Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I see what you are saying, but I think they have had plenty chance to cover. I guess it is the big IF you were talking about.
If I were an MM I would be more than happy to cover at $.02 what I shorted at $1 on down.
I'd love to be wrong, of course. It's just in this case I am not going to count on it.
A freak of nature, indeed. I think penny stocks are pretty much on par with going to Vegas. It really is worse than you might think.
For anyone interested in learning more about naked shorting, the following is a must watch. It is a little long, but if you have the time it is worth watching.
http://www.businessjive.com/nss/darkside.html
Again, like I said, I don't think this is really an issue right now with DPBM, but it will be if they don't find anything and continue to operate by selling more shares.
I agree, I don't think it is very large right now.
If we get through to the fall and the end of the dive season without anything having happened, then we might see more shorting.
There is no way to find out what the short interest is for a pinksheet stock. Shortsqueeze.com only lists registered legal shorts. Naked shorts, which are rampant on the pinksheets have no public way of being tracked.
As capted clarified, it would be the short MMs that would be in trouble. If someone has a significantly large short position, legal or not, in DPBM they may be forced to cover it.
Unfortunately, when the MMs see that a company is raising capital by selling shares, they know the price is going down. Sometimes it those situations they short it more and more, because they know the company will have to sell even more shares at lower prices later to continue running the company. What starts as a small increase in the outstanding shares, can end up with the O/S being increased many many fold by the end. At any point in this process the MMs may have sold millions and millions of share more than really exist.
However, the can get totally screwed if the company all of a sudden comes up with a new, significant source of revenue. One, they won't need to sell more shares and two, everyone is buying all of a sudden and driving the price up. They suddenly have to cover their short position before the price goes too high.
DPBM is in a fairly unique business where this could easily happen, broke one day and stacks of gold the next. I'm sure that's what capted is implying. We know they got the necessary equipment and are diving it right now. I'm not clear on the current permit situation, but hopefully that will all work out.
However, there is no sure indication that anyone is significantly short. The MMs could quite easily have covered any positions on the shares we known the company has had to sell recently. They've probably loaded up at $.02 just like we have been. Either way, we should see a substantial increase in price if they pull up treasure. The current Market Cap is only $10M if they find even $50M million in treasure we should jump to $.10 easily. Like Yardboy, I hope those longs who are far into the red have averaged down.
Yeah, I remember. Here you go:
http://www.investorshub.com/boards/read_msg.asp?Message_id=20678211
I think that was it.
You sure like to talk a lot don't you, but you don't listen much.
I think every person that has been posting here owns shares. I never said I lost money either. Luckily, I didn't listen to the blind hype and got out before it was too late.
If you haven't noticed everyone else seems to be getting along at the moment. You're the only one causing problems, lately.
You've been here what, a week? I've posted on this board as early as last October and owned shares before that. I used to have over million shares of DPBM back when that used to mean more than it does now at two cents.
I may not have been a shareholder that whole time, for which I am extremely grateful, but I have followed the company ever since - waiting for re-entry. Somehow, I never found the idea of holding onto a stock while it was going down very beneficial.
I've been waiting for months to re-enter this stock. Waiting for it to find a bottom and for Wilf to find something on the bottom. I've started taking a position again as perhaps this could be the time, but I'm not convinced yet that it is. When this latest round of dilution dries up and they start bringing stuff on deck, then I'll be convinced. We're not here to pump stocks simply because we own them.
I'm the moderator because we don't need a second cheerleading section. Folks can find that here: http://www.alldeepblue.com/wordpress/
OT: A great source of investing information here in this iBox, if anyone has time for some casual reading.
http://www.investorshub.com/boards/board.asp?board_id=7489
Have a good one everybody.
Well, if you don't want to say, that's ok. ;)
But could the DR project really be put on hold? It sounds like they scored big getting this guy to choose them. Wouldn't that be tough to turn around and say, 'Sorry we can't show up for work for at least a year.'
???
Every 300 trade is not an MM signal and I doubt it is in this case. Why would the MMs need to take it down to get shares when Wilf has openly admitted to be dumping 50M shares into the market? That will take the bid down easily enough by itself.
I'm not sure which is worse, believing every 300, 411, 911 (and all the rest) trade is a secret message or not knowing what they supposedly are in the first place.
There must be something said for getting into the DR thing while this guy is still alive. I'd want to work with him for as many seasons as possible, just in case.
Never rains, but it pours?
Yeah, we'll have a general amnesty at this point and see if everyone will behave going forward. Although, there are probably a few of those threatening posts that ought to go.
I went to high school in Michigan and can appreciate the joke.
I recommend folks on both sides of this debate tone it down a little, skeptics and zealots both.
Personal attacks against other iHub members is very much against the TOU.
(However, I reserve the right to call anyone who invests in pinksheet stocks without even knowing the share structure of the company or what 'share structure' means, a moron)
Ditto, would one of our blog guests like to go over there and get this clarified?
I think you understand what we are doing here pretty well. I wouldn't advise my worst enemy to buy DeepBlue right now without a ton of caveats.
Tell me this SOS, what price did you buy in at? I'm sure a lot of the people who were in at .09, .06, .04 or even .03 would like to have known about the ongoing dilution before they bought into this company.
The last thing we here at iHub want is a bunch of new shareholders duped in to buying DPBM on one-sided promises. There were people saying those exact things last fall, from both sides. The people who listened to the detractors are better off and the others are now out 50% of their money.
There are reasons to both buy and sell any stock. We're here to talk about both. If you don't like it then complain to the moderator. I wouldn't recommend it though, since most of your posts violate the iHub TermsOfUse and you'll likely get yourself banned.
I'm all for it. I'd love for Wilf to take over this guy's legacy.
Why does this DR/Tracy deal make me feel like Anna Nicole Smith marrying some 80 year old millionaire.
Lets name the new boat the 'Sugar Daddy'.
So are we in the middle of that 50M shares now, or is this a new round starting?
It also has a loophole or two. As long as the sale was setup prior to becoming aware of any non-public information, you are good. However, you can cancel the sale at anytime, even after you find out that you just hit the jackpot.
Of course, there is the other loophole you mentioned - this is the pinks. The SEC turns a blind eye to almost everything here.
Doesn't this apply to insider trading for individuals. I don't think anyone is accusing Wilf of selling his own shares. If anything he is buying more as stated a few months ago.
I would like to hope so, but according to some here, Wilf set the 504d train moving last year and can do nothing to stop it. We've got a runaway, mad, share selling locomotive and there's a bridge out ahead.
You were probably smart to average down since there is a very good chance we'll go over .03 sometime soon and we've been there recently. However, they're right, you need to diversify as soon as you get positive or sooner.
Better to unload some at a loss on the way up than have it hit .029 and never come back down. I know someone who did exactly that. They were down 70% or more and the stock more than tripled one week. It hit his break even point for a day, but he wanted more. It sank to new lows within a month and never came back.
Even Linda's broker would agree you should diversify.
A lot of that volume was doubled as seen by the AH post of 833900 shares sold at $.0191. That trade is mirrored with all the shares sold during trading hours by the financial entity the is raising the equity in behalf of DPBM (selling shares). So the real volume was probably only about 3/4 of today's total. Mirror trades tend to throw it off too and we had some of those.
The best explanation I have heard from another board is that the selling entity shorts throughout the day and the formT trade AH is them covering from the block of shares they've been given to sell. It is done at a %based lower prices that the sales they made and the difference is their commission. A large, late posted, oddly priced AH formT trade is a good indication that some of the company held restricted O/S is becoming float. We been since these formT trades for a few weeks now.
LOL. Not the ones I invest in! The ones I currently own have REVENUES to pay for EXPENSES.
Pinksheets without revenues are for flipping and momentum plays only.
Tell me, how much money has your broker made in DPBM?
I never said Wilf was 'swindling' anyone. He has vastly undermined the value of his shareholders holdings over the past year by doubling the number of outstanding shares. A number of people have commented on the failed promises of a small tightly held float.
Don't get me wrong, there are plenty of companies who do this and pretty much pocket the money. At least he is actually doing something with the money to forward the company.
Wilf has openly admitted to selling shares to fund operations. That right there is proof enough for me. There is no reason at all to hold your shares while such dilution is going on. I sold out completely last fall at the end of the dive season when it became apparent that nothing was going to happen and there were no revenues coming in.
Since then, the selling of shares has drop the price from $.05-06 down to $.02. I didn't lose a thing while all the loyal longs lost more than half of their investment.
I can't even begin to go into how what you said is wrong and I've yet to meet a broker who knows a thing about pinksheet stocks. They always just say avoid them. You don't go to a broker to learn about pinksheets. Try asking the folks who trade them on a daily basis.
Unfortunately, the fun posts where the bloggers were showing their ignorance are long since gone. Sure there are probably exceptions, but DPBM by nature of what it does attracts a large number of people who aren't even amateur investors. For many of them, DPBM is the only security the own.
Yes, I trade without a broker, which as most people who actually make money investing will tell you is very 'wise'. I've more than tripled a large amount of money in the last 6 months, I don't need you telling me about investing.
The problem is you can't explain to anyone on the blog how badly Wilf is screwing them over as shareholders, because none of them have any clue about investing whatsoever.
Most of them don't even know what the term 'share structure' means, and yet they are making price predictions for the stock. Morons.
Looks like Wilf is dumping into the PR again.
I grabbed 100K at $.02. Seems like he's instructed them not to sell very far below that, so I think I am safe.
They've been saying that OTCBB thing for a long long time. Even if it isn't the company that is selling this week, they have in the past. They've given large blocks of shares to others who are now selling, IMO.
It's all dilution one way or another and now it has come back to bite them. Unfortunately, there are a lot of restricted shares out there that are probably reaching the end of their restriction.
Either way yesterday was a surprise. I was just ranting after seeing the price so low and then it drops 50% later in the day. OUch!
Still, an interesting one to follow. Hopefully it will go sub-sub penny soon and then it might be a real steal if the company still exists. Maybe I should call the TA and confirm your 'no dilution' story.
Yeah, that's the reason I'm still watching this one. Have you confirmed the shares structure with the TA recently? Last time I tried the TA was gagged, which is also a big red flag. It would be interesting to see if the A/S or float has increased in the last 6 months.
Needing to 'just turn the corner' usually means they need funds to pull it off.
This is another classic example of a company selling empty promises for way too long. Eventually no one wants to buy them anymore.
The people who bought in early just get totally screwed, because the company dilutes their positions into the ground to stay afloat. Sadly the folks who got in early often still 'believe' not realizing that even if the promises all come true now that the dilution has eroded their positions away to nothing no matter what.
A 10 bagger from here doesn't get most bagholders even and is still down 80% from only 1 year ago. This stock would have to go up 80x to get back to last June.
Luckily, I only flipped this occasionally and probably didn't quite break even.
Thanks Jerry from all of us.
The problem is I've never heard of a CEO who when asked said, 'Oh yeah, that's us selling shares.' Never. It just doesn't happen. So, I'm not very confident it what the CEO 'says'.
If it isn't them it is someone the company has given large amounts of stock to for goods or services. This isn't any different.
If a company doesn't have enough revenues to run on it's own then the market and MMs can do what ever they want to them. When I first talked to them last year they had apparently just increased the Authorized Shares. A company doesn't do that if they aren't planning on dumping them.
capted has already told us more than he probably should have and certainly more than the company has bothered to. We're really close, lets just give it a few days.
We all want to know more, but lets not get the golden goose killed.
This wasn't directed specifically at you brezzlin, your questions were straightforward and deliberately not 'was there gold!?!?'. :)
Don't those categories only apply to those snobby, high falutin', pinksheet stocks? Us grays don't like them pinksheets always looking down on us.
I'm patient, but not that patient.
Is this where the party is?
I came to that same conclusion this morning when you mentioned the boat. I guess I feel a little better about that than just going to salaries.
I sure hope you're exaggerating about Capt. 6k, that's ridiculous.
I don't know where you came from, but that AH trade is a clear indication the company is dumping shares through an institutional trader.
Either the company or a very larget shareholder. My money is on Wilf.