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Your brokerage account app should have an alerts section: price alert, news alert, etc.
Wow, beardus, I can commiserate. I sold a lot in the mid 007s because I hadn't looked at my account for months. I logged in a few weeks ago while I was at work and I was up HUGE. I didn't know the story for this runup and I know how pennies can go and I had this thing from 2006. I looked quickly at the chart and saw it made 3 moves up and didn't want all my paper profits to go away, so I dumped half within a couple days. I sold more around avg .012, and now I'm holding my last million shares for the long haul. I'm not the optimistic type and honestly my realistic target on this like a few others is .05, but come on Rafi take it to $1 and make me a millionaire!
Amen to that! Mortgage paid would be sweet.
Hmmm, is it related to the private Pilgrim? One thing is sure, Rafi is absolutely correct when he says the name is being changed to eliminate confusion between the private Pilgrim and the public Pilgrim. I'm at work on lunch break right now, so not sure if I can get a final answer on this filing. I think we need to know if it relates to the public or private company. Either way, it's associated with PGPM the stock because the private company is the parent of PGPM. We'll see...
Good news that they will have some cash to work with, but it is hard for me to believe the investor will get nothing for their contribution. It is a filing for the offering of securities, after all. We just don't know yet what the details are. We'll see how it plays out.
No worries here. Looks like they are reporting oil price fluctuations as unrealized earnings/losses. So far they have done little if not nothing to get the estimated $50million worth of oil out of the ground -- yet. Looks like they're trying to get things going on that front, so yeah in my opinion it's a great time to be invested and see if that happens. I've been invested in this company since 2006, so yeah.
And...the net income for 2016? It's actually a loss of $1,197,008. I'm just stating facts here. The roughly $550k earnings are great to see -- even if they are unrealized. That just means it is an investment that has not been sold yet. Looks to me like they are just reporting the value of the oil in the ground as unrealized income/losses every filing. They're just marking it to market as the price of oil fluctuates.
Again, I'm fine with all that.
If it's short term gains, I think yes it will bump you into the next bracket. It's taxed at the same rate as your regular income.
A long term investment gain is separate from the regular income. You look at your tax bracket based only on the regular income in order to determine the tax rate for your long term gain (which doesn't get added to regular income, it stays separate and gets the lower rate).
Doesn't make sense to me that you took a hit like that. My understanding is that taxes are progressive. You pay 10% on the portion of your earnings in the 10% bracket, 15% on the portion of your earnings in the 15% bracket, 25% of your earnings in the 25% bracket, 28% of earnings in the 28% bracket, etc. Like this:
Total earnings = $40,000
10% x $9325 = $932.50
15% x ($37950-$9325) = $4293.75
25% x ($40000-37950) = $512.50
Total tax is 932.50+4293.75+512.50 = $5738.75
Note that $5738.75 is an effective tax rate of 14.35% because your earnings in the 25% bracket are only $2050 (the $512.50 in taxes that you pay at the 25% rate is only for the $2050 you earned within your highest bracket).
This is federal taxes, I don't know if state is same or different. Also, I did not account for any possible deductions, but we'll assume $40k is the adjusted gross income.
Under current tax rules if you've been holding 1 year or more, and you're tax bracket is 25% to 35%, then you will only pay 15% on your capital gains. If you're in the highest tax bracket, 39.6%, you'll pay 20% on your long term capital gains. See "other investments" column here:
https://en.m.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States
Yeah, I just looked it up. Brokers can make rules more stringent than the requirements if they so desire, so it depends I guess.
http://www.finra.org/investors/day-trading-margin-requirements-know-rules
"It is important to note that your firm may impose a higher minimum equity requirement and/or may restrict your trading to less than four times the day trader's maintenance margin excess. You should contact your brokerage firm to obtain more information on whether it imposes more stringent margin requirements."
Also I think you can escape the pattern day trader $25k requirement if you have a cash account (as opposed to margin). I seem to recall my broker mentioning something like that.
I think i remember you too, iluvbbs! Ha, dancing pickles I remember from more than one message board!
Hey, I seem to recall one of you guys is an author, wrote a book.
Surprise of a lifetime, Bob. I hadn't logged into my brokerage account in months, then went to check my holdings when the market tanked last week. Crazy world, I tell ya! I did sell a good chunk of my position at recent prices, though. The rest is on lockdown.
Ncpti, you're one of the old guard, too!
So, you're in the biz?
Well, it depends. Fewer mm's means less liquidity in general, but pgpm is priced very low. I don't see any problem moving shares around in 100,000 share increments, but then again that's only $1000 worth of stock at a penny. That's chump change for a market maker. Now, consider 100,000 shares of Coca Cola (symbol KO) at $45 - that's $4.5 million worth of stock. Sounds like a lot, but even on a slow day like today KO trades about 19,000 shares per minute, which is around $865,000 worth of stock. This suggests you could probably unload 100,000 shares of KO within minutes without adversely affecting the price. Could you easily unload $4.5 million worth of PGPM in 15 minutes?! Never, considering that would be about one-third of the outstanding shares! In a way, PGPM doesn't need that many mm's because the company isn't worth much right now in the grand scheme of things (KO is worth $193 billion). The drawback is that with only 3 mm's each one has a lot more influence over the market because each one is 1/3 of the available buyers and 1/3 of the available sellers (not counting any order matching that bypasses the mm's). So, there's plusses and minuses to having only 3 mm's on this stock, but as a trader I don't see too much of a problem because I've had orders in for up to 500,000 at a time and didn't have much trouble getting fills. If the price goes higher, having more mm's around would definitely be beneficial because it will help to maintain liquidity, which ultimately is supposedly the mm's job (besides, of course, making money!).
Hey, bobbertino, I remember you from long ago. We're part of the "old guard" here! I bought my first shares at $0.19 -- good thing I didn't load the boat at that price. Been sitting on this egg for 11 years! I actually almost sold it for a tax loss last year.
This is level 2 quotes:
http://ih.advfn.com/marketing/images/level-2.gif
Left side is buyers, right side is sellers. Some stocks don't have nearly as many market makers as the example above(Coca Cola). Coca Cola is worth billions and trades lots of shares daily because of widespread, worldwide ownership both institutionally and individually. Stocks like PGPM don't have many market makers because it is on the pink sheets.
Here goes again. My first attempt to post this message didn't work.
Some of the page numbers on the "contents" page don't line up correctly with the pages that follow because the "statement of cash flow" page was left out in the March 2010 document versus 2008. The balance sheet, income, expenses...they're all the same in both docs. The dates were updated to 2010 in all the headers, but it's all 2008 financial numbers in the 2010 doc. Looks very damning. It does look like a cut and paste job. I hope someone truly made a mistake and not a "mistake."
Ralph's name is on the report, so I would imagine he's the responsible party. He also signed the June 2010 report. Apparently we're not rid of him yet. I'd still like to give Matt the benefit of the doubt based on all he's expressed here. We'll see what comes of it all.
These are not SEC filings, so is it out of their jurisdiction?
You're right, ncpti. Those 5 to 9 year olds that are the majority of the ones getting entrapped must be knuckle heads.
The offer at 0.0004 bugged out of there after letting go of only 317,000 shares...interesting.
That's a pretty big carrot being dangled in front of us. I hope he's right, because at these prices hope is all that's left. Nobody's selling because we're already at the bottom. Might as well see what happens at this level, unless you really need the write off. That's not to say a new investor can't lose all his money from here because 0.0005 to 0.0000 is still a 100% decline, but for many of us it's "been there, done that" already anyway because we've already stared into the face of the 5-eyed beast (0.0000)!
Looks like the 5's on both sides hit the road, staring contest is over.
MM at offer is still locking the bid. Someone is protecting the support here at 0.0005, but who wins this staring contest?
The oil spill in the gulf is worse than they are telling you. It is not to be considered a good thing at all.
666 - TWICE and UPSIDE DOWN! Dow was down 800 points. LOL, the devil did it.
The servant waits. The master baits.
His straw reaches all the way across the room.
RALPH DRANK OUR MILKSHAKES! HE DRANK THEM UP!
Ha! The fifth listing should read "President of CHICANERY Resources." LOL!
penn_e_pincher
Someone was bold enough to take $3100 worth of stock at the offer. The wide spread is a dare from the MM's to see how much we really want the stock. In my opinion if there really is demand pressure building up, the MM's will eventually raise the bid up. Since we don't have any news yet, the potential move would be virtually all based on speculation of the higher oil prices we've already seen (but watch out for concerns about oversupply) and the possibility maybe of news "soon" based on recent communications with Pinedo (before his entry into monkhood with the vow of silence). We'll see what happens next week.
penn_e_pincher
Hi, tlinglit. The prices in between are not being quoted. Lately the best bid by a market maker has been 0.0001 and the best offer has been 0.0006. If we want to buy, we must buy at the offer. If we want to sell, we must sell at the bid. The difference between the best bid and best offer is called the spread. In liquid stocks trading millions of shares per day you will have better spreads, but there's little interest in PGPM right now. Since the MM's run the show, they can display bids and offers wherever they want to. They're probably waiting like us to see what pinedo is going to do. In the mean time, they're charging a hefty premium if you want to buy the stock because the best offer is 6 times the bid. That's like having a quote for GOOG of $435 bid x $2,610 offer! Furthermore, your broker may handle your order in such a way that your bid or offer isn't displayed on the pinkies because they themselves don't make a market in the pink sheet stock. You are at the mercy of the existing market makers in the stock. My guess is your broker does nothing with a buy order that is anywhere under the current offer. It's like it doesn't exist. If the offer is 0.0006 and you bid at 0.0005 nothing will happen because a MM isn't offering there AND your broker doesn't display it. No reason to request a buy from the MM if he's not offering at your price. It is possible they might display it on ACT, but if it doesn't match the MM's price they don't have to fill it if they don't want to, simple as that. Through masc's direction I learned there are guidelines that the pinksheet MM's have to follow and they do have certain obligations to honor their quotes as with NASDAQ and NYSE, but the bottom line is you can expect that absolutely nothing will happen if you place an order within the spread until the MM's decide to move their quotes and it results in a match with your price.
penn_e_pincher
Thanks masc.
http://pinksheets.com/pink/faq.jsp#13c
Interesting, they can be held liable for backing away if their quote is indicated as firm and they don't fill your match. Of course they will quote a small size even if they want or have more than what they're showing so they can always change their mind. That way they are obligated only to fill you for their quoted size which is usually very small and they've kept their risk low and their cards close to their vest. It's why you might get filled for 1 million shares even if they are only quoting 1000.
penn_e_pincher
Well, it looks like they are willing to buy but not willing to sell any shares. They are making a one-sided market. It could be worse, they could withdraw quotes completely if they wanted to and we'd have nobody to deal with whether buying or selling. Welcome to the pink sheets. Unlike the major markets, I don't think they are obligated to fill anyone's order even if you are matching their price. Anyone know where we can find market-making rules they must follow for order handling on the pinkies? We can't trade with each other, right? All our orders must be handled through an MM, unlike NYSE or NASDAQ listed securities where we can display our bids and offers on an ECN. Am I right? Well, I guess that's just the way it is for now. We are in wait and see mode and so are the MM's, I guess. The ball is in pinedo's court.
penn_e_pincher
Tax Question RE: Arcland.
I've been holding PGPM for awhile and received the Arcland stock. How are you guys treating the Arcland stock distribution for tax purposes? When did we get it, in 2008 or 2009? I don't even remember!
Thanks in advance.
Wow, I'm impressed. That's no small change trading $4.94 at the ask for a stock with a four dollar spread. Actually, the ihub trade page shows ACLY is bid at 1.50 now. I don't see that on otcbb.com, but we'll see how things develop next week.
Question: If you were offering at 4.50 thru atrade or etrade or scottrade before those trades occurred at 4.94, would you have gotten filled? Do those brokerages display customer bids and asks on the otcbb?
penn_e_pincher
Ahhhh, I see. Thanks for the clarification.
You and others here have got some good insight on the situation. Thanks for sharing. I've also enjoyed reading some of your broader commentary on stocks and markets in general. Cheers.
penn_e_pincher
Ok, so today's filing shows 74,911,470 shares outstanding. I hope that is before the 1 for 10 ACLY split, otherwise our 1 for 1711 ratio gives us PGPM holders (assuming 2 billion shares O/S) about 1.2 million shares out of 74,911,470, or a measly 1.6% ownership in ACLY before the dividend! Honestly, I really believe (yikes, I hope) today's filing doesn't account for the split. We should be owners of about 1.2 million out of 7.49 million shares of ACLY, or about 16% if you adjust for the recent 1 for 10 split in ACLY. BTW, if new shares are issued to complete the transaction we'd be 1.2 million share owners out of 8.69 million total, or 13.8% owners. I'm not sure. Anybody want to comment whether new shares will be issued for the 1 for 1711 exchange?
Now that it appears all the assets, including the $40 million lease, are rolled up into ACLY, we as ACLY shareholders arguably have a 16% ownership in the $40 million dollar lease on ACLY's books. Unless the upcoming dividend rewards PGPM holders with at least 50 percentage points more ownership of ACLY, we've gotten screwed to some degree. I remember someone writing about this subject before (downside maybe). The question is have we been a little bit screwed or alot screwed because the lease was ours to begin with (as PGPM shareholders). If it was passed off to somebody else only to be returned to us in the fractional amount of 16% then we've REALLY been screwed. Pinedo seems to be leading us to believe the dividend will make us whole again, but we must be at least 66% owners in ACLY to realize ownership of $40 million out of the $60 million in assets specified in today's filing.
Also bear in mind that we are still in the same situation as we were in 2006 when Pinedo said PGPM should be trading at 30 cents per share. That statement was based on an estimated value of the lease, not a real life bid from some company to buy the lease or from oil actually being pulled out of the ground and sold. ACLY is bid right where it "should" be so that it is at parity with PGPM right now. The trade at $5.25 was a single transaction for 100 shares and should be ignored. If you had to sell ACLY right now you'd have to sell at the current bid of 81 cents. That's what you can sell it for and that's what it is worth. A $500 purchase of PGPM at 0.0005 exchanged at 1711 for 1 ACLY share yields 585 shares of an 81 cent stock. That's $473.85 or actually a $26 dollar loss if you bought PGPM at 0.0005 and sold ACLY at 0.81 after the exchange (but before the dividend). The dividend is still unknown, so it hasn't been factored into ACLY's bid/ask yet. Actually I should say that the nervousness about the upside potential is reflected in the skittish offer that won't sell for less than $5 right now, but when more uncertainty is removed the spread will narrow and either the bid will move up or the offer will move down according to supply and demand, which will be driven by the perceived valuation as determined by any new information they provide us as to how the claimed lease value might actually be turned into real dollars.
Also discussed on the ihub board was the possibility that they might want to placate us with a lesser percentage of the $40 million lease, but reveal something from the black box that increases our share value, as an example, tenfold from today's prices. Who doesn't like a 1000% gain, but that doesn't change the fact that we need to be paid what is owed to us. I'll put up some numbers to illustrate the point in that person's original message (again, downside?). An investment of $300 in PGPM returns $3,000 from ACLY and that's a great gain based on what they might reveal in order to increase ACLY's value and therefore the stock price, but you SHOULD have gotten more shares in ACLY based on your PGPM ownership and rightfully should have made $6,000 but you're just happy about $3,000 and won't complain. You've still been screwed out of half the value you should have had, despite the 1000% appreciation on the investment.
We'll see how it turns out. I still think we don't have the information needed to make this stock run yet. Maybe some speculators will drive it up a bit for now, but we need more information and we need a fair and substantial dividend (LOL, I'm thinking masc will write "all is fair in love and war, and speculation is financial warfare"). Things seem to be happening faster. Maybe the ace up Pinedo's sleeve is a partnership with big oil for extraction on those properties, or an outright sale of the leases for cashola. At this point all we can do is speculate. Good luck.
penn_e_pincher
Time & Sales
Price...Size.....Exch....Time
0.0006 200000 OTO 15:41:03
0.0007 200000 OTO 13:13:27
The only volume for today. Maybe the same person both times? Who the heck is trying to daytrade this thing?
-Chachi