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.
OTC/OTCBB stocks don't trade after hours. My guess is someone gave an MM a bunch of stock to sell. The 300K posted after close represents one side of a trade which was sold off earlier in smaller blocks to others.
Status on lawsuit....
U.S. District Court
District of Oregon (Portland)
CIVIL DOCKET FOR CASE #: 3:06-cv-00607-HU
ReliOn, Inc v. Hydra Fuel Cell Corporation
Assigned to: Magistrate Judge Dennis J. Hubel
Cause: 35:271 Patent Infringement
Date Filed: 04/28/2006
Jury Demand: Both
Nature of Suit: 830 Patent
Jurisdiction: Federal Question
Plaintiff
Relion, Inc
a Washington corporation
represented by Breton August Bocchieri
Thelen Reid & Priest
333 S. Hope Street
29th Floor
Los Angeles, CA 90071-3048
(213) 576-8000
Fax: (213) 576-8080
Email: bbocchieri@thelenreid.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Jinntung Su
Perkins Coie,LLP
1620 26th St.
6th Floor
South Tower
Santa Monica, CA 90404
(310)788-3279
Fax: (310)788-3399
Email: jsu@perkinscoie.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Nguyen Huu Nguyen
Thelen Reid & Priest LLP
333 South Hope Street
Suite 2900
Los Angeles, CA 90071
(213) 576-8000
Fax: (213) 576-8080
Email: nnguyen@thelenreid.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Scott D. Eads
Perkins Coie, LLP
1120 NW Couch Street
10th Floor
Portland, OR 97209-4128
(503) 727-2192
Fax: (503) 727-2222
Email: eadss@perkinscoie.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
V.
Defendant
Hydra Fuel Cell Corporation
a Nevada corporation
represented by Johnathan E. Mansfield
Schwabe Williamson & Wyatt, PC
1600-1900 Pacwest Center
1211 SW Fifth Avenue
Portland, OR 97204
(503) 222-9981
Fax: (503) 796-2900
Email: jmansfield@schwabe.com
TERMINATED: 08/09/2006
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Michael D Vergamini
Michael Vergamini, PC
399 East 10th Avenue
Suite 205
Eugene, OR 97401
(541) 302-1800
Fax: (541) 302-1801
Email: mdvergamini@efn.org
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Counter Claimant
Hydra Fuel Cell Corporation
a Nevada corporation represented by Michael D Vergamini
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
V.
Counter Defendant
Relion, Inc
a Washington corporation represented by Nguyen Huu Nguyen
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
Date Filed #
Docket Text
04/28/2006 1 Complaint Filing Fee in amount of $350 collected. Receipt No. 9189 issued..Filed by Relion, Inc against Hydra Fuel Cell Corporation. No summons issued. (Attachments: # 1 exhibit)(ljl, ) (Entered: 05/02/2006)
04/28/2006 2 Discovery and Pretrial Scheduling Order and Notice of Case Assignment to the Honorable Dennis J. Hubel. Discovery is to be completed by 8/28/2006. Joint Alternate Dispute Resolution Report is due by 9/25/2006. Pretrial Order is due by 9/25/2006. Ordered by Judge Dennis J. Hubel. (ljl, ) (Entered: 05/02/2006)
04/28/2006 3 Corporate Disclosure Statement. Filed by Relion, Inc. (ljl, ) (Entered: 05/02/2006)
05/02/2006 4 Patent Report: This report is submitted pursuant to Title 35 Section 290 USC which requires the clerks of the courts of the United States, within one month after the filing of an action under this title shall give notice thereof in writing to the Commissioner, setting forth so far as known the names and addresses of the parties, name of the inventor, and the designating number of the patent upon which the action has been brought. (ljl, ) (Entered: 05/02/2006)
05/11/2006 5 Order Granting Application for Special Admission Pro Hac Vice of Jinntung Su for Relion, Inc. Application Fee in amount of $100 collected. Receipt No. 9390 issued. Signed on 5/11/06 by Judge Ancer L. Haggerty. (COUNSEL - PLEASE NOTE that this action is assigned to Magistrate Judge Dennis Hubel; therefore, you need to put the initials HU after the case number instead of HA.) (md, ) (Entered: 05/11/2006)
05/24/2006 6 Return of Service Executed (filed as Declaration of Service). Hydra Fuel Cell Corporation served on 5/12/2006. (ecp, ) (Entered: 05/25/2006)
05/26/2006 7 Order - Granting Application for Special Admission Pro Hac Vice of Breton August Bocchieri for Relion, Inc.. Payment received; paid in full. Signed on 5/26/2006 by Judge Dennis J. Hubel. (ecp, ) (Entered: 05/26/2006)
06/05/2006 8 Unopposed Motion for Extension of Time to Respond to Relion's Complaint. Filed by Hydra Fuel Cell Corporation. (Mansfield, Johnathan) (Entered: 06/05/2006)
06/05/2006 9 Memorandum in Support Unopposed Motion for an Extension of Time to Respond to Plaintiff Relion's Complaint. Filed by Hydra Fuel Cell Corporation. (Related document(s): Motion for Extension of Time8.)(Mansfield, Johnathan) (Entered: 06/05/2006)
06/06/2006 10 RECORD OF ORDER by Judge Dennis J. Hubel: The Unopposed Motion for Extension of Time to Respond to Relion's Complaint. filed by defendant Hydra Fuel Cell Corporation 8 is GRANTED, up to and including July 7, 2006. (kb, ) (Entered: 06/06/2006)
06/07/2006 11 Notice of Change of Address and/or Business E-mail Address. Filed by Scott D. Eads appearing on behalf of Relion, Inc.(Eads, Scott) (Entered: 06/07/2006)
07/07/2006 12 Answer to Complaint with Jury Demand Defendant Hydra Fuel Cell Corp.'s Answer and Counterclaim for Declaration of Patent Non-Infringement, Counterclaim Relion, Inc. Filed by Hydra Fuel Cell Corporation.(Mansfield, Johnathan) (Entered: 07/07/2006)
07/07/2006 13 Scheduling Order by Judge Dennis J. Hubel: A Rule 16 Conference is set on August 15, 2006, at 9:30 a.m. by telephone. The court will place the call. Local Rules 16.2(b) and 26.1(a)(b) require that counsel confer prior to the conference. At the conference, counsel should be prepared to discuss the status of the case, relevant dates and deadlines, and any other significant issues. Plaintiff shall advise the court at the conference whether or not there will be full consent to proceed before magistrate judge in the case. If consents are going to be filed, it is helpful if they are filed prior to the time of the conference, particularly with respect to the setting of trial. (kb, ) (Entered: 07/07/2006)
07/27/2006 14 Motion to Withdraw as Counsel. Filed by Hydra Fuel Cell Corporation. (Mansfield, Johnathan) (Entered: 07/27/2006)
07/27/2006 15 Memorandum in Support of Motion to Withdraw as Counsel. Filed by Hydra Fuel Cell Corporation. (Related document(s): Motion to Withdraw14.)(Mansfield, Johnathan) (Entered: 07/27/2006)
07/27/2006 16 Declaration of Johnathan E. Mansfield in Support of Motion to Withdraw as Counsel. Filed by Hydra Fuel Cell Corporation. (Related document(s): Motion to Withdraw14.)(Mansfield, Johnathan) (Entered: 07/27/2006)
07/31/2006 17 Reply to Defendant's Counterclaim. Filed by Relion, Inc. (Related document(s): Answer to Complaint, Counterclaim12.)(Eads, Scott) (Entered: 07/31/2006)
08/03/2006 18 Order - Granting Application for Special Admission Pro Hac Vice of Nguyen Huu Nguyen for Relion, Inc. Application Fee in amount of $100 collected. Receipt No. 10708 issued. Signed on 8/3/2006 by Judge Dennis J. Hubel. (ecp, ) (Entered: 08/04/2006)
08/04/2006 19 Unopposed Motion for Extension of Time to File a Response/Reply to Motion to Withdraw14. Filed by Relion, Inc. (Eads, Scott) (Entered: 08/04/2006)
08/09/2006 20 RECORD OF ORDER by Judge Dennis J. Hubel: Plaintiff's Unopposed Motion for Extension of Time to File Opposition to Motion to Withdraw as Counsel 19 is granted, up to and including noon, August 14, 2006. The Motion to Withdraw as Counsel 14 for defendant, filed by Jonathan E. Mansfield of Schwabe, Williamson & Wyatt, P.C., will be heard at the time set for the Rule 16 Conference on August 15, 2006 at 10:30 a.m. by telephone. Attendance at the conference by a corporate representative for the defendant is required. (kb) (Entered: 08/09/2006)
08/09/2006 21 Notice re Motion to Withdraw14 as Counsel. Filed by Johnathan E. Mansfield appearing on behalf of Hydra Fuel Cell Corporation. (Related document(s): Motion to Withdraw14.) (Mansfield, Johnathan) (Entered: 08/09/2006)
08/09/2006 22 Notice of Attorney Substitution:Attorney Michael D. Vergamini is substituted as counsel of record in place of Attorney Johnathan E. Mansfield. Filed by Johnathan E. Mansfield appearing on behalf of Hydra Fuel Cell Corporation. (Mansfield, Johnathan) (Entered: 08/09/2006)
08/09/2006 23 RECORD OF ORDER by Judge Dennis J. Hubel: Defendant having filed a substitution of counsel this date, the the Motion to Withdraw as Counsel for defendant, filed by Jonathan E. Mansfield of Schwabe, Williamson & Wyatt, P.C., [#14], is deemed WITHDRAWN. The Rule 16 Conference scheduled to take place by telephone at 9:30 a.m. on August 15, 2006, remains on the court's calendar. A corporate representative for the defendant need not attend. (kb) (Entered: 08/09/2006)
08/15/2006 24 Record of time set for Rule 16 Conference held before Judge Dennis J. Hubel: ORDER - Defendant's corporate disclosure statement is due August 28, 2006. Any waiver of initial Rule 26 disclosures to be filed by August 29, 2006. The Rule 16 Conference is continued to September 19, 2006, at 11:30 a.m. by telephone. The court will place the call. Scott Eads present as counsel for plaintiff(s). Michael Vergamini present as counsel for defendant(s). Court Reporter: KB/FTR. (kb) (Entered: 08/15/2006)
08/29/2006 25 Corporate Disclosure Statement. Filed by Hydra Fuel Cell Corporation. (Vergamini, Michael) (Entered: 08/29/2006)
09/19/2006 26 RECORD OF PROCEEDINGS: Telephonic Rule 16 Conference held 9/19/06: ORDER: SETTING the following case management schedule: The deadline for filing initial disclosures is 10/3/06. The discovery deadline is 6/29/07. Dispositive motions are due 7/13/07. Responses to dispositive motions are due 7/27/07. Replies to dispositive motion responses are due 8/10/07. The deadline for filing the joint statement of claim construction issues is 4/30/07. Briefing regarding claim construction issues should be worked into the briefing on dispositive motions. ORDER: SETTING the following trial schedule: The pretrial order should be lodged by 12/10/06. The pretrial conference is scheduled for 1/7/08 at 9:30 a.m. in Courtroom 9B. 3-Week jury trial is scheduled to begin 1/14/08 at 9:00 a.m. in Courtroom 9B. ORDER: SETTING a telephonic status conference for 10/10/06 at 11:00 a.m.. Counsel should email the Courtroom Deputy (Kathy Bartholomew) with proposed changes to this schedule prior to the hearing. Scott Eads & Nguyen Nguyen present as counsel for plaintiff(s). Michael Vergamini present as counsel for defendant(s). Court Reporter: None. Tape No: EO/FTR. Dennis J. Hubel presiding. (eo) (Entered: 09/19/2006)
10/10/2006 27 Record of telephone status conference held before Judge Dennis J. Hubel: ORDER - setting a full case schedule. (see formal order) Scott Eads present as counsel for plaintiff(s). Michael Vergamini present as counsel for defendant(s). Court Reporter: KB/FTR. (kb) (Entered: 10/10/2006)
10/11/2006 28 Jury Trial Management Order: Pretrial Conference is set on 1/7/08 at 9:30 a.m. 3-week Jury Trial is set to commence on 1/14/08 at 9:00 a.m. in Courtroom #9B. Trial documents are due 12/10/07; 12/17/07, and 12/24/07. (see formal order) Signed on 10/11/06 by Judge Dennis J. Hubel. (kb) (Entered: 10/11/2006)
10/20/2006 29 Full Consent by all Parties to Jurisdiction by US Magistrate Judge. (ecp) (Entered: 10/20/2006)
Probably not shorts just dumping.
There isn't enough info for an exact answer. According to the 10K, the company issued about 26.4M shares in 2005 as follows:
-- cash 2,000,000
-- directors' services 2,624,501
-- services 8,231,228
-- warrant expense -0-
-- compensation bonus 12,000,000
-- equity swap investment 1,500,000
After holding for one year, the recipient can request the restrictive legend be removed. If approved, the stock can then be sold into the market. Below are issuances for 2005 as listed in the 10K. Just add a year to each date to get an idea when a particular block was or will be first eligible to come off restriction. A company is not required to lift the restriction after one year. So, it's possible some stock issued prior to 2005 is still restricted.
One thing not clear at least to me is how Golden Gate Investors Inc fits in here. The 10K doesn't list them as receiving any stock. That outfit is a financier for GZFX, and their agreement is extremely dilutive.
--------------------------------------------------
From 10K:
Pursuant to a consulting agreement dated May 1, 2005, the Company issued 1,211,765 shares to Timothy J. Connolly on May 10, 2005 and pursuant to a Warrant granted under the consulting agreement the Company issued an additional 1,000,000 shares on June 20, 2005. In addition to certain consulting services the Company received $77,000 as consideration for these shares.
On June 15, 2005 pursuant to an authorization of the Board of Directors the Company issued shares to certain officers and directors of the Company in lieu of unpaid salary and fees. The share and dollar amounts are as follows: Joe Grace 578,571 shares $40,500; Frank Neukomm 342,857 shares $24,000; Robert Farr 321,429 shares $22,500.
On June 20,2005, pursuant to a consulting agreement, the Company issued 300,000 shares to Princeton Consulting Group.
On July 26, 2005, pursuant to a consulting services contract, the Company issued 500,000 shares to the George Miller Company. Also on July 26, 75,000 shares were issued to Jonathan Gilchrist for legal services, and 100,000 shares were issued to Robert J. Wilson as a Directors fee.
On August 3, 2005, pursuant to an authorization of the Board shares were issued to certain officers and directors in lieu of certain salaries and fees. The share and dollar amounts are as follows: Joe Grace 216,617 shares $6,500; Frank Neukomm 166,667 shares $5,000: and Robert Farr 53,333 shares $1,600.
On August 20, 2005, the Company issued 1,500,000 shares to Brewer & Pritchard, P.C. pursuant to a 3/a/9 transaction to pay legal fees. The fee amount was $81,094.
On September 8 and 27, 2005 the Company issued 60,000 shares and 40,000 shares to B&B Marketing Communications, pursuant to a consulting services agreement. Also on September 27, the Company issued 1,000,000 shares to the Owners Group, Inc. pursuant to a Consulting Services Agreement.
On October 12, 2005, pursuant to an authorization of the Board, the Company issued shares to certain officers and directors in lieu of certain salaries and fees. The share and dollar amounts are as follow: Joe Grace 37,500 shares $7,500; frank Neukomm 30,000 shares $6,000; Robert Farr 12,000 shares $2,400.
Also on October 12, pursuant to an agreement with American Enterprise Development Corp., the Company issued 500,000 shares to Jonathan Gilchrist.
On October 26, 2005, pursuant to a consulting services agreement, the Company issued 100,000 shares to The George Miller Company, 100,000 shares to Ron Hargrove and 100,000 shares to Joe K. Smith.
On October 27, the Company issued shares as directors fees to Joe Grace 200,000: Frank Neukomm 200,000 and to Robert Farr 100,000.
On October 26 and November 1, to complete the acquisition of eGo Design Inc., the Company issued 7,200,000 shares to Edward L. Davis: 3,600,000 shares to Benjamin F. Schafer; and 1,200,000 shares to James Twedt, in exchange for all the issued and outstanding stock of eGO Design, Inc.
On November 29, 2005, the Company issued shares in lieu of salary to certain contractors of its Hydra Fuel Cell Corp. subsidiary. The recipients and amounts are as follows: Larry Burgess 80,000 shares, George Hull 80,000 shares, Richard Smith 100,000 shares, James Gates 100,000 shares, Corey Davis 50,000 shares, Mark Hunt 100,000 shares, and Brenda Burres 200,000 shares. The labor amount for these contractors was $142,000.
On November 29,2005, the Company issued 1,500,000 shares to Wall Street Inside Reporter, Inc. in an equal exchange for 46,154 shares of Strategic Growth Ventures Inc. (SGWV.PK) as part of a consulting services agreement.
On December 8 and 12, 2005, pursuant to a consulting services agreement with OTC Services, Inc., the Company issued 1,400,000 shares to OTC Services, Inc. and 1,400,000 shares to Darrel T. Uselton.
On December 22, 2005, pursuant to its consulting agreement with AEDC, the Company issued 500,000 shares to Jonathan Gilchrist.
Selling might be from folks whose stock is coming off restriction.
Thanks. Do you know how are the inventors here related to PGWC?
Please post the patent pending number. Pegasus doesn't seem to be listed in the US Patent and Trademark Office database.
Recommend you do some research on GVRP/MAMG and BCIT. Those were pretty close to this scenario. In the former, someone sold post-split shares into a pre-split market. In the latter, someone sold fake stock into the market.
I think you'll be quite surprised that when there's a bunch of fake stock in the float the system doesn't work how you assume it will.
LYFA YPI!
Umm, do you have problems reading? PGWC is listed on the Other OTC (ie pinkies and greys) daily list:
http://www.otcbb.com/asp/dailylist_detail.asp?d=10/26/2006&mkt_ctg=NON-OTCBB
Tomorrow it will open on the pinksheets. The stock is qualified to trade on the BB, but they need an MM to sponsor them first to move up.
Looks like the pinks....
13:05 PGWC Pegasus Wireless Corp. (NV) Common Stock 10/27/2006 From G (PGWC)**
http://www.otcbb.com/asp/dailylist_detail.asp?d=10/26/2006&mkt_ctg=NON-OTCBB
OT: This is kinda cool
Google Custom Search: Build Your Own Google
http://blogs.pcworld.com/techlog/archives/003005.html
Umm, they're pulling very similar stunts. Some of the same folks are still around. The last PR was a huge red flag showing they haven't changed.
BTW, please lose the caps key.
Bummer. How about becoming an RA?? Lots of companies incorporate there. lolol
Too funny. /eom/
Doing well. How are you and your family?
After Pat’s Birthday
http://www.truthdig.com/report/item/200601019_after_pats_birthday/
The ticker always changes upon doing a r/s. For OTC-listed stocks, the change is permanent. For exchange-listed ones, a "D" is appended to the ticker for 20 trading days then it's removed.
OTC-listed stocks use to have a "D" appended at one time too. Several years ago they changed the practice to what it is today.
Please post the actual FOIA list showing the huge "delivery failures" in this stock.
Forbes portrays it's own slated version. That happens when a journalist injects her own biases and doesn't check out info.
Guess you haven't checked out Jay and some of the other characters in this story yet.
Oxbridge International Limited
Date: 21-Sep-2006
The public is advised that Oxbridge International Limited, a company incorporated on December 1, 2003 under the Nevis Business Corporation Ordinance, 1984 (as amended), was dissolved on April 27, 2006 in accordance with Section 97 of the Ordinance. Section 100(1) of the Ordinance provides for a company that has been dissolved to be continued as a body corporate for a period of three years from the date of dissolution for the general purpose of winding up its affairs but not for the purpose of continuing the business for which it was organized. Persons intending to do business with Oxbridge International Limited are hereby advised that any representation to the contrary is false.
http://www.nevisfinance.com/Announcements.cfm?Idz=4&MIdz=51
J has always been great at schmoozing and stroking other people's egos. Too bad he doesn't have the same skills in running a business.
This is like watching the sequel to SWOMI. That was his break through wireless product a few years ago. He had investors all happily spun up just like this poster. Folks were dropping all sorts of potential big deals right into his lap. See if you can find anyone using his SWOMI today.
The "stock borrow" program doesn't facilitate naked shorting. It helps cover temporary settlement shortfalls in the system.
The chill definitely stops trading. I've seen it in action a few times. Reg SHO on the other hand doesn't. Its purpose is to limit opening of more short positions when FTDs meet a certain threshold level.
When investors scream naked shorting, in the vast majority of cases they're actually watching something else occur. Might be heavy dilution, a financier shorting against their CD, etc.
Don't know what country you're from, but in the USA the first amendment guarantees us freedom of speech. I agree some folks step way over the line in what they say. In most cases, they don't. I haven't seen any "journalists" and "analysts" spread falsehoods and distortions on this stock. I haven't seen any slander against insiders posted here. If you think there has, please be specific on what info you believe is false.
Why don't you ask TDAmeritrade for a current list of stocks they restrict trading on. Awhile ago, someone posted what a rep gave him, and it was quite long.
The DTCC maintains custody of securities and clears/settles trades. They don't print unlimited fake shares and aren't a regulatory agency.
When the system gets screwed up like it did for that one, the DTCC can put a chill on the stock to help stop trading. That's about it. IMO the real problem is the SEC and NASD are lax in enforcing some of the regs and aren't taking charge immediately like they should.
There was a lot of confusion around Global's r/s. Some posters said shares in their accounts were not reduced. Their brokers allowed them to sell pre-split stock into a post-split market. I think this caused a signficant percentage of the FTDs.
Well, J likes to embellish on things. Until the public is shown real proof, it should be taken w/ a grain of salt.
Guys like Jayson are merely pointing out the other side. If holding a short position, they obviously have a financial interest in seeing the price drop. Frankly, they're not much different than insiders who present only a rosy picture.
Skilled investors want to know both sides of a story. Those paying attention are usually given ample warning well before a price collapses. It always does on over-hyped/overvalued stocks. This one was way overvalued and should never have been listed on an exchange
Before Worldcom and Enron collapsed, I watched real CPAs posting why those companies were going to eventually implode. They pointed out irregularities in financial reports and dummied down the explanation for non-accounting types to understand. Like you, many viewed them as bashing back then.
Ooooh well, that makes sense. LOLOL /eom/
Passing you off to an assistant doesn't necessarily mean the attorney is not interested. It's probably more that he doesn't have the time, and the other person will be doing at least the initial review of your info for him.
Good point! LOLOL /eom/
I don't know if they're still frozen. According to Smith, CMKX had close to 100 accounts at a local bank. He didn't specifically say they were used for money laundering. If it's not for that, why would they need so many?
The SEC has subpoenaed bank records related to CMKM's local transactions, an institutional source confirms. The company maintained nearly 100 accounts at a local branch of Silver State Bank alone. A bank employee who handled CMKM's accounts is no longer employed after suspicious activity involving a continuing circle of cashier's checks was uncovered.
By one informed estimate, CMKM is suspected of moving up to $64 million through its Silver State accounts.
http://www.reviewjournal.com/lvrj_home/2005/Feb-08-Tue-2005/news/25821561.html
Securities and Exchange officials, working in cooperation with a local bank, have subpoenaed records of nearly 100 CMKM accounts.
http://www.reviewjournal.com/lvrj_home/2005/Feb-11-Fri-2005/news/25845141.html
I recently reported that the SEC was investigating CMKM and had seized dozens of accounts at a local bank, where the company was suspected of moving an estimated $64 million in recent months.
http://www.reviewjournal.com/lvrj_home/2005/Mar-04-Fri-2005/news/25992037.html
Perhaps you missed it. Last year, a reporter (John Smith) wrote an article for the LV Review Journal in which he said dozens of CMKX accounts had been frozen at the local bank there because millions of dollars had been floating through them.
Edwards entered into a $1M private placement deal w/ Crown. He didn't own the entire company. Where are you coming up w/ Crown owned NevWest?
JE => John Edwards
IM => Ian MacIntyre
IMO of course.
It's okay you have problems distinguishing POS from good potential. Guys like you help others make money in the market. Maybe some day you'll outgrow the greenhorn stage.
Gateway (GWDB) plans to do another r/s (1:1000) and change its name to Marshall Holdings International, Inc.
http://sec.gov/Archives/edgar/data/1062760/000114036106013520/formpre14c.txt
Ummm, didn't you bother to read what you posted? These guys have been heavily diluting and r/s'ing this stock for several years now. They will continue as long as there are naive investors willing to buy.
BTW, there was also a 1:500 r/s in Mar 2005.