders maybe own lent money.

[Alyssa]

Nice!

[PeanutButterJellyTime]

Virtually all of that volume was at the very end of the day.

We actually broke through one of the MM's at .023

At close, there was 1 MM @ .023, 1 @ .03, and 3 @ .05

[Alyssa]

Up 27.78% today on tiny volume of 134,500. Next up: 3 cents. I hope the shorts are paying attention!

;)

[Phong Pham]

I am new to this, should I buy this ? do you think they will cancel the share ?

[Scootter82]

7 days for shorts to cover and their currently shorting 26% of the float.

[Scootter82]

Lol. I'm in WLKF as well. Na, I probably don't have anything else o add. I didn't see it before.

[Value_Investor]

I already done that job in I-Box page unless you have some new stuff to amend. Anyway I sold 50% of FFEDQ position yesterday and will use
the proceeds to buy WLKF at the current steal price to make easy 10-
bag or 1000% gain (VCTY did rally to 0.0265 from 0.0002 in ten-day).

[Arnold25764]

Hello, whats the deal with FFEDQ?

[Scootter82]

Value, can you make up the ibox and sticky some posts you think are important? Or can you make me an assistant and I will do it?

[Scootter82]

So this is what I have so far:

Float of 13M
Ourstanding 13.7M

7 days for shorts to cover and their currently shorting 26% of the float.

The total volume today was 1M and 200K went through at HOD last minute of trading at .02. Then just after close another order went through for 220K at .022. I picked this up on my eTrade scanner today, btw.

[Scootter82]

Can someone interpret their last 8-K? It has to do with their unaudited monthly operating report.


http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7043635

[Scootter82]

picked up a position today

[Alyssa]

Not sure...hoping to see a sweet short squeeeeeze for starters.

[Alyssa]

Hope so...that's the plan!

;)

[Funny1]

whats going on with the stock today?

[PeanutButterJellyTime]

That should make for a fun ride up!

[Alyssa]

The other fun-fact is that there are over 3 million shares short here, maybe more (about 26%).

;)

[Alyssa]

There are ONLY 13.7 million shares outstanding; 13 million in the float. It looks like the sell-off is over, at least to me. At the very least, the entire float has changed hands over the last few months.

:)

[Value_Investor]

At 0.01 the market value is $136,850. Seems low. But there is no big
sell-off yet. I think the ask has to drop to 0.01 to test how strong the bottom price is. If 0.01 is not broken then we can expect a nice
bounce from 0.01 to 0.02 or higher. So I sold partial FFEDQ shares &
I am using the proceeds to buy WLKF steal shares (78M shares OS). It
is on the huge rally mode and will hit 0.047 at least to match the same MV with VCTY. It is easy to gain 10-bag or 1000% return based on the $2M enterprise value! WLKF is a insurance company and has the real operational business mainly in NY/CA/TX. Now extremely oversold
and undervalued. VCTY is just a shell stock and had rally 132.5-bag to 0.0265 from the bottom price 0.0002. WLKF is up 106% today!

[Alyssa]

That same quarter (ending 9/30/09) indicated an enterprise value of $1.15 BILLION. Current market cap is under $200K. Yup, you heard me--under $200,000. Only 13 million in the float.

Crazy-funny-strange.

;)

[Value_Investor]

New 52-week low 0.01 was created today! Sell at bid ASAP before the
pos scam hits another new low 0.005. CH11 may be converted to CH7...
WLKF is extremely undervalued and oversold now: ready to rally 1000%
at least. I am selling my 1M shares of FFEDQ to buy WLKF to make up
my huge loss here.

[Value_Investor]

Why a CH11 bank can hold such high price 0.015 for so long? Does it
mean the bottom price? Before the pos scam filed the CH11 0.026 was
the 52-week low. Now after filing it only dropped 42.3%. Who bought
near 1M shares at 0.025 ~ 0.03 before it broke down the 0.02? Why?

[Value_Investor]

New 52-week low 0.015 was created today as I predicted yesterday! It
may hit another new low 0.014 very soon. So sell at the bid ASAP...

[Value_Investor]

New 52-Week Low 0.016 Was Created Today! Sell at the bid ASAP before the CH11 scam hits another new low 0.015. 0.03 must be the top! Who
were those very stupid buyers who bought tens of thousands of shares at 0.025~0.03 before it broke down previous bottom 0.02? Huge loss!

[Value_Investor]

New 52-week low 0.0161 was created today! Sell at bid ASAP before it
hits another new low 0.015. Another new low 0.0167 was created last
week. Who are those very stupid buyers who had bought the shares at 0.025 ~ 0.03 a couple of weeks ago? They are in the deep loss now...

[eddy2]

More banks failing.


http://triad.bizjournals.com/triad/stories/2010/01/25/daily100.html?ana=yfcpc

[eddy2]

There is not enough revenue and that in turns makes a short fall in the ability to pay the bills and keep every thing else in check.

No one is buying the CD's, or there cashing out, one cause every one is scared, or two they need the money to live due to being unemployed or three want there money in a safer place, feds or no feds. Would you trust the goverment, granted they have been there so far. The cdo's that institutions bought are now being bought up by the feds to prevent forclosure on whats left of the CD holders and to stabilize the market so that people will buy the CD's again from the banks. The banks and institutions holding those assets are now out the revenue from those CDO assets (bonds)they once held and are using there capital to reset the subprime loans comming due in the market at a much lower rate, again another hit on revenue, and setting up another shortage in capital to reset those loans and pay the bills.

The bank has limited choices as to were they can get there capital now. The feds have got there hands full buying up CDO. No one wants to by the CD or the CDO of any new offerings on any new entity that could be offering them. The banks only have depositers money to work with and people are using there savings to keep them selfs fed and clothed while alot of them have lost there jops. That means the banks have to keep a bigger cushion if the depostiters should want there money and that is why the thrift closed them down.

The bottom line is a broken asset that dosn't produce much in the way of revenue is not worth much on the open market. I my self never use assets as a way to value a company, but I will use companies earnings to value an asset. Now that is not to say that there are times after a depretiation right down that an asset is not worth less on the financials then what the street is willing to give, but again it is often an asset that is totaly writen down over many years to zero that is under valued.

They sold the assets and have now filed that they have four million dollars of assets and a 150 million in liability in a chapter 11 Bankrubtsy filling now the only thng that could of happened is that they own four million in undervalued shares of One west that are counted as assets. In other words FFED has become a holding entity of Onewest shares and in time will become the parent for One West or a subsiduary or just a holding company. That is a real long shot if the assets are worth what they claimed they are worth in the financials but most times they go high in the financials on the assets to keep the bond holders from demanding payment and from jumping ship.

I bought a stock one time that the assets were listed higher then the liabilities but the company couldn't pay there bills. The assets sold for half of what they said they were worth in the financials.

Williams Communication was the said company. You can still look at the financials under the SEC and you will see what I'm refering too.That fiber optic junck didn't go for nere what they had spent on it and now Level III communication got it for a song or maybe not after they to went in to chapter 11 and took out there common share holder. William Communications traded for a long time at $.o1 before it died.

Don't fall into the asset trap in valuing a company unless your in the realistate business and realy know something about what a companies none performing assets are realy worth on the open market and you know that they have been depreciated of the books.

[Value_Investor]

New 52-Week Low 0.017 Was Created Today! Sell at the bid ASAP before the CH11 bank hits another new low 0.015. Please do not buy at ask!!

[Value_Investor]

Is the book value $8.121 per share? If it is yes then why the stock
is traded at only 0.02 ~ 0.03 per share recently? Any value here?

[eddy2]

I have already sold when the BK was anounced. I'm waiting for the outcome after they take out the common share holder and then if they convert the debt to equidy I will jump back in, but not untill then.

[Value_Investor]

I bet today the bottom price 0.02 will be broken and a new low 0.01
will be created today or tomorrow. Sell at bid ASAP before too late!

[eddy2]

It will break down. The thing that I find interesting with this stock is the accounting and how aggressive they are in righting down the bad debt or what they figure is bad debt. Makes a big mess of the income statement and the fact they pay of senior debt and turn around borrow more and pay that off and in the mean time with huge interest charges going toward the income statement never mind the bad debt charges layed out in note five of the financial statement in the 10k.

I'm not an accountant but it does seem over aggressive. The other bit about the 4 million in assets and having a 150 million in liabilities filed in the BK statements well being that the deal of the sale has not been mentioned the way I'm figuring is that they sold the assets through a reverse merger and First federal owns four million in shares on the deal and holding them as an asset.that is wild speculation on my part and maybe being to hopeful. They did say that One West was still a private company unless the deal is not finalized and that is why we don't know the details.

The aggressive accounting could of been used to ward of possible law suits should this thing go in chapter 7 or in many cases they will use stock to convert debt regardless company revenues have droped over 30% from 2006 and even applying more conservative accounting it dosn't give much wiggle room for them to make a profit.


I don't believe the companies assets were ever marked to market and that could of been another thing that could of happened and if so then maybe all they got was four million dollars and all the debt for the sale of the company. That is not good for the ones still holding.

For me I'm waiting untill they get through this. It is better to be late to a party and making sure there is a party to go too then to be early and have no party at all and loose all your capital.

[Value_Investor]

Made some decent profit last week! Hopefully I can sell out the rest
shares at 0.025 ~ 0.03 in the next week before it breaks down 0.02.