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NOT EVEN CLOSE TO BEING CORRECT.
-Matt
Glad I am not the only one seeing some MAJOR PROBLEMS here. Like some have said, we may NEVER hear from these guys again. Every red flag is out there.
Just need to see between the lines a tad.
IMO
-Matt
If the company would actually talk to us we wouldn't have to speculate. I doubt they would be required to state the original funding source.
-Matt
Unless that debt was not straight cash and a LOAN from another source (bank, etc.) thereby closing the loan with the bank and putting it on the line with the company vs. the individual and if all goes BAD... the loan gets washed away vs. held over one of the owners heads.
Basically, by converting those shares WE paid off that loan with the dilution to the PPS.
IMO
-Matt
I did speak briefly with a very knowledgeable source yesterday about this topic. These guys can go private ANYTIME they want. Not required to do anything in regards to shares on the open market. Basically, when was the last time you EVER saw a Pink go private and pay out investors? Never.
Maybe it is a good sign they are still trading if it is indeed that easy to go private.
IMO
-Matt
That can't be good news? Unless it will help to recover our losses as investors maybe?
-Matt
If your dumping shares then you sell at the bid, otherwise you wait in line at the ask until someone clears the first offer of .0022 and then seller would then get filled afterwards. Ask is first come first serve, bid is get out immediately.
Make sense?
-Matt
Yah I don't want to hear from him either. Any communication with an insider puts that person potentially in harms way for a SEC investigation.
Say it to the world or don't say it at all!!!
IMO
-Matt
Not sure on that, but I would 100% take that as a payout to put this thing behind me.
IMO
-Matt
From the chart it seems pretty POSITIVE to me!
-Matt
What happened to the Spring/Summer run last year? All this thing has done is TANK!
IMO
-Matt
More volume. Just need to hear from the company, hopefully soon!
-Matt
What do you see that will cause a big monday? I tried reading through the Court documents, but it is all confusing!
Anyone can clarify that would be great!
-Matt
I agree 100%... some people are just not as vocal as I am and others are naive of the situation. When I got TONS of money on the line, I sure as hell will be the squeeky wheel!!
-Matt
Play by the rules or get delisted, simple. It isn't to much to ask. Get rid of the companies that are fakes and frauds and leave us with genuine companies to trade. It's up to them to make the move now and let investors know what kind of company they are running. Up to this point, all the facts point towards a hobby and delisting!
-Matt
PENSON not ZECCO!!
Do you want me to list all the major brokers that use PENSON as a clearing house!
I admit to buying to heavily into a pink, HOWEVER, there is substantial blame on the company's part for the position we are in.
-Matt
WRONG!!! Penson has restricted the trading of this stock through zecco. I can sell 10% of the past 60 days average trading volume per day... meaning I can sell what maybe 10,000 shares a day. It would take me 10+ years to sell all of our shares!
We are stuck in this stock and this is directly because of the company's inability to file timely and keep the business legit with the SEC!!!!
From what I am hearing, Penson is the tip of the iceberg, these restrictions will be rolling out to most brokers in the near future. Meaning nobody on here will be able to buy or sell this stock unless the company makes MAJOR changes to their mentality in dealing with the publicly traded portion of the business!
-Matt
Agreed! Time will tell. 5-10 Years or so we should have an answer... LOL
-Matt
Exactly... the question is who was the lucky one? Matter of opinion based on where you think this stock is heading. If I could sell it, I dump them all instantly!
-Matt
Some may say lucky... others may say the seller was lucky in that he/she was able to sell period!
-Matt
I've posted it in prior messages. He confirmed the business reg. was updated and said that there was more coming shortly.
-Matt
He responded to me twice almost immediately. I say we will see some updates so, maybe a month or two at the longest.
IMO
-Matt
The big deal is that it is WRONG! It states 1 million when it should read 1 BILLION. I didn't know about this and it was NEVER stated on this board. It is a big deal and people on here just are to afraid to admit it.
WHATEVER. We ride out this circus show and in the end our odds of EVER getting even again grow smaller and smaller.
-Matt
I can care less what Evan has to say over the phone. Put it in writing and FILE IT. He converted his debt into shares and that directly effected you and me!!
Why don't you ask Evan whats up with that three 0 slip up on the statement????
-Matt
THE LAST REPORTED FINANCIAL STATEMENT!!!!!! DUH! That is a FACT and is what investors have to go by. None of this BS phone call crap sharing information with certain people. Prove anything otherwise!
So how much did they cover up and hide from us since then????
-Matt
BIG F'N Deal!!! Evan converted how much debt to shares???? That killed us. Now there is potentially another BILLION A/S rise needed if more debt becomes converted.... they did it before why not do it AGAIN!! Wake up!! Everything is not rosey here.
I'm SO SICK of the cheerleaders on here!! We are down in the dumps, no financials, BIG Red stop sign, no communication, missed SI. CRAP thats what we have... CRAP!
And all you can say is ohh they will turn their attention soon to the stock! Yah right its been how many years of saying that and we are SUBSTANTIALLY in worse investment condition than we were years ago!
I'm out for the day... swallow that potential BILLION share A/S rise and then consider where we REALLY are with this ticker!
IMO
-Matt
The debt was always there... the amount of shares needed to convert it WAS NOT.
-Matt
Call it what you will... LIE, TYPO, DECEIVE, COVER-UP, SCREW OVER SHAREHOLDERS... whatever it is, IT IS WRONG on a SEC form. This is just a mess here.
IMO
-Matt
They have debt that can be converted to shares that exceeds the A/S by over a BILLION shares. Meaning in order to convert that debt to shares if it is called due, they raise the A/S by that many more shares! The SEC statement indicated only a little over a MILLION not a BILLION. Someone doesn't know how to ADD apparently.
SICKENING.
-Matt
1.6M traded. Looks like someone is getting a few lotto tickets!
-matt
If an accountant prepared these, how the hell did they make that MAJOR of a mistake?? My TRUST level with these guys is at an all time low.
-Matt
Wonder when we will see an update. They had a SEC update last March 15, 2011. Maybe we will see something around then.
Fingers crossed.
-Matt
And just to add some supporting evidence about this "Viable" company...
Last 10Q issued:
NOTE C – GOING CONCERN
**The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company incurred a loss from operations of approximately $251,000 during the nine months ended September 30, 2010, had an accumulated deficit, and had negative cash flow from operations of approximately $267,000. These matters raise substantial doubt about the Company’s ability to continue as a going concern.**
Also after reading this last 10Q much more closely did anyone notice this HUGE typo...
**Reclassification of Certain Securities and Obligations under ASC 815-40 – Contracts to be Settled with Company’s Own Equity.
The Company committed to issue more common shares than authorized by its Article of Incorporation. If the Company would be required to settle all of its outstanding warrants and liabilities with common shares as of September 30, 2010, the Company would be required to issue up to approximately 1,147,000 common shares over its authorized amount of 2,500,000,000 common shares, representing 250,000,000 shares for the settlement of warrants and 897,000,000 shares for the settlement of outstanding convertible debt. **
Add those two number up... they don't equal 1,147,000 they equal 1,147,000,000 which basically means if they debts were called upon they would need to raise the A/S by 1.147 BILLION shares and dump those into the market. WTF is that about.
Link:
http://sec.gov/Archives/edgar/data/1084702/000119312510260912/d10q.htm
Something is beyond wrong here.
IMO
-Matt
So what is your definition of a VIABLE company? Unless you have information that everyone else does not have... based on previous released financial statements they are FAR from viable. IF anything, they are on the brink of closing up the business and moving onto a new hobby.
Why would ANYONE buy them out? Sales are dismal at best, HUGE outstanding debts, and well from any potential buyer looking from the outside in... EVERY SINGLE RED FLAG is BLATANTLY evident.
We need a MIRACLE to turn this around.
IMO
-Matt
I second that!! Learned the hard way here
-Matt
Agreed!
They sure are.. almost 1M dumped and barely holding .002. Imagine if someone decided to dump 20M+. No bid support! Even if people could get out, they would destroy the PPS doing so.
YUCK
-Matt
Unfortunately, I told everyone about this stock and many, many, many friends, family, and co-workers invested. Everyone is down TONS of money and trust me when I say it is a very SORE topic up here in CT. BEYOND disappointed in this company and wish I NEVER invested in it.
IMO
-Matt
Yup stock that most can't even sell and any new interest means most can't even buy!
BLAH.
-Matt
That is my thought as well. You can make money many ways down here in the pinks... Wait for the pump and get out while yah can Been holding these shares now for a year + so at least a tax break will come with the sale of stock if it happens.
IMO
-Matt