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I know that much. Any particular reason? They all seem to have the same outcome from the research I've done and the research you and JS have provided.
i follow suspensions. i have followed hundreds. i don't trade them.
Thanks lucky. Curious why are you paying attention to this by the way?
it will be available to trade on monday.
U can with etrade
I found this phone number online for $mjmi if anybody's interested in contacting them 702-290-8649
Do you know which brokerage firm to use to trade on the grey market? I'm using etrade atm....
So did I, not quite that much, and I'll lose more when it opens on the grey market
When it goes on the grey markets, not really
Is there any hope for this?
I feel ya, happened to me in a MJ stock years ago. Lost 90 percent if my money .
Robert, I feel you pain, I was looking for a a gallery or a bounce seeing how oversold it was on Thursday. Now locked up a good amount of my portfolio in this for the 20 day suspension and I don't even know what it'll be worth when it opens on the grey market. Even then, it's a parallel market, nearly impossible to find a buyer.
was this halted or symbol change? thanks.
According to MarilynJean's most recent annual report, its sole officer and director is a man called Peter Janosi. He received a degree in economics from the Zrinyi Miklos University in Budapest, Hungary, and from 2006 to 2013 served as a police officer in Budapest. In 2013, he apparently left his police job to pursue some sort of Bitcoin-related business and wound up as MarilynJean's chief executive officer.
That same annual report discloses that the company has no hard assets to justify its $123-million valuation. As of June 30, 2016, the company's total assets were $26,005, most of which was cash. It listed liabilities of $553,877.
So, a former police officer is now doing Scam ? !
The U.S. Securities and Exchange Commission has suspended MarilynJean Interactive Inc., a purported provider of Bitcoin-related services that until recently had a $123-million market capitalization. (All figures are in U.S. dollars.) The SEC cites what it describes as unusual trading activity in the Vancouver-linked company. The regulator says that a suspension is necessary for the protection of investors.
The SEC has provided no other reasons for the halt, but the regulator is clearly concerned about manipulative activity. In the days ahead of the halt, the stock more than doubled, going to 71 cents from 31 cents on a relatively large number of trades. Then, on Thursday, Aug. 25, the company dropped to 24.5 cents on volume of 6.2 million shares, indicating heavy selling. There was no news that would account for the significant fluctuations.
The suspension leaves many questions about MarilynJean. The company has a website that appears to be professionally designed, but it is far from clear who designed it. Registration records show that the site belongs to a service called Domains by Proxy LLC, which means that the site's creator is anonymous. MarilynJean's address is for an office in Henderson, Nev., that belongs to an entity called Incorp Services Inc., which is a corporate agent. MarilynJean's phone number leads straight to a generic voice mail.
If they are accurate, the company's filings provide a little more information. According to MarilynJean's most recent annual report, its sole officer and director is a man called Peter Janosi. He received a degree in economics from the Zrinyi Miklos University in Budapest, Hungary, and from 2006 to 2013 served as a police officer in Budapest. In 2013, he apparently left his police job to pursue some sort of Bitcoin-related business and wound up as MarilynJean's chief executive officer.
That same annual report discloses that the company has no hard assets to justify its $123-million valuation. As of June 30, 2016, the company's total assets were $26,005, most of which was cash. It listed liabilities of $553,877.
The report also shows that MarilynJean's history leads to the Vancouver area. On March 28, 2013, the company acquired a private entity called MarilynJean Media Inc., which operated a website that sold clothing for babies and children. According to government records, MarilynJean Media had an address on 76th Avenue in Surrey. As part of the transaction, MarilynJean Interactive issued 106,651,250 shares, which it later cancelled.
Around the same time as those shares were cancelled, MarilynJean Interactive disclosed its foray into the Bitcoin business. In a Sept. 22, 2015, news release, it said that it was planning to provide "safe and accessible services for the users of Bitcoin and other crypto-currencies." The stock also became very active around then. Within weeks of that news release, it reached a $3.04 high (giving the company an absurdly high valuation of $526.9-million), before falling back to 16 cents on Dec. 31, 2015. The stock was then mostly inactive until late July, 2016, when it suddenly started trading hundreds of thousands of shares every day. This continued up until the SEC's halt at the open on Friday.
Nope, IMO, most do not believe, nor even pay attention to the story. With APS, they had many long running, very predictable promos with a lot of cash behind them and traders waited for their pumps with great anticipation. All of them were scams, period. Since the unraveling of APS, lesser groups have filled in to a much lesser extent. Finest, Excellent et al are absolute pump scams, clearly. The emails, stories, and so on literally did not change aside from the ticker symbol. Same BS, shorts forcing down, etc...they were all front run pretty solidly, anticipated by some sites months in advance, they never really traded at the lows they quoted, and moved with almost identical patterns. The per diem to the pump sites was tiny compared to APS budgets, but so were the results. This really should have been halted more quickly simply by comparing emails from past pumps and ridiculous statements like guaranteeing it will go up 50%, shorts brought it down, and the like. But, they did finally halt it, although it took them to the end of the pump to do so.
I'm stuck here.
To answe your question yes I knew this was a p&d and knew the company was
BS.
What is t bs is the market reaction. This type of thing can be lucrative. Obviously for me it wasn't. I picked up before market close at the 20ma for the dead cat bounce. (Which would have happened had the sec not shut it down)
While I don't agree with how these promos are done and ultimately what they end up doing to the people who hold too long or buy in too late, the question I always have is... do people actually BELIEVE what they read in the promos? Have people still not heard of these schemes by this point in time? It's of my opinion that these days promos are more like a trading game or some form of gambling and MOST people that play probably view them as so. I mean, I've been following a lot of the promos from E.S.P and at least to me it's always been obvious these aren't even real companies, only existing on paper. Always the same charts... a huge run and crash a year or so before followed by tiny volume and activity right before the emails come out. It takes all of 1 minute to look at filings on OTC and see these companies are nothing. Just curious on other people's take?? Regardless, I wish best of luck to those still stuck in this disaster.
Nope. Just a pump, from a fairly well known pump group, that, justifiably was shut down. It ran about 3 weeks which is about the shelf life anyway and would have been better for many if it were shut down sooner. But, the emails were word for word identical from pump to pump with only the ticker changing and the price patterns were awfully similar...just another criminal enterprise slowed for now...might be time to change the "website" yet again....
No. That is not what happened. It isn't what ever happens. The SEC always conducts its own investigations. People can't just call up and say: "Suspend this stock".
The thing about the SEC is that while they're willing to let countless obvious scams slide, once they do take an interest in specific perps they don't let go.
They ignored APS for several years before finally deciding it had to be stopped. Three suspensions in a row accomplished that. When it began to look as if Finest Penny had become the new APS--with at least some of the same players--eventually they acted. First they suspended BRKO, then MWOG. Both suspensions came fairly quickly after the promos started. There's a limit to how fast the SEC can act, because suspensions have to be run past, and approved by, the Commission. (Which is stupid, but that's another story.) So the shortest possible time between the start of an investigation and a suspension is about a week or ten days.
It looks as if the people behind Finest and Elite decided it'd be too risky to use the Finest network again, and went with the lower-profile Elite network for MJMI. But the SEC was already onto them, and another suspension was the result.
Promoters are not happy campers these days. So many have been nailed by the SEC, or, worse yet, prosecuted in the past few years that they're being very careful. There aren't many big, expensive promos anymore. Much of the action has shifted to amateur and semi-pro pumps run on the social media. They don't have significant financial backing, and so aren't capable of sustained price and volume action. Most are over within a few days.
it looks like to me that people who had a short order in where getting squeezed and got mad because they where loosing money.
So they call the sec to file a complaint for weired activity on the trading even though there was none they were just getting hammered. So now this will make the stock bad and when it comes back on for trading it would go down for those who where short to get there money. THIS IS SO DIRTY!!! Maybe all who where in on long positions should stay in and cause it to go up when the sec finds nothing wrong with the stock.
As usual, someone with some expertise steps up to clarify this penny stock controversy.
You're probably spot on about the SEC's priority list and how its approach to penny stock promotions ebbs and flows.
That said, it becomes more a matter of some folks taking the responsibility upon themselves to inform the investing public at large about the pitfalls associated with investing in highly promoted penny stocks.
When it comes to enforcement beyond mere regulation, if the SEC shuts down one promotion while 99 others see no action it's difficult to say the SEC is keen on enforcement.
Lot of people out there in the world planning the next promotion.
You're the dedicated one.
Today, MWOG closed at 0.029. But that doesn't really matter. Once suspended stocks resume trading on the Greys, they normally sell off dramatically, if not immediately, within a week or so.
That's because people who bought into whatever pump there may have been sell off. Once they're done, there aren't many left in the play. They don't sell, and even if they want to, there's nobody left who wants to buy. Remember: trades are matched.
As time passes, volume dries up, and the stock becomes illiquid. Price usually stabilizes at a point higher than makes any sense, unless it was formerly a very high volume issue. In that case, it may just crash and burn into the triple zips.
Whatever happens, formerly suspended Greys are not viable options for anyone.
folks with no particular ax to grind, other than the fact they detest stock promotion scams, can easily contact the bird dogs at the SEC, and witness quick action. In the past, my guess is it took quite a bit longer.
No, not really. The SEC doesn't give priority to penny stock scams. It seems that to some extent whether they pay attention to complaints has to do with whatever their current agenda is. Back in the first half of 2014, they were zapping pot stocks regularly; that certainly cooled off the market. And then in September of that year, it suddenly stopped.
Since then, penny stock suspensions for cause have become much less common. I deplore that, but on the upside, they seem to have been engaging in comprehensive investigations, often in collaboration with the DOJ, that have resulted in prosecutions of many bigtime penny perps.
That's a laudable priority. But in my view, there's no reason they can't also just suspend junk pennies and leave them to die on the Greys.
Is there any sites or a way to get on the list.
Why would you want to get on the list? Their last three "picks" have been suspended by the SEC.
As I understand it, these kinds of promotions of shell corporations have become much harder to pull off.
They have. The promoters behind this pump seem to include some of the people associated with APS. But we don't know who they are. As Finest Penny, they touted BRKO and MWOG. Both were suspended. So they switched to their Elite group for MJMI, but evidently the SEC was already onto them.
MJMI will not go to grey.
Yes it will. They all do, because the suspension puts them in violation of Rule 15c2-11. After four days with no quotes, MJMI will be dumped to the Greys.
You compare it to MWOG, and rightly so. Both were promoted by the same group. MWOG has been Grey since its suspension:
http://www.otcmarkets.com/stock/MWOG/quote
I'll bet you anything you want, when this stock opens it will open in gray and at most .02.
The operative word there is "was". Actually, I see it traded as high as $.71 before disaster befell it.
Things being the way they are now, what with online trading, and communication traveling at the speed of thought via the Internet, folks with no particular ax to grind, other than the fact they detest stock promotion scams, can easily contact the bird dogs at the SEC, and witness quick action. In the past, my guess is it took quite a bit longer.
Sometimes those emails arrived in my Yahoo box a bit late to be relevant. Maybe it has something to do with the infrastructure of the Internet itself.
I did find it amusing.
Question now is: will the promoter send out another email with some explanation regarding the trading halt?
Doubt it, myself.
Received a 6:48 am email stating this was at .65! How can they claim such rubbish?
Just want to say I never thought this was real.
Was just in it for the bottom bounce before it came down more.
Unfortunately for me this happened
sorry. i won't help you. there are plenty of others who will if you know where to look.
That's The OTC. Just would like your knowledge to get on that list or know other sites. If you do I would love to hear it.
gee, tell that to all the people who are going to lose money on this scam because they thought it was real.
I've made a lot of money off of them. If you know what your doing . It's profitable not saying you don't, but I love promos, and there not a left. So if you know I will value your help.
lol. why would you want to get on a mark list. those scams are in business for one reason and one reason only. to transfer money from your wallet to theirs.
Been following APS and Victory mark for a while. I will say this. Did not know they were making new sites finest and equities were the main. I used IP look up to other hosted websites. Didnt see any. I tried to susscribe to excellentpennystocks.net it won't let me confirm my subscription in fact I dont even get a conformation email. Is there any sites or a way to get on the list.
Unfortunately. The suspension should've come way sooner, they let this thing go the whole stretch basically. A few of their other pumps got halted very quickly, one within hours as I recall. Limits the bleeding a bit. So obvious though, almost verbatim emails with only the ticker changed from pump to pump, same garbage. IMO, they'll change the websites and start over soon enough.
U called that one...feel bad for the folks still stuck in this.
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