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Yup. LOLOL /eom/
If a company has up-to-date financials filed w/ the SEC, their stock could be quoted as an unsolicited pinkie shortly after an SEC suspension. Since CKYS is a non-reporting pinkie, they'll definitely come back as a grey. To return on the pinks, they have to go thru the approval process again. This means a broker has to comply w/ Rule 15c2-11 and file a Form 211 to NASD's OTC Compliance Unit for approval. The process can take quite awhile like in months or years. It's pretty slow.
When a company releases a series of positive PRs and its stock's price acts sluggish or drops, it's usually because the market doesn't believe the news, someone is shorting, or someone is dumping stock into the float. For this one, I think all three apply. Earlier today the price recovered some probably because the mad dumper let up a bit.
Here are some good initial questions to think about:
-- Why is this stock trading daily in the millions when the o/s should have been no higher than 75,000 after the 1:2000 r/s last month?
-- Why did someone hire a bunch of slimy paid pumpers like Lebed?
-- How can a small British company, incorporated two weeks ago, form all these impressive business relationships? How much of the info is really true?
-- Who is Helga? For someone supposedly rubbing elbows w/ large corporations and government entities, she and CO2 Tech have zero media presence outside their own PRs.
-- Why is their headquarters located in a Mailbox Etc address in London?
Why do you think Mr Market keeps giving this stock a hair cut? Once you figure it out, then you can decide whether the odds are in your favor to buy right now.
It depends on whether NASD's OTC Compliance Unit believes the company provided accurate information to the MM. If any info looks questionable, they won't approve the Form 211.
Financials actually don't need to be audited. Since the suspension pointed to this particular area, NASD may want them audited by a PCOAB-registered firm. They can be pretty expensive.
This was a suspension not a halt. I've watched (not been in) at least a hundred of these over the years.
Suspension decisions are made at the Commissioners' level -- the very top. Like other government bureaucracies, the SEC moves very slow. Someone spent a lot of time gathering information and convincing seniors trading should be suspended. There's no incentive to fast-track contrary info up the same chain on a little pinkie so soon afterwards that would make him and others look bad internally.
Companies raise their a/s when they want to issue stock above the previous a/s. For solid proof, just ask the T/A for the current o/s. If the TA here is gagged, that's a huge red flag there's been heavy dilution.
Ask your broker to cite one example where they did. Bet he can't.
No, I've never seen them lift a suspension early. /eom/
Um, falling into the greys sucks. Raising the a/s in Jan 06 and again in Dec 06 shows he was diluting.
Amazing how they went from $500K annual sales to receiving a $25M purchase order peddling products which aren't unique. lol
Company Name
Legal Name CyberKey Corporation
Legal Structure On July 5, 2005, Jim Plant, CEO, reported that CyberKey Corporation started in 2001 and operates as a corporation. A check with the UTSecretary of State on July 6, 2005 revealed that no corporate charter or foreign corporate registration exists for CyberKey Corporation.
Tradestyle Name 1
Tradestyle Name 2
Tradestyle Name 3
Organization Information
Phone Number of Business 435.688.9666
Executive Name Jim Plant
Executive Title CEO
Primary SIC code 57340100
Description of Operations Ret computer periphials
Socioeconomic Data
Number of Employees(includes owners, partners, and/or officers)
Annual Sales or Revenue 500000
Physical Address
Street 1071 E 100 S Ste D1
City ST GEORGE
State/Region UT
ZIP/Postal Code 84770
Country UNITED STATES OF AMERICA
http://fedgov.dnb.com/webform/errorAction.do
Lots of hyped pinkies have made the same claim and never achieved it. In 1.5 years, Terrell hasn't been able to get PYPR into full pinkie status yet. That's far easier than a Nasdaq listing.
It's possible he could go the reverse merger route into an already listed stock. If PYPR moves up, I think shorters will be drooling.
Are we missing something....?
Yup, how to play.
This isn't a blue-chip stock. Unsolicited pinkies are dangerous to hold long-term. Skilled penny players learn to wait and trade during pump phases. During retrace/lull periods, they sit on the sidelines or play other stocks.
You may luck out and be in on PYPR's next run if one ever happens. Odds are pretty high the next peak won't reach many holders' buy-in price.
Investor Assistance and Complaints: (202) 551-6551
The activity you're complaining about is from other investors not MMs. PYPR trades as an unsolicited pinkie which means matched trades only. Since MMs cannot take long or short positions in their own accounts on this one, the price can easily drop on extremly low volume like it has been doing.
Of course, TDA's buying restriction doesn't help.
I disagree. When someone files a whois complaint, GoDaddy would send a notice to the customer and give him time to update the info. If it's not done, they could pull the registration. The whois database shows they didn't do this.
GoDaddy doesn't host ariusinvest's server. So, the only way they can shut the site down is by pulling the domain's registration which didn't happen.
Figure out who benefited from that, and we might be a little closer to who we're dealing with.
Um, Mendelson. These two domains list the same phone number which happens to be his:
http://whois.domaintools.com/ariusinvest.com
http://whois.domaintools.com/Ourprivacycard.com
Here's another site: http://www.betzilla.co.uk
Scroll to the bottom and you'll see a link to ariusinvest.com and offshorexplorer.com:
http://72.14.209.104/search?q=cache:r6c0g_IhlhIJ:betzilla.co.uk/register.asp+&hl=en&gl=us&am...
Is the guy's first name Ron?
The United States Securities and Exchange Commission ("SEC") announced that they had filed a civil action in the United States District Court in Dallas, Texas to stop an alleged fraudulent Internet pyramid scheme. Disguised as an Internet investment club, Le Club Privé ("LCP"), and its affiliated persons and entities, perpetrated a $5.6 million unregistered offering fraud against more than 2,000 U.S. investors.
http://www.sec.gov/litigation/litreleases/lr16665.htm
Cartago raid sought details of pyramid scheme
By the A.M. Costa Rica staff
http://www.amcostarica.com/042202.htm
Think of it more as protecting themselves. If protecting customers was really the goal, brokers would offer discount services only to professional traders. Everyone else would be charged a much higher rate, provided individual investing advice, and steered clear of most OTC stocks.
I'm not saying TDA is making the right call in all cases. They're more aggressive than other brokers in restricting trading. Open short positions was definitely not a determining factor for their decision to restrict trading on PYPR.
I don't know the specific criteria they use. It appears tied to suspicious/unexplained price rises and death sentences. Last week for example, TDA placed an AMEX stock on their restriction list after it rose less than 20%.
As for SLJB, that one has been on a decline for months now and hasn't been given a death sentence yet. I think TDA didn't restrict buying on CMKX until after the SEC filed to revoke its registration.
TDA places stocks on their restricted list whenever they believe there's unusual trading or possible manipulation. Not sure why they're more aggressive than other brokers in doing this.
TDA and several other online brokers have been attacked (and will continue to be targeted) by hacker rings breaking into customer accounts to drive up selected stock prices. Shady companies have done the same thing by setting up several nominee accounts. By pumping up the trading volume from different accounts, it gives the illusion of increased interest when there's little to none.
Domain was registered just a few months ago.
Registrant:
Arius Investments S.A.
Oficentro Ejecutivo
La Sabana
San Jose, SJO 00000
Costa Rica
Registered through: GoDaddy.com, Inc. (http://www.godaddy.com)
Domain Name: ARIUSINVEST.COM
Created on: 01-Oct-06
Expires on: 01-Oct-08
Last Updated on:
Administrative Contact:
Investments, Arius
Arius Investments S.A.
Oficentro Ejecutivo
La Sabana
San Jose, SJO 00000
Costa Rica
0000000 Fax --
Technical Contact:
Investments, Arius
Arius Investments S.A.
Oficentro Ejecutivo
La Sabana
San Jose, SJO 00000
Costa Rica
0000000 Fax --
Domain servers in listed order:
NS1.ARIUSINVEST.COM
NS2.ARIUSINVEST.COM
http://whois.domaintools.com/ariusinvest.com
It won't. /eom/
Here's more weirdness...
The projector people were offering Cynalynx (aka WiJet.e) for sale on their site. Sometime between 26 Nov 06 and today, this product was removed.
Previous URL:
http://www.projectorpeople.com/screens/accsdtls.asp?itemid=21229&itmname=Pegasus+Wireless+WiJET....
26 Nov cached page:
http://209.85.165.104/search?q=cache:XMFd2pG1na0J:www.projectorpeople.com/screens/accsdtls.asp%3Fite...
These guys are still offering other PGSW WiJets, but the cutting edge one mysteriously disappeared.
http://www.projectorpeople.com/accessories/wireless-adapters.asp
It's not a slap in Mr Market's face. Short interest is negligble here. Let's pretend it's extremely huge. Shorts don't have to cover for this type of divvy.
Not following the rules eventually attracts regulator attention. Give it some time. Watch and see.
No it's not normal. Public companies normally notify NASD and use the system to distribute divvies. You assume a real risk in becoming a victim of identify theft when handing over personal info this way.
As for site security, your browser will show a small lock or similar indicator if there's a secure connection between your PC and the server. Without this, any data transmitted can easily be stolen by third-party sniffers. Once on the server, the data's security depends entirely on their employees and IT folks.
Cool keyboard. lol /eom/
Too funny. /eom/
Are you guys sure PGSW is operating in that building now? Your photos show their logo, but could they be other occupants?
According to CA's corp database, their HQs has been using a Palm Beach mailbox since at least July 2006. Mapquest shows it's located about 1.79 miles from Durland's address. Doesn't make sense to use a mailbox now for a HQ's address when that building is pretty nice.
277 ROYAL POINCIANA WAY
SUITE 153
PALM BEACH FL 33480
RSVP Pack & Ship
http://www.rsvppackandship.com/
Corporation
PEGASUS WIRELESS CORP.
Number: C2887475 Date Filed: 7/5/2006 Status: active
Jurisdiction: NEVADA
Address
277 ROYAL POINCIANA WAY STE 153
PALM BEACH, FL 33480
Agent for Service of Process
CORPORATE CREAT IONS NETWORK IN C.
131-A STONEY CIRCLE, SUITE 500
SANTA ROSA, CA 95401
http://kepler.ss.ca.gov/corpdata/ShowAllList?QueryCorpNumber=C2887475
Reporting is not a requirement for all companies. If this is incorrect then someone please point me to the appropriate SEC text.
Companies which do not have their stock registered w/ the SEC and fall below asset/shareholder threshold levels are not required to file periodic financials w/ the SEC. If they elect to voluntarily register, they assume a reporting obligation. Since MCCI's stock is registered, they have this obligation. Ref: 33/34 Securities Act w/ accompanying rules.
====
As far as the zero sum game, and short of opening a big debate, not everything is zero sum game and specifically in the markets. For example, new technologies bring new opportunities for growth in new markets and the sum is not zero.
On the other end if or when this is a zero sum game, I would have to ask if and how one has an interest in stocks and make money in the markets then?
Zero sum refers to the money exchanging hands. If this wasn't the case, stock prices would never go down.
Before going public, a company often sells securities in private placements. Since the money raised is outside the market, this would be in the loss column of the game. When the company IPOs and initial investors sell their stock, incoming buyers' money would go into the gain column offseting the previous loss. As the stock trades back and forth, some investors win (gain column) while others lose (loss column). People will move profits out of the market or over to other stocks (loss column).
====
Anyway and specifically on MCCI long term, there are opportunities for this company with using the advances in Lipospray in general and the use of suntheanine that they are now focusing on. The demographics is encouraging. Time will tell for investors and in the meantime, trading opportunities exist for any stock including this one.
Very tough for a smallcap to succeed w/o good management. IMO any trading opportunities here will be based on hype not business success.
Still blaming the NSS boogeyman huh?
Short Interest for December 2006
Short Interest 159,891
Percent Change Average Daily (93.57)
Share Volume 272,645
Days to Cover 1.00
http://www.otcbb.com/asp/OTCE_Short_Interest_popup.asp?Symbol=pgsw&StlmtDt=12/15/2006
Sure, many pinkies don't file. Companies which have registered their stock w/ the SEC though like this one assume a reporting obligation. Even after falling into the pinks, they still have this responsibility. The SEC can start revocation proceedings anytime on a delinquent filer to halt trading.
Most good trading opportunities in pinkies are created by someone hyping/touting. For every winner, someone else will lose. It's a zero sum game.
Um, what additional six shares? The daily lists don't reflect CSHD as issuing any divvy or split.
A company which wants to do something like this must notify NASD ahead of time. They in turn assign an ex-dividend date. Without this date, the entire system has no clue which longs are owed a divvy and shorters have no obligation to cover.
The company pays the stock divvy to the last buyer in the chain of borrowing/shorting transactions. Anyone short as of the ex-dividend date owes the divvy to the original owner whose shares were borrowed. A shorter can cover this by buying or shorting the other stock otherwise his broker will charge his account for the amount.
Crappy pennies like to issue stock divvies in private entities. These securities have no market value. So, a shorter's cost in this case is zero.
Maybe the SEC will move to revoke MCCI's registration in 2007. Since this company hasn't filed annual or quarterly reports in two years, it's a good candidate.
OT: USXP's lawsuit wasn't even about naked shorting. Altomare attached the term a couple months after receiving the second judgment in late 2003. Prior to Sep 2004, he doesn't mention NSS in his SEC filings w/ respect to the case. Here's a summary of what the complaint was actually about: http://verdictsearch.com/news/specials/0204verdicts_universal.jsp Taiger and South Beach were also sued for fraud, conversion, and failure to honor funding commitments not naked shorting.
IMO this was good to post because USXP's CEO was one of the early pioneers who helped kick off the irrational NSS mania many penny players blindly embrace up through today. He got involved w/ some bad guys who allegedly drove the stock's price down but not thru naked shorting.
As for PYPR, the short interest and SHO list clearly indicate naked shorting is not an issue here. At best, the total amount is very tiny.
Yup, it's pretty weird.
The court docket shows they filed writ of garishment against these guys:
BUCHWALD JEWELERS INC
DOUGLAS B. ZEMSKY AKA DOUG ZEMSKY
TBECK CAPITAL, INC.
CARE CONCEPTS, INC.
D.C. CAPITAL GROUP, INC.
IBSG INTERNATIONAL, INC.
GEORGE P MAFFEI,ESQ.
They went after the first outfit in 2001 but voluntarily dimissed it in 2002. They went after the other six in 2004. I can't tell what happened to those. The last docket entry was 4 Feb 2005. I don't know how these guys fit into the lawsuit. Apparently, the plan was to go after other parties who were not listed as defendants.
Back in 1998, Universal Express and Packaging Plus filed a lawsuit against: Select Capital Advisors, Ronald Williams, Walter Kolker, Sheldon Taiger, and South Beach Financial.
In 2001, the judge issued a default judgment against the first three defendants because they didn't conduct discovery or put on any defense. They had no attorneys and represented themselves pro se. The jury trial was only to decide the issue of damages to award not whether these guys were guilty. Taiger and South Beach were represented by an attorney at this time.
Somewhere along the way, the latter two seem to have lost their attorney. In 2003, the judge issued a default judgment against South Beach Financial. The second jury trial was to decide the issues of liability and damages against Taiger and damages only against South Beach Financial.
Jim, I'm not familiar w/ DIGG. Looks like it previously traded on the OTCBB and was kicked off in Nov 1999 when they didn't comply w/ the new reporting rules. So, DIGG should have been a regular pinkie not an unsolicited pinkie. An SEC suspension makes sense because it stopped MMs from making a market in that stock.
IMO the issue is what type of pinkie not the registration status.
No, it isn't. The SEC cannot revoke a registration that does not exist. To stop trading on non-reporters, they need to drag the company into court and gain a favorable ruling or persuade insiders to settle. This can take many years.
I doubt the SEC will impose a 10-day suspension on SLJB. IMO their primary reason for using this tool is to stop MMs from making a market in a security w/ warning the public being a far distant second. Since SLJB is an unsolicited pinkie, MMs shouldn't be making a market there. Also, Canadian regulators are already moving to stop trading.