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So looking at yearly financials, in 2012 there was $366k in exploration expenses (uh, what was done again?), $138k in management fees, 200k in accrued liabilities, 56k loan, 300k in management fees all going Scott/ companies controlled by Scott. I know some of these are duplicates most likely, but, why does he care if this comes through? This is a cash cow either way.
Those "management fees" announced a few years ago are not being paid for by some third party they are being paid for via stock sales, accrued liabilities and exclusivity payments.
Well, there's one guy interested, without him I think we would have hit .014s possibly lower.
SRSR should be .20 as well.
Damn, wish I had the foresight to buy a few GLD puts over weekend (instead of buying more GLD in 401k). Some puts up 10,000 percent this morning.
Blah, I pretty much hate the stock market.
Just for reference, MCP and REE are at all time lows today.
Thanks, hadn't put that together before.
Dollar for dollar $37 million for 51% means if the current OS is 850 million shares, SOE would get (850/.49) 885 million new shares (or the equivalent in value). So for 37 million they get 885 million shares, 37/885 = .041 per share. So that would put the the absolute min price SRSR would be after a closed deal at .041 cents. Market cap would be 71 million (if SOE actually received the equivalent shares).
I know they would be getting nio star shares and we would get nio dividend shares and still have shinning-tree. That would put absolute min price at .05 with no multiples given to the fact SOE has big bank account.
Now if that deal had actually closed IMO we'd be looking at .10 to .15/share right now instead of good old 02s again....
I'm not talking about dilution here just trying to demonstrate simple math skills to get the actual price SOE was considering to pay for 51%.
I think the fact the exclusivity period expired speaks for itself. I guarantee if the SOE was willing to put up any money it would have been extended. Why waste another year dealing with a new entity if they could hold on for another 30 days to close with current partner. Lets face it, minimum 8 months before anything closes with an alternate partner (more likely 1 year). From the outside this looks horrible, we know better, but I don't see any new investors coming onboard even with a new "LOI".
Correct, but why am I feeling Deja vu here, it sounds awfully familiar. If the next one is 50 million, its a step up, but expect another year before completion. In the mean time shareholders will get bored again and well have plenty of buying opps.
Personally, next time I'd rather just have a single pr stating "Deal closed, JV, whatever, for x amount of $ ( with same or better terms then HKHE deal, that was agreed upon by shareholders) Shinning tree divi will be on x".
Here's my take, a month or so ago, that job posting was pulled, when called "boss no coming". Merle prosed a few days ago that Canadian regulations were cause for delay (possibly cause for plans to cease of course this is second hand). To me it seemed odd that SOE would JV it but then hire all Chinese to work there (per the job posting 20 workers). Why not front the money hire local Canadian workers with Chinese management. Getting 20 workers and management over for years required Canadian citizenship it seemed like. The $ requirements for foreign investment to gain citizenship were a bit absurd.
To me what is also odd about this is the SOE already has a Canadian coal mine, why would they not already know theses regulations? Sorry for limited details, this is just from reading every post for past 6ms on the deal and checking all links.
IMO
Someone might get their 1 million bid filled at .025 if a panic starts. Asks pulling up at .03 (not big asks). PINKs...
I really don't understand how some shareholders stick around for years at apparently a big loss? If they are that much down wouldn't you sell at any peak (like at .07 , .06 & .04). By now you could be up a few 100% by re-buying at .02x and repeating process. It seems most of us have too much faith and simply hold to the dismay of our own accounts.
850 million shares out there, 700k in trades. Scott must be printing out 10s of millions for that volume. Even with no DD that doesn't make sense.
It's just a result of no news and low confidence in deal closing. Risk at this point is another penny if no deal / no extension. Reward if deal closes is 5 to 20 pennies short term. Good risk/reward at this point maybe you get another .004 off by waiting around a few days, maybe you have to pay .03 more to get in tomorrow, you never know.
Someone will be kicking oneself for selling under .03 today. IMO
I'd say 80% chance we get news by March 1 (good or bad). 40% chance the deal closes by March 1 (based on no buying). 25% chance there is another extension announced.
Deal closes we are at .06-.07 within a few hours and if it gets past there, who knows how high initial excitement goes .20? If deal doesn't close and no extension, back to low .02s/ high .01s immediately. If extension and it is relatively short, then might dip to high .02s at worst. If 3-4 months, back to low .02s.
Not a sure thing short term but better then most odds of gaining 500% on an investment in a few weeks. You'd think some speculators would pop in here soon, especially with golden cross signal on the horizon (this week?).
Please bring back the short vs non short discussion, I miss it :). What is the motivation of repeating the same thing over and over and over again, is it to save all of us from ourselves? Or are there ulterior motives? Makes me think there is more to the short theory (even though I have a hard time believing it).
I trust management will do right by us shareholders (if given the opportunity). At some point things will work out.
IMO
The reason it is at .02 to .03 is because .020 is the price the last 150+ million shares have gone for in private placements/flow thrus. That's simple to understand. Those with the funds to buy millions of shares protect the .02 level. Those who flip have made 50-250% ROI over past 2 years. If shares were sold closer to market maybe the bottom would be higher (of course they may not get anyone to buy at higher price).
If Scott sells 10 million shares next week at .05, I garuntee share price is at .05 or higher the same day. If someone tried to buy 10 million shares on open market we'd be at .10+.
Imagine if the last private placement of 22 million shares was bought instead on the open market...
L2 showing 110k to .0400
Of course MMs have been hiding their asks lately so there could be another million that us retail investors can't see.
Love that although you're not supposed to be able to hide your ask size, ask sizes are still hidden on pinks. For instance 100k+ bought at ask can't take out a 10k ask.
Biggest bid I have ever seen on SRSR, 4 million @.0385 for a few seconds there.
Someone putting the breaks on offering 1.14m at .0359.
I was pretty close, .039.
Don't let someone paint this down on last trade. Need some bids, huge spread.
If mr million hit ask it probably would have hit .04. With avg at .036 or so that would be $8k more then .0285. It think hitting ask is good for only those who are late to the party or already have a ton of shares. In the past those big bids are sold into more often then not (80% of the time).
Btw I bought 150k at ask (.029 & .0299). Wanted more, feel a move up is immanent and already have a good amount.
1 million bid @ .0285 is hidden since another ATDF bidder has a higher bid (assuming it is still there). 1 mill bids almost always get filled, but historically signify a move up. There was another a week or so ago. Been watching L2 since 2009.
1 mill on bid. One of those .020 avg guys have a chance to make $8.5 k. I'm holding and buying more, although wish I bought more before today now...
1.2 million on ask at .0291, have not seen that for awhile. Maybe someone with UBSS needs some $.
Good news is I have some $ moving to broker to buy some under .03 now.
It seems like common sense to test the same samples, just in case there is some anomaly. Scott wouldn't want to be caught off guard by the results from China (positive or negative). By releasing that info, he is letting share holders know there should be no surprises. It will also allow for Scott to prepare for additional questions that will inevitably come up prior to closing the deal.
From the financial statements, SRSR accumulates debts owed to CEO (Scott) via his yearly salary, management fees and work done by "companies owned by CEO". Scott pays himself when money comes in, with HKHE he got a large chunk of the 500k that came in (as in he was owed very little on the next financial statement).
I don't know if this is a full time gig or not for Scott, but he makes a pretty good living off SRSR.
Based on execution times on L2 that was only a couple sellers (apparently with a lot to sell). You'd think .0200 will be base again for awhile since a few hundred million private placements at .0200.
I've said this before, but there is really no reason to ever buy this above .02 ( I've broken my own enough that my avg is .03+)
Wow thought it would take all week to get below that bid at .023. I guess it is assumed now the deal won't get done. We'll be getting those .014s again I guess. If it doesn't close this thing will be sub .01.
In reply to my own post, so now we are down 50% and the rest of the world is getting the PR, do you think any new investors would be interested now? Seriously who in their right mind (as a new investor) would even look at SRSR after a -50% day. Maybe someone who thinks it cold bounce, but other then that, who? If this went out on the correct news wire at 11:30 there would have been at least some initial buying. I think the lack of buying after the PR was the cause of the drop (along with the typical small amount of bid support). So now yet again we have 10s of millions of shares in hands of flippers/investors who are under water.
BTW, based on what "SOE" would be paying, the shareprice should be .0375 (32mill/850mill).
Anyone else notice the only place you can find this news is on Investorshub? Add to that a 11:30 PR on a Friday, I think Merle and Scott knew what was coming. I guess they are saving a $200 by sending it via "OTCDS News" versus "Marketwire" (they had been using marketwire since 2007).
It conceivable that no one outside of iHubers have even seen the news. I'm guessing that anyone who has any shares has been able to find it when they spotted their shares down 50%, but other then that no-one gets the OTCDS news feed..... as I post this I am now seeing it on marketwire, WTF????????
Time for bounce, lots of shares bought at .026.
Spread is the size of share price a few months ago.
Crazy.
Does anyone else remember August 2011 to July 2012? Low volume from .075 to .014. I keep hearing that it doesnt matter, it did matter if someone bought at anything above .02.
No bid support all the way down to .026, man do i love being long here.
Totally agree, given the number of missed dates, failures, last springs "I know how you feel" PR, I had assumed that Scott would never again put out a date he could not meet. Yet he did it again. Luckily there is a lot of faith among shareholders. Not sure why I expected anything different, in hindsight should have flipped some shares (two years in a row now). We need news within the next two weeks or we are at .02 again. I don't need the "yay, I can buy more cheapies, yay" comments and yes that is a Crank Yankers Special Ed "yay".
Well, here we are again. Either we are all fools for trusting Scott for the 4th time, or the the 4th time is the charm... I guess we'll see someday relatively soon or we'll be back at .01s in a couple months. Have no idea why he would put a date to anything given SRSR has missed every date in every PR ever produced.
Well I guess now we know why there was not much of a bid at .015 a few months back, if you want a lot of shares just buy direct. Wouldn't it have been spectacular to see 10 million on bid at .015? Another 22 million shares at .03 (Warrants) looking good too. Based on Market price now, private placement shareholder up $738,375 (on paper) with much more to come over next couple of years. Man I wish my 401k would let me invest in something other then mutual fund garbage... I'd buy 5 million in a heart beat.
I do wish these placements somewhat followed market price though, been selling at .02 for 4 years, at least it wasn't .015.
This actually takes up almost half of the 100million shares that were added to the A/S last year if you include the warrants.
The only way to combat that is to have a higher bid. Of course high bids are typically sold into if too close to ask. If this were some other exchange or had a higher volume of trades most likely the bid/ask range would be closer, so a $100 trade doesn't move the stock $5million in market cap. BTW, I would rather have a .005 range now at .057 then a .005 range at .02.