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Any guesses on high of the day today...
it should be at least a 3 banger from here...
i was chasing the bid all day...
finally got some...
what a drop...
what happened...
what a drop...
what happened...
I guess I will just wait until the interest lowers a bit..
Trying to get on this today....
no luck kept chasing the bid all day...
just could not get any..
good luck everyone...
I was lucky but feeling unlucky... had my sell order in at 4.35 per share... was going to change it...but the stock moved so fast..
one minute it was 3.90...the next time i looked my order was executed.. well... I made a good profit...better to leave some money on the table then leave it all... as they say...
Good luck...got a feeling this is going to have some legs... but to where it goes...who knows...
i wonder what the next announcement is going to be...
I have a current target price of 4.35 per share...
I had at 3.15 on earlier today...but changed it when I saw the announcement...
Another big announcement I will change that target to 6.40.
What a run...to bad I had just a little money freed up...but I am a happy camper...
I guess thing could hit 4.00 in a couple of days...at this rate...
this is happening with no news out yet??!!
I wonder what news they are going to release to be the catalyst for this...
Hoping for at least a triple on this...
U can sleep at night knowing that you tried to help.
No matter what they say...they can and will contradict the obvious.
The reality is that this company is on its death bed. The new regulations put out by finra for the capital requirements for clearing houses make it unfeasible for sub penny stocks. The trend for having stock above .10 a shares before some clearing houses will clear.... means that this stock is going to have to reverse. Remember that this Petty is paying himself $500,000.00 a year for a part time gig...he has mentioned several times in his newletters that the board of directors has allowed him to work on other projects for his own self interest....
You know the ole saying...it is what it is...
When you got ur money in you want to close your eyes to it...and wish for the best...but when ur money is lost...you wake up to some cruel realities...
Questions:
has anyone gone over these joint ventures... and the consulting agreements..what is the actual net to FMNJ?
How much profit would it take to even justify a .001 price tag for the stock....you cant mention assets because the assets do not belong to FMNJ...remember they have none...
How much of a reverse would it take to make a .01...the current minimum for many brokerage houses to buy a stock...
What is the true bid of the stock...is there one... so in a reverse you would have what a .01 ask and no offer...slammed to micropenny again...
What about the share distribution for FMNJ shareholders for the sale of the assets to ENMI... not that that matters now...ENMI is like .0006 and no liquidity which means the slightest selling will slam it to .0001.
The intent of the management is shown in their actions...I find it very humorous that you guys think a 20-30-40 billion issuance is acceptable...
OK to summarize....
CEO gets big paycheck...
CEO has increased authorized to unrealistic numbers
CEO has blamed the share price on shareholders for not buying more stock and cited a company that had a trillion outstanding shares and had a higher price...(check back to a past newsletter from two years ago, if memory serves me correctly)
Anyway good luck on the optimism and keep ur head in the sand....
OH HAIL... CAPTAIN PETTY.... WE WILL WALK THE PLANK FOR YOU AND GIVE YOU ALL OF OUR MONEY AND SAY THANK YOU SIR!!! WHAT YOU SAY DONT WORRY THERE ARE NO SHARKS IN THE RIVERS OF BOLIVIA...JUST PIRANA'S.
How much of a reverse would it take to get this stock to .10 per share.
This is the reality you all need to look at...and that is if FMNJ can get a reverse approved by FINRA.
Penson has changed their policy and will not clear stock that is less than .10 per share. Means all current shareholders will get wiped out if they can get the approval from FINRA.
Did you look at the experience of the President..
Past clients include The Tracking Corporation....TRKG, Automotive Software Design...OPSY, and now he is President of PRMX...
He is most likely just a figurehead...and by those references alone say he has a long standing relationship with this group.
But go ahead and pump away... most likely that is what you are paid to do... I only give warnings based upon my own experience.
Actually this is the second play this guy is doing with PRMX, the first one he did one pump and could not get any momentum on it, then he did THCB, that deal fell apart so he went and put it in PRMX.
The common name in all these plays is Jerry Grissafi and his network.
Be careful with this one...
Alot of downside....the same folks that trashed TRKG, OPSY , THCB are in this one... I am hearing rumblings that there may be lawsuits coming to their door steps... from these prevoius situations...
This could get messy real fast...you can only burn so many people before it bites you in the rear!!
Who knows with these guys...
They have left a bunch of broken companies in their path..
The brother and brother team of the Grisafi's.
TRKG, OPSY, THCB and PRMX...
Only heaven knows why the SEC or some major shareholders have not come down on them yet...
U R correct.....
This is pretty much the end of the line..
I think the new president is Petty possibly exiting himself out of FMNJ...this could be the first step of a reverse merger.
FMNJ as a company is screwed up....big time... however as a vehicle it has value... operating...alot of aged paper...not much to get the financials up to date...Probably.... I would say is that Petty resigns...
Huge Reversal... name change and all that stuff...
Thats a good one.... thats the way to keep your sense of humor...
Kudos...
No that is not whats happening...
Subpenny stocks are becoming cost prohibitive to trade..
That would have been the time frame that all this was done, looking at when they created Franklin Oil & Gas the private company and when they did the merger to create ENMI, which in my opinion should be wholly owned by FMNJ and a stock distribution should have been done at that time.
This transfer of assets looks like they possibly could have just taken (putting this lightly) right from the public company and gave it to themselves... to do another stock play with without regard to the shareholder.
How the heck can the company sell stock below par value?
Thats your reply....
It is a stinkie pinkie so it is ok for them to do whatever??!!
BTW.... If there was no vote, or proxy with full public company documentation such as minutes, board resolution, etc. to transfer assets out of the public company, then I guess it very well could be illegal.
Thanks for bringing that up...
Please remember lets go by the financials not by what you may think or going by what you may have heard from someone who knows somebody who knows an insider. You could have been misinformed.
51% is needed and a proxy is still needed and it needs to be recorded, a corporate resolution needs to be done and it needs to be released in the quarterly and in the annual, it is a material event to the company.
Accordingly there is no mention of an approval that was done at the time. If there was a vote and 51% was done, those shareholders that control that 51% has to be recorded in the company books as voting for the approval of the sale or lack thereof of the public company assets, projects, intellectual property, etc...
So far from what I have read on the financials of FMNJ and ENMI, there seems to be no proxy mentioned of the transfer of FMNJ projects, assets, intellectual property to Franklin Oil & Gas the private company.
According to the 2009 annual report insiders made up less than 17% of the common shares.
Forget how it is understood by hearing it from someone who knows someone..etc...and forget opinions...lets base it on the financials released by FMNJ and ENMI. How many of you guys actually read the financials?
How does it read in the financial reports, because at the end of the day that is how it is according to the company.
According the the financials that ENMI put out, it states very clearly that 130 million was paid for the Franklin Oil & Gas, a private company.
Please review the financials of FMNJ and lets see if we can find where FMNJ had the approval of the shareholders to transfer assets to this private company and what compensation was received from this private company....Please keep the order of sequence in order...
When did the assets go into Franklin Oil and Gas the private company...which was created in 2008. Just look it up on NVSOS.
When did the board get shareholder approval for the transfer of these assets and what did the shareholders of FMNJ get?
Did FMNJ get 130 million shares? No where to be found on the 2009 financials...not to be found on the 1st half of the 2010.
So according to their financials...FMNJ received 0. Unless I missed it...If I did please advise where in the financials is it.
No one wants to discuss this?
That is surprising...
Came across this from the yahoo board...it raises some interesting questions, if you all want to read the full post it is at yahoo.
.........................................
Interesting reading on the last financials of ENMI...
It seems that the management of FMNJ started another company called Franklin Oil and Gas in March, 24, 2008.
It seems by the financials of ENMI, that this company was what ENMI paid the 130 million shares for and was distributed amongst the owners of this company.
My question comes how did they transfer the projects from Franklin Mining, Inc, to this new company they formed? Isn't that theft of assets from a public company having it transferred to this private company without compensation to the public company and shareholder approval?
This must be why they never did a stock distribution to FMNJ shareholders.
Not everyone are haters...just alot of people has felt that they been burned..
and now there are some questions being asked on the yahoo board....this is part of a message from the yahoo board...
____________________________________________________________
Interesting reading on the last financials of ENMI...
It seems that the management of FMNJ started another company called Franklin Oil and Gas in March, 24, 2008.
It seems by the financials of ENMI, that this company was what ENMI paid the 130 million shares for and was distributed amongst the owners of this company.
My question comes how did they transfer the projects from Franklin Mining, Inc, to this new company they formed? Isn't that theft of assets from a public company having it transferred to this private company without compensation to the public company and shareholder approval?
This must be why they never did a stock distribution to FMNJ shareholders.
_______________________________________________________________
Since current controlling shareholders and officers of ENMI used this to get ENMI. I am curious to what kind of liabilities ENMI can be held to if the answer to the above question is not favorable.
Came across this from the yahoo board...it raises some interesting questions, if you all want to read the full post it is at yahoo.
.........................................
Interesting reading on the last financials of ENMI...
It seems that the management of FMNJ started another company called Franklin Oil and Gas in March, 24, 2008.
It seems by the financials of ENMI, that this company was what ENMI paid the 130 million shares for and was distributed amongst the owners of this company.
My question comes how did they transfer the projects from Franklin Mining, Inc, to this new company they formed? Isn't that theft of assets from a public company having it transferred to this private company without compensation to the public company and shareholder approval?
This must be why they never did a stock distribution to FMNJ shareholders.
.........................................
I thought we could use some amusement ...took this from one of the past memo's from the CEO...
Q) How do you get the share price up? [Good Question]
A) It is not in our hands. However, after studying many companies that trade on the Pink Sheet, all I can determine is, TRADES. One company that I have been studying, for example, has 2 Trillion Shares outstanding and around 203 Million Shares in the float. However, the difference is, that we do 20 or 30 trades per day, where they do 3,000 trades per day and it is reflected in the price.
Have a chuckle with ur coffee....
That is an interesting post...
I have a question... if their par value is .001 and the market value is .0001 or less....
Then how do they work the accounting on the new issuances, do they mark it as a loss of .0009 per share?
At what rate do they pay for services? At .00005?
Something else does not make sense... who are all these people trying to find who will take their stock certs? Here and on the yahoo board?
How many shares do they have?
And at what price did they buy at?
I heard that alot of shares were sold at huge discounts, I know this because the brokerage house, where my broker is at has been called by several different people trying to see if they would accept shares...
He pretty much told me that anyone who does not have their shares in the DTC system right now....is pretty much screwed on trying to get a brokerage house to accept these...
FINRA changed the regulations and made it cost prohibitive to trade stocks in the sub penny range...
So any of you guys who want to sell your hard certs.... I may consider buying at the .000005 range or less....what that i hear...that is too much of a loss to bear... welcome to my world...
Anyway... this is the nature of this beast...
What is the float?
How many shares are ready to get in the float? ....If they can find a broker to accept their shares?
Your right some office furniture that is being depreciated down to nothing...no other assets no value to the contracts that they hold.... Where did all the money go....maybe the next financials will have this included including the shares for selling off the assets of Franklin Oil & Gas....did they even have assets?
I am also curoius how did they get all these shares authorized...
I have never seen nothing come in the mail in the form of proxies... who holds 51% of the company or what group holds it?
It is weird....almost to the point of loonie