New to iHub, but old man
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James Wang is a VC-Investment Banker guy, but knows nothing on how to run a sub-penny stock.
YIKES. This is not IBM or Microsoft? Wait, you can buy shares at 3 for a penny?
From Internet:
Wang was a director of the STOA since March 1, 2012 and was previously a Managing Director of Soconison Technology Ventures, a VC firm focused on technology, media and telecom investments, since October 2003. He is a twentyfive year veteran of technology investing and entrepreneurship and began his career at First Boston as a NASDAQ trader in fledgling companies, incl. Intel, Apple Computer, Microsoft and Lotus Development. He later transitioned to technology investment banking where he arranged over $800 million in funding for companies in semiconductors, data storage and programmable logic. Since the mid1990 Mr. Wang has worked in Silicon Valley as an angel investor and has also started several companies, including a micro storage device company which was sold to Maxtor, and a Storage Area Networking company that was sold to Lucent. He holds a MS in Computer Science from MIT and a MBA from UCLA.
$300 grand is cheap for a fully reporting shell. Given the fact STOA has million of dollars in tax-losses unused, a profitable company can reverse into it and will NOT have to pay taxes for years to come.
Hmmm, STOA a tax play?
Certain conditions would have to be met, but YES....very do-able.
$300,075.75 is what STOA is worth based on closing price of $0.0035 x 85,735,929 shares.
Mr. James Wang, CEO, gave it to Magna Group to sell.
Magna, the ATM.
More cash, please.
Will 7 million freshly minted shares every couple of weeks be enough to fill the tummy? YUMMY, thanks for the cheap shares?
Cheap? How about FREE?
What happened here? Haven't looked at this stock since October 2012. Was doing some edit and decided to pull up a quote. Oh, WOW.
Ya, sign me up for an ATM card. haha
With that said, don't expect them to call you back. LOL
Thinking is not good. Makes you think of bad thoughts here. LOL
Only 2 directors? One is CEO and the other is Dennis Schmal.
Did a Internet search on him, OH WOW. When I used Yahoo Search, the third entry was about him in Forbes. Without clicking it, the summary listed him as a Director at Merriman Holdings, Inc.
Isn't this the same Merriman brokerage firm that recommended STOA as a BUY???
Don't know why a big guy like him would let STOA go down to less than a penny. Seems like he would be rich enough to buy the entire company.
As long as suckers are lined up to buy at the bid, they will hit it with a withdraw. Love this ATM. Full of folks who loves to fill it with cash.
Where is my ATM card? I am tire of being on Welfare.
No BK while using ATM for cash. After the ATM dries up, then will sell as a shell.
Major pumps cost $100,000 or more. Who is going to pay for that? Normally these pennies have large shareholders with either deep pockets or large amount of free-trading shares who will pay for the pump.
Why would they pay for it? They want to sell some of there shares into the pump. Even with less shares (due to cost of the pump), they still come out ahead if the pump works.
STOA has no one to pay for the pump. Look at the Board Of Directors, mostly VC guys in Hong Kong. They are not going to pay for the pump. And most long time loyal shareholders are so disgusted by their dream turning into a nightmare, no way they would help now.
To make matters worst, new CEO decided to use a PIPE for ATM to get cash out of this dead dog. Sadly, all upticks will be met by ATM selling.
Just can't stop using this ATM.
Hit the bid. Get me some cash.
Hit the bid. I don't care where the price goes. Get me some cash.
When reverse is done, let newco get the blame. Let them reverse split. Have bagholders yell at them. LOL
Get me some cash.
(Wouldn't it be a shame if this was really the way it is? Maybe.)
Good lucky, longs. I am outta here for now. Bad feeling about poor revenue numbers coupled with higher expenses.
If stock drops big time after earnings come out, I might bottom fish for a quick trade.
But of course, if they decided to PUMP, I might put on a few quick pop trades.
One word, hope.
I fear the only news will be bad.
Poor sales.
High expenses.
Not much hope, other than stupid good-for-nothing endorsements.
Will do more DD. With so little money in the bank, can't see the type of people they can hire nor the products they can sell. Most suppliers will not give this kind of company credit.
So buying shares of what?
Just read their financials. Only $1000 in the bank. YIKES.
Why is this stock down so much?
One million shares @ 0.0045 is only $4,500. How the mighty has fallen.
Thanks, I will check them out. Always felt taken when not filled at Bid when buying or at Ask when selling.
My guess from their answers to me. The guy did not even know which product will sell best......WE are target marketing......Ya ya ya.
OK, OK, LOL
I have never had a LIMIT BUY order filled at the bid when spread is so wide. Even when my own brokerage firm is the market maker, they will not fill me at the BID.
Your brokerage firm fills your buy orders at the bid? I need to open an account with them.
Which firm did you use for this trade?
No way. You could not have bought at the BID side. LOL
Forget old charts. New company with new game. Don't know what their game plans are yet, but this is a re-start of an old company.
No revenue, yet.
When are the UGLY numbers coming out?
Tustin number no longer works.
I just tried to call them for more info. Their main number 714-730-8143 is no longer in service.
I then went to their website to obtain another number, 888-244-1455. After about 6 rings, a male voice said "You have reached 'Merchant Services and no only is available to take your call."
WOW. Not good first impression. Whenever a main number is not longer in service, I smell OH-NO. And if a second company posted number does not allow me to talk to mgmt, normally is not a good thing.
How did you gain 50% when the stock is off so much? You mean that you bought before the big run up and didn't sell at the peak?
WOW. Some lost 50% in 2 weeks.
All PRs sound great. Why crashed?
Where are all the 7-buyers? Do you know something or just out of money?
LOL. OK. That is how I do DD. Guess work. As you know, understanding how it works is half the battle. When it's all said and done, comes down to guess when it is the right time to buy/sell.
All was said here was 6 people trying to make it work. All these crazy numbers of million does not make common sense.
As far as Weed is gone? Don't know him. Just read Form 4. Somehow, some folks are always around. Foreground. Background. They're around.
I am going to watch how it pencils out. Timing. Buy. Sell. Or simply stay sideline.
Average last 9 months about 15K per month. Probably about the same is my guess.
Financials would be in the deep red and will look even worst until sales can gain traction. Don't see that happening any time soon with just 6 employees.
Money wise, startups do not have much capital. Since Weed sold 500K shares at $0.15 (per Form 4 filing), this should net him about $75,000. My guess, and only a guess, is that some of this money will be lend back to the company as a convertible at current market prices with a clause at lower prices if market continues to fall. This means he gets 1,000,000 shares based on current levels upon conversion. Weed is the corporate secretary, so he must follow all insider trading rules. Both Rules 144 and 16b applies.
According to the same Form 4, Weed still holds 2,170,000 shares following the reported transaction. This would mean he can sell FOUR MORE BLOCKS of 500,000 shares to help fund LVVV (assuming he did or wanting to in future).
It will be interesting how 6 people working for a deep red company can make things work out for everyone (including shareholders).
Still on the side lines watching how this quarterly pans out. If it goes up based on great things happening, then there is nothing wrong with buying high to sell higher. Profit is profit.
That said, if stock crashes because of stupidity, then forget it. Stock will just go down down and down with a few dead cat bounces along the way to zero.
1,000 share paint job at $0.075 (15:58:40) Too easy. LOL
No shooting down. I said earnings will be ugly, but the future of this startup looks bright.
I would expect lower sale numbers. Look at their ending 9/30/12. On page 5 (under Income) show sales nosedived from $402,122 down to only $135,674.
If trend has been stabilized (and not trend further down), then sales should be about $15,074 per month ($135,674 divided by 9 months).
Not a good sign for those who are looking for huge numbers. Margins are awful for new market products. Even at 100% profit (cost of goods sold at zero), $15,074 divided between 6 employees will only be paid $2,512 per month.
Southern California is an expensive place to live. Couple grand a month will not buy much in way of rent and food. Maybe they can live on a few packs of LiveWire energy chews a day. Chew. Chew. Chew.
$0.0041??? Some were sold at $0.0041. STOA is turning into a joke. STOP LAUGHING.
Hitting the bid using ATM is crazy. He must either don't care or need money for rent. If you keep banging the bid, it will shatter. Then it's HELLO, 4's.
Shameful.
Never did return any of my 6 calls. Trying to hide in China while USA shareholders are screaming?
New CEO must need money bad. Can't seem to stop using the ATM, no matter how much it hurts shareholders.
Yes, financials will look uglier and uglier until they turn the corner. Most startups have ugly net numbers.