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.
elkonig, where did you get this information about the June 11 date?
Looking more closely at the Schwab web page, it does seem that the $55 is not a mistake. That is the cost for trading "Foreign over the counter" shares, which is defined as follows: "Foreign ordinary or foreign over-the-counter securities (FOTCs) are shares of foreign companies that are traded on the U.S. over-the-counter market by a U.S. market maker." You can trade directly on foreign exchanges by getting a Schwab Global Account. At first this looks like a solution, with Australian trades costing A$32 and Canadian trades costing C$14. But then there is a 1% currency conversion fee on top of that.
I talked to a guy at Schwab yesterday about why they charge a $54.95 commission to trade this stock. He said because it is not an ADR, so it is a foreign exchange trade. I mentioned that Etrade charges its usual $6.95 to trade it, but that didn't mean anything to him. Given that trades occur during US market hours, clearly this is not occurring on the Australian market. I know it is also listed in Canada now, but it was this way before that. The guy I talked to sounded pretty junior and he was just repeating what his superior told him. I think I may push back. On the Schwab quote it shows the market "OTCQX - International," which is something that is supposed to facilitate trading of foreign companies in the US. Here is more info on that: https://www.otciq.com/services/otcqx-international
It is trading on the grey market now - there are no market makers, so no bid and ask. Another guy and I did a lot of experimenting and comparing notes on another board to see how this all works: https://investorshub.advfn.com/Haber-Science-Inc(fka-HABE)-989/
It looks like your brokerage posts your buy or sell offer for all to see, and if there is a matchable pair one of them might execute it. You aren't even guaranteed to be matched with the best price available. You might be able to scoop up some shares at a microscopic price (not that I'm recommending this). The problem is that you might get 5 cents worth of stock and be stuck with a full commission.
Today's trades, so far:
14:27:31 0.02495 100 OTO
14:26:45 0.0155 13000 OTO
14:08:02 0.02666 1000 OTO
14:05:53 0.0232 1000 OTO
14:03:56 0.0179 10000 OTO
13:40:11 0.0179 2000 OTO
10:50:17 0.0165 1000 OTO
09:30:06 0.0155 2000 OTO
That's a two dollar and fifty cent trade on top.
We have our first gray market trade:
09:30:09 0.0001 500 OTO
That amounts to 5 cents, BTW. I actually entered a buy order at 0.0003 yesterday, just to see what would happen. Note that my order was for a higher amount than the one that executed. Actually though, at this point my curiosity is already satisfied, so I will cancel my order.
Dang, I should have held back my 78000 shares for the big money.
ETrade now shows EDIG trading on the grey market.
Anyone else follow this stock?
Good news, I guess. This statement strikes me as weird: "Furthermore, the company is also set to announce a potential significant Cobalt discovery that could be a company maker in its own right ... ." If they are set to
announce it then they should just do it. Maybe I'm nitpicking.
There was a 4142 share trade at 0.0013 on 5/18 . Things are heating up!
Boy, you are confused. Maybe you are confusing long term and short term with long and short?
I've had a hard time figuring out what information you can get online from court records. I did find this on the San Diego County Court site, date 12/12/17:
" Judgment was entered as follows: Judgment entered for Nunally, Patrick and against e.Digital Corporation for $ 0.00, punitive damages: $ 0.00, attorney fees: $ 0.00, interest: $ 0.00, prejudgment costs: $ 0.00, other costs: $ 0.00, amount payable to court: $ .00, for a grand total of $ 0.00."
At 0.85 it is up 26% since Monday's open. Here is a general question: is the value of this company more from the extraction of valuable materials (lithium mainly), or is it about cleaning the water, with the recovered materials being of secondary importance.
Exactly. The fact that no default would occur was already factored into the share price - no dip leading up to the news, and no bounce when it arrived. This I find somewhat encouraging.
"it is interesting the volume in the days prior to the announcement was pushing 1 million per day, yet price stayed at the .016 - .018 range."
"what would seem to make the most sense is for Mexus pick one project, and make a targeted effort on that project before starting another. Ideally they should start with the project closest to providing positive cash flow."
That is what would make sense. It is very discouraging to think that Ures is the project closest to providing positive cash flow.
Can someone explain why they are trying to get the Ures mine up and running when they have so little cash? Are they still working Santa Elena, or is that shut down due to an environmental problem?
It was conspicuous that the share price stayed firm leading up to the recent announcement, which led me to believe that somehow the debt would be paid. I guess the flip side of that is the lack of bounce on the good news.
If the conversion price is based on a 25 day rolling window, and not fixed at the time the default occurs, then the situation is rather tricky. At some point the 0.0051 trade will roll out of the window which would cause the conversion price to jump upwards (unless the price has already dropped below that level). Am I understanding this right?
Panzer, what else is in your uranium portfolio?
Understood. The reference to "non-dilutive" comes from the PR issued 4/16 that talks about what lies ahead. I'm not saying they will succeed, I'm just saying this is what they announced.
As a side note, should it come down to issuing shares (i.e., diluting), I would imagine that they could get more than 0.00255 in a private placement.
Thanks 1manband. Here is the JMJ website, kind of interesting to look at:
https://www.jmjfn.com
"WE FUEL GROWTH.
JMJ gives emerging small cap companies the unsecured capital they need to thrive."
Two things are notable about the Mexus price action since the 4/16 PR. 1) the drop to 0.0051, which sets the conversion price if the loan defaults, was conspicuously quick and short-lived. But also 2) the share price has held up remarkably well since then. Item 1 is easy to interpret. Item 2 is a little harder for me to fathom.
So this scenario described by Wxdog would be non-dilutive, assuming that Mexus doesn't default in the end. Thinking back to when this loan was made, the discussion on this board led me to believe that lenders would be Mexus loyalists. Do we know what sorts of people ended up doing the lending? If they were friends, then they might be willing to extend the loan. Then it would just be a matter of getting some new money to do what they want to do at Ures. On the other hand, if they are toxic finance types, then they would presumably need all new money.
But a private placement would not be non-dilutive, so hopefully that was not the original plan at least.
From the April 16 PR (see post this is in reply to):
"The company will announce a non-dilutive capital raise plan in the very near future." Did this ever get mentioned again?
I'm no expert, but it looks to me like just about anything can be traded on the grey/gray market. No one has to make a market, or otherwise stick their neck out. Anyway, we will see in about eight days.
rootus99, what about the gray market? I've seen some pretty valueless stocks continue to trade there. Do you know anything about how that works?
No mistake in the calculations, though it certainly is a high percentage compared to a normal transaction. I was only thinking about the possibility of more partial fills of 1000 shares or less.
Up big this morning on no news, at least that I can find.
Less than a month ago I posted this:
---
Meanwhile, another Woody Norris project is actually doing well lately. Unfortunately I failed to hop on on the ground floor.
https://investorshub.advfn.com/Turtle-Beach-Corp-HEAR-18905/
---
Having missed "the ground floor," I didn't buy in. Since then it has gone up something like 300%. There is a lesson to be learned here, but I doubt I will ever learn it.
Now that we understand that Etrade charges a commission per fill (more or less), are you sure you want to keep that order open?
Presumably it will make its way to the pink sheets, right?
I am not at all worried that the officers of the company will screw the shareholders, but after so much time I don't feel much hope that anything will happen.
BTW I am canceling my open orders at 0.001 and 0.0005 and going out of the ASPT market making business. I will keep open a sell order at 0.005, but don't have any illusions there. I'm guessing that on the sell side you don't have to worry about minuscule partial fills. Mainly I was doing this because I became curious about the market when I saw trades going through at wildly different prices. When I started this I put in an order for 100,000 shares at 0.008, which would have cost me over $800. What was I thinking?? Interestingly, no one bit.
Ugh, I had been under the impression that there was only one commission charge as well. I went back and checked and found just as you did that there were in fact multiple $6.95 commissions per order. I don't think it's exactly per fill, but rather per day that any fill occurs. So if there were two fills in one day, then that only costs one commission.
Those 78,000 were my sell order. I hope you really wanted them. I still have a lot of shares with a low basis, but I decided to sell my old high basis shares to take the capital loss. I put in the order at 9:30 (Pacific Time) and it didn't execute until 12:44, so that tells you something about how the gray market works. I wish I had put the limit at 0.0011 instead of 0.0012 just to see what price it would have gone at.
Here is the one thing that intrigues me from the latest release:
• What makes the next 60 days potentially "explosive" is that if you are short on June 29, you will have to pay the appropriate dividend back, which is virtually impossible because MGX wholly owns this private company. So anyone that is short on that day will be somewhat in "trouble"... So over the 60 days, we may see some significant short covering and "turn of the tides" in the market.
Still here waiting. I don't recall specifically what made me buy into this (presumably some lithium article I read), but not long after I bought in they started putting out PR after questionable PR. I started to think it was a scam, but then the share price went up so I fell asleep. Now it is well below where I bought in. Maybe you can remind me, what exactly are we hoping for here? Are we going to produce lithium, or license out technology to produce lithium, or purify water, or make sodium batteries ... ?
What exactly is the relationship between Jonway and Zap?
Your response is irrelevant to the claim they made.