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Yes, the ATM is now broken.
Too many empty stories,
Too many empty promises,
Too many shares issued with respect to where the OS started out after the RS.
It used to be that the push downs lasted for quite a few days, and you barely got a day up breather to sell, but lately, it seems the reverse. The last week or two, they seem to push it down for one to three days, and then pop it up for three days, then push it down for a day or two and pop, etc. so you have to be ready and nimble on your buys.
They always like to change it up a bit to keep the impatient traders off beat, especially those who don't stay disciplined enough to only use settled funds for their buys. I did get caught in one of those where I got confident enough to add some shares with unsettled funds and then I was not able to sell in the .60s when it popped - very frustrating. The up days seem to be getting for shorter time spans lately, so I am wondering how they are getting ready to switch it up again. Maybe longer down days spans for a bit, not sure. It all depends on if Peter has another card up his sleeve like the BW rumor to get it pushed back up again.
I just keep reminding myself of several things. I'll list a big one on each side of the thinking:
Positive: SAPX does have a BV of .93 now and it is only selling at .37. Should have some NICE upside if investors can ever get a good level of confidence in what the company is doing.
Negative: Peter has been documented to be charged with fraudulent types of practices in a few court cases. He is not very good at paying entities he owes money to, and he tends to use shares from this company to buy himself and the company out of the troubles when cornered.
Translation: Dilution could be unending (bringing that BV down each time) if he does not figure out how to get a good revenue stream from a few movies. Consequently, such practices could easily lead to the need to do another RS again to buy him more flexibility to play the game longer.
Actually, IMO, about 30% of the manipulation is from the company itself, 35% from hedge funds that have an ear to the ground and know how unstabile this company is and when empty promises are likely to be coming forth, and then 35% or so is from the companies and legal entities that the company has dealings with.
They all work through their respective brokers or direct trading set-ups which trade through the likes of CINN and EDGX MMs to get the highest pumped up sell prices after they know a nice rumor is going to be put out so shills on the message boards will pass it around to get the price up for them. The shills will protect the company by trying to disuade any of the concerning information to be seriously discussed at any length so that new investors might be cautious. Once the get the price up as high as that piece of supposedly good news can get it pumped up to, the company gets real quiet so the frustration will begin setting in on the retail buyers that just bought many of their (and the cohorts attached to them) shares at those newly inflated prices. Remember they are inflated because those prices were based on a "Rumor" or a "Promise that Peter has something good he is about inform the investors about", LOL.
Once the retail traders (guppies, as some would label them) start to give up, the brokers working for #'s 1, 2 and 3 start phase two of the manipulation: 1) company diluting and/or 2) an attached entity dumping their shares obtained from the company in pay-offs and always 3) hedgies dumping from a previous frontload or just outright shorting. The hedgies (that the company states they cannot stand) can do this at free will and to the extremes, because they know the company's game of not being dependable, and Peter continues to privide them with ample ammunition to undermine the stock).
The brokers of manipulators 1, 2 & 3 hit the stock with upteen numbers of shares to drive it down, so they can then start the next cycle with the next Rumor or Promise from Peter. This goes on and on until the confidence erodes so much that they cannot get much of a move or until the company runs into a negative force field like being pulled from the exchange. At this point the company decides to just do another RS so that they have a whole new inflated price to begin diluting into again.
So Yes, Major manipulation and Dilution it is.
Charts are always correct, except on dilution and/or blatant manipulation like this.
Nice that you have finally come over to my way of thinking. The only thing you are still missing is how much Peter facilitates their ability to move it down when they want.
I have learned that these sellers can pressure it way down into the 20's when they want to, and they will likely try it again.
However, I wanted to load a few in case some positive development occurred before they got it down as low as they want it.
It all depends on whether Peter decides to provide THEM with more ammunition to short this POS, or he might find a way to provide some positive developments for long shareholders.
In it either way, LOL
Bought half back at .32.
Will wait until next week to see if I'm ready to re-load the rest.
I was thinking the same thing:
Hammer will be good to see here today.
What? Where do you get $28 mill?
From the 10Q:
The Company reported an increase in stockholder equity to $14,632,642
Good Job
Glad I got out when I did. Kept what profits I had and prevented myself from going into any losses again.
There is the dip, BUYING more now
SAPX dip will be bought, watch...
Bought more and will be adding BIG shortly
Sold all my shares at .46 to .48.
That 10Q is disgusting after all the hype that Peter kept telling shareholders.
Kind of what I expected, but was hoping he had SOMETHING promising. Too bad that he did not have anything hopeful in there other than an increase in shareholder's equity, which will be manipulated out from under us with the way Peter manipulates this stock and dilutes the hell out of shareholders.
You have a point, but when you tell yourself that if the fundamentals don't pan out, that is when you sell. Then you get a feeling from the CC that the management is not staying on top of things, you kind of feel a need to re-eveluate how strong the fundamentals really are and whether or not they will be able to start making a profit or not in the next quarter or two. After that mess of a CC, I got the feeling this would languish for another 6 months and likely sit at .30 until next June. Prospects like those made me reconsider whether or not it was wise to leave all my funds tied up here for so long.
Anyway, it is done, just left an extremely bad taste in my mouth with a company I was very happy to be accumulating and investing in more long-term than a swing trade like most companies end up being because of their lack of follow-through. I am not impressed with the management here and their inability to communicate or even find a quick CORRECT answer to a mistake about which investors have questions.
Well, I cannot communicate any more for a while because to top all this mess off, my computer picked up another virus or something from searching all over Yahoo for answers to this issue. I really think those Yahoo message boards are loaded with viruses. Every time I spend much time at all on the Yahoo message boards, I get viruses that disable my computer, Darn it!!! Horrible day all around with this stock and another stock I have been in that I should have known to stay away from.
At least I have had a nice few weeks with PEIX.
Just that it sure looks like proof that Peter Hoffman is a talented scam artist.
You could tell that if you just looked at the chart for SAPX. Continual downward trend with a couple of well-manipulated Pump and Dumps, followed by continual share dilution, to be followed by a RS so that they are then set up to start the cycle all over again.
Yeah, but the most irritating thing here is this was NOT due to daytraders' tips. This was the company being either incompetant or malicious - that really gets to me.
I am NOT happy with what has transpired regarding the reporting of a loss in the 10Q when it was actually a $645,000 gain. What is even more upsetting is that I even listened to the CC expecting them to address this issue because I knew from the Yahoo boards that the company had been notified about the error. Finally, after several questions, someone (from Zach's, I believe) seems to try to get the mistake addressed, but the company stands by it and leads the investors to believe that it is correct and that they have a loss.
So, yes, I considered this, paired with a delay for an undetermined amount of time on drilling at one of the sites that they were supposed to be in progress on, a strong enough disappointment to decide to sell my shares, all of them, for the very first time.
I figured I would keep an eye on the company and buy back once things stabilized.
Now, a day later, the company comes out with a correction showing that it was not a loss, but a gain - a BIG difference to investors who are watching the developments closely here. So now, that stock appreciates well above the high of the day for their erroneus 10Q, and invetors are supposed to be OK with that??? That is just ridiculous - some heads need to roll and investors need to be made right.
They had a couple of HOURS before the CC to review this error and make sure that they could correct it for shareholders who were listening in to find out what had happened, and they covered it over - totally inappropriate, IMO.
All out at 1.78. Great trade!!! Thanks everybody!!!!! It's been fun, will be back in on a pullback.
Yeah, I sure was wrong, and you sure were right!
I'm just glad I have a policy of keeping a core position.
I just wish I had not been so stubborn and had bought my traders back at .54, LOL
Man-O-Man, this just keeps getting BETTER!
WHOAH! Pre-market ask at .20? I certainly did NOT expect that to happen.
Of course, they won't sell them to you at that price, so it is just a FAKE ask.
GREAT! It is about time someone did this. I wonder if the US will ever get the guts to do something like it.
Man, THAT would be a kick!
What makes you think that can happen?
I'm hoping you are correct.
Keep hoping, but I do not think this company has it together that much. Maybe some day.
I have been very eager to see this report but I guess we shall wait. For how long, I have no idea, but I hope not they can get it out before Thanksgiving.
Keeping my fingers crossed, but not holding my breath, LOL.
However, I do believe there must be a mistake on that filing even. On it, the form says:
Form10-Q for the period ended September 30, 2010, could not be filed
NOTIFICATION OF LATE FILING
For Period Ended: September 30, 2011
Oh MY! Has everyone seen the filing: Form NT 10-Q Notification of Late Filing of the 10Q?
I have been wondering when we were going to get the 10Q filed? Been anxiously awaiting the information therin.
I even called Peter's office a week ago to find out when they were going to report, but Peter was not in. I asked Linda (the receptionist) and she seemed a little perplexed that they needed to get this filed soon.
I was very concerned at that point.
I find it very interesting that they cannot get this together enough to get their first earnings report filed on time.
Here are the reasons in the filing:
The Report on Form10-Q for the period ended September 30, 2010, could not be filed without unreasonable effort or expense within the prescribed period due to the responses to auditor inquiries as a result of which our other internal accounting staff and outside independent auditors require additional time to conclude their preparation and review, respectively, of our financial statements and notes thereto for the current period. We will also need additional time to prepare the related Item 2 disclosure of Management's Discussion and Analysis of Financial Condition and Results of Operations.
Ho-Hum, anything interesting happening here?
Took a break from the excitement from my PEI* to take a look over here,
So, how much longer before you think we might be able to get as excited about SAPX over here?
Man-O-Man, this is NICE!
Went out for the best lunch I've had in a long time and then I come back to this. I can afford quite a few more nice lunches now, LOL
Great job to all those who are making money here, whether trading it or long and strong, this is a nice money maker.
I'm in. Will be buying more later if the run doesn't go tomorrow.
Cash flow positive, Negligible loss, and EBITDA positive!
I'd say that earns some share price appreciation for sure!
Oh, wow! If you are serious, I sure wish you all the luck but most traders would wait for some bit of an up move before dumping so much so that there might be some volume to accumulate such a high number.
I still find it hard to immagine that you and your group accumulated that much. I sure hope for your sake, that is not true. You must have noticed something had to be wacky with the company's purported plan with you owning that much when the company was saying there were only 6.4 million shares outstanding. ,?!?!?
I just read your update that it was 500,000, not 1 million. Still a whole hell of a lot!!!!!!
Oh, so you own 1/12th of the company eh?, LOL
Me thinks you must be jacking with the board here.
Yesterday's HOD was .736.
I would believe that IF and When we did not get a huge increase in the OS count every time we get an update from the company. But with them increasing the OS ad nauseum, the only conclusion one can draw is that it is THE COMPANY that keeps dumping on us shareholders.
So, Are Peter and his brokers gonna grace us with another huge dump at the market close today? Let's see what she does?
Does anyone here have a suggestion for the best site to visit on which to get accurate updated institutional holdings in a stock?
If so; How often is the site updated? or how current is the information on the site usually?
The hour is not over for another 45 minutes. Amateurs will bite for a while and then it relaxes. Give it time.
So far I have not called it right, and I only have my small core position. Was waiting in the low 50's for reloading my trading shares and did not get them. However, I'm thinking he is correct about this post amateur hour dip.
I think we do have a good chance of going into the 80's today.
Pgm,
My handle on Yahoo is also SBC357, but I only posted to you once, about three months ago. I had been reading your updates for several months and figured out that I could still log on at Yahoo, so I posted you a thank you and wanted to let you know that there are others out there that read and depend on your posts, but often do not post much themselves.
I post a little more over here on IHub. Not a whole lot, but some. I get concerned about posting on yahoo (and clicking on links at Yahoo) because I have gotten viruses from the yahoo boards three times now, and it has cost me a lot in computer repairs. In fact, within two weeks of posting to you a few months ago, I came down with another computer virus, LOL.
So for communication, I do more on IHub, and some on TheLion boards. I am sooooo glad to have you posting here where I might decide to ask a question or two, and not have to then nurse my computer back to health to do it, LOL.
Hey pgm,
Are you the pgm1272 on the Yahoo boards?
I am so happy to see you here. It is much easier for me to communicate with you on this MB sice I do not visit Yahoo much, other than to read the daily DEJ posts, especially yours.
I am still in DEJ, and waiting. I had hoped to accumulate 100,000 shares or more before earnings, but another trade I got stuck in has not gone as expected and has cost me about 30,000 shares of my DEJ.
Anyway, I am still sitting with quite a few shares here and ready to enjoy the continued share price appreciation.