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SB, LOL. Almost choked on that one.
Funny image! Thanks for my laugh for the day.
Thank you for the .0105's. Whoever's selling here, got any more? I'll buy all day at these prices.
SB, sorry to hear that. Sometimes the truth hurts. Maybe penny could buy at these ridiculous prices and make his money back.
Yeah, right.
Think any real shareholders are going to sell at the low bids they're representing? I think I'll put a low bid in just in case somebody's feeling crazy today.
For example: NITE had an ask of .0125 for 23k. I put in an order to buy those and the ask went to .015 and the bid became my order. They finally filled it after a few minutes and then the ask went to .0145. Anyway it's kind of funny watching the scramble for shares.
They are hurting for shares today. Kind of funny watching L2.
Same here.
Wow, what great news! I think when they get the contract as someone said you won't be able to get shares less than .02, maybe even .03. And that will just be the day of contract announcement. After that I believe we may start to see a more rational valuation of this company.
I like that they're going after it instead of waiting around to see what happens. Speaks volumes to the stated goal of growth and aggressively pursuing business.
SB, I know you were kidding. I've been buying all week. I'll buy all day long at these prices! Never lost yet on shares bought at or under a penny.
No problem...... Moving Averages......MA's
Me neither. I've been buying all I can here. I'm a little miffed over whoever got those .01's today. I was sitting there myself and only got a few. Oh, well. I got a lot of those .0105's though.
Et Tu, NITE?
Selling shares somebody owns is not necessary if you're shorting. This would seem to fit VERT's pattern.
Not to change the subject too much, however here's a little insight into VERT:
http://www.sec.gov/comments/s7-08-09/s70809-3684.pdf
The Vertical Trading Group, LLC ( CRD #104353, NewYork, NewYork) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $25,000 and required to revise its written supervisory procedures regarding the One Percent Rule; the dissemination of quotations to vendors; monthly order execution information; SEC Regulation SHO’s locate requirements; the acceptance of short sale orders for threshold securities; maintaining identical quotes; market order protection; best execution for block orders, not held orders and orders with special pricing terms or conditions; reporting the capacity in which trades are executed; ensuring the accuracy of trades reported on the member’s behalf; the tick test; and books and records. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to properly identify orders as short sale orders and, therefore, failed to report to the NNTRF the correct symbol indicating whether transactions were buy, sell, sell short, sell short exempt or cross for transactions in reportable securities, and to properly mark the orders as short. The findings stated that the firm’s supervisory system did not provide for supervision reasonably designed to achieve compliance with applicable laws, regulations and FINRA rules concerning the One Percent Rule; the dissemination of quotations to vendors; monthly order execution information; Regulation SHO’s locate requirements; the acceptance of short sale orders for threshold securities; maintaining identical quotes; market order protection; best execution for block orders, not held orders and orders with special pricing terms or conditions; reporting the capacity in which trades are executed; ensuring the accuracy of trades reported on the member’s behalf; the tick test; and books and records. The findings also stated that the firm failed to produce documentation that it enforced its written supervisory procedures concerning the marking of order tickets and locate requirements. The findings also included that the firm failed to report the correct symbol to the NNTRF or OTCRF indicating whether the firm executed transactions in reportable securities in a principal, “riskless” principal or agency capacity. (FINRA Case #2006004088101)
(Note: VERT is widely recognized by investors as a market maker who abuses their market making obligations and manipulates stock prices for profit. They are the firm the less than reputable clients trade through when they want a “job done” and this enforcement case, despite the paltry fine, illustrates their willingness to avoid the rules.)
• Market makers can hide their order sizes by placing small orders and updating them whenever they get a fill. They do this in order to unload or pick up a large order without tipping off other traders and scaring them away. After all, nobody is going to attempt to push through a 500,000 share resistance, but if a persistent 10,000 share resistance is there, traders may still think it is a beatable barrier.
I got over 300k myself. Thanks, VERT!
I see VERT is back to unlimited (10k) shares.
yeah, the requirement to post bid/ask size is more of a guideline than a real requirement. LOL.
This will be over 2.00 soon. imo. We'll see who's opinion is closer to the mark. They did the R/S for a reason. That reason is to get a share structure that's accessable for institutional investors and to move to a more quality exchange. The OTCQX is virtually comparable to the NASDAQ as far as reporting requirements, etc. See you in about 35 more days. Somebody is accumulating for a reason.
Who got the .008's? I had the bid at .008 with 400k and over 700k went off and none to me. I'm a little bummed about that.
We're freeeeeeeee. Free fallin'. It's like the limbo. How low can she go? Well, last time we did this I was shocked that we fell below a penny and for a goodly amount of time. I'm betting this time we bottom at about .008.
Thanks, junewong.
You find out, let me know, because I haven't a clue. Just when I think it can't go lower, it does. I can't make sense out of it. Whomever is selling has to be doing it at a loss. I agree with Chili, its stupid.
Well said.
Thanks for the cheap shares today. Got anymore?
Why do people want to gamble on a scam and show no interest in this stock???
Welcome, junewong!
I kind of thought between the three of us we pretty much owned the float. If this ever goes subpenney again, I've made plans to own the float. I'll be Jean's partner.
Uh, that would be me. Sorry 'bout that. Couldn't resist. Hope they go and pick up my bid of .0135 also.
Well, I've picked up the rest. I wonder who's so desperate to get out? I'll be buying more at these levels also.
those aren't yours? Last of my money's at .0135.
I guess the requirement to show bid/ask size is more of a guideline than a requirement. LOL
Also, I think the company should declare a stockholders meeting before upgrading.
I know what you mean. And it's such a great little company!
It's just me, Junewong. I'm a sucker for undervalued stocks. I'll probably catch you soon. My question is: the float can't be that big anymore. Who's selling (especially at these low levels)?
SB. Yes, I got a few. I had a bid in for 200k and they filled 10k. Somebody else got the bulk of the rest. Don't know what it is but I never seem to catch many of the low ones. Oh, well, tomorrow's another day. Maybe somebody still wants to sell a few.
It's possible. Which is why I've been buying lately. I believe this is finally turning around with good revenue growth in the near future. Normally with a R/S I head for the hills, however since they reverse split everything including the A/S, I see positive intention to grow and avoid the pitfalls of the usual pinks. I'm liking this a lot!
OTCQX Requirements & Fees
jk, here's the requirements for the exchange they're going to uplist to.
The OTCQX requirements support a transparent marketplace with high quality issuers, financial information disclosure and efficient trading for U.S. investors.
OTCQX has a baseline set of requirements for U.S. corporations and international businesses incorporated in the U.S. Companies that are incorporated outside the U.S. should follow our international standards.
Any issuer with proprietary priced quotations published by a market maker on OTC Link will be eligible to enter the tier for which it is qualified. Companies that meet the financial requirements of NASDAQ's Capital Market Continued Listing Standards may be eligible for the higher OTCQX U.S. Premier Tier.
OTCQX U.S.
• Ongoing operations (no shells, blank check or special purpose acquisition companies);
• A minimum bid price of $0.10 (for preceding 90 business days);
• The company may not be subject to any bankruptcy or reorganization proceedings;
• The company must be duly organized, validly existing and in good standing under the laws of each jurisdiction in which the company is organized;
• At least 50 beneficial shareholders, each owning at least 100 shares of the Company's common stock;
• Ongoing quarterly and audited annual financial reports posted on OTCQX.com, a premier website for qualifying companies (SEC Registered issuers can use EDGAR); and
• Inclusion in the Standard & Poor's Corporation Records or Mergent Manuals (fka Moody's Manuals), which satisfies the Blue Sky requirements for secondary transactions in many states, together with a list of any other states in which the security is Blue Sky compliant and eligible to be sold by brokers in those states;
• DAD Letter of Introduction upon application process completion and quarterly and annually thereafter to OTC Markets Group Inc. confirming that the issuer has made adequate current information publicly available and meets the tier inclusion requirements.
OTCQX U.S. Premier
Designed to identify issuers that are of the size and quality to list on a National Stock Exchange. Additional requirements include:
• A minimum bid price of $1(for preceding 90 business days);
• At least 100 beneficial shareholders, each owning at least 100 shares of the company's common stock;
• The company meets the financial qualifications for continued listing on the NASDAQ Capital Market;
• Conduct Annual shareholders' meetings; and
• The company meets all of the requirements of the OTCQX U.S. Tier above.
Application Fee
• $5,000
Annual Fee
• $15,000
OTCQX U.S. Initial & Continued Standards
OTCQX U.S. OTCQX U.S. Premier
Total Assets $2 million $2 million
Bid Price $0.10 $1.00
Beneficial Shareholders 50 100
Market Value of Publicly Held Shares $1 million
Publicly Held Shares 500,000
Conduct Annual Shareholders' Meetings Yes
Must also satisfy Must also satisfy
one of the below one of the below
Revenue $2 million at least $6,000,000 average
for the last three years
Net Tangible Assets $1 million $2 million if in operation
for at least three years, or
$5 million in operation for less than three years
Must also satisfy one of the below
Net Income $500,000 $500,000 (in the latest fiscal year or in two of the last three fiscal years)
Stockholders’ Equity $2.5 million
Market Value of Listed Securities $5 million $35 million
Notes:
1) All criteria must be met using data as of the most recent fiscal year except for bid price which is monitored on a daily basis.
2) The OTCQX U.S. Premier requirements incorporate the NASDAQ Capital Market Continued Listing Standards.
3) Publicly Held Shares are defined as total shares outstanding minus shares held by officers, directors, or beneficial owners of more than 10% of the company.
For more detailed information on admission criteria, please see the OTCQX Marketplace Rules.