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Anyone here have any thoughts on SECI?? It appears they are about to file the paper work to come back from the greys to the otcbb or pink...if this turns out to be the case..how would the price initially be set? Anything would be much appreciated ...
thoughts?
thx
mj
I know you have problems doing research and keeping up with current events, so I'll make this really simple.
https://www.sec.gov/litigation/apdocuments/ap-3-18506.xml
Just click that link every day or so and you'll know when MHYS is officially revoked. Just an FYI it won't do much good until August 22nd as you'll discover. (again by clicking that link) Other than that, no posts good or bad can influence MHYS stock. It can not be traded by the public on the open market by order of the SEC. Hope that helps, sorry for your loss.
according to the TDAMERITRADE broker its at 0.0001 . GO MHYS$$$$$$$
So, how does one facilitate a trade in a grey sheet security?
Fidelity portfolio displays a five-digit number with no pricing.
TIA
So $STVA was suspended, and it gets lifted Oct 20 2017 (tomorrow)
What do I do with my shares? How can I sell them? Is there a website for any information?
Can anyone interpret this and tell me if STVA is going to end up on the Grey market? https://www.sec.gov/litigation/suspensions/2017/34-81835.pdf
I am new to OTC stocks, so I don't really know what all this means.
Did you ever get an answer to this question?? And how did it all turn out for you? I see this post is 5 yrs old. I'm in the same boat now as my stock was just suspended I had 4950 shares, paid $6700 for... devastating
Does anyone have current information on MXXH or NERG regarding their status.
grey sheets : i found this on the otcmarkets site. seems to me they are inviting broker dealers/market makers to starting posting more quotes for grey sheet stocks. that would mean greysheet exile may starting getting a little better.
It doesn't matter if it is a scam or not, SEC has ruined this stock forever with the suspension. I got burnt on SKTO, bought on June 5, then it got suspended on June 6. After resume trading June 19, it dropped 80% and now down to 90%. They were saying the same thing that you are here, that the SEC is wrong and the company is operating and moving forward successfully, but the stock continued to drop.
NOT a Scam---and am looking forward to the Greys,,,perhaps some cheap shares----Did you read any of the recent PRs from the company ---???
I have lost my arse twice before on suspended companies---one a scam and the other the CEO lied to the SEC on an audited financial---claiming a multi million dollar coal deposit as a company owned asset---which he never had title ----This company is quite different---I have done a lot of DD ,, new they were having difficulties with getting the financials out---but, NO, not a scam---
Art:
I hope you read the release today. The company was as shocked as everyone else when the trading suspension occurred. They are working hard to resolve all outstanding issues with the SEC which is related to being compliant on all reporting requirements.
Alan Sheinwald
Capital Markets Group, LLC
Office (914) 669-0222 | Cell (914) 318-8714
FTE Networks Provides Shareholder Update
NAPLES, FL--(Marketwired - Aug 26, 2014) - FTE Networks, Inc. (PINKSHEETS: FTNW), a premier provider of solutions services in the telecommunications and technology vertical, today announced that on August 22, 2014 (Friday afternoon) the company was notified by way of certified mail of a trading suspension applied to our common stock. We are prepared to cooperate with FINRA and the SEC to rectify this matter and bring the company back into compliance. We wanted to provide shareholders additional information regarding the audit situation at FTE Networks, Inc.
At the time of the reverse merger between Focus Venture Partners, Inc. and Beacon Enterprise Solutions Group, Inc. in 2013, the 2012 BEAC financials were disorganized and in some case not in our possession. There was a period of time in September 2012 where all of the financials were turned over to another entity due to a sale of assets and that information has been difficult to obtain. Again, this was pre-merger and we've spent the last ten months tracking down the pertinent information to complete the 2012 10-K. We have recently been provided the material needed to begin the audit process and are now moving forward. We anticipate 45 days to complete the 2012 audits and then another 60 days to complete the 2013 audit. At that point, the company will only need to submit the 2014 quarterly earnings reports ("Qs"), which are close to being finalized as our current management team had control of those quarterly numbers.
"We view this as a temporary situation and hope to be current before the end of the year," commented Michael Palleschi, CEO of FTE. "We don't anticipate additional delays and management intends on providing shareholder updates going forward. We will comply with all SEC rules and ensure transparency to the SEC and the company shareholders. Finally, we will work diligently to ensure compliance issues are met and a situation like this is not encountered in the future."
As far as the company's business is concerned, this suspension has no effect on our ability to continue our growth. We are operating and moving forward successfully. We will have information as we progress through this situation and will put out releases and 8-Ks, as is our normal procedure.
About FTE Networks, Inc.
FTE Networks is a vertically integrated company with an international footprint. Since its inception, FTE Networks has steadily advanced its management, operational and technical capabilities to become a leading provider of services to the telecommunications and wireless sector with a focus on turnkey solutions. FTE Networks provides a comprehensive array of services centered on quality, efficiency and customer service.
http://finance.yahoo.com/news/fte-networks-provides-shareholder-120000281.html
Maybe the contract is a scam, because I can't believe the SEC would suspend a company with a contract that large. If the contract is real, they should be able to buy their way back off the grey. If they can't do that, then scam for sure.
FTNW has just gotten a trading vacation for failure to file it's financials following a reverse merger ----
The company put out a PR yesterday---very interesting---they go to the grey sheet next week----
this company just announced a $22 Million contract last month---a new audit firm and a new IR firm---Capital Mgt----
http://www.ftenet.com/PressRelease.html
Yep, lost over 80% on AEGY & SKTO after suspension. POS still dropping, but CEO says everything's ok, what a joke. If your stock ever get hit with a suspension, kiss your money goodby, SEC has destroyed your profits.
AEGY and SKTO received the SEC halt. I guess we are going into limbo.
There are two other forums that address grey market issues that are a bit more active.
This one is in regard to stocks that become grey market after an SEC suspension:
http://investorshub.advfn.com/Grey-Market-or-Grey-Sheet-Q-&-A-25608/
This one is in regard to trading GM stocks that also trade on a foreign exchange. Such stocks will have a ticker that ends in "F":
http://investorshub.advfn.com/Greysheet-Trading-Forum-GREYSHEETS-15032/
STRXF trading TSX and (GM)? What is significance of going GM from OTC PINK?
Stock was TSX and OTC:PINK Now TSX, and (GM)in US? What would that mean? Could this mean attempt at NASDQ?
Does anyone know of a list of Grey Sheet stocks?
Particularly would be interested in any company trading over $1 for a length of time.
Every time this BS happens
Every time this BS happens,
the market sector suffers as investors and potential investors decide that they'd be better off putting their money under the mattress in lieu of investing in supposed start up companies run amuck in criminal activity. Eventually all whom are left will be the paper hanging con ASK scam artists with no one but themselves to game. In the mean time, the securities and the politicians trusted to protect and serve the citizens will continue to fall into disfavor and then history will again repeat itself, a scenario all to often satirized as in the "RED DAWN". And there you have it! Certainly no surprise.
So KMAG is just another nail in the coffin for either the honest or the dishonest, yet to be played out. I would caution everyone to name their own poison well. In the meantime, it may be prudent to spend time on our iHub fraud board and with those whom you may determine to have some integrity and character in lieu of total strangers, such as it is. There are honorable traders out there, just takes a little effort to find them. A second great protection is to be comfortably conservative in your plays, never allowing the blood to be sucked out of your life. There has to be a lesson here, if not, it is all for not and the criminal contingency wins. That's a period!
BE SURE TO HIT YOUR "FOLLOW BOARD" IN SUPPORT OF YOUR GREY KMAG STOCK INTERESTS.
THE EXECUTIVE PARLOR: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80956081
GRAY PRs: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80895016
http://www.otcmarkets.com/stock/KMAG/quote
KMAG CEEKER PHOTOS 10/27/12: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80950235
SEC Suspensions & Revocations Board 9/21/12: http://investorshub.advfn.com/boards
Grey Sheet/Grey Market Stock Info Board: http://investorshub.advfn.com/Grey-Sheet-Grey-Market-Stock-Info-Board-3459/
KMAG SUSPENSION PR: http://ih.advfn.com/p.php?pid=nmona&article=54213877
http://www.otcmarkets.com/stock/KMAG/news/Suspension-of-Trading?id=52617&b=y
ORDER OF SUSPENSION OF TRADING File No. 500-1: http://www.sec.gov/litigation/suspensions/2012/34-67868-o.pdf
It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of the issuers listed below. As set forth below for each issuer, questions have arisen regarding the accuracy of publicly disseminated information, concerning, among other things: (1) the company’s business operations, (2) the company’s current financial condition; and/or (3) issuances of shares in company stock.
#7. KMA Global Solutions International Inc. is a Nevada corporation based in Ontario, Canada. Questions have arisen concerning the adequacy and accuracy of press releases concerning the company’s operations. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed companies. THEREFORE, IT IS ORDERED, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the above-listed companies is suspended for the period from 9:30 a.m. EDT, on September 17, 2012 through 11:59 p.m. EDT, on September 28, 2012.
NOTE: JUST FOR THE RECORD, KMAG IMO IS NOT LEGAL NOR INVESTMENT ADVICE. ANYONE REQUIRING QUALIFIED ADVICE SHOULD
SEEK OUT A LICENSED PROFESSIONAL IN LIEU OF SEEKING SUCH ADVICE ON AN ANONYMOUS PUBLIC POSTING BOARD. AGAIN IMO!
The KMAG story is still unfolding and it is just like watching
The KMAG story unfolded long ago. Ironically the CEO cult hero Reid gave his flock the real story back in late 2010. Then apparently with revenue from royalties lagging he decided to play the pump&dump game in 2011-2012, and embellish things with non-existent sales numbers.
Having survived a Grey of my own (with profit hee hee), it's more like watching a dream become nightmare unfold. First one dreams of becoming a penny millionaire. Due diligence suddenly becomes reading the latest PR, and believing them along with the pump posts of everyone congratulating each other for their astute DD (or reading the PRs). You never ever consider asking: If this company had no manufacturing capability in 2010, none announced since then (e.g. outsourcing or otherwise), then how the hell did they suddenly come up with $Ms in sales out of the blue? Nope, just read the latest PR, cheer, and then buy more as it's pumped up. One might call it "Emotional Investing".
Then comes the SEC... 50% loss or more on the first post suspension trading session. Instead of being positioned for a breakout for mega profits, one has mega losses - side swiped and slammed overnight without warning. Whose fault is it? Not our hero CEO being investigated for fraud!!! It's the SEC! They're wrong! The CEO and lawyers are going to slap the SEC around - it's a mistake! It's the evil bashers, wanting our shares! It's the non-existent Shorts! The company has strong fundamentals - just do your DD by reading the PRs (now under investigation for fraud).
Currently in KMAG land a miracle is going to happen any day now. If you believe the posts they are averaging down into oblivion. There's that dream it's not a nightmare, Emotional Investing in tact. I feel like a pilgrim in an unholy land when reading those pump posts on the KMAG forum. Evil everywhere! LOL
Stock boards in general are better than watching soaps. lol
In Reply to 'Johnny4profits'
The KMAG story is still unfolding and it is just like watching "As the World Turns". LOL
regarding "letters of no action":
What HOT is referencing is KMAG. Where some posters are claiming the CEO has Emailed them various claims, including they have already received a no-action letter, thus the investigation has been concluded, a MM has been found, and a 211 is pending. The idea it was a mistake, and purely the fault of the SEC.
A red flag which should pop up is if true those items are material events for the stock. As such a CEO sending Email to a few select investors is in violation of the "fair disclosure" regulation. One has to call into question exactly what was or was not said in the Emails. Maybe the CEO is really that stupid as to violate another regulation, while under investigation. The other possibility is the Email were more vanilla than reported. What is known is that there are no PRs stating these claims. There follows rationalization as to why the delay for the PR releases. What company would not rush to get out a PR claiming they had been exonerated? Nothing to prevent it - if it's the truth.
The stock in question appears to be the typical post-suspended Grey stock. There was massive stock issuance activity, followed by a big pump PR in June, a huge run in Aug with increased volume, then came the suspension in Sep. The SEC always seems to wait for the final pump run before suspending. Unfortunate for the investors who got sucked in.
Hopefully, the consequences for being stupid become learning experiences. We all pay for education in one way or another.
I've learned to trade more than invest. I hold a few for long term, but, most of my current activity is simply trading.
In Reply to 'Johnny4profits'
Yes, there is such a thing as "NO FEAR"
and then there is being as dumb as a rock. One of the things that sets many traders up for the fall in the GREYS, not that they are the only risk in trading, is that most people have never had the experience first hand and won't bother to do their homework. The more experienced and nefarious simply have those fearless warriors as their cannon fodder. It's a tough game we play with very real consequences for being stupid.
Yes, there is such a thing as "NO FEAR"
and then there is being as dumb as a rock. One of the things that sets many traders up for the fall in the GREYS, not that they are the only risk in trading, is that most people have never had the experience first hand and won't bother to do their homework. The more experienced and nefarious simply have those fearless warriors as their cannon fodder. It's a tough game we play with very real consequences for being stupid.
......................
The entire financial market is bizarre. So much is illusion.
But, it's amazing how many don't understand when to run from the greys.
Thank you for the response. That's not the reasoning in my post.
I do appreciate your reply.
Have a good day and god bless
Thanks
HOT
Starting up a second board doesn't make her a basher... she just seemed to want to do her own thing. ;)
Agree
I just don't like info from bashers or naysayers. Not a lot of credibility. If you know what I mean.
Just me, but I'm crazy like that
Thanks for the response.
HOT
Any source of information is always appreciated. Especially with links.
It's best when we all share...
I think I specifically asked KarinCA. Don't remember asking anyone else's opinion
Thank you very much
HOT
A "No-Action Letter" may be issued prospectively or apparently also when the SEC has concluded an investigation and determined it will take no action or no further action (such as in the case of a company that was suspended).
A No-Action Letter likely helped EMGE return to being quoted: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80226330
Most No-Action Letters can be found on the SEC's website: http://www.sec.gov/divisions/marketreg/mr-noaction.shtml
Alphabetical list: http://www.sec.gov/divisions/marketreg/mr-noaction.shtml#alpha
Chronological list: http://www.sec.gov/divisions/marketreg/mr-noaction.shtml#chron
Special thanks to sidedraft for finding the links: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80228092
Here's info from the SEC site regarding "letters of no action":
www.sec.gov/answers/noaction.htm
I'd only be guessing, but, my thoughts are it is too late for a "letter of no action" if they've already been suspended. The SEC doesn't just randomly suspend a company. They would have contacted the company for clarification on whatever they were having problems with.
Either the company ignored the requests for clarification or the company gave the SEC some unsatisfactory responses. Btw, the SEC found something seriously wrong or they wouldn't be suspended.
Good luck on this since your stock must be trading on the Grey Sheets or Grey Market now.
In Reply to 'HOT'
I agree with you 100% on that.
Thanks
HOT
KarinCA. I am a shareholder of a company that was suspended. Now we are trading again if you can call it that.
My question is this. Have you ever heard of a " letter of no action " ?
The CEO seems to think he'll receive one soon from the SEC
Thanks
HOT
As Janet said, the risk is that an MM who agrees to file a new Form 211 is accepting liability should any of the information contained therein turn out to be inaccurate or downright false.
Again, it is best to stay away from Grey sheet or, grey market stocks that are grey due to an SEC suspension.
Only trade greys that are ADR.
what exactly is the risk? i keep hearing this:
It could be true, but, odds are it is simply bs. What market maker would take on the risk at this point? Especially, since they haven't named one in the pr.
I feel for everyone in here. I've been in a few that ended up as toast and it isn't fun. That's why I tend to stay away from the pennies.
Good luck... I'm out...bye
In Reply to 'winpicplz'
What do you make of this PR??
http://ih.advfn.com/p.php?pid=nmona&article=54351600
Do you think this could be a possibility? You stated usually the kiss of death--
What do you make of this PR??
http://ih.advfn.com/p.php?pid=nmona&article=54351600
Do you think this could be a possibility? You stated usually the kiss of death--
SEC suspensions are usually the kiss of death for most stocks. MIKP won't be coming back anytime soon. I'm guessing you have already figured this out. The following are links for those that haven't followed it. The charts usually look the same after the suspension and open on the greys.
www.sec.gov/litigation/suspensions/2012/34-67868.pdf
www.sec.gov/litigation/suspensions/2012/34-67868-o.pdf
In Reply to 'winpicplz'
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