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Yeah, but the real impressive guy is the technical bod. In effect nytex is his invention. Experience has taught him the management isn't his strongest suit. But tech is....
In the old days of uama the idea was excellent, the problem was one of execution. For that you need a strong CEO. I think this time around that problem is solved.
This is going to get very exciting soon.
On another topic, the filings, I was thinking logically that if they were to file today it would be for q4 last year. Q1 this year would be more sensible. So filing would be in April. Could be wrong
I think a short trader was getting desperate. If the stock closed at .025+ he may have been in serious trouble. Shooting the price down in that way was desperate to say the least. I only hope he works for a brokerage or something and was worried about been fired. Not a private investor worried about loosing his house.
It cost him another 1-2 million on his short.
I hope he has deep pockets. It's going to cost him big time to cover
Or the short dosn't want the stock to close too high, or he will be forced to cover.
He will panic soon.
I'm hoping it's the filings.... With that the CE can be removed and we can work out a true value.
If it's just a PR update I would expect all today's gains to be lost tomorrow
Been that stocks always move prior to news, and I am always the last to know.... I guess (and this is a guess), that the filings / update are done either after the bell today or prior to trading tomorrow
that makes a lot of sense,
My understanding is that MM's dont deliberately trade short in a stock (but it can happen through normal trading that they find themselves short to a point).
So when you say the MM's are short, do you think they are actively trading, or do you believe it's other investors.
I have also been looking into this 3 day rule to cover, and from what i can see; it's pretty much universally ignored. They used to get around the restriction completely by simply selling the short position to the guy sitting next to them in the office. Effectively covering themselves, 3 days later they would buy it back.
Some rulings came out a few years ago to attempt to close down some of the more sharper practices, but has only had very limited success. The methods may have changed slightly, but the practice continues.
Do you have any thoughts on the 3 day rule ?
On an entirely different topic, but something I have also been, and will continue to watch. Has anyone else noticed the recent volume increase on the nytex exchange. Previously the top volume performer was at about 115 thousand when I started watching a few weeks back. That grew to about 150-160 over those few weeks. This jumped to about 200 thousand over the last few days. This may be a blip, but I hope it's another trader taking up the service. 80% growth in 1-2 months ..... Not bad...
Also on a side note Libya volume has been steadily increasing up the rankings since the conflict. Currently 3rd on the exchange. The recent jump been when the airstrikes started.
Hi,
You state no insider selling. As I understand it the new shares are restricted for 6 months. This would not prevent them selling the other 30 million that they owned before the merger. (apart from that it would make no sense). Have you other information from which you draw that conclusion, or is this based solely on the PR which stated no dilution.
I'm interested as I am trying to make sense of where the selling is comming from
I have been reading quite a bit about this, but would like to rule out the insiders been behind the volume.
There is no hold up. The PR confirming the merger with nytex was released as expected.
The official filings are due out at some point soon, but there is no expected release date.
They will be out when they are ready.
Cover in three days... How the hell do you do that when you are short 8-10 million shares.
You think UBSS, you may well be right. However I believe the short position was taken intentionally, thinking like all other pinkies this was yet another share scam.
MMs in general can of course become short in a stock, but not deliberately so. And if they do, I have no doubt they would do what they could to manipulate the price. But I do not think that's wats happening here.
This was aggressive shorting. The downward selling is simply keeping the price low waiting for the dilution.
Your 3 day quote is interesting... I was not aware it existed... I doubt they could cover in that time.
MMs will keep the bid low while there small short positions are rectified. And then let the price run. The short position on this stock had gone well beyond that.
I assume you referring to the impending filings. They always take longer than expected. But hopefully soon.
Normally it's because the volume has slowed right down, so they lowed the price to stimulate some volume
And you are also quite correct . Sometimes it's painting the tape
I agree, i don't truely understand the SHO list.
a buy could be printed as a short because the MM who gave you the shares may have had to short to forfill the trade...
I don't think your sell should have had that effect...
I would like a true number on the shares short. I know it must be high, but i do agree that the SHO figures are probably not the best guide.
yeah, the reason they shorted a little more was simply to keep the price down, I dont think they really wanted to add to their postion.
When the stock climbs, the paperwork looks bad, and the stock broker starts to make some phone calls.
thats 8 million shares in the last 5 days.... but this has been going on now for more than 5 days... what is the TOTAL short position now ?.... 10 Million +....
They are now waiting for the enevitable dilution that always happens on the pinkies, that will drive the price to near zero. BAD NEWS for shorties...... IT AINT GOING TO HAPPEN...
shorting 10 million shares at an average of .015 (guesstimate)netted them $150,000...
backing back at .50 will cost them 5 million.... This is why I think this could become a SERIOUS issue... I doubt they have that kind of cash.
I agree totally with the CE, as an investor getting the filings in place and off the pink sheets is much more important to me than the short term share price
Secondly as a couple of quarters pass, we should get an idea of growth rates and eventually a proper valuation.
The Problem with covering your shorts, is that you need real people to sell real shares.
Normally in the pinks this isn't an issue, as you can control the price and keep it low.
Most of the time you can cover when the inevitable dilution kicks in.
Regardless if the price stays low you can take your time....
When the price keeps going up, and you realise there is no dilution, and people are in for the long haul , what can you do? Short more ? Pray?
Does anyone know a good website to pick up the daily and historic SHO
There is still that massive short... That has to be dealt with at some point.
Personally I wouldn't bother. He is much better staying well clear of accusations of dilution. He made the PR .... Job done. Anything he says will be deliberately misinterpreted anyway by the shorters.
The solution is to get off the pinks. And that is in hand.
If he starts releasing a PR everytime something happens, he will be accused of Pumping
Let's just get off the pinks over the next few months.
Hi rig,
Are you still following UAMA. They have just become active again
The story is very interesting. Profitable company. Nytex. Take a look
Are you still holding your shares?
Yep, me being one of them 65,000 at 0.02. Missed the low ......
No posts in quite a while. Check out what's going on with our old parent company uama
7 million is going to be very hard to sort out. I think most people realise what's going on here.
I think we are going to see some fun and games as they take more and more desperate measures
Expect A LOT of bashing on the board and a LOT of short meaningless posts. Making communication impossible.
I suggest talking on the TLPH board UAMA owns quite a bit of that one. So not off topic.
He may have a point that it's unscrewed, or possibly missleading.
But to say it's completely fictitious is wrong.
In my experience shorting is common when thinly traded stocks suddenly hit volume
An MM can't wait for a seller to match to each buyer. He just has to make the trade. That's his job
He gets short when everyone buys and there are no sellers
He needs to control the price so keeps the bid down. Most of the time this works great
O casionally the fundamentals Of the stock have changed, and there is no way left to control the price
I have no idea how they trade out of this.
They have to be a little careful with the 50 million shares in the reverse merger
They own about 75%, I don't know how they stand as a public company for that
Is is 1 share less than 50% the most they can own. Or is it on more of a per person basis
That has to be wrong... They would never short to that extent
Maybe 1 million short total
Officially the float is about 23 million
The MMs were 5 million short after last weeks trading
I can't think its anyone other than the MMs selling today
I would love to get the SHO figure after today.
How are they going to buy back 10 million shares
One thing from the PR that hasn't really been discussed
400 million minutes sold = 20 million dollars revs
The Market currently has 400 billion minutes which gives the company
20 billion in revenues to grow into.
Even if they only ever managed 5% they would still have 1 billion in revs
This assuming that 5% figure is correct... I guessed it would be much less.
0.25% or something . The financials will be interesting when they come out
Yep, it went very well. I am hopefull here. With what happened with BLACK I think there is something to prove here. He was accused of insider trading (falsely), I think he wants his reputation back.
Many people would have folded with what he went through. He now has life experience of the sharks out there.
I don't know if he wrote the software, it just wouldn't surprise me if he did
He is a techy .. Look up his wiki page. And also how he got stiched by a guy called BLACK
Great techy, but perhaps not so strong in business. Which is where I hope Trevor comes in
He certainly has shares in uama . Not sure about Trevor but I would think so
I agree that is probably the effective result
But I don't think it was the plan...
The news about the caribian one switch falling apart was a surprise at the time
Can't remember the country, but the leader was as mad as a box if frogs...
May have been Libya....
My memory just reminded me they used a shell to roll tlph into
I think it was OSK capital II
But this is just from memory
Yes
Uama was / is a holding company which had 2 concerns. One was effectively teliphend and the other was providing telecoms switching networks (caribian one switch). About the same time telephone was spun off . The world powers started causing issues for the switching networks. Effectively leaving uama with nothing left except the proceeds of the spin-off.
I had / have 100000 shares in uama
The spin off gave me 53000 shares in tlph
So a successful spin-off
Yup,
He is also the CEO of teliphone ( TLPH)
the old CEO of uama is the technology officer for nytex
And I think is the real brain. Would not put it past him to have
Been the guy to write the software behind nytex.
Trevor , I think is more a business kind of guy. A good CEO.
Uama spun off telephone some time back and I think still hold a lot of the shares
It's all happy families here. They will be merging into one of their own shells
Welcome to the UAMA board. I looked at the rainmaker board a few days back
I think uama meets your criteria.
Let it rain......
Nice close .032 eom
Hi Timmage, welcome to the board
I had a quick look on the Rainmaker board, i noticed the 'stages' in the ibox, which i guess is why you are here.
Stage 2: This would be filing a 15-12g
Still very weak, might be nothing more than someone who couldn't afford their auditor anymore, unless coupled with a name change. Or somebody who just wanted out of the expenses of being fully reporting.
Why is the 15-12g significant ? (name change to NYTEX is on the cards)
UAMA hasn't filed anything since 2009 anyway, so i don't see why they need this. This isn't a merger, as NYTEX is already run by the same people as UAMA. it's just been very quiet...
They did restate the AS which is 200 Mill (OS is just over 50 Mill).
Just noticed the ask...
0.266. If that hits on Monday it's over 1000%. I don't think the MMs knew
Why it suddenly started trading. So put the ask up to kill any trades.
Good reason why you should never execute a Market price buy/ sell.
Always use limits on these stocks
A question...
I am trying to work out how much is been traded on the NYTEX exchange.
The volume figure is a little confusing. It is displayed as 2 numbers separated by a colon
Eg 143,654:56. My first thought was that the second number was the number of trades and the first was the
Total volume. However the second number jumps about, so not really sure what that means
The first number as a straight volume also does not make sense. Adding up all the volumes and multiplying up by 365 day as an approximation gives only 1 hundred million mins. The fee must be a fraction of 1% giving a total yearly revenue of about 10,000 dollars. Obviously wrong
Anyone able to help me out here
Charting techniques do not really work in these kind of stocks, UAMA has had so little volume over the past few years the share price is effecivly meaningless, as are the historic swings
a 1000 share purchase could shift the price 50% (about $20 worth of shares).....
The entire OS is valued at about $600,000 (again a meaningless figure)
a startup the size of Nytex should be around $10 million assuming its profitable (which is by no means a certainty) + the part ownership in teliphone etc.
For a swing to be meaningful it must be accompanied by volume (like today). There has been a small pickup in volume over the last couple of months... but todays was the first meaningful shift in a long long time.
The filing... i couldn't quite understand, but it did confirm one thing. and that is the NYTEX thing is real, and not a misunderstanding.
You mentioned the 10k.... i couldn't find that... do you have a link ? If not, hopefully that will follow soon.
Its Started.. Next week should be very good... especally if we get some news on the financials.