Often irritated, never duplicated
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"...what is wrong with à forward split "
If properly done, not a thing. In fact, MMTC could sweeten the deal for shareholders by offering a split in order to get shareholders to vote for the increase in AS. I'm certainly not saying that will happen, but it's possible.
"the affect on the company should not be severe"
Don't forget that recent news (June 2011) refers to Stonehouse as the CEO. There was some confusion as to the respective roles of the two named CEOs.
Champney also had some recent legal troubles, a matter of public record for any that care to dig it up. I don't wish to speak ill of the deceased, but of course investors in SIRG will want to consider how events pertaining to the public officers of the company might affect their shares. The nature of the record is unflattering, but not the sort of thing that presumes any malfeasance in his tenure with SIRG.
Hopefully his family can at least see his shares appreciate enough to help them in their time of loss. It's terrible anytime young children lose a parent, and financial burdens just add to their woes.
"wouldn't that make dilution anecdotal"
No, it makes the dilution speculative.
For all the chatter about how this is a low-float, with many stating the "float is locked" without any hard facts, it seems plenty are somewhat cavalier about the potential for the float to grow by 100's of points.
Ditto for the inside ownership. It is a boon to the current shareholder, but a bane to those who buy now and see the O/S subject to arbitrary increase under an agreement to be voted on by the controlling interests.
And those same controlling interests want a tiered share structure. I'm not saying any of this is automatically bad, but neither will I assume it is benign or positive until more information is available.
"just see what MMTC has to tell us in the coming days"
Concur, and what they tell us, or not, will certainly affect our ability to maintain current PPS. I want the full ride, but I had to take my cash off the table based on today's news.
With all due respect...
"MMTC wants to increase the A/S for a good reason"
Do any of us actually know this, i.e. have corroborating evidence to confirm this assertion? If so, it's illegal to say it here. Beyond that, pure speculation. Hope for the best, of course, but excuse me for pointing out that it's not exactly a factual statement.
"MMTC did not suffer such a fate, as it showed Today"
Well, one day of results is anecdotal, isn't it? Talk to me in a month, as we close in on the meeting date. Look what has happened in the last two weeks. I say this with every confidence that this is a company with an amazing technology that is prescient, patented, and en route to the marketplace.
Regardless, manipulation is a given, which should be obvious from the peak volume trading on our limited float in recent weeks. I rode .018's down to here because I believe in MMTC, but today's news was a reminder that micro-caps come with a caution sign. Eyes and ears open, caveat emptor.
MMTC should be worth a multi-dollar PPS based on enterprise value, but it will only get there after many rounds of MM games. I hold significant freebies and have no intention of selling them, subject to emerging events.
I hope all the longs here make out like bandits!
It is the 2nd proposal for the September 30 shareholder meeting...
And you can find it right here:
http://ih.advfn.com/p.php?pid=nmona&article=48957759
PROPOSAL NO. 2
APPROVAL OF AN AMENDMENT TO THE COMPANY’S ARTICLES OF INCORPORATION INCREASING ITS TOTAL NUMBER OF AUTHORIZED SHARES TO 2,500,000,000
"...The Board of Directors, therefore, proposes an increase to the number of authorized shares of common stock from 500,000,000 to 2,500,000,000".
And the same inside ownership touted here may ensure that they get their 400% A/S increase. There might be a perfectly good reason for this, maybe a great reason, but those who sell fear and buy shorts will love the uncertainty this proposal will bring between now and the meeting. It's easy to tell the oft-repeated tale of many penny-stock CEO's, who meet a surgically-enhanced cocktail waitress in Vegas and start selling shares faster than you can say sugar-daddy.
Until the company speaks about what's in the can, the proposal can't be seen as good news.
We have bad news for the SIRG family.
Champney apparently passed away.
http://www.watertowndailytimes.com/article/20110826/OBIT01/708269925/-1/obit
"why would anyone sell at these levels"
In my case, it was to preserve capital, retain free shares, and make cash available to buy in lower should the opportunity arise. Meanwhile I was able to leave most of the shares on the table should good news appear suddenly.
I seldom flip, and tend to look for genuine enterprise value represented by undervalued stock, i.e. investing on fundamentals, then let time work its magic. That said, I bought in dangerously close to the bottom a few weeks ago and was able to take all my initial cash off the table and still leave most of my position in place by selling enough to cover my cost. I will be very surprised if the good news comes soon enough to keep the jackals away, and the MMs would be happy to suck up transaction fees for every sucker they can get to sell. It is in the interest of many parties to beat the PPS down like a monkey with a wooden drum. It is the churn that matters to the MMs, so if there is no reason to raise the PPS, they will just make money by stomping the price back down into the dirt.
I believe in MMTC, having done considerable research and also being fortunate to benefit from all the fine DD here. Many thanks to all that dig, inform, infer, and share. This is a great technology and I hope it will empower a great company to make great profits. I have a target PPS to reacquire my other shares if trends suggest that I should do so. Meanwhile, I am now officially "longer" than my previous long position, as I no longer fear losing my investment capital. I didn't sell when I had a 12-bagger on the line for most of my shares, so unless I see clear signs of pending malfeasance, my position is riding into the sky with the looming demand for the MIT-1000.
(But I STILL want to know why they need a 400% increase in the A/S. I've seen many a promising company killed by dilution.)
Going to all free shares...
I've been waiting to take cash off the table and the news from yesterday was the catalyst. We can guess and postulate all we wish, but the shorts and bashers are going to love this news, and they will spin it effectively unless the company counters with more news that males the reason for an increase in the A/S clear and positive.
And the free shares are a significant number and will make me very happy if we take off like a rocket, but the erosion of PPS since last week combined with the news meant I had to act to preserve capital. They can't dump news like that without major doubts emerging as to the reasoning behind it. I'm betting the bashing will reach a fever pitch between now and September 30 and I'll be able to buy back cheaper and increase my position if desired, or just ride freebies.
GLTA
"5 x as much shares, nobody worries about that?"
They will if they're smart. Major red flag in my opinion.
Many thanks for sharing that...
There aren't many things better for the smart & skeptical investor than a solid cross-reference to info the company claims, especially in the OTC leagues. Excellent digging and great results. Again, many thanks for sharing.
Correct...
I would add Ron Theissen and the board who approve his decisions regarding NAK. Follow the money...
Thanks, IMcat.
Zoom out a bit and you can see the other nearby mines. You can also see the copper content in the region clearly in the surface mineralization.
Our friend VP pointed this out...
Rational and objective views from Alaska resident.
http://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=NDM&t=LIST&m=30102697&l=0&pd=2&r=0
That "20 oz silver per ton" sounds great...
Silver will spike again if gold hits 2K, and serious reserves of silver could add a huge amount to the valuation of Tombstone.
Follow up - Penson Issues
I posted last night concerning my order being rejected through Zecco. I reached a representative at Zecco and had the following conversation. If you use any broker that clears through Penson, you may find the details relevant.
I do not mean to bring any uncertainty or doubt to the table, and I hold shares here, plus I am not a shorty and never have been. I don't sabotage stocks or beat down someone else's investment in the hope of getting cheapies. That said, I like the folks here who share info and bounce prospects objectively. If you deal with a broker that uses Penson, the following may affect your ability to trade SIRG. Just making everyone aware.
"(Name withheld): Thank you for contacting Zecco Trading. How may I assist you today?
You: Hi (Name withheld). Tried to buy SIRG this morning, was told trading was halted. Any idea why?
(Name withheld): I apologize for any inconvenience. I will be more than happy to check the status for you.
You: I know people who are buying today, but apparently I can't via Zecco.
You: Thank you
(Name withheld): Thank you for waiting.
You: No problem. I'm also concerned as to whether I could sell this equity right now.
(Name withheld): Our record shows a halt on this security. This is due to recent customer transactions that have led these positions to be traded in excess of 25% of Average Daily Volume (ADV).
(Name withheld): This trade halt is a business decision based on Penson directive and is a proactive step to prevent further customer trades that would trigger a buy-in of sell transactions.
You: Does this mean I can't sell the stock? Also, is this a general halt or something internal to Zecco?
(Name withheld): This is a business decision. Allow me to check on options for selling.
You: Thank you.
(Name withheld): If you wish to close an existing position, you can contact us by phone to place an order.
You: When you say a business decision, do you mean the business Sierra resources or Zecco via Penson?
(Name withheld): I'm sorry for the delay. I'll be right with you.
(Name withheld): It is by our clearing firm, Penson. I apologize for any confusion.
You: What information do I need to have available when I call?
(Name withheld): Simply contact us by phone and request for a trader to place the order.
(Name withheld): Currently, we are not accepting opening transactions. Only closing transactions are accepted over the phone.
You: Can I also call to add to my position?
(Name withheld): No, we are not accepting opening transactions at this time. Should we receive further information indicating any of these securities no longer pose a risk of triggering the NSCC Illiquid Requirement, the halt may be considered for removal.
You: Thank you for your time. Have a great day!""
Thank you for your feedback...
I will try again.
Glad to hear it...
Being a bit old school, I tend to use a calculator and make certain I am within my means, and that I know what I am ordering and how much it will cost.
I have seen orders rejected for non-DTC eligibility, for funds waiting to clear from TA, etc, but in this case I got a rejection of the order with a details statement. The statement was worded quite clearly that trading had been halted. Of course I checked that I had typed the correct ticker, etc. Whether a fluke or not, I thought I would report it to the folks who share info with me. If the message was reached in error, please have the mods remove the post.
Look Out ADSY Traders...
They are on the non-DTC eligible list.
Received an email from Zecco, text below. Watch out for undisclosed fees on certain sub-dollar equities. The link below is non-DTC eligible equities which may be subject to the fees noted in the email.
https://www.zecco.com/forms/known-non-dtc-eligible-list/downloadform.aspx?utm_campaign=20110819%20PennyA&utm_medium=email&utm_source=Eloqua&elq=680ebdfe7fd14ea78121506156803a53&elqCampaignId=91
"The Depository Trust & Clearing Corporation (DTC) provides electronic clearing and settlement for equities, bonds and other securities. The vast majority of equities traded by Zecco Trading customers are DTC-eligible. However, certain low priced equities are not DTC-eligible or have had their eligibility revoked. The DTC eligibility of any given equity can change over time.
Settlement of non-DTC-eligible requires physical processing, which can result in significant execution, deposit, transfer agent and other fees. The fees generated by the settlement of these physical positions are passed through by our clearing firm, Penson Financial, directly to our customers - neither Zecco Trading nor Penson mark up these fees.
Customers who trade non-DTC-eligible securities are responsible for these fees, which can be as high as $700.00 per trade. Orders that require executions with multiple contra-parties will result in settlement fees for each separate transaction. These charges may not be immediately charged to your account following a trade, as Penson may receive notice of such fees as much as three weeks later. Zecco Trading reserves the right to withhold funds in a customer’s account pending potential assessment of fees.
It is your responsibility to investigate the eligibility status of a low-priced equity before trading it. You may consult the Known Non-DTC Eligible List in our Disclosures Page or contact the specific company whose equity in which you intend to trade to confirm eligibility. Please note that there is no guarantee that the Known Non-DTC Eligible List will contain a complete and updated list of non-DTC-eligible stocks."
Heads up Penny Traders...
Received an email from Zecco, text below. Watch out for undisclosed fees on certain sub-dollar equities. The link below is non-DTC eligible equities which may be subject to the fees noted in the email.
https://www.zecco.com/forms/known-non-dtc-eligible-list/downloadform.aspx?utm_campaign=20110819%20PennyA&utm_medium=email&utm_source=Eloqua&elq=680ebdfe7fd14ea78121506156803a53&elqCampaignId=91
"The Depository Trust & Clearing Corporation (DTC) provides electronic clearing and settlement for equities, bonds and other securities. The vast majority of equities traded by Zecco Trading customers are DTC-eligible. However, certain low priced equities are not DTC-eligible or have had their eligibility revoked. The DTC eligibility of any given equity can change over time.
Settlement of non-DTC-eligible requires physical processing, which can result in significant execution, deposit, transfer agent and other fees. The fees generated by the settlement of these physical positions are passed through by our clearing firm, Penson Financial, directly to our customers - neither Zecco Trading nor Penson mark up these fees.
Customers who trade non-DTC-eligible securities are responsible for these fees, which can be as high as $700.00 per trade. Orders that require executions with multiple contra-parties will result in settlement fees for each separate transaction. These charges may not be immediately charged to your account following a trade, as Penson may receive notice of such fees as much as three weeks later. Zecco Trading reserves the right to withhold funds in a customer’s account pending potential assessment of fees.
It is your responsibility to investigate the eligibility status of a low-priced equity before trading it. You may consult the Known Non-DTC Eligible List in our Disclosures Page or contact the specific company whose equity in which you intend to trade to confirm eligibility. Please note that there is no guarantee that the Known Non-DTC Eligible List will contain a complete and updated list of non-DTC-eligible stocks."
The fees only apply to the non-DTC eligible list...
Here is the list. Didn't see MMTC.
https://www.zecco.com/forms/known-non-dtc-eligible-list/downloadform.aspx?utm_campaign=20110819%20PennyA&utm_medium=email&utm_source=Eloqua&elq=680ebdfe7fd14ea78121506156803a53&elqCampaignId=91
"What if...they have a potential buyout?"
You have touched on one of the many reasons I want to see the details of the deal with Epic. Given that they are acting as a dealer network and securing the distribution deal with capital, I would be very surprised if they didn't address such contingencies in the agreement. The specifics regarding such an arrangement may give Epic the first right to counter any offer received, or Epic's agreement may be part & parcel to the near-term of MMTC, i.e. any suitor takes on Epic's portion of the contract or buys them out as part of the acquisition.
Pure speculation, but any such details may be crucial to the possibility of a lucrative buyout offer. Keep in mind that this is a wealthy sector at a time when corporate coffers are flush with cash, and there are plenty of heavy hitters in the healthcare blue-chips that retain M&A counsel for acquiring promising enterprises. Consolidation of the operational emergent biomed into big pharma large-caps is a trend that isn't slowing down despite the economy.
It would be shortsighted for MMTC management to wrangle any deal with Epic without inclusion of clear provisions for a buyout scenario. Given the inside ownership, there is most likely a clause that makes things sweet for both MMTC and Epic if an Abbott or J&J want to scoop up this action.
And who could blame them? This technology will generate a lot of revenue. I could be tempted to vote for a buyout @ +$3.50 USD.
"Platinum Studios could go bankrupt!"
Almost any company can go bankrupt under worst circumstances.
But if Rosenberg can get a Speilberg, a Howard, a Favreau on board for his projects, someone will throw him a lifeline if he asks for it. It wouldn't be free, and we all know you can't do your best negotiating with your hat in your hand, but clearly some pretty big names believe in PDOS and would likely make some calls and set up some private placement for equity. Dilution would be a given, as it is now, but the IP here may be enough to keep the Q off the ticker.
I recently bought my best pick ever, hundreds of percent a few days after I called the bottom (so far). I watched that stock for well over a year before grabbing a single share. PDOS seems similar, with immense potential on the other side of inevitable adversity, which will likely affect the PPS.
Best of luck to all. Wouldn't surprise me to see this company get huge over time, but I'll watch from the sidelines for now.
"Sounds like 2 very good alternatives to me"
Here are two more:
1) Develop Bonanza Hills instead of Pebble
2) Develop BCSP instead of Pebble
Gracias, Imcat...
Thanks for the PM. This is a great story that looks to become greater as details are revealed.
This is being pumped...
...and the 5-year chart looks like a seismic reading for Fukushima.
"top 10 longs...above .006...will profit..."
Watched since April 2010, bought the lion's share at .0016 a few weeks ago. Let them beat it down there again. Cash is waiting...
"...not many shares available..."
I flipped a bit to get freebies, but also to test the liquidity and ease of trading going in. Not terribly easy to get a bid filled or to sell at times, even hanging above the ask for a while.
Admittedly my position is small potatoes, but seeing the potential for a tight float, I wanted to make sure I was good to move in and out if necessary. This is pure speculation at this point, but it's the type of speculation I like. Get to the party early and park behind Mr. Munoz and Mr. Juilland.
Read this and perhaps buy more...
...that's what I'm doing. Page 6:
"As of June 10, 2011, the Company had 261,494,076 issued and outstanding shares of common stock"
http://cxa.marketwatch.com/finra/MarketData/CompanyInfo/secfilings.aspx?guid=8043123&symb=MMTC
Gold still has plenty of run left...
Inflation adjusted, we are still well below late 70's record highs. What's going to pull it back? Nothing we can see from here.
http://finance.yahoo.com/news/Gold-Set-for-Longest-Weekly-bloomberg-1570001924.html?x=0&sec=topStories&pos=main&asset=&ccode=
That's why some of us nabbed cheapies yesterday...
...or so I hear.
Hopefully the BOD can use this company in the current state as a revenue stream for developing the real prize, TBA. I agree that the sudden increase in board marks is interesting.
BTW, I would not be terribly surprised to see some more executive shuffling here. Champney apparently has a few issues that may cause friction, so hopefully Stonehouse is the real face of this operation now and Champney can be beneficial ownership, if necessary. I see this as a company in transition, empowered by metals prices and the revenue they can bring in under current conditions, and now being used by a very impressive new BOD as a means to an end that may look considerably different as events and details emerge. Stay tuned...
Yes indeed...
European friends told me last year it was hard to buy gold through large banks. Writing on the wall, in gilded letters, says +2K by 2012.
Allow me some relevant political tangency...
I hope nobody would think me an unpatriotic US citizen to point out that China educates many more of its citizens per capita in science and engineering fields. Science in particular is recognized as the gateway to being prosperous in the future. Look at China's recent infrastructure achievements, and then look at the commitment they have made to bringing the western provinces online.
I mention this because a businessman from a cutting-edge technological society would be more likely to understand the real implications of a scientific application like ZTEM. The results of Briscoe's work may be better appreciated by our Chinese suitors, and they are also well aware of a pending domestic metals demand that is absolutely critical to their place in the 21st century. As much as they will play close to the vest, the trends at work behind the curtain are well known and not easily reversed.
They need what we have. Make 'em pay, Larry!
146K of convertible debt = 182,000,000 shares @ .0008
Of course they could always print more if the red ink continues. I'd need to see a bit more concrete figures for the O/S before I'd test the waters here. The approach and properties look decent as a business model, but the A/S is a bit scary when you don't know who's ready to flood the float at any minute..like now...this volume is a bit unreal, if you know what I mean.
Got a link?
Scottrade isn't exactly marketwire.
"If Peter Hug is right, this frenzy for gold is likely to continue. The director of the precious metals division for Montreal-based Kitco, one of the largest dealers of precious metals, says gold is no longer "just for the crazy people" -- Henny Pennys expecting the sky to fall.
Hug says that until the U.S. tackles its debt and deficit problems, there's no limit for the price of gold.
"As long as people are terrified that their purchasing power is going to be eroded, gold goes to $3,000 an ounce," Hug says."
http://finance.yahoo.com/news/A-big-bounce-ounce-by-ounce-apf-2335343368.html?x=0&sec=topStories&pos=main&asset=&ccode=
I was watching this about a year ago...
31 years is a long time to develop feasible models and secure contracts. They might need to buy a few more congressmen. My condolences to the RS recipients. It seems the PPS has about as much chance of flying as one of their drones.
But never say never. GLTA.
Funny...
Here is a blog site that mentions MMTC. The description shows you how much time they put into actually understanding what the company does.
http://www.undiscoveredequities.net/breaking-news/coin-thra-lbas-mmtc-srch-are-the-undiscovered-equities-net-movers-and-shakers-at-the-close/
Thought I saw a pattern emerging early in the week...
That early pop M & T looked funny, so I put half my (tiny) position up at a price that would average the rest down to almost free. I wanted to test the liquidity here and see how easy it would be to take profits over time. Order sat at the ask for half a day, but did sell. I expected the price to hit early today, but it went through late yesterday instead.
Now my average is obscenely low and I expect to replace the flipped shares on a dip, should we be so lucky. Interest is growing by the hour here it seems. Concur that the psychological barrier of .01 will bring more, as will a glance at the YTD highs, the BOD additions, and the revenue potential evident in the mill and claim acquisition at Chloride.