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Not to start any kind of debate here, but I was one of the very few that realized dilution was taking place with CHNW. The facts and signs that led me to believe dilution was happening are still there. The outstanding shares reported by the company recently proves my suspicions were correct.
What people don't realize is the fact that the company can tell you all the lies they want in private and not be legally accountable. I know this cause my brother is a big-time attorney in Chicago and he informed me as such. The company can only be held accountable for publicly released news articles and SEC documents.
Bottom line, believe nothing until it has been proven beyond doubt.
Oh yea!!! LOL..
The company must still be diluting. Fridays volume should have shown some .0004's. I don't believe for one minute they are buying back shares when the float has sky rocketed from 900 million to over 4 billion. Why would they sell then buy again? To stay stuck on .0002/.0003 with the volume we have seen just doesn't make sense other than what I just stated. I assume M&M's are covering shorts with the new shares entering the market. We'll see.
Then, do it.
A couple weeks ago I tried to buy some @ .0002. When the order sat there for about an hour, I raised it to .0003 and it filled immediately. We need people who are willing to slap the ask before this stock will rise.
If you people aren't willing to raise your bid, no one else will either.
I don't agree with much that is posted on this board, but I DO AGREE STRONGLY with your post.
Hmmm? Doesn't that PR release contradict the 10Q as follows?
Total net revenues decreased by 81% to $700K during the three months ended December 31, 2006, as compared to $3,750K during the three months ended December 31, 2005. The decrease in total net revenues was primarily attributable to decrease in sales of digital security imaging systems made through the Company's subsidiary, Shenzhen Golden Anke, and sales of photographic equipment made through the Company's subsidiary, Shanghai Newray. Revenues attributable to e-commerce solutions decreased by $30K or 57%, to $23K during the three months ended December 30, 2006, as compared to $53K earned during the three months ended December 31,2005. During the three months ended December 31, 2006, the Company generated $458K revenue through its newly formed subsidiary, Leader Palace which commenced business in October 2006. With that additional revenue, the net revenues increased by 149% from $280K for the three months ended September 30, 2006 to $700K for the three months ended December 31, 2006.
I'd say it is due to a horrible earnings report. Revenue and profits down big. Doesn't bode well for this management team. There are many questions associated with the purchase of the stock exchange that were not addressed, at least as of yet. Could go lower yet.
Yes, 5.27 million long.
Again, is that the best you can do? Go read the filings and weep.
You can't read English can you? What new management? Our new CEO is our old salesman. Here, I will post the link for your interpreter to read to you.
http://biz.yahoo.com/prnews/070116/to349.html?.v=12
Glad to see someone gets it. Guess what though, you are now a basher like me, doesn't matter you are just stating facts.
God, what is wrong with you? Where do you think the volume has come from with no price movement? The company isn't buying, they are diluting!!! Next filing will show 5 billion A/S ans O/S. They said they were buying before the cutoff of the last filing. They were lying, wake up!
I just can't stand by and watch you ill-informed people twist the facts. I only post the truth, always the truth. My first post this evening dealt with facts from the last two filings. The company lied to us by saying they were buying back shares when in fact they were diluting like crazy. I posted that same concern on this board and was told I should leave and I didn't know what I was talking about. Now, the truth is out people, deal with it.
Now, concerning all you people that say I am bashing our new management team have no idea what you are talking about. First of all, there is no new management team in place at Cash Now! Do any of you people read English? If so, read the following:
Mr. Garr C Winters. Mr. Winters replaces the current CEO, Kevin S Price, whose contract expired at the end of 2006. The company has also accepted the resignation of John Anthony Falting as a Company's Board Director. Mr. Falting continues as Chief Executive Officer of Cash Now Australia. Mr. Price will oversee and manage the company's new entry into the Forex market and related projects. Mr. Winters has been with Cash Now since its inception in 2000 in capacity as a marketing director and retail locations "turn key developments".
Who's new here? Price, the guy who diluted you to death is now in charge of the so-called Forex division. How reliable is he? Do you trust this man with your hundred or so million shares? What makes you think this man will do any better managing Forex than he did managing CHNW? This guy is a previous CHNW failure.
How about Mr. Falting? He just moved to Australia. Big deal, we still have him in management.
How about our new CEO? Winters has been with Cash Now since its inception in 2000 in capacity as a marketing director and retail locations "turn key developments". Is this salesman capable of running this company? Do you trust these liars with your investment? You people better get your eyes pried open and see the reality here. I could go on and on, but I have a business to run tomorrow.
This is my last post. My intent was not to bash but to enlighten only. There is still a chance the Forex thing could work. But, this management team cannot be trusted!!!!
Nighty nite all..
That's enough for me tonight. All BS aside, I really do want to see this stock appreciate. We all have our dreams, don't we?
Good luck all..
Thank you, thank you very much!!
If they did, we'd see .0001 or worse.
Okay, I'm sorry.
As a share holder of a possible scam, I feel it my duty to warn other unsuspecting potential longs. I wrote this stock off long ago, but I still hold the worthless shares with HOPE.
Unless you are a market maker, please explain to me how a person can short a sub penny stock. I'd love to be able to do that, wouldn't you? I'd short this POS tomorrow at .0003 and cover at .0001. Easy money. But, I don't know how. I have a retirement account with Ameritrade and a trading account at Ameritrade Izone. They won't let me short a penny, ask them.
You don't get it do ya? What the hell could this companies stock be worth with an O/S count of over 4 billion. Better yet, I bet the company dilutes the rest of the pile right to 5 billion. I ask you guys, has anything I have said to date been a lie, or not happened? Look at the volume since the filing cut off and figure it out.
I just hate to see so many good people lose so much money on a possible scam. The Forex thing could pan out, but this company has lost all its credibility due to severe dilution and then lying about it.
Last quarterly report stated O/S of 581,510,267. That wasn't too bad for a pinky. As I have stated on many occasions previously, the only thing that made any sense here was dilution. If it was being shorted to death, it would be sitting at .0001 or worse.
This quarterly report states the outstanding shares are now at 4,320,510,567 or a dilutive difference of 3,739,000,000 shares. This company stated to several people they were not diluting. They are freaking liars and they could care less about us. They just sold newly issued shares to anyone who would take them at any price. They weren't buying, they were selling. Thus, share price erosion.
Did you guys see the license revenues? It went from $88,000 to $75,000. Boy, what a find we have here. Did you also see the going concern note in the filing? I wouldn't completely disregard it.
What we have here is a lying management team, a going concern, a bloated float and a questionable future at best. How do we know the Forex business and platform is real? I haven't seen any official filings to the SEC showing any proof, have any of you?
Lets speculate and say the company is for real. Lets say the company successfully launches the Forex platform and becomes a company on the verge of making money. What happens then? For sure, the company will want to upgrade to a better exchange. AMEX, NASDAQ, perhaps? What do you think needs to happen long before that? I'll tell you guys exactly what's coming next. It's called a reverse split. You guys that spent your life savings on this POS could be in real trouble. Why? The markets job is to take as much money from the most amount of people in the least amount of time. There are a lot of share holders here that hold 50-150 million shares. You don't really think the market is gonna let you guys become millionaires do ya? Think again guys, you been had.
To all you beautiful pumpers...I think you're losing, pump HARDER!! LOL.
Good post. No question there are big money forces that rule that of which most of us are not ever aware of concerning the markets, banks and Governments.
Be that as it may, I just want to clear the air concerning my position with this stock/company. I am long and really want to see this stock appreciate. My only complaint is transparency. My aim is to caution those who want to bet the farm on this stock. If this company had decent revenues and was close to profitability, they would have filed such with the SEC through a 10Q SB already. I'm not saying the company is a fraud, but I am saying that until they prove they are a viable entity with profit potential, this stock will never reach what some are hoping for.
I'm asking you because you were the one who deleted the following post wern't you?
I have read all the recent posts with interest. I still will not average down with out proof of some sort of revenue, or better yet, profit numbers.
The hype here has flipped 180 degrees without any real proof of financials. Everyone is flipping out over a few e-mails from a company that wouldn't even speak to us a few days ago. Posters were complaining about fraud and how they have been had. What has changed? Has any real proof of anything the company has e-mailed us been proven in any way?
What happened to Price's (the old ceo) trip over seas? That has kinda been forgotten. Wasn't that supposed to be a big deal? Now the company says they wanna concentrate more on US and Canada operations? What about the Australia operations? Where's the revenue numbers? Does this company make any money at all other than selling restricted shares??? If they did or do, where is it and why would they have to sell shares to get Forex up and running? Is there really a Forex division? Where's the proof and why is it taking so much to get it up and running? Shouldn't something like that have been a turn-key operation?
Stocktrendsetter asks valid questions that everyone should try and answer. I'm not bashing, just trying to calm the mob mentality that always seems to rule this board.
This isn't a pink stock trading at three hundreths of a penny for nothing guys. I am still a share holder with high hopes of success. But, hope is all I really have until the company proves through filings they are legit. Please don't get caught betting the farm against a stacked and marked deck of cards the house could be possibly be playing.
Now dat's what I'm talken bout..LOL.
Will that make us all buco-bucks?
justwantoberich and billyboy55, nicely said. I would also like to see a slow growth pattern develop. I think this new management team could turn things around. But, before I would invest any more of my money, I need disclosure filings such as 10@ SB and verification of O/S. Also I would like to see a filing of some kind confirming the Forex venture. Until then, it's all just hope and hype. That's why the stock stays @ .0002.
Didn't you bet on the Bears?? You were so sure, wern't you? About as sure as you are about this stock, right?
Pump, pump, pump!!! Christ sakes people, tone it down a little. I want to see this stock skyrocket as much as anyone, but you have to be realistic. I don't see a short squeeze here due to the fact there are so many big share holders that will sell into any pop. There are billions ready to be sold.
"If this company is for real," the share price will take care of itself. I have heard so much pumping with this stock it is ridiculous. Before Christmas somebody was always posting that this stock would explode by the new year. That's when the stock was trading @ .0009. What has happened since? Get my point? Most of you guys are like little kids chasing a penny candy dream.
How about we all disclose our age. I'm 57 years old and I make money in the market on a very consistent basis. The market is a professional hobby for me. I have learned many important market lessons since I started trading. One of the most important lessons of all is to never, and I mean never ever count your chickens before they are hatched!
Many things that should have been addressed in the president's message were not. Things like outstanding shares, past dilution to what extent, reverse split possibility, (or not) when to expect disclosure filings, revenue and profit expectation numbers and last but certinally not least, what value this company places on its own share price. There's still way too many red flags flying over this company. I could be wrong, but I don't see this president's message doing a damn thing for the share price short-term. We'll see.
I got a private message saying the link I posted didn't work. Below is a cut and paste of that article. I cannot reply to private messages because I do not subscribe.
Press Release Source: Universal Express Inc.
Universal Express Supports Overstock.com's ``Naked Shorting'' Suit Against 10 Major U.S. Brokerages
Monday February 5, 12:00 pm ET
NEW YORK--(BUSINESS WIRE)--Universal Express Inc. (OTCBB: USXP - News), today announced its support, and congratulates Overstock.com and its Chairman, Dr. Patrick Byrne on the filing of its $3.5 billion lawsuit in California against 10 major U.S. Brokerages.
ADVERTISEMENT
"Universal Express would like to extend its congratulations to Overstock.com and Chairman Dr. Patrick Byrne on its 'Naked Shorting' suit. Universal has received judgments in Florida courts of over $700 million against Naked Shorters, and is also contemplating further lawsuits," said Richard A. Altomare, Chairman and CEO of Universal Express, Inc.
Reference: http://www.forbes.com/business/2007/02/02/naked-short-suit-overstock- biz-cx_lm_0202naked.html
(Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field. Remove the extra space if one exists.)
About Universal Express
Universal Express, Inc. is a 23 year old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Companies suing brokerag firms for naked shorting. You guys that like to e-mail the company should consider forwarding this link to them.
http://biz.yahoo.com/bw/070205/20070205005969.html?.v=1
The answer to your unanswerable question lies in the hands of this management team. If they are telling the truth and the PR's are on the up & up, a penny could be chump change depending on outstanding shares. It's only a guess how many shares are out there.
The biggest reason this stock isn't flying is non-disclosure. The company "MUST" file a 10Q SB to prove they are a legitimate company that is capable of making money. So far, all we have is pinky talk out of this management team. Nothing has been verified. There are a still lot of red flags and unanswered questions with CHNW. Time will tell.
As far as I'm concerned, this investment is a total loss. Eventhough I bought some yesterday, mentally, I have completely written this off. That way if it disappears, no bid deal. But, so much the better if it takes off.
Another problem I see with this stock is resistance. There has been so much buying lately, it will be hard to get through resistance once it does start to rise. The key here is patients. Do what I do, I trade other stocks, mostly momo stuff. Today I bought NYMX @ $4.95. I think this stock has a ways to go yet. I bought VII @ $7.03 and sold @ 7.68. I think that one is going a lot higher, but it needs to retrace first. I own 1 million of FCCN which has just broken through resistance @ .02. I think this one is a 20-bagger from here.
Got tired of not doing anything, so I scooped some up. Had an order in @ .0002 and it just sat there. Finally I just paid up and changed the order to .0003 and it filled instantly.
I had a bad trading day today. On Friday I loaded up with NYMX and sold at the days high. The market maker just walked up and took my sell order @ $5.45 and I made a killing. Yesterday, I bought NYMX again @ $4.62 on the pullback thinking it would run today. I got impatient and sold @ the days low $4.54 and bought something else. About 15 minutes later NMYX started running. Pissed me off so I punished myself by buying more CHNW, LOL. Damn market!!
Now that is a good idea. I bought some more today @ .0003. I broke one of my trading rules which is to never average down. We'll see.
What's wrong with you people? Short squeeze?? That is funny.
LOL..You pumpers take the cake.