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I get a lawnchair next to the keg..... as long as there are no mosquitos out I'll be fine....LOL!
I am not restricted at Scottrade,
however no forward-split shares are showing yet in my real-time positions, only in gainskeeper.
I'm guessing about 100k shares short.
100,000 x 3,000,000 = 300 Billion shares short
That 19.5 Billion traded that Monday must have been some covering.
So it's 280 to 285 Billion short.
What if the company has already lined up on the ask at .0001 for 285 Billion shares to cover the MM's short?. Is it first come first serve when we place our sells?
We could already be Fucked!
That statement scares me, <<<those that have not recieved the shares will get them if they were not SHORT!" >>>
I hope he does'nt mean if NITE shorted me I wont get the shares.
That can not be right...... They must be insinuating that there is a short position in the stock.
Interwest Update:
Kurt, " Said the shares have been authorized and are being issued over the next 24 to 48 hrs. those that have not recieved the shares will get them if they were not SHORT!"
stock_rancher, " Does this mean there will be covering of the shares and there will be a market to sell these shares prior to the reverse split?"
Kurt, "That is a broker function and I can not answer that"
stock_rancher, " I'm glad I'm getting my split-shares, however, is the company going to issue a press release saying it's OK to trade now?"
Kurt, "I have no idea"
stock_rancher, " I would hate to have the market not allow trading and I get reversed out"
Kurt, "Yes, there is a reverse split coming"
stock_rancher, " I know the company has said the insider sold 135k shares prior to the forward split, however there was far more than that amount traded. I know for a fact that NITE was on the other side of my trade, could they be short?"
Kurt, "I have no idea, that is a broker function"
stock_rancher, "Thank You for your time."
Kurt, "Have a nice day"
CLICK!
Anyone have Interwests phone #?
TIA
NNGY +28% eom.
Nothing from Scottrade..... same pre-split shares showing.
An interesting note, my Gainskeeper Portfolio is now showing post-split shares.
Scottrade is doing the nightly batch processing, sould be up in 20 min's. Speaking of nightly processing, NITE is the MM on the other side of my trade........ I would love to know if they shorted me the GVRP.
Tender offer is the cheapest way for the short to cover. If the shares I own need to be covered, who's to say I wont hold out for .005 or higher?
Scottrade will only allow me to sell at a minnimum of .0001 and do not allow market orders on OTC's.
According to the reg's, the market has put in place a minnimum bid of .0001. Ask your broker, they will tell you this as fact. A few years back the minnimum bid was waaayyy down there.
Waiting on the SEC to tell the DTC what to do..... per Scottrade eom.
Mr. Bill,
I believe the tender offer is about to go down in the open market. The way the PR reads, "sell within 2 weeks or loose it all in the r/s". We are getting our shares and will be able to sell @ a minnimum of .0001. If that's the case, I could care less about who profited from where........ including the insider. We all get our cash and are liquidated from GVRP and Media Magic continues as a company. If I get my shares and settle at .0001, I win! Let the experts hash out the rest.
Good night All!
I'm going to send the SEC this:
By: stock_rancher
NNGY: Raging Bull
22 Jun 2005, 01:40 AM EDT
Msg. 4333 of 4333
(This msg. is a reply to 4331 by doug12343.)
Jump to msg. #
$2, that's the word. They have cleared the fools, time to take out the filppers. $8 to $14 in the Santa Clause rally! There will be fully reporting status with product distribution. Quote me on this, Nanergy Inc is heading to the NASD NM! There is a earth shaking spike in the works. If this takes off with the fund mgr's we are looking $60+. I am selling my boat, truck, lawn mower, and thowing a garage sale to buy all the NNGY I can. I may even open a lemonaide stand if it means more shares! Just wait until I tell the street about this! If you are here with stock, welcome to the road show!
Settle my GVRP so I can buy more NNGY!!!!!!
Holly $hit!!!
Is it safe to say you have the first round at The Golden Lists
Convention?
Do this with your next pick and you will make Rolling Stone mag!
"WHAT???????? did you just say Pat??? heheheh BONG please!! Bob, got a light??"
Tasty waves, a cool buzz, and I'm fine!
Where is The Golden Lists convention this year?
Press Release Source: Gluv Corp.
Gluv Corp. n/k/a/ Media Magic, Inc. Announces Restructuring Plan to Remedy the Liquidity Problem in the Public Market for its Common Stock
Tuesday June 21, 4:27 pm ET
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--June 21, 2005--Gluv Corp. (Pink Sheets:GVRP - News) announced today that its shareholders had adopted a corporate restructuring plan that would inject more than 414 billion shares of common stock into the market on a short term basis, thereby permitting the settlement of the trading in billions of its shares that took place while only 33 million shares of its common stock were actually outstanding.
On May 3, 2005, the company declared a dividend of 2,999,999 shares of its common stock payable on May 20, 2005 with respect to each of the 11 shares of its common stock that were outstanding on May 13, 2005. Although the completion of that dividend resulted in a total of 33 million shares outstanding, the sale of approximately 138,000 shares in the market on or shortly after the May 13 record date of the stock dividend, resulted in significant confusion among various brokerage firms and their customers as to whether a 3,000,000 share stock dividend was attached to each of those 138,000 shares as a "due bill" requiring the delivery of more than 418 billion shares on the May 20 payment date of the stock dividend. The company immediately undertook to publicly alert the market about its concerns regarding the excessive number of shares being traded in the market by issuing a press release on May 22, 2005. The company further notified certain securities firms and market makers trading the company's stock of its concerns prior to the market's opening on May 23, 2005. When those efforts failed to prevent the massive trading that continued to take place in the market, the company asked the NASD to help it to straighten out the confusion that had arisen with regard to the correct number of shares that were supposed to be outstanding, and it alerted the SEC with regard to the situation. After a series of communications between the company and each of the SEC and the NASD, and also between the SEC and the NASD, the SEC issued an order halting trading in the company's common stock on May 27, 2005. That trading halt ended at 11:59 PM on June 10, 2005.
Since the trading halt came to an end, the company has been working to fashion a solution that would, at the same time, inject into the market on a short term basis the billions of shares that the parties who bought and sold the company's shares mistakenly believed would be available to them for settlement of their trades, and eliminate all confusion about the number of shares that the company actually has outstanding.
In order to accomplish those goals, the company asked for, and received permission from, its shareholders to implement a restructuring plan consisting of the following elements:
-- the company's authorized share capital has been increased to
more than nine trillion shares;
-- the company now is authorized to issue two classes of common
stock -
-- Class A common stock which is identical to the common stock
that is presently outstanding, and
-- Class B common stock which provides for 125,000 votes per
share;
-- the shareholders who sold shares into the market after the
declaration of the stock dividend have accepted an offer from
the company to exchange each of their shares of common stock
for 3,000,000 shares of Class A common stock, thereby
injecting into the market the 414 billion shares of stock
necessary to settle out all of the buy and sell transactions
that started with the sale of those 138,000 shares;
-- all of the other shareholders of the company and the former
shareholders of DigiKidz Holdings, Inc. which merged into the
company last month (who hold a total of 30 million shares and
the right to receive approximately 44 million shares,
respectively) have accepted an offer from the company to
exchange their shares of common stock and their rights to
receive shares of common stock for an equal number of shares
of Class B common stock
-- Approximately two weeks from today, after all of the billions
of shares of buy and sell transactions have been settled, the
company will file amended and restated articles of
incorporation providing that
-- all outstanding shares of Class A common stock will be
divided, i.e., reverse split, into a total of 3 million
shares,
-- all Class A and Class B common stock will be converted
into common stock having one vote per share and
-- the total number of shares that the company will be
authorized to issue will be reduced to 150 million shares
consisting of 100 million common shares (of which
approximately 77 million shares will be outstanding), and
50 million preferred shares issuable in one or more series
(none of which will be outstanding).
Robert W. Pearce, the company's Chief Executive Officer, issued the following comment: "We have worked very hard to craft a solution to the market liquidity problem that will permit all participants to settle the transactions in which they engaged. We want to thank the members of the brokerage community and our shareholders for their patience. We also want to thank those members of the brokerage community who provided very constructive assistance to us while we formulated our restructuring plan."
Contact:
Media Magic, Inc., West Palm Beach
D. Ruggeri, 561-491-0870
info@mediamagicinc.com
Source: Gluv Corp.
There will be an open bid for all shares at .0001
That's my take.
But 250,000 or so were bought not 138,000
I believe the 138,000 were flipped and that is what is out there........ or the MM's shorted another +100K to the mix
garrett800ca,
They had a market post-split of .0002, in a tender offer we are looking .0002 or higher. I would settle for .0001 if they act quick.
NNGY former OSFT is getting set uP!
No shares delivered to accounts yet. They have run it down and bought everything they can. Same old deal, everyone gets shares and there is a wild spike. This is set uP as it gets. It's -.35 x .48 with a last of .28! Nanotechnology with a company that is going to fully reporting status and a cap. structure to drool over. I'll call this the sweet spot for a ST/LT play.
ALERT: CNBC NEWS FLASH!
stock_rancher issues strong buy on NNGY
19.5 BILLION TRADED the 23rd LOL!
"The call confirms an insider sold, and the company made this mess, as we already knew. #msg-6726840"
If there were only 11 shares that were to turn into 33,000,000. The other insiders will opt for the 1 share from the insider trading with their 10 protected. The Brokerage/TA made 3 million available to the insider to sell. Only a tops of 400,000 were traded. In conclusion, the company will say that is where insider liabilty stands(400k of 33m). The TA/Broker comes in after this point for liability. If the TA/Broker never would have made the shares available, there would not be this situation. The 400k are due bills of 3,000,000 shares post-split for each share bought prior to Monday the 23rd ex date ( must have bought no later than the Friday the 20th). 400k x 3m = 1,200,000,000,000 or 1.2 Trillion shares due max. So in theory, the TA/Brokerage would be liable for the blunder, the insider has no way to cover and the insider will blame the TA/Brokerage for the screw up...... that's where the insurance comes in. In this case a .0001 tender offer is valid for those 400k forward split to 1.2T
I'm not quite ready to let some lawyer get a slice of my great trade.
Art2Gecko, you could buy Pink Sheets! LOL!
"Insiders own only 33 mil shares"
Where are my 165 mil that are due?...LOL! Does my company have a private jet? I have some motion pictures to make!
I've said tender offer all along,
They should offer .0002 min., adjusting the shares 1 for 3 million that are due.
No post split GVRP or NNGY at Scottrade,
There's no shuch thing as a radar on NNGY, it must be stealth LOL!
I like the new share structure and the words of fully reporting in the PR. All they need to do is get the product(s) in a distribution network and it is off to the races. I like watching the MM Games, I should have been a MM. I like the chart on CYOS, nice steady gains. Put PGNX on your radar.
Good Trading!
It reminds me of a time when I got out of the US Marines and went to the Veterans Hospital for months of physical therapy. In the end I ended up emotionally scarred becuase of crap like this. I had faith that the SEC and NASD would stand up for what is right........ they did not. I have no faith in the system anymore. I will liquidate my accounts this week and not look back, that is how I will win. As for GVRP, NASD, SEC, DTCC, Interwest, NITE, and whatever other dumb fuckers like that twit running the pink sheets......FUCK OFF!
Out!
He got fat and still acts as a cop on one of the networks.
That Bob Sagat scares me, he is as goofy as Tim Allen who was a dealer and got busted.
I'm going to grab a bag this afternoon...LOL!
After today, a good mellow high is in order. I have to go to this guy who looks like Spicoli from Fast Times At Ridgemont High....... well worth it though, he gets the good stuff.
Could very well be the facts here,
Weeks ago I asked Scottrade to let me know about my purchase of GVRP pre-split. They said that they were only the buyer for me in the open market. I said that was fine, but who was the seller on the other end......... silence! I then said under law that if I ask who was on the other side that they have to tell me the details. She then let out a big huff of air and got a little snooty with me. I then said, so you are not going to tell me the trade details under law.... She then said it was NITE that was the seller on the other end that they bought from in the open market for me. I asked if they were short sales....... she then said I have no idea.
Scottrade waiting DTCC!
Anyone hear anything?
No shares @ Scottrade, still pre-split showing.
I'll bet that all the brokerage houses are adding additional staff to handle GVRP questions on trading and split shares. I'm starting my calls at 6am. My guess is that we dont start trading until all shares have been issued by DTCC and verified recieved by brokerages. There will also have to be a clear representation of the current share structure. I am keeping the faith that this will work out for those of us that have been defrauded of funds due to no forward split shares posting into our accounts, erasing our investments to a few red cents overnight as the stock continued to trade in the billions. I believe that we should be the prefered shareholders that are able to sell into the short covering..... yes, restrict the others until the stock gets back to square zero. The SEC and The NASDAQ a.k.a. NASD have a great opportunity to show that they are sticking by the investor, always watching on the side, protecting and taking an aggressive stand to uphold shareholder rights. I know it sounds far fetched, however I am keeping the faith that we the GVRP shareholders win!
Cut and paste the link and e-mail it to them,
if they dont read it they are not doing their DD.
I believe a tender offer has to be at a premium higher than .0002:
If the deal were to go down in the open market we are looking at .0003 due to bid requirements(4 places behind the decimal), if it were as a cash dividend we are looking at .00021 where the decimal does not matter. That is exactly why I believe this ends in a tender offer just like Scottrade has it listed as the reason for the halt.
See everyone Sunday Eve!
The SEC does read this board,
that is why it is taking so long to get a response from them........ I'll bet they only have 10,000 posts to catch up...LOL!!!
Posted by: stock_rancher
In reply to: None
Date:5/24/2005 1:34:18 PM
Post #of 61250
UPDATE: Spoke w/Loraine @ Interwest & Company answering machine
I have had trouble getting in touch with Loraine @ Interwest Transfer. I was able to use the company directory to track her on the corp. phone system.... it worked. I asked her about my F/S shares? She said that the GVRP has put a gag order on her preventing her from speaking on any subject that has to do with GVRP and had been ordered by the company to give the company phone number (706)645-9410 to anyone that inquires. I then said that I bought shares after the R/S and prior to the F/S and all I needed to know is if my F/S shares are issued or being issued..... she said, " I have been ordered by the company not to answer any inquiries about GVRP." I said that I will call the company and told her to have a nice day. I then called the company per the number she has been ordered to give out and got the message system. I left the message of my name and phone number where I can be reached and also about the F/S split that I am due. I said that I did not want to join the class action law suit until I knew for a fact that my F/S split were not going to be deposited as it has been reported on various internet chat rooms. I have had no response from them yet. This is my last free post of the day, so if you want any further updates, I'll post them over on RB OSFT Board. I encourage everyone to call the number listed above to find out what is going on before we join the class action. Copy and paste this post as needed.
I'll be back at midnight!