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This paints an interesting picture.
http://www.quote.com/us/stocks/insider.action?symbols=ARDM&datatype=All&startDate=2004-02-20&startID=04625997
Largest awards since 2004 in May = future payday?. No guarantees but waiting this one out. Showing nice support. GLTA
It's good the trading software didn't stay in the wrong hands or else the market might have been / could be manipulated ;) Actually the whole article makes you want to reach for the duct tape. My two cents believe the DOW shoulders don't get breached this soon and we bounce off of ~8500 per KOP. Fundamentals have not changed. Please do your DD, been wrong before. GLTA
http://www.ft.com/cms/s/0/01ca4732-6fed-11de-b835-00144feabdc0.html
Goldman executives sold $700m of stock
By Greg Farrell in New York
Published: July 13 2009 23:33 | Last updated: July 13 2009 23:33
Executives at Goldman Sachs sold almost $700m worth of stock following the collapse of Lehman Brothers last September, according to filings with the Securities and Exchange Commission.
Most of the sales occurred during the period in which the investment bank enjoyed the support of $10bn from the troubled asset relief programme.
EDITOR’S CHOICE
Record fundraising buoys banks’ earnings - Jun-28Ex-Goldman employee accused of cyber-theft - Jul-07In depth: US banks - May-07The surge in selling among Goldman partners, at a time when the US government had thrown a lifeline to Wall Street, is likely to draw criticism from lawmakers on Capitol Hill. Having survived the crisis, the bank is expected to report strong second-quarter earnings on Tuesday on rebounding trading profits.
For the eight-month period for which figures are available, Goldman partners sold more than $691m in company stock, even as the firm expanded its public float from 395m to 503m shares in several capital raises.
For the comparable period between September 2007 and April 2008, when the average share price was substantially higher, Goldman partners sold about $438m in stock.
A spokesman declined to comment on the sales, other than to note that Goldman partners receive a big share of annual bonuses in stock, and that for many, stock sales are an effort to diversify their holdings.
Some of the sales could have been motivated by margin calls, which are said to have afflicted a number of Goldman executives who used company stock as collateral for loans.
Stock sales by partners have been a sensitive topic at Goldman Sachs, but never more so than since last September after the collapse of Lehman’s. According to a disclosure in Goldman’s most recent proxy statement in March, the bank took the unusual step of buying back investments in illiquid employee funds made by Jon Winkelried, former co-chief operating officer, and Gregory Palm, general counsel, for $19.7m and $38.3m respectively.
Goldman agreed to the unusual buy-backs last September to obviate the need for the two officers to sell stock on the open market, the company said in March. “Stock sales would easily have covered their requirements but, given the turbulent market conditions, we and they were concerned that such sales would be misconstrued by the market as indicating a lack of confidence in Goldman Sachs.”
Employee ownership has been an important component of Goldman’s “partnership” culture, a vestige of the investment bank’s history as a privately held firm. It went public in 1999.
But Goldman’s culture was severely tested last year. For the period during which executive sales were allowed, from September 17 to October 24, Goldman partners sold some $250m worth of stock.
A bigger wave of selling occurred during the window between December 2008, after Goldman reported its first quarterly loss as a public company, and mid-February. In that two-month period, when Goldman’s share price sunk to near-historic lows, partners sold more than $280m worth of company stock.
Copyright The Financial Times Limited 2009
One of the reasons was the IMF raised the 2010 global growth forecast from 1.9% to 2.5% today. Maybe a request from the admin for a little BS to quell the last 4 days or so. GLTY
The Treasury secretary told lawmakers the Fed lacks the authority to regulate companies such as insurer American International Group Inc., which needed a U.S. rescue that has expanded to $182.5 billion to avoid a systemic failure, and he said the proposed change “would allow the regulation of all the interconnected areas,” Maloney said.
That's special (sic). Admin doesn't want to waste the new crisis. Interconnected areas = total manipulation.
GLTA
Could it be the the current admin is using GS to help prop up the markets long enough to push through it's socialists programs at the expense of retail investors? Based on current economics, their window of opportunity is short, thus the ram jobs by admin/congress (conspiracy therory for sure but IMO - probably). Regards.
Asian mkts continue Friday's down day.
http://www.foxbusiness.com/story/hong-kong-drops-banks-energy-stocks-decline/
Possible development of right shoulder formation on DOW.
Predominately retail investors (I believe) are once again going to be taken for a ride once this wave crests. But then again got back in in a small way at 7.28 so there's no brilliance here. GLTA
Hit my trailing stop yesterday. Searching for a re-entry. Don't know where it is but this financial ride only has so much BS in it.
We may hear some BS this week from the financials, but there's still junk in the trunk. Down but not out.
Wells Fargo May Need $50 Billion in Capital, KBW Says
http://www.bloomberg.com/apps/news?pid=20601087&sid=avymhMJShuAs&refer=worldwide
“Details were scarce and we believe that much of the positive news in the preliminary results had to do with merger accounting, revised accounting standards and mortgage default moratoriums, rather than underlying trends,” wrote Cannon, who downgraded the shares to “underperform” from “market perform.” “We expect earnings and capital to be under pressure due to continued economic weakness.”
Hard to see the bottom when you are wallowing in the mud. But... this balloon is being inflated and the latex was made in China. JMHO
GLTA
Thanks. Been bullish on finacials but expected more after the gap in FAS (M2M news). This rabbit out of the hat seemed to have a minor effect, losing strength through the day. Started a postion in FAZ in the low 17's. Up-tick in two weeks should add some fuel to FAS but the fundimentals are what they are for now. GLTY
Any thoughts on how, if an up-tick rule is approved, will affect this fund? Seriously looking at FAZ at this point. GLTA
Broke 8.00 resistance premarket. Sweet.
Occured at 16:01:43 no less and was recognized as the last tick.
Agree. Hope some of the same legislators that recklessly bantied the N word around eventually showed their support for BAC and got in at 3.29. Best of luck to all.
Uptick rule may be back as soon as next month.
http://www.msnbc.msn.com/id/29623196/
More pressure on the White House, like this rebuttal by Cramer, is needed to change the tone, impliment the changes and resurrect the financial markets IMO.
http://www.mainstreet.com/article/moneyinvesting/news/cramer-my-response-white-house?page=1
Revultec website online as of today.
http://revultec.com/
Recently updated website.
http://www.arsciences.com/
Etouge,
Agree on all points. I am a relative latecommer to this stock, very much down, but not down as much as some and I don't intend to give away my shares. Call me crazy but I expect to make a return here, just a matter of when. IMO we are way undervalued and an attractive BB shell. Patient ones here will be rewarded. In all just my opinion and GLTY.
Mick
Sure thing R. This could be a blessing in desguise. I'm sure Bryan will be motivated to interview new suitors. GLTA
Mick
MM. Looking for bigger and better. LOL
Mick
Deal off!
Finally some news at least. As an attractive BB shell, lets hope we land a nice one.
Form 8-K for ENVIROSAFE CORP/CA
--------------------------------------------------------------------------------
19-Sep-2007
Termination of a Material Definitive Agreement, Financial Statements and Exhib
ITEM 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT
On July 18, 2007 the Registrant executed a written Guaranty of payments made by Si Chuan Da Zhu Fu Da Zhu Ma Fang Zhi You Xian Gong Si to help secure financing in order to finalize the share exchange between Si Chuan Da Zhu Fu Da Zhu Ma Fang Zhi You Xian Gong Si and the Registrant (the "Share Exchange"). The Guaranty was written for the benefit of R. Chris Cottone and guaranties payments pursuant to a promissory note executed by Si Chuan Da Zhu Fu Da Zhu Ma Fang Zhi You Xian Gong Si in the amount of $454,980. Pursuant to the terms of the Guaranty, the Registrant shall be responsible for payments under the promissory note in the event that Si Chuan Da Zhu Fu Da Zhu Ma Fang Zhi You Xian Gong Si does not or cannot make timely payments. Additionally, the loan is secured by the 30,632,250 shares acquired as part of the exchange transaction. A copy of the Guaranty is attached hereto as exhibit 10.1.
Si Chuan Da Zhu Fu Da Zhu Ma Fang Zhi You Xian Gong Si is currently in default of the promissory note for failure to make payments thereunder. Pursuant to the Guaranty, the Registrant is now liabile for the debt of Si Chuan Da Zhu Fu Da Zhu Ma Fang Zhi You Xian Gong Si.
The Registrant and R. Chris Cottone have however reached an agreement to settle the obligations created under the Guarentee. In settlement of the obligations under the Guaranty, R. Chris Cottone will receive a payment of $150,000 cash and $232,000 in debt owed by R.Chris Cottone to Guoqiang Zhan shall be extinguished in exchange for a complete release from the obligations of the Guaranty and the reversion of 30,632,250 shares of the Registrant currently held by R.Chris Cottone as collateral pursuant to the financing agreements.
In addition, the Registrant has decided it is in the best interest of all parties to begin unwinding the Share Exchange with Si Chuan Da Zhu Fu Da Zhu Ma Fang Zhi You Xian Gong Si. Once the 30,632,250 shares currently being held as collateral revert back to the Registrant they will be retired to the treasuary and the capital of Si Chuan Da Zhu Fu Da Zhu Ma Fang Zhi You Xian Gong Si will revert back to its previous state prior to the Share Exchange so the Registrant can continue its current business operations.
The real surprise to me is the lack of new blood into this stock, especially at these prices. I guess almost all of us are down to one degree or another and adding on at this point is not neccessary (have enough invested). But for those newbees that get a chance to review rheddles DD on this, this is one of the best opportunities IMO for someone to make some money within a relatively short period of time. L2's seem to back this up. Once .15's are gone all I see is .50 and up. Logical or illogical? GLTA
Mick
I would be glad to help if I had the dry powder. What I like about this is that it's got a good plan A (Dhaza Fuda) and a good plan B (desireable BB shell ready to go if Plan A fails). Time frame and the degree of upside are the big unknowns IMO. We're all hoping to see a nice spike in the chart sometime soon. I would be surprised if we didn't hear something within the next 30-45 days, hopefully sooner. GLTA
Mick
All plausible. I'm choosing to be patient on this end for news. GLTA
Mick
Hello R.
Could the delay simply be a matter of how business is conducted in China and their corresponding accounting practices vs. what is required on the exchange. They may be trying to straighten things out per exchange requirements and it's taking longer than expected. It seems like there is a disconnect somewhere as Dhazu Fuda thinks the share price should remain as before or better without providing corporate financials (as an example). Just speculating. GLTA
Mick
This week would be just fine and certainly wouldn't hold you to your gut feel. GLTA
Mick
Very nice line up at the bid. Based on the supply, nowhere to go but up IMO.
0.0300 6 30000 0.0475 1 5000
0.0200 3 15000 0.0480 1 5000
0.0150 1 5000 0.0500 1 5000
0.0030 1 5000 0.0600 1 5000
Mick
R. Thanks for your response. I am holding on for this one. Too much invested in this by Bryan & the Chinese. Patience will be rewarded here IMO.
Mick
I spoke with Greentree (#6996). I have not spoken with Bryan. At this point it may be up to Dhazu Fuda whether this is still at plan A or Plan B (BB shell up for grabs).
Mick
E. Really not alot to post about yet. The deal is not dead offically and could remain perfectly alive. We are going to have to wait for an 8K. Volume has been extremely low for some time obviously and those who have sold to seek other opportunities have a carefull eye on this to jump back in if something occurs IMO. Should the deal fall through this shell is perfect (for them and us) for the right company to get on the BB. I have a gut feel (nothing more) that we may hear something within the next two weeks. Note the line up on the level 2's @ .15. If they get it that would be a steal IMO but I doubt they'll get it. That's why I think .20 could be a great deal. The best I've done so far is .25. In all, JMO. GLTA
Mick
Level 2's still showing .20 can be had. Someone trying to free up a little cash IMO and looking very tempting.
Mick
R. Hope that wasn't the employee of the month. GLTY
Mick
I agree with you. We are in a waiting game and I wish those who backed out for now well. The chance to get back in at a reasonable price could exist. I spoke with Chris Cottone at Greentree today. Can't say that I have anything new to share as Chris didn't even remember Dhazu Fuda by name (or was being coy). He told me others have contacted him in the past looking essetially for insider info. He said Envirosafe investors best bet would be to remain on the lookout for any 8K's filed between quarters. What we do have is BB shell, debt free, with an extremely low capitaliztion and share structure (IMO perhaps too low and a solid FS candidate) and CEO who took shares in leu of payment. If Dhazu Fuda is indeed out, that may be a blessing in deguise and a new partner well worth waiting for. No selling here. GLTA.
Mick
Gonna have to start drinking decaf. What the heck was that!
Mick