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Myself as well, i didn't know about the memphis hotel. That was a surprise to me. Good luck Bally!
I've done a serious amount of DD on these folks. They have serious assets for a pinksheet company. There are some that are concerned about the management acting in our best interest. Everything i've seen looks to be like they indeed are. Time will tell though.
Hmmmmm, if you say so. I've watched many of these for years. 99.99% of them just fail and die. The SEC is kicking pinks off faster than ever.
Pink land has always been a den of thieves, however i think lately the thieves have multiplied by great percentages.
Up isn't up regardless of volume. A small trade of .0002 is not an indication that the price will hold. If you didn't sell at .0002, then prepare for a 50% loss or hope you can wait on something to generate enterest again IMO. If he makes the F/S go, then you folks will fare OK i suppose. But if he falters like he has on all 900 other issues he's said he's doing then best of luck.
It was my post on RB that he brought over. I still think many things are going good with the company. I'm going to look into the auditor. He was the auditor for CMKX as well. If this is the way he does business, i'm about to open a serious can of worms. We should have his license pulled if he can't fulfill this. Audits are straight forward. It's either the auditor or the company. I've seen to much of the company to believe it's them.
Auditors may not give pinksheet companies a fair shake either, i don't know.
Best of luck to us.
ROFLMAO. Ok money bags, show us how it's done.
Read the post with all the links to Andrea C. The man is a wholehearted crook. I think it's pathetic that the SEC continues to turn a blind eye to crap like this. He's probably in cahoots with someone, bought a heap load of this stuff at .0001 then started all this massive F/S crap to force buying pressure.
I never thought of it that way, but he could turn a 100% profit like that. Now all he has to do is lay low, continue BS pr's and do it again.
The SEC should institute a "Pinksheet" set of uniform documents that should be turned in quarterly that information can be compiled out of Microsoft Money or any basic accounting software. Pinksheets has become the fleecing ground for the online investor. And i for one thought Mr. Bush had a good idea with his market investing idea, but not in a setting where theft is accepted and helped along due to lack of ANY enforcement. We need to push for change in stuff like this. CMKX shareholders hopefully can push the boulder, but it's going to take everyone to push it through wall street. Sigh, enough of my rants... LOL
I agree, and unless you have very substantial assets like GE or Ford, then anything over a few hundred million at best is nearly suicidal. However, i can say i have played the pinks alot as it has a certain appeal. But a few million shares is what it takes to build and hold price pressure.
It makes absolutely no dam sense to do a reverse merger after doing a massive forward split. This whole fiasco doesn't make sense to me. Best of luck to you folks.
Crimson, I don't have alot of faith in this, however you never know. It may pan out. I may be the one wishing i had got back in, i doubt it, but you never know.
Best of luck.
Correct Lung, that is how it usually works. However, the company has stipulated that you get certs. You will (should if my understanding in this is correct) get a paper certificate in the mail from the TA, Broker, or whomever. In order to sell those paper certs they must be sent back to the broker and turned back into street shares. I don't prefer paper certs due to the lag time, you miss spikes because of issues like this. However, if you plan to hold for years and not look back then certs help take the pain of should i sell or not out of the equation.
Good luck to you.
Possible, but those list's aren't full. The brokers show up with totals on them. Perhaps they would contact brokers get breakdowns and have TA forward individuals to brokers then they forward them to shareholders.
I've never expierienced anything like this, i wish you all the best and hope it works well for you. I for whatever reason am to leary about this one. I may regret it, don't know.
Best of luck.
It may have bids, it just may not register. Bids may be below .0001.
I'd not worry about being bidless either. It's not going to mean alot. This F/S is drawing incredible attention.
I could be, i'll not dispute that. I too have those useless shares in my account. I'm quite tissy about all that. However, street shares are different from Certificate shares. If the Broker is forwarding an actual cert to you then check with your broker to find out what it takes to convert those back to street. They will not just put them in your account, they forward the cert to the T/A for verification before putting those shares back into street and crediting your account.
Kmil, the A/S for CMKX was 800B, the O/S was 703B and some change. It had been over 2 years since it sold at .0003. In the days of hearings and testimony, etc i heard many shocked people yell when they sold at what they thought was .0001 but the brokers told them when the money was in the account that it fell below that mark. The software showed .0001, but actual amounts varied from .00009 to less, usually less.
I'm uncertain what the A/S is for CSJJ, but i think it's above 10B. If memory serves me correct, look for an A/S of 500B after the divi or whatever this is.
You will have 150x the shares, but you are going to have them in cert form. You will likely have to pay a fee to get them put back into your account, not to mention time delays. If they are restricted, it may be up to you to pay to have the restriction lifted.
I'm faced with these same issues from spin-offs i got from CMKX.
Best of luck to you all.
just4fun, no word isn't necessarily a bad thing. Granted it grates upon my nerves as well, however we know nothing more or less. Why don't you call the auditors? They can at least tell you whether they are employed with them still or not.
You are correct. I've got a pis load in this. And if they can get their stuff straight i think it's going to boom like no tommorrow. I know quite a few folks holding 1M or more shares, myself included. The float isn't that big and with limited shares available ANY good news can send this spiraling.
I'll hang with you bally, and i'll help take slack out of the float if this continues to drop. LOL, good luck my friend.
that isn't going to mean squat. Don't expect a serious short squeeze, you'll be very disappointed.
or perhaps a small trade went through at .07? I do believe your correct in that it is a misread, but hey i'd like to think we saw a .07 sell.
it's got more to do with supply and demand of the stock than the Market Makers.
Think about it, there will be enough of this stuff for every man, woman, and child to have 5 shares each once the F/S happens.
This is likely going to be boxed at .0001
Good luck folks.
Till last year, they honestly didn't have enough worth auditing in my opionion. Who knows. We sit, we wait.
Well, they have not issued a statement of removing them. That in itself is hopeful.
Josh, it's what many refer to as Level 2.
It's neat to look at, however, i've never had it save my arse. LOL
I'd like to know myself, however have patience becuase it's all we can do.
Lungman, FYI, the companies i've been following and have done well with so far are
IBCX - Ibac Corp, used to be symbol ICAN, did a R/S. I've done massive amounts of DD on them. Folks on RagingBullshat have it in thier mind i have an agenda, however none of them have visted the hotels owned by IBAC like i have, or done near the footwork on the company. There is also an Ex-employee of the company posting there that used to continually bash and disrupt the board, but i haven't seen him lately.
TGC - (Amex) Tennessee Gas and Oil Company, this is a near debt free gas company here in Tennessee. They have gone from .24 to 2.00 in less than 9 months. I think they are on the way to 20+ in a couple years.
HEC - (Amex) Harken Energy Company, worth a look, used to trad at 60-80/share about 3 years ago, they crashed with TGC. I think high oil will bring these guys back to health as well. Indebted company, but a long term company as well, in buisness over 20-30 years.
LU - (NYSE) Lucent, i've followed for fast trade purpose, not a long term holder for me.
Good luck with CSJJ fellows.
Just throw your order out, i'm betting it gets filled if that's what you want.
Correct i sold at .0002. It took awhile masilv, i had the order out for almost 3 weeks before it sold. I use mytradz.com. Mine sold this last time when the price spiked to .0003. I held on for aproximately 5-6 months, not long but i became fearful of this company. To many empty promises in my eyes.
If you want to exit, my best thoughts are this, either put out the order at .0002 and hope for the best or wait until the divy gets passed out and if it doesn't sell in 2 days throw out an order to sell at .0001 then take your certs get them back to the broker fast as you can and sell off enough to average your own cash back then hold the rest. At that point your playing with OPM and it's no loss to you. If it flys high, you'll still hold shares to reap some benefits.
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masilv. Realest said he sold at 0.0002...
See post 1241.
I don't think it's an oversight. I think Andea has made it plain that he needs the cash and is going to dump his shares, if he gives you certs, there is a significant delay till you can get your shares to the market.
Good luck though.
Do you have any stock certifacates? I know Ameritrade charges a fee for certs. Penson charges about 75 bucks i think.
Anyway, if your playing this, i hope you get your penny. Throw poor ole realest some if it happens cause i'm not in this game. LOL.
Best of luck to you guys. I urge you all to call your brokers to find out what their procedures are for a distribution like the company is talking about. It may just save you from some nasty surprises or inconvieniences.
If you say it's good news, frankly i think you guys are in for trouble.
I do wish you all well. I'll be sick as can be if this travels to a penny LOL.
If the company dictates certs, then the Broker may have to forward that information to them. Most likely, the Broker will give them NOBO/OBO information and forward Your Name and Position to the T/A. The T/A will produce the documents and ship them to the Broker, the Broker will distribute them to you and likely charge you a Cert Fee.
Bank on it, Certs are money makers for the T/A and Broker
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"Transfer agent doesn't have our home addresses...
Brokers do. It would be a major task for the broker to send certs to everyone, then receive them back for entry. Brokers have enough to do without adding on extra workload."
Not true Ug, if the company says you get certs then the Broker SHOULDN'T issue you street shares.
But you are correct, all F/S i've expierienced i've gotten either certs or street whichever i held.
"realest. That isn't correct. Re: brokers...
...On the PayDate the transfer agent sends out the certs to each broker who then distributes them to client accounts where they are entered as free-trading shares. Ameritrade will not send the certs to your account unless, possibly you have closed your position in the stock. Even then, I imagine they will hold them and await your instructions. This is routine business for most brokers, at least, that is my experience."
This statement is misleading sorta, if you have sold your position prior to the Ex date you won't qualify for anything. Pay Date is the date of record you receive the shares.
I have no idea honestly. I'm being told that everyone is getting certs that no street shares are to be issued. Frankly, i don't see how this can be forced upon shareholders but if they do the F/S with certs then brokers should have to submit to the T/A for you.
If they do it like they should(in my opionion), then no problem.
zippo. I sold at .0002, also where i bought at.
Correct.
When you send them back, they have to verify the cert via the TA. What can happen is that everyone rushes their certs back to the brokers and create a bottleneck at the T/A. When the cert pull for CMKX occured (still is occuring) it has taken people as long as 6 months to get certs. Don't forget, the T/A handles more than just your company you it's a stand in line game. Granted CMKX has some 40,000 shareholders. Perhaps this is nowhere near.
I'm not saying this is a bad thing with certs, but if you've not expierience this, it can be troublesome to get them back to street shares.
I highly advise ANYONE to call their broker and find out what delay there is in this process. P.S. Get it in writing via email, they will tell you anything on the phone.
I've expierience this first hand. You have to call into your broker and have them place the order. They charge like crazy to do that. The quote will show .0000 so as it looks worthless. Depending upon the software that each broker uses, some may see .0001
I've heard that Ameritrade is wanting to add a decimal so you can see 5 of the 6 trading places. But i don't know if they have done it yet.
If you have shares in Ameritrade, them Ameritrade should forward your certs to you.
You do know that it can take weeks to change your certs into streetname... you may want to check on this. It'll be a bummer if you can't sell your shares becuase they are in cert form and the price runs like heck.
Penson takes awhile, i don't know about Ameritrade or the rest.
That is your choice my friend. Supposedly they are auditing. We wait, we see.
Yep, revokation is a downside, just ask any CMKX shareholder.