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Thanks for the info, but who would want to buy a grey market stock, especially QSIM under these circumstances ?
If you read the VIVK board, there are many people who think Matt has moral issues.
you are correct in that market makers can't make a market. it will trade on the grey market where there are no bids or asks. if you want to trade it you place an order with your broker and if they have a corresponding match a trade may be made. it's called trading blind.
Yes, mitigate taking funds from buyers, if this ends like this, Matt has moral issues IMO
Matt is good friends with Kevin. Maybe he got back involved to help him mitigate trouble. Just guessing.
It says in the article you provided that...
"Note: The SEC forbids ALL Market Makers from providing any quotations or trading market when the 10 day Suspension expires"
This seems to say to me that it can't trade but I may be reading it wrong.
Question:
How can I trade QSIM on the Grey market?
Who in their right mind would buy a stock headed for revocation ?
Matt was... why get back involved just get suspended?
This is a long shot but on a positive note maybe this happening the company can get the people they are paying in 400K in stock to take a fraction of it other wise they wont be able to get a penny more if the company isn't trading.. and people keep asking why Matt would get involved well he was a founder of QSIM
I don’t know that as a fact but you’re probably correct, and it could be a factor in the halt today.
Who knows, maybe Matt thought he could do just enough to not get red flagged. Though all these huge volume days couldn’t have helped, either.
I guess there wont be an RS, Rotflmao
As far as I’m concerned, if the company is not SEC current then can’t dilute... period...
Agreed, should be illegal, though they did say in their last filing in 2017 that they raised the AS because they knew payments of shares were going to be needed to pay debt. And someone updated the OS a couple of times. And, the per the settlement agreement, Livingston could not have more than 10% of the OS at any given time. So, did they stick to that stipulation or completely ignore it? Was this all part of a ruse or was there truly something going on in the background to get QSIM going again?
If qsim knew they were going be suspended then grey listed and still sold those shares seems illegal. Perhaps more to this. IMO
if all those large blocks were to pay off as much of the Livingston agreement as possible
the company may issue a generic statement about how they are fully cooperating with the sec, blah, blah, blah. it is not unusual in these situations to never hear from the company again.
Matt needs issue a statement and what his plan is. It’s time to come clean and tell us what’s going on.
He may have swapped out a lawsuit with the creditors for one by shareholders.
Sorry to say, looks like you’re assessment is probably correct.
One question still lingers though- if all those large blocks were to pay off as much of the Livingston agreement as possible, who was buying all those shares? The money, in exchange for the shares, had to come from somewhere.
There seems to be a lot of answers today and I hope someone knows this one.
TIA
there's close to zero hope our investment will be anything other than a complete loss.
this will reopen for trading on the grey market on 8/7/19. there is no way to guess how long it will take the sec to revoke. lately it's been 9 months to a year but it could be more or less time. you have until revocation to try to salvage something. glty.
Wow, great information although depressing. Thank you.
So based on this, suspension of QSIM means there's close to zero hope our investment will be anything other than a complete loss.
Guess I should have sold at 1 when I had the chance.
It's just speculation but in light of what's come down today, the bulk shares may have been them satisfying the court ordered settlement before the suspension hit. Even though the shares would be worthless, they issued them thus avoiding a back end law suit.
I guess everything from here is just theories on what happened and Monday morning quarterbacking.
I've enjoyed the conversations with many of you over the years. I hope no one got hit harder than they could absorb.
It would be nice if Kevin came on this board and made a final statement.
well, zero. to be fair, they were all empty shells.
https://www.sec.gov/litigation/suspensions/2012/34-66980-o.pdf
but stocks suspended for delinquency fair no better. the following link is enlightening.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=145804334
I wonder how many of those suspended made it back...
yw. btw, back in 2012 they suspended 379 companies at once and in 2015 they did 255.
Got it, thanks for the info.
there is no link. it is not unusual for the sec to include multiple companies in the same delinquency bulletin.
I just reread the SEC order.
Any idea why SDYD was also listed as a respondent? How are QSIM and SDYD linked together? Was SDYD the RM/acquisition target?
Very bizarre, hope you’re correct.
I don’t know much about it either, though I think we know which reason why we’re on the list.
Doesn’t look good unless Matt is able to miraculously pull something out of his a$$ to fix this. But with seemingly no money, and with no way to sell more shares, let’s see what he does.
I'm not familiar with the "Grey Market". By the definition I found on OTC, it seems to be a very difficult secondary market. Do you just have to find someone on your own that wants to buy the shares? If you do find someone, will a broker / dealer handle the transaction ?
This is what the OTC Glossary says:
Grey Market, "OTC" or "Other OTC" is a security that is not currently traded on the OTCQX, OTCQB or Pink markets. Broker-dealers are not willing or able to publicly quote OTC securities because of a lack of investor interest, company information availability or regulatory compliance
For what it's worth, this is what OTC Markets has on the QSIM page...
https://www.otcmarkets.com/stock/QSIM/overview
OTC Markets Group Inc. ("OTC Markets") has discontinued the display of quotes on www.otcmarkets.com for this security because it has been labeled Caveat Emptor (Buyer Beware). OTC Markets Group designates certain securities as “Caveat Emptor” and places a skull and crossbones icon next to the stock symbol to inform investors that there may be reason to exercise additional caution and perform thorough due diligence before making an investment decision in that security.
The Caveat Emptor Designation may be assigned when OTC Markets becomes aware of one or more of the following:
Promotion — The security is the subject of stock promotion that may be misleading or manipulative. Promotional activities may include news releases, spam email, and newsletters, whether they are published by the issuer or a third party. See OTC Markets Group's Policy on Stock Promotion.
Investigation of Fraud or Other Criminal Activities — There is an investigation or other indication of fraudulent or other criminal activity involving the company, its securities or insiders.
Suspension/Halt — A regulatory authority or an exchange has halted or suspended trading for public interest concerns (i.e. not a news or earnings halt).
Undisclosed Corporate Actions — The security or company is the subject of a corporate action, such as a reverse merger, stock split, or name change, without adequate current information being publicly available.
Other Public Interest Concern — OTC Markets Group may determine that there is a public interest concern regarding the security. Such concerns may include but are not limited to promotion campaigns (including third-party), unusual or unexplained trading activity, spam or disruptive corporate actions even when adequate current information is available.
OTC Markets will resume the display of this security’s quotes once adequate current information is made available by the issuer pursuant to the Alternative Reporting Standard or by the SEC Reporting Standard, and until OTC Markets believes there is no longer a public interest concern. Investors are encouraged to use caution and due diligence in their investment decisions. Please read our Investor Protection page and OTC Markets Policy Regarding Caveat Emptor for more information.
Yeah, not much about this makes sense.
I agree that they had to have known what they were doing and the ramifications for how they were going about it. Were they hoping that they wouldn’t get caught, or were they hoping to have completed what they were working on before doing a full update? Or, were they just diluting as much as possible before they knew they’d be shut down?
I still have a hard time believing the last option because we know the there was an agreement with Livingston, and because all of those large blocks were going to someone- not the typical way these stocks are diluted.
Also, if there truly was a plan to get QSIM going again with a RM or acquisition, wouldn’t they have to have been working on their books for an eventual filing?
So, it seems to me they got caught midway through whatever it is they have been working on. Whether or not what they were doing was nefarious or not, I’m not certain. May be wishful thinking on my part but there may yet be more to unfold.
Agree on the loading and holding for years. I wonder who recently loaded all those 2s? This is all just too weird.
Matt and Kevin are sophisticated operators and have worked a long time in Venture Capital and Corporate operations.
They didn't need the letter from the SEC to know their obligations to file and the ramifications for not doing so.
They recently updated their OTC profile for Outstanding shares but didn't bother to update the address in their profile.
It looks like the first filling that shows an updated address was on their 8K filing in March 2019.
it doesn't make me happy to say but this looks done to me. I hope there will be some way to get some value from our shares. Many have been loading and holding this stock for a long time.... for years in many cases.
through their failure to maintain a valid address on file with the Commission as required by Commission rules, did not receive such letters.
They probably changed their address and did not receive the letter(s) on time. I have seen these decisions reversed before but it's rare.
Why Matt get deep into this is bizarre... thus perhaps not end of this story...
As Lucky mydog stated, they're being suspended for not filling 10Q and 10K's. Both are very expensive. 8K's are just information.
They also filed for BK, first I've heard of that. I don't know what it means to be "closed" ..... Was it withdrawn or completed?
On August 4, 2017, QSIM filed a Chapter 7 petition in the U.S. Bankruptcy Court for the District of Central California which has been closed
https://www.sec.gov/litigation/admin/2019/34-86441.pdf
IMO, the 8K's recently filed seem to be CYA docs to avoid fraud.
I'm surprised Matt would want to put his name with this... but based on what I've seen with VIVK though, all recent activity seems to have his fingerprints on it.
But why would so many shares be "bought" with now, no or very little secondary market?
QSIM had to know this action was coming as they must have told the SEC they didn't receive the compliance letter...
they'll be delisted to pinksheet non reporting then gray sheets
they will be a (delinquent) reporting company trading on the grey sheets. pink sheets non reporting is an otcm designation and has nothing to do with the sec. otcmarkets is not a regulatory agency.
I think the reason they are getting in trouble is because the latest 8K should have been filed a long time ago to let Shareholders know whats going on, but by not doing so they have cost investors money they would have not spent on this POS had we known that they are doing toxic dilution they were a OTCQB reporting company so they'll be delisted to pinksheet non reporting then gray sheets
Yes... so I'm not throwing in the towel just yet... perhaps Matt has a miracle up his sleeve... but according to the SEC "...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.
Is it possible they didn't recieve the letters? I doubt it but... loophole perhaps...
NOTICE OF HEARING
At least they filed and the settlement is a black swan. There are opinions on this board that I do not agree with. The SEC may reconsider.
They haven't filed any Q's since 2017... but plenty tickers are delinquent and trading...
qsim filings
filing 8'ks is not meeting filing obligations. filing obligations are filing quarterly reports (10Q) and audited annual reports (10K).
QuantumSphere, Inc. (“QSIM”) (CIK No. 1387135) is a defaulted Nevada
corporation located in Irvine, California with a class of securities registered with the Commission
pursuant to Exchange Act Section 12(g). QSIM is delinquent in its periodic filings with the
Commission, having not filed any periodic reports since it filed a Form 10-Q for the period
ended March 31, 2017,
This is truly weird since it has nothing to do with being delinquent on filings since they recently filed in March and July of this year.
it has less than nothing to do with that. it has to do with violating securities regulations by being severely delinquent in their reporting obligations, as stated by the sec.
Agree very weird.
Weird selling of large blocks shares for months then an 8K about the settlement now suspended...
I think this has something to do with the settlement and will be resolved soon.
I think this has something to do with the settlement as stated in the latest 8-K and will be resolved soon.
considering they are giving shares away 90 million at .000096 I am guessing they are doing some shady things these crooks screwing all us share holders royally
This is not funny. They just filed an 8-K on 7/17/2019. This will be back trading within 10 days.
Agree... appreciate your time and knowledge on this subject... fortunately I only had small wager in this ticker...
yes, the company has 10 days to show why they should not be revoked for securities violations. you have to realize that that means the company has to show how they are not really delinquent. that is impossible.
yes, the company has 10 days to show why they should not be revoked for securities violations. you have to realize that that means the company has to show how they are not really delinquent. that is impossible.
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