QualTek Services Inc (fka QTEKQ)

[retireat40]

I agree...this is toast. Thank goodness I sold Wednesday for a loss. I'd rather lose a few hundred than the whole enchilada. This will re-open on the grey market if it re-opens at all.

[Love the Market]

Thanks Firegiant - have a great holiday weekend.

[Firegiant]

Love the Market,

I appreciate your frustration and understand as I am invested here too and have had other losses on other stocks as well for similar reasons in the past. My recomendation is follow the following tips moving forward it has helped me limit my losses:

1.) Never invest more than you are willing to lose.
2.) Never trust others DD that you can not personally confirm.
3.) Never trust message boards as DD (assume everyone lies)
a.) Pumpers to raise the Price so they can sell
b.) Bashers to lower price so they can buy
4.) Silent companies on the OTC are the highest Risk and the Highest Gains thus refer to rule 1.
5.) Personal Responsibilty You made the Investment while not under duress therefore you and only you are responsible for your gains or losses.

Just My thoughts on QTEK and other stocks.

Firegiant

[Love the Market]

I mean, THOSE guys SHOULD go to jail. Forget the fact I lost $1,500 (IF I sold the original 300,000 at .01 Friday I would have had $3,000). I ADDED another 350,000 BECAUSE of the "promise" of this thing coming back to life.... And ALL the "Posse Pumpers" who came here and said they 'KNEW' a RM was near shouod have their ballz cut off and stuffed down their throats and up where the sun doesn't shine....

If Friday hadn't happened - my shares would still be sitting for a small loss - now it's a BIG loss.... to ME anyway....

Good Luck to us all in ALL our trading....

[Love the Market]

Why the F did this run up last Friday? WHO did it? HOW? WHY? THAT's WHY I BOUGHT MORE...... I had $450 in originally that had been dormant for ages...... I saw what happened and bought another 350,000 shares for .0026 last Friday for $910.00....

[Love the Market]

Now I PAINFULLY know what it means to hear: "You may lose 100% of your investment"

[rockie101]

Has any body heard from the company ?

[rockie101]

I thought stocks on the pink sheet didn't have to keep everything up to date.

[Brad S]

They could be found innocent and things go back to normal..

How could they be found innocent of not filing financial statements? Either they're there or they're not. In this case, they're not. This stock will be on the grey sheets when it opens back up and if they don't respond to the SEC within the 10 day period, the ticker will be revoked most likely within a month. Pretty simple to figure out if you followed a few of these suspensions.

[AliAngel]

Thanks for the great post and right opn target.
It happens and not much you can do.
We all will have to wait and see what the SEC does form here.
Not the first time and I am positive it will not be the last.
Dave

[Nadendla]

Lol..I am in!....Lets see what happens by june 6th...hope you are not screwed..saw your post on other boards where you thought this would go to atleast 0.006 ....

Your posts from yesterday..

retireat40

Share
Wednesday, May 23, 2012 10:41:39 AM
Re: Nadendla post# 1893

Post # of 1927

Fraid not...0012 again...someone tried their best to make it run but the momo is gone.

...Then an hour later..you posted this while talking about triple zeroes on QTEK board..

retireat40

Share
Wednesday, May 23, 2012 11:36:01 AM
Re: PennyStockMania post# 2677952

Post # of 2679827


QTEK (.0015) ran to .02 last week. Should see .006 again short term IMO.

.....we are not screwed till we are really screwed..we will know early next month...Its all part of trading...we have to take risks in our stride..Sometimes it works out in ok..sometimes it doesnot..Lets see..

[retireat40]

Get screwed or did you bail before the halt??

[retireat40]

Those numbers mean nothing and you know it.

[retireat40]

Nice try...this was a scam P&D from day 1.

[Elcappy1]

Has anybody tried to contact the company to see if they even exist?

[halbroke1]

Firegiant, QTEK will come Back Stronger...Financials will show a Stronger Value for QTEK...10 is not to long to wait for Pennies..They just had some Neglect in Filing..

[Firegiant]

If the company does respond and begin trading adain this could be a good thing....The reponse is current finanicals and such maybe we will see even more value in this company after the respone.....JMO

[halbroke1]

QTEK will be back, will fix some filings and get things in order

[Captain Hindsight]

Crazy stuff brother good luck and happy trading.

[Bill The Thrill]

No filings in 5 years. I can see 1 year but a company is asking for a suspension for no filings for that long.

[atotalbum]

If u get lucky it will trade on grey sheets but most likely it wont trade at all and ur moneys gone, Ive lost thousands b/c of these suspensions its total bs

jmho

[Captain Hindsight]

Wow I am so glad I took the bounce opp yesterday after the .001 hit to sell my .0014's for .0015. Pretty much even after fees and all the BS.


Stay away from the group that ran this up, criminals IMO

[Renee]

Excerpts from the ADMIN Proceeding: (red hilites mine)

I have added a link to the SEC Administrative Law Judge (A.L.J.) for readers to peruse. Note that the SEC A.L.J. has revoked over 540 registrations in the past 2 years on DEFAULT reasons, where a Suspended company did not immediately file delinquent Financials as Ordered. Most revocations occured within one month of the SEC Suspension.

Administrative Law Judge link:

http://www.sec.gov/alj/aljorders.shtml

QTEK: SEC Admin Proceeding:

http://www.sec.gov/litigation/admin/2012/34-67051.pdf

Quintek Technologies, Inc. (CIK No. 1107714) is a suspended California corporation located in Huntington Beach, California with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g). Quintek Technologies is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10-QSB for the period ended September 30, 2007. On August 6, 2003, a permanent injunction was entered against Quintek Technologies, enjoining the company from violations of the Exchange Act, including Section 13(a).

B. DELINQUENT PERIODIC FILINGS

7. As discussed in more detail above, all of the Respondents are delinquent in their periodic filings with the Commission, have repeatedly failed to meet their obligations to file timely periodic reports, and failed to heed delinquency letters sent to them by the Division of Corporation Finance requesting compliance with their periodic filing obligations or, through their failure to maintain a valid address on file with the Commission as required by Commission rules, did not receive such letters.

B. Whether it is necessary and appropriate for the protection of investors to suspend for a period not exceeding twelve months, or revoke the registration of each class of securities registered pursuant to Section 12 of the Exchange Act of the Respondents identified in Section II hereof, and any successor under Exchange Act Rules 12b-2 or 12g-3, and any new corporate names of any Respondents.

IT IS HEREBY FURTHER ORDERED that Respondents shall file an Answer to the allegations contained in this Order within ten (10) days after service of this Order, as provided by Rule 220(b) of the Commission’s Rules of Practice [17 C.F.R. § 201.220(b)].
------------------------------------------------------------------

Excerpt from the SEC Suspension that clearly shows that QTEK will trade on the Grey Sheets after the ten day Suspension, with no Market Maker representation:

Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspensions, no quotation may be entered relating to the securities of the subject companies...

http://www.sec.gov/litigation/suspensions/2012/34-67050.pdf

[Lady Shay]

Basically right now QTEK is in timeout.. Depending on what happens in the next 10 business days. Several things can happen.. They could be found innocent and things go back to normal.. They could be cited and then it could hit gray market.. Or it could be over.. To sum it up as simply as I can for the newbies.. I have seen all 3 different scenarios over time.. Right now we just watch and wait..

Nothing is definite at this point. Have another cup of coffee and remember this is the market, we all enter at our own risk.. Do your own DD. Also consider it as a learning experience, I watched it rise and fall this past Friday and that has to draw attention or need for explanation. And yes I also hold a sizable chunk in this stock.

I'm not panicking at this point.. Life happens!

[Love the Market]

Oh GREAT! We've been SUSPENDED from trading for being non-compliant.

I got SOOOOOoooooo excited when I saw 5 NEWS hits!! Crap- I thought it was RM news or something GOOD.

Has anyone ever been through this before - and if so, any idea how long it may be until QTEK complies and we're good to go???

Or are we dead in the water???? TIA

UPDATE: SEC Suspends Trading Of 7 More Noncompliant Companies
Last update: 5/24/2012 10:26:58 AM
--SEC suspends trading of seven stocks over questions concerning available public information
--SEC has been ramping up efforts to crack down on companies that are dormant or delinquent in their public disclosures.
(Updated to include suspension of Indocan Resources Inc.)
DOW JONES NEWSWIRES
The U.S. Securities and Exchange Commission temporarily suspended trading of Indocan Resources Inc. (IDCN) because of questions concerning the adequacy of the company's publicly available information.
The Morehead City, N.C., company trades in the over-the-counter markets and the suspension ends June 7.
The SEC also suspended trading of six other stocks through June 6, as the regulator continues to crack down on companies that haven't filed periodic reports.
The suspended companies are Quintek Technologies Inc. (QTEK); Saint James Co. (STJC); Urigen Pharmaceuticals Inc. (URGP); Valor Energy Corp. (VLEN); Wherify Wireless Inc. (WFYW); and WinWin Gaming Inc. (WNWN).
The SEC has halted trading of several noncompliant companies over the past year as it ramps up efforts to crack down on fraud, such as pump-and-dump schemes, involving microcap companies that are dormant or delinquent in their public disclosures. Microcap firms typically have limited assets and low-priced stock that trades in low volumes.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283; [e-mail]
(END) Dow Jones Newswires
May 24, 2012 10:26 ET (14:26 GMT)

News provided by Dow Jones NewswiresSM, PR News Wire and Business Wire. Dow Jones Newswires is a service mark of Dow Jones & Company. PR News Wire is a Trademark of PR Newswire Association, Inc. Business Wire is a registered trademark and service mark of Business Wire.

TD Ameritrade is not responsible for the quality and suitability of third party financial or investment information or services. Brokerage services provided by TD Ameritrade, Inc., member FINRA/SIPC/NFA. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. All rights reserved. Used with permission.

[GJcoach]

I see temporary suspension not halted. Probably will lead to that though.

[lucky, mydog]

does this mean i cant get out of this pos

not for at least 10 business days when the suspension expires. this will re-open for trading on the grey sheets and you may be able to sell then.

[potatoeater]

Halted. You get a nice tax write off. It will never see the light of day again just like the rest of them.

[krammer1]

Halted or suspended what does this mean i cant get out of this pos

[Lady Shay]

MODS PLEASE STICKY THIS INFO

[Renee]

QTEK SEC Suspension:

http://www.sec.gov/litigation/suspensions/2012/34-67050.pdf

ORDER:

http://www.sec.gov/litigation/suspensions/2012/34-67050-o.pdf

ADMIN Proceeding:

http://www.sec.gov/litigation/admin/2012/34-67051.pdf

[StockKingArthur]

way to hang in there man,,,,,,,,,

[Short-Hunter]

No shorting going on my a.s.s

May 23 52.47% NA NA NA NA 6,608,216 12,594,850
May 22 41.29% NA NA NA NA 1,581,100 3,829,587
May 21 45.61% NA NA NA NA 3,208,088 7,034,365
May 18 30.32% NA NA NA NA 13,012,691 42,911,467
May 17 31.42% NA NA NA NA 2,869,707 9,133,040
May 16 27.34% NA NA NA NA 1,070,000 3,914,000
May 14 49.66% NA NA NA NA 126,000 253,700
May 10 63.15% NA NA NA NA 857,000 1,357,000
May 02 15.75% NA NA NA NA 326,650 2,074,395
May 01 54.67% NA NA NA NA 1,876,675 3,432,708
Apr 30 38.92% NA NA NA NA 458,000 1,176,920
Apr 27 37.69% NA NA NA NA 610,000 1,618,678
Apr 26 26.19% NA NA NA NA 1,294,250 4,942,035
Apr 25 52.75% NA NA NA NA 17,004,934 32,238,338
Apr 24 45.96% NA NA NA NA 6,449,661 14,032,949
Apr 23 71.69% NA NA NA NA 2,633,888 3,673,888

[LarryM1977]

i grabbed some of these at this level.......loved the 27k dump for 35 bucks though, that was classic.......i am not concerned here, it ran on some crap before, but the real play here is to just wait on the r/m and i plan on sitting on quite a few shares for then.....been making some coin off another pos to bring here and can do that over and over........

[halbroke1]

Buy, Buy People QTEK really Cheap Now..With News and we fly to Pennies....And Something Big is Cooking...

[Elcappy1]

Alot more buying than selling....

[harbor66]

Love the volume, not the pps :(

Added more, for the bounce:)

[stockrider]

I looked at the trading pattern and chart. This is definitely going to close above 0.002 today and will continue the run tomorrow imo

[stockrider]

There is something going on behind the scenes imo since shares are being collected last two days and high volume is coming in consistently. Can take off big time starting this afternoon if this buying continues..

[retireat40]

Fraid not...0012 again...someone tried their best to make it run but the momo is gone.

[Nadendla]

you do the same...you have doubts about this..yet you are in the stock..what does it mean?.

QTEK

[Captain Hindsight]

as did you

[Nadendla]

You spoke too soon....Don't you think..Like i said Patience is virtue...should not jabber like a slackjawed moron...Rofl!.

QTEK

[retireat40]

Looks like you made a smart move staying away at .0025 levels. .001 might be a good entry but this may see .000's today. VERY disappointing.

[Captain Hindsight]

The finger print left behind

[Captain Hindsight]

Absolute textbook front loaded pump and dump...


Beware of the ochestrator's, my complaints have already been filed.

.02 to .001 in 48 hours.

[retireat40]

12x15 Will check back EOD...

[retireat40]

12x17 big spread...looking like a low volume day.

[Nadendla]

You would never have answered my posts if you had me on ignore!.You need to work on your patience and manners too!.The way you respond to others prove that you are an imbecilic austrolopithecus who have to have his own way no matter what...lol!.what would you do if this started running again?...Perhaps you would be glued to the L2,panting and would lose your senses at the unthinkable that happened..Also I never iggy anyone...

QTEK

[retireat40]

As far as the shorting BS regarding this stock...there are ZERO American brokerages that allow shorting of subpenny stocks. No one was/is shorting this. Longterm holders and frontloaders have been selling into the increased volume. Without a significant pump and/or news, another big run is unlikely.