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.
This is the big week for TOFS, financials coming out this week, CC on the 26th, name, symbol & cusip change also this week or in the week of Nov 1st, SS reduction and more goodies to come in the weeks & months thereafter... Get on board now, or miss the train!
$TOFS
This is the big week for TOFS, financials coming out this week, CC on the 26th, name, symbol & cusip change also this week or in the week of Nov 1st, SS reduction and more goodies to come in the weeks & months thereafter... Get on board now, or miss the train!
$TOFS
Yes sir, I totally agree with you! the excitement is building up nicely and with all the great DD we have found & spread around this can go ballistic...
GO TOFS & Spread the word...
TY Ryan, this should be "the wweek" for TOFS we've all been waiting for...
Well said, one can never do enough eh, when a CEO does nothing its always a big inflated drama,
and when they finally find a CEO who tries to transparent then they create new drama,... lol...
I bet some are very desperate to get cheapies, very desperate indeed... Expect more pusillanimous
behavior this week by some,... one advantage though, WE KNOW WHO THEY ARE hehehe
PS: don't sell your shares cheap whatever they say...
GLTA & GO TOFS
You're welcome C³
SEC Microcaps Roundtable "NOTES & Hilites"
Roundtable on the Execution, Clearance and Settlement of Microcap Securities
Roundtable Agenda
U.S. Securities and Exchange Commission
100 F Street N.E. Washington, DC
Station Place I Multipurpose Room
October 17, 2011
1:00 p.m. Call to Order and Opening Remarks: Chairman Mary Schapiro and Robert Khuzami, Director of the Division of Enforcement
Panel 1 — Compliance Challenges Associated with Microcap Securities
Moderator: Peter Curley, Associate Director, Division of Trading and Markets.
Panelists:
Claire Santaniello — Managing Director and Chief Compliance Officer, Pershing
Mihal Nahari — Chief Compliance Officer, The Depository Trust & Clearing Corporation (“DTCC”)
Thomas Merritt — Senior Managing Director, Deputy General Counsel and Corporate Secretary, Knight Capital Group
Steven Nelson — Chairman, Continental Stock Transfer and Trust Company
Marvin Pickholz — Partner, Duane Morris
Brian Lebrecht — Founder, The Lebrecht Group, APLC
David Chapman — Director, Department of Market Regulation, FINRA
Panel 2 — Anti-Money Laundering Monitoring
Moderator: Sarah Green, Bank Secrecy Act Specialist for the Office of Market Intelligence
Panelists:
Betty Santangelo — Partner, Schulte Roth & Zabel
Susan DeSantis — Managing Director and Deputy Chief Compliance Officer, DTCC
Lynne Johnston — US Head of Anti-Money Laundering Compliance, RBC Capital Markets
Harold Crawford — Global Director of Anti-Money Laundering & Sanctions, Brown Brothers Harriman & Co.
Aaron Fox — Managing Director, IPSA International Inc.
Jeff Horowitz — Managing Director and Chief Anti-Money Laundering and OFAC Officer, Pershing
Bill Park — Director, FINRA Department of Enforcement
Panel 3: Potential Changes to the Regulatory Framework Concerning Microcap Securities
Moderator: John Polise, Associate Director, Office of Compliance, Inspections and Examinations.
Panelists:
David Feldman — Partner, Richardson & Patel LLP
Susan Merrill — Partner, Bingham McCutchen
Chris Stone— Vice President of Equity Products, FINRA
Susan Grafton — Of Counsel, Gibson, Dunn & Crutcher
Walter Van Dorn — Partner, SNR Denton US LLP
R. Cromwell Coulson — President, Chief Executive Officer and Director, OTC Markets Group
Quote:
--------------------------------------------------------------------------------
NOTES and Hilites
All panelists agreed that there needs to be communication and transparency between the agencies to be proactive in routing out pump and dump schemes, the selling of unregistered or questionably registered securities, and microcap fraud.
The Gatekeepers of the DTCC have taken affirmative steps to CHILL many stocks that have suspicious trading activities of allegedly unregistered securities or improperly exempted from registration securities. The DTCC does not have the authority to initiate questions to a Security so the DTCC chills a Security until the chilled Security contacts them and remediates the concerns. The DTCC does not advise any Security or the inquiring public on specific remedies or processes to remove a chill because the " bad actors " would quickly find loopholes and other deceptions to circumvent a DTCC Chill.
A panelist commented that due diligence is a " nonsense phrase " when the trustworthiness of the source is highly questionable, and Legal Opinions should be presumed to be worthless because too many lawyers predicate their Legal Opinions on the trustworthiness of the Issuer without conducting any vetting of the Issuer's information which is often false. It was recommended that the SEC impose strict reqirements on Lawyers who write Legal Opinions to thoroughly vet Transfer Agents and Issuers to ensure their Legal Opinions are accurate.
The DTCC have in place a Risk Assessment team to detect suspicious trading activities involving unregistered securities and questionably exempt from registration securities citing severe concerns about Legal Opinion Letters improperly exempting securities from registration. The DTCC raised concerns about Issuers " lawyer shopping " to find a lawyer who will do the Issuer's bidding without any vetting whatsoever and recommended mandatory rules for Lawyers to follow....or many more Issuers can expect DTCC CHILLS. At the onset of clearance and settlement issues the DTCC's Risk and Assessment can and are invoking CHILLS. Securities that originate onshore and then go offshore to avoid registration and to hide share originations are deceptive practices of offenders, particularly repeat offenders. The DTCC suggested that more SEC Suspensions would be even more effective than DTCC Chills once SARs have triggered.
Various panelists talked about red flags and the necessity for Gatekeepers ( eg Broker Dealers, Transfer Agents, Clearing Firms ) to file SARs ( Suspicious Activity Reports ) to the SEC and DTCC on all suspicious trading activities that invariably involve the selling of unregistered or questionably registered shares. The panel agreed that any microcap company that changes business operations should be cause for a SARs. SEC Chairman Schapiro said that one SARs may not be cause for a Suspension or an Inquiry but she exampled that 3 SARs from various Gatekeepers could. She (and other panelists ) state that SARs are accelerating from 578 reports in 2006 to over 1600 in 2011.
Knight Securities stated that Marker Makers have limited resources to discover information on any Issuer and suggested a collective, central base of information be available for all Gatekeepers to access.
The Division of Enforcement and Anti-Money Laundering ( AML ) expect to implement a central repository of information for all Gatekeepers to access. The objective is to identify ALL suspected and proven offenders and to stop repeat offenders who have been successful at starting up new enterprises after a previous enterprise has expired or been routed out as a fraud.
The Division wants ALL non-reporting Issuers to file timely financials and to conduct a yearly audit. The Division wants OTC stocks to file legal disclosures since company disclosures on websites and via news releases can be deceptive.
Panelists noted that an increasing number of Broker Dealers are refusing to allow trading on non-reporting Securities for all of the aforementioned reasons. Regulation Notice 0905 alerts B.D.'s that they may be wittingly or unwittingly selling unregistered Securities or improperly exempted from registration Securities of Issuers and family / friends of Issuers. Bottom line to B.D.'s is to vet all securities for sale.
Cromwell Coulson, CEO of the OTC Group plauded the tier system for being an excellent resource for the SEC to investigate SARs, conduct Investigations, and invoke Suspensions. Coulson advocated for mandatory requirements for Transfer Agents to file all increases in shares of an Issuer.
Coulson stated the OTC Group has a published list of Lawyers who have written questionable Legal Opinion Letters.
Coulson stated the OTC Group has been given more authority to request additional information from all Issuers, and the OTC Group is downgrading an increasing amount of Issuers to Caveat Emptor for failure to provide requested information.
Coulson recommended that Transfer Agents be required to post accurate Outstanding Shares and to post all officers and directors of Issuers.
Coulson recommended that insiders and promoters be restricted from selling new share issuances for one year.
Coulson stated that even with all the warnings and protections the OTC Group provides that they " can't protect dumb investors ".
Closing statements from various panelists addressed dead shells being used to commit microcap fraud, and that vastly improved technologies allow viral frauds to happen quicker than can be detected, therein the need for a central repository for all Gatekeepers to access to identify the repeat offenders in order to expose a current fraud and take action BEFORE they can start their next fraud.
Panelists also discussed recent Bankruptcy companies where the SEC cannot access vital information and whereby the fraudsters are disseminating false information to manipulate the stocks.
The SEC has accelerated Suspensions of some BK stocks. General Motors was a cited example of stock manipulation and the SEC's delisting of GM stock.
The panel also recommended that Issuer websites be regulated because too many issuers disseminate false information.
The panel stated that SEC reporting microcaps are becoming a favorite of the fraudsters and schemers because they find ingenious ways to defraud on the strength of the reporting company's apparent legitimacy.
Many other comments were made throughout the Roundtable so interested persons should listen to the broadcast.
--------------------------------------------------------------------------------
via http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68207600 (posted by Renee)
> SEC Roundtable on MicroCaps "Video" has been archived now.
http://www.sec.gov/news/otherwebcasts/2011/microcaproundtable101711.shtml
TOFS = Financials released this week + CC 26/11/2011
Link thru for all the DD & TA...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68252670
TOFS = Financials released this week + CC 26/11/2011
Link thru for all the DD & TA...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68252670
TOFS Newest DD + TA Charts...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68239414
TOFS Newest DD + TA Charts...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68239414
Great work JD, now it s time to get in TOFS... Link thru for excellent DD...
Outstanding job JD, as usual!!
Time for me to hit the haysack... (I've been saying that for the last hour, lol)
The logic comes from facts & moral issues... too long story, time to hit the haysack!
I didn't hold them, I was out the day before one of the collapses on the chart... I saw the storm coming and watched it pass by...
No you didn't hurt my feelings at all, but I can imagine that those who still hold from 0.05,4,3,2,1 & lower weren't too happy...
But I'm always open for that new DD you talk about...
I remember Flex, just having some innocent fun with the not so smart ones. I won't spit in the soup I ate from, the table is yours. Just don't think the momo will be big this time around...
unless a link to the test results is provided to fuel the race??
Love ya back, but ain't gonna kiss ya, lol
"D"on't "D"egrade yourself, lol
Do I need to say "duh" again? lol
During the run? Probably No, but that was a duh-question to begin with...
Hard to create momo when the company is flooding the market... within a month they throw another load of convertibles, and to start the next year, they need to sell yet two other notes... Pump it in March, after all the junk has been flushed...
But now you're luring in new baggies with empty talk, there is no new DD, not even for many months, so this won't go far, and you know it!!
What was the news propelling it?
No real catalysts, its just some fresh created momo to fill some technical gap after convertibles have flushed the market and made an abyss on the chart... So no catalysts for EVCA, rather a coming cataclysm, lol. More convertible notes in Nov, Jan & Feb, so EVCA can be played accordingly, but don't expect it to peak like in the last P&D back in Feb '11, because there is nothing to pump this flat tire with... except hot air
Where do you draw the line between a dream and a vision?
Every project, anything one does in life starts with a dream, and becomes a vision, IF one works hard on his way into that dream. The keyword here is "work", he has to work to reach his dream, otherwise it stays a daydream,... also nice to snooze away but doesn't bring any food on the plate, so its back to work!!
So here we have a CEO who has had this dream for 13 years and worked his way into that, and if he keeps on working, the progress alone will lead us to a nickle... one day...
...This is just the beginning of a long road ahead...
I only wanted to point that out, just like some say it will go to 0.0001, but with the difference that I'm on the positive side of the line... Will it go to 0.1, 0.05, 0.01, who knows, maybe, maybe not, to early to tell, and that counts for both sides of the fence. The bashers & naysayers don't know it yet, and we, believers don't know for sure yet, but the pendulum is tilted to the positive side here. By the way +-85% of the posters/investors here feel this way too...
EVEN MORE IMPORTANT:
He sold shares in another company, not in TOFS LMAO
Thats impossible to make such predictions!!
It can go to a nickle, one can not excluded that from the realms of possibilities. It won't probably be this year, maybe at the end of 2012 or begin 2013, who knows, but I will be glad that I could scoop up so much cheapies here when we get there!! And if Matt keeps working on his dream and subsequently on his business like he is doing right now, then this has a fair chance of becoming a respectable company, but all in due time of course!!
Do you mean that 0.03% are buy high sell low stocks are, hehehe
well then EVCA falls in that catagory... but don't worry mate I will let you play with this flat tire, because in all fairness you watched it deflate the longest of them all here... lol
Only 3 other promissory notes left (Nov. 28th 2011, Jan. 2nd 2012, and Feb. 16th 2012). Glad to know that this diluting pig is going to stop somewhere in March 2012, thats not so long away, thats not so long away, thats not... lol
That was exactly what happened JSL, nefarious people who deliberately gave a misrepresentation of the facts to create confusion and steal shares by sowing doubt. Watch out for those fear-mongers because they will return today, or certainly next week to try and scare a few weaks hands into selling. Too bad for them their pitiful actions will botch & fail, because we have enough strong hands here and nobody in his right mind would be selling so cheap!! And we have plentiful people on the sidelines waiting to scoop the last tripz up, so we're covered on all sides here, TOFS has the potential to be a stock to remember for a long, long time indeed... GO $TOFS
TOFS Issues Clarification:
(Pink Sheets: TOFS) (247MGI) soon to be known as Baron Capital Enterprises, Inc. , (www.baroncapitalenterprise.com) would like to clarify yesterdays press release and apologizes for any confusion.
247MGI entered into a stock purchase agreement with another public company and sold back to them a large block of their stock. By selling them back the stock for $200,000 , not only does this generate revenue for 247MGI, but will also realize a profit on the transaction. This will allow the other public company to complete their own reverse merger with a private company.
247MGI owns aged debt, some as old as 2 years which the company plans on converting after the merger and selling in the market to further increase revenue for the last quarter of 2011. 247MGI will be entering into an agreement with the new company once the merger is complete to assist with funding which will be a long term project, increasing revenues for 2012.
Once the other public company is able to release any news regarding their transaction they will include the symbol for 247MGI.
This is part of 247MGI overall operations, which is to purchase 3rd party debt and invest directly into companies with the goal of converting that debt to equity at a discount then selling it to generate revenue.
When the financials are released, 247MGI will show a sizable amount of convertible debt it currently owns which it will convert and sell over the next 12 months realizing a multiple of 10-20 times the amount of debt owned.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as believes, expects, potential, plans, suggests, may, should, could, intends, or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
247MGI, Inc. Matt Dwyer , 954-623-3209 President matt@bcapent.com
Source: 247MGI, Inc.
TOFS Issues Clarification:
(Pink Sheets: TOFS) (247MGI) soon to be known as Baron Capital Enterprises, Inc. , (www.baroncapitalenterprise.com) would like to clarify yesterdays press release and apologizes for any confusion.
247MGI entered into a stock purchase agreement with another public company and sold back to them a large block of their stock. By selling them back the stock for $200,000 , not only does this generate revenue for 247MGI, but will also realize a profit on the transaction. This will allow the other public company to complete their own reverse merger with a private company.
247MGI owns aged debt, some as old as 2 years which the company plans on converting after the merger and selling in the market to further increase revenue for the last quarter of 2011. 247MGI will be entering into an agreement with the new company once the merger is complete to assist with funding which will be a long term project, increasing revenues for 2012.
Once the other public company is able to release any news regarding their transaction they will include the symbol for 247MGI.
This is part of 247MGI overall operations, which is to purchase 3rd party debt and invest directly into companies with the goal of converting that debt to equity at a discount then selling it to generate revenue.
When the financials are released, 247MGI will show a sizable amount of convertible debt it currently owns which it will convert and sell over the next 12 months realizing a multiple of 10-20 times the amount of debt owned.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as believes, expects, potential, plans, suggests, may, should, could, intends, or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
247MGI, Inc. Matt Dwyer , 954-623-3209 President matt@bcapent.com
Source: 247MGI, Inc.
TOFS Weekly chart, en link vooral door naar JD's post!!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68200969
My pleasure Ryan, some people deserve it!
Hi Ryan, I upticked your board with another mark & gave you one too for all the balanced and informative posts you give on the TOFS board!! Keep it up mate!!
It's obvious you don't understand the PR or what it means, so read it until you do, but don't come on here and start spreading lies and false information!! TOFS is not diluting NO WAY!!
Yep it sure looks better each and every day, Matt is going to release the financials on the same day as the Conference Call,...
taking about confidence,... they must be good huh!
GO TOFS
Yeah I do, slap the ask!!