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Not Buy back! Someone sold. It's as simple as that. If sandy happened to be on the bid at that time, it could be buy-back, but the odds are really small. If Sandy wants to buy back at 3, he needs to wait in line as everyone else.
hrhr's statements are rarely fully true...always a bit of pumping and exageration involved...
people were hoping for a massive buyback that already occured. That didn't happen... so sell off
We still have the prefered mess over our head. Sandy should address that first. We have major potential dilution over our heads ... the buyback will not change that.
If Sandy says the converted are restricted for 3 years, that would help imo. (=> less conversions, long time before dilution)
- 400K which have been bought back already
(1 billion buy back completed)
= 8.2B
That sounds right...but probably the can prolong the loan agreement...
There's nothing shocking about it if the o/s was around 14 billion. And buybacks are nice, but since then sandy diluted us with also around 600.000 shares; so the net result is around 0.
If I remember correctly, the buyback was announced to be between 1 and 2 billion shares, so I guess you can say it was never completed.
A bit strange that you have to use your first post over 3 words ever explaining us why this is BIG news.
It is only BIG news if the market responds to it, and it was seen by everybody that this would not do it.
Maybe we should define some terminology to avoid misunderstandings in de future.
"BIG news" can be used for:
- removal of 5 billion or more shares from the O/S
- reverse merger with TFN
- a 'real' USA carrier deal
Just hoping these things will come...
Meanwhile...keep up the good work.
I agree.
It a perfect example of 'how to kill your own run".
It is not that long ago that they were selling billions of shares, while IR was pumping this by giving "information to investors". I expect that we will have a next round soon.
I do believe there is some value in CHNW, but like all compagnies, they need money...
For those still in doubt:
"We have instructed our advisors and our agents to begin the process of registering Esprit Financial Group Inc as our new name. This will more accurately reflect our business activities moving forward."
From:
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cpr%5C2007%5C02%5C09...
no problem...
Sure I hope this takes off huge!
if you really think that was a bashing post, maybe you should learn to read. Or at least do an effort to read before you comment.
If I would be paid for bashing this I could do a lot better!
Yes, I was thinking the same thing: make them tradable...however, after thinking about it more, there is one major disadvantage:
- after trading the prefereds, the prefereds would only be owned by people planning to convert, so all prefereds would be converted, which means major dilution. (134 billion)..which means 0 value for BKMP.
Not to mention: you were given preferred shares in a company and then they are taken away from you (voided) if you do not convert... is that legal?
and another one here...
I think that anyone doubting that we are seeing dilution here is either failing to see what happens or doesn't want it to be seen. It it obvious that dilution is happening now and has happened over the last weeks.
The only thing we can do is hoping it stops. Hopefully yesterday. The company is running a pump and dump. They pump through IR and board members. They give all kinds of info through email, but they don't PR them. I would like to see a PR explaining the current share structure.
That being said, I still hope we see a run here..but dilution must stop first. I would rather see PR's than all the emails to board members.
I sure hope they don't sell you any bull...
If we see a PR of this, we are ready for lift off
Thank you for that analysis.
The remarks I have:
- Facts II and III are not actually facts but stuff you read on the board. At this point, I'm not sure what the info is worth, even if it came from IR or the company. I would like to see PRs before I take them as fact.
To me, the fact is 2.5B o/s, as it came from the TA, although it was not confirmed by anyone else yet. (But the company seems to admit it)
Anoter fact is that we had 400mm and 80mm shares dumped at the bid yesterday and the day before, while we were having a good day. Who would do that? Who can do that? Only the company can. We had massive buying interest, but no movement.
As people say: 2.5B is not the end of the world, but we need clarity on this from the company, that is the only thing that can save us. Now it seems to me they were pumping (through the boards and members) and dumping.
Be happy that we have such a poster. He saved you lots of money, as you admit!
so much for the buyback and no dilution...
Yes, but think about how easy it is blaming shorts for what is really dilution.
Think about: "our old CEO could not handle the shorts anymore". How ridiculous is that? He's a CEO! and he went home crying?
And why are they watching this? Why no PR with all the info you got? Because it would be illegal to make false statements in a PR.
They could very easily PR that they have been buying back...but they don't
It seems pretty obvious that the company is dumping. Yesterday there was 400 million dumped at once at 0.0002, today again...be it slightly less shares.
I'm in this too, but I've written it off as a loss. Anything that happens is fine for me. I'll hold and see...
I really hope that we have 500-700mm shorts and that the company was buying these last days and that so the OS is now around 300-400mm....but I fear that the company has been dumping and they are using people on this board to spread rumors.
Has anyone some real recent info from the TA about the o/s + a/s? I would really like to hear it.
Fully agree, it is not a scam and the last thing we need is a complaining board.
but still, now and then people need to let off some steam...
Excellent post and all true I must admit.
A couple of things don't look good at all here:
- CEO pumping his own stock, telling people to hold
- increasing OS on pumping PRs and 'buyback' progam
- blaming shorts for the decrease in PPS
The thing that makes me even more mad is "Once revenue is strong and we do our audits the game plan is to move up the OTC or Nasdaq". Nasdaq, really? This is just a little bit over the top and makes him look like a fool, no?
My guess is that we have seen more dillution over the last weeks and that is the reason for being where we are.
My average is now 0.0026. There is not much to gain from selling now; so I will hold and hope for the best, but definately not buy anything more....
Hi strongus,
Are you not a little bit dissapointed after your talk with the IR-guy? If I remember correctly, the CEO returned at the 18th of december and he had some nice things to report. They also told you the NOBO results showed an amazing shortage.
Until today, no PRs on that...
I myself am getting a little bit depressed here. A couple of months ago we had almost every day a PR. I also don't like the CEO pumping his own stock and blaming the shorts. I've seen him do that several times now.
Has anyone some recent numbers on the OS? Or can someone tell me how I can contact the transfer agent?
Let's hope it is all true and they are just waiting for next week to start 2007.
Nice pumping...but why would this IR guy tell you things about the NOBO and buyback if these things are not PR's yet?
Thanks.
Pinkies are getting hit indeed, guess it has to do with SLJB.
But I think that especially those pinkies that are 'vague' or make promises that they don't keep are getting hit the hardest. That's one of the lessons learned from SLJB.
I think that 'Cash Now' is not doing that great on keeping promises:
- NOBO: where are the results, we want to know, even if the results are showing no shortage. Now we only think that they didn't really order it.
- OTCBB: don't talk about it but start filing.
- OS: we have almost doubled in OS; for so called 'aquisitions', but we don't see any aquisitions
- Buyback: instead of a decreasing OS, it in increasing.
Those thing scare investors away...
Hi Varok,
What's your take on this? Are you still in CHNW? Buying more? Or a little bit worried?
Thanks...
Yes, you are absolutely right. We hear a lot of stuff they are "going to do".
- We need to see the NOBO results
- Didn't they also say they wanted to go to the OTC: we need to see them start filing financial results, which means we will get information on what the are generating NOW.
- Weren't they buying back shares: we need to see some evidence of that.
Just do it!
The fact that the address is a mail box does indeed not give a warm and happy feeling, but it is not a disaster. There is probably some good reason for that. Perhaps their real offices are somewhere else, but the official address is at that location just for tax reasons or something. Maybe the state has better laws than the state they really operate from.
Has anyone confronted the company with this ?
I can not figure out the why of this...
It seems very much like he is intentionaly screwing us.
- AF will be posted on the 15th
- confirmation that they will be posted the 15th
- we read that it will right after the bell
- nothing after the bell
- at 2 am: message of delay, it will be posted at 4am
- nothing at 4 am.
- some PR yesterday saying the issue will be addressed at 4
- nothing at 4 pm, maybe at 4 am, but realy, what are the odds?
Questions is: why would you do that. He knew this would hurt us big, and still he continous this strategy. why? why? why? If this were a SCAM, why would he come up with the idea of AF's in the first place?
+ this has been investigated by the SEC (routine), but still, if nothing would be there we would have heard something sooner, no?
Bull: if he would have gone ahead with the AF's, we would have been up and nobody would be talking about the article.
"SLJB the shareholders of this stock will either be penniless or rich"
I think of it like this: the initiative for the AF is coming from SLJB itself. They don't have to do this... they wouldn't do this if they weren't sure. They only do this to proove what they are claiming, so no doubt here that we will see some nice AFs...
Where did you get thay info?
According to the PR from 24 oktober:
"According to the company records there are approximately 590 million outstanding shares"
Question: what are you expecting to see in the AF and what would the impact of that be on the PPS, you think?
Everyone ready for the thanksgiving weekend?
Remember how Sandy loves long weekends...
Read the PR from october 24.
They have ordered NOBO and they expect the results in the week of november 20.
+ They are buying back shares, not diluting. I don't see any evidence of dilution, only lack of buyers. I expect that when we approach november 20, we will see some more interest here...
So patience is the message here!
According to the company records there are approximately 590 million outstanding shares, on an authorized float of 950 million shares. The outstanding share structure represents both free trading and restricted shares. With an institutional financier already in place, the company projects that it may be in a position to re acquire as much as 220 million outstanding shares (at current price levels) with this institutional financiers backing, and support over the next 6 to 12 months.
not much?
Yep... but when the new ones are out, it will be there...
(Or did I miss something: are they out yet??)
financials are also posted on www.pinksheets.com. enter BKMP and go to the "financial info" tab.