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I am not giving up Yet
and I am Cautiously Optimistic.
You ask:
All you suppossed people supporting this, could you please explain to me where the pdrexchange.com went?
Read the PNMS Blogs
http://blog.panamersa.net/
Volume 20,363,667
EOM
Not me
News for 'MONA' - (MonArc Corporation (MONA) Announces Details Regarding Cash Dividend)
BEIJING, Nov 19, 2008 /PRNewswire-FirstCall via COMTEX/ -- Mon Arc Corporation
(http://www.monacorporation.com) PINKSHEETS: MONA.PK (http://mona.pk/) is
pleased to provide details regarding the cash dividend previously announced.
The dividend of $0.20 per share will be paid on December 1, 2008. The dividend
will be distributed to shareholders who have continuously held company stock
since September 30, 2005 (the record date).
The company will provide further updates as they become available. The company
also expects to make a series of other dividend payments in the last quarter of
this year. Details on these dividends will be announced very shortly, and
through a separate news release.
Safe Harbour statement under the Private Securities Litigation Reform Act of
1995: Certain information contained in this release contains forward-looking
statements that involve risk and uncertainties, including but not limited to,
those relating to development and expansion activities, domestic and global
conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders
informed, and news is updated frequently via Press Releases, Pink Sheet
(www.pinksheets.com) filings, and updates to our websites. Other websites not
sponsored, or recognized by the Company may provide misleading or disinformation
to investors in order to manipulate trading patterns for a given stock. Always
look for original content from trusted sources, rather than relying on
'excerpts' or discussion boards that may not give you the whole story. The
Securities and Exchange Commission requires financial institutions or brokerage
firms to provide their clients with documentation, describing the risks of
investing in penny stocks.
CONTACT: For corporate matters contact: corporate@monacorporation.com
CONTACT: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)
The MM's can cross-trade among themselves
to show weakness and induce selling, or they can cross-trade to show strength to induce buying . They control all OTCBB and OTC stocks because there is no supervision in by the SEC .
It is likely there is a substantial short ( NSS ) position in MONA so the (Honest) MM's will do whatever they want to the stock price until material news compels them to take the PPS up .
The best remedy, buy the dips to counteract the MM manipulation so when their colluded plan backfires it will compel them to raise the B/A .
Nov. 17 a series of dividend payments previously announced very shortly as well.
BEIJING, Nov. 17 /PRNewswire-FirstCall/ -- Mon Arc Corporation http://www.monacorporation.com/ PINKSHEETS: MONA.PK is pleased to announce that it has completed its due diligence on the Peru mining project and that it is in the final stages of finalizing the transaction with the principals of the Peru mining project. The company will issue various due diligence reports and its findings via filings on pink Sheets on this project to its shareholders and followers. This will also be followed up with a new web site that is entirely mining based.
The company expects to close this transaction within the next 7-10 days and does not foresee any delays or complications.
Mr.Yves Yang a spokesperson with the company said as previously announced "We continue discussions with an already established mining company who continues to express serious interest in our new Peruvian mine venture. Talks are also on going with a Chinese educational school for the PP365.Com assets. We remain focused and are moving on both fronts with both of these deals, meaning sale of assets of PP365 and merger with the Peruvian mining company. Realistically speaking it is quite possible that both of these transactions may very well come to fruition by the end of this quarter"
The company will provide further updates as they become available. The company also expects to make a series of dividend payments previously announced very shortly as well.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet http://www.pinksheets.com/ filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
CONTACT: For corporate matters contact:
DATASOURCE: MonArc Corporation (MONA)
CONTACT: For corporate matters contact:
<< Back
OK Thanks
Wait and see is all we can do.
Insiders Buy Link
http://www.insidercow.com/
Insiders bought 1.2 million shares Thursday
09:24 am Citigroup (C)
The job cuts keep coming in the financial services industry.
Beginning this week, Citigroup (C 9.45) will start cutting 10,000 global employees in its investment bank and other divisions, or 2.8% of its 352,000 work force, The Wall Street Journal reported, citing sources.
Citi has already cut 23,000 jobs in the last four quarters, with a goal to bring Citi's work force down to 290,000 by next year, according to one of the Journal's sources.
In an additional effort to return to profitability, Citi plans to raise interest rates on millions of its 54 million credit card customers.
Citigroup has been one of the hardest hit financial firms since the credit market turmoil began, with $68.1 billion in write-downs and credit losses, resulting in its stock price plummeting 80%.
Top Citi executives believe they will be able to turn around the company -- The Wall Street Journal reported that executives bought 1.2 million shares Thursday when the stock fell to $8.27 per share, its lowest level since the 1990s.
I hope Pedro is traveling
To meet MT and get the final details as he stated in the last Blog. It would seem to me this should be Pedro's first priority to clear this up for all parties involved.
Thursday, November 13, 2008
Traveling
Good Morning Panamericans:
Please be advised that I will be traveling from Thursday until Monday and I will be available again to communicate with you this Tuesday, November 18th, 2008.
Best regards Pan Americans,
Pedro Borges Fiol
Founder-Protector
FUNDAPAN
- PAN NEWS Network -
posted by Panamersa at 8:08 AM
AIG Elects Dennis D. Dammerman to Board of Directors
Wednesday November 12, 4:31 pm ET
NEW YORK--(BUSINESS WIRE)--The Board of Directors of American International Group, Inc. (AIG) has elected Dennis D. Dammerman a Director.
Mr. Dammerman is currently Chairman of the Board of Directors of Discover Financial Services, Lead Director of Capmark Financial Group Inc. and a Director of BlackRock, Inc. He retired in 2005 as GE Vice Chairman of the Board and Executive Officer, and a member of the Corporate Executive Office.
ADVERTISEMENT
Mr. Dammerman’s retirement followed a 38-year career at GE. He had served on the GE Board of Directors since 1994, as Chairman and Chief Executive Officer of GE Capital Services since 1998, and as a Director of GE Capital Services for 16 years. He joined General Electric in 1967 in the financial management program in GE Appliances. He held a succession of financial management and business leadership positions before being named Chief Financial Officer of GE in 1984.
In 1994, Mr. Dammerman was named Chairman and Chief Executive Officer of Kidder, Peabody Group, Inc., retaining his position as GE Chief Financial Officer. He returned full time to his position as Chief Financial Officer of GE in 1995 when Kidder Peabody was sold to PaineWebber.
“Dennis Dammerman is a distinguished and respected executive who brings to the AIG Board a singular record of experience in financial management and financial services,” said Edward J. Liddy, AIG Chairman and Chief Executive Officer. “I am delighted that he has agreed to join the Board of AIG at this crucial time, and I look forward to the benefit of his wise counsel.”
Mr. Dammerman graduated from the University of Dubuque and is currently a Trustee of Skidmore College and the New York Racing Association.
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
Contact:
American International Group, Inc.
Joe Norton, 212-770-3144
Director of Public Relations
The Gov bought AIG toxic assets, Good Deal
After buying the toxic assets from AIG this week, Gov the Fed has changed the program and will not be buying any more, just the AIG deal, This is good news for AIG and we shareholders.
Also this PR Yesterday may be a sign that something behind the scenes is going on with Large AIG Shareholders and the Government.
Large AIG holders keen for government to scale back stake
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33496628
WASHINGTON -- Secretary Henry Paulson said the Treasu ry has put a plan to purchase illiquid mortgage-related assets on hold.
Meanwhile, the Treasury Department, signaling a new p hase in its $700 billion financial-rescue plan, is cons idering requiring that firms seeking future government money raise private capital in order to qualify for pub lic assistance, according to people familiar with the m atter.
The move isn't expected to apply to the existing $250 billion capital-purchase program, which is already inj ecting money into banks. But Treasury is considering at taching such conditions to any of its future capital in vestments, these people said.
Associated Press
Treasury Secretary Henry Paulson calls on a reporter during a news conference Wednesday.
"We are carefully evaluating programs which would fur ther leverage the impact of a TARP investment by attrac ting private capital, potentially through matching inve stments," Treasury Secretary Henry Paulson said in a br oad speech on the Troubled Asset Relief Program, known as TARP, the global credit crunch and the government's recent steps to address the financial meltdown. "In dev eloping a potential matching program; broadening access in this way would bring both benefits and challenges."
At the same time, Treasury is unlikely to conduct any auctions to purchase bad loans and other troubled asse ts -- the original intention of the $700 billion rescue plan. Instead, Treasury is expected to continue focusi ng its firepower on injecting capital directly into the financial sector, these people said.
"Our assessment at this time is that this is not the most effective way to use TARP funds, but we will conti nue to examine whether targeted forms of asset purchase can play a useful role, relative to other potential us es of TARP resources, in helping to strengthen our fina ncial system and support lending," he said, according t o his prepared remarks.
House Financial Services Chairman Barney Frank (D., M ass.) said that Treasury disagreed with the plan to put asset purchases on hold. "We have a need to use that f unding" for that purpose, Mr. Frank said at a hearing o n Capitol Hill. Mr. Frank noted that Congress gave Trea sury explicit authority to buy up mortgage-backed secur ities and whole mortgage loans as part of TARP.
Treasury has just $60 billion left in its rescue fund , and either the current or next administration will ha ve to turn to Congress to request the second half of th e promised $700 billion. Treasury has so far committed $250 billion to banks and is spending an additional $40 billion to buy preferred shares in American Internatio nal Group Inc., the big insurer.
View Full Image
Landov
Neel Kashkari runs the Treasury's TARP program, which is unlikely to conduct any auctions to purchase bad lo ans and other troubled assets -- the original intention of the $700 billion financial-industry rescue plan.
Treasury is expected to widen its program to inject c apital into smaller, closely held banks, and is conside ring expanding its rescue to other nonbank financial in stitutions, such as insurers and specialty-finance comp anies. It may also do another round of financing for pu blicly traded banks. In addition, Treasury is under inc reasing pressure from Democrats in Congress to open the program to the ailing auto sector.
In another step, U.S. bank regulators could announce guidelines this week designed to encourage U.S. banks t o remain active lenders as financial markets are squeez ed. Many U.S. companies and individuals have become dep endent on bank credit lines as financial markets have t ightened up. The regulatory guidelines could also addre ss sensitive issues of bank dividend payments and execu tive pay.
Paulson says troubled assets will not be purchased
Wednesday November 12, 11:23 am ET
By Martin Crutsinger, AP Economics Writer
Paulson: bailout program won't purchase troubled assets; focus remains on financial markets
WASHINGTON (AP) -- Treasury Secretary Henry Paulson said Wednesday the $700 billion government rescue program will not be used to purchase troubled assets as originally planned.
Paulson said the administration will continue to use $250 billion of the program to purchase stock in banks as a way to bolster their balance sheets and encourage them to resume more normal lending.
ADVERTISEMENT
He announced a new goal for the program to support financial markets, which supply consumer credit in such areas as credit card debt, auto loans and student loans.
Paulson said that 40 percent of U.S. consumer credit is provided through selling securities that are backed by pools of auto loans and other such debt. He said these markets need support.
"This market, which is vital for lending and growth, has for all practical purposes ground to a halt," Paulson said.
The administration decided that using billions of dollars to buy troubled assets of financial institutions at the current time was "not the most effective way" to use the $700 billion bailout package, he said.
The announcement marked a major shift for the administration which had talked only about purchasing troubled assets as it lobbied Congress to pass the massive bailout bill.
Paulson said the administration is exploring other options, including injecting more capital into banks on a matching basis, in which government funds would be supplied to banks that were able to raise capital on their own.
AIG Short interest on the New York Stock Exchange fell 0.9
percent in late October, the exchange said on Tuesday. For story please see Nov 11 (Reuters) -
[ID:nWNA9081].
Below are the five NYSE stocks that experienced the largest increases and
decreases in their short positions from mid-October to late October, according
to information released by the exchange.
The five companies with the largest overall short positions are also
listed.
The latest data is as of Oct. 31, while the previous period's data is as of
Oct. 15.
COMPANY OCT 31 OCT 15 NET CHANGE PCT CHANGE
------------------------------------------------------------------------------
FIVE BIGGEST INCREASES:
AIG (AIG.N: Quote, Profile, Research, Stock Buzz) 135,664,651 93,650,951 42,013,700 44.9
Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) 138,025,457 116,765,920 21,259,537 18.2
Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) 44,033,719 23,863,914 20,169,805 84.5
Wells Fargo & Co (WFC.N: Quote, Profile, Research, Stock Buzz) 151,395,003 132,089,142 19,305,861 14.6
Alcoa Inc (AA.N: Quote, Profile, Research, Stock Buzz) 38,207,875 19,050,106 19,157,769 100.6
FIVE BIGGEST DECREASES:
National City (NCC.N: Quote, Profile, Research, Stock Buzz) 32,937,779 62,263,634 -29,325,855 -47.1
Wachovia Corp (WB.N: Quote, Profile, Research, Stock Buzz) 72,780,430 91,038,382 -18,257,952 -20.1
Coeur d'Alene (CDE.N: Quote, Profile, Research, Stock Buzz) 54,304,431 71,889,664 -17,585,233 -24.5
Sprint Nextel (S.N: Quote, Profile, Research, Stock Buzz) 76,815,406 93,144,960 -16,329,554 -17.5
Masco Corp (MAS.N: Quote, Profile, Research, Stock Buzz) 21,931,404 36,355,887 -14,424,483 -39.7
FIVE BIGGEST POSITIONS:
Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) 306,214,568 295,094,794 11,119,774 3.8
Wells Fargo & Co (WFC.N: Quote, Profile, Research, Stock Buzz) 151,395,003 132,089,142 19,305,861 14.6
Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) 138,025,457 116,765,920 21,259,537 18.2
AIG (AIG.N: Quote, Profile, Research, Stock Buzz) 135,664,651 93,650,951 42,013,700 44.9
General Motors (GM.N: Quote, Profile, Research, Stock Buzz) 102,575,682 93,598,425 8,977,257 9.6
Source: NYSE data as of Oct. 31, Reuters Estimates
(Compiled by Emily Chasan)
Short interest on the New York Stock Exchange fell 0.9
percent in late October, the exchange said on Tuesday. For story please see Nov 11 (Reuters) -
[ID:nWNA9081].
Below are the five NYSE stocks that experienced the largest increases and
decreases in their short positions from mid-October to late October, according
to information released by the exchange.
The five companies with the largest overall short positions are also
listed.
The latest data is as of Oct. 31, while the previous period's data is as of
Oct. 15.
COMPANY OCT 31 OCT 15 NET CHANGE PCT CHANGE
------------------------------------------------------------------------------
FIVE BIGGEST INCREASES:
AIG (AIG.N: Quote, Profile, Research, Stock Buzz) 135,664,651 93,650,951 42,013,700 44.9
Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) 138,025,457 116,765,920 21,259,537 18.2
Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) 44,033,719 23,863,914 20,169,805 84.5
Wells Fargo & Co (WFC.N: Quote, Profile, Research, Stock Buzz) 151,395,003 132,089,142 19,305,861 14.6
Alcoa Inc (AA.N: Quote, Profile, Research, Stock Buzz) 38,207,875 19,050,106 19,157,769 100.6
FIVE BIGGEST DECREASES:
National City (NCC.N: Quote, Profile, Research, Stock Buzz) 32,937,779 62,263,634 -29,325,855 -47.1
Wachovia Corp (WB.N: Quote, Profile, Research, Stock Buzz) 72,780,430 91,038,382 -18,257,952 -20.1
Coeur d'Alene (CDE.N: Quote, Profile, Research, Stock Buzz) 54,304,431 71,889,664 -17,585,233 -24.5
Sprint Nextel (S.N: Quote, Profile, Research, Stock Buzz) 76,815,406 93,144,960 -16,329,554 -17.5
Masco Corp (MAS.N: Quote, Profile, Research, Stock Buzz) 21,931,404 36,355,887 -14,424,483 -39.7
FIVE BIGGEST POSITIONS:
Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) 306,214,568 295,094,794 11,119,774 3.8
Wells Fargo & Co (WFC.N: Quote, Profile, Research, Stock Buzz) 151,395,003 132,089,142 19,305,861 14.6
Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) 138,025,457 116,765,920 21,259,537 18.2
AIG (AIG.N: Quote, Profile, Research, Stock Buzz) 135,664,651 93,650,951 42,013,700 44.9
General Motors (GM.N: Quote, Profile, Research, Stock Buzz) 102,575,682 93,598,425 8,977,257 9.6
Source: NYSE data as of Oct. 31, Reuters Estimates
(Compiled by Emily Chasan)
AIG CEO Liddy on Larry King Live tonight
http://www.cnn.com/CNN/Programs/larry.king.live/
Large AIG holders keen for government to scale back stake
"Kantor, a former U.S. Secretary of Commerce in the Clinton administration, is working with 21 AIG shareholders, including money managers Dodge & Cox, Legg Mason Inc (LM.N: Quote, Profile, Research, Stock Buzz), the $125 billion New York State Common fund, and Eli Broad, a large individual shareholder and former director of AIG."
Large AIG holders keen for government to scale back stake
Tue Nov 11, 2008 3:20pm EST
NEW YORK (Reuters) - Some of AIG's largest shareholders are working to convince federal officials to scale back U.S. ownership of the giant insurer as private investors step forward to inject capital, a lawyer representing investors said on Tuesday.
Mickey Kantor, a partner with Mayer Brown based in Washington D.C., said the U.S. Treasury and Federal Reserve had taken a "step forward, and deserve a tremendous amount of praise" for a deal reached on Monday that revised a September rescue of American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) as it neared bankruptcy.
The shareholders Kantor represents had been pushing for revisions since the federal government stepped in to inject $85 billion in emergency funds on September 16 in exchange for a nearly 80 percent stake.
"We believe one more step should be taken, and that is to allow private capital back into the firm," Kantor told Reuters in a telephone interview.
"That would mean the Fed and Treasury would negotiate some sort of agreement. To the extent that private capital is raised, they lower the percentage of AIG held by the federal government. That is what we are working toward."
The U.S. Treasury and Federal Reserve on Monday agreed to invest $150 billion in AIG, including $40 billion for preferred shares paying a 10 percent dividend, and $60 billion under a 5-year credit facility with a lower interest rate than the earlier agreement. Another $50 billion would be used to buy toxic mortgage assets, including those underlying AIG credit default swaps which have cost it billions of dollars in losses.
AIG shareholders have been heavily diluted by the federal rescue since it gave the United States majority ownership.
Kantor, a former U.S. Secretary of Commerce in the Clinton administration, is working with 21 AIG shareholders, including money managers Dodge & Cox, Legg Mason Inc (LM.N: Quote, Profile, Research, Stock Buzz), the $125 billion New York State Common fund, and Eli Broad, a large individual shareholder and former director of AIG.
(Reporting by Lilla Zuill, additional reporting by Joan Gralla, editing by Richard Chang)
CEO Liddy on Larry King Live tonight
http://www.cnn.com/CNN/Programs/larry.king.live/
Large AIG holders keen for government to scale back stake
"Kantor, a former U.S. Secretary of Commerce in the Clinton administration, is working with 21 AIG shareholders, including money managers Dodge & Cox, Legg Mason Inc (LM.N: Quote, Profile, Research, Stock Buzz), the $125 billion New York State Common fund, and Eli Broad, a large individual shareholder and former director of AIG."
Large AIG holders keen for government to scale back stake
Tue Nov 11, 2008 3:20pm EST
NEW YORK (Reuters) - Some of AIG's largest shareholders are working to convince federal officials to scale back U.S. ownership of the giant insurer as private investors step forward to inject capital, a lawyer representing investors said on Tuesday.
Mickey Kantor, a partner with Mayer Brown based in Washington D.C., said the U.S. Treasury and Federal Reserve had taken a "step forward, and deserve a tremendous amount of praise" for a deal reached on Monday that revised a September rescue of American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) as it neared bankruptcy.
The shareholders Kantor represents had been pushing for revisions since the federal government stepped in to inject $85 billion in emergency funds on September 16 in exchange for a nearly 80 percent stake.
"We believe one more step should be taken, and that is to allow private capital back into the firm," Kantor told Reuters in a telephone interview.
"That would mean the Fed and Treasury would negotiate some sort of agreement. To the extent that private capital is raised, they lower the percentage of AIG held by the federal government. That is what we are working toward."
The U.S. Treasury and Federal Reserve on Monday agreed to invest $150 billion in AIG, including $40 billion for preferred shares paying a 10 percent dividend, and $60 billion under a 5-year credit facility with a lower interest rate than the earlier agreement. Another $50 billion would be used to buy toxic mortgage assets, including those underlying AIG credit default swaps which have cost it billions of dollars in losses.
AIG shareholders have been heavily diluted by the federal rescue since it gave the United States majority ownership.
Kantor, a former U.S. Secretary of Commerce in the Clinton administration, is working with 21 AIG shareholders, including money managers Dodge & Cox, Legg Mason Inc (LM.N: Quote, Profile, Research, Stock Buzz), the $125 billion New York State Common fund, and Eli Broad, a large individual shareholder and former director of AIG.
(Reporting by Lilla Zuill, additional reporting by Joan Gralla, editing by Richard Chang)
TradingMarkets 7 Stocks You Need to Know for Wednesday
Tuesday November 11, 3:37 pm ET
By TradingMarkets Research
Stocks continued to move lower on Tuesday following Friday's bump higher. The Dow, Nasdaq and S&P 500 have closed down for four out of the past five trading days.
The Dow lost 176.58. The Nasdaq Composite closed lower by 35.84. And the S&P 500 ended the day down 20.26.
ADVERTISEMENT
Here are 7 Stocks You Need to Know for Wednesday
American Express (NYSE:AXP - News) successfully petitioned the Federal Reserve to become a bank, following the lead of investment banks Goldman Sachs and Morgan Stanley. The Short Term PowerRating for AXP is 5.
Macy's (NYSE:M - News) is expected to announce a quarterly EPS loss of 0.19 Wednesday morning before the markets open. The Short Term PowerRating for M is 5.
Citigroup (NYSE:C - News) announced that it would suspend foreclosures and modify mortgages to make it easier for many homeowners to keep their homes. The Short Term PowerRating for C is 5.
Applied Materials (NasdaqGS:AMAT - News) will report quarterly earnings Wednesday after the market closes. Analysts are expecting EPS of 0.14. The Short Term PowerRating for AMAT is 6.
Additional quarterly losses for American International Group (NYSE:AIG - News) mean that insurance giant's taxpayer bailout will nearly double to $150 billion. The Short Term PowerRating for AIG is 3.
The cash crunch at General Motors (NYSE:GM - News) has increasingly drawn the attention of lawmakers as the automaker slides closer to bankruptcy. The Short Term PowerRating for GM is 7.
Fears of weaker PC demand led to selling in shares of Intel (NasdaqGS:INTC - News) on Tuesday. The lowered earnings and share price projections come at a time of traditionally strong seasonality for technology stocks. The Short Term PowerRating for INTC is 5.
Do you think Intel will be Up or Down on Thursday? Go to TradingMarkets.com to play the TradingMarkets' Up or Down Stock Contest for your chance to win $1,000 a month by correctly guessing the direction of a stock!
imshredin2 case in point
your return post to another poster who distorts News.
"It seems people are looking so hard for a villin to blame all this crisis on they don't really care what the facts are."
**********************************************************
Your Post
Let's get the facts straight. They were LOANED the money at 14% (nice return for the Gov) with 2 years to sell off parts of their 1.2 Trillion in assets to repay the loan. They weren't mortgage loan makers as much as they just invested in the paper. This new deal gives them a 6% rate and 5 years to pay it back. That takes the pressure off selling at fire sale prices. They are getting Loans because they have the very real ability to pay them back. The majority business of AIG is insurance and that division is doing great and is profitable. The bad PR is due to the business as usual attitude at the insurance unit that is not the root of the problem so they don't think they should change how they do business. If you don't take care of the people (agents,sales mgrs, etc) that bring in the business they might take it some where else.
American International Group Inc. Q3 2008 Earnings Call Transcript
November 10, 2008...10 pages:
http://seekingalpha.com/article/105101-american-international-group-inc-q3-2008-earnings-call-transcript
AIG Responds to Misleading News Reports
Edward M. Liddy, Chairman and Chief Executive Officer of American International Group, has issued the following statement: “Recent news reports have grossly mischaracterized an American International Group seminar for 150 independent financial planners held in Phoenix last week.
The financial planners are not AIG employees. In addition, the cost to AIG for this event was minimal. More than 90 percent of the costs were paid either by sponsors or by the independent financial planners themselves.
It is essential for AIG to conduct seminars of this kind to keep independent financial planners abreast of investment products and services including those offered by AIG. The financial planners are responsible for generating almost $200 million in revenue this year for AIG as of September 30th.
On October 10, I issued a directive to all AIG employees and subsidiaries to reduce expenses and conserve cash, including cancelling all nonessential conferences or meetings, unnecessary travel and excessive overhead. Since then, we have canceled more than 160 events. We conducted a top-to-bottom review of all expenses of the Phoenix meeting in advance and found that it was consistent with my October 10th directive. This conference was approved because it provides the kind of communication we must conduct with the people who sell our products if we are to be successful and repay the U.S. taxpayer.” American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
<< Back
AIG Responds to Misleading News Reports
Edward M. Liddy, Chairman and Chief Executive Officer of American International Group, has issued the following statement: “Recent news reports have grossly mischaracterized an American International Group seminar for 150 independent financial planners held in Phoenix last week.
The financial planners are not AIG employees. In addition, the cost to AIG for this event was minimal. More than 90 percent of the costs were paid either by sponsors or by the independent financial planners themselves.
It is essential for AIG to conduct seminars of this kind to keep independent financial planners abreast of investment products and services including those offered by AIG. The financial planners are responsible for generating almost $200 million in revenue this year for AIG as of September 30th.
On October 10, I issued a directive to all AIG employees and subsidiaries to reduce expenses and conserve cash, including cancelling all nonessential conferences or meetings, unnecessary travel and excessive overhead. Since then, we have canceled more than 160 events. We conducted a top-to-bottom review of all expenses of the Phoenix meeting in advance and found that it was consistent with my October 10th directive. This conference was approved because it provides the kind of communication we must conduct with the people who sell our products if we are to be successful and repay the U.S. taxpayer.” American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
<< Back
S&P Maintains Hold and Targets $3.50
11-Nov-08 09:48 am
November 10, 2008
07:48 am ET ... S&P KEEPS HOLD RECOMMENDATION ON SHAR ES OF
AMERICAN INTERNATIONAL GROUP (AIG 2.11***): Q3 operat ing loss of $3.42 vs.
operating EPS of $1.35 is worse than our estimate. AI G also unveils revised
Treasury bailout plan. Most significant, in our view, is increased commitment to
some $150B (including purchase of $40B preferred shs) , a lower interest rate
(LIBOR + 3% vs. LIBOR + 8.5%) and a longer loan term (5 vs. 2 years). While
execution risk remains, we view these terms as more m anageable.We widen our
'08 operating loss estimate to $7.15 from $2.07. Our $3.50 target price assumes
AIG stays discounted to historical metrics.We note 9/ 30/08 book of $26.46/share.
/C.Seifert
Sentiment : Hold
$637,174 Net Profit
q3 financials - quarterly report received 10/10/08
http://pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=18158
Call Congress
Talk to Senators Barney Frank, and Chris Dodd they caused this.
Enough said.
AIG at a Glance
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
We have a winner
break the 50 day ma and watch out
Value or Value Trap? Fed Liquidity Will Ultimately Reignite Banks, Herro Says
Posted Nov 10, 2008 07:00am EST by Aaron Task in Investing, Recession, Banking
Related: UBS, CS, XLF, JPM, BAC, C, WFC
The Fed risks falling into a "liquidity trap" if it continues to slash rates and take other extraordinary steps to quell the financial crisis, says David Herro, who oversees about $11 billion as chief international officer of Harris Associates.
A a liquidity trap occurs when policymakers are unable to stimulate economic activity as banks, businesses and consumers hoard cash rather than lending, borrowing or investing capital.
Herro does not believe this worst-case scenario will come to pass, arguing the "dry straw" in the markets will eventually "catch fire," although the timing is uncertain. (In this analogy, all the Fed's liquidity is the lighter fluid.)
One of the most acclaimed value investors on Wall Street - Smart Money named him one of the "World's Greatest Investors" last summer - Herro's fortunes have fallen more recently: The $3.8 billion Oakmark International fund he manages is down 25% year to date, in large part because of holdings in European banks like Credit Suisse and UBS.
In the accompanying video, I asked Herro for his updated views on those banks, which he still own. The fund manager is much more upbeat about prospects for Credit Suisse, which has emerged relatively unscathed from the financial crisis, and generally downbeat about banks that now have big government ownership.
Good for City Group China Stimulus plan
China announces $586 billion stimulus plan
Sunday November 9, 2:15 pm ET
By Scott Mcdonald, Associated Press Writer
China unveils $586 billion stimulus plan to fight effects of global meltdown
BEIJING (AP) -- China unveiled a $586 billion stimulus package Sunday in its biggest move to inoculate the world's fourth-largest economy against the global financial crisis.
The Cabinet approved a plan to invest the money in infrastructure and social welfare by the end of 2010, a statement on the government's Web site said.
ADVERTISEMENT
Some of the money will come from the private sector. The statement did not say how much of the spending is on new projects and how much is for ventures already in the pipeline that will be speeded up.
China's export-driven economy is starting to feel the pinch of weakening U.S. and European economies, and the government has already cut key interest rates three times in less than two months in a bid to spur economic expansion.
Economic growth slowed to 9 percent in the third quarter, the lowest level in five years and a sharp decline from last year's 11.9 percent.
That is considered dangerously slow for a government that needs to create jobs for millions of new workers who enter the economy every year and to satisfy a public that has come to expect steadily rising incomes.
Exports have been growing at an annual rate of more than 20 percent but analysts expect that may fall as low as zero in coming months as global demand weakens.
The International Monetary Fund has urged governments to adopt economic stimulus packages and, in some cases, to cut interest rates further, to counteract the slowdown.
China joins other major economies such as the U.S., Japan and Germany which have already introduced their own stimulus plans.
The U.S. allocated $168 billion earlier this year for tax rebates to individuals and tax breaks for businesses. Germany set aside $29 billion for tax breaks on new cars and credit assistance for companies. Japan allotted $275 billion for loans to small- and mid-sized businesses and discounts on highway tolls among other measures.
On Wednesday, finance officials from the G-20 group of major wealthy and developing nations convene in Washington to discuss a strategy for strengthening the global economy. Chinese President Hu Jintao is expected to attend.
China's statement said the Cabinet, at a meeting chaired by Premier Wen Jiabao, had "decided to adopt active fiscal policy and moderately easy monetary policies."
The statement said the spending would focus on 10 areas. They included picking up the pace of spending on low-cost housing -- an urgent need in many parts of the country -- as well as increased spending on rural infrastructure.
Money will also be poured into new railways, roads and airports. Spending on health and education will be increased, as well as on environmental protection and technology.
Spending on rebuilding disaster areas, such as Sichuan province where 70,000 people were killed and millions left homeless by a massive earthquake in May, will also be accelerated. That includes $2.93 billion planned for next year that will be moved up to the fourth quarter of this year.
The statement said rural and urban incomes would be increased.
Credit limits for commercial banks will also be removed to channel more lending to priority projects and rural development, it said.
Reform of the value-added tax system will cut taxes by $17.5 billion for enterprises, the statement said.
China Stimulus good for AIG
China announces $586 billion stimulus plan
Sunday November 9, 2:15 pm ET
By Scott Mcdonald, Associated Press Writer
China unveils $586 billion stimulus plan to fight effects of global meltdown
BEIJING (AP) -- China unveiled a $586 billion stimulus package Sunday in its biggest move to inoculate the world's fourth-largest economy against the global financial crisis.
The Cabinet approved a plan to invest the money in infrastructure and social welfare by the end of 2010, a statement on the government's Web site said.
ADVERTISEMENT
Some of the money will come from the private sector. The statement did not say how much of the spending is on new projects and how much is for ventures already in the pipeline that will be speeded up.
China's export-driven economy is starting to feel the pinch of weakening U.S. and European economies, and the government has already cut key interest rates three times in less than two months in a bid to spur economic expansion.
Economic growth slowed to 9 percent in the third quarter, the lowest level in five years and a sharp decline from last year's 11.9 percent.
That is considered dangerously slow for a government that needs to create jobs for millions of new workers who enter the economy every year and to satisfy a public that has come to expect steadily rising incomes.
Exports have been growing at an annual rate of more than 20 percent but analysts expect that may fall as low as zero in coming months as global demand weakens.
The International Monetary Fund has urged governments to adopt economic stimulus packages and, in some cases, to cut interest rates further, to counteract the slowdown.
China joins other major economies such as the U.S., Japan and Germany which have already introduced their own stimulus plans.
The U.S. allocated $168 billion earlier this year for tax rebates to individuals and tax breaks for businesses. Germany set aside $29 billion for tax breaks on new cars and credit assistance for companies. Japan allotted $275 billion for loans to small- and mid-sized businesses and discounts on highway tolls among other measures.
On Wednesday, finance officials from the G-20 group of major wealthy and developing nations convene in Washington to discuss a strategy for strengthening the global economy. Chinese President Hu Jintao is expected to attend.
China's statement said the Cabinet, at a meeting chaired by Premier Wen Jiabao, had "decided to adopt active fiscal policy and moderately easy monetary policies."
The statement said the spending would focus on 10 areas. They included picking up the pace of spending on low-cost housing -- an urgent need in many parts of the country -- as well as increased spending on rural infrastructure.
Money will also be poured into new railways, roads and airports. Spending on health and education will be increased, as well as on environmental protection and technology.
Spending on rebuilding disaster areas, such as Sichuan province where 70,000 people were killed and millions left homeless by a massive earthquake in May, will also be accelerated. That includes $2.93 billion planned for next year that will be moved up to the fourth quarter of this year.
The statement said rural and urban incomes would be increased.
Credit limits for commercial banks will also be removed to channel more lending to priority projects and rural development, it said.
Reform of the value-added tax system will cut taxes by $17.5 billion for enterprises, the statement said.
AIG Conference Call and Video's
Along with opinion posts. Earnings and Conference Call Monday Morning Conference Call to Broadcast Live on Internet at 8:30 A.M. EST Monday, November 10, 2008
NEW YORK--Nov. 7, 2008--American International Group, Inc. (AIG) will report its third quarter 2008 results at 6:00 a.m. EST on Monday, November 10, 2008. AIG's earnings release and financial supplement will be available in the Investor Information section of www.aigcorporate.com following the filing of AIG's Form 10-Q for the period ended September 30, 2008.
AIG Chairman and Chief Executive Officer Edward M. Liddy will host a conference call, broadcast live over the Internet, on Monday, November 10, 2008 at 8:30 a.m. EST to discuss AIG's third quarter results.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33439350
Video's
http://www.cnbc.com/id/15840232?play=1&video=922637739
http://www.cnbc.com/id/15840232?play=1&video=922629459
Posts from another Board
Post 1
I've seen a few posts from some doom and gloomers over the last few hours that are light on understanding, while at the same using random cherry-picked facts to support a negative outcome. While none of us can be completely sure of what will happen, here is something to keep in mind based upon what early reports have said, as well as an overview of an important point not mentioned enough on this board:
The huge loss, which has been expected, is -.62 per share. This is not new news. ER should not differ radically from those projections unless there are big write-downs, but based upon news reports from Reuters (see some of my previous posts) and others that is not the case. That also doesn't fit with AIG's behavior so far: they have already paid down $2 billion on the loan. So it's really important for me to state unequivocally that the negotiation with the Fed has nothing to do with their expected losses, it has everything to do with alleviating onerous and hastily created terms in the original AIG deal, terms that are far harsher than what banks are getting under TARP.
But here's a very key point. Most of the money they've gotten has not been spent, it's been used as collateral. In other words, they are using it to reserve against potential bad debt. They still have the money! (This very important point hasn't been mentioned much on this board, but Hank Greenberg mentioned the collateral issue yesterday on CNBC.) Why is this important? Early reports are that the new deal will not only have more favorable rates over a longer period of time, akin to TARP, but will also ALLOW AIG TO SHED ITSELF OF SOME TOXIC DEBT, which would be HUGE for the stock price. Why? Because, if you no longer have that bad debt, then you no longer have to reserve (or collateralize) for it. That means that any newly freed-up money AIG took from the Fed could be paid back very quickly. This is akin to borrowing money from your parents because you think your car engine is about to blow, then somebody takes the car off your hands before you ever have to get it fixed. You can pay dad back pretty quickly cuz you never used the money.
Remember, as Greenberg and others have stated much lately, AIG's main problem is liquidity, not solvency. This is a solid going concern that just doesn't have enough cash around to reserve for their potential bad debt after the sub-prime pinch. Eliminate the debt that makes you need the cash, then you eliminate the liquidity problem.
Post 2
My take on AIG moving CC before Opening Bell 8-Nov-08 09:14 am
AIG is expected to lose big money this quarter,so CC was set up after the closing Monday .AIG was still negotiating with the Feds to do the deal on Friday . The deal must have been done. The Board is going to meet Sunday ,bless the deal and will announce it early Monday morning.
The Present deal was taken when Bush Administration thought the market is going to have a melt down. Bush was appearing on TV everyday to calm the crowd. Now the picture has become little more clear Paulson and the Administration can finally think with their heads than raw emotions.
AIG in talks with Fed over new bail-out
By Francesco Guerrera in New York
Published: November 8 2008 00:36 | Last updated: November 8 2008 00:36
AIG is asking the US government for a new bail-out less than two months after the Federal Reserve came to the rescue of the stricken insurer with an $85bn loan, according to people close to the situation.
AIG’s executives were on Friday night locked in negotiations with the authorities over a plan that could involve a debt-for-equity swap and the government’s purchase of troubled mortgage-backed securities from the insurer.
People close to the talks said the discussions were on-going and might still collapse, but added that AIG was pressing for a decision before it reports third-quarter results on Monday.
AIG’s board is due to meet on Sunday to approve the results and discuss any new government plan, they added.
The moves come amid growing fears AIG might soon use up the $85bn cash infusion it received from the Fed in September, as well as an additional $37.5bn loan aimed at stemming a cash drain from the insurer’s securities lending unit.
AIG has drawn down more than $81bn of the combined $122.5bn facility. The company’s efforts to begin repaying it before the 2010 deadline have been hampered by its difficulties in selling assets amid the global financial turmoil.
AIG executives have complained to government officials that the interest rate on the initial loan – 8.5 per cent over the London Interbank Borrowing Rate – is crippling the company.
They compared the loan’s terms with the 5 per cent interest rate paid by the banks that recently sold preferred shares to the government.
One of AIG’s proposals to the Fed is to swap the loan, which gave the authorities an 80 per cent stake in the company, for preferred shares or a mixture of debt and equity.
Such a structure would reduce the interest rate to be paid by AIG and possibly the overall amount it has to repay. An extension in the term of the loan from the current two years to five years is also possible, according to people close to the situation.
The renegotiation of the loan could be accompanied by the government’s purchase of billions of dollars in mortgage-backed securities whose steep fall in value has been draining AIG cash reserves.
AIG is also proposing the government buy the bonds underlying its troubled portfolio of credit default swaps in exchange for the roughly $30bn in collateral the company holds against the assets.
Losses on the mortgage-backed assets, which were acquired by AIG with the proceeds of its securities lending programme, and the CDSs caused the company’s collapse.
Since the government rescue, they have continued to haunt AIG, which is required to put up extra capital every time the value of these assets falls. AIG and the Fed declined to comment
My Auto Ins Bill came with this e-mail
This message went out to many customers. I like what I see thus far. Earnings and CC before the Bell.
AIG RESCHEDULES ANNOUNCEMENT OF THIRD QUARTER 2008 RESULTS
PDF Version
News Release Announcing Results Now Scheduled for 6:00 A.M. EST Monday, November 10, 2008
Conference Call to Broadcast Live on Internet at 8:30 A.M. EST Monday, November 10, 2008
NEW YORK--Nov. 7, 2008--American International Group, Inc. (AIG) will report its third quarter 2008 results at 6:00 a.m. EST on Monday, November 10, 2008. AIG's earnings release and financial supplement will be available in the Investor Information section of www.aigcorporate.com following the filing of AIG's Form 10-Q for the period ended September 30, 2008.
AIG Chairman and Chief Executive Officer Edward M. Liddy will host a conference call, broadcast live over the Internet, on Monday, November 10, 2008 at 8:30 a.m. EST to discuss AIG's third quarter results.
The audio webcast of the conference call can be accessed at www.aigwebcast.com.
A replay will be archived through Wednesday, November 26, 2008, at the same URL as well as by telephone. For domestic callers, the telephone replay number is 800-628-9698. For international callers, the telephone replay number is 203-369-3304.
It should be noted that the remarks made on the conference call may contain projections concerning financial information and statements concerning future economic performance and events, plans and objectives relating to management, operations, products and services, and assumptions underlying these projections and statements. It is possible that AIG's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these projections and statements. Factors that could cause AIG's actual results to differ, possibly materially, from those in the specific projections and statements include developments in global credit markets and such other factors as are discussed in Item 1A. Risk Factors of AIG's Annual Report on Form 10-K for the year ended December 31, 2007, and in Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations of AIG's Quarterly Report on Form 10-Q for the period ended September 30, 2008. AIG is not under any obligation (and expressly disclaims any such obligation) to update or alter its projections and other statements whether as a result of new information, future events or otherwise.
Remarks made on the conference call may also contain certain non-GAAP financial measures. The reconciliation of such measures to the comparable GAAP figures will be included in the Third Quarter Financial Supplement available in the Investor Information section of AIG's corporate website, www.aigcorporate.com.
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
CONTACT:
AIG
Charlene Hamrah (Investment Community)
212-770-7074
Joe Norton (News Media)
212-770-3144
kraken do a Complaint
This no Bid and past weeks and months spread is outright criminal.
For those that are tired of the Bs from the MMs and these Outlandish spreads on Mona here is the link to the SEC complaint center.
Its very important that as many Longs as possible put these complaints in and I would recommend replacing whomever are the current Mms that are doing this.
This activity by some Market Makers has had a major effect on our Money and our Stock. Try to put one in.
http://www.sec.gov/complaint.shtml
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term uptrend Uptrend with tight money management stops.
Based on a pre-defined weighted trend formula for chart analysis, MONA scored +75 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
+10 Last Hour Close Above 5 Hour Moving Average
+15 New 3 Day High on Thursday
+20 Last Price Above 20 Day Moving Average
-25 New 3 Week Low, Week Ending October 25th
+30 New 3 Month High in September
+75 Total Score
formal announcements of the pay dates, and other relevant detail
"In other corporate events, the company acknowledges its shareholders' requests and will shortly be making formal announcements of the pay dates, and other relevant details of each and every previously announced dividend. Those documents and instruments are currently being organized, funded and finalized in concert with the company's transfer agent Heritage Trust."
MonArc (MONA) Andrea SA Peru Mine Filings
BEIJING, Nov. 5 /PRNewswire-FirstCall/ -- Further to the company's MonArc Corporation (MONA) http://www.monacorporation.com/ news announcement on various expansions and growth strategies the company is pleased to provide the following update to its shareholders and followers on the Peru mining pending merger.
The company has completed a set of filing with Pink Sheets including a comprehensive business description on the Peru targeted merger candidate. This is a comprehensive document that describes in easy to understand terms the potential this project may yield to the company.
This document is currently visible from the Pink Sheets home or index page but along with other filings dating from October 28th are not visible under the company's "filing Tab". The company has informed Pink Sheets of this and expects the error to be corrected shortly. The company also intends to post the same document on its web site http://www.monacorporation.com/ shortly.
The management of Mon Arc will be conducting their final review and a physical inspection of the Peru site from Nov 14 to Nov 25th and will report back promptly. The company continues to discuss buy out proposals for its existing operating subsidiary PP365. Since announcing the Peru mining project, the company has also received other unsolicited and somewhat attractive proposals for this project as well which are under consideration.
In other corporate events, the company acknowledges its shareholders' requests and will shortly be making formal announcements of the pay dates, and other relevant details of each and every previously announced dividend. Those documents and instruments are currently being organized, funded and finalized in concert with the company's transfer agent Heritage Trust.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet http://www.pinksheets.com/ filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation describing the risks of investing in penny stocks.
CONTACT: For corporate matters contact
DATASOURCE: MonArc Corporation (MONA)
CONTACT: For corporate matters contact
This is a MONA Board
not RMDM, man talk about a fixed board.
MonArc (MONA) PP365.com Formulate Development And Strategy Of Games
BEIJING, Nov. 4 /PRNewswire-FirstCall/ -- Further to the company's MonArc Corporation (MONA) http://www.monacorporation.com/ news announcement on various expansions and growth strategies the company is pleased to provide the following update to its shareholders and followers.
At present, a global economic crisis is spreading all over the world, impacting most industries. As the cheapest form of entertainment, the online games industry seems to be becoming a safe haven in this crisis, and some experts predict the gaming industry will mildly be impacted by the recession, if at all.
PP365.com has been optimistic about online games industry. It develops and acts as agent for a variety of online games as well. A few days ago, the company's management further determined the development strategy of games, decided to integrate all the company's games and establish a unified gaming platform, which will include board games and other recreational games, such as web game, a large-scale network operation. At present, the platform has entered the stage of planning and development. We are determined to build it one of the most influential gaming platforms in China.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet http://www.pinksheets.com/ filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation describing the risks of investing in penny stocks.
CONTACT: For corporate matters contact
DATASOURCE: MonArc Corporation (MONA)
CONTACT: For corporate matters contact
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stay on topic with RMDM.