Source Interlink Companies, Inc (fka SORCQ)

[xihil]

What the hell happened to this company? I used to work there in 2004 and the share price was $12. Granted, I did see a bunch of stuff that made me raise an eyebrow, so I left. I also think Les was retiring the following year as well. Seems to have plummeted since then.

[learning as I go]

looks like....stick a fork in it....its done

[Charming Trader]

IMO the shares are toast.

CT

[PeanutButterJellyTime]

go to this link, check out the News headlines. The second one states that it delisted from the OTC Pink Sheets... however the link won't open up.

http://www.google.com/finance?q=OTC%3ASORCQ

[everett7]

It's not trading on the pinks today, was trading suspended??? So strange

[PeanutButterJellyTime]

They're still alive... for now it seems:

http://www.tradingmarkets.com/.site/news/Stock%20News/2390279/

[Charming Trader]

Talk about vanish without a trace. I can't find them anywhere

What does it say in the accounts of the people that have shares?



CT

[everett7]

Why did this stop trading?

[faust357]

52% insider ownership of shares-bodes well for the survival of the commons..

[world]

i went to sec complaint but got nothing, in short can anyone explain what might be there? does anyone have any good history on the co. and any other good and valid info for everyone to view

[everett7]

Almost every BK stock gets cancelled, normally they trade for over a year or more after the BK filing, the cancelling of shares is already figured into the price on all BK stocks

[Charming Trader]

That would be a good idea, however the court has not made a final vertict wheather or not the security will be cancled. If it is the the shorts will not have to cover, so what's to say they don't continue to naked short and drop this thing to 0001.

Please also note that last week this was not a sub-penny stock.

CT

[everett7]

Yeah good luck with them and sub penny stocks, you're best off using the manipulation to your advantage, just buy as many shares as you can down here and they'll eventually take it up.

[Charming Trader]

Sec Complaint DEPT

http://www.sec.gov/complaint/cf942sec9570.htm

or

SEC Division of Enforcement
100 F Street
N.E. Washington, D.C. 20549

[vinc]

Thank you very much. I think that she can again fall more low as Genta in 0017 and bounce from gaps. I wait even before launching to me!

[Charming Trader]

I think the easiest way to say it is Market Manipulation.

Today alone, it has traded more than the float.

CT

[vinc]

What happens with this share? Could anybody give me the reasons of this heavy fall? Thank you very much.

[everett7]

Wow they're naked shorting the crap out of this one, any idea why? I checked the regular short interest and it's only 100,000 shares. This has been on the SHO list the last week

[gettrichnow]

My orders are not getting filled. Was gonna buy earlier today above .013 but didn't like the way it was trading, came back from lunch and watched this drop. I'm playing the technical bounce but no MM's filling my order. not gonna chase it...

[Charming Trader]

That was such a scam. I got out at a $500 loss. MM shorted the shared with the 2 million the other day when it dropped 80%. I think they did it to buy back the 10.5 million that was still short. After that the flippers took it.
Where is the SEC?

They should be on the phone with the broker that made that trade having them prove that those were legit shares..


I looked at the docket for the case and I saw dates that had the case going until at least July 17.


GL
CT

[gettrichnow]

how far is this going down?

[The Night Stalker]

its alive big wall at .018 right now

[The Night Stalker]

on fire today, damn the minute i decide to buy its too late

[$tockfather]

Hey 714trader, You want a good bounce back play. Check out HAYZ.

I was in & out of this for the last week or so. I was lucky to have sold my position at noon today. I'll be watching this one very closely tomorrow. It's already down over %50 in AH @ .15

GLTY:)

[$tockfather]

Sold the rest of my position this morning @ .135

Put the proceeds and added more into GNTA. This baby is really flying @ the moment:)

GLTA

[$tockfather]

Yep, I'm still in it:) I was waiting for this type of bounce to occur. I think theirs more room for this to climb. Hell of a short interest 41%. But I'll give it until Monday to see how it opens and trades before I decide on selling. It's going to be delisted come Thursday, so I want to dump before then.

I think I'm the only one on here that held a position.lol

Nice going with ANX....Not very familiar with that one, but your right a profit is a profit:)

GL

[714trader]

You still in this one? I got out a few day ago and I'm regretting it.

I think this still has room for more. Not sure if it dipped back to .13 during today's trading, but I would use that as a loading zone. Stochastic, OBV and candlesticks looking good!

I'm playing ANX right now. Heck of a dip today. Went to .08 pre-market then hit it's .1689 trading range it was in the last few days. Not quite the gain you guys had, but hey, profit is profit!

[$tockfather]

I think we might see a very strong close here today.IMO

It's holding nicely @ 0.14 - 0.155 range. Looks to be setting up for another run soon.IMO

Come on.....I want to see this squeeze like there's no tomorrow:)

[$tockfather]

Seeing a nice run happening right now....With 41% short interest this could get really exciting:)

GLTA

[$tockfather]

How does privatization affect a company's shareholders?



The most recognized transition between the private and public markets is an initial public offering (IPO). Through an IPO, a private company "goes public" by issuing shares, which transfer a portion of ownership in the company to those who buy them. However, transitions from public to private also occur. In public to private market transactions, a group of investors purchases most of the outstanding shares in the public company and makes it private by delisting it. The reasons behind the privatization of a company vary, but it often occurs when the company becomes heavily undervalued in the public market.

The process of making a public company private is relatively simple and involves far fewer regulatory hurdles than the private to public transition. At the most basic level, the private group will make an offer to the company and its shareholders. The offer will stipulate the price the group is willing to pay for the company's shares. Once the majority of the voting shares have accepted the offer, shares of the company are sold to the private bidder, and the company becomes privately held.

The biggest obstacle in this process is getting the acceptance of a company's shareholders, the majority of which need to accept the offer in order for the transition to be completed. If the deal is accepted by the shareholders, the company's buyer will pay a consenting group of shareholders the purchase price for each share they own. For example, if a shareholder owns 100 shares and the buyer offers $26 per share, the shareholder will receive $2,600 and relinquish his or her shares. There is a large benefit to this type of transaction for investors, as the private group usually offers a substantial premium for the shares compared to the current market value of the firm.

An example of a public company that became private is Toys "R" Us. In 2005, a purchasing group paid $26.75 per share to the company's shareholders - more than double the stock's $12.02 closing price on the New York Stock Exchange in January 2004, the trading day before the company announced it was considering dividing the company. As this example shows, shareholders are usually well compensated for relinquishing their shares.

[bottomout]

The only thing I can see that you might have missed is; Who are the majority shareholders, insiders? If I was a majority shareholder with significant interests in the Co. than I would vote on buying them back as cheap as possible especially since the debt is getting cleared. I'm sure you know common shareholders have the last rights on any capital.

[$tockfather]

Solid close....I think we might see this have a nice run up tomorrow.IMO
Bid 0.10 Ask 0.13

[$tockfather]

Holding nicely here....I think we might see a green close:)

[ToyotaMR2s]

u too :)

[$tockfather]

Not risking much either here, I'm holding a bit long term to see what will happen. Lets go $1.50:)

GLTY

[ToyotaMR2s]

Thanks buddy! I only nibbled on some shares so if it goes south i won't be finished or anything....:) if they give us the shareholders equity to split among all shareholders i believe that would come out to about 1.50 a share so we'll see...

[$tockfather]

That's some good DD ToyotaMR2s..... But In this situation their is no outside buyer. It's really unclear what will happen with their common shares. I'm hearing a lot of different things at this point. Trying to get info from the company.

[ToyotaMR2s]

Am i'm missing anything? Doesn't this mean we will definitely get paid for our shares? any opinions? thanks

http://www.investopedia.com/ask/answers/05/publictoprivate.asp

The most recognized transition between the private and public markets is an initial public offering (IPO). Through an IPO, a private company "goes public" by issuing shares, which transfer a portion of ownership in the company to those who buy them. However, transitions from public to private also occur. In public to private market transactions, a group of investors purchases most of the outstanding shares in the public company and makes it private by delisting it. The reasons behind the privatization of a company vary, but it often occurs when the company becomes heavily undervalued in the public market.

The process of making a public company private is relatively simple and involves far fewer regulatory hurdles than the private to public transition. At the most basic level, the private group will make an offer to the company and its shareholders. The offer will stipulate the price the group is willing to pay for the company's shares. Once the majority of the voting shares have accepted the offer, shares of the company are sold to the private bidder, and the company becomes privately held.

The biggest obstacle in this process is getting the acceptance of a company's shareholders, the majority of which need to accept the offer in order for the transition to be completed. If the deal is accepted by the shareholders, the company's buyer will pay a consenting group of shareholders the purchase price for each share they own. For example, if a shareholder owns 100 shares and the buyer offers $26 per share, the shareholder will receive $2,600 and relinquish his or her shares. There is a large benefit to this type of transaction for investors, as the private group usually offers a substantial premium for the shares compared to the current market value of the firm.

An example of a public company that became private is Toys "R" Us. In 2005, a purchasing group paid $26.75 per share to the company's shareholders - more than double the stock's $12.02 closing price on the New York Stock Exchange in January 2004, the trading day before the company announced it was considering dividing the company. As this example shows, shareholders are usually well compensated for relinquishing their shares.

To learn more, read Knowing Your Rights As A Shareholder, IPO Basics Tutorial and Why Do Companies Care About Their Stock Prices?

[cosmoworld7]

because if the emerge as a differnt company (different incorporation) all their 'old' debt is wiped out. i know, it sucks, but it happens now and then.

[714trader]

I think the spike was due to hype and a short squeeze. It's been years since I've seen a stock soar like that!

[714trader]

Heh I got out already. Liked it less and less the more I watched it.

CEGE is making for some AWESOME flipping right now!

[714trader]

macroworld.net/m/m.w?lp=GetStory&id=355740451

[$tockfather]

714trader, what was with the spike with CEGE???

Any PR came out?

[$tockfather]

Hmmmmmmmmm.......Looks like .10 might have been a smart sell today

[$tockfather]

Well yes, But when a company is already public and decides to then go private, does that mean that common share holders lose everything???

If they expect to emerge form BK with positive cash flow. How can public investors lose everything???

[$tockfather]

Ouch.....I just saw that. Why such a spike??? @ .75 now

[cosmoworld7]

I thought private means non-public (unlisted) - no??

[714trader]

DUDE! CEGE. Hesitated buying at .5 and minutes later it hit .9. I think I need to open up the bottle...

[$tockfather]

I know what ya mean....Gotta run, gonna miss the EOD. Let's hope we see it close above .10

[714trader]

That's what I'm hoping for too. If it hits that range I'll be out of this.

I'm also keeping an eye on ANX. I'm waiting for it to close the gap before maybe getting in. Looking to get somewhere around .165. TA looks good on it, but as we both saw on SPSN, they'll drag it down to close the gap.