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well, if im pumping for them, im not very good at it.
i just heard some info from a source close to pgi's management. my birdie didn't give me details, but just said some good news is coming before christmas.
so far my bird is 2 for 2, so we'll see.
we'll see.
we got some nice news coming before christmas.
you can't say its not possible. look at goldman, they were shorting the same investments their brokers were promoting to the public.
rooney is a thief. he's a professional at making money issuing public stock, shorting or selling on bogus news, buying options, obtaining financing, etc.
the sec finally got the guy and hopefully he is never allowed to run another public company again.
the sec will push him out. he will never run another public company again. its inevitable, so he might as well just voluntarily step down for the better of the company.
that is not to say he won;t still play a role in positron, he's a major player, so he can;t just be discarded. if he's smart, he will step down as ceo in the companies best interest.
pat needs to be fired, so positron can stay clear of this mess and have someone at the helm who people trust and has real corp management skills.
wrong...rooney needs to voluntarily step down in the best interest of the company. his shady dealings and get'er done at all costs attitude needs to take a hike and be replaced with someone investors trust to take this thing to the top.
rooney's not going anywhere. he owns more stock than anyone, but he needs to disappear.
but youre missing the point jj. if pat lied to those investors, then you know damnn well he's a LIAR!
he's been lying to us since the bio med reports and the .30 cent p&d episode.
he's a thief and the sec just figured out an alternate way of getting him.
i would not doubt for one second that the guy has been shorting posc all the way down via his hedge fund or some other connection.
best thing for positron is to get rid of rooney! he can still keep his investment within positron, but someone else needs to be running the company.
rooney is out!! good riddance!
anyone else's tos/tda L2 not working? i see nothing.
The Securities and Exchange Commission has filed a civil injunctive action against Patrick G Rooney, a resident of Oakbrook, Illinois, and his company, Solaris Management, LLC, the investment adviser to the Solaris Opportunity Fund, LP, for the fraudulent misuse of the fund’s assets and other illegal conduct.
According to the SEC’s complaint, the Solaris Fund is purportedly a non-directional hedge fund with approximately 30 investors and reported assets of USD16,277,780 as of December 2008. Contrary to the Solaris Fund’s offering documents and marketing materials, Rooney and Solaris Management allegedly made a radical change in the Solaris Fund’s investment strategy by becoming wholly invested in Positron Corp. (“Positron”), a financially troubled microcap company of which Rooney has been Chairman since 2004. Rooney, who has received compensation from Positron since September 2005, allegedly misused the Solaris Fund’s money by investing over USD3.6 million in Positron through both private transactions and market purchases. Many of the private transactions were undocumented while other investments were loans to Positron at 0% interest. The complaint alleges that Rooney and Solaris Management hid the Positron investments and Rooney’s relationship with the company from the Solaris Fund’s investors for over four years. Although Rooney finally told investors about the Positron investments in a March 2009 newsletter, he allegedly lied by telling them he became Chairman to safeguard the Solaris Funds’ investment. The complaint further alleges that these investments benefited Positron and Rooney while providing the Solaris Fund with a concentrated, undiversified, and illiquid position in a cash-poor company with a lengthy track record of losses.
The SEC’s complaint, filed in the United States District Court for the Northern District of Illinois, charges Rooney and Solaris Management with violating Section 17(a) of the Securities Act of 1933, Sections 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rules 10b-5 and thereunder, and Sections 206(1), 206(2), and 206(4) of the Investment Advisers Act of 1940 (“Advisers Act”) and Rule 206(4)-8(a)(1) and (a)(2) thereunder. The complaint also charges Rooney with aiding and abetting Solaris Management’s violations of Section 206(4) of the Advisers Act and Rule 206(4)-8(a)(1) thereunder, and Rooney and Solaris Management with aiding and abetting the Solaris Fund’s violation of Section 10(b) of the Exchange Act and Rule 10b-5(b) thereunder, and Section 13(d)(1) of the Exchange Act and Rule 13d-1 thereunder.
The SEC is seeking permanent injunctions, disgorgement of any ill-gotten gains plus prejudgment interest and civil monetary penalties against Rooney and Solaris Management, and an officer and director bar against Rooney.
the sec filed charges against rooney. finally this pos is going down. hopefully they remove him as ceo and manager of positron!
http://www.hedgeweek.com/2011/11/23/158469/sec-charges-hedge-fund-adviser-and-owner-over-fraudulent-conduct
my account looks good at .01
mm's always put the ask and bid at something high or low at the eod. its just a sign to other mm's that they're out or off line.
i like pgi's new strategy. i'd rather not have all the news and just the Q. or only news if its a done deal.
pgi is bound to hit something big if they keep searching and working on deals. it will take just one big deal to get their foot in the door.
yes, i know, but nite pulled their ask for approx 15 mins, which created that last bit of volume. now their back on the board.
not sure how they get away with that. its not the first time.
nite is at a stand off with itself now.
someone just sold 30M at .0001 with the bid at .0002
NITE pulled its ask for 15 mins. its back up now.
were back to the mexican stand off
yes, that wall of .0001 might be pgi
well, all of the news had that disclaimer on the bottom saying it was forward looking, so technically its not a scam, but yes, its not a great way to gain shareholder trust.
pgi needs to be buying these cheapies up
i dont think they scammed people. they used the funds to purchase the home creek deal, etc. BUT, it wasn't fun for us shareholders. hopefully they let the thing ride now and stay out the way.
yeah, they still have 1.7B left, but they would be damn fools to dump them.
wow...look at the .0001's lined up. pgi could dump 500M at .0001 in minutes.
.0003's just wont go away!
not trying to bash, but i would like it to drop, so i can load up on some more. :)
omg...the 0003's will just not go away!
i hope so. i cant seem to get filled at .0001, yet some lucky basturd is.
the unrealistic wall of .0003's is back.
yes....i want me some .0001
wow...0001 is lined up over 160M wanted
.0003's are eventually going to fold.
exactly, so what leads us to believe they care at all about the otc stock?
they can simply start over on the fse and begin to dilute all over again to a new group of unsuspecting investors.
meanwhile the 2.5B shares here in the otc are worthless.
i dont think they have any intentions of trading out the otc stock for fse stock?
a bunch would sell if the .0003er's would drop to .0002. we got approx 86M shares lined up at .0002.
its a mexican stand off at this point. nobody wins!
its hit bottom!
omg! get off the .0003's. no one is going to pay that.
don't let them fool you. pgi dumped all of those shares on news that revved up the volume.
institutional investors don't buy common shares of company stock to dump for a few hundredths of a penny. they usually purchase preferred stock with expiration dates, par values,, interest or dividends.
gandy must think we're all stupid.
remember some time ago they said they had a contract to haul 70 loads, but then came back to say the bank wouldn't allow them to work for the company because the pay was too slow?\
how were they going to work for that company, when they just recently got the fleet of trucks (2) and drivers registered with the fed dot?
if that's true, then it would be reasonable to believe that they do not care about the pps within the otc market, therefore, will continue to dilute all the way down to zero and then walk away.
those institutional investors bought shares from the company at a discount, which paid for company expenses. those shares were then dumped into the market, so YES, pgi in a sense did sell us shares, just not directly.
the management my have not taken salaries, but the 20 plus other employees did, which adds up to at least $300k to $500K per quarter. not to mention rent, insurance, and other company expenses.