Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
PennyWorld, I'm not positive, but I think a 144 filing is for individually held shares.
Plus, I'm pretty sure that 144 filings don't have to be made until a couple of weeks after the fact.
re; UDW........
Not my first choice for a play.
currently at 3.40
They did a 1:5 RS on 9/29
Three weeks before the split they increased the OS by over 40M shares,(about 80%) and a few days after the split the added almost 3M more to the new OS.
Currently, the OS is between 21M and 24M, depending on how many warrants and CDs have been dumped,(purchase price of 2.00).
These guys are playing with the numbers(another Nevada Corp.), but if they leave it alone, it should bottom/bounce around .34
A long way to go.
PennyWorld, from my position, the ARSW play is over.
I don't follow the company, but I agree, looks bad.
the ref0, I'll look at it, thanks.
CWLC news...at.72, chart looks strong..
DENVER, Oct 28, 2003 /PRNewswire-FirstCall via COMTEX/ --
China Wireless Communications, Inc., (OTC Bulletin Board: CWLC) today announced that the Company is extending the reach of its Broadband Wireless Access Network in Beijing, China. Through an agreement with MCI, China Wireless will be adding MCI International ATM [asynchronous transport mode] services to reach North America, South Pacific, Asian and European markets to its existing suite of broadband network offerings.
Kent Lam, President of In-Touch Communications, a wholly-owned Beijing subsidiary of China Wireless Communications, said, 'Our goal is to provide our clients complete broadband network solutions, with unparalleled quality of service levels. This agreement allows our clients to combine the speed and availability of the China Wireless'broadband access network with the international reach of MCI's network.'
Barry Adams, President, NAVIS Communications, an MCI Solutions Partner who consulted on the agreement, said, 'China Wireless now has the ability to bring a full suite of network offerings to their enterprise clients in China where these services were not previously available.'
NVTL news.........
SAN DIEGO, Oct 27, 2003 (BUSINESS WIRE) --
Novatel Wireless, Inc. (Nasdaq:NVTL), a leading provider of wireless data communications access solutions, today reported financial results for the third quarter ended September 30, 2003.
Net revenues for the third quarter were approximately $8.1 million, a 36% increase from $5.9 million in the same period last year. During the quarter, gross margins significantly improved to 27.2% and the Company cut operating expenses by 50% from the prior year period. These improvements resulted in an EBITDA loss of only $169,000 for the third quarter, a $2.2 million improvement from the prior quarter, as the Company made steady progress toward cash flow break even. The net loss under GAAP was $1.8 million, a $3.2 million improvement from $4.9 million reported in the same period last year.
Net loss applicable to common shareholders was $2.8 million, or $0.34 per basic and diluted share, which includes non-cash charges of $0.9 million for the accretion of dividends and non-cash interest charges for the beneficial conversion feature on the December 2001 Series A Preferred Stock issuance and the May 2003 Series B equity and debt financing transaction.
'As the market strengthened for our leading products, we made great progress in the third quarter and our customer commitments for 2004 continued to grow,'commented Peter Leparulo, Chief Executive Officer of Novatel Wireless. 'Our new enhanced agreement with Lucent on UMTS and solid shipments for GPRS represented important milestones for the Company. Over the next six months, we are closely focused on introducing our next generation of CDMA 1X, GPRS and UMTS products and have significant volumes under contract for new product introductions. We expect these new products to contribute to solid momentum in our business and new relationships with key carriers. Additionally, purchase orders in China for product deployed on the China Mobile network represent the next step in our strategy in Asia and Europe, where we are building direct selling efforts with carriers and regionally located representatives to reach these key markets, rather than relying purely on multi-tiered distribution partners.'
'Importantly, our business model also continues to improve, with a 74% sequential decrease to our operating loss,'added Mr. Leparulo. 'Moving forward, we expect to see a sequential increase in revenues of 20-25% and reach cash flow break-even in the fourth quarter.'
Recent highlights include: -- On September 8th, Novatel Wireless announced commercial availability and shipments of the Merlin G301(TM) GSM/GPRS Wireless PC Card Modem through the world's largest mobile operator, China Mobile Communications Corporation. -- On August 18th, Lucent Technologies, Inc. and Novatel Wireless announced that they will collaborate on the continued development and commercial release of the Merlin U530(TM) to mobile operators throughout Europe and Asia. Novatel Wireless will be one of Lucent's key suppliers of 3G PC cards and could receive orders valued at as much as $50 million over an 18-month period depending on customer demand. -- In August, Sprint announced a multiyear agreement with the Transplant Resource Center of Maryland to provide PCS Connection Cards by Novatel Wireless (Merlin C201) for their personnel to use with laptops when conducting on-site evaluations and coordination of organ donor suitability. -- Recently, Novatel Wireless appointed Horst J. Pudwill to its board of directors. Mr. Pudwill has over 20 years of international manufacturing, brand building and corporate acquisition experience in North American, Asian and European markets. -- During the third quarter, the Company was honored as one of the 2003 Deloitte &Touche Technology Fast 50 Program winners for San Diego, a ranking of the 50 fastest growing technology companies in the San Diego area. -- In October, Qualcomm awarded the cdmA-List Award(TM), for significant financial, humanitarian or industry impact, to two Sprint PCS customers using the PCS Connection Card (Merlin C201) by Novatel Wireless.
'This quarter, we significantly improved EBITDA and came closer to cash flow break even by increasing gross profit by over $2.5 million sequentially and further reducing SG&A,'commented Melvin Flowers, Chief Financial Officer of Novatel Wireless. 'Additionally, we improved our balance sheet, as cash increased for the second quarter in a row and we currently have no outstanding bank debt. We are comfortable that we are driving steadily to operational profitability and expect to reach cash flow break even in the fourth quarter.'
Novatel Wireless will host a conference call for analysts and investors today to discuss its quarterly results at 5:00 p.m. ET on October 27, 2003. Open to the public, a live Web cast of the conference call will be accessible from the 'Investor Relations' section of the Novatel Wireless Web site (www.novatelwireless.com). Following the live Web cast, an archived version will be available on the Novatel Wireless Web site.
ARSW just filed a S-8 for 200M shares to be sold as options.eom
USXP news..(kinda...:)
BOCA RATON, Fla., Oct 27, 2003 (BUSINESS WIRE) --
Universal Express, Inc. (OTCBB:USXP) announced today the appointment of Mr. Delroy Davidson, PMP Ph.D. as Operations Policy Director.
'Mr. Davidson brings a wealth of experience and expertise to our team with a direct concentration on business management, policy and planning. Mr. Davidson has embraced the important role of successfully defining and fulfilling our specific business planning requirements within the various subsidiaries and divisions of Universal Express. This is such an exciting time at Universal Express with the level of anticipated growth, making the timely addition of Mr. Davidson a purposeful and strategic move to facilitate the conversion of our strong revenue gains into affective operational results,'stated David Russell, President of Universal Express Capital.
Mr. Davidson has 20 years of experience in business planning and implementation within large corporations and structured international government organizations. Recently, he had the opportunity working with the Canadian Government developing an Integrated Business Management Framework in support of their many service delivery programs and projects. His knowledge of governmental planning and processes will also prove instrumental in assisting Universal Express in the integration of significant upcoming developments with various governmental agencies relating to USXP subsidiary expansion and related acquisitions and projects.
'The talents and vision of the Universal Express team positions us to serve in a key role for some long overdue changes in the travel, transportation and logistics dynamic existing today. I look forward to playing an important role in the company's continued growth and success in what promises to be truly a significant piece of Americas' history,'stated Mr. Davidson.
From the POS AM filing for TRZA....
On the 18th day of September, 2003 Trezac issued common stock, par value $0.0001
to Harvey Goralnick, for 2,000,000 shares; John Hopf, for 15,000,000 shares; Sir
Christopher Thompson, for 15,000,000 shares; Collin Hill, for 15,000,000 shares;
and, Olesa Grosu, for 15,000,000 shares in consideration of their consulting
services to the Registrant.
Subsequent to the date of such issuance of the 62,000,000 common shares for the
consultants listed above, the board of directors of the Company have unanimously
decided to cancel these shares. These consultants have not provided any
services to the Company, and, as such, the board of directors have decided that
it is in the best interest of the Company and its shareholder to deregister
these shares. Management has notified Madison Stock Transfer, the Company's
stock transfer agent to cancel the certificates representing 62,000,000 shares,
as of the date of this Post-Effective Amendment No. 1.
I wish we saw more companies do this.
Unfortunalely, at .005, something seems to be pushing the PPS down.
Just from a thumbnail look, this seems to be very underpriced.
APXR news.....
SALT LAKE CITY, Oct 27, 2003 (BUSINESS WIRE) --
Apex Resources Group (OTCBB:APXR) announces signing of gas well drilling agreement.
Apex Resources Group Inc. has signed an agreement to participate in a gas well drilling prospect in Goliad County, Texas at Manahuilla Creek. The operator, PB Energy USA, Inc. has agreed to assign to Western Gas Corporation 2.5% Participating Interest Share in the prospect for a cost of $7,500.00. Western Gas will have a net revenue share of 1.875% of 75% of the well upon completion. PB Energy expects drilling to a depth of 6400 feet to begin in the Spring of 2004.
Apex has taken the time to redesign the website. Information on existing projects has been updated and posting materials will be much easier. The new design should also be clear and easy for visitors to navigate.
By the Board of Directors Apex Resources Group Inc. Investor Relations - Roger Reynolds Suite 1600 - 136 East South Temple Salt Lake City, Utah, 84111 801 363.2599 www.apexresourcesgroup.com
The foregoing contains forward looking statements. For this purpose any statements contained in this document that are not statements of historical fact may be deemed to be forward looking statements. Without limiting the foregoing, such words as 'may', 'will', 'believes', 'anticipates', 'estimates', 'continue', or comparable terminology intends to identify forward looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending upon a variety of factors, including but not limited to, the successful negotiation and execution of the definitive acquisition agreement and receipt of certain exhibits and schedules requested by Apex Resources Group Inc.
SOURCE: Apex Resources Group Inc.
Apex Resources Group Inc. Roger Reynolds, 801-363-2599 (Investor Relations)
FNIX news..........
SALT LAKE CITY, Oct 27, 2003 (BUSINESS WIRE) --
Fonix(R) Corp. (OTC BB: FNIX), an international provider of award-winning speech solutions, announces that Meridian Environmental Technology, a leading provider of weather forecasting and analysis services, has deployed a multistate traveler information service beginning in North Dakota; the system utilizes Fonix speech technology.
In July 2000, the FCC assigned 511 as the number for nationwide access to traveler information. 511 was designated as a free service and when fully implemented will cover the majority of roads in the United States, helping travelers avoid congested routes and safety hazards. Meridian and Fonix have partnered to incorporate Fonix's standards-based s.Manager(TM) integration platform into Meridian's 511 traveler information system.
Meridian's 511 system using Fonix technology is currently available in North Dakota, with other states scheduled to deploy the system in the near future. As the 511 system expands coverage across the United States, it marks a significant revenue opportunity for Fonix. Fonix licenses its speech technology to Meridian under a nonexclusive contractual agreement. Under the license agreement, Meridian can purchase additional ports as they expand their service to other states.
'By adding speech technology to the 511 system, Meridian offers the state's travelers the most convenient access to advanced travel-related information,'said Mark Owens, vice president, Meridian Transportation Services. 'Fonix speech interfaces are particularly useful on the road; rather than dialing numbers, callers can simply speak the appropriate requests to access needed information. They don't need to take their eyes off the road or their hands off the wheel.'
By dialing 5-1-1, callers can access information about route-specific weather and road conditions. 'The system uses Fonix technology to give callers the easiest and safest interface to getting road condition and weather information,'said Walt Nawrocki, vice president of Computer Telephony Integration (CTI) at Fonix. 'The caller just asks for information on a specific section of highway, and the application using Fonix's speech interface queries a database for that highway and speaks the information from the database to the caller.'The Fonix solution was built upon the company's standards-based s.Manager, a high-level interface that allows developers to seamlessly integrate speech to various applications.
The Meridian 511 service provides route-specific road and weather conditions for all state, U.S. and Interstate routes. Road conditions are provided as often as every five minutes by the North Dakota Department of Transportation, while weather information specific to the roadway is provided and updated by Meridian at least every hour around the clock. This system is currently the only statewide 511 traveler information system to provide travelers with information on both the current state highway system and surrounding state highway systems
dsertrat, I haven't looked at this particular company, but they usually do a symbol change with a name change.
And the split all add up to an acquisition with new Management.
Basically, the symbol is changed when the whole direction of the company is changed with most or all of the above changes.
FWIW, Chuck said he was checking out for the weekend.
new filing re;FRCD/TNXS.......
A form 3 was just filed by TNXS under the FRCD filings.
TNXS has transferred 3,267,453 shares of their common stock to FRCD.
Considering that FRCD is trading at .04 and TNXS is trading at .18, this may give a significant boost to the FRCD PPS.
Watch for a gapup Monday
FRCD filed 8-K...more info....
FRCD .04
The 8-K clarifies the purchase of 87% of TNXS,(pinks).
TNXS .17
TNXS did a 1:100 RS last may and has a way to go before it bottoms.
Ok Art, got it, thanks...eom
Thanks Art, do you have information on that, or is it a logical guesstimate?
It seems that there should be some sort of filing before a general filing is made.
Contacting the TA is a good idea, as long as the company hasn't put a gag on them.......as some are doing.
USXP news..............
NEW YORK, Oct 23, 2003 (BUSINESS WIRE) --
Universal Express, Inc. (OTCBB:USXP) CEO Richard Altomare expects reduced airfares when airlines model the parcel carriers'system of moving packages. Altomare made specific recommendations about a nationwide luggage movement system in his Transportation Security White Paper 'More Security, Less Hassle for American Travelers: A Private Sector Solution for the Airline Industry'which was disseminated this week on Capitol Hill in Washington D.C. The White Paper addresses the costs associated with transporting baggage. When incorporated by the airlines, he anticipates his plan could result in lower ticket prices.
Richard Altomare states, 'I am proposing a security fee for passengers and a security fee for their baggage. This involves separating baggage from the passengers and encouraging travelers to ship their bags prior to the departure date. The luggage would be transported in a similar manner as the 5 billion parcels shipped annually by businesses and consumers utilizing parcel carriers. Passengers still have the option to carry bags to the airport but will pay a higher separate charge per piece plus a per baggage security fee for the screening service by the TSA and airport authorities. But, the passenger can choose how to handle his own baggage. My plan further enables the airlines to save between $1.6 billion and $4 billion in labor costs due to the diminished need for baggage handlers, damage claims and lost baggage, as well as generating in excess of 250,000 private sector jobs. There will be no reason for airlines to continue to charge additional fees to a traveler that cooperates with the new baggage system. This should result in lower ticket costs. This proposal is further addressed in Tuesday's Congressional Quarterly. We are pleased that our plan is being discussed on Capitol Hill and has drawn the attention of the Capitol Hill media.'
Satish Jindel, a transportation industry expert and Principal at SJ Consulting Group in Pittsburgh notes, 'In order to be financially healthy, airlines should establish a separate charge for transporting bags by unbundling the current airfare for passengers. According to the proposal spelled out in Mr. Altomare's White Paper, parcel carriers offer a model for the airlines, which can be used to restructure airline fares. In the last 15 years, the leading parcel carriers have unbundled their parcel rates. By imposing special charges from 8%-35%, the parcel carrier rates reflected the differences in the customers'needs and the subsequent cost of services. Thus according to the White Paper, with the implementation of a separate baggage transportation charge for check-in and carry-on by airlines and a separate baggage security screening fee by the TSA; a passenger with one small bag will pay less for the total trip than a passenger with two check-ins and one carry-on. These charges will create incentive for passengers to travel with fewer and smaller bags. The result will be enhanced security, and faster movement of passengers in and out of the airport. I applaud the recommendations proposed in this White Paper. Incorporating a separate charge for bags will generate several billion dollars in new revenue for the airlines and should result in lower fares for passengers that travel light.'
For a copy of the White Paper contact: Mr. Ron Garner, Equitilink, 877-788-1940
dsertrat, I just took a closer look at CESY, including that link to company information.
Something doesn't jive.
According the the company info, dated Oct 15, 03, the OS was/is 1.8 billion.
According to the 10Q, on Aug 6 the OS was 639.6 million.
( there were two seperate certifications for the 10Q)
That means, in just over two months, over a billion shares were issued........with no filings or any record of it!
This is a listed company and something like that just shouldn't be.........????????
Please let me know what you turn up........now, I'm curious..
TIA
USXP has dropped down to .087.
If it drops back down to .07 or lower I plan to add.
FWIW
Was just looking at that and XYNY........
PGHI has been showing record volume for the last few days.
This looks like a pullback from profit taking....IMO
As for XYNY, they are up about 200% in the last ten days and still showing strength.
I wish I had known about this before.
So far, it looks like a classic post-RS play from the 1:100 RS they did in March of 02.
Chuck, fear not..You may get another crack at PGHI...
Right now, it's showing a little weakness, .0095,...(profit taking?)
But hey! this stock has to do well..
After all, those are the initials of my old High School, Pacific Grove High...(Go Breakers!....:)
dsertrat, also...........
I have to agree with Art2Gecko, at least in part.
The OS for CESY seems to be much larger than you thought.
The last report I could find was their last 10Q.
As of Aug 6, 03, the OS was 639,687,294
Again, one of my first questions is, "why?"
Plus, are you asking about it long term or short term?
If short term, at .0044 the PPS looks like it will be running flat, at least for now.
dsertrat, ..I don't see how you can get a black and white answer to your question.
Without looking at your example, (CESY), my first thought would be,...... "that would depend."
That would depend on just how critical the "lack of revs" is.
Do they have zero revenues? If that's the case, issuing more stock would be a matter of survival.
Do their revenues, such as they are, not meet their needs?
Do they need revs to pay the rent?
It seems that lately, we are seeing such high numbers in Authorized Shares and Shares Outstanding that we are losing our perspective.
450 million shares is one big OS! The AS means nothing more than a number they can tap into and the number of Authorized Shares can be changed with a simple vote of the BOD.
I guess, before I could say I would or would not expect a S-8 filing to issue more shares, I would have to ask why they have such a huge OS now.
Hopefully, it's because they issued a bunch of shares for things like acquisitions and not just to pay the rent.
In this case, more DD seems to be on the agenda....
sorry I couldn't be more definite.
FNIX PR........
TOKYO, Oct 22, 2003 (BUSINESS WIRE) --
Fonix(R) Corporation (OTCBB:FNIX), an international provider of award-winning speech solutions, announces we will present our speech technology at the Xbox Xfest on October 24 in Japan.
The Xfest is Microsoft's premier event to showcase current and future developments for the Xbox game platform. Fonix expects to further expand our visibility to Japanese game developers by participating in this high-profile event.
Speech-based interfaces signify the next generation of sophisticated games, as users demand more and improved interactive features from the gaming experience. Fonix voice recognition gives players new access to games features, making the experience more engaging and fun. The Fonix speech interface solution is already included in the Xbox development kit (XDK) for game developers, and Xbox games including Fonix speech will be released in the near future.
At Xfest, Fonix will highlight our speech technology capabilities as a part of Microsoft's gaming presentation. Fonix will also showcase our speech technology running on the Xbox platform. The Fonix speech demonstration has been designed in English and Japanese.
About Xfest
The Xbox Xfest takes place at the Nomura Conference Plaza, Nomura building 48F, Shinjuku 1-26-2 Nishi Shinjuku, Shinjuku-Ku, Tokyo. The Xfest office can be reached at 03-5994-7183 from 10:00 -12:00 and 13:00 -17:00, Monday through Friday.
re ABCI, at .008, after months of trading in the thousands, today traded 4.6M shares on no news and no filings, up 166%.
The OS is 24.5M
Susie, well, at least you know what to look for now.
I stopped using a mouse pad about a month after I got my first computer.
With the dirt and grease my mouse picks up from the desk top, I have to take it apart and clean those rollers about every three months.
Chuck, I was just looking at PGHI......
The numbers for today seem to look worse than they really are.
After hours shows a 50K buy for an uptic to .011, which makes the day's trading almost a push.
It may gapup tomorrow and.....
IMO, the chart looks like it has more left.
Most certainly, the volume supports a continuing increase.
Susie924, I guess I'm operating on a significant time delay...
Did you finally get your mouse problem resolved?
I don't know why the old brain waited until now, but it occurred to me that you may have missed something.
Maybe it's because I'm starting to have the same problem, which I'm about to fix. (had it before)
You said, you had "cleaned the ball and checked for dust inside the mouse."
That won't do any good.
Inside a standard mouse you will find three little rollers that make contact with the ball. In mine they are black plastic.
A very fine layer of dirt and grease can build up on those rollers and be almost undetectable. This will produce the exact problems you were having.
What works best for me is to take a few Q-tips, some alcohol and clean the rollers.
Works every time.....
Hope this isn't too much after the fact......:)
Linchuck, based on our earlier conversations.....
The way the company spells program,(programme), is a good hint that this is a British company.......
Another hint is that they use BRIGHTON, ENGLAND in their PR!
OHGAWD!.......I'm bored today......:)
baglady, you're talking about a "limit" order. That's not the same as a stop-loss.
I know of no Brokers who allow stop-loss orders in the Pennies.
But, in theory, putting in a limit sell order causes your Broker to take those shares out of play.
In fact, it doesn't work, because there will always be more shares to borrow if need be.
The article I referred to earlier is very generalized and doesn't say how investors were able to "lock-in" their shares.
dsertrat, when I first started trading online, my first requirement was finding a Broker who would let me do stop-losses on a Pennystocks.
I soon had to reset my priorities.....
So, it's back to my question about that ADOT PR in post 2173.
How were investors able to take control of their stock and "lock up shares," especially on a weekend?
Many times I've heard it said that can be done by ordering the certificates, but I'm still not sure if that's true.
FWIW, I'm not saying the ADOT people didn't do that, I was just wondering how.
hey yo, this may sound crazy and, indeed, I too thought it was wrong when the PPS hit about .13 after the split and then ran back up over .30, but it should drop down to about a penny or lower before it bounces and finally settles down.
Because of the low OS the price is very volatile.
Hey Yo, if XKEM goes back to the pattern I have originally expected following the RS, it should start falling back again.
You should have another opportunity at .11 and quite a bit lower.
we'll see.
FNIX news.......
SALT LAKE CITY, Oct 21, 2003 (BUSINESS WIRE) --
Fonix(R) Corp. (OTC BB: FNIX), an international provider of leading speech interface solutions, today announced they have joined the Oracle PartnerNetwork as a member partner and are teaming with Oracle to deliver joint distributed speech solutions. The respective technologies will enable applications that combine the convenience of speech-based user interfaces for handheld computing devices and the performance and reliability of the Oracle Application Server.
Distributed solutions are essential when customers need the power and connectivity of an application server and direct interaction with a mobile device. This arrangement enables users to issue voice commands and get spoken feedback on information such as medical records, blueprints, customer/account contact information and maps, or to perform financial transactions. Due to the distributed nature of the solution, the mobile device user may be in the field and possibly disconnected from a network, yet still have access to user-friendly speech input/output capabilities.
Typical applications of distributed systems with a mobile speech interface include filling out forms, viewing engineering data, routing items in a warehouse, synchronizing handheld voice dialers with network voice dialers, and tracking shipping deliveries, particularly in situations where the user needs 'hands-free, eyes-free' communication options. 'This technology opens up untapped markets,' said David Thomson, vice president of Distributed Speech Solutions for Fonix. 'With the anticipation and expectation of this combined solution, Oracle and Fonix customers will reap the benefits of a distributive architecture that will lead to new sales and licensing opportunities.'
Visit www.fonix.com for an introduction to Fonix's complete suite of speech solutions, or contact a Fonix representative at 801-553-6600 and say 'Sales.'
Mark, I know of no Broker who will let you put a stop-loss on a Penny stock.
Do you?
New USXP PR....................
NEW YORK, Oct 21, 2003 (BUSINESS WIRE) --
Universal Express, Inc. (OTCBB:USXP) announces CEO Richard Altomare is in Washington DC on the eve of a meeting convened by the SEC to address naked short selling. Altomare is lobbying members of Congress suggesting positive solutions to the naked short selling issue.
Universal Express, one of thousands of companies that are victims of naked short selling, describes it as the electronic churning downward of shares of developing OTCBB companies by broker dealers and market makers who never intend to or fail to cover short sales. USXP contends that this practice amounts to counterfeiting stock and is separate and distinct from legitimate short selling.
The SEC outlawed most naked shorts in 1936 and because of recent pressures plans to consider a new Regulation SHO on Wednesday, October 22, at its 10 a.m. meeting. The new Regulation SHO is expected to require short sellers in all equity securities to locate securities to borrow before selling short, and add further requirements to address 'naked'short selling.
Richard Altomare recommends the following actions be endorsed by Congress and the SEC:
-- The SEC immediately enforce all existing laws pertaining to shorting in the 1933 and 1934 Securities -- Anyone outside the U.S. requesting access to U.S. Securities Markets must agree to comply in full with U.S. securities and market laws, rules and regulations. -- Rules prohibiting Sale of Unregistered Securities must be rigorously enforced. Naked shorting is such a violation. -- Any short sale must be done only after an 'Affirmative Determination'is made regarding the ability of the trader to borrow the shares sold short for delivery within 3 days. -- All trades must settle and clear within three trading days from trade date. -- Use of whip calls, kiting, electronic counterfeiting and other such manipulations be subject to racketeering laws. -- Shares may only be shorted on a zero or zero plus tick, except for registered market makers and recognized arbitrage traders for their own accounts only and not for client accounts. -- DTCC must maintain the 'identity type'of accounts for shares transferred to its custody. Shares held in Cash, Excess Margin, ERISA and similar accounts not be lent under any circumstance. Already an existing rule, it is being ignored. -- Real penalties be imposed including interest charges and sanctions for any trades left unsettled after 3 days. A 10-day fail be immediately treated as a broken trade. -- Broker-dealers, clearing firms and clients shown to be engaged in attempts to circumvent the above guidelines be formally sanctioned once, and lose their licenses for a second offense.
'Naked short selling is economic terrorism. Universal Express and many other developing public companies are daily victims. We have been relentless in our pursuit of the naked short sellers. A jury of American citizens has awarded USXP punitive damages as a result of naked short sellers manipulating our stock, yet it continues for us and for many others. I have publicly called upon our shareholders to contact their Congressional representatives asking for the end to illegal naked short selling. I have written members of Congress and am personally meeting with them this week. I am most willing to work with my fellow Chief Executive Officers of developing and established companies to assist the SEC in their deliberations. I am here today pursuing this agenda and very hopeful the new leadership will consider regulatory reform,'stated Mr. Altomare.
Does anyone have a handle on XKEM?
This stock bothers my sense of "rightness."...:)
Currantly at .12-.13, which, if you allow for the 1:3000 RS, is an all-time low PPS.
As of 8/27, the OS is only 6,834,352
Trading volume is pretty high, but the PPS keeps slipping.
What news they have had is good and they are in a popular sector, (medical).
So.............what's wrong?
Linchuck, the VIVI MMs probably don't know how to respond to today's PR.
Normally, something like this news would be very positive, but their track record is pretty bad.
Now, they are selling tickets to ride on a plane that has never flown......:)
securesources, A serious question......
How were those "investors" able to "lock up" their shares, especially on a weekend?
TIA
Linchuck, BTW........
That article was sent to me by StockPatrol.com. Somehow, they got my addy and put me on their mailing list.
If nothing else, their articles are educational reading.