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The $1 mark significance is something I became aware of after some companies I have invested in announced delisting notices unless they returned their share value to $1 within 180 days. The initial share price requirement may differ, but I am not a professional investor and cannot quote the exact requirements. I suggest investigate the NYSE and NASDAQ web sites for listing requirements, or ask a brokerage if internet searches do not answer your question. Hope you can find it easily.
Options activity driving this???
$1 minimum must be maintained, but also other requirements. According to my understanding.
ProfessorCUNY,
I share your detestation of reverse splits. One special case may be, however, when the result is a price above $10, which is a minimum share value for certain categories of professional or institutional investment. What do you think?
Bushwacher-- there was a plan to process ore for others, and talk of a permitting advantage retained by SFMI that would facilitate this plan. No idea what happened to that plan, but I hope the loyal shareholders will be treated honorably in resolution of the difficult situation.
I pray Carmine is right. They say hope has no place in the markets, but I choose to believe faith and positive energy have a place in the workings of the Universe.
May I respectfully suggest no company is going to spend time or risk responding with not yet public info on any message board anywhere.
Bushwacker -- there was a plan to process ore for others, and talk of a permitting advantage retained by SFMI that would facilitate this plan. No idea what happened to that plan, but I hope the loyal shareholders will be treated honorably in resolution of the difficult situation.
The right people can attract intelligent investors, however....
Something more fair to shareholders should be done; that is clear.
Thank you for your analysis of the situation.
What do you mean about "canceling shares"? Do you mean some part of the more recently issued dilutive shares?
It would take very little to send this up -- there just has to be a solid plan, ultimately, that does not further harm patient shareholders.
Bon chance!
Been depressing, and charts mean nothing on such stocks, but it could conceivably recover to .03-.04 or more.
Sure hope you're right.
Smoke, I didn't say you fabricated anything.
Why is GHDC soaring?
If such a statement was made inaccurately by anyone with a vested interest in acquiring control of the company, that would be problematic.
Martin1 wrote:
Re: Up In Smoke Post# 64721
can you provide a link that proves the claims were sold at auction ?
that would be good if we could put this to rest.
Replies:
He can't
carmine_langone on 6/18/2015 2:56:04 PM
Yes, it looks good.
Thanks for your info and validation of the discrepancy. Yes, I hope their future is bright!
Regarding the chart posted: another data base has very different stats of EPS 0.15, and P/E 6.67. I do not understand the discrepancy.
Thanks! The options contracts pressures are just another layer of influence i often forget to include in my analysis, but have at times been harshly reminded... When price patterns seem otherwise irrational, the options contracts action is worth a look.
One learns to look at the distribution of options interest on these as well. The Masters of the Universe seem to have an odd ability to place themselves so as to make out like bandits on low probability options contracts. How they drive the prices to those, if only briefly, is another story. $1 is not impossible.
Look at the EPS and P/E ratio, in relation to share price. Is this for real?!?!!!
Not this week; looks like they have agents placing $12m in shares at about $1, with market influences ranging shares from 90 cents to 1.00-1.10. Only about 25% or less of the 12M shares were placed so far, as far as I can tell. A lot depends on how the agents are going about placing tranches. I'm like you, trying to get back to par, and missed a chance the last 2 days. HOWEVER, the chart did not give me any clear sell signal on daily and longer intervals. This led me to "hold fast" for now. I think it can get above $2 by September if not much earlier. News and product acceptance are wild cards for technical analysts here.
Note we are also end of month, late May doldrums as well, pre-weekend, and after a long weekend, etc. I really don't see it falling apart near term, despite some 20% roller-coaster fluctuations. Forgive me if I'm wrong in my analysis. I am not a professional analyst.
Okay, news item of May 27, fund raising round, $12 M +/- $840,000 handler's fees of 7%.
Might match it's past peaks above $2 in the past couple years, or better, on the remarkable recent volume. There has to be a solid product development story to maintain this, but right now the chart is the news.
Go Goldland!!!
Smoke, you misread my comment. There is $21k in bids to buy at .0001 every day, that is left on the table by a potential seller. Why would that be if the shares have zero value?
Sounds like anyone with proper funding would just build a new mill and start over without all the bad blood.
Life is too short.
Thanks, Bushwacher.
It doesn't figure why one would leave $21-24,000 sitting on the table every day, if the shares were truly worthless. But then, what do I know...
I'm sure I know far less than anyone else, especially yourself; I can only comment on what pattern i imagine I see in the share price behavior.
I'm sure I know far less than anyone else, especially yourself and Smoke; I can only comment on what pattern i imagine I see in the share price behavior.
Sometimes only the fox knows where the fox is going.
Keep that thought!
Goldland wrote: "SFMI is a BUY"
I am uncertain on that point, but clearly, whoever owns the many shares out there are not willing to sell them at .0001. Even if they could get $22,000 in a day by selling to what is bid day after day. There is not much visible supply at .0002 either. An investment of $10K at .0002 would possibly bring the stock back to
.0003. It seems as if the stock has been held down at .0001 to .0002. Who can say what would happen if the artificial suppression were lifted, in response to a genuine positive development.
Smoke wrote, in part: "SFMI WILL NEVER PUT OUT ANOTHER FILING"
May I respectfully point out, that such inaction would seem to be inconsistent with the Form 12b-25 filing of March 2015, indicating the filing would only be late, and see the item marked "3)" of that form.
I have seen cases where some very small companies, or those in periods of dormancy or transition -- for example, a defense contractor during major defense funding cut-backs, while re-purposing their mission, have exercised an option that exists to be excused from filings after becoming OTC/Pink sheets.
Thanks for sharing this information. Looks like they are doing some things right after a long set-back. Looks like it could potentially challenge it's 1.50 thrust eventually.
Plausible. Depends also on oil trend.
Near summer 2013 range but 2012 was below 1. Falling further could leave it vulnerable to falling to 1, but the biotechs under 10 do not always lend themselves well to classic TA.
Options-related pressures are another distorting influence.
Due diligence on the character of management is often worthwhile in these matters.
Well, I hope SFMI is NOT dead, as you say. With so much recent internal change, it would be understandable if new officers needed more time to prepare reports, and fully understand the situation.