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So Many Here Investing In Hope
I took a small position because it was worth a flier, but it appears a few here are in pretty deep.
The flow of the news and corresponding price action certainly smells of a P&D. Unfortunately, usually, by the time people realize it, it's too late and the SEC can do nothing about it.
Hoping it's a different case here but I have to trade what I see.
Wonder if WallStreetTopGun got out...
Now Down Over 50% From The Recent Pump
Down 16% today. The Dump continues.
Textbook.
And Yet The Stock Trends Down
Because there are very few who believe they will ever see a dime from this. Can anyone find if the "South African company" even has 25 million, let alone a million?
There was also interesting timing on their announcement of insider ownership earlier this month, followed by the news. If we ever get another company filing and insider stakes have not decreased, I will say that is a big positive.
Long Way Down After .70
The dump continues.
Maybe they'll announce another licensing deal to get a little more out of it...
Actually, Try Reading My Posts
If you did, you'd know I'm long.... rather than getting bitter and calling me a short. I am still in the black on this one but I can admit when I am wrong. If this agreement was it, and/or they never see one cent of the "25 million", I will admit full failure in purchasing some shares.
Right now, it sure looks I'm wrong for going long as this has all the checkmarks of a P&D.
If this goes lower and they actually get money for something, I will have no problem doubling down on the way back up.
Pump & Dump 101
Any questions?
My Point: It Was Only An Annoucement
Micro/penny stocks have done this before.... sometimes to get people out of shares at a higher price. It doesn't take much to throw together an 8-K in today's world, unfortunately. Getting the money in-hand is quite a different story.
I Read Your History, WSTG
You have indeed had an objective view, for which I commend you.
I do think "$2.00 by Friday" is quite overly bullish, however, given that there needs to be clarification with some of the math that Gregory brought up.
Aside from that, it comes down to whether they get the money or not within the next six months. If there are no other announcements/agreements, price will deteriorate substantially from here.
If they do wind up getting the $25 million and there are other announcements of agreements, even $2.00 is a fraction of this stock's potential. This is why I own shares.
I just think there are a few out there who are way too bullish in the near term. However, I would love to be wrong.
Good Work, Gregory
And you didn't even bring up the lack of transparency regarding the South African company.
This kind of analysis beats "buy & hope" any day.
I Hope You Are Right
However, I will contain my enthusiasm until there is additional confirmation.
I have seen this exact situation happen before with micros and am very curious to see if this plays out differently.
I Am Talking Financials
Any half-brain can read an 8-K.
Have Documentation For The Mystery South African Company?
No?
I did not think so.
It is a fair question.
I am long because if this somehow turns out to get the funding, it will be huge. It is worth the small risk to me.
Getting the funding marks the next leg... and that would be much, much higher.
Until there is proof, however, I do not expect this to surpass yesterday's highs anytime soon unless there's another big agreement with another "mystery partner".
Silly me for asking real questions and not banking solely on hope.
I take it you are in the camp of the "Wall Street Top Gun" guy, thinking this will go to $2.00 by Friday for no reason whatsoever.
This Follows These Types of Stocks Exactly
These companies sign agreements with unknown companies halfway around the world of which no one has heard of, hoping the headline dollar amount will boost the stock. While the insiders dump, the retail guys hold the bag.
I'm comfy with my price level and position size in this one, and hopefully others have managed risk as well.
The main concern is that the money never comes in, and this thing proves to be a pump and dump operation.
George Said Ironridge Would Be Gone By NOW
Yet another failed Alvarez promise.
If things were going well as he states, it would not take a year to get rid of Ironridge.
Not to mention, if there was a White Knight investing group, why did he not even so much as give them the time of day? Perhaps they could have helped with the Ironridge problem.
This would have benefitted shareholders greatly and it seems like common sense to have at least heard them out.
As each day passes, this reeks more and more of fraud.
*IF* The Funding Goes Through, You Are Correct
My bid to double down at .75 was hit so I am somewhat happy about that.
I will be thrilled if ALLM actually sees the money agreed upon.
I am still skeptical because I have seen the sham before but the opportunity here possesses explosive potential, so it's worth some risk (from my perch).
Don't Mean To Say I Told You So, But...
The rout is on after the ol' "Funding at a later date" news was announced.
Textbook pump and dump.
8 Breaks And The Rug Gets Pulled
Still, just above 8 is not a bad spot for a small attempt on the long side with a stop.
Not Short. Small Long Actually
I just don't count chickens before they hatch.
Agreements are just that. Now if the money actually comes through? Different story.
A lot can happen in the price in six months. There could even be an extension that pushes things back.
All I am saying is that it has happened before to where an agreement has been signed, a stock gets pumped, then dumped, and the little guy holds the bag. Perhaps this time is different.
Not betting the farm, though.
*IF* The Funds Flow
I would certainly agree. Until then, cue up Cuba Gooding Jr. & "Show Me The Money" as it's a bet on hope of news... which is an awful investment strategy.
Today's Shooting Star (Chart) Says Otherwise
Looks like sellers took their news and sold it.
I would caution those who jump in after news, as I have seen many a penny stock play out. I have seen news releases where a company is announced to receive large amounts of funding at a time period TBD and it never materializes. What does materialize, is that company insiders use the hope to sell the stock. If ALLM gets their money, this will explode higher. Until then, it's hope for more news...and hope one of the news items actually comes to fruition. Otherwise this will get sold down further before there's a rebound.
Post 6187 - From George Alvarez to "KDog"
"George finally emailed me back ... He predicts that the they will be rid of ironridge in one year. His plan is to have hem gone before April of next year"
George Alvarez Kicks The Can Yet Again
He is now pushing back an Ironridge resolution to 2016.
This man is a mockery to the title of CEO. If the company were making decent money, they would not have to wait another year(!) to get rid of Ironridge.
By the way, George Alvarez said Ironridge would be gone by this time, this year.
You can expect the same can-kick in one year's time, I assure you.
This is screaming "SCAM" and/or "FRAUD" louder by the day.
Truly amazing.
DID GEORGE GET RID OF IRONRIDGE YET?
No?
But he said that they would be gone by early 2015?
Add it to his terribly long list of lies.
I do not know why some here take his word as gospel. Why don't you ask him real questions?
Most importantly, why did he not engage with the white knight investing group that was posted here long ago?
Of all things, it reeks of something bad. Most likely to the benefit of his inner circle.
Any Day Now, Ironridge Should Be Gone - LOL
That is what George Alvarez said last year, anyway. He had a plan and Ironridge (now Dragonox) would be gone by the first part of this year. One of the message board posters should call him out on that and see what he says. We could use some more lies to laugh at around here.
This man is a mockery to the title of "CEO".
George Alvarez Is Hoping Everyone Forgets About VELA
He is indeed dragging everyone along for the ride. There is no strategy, or else we would actually hear one. He has turned down a white knight investing group. He can not file financials. He said Ironridge/Dragonox would be a memory early this year. It is now March. Smoke, mirrors, lies, etc.
DID GEORGE ALVAREZ GET RID OF IRONRIDGE YET?
No?
Why not?
Because he can not.
George Alvarez Will Never Say The OS
Nor will he say how much is still owed to Ironridge. This is because the amount is still most likely astronomical, and would kill any remaining buying interest. This thing is dead until Ironridge goes away, which means its dead for a long time.
I would also bet that he will not comment on his "Ironridge takeout" plan... BECAUSE THERE IS NONE!
How Is The Ironridge Takeout Going, George?
VNDM has returned to snuff out any bids. It sure looks like George Alvarez's plan is true to form... total bullcrap. The man has the clout of a clown.
So It's Back To Hoping The SEC Will Save VELA
WOW. George Alvarez is dancing yet again.
The last time we heard something, he stated he had a solution for the Ironridge problem early this year.
Now he is back to putting it on the SEC, who will do nothing.
Does everyone see the problem, here?
The man keeps changing his answers regarding the biggest problem that affects the stock.
2015 will be another miserable year of nothing for VELA shareholders if this is the case.
How is George Alvarez's Ironridge Plan Working?
Just like everything else - all hot air.
As I Also Respect Your Realism
Facts simply are not there to support the Pollyannaish views of some here.
I Have Done Nothing But Doubt Alvarez
My going assumption is that this is some sort of fraud because he has kicked the can for so many years, plus his decision to ignore the White Knight investor group. However, if Ironridge were to actually be gone and subs from China Motion actually exist as George Alvarez pounded his chest over upon acquisition, fortunes could change.
Until George Alvarez shows meaningful sub numbers, I am not assuming anything about Velatel making money.
Ironridge Is One Step, Revenue/Subs Is Two
The share price will not move without revenue from subscribers. George Alvarez has talked a big game regarding this and Velatel should have something to show for it by now. The silence is keeping any potential interest at bay.
On your Kirkland-leaving note, I also see VNDM has left the ask. It could be a coincidence, but it is interesting nevertheless.
Where Did You Hear About Kirkland?
If true, this would be somewhat interesting. Perhaps Ironridge is closer to being done with VELA shares than we think. Then again, this could be a rumor.
I have said all along that if Ironridge gets out of the picture and Velatel actually has revenue, this could ramp.
I would then want to know if George Alvarez is actually making money from the subscribers he was once touting. It is getting close to the time to put up or shut up.
Why Is Something Cooking? What Resistance?
This sounds like your opinion.
I see resistance at .0002 because market manipulator VNDM is at that ask price, along with another 70-80 million shares.
99 out of 100 would call that resistance.
So Ironridge Is the Problem. What About Revenue?
Ironridge is the biggest problem, I do agree. However, the stock will not go up if they are not making any money.
George Alvarez Always Has A Plan
That is the problem. All grand designs with ZERO results.
If a stock's value were based on plans and promises, this thing would be $1,000 a share.
Still No Filings. A Fraud?
There are no official filings, just a post on a website. Highly unprofessional.
This company now seems like it it run out of someone's basement, perhaps even the one of the George Alvarez palace.
George Alvarez Did Not Say That
"Ironridge was the biggest single mistake i have ever made and expect to have them paid off by early next year." - George Alvarez
He did not mention how he was paying them off. He did not mention he would be doing it with cash.
Personally, I believe he does not have cash, so stock will be used until Ironridge is gone... however long that may take.
He Could, But With What Money?
Come on, now. Really.