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No, I am the original JimC1997. I haven't posted here since February, although I still hold my position in EDIG and follow developments closely.
I don't know who is using JimC2003 but they are certainly entitled to use that screen name as long as they don't try to claim to be me.
My condolences to the family of Mr. Culberson (Jack Vance).
I always enjoyed his posts.
JimC
Matt, what you have accomplished on this board is remarkable. You build a very nice site with features that combined the best of Silicon Investor (such as private mailboxes) and Raging Bull plus a few great new ideas (like chat rooms).
You gathered moderators who really cared about the discussion groups that they monitored, gave them authority to keep the conversation on topic and encouraged a friendly atmosphere.
This site had clearly overtaken Raging Bull as the predominate location for serious discussion of e.Digital and the best proof of that was that the membership here (free from interference by the psychotic bashers who have fouled Raging Bull) was finally beginning to enjoy really open discussion. The discussion and serious criticism of the company's management and business model here by true longs was far more open than it ever could be on Raging Bull, simply because the posters could respect each other's opinions far more since they emanated from fellow investors who had risked real capital on this venture. We all know each other here and while the levels of knowledge and rationality might vary, the goal of all was the same - to assess the risks and potential of this investment and to (hopefully) watch it rise in value over time. Some might have felt bitter or betrayed that the company has not yet met our lofty collective expectations, but all who posted here still obviously believed that the potential return justified the obvious risk.
The rationale for denying posting rights to pure bashers is inescapable:
Why would any serious investor bother to have any conversation with some painfully sick individual who had posted 10,000 times on a stock which they did not own? No explanation for their psychotic behavior can possibly justify it or induce a sane individual to waste time in "serious" conversation with such persons.
As I said, you built a great site here. But you failed to understand a simple fact about investors. We cannot be forced to welcome into our midst those whose sole rai·sons d'être is the destruction of our capital.
The EDIG board was by far your most popular single stock message board and consequently an element of great value to your enterprise here.
Unfortunately, your recent actions have likely destroyed that asset.
Goodbye.
JimC1997
Three basher-free alternatives to iHub and Raging Bull:
Agora (moderated by TWOMIL):
http://www.agoracom.com/nonmemforum/main.asp?topic=e%2EDigital&tr=
Yahoo EDIG Conversation (moderated by MaryinRed):
http://groups.yahoo.com/group/EDIGConversation/?yguid=134532883
Silicon Investor EDIG board:
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=18537585
talons, I am here, just satisfied to hold my position, watching and waiting for some bright OEM to pick up the Odyssey 1000 and remarket it under their own name.
I haven't posted much recently simply because there hasn't really been much to talk about.
I agree that EDIG management would be smart to buy some shares at these bargain prices.
cksla, since I could not find any additional information to verify any of the details about Natvan I thought it best to simply report the comment about the airline and media contracts which APS is said to have established.
As I noted, the report was a repost of some e-mail stock hype on a pink sheet stock, so I did not want to post the link lest it give the impression that I endorsed that pink sheet stock.
I assume that others will now spend some time looking into all of the possible leads from that link. Perhaps some useful information will come from all of this.
That's it, Tinroad. However, I tried to do more research on the acquisition item and have not yet been able to uncover any more information on it.
cksla, here's a hint. The site where I saw the mention indicated that APS had agreed to be acquired by some company called NatVan (that I have been unable to find much about.)
The site was just a repost of some e-mail stock hype on a pink sheet stock, so I did not want to post the link.
But I am sure that you can find it.
P.S. On rereading the material on that site I also saw that Spirit Airlines was included in the group that are said to have signed agreements with APS. (I note that Sentinel mentioned Spirit as well.)
Regarding the BBX exchange, here is a site where you can get the facts (as opposed to the nonsense spread by the Raging Bull basher idiots) on this new trading forum:
http://www.wallstreetnewscast.com/bbx /
If you read through the materials on that site you will discover that the BBX will not begin to operate until the second half of 2003. Further, it appears that e.Digital already complies will all of the listing standards for that new exchange.
From the site,
''BBX listing requirements have been created to provide an opportunity for the largest number of current OTCBB issuers to continue trading in the new listed environment, while at the same time offering a full complement of qualitative standards to provide enhanced protection to investors. Under these listing requirements, companies must meet qualitative standards, but not do not have to meet financial or minimum share price standards. For a detailed list of the proposed BBX listing qualifications, click on the link below.
http://www.bbxchange.com/Listing_Information/reqs.stm ''
Here is a page of Q&A s on the BBX Exchange:
http://www.bbxchange.com/FAQS /
Also, any stocks which do not meet the BBX qualification rules (for whatever reason) will continue to trade on the OTC for an additional six months, after which they may be moved to the pink sheets.
JimC
Based upon the comment (made by Jim Collier, I believe) at either a webcast or a shareholder's meeting about downloading files to your car's music system while the car was parked in your driveway, I'd have to believe that the wireless application will involve automotive telematics.
However, the company has been dropping the term "set top boxes" in its press releases for years without ever showing a prototype of the device, so that is another real possibility.
At least we know that we actually have a signed OEM this time, not just discussions with one!
I'm seven - never bothered downloading anything either.
I'd rather shop for my CDs in person at a record store.
Judodog, great find! Maybe I should now write a post on RB in which I state that there is a rumor going around that Microsoft is about to display an EDIG music player on the WindowsXP website.
That will insure that they do just what you speculate!
Look for an official summary of the webcast to be issued by e.Digital tomorrow. That has been their practice heretofore.
For those who have been looking for cksla, check out his New EDIG board:
http://www.investorshub.com/boards/board.asp?board_id=963
Right, richardosborne - not quite following his charts, is it?
Gee, day 3 of the "massive dumping after CES" period has ended and the stock closed up again at .195 on only 344,000 shares traded.
As noted, the bashers sure called this one right. They were also all screaming about the "big CES run" weren't they? Funny, neither I nor most other long-term investors here ever claimed that run would happen. In fact several of us stated just the opposite.
So just who on RB is actually doing the "hyping"?
Hint: the same ones doing the bashing. What does that tell you about who is day-trading?
And for the record, despite RB basher claims to the contrary I have not stated any personal expectations about any news from tomorrow's EDIG webcast.
I merely quoted sunpoop's comment from Agora,
"I personally feel there will some tidbits of news we don't know yet, perhaps an OEM sighting ''off the starboard bow''...There was one hellova lot of activity in that regard while we were at the booth....."
which was made in reflection of his conversation with Fred Falk at the EDIG CES booth.
Do I feel that there is more upside potential here than downside risk? Yes, of course I do - but that has very little to do with my degree of expectation of any near-term announcements.
I believe that Fred will have some comforting things to say at tomorrow's webcast. Will we get the OEM news tomorrow that all have been waiting for? I certainly don't know, but I suspect that the stock would be moving more rapidly upward if that were the case.
Meanwhile I am happy with all of my recent purchases and have substantial additional buy orders in place.
Ask your tax preparer, but my guess is that he/she will tell you that if the primary use of the device is for your business, then it is a business asset and can be depreciated like other business equipment.
For relatively low-cost equipment (like office staplers for example) you can generally expense the purchase, rather than depreciate it over some assumed life. The Odyssey 1000 may fall into that low-cost equipment category.
Actually the value of the shares issued to Higham, McConnell was $277,000 not $276,000. But the share total you posted was correct - 1,100,000 shares at an average value of $0.252/share.
I agree that the amount for legal services seems quite high.
Perhaps the law firm played a significant role in the debt for equity exchange agreement.
I hope that Fred will address this matter (high legal fees) at the webcast on Thursday.
Nice! And thanks for spotting the PC World item first, Tenderloin. I meant to give you credit when I reposted it on Agora and SI.
I am expecting good news, of course. Notice that the bid and ask have both moved up? Obviously others are also expecting good news in the next few weeks.
I didn't expect any significant price movement around the CES this year. The fact that liquidity in the stock was so low over the past couple of weeks tells me that few day-traders were getting involved here.
That is the primary reason that I was not putting in market orders over the past couple of weeks.
That also suggests that we can expect the price to remain fairly solid in this range until more news is released over the next few weeks.
Right, and I have been happy to pick up a lot of shares today from those who might have been selling because their "CES run" expectations were not met.
Sentinel, yes - Businesswire does require a FAX from companies before they will release news. It is done that way to minimize the risk of a fake press release.
The downside is the possibility of a typo (especially in finacial releases) caused by the retyping process at Businesswire (and its counterpart, PR Newswire).
We used to use both services at my former company.
Right emit. I am only posting the details here to let others know what is going on in the bid/ask reports on this stock.
I did buy at .20 several weeks ago. These are additional purchases.
It has been my experience that the best way to buy any stock is to do so patiently.
Not much stock for sale today. I picked up a block of 35,000 shares at .23 today but that was it.
Despite my other large .23 buy orders the reported "best" bid fell to .22 and no more shares were sold to me at .23 for the next 30 minutes. Then I changed all of my buy orders to .22/share to see if that would have any effect.
However, none of those orders executed.
Something very odd is going on here.
Another strange day of bid and ask prices by the market makers.
Once again I had open orders in to buy at .22 and .23 all day for a total of several hundred thousand shares, yet the fills on those orders were just a little over 50,000 shares.
Again the market makers played their little game of posting a trade at .225 then immediately filling my order at .23
Obviously I would much rather pay .225 than .23, but unfortunately my brokers all require that order prices be placed at full cent increments. That should not stop the broker from filling the order at less than bid price, however, since the understanding of a limit order is "not to exceed" on buys and "not less than" on sells.
This practice resulted in either the seller getting less than he/she should have or me paying more than I should have on those trades.
Also, this nonsense, besides costing me the $0.005/share difference, results in a double counting of the trading volume for those transactions.
And despite the presence of open orders at .23 the bid was reported as .225 much of the day. That makes you question just how accurate the bid and ask quotations are on a regular basis since they are said to be the "best" bid and "best" ask available.
Very typical of the kind of improper actions that market makers in OTC stocks are accustomed to getting away with! Let's hope that the new BBX, which EDIG will move to later this year, will help to curb these games.
Wow, that is a great deal. Maybe I'll open an account there as well. Thanks for the tip.
redwing99, I have used various on-line brokers and all have much better rates than the ones you quoted. It is easy to transfer shares from one broker to another, although it puts your account in a frozen state for about a week.
Some have limits on the size of the orders you can place (in numbers of shares) before they switch to a commission rate which is x cents per share. Others have flat rates regardless of the number of shares you buy. Still others charge a percentage of the value of the trade.
Thanks notechie. I saw your post on RB. I'm surprised that iHub has a three post limit for you. You have been around a long time.
Thanks, notechie! My accounts won't allow fractional penney pricing on orders.
notechie, thanks. Does your broker allow you to specify fractional cent pricing (i.e. .235 rather than .24)?
Well, I did pick up about 80,000 shares today and only paid one commission since all of the fills were applied against one 100,000 share order. Separate 5,000 share market orders would have cost me about $300 more and perhaps have been filled at a higher price.
But you are right, if you aren't getting filled at all, it doesn't make sense to just be frustrated over that fact, so market orders might make sense in that case.
Thanks for the advice. I would have to put an awful lot of 5,000 share orders in to get filled in the quantities that I have been seeking, however.
Maybe I'll try a few of that size tomorrow.
notechie, did you use a market order or a limit order?
My orders were limit orders at .23
If you had a market order, then the MM would fill yours first (at the ask, usually).
philozarton, I don't know which MM my brokers use. I have several accounts that hold EDIG shares.
Really unethical manuevers by the market makers today.
Since 14:01 when I was sold 5,000 shares I have been sold only 255 shares (in two trades!) at .23
Yet the stock traded at .225 many times after 14:01 and I was not filled on other large standing orders (at .23).
And then the bid dropped back down to .225 despite those orders at .23
Really strange.
Thanks emit. I suppose that the new OTC exchange will help to end some of the worst MM abuse of the rules.
Duke of Prunes, I know that the market makers have to genrate a profit on their activities. However, it seems odd to have so many trades be reported twice (once at .225 and then seconds later at .23)
MMs make plenty on the spread between bid and ask on the many stocks that they deal in. They don't need to fool around with this kind of double reporting of trades.