is still alive and kicking.....Happy 2018!!
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well said, with nothing but facts disputing yet another outrageous conspiracy theory on what is just in the end (another) crappy Co ....should be a sticky....
he used a "rat hole"!!!!!!!!!! (or many, many holes.......)
up and away, WDC blowout!!!!
I had never even heard of him at the time.....
a story from one of the longs eventually came out, saying most of Elgindy's NSOL claims were true.....but the issue was how he got the info, and then supposedly tried to extort the Co to withhold it (or something like that, as best I recall, it was years ago)...
if anyone here remembers Elgindy, the rumor is he committed suicide recently:
http://www.sandiegoreader.com/news/2015/jul/25/ticker-anthony-elgindy-dead/#
Elgindy was involved with NSOL (which later went through some ticker changes to become USFF, and is now revoked).....
funny thing was when I first came onto the (then) NSOL board years after Elgindy and was highly critical of the Co's pseudo-science junk-tech, some people claimed I was Elgindy posting from jail!!!!
(BTW, "Doctor" Paul Brown supposedly once made an anti-gravity device, or some such nonsense, although that was not the "tech" the Co was peddling, AFAIK)
ELGINDY and NSOL
http://www.elitetrader.com/et/index.php?threads/daytrader-arrested.5762/page-3
How The Govt Says Elgindy's Scheme Worked
By Michael Rapoport
NEW YORK (Dow Jones)--It was an audacious scheme, in prosecutors' telling: Use moles within the Federal Bureau of Investigation to get secret government information that could be damaging to a company, and then use that information to profit by short-selling the company's stock or by extorting the company outright.
That's what the government alleges Anthony Elgindy did, in an indictment released Wednesday. And while prosecutors are holding back on some of the details, the indictment does lay out a series of facts that can be pieced together into one detailed example of how the alleged scheme worked.
The information involves Nuclear Solutions Inc. (NSOL), a radioactive-waste treatment company which the government says Elgindy shorted last December - borrowing the company's shares and selling them in the hopes that the stock price would go down so that Elgindy could repurchase the shares at a lower price to return them to their owner, thereby making him a profit.
From the government's indictment, here's a chronology of what prosecutors say Elgindy did on Nuclear Solutions, matched with what was going on with the stock at the time:
Dec. 19: Jeffrey A. Royer, an FBI agent working with Elgindy and who was indicted along with him, searches the FBI's National Crime Information Center database and finds "criminal history information" about Paul Maurice Brown, the founder of Nuclear Solutions. (The government doesn't detail the nature of the information Royer found regarding Brown, who died in April. A Nuclear Solutions spokesman couldn't be reached for comment; Elgindy's attorneys also have not been available.)
Same day, about two hours later: Elgindy sends an e-mail to subscribers who follow his stock picks. The e-mail states: "NSOL - CEO, Dr. Paul Maurice Brown, is a convicted felon..."
That day, Nuclear Solutions stock tumbles from $3.20 a share to $2.45, on heavier-than-usual volume - a drop of about 23%.
Dec. 20: Elgindy and others begin posting information about Brown's alleged criminal record on Internet bulletin board and in chat rooms. In the indictment, the government alleges that Elgindy and his associates "sought to accomplish their manipulation by coordinating the release of negative information with short-selling in a manner designed to exaggerate the negative market sentiment for the stock."
Dec. 22 and 26: More negative e-mails from Elgindy about Nuclear Solutions. In one, he says that "Convicted Felon Brown ... has history of lying & fraud..." In aother, he says, "NSOL - info on (a Nuclear Solutions executive) the scumbag (attorney) ... has been disbarred..."
Dec. 24 on: Elgindy or his associates short Nuclear Solutions stock on seven separate occasions, lasting through most of January.
Dec. 27: Elgindy sends another e-mail to subscribers asking for details about their positions if they're short. Another e-mail, on Jan. 3, says "NSOL - short 20% @ 2.05 (add)." The "2.05" corresponds approximately to Nuclear Solutions' stock price at the time - a price which dwindles lower throughout most of January.
Jan. 30: In a chat-room discussion with his subscribers, Elgindy says that "We are pulling out of NSOL" and "NSOL <-- coverage (terminated) for good."
Jan. 31 and Feb. 1: Trading volume once again surges on Nuclear Solutions - consistent with the idea that any investors who had shorted the stock on the basis of Elgindy's e-mails were now repurchasing the stock to cover their positions. The price is volatile, plunging as low as $1 and going as high as $1.80.
The stock closes on Feb. 1 at $1.55. That's less than half the $3.20 a share it traded at before Elgindy's initial e-mail - a difference that represents profit to anyone who shorted the stock.
#21 May 22, 2002
it will be copious ***asterisk*** time soon, against the wall and on their knees in the PTOI DARK POOL!!!!
Niagara Falling
Chess games that last years:
https://en.wikipedia.org/wiki/Correspondence_chess
how about a filing instead of FB posts?????.....arguments over who is/was the biggest liar on FB don't carry much weight IMO......
maybe, but the street's negative sentiment has been relentless.....if I recall it is has been a great value play for sometime now!!!!
anyway, good luck to those in this, may the bleeding stop soon....
8.25, CHK bloody bottomless pit!!!!!!
edit: even lower since I wrote that a minute ago......
I think even the bedbugs have moved out!!!!
(see hotel reviews for the bedbug references)
their "business plan" has ALWAYS been about playing for time and stringing shareholders along via carrot after carrot.....but eventually that runs out along with the money.....
as is so often said.....tick tock.....
PS: so, how 'bout that shareholder's meeting? If one does happen, what will the excuses be this time??? That the turd is being polished to an even higher sheen, lo and behold the dazzle??
SNAF(U) would have been a good ticker when it was changed, but I think it was already taken.....
doubt if it would be that "hostile" if someone threw $10M more into this bottomless pit......it would probably be welcomed with open arms by the dis-management!!!!!!!!!!!!!!
(not that it's going to happen anyway, but since it was mentioned.....)
See businesses, schools, and crimes near this home
'nuff said......
the reason I believe BK will happen is that without the ability to sell shares, the Co operations (meager as they are) will have a hard time being funded....
to clarify, not JUST to wipe out the old shareholders, since that is mostly a moot point by now......
I believe bankruptcy is the next step......nothing to lose really, wiping out the old shareholders......
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 75430 / July 13, 2015
ADMINISTRATIVE PROCEEDING
File No. 3-16596
In the Matter of
Oraco Resources, Inc.,
SaviCorp
(a/k/a SaVi Media Group, Inc.),
Smoky Market Foods, Inc.,
Soltera Mining Corp., and
Wolverine Holding Corp.
(a/k/a Mobility Plus Medical Equipment, Inc.),
Respondents.
ORDER MAKING FINDINGS
AND REVOKING
REGISTRATION OF
SECURITIES PURSUANT TO
SECTION 12(j) OF THE
SECURITIES EXCHANGE ACT
OF 1934 AS TO SAVICORP
(A/K/A SAVI MEDIA GROUP,
INC.)
I.
The Securities and Exchange Commission (“Commission”) deems it necessary
and appropriate for the protection of investors to accept the Offer of Settlement submitted
by SaviCorp (a/k/a SaVi Media Group, Inc.) (“SVMI” or “Respondent”) pursuant to Rule
240(a) of the Rules of Practice of the Commission, 17 C.F.R. § 201.240(a), for the
purpose of settlement of these proceedings initiated against Respondent on June 17, 2015,
pursuant to Section 12(j) of the Securities Exchange Act of 1934 (“Exchange Act”).
II.
Solely for the purpose of these proceedings and any other proceedings brought by
or on behalf of the Commission, or to which the Commission is a party, and without
admitting or denying the findings herein, except as to the Commission’s jurisdiction over
it and the subject matter of these proceedings, which are admitted, Respondent consents
to the entry of this Order Making Findings and Revoking Registration of Securities
Pursuant to Section 12(j) of the Securities Exchange Act of 1934 as to SaviCorp (a/k/a
SaVi Media Group, Inc.) (“Order”), as set forth below.
2
III.
On the basis of this Order and Respondent’s Offer, the Commission finds that1
:
1. SVMI (CIK No. 1096637) is a Nevada corporation located in
Santa Ana, California with a class of securities registered with the Commission
under Exchange Act Section 12(g). As of June 10, 2015, the common stock of
SVMI (symbol SVMI) was quoted on OTC Link (formerly Pink Sheets) operated
by OTC Markets Inc., had ten market makers, and was eligible for the
“piggyback” exception of Exchange Act Rule 15c2-11(f)(3).
2. SVMI failed to comply with Exchange Act Section 13(a) and
Rules 13a-1 and 13a-13 thereunder because it failed to file timely periodic reports
for the periods from the period ended December 31, 2013 through the period
ended March 31, 2015, inclusive.
IV.
In view of the foregoing, the Commission deems it necessary and appropriate for
the protection of investors to impose the sanction specified in Respondent’s Offer.
Accordingly, it is hereby ORDERED that:
Pursuant to Section 12(j) of the Exchange Act, the registration of each class of
Respondent’s securities registered pursuant to Exchange Act Section 12 be, and hereby
is, revoked.
For the Commission, by its Secretary, pursuant to delegated authority.
Brent J. Fields
Secretary
1The findings herein are made pursuant to Respondent’s Offer of Settlement and are not binding
on any other person or entity in this or any other proceeding.
I don't know, just an example of what I have seen before.....maybe this will be different if a "settlement".....
last time I saw a suspended => grey sheet "settle" with the SEC, it was for a Company to accept voluntary revocation (which only served to cover insiders' asses from further actions, IMO).....
something to consider......
The Company had become delinquent in its periodic SEC reporting requirements since the period
ended December 31, 2012. In late December 2013, the SEC notified USFF that they were initiating
an administrative proceeding and hearing to suspend or de-register the Company's common stock.
After discussions with its board members and outside counsel, in order to resolve the proceedings
and actions that the SEC had instituted against USFF, the Company determined that voluntarily
submitting an Offer of Settlement to the SEC would be the most expedient path to its ultimate goal
to once again become full reporting and to have its stock quoted on the Over The Counter Markets,
as a stepping stone towards its long term goal of listing on NASDAQ.
http://usfuelcorporation.com/wp-content/uploads/2014/02/USFF_PR_12j-Order-00014099-6.pdf
unfortunately, to get off the greys more than the SEC needs to be "satisfied".....a MM will have to be as well if they decide to sponsor....
78s filled today, now to put it on sale and wait.......wash, repeat......
how was that even possible when there was such sparse filings between 2009 and 2013????
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001096637&type=&dateb=&owner=exclude&start=40&count=40
To me the suspension seemed to come out of left field.
well, they apparently had years of SEC sniffing, so more like it came from the pitcher's mound IMO:
The Company received a letter from the Securities and Exchange Commission, Los Angeles Regional Office, dated May 9, 2011. The letter informed us that the SEC had entered into a “formal order of investigation” into “Savi Media Group, Inc.” The letter included a “Subpoena DucesTecum,” meaning the Company was given a prescribed period of time to produce all requested documents and information contained in the subpoena. An index of the source of all such produced information and an authentication declaration were also to be supplied. The stated purpose of the investigation is a fact-finding inquiry to assist the SEC staff in determining if the Company has violated federal securities laws. The SEC states there is no implication of negativity or guilt at this stage of the investigation.
http://ih.advfn.com/p.php?pid=nmona&article=67501132
I agree, it was a fair statement.....no teasing or promises made...
that seemed a more balanced statement than most when this happens....thanks for pointing it out....
I notice they make no bones about the future of share valuation, so they are making straight and accurate comments...
has there been any response from the Co concerning the suspension???? maybe I missed it??
Sometimes Cos will go through the motions (or maybe they are so poorly run THEY don't know the rules either!!) of updating filings when this happens, but usually they would have said something about it, with a tease that the updates will eventually solve everything......often there are "clues" dropped that once done they will just fill out some paperwork and get a new "sponsor", no problemo!!!!....
as people who did some DD can now see, this is hardly ever the case in such situations....
BTW, the filings being updated might be legal ass-covering, something like "we tried to comply!", especially concerning the new shares and that agreement....
It will be this tier:
(there will be no more bids or asks displayed)
OTC, Other OTC or Grey Market
"OTC", "Other OTC" or "Grey Market" is a security that is not currently traded on the OTCQX, OTCQB or OTC Pink marketplaces. Broker-dealers are not willing or able to publicly quote OTC securities because of a lack of investor interest, company information availability or regulatory compliance.
http://www.otcmarkets.com/marketplaces/otc-pink
the suspension will be AUTOMATICALLY lifted after June 30, then it will trade on the grey sheets.....and that's that, call your broker and ask if you doubt...
this is the consequences of being suspended...
looks like insiders selling a bit, locking in some gains.....
Co is solid as a rock still, I have bought 2 WDC drives myself in the past few months (doing my part, sorry STX!!!)
PS: I have also bought a few SSDs, but I find for every SSD bought, I typically get yet another HDD for backups and such.....
http://www.sec.gov/investor/alerts/tradingsuspensions.pdf
Will trading automatically resume after
ten days?
It depends on the market where the stock trades.
Different rules apply in different markets.
For stocks that quote in the OTC market (which
includes stocks quoted on the Bulletin Board and
OTC Link (f/k/a Pink Sheets)), quoting does not
automatically resume when a ten-day suspension
ends. Before OTC stock quoting can resume after a
suspension period, SEC regulations require a brokerdealer
to review specific information about the
company in accordance with Exchange Act Rule
15c2-11 and FINRA Rule 6432. If a broker-dealer
does not have confidence that a company’s financial
statements are reasonably current and accurate in all
material respects, especially in light of the questions
that may have been raised by the SEC suspension
action, then a broker-dealer may not publish a quote
for the company’s stock. The OTC markets function
through dealer systems where only broker-dealers may
quote and facilitate trading in OTC stocks.
In contrast to stocks that trade in the OTC market,
stocks that trade on an exchange resume trading as
soon as an SEC suspension ends.
overseas deals are possible, very popular with penny stocks.....also, those drive-by boots get kind of difficult....
no. once this happens, it is the long road back....
PS: you can ask questions here:
http://investorshub.advfn.com/Grey-Market-or-Grey-Sheet-Q-&-A-25608/
or read this:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80033223
Obviously to get and stay current, all filings must be submitted. The question that I have, once the 10-Qs for 2014 have been filed, will the company be considered current, even though the filings were filed late?
It would have been much simpler if they had just stayed current.....now, they will go on the grey sheets (no b/a) after June 30, even if they do get all filings in by then......
to get off the greys, a MM must be willing to "sponsor" them once all their filings are in order.....
I doubt your prediction of subpenny will take place that soon......I have seen many penny stocks that just dry up and kind of stop trading mostly, and they never get below a penny despite that.....
I believe that will be the case here, liquidity will go to semi-zero long before the stock does.....I expect low volume days with fewer and fewer volume spikes on the *chart*.....the only thing worse than subpenny is any other price that locks a person in due to lack of available liquidity......
sub $5 shares......the *gift* that keeps on giving!!
hate to say I told you so........but I did!!!
(the general "you", being nobody in particular......)