Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Instead of buying back shares, they lied and diluted to the tune of 2.5 billion as of today. The dilution may not be done yet. Too much volume without an up move. The stock only goes down which equals dilution, lies, dilution, lies, ETC...
I'd go for that.
LOL..Point taken.
It's not his fault. Blame the company for the current share price dilemma. If the company had done a fifth of what the PR's stated, the share price would be much higher. I personally think they artificially pumped the stock price up with PR's so they could dilute into it. We all should have listened to DOLPHY.
What's wrong with a reverse split? Look at FRPT. They did a 1 for 9 reverse split last year. They're over $20 a share now and listed on the NASDAQ. I know a reverse split isn't appealing, but some times it is better to reduce the float and increase the share price. That will make it more appealing to higher end investors. Bottom line is this, the company has to make money going forward or nothing else matters anyway, reverse split or not. Right now this stock is almost worthless.
Wasn't there about 900 million O/S recently? Didn't the company tell you in their e-mail (or on the phone?) that they were buying back shares, that's why the volume was so great? If that were true, why would the transfer agent tell DOLPHY there were 2.5 billion outstanding? How could they be buying? They are lieing, no other way to put it.
Now, if there are 5 billion authorized, and 2.5 billion issued according to transfer agent, how could there be 4 billion restricted shares left? You don't need a calculator to figure this one out.
I have always been against averaging down unless the buy was above your original stop loss. This stock is a good example why. There have been a lot of red flags here and we all ignored them, me included. But, I wrote this company off as a total loss long ago. Therefore, I will not sell my shares. I will stick around for the final act, or the rebirth of this company.
If they don't do a reverse split, the share price will suffer unless they show a nice profit down the road a piece. If the Forex business exists, this could end up being a decent play. Time will tell.
Obviously, the volume came from the company selling shares, restricted or not. The term restricted is used to qualify the stock as being saleable at a future date. What we are seing here is shares being added to the float. Now, you must understand that restricted shares are still class a common stock. The restriction must be up if they are selling...PERIOD!! They are lieing to us by trying to trick us into thinking the restricted shares don't effect us, or the float. It does add to the float. In order to bring the share count into line, the company will have to do a reverse split, no other way around it. This stock will see .0001 soon I'm sure. Below is a little blurb from Investopedia:
Restricted shares means: Insider holdings that are under some other kind of sales restriction. Restricted stock must be traded in compliance with special SEC regulations.
Insiders are given restricted stock after merger and acquisition activity, underwriting activity, and affiliate ownership in order to prevent premature selling that might adversely affect the company. Restricted stock cannot be sold without registration with the SEC (under the Securities Act of 1933)or some other special exemption.
Guys, this doesn't make sence. If the volume was short covering or the company buying back shares, the price would be going up, not down. I suspect either dilution or naked shorting. When you can smell a skunk, look around cause he's close at hand. My oponion only.
Great advice!!
Strongus,
Forget that last request. I can do my own DD. Sorry for even asking. Would you please post the e-mail address you received your last response from and the persons name that replied.
TIA
Cool picture. I thought maybe the instrument in its left hand was one of your, "tools of the trade" LOL!!
'strongus2006'
That was the best post this board has ever seen IMO. Great job, I'm sure everyone enjoyed that post.
Since you seem to have established a rapport with this company, can you get us an accurate up-to-date O/S and float count? If they are buying back shares, how much have they repurchased and how much more will they repurchase?
TIA
'J-Rhino'
Is that a picture of you dressed in your work attire? You are such a handsome person, being, monkey, or whatever?? LOL..Just kidding of course. :o)
psykotik1
Thanks, that was agreat post. After reading that post, I will shut down my computer and stop reading the nonsence on this board. Funny how one down day makes so many people absolutely nuts.
Good luck.
You are so right. If trading, or just buying stocks in general was easy, everyone would be rich. We know what's coming here. Patients will make you very happy down the road a piece.
I hope you own some. I'm in at .031. I wonder if CHNW is being diluted? What else makes sence?
Anyone watching FCCN?
LOL..This is so stupid, .0002 after news? Tell me shorts aren't winning.
DOLPHY,
I don't know about IR not responding, but I do know this. Whether this company is a scam or not, selling down here is stupid IMO. One must stay focused in a situation like this. The way I look at it is as follows, the risk reward for holding now is in our favor by a land slide. Meaning this..If you are in at a much higher average, selling now gets you almost nothing. But, I certainally wouldn't buy another share until, or unless the company proves to be legit. Consider this trade/investment a total loss for now. In your mind, write it off completely. Do what you can to get your mind off CHNW.
I trade other stocks besides CHNW. Last week I made big bucks on FORG. This week, I have made big bucks on DKAM. Now I am accumulating IFON and FCCN. If you look at IFON, the news has been great. The technicals are lined up perfectly. The two big up days were on huge volume, 11 million and 8 million shares traded on the up days, and under 2 million shares traded on the pullbacks like today. Also, IFON did a perfect .618 Fib retracement today and never broke below .618 support (or bottom) @ $5.47. It could pull back some more, but if it does, I will add more because the technicals and the news points to a new uptrend. Anyway, that's how I get my mind off CHNW which I only own 2.8 million shares. Just think about this, If by chance this company is legit, the Forex business and an OTC listing could make this stock worth a buck some day. Nothing is impossible.
Luck to us all..
rigmedic, I don't know how many it would take. Perhaps less than one would think. The NOBO list would probably tell us. I think we could pull this off. We need legal advice.
I have an idea..
I know, I said I would not post again, but I had to run this idea past everyone here.
Are there any attorneys on the board? What would happen if we formed a holding company to which we deposited all of our CHNW shares to form a single entity, perhaps even like a mutual fund? What if the newly formed entity became a majority share holder? We as individuals could elect a representative, or two, to sit on the CHNW board and watch over our interests. The holding company would own CHNW if it was a majority share holder. We would have some say in what goes on with with this company and our investment. Each person could denote a sell point for his or her shares. Any other thoughts?
Best wishes to all, and may everyone have a healthy, happy and very prosperous new year.
The bad taste in your mouth is losing money, not the truth I posted. You guys need not worry, this is my last post on this board.
Watsa matter, truth hurt? Just go back and read the panic in so many posts the last couple weeks including yours. I tried to help by pointing out that smart money was buying down here. Volume spoke loudly to what was happening. Every word I typed was truth without any personal attacks. I said what I said to help everyone of the posters on this board who do not understand how to play the markets. Why, because I have been where everyone of those scared posters are. It cost me a lot of money and sleepless nights to become a profitable trader. Now that I am, I can easily see other peoples mistakes. Fear is caused by uncertainty and doubt. The lack of a trading plan and poor money management is the direct cause. Fear clouds sound judgement and causes you to lose money.
The markets are designed to take as much money from the most amount of people in the least amount of time that it possibly can. Most lose, few win. To survive, you must become one of the few.
The three most important things to winning in the markets are:
-Become a good chart reader. It helps over 80% of the time.
-Devise a sound trading plan and stick to it. Never average down in a trade unless it was in your plan.
-Use proper money management and stick to your stops.
If you do all the above, you will become a profitable trader.
The facts:
Most of the posters on this board are clueless losers. I have to just laugh at all the follow the leader posts. Now, when people feel a little relieved, everyone is hyping and buying. A few days ago, the company was most likely going out of business (according to some paniced posters) and everyone was either selling or ready to hang themselves. No one seems to have a mind of their own.
This post isn't intended to cut the guilty down or pump myself up. Bottom line is this, most of you need to learn how to use stops. On the pinks and BB stocks it has to be mental. Money management and a trading plan are esential to your sanity. Myself, I don't usually buy pinks. But, I really liked what I saw with this company. My rule is this: If I decide to buy a risky pink stock, I only do so after doing my research. Then, I buy with the knowledge that all published info on the company is probably false or at least misleading. I plan on losing all my money on the trade. I only invest money I can afford to lose.
I have a full time job. I trade stocks as a professional hobby. Since I started trading, I blew my account out twice, losing over 250K before I figured out how to play the game. My biggest winner was TASR where I made over 350K. I ended up losing more than half of that before I figured out how to devise a plan and stick to it. My trading account is over 500K now and I just pulled 200K out and bought treasuries for my retirement. I currently hold 18 stocks with CHNW being my smallest holding at 2.3 million currently.
I really do wish all you guys the best, but if you wanna win in this game, you must get-hold of your emotions when trading the markets. The only way to accomplish that is to devise a trading plan with money management being the #1 priority. If you do it right, you will be able to win on 30% of your trades and still make great money.
I wish you all well..
Just my oponion, but if there is 50% truth in all the PR's, there's no reason this stock can't set new 52 week highs.
where do you think all that volume was coming from? I suspected as much. Like I said before when many people here were selling, or screaming about the decline in the stock price, "smart money is buying down here." Now do you people understand and believe me?
LOL, what % jump?
Hi R-money. My last buy was at .0011. I own 2 million shares. I want to buy a lot more, but the risk of losing it all here is real. I think I will wait a week or so before deciding. I am not afraid of losing what I have already invested, I just need more time to see what unfolds here before I commit more. I have to admit, things have gotten very fuzzy lately. Be that as it may, I still believe we could very well have a big winner here.
Luck to us all..
Been had? Maybe, maybe not. They seem to have divisions all over the world, they would be hard to contrive. I just have a feeling something good will happen. The web sites they own are not cheap. I can't see them being counterfeit. The payday loan business looks genuine, but I have a feeling they are not diong well cause we never hear of any related revenues. There's no proof of the Forex trading business yet. If that PR is true, this stock could be a gold mine.
Now, lets look within our selves. I have committed myself to this trade and will stick with it until I see proof of fraud. You, on the other hand, should own stocks like MSFT, GE, or XOM. Some people are not cut-out for the risk associated with owning stocks like these. Way more people lose than win with Pinkies and the likes. You should just sell and move on.
Well...What did you ask and what was their reply?
Oooops!! So much for .001. This is getting interesting.
If they were doing that, this stock would be steadily tanking. It looks to me like someone big is accumulating at the expense of people like DOLPHY. I bought more yesterday and I intend to hold no matter what happens. I think the stock is being held right here until the big guy is done. No stock trades that much volume without any movement unless it is being held. Go back and read the news, that's what it's there for. If .001 holds we are in for a great ride. .001 is critical and so far it is firm.
Maybe you should sell..
I agree with the basing action, as long as we don't break .001. Also, we could use a little more volume.
My oponion is to just wait and see if the company was blowing smoke up our asses with their "share holder concern speaches" and their business PR's, or if there is merit in what they say. Only time will tell.
Good luck..
Mr. Juice?
He was probably a short. Looks like he won, at least for now.
All BS aside, this is where losers sell, and buyers buy. The buyers believe the PR's and the sellers either panic or disbelieve the news. It is of my oponion that the company is being quiet for the benefit of buying back shares at 52 week lows. Of course, I could be wrong, it wouldn't be the first time. Myself, I'm buying down here. I will buy more on Monday. If I'm wrong, it won't break me. I follow a plan, that plan is to buy at each 33.33% down point from my last buy which was at .0015. But, this will be my last buy until I am sure the company is legit. Cramer was right about one thing, "NOBODY EVER MADE MONEY PANICING" Making money in the market isn't easy. Only the mentally tough can control their emotions in the face of uncetainty. In order to win in the markets, you must be willing to lose. Of course, you must win more than you lose.
luck to all of us!!
Pennies88
Lazy people make me ill. Do your own DD. All you have to do is read to get your answers.
You must be listening to my thoughts. I could be wrong, but I really think we have a chance here. I think the recent acquisition is what has caused the stock to crater. I think the holders of the restricted stock have shorted the common. But, it looks like most of that could be done now. Also, we have a double bottom in place the last couple days at .001. If .001 continues to hold, we are in good shape. Are chances of making big money here are very good, people just need to hang in there.
I work during the day so I don't usually have time to post. But, I do have access to a computer and I do monitor this board during the day. If anyone talks to the company, please let us know what's said. TIA
It's just so hard to trust pimk sheet management. I have seen fraud before on a few different occasions with pinky stocks. We'll just have to wait and see what happens. What bothers me is the lack of filing. We have no idea about the companies financial health. I bought because of the up-beat PR's. But, I bought knowing the risks and I intend to hold till I make a bundle, or until the company no longer exists. The latter is most likely at this juncture, especially if the company is no longer answering the phone.
As long as the company stays in business, we have a very good chance to come out ok here. If the company launches a true Forex trading platform in Q1 07, revenues will follow. I am looking forward to seeing that PR come to fruition.
Otherwise, my plan is to buy more as it falls. I'm not going nuts incase the bottom falls out for real. But, until I see actual evidence of fraud, I'm treating this one as a long-term hold. Just think, if all the PR's the company has issued comes to pass, we could easily see $1. But, I'd probably be gone with a dime. Nice to dream huh?