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Thats perfect, thank you!
Not necesarily a investor question but does anyone know of a free search engine to search for lawsuits?
Trying to find info on (Red Willow Mid-Continent LLC)
Count
Thanks for the help
It really all depends on the situation.. in most case with listed stocks they usually come close to trading at the PPS. I never seen them hit the PPS I guess thats because things can happen last minute where `the deal could be broken. As far as afterwards thats up to the market..
I have a question if a merger/buyout deal states that shares will be bought at x amount, if approved by the shareholders on a certain date, does the shares usually start trading at that amount close to the time of the vote, or after the vote. I know nothing is written in stone, but just curious what happens more often than not... TIA
Free Book Download-Suze Orman 2009 Financial Action Plan till 1/15/09
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34725691
Well I did have some gtc on some of them for a few weeks and there apparently were buys on the ask but no bid - so no selling. But isn't there supposed to be a sell for every buy? lol
You'd have to order the certificate (or transfer to a more cooperative broker), then abandon (into your fireplace?). Some expense, so depends how much of a write-off is at stake.
If you have a GTC market sell order sitting for three months, I respectfully suggest the shares are not trading.
But Etrade's spin on that is that they can't liquidate it. I guess I could donate the shares but in order for them to liquidate I would need to sell it since it is still trading. I don't think there is any form that allows you to "abandon" shares that are still trading. This was my understanding of it.
Claiming a Loss for Worthless Securities (Abandonment)
Securities abandoned after March 12, 2008 can be written off as worthless (US Treasury Reg §1.165-5)
Discussed in Pub 17 http://www.irs.gov/publications/p17/ch14.html
Worthless securities also include securities that you abandon after March 12, 2008. To abandon a security, you must permanently surrender and relinquish all rights in the security and receive no consideration in exchange for it. All the facts and circumstances determine whether the transaction is properly characterized as an abandonment or other type of transaction, such as an actual sale or exchange, contribution to capital, dividend, or gift.
You have to pay the entire capital gains. The account is under your name and ss# so you pay the gains and you can also use the losses up to 3k a year. If you want to do it so that you all fairly get taxed you would need to open up a joint partnership account - llc. You can ask Steve here if that is the best route for you:
http://investorshub.advfn.com/boards/board.aspx?board_id=4597
Are you trading these stocks for them out of your account?
Regarding Capital Gains Taxes...
I'm currently invested in a penny stock, and two others have given me money to invest into it for them. How will the taxes work on something like this? Just assuming for the sake of argument that I turn a profit, will I pay capital gains on the entire amount? Will they be taxed separately when I give them their profit?
Can anyone shoot me some info about this? Thanks...
Well, if it is a company that files and they issue a dilutive filing like an s-8 you will know.
Thanks that is exactly what I wanted to know if DOMS dilutes for the company. There is really no way to know for sure though, is there ?
Like what? When I was trading pennies they used to be a diluter and you didn't want to see them at the ask. They are DOMS = Domestic Securities, Inc.
Anyone know much about MARKET MAKERS like DOMS ?
"Big Board Stocks"
Many times we see traders/investors misuse this term. They have the false sense of belief that stocks that aren't "penny" stocks are big board stocks. When in reality, this is not the case.
"Big board" stocks = New York Stock Exchange (NYSE). Many so called big board stock players also play and post about NASDAQ and AMEX as well.
Just thought I'd post something about this since I see it incorrectly defined on ihub often.
http://www.investorwords.com/474/Big_Board.html
Big Board Definition
The oldest and largest stock exchange in the U.S., located on Wall Street in New York City. The Big Board is responsible for setting policy, supervising member activities, listing securities, overseeing the transfer of member seats, and evaluating applicants. It traces its origins back to 1792, when a group of brokers met under a tree at the tip of Manhattan and signed an agreement to trade securities. Unlike some of the newer exchanges, the Big Board still uses a large trading floor in order to conduct its transactions. It is here that the representatives of buyers and sellers, professionals known as brokers, meet and shout out prices at one another in order to strike a deal. This is called the open outcry system and it usually produces fair market pricing. In order to facilitate the exchange of stocks, the Big Board employs individuals called specialists who are assigned to manage the buying and selling of specific stocks and to buy those stocks when no one else will. Of the exchanges, the Big Board has the most stringent set of requirements in place for the companies whose stocks it lists, and even meeting these requirements is not a guarantee that the Big Board will list the company. also called New York Stock Exchange (NYSE).
NASDAQ Extends Temporary Suspension of Bid Price and Market Value of Publicly Held Shares Requirements
* Tuesday December 23, 2008, 12:25 pm EST
KINDERHOOK, N.Y.--(BUSINESS WIRE)--American Bio Medica Corporation (NASDAQ:ABMC - News) has received notice from the NASDAQ OMX Group (“NASDAQ”) that given the continued extraordinary market conditions, NASDAQ is extending the suspension of the bid price and market value of publicly held shares requirements. Enforcement of these rules is scheduled to resume on Monday, April 20, 2009.
Any company in the compliance process for a bid price or market value of publicly held shares concern will continue to be "frozen" at the same stage of the process until the end of the suspension. During the suspension period, companies can regain compliance and could still be delisted for other reasons.
On October 30, 2008, ABMC announced that NASDAQ had suspended enforcement of the bid price and market value requirements and had therefore provided the Company until February 10, 2009 to regain compliance with the minimum bid price requirement. Although NASDAQ has not provided ABMC with a new compliance date, since ABMC had 22 calendar days remaining in its compliance period for its bid price deficiency prior to NASDAQ’s initial temporary suspension, ABMC estimates they will have until May 12, 2009 to regain compliance. ABMC can regain compliance if the closing bid price of its common stock is $1.00 per share or more for a minimum of 10 consecutive trading days. The NASDAQ notice has no effect on the listing of ABMC’s common stock on The NASDAQ Capital Market at this time.
For more information on American Bio Medica Corporation or its products, please visit www.abmc.com.
About American Bio Medica Corporation
American Bio Medica Corporation is a biotechnology company that develops manufactures and markets accurate, cost-effective immunoassay diagnostic test kits, including some of the world’s most effective point of collection tests for drugs of abuse. The Company and its worldwide distribution network target the workplace, government, corrections, clinical and educational markets. ABMC’s Rapid Drug Screen®, Rapid One®, Rapid TEC®, RDS® InCup®, Rapid TOX® and Rapid TOX Cup® products test for the presence or absence of drugs of abuse in urine, while OralStat® and Rapid STAT™ tests for the presence or absence of drugs of abuse in oral fluids. ABMC’s Rapid Reader® is a compact, portable device that, when connected to any computer, interprets the results of an ABMC drug screen, and sends the results to a data management system, enabling the test administrator to easily manage their drug testing program.
This release may contain forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ, and such differences could be material. Such risks and uncertainties include, but are not limited to, the following: continued acceptance of the Company's products, increased levels of competition in our industry, the acceptance of new products, inherent risks associated with product development, regulatory approvals and intellectual property rights, the Company’s dependence on key personnel, third party sales and suppliers. There can be no assurance that the Company will be successful in addressing such risks and uncertainties and the Company assumes no duty to update any forward-looking statements based upon actual results. Investors are strongly encouraged to review the section entitled "Risk Factors" in the Company's annual report on Form 10-KSB for the fiscal year ended December 31, 2007, and quarterly reports on Form 10-QSB on file with the Securities and Exchange Commission for a discussion of risks and uncertainties that could affect operating results and the market price of the Company's common shares.
Contact:
American Bio Medica Corporation
Stan Cipkowski, 800-227-1243, Ext 106
Chief Executive Officer
On October 16, 2008, NASDAQ implemented a temporary suspension of the $1 bid price rule. This temporary extension is set to expire on Friday, January 16, 2009. Beginning January 19, 2009, NASDAQ will start a fresh clock ticking on any company whose bid price has closed below $1/share.
http://seekingalpha.com/article/109588-why-nasdaq-should-eliminate-the-under-1-30-day-bid-price-rule
I had a question about indicators and overlays. I was wondering is you use different setting for short term and long term holds.
That's the first time I've EVER seen anyone pray for a r/s! lol
Ah, yeah that would put it in a cusip and they could just consider it worthless. Ok, dear God of the Reverse Splits, please reverse split any of my tickers that are trading with a .0001 ask - all except two. lol
Pray for a reverse split, thats the only way.
I called the broker and he said the only thing to do was to put a market order in. I am not looking to make any money on it - they can sell them for 0 for all I care but he claims it can't be done any other way. I just want the write off. Looks like I will be holding them for years unless some miracle upticks them.
Nope, I guess not. The last thing you can try though is calling your broker and have them contact one of the market makers to see if they will buy the stock cheap. Hell, even if you sell it for 1 dollar you will get to write it off. Give that a try.
Yeah, I have tried that but no takes. So basically I can't unload any of these?
Not that Im aware of... The only thing you can try is a market order GTC
Ok, I have a question. I am in the process of selling some bagholder junk so I can get some end of year losses to help offset my gains. I have some really old penny stocks that have no bid but an ask of .0001. Etrade tells me that if I can't unload them at the ask or with a market order, I can't liquidate them using the "worthless security" route since they are still trading. So my sell orders just sit there because no mm wants them regardless of the price and I can't write them off as worthless because they still have an ask. Is there anyway around this?
Thats hard to predict because of the changing news daily. So many variables
thanks for that. Ill take a look. With all this crazyness going on in the DOW theres got to be a way to get on the big rides the markets have.
There is a Dow strategy called Dogs of the Dow where u pick the least favored Dow stocks. I don't know if it would work in this market since all stocks are currently "dogs". Here is an explanation of it:
http://www.winninginvesting.com/dogs.htm
Ok I was thinking that. The stocks in the DOW are moving crazy is there any special way to get a good prediction on how its going to move?
Buying a stock IMO
ok thanks. what would you thinks easier to make a 3% gain on, Buying the $indu or purchasing an individual stock in the dow?
Yes, here is a good run down on the dow and its stocks..
http://en.wikipedia.org/wiki/Dow_Jones_Industrial_Average
there are 30 stocks in the dow jones is this correct?
ameritrade says today now that cash should be received tomorrow, which is less than a week from the filing, not too bad I guess.
Thats a big filing but did a quick search, it meantioned something about payment within 60 days. Here is the Payment Procedures below..
Payment Procedures
Effective automatically upon completion of the merger, you will have the right to receive the per share merger consideration in cash, without interest and less any applicable withholding tax. We and Lineage selected Union Bank of California, NA to act as paying agent under the merger agreement. Prior to the effective time of the merger, Birdie will enter into an agreement with the paying agent in a form reasonably acceptable to us. Immediately after the effective time of the merger, Birdie will make available (or Lineage will cause the surviving corporation of the merger to make available) to the paying agent cash in an amount sufficient to enable the paying agent to pay the aggregate merger consideration to the holders of shares of our common stock.
Promptly after the effective time of the merger, the paying agent will mail to each record holder of shares, immediately prior to the effective time of the merger, a letter of transmittal and instructions for use in surrendering certificates (for certificated shares) or shares you may hold represented by book entry in exchange for the merger consideration. No stockholder should surrender any certificates until the stockholder receives the letter of transmittal and other materials for such surrender. Upon surrender of a stock certificate (for certificated shares) for cancellation to the paying agent, together with a letter of transmittal, duly completed and executed in accordance with the instructions, and such other customary documents as the paying agent may require, or upon surrender of book entry shares, the holder of such shares will be entitled to receive the merger consideration into which the number of such shares will have been converted pursuant to the merger agreement, without any interest thereon. The surrendered certificates or book entry shares will be cancelled.
If payment of the merger consideration is to be made to a person other than the person in whose name a surrendered certificate or instrument is registered, it will be a condition to such payment that the certificate or instrument so surrendered will be properly endorsed or will be otherwise in proper form for transfer and that the person requesting such payment will have paid all taxes required by reason of such payment in a name other than that of the registered holder of the certificate or instrument surrendered or will have established to the satisfaction of the Lineage that such tax is not payable.
In the event any certificates representing shares of our common stock have been lost, stolen or destroyed, the paying agent will issue the merger consideration to such stockholder upon the making of an affidavit of that fact by the holder thereof. However, the surviving corporation of the merger may, in its discretion, require such stockholder to deliver a bond in a reasonable amount as it may direct as indemnity against any claim that may be made against the surviving corporation of the merger with respect to the certificates alleged to have been lost, stolen or destroyed.
You should not send your certificates now, and should send them only pursuant to instructions set forth in the letter of transmittal to be mailed to stockholders promptly after the effective time of the merger. In all cases, the merger consideration will be provided only in accordance with the procedures set forth in this proxy statement, the merger agreement and such letters of transmittal.
Twelve months after the effective time of the merger, the paying agent will deliver to the surviving corporation of the merger, upon demand, any funds made available to the paying agent which have not been disbursed to holders of our common stock. Any holders of our common stock who have not
complied with the above-described procedures to receive payment of the merger consideration during such period may thereafter look only to the surviving corporation of the merger for payment of the merger consideration to which they are entitled. We, Lineage, Birdie and the paying agent will not be liable to any holder of shares of our common stock for any amounts paid to a public official pursuant to applicable state, federal or other abandoned property, escheat or similar law. Any amounts remaining unclaimed by holders of shares of our common stock five years after the effective time of the merger, or such earlier date immediately prior to such time when the amounts would otherwise escheat to or become property of any governmental authority, will become, to the extent permitted by applicable law, the property of the surviving corporation of the merger, free and clear of any claims or interests of any person previously entitled thereto.
Did something stupid- help with acquisition shares-
Bought a small position in a company that was being acquired. CHRK was being swallowed for $3.20 a share, I bought at just under $3.00. Pretty small position, figured it was a low-risk mover for 5% or 6%. Merger closed last week, after being approved, and apparently the stock was de-listed, payable to all shareholders at $3.20. Sounds good on the surface, but now I'm illiquid with the money, can't do anything with until its paid, and I haveno idea how long that may be, or how it will be paid. Ameritrade couldn't tell me today, either. Plus, there could be withholding taxes it looks like
Anyone had any experience with this? They just filed a 25-NSE, and I tracked down a copy of the proxy statement here through ihub-
http://ih.advfn.com/p.php?pid=nmona&cb=1227586201&article=28939709&symbol=N%5ECHRK
Thank you for the information.
After an NT filing they have five days on a quarterly filing to come up to date - if they don't file within the five days they get the "e" and then they have 30 calender days (I think it may be 60 for foreign) - if they don't file by then they go pink. That's the way I understand it.
Can someone clear something up for me on late 10-Q. Grace end.
INFe- Human Resources, Inc. Delinquent (08/31/2008 10Q) 11/20/2008
IFHRE.
After grace period, it says removed 2 days later....does it go straight to pinks ?
thanks.
Don't know how valid this answer is but:
http://tradewithoutemotion.com/what_is_a_mirror_trade__good_or_bad_
What is a Mirror Trade: Good or Bad?
For the most part, mirror trades are great. It means that market makers (MM) are doing their intended job of matching retail trades. For example, MMs will buy shares from one holder at .0091 and sell those same shares to another holder at example .0095, and then, the MMs pocket the .0004 difference, which represents their fee for handling the transaction.
To look at it from a traders perspective, mirror trades confirm that:
1) MMs are relatively short on inventory, because they need to buy on the open market shares in order to fulfill buy orders; and
2) no new shares are being dumped to replenish the MMs inventory through CDs or Company dilution.
The bad, MMs could be using mirror trading to walk the pick down, also. But this has not been my experience.
In conclusion, mirror trades can mean that the float is really tightening up as it is being bought by investors as opposed to being bought by day traders and swing traders., and it confirms the company is not diluting.
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