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TG nice work on RB.
Braz in Pinks and OTC's management always retains voting control via preferred stock, so buying up the O/S would get you nowhere.
The event ran until 1Pm, maybe get a story on the internet from a Toronto paper today or tomorrow.
Wish I had free cash I would add here.
ARMs a 'Ticking Time Bomb'
As we have previously reported in MoneyNews, over the last few years, millions of American homeowners have used adjustable-rate mortgages (ARMs) to take advantage of historically low interest rates and record-high home prices.
"Many of them chose to refinance into hybrid ARMs that lenders were aggressively pushing. ARMs, which featured a low introductory interest rate that resets upward after a set period of time, were easier to qualify for than traditional fixed-rate loans," the AP reports.
And although freshhome-foreclosure figures from the Mortgage Bankers Association show that foreclosure activity dropped in the Q1 2006 compared to the same period a year ago, experts assert that a strong economy had a lot to do with that - and they "fear the market has turned and numbers are headed upward," according to the article.
"ARMs are now starting to fall by the wayside as the difference in interest rates narrows. The average rate on a 30-year fixed rate loan in May was 6.60% compared to 5.63% on a one-year ARM, according to Freddie Mac. In 2003, rates on a 30-year fixed were at 6.54%, while ARMs carried a 3.76% rate."
Right about now, hundreds of thousands of ARM holdersare preparing to find out exactly how they will affected by the first rate increases on the mortgages they took out a few years ago. According to Bankrate.com, "over the next 18 months, more than $1 trillion of adjustable-rate mortgages will be hitting their first reset date."
"ARMs are a ticking time bomb," Brad Geisen, president and chief executive of property tracker Foreclosure.com, told the AP. "Through 2006 and 2007, I'm pretty sure we'll see a high volume of foreclosures."
TFN Why? That isn't too much to ask for!
She doesnt have to waste money on a pr for a shareholder update just put it in a pr. IE: we are currently working on financing for the tour to begin in December, provide an update on the O/S and the float. I think that would placate some of us who are stuck, but no communication at all from a company that doesn't file and is producing no revenue, with a distant target for executing their business plan is not acceptable, even if it doesn't move the pps. I am under no illusion thata fluff pr will grant me the opportunity at the great escape.
Len builders complaining about speculators is preposterous! All the builders were making money hand over fist because of the drastic rise in prices. They have nobody to blame but themselves for overpaying for large tracts of land that will probably be unprofiable for years. They couldn't foresee the downturn because of greed, plain and simple.
TFN I for one have not been badgering her or IR? One question via the website and one phone call to IR in months, but I dont blame investors for calling, they bought in based on information released in past PR's, at the very least they could update the website. Yeah I definitley put in more than I normally would in a pink and I would accept the loss if there was a reasonable bid to sell to .0015, .002 would be better.
Brucek you said she is not taking a paycheck did you happen to get a number on the float. Maybe she is getting paid in shares which would explain the increase in the O/S, wonder how much went to IR,maybe the picture isn't as bleak as it appears.
Brucek I have been in alot of scam stocks (not saying this is) and the CEO's are almost always appear to be genuine. If this was a scam I think we would have been fed a better a story line, though I could be wrong. I was really disappointed with the December timeline-along with everyone else, we currently have no bid. I had a test sell out there today at .0011 not one share bought, dont like being told news should start up next week and three weeks later nothing. If there were a legitimate bid right now I would take it.
Yeah lets see the post we are all stuck here, maybe worth a laugh.
Len todays data shows housing starts up 5%. Builders bought land at premiums the last couple of years, I believe they are going to rush to try to beat the falling market, problem is higher level of building will add to an already bloated inventory and may actually trigger price declines.
Funding? What was the couple hundred million added to the float between .006 and .003? Two hundred million at .004=800k, certainly would have been a nice start. I need to buy a pink shell!
Shiller: 'Down Cycle,' 'Risk' in Housing Market
During a presentation in New York Friday, renowned economist Robert Shiller said that while the recent U.S. housing boom has been the largest ever, data suggest that the market has reached the end of the cycle.
He cited the end of World War II as the only period in American history that compares to the latest residential real estate boom. But he reminded the audience that during that post-war era, there were tangible factors driving the housing boom, while it seems the current one could have been more of a psychological reaction.
"After World War II, the soldiers came back and they wanted houses and started the baby boom. And when you had babies, you wanted houses with at least two bedrooms - and that wasn't so common back then. They went on a buying spree and it pushed home prices up," he said, according to MarketWatch.
But based on his information, today's boom appears to be simply speculative, says Shiller. "It's an uncertain situation," CNNMoney quotes him as saying. "It looks like a down cycle that might continue down or it may bounce around. I will not make a forecast, but this pattern suggests risk."
Of course, Shiller created the Case-Shiller Indices, which provide some of the most authoritative house price change measures available. They are market-specific and accurately track historical residential house prices over time.
The Case-Shiller system was instrumental in facilitating the launch of "investment products for those who want to bet on real estate's direction ... These derivatives enable hedgers to take a position on the direction of home prices either for the nation as a whole or for 10 major cities, including New York, Los Angeles and Chicago. They began trading May 22." The products are referred to as the S&P CME Housing Futures and Options.
According to MarketWatch, Shiller has acknowledged that in the short term, housing prices have cooled, and that could signal the end of home price appreciation. The Yale economist - who is not allowed to invest in the home price future index - believes that savvy investors and homeowners could use the index to "hedge against price fluctuations in their homes."
"If you want volatility, go to the stock market," Shiller said, according to MarketWatch. "If you have any doubts of that, take a look at it over the past six weeks."
U.S. June housing market index falls to 11-year low
By Rex Nutting
Last Update: 1:00 PM ET Jun 19, 2006
WASHINGTON (MarketWatch) - Sentiment among U.S. home builders fell for the sixth month in a row to an 11-year low in June, the National Association of Home Builders said Monday. The housing market index dropped four points to 42, the lowest since April 1995. May's reading was revised up to 46 from 45. Readings over 50 indicate most builders think business conditions are good or fair. The index was at 68 in October and peaked at 72 in June. It has fallen in eight of the past nine months. The index declined in all four regions of the nation in June, but still remains positive at 61 in the West. All three subindexes declined in June.
What do you mean you guys DH, I am not bashing the stock. Open your eyes before you spew your BS!
If thats the case you should call him and ask the questions you want answered.
How were you expecting that they paid for those wells and Flying A stock. This is how pennies capitalize, the next month should be pretty damn good and you probably wont get shares any cheaper than this week. I hope he is buying back shares at these prices.
Company can't dilute if the first half hour or last half hour of trading! So another one of your guesses is wrong! What price are you hoping to add shares Lol! 11Am only 16 million shares traded stop the madness. Lol.
Deep Well being drilled in B.C. spuds tomorrow, Flying A 17.5% interest. Shallow well tight hole until July-tying into major gas pipeline my guess and Abilene #3 & #4 are suspected to be the best wells of the first 6 to be drilled. Next month will be very good for the stock.
2 on the bid at .0001? Hoorah!
I think it will be a weeks before they hit depth, hoping this is the bottom in the mean time. May get some news regarding their investment in FAPLF Flying A Petroleum, Flying A has a 17.5% interest in a deep well being drilled in British Columbia-supposed to spud tomorrow.
Is that why it started going up? What if there is no announcement does it go back to .0004 X .0005. I know they are working hard on a U.S carrier, but short of that .001 seems to be the limit.
I agree if they get into the U.S> it will be nice. I have been trading it for months and it has made these moves before and drops back a couple of ticks.
BKMP almost all sells at this point, without news I dont see it moving higher.
I scalped it too, probably end up chasing it later on.
MF, I asked the question via the website instead of direct email. Lasttime I spoke to PR he said we should startseeing news next week, well its been longer than that. So far their idea of soon doesn't coincide with what we think is soon.
TFN maybe we will get a bid above .0001, shareholder update will have to have something pretty substantial for the trading to get any better.
FWIW I just got a response saying we will get a shareholder update very shortly.
Would be nice if the company or IR responded to Emails. We have a bid today .0001 Wahoo!
That is good news, thanks Art.
IHDR the A/S is 2 billion period, check the Nevada Secretary of State's website. In order to raise the A/S the company must first amend the articles of incorporation. That has not happened yet, if they do increase it,I'm sure it will be to 2.5 billion not 4 billion.
Last time I checked they had no plans to move to the OTC, so why would they be thinking higher. They are trying to grow the business, that is their focus.
Gold had a nice bounce today,I expect to be much higher by year end.
FA I know, at the current price that is only a market cap of 8.4 million. Mine reserve report and decent gold results from Plum should push it over .02.
FA managed to add at .0105 and .0102, think it is a gift.
GSPG should release the mine reserve report in the next2 weeks, I expect comments on how much production they had for the quarter around the end of the month.
I am adding GSPG here.
I imagine it would be a new shuffle.
APPL breaking out IPod update mentioned by Hon Hai at their news conference
http://www.chinapost.com.tw/business/detail.asp?GRP=E&id=84130