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Yeah Boy! That's what I'm talking about holmes. Fuck the police.
Matt,
Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange. Orange.
Nothing rhymes with orange.
Matt,
What's the crime, what's the time, what's the fine? Hope you don't mind that this post rhymes. It's by design. Just because I called them slime shouldn't mean I'm forced to resign. They're lime--with envy--because my charts are divine. No, I won't die on the vine because the slime are inclined to find my words sublime.
Signed,
But Anyway
Ode to Matthew Brown...
[Suppressed Sound Link]
Court Rejects Suit Against Web Song-Swappers
Friday April 25, 2:44 pm ET
WASHINGTON (Reuters) - A federal court in Los Angeles rejected the recording industry's case against online song-swapping services Grokster and Morpheus on Friday, Grokster President Wayne Rosso said.
"The case filed against us by the RIAA and the MPAA has been thrown out of court," said Rosso, referring to the trade groups for the recording and motion-picture industries that had asked the court to shut down the two services.
The two services allow users to trade songs, movies and other material freely over the Internet. The Recording Industry Association of America has aggressively sought to knock such services offline, saying they have contributed to a global slowdown in CD sales.
http://www.investorshub.com/boards/read_msg.asp?message_id=951459
What good can come about it? Not only is it in contravention of the rules of the thread which implicitly state posts regarding messengers and their messages are strictly prohibited but it is the same hypocritical vitriol that seems to spew from the cult members small-minded attitude about once every month. Frankly it is so pathetic as to be amusing; individuals attempting to push their notion of how the thread should flow at the same time breaching the structural spirit of terms of service.
Accepting reality as it were, the "bashers" and shorts have been dead-on regarding this obvious pump and dump scheme. If anyone's voice is deserving of marginalization or carefully kept in check it is the voice of the pollyannaish cult; the cabal which endeavors to employ discussion threads such as this one as a means to manage shareholder sentiment (quite possibly to reduce competition for the bid as they divest clandestinely themselves) and better - attract new blood.
chwdrhed,
I post a chart of e.Digital with some reposts of messages from a visible member and it is nuked in eighty-five seconds. 98% of the posts today are off-topic and the same repetitive whining by the cult members demanding no one speak ill of their deity, yet they stand.
At your convenience please delete the off-topic posts, including this one.
EDIT: The fact of the matter is it is those who are trying to impose restriction on what is said that are the same individuals who can't adhere to the rules to begin with.
Why? The answer is self-evident.
1.) Fifteen cents to zero is the same 100% return as fifteen dollars to zero.
2.) It is extremely probable that e.Digital will go to zero, or some variant of zero - like $0.005.
Therefore I submit that e.Digital is a better shorting opportunity, offering superior reward relative to risk, then many companies in the universe of Nasdaq and NYSE listed stocks.
All the trouble of going off shore? Trouble meaning faxing some paper work?
In all honesty I will be satisfied when e.Digital finally gives up the ghost and drops to it's fair value of $0.00 per share. I take no issue with the corporation or many of it's shareholders however the management team consists of unscrupulous individuals focused entirely on enriching themselves even if it requires violating the fiduciary responsibilities owed to the company's shareholders. As the past five years have fleshed out, they could careless about running a company focused on increasing it's intrinsic value and worse they lie, distort and obfuscate in an effort to disguise this fact. They are classic penny stock swindlers.
Actually OTC-BB securities are not marginable, a prerequisite to shorting stock since shorting requires borrowing shares and selling them in the market. However many Canadian-based market makers stretch the SEC regulations which allow naked shorting (short-selling shares without borrowing them first) if executed in an effort to provide liquidity to the market.
American citizens cannot open Canadian-based brokerage accounts. However Americans can create off-shore (Cayman Islands, for instance) entities which can open Canadian-based brokerage accounts.
The amount of time and effort invested by the cabal to systematically mislead investors, whether by blatant lies or obfuscation, is quite fascinating. One can only hope that life reciprocates the underhanded deeds of these unprincipled individuals.
A more timely discussion might surround the accrual of dividends relating to the Series D stock. Specifically the additional dilution pertaining to the 12% annual dividend feature of the Series D stock (assuming e.Digital satisfies the dividend with common stock, a near certainty given that the company is broke).
At an average share price of $0.15, the quarterly dilution pertaining to the dividend feature of the Series D is approximately 400,000 shares per quarter.
As the inevitable occurs and the share price moves significantly lower, the dilutive nature of the stock-satisfied-dividend becomes increasingly more destructive as more shares are required to cover the fixed rate.
3. DIVIDENDS. The holders of Series D Preferred Stock shall be
---------
entitled to receive, out of any funds legally available therefor and the
Corporation shall pay, dividends at the fixed rate of twelve percent (12%) per
annum, payable in quarterly installments on the 1st day of September, December,
March and June of each year. Such dividends shall accrue from the date of
issuance of the shares of Series D Preferred Stock and shall be deemed to accrue
from day to day whether or not earned and declared. Such dividends shall be
payable before any dividends shall be paid, declared or set apart for any other
class of stock, and shall be cumulative so that if for any dividend period such
dividends are not paid or declared and set apart therefor, the deficiency shall
be paid, in whole or in part (without interest), on the next succeeding dividend
payment date on which the Corporation has any funds legally available therefor.
Until any delinquency has been fully paid or declared and set apart for payment,
no distribution, by dividend or otherwise, shall be paid on, declared or set
apart for any other class of stock of the Corporation and no shares of any other
class of stock shall be acquired, directly or indirectly, by redemption or
otherwise, except for the repurchase by the Corporation of shares of Common
Stock for an amount not in excess of the original sale price thereof pursuant to
employee stock purchase agreements. Notwithstanding the foregoing, the
Corporation, in its sole and absolute discretion, may pay such dividends through
the issuance of (i) fully paid and non-assessable shares of Common Stock
determined by dividing the accrued but unpaid dividend by the average closing
bid price for the Common Stock for the 10 trading days immediately preceding the
applicable dividend payment date or (ii) if available, fully paid and
non-assessable shares of Series D Preferred Stock determined by dividing the
accrued but unpaid dividend by.
You are correct.
The cult members opportunistically and inappropriately misapplied or misinterpreted, or both, a section of the document.
What Section 6(b) details is e.Digital's right to withdraw a registration statement, however this clause is irrelevant to the registration of the Series D stock.
Specifically, if e.Digital were to file a registration statement unrelated to the Series D stock, the Series D holders may elect to convert their shares and participate in the filing.
However Section 6(b) permits e.Digital to withdraw the unrelated registration statement at the company's election without recourse from the holders of the Series D stock.
UPDATE - EMI unveils major online music push
Wednesday April 23, 1:26 pm ET
By Merissa Marr and Bernhard Warner
LONDON, April 23 (Reuters) - EMI Group Plc made its boldest online push yet on Wednesday, signing deals to put the bulk of its music catalogue on the Web in Europe in a drive to exploit a medium that has threatened to bring the industry to its knees.
Hobbled by the spread of free music on the Internet, EMI said it was supplying 140,000 songs for download through 20 European digital music distributors including Microsoft Corp's (NasdaqNM:MSFT - News) MSN, music channel MTV (NYSE:VIA - News) and retailer HMV(London:HMV.L - News).
Norah Jones, Pink Floyd and David Bowie are among 3,000 artists on EMI labels who have agreed to supply their music to the Web sites as the bruised music industry attempts to revive its fortunes after three years of declining music sales.
"This will undoubtedly grow the market ... it means potentially consuming more music in more places more often," said Tony Wadsworth, CEO of EMI Recorded Music UK.
EMI shares closed 3.8 percent up at 115 pence in London.
The music industry has been scrambling for a remedy as a host of renegade online services draw away fans with free music, forcing global sales sharply lower. Music companies are now beginning to turn to the technology sector with greater zeal.
Earlier this month, reports surfaced that computer maker Apple (NasdaqNM:AAPL - News) and Microsoft have taken a look at buying the world's biggest music company Universal Music (Paris:EAUG.PA - News) -- talks that many observers regard as remote, but which symbolise the age of greater interaction between the two industries.
GOING LEGIT
To combat online piracy, music companies have started backing legitimate subscription sites, while filing lawsuits against free sites.
In the latest legal battle, EMI and Universal Music filed suit on Monday against venture capitalists who backed Napster.
But so far the industry has had little success in persuading users to abandon free sites that carry a larger music selection.
Under the EMI deal, consumers will be able to make permanent copies of songs and transfer them to recordable CDs, portable music players and their computer hard drives. Consumers can also purchase singles online once they hit radio airwaves.
With this deal, European consumers will be able to listen to and download more than 200,000 tracks from the major music companies, giving them access to many top-selling artists.
Having doubled its online catalogue, EMI said it also plans to double the number of European sites selling its music.
PRICE STILL AN OBSCTACLE
In addition to a limited selection, a big criticism of the online efforts of major music companies so far has been price.
In many cases, it has proved more costly to download a full album off the Internet than buy it in a store, providing little incentive to fans currently downloading for free.
"Making more music available online is significant, but making it available at the right price would be more significant," said one Internet music official.
EMI declined to comment on the wholesale price it had set with retailers. However, the music company acknowledged that online prices needed to be lower than traditional retail.
"We could very well see keener pricing among the online retailers but we are not in control of that. We have priced with the intention of achieving something that compares favourably with traditional retail," said Fergal Gara, vice president of EMI Recorded Music Continental Europe.
Analysts say the price per track download needs to fall to below the current pan-European market price of one pound ($1.57) before significant consumer demand kicks in.
Many analysts forecast more pain before the music industry tames the online beast. Market analysis firm Jupiter predicts the market for music downloads in Europe will reach just 550 million euros ($602.3 million) by 2007.
EMI said more than 90 percent of its live catalogue, with the notable exception of the Rolling Stones and Beatles, had signed up to its European online deals.
"Some artists will want to wait and see how the market develops," said Wadsworth.
Up until now, EMI placed stringent restrictions on which songs European consumers could download. A similar deal was drafted in November for the North American market.
Macrovision Announces License Agreement for Distribution of the Microsoft Windows Media Data Session Toolkit
Wednesday April 23, 8:37 am ET
Distribution will Facilitate Worldwide Deployment of Secure Music CDs that Enable PC Playback and Transfer to Portable Devices with Windows Media DRM
SANTA CLARA, Calif.--(BUSINESS WIRE)--April 23, 2003-- Macrovision® Corporation (Nasdaq: MVSN - News), the world's leading developer and vendor of content protection and security technologies announced today a license agreement with Microsoft under which Macrovision will provide worldwide record labels with the capability to design and produce "dual session" music CDs that contain both Red Book audio files, which play on traditional home and car stereos, and also include "second session" files that can be played and stored on a consumer's PC and portable devices.
Microsoft and Macrovision will work together to ensure great consumer experiences while, at the same time, providing a robust rights management environment for record labels.
By virtue of this agreement, record labels will have access to a comprehensive copy protection, authentication and DRM solution for their music CDs from one source for worldwide deployment. Macrovision has agreements with replicators in North and South America, Europe, Asia, and Australia; and Macrovision's CDS(TM) technology has been used to protect over 100 million music albums to date.
This license agreement allows record labels to enable consumers to make personal copies of music CDs while protecting content with multi-level security features that address practices such as unauthorized file sharing. PC-based playback of CDs and transfer to portable devices is enabled using the Microsoft® Windows Media® Data Session Toolkit, a new component of Windows Media 9 Series that enables media companies to create and deliver Macrovision Announces License Agreement for Distribution of Microsoft Windows Media Toolkit Page 3 high-quality content via a "second session" for playback on the PC and other devices using Windows Media DRM. As media and entertainment companies look for ways to protect their content, the toolkit can be used to preserve a great playback experience on the PC and other devices. Macrovision's CDS technology secures the "first session" data and also authenticates that the CD is in fact an original copy. Once authenticated, second session files can be played, stored or exported to secure portable devices.
"This is a 'win-win' for both labels and consumers," said Macrovision president and CEO William Krepick. "Macrovision strives to create transparent content protection technologies that do not inhibit the legitimate 'digital rights' of consumers. The companies are creating a solution that addresses many of the content protection issues that are necessary for the survival of the music industry."
"The challenge faced by digital content owners is how to effectively protect content from unauthorized re-distribution while also delivering great, value-add consumer experiences," said Dave Fester, general manager of Microsoft's Windows Digital Media Division at Microsoft Corp. "Macrovision technology and the Windows Media Data Session Toolkit represent a significant step in the ability to deliver music fans with rich, seamless access to their music and at the same time respect the needs of content owners."
"Our combined technology gives CD consumers worldwide the secure portability of their music," said Adam Sexton, vice president of marketing of Macrovision's Music Technology Division. "Our solution, incorporating Microsoft's technology, will ensure that the music industry will have access to best-of-breed technologies for first session copy protection, local authentication, Internet authentication, and a second session solution with the Windows Media Data Session Toolkit."
About Macrovision
Macrovision develops and markets digital rights management ("DRM"), copy protection, and electronic license management technologies for the consumer software, enterprise software, home video and music industries. For the past 15 years, Macrovision has been the trusted partner in copy protection and rights management for the entertainment industry. Macrovision has worked in partnership with the leading content companies worldwide to develop and deploy technologies that serve the interests of both rights holders and consumers, delivering solutions which provide an optimum balance between effectiveness and playability. Macrovision's copy protection and rights management technologies have been utilized on over 5 billion CDs, DVDs and VHS cassettes.
Macrovision has its corporate headquarters in Santa Clara, California, with international offices in London, Frankfurt, Tel Aviv, Tokyo, Hong Kong, Taipei and Seoul. For more information about Macrovision Corporation and its products, please visit www.macrovision.com.
Macrovision and CDS are either registered trademarks or trademarks of Macrovision Corporation. Microsoft, Windows Media and Windows are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.
Note: This press release may contain "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995. A number of factors could cause Macrovision's actual results to differ from anticipated results expressed in such forward-looking statements. Such factors are addressed in Macrovision's filings with the Securities and Exchange Commission (available at www.sec.gov). Macrovision assumes no obligation to update any forward-looking statements.
Support dating back to Spring of 1999 has been BROKEN!
Next level of support to be tested, nine cents followed by a nickel.
e.Digital Chart------------->
PPS $2.90
By: DABOSS
30 Oct 2000, 10:12 AM EST Msg. 512899 of 989458
Come on MMs...is that the best you can do
on all this aweful news of the CEO establishing his largest position ever in the stock, and three billion dollar OEMs about ready to release news, and a $4 million equity placement finalized just last month...
I would have thought there were more suckers than that.
Who got the great execution at $2.25 ?
PPS $0.425
By: DABOSS $$$$$
08 Jun 2002, 10:13 AM EDT Msg. 986869 of 988173
(This msg. is a reply to 986861 by isoldat77.)
isoldat77--where have you been ? Trading, as in day trading ? Nope. When you BUY LOW in size and have the patience to let the investment mature, you don't have to day trade and sweat out the short term...just be patient while the investment/company continues to mature and buy when you can...especially near the 52 week lows.
Bought a nice big chunk just yesterday, as a matter of fact.
At $.395 you can own a lot of this for a song...if it drops in the short term, I will add more, because this company continues to move forward in spite of market conditions.
PPS will shift again, be certain of that. While the moron patrol trades amongst themselves for that big penny and a half swing trade, I keep adding. I like this company and its long term possibilities. I understand the risk/reward ratio and see EDIG as a nasdaq listed company down the road.
PPS $0.38
By: DABOSS $$$$$
11 Jun 2002, 03:43 PM EDT Msg. 988161 of 988173
Oh no, down a whopping 3.5 cents-COMPUSA,Circuit City, The Good Guys, DGN, B&O, DivX, Fujitsu must all be frightfully concerned...
Sell LOW is the basher's motto...sorry, added more today.
PPS $0.29
By: DABOSS $$$$$
14 Oct 2002, 01:35 PM EDT Msg. 1059173 of 1059216
let's see, 369K shares at .29 = $107,000--Ooooooooo, time to panic ...yeah, right before management will address what it has projected to be a turn around year...and it announces plans for the Odyssey 1000.
PPS $0.285
By: DABOSS $$$$$
18 Oct 2002, 08:28 PM EDT Msg. 1061839 of 1061847
(This msg. is a reply to 1061828 by idigedig.)
idigedig,
The question today is, does one invest in a PPS or a company ?
Management is continuing to build a company.
PPS is depressed because we are in a bear market. There are more products today than ever before, and new markets and partners beyond what we knew of last year, as well as a management team focused on getting the job done.
If you invest only in PPS, then NOW would seem a logical time to enter...at the LOWS, before news from the SHM.
If you invest in a company, then NOW would be a logical time, as EDIG is in THE QUARTER from which it will generate record revenues and launch its Odyssey 1000 product line, which is not currently reflected in the PPS due to the overriding bear market.
Yahtzee!
http://www.thesmokinggun.com/archive/madonnasplash1.html
Days after Madonna took a sharp swipe at music file-sharers, the singer's web site was hacked Saturday (4/19) by an electronic interloper who posted MP3 files of every song from "American Life," the controversial performer's new album, which will be officially released Tuesday. The site, madonna.com, was taken offline shortly after the attack was detected early Saturday morning and remained shut for nearly 15 hours. Below you'll find a screen grab of the hacked Madonna site's front page, which announced, "This is what the fuck I think I'm doing." That is an apparent response to Madonna's move last week to seed peer-to-peer networks like Kazaa with files that appeared to be cuts from her new album. In fact, the purported songs were digital decoys, with frustrated downloaders discovering only a looped tape of the singer asking, "What the fuck do you think you're doing?" Liz Rosenberg, Madonna's spokesperson, told TSG that the defacement was a hack, not some type of stunt or marketing ploy. According to the replacement page, the madonna.com defacement was supposedly "brought to you by the editors of Phrack," an online hacker magazine whose web site notes that it does not "advocate, condone nor participate in any sort of illicit behavior. But we will sit back and watch." In an e-mail exchange, a Phrack representative told TSG, "We have no link with this guy in any way, and we don't even know his identity." The hacked page also contained a derogatory reference to the Digital Millennium Copyright Act, or DMCA, the federal law aimed at cracking down on digital and online piracy. In addition, the defaced page included an impromptu marriage proposal to Morgan Webb, a comely 24-year-old woman who appears on "The Screen Savers," a daily technology show airing on the cable network Tech TV. (1 page)
August 1st, 1999 through September 31st, 2000:
January 1st, 2002 through present (chart inverted):
August 1st, 1999 through September 31st, 2002:
Fifth lowest dollar volume day over a period of 64 months.
Liquidity crisis growing larger by the day.
Report: Apple in talks to buy Vivendi music for $6 bln (V, AAPL, FR:012777) By Emily Church
PC maker Apple Computer (AAPL) is in talks to buy Vivendi Universal's (V) (FR:012777) Universal Music Group for as much as $6 billion, the Los Angeles Times is reporting on Friday, citing sources. Universal Music Group is the second largest record company in the world. Apple has not made a formal bid but may offer $5 billion to $6 billion ahead of Vivendi's April 29 board meeting, the report said. Shares of Vivendi were up 1.1 percent in Paris. Apple's Chief Executive Steve Jobs is anticipating that music can be profitable on the Internet. The PC maker had been testing a service, the report said.
5:45am 04/11/03
doni, read this:
http://www.intel.com/design/flcomp/applnots/29766505.pdf
Excerpt:
This document provides guidelines for determining the “best fit” file system for use with flash in a particular
implementation. Now that flash technology has matured, is widely available, and has become an industry
standard, more attention is being given to improving the necessary enabling software. The Flash Translation
Layer (FTL) flash driver has emerged as the best flash software solution for removable linear flash card
applications, and is currently being supported by several companies including M-Systems, SCM, Phoenix
Technologies, Annasoft (Annabooks), and SystemSoft. Intel advocates the use of FTL with flash for
applications that need to transfer data back to the PC on the flash media.
However, after discussions with many embedded system developers, Intel realizes that sometimes FTL
solutions may not meet all customers’ needs. This document presents FTL, VFM, FDI, and other software
solutions, and categorizes them for easy understanding. Additionally, a straightforward file system selection
tree is presented as an aid in determining the best implementation for your system.
It is important to understand that each file system has its own strengths and weaknesses, and that there is no
solution that meets every design’s needs. Helping you determine which file system best meets your need is
the goal of this document.
Intel is committed to supporting our customers. If you are interested in flash, want to know about flash, or
want to understand the different file systems that support flash, then contact your nearest Intel
representative.
Figure 1 illustrates the different file system categories for flash support. Each category may have multiple
implementations. For example, in the “Sector-Based” category, we list several implementations, each with a
different set of features.
The columns in Figure 1 represent the three major types of file system implementations for flash. The
Sector-Based category uses small, equally-sized blocks of memory, sometimes called sectors, to emulate a
“drive-like” implementation.
Figure 2 lays out much of the same information as Figure 1, but presents it in a slightly different format.
Figure 2 also provides the status of various software file system products Intel is providing/investigating.
Figure 3 provides a file system/manager selection tree. By starting at the top of the page and answering the
questions, you can determine the “best fit” file system to meet your needs. Some of these file systems are
offered by third-party vendors like M-Systems, SystemSoft, and SCM. The rest of the file systems are
offered to OEM Intel Flash customers by Intel Corporation as reference code.
Do yourself a favor, use one-tenth of whatever value remains in your investment in e.Digital and have the company's patents assessed by a qualified professional. You can thank me later.
Or ask yourself the following simple question: "Why hasn't e.Digital's technological solutions ever been reviewed by a independent technology journal?" I'll tell you why, they aren't worth the paper the review would be printed on.
The obvious difference between e.Digital and the universe of technology stocks also down significantly from their all-time high, aside from those who have given up the ghost, is most of the companies still hold some value while e.Digital is an empty shell operated by crooked management.
Put simply, although down as much as 95% from their highs, many technology companies are debt free, cash rich and have positive shareholder equity. At a current ratio of .30 (current assets divided by current liabilities, $0.30 in liquid assets for every $1.00 in short term liabilities), on the brink of exhausting all of their cash, a stock holders deficit of $1,442,944 and an inability to generate a gross profit, e.Digital is theoretically a worthless business.
What most shareholders and observers haven't come to realize is the Series D convertible preferred issuance, essentially converting the outstanding debt into equity, was a quasi-bankruptcy restructuring. For all intents and purposes, common stock shareholders have been sold out.
I like to look at it this way: e.Digital's market capitalization is twenty million dollars; looking at the current financial condition (quasi-bankrupt) and forward potential (zero if using the past as a gauge for the future)- is twenty million a fair price for the business? No, I'd say the business is worth a maximum of one million dollars with most of the value attributable to the large shareholder base, ie it has value as a shell corporation.
Bearish Descending Triangle.
The ascending triangle failed. As noted, the breakdown of the bullish pattern has evolved into a bearish pattern. If prices breach $0.15 - a target price of $0.11 is established.
http://www.stockcharts.com/education/What/ChartAnalysis/triangle-Descending.html
The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns. Regardless of where they form, descending triangles are bearish patterns that indicate distribution.
Because of its shape, the pattern can also be referred to as a right-angle triangle. Two or more comparable lows form a horizontal line at the bottom. Two or more declining peaks form a descending trendline above that converges with the horizontal line as it descends. If both lines were extended right, the descending trendline could act as the hypotenuse of a right triangle. If a perpendicular line were drawn extending up from the left end of the horizontal line, a right triangle would form. Let's examine each individual part of the pattern and then look at an example.
1. Trend: In order to qualify as a continuation pattern, an established trend should exist. However, because the descending triangle is definitely a bearish pattern, the length and duration of the current trend is not as important. The robustness of the formation is paramount.
2. Lower Horizontal Line: At least 2 reaction lows are required to form the lower horizontal line. The lows do not have to be exact, but should be within reasonable proximity of each other. There should be some distance separating the lows and a reaction high between them.
3. Upper Descending Trendline: At least two reaction highs are required to form the upper descending trendline. These reaction highs should be successively lower and there should be some distance between the highs. If a more recent reaction high is equal to or greater than the previous reaction high, then the descending triangle is not valid.
4. Duration: The length of the pattern can range from a few weeks to many months, with the average pattern lasting from 1-3 months.
5. Volume: As the pattern develops, volume usually contracts. When the downside break occurs, there would ideally be an expansion of volume for confirmation. While volume confirmation is preferred, it is not always necessary.
6. Return to breakout: A basic tenet of technical analysis is that broken support turns into resistance and visa versa. When the horizontal support line of the descending triangle is broken, it turns into resistance. Sometimes there will be a return to this newfound resistance level before the down move begins in earnest.
7. Target: Once the breakout has occurred, the price projection is found by measuring the widest distance of the pattern and subtracting it from the resistance breakout.
In contrast to the symmetrical triangle, a descending triangle has a definite bearish bias before the actual break. The symmetrical triangle is a neutral formation that relies on the impending breakout to dictate the direction of the next move. For the descending triangle, the horizontal line represents demand that prevents the security from declining past a certain level. It is as if a large buy order has been placed at this level and it is taking a number of weeks or months to execute, thus preventing the price from declining further. Even though the price does not decline past this level, the reaction highs continue to decline. It is these lower highs that indicate increased selling pressure and give the descending triangle its bearish bias.
After recording a lower high just below 60 in Dec-99, Nucor formed a descending triangle early in 2000. In late April, the stock broke support with a gap down, sharp break and increase in volume to complete the formation.
* The stock declined from above 60 to the low 40s before finding some support and mounting a reaction rally. The rally stalled just below 50 and a series of lower reaction highs began to form. The long-term trend was down and the resulting pattern was classified as continuation.
* Support at 45 was first established with a bounce in February. After that, the stock touched this level two more times before breaking down. After the second touch in March (about a month later), the lower support line was drawn.
* After each bounce off support, a lower high formed. The reaction highs at points 2,4 and 6 formed the descending trendline to mark the potential descending triangle pattern. I say potential because the pattern is not complete until support is broken.
* The duration of the pattern was a little less than 3 months.
* The last touch of support at 45 occurred in late April. The stock spiked down through support, but managed to close above this key level. The final break occurred a few days later with a gap down, a considerable black candlestick and an expansion in volume. The way support is broken can offer insight into the general weakness of a security. This was not a slight break, but a rather convincing break. Volume jumped to the highest level in many months and money flows broke below -10%.
* After falling from 45 to 41, the stock mounted a feeble reaction rally that only lasted three days and produced two candlesticks with long upper shadows. Sometimes there is a test of the newfound resistance level, and sometimes there isn't. A weak test of support can indicate acute selling pressure.
* The initial decline was projected to be 9 points (54 -45 = 9). If this is subtracted from the support break at 45, the downside projection is to around 36. Even though the stock exceeded this target in late June, recent strength has brought it back near 36. Targets are only meant to be used as guidelines and other aspects of technical analysis should also be employed for deciding when to cover a short or buy.
President Responds to RIAA Suit
For more information on this story contact:
Email: Dean Woodbeck
Phone: 906/487-3327
http://www.admin.mtu.edu/urel/news/media_relations/95/
April 4, 2003
Mr. Cary Sherman
Recording Industry Association of America
1330 Connecticut Avenue, N.W., Suite 300
Washington, DC 20036
Dear Mr. Sherman:
In response to your letter of April 3, 2003, I offer the following comments.
Michigan Technological University has been a partner with the Recording Industry Association of America (RIAA) since the inception of the Soundbyting campaign. We have used your materials, methods and procedures to help educate our students on all aspects of copyright law.
We have programs in place to help educate our students on their responsible use of the Internet and its technologies with respect to intellectual property issues.
Our orientation sessions, freshman hall programs, and acceptable-use policies all cover the copyright issue. We also understand that no matter how much education we provide, people will still break the law.
For this reason, we have procedures in place to deal with situations when we are properly notified through the Digital Millennium Copyright Act (DMCA). We cooperate fully with all DCMA requests by suspending the connection of the offending machine and moving the offender through a disciplinary process in the Office of Student Affairs.
This process includes a one-hour presentation on copyright law with respect to the Internet. Students are then required to clean up their machine and compose a letter to the company filing the DMCA stating that they have attended the presentation and complied.
In your letter dated April 3, 2003, you refer to a letter of October 3, 2002, sent to all university presidents. Your last line in that letter reads
"We stand ready to be of assistance in any way you might find helpful."
Our Information Technology department, upon receiving this letter, contacted your office twice by phone (leaving messages for Jonathon Whitehead) and three times by e-mail in an effort to update our reference materials and procedures with you.
Your organization responded to none of these messages.
I believe that we would not be facing this situation with Joseph Nievelt today had we been able to gain your help in providing additional information to our student body. We have cooperated fully with the RIAA, but in recent months, have not seen the same from your organization.
You have obviously known about this situation with Joe Nievelt for quite some time. Had you followed the previous methods established in notification of a violation, we would have shut off the student and not allowed the problem to grow to the size and scope that it is today. I am very disappointed that the RIAA decided to take this action in this manner. As a fully cooperating site, we would have expected the courtesy of being notified early and allowing us to take action following established procedures, instead of allowing it to get to the point of lawsuits and publicity.
It has been stated by your office that this is "a bump in the road" between the RIAA and Michigan Tech, and that we will move on from here. It is unfortunate that you choose to trivialize the problem in this manner. It is not a bump in the road for Joe Nievelt or Michigan Technological University.
Taking all of this into consideration, we realize the seriousness of the allegations against Mr. Nievelt and will cooperate fully in resolving this matter.
Sincerely,
Curtis J. Tompkins
President
Legal Issues Don't Hinder American Downloaders
An Estimated 40 million Americans Downloaded Music In The Past 30 Days
Quarterly Digital Music Study, TEMPO: Keeping Pace With Digital Music Behavior, Reveals Downloaders Believe Their Actions Don’t Hurt Artists
Public Release Date: March 14, 2003
http://www.ipsos-pa.com/dsp_displaypr_us.cfm?id_to_view=1763
New York, NY — Downloaders believe their actions are not hurting artists, according to Ipsos, the global marketing research firm. Despite recent efforts to educate the public on the need to respect copyrights and intellectual property in the era of peer-to-peer (P2P) file-sharing, only one-in-five downloaders age 12 and older agree that free downloading and peer to peer file-trading hurts artists.
Past 30-day Downloading Grows, With Those Under 25 Driving Adoption
New findings from TEMPO, the company’s quarterly study of digital music behaviors, show that nearly one-fifth (18%) of the American population aged 12 and over report having downloaded a music or MP3 file in the past 30 days. This translates into nearly 40 million people within the current U.S. population (according to 2000 U.S. Census figures).
This measure is slightly greater than earlier findings from TEMPO (April 2002), and suggest that American music enthusiasts are continuing to embrace the Internet as a convenient channel for music acquisition.
This is especially true among Americans under the age of 25, with nearly half (48%) of 12-to-17 year olds and 42% of 18-to-24 year olds reporting they have downloaded music or MP3 files in the past month. These measures mark a gradual increase from April 2002, when 44% of 12-17 year olds and 36% of 18-to-24 year olds had taken part in this activity in the past 30 days.
“Past month activity is often an indication of repetitive behavior, and thus this particular measure provides an idea of the proportion of the U.S. population that is regularly downloading music or MP3 files off of the Internet,” said Matt Kleinschmit, a Director with Ipsos and the TEMPO research program. “This downloading could include anything from sampling music clips from artist-endorsed websites to peer-to-peer file-sharing, and provides further evidence that many Americans’ are consistently using the Internet as a method for listening to and obtaining music.”
U.S. Downloaders Do So To Sample Music, And Believe Their Activities Are Benign
The recent TEMPO research also reveals that nearly three-quarters (73%) of U.S. downloaders report their motivation for doing so is to sample music before making a purchase. Further, U.S. downloaders believe their actions to be okay, with few agreeing that downloading free music off of the Internet is wrong (9%), and only one-in-five (21%) agreeing that free downloading and peer-to-peer file-sharing hurts artists.
Only 16% believe that record labels are justified in shutting down file-sharing services, such as Napster and Audio Galaxy, and two-fifths (39%) agree that making copies of music to give to friends is okay.
“With recent efforts underway to redefine the role of copyright and fair-use in the digital age, this data clearly shows that current U.S. downloaders are interpreting both the motivations and legality of their actions on their own terms,” continued Kleinschmit. “This suggests that copyright enforcement efforts are unfortunately being misinterpreted by these consumers, and additional education and awareness on the importance of intellectual property rights in this new era of content distribution may be necessary.”
Methodology
Data on music downloading behaviors was gathered from TEMPO: Keeping Pace with Digital Music Behavior,, a quarterly shared-cost research study by Ipsos examining the ongoing influence and effects of digital music around the world.
Data for this release were collected between December 12 and 16th, 2002, via a nationally representative U.S. sample of 1,112 respondents aged 12 and over. With a total sample size of 1,112, one can say with 95% certainty that the results are accurate to within +/-2.94%. In addition, data on the motivations for downloading were collected between December 17 and 31st, 2002, via a representative U.S. sample of 740 downloaders aged 12 and over. With a total sample size of 740 one can say with 95% certainty that the results are accurate to within +/-3.60
In addition, past contextual data was pulled from TEMPO data collected between April 25 and May 1, 2002, via a similar nationally representative sample.
Minor technical development. Ascending triangle threatening breakout. Successful breach of $0.17 clears the way for a move to the 50 dma, $0.19.
A breach of the lower, positive-sloping trendline negates the breakout and clears the way toward a retest of $0.15 and a bearish descending triangle.
Post # 1,000,000 WAG!
But Anyway---------April 28, 2003 1:35 P.M.
shao --------------May 1, 2003 5:01:00 P.M.
The Original dpb5! May 4, 2003 10:15:22 A.M.
Ruellit------------May 5, 2003 07:12:35 A.M.
Cut and paste the above WAG and add your guess as to exactly when IHUB will hit 1,000,000 posts!
Changes?
Bryan Jones is no longer listed on the Key Personnel page.
http://www.edig.com/company/management.html
e.Digital's Broadband Entertainment Business Unit is unofficially sacked and the 125,000 shares issued to Jones/Chadwick for Wedigmusic.com clearly wasted.
You read that correctly, e.Digital management issued 125,000 shares at $0.40 for share, $50,000 in stock, for this: http://www.wedigmusic.com/ . And paid Jones as a VP for at least six months. Exactly what Jones did during his six month tenure at e.Digital remains a mystery.
Can you list three companies that were originally listed on the OTC-BB that went on to grow in size, return value to shareholders, and eventually trade on a major exchange?
I know of one - Able Laboratories.
It's really an unbelievable turnaround story. June 3rd, 2002, the company reverse-split the shares 1-for-15, November 19th, 2002, moved to the Nasdaq Small Cap market and February 26th, 2003 moved to the Nasdaq National Market. Over the same period, they grew revenues 170% and turned a $1.62 per share loss to earnings per share of $1.42.
That's the only example I can think of however I can think of hundreds of examples of OTC-BB scams, frauds and criminal endeavors.
This is my favorite:
5. CERTIFICATE OF DEPOSIT
The Company is required to segregate and maintain a certificate of deposit as security for corporate credit cards. As at March 31, 2002, the balance in this restricted certificate of deposit is $58,696 [2001 — $55,224], bearing interest at 1.97% [2001 — 5.25%]and maturing on February 22, 2003.
Visa and Mastercard refuse to extend unsecured credit to e.Digital but shareholders will continue to keep their savings locked into this pump and dump software scam.
What does e.Digital's credit card provider know that shareholders do not?
SEC: Ex-Rocky Mountain Energy CEO Manipulated Co Stock
Thursday, April 3, 2003 07:04 PM ET
Dow Jones Newswires
WASHINGTON -- The Securities and Exchange Commission said it obtained an emergency court order Thursday against the former chief executive of Rocky Mountain Energy Corp. (RMEC, news) for allegedly manipulating the company's stock.
A U.S. District Judge in Houston issued a temporary restraining order against the company, John Ehrman and the company's general counsel W. Roderick Johnson, ordering them to halt the alleged stock scam. The judge also froze the company's and Mr. Ehrman's assets.
Rocky Mountain Energy announced Wednesday that it replaced John Ehrman as its chief executive with Michel Clerin who isn't named in the complaint.
According to the SEC, Mr. Ehrman issued "a stream of glowing but false and misleading press releases to artificially inflate the price and trading volume of the company's stock."
The press releases allegedly said the company had made several acquisitions of valuable oil-and-gas properties. Another statement, issued on March 31, claimed that the company acquired assets that had the ability and experience in putting out oil well fires and was "in current negotiations to send oil well fire fighters to the Gulf Region," the SEC said.
However, the agency contends that Rocky Mountain didn't have the assets nor the financing to complete any of the reported acquisitions.
Mr. Ehrman was previously sued by the SEC in the early 1990s over an alleged fraudulent oil-and-gas scheme. He was permanently barred from certain segments of the securities industry, the SEC said.
Spencer Barasch, an associate administrator in the SEC's Fort Worth office, said "it's particularly troublesome that Ehrman didn't get the message the first time the SEC sued him, but we intend to ensure he gets the message this time."
In addition to the asset freeze, the SEC said it will seek an order to have Messrs. Ehrman and Johnson give up any ill-gotten gains plus fines and an order barring Mr. Ehrman from acting as an officer of a public company. Mr. Barasch also said the SEC is seeking an order to permanently prohibit both men from trading in penny stocks.
In the SEC complaint, the agency alleges that Messrs. Ehrman and Johnson controlled 50% of Rocky Mountain Energy shares, and dumped more than $800,000 worth of the company's stock into the market since July 2002 at artificially inflated prices.
In carrying out the fraud Messrs. Ehrman and Johnson filed false corporate reports and registration statements with the SEC, the agency said. Among other things, the filings misrepresented Messrs. Ehrman and Johnson's ownership and sale of about 31 million company shares, the SEC alleged.
Mr. Barasch said the SEC hoped the asset freeze would result in the recovery of the $800,000. But he couldn't provide a dollar amount at this time, explaining that the agency is now in the process of notifying banks about the asset freeze.
Mr. Ehrman's attorney wasn't immediately available to comment and Mr. Johnson doesn't yet have legal representation.
A message left for Mr. Johnson wasn't immediately returned and calls to the company went unanswered.
Mr. Barasch said that the SEC wouldn't halt trading in the company's stock, but would notify market makers of the litigation.
-By Phil McCarty, Dow Jones Newswires; 202-862-9251; Phil.McCarty@dowjones.com
Dow Jones Newswires
04-03-03 1904ET
Cassandra, the message in question was in response to your private message. I'm not going to apologize for a good guess; assuming my guess is correct.
last month you said bankruptcy.
Incorrect, you are mistaking me for someone else.
The company said exactly the opposite.
"The company said". The company doesn't speak, management does and they lie. They are disgusting liars.
Now you're on a quasi-bankruptcy rant because of a financing arrangement?
The outstanding debt was swapped for equity (senior convertible instruments, with a dividend rider), typical of quasi-bankruptcy filings. There will be no bankruptcy simply because the company is absent of assets carrying any material value.
You should have stopped when you said "guess", because that's all you're doing.
Point me to one individual on this thread not speculating. I have the courage to publicly share my expectations. You don't.
As for your 'technical' analysis - calling this "...increasing volume..." and "...hammering...", is a far cry from reality.
Oh, okay.
For all we know, it could just be you selling.
Who is "we"?
With all due respect Cassandra, you're taking this all too seriously. Further, regarding the issue in question - I have no way of knowing whether I am correct or not. It was a shot in the dark, perhaps a good one.
The obvious guess is a new shelf-filing, presumably below the previous offering which was at $0.19, which will lower the conversion price of the outstanding Series D preferred, increasing the dilutive consequence of this quasi-bankruptcy financing arrangement.
I think new lows are imminent because shares have spent the past three days hammering on fifteen cents and volume is increasing at the lows, which is bearish.
The congestion area from early 1999 is all the support that is left between current prices and prices in the single digits.
Two cent spread on a fifteen cent stock. All longs are trapped. New lows are imminent. I sense a negative development made public in the immediate future.
CPC Trigger.
Still issuing a buy signal. Watch for potential signal change over the next 5-10 trading days.
By: Tinroad
25 Mar 2001, 11:44 AM EST Msg. 647351 of 1119481
(This msg. is a reply to 563391 by RamTeacher.)
RamTeacher, as a believer in the long term potential of eDigital, I really don't care what the immediate short term stock price is or will be. This is a young, highly talented group of world class engineers, led by some of the most competent people in the industry. Sure, things haven't happened on the timetable we would like to have seen, and most likely never will. Just buy all you can afford and don't listen to those that would have you take a wait and see attitude. eDigital's stock price will respond to upcoming PR's. That's a given. However, I look foward to the time when it's share price begins to reflect the investor confidence that will come only from the revenues and profits which will begin later this year and will continue for many years to come. eDigital is the real deal.