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The two things I would like to see this week.....
1. All debt paid off
2. 800 Million Share buyback
It would be nice for that to happen.
It would be nice if S3 could get a cash payment versus stock at this point in the game.
The interest on the notes get changed into shares starting in Feb. The price will probably not go below .0006 because the holders of the notes don't need it to. They want it to stay under .001 so they get more shares for the interest. Then when S3 pays of the note. They will be the lowest on the ask until they sell all of their shares for a nice profit. This is why people who say we need to pay down debt are on the right track
This will not move until the debt is take care of, as some on the longtimers have said. Here is why...(from the S-1)
Note 10 – Derivative Liabilities
Both Senior Note A and B include certain beneficial conversion features and put options. The features, described below, are as follows:
The variable principal conversion feature, which allows the investor to convert Note A into common stock at the rate of 60% of the lowest daily closing bid price of the Company’s common stock during the 5 trading days prior to the conversion date, but in no event less than $0.0006 per share. The variable interest rate provision which allows the investor to convert the interest accrued on Note AA into common stock at the rate of 60% of the lowest daily closing bid price of the Company’s common stock during the 5 trading days prior to the conversion date, but in no event less than $0.0006 per share;
The variable interest rate provision which allows the investor to convert the interest accrued on Note B into common stock at the rate of 60% of the of the monthly closing bid price of the Common Stock on the last trading day of such month
The put features, which allows the investor to convert the face value of each Note into securities held, or to be earned, by Redwood Capital and/or cash at each Note’s maturity.
I hope these new uptick proposals affect penny stocks as well.
$48 well spent!
I love how people do 5000 share trades thinking that they are going to move the share price, when it hasn't moved for a month.
It is nice to see people taking a million shares of stock at a time.
It will hopefully take out this resistance, ETMM.
I would like to know also.
SIVC Share Float from pink sheets:
623,307,343 as of Feb 11, 2009
It is 1/3 of the outstanding shares, which is better that all of the 1.7 billion being freely traded.
Good luck getting through ETMM. They have been on the lowest on the ask for the past 2-3 weeks. They definitely want downward pressure for some unknown reason.
It would be nice of them to reduce it to under a billion.
It looks like we're stuck on .0007. I would just like to know why they aren't letting it go higher?
The pps would progress if someone laid down some cash to buy through the load of shares someone is intent on selling below .001.
Uptick Rule possibly to be reinstated
March 10 (Bloomberg) -- The U.S. Securities and Exchange Commission may propose within a month that the so-called uptick rule be reinstated, as regulators aim to bolster markets roiled by the worst financial crisis since the Great Depression.
The SEC staff may advise the agency’s five commissioners to vote on the proposal at an April public meeting, according to people familiar with the matter who declined to be identified because plans haven’t been completed. The SEC will solicit public comment before deciding whether to bring back the rule, which bars investors from betting against a stock until it sells at a higher price than the preceding trade, the people said.
Don't you just love it when someone lowers the price with a $3 trade.
ETMM has been on the lowest ask for the past week.
I agree.
On the L2 this past week, there was some MM's sitting on the ask that aren't usually there.
4 months with TSX is a lot faster than the SEC.
JB probably got frustrated with the SEC goons, rightfully so.
People are probably shocked citi is a penny stock now.
Did anybody find an "Earn-In Agreement"?
"Redwood Capital Inc. will be entitled to receive 1,015,566 Acquisition Preferred Shares, subject to meeting the
conditions set out in the Earn-In Agreement."
I thought another closing would help out our price, but I guess we need a few more.
Any ideas on when JB is going to give pink sheets all the paperwork to get the "current information" stamp?
Nice volume, but someone has a chunk of shares selling at .001
Is S3 still getting 2 Million per project?
I agree, they may not have the manpower to do multiple in a qtr, right now. But, they may have most of the financials of the companies that were supposed to close this past year. They would just have to adjust to the TSX's guidelines, which could make for multiple closings in one qtr.
Thanks for the clarification. I zoned out when I posted that.
This looks reassuring based on what is happening. I was expecting much worse. It looks like they are keeping their expenses to a minimum.
If S3 is getting 2 million per close, the liabilities would be paid off and 1 million in cash. The balance sheet will look real good once enhd S-1A gets approved and the next company closes and starts trading.
Any ideas on how did they racked up $773,000 in interest expense?
It's very quiet here....Kinda like before a tornado.
The new listing should appear on this page of TSX-V.
http://www.tmxmoney.com/en/market_activity/new_listings_venture_current.html
That was interesting. 1 mil positions available to short through NITE.
I'll have to pay closer attention to NITE on L2 to see how they line up on the bid/ask, to see if they are playing games.
I think it is 357,000 contracts. So that would be 35.7 million shares. I agree not a lot but enough to keep it down.
Does anyone know where people are buying the shorts on sivc? I would like to know where they are trying to hold the price at.
On the pink sheet website it said there were 357,000 on short interest on the end of Jan. In the beginning it was 12. Big change.
Somebody is trying to do something, just wish I knew what.
Thanks for the clarification.
The pinksheets website says they have only 2 employees as of 2/11/09. Does anybody know anything about that?
I agree with you, but if S3 stays current it should not take as much as before to finish all the financials for an uplist.
Was it not Cramer who predicted the stocks 48% correctly.
My lucky penny is 50% accurate.
They just like to hear their voices.
They have been talking about Chinese construction in their latest PR's. Haijie is that area. So our next company could be Haijie.