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I'll take it as well. Thanks for sharing, man.
lookoverthere0@yahoo.com
And I just learned something very interesting about myself.
I am retarded.
My thoughts, "wow, it's at 3... I might be able to sell at 4 later or maybe tomorrow."
I have the survival instincts of a lemming.
My guess, and that is all it is, is that most of the people putting downward pressure on the stock have given up trying to get it at 1, and resigned that if they were going to flip it that they were going to have to come in at .0002 instead. I doubt it'll stick at .0003.
Or the volume's fallen off and the MM is trying to sweeten the kool-aid, maybe?
I'm suddenly more interested in the last hour of the day today.
okay, thanks.
So... rob
you're saying the pumpers are now all on MGLG?
Care to share where you heard this tip?
Only stock on the market that nosedives every time there's a press release about a new endeavor they're undertaking.
Anyone have any theories on that?
Is it that their profitability point keeps being pushed back b/c of the new directions or what?
No joke. We could pass out pocket laptops like candy bars.
I gave the 10Q a cursory look yesterday but didn't have time to read the reading.
Ugggh.
I hate waiting, and I'm on a losing streak. PMII should be going for at least $2/share right now b/c of the FDA approval (I mean those surgical tools have more potentially impact on healthcare than any drug), but the volume is such a joke I'm scared that I could jump in at .50, watch it go up to 1.25 and then in the blink of an eye someone swoops in and knocks it down to a quarter. At least MGLG seems like it's going to hold together.
You think it's going to go down to .0002?
It seems like there are people buying now at .0004, and with so many shares out there is it realistic to think it's going to go down that low?
They have until the 15th.
If what rob is saying about the CEO is correct, I'll bet they try to release it at the same time they drop some sales numbers to try to start a run. OR they could do it the day after when the "E" comes off.
To me, it makes a lot more sense for them to try that on a Monday or Tuesday than later in the week.
Do you guys feel like it's better to get in now or to wait for it to dip to .0003?
It's also a status symbol. And this company (according to their pricing) gets that.
$150 for a starter kit seems outrageous at first, but I could see this becoming almost as big a part of trendy upscale bars as designer clothing or top shelf liquor.
yeah, I'm thinking about some of my shares at .0003 and then rebuying at .0002 to recoup a little of what I'm in the hole for now.
I figure I pull a little out, and stay in if there's a run. If not, I keep trying to flip it.
Of course it actually has to get above .0002 for any of this to work.
Anyone else with advise on this one?
Thanks to everyone who's weighed in so far, it's appreciated.
Okay, so what's the next move?
Do I look to get out of of this as soon as I can recoup most of my losses? Do I wait for B/E? Or do I wait for another run?
Given the dearth of shares, I'm concerned that any run would come to a very abrupt end, so I definitely want to get out before it crashes again. I bought it at .0006, .0004, .0003 and .0002.
gotcha.
I thought I understood that, but I kept wondering how the price was going down to .0001, but I guess there were just sells going on and no buys.
Thanks for the help. Much appreciated.
ANYONE?
Little help?
Is there a methodology to getting .0001s filled? Do you look at smaller volume first? Are Good till filled taken before Good til end of day?
Is it first come first serve?
If I edit my order do I go to the back of the line?
Thanks, got an answer to my question?
If they were paid by the company I'd expect them to actually make a case for why the stock was going to rebound, and all they could do was litter the board with the same "high volume" bs and repost video of the Tyra Banks clip.
These weren't paid operatives, they were just unemployed dumbasses who have a privately run scheme to make easy money.
You could be right, but if so, that would be a bigger blow to my faith in this company than anything that's happened so far. I'd hope Seamless could get more for their money than those guys.
Price manipulation. That's what I keep saying. If this were truly a dead stock, then nobody would be buying, but everyone's trying to get on at the floor and ride the elevator up to 5 or 6 again.
There's some life here. The market isn't enlightened and intelligent, so much as it is greedy.
Is there any trick to getting your .0001s filled?
I've currently got two separate orders for 2.5M at .0001 in the pipeline.
Would a stand a better chance of getting them filled if I went smaller or is it just a crap shoot, waiting game, lottery kind of deal?
You seem like you know what you're doing.
I posted this question a few posts below, but I didn't get an answer.
Are there any rules or restrictions I need to know about (other than NYSE Rule 431) for flipping a stock?
I'm new to all of this, but I'm trying to figure it out as I go.
here it comes back down.
no volume to fight against it. Maybe it'll make some mid-day news or something. I don't think there are any eagles soaring this morning, so it's got a chance.
I'd love to get back in on this one, but if I jump in at this point, I won't be able to get out until tomorrow, and this thing is just as likely to finish the day at .40 as it is .90 or above.
Damn you, NYSE.
argh.
Volume is still awful. This run is one a-hole away from being busted before it really gets started.
There it goes. Up 47% and climbing.
Dammit. I'd swap a foot and a testicle for a better sense of timing.
Question on flipping for the wise and learned.
I know Rule 431 says that you can't buy then sell on four consecutive days or you're a day trader, and I know that it's somehow okay to sell THEN buy on as many consecutive days as you can do it.
Are there any other regulations designed to limit or restrict stock flipping?
Flippers in full effect this morning.
I guess I'm left to carry the chearleading torch.
I always suspected I'd look good in a pleated skirt.
Ignore that last commment.
Today's press release.
"With the Seamless Sales website launch completed and signups growing every day our next goal is to complete our 10 Q which is currently being reviewed by the accountants for filing. Once filed, we will increase our website awareness with a large website marketing campaign," stated Al Reda, CEO of Seamless Corp.
They really need to have a good reason why this 10 Q is taking so damned long to file. "We were busy getting the website up" just isn't good enough.
We know their debt and expenses are going to be up, and obviously equity hasn't been something they could lean on, so hopefully there will be some sales numbers to offset them.
I agree with most of what you said, and it's important to point out these are fixable problems (please reply if you disagree and explain why they aren't). The root of the problem is that they tried to grow too fast. Without any revenue to bring money back into the company they've had to rely on outside financing, and this just isn't a good time to have to rely on the kindness of ambitious millionaires and banks to get your fledgling company through the lean times.
The website is a good start. If they can generate a trickle of revenue from selling other products, then that could ease their crunch, show lenders and investors that they do at least know how to make money. Hopefully, that will generate enough funds to allow them to fill pre-existing orders and then to continue to produce at a profitable rate.
They're also taking a shot on the Home Shopping Network. Admittedly, it's not what anyone thinks of when they think of a place to sell electronics, but some sales from this endeavor could put a little extra blood in their veins and get the company's heart pumping again.
yeah, (ha) this is actually about where I thought it would stop.
The one thing I've been right about in two weeks.
Hey don't be insultin' liberals or else we'll tax you out of your home.
Direct your venom at the cheerleaders and watch the collateral damage.
Fair point, but this thing is trading for 1/10 of par.
They have products that they should be able to sell once they start trying. Once they start bringing in revenue, which should be soon, this will be a completely different company.
And if they don't.... then hopefully I can make the money I've "lost" back by flipping between .0001 and .0002.
With a price plunge like this, they'll probably release some kind of statement to increase shareholder confidence. Hopefully, it'll be something more tangible than a free press release.
Of course there's price manipulation going on. Just look at the number of people lined up to buy the stock at just below the bid price at each level from .0005 all the way to .0002. It's being strangled.
If the stock were garbage, there wouldn't be a line at any price. And the value would fall much faster than we've seen.
The simple fact is that it's financial feasible to force the value down, and then load up at .0001 for what will still be a great return when the stock is allowed to breath.
No, just a lot of people who're trying to get the value to go down to .0001, so they can double or triple up in a day or two.
Peaks and valleys, just peaks and valleys until they hit the shelves.
Keep your heads up.
They have no equity (.0002 is 1/5th par), and it's not uncommon for a fledgeling company to be short on cash... which is why they have debt.
It takes (borrowed) money to make (equity, sales) money.
I think the equity situation can be explained in part by dilution. They have nearly 10 billion shares. They should've issued fewer shares initially, and when they grew big enough to need more money, issue more then.
I also think that there are a lot of people who want to get this stock value back down to .0001 so that they can ride it up to .0005 or .0006 again. The stock is so diluted it's making this relatively easy to do.
The last 10-Q they published doesn't look terrible. I'm a little concerned about the 'bad debt' write off, but the rest doesn't look uncommon for a company that's trying to grow rapidly.
I'm interested to see what the next 10-Q holds and if they could get someone besides a penny online press release to publish something about sales in the next month.
I don't think they're dead. They just need to start selling their stuff, and a reverse stock split certainly wouldn't hurt either.
.01= cent
.001= tenth of a cent
.0001= hundreth of a cent
we were both wrong. It's one ten-thousandth of a dollar.
They do have products to sell, they just don't have them on the website, yet. Someone mentioned a phase 2, so we'll see. In the meantime, I'm going to scale back a bit.
Yeah, the news didn't seem to impress the shareholders today, either.
I am still ticked that it surged the day after I dumped. No signs of life for over a week, just down down down down. And then bang. 44% up.
I'm still not down on this company. I just think that the supply of shares exceeds potential demand to a point to which investors who're looking to jump in don't get a return.
Even if the stuff they're selling is shit, a share should be worth more than two one-thousandths of a cent.
There're just too many shares on the market.