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The only explanation I can give is that it is a suspended pink trading on the greys and if it follows all other suspended pinks, selling pressure increases over time.
But there people still buying in the 3's it appears.
True, the volume has lasted a little longer than most.
What you are seeing and asking about has been posted many times.
There are always some amount of buyers at progressively lower levels.
What's the big mystery?
A DTC chill and an SEC suspension are two VERY different things.
The stock has been trading at a fraction of its pre suspension price.
Pre suspension shorts are long gone....covered.
Now that it is on the greys, there are no short sales. Another grey sheet myth.
Any presuspension shorts are long gone...easy cover.
No shorts once on greys. Illegal.
It would have been a good thing if Fallacaro had taken the clue and got to work on his financials.
Popcorn ready.
The expectations for the 25th seem to have been ratcheted up to counter the "negative posters"...I see a big letdown and rationalization to come.
Absolutely not. Owned a pink sheet once, it got suspended, I listened to some reason and sold into stupid a few days after it started trading on the greys and got out even. Vowed never to own a pink again and hope someone can benefit from my view.
That link is laughable. But regardless, I will make the bold prediction, AND YOU CAN MARK THIS POST, that KMAG will still be trading on the grey sheets at EOD on Friday.
So FINRA told him that his (assumed) divy filing was not going to be approved because of a lack of financials and he does what? Get to work on the financials or not? If not, why not? If yes, well that's, what, 8 months now?
Empty promise.
So even after he supposedly filed the paperwork and was told the lack of fins would not allow approval he then went on and did what?
...oh ya....nothing.
He got his company suspended...when it could be seen coming from a mile away.
That is reason enough to question anything he says.
....ummm it was lifted October 1
How do you know it was filed? These is no record of it. In any event, it is unlikely to happen now anyways...and no way it can have an effective date of almost year ago.
Again, an empty promise.
And yes, there is a great reason to create GTHI....for Fallacaro and crew. No good reason I can think of for GTGP common shareholders. I think Fallacaro and the banks wrote off GTGP awhile back when the thought up this one.
The GTHI creation by Fallacaro is certainly indicative of something. The reason given in the 8K is that no investment bank would invest in a small publically traded company. These are Fallacaro's OWN words.
Why do you think that is? What is it they could do with a private company that could not be done with a public one? Why would the investment bank not have interest in GTGP, if it is such a great investment?
Somehow I think Fallacaro just thought he could slip that one by.
This is one of the oldest plays in the pink sheet world.
As for FINRA, no filings were made on the divy. None. Not gonna happen. It's too late now anyways because of the suspension. It will be very difficult, if not impossible to get approval now.
Another empty promise.
I have read too many message boards to know that GTGP is no different. In some ways worse. The lack of financials for a stock with the activity it had was pretty unique. There are too many warning signs or clues about any number of issues. First, the suspension could be seen a mile away, and was, because of the lack of financials. It is rare that this call can be made and actually come true within the timeframe seen here.
There are indications that assets are being transferred to a private entity, there are clear inconsistency in past PR's ....the list goes on.
...so lets see what happens on the 25th. Maybe he will announce an auditior, clearly state the interest that GTGP has in GTHI, provide an estimated timeline to producing the financials, explain the lack of any filing with FINRA for the divvies promised last year, clarify the share structure, provide the results the elusive hot run, etc. etc.
...but somehow I don't think we will see any of that.
According to a suspended pink CEO that is accused by the SEC of providing inadequate information.
This is one instance where an independent verification or perhaps an 8K on the record could provide a little credibility.
An investor takes what a suspended pinkie CEO says at their own peril.
Here is an interesting question...
Do you think that GTGP had to produce financials as part of the acquisition deal for MSE by GTHI?
One would expect that if the deal was material to GTGP it would have had to produce something to assure its ability to close.
So if it did produce financials why have they not been filed?
And if it did not produce financials does that mean the GTGP financial state was immaterial to the transaction?
Not a whole lotta choices here.
Is it possible that MSE and the bank did not care about GTGP's financial state? If so, why?
That is kind of my point. These do take a lot of time. And time is not a suspended pinkie's friend on the grey sheets. But one would expect there to be a plan and expected time to complete by this point. No excuse for there not to be.
Also, announcement of the retaining of an auditor is both standard and necessary. Since GTGP has not filed in 5 years, it is not clear at all who would be doing it.. Announcement of an accountant ...or even just the audit firm would go a long long way to giving JF an ounce of credibility.
A former suspended stock of mine had a new auditor annouced and PR'd before the end of the suspension period. It still ended up at 0.0001/0.
Fallacaro should be able to anounce an auditor now.
Looking forward to his Form 10. So he can clear up all the inconsistencies in past PR's.
I am sure the SEC will be interested as well.
Surely by now, over a month past the suspension, he could at least give a progress report, an estimate of the time to complete? Something?
The best inference to not hearing anything is that, at this point, he STILL doesn't know. Not good.
....or he has no plans to do them.
Ok so at first it was
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79710470
Now it's 3-4 months....
And when 4 months come and go....?
Hold your CEO accountable.
Well, at one point you expected them to be done in "one month or less". We are now well past a month for the suspension.
Well the PR you keep posting sure seems to infer that he was going to deal with it during the 10 day suspension. But then again that his his style. A vague PR that can be painted anyway someone wants. As long as he has plausible deniability.
Just like the MSE PR. GTGP could have ZERO interest in GTHI and that MSE PR would still be ENTIRELY correct.
I have a feeling that nothing will be any clearer on the 25th.
So did Fallacaro deal with the financials in the 10 days following the suspension as promised? Or does he get a pass there too?
Yes the expectations are high for the 25th as they should be.
At a minimum I would expect to see a PR that clearly announces the completion of the takeover of MSE by GTHI and a clear statement as to the interest that GTGP has in GTHI so shareholders can properly evaluate the value of this acquisition to GTGP.
However, the pessimist in me sees another vague announcement, if any at all, that makes it all but impossible to answer that question. Then we get to wait another 4 days for an 8K. If that doesn't show up...then there is only one explanation......
...we will see.
The results of this elusive hot run have been announced?
What has happened to this stock, what is happening to this stock and what will happen to this stock is anything but funny. Sometimes sarcasm is needed to bring into relief the reality. Shareholders should be demanding meaningful information from this CEO.
Would you not at least expect him to tell you when the fins expect to be done? He seems to have no problem announcing other future anticipated events...even when they don't happen as expected.
Why not this most important of questions? Why?
Is he afraid to be held accountable?
In your opinion when will the announcements start?
What do you expect to hear, and by when?
Exactly.
Easiest prognostication to make...
Yup. Absolutely opinion on GTGP.
Informed by two years of watching suspended pinks end up in that exact state...to a one.
Dreams die slowly. There are a few listening.
Wouldn't it be absolutely hysterical if whatever value the MSE acquisition had did not accrue to the long suffering GTGP shareholder but instead ended up with the bankers and Fallacaro's crew?
Can see this one coming from miles.
Well in all fairness....it will likely be bouncing between 0.0001-0.0002 on $10 trades
Sorry, Oct 18, 2011 8K is about as factual as one gets. Unless Fallacaro is lying. GTHI is not, and will not be a wholly owned subsidiary. And the lack of a 8K within 4 days of the material event of signing the contract strongly suggests that GTGP ownership is minimal...unless they put in a majority of the equity. But we all know they don't have any to give.
Until some real facts come out to clarify that issue, that is the only assumption that has any validity at the moment.
Awaiting October 25th.
There are a few posts that will be coming back up on the 25th I am sure