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Sell the news? Nope, it was a whole 10,000 shares!
I didn't care about the news. I just dropped a few thousand shares to see how it would trade, and it didn't do too well.
I dropped a lousy 10,000 share block on HDSI at 3:24:07pm, and the stock was down for the day.
CMGO was a bit tougher since someone seems to like putting in a buy order at 3:59pm, but partly got swamped by my sell order for 20,000 shares at 3:59:30pm. I guess next time I will have to get closer to the bell for the sell order.
Louis J. Desy Jr.
One should back off the bid.
Well, I have no idea who is stilling on the bid for a few million, but they should back off the bid to $0.0004 or even $0.0003.
Sitting at $0.0007 is not a good idea, since once the orders are filled, only the market marker will be there with a puny little 10,000 block that will melt at the first sell order.
I bet with a little work, one can guide the bid/ask range down by at least 50%, if not more.
Louis J. Desy Jr.
I have to own shares!
It is the only way for someone to file a shareholder derivative lawsuit!
No matter what happens, I have to make sure I always keep at least one share.
Louis J. Desy Jr.
Too many on the bid
I couldn't do that much, there was 4 million plus on the bid all afternoon.
I need the price to go lower so I can load up a bunch and then drop them all at once, like the road runner dropping an anvil on Wild E Coyote.
I knew I should have stocked up on the decorative worthless common shares last year when the stock was dead and a few hundred million was on the ask for $0.0001! I bet I could have placed a special order and gotten a boat load for under $0.0001!
Louis J. Desy Jr.
The email was real.
I am not sure what or why you would think it was a fake. If you would like, the next time I have an email exchange like that I can put you on as a BCC, just private message me an email account I can put it to. Then you can see it in the original send of the email. I have a number of people that I have on the BCC with the exchanges and everyone is just about getting sick from laughing so much at Vik and company.
Louis J. Desy Jr.
P.S. You could also ask Vik directly if the email is real or not and see what he says.
So close!
Someone got in an order to buy at 3:59:56pm for a block of 1,000 shares; but it was not enough to save the day and the stock still ended up down 2.7%.
Of course, my order to sell 20,000 in the last 30 seconds may have not helped any.
I am going to have to try to see if I can get an order in and executed at 3:59:59 from now on!
Louis J. Desy Jr.
I am a conflicted person.
I admit that I am conflicted at times. Also surprised at how weak these stocks are.
Louis J. Desy Jr.
Forget about the filings, this is more fun!
Who cares about the filings when you can push the stock into a loss for the day with an order to sell 10,000 at the bid!
The thing still has not recovered!
Louis J. Desy Jr.
At least 10,000 shares
I can't place a sell order for less than 10,000 shares with the price at $0.0007. The automated system 'kicks it out'.
I think I may be done with HDSI for the day, CMGO might be interesting in the time up to the close today. I want to see how close I can come to 4:00:00 to get a sell order in.
Louis J. Desy Jr.
I think it is going to get cheaper!
Don't worry, Once the conversions start and the truck loads of common shares start getting issued, people will be able to buy all they want!
Louis J. Desy Jr.
P.S. My order also shows how weak this stock is if my sell order for 10,666 shares could push it down 11%!
BS orders!
Hey, I'll have you know that I had tens of dollars at stake on those orders.
As we get near the close today, I started to get nervous about my holdings in HDSI and CMGO!
Louis J. Desy Jr.
P.S. I think I better sell more before the close, before it drops on me!
Schedules due June 13, 2016
Document 116
www.kccllc.net/peabody/document/1642529160415000000000007
The missing schedules and statement of financial affairs timeline were extended until June 13, 2016.
That is when one would be able to tell what is left and if the common shares can expect any recovery.
Louis J. Desy Jr.
As a note of interest, the June 2016 $0.50 puts I have expire that Friday, June 17, 2016. I should have sold them off on the day they filed or bought shares when BTU was around $0.60 as a trade and used the puts to 'backstop' the trade if the stock continued to decline.
What would happen if
What does the chart show, or what do you think, would happen if someone sold a block of 1,000,000 shares at market at 3:59:30 pm?
Louis J. Desy Jr.
Wouldn't it be funny
I wonder what would happen if someone put in an order to sell a million shares at 3:59:30 pm.
Louis J. Desy Jr.
What about ZERO Assets?
What about the fact that the 10Q reports for 2015 Q2 and Q3 show ZERO assets but hundreds of thousands of dollars in liabilities?
Does that concern you at all, or is that another 'good sign'?
Louis J. Desy Jr.
Tricky read, more like shocked
Actually, I was more shocked when I read that. This is one of few times I have seen an 8K report detailing that the old CPA firm wanted to include a 'going concern' statement in an upcoming filing about the company.
Usually, a company with that kind of problem in an upcoming filing, would have realized it and made the change to a new CPA firm before it had to be disclosed in a SEC filing.
Louis J. Desy Jr.
Going concern language in 10K draft for 2015
I had a chance to reread the 8K report closer. It looks like the reason to change CPA firms was that the old CPA firm was going to include 'going concern' language in the 10K report.
8K report about changing CPA firms, filed May 3, 2015:
http://ih.advfn.com/p.php?pid=nmona&article=71332235
M & K’s reports on our financial statements for the fiscal year ended December 31, 2015, however, stated that there is substantial doubt about the Company’s ability to continue as a going concern.
The new firm started May 2, 2016
The SEC filed 8K says the new firm started May 2, 2016; so that is when the new firm started. They 'couldn't have been working on it for a while' otherwise the start date would have been earlier.
That means the new firm has had ONE day so far to work on the filing of over 100 pages, and that is just the 10K report, there are still also two 10Q reports (2015 Q2 an Q3) that are late from 2015 plus another 10Q report will be needed soon for Q1 2016. That is a total of three reports that are overdue plus another one that will be need soon.
Louis J. Desy Jr.
New CPA firm on the job one day so far
Since the 8K report indicates that the new CPA firm started on May 2, 2016; it means they have been on the job one day.
Vik indicated to me that the draft of the 10K report is 115 pages.
Don't you think that a new firm would need more than a few days to go over that many pages in a 10K report and need to verify everything, especially if they are going to sign as a CPA firm on a SEC filing?
Louis J. Desy Jr.
Switching CPA firms a good sign?
So switching CPA firms when the SEC reports are months late is a good sign and somehow is going to make the filing faster?
Why not wait until the SEC filings were filed, and THEN switch firms?
Louis J. Desy Jr.
I think it is a bad sign they switched firms
I do not think it is a 'good sign' they switched accounting firms, especially in the middle of filing SEC reports. According to emails from the company, the draft of the 10K was ready, but now months after the end of the year, they switch accounting firms in the middle of preparing the report. That is supposed to help the process? How? What was the other accounting firm doing since Dec 31, 2015?
Louis J. Desy Jr.
Bid/Ask spread much better than in past
The bid/ask is $0.06/$0.07 with only 10,000 shares available on each side. This is much better than the past. When the company was in Chapter 11 a few years ago, the bid/ask difference was something like 100% (example $0.05/$0.10 with only 5,000 shares on each side, it looked like only the market marker was around to take the other side of the trade.)
Louis J. Desy Jr.
Annual Report expected at end of May 2016
I sent an email to the company with the old email address. They replied they hope to have a report by the end of May 2016. That is good since in the past it was not usually until July or August that the report would be available.
Louis J. Desy Jr.
Web site back up http://www.sterlingenergyresources.com/
I went looking on the off chance to see what had happened to the company web site address, and was surprised to see that it has been setup again. There is not much info there, but they do have a new email address and a contact form.
Louis J. Desy Jr.
Bought back in.
I started buying back in. I got several thousand shares to start. I expect to hold this until the next oil boom is going, probably for at least 3 or 4 years.
Louis J. Desy Jr.
SirenGPS was written off.
The company announced that the SirenGPS product was written off. In effect, they threw the whole thing away in a dumpster and was totally worthless.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=118299418
All assets of HDSI's SirenGPS business, including intellectual property, software code, trademarks and customer lists, will be removed from HDSI.
I will be counting the days!
I wonder if the missing SEC reports will be filed first OR an 8K listing additional common shares being issued?
Louis J. Desy Jr.
I didn't bring up SirenGPS, Vik and you did
I thought SirenGPS was a dead product, but Vik mentioned it in his email to me.
I have no idea why, since the company already filed SEC reports that listed it as being written off; now Vik is sending out emails about how it is being used.
Plus, wasn't SirenGPS returned to Paul?
Louis J. Desy Jr.
SirenGPS has ZERO revenue.
Louis J. Desy Jr.
Delays happen?
It has been months and no indication that they are ever going to file anything again.
Louis J. Desy Jr.
SirenGPS and Boston
Why would anyone need SirenGPS when they are in the middle of a major city with cell service all over the place, and police/fire/EMT deployed everywhere for the event?
Google Apps shows this has no more than 1,000 downloads. How useful is that?
Plus I seem to remember that the product was written off as worthless.
Louis J. Desy Jr.
Printing the report, can't be done
I can't print what does not exist.
But don't worry, it is only months late.
Louis J. Desy Jr.
Glossy report not needed
They only thing they need to do would be to print out a copy of the 10K or 10Q report, assuming they ever file any more SEC reports.
They could even issue drafts of the reports with the qualifier that they are drafts.
On another note, why are the reports so late?
Louis J. Desy Jr.
Proof from email sent by company to me
Direct quote from company email sent to me at Thursday, April 28, 2016 11:27 AM:
We are also not spending $100K on an annual report at this juncture.
Company says filings are too expensive
The company, in an email, said that it would cost $100K to bring the filings up to date and doesn't want to spend the money.
Louis J. Desy Jr.
SFTWQ? No quote?
Did this get delisted? I have not been following for a while and can't get a quote.
Louis J. Desy Jr.
How do you know that?
Have you talked directly with Vik?
Louis J. Desy Jr.
I don't expect Q1 to be too bad
Even though I expect the company to have a bad Q1, I don't think it will be a disaster.
The problem in all of this, is when will NG prices rise to the point where the company makes money, and what condition will the company be in then?
I still find it amazing that the bank did not pull the credit line. If NG prices go no where for a few years, the line will get drawn down over time, and then the bank will be stuck with a mess.
People usually do not go into a bank to get a loan with the line 'I just need a few billion to tide me over until I can earn a little more money'. But that is what we are seeing here.
Louis J. Desy Jr.
PAPER!
I like getting mail at my house.
Louis J. Desy Jr.
Just sent a request for reports to Vik Grover
I just sent Vik Grover a request, by email, to have a copy of the latest annual report mailed to me at my residential address.
The email address I found was VGrover@sourcegrp.com. Is that the correct address or is there a better email address to send requests to?
Louis J. Desy Jr.