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Additionally, the company has changed its state of domicile and jurisdiction from Wyoming to Delaware. NASD has set and announced December 11, 2007 as the effective date for the 500 for 1 Reverse Split of the common stock of Pearl Asian Mining Industries, Inc. and the 75 for 1 Reverse Split of the preferred stock of Pearl Asian Mining Industries, Inc.
Should not it read 1 for 500 not 500 for 1????
I was able to sell some of it but did not recoup all my losses. but I did get out before the last r/s of 7 mil to 1. lol
That's what I'll have, assuming they round me up from 4.76 shares. Oh well they cost me nothing and I did manage to sell a whole $60 worth the first week the Preferreds traded.
That's more than I ever expected to get.
she cleaned my clock and is about to finish me off here. I think I will end up with 5 shares of paiip. Can't sell it anyway.
Sure did. She announced it a few weeks ago though. She's very good at hosing people.
anyone see the daily list. lol
Pearl strikes again
13:42 12/11/2007 PAIIP Pearl Asian Mining Industries, Inc. New Preferred Stock ZNXTP ZNext Mining Corporation Inc Preferred Stock 1-75 R/S **
13:42 12/11/2007 PAIM Pearl Asian Mining Industries, Inc. Common stock (WY) ZNXT ZNext Mining Corporation Inc Common Stock 1-500 R/S **
I lost about $1000 on PAIM a couple of years ago when I got the PAIMP shares.
Whatever I get, just cuts the loss, lol
Whatever I get is all gravy, best not to be greedy I guess.
That's exactly the way I feel, trying to sell at .10
I dropped my offer from $100 down to .10...what the heck, might as well try to get enough for a good bottle of scotch or two out of it.
Ameritrash accepted my sell order, lol
Press release is wrong. R/S has not been done yet. Record date is meaningless, Pearl should know that, Finra/Nasdaq set the ex dividend date, the only date that counts, and they have not yet done so.
It will show on the Other Portal Daily List one of these days assuming PAIM has advised Finra of their intentions.
wrong again dear chas
PAIIP has not reversed yet.
check the daily list.
when is does reverse, the symbol must be changed.
sorry again.
and if it was a short, its a good trade. ill buy back at 0.0001.
Duncanidaho - your 14500 shares of PAIIP should have been reversed by 75 to a total of = 193.333 shares the press release states. I hope your broker didn't screw you by letting your sell order execute without the factor of 75 R/S spilt. Otherwise your account would be SHORT.
FYI
Chas56789
PAIIP Shares 14500, partial sell
I got in my TDA acct. more than 14500 shares of PAIIP months ago.
These were in exchange for shares of PAIMPR, the preferred, that had a cruel 7 million to one reverse.
I had 100 billion PAIMPR, which did not trade.
One day TDA took my PAIMPR and gave me 14500 shares of PAIIP, which also could not be sold and had no bid or ask. PAIIP did not trade either, but pinksheets said the last was 0.01.
I paid nothing for the conversion.
I had a sell order on PAIIP at 0.10 for months. A sell order costs nothing.
Yesterday more than 8000 shares sold at 0.10.
I also had at one time 9.005 of the wierd 'CDO' bonds from PAIM. At the same time these 'bonds' were converted to PAIM common at no charge. I got 900k PAIM shares, sold them all at
0.0005.
All these shares will reverse 7 million to one so get out if you can.
Most statements and news from PAIM are lies. PAIM does not exist. Sorry to all you longs.
I ended up with a decent profit from PAIM.
I also one time got a cash dividend of $30. Amazing.
What do I do about my cert for 6 billion shares.....I forgot about this and found it in my file. I thought for sure it would be worthless by now. What's going on?
did you pay for the conversion? Last time, I paid $50, do I need to write a check like last time?
interesting thing is 70,000 shares traded today. This is from the PAIM R/S pr of Nov 16th :
1 for 75 REVERSE SPLIT of all Issued and Outstanding Preferred Shares. Note, pre-split Preferred Shares bearing CUSIP # 704755 30 5 ISN # 704755 305 9 (Symbol: PAIIP) have been assigned a new CUSIP # 704755 503: ISN# US704755 503 9. The post-split outstanding public float for Preferred Shares will be 40,000 Preferred Shares.
Reduction of the number of Authorized Preferred Shares from “6.0 Million” (6,000,000) to Eighty Thousand (80,000).
Hmmmmmm only 40,000 preferred shares in the float and 80,000 preferred shares in the A/S.
How can this trade happen ?
PAIIP Sold at 0.10
Most of my shares sold today.
You guys wanting to hold are lost. This is PAIM. Complete garbage stock. Any price is a gift.
LOL, those evil mm's and naked shorts will stop at nothing.
It has become interesting again anyway with this Znext Mining.
Not too sure yet what they are up to.
http://www.znextmining.com/
was it a fake release?
Good question, still nothing on daily list about this lastest reverse. Franco says they did file it with Finra, if so, they sure are taking their time which is not normal.
there was supposed to be one per last PR but it hasn't gone thru yet
is there a R/S
what happened to the r/s?
Up? LOL it should be trading at $1200 a share, anything lower is way down. No I haven't sold any, my sell is in at $100.
up 900% ...did you sell?
Holy googly moogly, PAIIP traded.
5k at .10
40857 2x at .01
5k at .10
Got my PAIIP certificate.Can I deposit at my Scottrade account?
Thank you for any info.Webby
zecco and schwab
my account still shows paimp lol
Not if they didn't charge you for the stamp
Should I be sad and depressed?? My fuggin brokerage mailed back my old paim perferred certs with a nice letter saying they can't hold it any longer and told me to fug off... Do I need a drink over this?
Thanks, I really haven't followed this whole sorry story, just want to try to get these shares out of my account without any more expense, lol.
I really don't know what the ratio is now. I don't think they've mentioned it. They might not even be convertible any more.
Any idea what PAIIP shares might be worth, if anything?
How about the original deal where they were supposed to convert into common shares the longer you held, the more they were going to be worth in commons??
Are they now convertible into common shares at some ratio?
What is the ratio...
So many questions... PEARL? are you listening... What is a PAIIP share? lol
maybe tomorrow it will be a buy at 1.00, then 10.00, then back to 100.00 lol
Yep, I got my free PAIIP shares today... all 1757 of them.. At .01 I can make $7.57 after commission... Thank you Pearl... What a steal!
PAIIP: Just received 14,285 new shares
all good so far
can we sell this?
is there a short squeeze play?
scottradr shows a buy of 285 shares for .01 up 4,900%
When I first got PAIMP in my TDW account they showed a market value of I can't remember, $500k to $1.5 million or something like that.
That lasted a couple of weeks then one day I got a phone from TDW rep saying that the market value shown was not correct as there was no way the stock is worth .0001 or more.....I told him to please not tell that to whomever paid me .0001 for some.
The next day they changed the market value to zero and that's where it stays now.
My sentiments exactly.
So what? I showed $15k+ yesterday and today I show 3 cents. The shares were worthless either way.
I don't understand. Who cares what Scottrade or anyone else shows as a price, it's meaningless until it actually trades and someone pays something for it as far as I'm concerned.
is it legal for Scottrade to just alter the pps based on pre split price without any consideration of the 7m to 1 r/s? didn't the last trade occur in August?
Take the $0.0001 per PAIIP share, ASAP...
Because, it takes 5,000 of them
to get 1 "not-quite-free" share of paim.
Which is barely "worth" $0.0007 , this week.
So, 1 share of PAIIPer, is correctly priced at:
$0.0007 / 5,000 = $0.00000014 per share
So, if you sell 1 for $0.0001 , that's
$0.0001 / $0.00000014 = 714 TIMES TODAY'S REAL VALUE,
if you hurry, before the Broker notices, and/or gets fired,
for over-paying you, by a factor of 714 times its face value.
That's like a Broker paying you $464,100
for 1 share of Google, worth ~$650 today (x 714 = $464,000).
P.S.,
Actually, a PAIIPer share is "worth" a little less,
because you have to pay $25 to Niece Bae to "convert"
5,000 shares of PAIIPer into 1 share of paim.
So, to "break even", you would have to get at least $25-worth
of "not-quite-free" paim.
And, that's $25 / $0.0007 = 35,714 "~free" paim shares.
And, to get 35,714 "~free" paim shares, you need to
"convert" 5,000 x 35,714 = 178,570,000 New PAIIPers.
But, too bad, there are less than 6,000,000 PAIIPers in
paim's entire Golden Stream of PAIIPer universe.
Bottom-line:
Sell PAIIPers for $0.0001 , ASAP,
unless, you have less than $10 "worth" of them,
to offset the Broker's selling commission.
Which is:
$10 / $0.0001 = 100,000 PAIIPer sheets of TP (= Trash PAIIPers).
P.P.S.; Just for fun,
Check outsided's recent 3-in-a-row posts,
where she explains how everybody missed out, big-time,
by not shorting PAIMP,
just before it Reverse-Split at 1-for-7,000,000
and reappeared as worthless PAIIPers.
Who the heck knows. They were talking OTCQX but check this:
Mar 29, 2007
Pink Sheets News Service
New York, NY— Pink Sheets has received a copy of a press release stating that Mr. Stephen Czarnik, an attorney, has submitted an application to Pink Sheets in the last quarter of 2006 to become a Designated Advisor for Disclosure (DAD).
The press release also claimed that the approval of Mr. Czarnik would bring Pearl Asian Mining Industries Inc. "closer to listing in the OTCQX this year 2007."
Investors and other interested persons should be aware that Pink Sheets has not received an application from Mr. Czarnik to become a DAD or from Pearl Asian to list on OTCQX. Moreover, Pink Sheets has reviewed the limited information available regarding this issuer, and it does not appear that Pearl Asian would meet the qualifications for an OTCQX listing, whether or not Mr. Czarnik is approved to serve as a DAD.
This announcement was made by Pink Sheets LLC.
Yes..........always the financing..........a gazillion to make a million.........lol
what kind of higher exchange are they talking about for PAIM and PAIIP?
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