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Once Citigroup (C) has been broken up, America will have two big financial supermarkets: Bank of America (BAC) and JP Morgan Chase (JPM). There are many differences between them, but a very big one is their track record when it comes to recent acquisitions. Look at this morning's news: Bank of America said it couldn't even close its Merrill Lynch acquisition without substantial extra government help, and is likely to get billions of dollars in federal guarantees. JP Morgan, by contrast, is relying on its recent acquisition of Washington Mutual to keep it in the black:
J.P. Morgan reported net income of $702 million, or seven cents a share, down from $2.97 billion, or 86 cents a share, a year earlier. The latest results included $1.1 billion in gains related to the purchase, along with $853 million in hedging gains on its mortgage-servicing rights.
Excluding the WaMu gain, J.P. Morgan said it would have lost 28 cents a share.
very very true
I believe a shell is when there is no company actually operating in it, and another company is looking to get into the market to raise capital and the shell owner is able to sell to the other company.
I have heard it is at least $150,000 to buy one of these shells, and I don't know, but I think it is easier to go this route then to start a whole new one.
I just can't believe (well I actually can because I have learned much more about pink sheet stocks now) that a CEO would put out his last PR in like December of 2006 or January 2007, about we are going to do this and that and revenue projections, and then 2+ years later, just not hear one word about the company a lot of people invested in.
How that is legal in this country or any country is besides me.
SEC needs a big overhaul and lots, I mean LOTS, of these people need to be put in jail for at least 25 years to life. If people know that you can possibly go to jail for the rest of your life, it will help prevent a lot of this going on. And no one should be able to just "close up shop" without a PR or some other kind of communication be released. We shouldn't have to be "tracking down" these guys, that is what law enforcement is for.
If this could ever get to .05-.10 for no reason, I would be set :)
Come on someone buy the shell and get it up there
Question:
I was reading this about the Citi situation on CNN.com:
Citi's single biggest problem is the small reach of its retail banking business in the U.S. Citi has only around 800 domestic branches and just 2% of U.S. deposits. By contrast, Bank of America boasts over 6000 branches and controls 14% of deposits. B of A, JP Morgan, and Wells Fargo have all built coast-to-coast franchises in the last several years, while Citi fiddled.
As recently as a few months ago, it looked as though Citi could finally build a national presence through a merger with Wachovia. But at the last minute, Wells swooped in and won Wachovia. Losing that deal is a major reason Citi's future is now so cloudy.
Do you think it is possible after WAMUQ gets resolved it is a possibilty that they would be interested in us?
For discussion purposes
Thanks for the update, Dave. If you and Jason actually make contact, let him know that I am open to a financial settlement (sure chef would be too!) :)
Hot Web, Inc. Enters Agreement With Sarissa Resources to Acquire Interest in Shining Tree PropertyFont size: A | A | A9:59 AM ET 1/13/09 | GlobeNewswire
RELATED QUOTES
10:07 AM ET 1/13/09
Symbol Last % Chg
HWBI 0.00 0.00%
SRSR 0.03 -2.86%
Real time quote.
Hot Web, Inc. (Pink Sheets:HWBI) announced today that the Company has entered into an option agreement with Sarissa Resources, Inc. (Pink Sheets:SRSR) to earn up to a 50% interest in the Claims located in the townships of Asquith and Churchill in the Province of Ontario, generally known as the "Shining Tree Property". The 50% "earn-in" interest will require Hot Web to fund expenditures to begin exploring and drilling the property. Sarissa Resources will retain a 50% interest in the property and will act as property operator.
Jason Cooper, Interim CEO of Hot Web, Inc., commented, "We are very excited about taking our first step into mineral exploration alongside Sarissa. I have seen first hand the abilities, credibility and resources that Sarissa and its President Scott Keevil has in the world of exploration."
Cooper further stated, "Most mining companies have more projects than they can fund or handle, from an operations standpoint, at any one time. This creates a tremendous opportunity for us to partner with these companies to bring those "back burner" projects to the front of the line. I will continue to work with current and past clients of Presage to capitalize on such projects."
As part of this new direction, the Company will shortly be affecting a name change and the current slate of directors will be resigning and a new group nominated.
OH YEAH BABY
great job by everyone connecting the dots.
Huge 2009
Thank you Dallas, appreciate it
It has been pointed out constantly, please put it in the IBOX and become a moderator if you would like. I am all for facts, but all views and opinions should be taken and not personally attacked.
Thank you for your cooperation in a fair board with all views respected.
Thank you penny for your thoughtful response, all views should be respected.
Thanks Chef. Yeah I think we were optimistic when we actually did some DD and saw some hope.
As it became clear, I think we both did what we could to level that off, once we started finding out the truth.
I know we never told anyone to buy or sell, I think I wrote long stuff re-iterating that :)
We were all pretty much duped, but glad to have met you and some others in here.
Look forward to making money in other places.
Just an FYI preferred stocks are areas I seem to be doing pretty well, and most pay a nice dividend too.
Might want to start looking into that area, most of the big board stocks have some kind of preferred stocks.
A new board was just created for it to, and I probably will be spending some time over there for a while, as well, if you or anyone else wants to check in, while we wait for this to come back to life or see pictures of the BOD in orange jump suits :)
Thanks for adding that link, I think it will be very helpful to all of us that are interested in the preferreds
Who are all these pumpers that keep getting mentioned? I have been here for well over a year, and haven't seen any. If when it was going up people got excited and that is called pumping then, yeah, call many pumpers.
That is not my definition, people that ENCOURAGE HIGHLY TO BUY BUY BUY, and tell people they are stupid for not buying, then yes, those are pumpers.
If someone wants to make a trade, then that can be discussed as well, I am sure.
I haven't seen that, but I sure see spamming of the same comments over and over by the few that have hijacked this board without any serious ideas and intelligent thought.
But, hey to each there own
Agree with you penny
Preferreds seem to be the way to go with a nice hold position in this (commons) for a few years.
I have been playing the preferreds and the swings are spectacular if you can get in at the right times, many to choose from so play each one when they dip
That is awesome
Garza if you can put that on the homepage that would be a great resource for us
Do you have the direct link or can you cut and paste the stocks they mentioned
thanks!
FRE.PR.G up 85%
1 buy away from ask to $1.75.
FRE.PR.G up 57%
Freddie preferred
Hit the ask and gets .20-.30 movements
Beautiful play , watch all the preferreds for FNM and FRE
FYI FRE.PR.G continuing to climb
Hey Cry
Good to see ya. How's '09 starting for ya?
Uh naw, I think you got the wrong guy
I feel your pain though
If only it worked like that :) Nice to look at though, thanks
62,000 share buy at .16
I am sure his attorney's also told him to take down blogs and not PR anything. I.e. COVA UR A$$ :)
By the way Jason, if you do read this, we are not just a batch of angry investors. We are people that have countless times offered assistance, case in point our moderator, Dave.
If you do not think we should be angry with our investment sitting at rate of .000, then maybe you are the most joyful person ever created.
Transparency, Communication, Proof of Funds, Audited Financials, I guess that is WAY TO MUCH to ask for a CEO to offer his shareholders (don't forget co-owners in the company).
You might find many more PRIVATE INVESTORS, if the above is done, and re-instate your PUBLIC OFFERING reputation.
I remember that Chef. That is when we were really researching hard talking to Mr. Le (you) and me with researching the InVogue opening.
"We did not budget for" that are his infamous words.
How can you not budget for 2 store openings. Delays are delays. Anyone in property management and construction know that.
The key is not to spend $600,000. audited financials are the only way to know. At the end of the day, if they get the green light, I think he is hellbent on doing a R/S.
Since he claims there are GREAT PROFITS in his model, then take the "Private money" open up the store(s), take the GREAT PROFIT and buy back the billions he put into the A/S.
If he wants any credibility he will do that. If he does that, I will be the first to say, thank you Jason for finally understanding your shareholders, and improving your management skills.
My favorite part:
The truth is that none of them know exactly what has been transpiring over the last 6 months, regarding Market 99.
Hmmm, do you think that could be because Mr. Brola didn't inform his shareholders exactly what was going on?
How many times were non of our calls or e-mails returned.
How come there was never another conference call? Funny, he can set one up when he was trying to get investors to buy into his vision, but not when things were not "going as planned."
I agree Chef, there is NO WAY you go through $600,000 dollars when even if there were delays, you didn't need to pay rent until the keys were handed over.
Possible if actual inventory was ordered, but again, tell us all that Jason, and were it is stored.
What happened to corporate headquarters, where we were all "welcome."
I don't think he is necessarily lying, just not conveniently telling the WHOLE story.
I mean if you want to have open and honestly with FINRA, how about with your shareholders.
This would NEVER be accepted in any large institution.
The only good thing is that it sounds like they are trying to make it happen again and possible PRIVATE INVESTORS. But, I think more than the FINRA why they are hesitant, because NOTHING he has said has come true, and has NEVER told the WHOLE STORY.
Why say, e-mail? How about putting out a PR, opening back up that BLOG, keep us updated on a regular basis. How much wasted time to respond to all individual e-mails.
I hate name-calling so I won't, but I will say, Jason please learn to be a bit more professional. This is not a game, you are supposedly the CEO of Market 99. I would expect you to act like it.
Thanks to all staying on top of this.
I agree, potentially stunning opportunity for '09
Absolutely agree Dallas.
More dilution today, no doubt about it
You confuse me with a pumper instead of intellectual conversation you choose to name call.
Again, you were the pumper for MONTHS and now because you sold for a tax loss, you are THE ALMIGHTY saving the investor world.
Please, get over yourself.
As I have said, there is no doubt that the company has lost almost all of its value.
There will be some that will try and flip it, there are others that will likely get caught in a R/S, but please STOP spamming the board with your awful spamming comments
You no longer own the stock so get out of here and spread the word on boards that warn people of stocks
And yes, you will be reported, if you continue your personal attacks
PAVC = Bad stock, we get it
So just to make it clear, I am not telling anyone to buy or sell. At this point, people that are going to buy are going to buy, people that want to sell are going to sell, and trust, if they do buy there are not buying because of how solid the company has been.
The news today is that more dilution occurred. We will all find out the motives of this in the future, and for those that might still be in this, I do hope that it turns out well, even though I am skeptical.
FRE.PR.G
Freddie Mac Preferred
Up to .60
Nice way to start the New Year
Great board, I was looking for a board like this for a while.
I am in FRE.PR.G
Freddie Mac
It is pretty much at or near the bottom.
I personally was lucky enough to get in at .30 and hope to hold a core position for a while, when the housing market turns around this should be a great return IMO
Don't know if it will get back to its 52 week high, but if it even gets half of that, it could be a very good investment
Look forward to hearing about other Preferred plays
Thanks everyone
No one is saying that it will go up.
I think there have PLENTY of disclaimers that people should beware of the stock.
Just because you and even me have been down or some have taken losses doesn't mean that nothing will happen in the future
It could go up or it could continue diluting, R/S, or just go away
There are other plays, and many more that are much better, but no one should tell someone not to buy or to sell. It is there personal choice, just like it was yours when you bought in.
Some people might play this as a trade, some might play it as a lotto ticket, some will stay a million miles away (in case you haven't noticed there are all kinds of these plays and stocks in the market and on IHUB), but we do have the right to analyze any news that does come out and dissect it both positive and negative.
It is a fact as I have stated that the stock has lost almost 100% of its value, it is also a fact that there are two ways it can go, away, or up
So let's get that in, as well
I respect your views and all I ask is you respect others as well
Thanks
Thanks Dave. I don't think you could give any more information, e-mail and phone # on a public board.
Come on Jason, give Dave a call.
Enough with your constant attacks on people
if it keeps up you will be reported
No one is pumping this, and I am the furthest from a pumper, or trying to get anyone to buy this
In fact, I wouldn't suggest anyone do that, I also do have a right to have an opinion, and I don't think you constantly flooding the board because you decided to sell for a "tax loss" gives you the right to berate on others that might choose to hold.
The company has no credibility from past actions, no doubt about it, how many different ways do you want to say it.
You said you sold, so move on.
In fact you just said in your previous post that "you knew this was a scam but you got greedy."
So basically you lost on your trade and now instead of talking about any news you spam the board with "scam scam scam, crooks, etc." You have a right to say, but say it once, don't make 10 straight posts cramming the board with the same comments.
This board might be more useful for those that actually hold shares.
thanks and have a good day
I can understand maybe not getting back to you around the holidays, but then again, when you have an open door to talk to someone who actually has worked in the dollar store arena (Dave), who might have some ideas to get the ball rolling, I think I might call him back, Dec. 26,27,28,29,30, or Jan.2nd.
Dave doesn't seem to be the type of guy that is going to cuss out Jason, but rather try to give some expert advice. In fact, Dave, do you even hold any shares of MNTY?
I don't expect any miracles in the first half of the year, but I do expect Jason, to listen to advice, get feelers out there for private financing, and open that Gus Thomason store as soon as possible.
Out of all the "ideas" he has had, the Market 99 is the right model.
What really upsets me is this. I can't remember exactly where I saw it, but out of the S&P 500 (I believe there were only 5-10 companies whose stock value increased in 2008) - I could have the wrong exchange.
But I did see it on CNN.
The highest return on the exchange was THE DOLLAR STORE!
The other one was Wal-mart (didn't Jason/James work there?)
Hellllllllllllllllllo
What a freakin wasted opportunity.
Instead he goes off and tries to open a low end clothing store when all the clothes retailers are in the dumps.
Then he tries and buy another shell.
Again, that is why I say, piss poor management skills.
Write a true Mission Statement and stick to it.
If he got two-three stores open in 2008, and MANAGED the profits properly, we would not be having this conversation now.
Jason, admit your mistakes, apologize, ask for forgiveness, and let's move on to opening your ears, heart, and wallet to sound economic advise, and get at least the ball rolling.
This is not play money, this is hard working people's money.
Let's do this.
Call Dave. Man up.
I dont think I have seen those GLOWING posts. But, best of luck to you in all your investments.
Happy New Year
My point exactly