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Come on now Indian...Youse did not answer myse question...Give mese a symbol for an oil company that should be PR'ing oil in the manner youse describe...Youse are sidestepping myse question, but youse knew that...
Gotta admit it...This is the most intertaining board on IHUB...Never a dull moment....Aggie....
Ise got to admit Indian, youse are good at what youse do, casting doubt and fear...However, every board needs a poster like youse...Ise just cant look at every situation with the "cup half empty" attitude...Terrible way to go thru life...Ise also own stock in a couple of other small oil companies...and theyse do not issue a PR everytime a drop of oil settles in the holding tank...So, for myse benefit, could youse post the symbol of those companies who PR every shipment to the refinery...Ise would really love to DD thosese companies...Muchos Gracias Amigo...Aggie..........
Thanks Nostradamus...But, really hard to take anyone serious with a handle like yours...In order not to be considered a one shot wonder, what happens in the next two weeks??? TIA...Aggie...
Wish I could claim credit...
Ive had my shares since 03/2005. Sold about half @ 1.75 during the big runup. Been holding the rest, all these many years, for the next run. Still waiting and still holding. Thought the Texas ruling would be finally break the logjam. Now hoping for good settlement news in the filing. Good luck to everyone....Aggie...Gig'em....
I believe the date is the 9th also....Aggie...
GOOD READ...Cellar boxing and NSS
Posted by Dfly
There’s a form of the securities fraud known as naked short selling that is becoming very popular and lucrative to the market makers that practice it. It is known as “Cellar boxing” and it has to do with the fact that the NASD and the SEC had to arbitrarily set a minimum level at which a stock can trade. This level was set at $.0001 or one-one hundredth of a penny. This level is appropriately referred to as “the cellar”. This $.0001 level can be used as a "backstop" for all kinds of market maker and naked short selling manipulations.
“Cellar boxing” has been one of the security frauds du jour since 1999 when the market went to a “decimalization” basis. In the pre-decimalization days the minimum market spread for most stocks was set at 1/8th of a dollar and the market makers were guaranteed a healthy “spread”. Since decimalization came into effect, those one-eighth of a dollar spreads now are often only a penny as you can see in Microsoft’s quote throughout the day. Where did the unscrupulous MMs go to make up for all of this lost income? They headed "south" to the OTCBB and Pink Sheets where the protective effects from naked short selling like Rule 10-a, and NASD Rules 3350, 3360, and 3370 are nonexistent.
The unique aspect of needing an arbitrary “cellar” level is that the lowest possible incremental gain above this cellar level represents a 100% spread available to MMs making a market in these securities. When compared to the typical spread in Microsoft of perhaps four-tenths of 1%, this is pretty tempting territory. In fact, when the market is no bid to $.0001 offer there is theoretically an infinite spread.
In order to participate in “cellar boxing”, the MMs first need to pummel the price per share down to these levels. The lower they can force the share price, the larger are the percentage spreads to feed off of. This is easily done via garden variety naked short selling. In fact if the MM is large enough and has enough visibility of buy and sell orders as well as order flow, he can simultaneously be acting as the conduit for the sale of nonexistent shares through Canadian co-conspiring broker/dealers and their associates with his right hand at the same time that his left hand is naked short selling into every buy order that appears through its own proprietary accounts. The key here is to be a dominant enough of a MM to have visibility of these buy orders. This is referred to as "broker/dealer internalization" or naked short selling via "desking" which refers to the market makers trading desk. While the right hand is busy flooding the victim company's market with "counterfeit" shares that can be sold at any instant in time the left hand is nullifying any upward pressure in share price by neutralizing the demand for the securities. The net effect becomes no demonstrable demand for shares and a huge oversupply of shares which induces a downward spiral in share price.
In fact, until the "beefed up" version of Rule 3370 (Affirmative determination in writing of "borrowability" by settlement date) becomes effective, U.S. MMs have been "legally" processing naked short sale orders out of Canada and other offshore locations even though they and the clearing firms involved knew by history that these shares were in no way going to be delivered. The question that then begs to be asked is how "the system" can allow these obviously bogus sell orders to clear and settle. To find the answer to this one need look no further than to Addendum "C" to the Rules and Regulations of the NSCC subdivision of the DTCC. This gaping loophole allows the DTCC, which is basically the 11,000 b/ds and banks that we refer to as "Wall Street”, to borrow shares from those investors naive enough to hold these shares in "street name" at their brokerage firm. This amounts to about 95% of us. Theoretically, this “borrow” was designed to allow trades to clear and settle that involved LEGITIMATE 1 OR 2 DAY delays in delivery. This "borrow" is done unbeknownst to the investor that purchased the shares in question and amounts to probably the largest "conflict of interest" known to mankind. The question becomes would these investors knowingly loan, without compensation, their shares to those whose intent is to bankrupt their investment if they knew that the loan process was the key mechanism needed for the naked short sellers to effect their goal? Another question that arises is should the investor's b/d who just earned a commission and therefore owes its client a fiduciary duty of care, be acting as the intermediary in this loan process keeping in mind that this b/d is being paid the cash value of the shares being loaned as a means of collateralizing the loan, all unbeknownst to his client the purchaser.
An interesting phenomenon occurs at these "cellar" levels. Since NASD Rule 3370 allows MMs to legally naked short sell into markets characterized by a plethora of buy orders at a time when few sell orders are in existence, a MM can theoretically "legally" sit at the $.0001 level and sell nonexistent shares all day long because at no bid and $.0001 ask there is obviously a huge disparity between buy orders and sell orders. What tends to happen is that every time the share price tries to get off of the cellar floor and onto the first step of the stairway at $.0001 there is somebody there to step on the hands of the victim corporation's market.
Once a given micro cap corporation is “boxed in the cellar” it doesn’t have a whole lot of options to climb its way out of the cellar. One obvious option would be for it to reverse split its way out of the cellar but history has shown that these are counter-productive as the market capitalization typically gets hammered and the post split share price level starts heading back to its original pre-split level.
Another option would be to organize a sustained buying effort and muscle your way out of the cellar but typically there will, as if by magic, be a naked short sell order there to meet each and every buy order. Sometimes the shareholder base can muster up enough buying pressure to put the market at $.0001 bid and $.0002 offer for a limited amount of time. Later the market makers will typically pound the $.0001 bids with a blitzkrieg of selling to wipe out all of the bids and the market goes back to no bid and $.0001 offer. When the weak-kneed shareholders see this a few times they usually make up their mind to sell their shares the next time that a $.0001 bid appears and to get the heck out of Dodge. This phenomenon is referred to as “shaking the tree” for weak-kneed investors and it is very effective.
At times the market will go to $.0001 bid and $.0003 offer. This sets up a juicy 200% spread for the MMs and tends to dissuade any buyers from reaching up to the "lofty" level of $.0003. If a $.0002 bid should appear from a MM not "playing ball" with the unscrupulous MMs, it will be hit so quickly that Level 2 will never reveal the existence of the bid. The $.0001 bid at $.0003 offer market sets up a "stalemate" wherein market makers can leisurely enjoy the huge spreads while the victim company slowly dilutes itself to death by paying the monthly bills with "real" shares sold at incredibly low levels. Since all of these development-stage corporations have to pay their monthly bills, time becomes on the side of the naked short sellers.
At times it almost seems that the unscrupulous market makers are not actively trying to kill the victim corporation but instead want to milk the situation for as long of a period of time as possible and let the corporation die a slow death by dilution. The reality is that it is extremely easy to strip away 99% of a victim company’s share price or market cap and to keep the victim corporation “boxed“ in the cellar, but it really is difficult to kill a corporation especially after management and the shareholder base have figured out the game that is being played at their expense.
As the weeks and months go by the market makers make a fortune with these huge percentage spreads but the net aggregate naked short positions become astronomical from all of this activity. This leads to some apprehension amongst the co-conspiring MMs. The predicament they find themselves in is that they can’t even stop naked short selling into every buy order that appears because if they do the share price will gap and this will put tremendous pressures on net capital reserves for the MMs and margin maintenance requirements for the co-conspiring hedge funds and others operating out of the more than 13,000 naked short selling margin accounts set up in Canada. And of course covering the naked short position is out of the question since they can’t even stop the day-to-day naked short selling in the first place and you can't be covering at the same time you continue to naked short sell.
What typically happens in these situations is that the victim company has to massively dilute its share structure from the constant paying of the monthly burn rate with money received from the selling of “real” shares at artificially low levels. Then the goal of the naked short sellers is to point out to the investors, usually via paid “Internet bashers”, that with the, let’s say, 50 billion shares currently issued and outstanding, that this lousy company is not worth the $5 million market cap it is trading at, especially if it is just a shell company whose primary business plan was wiped out by the naked short sellers’ tortuous interference earlier on.
The truth of the matter is that the single biggest asset of these victim companies often becomes the astronomically large aggregate naked short position that has accumulated throughout the initial “bear raid” and also during the “cellar boxing” phase. The goal of the victim company now becomes to avoid the 3 main goals of the naked short sellers, namely: bankruptcy, a reverse split, or the forced signing of a death spiral convertible debenture out of desperation. As long as the victim company can continue to pay the monthly burn rate, then the game plan becomes to make some of the strategic moves that hundreds of victim companies have been forced into doing which includes name changes, CUSIP # changes, cancel/reissue procedures, dividend distributions, amending of by-laws and Articles of Corporation, etc. Nevada domiciled companies usually cancel all of their shares in the system, both real and fake, and force shareholders and their b/ds to PROVE the ownership of the old “real” shares before they get a new “real” share. Many also file their civil suits at this time also. This indirect forcing of hundreds of U.S. micro cap corporations to go through all of these extraneous hoops and hurdles as a means to survive, whether it be due to regulatory apathy or lack of resources, is probably one of the biggest black eyes the U.S. financial systems have ever sustained. In a perfect world it would be the regulators that periodically audit the “C” and “D” sub-accounts at the DTCC, the proprietary accounts of the MMs, clearing firms, and Canadian b/ds, and force the buy-in of counterfeit shares, many of which are hiding behind altered CUSIP #s, that are detected above the Rule 11830 guidelines for allowable “failed deliveries” of one half of 1% of the shares issued. U.S. micro cap corporations should not have to periodically “purge” their share structure of counterfeit electronic book entries but if the regulators will not do it then management has a fiduciary duty to do it.
A lot of management teams become overwhelmed with grief and guilt in regards to the huge increase in the number of shares issued and outstanding that have accumulated during their “watch”. The truth however is that as long as management made the proper corporate governance moves throughout this ordeal then a huge number of resultant shares issued and outstanding is unavoidable and often indicative of an astronomically high naked short position and is nothing to be ashamed of. These massive naked short positions need to be looked upon as huge assets that need to be developed. Hopefully the regulators will come to grips with the reality of naked short selling and tactics like "Cellar boxing" and quickly address this fraud that has decimated thousands of U.S. micro cap corporations and the tens of millions of U.S. investors therein.
Picked up a few today at .0013 Now for sale at .002 Come and git'em....Aggie...
English Please.....
What????
What??????
LOL...I actually agree with everything you said DI...Gig'em... Aggie...
IMO key day tomorrow. Closed right at the 200MA. Two down days in a row. However, IMO, if we can stay above the 200MA we start a new base of consolidation for the next leg up....All my opinion...Aggie...
Thank you for your analysis....Aggie...
No buyers today????
IMO, a PR at this point does nothing...Last PR did nothing...Need to get the paperwork done for Symbol change and get MM representation...I actually hope the CEO would hold any production updates until after these items are complete...Then release several updates back to back to back...Without MM representation, this stock is grounded.......IMO.. Aggie...gig'em...
Sold some yesterday and today...This pick is starting to smell...Only holding a small core position at this point (90K)...and keeping my eyes open for the next support level...Apparently all the mods left us after the last run to .006...Really dont like the way the CEO handled this one...Good luck to everyone here...Aggie.
Support broken...No MM representation...Afternoon action will determine my actions...Aggie....
Welcome back Indian...Up 20% on my .002 shares... Whee!!!! ...May sell a few here and reload again around .0016-.0018... whee!!!... Love this stock... Gig'em...Aggie...
Agreed. The free shares represent mostly profit at this point. However, we are still trading within the .0015- .006 channel and I will hold on to my shares until they drop below support. I expect this to make a push to .01 again and at that time I will decide whether to exit or continue the game. I do have a plan Indian and will trade that plan. Thank you for your time and have a very enjoyable evening...Aggie...
Thanks Indian,
However, 75%+ of my shares are currently "free" and the others have a cost basis of about .0021. Traded this stock several times already. Looking for that next big push to .003. Whee!!! Anthing over that will be gravy. This stock will push past .01 again someday, until then, I will take what the market gives me and continue to accumulate "free" shares. I really do appreciate the advice though. Youse is a very valuable asset to this board. Keep up the outstanding work...Gig'em...Aggie...
Thank you for your analysis......
The exact quote from the 02/22 PR is....
Once restructuring is complete the company anticipates the capital structure to be under 650M shares outstanding with a float under 270M shares. These anticipated numbers reflect current and short-term future financings on a fully diluted basis.
Key word "future"...IMO, this means they are not finished diluting yet...Combine that with no MM representation and any PPS rise is very short lived...Again IMO, the prudent thing would have been to get MM representation first, then start releasing the meaty PR's (well production, etc) in short order...With MM representation, the ability for MM's to manipulate would be greatly reduced and we may be holding our gains rather than giving them back each day...But What Do I Know...Aggie....
My uncle bought and sold thousands of acres of land in the Grimes/Madison/Walker county area's of Texas in the 50's and 60's....But, every time he sold the land, he kept all mineral rights... He has many thousands of acres which he only owns what is under the ground...very shrew old goat...He has no children, so all his nephews/nieces (includes me) will inherit once he passes.
As for me...I am very small time as far as trading...I trade only out of a Roth account...Allows me to scratch my gambling itch without hoping a plane to Vegas or New Orleans...LOL...Aggie....
Many Thanks...I'll have to check with my rich uncle the oil barron to see if he will tell me anything...The old goat is very tight lipped when it comes to his oil money details... LOL... Aggie....
Question for the board...I have been seeing alot of posts showing potential profit margins based on oil revenue and production costs...Does anyone know if Royalties to the land owner (actually, owner of the mineral rights) is included in these production costs...Our family owns land in Texas with several producing wells...The owners of the mineral rights for these properties receive annual lease payments from the oil companies + royalties based on what is pumped...I'm not sure if SGGC sells a barrel of oil for $100, if they get to keep all the revenue...Maybe things work differently in Kansas than in Texas...If anyone can clarrify, please do....Aggie....
What news is expected in 4 weeks??? Aggie.
Not much volume today, but love the fact we closed at .05 Been a long time since we closed above a nickle. Had a nice run around this time last year. Maybe again??? Aggie.
Nite, as are the rest of us, is in the market to make money...They, however, get to play by a different set of rules than the rest of us...As long as they can control the price action, they will...Just play their game and not against them...The current trading channel is .0015 - .0065...That is a pretty big spread...The smart investor can make money short time playing this channel...and still have some available for any huge run...I expect another run to .006 or so very soon...Dont get greedy and take some off the top when you can...Gig'em.....Aggie..
Look at the bright side....We ended the streak of 4 consequtive days of finding a LOD lower than the prevoius day....Even though we still closed down for the day (.0028) we did not go lower than on Friday (.002)...I would not have been suprised if we had retreated to previous support (.0015)and we did not do that (big positive IMO)....We may be trying to establish a new support level higher than previous support (big postitive IMO)...As long as we dont drop below .0015 we are still very much in play...Much of the SGGC story has yet to be told, so play accordingly...Those who took some off the table at .006-.0065 and reloaded Friday and today are not complaining...
As stated earlier by Argonath, UNTIL we get MM representation to control the trading a bit, and get a solidified cuspid change, this will STILL trade chaotic at the whims of one or more MM's. Tis a wise gentleman who speaks these words.....Gig'em...Aggie...
Well said and you are 100% correct.......
I see old stripper wells, shut in years ago, being reworked all over my part of Texas. Work over rigs are everywhere. Most activity I have seen in the past 10 years. I know of 11 wells on and around family land (Grimes County, Texas) that are now back on-line. What was unfeasible to pump at $20/barrel is now very profitable at $90/barrel. New technology and horizontal drilling is making the fields productive again....Not IMO...Fact...Gig'em...Aggie...
Will be interesting to see what the chart does today...Past support was .0015 and we hit .002 before the small bounce on Friday...Watching to see if we head back to support (.0015) or make another run at that .0065 resistance...My bet is we trade sideways today and tomorrow and head back to .005ish by midweek...Hopefully, an incouraging report from Van and well #2 coming online PR will give us the EOW boost to break that .0065 resistance...Aint this fun...almost like Vegas, except without the hookers...Gig'em...Aggie.
I went back and read the past 200 or so posts trying to catch up on the scoop....Apparently, 270M is what the float can grow to fully diluted....Still questions about the current float....IMO, the company still plans to dilute, so I plan to play this accordingly....Will continue buy the dips and sells the peaks, banking "free shares" in hopes we ever do decide to run past .037 again....IMO....Gig'em...Aggie...
Just curious...Is anyone else suprised that the float is "under 270M"...I thought the word thru from the CEO via Van was 65M ish...I thought I had read the same thing from someone who spoke with the IR...At least we know what we have to work with...Aggie...
I stated yesterday (for which I took some abuse) that today was a pivital day for the short-term PPS. Still stand by that statement and todays action so far is proving me right.....Still bullish on the LT PPS....But, short-term will be filled with ups and down.
2 down days in a row....Hmmm....Even with the positive Pr today....Hmmm....Was lots of hype going into the week....Tomorrow, IMO is a very pivital day....
http://investorshub.advfn.com/boards/read_msg.asp?message_id=26973400
Wow.....Your right, I transposed something somewhere. .0065 was HOD. For my .002 shares I was up 225% (.0065 - .002 = .0045 gain .0045 gain/.002 purchase price = 225%). For my .0027 shares I was up 140% (.0065 - .0027 - .0038 gain .0038 gain/.0027 purchase price = 140.74% ). Average gain betwen the two purchase is probably close to 160%....
Doesnt matter now that SP did not hold or break .0065. I still believe we head back towards a penny soon...
Thank Youse for all your advice and support...Youse are an asset to this board.
2 down days in a row....Hmmm....Even with the positive Pr today....Hmmm....Was lots of hype going into the week....Tomorrow, IMO is a very pivital day....
ROYALTY-BEARING License ........
Read item 13 again guys....This is what everyone has been waiting for, is it not....Negotiated for 14 months for a license they did not infringe....
http://photos.imageevent.com/banos/ptsc/Doc%201.pdf
Its Royalty time for Alicense...No more licenses for peanuts....
Aggie
Gotta love Item 13.
13. Beginning in or about 2006, and continuing thereafter, Allicense has repeatedly demanded that Plantiff's enter into a ROYALTY-BEARING License ........
Starting to play hardball. IMO, first tier licensing is complete. This is what everyone waiting on the sidelines has been waiting for. Over this hurdle and the race is over.....
Aggie.