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There will definitely be tax loss selling prior to 12/31/08.
Keep this in mind. Also some institutions may unwind now to get this into Q3 2008 filings ending on Sept 30th. If those
shares hit the market it is going to be a bloodbath I would
suspect.
Yep Lehman was thrown under the bus. The world-wide reaction to this probably cost $1trillion if not more. AIG would have been even worse. However Lehman will go down as a bench mark
BK for all law students to study for years to come and of course the MBA guys will get it as well. What not to do with a
165 year old company. Unfriggen unreal. And Fuld will be villified in history as well when the investor law suits come in which are filed in NYC.
I don't know where Lehman may settle out but clearly the sentiment is down from here. There is nothing encouraging in their filings in the court today. Juris Doctrate class of 93
keeps me interested.
Good luck to all players.
Except for the guy who lost $6billion in the markets in the last 2 weeks primarily from financials per CNBC.
United Airlines also went thru this and eventually reorganized but not before they wiped out the common completely. It did take some time and then they re-issued and re IPO'd it. I think Lehman may end up with "possibly however unlikely" something from this but Fuld dumping his shares tells you better than anything else what is going to go down. Zero.
The BK filings today state this process is going to take years to unwind. So it will be around for quite awhile. Better than most pinks if you can find a true bottom to time your buys and sells. A highly flexible situation however. It is
impossible to know what the value on any particular day might be. Follow the BK filings from that great link provided.
It is strictly a gamblers penny stock now following the delisting. Also the credit downgrade of their bonds to junk status won't help. These folks were right on the very edge
today of a complete collapse and closing of their business despite the Barclays offer. The judges ruling today prevented that and bought them more time.
No Fuld has essentially bailed on this. They will reorganize if there is anything left after years of litigation and ultimately zero out the common. So it looks like you can play it for the pennies from now on....daily ups and downs. 10% here and there but a much better gamble than the other pinks as there are still newbies not familiar with penny plays who will buy it up and provide some support when it reaches a natural trading range.
Read the BK filing as of today. Lehmans has no cash available to it and the judge granted an emergency $200M loan from Barclays to tide them over with an additional $250M revolving line of credit all to be deducted with costs from the $1.7B of
essentially ALL LEHMAN holdings in the USA.
I watched that CNBC interview with Robert Diamond CEO of Barclays. Obviously he thought very highly of Lehmans and he
got a super low price. He said that acquiring all of Lehman
would have required them to have more cash reserves than they could raise on their balance sheet per government regulations.
The FEDS would not backstop them and so they were forced to withdraw their bid. So they cherry picked what they could handle. He was a very bright guy IMO.
Excellent post and thanks for your efforts sir. I have followed the story from the beginning and I too lost out by buying in on Friday and then when the deal failed to materialize the ceiling fell in. I had been confident there would be something negoatated over the weekend.
Then I bought more shares yesterday to see if anything would
have with the BK filing. It has been becoming clear to me that they are selling their prize assets at bargain prices and essentially destroying the book value of their assets day by
day. Now they are cutting loose perhaps their best asset in
Newburger. In my view they are going to end up with nothing
left over when the debtors committee is done with them.
I have now sold all my shares and overall the losses were manageable but still regretful. I am nervous about playing
it for a flip with a delisting coming.
I think it is telling that your contact Ms. Butler said, the common is at the end of the pyramid and their debts are substantial. From an IR person that basically says its all
over but the final accounting. I will watch it and see if
they emerge with anything at all which could take a couple of years in court. Drexell went on for years it was reported.
Good luck to everyone. I will continue to follow.
It will if they can unwind that $644B in assets they are said to have without too much more damage. The bidding for Nuberger-Berman etc is said to be brisk. If they can get $5B out of that and not $3B then thats a decent start. Their MBS
portfolio is problematic and no one knows from the court filings if the assets have been discounted enough. They could
end up discounting enough to eat up all the equity leaving no
value behind. The pps would seem to reflect this possibility.
CNBC 1:45PM EST: Deal said to be getting close to acquire more assets from LEH by private equity firms....said to be
$3-5B all cash required. Expected announcement by Friday.
What?? I am exactly who I said I was.
Ha ha ha ha. Does that register with you BDM? There is going to be NO UPLIST. You folks are stuck with a pig in a polk here. I have a valuable tax write off for the next 3 years from this POS. But I intend to hammer Newton legally on every front I can think of mostly behind the scenes.
His emails and PR's are an affront to human intelligence. You guys like him but God only knows why. He is desperate now and going to get no quarter from me.
Yeah but I am not interested in anything Travis the individual is doing. He prefaced his remarks talking about buying Iraqi denars in the millions and that really turned me off. He was
thinking the denar could see parity with the USD like it was before the invasion by the USA some years back.
And I think buying foreclosed homes as he is proposing to do and renting them out is also risky business but I actually like that idea better than what he is doing with OneFi.
JMO. Say where is that secret news billyf, chuck, et al??
Been playing AIG at the open this morning at $1.57 still holding.
Definitely got sweaty palms waiting on FED bailout news for AIG.
LOL. Character issues there I guess.
Johnny you need to see the paper filing of the REGDEX to determine whether it was a 504 (sale of common on the market)
or 505 or 506 (privately arranged sale of common). The vast majority of these turn out to be REG 504. You can order from the SEC by mail I guess.
My point is they would not be arranging for the sale of securities at this late date if they intended to move off the pink sheets and is the strongest evidence I have seen yet on what their true intentions are. Especially a filing today and effective on 9/11/08 if your info is correct.
REGDEX filings are always feared in the pinksheets by experienced traders. Dilution usually begins within days or weeks.
The implication with filing a REGDEX today is that the uplisting to an international exchange is dead in the water.
If you are moving to another exchange there would be no reason to file a REGDEX with the SEC today.
Something to keep in mind here.
The tax write off on this stock extending forward for 2008, 2009, 2010 is far greater than the value of the shares if one was to sell and move on with regards to capital gains allowances made by the IRS. So, that is a positive out of this mess if worse comes to worse.
The REGDEX filing is almost always a 504 to sell additional shares. As I tried to point out many times in this economic environment companies are starved for cash. The prospect looms that those wishing to sell will need to compete with
Newtons desire to sell at the same time thus causing an impasse.
I am surprised that more lotto players haven't showed up to pick up the 1's. Some people make a living doing this in the pinks. If you lose your bid over any length of time then that is bad news and you could get boxed in where you cannot sell even at 1. This happened at XXIS.
Another exchange at a higher value if a miracle was to occur.
Lets get our heads around something real besides RCCH which we all know is just junk mail. Put your energy into something with substance is what I humbly suggest my friends. And I do consider you to be friends. Yes we have been on the oppoosite side of the fence but hey if you can make money I am happy.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32187321
You have durkkdigglers post to keep you company and remind you of me. I am just nearly done with this except for Gene Newton. That character I will likely pursue and leave you in peace.
All the best.
Happy hunting to you Twin Turbo and I use your favorite....phrase.....HA HA HA HA.
Lots of intelligence in that kind of junk actually.
Done deal.
Yes hope and dreams of an uplist. Well what else is new on the pinks....actually. "I Am A Soldier" googled is more intersting to me than this trival BS that Newton has put out.
At least this person was a real soldier in the field. Newton is playing games with you thats all. Buy it up if you will.
That is your choice. I am completely out as of today so I am no longer a shareholder in any way shape or form.
I may still visit if you toggle me but now you are on your own pretty much. Good luck to all holding in Gene Newtons dream of world domination with RCCH. Oh sure it is worth billions.
Well the market disagrees. Happy hunting.
Get a clue BDM. Once and for all anyone short in rcch could have covered today or last week if they so desired at .0001.
You need to worry about where these cheap shares are coming from instead of throwing out these meaningless innuendos.
Gene Newton did...but bogus info IMO. Linked to the Royal Bank of Canada no one at all could confirm that...I tried.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32188182
Yes, I understand. However I disagree with your opinion that investors who have played the pink sheet market will stick with it over the long term. There are just too many disasterous price declines with the news or even without it.
No, the days of making 10 baggers on the pinks is about over.
The harsh realities of what can happen to ones portfolio are much too clear. We all like the idea of investing something that can see nice runs but the hard truth is there are always bagholders who bought on the momo and hype. It is the way of the pinks. The bottom line is these pinks say alot via PR's and so on but rarely produce the real beef.
As long as people play pinks there will be those to take advantage. It is a game of musical chairs. You pay for entry and then hope to get off with a profit. Only problem is that
doesn't happen too often.
I personally made more than $40K on a pink stock in 2007. Since then I have seen steadily mounting losses. That is the hard reality actually. Most go down not up over time. Whats going to happen when they all are at .0001 or thereabouts?
There are obviously better penny plays than the pinks on the NYSE right now. Look at FRE, FNM, LEH, and possible AIG in the next day or two. All with real assets in the billions.
No bullshit involved with that you still take your chances.
Good luck with what you do.
Of course and one would expect that. There are traders who deal with .0001-.0002 loto plays. It will continue and maybe you will see a momo run too. It is an apparently a low float less than 2.5B shares O/S per the filings. It is what it is.
Good luck everyone.
Yes, it is all about buying foreclosed homes in the Las Vegas area as he described to me. Then they would rent them out and wait for a market upturn to sell them.
I have stated before on this board that Travis is a gambler and he does know people he could influence. Apparently the President of this deal is one of them.
I was not interested. I could do that much on my own and hold personal control. Actually I suppose if anyone with real money could invest in OneFi. I think they are interested.
I found it amusing that some have posted they have this secret information on how to contact Travis as if that in itself would inspire some investment here. I think not. The penny players are too smart for that tactic or at least I hope they are.
Look at AIG in the next 48 hours as a penny play if they collapse like LEH did today. There is definitely money to be made on these plays from a gulliable public.
I reiterate that the pinks are going the way of the dinosaur.
More and more money is leaving these plays in general. Check out the posts of the major traders on ihub people. They know what is coming down. The pinks are junk mail period. There are much more interesting plays out there now if you look for them. Good luck everyone.
Yep you are right on that BDM. I sent out an API to all I knew back in May as I recall as to why I was selling. You choose not to listen. Of course that is your perogative as an investor. I did flip a few times on the hype. Made back a thousand bucks or so but that died out in continuous downtrends.
Someone put me as asst. mod again and I liked it so I could read all the deleted messages. Which were a handfull.
You have cast your lot with this character Gene Newton. No doubt at one time he made money but it was with another company as an employee. Gene has done nothing since IMO except play the roll of big shot holding company executive.
He has traveled the world on your behalf and has nothing to show for it. That is a fact. Let him show you something of
a positive financial nature. Not these wild a$$ claim he makes.
Let him email gchnj or anyone at all where his degrees came from so they can be checked out. This was all public info but never stated the university involved. That is extremely fishy as I have posted my alma mattas let him do so as well.
My thought is he won't bother with it. As gchnj said, you guys have 10 days now to show his credibility.
Get a clue BDM. This is not about shorting. The damage is already done. This is about retribution on Gene Newton period.
Eventually I will let it go. But not yet. I would like to see his ATM machine shut down permanently....that would be fair justice.
If you want to hold God Bless You. However you should realize if there is no bid and it continues you just need to pray that someone will buy you out for .0001 or whatever you can get if this goes down as I suspect it will.
The man has cost people here muncho money to be sure. If you want to string along with Gene Newton then so be it. Good luck with that. Dreams of riches die hard people. I understand that well but look at the posts of today. We have gchnj saying you have an 11 day window or you are "screwed".
Gee I wonder why that timetable is applicable. This thing could linger for a long time as dead money. That is much more likely IMO. Good luck BDM. He played me for awhile as well.
He has set himself up to be a "public figure" anything on this man is fair game for one and all. If he was on a bigger board he would be crucified....no question about that. They would short the living you know what out of his stock after talking to him in person.
The problem here as that too many never made those phone calls and if they did they didn't get to the heart of the matter.
The man is not a fraud I don't believe. He apparently had some success in his life. I question his academic degrees however and would love to see him post where they are from so we could double check. This is easily done. But no, we only have more claims and nothing of substance to go on. Of course I would take the time to do it and post whatever the results are.
So, I challenge Gene Newton. Show us the university you graduated from and the year so we may inquire. Obviously the law degree he claimed to have is junk mail. The rest of it might be the same or it might not be. It is hard to nail these guys down when there are shreds of truth in their claims.
Yeah reality people. Look AIG is possibly tottering on the edge of bankruptcy itself. This is the largest insurer in the world. When the wolves call the notes due which they can at any time in most credit arrangements and contracts even for that matter it is time to put up or shut up.
Gene Newton has a run-away mouth in the extreme for any who have taken the time to talk to the man. He cannot stop about this billion dollar deal and that one. He told me in phone calls and in emails that CPIC was a part of the Royal Bank of Canada. Subsequent DD and phone calls proved this was untrue.
That is just the tip of the iceburg with this man.
Durrkdigglers picture shows the USS RCC Holdings going down.
Well the question is....who the hell cares??
You can make a mini-cartoon series out of it Durkk....something to use your many talents. No hard feelings towards investors in this stock at all. Far from it. I have an attachment to all who have posted since Jan08. Personally, I wish you all well. My feelings do not extend to Gene Newton however. I do intend to do my utmost to see he is brought to some kind of economic justice for his many misrepresentations.
I will gain nothing but personal satisfaction from seeing this
idiot get his just deserves.
And looky who spread the rumor of hospitialization. It is well known that Newton has a continuous problem with an ulcer on his leg which often acts up. It could be that if true or perhaps an aggravation due to stress. Lord knows he is in stress. No response from on emails from various people.
Except for the fact that I have a personal "agenda" with Gene Newton. This person deserves to go down and if you ever spent as much time with him as I did you would see the reasons why I feel this way.
You all can believe in this guy if you want to but I made my judgements about him in May when the PPS was much higher. And I was not alone by any means....others who talked with him felt the same way.
You folks believe in a myth when it comes to his benevolence.
If you read his emails to me you will see that he only cares about himself. He said a $100,000 penny trader did not interest him. Well I wonder if the $800,000 debt which rcc holdings owes to him is relevant in his mind. Sure it is.
The only hope he has of ever seeing that money is if this board will support his ambitions. The call is NO. You do not support him. That has been clear in the last weeks trading.
I am about done with him other than to turn him into the SEC for various filing failures. Good luck to those who remain.
That is old information Chuck. Where have you been? Billy and I discussed this in the last two weeks. I knew it was Crystal something real estate because Travis tried to get me into it. Billy had the accurate name and posted it.
Travis is playing shell games now FWIW. I see we have more secret contact info again today and secret this and secret that. Sure LMAO.
The entire penny sector is going to take a massive hit over the next 180 days IMO. There simply is not enough cash available to go around for those who need funding. CNBC said they expect as much as $3trillion to change hands in the credit meltdown which affects ALL COMPANIES. Big and small.
And changing hands on $3trillion means that there will be very heavy discounts coming on all stocks whether it is pinks or whatever but especially them.
I am of the opinion that traders are going to leave the pennies and start messing around with former big board stocks life FRE, FNM, WM, AIG and others. They are doing it now.
When people realize they are being played by the traders then they will cease and desist as well. It is an ever shrinking pool of capital going forward IMO.
Good luck everyone.
ST did their clients a favor on this one. TDA and the rest didn't. Doesn't matter why it happened but those are the facts. RCCH was not alone. There are others in the pinks on the "no buy" list. Of course LEH is not there if that gives you a clue. If ST was going to short anyone at all they would have shorted LEH and there is no evidence they did so. The shorts made out like bandits today. Just last week that stock was at $17 and today in the low pennies.
I don't get any enjoyment out of what Newton has done. I expect next he will try to walk with the privately held IWS shares from that Florida filing along with Smith so they can keep personal control of it.
I think Newton's personal loan to RCCH for $800,000 is basically lost. The interest alone of $48,000 a year exceeds the market cap. He is going to try and milk the last few bucks out of RCCH IMO then walk. I see no tender being made now and certainly no uplisting to a foreign exchange.
Newton is toast and he knows it. Why the continued silence in light of the collapse of his company? I think he has made himself a legal sheet hole that he can't crawl out of easily if at all. Who wants to spend the money to go after him? Probably no one here. I sure don't but might go to small claims court as this plays out. Need to do some more research into jurisdiction and so on and need more history as well.
Take your choice bag. I think the reality is Newton needs cash for all the reasons I outlined. With an ask at 1, I would say it is Newton and perhaps some MM who was in the 504 filing they did some months back. I don't think the O/S is anywhere near 340M now. JMO. Good luck!!!!