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Good call
It certainly is one rotten apple. I wouldn't hold anything long in the pennies at the moment. They are squealing on the REER board today after that one got a H10 halt this morning. SEC are clamping down hard and it's not worth the risk.
Some have the CE hanging their heads for a while and trading continues, usually in a downward direction. Basically it is saying that the Company is under scrutiny. A trading halt H10 could follow quickly, I certainly would not be holding this at market close today.
Good catch, this will dive bigtime today. Nobody wants to be holding onto this overnight. Another 8 H10 halts on OTC companies handed out this morning on top of the 9 H10's yesterday. They are really hammering these scams now.
Looks like the 1 day pump is finished?? Watch out below since this is going down.
Three restaurants selling $8.99 burgers. Company value $72million!!!!!!!???????
The touts are out in full force now!!!! There will be quite a few heading to the confession box tonight??
Yes restaurant chains are popping up all over the place and it's at tough business to try and get your name out there.
When a Company has to turn to the stock touts to promote their share price it tends to give you an idea what they're really in business for. It's like the Mafia running a laundrymat business, it's just a front to dodgy dealings????
No mention of the 4-1 split of the shares that takes place in August 2014. You can guarentee that once those shares split so will the share price.
There is absolutely no incentive to buy Grillit shares now, as you dont qualify for the split when it occurs. That was a done deal earlier this year and is closed.
And before someone mentions it the split has already taken place however due to the restrictions the new shares were not allowed to start trading for a period of 1 year.
It's an update from pumpsanddumps.com. The 2nd paragraph onward is their write-up from the previous P&D of Grillit.
I know the previous 4-1 split left some very unhappy investors due to the restrictions on the shares once they become available to trade.
I'd certainly stay well away from this although unlike some P&D's it is a legitimate business but way overvalued.
I fully agree with what you are saying, however I wasn't linking Tim Sykes to this particular POS I was just making comment from an earlier thread that individuals pumping and shorting stocks don't move market price unless there is very small volume up for grabs. In a liquid market it takes either insiders biting the hands off on every bid or an orchestrated short sell from a number of people to move it.
Can you please tell me how someone who was in at a "higher price" be "selling to recoup their losses" I think you mean cut their losses??? Because I would love to know a formula that allows me to get my money back after the share price has dropped??
The repetitive pumping of stocks (3rd time in 6 months for TPNI) is killing the golden goose (Newbies). Look at the 6 month chart, it resembles the 90 metre jump at the Winter Olympics, how many people have lost money on this garbage in that period. And you ask why people don't buy it????
No bids for this, gonna dump soon!!
Yes Mr Sykes and his followers are more than capable in making a collective effort to manipulate the price, usually by shorting but he also promotes occassionally.
Certainly on the major markets all insider trading of stock has to be monitored and documented. The OTC markets are not playing to the same set of rules so I don't know the answer to your question.
With MDDD yesterday the insiders are playing into the shorters hands as they were selling at any bid price due the the profits they have already vested from when they paid .015 cents per share. MDDD is a shorters dream come true.
However shorters take huge gambles (there is no limit on how much money you can lose) so they have the same right to bash a stock as the people pumping the stock for their own gain?
Always remember these things don't run or crash based on what individuals have to say on these chat forums, there are more evil people dictating the direction that these scams go.
What happened, did he pull up lame?
I have never shorted a stock in my 34 years of investing. However saying that shorters are "worse" than the insiders promoting these scams and are making a 7000% profit is pathetic.
The insiders are the people who are selling into the market, remember the only people that owned shares in this cr-ap at the start of November were insiders, so ask yourself who's selling duh!!
Nine H10 trading halts handed down on OTC Companies today. The SEC is really looking into these scams at the moment.
MDDD not one of them "YET"
Just received a follow-up promo letter from the Bedford Report at 7:30 AM, looks like they haven't deserted it yet. Then again they are being paid $50K to promote it for a month, which is akin to blood money for Pump&Dumping this POS.
There just doesn't seem to be much appetite for these promo's at the moment but then again when the insiders paid .0015 cents per share they are still laughing all the way to the Cayman Islands.
Yes I was spot on with my prediction that this would go nowhere. This pathetic P&D campaign is in it's death spiral.
I've been knocking this POS for the past 36 hours but even I didn't think it would hit the skids so quickly.
Oh well for the Newbies, welcome to Pennyland where scams are common place and conmen are plentiful.
For those insiders that purchased their stock for .0015 cents each, they are making a massive killing still and wont care how much it goes down to.
haven't seen Mr Sykes on any OTC ticker that I've been following in a long time. Maybe he keeps his head down now and lets his disciples do the work for him?
I agree you need to read the tea leaves correctly, when shorting, as the loss potential is huge.
How is TPNI cheap? It reported just over half a million, in net revenue, last quarter. It had $250,000 cash in hand, yet is valued at over $15 million.
And by the way an Osterich has "large wings" but it doesn't mean it will fly high!!
I am not, nor have I ever been, a "shorter", however from my experience in penny stock world over the last 4 years I see more upside for shorting than going long.
I have been invested in the market for 34 years now, so I'm getting close to retirement and when I get that extra time on my hands, as you need in penny world, I think shorting on the OTC looks like a profitable strategy.
3rd pump&dump for this since June and if you look at the 6 month graph the only thing it has generated is bagholders????
Page 17 of latest financial statement for this $65 million valued Company lol.
We have no revenues and have incurred losses.
We currently have no revenues and we anticipate that our existing cash and cash equivalents will not be sufficient to fund our longer term business needs and we will need to generate significant revenue or receive additional investment to continue operations. Based on our current business plan, we anticipate that we will continue to incur losses through the year ending December 2013.
Our auditors have expressed uncertainty as to our ability to continue as a going concern.
Primarily as a result of our recurring losses and our lack of liquidity, we received a report from our independent auditors that includes an explanatory paragraph describing the substantial uncertainty as to our ability to continue as a going concern as of our fiscal year ended June 30, 2012.
If we fail to raise additional capital, our ability to implement our business model and strategy could be compromised.
We have limited capital resources and operations. To date, our operations have been funded entirely from the proceeds from limited revenues, equity and debt financings. The Company currently does not have adequate capital or revenue to meet its current or projected operating expenses. We anticipate needing substantial additional capital in the near future to develop and market new products, services and technologies. We currently do not have commitments for financing to meet our longer term expected needs and we may not be able to obtain additional financing on terms acceptable to us, or at all. Even if we obtain financing for our near term operations and product development, we expect that we will require additional capital beyond the near term. If we are unable to raise capital when needed, our business, financial condition and results of operations would be materially adversely affected, and we could be forced to reduce or discontinue our operations. Debt financing, if obtained, may involve agreements that include covenants limiting or restricting our ability to take specific actions, such as incurring additional debt and could increase our expenses, and would be required to be repaid regardless of its operating results. Moreover, we may issue equity securities in connection with such debt financing. Equity financing, even if obtained, could result in ownership and economic dilution to our existing stockholders and/or require us to grant certain rights and preferences to new investors. In addition, we may seek additional capital due to favorable market conditions or strategic considerations even if we believe we have sufficient funds for our current operations.
Just stating the fact. This Company is in the grip of fraudsters who have been banned from trading in the past. They have "created" 20 million shares at a price of $30K or approx .0015 cents per share at the start of November and those same shares are valued at $1.07 today.
Any mugs that they can get to buy this garbage at a cent or better is just a massive profit. They wont mind biting peoples hands off at 10 cents a share so this is why this is heading South very quickly.
That is of course if the SEC don't step in and close it?????
I fail to see how a doubling of the quarterly loss is going to make this POS fly today??
Reading the quarterly report insiders seem to be lining their pockets with bonuses and increasing spending on meals and other money grabbing perks.
This should not go anywhere to fast, due to a culture of greed.
SEC ups efforts to combat manipulations of ‘microcap’ stocks
The Securities and Exchange Commission is redoubling its effort to combat the manipulation of “microcap” stocks, opening about half a dozen investigations each month into schemes suspected of bilking mom-and-pop investors, agency officials said.
As the SEC describes it, the term microcaps typically refers to the low-priced shares offered by the smallest of public companies, the ones that do not qualify to be listed on the large national exchanges, often because their stock is too thinly traded or too cheap.
Instead, microcaps are bought and sold in the less regulated “over-the-counter” market, sometimes for less than a penny per share, without much information for investors to examine. All these factors make microcaps more susceptible to fraud, which is why the SEC is intensifying its enforcement efforts in that arena.
With a new chairman at its helm, and new chiefs leading the enforcement division, the agency created a 26-person task force in July devoted to rooting out microcap trading abuses. Since then, the agency has opened five or six microcap investigations a month, well above the previous year’s pace, agency officials said. The initiative builds on the efforts of a loosely-knit SEC working group created three years ago.
“For years, we did a number of these cases, but we didn’t attack it with a systematic approach,” said Andrew Ceresney, co-director of the SEC’s enforcement division. “We now have people focused on the area full-time for the first time, and by marshalling their expertise, we think we can make a difference.”
The classic microcap scams involve efforts to hype the value of a company’s stock by spreading false or misleading information via spam, online chat groups or even paid promoters. In July, the SEC accused two such promoters, Cort Poyner and Mohammad Dolah, of paying kickbacks to individuals who agreed to sell and purchase shares in two microcap firms, thereby boosting the firms’ stock volume and prices.
This type of illegal activity, if left unchecked, can lead to “pump and dump” schemes that profit company insiders or others who take part in the fraud, and hurt unsuspecting retail investors. As soon as the price moves up, these insiders dump the shares they bought on the cheap and walk off with the difference.
Attorneys representing Dolah and Poyner declined to comment.
The fraud can take shape in many forms, including arrangements that allow the stock’s issuers to say they’re raising money for one purpose when they actually intend to use it for another. In August, for instance, the SEC accused the chief executive of a Florida software company of hiring “boiler rooms” in Europe to raise money for his firm.
Through this scheme, John G. Rizzo attracted $2.5 million from 120 investors in Britain, the SEC said. He then allegedly used the money to pay commissions to the boiler room workers, and cover his personal expenses.
Rizzo’s attorney, Steven Goldsobel, could not be reached for comment.
This week the agency continued its push when it charged Curt Kramer and his firms with buying billions of shares in two microcap firms and then failing to register them before reselling them to investors. Kramer, who did not admit wrongdoing, agreed to pay $1.4 million to cover the illicit profits he made as well as penalties.
The arrangement between Kramer and one of the companies allegedly enabled him to buy shares of that company at fire sale prices when the company was in need of money for its operations. Kramer would then unload the shares for profit, the SEC said.
The agency said that going forward it will focus on repeat offenders, who account for a substantial amount of the fraud. It also is aggressively moving to suspend trading when it has reason to suspect misconduct. The agency has issued 90 trading suspensions so far this year, up 35 percent from the same period a year earlier. Most of the suspensions involved microcaps.
But making a dent in this corner of the market will be challenging, legal experts said.
“The problem with policing fraudulent microcaps is that they are like mushrooms,” said Adam C. Pritchard, a professor at the University of Michigan Law School. “They keep popping up no matter how many you shut down.”
MDDD kicked off its brand spanking new Pump&Dump campaign today by moving pretty much sideways all day on 5.4 million shares. Trading ended biased to the negative side with 53% overpays* and a collective street loss just over 19 grand. What should be a concern to all is that this still brand new ticker went pretty much nowhere on decent volume. You have to remember that just 30 days ago, every single share of stock was owned by insiders Ruffell, Lummis and Khan, all whom own restricted shares; former President, Nir Eliyahu, who owns 9,000,000 presumably unrestricted shares, the original 30 shareholders, who own 20,000,000 shares that they bought for $.0015625 per share and the 1,000,000 free trading shares owned by a mysterious investor. In other words, not a single share was owned by the street on November 1st. So how is it that the stock doesn't move on 5 million shares of buying? There can only be three answers: (a) the sellers made a concerted effort not to allow the stock to run off; (b) the volume was mostly a series of wash trades, conducted to feign interest in the stock; or, (c) a combination of (a) and (b). Which one of these three scenarios make you most comfortable? We figure that the street put about $2 million in the pockets of the perpetrators of the Pump & Dump today. Everybody, but everybody, is watching for the probable trading halt, a reasonable expectation considering the SEC's newfound revelation of its purpose.
Hopefully you sold it again this morning, amazed it got as high as it did? Could have recouped 80% of the halt price, not often that happens.
When I ventured into pennyland I had a couple of big winners and then followed up with a couple of big losers. After my 2nd big loser I got the hang of what it was all about.
The one thing you need to play the OTC market is plenty of time on your hands, as it is very much a daytraders market. I am hoping to retire in 5 years and maybe get much more involved than my work commitments allow me to get involved at the moment. I still enjoy the crack on the boards and maybe some day, when I'm a more active buyer with time on my hands, will be jumping out of my negative camp lol.
But then again this seems to be a style of trading where the shorters could do very well. Never done it before but it certainly is a type of trading I wouldn't mind exploring.
It is an impossible decision to make, however when you read these types of comments below you have to ask yourself is the Company safe from a trading halt?
MDDD was begat from the shell known as Advanced Cellular Inc. (ADDU), created through an August, 27, 2010 S-1 filing by Attorney William O'Neal. It is noteworthy that in 2006, O'Neal was banned by the SEC for writing fraudulent opinion letters in order to remove the legends from restricted stock, as well as for illegally selling restricted stock into the market.
20,000,000 original shares were sold through the S-1 for a total of $31,250, or 0.0015625 per share. As of this writing, those shares have appreciated by 64,000% and will be the shares the public is buying during the Pump & Dump campaign.
As of August 31, 2013, and according to the Form 8-K filed with respect to the acquisition of Umicron, the company's finances were not encouraging:
• cash: $6,782
• total assets: $19,667
• total liabilities: $1,250
• no revenue since inception
• net loss since inception: $132 thousand
Not really an appetizing set of paragraphs to want to get to heavily invested in, wouldn't you agree? Certainly doesn't justify a $65 million price tag?
Now this is where I draw the line on these P&D's. Rediculous statements on about 400 - 500% gains. YAWN!!!!
I will give some credit where it is due. I got the newsletters for this from Five Star Equities and The Bedford Report. With their picks, whilst not usually massive gains, they tend not to be massive daily drops so there is usually enough chances to get out without losing to much.
You must be living in a glass house if you think everybody makes money in a P&D. If you are making money it is off the back of some unsuspecting sucker who hasn't got a clue as to what he's letting himself in for. This will eventually end up in the hands of the bagholders as with all P&D's.
Well you obviously have P&D.com posting to you, since you were quick to point out my posting 2 minutes after I received it in my inbox.
A number of daytraders use various tools to make money on garbage stocks and P&D.com can be a tool to a more experienced garbage stock player.
But referring to people as pea brains for believing the crap being written by the promoters of these scams is a little harsh. If everybody started off as an expert, like you seem to be saying then there wouldn't be an OTC market as nobody would risk playing such a corrupt market.
Yes you are correct and they are correct everytime. 4 stocks that P&D.com have trashed in the last month have been halted by the SEC. And numerous investers lost big money by not heeding their advice.