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Here comes another share dump, 7.7 plus million shares to be sold (dumped):
http://ir.convertedorganics.com/secfiling.cfm?filingid=728889-11-902
http://ir.convertedorganics.com/secfiling.cfm?filingid=728889-11-900
http://secwatch.com/coin/144/proposed-sale-of-securitie/2011/8/1/8950136/filing
Anyone still want to claim this will rally from the grave?
Seems there was a 6 month free ride deal for the level II quotes on OTCBB and pink sheets. Now the extortion price is $6000 for any company that wants level II quotes on their stock to be available on the OTC boards. OUCH!
All the penny stocks I own or follow, no longer have the level II listed on OTCBB, in fact I could not find a single one listed today with level II. So I am back in the dark, as my broker's level II on pennies is a joke (Fidelity), as the major MMs do not show up in their data base on level II, like NITE.
Volume comes and goes here on TTEG. Sometimes it goes in the wrong direction for no obvious reason, like going way down when the market rallies, and then rallies when the market crashes (which we usually attribute to a market maker short sale shakedown). 50% spreads between bid and ask in penny land are common at times. The spreads tighten when big volume shows up.
I spoke with TTEG management today for nearly 2 hours. I will post what I finally figured out from the chats later tonight. Long story short, I am staying long with this bunch!!!!
TNV, Welcome on board. I too have been in for way too long to sell now, and a few more weeks or months at this point is small compared to 2 years.
I was told back in April or so that all the special equipment and SS pipe needed to complete the well and pipeline connection had been ordered way back in February, so that it would not delay the completion (and that may be what part of the accounts payable bills are about). I suspect the problems in Washington DC have investors/bankers/etc sitting on their hands and cash right now, and may be part of the current problem. Also MNLU management may be playing one financier off of another trying to get the best deal and rates for us. I think MNLU is trying to not to sell the ranch on the funding deal, and I am content to wait longer if it gets us cheap financing.
I also suspect the SEC delays on the merger are also slowing paper work on the loans, or closing of the best deal.
So is there anyplace left where we can get accurate penny stock bid and ask data, level II data, real time, or even delayed time data? My broker's (Fidelity) level II data for penny stocks is a joke! And Ihub is too expensive.
I was averaged in at $1.23 (and in way too debt already), and I added already to average down the day it dropped to nearly 40 cents. I am now at $1.02/share, and waiting on dry powder to add more. I still think this one is way, WAY undervalued. All we need is someone like NVS to announce a JV funding deal with CYTR for one of these block buster products they have and the stock will rocket. But no telling how long, or when that might happen. They have had profitable quarters off and on the last 3 years, and had JV partners before. And recently sold a shelved product to ANX. They still have lots of cash, a great blockbuster pipeline that has been blowing the lid off the news with test results that are almost unheard of (but few seem to be listening?), namely curing several terminal cancer patients that had been written off as incurable the last 12 months. And now we know what the price will be for the next funding round needed to cover future phase III trials, and the recent market panic sell off on the day the dilution news hit, did a pretty good job of showing us the next long term low I think. Only wild card left here I think is the world economy and the markets in general. If we get a nasty market wide, world wide sell off this month, then yes CYTR might go lower, but I watched well funded biotechs outperform others in 2008-09! In fact CYTR raised cash in 07-08 just before the prior crash, and bought RXII at the bottom, and made a pile of cash selling it off in 2010 to fund the last 18 months.
Earnings conference is tomorrow at 8 PM EDT.
This was news from a few weeks ago (below)!
Note that they finally told us then that the hydrogen generator converts methanol into hydrogen. I suspect it is a catalytic process. Also note that the TTEG engine can run very efficiently on hydrogen (or so we were told in old, prior PRS). What I would like to know is how and why it produced these savings. (A little thermodynamic data energy balance data would be real nice Mr TTEG!!!)
I think there have been some website updates here?
http://www.climateesco.com/Projects/Projects.aspx
http://www.climateesco.com/Products/Products.aspx
http://www.mantraventuregroup.com/
We now have LED products and spec sheets online!!!! I am sure that is new!!!
Update on prior post about level II missing, I can't get level II on any stocks in OTCBB or pink sheets this morning, so it is not just MVTG.
We have lost level two bid/ask, and MM data on the OTCBB / pink sheets for MVTG.
Anyone know why?
FWIW, I see some other stocks with the same problem this morning. One of them I know should be showing level II, it is TTEG, they announced about 2 weeks ago that that upgraded back to OTCBB (took care of some formalities that had knocked them down to pink sheets). and AEXP and MNLU are having the same problem this morning (And I know that is not right), so maybe it is an OTC system problem today?
Seems that Southwestern Energy (another mostly NG company) just had its best quarter even with the current low natural gas prices. So much for that recent BS article about fracking, NG...... This should help quell any concerns about the real value of MNLU and AEXP shares.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7735557
The good the bad and the ugly?
http://china.fixyou.co.uk/2011/07/china-stock-obituary-2011.html
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65699925
According to an SEC filing its the same guy:
http://secwatch.com/jgbo/def%2014a/definitive-proxy-statement/2011/5/31/8839265/print
"SCHEDULE 14A INFORMATION"
"JIANGBO PHARMACEUTICALS, INC"
"DR. GEORGE (GUOQING) ZHOU – INDEPENDENT DIRECTOR. Dr. George (Guoqing) Zhou has served as the chief executive officer and a member of the board of directors of Beijing Tengzhong Investment Ltd. (“Tengzhong”), and Sichuan Tengzhong Heavy Machinery Industrial Co., Ltd. since August 2009. He has also been an independent director of China Media Express (Nasdaq: CCME) since November 2009. Prior to Tengzhong, Dr. Zhou was the Chief Operation Officer of Benda Pharmaceutical (BPMA.OB) (“Benda”) from September 2008 to May 2009 . Prior to Benda, from June 2007 to July 2008, Dr. Zhou was a Partner and Managing Director of Eos Funds, where he directed investments in Chinese companies which intended to list on U.S. and Canadian exchanges. Prior to that, from November 2003 to May 2006, Dr. Zhou served as Co-Founder, President & CEO, and member of the Board of Directors of Abepharma Ltd. and Red Mountain Pharmaceuticals (China) Ltd. Dr. Zhou was a post-doctoral fellow in molecular biology at the University of Victoria, Canada and received a Ph. D. in molecular biology from Umea University, Sweden in 1996. He received his Masters degree in Genetics at Southwest University, China in 1986. He received a Bachelor degree from Chongqing Normal University in Biology in 1983. He was an associate professor from August 1996 to 1998 at Chongqing University, China."
And from the next post there:
JGBO is about to get delisted and has pulled the same type of noncooperative stunts. Interesting that JGBO and CCME shared a BOD member George Zhou:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65494620&txt2find=JGBO
POSTED BY RAMES ON I-HUB CHINA GROWTH STOCKS:
"JGBO - some enjoyable reading for the weekend
I was doing some research and stumbled upon Michael Marks's 22-page account of the internal investigation that was opened by JGBO's audit committee. Even if you are just remotely interested in the happenings with U.S.-listed China stocks you should take the time and read the whole thing:
http://www.sec.gov/Archives/edgar/data/1091164/000114420411034429/v225152_ex99-4.htm
Read between the lines and you can learn a lot about "the Chinese way" and many of the issues raised in there are certainly not just limited to Jiangbo but a general problem when dealing with those overly powerful head honchos at Chinese companies.
Here is the snippet about JGBO I wrote today in a post about Chinese stock fatalities in the first half of the year:
The Securities and Exchange Commission subpoenaed the company on March 26 and Jiangbo's audit committee started an internal investigation of the issues raised by the SEC. Elsa Sung, Jiangbo's CFO, resigned on March 31. On June 6, the independent members of the Audit Committee jointly resigned, stating that JGBO's "chairman and members of his management team have exhibited repeatedly their unwillingness to cooperate in even the most basic requests," and - among other things - the investigation "raised serious concerns regarding the veracity or correctness of banking information provided by the company."
Michael Marks, former independent director and Chairman of JGBO's Audit Committee filed a very long (22 pages) and detailed account of the internal investigation with the SEC. If you are interested in the troubles of U.S.-listed Chinese companies, you should take the time to read the full letter. You will find real gems in there, such as the manager of Jiangbo's materials department refused to leave the employee wash room in order to avoid answering Ernst & Young's questions. Or that the law firm's fee was paid from a personal account of an individual who turned out to be Jiangbo's cashier - via internet banking - when Jiangbo previously told Ernst & Young that the company did not use and did not have access to internet banking.
The stock remains halted on Nasdaq and will likely get delisted soon. Anyone out there who still believes this company has almost $150 million cash on the bank?
http://china.fixyou.co.uk/2011/07/china-stock-obituary-2011.html
I can't help but wonder if the recent short attacks on China reverse mergers has not stalled one of TTEG's previously announced merger deals with that auto parts manufacturer in China.
It may be that sensitive negotiations are underway that they need to keep quite for legal reasons. But I sent an email to the CEO the day of the last PR, and suggested some questions I would like answers to. I also requested a Gantt chart of sorts in a future PR with with some time line goals, for each project we have under way so we would have some idea when to expect some updates, and just how long some of the deals are expected to take to get to each target point. I almost suspect someone at TTEG read an earlier post of mine, suggesting they give us more details on the H2 generator deal and why they are bothering to mess with it, as it was never clear to me why they were getting sidetracked with it. They answered that question in the last PR.
It is just about time for me to send that email again, and ask for confirmation that he received the email?
I wonder if there are enough of us to try and get the CEO to do a conference call update, to answer questions. The PRs seem to always leave many unanswered questions.
I am still long, and have been adding at the dips for a long time, well over a year buying the dips now. At least his last PR finally explained the H2 generator interest....
AEXP natural gas in our future?
http://www.centerpointenergy.com/promo/TouchPoint/HO#energy
MNLU natural gas in our future?
http://www.centerpointenergy.com/promo/TouchPoint/HO#energy
In case anyone here missed it, here is a good recent write up worth the read on why natural gas is a good long term investment to buy and hold now, investments like AEXP.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65598263
I wonder if the banks have alterior motives, like get the stock price up, and then sell shares to reduce debt?
But interesting news. Link to the news?
This is in the after hours headlines tonight, so we should gap way up at the open tomorrow? My guess is $10/share gets blown out of the water on this news!
Note: Common book value is still $17.34/share!
Looks like it was just an update, verrrry long drawn out, detailed update of the share registration for the MNLU shares that AEXP shareholders will get post merger, but it is still a draft of a draft, not yet an official final dated version.
At first, I thought was piggy was right (dilution, selling new shares), that MNLU was about to sell new shares at .55 (apx) a share, but it turned out to be just another legal update dotting I's and crossing T's on the merger shares that AEXP shareholders will get for their AEXP shares post merger.
So now I can tell pigroast that I thought I was wrong, but it turned out I was wrong (LMAO!), so I was right afterall (no dilution).
The Japanese could be one of the banking sources, so don't assume it is buyout. They may want to bank the deal and have rights to buy the NG for LNG export to Japan. I doubt a Japanese company is planning to start running a NG drilling and pipeline operation, but who knows?
I think the NG glut comment is relative to 2002-2008. And it probably means banking loans are harder to secure.
Is everyone asleep at the wheel here tonight? Am I the only one that is reading the new SEC filing?
Edit: Ok, I may have jumped the gun here. At first read it looked like MNLU was about to sell $8 million dollars of new shares at up .55/share, but now on a deeper read, re-read, this looks like an update of the registration for the MNLU shares that will issued to AEXP shareholders during the merger, registering them so they will be tradeable, and not restricted after the merger.
This is the Fidelity Link I am reading from:
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7732009
Even a broken clock is right twice a day. (the old style clocks)
On the Japan interest, I would be surprised if Japan interests were not interest in MNLU and BV NG. They need LNG sources and delivery capacity badly!!!!!!! They were hurt real bad by the nuclear event earlier this year, and one of the more recent reasons I have been accumulating MNLU and AEXP stock (for over 18 months now), is Japan!!!! LNG in Hawaii goes for 10 times the price it does here in Texas (last time I checked). Japan now has new, similar problems, and there other options for NG are China and Russia!!!! (not the best choice for them!!!).
So the story about Japan interest is not really news to me, just possible confirmation.
Well Pig, you were right (in part) and I was wrong (in part) but a wise man once said, "we will see"!!!!! In the long run I think this is going way higher. In the short run some one got A few cheap shares today, maybe you, maybe the MM, who knows, and I don't really care.
I think part of today's and this weeks sell off here was the market and Washington Debt circus, not MNLU.
But we do have news tonight!!! So it's time to read up, and lets all discuss what the news means. For now I guess the pigroast holiday is delayed.
WE have major news folks! Reading it right now.
No. Why do you ask?
That MACD tells the real story, $3/share coming soon!!!!
I just took the time to read the last SEC filling, which I had skipped, even though I was long (long boring bank quarterlies bore me) at first read it all sounds like great news, but then the losses look like a 400% jump versus prior quarter, and about equal to 12 months ago. so the increased losses plus the Washington mess may have been the trigger. I am down about 90% now on the first share lot from about 18 months ago, thinking about finally giving up on this bunch as this Washington bunch and market sell off might get even nastier. I already got hosed this month on a few other stocks. This punk is not feeling lucky today!
Edit: Book value June 30th 2011 is listed at $1.66/share, but the numbers I see indicate a book value of about $2.10/share, so when this bottoms, it may be a good buy after all. Just depends on how fast things get better or worse.
Any clues as to why this one is, still is getting hammered so bad?
Any bottom targets?
Wasn't so long ago that insiders were buying at $1.21, shortly after the last R/S. I did not expect to see prices this low again, unless we got bad news, but I have not seen news bad enough to cause this drop?
Any bottom, or bounce targets? If so what is it and why?
Hiding from the big bad bears!
Got another email from Scott (he has been arranging occasional conference calls with Byron Elton for the Yahoo CABN board, et, al, for a good while.)
All Conference Call Members (CABN):
The phone number/access number information for tomorrows conference call is...
218.339.4600
719782#
Remember, the conference call is scheduled for 4:00PM US Pacific Standard Time. Please adjust to your local time standards.
Next Conference Call
Thursday, July 28Th, 2011, 4:00 PM Pacific Time (7:00 PM ET, 6:00 PM CT, 5:00 PM MT)
I expected good news, etc, and wallstreet manipulation games to drive it up to the old $2 target before the dilution, so they could sell the new shares at $1/share.
FWIW I increased my share count by 50% a short while ago, to average down my $1.20 ish average cost. I will add a lot more if it goes lower, but I suspect this is the bottom. MM's may do an opening bell shake out to steal overnight selling shares and stop losses, drive it to .35, but good luck getting your orders filled. I think this is the bottom, unless great depression III is starting thanks to the idiots in Washington DC.
I will post more later tonight.
I am shocked to see it go this low, but it seems to be a perfect storm.
The latest news says the new shares at selling at .52 (but include warrants with the shares, and the warrants are convertible at .64). If the over allotment is used up it works out to about 44 million new shares, and 44 million warrants, which uses up 88 million in the AS, and takes us to about 80% of the new AS which was 250 million.
.52 x 44 million (less the fees) is going to be about 21 million dollars, divide that by 150 million shares we get an increase in cash per total OS shares of about .14/share. I think existing cash is at about that level as well, so we end up with .30/share (based on 150 million final issued shares) in cash plus the deals and pipe lines as the basis to value the stock, and about 44 million new warrants at .64 hanging over our heads (but if exercised they would add cash).
By the way, no one can convince me that the big boys were not selling this the last week based on insider information (knowing this coming), or at least they stopped buying and or supporting the price, knowing this was coming! SEC! Are you still asleep at the wheel?
So does anyone think we have seen seen the bottom at .40x today, and if not where do you think it will bottom?
We are now testing a two year low. I am holding.
Very strange, now suddenly with no more volume, those 289,000 shares offered at .14 are gone, and ask is back at .18!!!!
But wait, EDIT, RAJA just came back and offered 5000 shares at .14
What a racket! Something is up!
Edit 2: Now they are back, 278,000 shares at .14?
Someone is playing games?
I tried to buy some, and no joy, said to call in for more info, and say buying is blocked. Pink sheets has no quotes and has Caveat Emptor listed, skull and cross bones. But Fidelity charts and quotes shows the stock actively trading. Very odd.
Consolidation is over! Go ABAT!
Just like I said I expected, R/S after the conversion of debt. My guess is they will do a 50:1 or 100:1 R/S. That would take it down to a 4-9 million Outstanding shares, at about $25-$50/share when the price settles down.
What is not clear to me is how much debt they will still be servicing afterwards, and how that and earnings will turn out later. I expect some shares will be dumped for cash by some of the prior debt owners.
Then why is trading today?