TelVue is a winner
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Gerry Lenfest will go from owning about 80% of the stock to owning about 90% of the stock. How is that dilution?
I'm not worried and I won't be selling any of my holdings any time soon.
Go TEVE.
Overstock.com Announces Court Declines to Seal Evidence in Goldman Sachs/Merrill Lynch Case
There is a tape of every transaction on every publicly traded security. Why would screen shots of TEVE be different then the tape?
Please welcome 4kids_9pets as a moderator for this board.
She is truly a great addition.
True investors of TEVE should membermark her.
Jack
I read it alright.
The 48M float (37M of which is owned by Lenfest and another several million by company insiders) becomes 240,000 shares at 1 for 200.
Any more added to the float will also be reduced by a factor of 200.
How many companies in the OTC have such a low float?
And what makes you think Gerry will allow someone to buy controlling interest in the stock? He will have 90% of the stock per the proxy. Leaves 10% for the rest of us.
I'd call that SCARCE.
Things that are SCARCE are VALUABLE.
Yes apples and oranges. Like the statement about the dilution. The change is in AUTHORIZED shares, not the float.
Data will paste into Excel.
SETTLEMENT DATE CUSIP SYMBOL QUANTITY (FAILS) DESCRIPTION PRICE
20080728 87970K108 TEVE 30700 TELVUE CORP 0.03
20080729 87970K108 TEVE 48500 TELVUE CORP 0.03
20080730 87970K108 TEVE 48500 TELVUE CORP 0.03
20080731 87970K108 TEVE 48500 TELVUE CORP 0.03
20080801 87970K108 TEVE 48500 TELVUE CORP 0.03
20080804 87970K108 TEVE 48500 TELVUE CORP 0.02
20080805 87970K108 TEVE 48500 TELVUE CORP 0.02
20080806 87970K108 TEVE 48500 TELVUE CORP 0.02
20080807 87970K108 TEVE 48500 TELVUE CORP 0.02
20080808 87970K108 TEVE 48500 TELVUE CORP 0.02
20080811 87970K108 TEVE 48500 TELVUE CORP 0.02
20080812 87970K108 TEVE 48500 TELVUE CORP 0.02
20080813 87970K108 TEVE 48500 TELVUE CORP 0.02
20080814 87970K108 TEVE 48500 TELVUE CORP 0.02
20080815 87970K108 TEVE 48500 TELVUE CORP 0.02
20080818 87970K108 TEVE 48500 TELVUE CORP 0.02
20080819 87970K108 TEVE 48500 TELVUE CORP 0.02
20080820 87970K108 TEVE 48500 TELVUE CORP 0.02
20080821 87970K108 TEVE 48500 TELVUE CORP 0.02
20080822 87970K108 TEVE 48500 TELVUE CORP 0.02
20080825 87970K108 TEVE 48500 TELVUE CORP 0.02
20090708 87970K108 TEVE 3431 TELVUE CORP 0.20
20090709 87970K108 TEVE 4781 TELVUE CORP 0.11
20090710 87970K108 TEVE 350 TELVUE CORP 0.17
20090713 87970K108 TEVE 350 TELVUE CORP 0.19
20090714 87970K108 TEVE 350 TELVUE CORP 0.11
20090724 87970K108 TEVE 1550 TELVUE CORP 0.12
20090727 87970K108 TEVE 1550 TELVUE CORP 0.12
20090728 87970K108 TEVE 1550 TELVUE CORP 0.16
20090729 87970K108 TEVE 1550 TELVUE CORP 0.16
20090805 87970K108 TEVE 2850 TELVUE CORP 0.12
20090806 87970K108 TEVE 2850 TELVUE CORP 0.12
20090807 87970K108 TEVE 2850 TELVUE CORP 0.12
20090810 87970K108 TEVE 2850 TELVUE CORP 0.16
20090902 87970K108 TEVE 2775 TELVUE CORP 0.17
20090903 87970K108 TEVE 2775 TELVUE CORP 0.05
20090904 87970K108 TEVE 2775 TELVUE CORP 0.14
20090908 87970K108 TEVE 2775 TELVUE CORP 0.17
20090909 87970K108 TEVE 2775 TELVUE CORP 0.06
20090925 87970K108 TEVE 7486 TELVUE CORP 0.12
20100416 87970K108 TEVE 4 TELVUE CORP 0.02
20100419 87970K108 TEVE 4 TELVUE CORP 0.02
20100420 87970K108 TEVE 4 TELVUE CORP 0.14
20100421 87970K108 TEVE 4 TELVUE CORP 0.14
20100616 87970K108 TEVE 10000 TELVUE CORP 0.02
20100713 87970K108 TEVE 1500 TELVUE CORP 0.02
20100722 87970K108 TEVE 2489 TELVUE CORP 0.02
20100723 87970K108 TEVE 2489 TELVUE CORP 0.02
20100726 87970K108 TEVE 2489 TELVUE CORP 0.02
20100727 87970K108 TEVE 2489 TELVUE CORP 0.14
20100728 87970K108 TEVE 2489 TELVUE CORP 0.02
20100809 87970K108 TEVE 10 TELVUE CORP 0.40
20100810 87970K108 TEVE 10 TELVUE CORP 0.20
20100901 87970K108 TEVE 440 TELVUE CORP 0.18
20100902 87970K108 TEVE 3790 TELVUE CORP 0.35
20100903 87970K108 TEVE 13790 TELVUE CORP 0.35
20100907 87970K108 TEVE 13790 TELVUE CORP 0.18
20100908 87970K108 TEVE 13790 TELVUE CORP 0.18
20100910 87970K108 TEVE 3940 TELVUE CORP 0.35
20100913 87970K108 TEVE 13384 TELVUE CORP 0.35
20100914 87970K108 TEVE 13384 TELVUE CORP 0.35
20100915 87970K108 TEVE 13384 TELVUE CORP 0.19
20100916 87970K108 TEVE 13384 TELVUE CORP 0.35
20101008 87970K108 TEVE 363 TELVUE CORP 1.50
20101012 87970K108 TEVE 363 TELVUE CORP 1.50
20101013 87970K108 TEVE 363 TELVUE CORP 1.50
20101014 87970K108 TEVE 363 TELVUE CORP 0.16
20101015 87970K108 TEVE 363 TELVUE CORP 1.50
20101026 87970K108 TEVE 4900 TELVUE CORP 0.16
20101027 87970K108 TEVE 4900 TELVUE CORP 1.50
20101028 87970K108 TEVE 9900 TELVUE CORP 0.16
20101029 87970K108 TEVE 9900 TELVUE CORP 0.18
20101101 87970K108 TEVE 19900 TELVUE CORP 0.18
20101103 87970K108 TEVE 9600 TELVUE CORP 0.16
20101104 87970K108 TEVE 9600 TELVUE CORP 0.18
20101105 87970K108 TEVE 2600 TELVUE CORP 0.18
20101108 87970K108 TEVE 2600 TELVUE CORP 0.18
20101109 87970K108 TEVE 11600 TELVUE CORP 0.18
20110210 87970K108 TEVE 1621 TELVUE CORP 0.17
20110211 87970K108 TEVE 3421 TELVUE CORP 0.17
20110214 87970K108 TEVE 3421 TELVUE CORP 0.17
20110215 87970K108 TEVE 3421 TELVUE CORP 0.17
20110216 87970K108 TEVE 3421 TELVUE CORP 0.15
20110218 87970K108 TEVE 2500 TELVUE CORP 0.17
20110222 87970K108 TEVE 4350 TELVUE CORP 0.10
20110223 87970K108 TEVE 350 TELVUE CORP 0.17
20110224 87970K108 TEVE 350 TELVUE CORP 0.13
20110225 87970K108 TEVE 350 TELVUE CORP 0.13
20110228 87970K108 TEVE 1361 TELVUE CORP 0.08
20110307 87970K108 TEVE 575 TELVUE CORP 0.17
20110308 87970K108 TEVE 575 TELVUE CORP 0.17
20110311 87970K108 TEVE 875 TELVUE CORP 0.18
20110325 87970K108 TEVE 160 TELVUE CORP 0.18
20110328 87970K108 TEVE 8560 TELVUE CORP 0.18
20110329 87970K108 TEVE 10760 TELVUE CORP 0.19
20110330 87970K108 TEVE 12015 TELVUE CORP 0.49
20110331 87970K108 TEVE 415 TELVUE CORP 0.35
20110420 87970K108 TEVE 2577 TELVUE CORP 0.15
20110720 87970K108 TEVE 127 TELVUE CORP 0.20
20110721 87970K108 TEVE 127 TELVUE CORP 0.07
20110722 87970K108 TEVE 127 TELVUE CORP 0.20
20110725 87970K108 TEVE 127 TELVUE CORP 0.18
20110726 87970K108 TEVE 127 TELVUE CORP 0.20
20110906 87970K108 TEVE 206 TELVUE CORP 0.24
20111007 87970K108 TEVE 1185 TELVUE CORP 0.07
20111011 87970K108 TEVE 1185 TELVUE CORP 0.07
20111026 87970K108 TEVE 585 TELVUE CORP 0.07
20111027 87970K108 TEVE 585 TELVUE CORP 0.07
20111028 87970K108 TEVE 585 TELVUE CORP 0.07
20111031 87970K108 TEVE 585 TELVUE CORP 0.20
20111101 87970K108 TEVE 585 TELVUE CORP 0.20
20111108 87970K108 TEVE 510 TELVUE CORP 0.28
20111109 87970K108 TEVE 1810 TELVUE CORP 0.28
20111110 87970K108 TEVE 1910 TELVUE CORP 0.28
20111114 87970K108 TEVE 2910 TELVUE CORP 0.24
20111115 87970K108 TEVE 324 TELVUE CORP 0.24
20111117 87970K108 TEVE 628 TELVUE CORP 0.25
20111118 87970K108 TEVE 628 TELVUE CORP 0.07
20111215 87970K108 TEVE 429 TELVUE CORP 0.08
20111221 87970K108 TEVE 95 TELVUE CORP 0.08
20111222 87970K108 TEVE 95 TELVUE CORP 0.12
20111223 87970K108 TEVE 95 TELVUE CORP 0.13
20111227 87970K108 TEVE 1695 TELVUE CORP 0.09
20111228 87970K108 TEVE 945 TELVUE CORP 0.09
20111229 87970K108 TEVE 945 TELVUE CORP 0.19
20111230 87970K108 TEVE 945 TELVUE CORP 0.20
20120103 87970K108 TEVE 16508 TELVUE CORP 0.20
20120126 87970K108 TEVE 200 TELVUE CORP 0.19
20120127 87970K108 TEVE 200 TELVUE CORP 0.19
Fails to Deliver Reports are available on SEC.gov.
There are ways to stay off the report but that hasn't prevented the market makers from slipping up occasionally and landing on this report.
RED FLAG if the market makers cannot locate and deliver the shares they are selling.
This report is false.
Here's a more correct one.
20120103|87970K108|TEVE|16508|TELVUE CORP|0.20
from the SEC Fails to Deliver Report.
Two words Agribusiness72: SAFE HARBOR.
I am sure you are familiar with that concept.
IBM is perhaps one of the strongest companies in the world at this time. Here's an excerpt from their last 10K.
I think reading this you will find the wording of TelVue's safe harbor statement is quite tame and reasonable compared to this from IBM:
Item 1A. Risk Factors:
Downturn in Economic Environment and Corporate IT Spending Budgets could impact the Company's Business: If overall demand for systems, software and services decreases, whether due to general economic conditions or a shift in corporate buying patterns, the company's revenue and profit could be impacted.
The Company may not meet its Growth and Productivity Objectives under its Internal Business Transformation and Global Integration Initiatives: On an ongoing basis, IBM seeks to drive greater productivity, flexibility and cost savings by transforming and globally integrating its own business processes and functions to remain competitive and to enable scaling of resources and offerings in both emerging and more established markets. These various initiatives may not yield their intended gains in quality, productivity and enablement of rapid scaling, which may impact the company's competitiveness and its ability to meet its growth and productivity objectives.
Failure of Innovation Initiatives could impact the Long-Term Success of the Company: IBM has been moving away from certain segments of the IT industry and into areas in which it can differentiate itself
11
through innovation and by leveraging its investments in R&D. If IBM is unable to continue its cutting-edge innovation in a highly competitive environment, the company could fail in its ongoing efforts to maintain and increase its market share and its profit margins. In addition, IBM has one of the strongest brand names in the world, and its brand and overall reputation could be negatively impacted by many factors, including if the company does not continue to be recognized for its industry-leading technology and solutions. If the company's brand image is tarnished by negative perceptions, our ability to attract and retain customers could be impacted.
Risks from Investing in Growth Opportunities could impact the Company's Business: The company continues to invest significantly in growth opportunities, including higher-value segments of enterprise computing and dozens of emerging countries to drive revenue growth and market share gains. Client adoption rates and viable economic models are uncertain in the high-value and rapidly-growing segments. In addition, as the company expands to capture emerging growth opportunities, it needs to rapidly secure the appropriate mix of trained, skilled and experienced personnel. In emerging growth countries, the developing nature presents potential political, social, legal and economic risks from inadequate infrastructure, creditworthiness of customers and business partners, labor disruption and corruption, which could impact the company's ability to meet its growth objectives and to deliver to its clients around the world.
IBM's Intellectual Property Portfolio may not prevent Competitive Offerings, and IBM may not be able to Obtain Necessary Licenses: The company's patents and other intellectual property may not prevent competitors from independently developing products and services similar to or duplicative to the company's, nor can there be any assurance that the resources invested by the company to protect its intellectual property will be sufficient or that the company's intellectual property portfolio will adequately deter misappropriation or improper use of the company's technology. In addition, the company may be the target of aggressive and opportunistic enforcement of patents by third parties, including non-practicing entities. Also, there can be no assurances that IBM will be able to obtain from third parties the licenses it needs in the future.
Cybersecurity and Privacy Considerations could impact the Company's Business: The company's products, services, and systems may affect critical third party operations or involve the storage, processing and transmission of proprietary information and sensitive or confidential data, including personal information of employees, customers and others. Breaches of security could expose the company, its customers or others to risks of loss, including the misuse of information or systems, resulting in litigation and potential liability for the company, as well as the loss of existing or potential customers and damage to the company's brand and reputation. In addition, the cost and operational consequences of implementing further data protection measures could be significant. Also, the company could be negatively impacted by existing and proposed laws and regulations related to privacy and data protection.
The Company's Financial Results for Particular Periods are Difficult to Predict: IBM's revenues are affected by such factors as the introduction of new products and services, the length of the sales cycles and the seasonality of technology purchases. The company's financial results may also be impacted by the structure of products and services contracts and the nature of its customers' businesses; for example, certain of the company's services contracts with commercial customers in regulated industries are subject to periodic review by regulators with respect to controls and processes. As a result of the above-mentioned factors, the company's financial results are difficult to predict. Historically, the company has had lower revenue in the first quarter than in the immediately preceding fourth quarter. In addition, the high volume of products typically ordered at the end of each quarter, especially at the end of the fourth quarter, may affect IBM's ability to successfully ship all orders before the end of the quarter.
12
Due to the Company's Global Presence, its Business and Operations could be impacted by Local Legal, Economic, Political and Health Conditions: The company is a globally integrated entity, operating in over 170 countries worldwide and deriving more than sixty percent of its revenues from sales outside the United States. Changes in the laws or policies of the countries in which the company operates, or inadequate enforcement of laws or policies, could affect the company's business and the company's overall results of operations. The company's results of operations also could be affected by economic and political changes in those countries and by macroeconomic changes, including recessions, inflation and currency fluctuations between the U.S. dollar and non-U.S. currencies. Further, as the company expands its customer base and the scope of its offerings, both within the U.S. and globally, it may be impacted by additional regulatory or other risks. In addition, any widespread outbreak of an illness, pandemic or other local or global health issue, or any terrorist activities, could adversely affect customer demand and the company's operations and its ability to source and deliver products and services to its customers.
The Company could incur Substantial Costs for Environmental Matters: The company is subject to various federal, state, local and foreign laws and regulations concerning the discharge of materials into the environment or otherwise related to environmental protection, including the U.S. Superfund law. The company could incur substantial costs, including cleanup costs, fines and civil or criminal sanctions, as well as third-party claims for property damage or personal injury, if it were to violate or become liable under environmental laws and regulations. Compliance with environmental laws and regulations is not expected to have a material adverse effect on the company's financial position, results of operations and competitive position.
Tax Matters could impact the Company's Results of Operations and Financial Condition: The company is subject to income taxes in both the United States and numerous foreign jurisdictions. IBM's provision for income taxes and cash tax liability in the future could be adversely affected by numerous factors including, but not limited to, income before taxes being lower than anticipated in countries with lower statutory tax rates and higher than anticipated in countries with higher statutory tax rates, changes in the valuation of deferred tax assets and liabilities, and changes in tax laws, regulations, accounting principles or interpretations thereof, which could adversely impact the company's results of operations and financial condition in future periods. In addition, IBM is subject to the continuous examination of its income tax returns by the United States Internal Revenue Service and other tax authorities. The company regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of its provision for income taxes. There can be no assurance that the outcomes from these continuous examinations will not have an adverse effect on the company's provision for income taxes and cash tax liability.
The Company's Results of Operations and Financial Condition could be negatively impacted by its U.S. and non-U.S. Pension Plans: Adverse equity market conditions and volatility in the credit markets may have an unfavorable impact on the value of the company's pension trust assets and its future estimated pension liabilities. As a result, the company's financial results in any period could be negatively impacted. In addition, in a period of an extended financial market downturn, the company could be required to provide incremental pension plan funding with resulting liquidity risk which could negatively impact the company's financial flexibility. Further, the company's results of operations and financial results could be negatively impacted by premiums for mandatory pension insolvency insurance coverage outside the U.S. Premium increases can be significant due to the level of insolvencies of unrelated companies in the country at issue. Currently, Canada, Germany, Luxembourg and the United Kingdom require that these premiums be paid directly by the company and not out of plan assets, which could negatively impact the company's earnings. IBM's 2011 Annual Report to Stockholders includes information about potential impacts from pension funding and the use of certain assumptions regarding pension matters.
13
Ineffective Internal Controls could impact the Company's Business and Operating Results: The company's internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud. Even effective internal controls can provide only reasonable assurance with respect to the preparation and fair presentation of financial statements. If the company fails to maintain the adequacy of its internal controls, including any failure to implement required new or improved controls, or if the company experiences difficulties in their implementation, the company's business and operating results could be harmed and the company could fail to meet its financial reporting obligations.
The Company's Use of Accounting Estimates involves Judgment and could impact the Company's Financial Results: The application of generally accepted accounting principles requires the company to make estimates and assumptions about certain items and future events that directly affect its reported financial condition. The company's most critical accounting estimates are described in the Management Discussion in IBM's 2011 Annual Report to Stockholders, under "Critical Accounting Estimates." In addition, as discussed in note M, "Contingencies and Commitments," in IBM's 2011 Annual Report to Stockholders, the company makes certain estimates including decisions related to legal proceedings and reserves. These estimates and assumptions involve the use of judgment. As a result, actual financial results may differ.
The Company Depends on Skilled Personnel and could be impacted by the loss of Critical Skills: Much of the future success of the company depends on the continued service, availability and integrity of skilled personnel, including technical, marketing and staff resources. Experienced personnel in the information technology industry are in high demand, and competition for their talents is intense. Changing demographics and labor work force trends may result in a loss of knowledge and skills as experienced workers leave the company. In addition, as global opportunities and industry demand shifts, realignment, training and scaling of skilled resources may not be sufficiently rapid. Further, many of IBM's key personnel receive a total compensation package that includes equity awards. New regulations, volatility in the stock market and other factors could diminish the company's use, and the value, of the company's equity awards, putting the company at a competitive disadvantage or forcing the company to use more cash compensation.
The Company's Business could be impacted by its Relationships with Critical Suppliers: IBM's business employs a wide variety of components, supplies, services and raw materials from a substantial number of suppliers around the world. Certain of the company's businesses rely on single or a limited number of suppliers. Changes in the financial or business condition of these suppliers could subject the company to losses and affect its ability to bring products to market. Further, the failure of the company's suppliers to deliver components, supplies, services and raw materials in sufficient quantities and in a timely manner could adversely affect the company's business. In addition, any defective components, supplies or materials, or inadequate services, received from suppliers could reduce the reliability of the company's products and services and harm the company's reputation.
The Company could be impacted by its Business with Government Clients: The company's customers include numerous governmental entities within and outside the U.S., including the U.S. Federal Government and state and local entities. Some of the company's agreements with these customers may be subject to periodic funding approval. Also, some agreements may contain provisions allowing the customer to terminate without cause and providing for higher liability limits for certain losses. In addition, the company could be suspended or debarred as a governmental contractor and could incur civil and criminal fines and penalties, which could negatively impact the company's results of operations and financial results.
The Company is exposed to Currency and Customer Financing Risks that could impact its Revenue and Business: The company derives a significant percentage of its revenues and costs from its affiliates
14
operating in local currency environments, and those results are affected by changes in the relative values of non-U.S. currencies and the U.S. dollar. Further, inherent in the company's customer financing business are risks related to the concentration of credit, client creditworthiness, interest rate and currency fluctuations on the associated debt and liabilities, the determination of residual values and the financing of other than traditional IT assets. The company employs a number of strategies to manage these risks, including the use of derivative financial instruments; derivatives involve the risk of non-performance by the counterparty. In addition, there can be no assurance that the company's efforts to manage its currency and customer financing risks will be successful.
The Company's Financial Performance could be impacted by Changes in Market Liquidity Conditions and by Customer Credit Risk on Receivables: The company's financial performance is exposed to a wide variety of industry sector dynamics worldwide. The company's earnings and cash flows, as well as its access to funding, could be negatively impacted by changes in market liquidity conditions. IBM's 2011 Annual Report to Stockholders includes information about the company's liquidity position. The company's client base includes many worldwide enterprises, from small and medium businesses to the world's largest organizations and governments, with a significant portion of the company's revenue coming from global clients across many sectors. Most of the company's sales are on an open credit basis, and the company performs ongoing credit evaluations of its clients' financial conditions. If the company becomes aware of information related to the creditworthiness of a major customer, or, if future actual default rates on receivables in general differ from those currently anticipated, the company may have to adjust its allowance for credit losses, which could affect the company's consolidated net income in the period the adjustments are made.
The Company's Reliance on Third Party Distribution Channels could impact its Business: The company offers its products directly and through a variety of third party distributors and resellers. Changes in the financial or business condition of these distributors and resellers could subject the company to losses and affect its ability to bring its products to market. As the company moves into new areas, distributors and resellers may be unable to keep up with changes in technology and offerings, and the company may be unable to recruit and enable appropriate partners to achieve growth objectives.
Risks to the Company from Acquisitions and Alliances include Integration Challenges, Failure to Achieve Objectives, and the Assumption of Liabilities: The company has made and expects to continue to make acquisitions or enter into alliances. Acquisitions and alliances present significant challenges and risks relating to the integration of the business into the company, and there can be no assurances that the company will manage acquisitions and alliances successfully. The related risks include the company failing to achieve strategic objectives and anticipated revenue improvements and cost savings, as well as the failure to retain key personnel of the acquired business and the assumption of liabilities related to litigation or other legal proceedings involving the acquired business.
Risk Factors Related to IBM Securities: The company and its subsidiaries issue debt securities in the worldwide capital markets from time to time, with a variety of different maturities and in different currencies. The value of the company's debt securities fluctuates based on many factors, including the methods employed for calculating principal and interest, the maturity of the securities, the aggregate principal amount of securities outstanding, the redemption features for the securities, the level, direction and volatility of interest rates, changes in exchange rates, exchange controls, governmental and stock exchange regulations and other factors over which the company has little or no control. The company's ability to pay interest and repay the principal for its debt securities is dependent upon its ability to manage its business operations, as well as the other risks described under this Item 1A. entitled "Risk Factors." There can be no assurance that the company will be able to manage any of these risks successfully.
15
The company also issues its common stock from time to time in connection with various compensation plans, contributions to its pension plan and certain acquisitions. The market price of IBM common stock is subject to significant volatility, due to other factors described under this Item 1A. entitled "Risk Factors," as well as economic and geopolitical conditions generally, trading volumes, speculation by the press or investment community about the company's financial condition, and other factors, many of which are beyond the company's control. Since the market price of IBM's common stock fluctuates significantly, stockholders may not be able to sell the company's stock at attractive prices.
In addition, changes by any rating agency to the company's outlook or credit ratings can negatively impact the value and liquidity of both the company's debt and equity securities. The company does not make a market in either its debt or equity securities and cannot provide any assurances with respect to the liquidity or value of such securities.
It is disgraceful to pick and choose whose orders you will fill and whose you will not. People who want a stock should be able to get it. How do some consumers pay 42 cents and others pay 35 cents? If I did that where I work, the Attorney General would be all over it.
The bid was 15 cents all day and the ask was 42 cents all day yet there were THREE transactions at 35 cents?
How does that work?
What's disgraceful is that someone else got shares at .35 and yet you didn't. How is that fair?
Joe, please post a closing level 2.
Sometimes the "me" generation is smarter than their elders.
Go TEVE.
So who's getting these bidwhacks at 35 cents?
Lucky dog.
TEVE
http://www.sec.gov/spotlight/keyregshoissues.htm
II. "Naked" Short Sales
In a "naked" short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard three-day settlement period. 3 As a result, the seller fails to deliver securities to the buyer when delivery is due (known as a "failure to deliver" or "fail").
Failures to deliver may result from either a short or a long sale. There may be legitimate reasons for a failure to deliver. For example, human or mechanical errors or processing delays can result from transferring securities in physical certificate rather than book-entry form, thus causing a failure to deliver on a long sale within the normal three-day settlement period. A fail may also result from naked short selling. For example, market makers who sell short thinly traded, illiquid stock in response to customer demand may encounter difficulty in obtaining securities when the time for delivery arrives.
Naked short selling is not necessarily a violation of the federal securities laws or the Commission's rules. Indeed, in certain circumstances, naked short selling contributes to market liquidity. For example, broker-dealers that make a market in a security4 generally stand ready to buy and sell the security on a regular and continuous basis at a publicly quoted price, even when there are no other buyers or sellers. Thus, market makers must sell a security to a buyer even when there are temporary shortages of that security available in the market. This may occur, for example, if there is a sudden surge in buying interest in that security, or if few investors are selling the security at that time. Because it may take a market maker considerable time to purchase or arrange to borrow the security, a market maker engaged in bona fide market making, particularly in a fast-moving market, may need to sell the security short without having arranged to borrow shares. This is especially true for market makers in thinly traded, illiquid stocks such as securities quoted on the OTC Bulletin Board,5 as there may be few shares available to purchase or borrow at a given time.
An old article but this explains the "think" over at Knight. They do what they want over there anyways.
http://www.bloomberg.com/news/2010-09-27/knight-capital-urges-short-selling-leniency-for-u-s-stock-market-makers.html
You are entitled to your opinion.
I for one do not share it.
welcome to our board rowgr. i am happy to have you here. You may get your shares at 35 tomorrow. they will try to take this down again tomorrow - usually going for a less than 10% drop. They thought someone would buy some and take it back up a little and no one did so they were down 19% today. if the rules are being followed as i understand them, they now have 10 days to come up with the shares shorted today.
nope in a couple weeks.
I cannot wait for the RegSHO report tonight and the new FTD list to come out.
thanks for taking such an active interest. i will be buying more later this week.
I wonder who the lucky guy is that got in that 35 cent bidwhack.
Thanks for encouraging us to sell and "take profit" for those of us that got our first shares around 9-17 cents a share.
Three problems with that.
1) We're not going to sell. Forget it.
2) None of the market makers is willing to raise the bid enough to make it possible TO sell at a profit. The spread over here is always ludicrous and is part of the games they play to scare people off.
3) TelVue shareholders don't sell TelVue. Period.
This one is where I get all the money back those stupid market makers took from me on other stocks, one in particular you know about.
I wish I had your money as I too would be buying as much as I could get my hands on. I do believe that NITE and the other market makers - mostly AUTO who is NITE's b*tch - did not count on the enthusiasm of TEVE investors. There are not many of us, be we sure as dedicated.
This is the article that applies:
http://www.birdsnest.com/garcia.htm
This is a super interesting point which might also help explain TEVE gains starting at the end of February.
Surveillance and Examination of Regulation SHO Requirements
NASD will be closely monitoring member activity for compliance with the Regulation SHO requirements and members will be expected to be in compliance with the Regulation SHO requirements as of the January 3, 2005 compliance date. Among other things, NASD is developing surveillance programs that will track the level and duration of CNS fails by members. To the extent such fails are not closed out within the requisite time period, NASD will be reviewing the actions taken by the member to close out the fails, which should be clearly documented by the member. Similarly, NASD will be reviewing member activities to ensure that members have complied with the marking, locate, and pre-borrow requirements, as applicable. Accordingly, NASD's member examination program will include reviews for compliance with each applicable rule in Regulation SHO.
In addition, NASD Rule 3010 requires that members establish and maintain a supervisory system that is designed to ensure compliance with the NASD rules and the federal securities laws. Accordingly, NASD will be examining closely members' supervisory systems and written supervisory procedures relating to Regulation SHO and, where appropriate, will initiate disciplinary action against firms and their supervisory personnel for failure to adopt, implement, and enforce appropriate supervisory procedures.
This then is truly amazing. As normally Scottrade, which uses NITE primarily, executes in seconds.
Hock what broker did you use? Looks like your 500 was the only sale to not be on the RegSHO today.
I'm still here but I have my hands full with the other board and that battle will be over soon.
Mike owes us news and financials and I told him to get on the stick and get them to us.
Don't be afraid to get them below Ask if you can. Honestly we won't hate you if you bidwhack the thing - it might help others who have been sitting on the fence to buy in cheaper and we know it will go back up anyways.
Oh and just as a reminder, this is just SOME idea of how short shorty already is. I think we can safely say that with the low, low volume on this stock, not even a fraction of this has been covered.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72704848
I cannot tell you how much I appreciate your insights into level 2 and the existence of your market maker games board.
Qtipjoe originally opened my eyes to this and I have learned so much since between my experience with TEVE and CPOW and reading your board.
I believe I can see the strategy now:
1) Offer shares at lower and lower Ask in the hopes of turning off the buying pressure from existing shareholders. There are really just about a dozen of us actively buying over here and some are small fishes (like me).
2) Try to drop it daily without going lower than 10% less each day, since when there is shorting and a 10% or larger drop there is a FINRA reg somewhere requiring a cover within 13 days.
3) Send more people to the board hoping to persuade longs that things are going badly. Litter the board but also use PMs. I have had an amazing number of PMs from people I never heard of, all "new" I Hub members (like a few days ago new) "concerned" about what is happening here.
4) Discourage new investors from coming in by having the stock going down daily, even if it's by small amounts (like today), since people see Red and think it's the wrong time to buy.
I think the sad thing - for THEM - is that if they lower this Ask much more I will be able to get more shares again. I cannot afford them at 50 cents -- $100 gets me 50 shares and I need to be buying in blocks of 200 shares, since the Reverse Split is 1 for 200.