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Yes and I was able to sell 50,000 at .01..I have been unable to sell anymore.
Have you tried selling any stock?
What u have to keep in mind with wbxu is the Grey market. If you look closely u will see no bid only ask. Even if you try selling your shares they r not being bought.
I am pleased with how things are looking good at he moment. The fact remains that tradin is going on in the .01 area. This could come from a serious pump that is about to take place since there really is not much sell resistance.
That could happen. WBXU is a delinquent filer.
Janice, what is next after grey market? Halt trading!
That's because HEMP ticker spams. Whenever they put out a PR, they name all the companies their subsidiary has consulting contracts with. Those tickers are picked up by the wire services, and the PRs turn up in their news feed as well.
The dot.coms used to do it back in the late 90s. I remember some particularly sleazy ones that would include up to 20 or so big name tickers in their PRs. Stuff like: What XXXX does is similar to what MSFT, AAPL, INTC…. blah blah blah. In reality the small company was just trying to attract attention from investors in those companies.
Finally the newswires got fed up and refused to run PRs of that kind.
As previously mentioned, it's a partnership and not an ownership. Here is a link to the PR that announced the partnership: http://online.wsj.com/article/PR-CO-20140218-911086.html
I'm confused. I was sure hemp owned them. They also get all the same news as hemp.
LOL!! They just have a contract with HEMP. But HEMP isn't paying them, they're paying HEMP.
Janice, you just burst my bubble! I was hoping Silver's Info was correct! Here we go back too .0001, darn!
HEMP does not own WBXU. WBXU pays HEMP to consult.
The only thing I can say about this is that it has been a super super learning experience for me. I broke one of my personal rules by putting more than $2,500 in a penny stock, and held it after more than a 15% loss. I also had never heard if the gray sheets before this experience let alone learn how I trade on them. The good news is that Hemp owns wxbu. And hemp is a major player in the mj sector. If they stay legit till November and wxbu stays alive, we may see some serious pps increase.
b]To simply say the lied is simply all nonsense.I'm telling you the unaudited reporting of WBXU was the reason for the halt and why they are now on the gray / grey markets. To say they simply lied is non-sense.
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) for one of the following reasons:
Promotion/Spam without Adequate Current Information — The security is being promoted to the public, but adequate current information about the issuer has not been made available to the public. OTC Markets believes adequate current information must be publicly available during any period when a security is the subject of ongoing promotional activities having the effect of encouraging trading of the issuer's securities. At such instances, as a matter of policy, when adequate current information is not made available, OTC Markets will label the security as "Caveat Emptor." Promotional activities may include spam email, unsolicited faxes or news releases, whether they are published by the issuer or a third party.
This is the timeline that describes exactly what OTCmarkets.com states about a reason for being suspended.
April 1, 2013
- notification of late filing for the annual report covering 2012.
January 15, 2014
- The annual report came out on
January 30, 2014
- Accounting firm L.L. Bradford and Company LLC decided to drop WBXU as a client.
March 2014
- WBXU engaged in Paid Promotions and Pumps
April 11, 2014
- WBXU engaged Harly Moore Accountancy Corporation as its new Auditor.
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.
It's 100% the unaudited financials that they tried to correct in April, but at that time it was to late
It's certainly strange. But on such low volume, anything can happen, really.
Blatantly lying about outside service expenses on financial statements strikes me as more severe than just a SEC halt. Shouldn't some form of litigation be following this halt by affected investors?
I mean my theory of unrealized auto loans is bad enough and would account for 'cooked' numbers. But, declaring $100k for accounting services that weren't provided sounds criminal...
WBXU files with the SEC
While WBXU listed on OTCQB, it was a SEC-reporting company.
It's accountant accused it of misleading in the FY2012 10-K when it said it paid $100K for auditing fees, when the results were unaudited.
10-Ks must be audited.
So they both lied and filed a report with the SEC that was inaccurate and inadequate.
And then they didn't file a 10-K for FY2013.
It was for filing unaudited financials.
that is complete and total nonsense. companies do not get suspended for that. here is why they were suspended.
we do know why they were halted. It was for filing unaudited financials.
Form 8-K for WEBXU, INC.
5-Jun-2014
Regulation FD Disclosure
Item 7.01 Regulation FD.
On April 11, 2014, Webxu, Inc. (the "Company") entered into an agreement with Hartley Moore Accountancy Corporation to conduct a full audit of Webxu's financials in accordance with the standards of the Public Company Accounting Oversight Board (PCAOB) (United States). This audit is intended to reflect the Company's financials since its last official filing in 2011. The filings that are being audited are the Annual Reports on Form 10-K for the years ended December 31, 2011, 2012 and 2013.
Won't matter. It's a grey sheet now.
Even if WBXU eventually completes audits for 2011 - 2013, it will still have a very hard time getting back to the pink sheets, let alone OTCQB.
We were also told that they hired a new firm to update their filings, so maybe when that is done we will hear something.
We kind-of know. Reporting and illegal acts.
The order from the SEC talks about suspending WBXU "... because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the company’s finances."
The SEC probably acted because WBXU's prior auditor, LL Bradford quit after WBXU filed an unaudited 10-K, which is not allowed, and probably illegal.
See the following post for more:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=102926307
They were probably halted and re-evaluated because of the bubble forming in their BarNone auto-loan division; it is quite predatory.
And, those loans would likely go unpaid.
Since, we'll never know why they were halted, that seems as plausible an excuse as any.
Wonder if there's some manipulation going on
Somebody just spent $1.50 to buy 150 shares at $0.01 (showing an 11% gain from yesterday's close,) just a few minutes after nearly 200K shares were sold at $0.001.
Or it could just be the vagaries of the grey sheets.
I honestly would like to hear an update of some sort from the company. It seems like some action is going on today and yesterday.
Unload no::: load up?
Sheeesh thats no way to pump
It's on the gray sheets, no bid an ask
I sure hope there is a bid&ask if that happens, so I can unload what I have.
I'm starting to suspect a major pump coming. Total manipulation to the point we could see .05 's coming. If we see .02 this week I would not be surprised. I'm basing this on a similarity I have seen once before only. I know this is a no no, but I believe that although this suspension is real, it may have been intentional to clear a fast path. Any opinions?
I write articles about bad penny stocks. And I've been following them for much longer than I've been writing about them.
Along the way, I've learned a lot about securities law.
Today's trading in WBXU was strange. You don't often see them close above their pre-suspension prices. But it sometimes happens, because there really are no rules on the Greys, except that MMs can't make a market or publish quotes. After awhile trading will settle into a range; one that's probably considerably lower than today's close.
Janice, you are on a lot of the mmj-related boards I post on. And, you always have very definitive information one would expect from a professional trader. What is it you do for a living? And, are you paid to offer us not simply opinions, but 'sure as shit' facts about OTC stocks?
I ask because I have found out so much about securities law after reading your posts.
Could be something awesome like a big investor who knows the legitimacy of WBXU, despite all the negative press right now... maybe even members of the SEC.
Nonsense. This is how Greys trade. It dropped to 0.0001 yesterday because a few people entered market orders. Today, smarter people entered limit orders.
some have shorted once today already, they should be back to short again soon.
No they haven't. Greys aren't marginable, and so can't be shorted.
Yea. Get out when you can while you can. WBXU was never a solid company to begin with (they issued all those high interest car loans through BarNone which are often defaulted on, likely allowing them to declare assets knowing many would be dismissed in bankruptcy).
I only found out about the company when HEMP signed a speculative deal with them.
I haven't heard that deal was off the table yet, but things look really bad on WBXU's end, right now, and I don't expect much better than a short pop here and there.
Even if this company were to make a turnaround, it could take years to come back enough to get a MM.
Your sell at .01 was likely a godsend. If you stay in WBXU, I'll be rooting alongside you because my stake in HEMP would benefit. But, I would not put any more money in, and I would withdraw what I could if I saw the PPS hit .01 again.
Then again, you might get a lucky break on a short pop and be able to break even. GL
More like only a small loss on those 50,000 shares. But in still holding a ton.
See a profit? Take it!
Well I hope that's not the case, and that we are on the verge of a big gain. Wait her way, I should e great full that I sold 50,000 shares at .01 to almost break even on those shares.
it is not at all unusual to see wild fluctuations once trading begins, i think much of it is due to inexperienced traders in the first place who have no idea whatsoever how the grey market works. anyway, people learn quickly and things will settle down in a day or two. the price will stabilize and volume will drift lower.
You seem to be the most informed and knowledgeable, what do ou think happened here today?
Am I mistaken or did wxbu close at .009?
What is going on here??? Can someone give me an opinion?
I only sold 50,000 shares!!! Wish I could have sold more!
Niiiice. Seems odd that a $2500 trade would alter the stock by 10,000%...
Glad you got a good chunk of your money back though. Make sure you're well-diversified if you're going to hold these pennies in the future. Too many sharks in these waters to risk big stacks of cash.
when there is a bid and ask it would be. but a matched market is different. in this case it made for an unlucky buyer, bu a very happy seller.
Trades like that should be unable to process
it was a $2500.00 trade.
That was totally me!!!! Sold some at .01!!!
that was most likely a fat finger trade. instead of entering a buy at .0001, someone entered .01. sometimes those trades get busted if it was a mistake on the part of the mm. if the trader made that mistake they likely just lost 99% of their money.
why is it trading at 0.0099?
what are you confused about?
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We are a media company engaged in developing high-value branded websites to service consumers for products and services. We intend to acquire businesses in this segment of the market where the Company finds synergies with its core platform and business. The market for lead generation services and e-commerce websites and communities is growing as companies are looking to advertise online and find more yield through these channels from their advertising dollars. In a world where consumers are spending a significant amount of time online, companies are looking at ways to provide effective online advertising. Widely recognized companies providing similar services to consumers and advertisers like Internet Brands and InterActiveCorp (IAC) have shown that the market is still in early stages of what will be explosive growth in online advertising and e-commerce.
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The market is currently highly fragmented, due in part to the low barriers to entry and minimal requirements of capital and technology. Thousands of boutique-sized firms focus on one or more segments of online advertising. Industry growth, along with innovation in technology, fuels ongoing expansion in the revenue of smaller firms.
Many successful smaller firms are interested in consolidation with other successful firms that have complementary skills and clients. Execution of our growth strategy will rely on bringing together firms with solid management that can mutually benefit from offering a wider set of services to win and retain larger and more profitable clients.
Boutique-sized Internet marketing firms with less than 50 employees typically provide localized services to customers tailored to specific needs. However, these smaller firms are looking for growth opportunities, and are often vertically deeper in their respective industries than their localized businesses can support. We will source, target, and acquire firms that have high profile and long-standing business relationships, and are run by solid management teams with proven track records. There currently exists many such firms in the E-commerce, Finance, Healthcare, Insurance, and Consumer Services verticals, hence our focus on these industries.
The online advertising market's rapid growth is a key tailwind for success in a buildup strategy. Lead Generation revenue monetizes Internet traffic and is an essential component of today's online merchants and service vendors. Our consolidation presents a unique growth and value creation opportunity for best-of-breed specialist firms to expand to a wider audience and customer base.
List of Subsidiaries
Bonus Interactive Inc., a Delaware corporation and wholly owned by the registrant
Webxu Media, Inc., a Delaware corporation and wholly owned by the registrant
Lot6 Media, LLC, a California limited liability company and wholly owned by Webxu Media, Inc.
WBXU.OB on Forbes.com
As of 5-14-2014 Sent in from mpierson@corporatestock.com
Total Outstanding Shares: 102,719,517.000
Free Trading: 48,637,672.000
Restricted:54,081,845.000
Investors: 121
05/13/2014 Webxu Subsidiary BarNone Completes Integration of Affiliated Partner Dealer Network and Sees Financial Growth
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