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'Stick to the stock' is a very apt expression, for most who hold HQNT shares seem quite stuck as this fecalith continues it's floccinaucinihilipilification.
Hoist the jolie rouge!
Strange dyslexia. Of course you meant to write "non-professional investor", else it would be an unprofessional non-statement.
No 10KSB yet?
The stock always attracts the batty opinions of professional non investors!!!
Hoist the jolie rouge!
From a RB illiterati...
i guess it's sheik to be a basher now.
Somewhat OT, but definitely oopsie...
Has anyone else noticed that Clinton's new library looks like a house trailer on blocks?
Here the idea is taken to an extreme:
ROTFL!!
Hoist the jolie rouge!
Are you pumping this crap? The PR was a typical penny trash LOI announcement of an unspecified 'exclusive' deal with an unknown 'network' of kiosks. It, like the rest of the releases from this Montreal-based garbage, is worthless and when the insiders are done suckering a new crop of wannabe bagholders into buying newly-issued shares at inflated prices, they'll take a nice holiday in warmer climes. LOL!
Hoist the jolie rouge!
Of course, the answer is one of my fave lines...
YA GOTTA BE QUICK!
LOL! Good luck.
I seldom seem to be able to snag shares at the low price of the day on any stock!
You can do that with any stock that 'rolls' in a regular range, spockster, so why choose to play with hundredths of a cent?
LOL!
Thanks for your kind offer, but I don't keep 'notes' per se, but rather an accumulated knowledge of where to look for information and links to sources. In other words, I don't always know the answer, but I do know how to find it quickly.
There are numerous resources available on the topic of avoiding penny stock scams, some quite prominent; but they will always go unheeded.
And a book will not likely be read. Indeed, Only 15% of all books purchased are read; and of those that are read, less than 20% are read all the way through. Books today are of more use as furniture--hence the popularity of the 'coffee-table' book. Sad, but true.
I don't mind being 'tagged a basher'. It's a meaningless term.
What are 'phantom-shares'?
PennyWorld- You replied to BigDon's query about whether or not the SEC could prevent a pink sheet stock from publishing their financials with a comment in post 1496 that I agree with:
pinkies can exploit the SEC rulings by NOT providing numbers. They are not breaking the law. The law actually encourages them to be silent which is a very bad thing. The SEC should change the ruling to at least require some minimum level of reporting. Fayiz loves the fact that he can hide from everyone. That takes the heat off of him to perform IMO.
My post about the 15-12g filing simply provided some detail about the mechanism that as you note 'encourages silence'.
Indeed, your post was more directly critical of the CTKH CEO than mine, so I don't know why you're so upset.
As for writing a book, thanks for the suggestion, but I'm content to share what I have learned and continue to learn here in the message board medium. I probably don't have the patience to actually produce a book that would sell. LOL!
I told you, PennyWorld, that the date doesn't matter on that filing. The Form 15 has been approved and is still in effect. It's the essential document that enables CTKH to trade at all without filing periodic reports, etc.
There is no 'shock value' to the document at all anyway. It's neutral, simply enabling a specific status for the company. I posted about that filing simply to inform. Look at how many here had no idea that Rule 12g4 even existed before I posted about it.
I've been exploring the nuances of securities law as applied to penny trash stocks for about five years now. I enjoy examining the fine print to see exactly how the insiders get away with ripping off millions of dollars in broad daylight.
Here's one of the best resources available:
http://www.sec.gov
David Hannum was right!
Indeed, it does, but the law was written before the age of online trading and automated pink sheet quotations that give the junk stock marketplace credibility that it doesn't deserve.
You'd be amazed to know how much insult and innuendo was thrown my way on RB when I pointed out all the flies in Cortellazzi's ointment as early as last February. But as usual with that kind of stock, the (ahem) bashers were right.
If Hilal would simply file an annual report with audited financials and a signed Sarbanes-Oxley declaration, he would eliminate the doubt that keeps this stock from moving up in price. Of course, that statement assumes that his press releases about revenues have been accurate. Contrarian that I am, I assume exactly the opposite and don't expect that filings will be coming anytime soon.
BigDon- No, CDVJ/CSJJ have no real business whereas Cetek apparently manufactures and sells unique, high-quality products. There's little doubt but that Cortellazzi's companies are (ahem) somewhat less than legitimate.
Contrariwise, Cetek seems to be a legitimate manufacturer, but I have strong reservations about its nanotechnology claims. I suspect it's basically a ceramic prototype house using the lure of the nano bandwagon to sell shares. So far, its press releases are not quite synchronized with reality, especially as regards the Motorola relationship; and I'm naturally skeptical about any non-reporting pink sheet company. Cetek may be profitable (although we can't know for sure until we see audited financials), but it's also quite diluted with an estimated o/s near 5BB. Its transfer agent will not release current figures--another red flag.
BigDon- The rule references 'total assets'. I might as well post the full text of the rule for you:
Rule 12g-4 -- Certifications of Termination of Registration Under Section 12(g)
Termination of registration of a class of securities shall take effect 90 days, or such shorter period as the Commission may determine, after the issuer certifies to the Commission on Form 15 that:
Such class of securities is held of record by:
Less than 300 persons; or
By less than 500 persons, where the total assets of the issuer have not exceeded $10 million on the last day of each of the issuer's three most recent fiscal years;
http://www.law.uc.edu/CCL/34ActRls/rule12g-4.html
Cetek fit both categories when it filed Form 15, as the filing notes that the company had 128 shareholders of record at the time. Shareholders of record does not include those shareholders who have their shares held in 'street name' (in trust by the DTC).
I beg your pardon, PennyWorld, but I did not post about the Form 15 for 'shock value'. I posted about it because there was a discussion regarding filings and financials. Since the date is prominent on the filing, it is absurd to think that I posted it as fresh news.
But by all means, beware of DueDillinger. LOL!
Hoist the jolie rouge!
If you're going to invest in stocks, you should learn how to read SEC filings. They're without a doubt the primary source of due diligence available. When a company does not file these reports, investors are disadvantaged by the lack of information.
Periodic reports are required by law of any public company with certain exceptions. Companies with less then 300 shareholders of record or companies with less then 500 shareholders of record AND less then $10MM in total assets are exempt from filing.
A company must file a Form 15 with the SEC to activate these exemptions, and Cetek did this quite some time ago.
You can find SEC filings for Cetek here...
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000824107&owner=include
...and here is the (Form) 15-12G filing in question:
http://www.sec.gov/Archives/edgar/data/824107/000082410701500008/f15-12g.txt
If you review the filing, you can see that Hilal checked the boxes for Rule 12g-4(a)(1)(i) and Rule 12g-4(a)(1)(ii).
The actual rules can be found here and the letters/numbers in parentheses refer to paragraphs:
http://www.law.uc.edu/CCL/34ActRls/rule12g-4.html
The 15-12G filing is an important document even now, for it enables CTKH to trade on the Pink Sheets without filing any periodic or other reports. I won't bore you with the history of this rule other than to say that it was put in the law to accomodate smaller companies for whom filing reports to inform investors of its financial condition is burdensome.
We've been all over this before, spree. You are the one who referenced an 'appeal' when in fact there is no appeal pending or likely being considered. You were simply wrong. Get over it.
Do you mean the October 12 release? There is no mention of an appeal and I doubt very much that there are any grounds for such an action. Here's what that release actually said:
We have met with the Company to review Judge Gilmore's ruling and are currently working closely with the Company to determine the best strategy for re-initiating claims against responsible parties in light of the court's ruling," added Pirtle.
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cbw%5C2004%5C10%5C12...
Re-initiating claims is NOT an appeal, spree; and a month later we've seen no action taken.
Cetek filed a 15-12G form to discontinue filing periodic reports. This is a provision in the law to accomodate small companies for whom the cost of filings is too great. If the company grows to enough value (I think it's $10MM) they must begin reporting again. As long as they don't file, they can't be quoted on the OTCBB.
Falsifying numbers or otherwise publishing false and/or misleading information in the form of press releases or other communications is a violation of securities laws. But the SEC cannot bring criminal charges, only civil actions. If a fraud is egregious enough, the Department of Justice can get involved to bring criminal charges, but it's relatively rare. See Thomas Hughes of ECNC/T/I for an example of a CEO doing an 8 year term in jail for fraudulent releases.
I'm of the opinion that marketmakers should not be able to publish quotes for non-reporting companies in any public venue such as the Pink Sheets. Unfortunately, there's too much inertia in the system for such a notion.
For a real horrific look at the SEC and some explanation about why so many penny scamsters get away with ripping off investors, visit Gary Goodenow's excellent site:
http://www.realityatthesec.com
Goodenow was a senior litigator for the SEC's Miami office, and he pulls no punches.
I guess it's the thought that counts...
REVENGE IS BETTER SEVERED COLD!!!!
Good morning chin...
Have you read the headlines at Our-Street?
Cue the corpulent cantatrice. LOL!
Does one write on toxic paper with a poisoned pen? Where is 'bolivian' anyway? LOL!
Wanna see something REALLY scary?
Gotta love this one...
I don't want to hear about delusion of stocks
or talking about this is a POS by just saying there are
millions of shares out there.
Doesn't work like that, gump...
If marketmakers sell shares that they don't yet own, there is an open short position on their books. This is a liability until they buy shares to replace the "virtual" (you'll call 'em "phantom") shares they've sold. They can't book their profit until they've covered, so there is no motivation to keep selling as you describe. Contrariwise, as Janice points out, marketmakers prefer to have no open short positions; so they're motivated to cover asap.
.. he keeps making new ones.
He really does not want to buy. The name of the game is sell, sell, sell. He covers parts of his short if and when he feels like it.
Jim- Spelliscy used to post here on IHUB...
http://www.investorshub.com/boards/profile.asp?user=31105
I don't know why Matt threw him out.
This one's classic:
"looks like the time has come to pull up steaks and move on and take the lose...I wish all the longs THE BEST OF LUCK. I just can't hold this POS anymore!!!!!GLTA!"
Same guy, Black-Jacker. No doubt about it. There is a requirement for disclosure of felonious history of corporate officers within a certain number of years (5 as I recall), but these are non-reporting trash stocks anyway. There's no law against running a company by someone with prior fraud convictions, but one must wonder about the sanity of those who invest in such companies upon disclosure of the facts.
...and now for something completely different...and off topic.
A correspondent mentioned that Pelangio Gold TSX-V:PLG PLGOF.PK announced a gold strike recently. I figure you're the guy to ask about this kind of news. Are you familiar with 'em? Their price nearly doubled, and I wonder if the news has been thoroughly priced in by now.
A "man without a mission"? Your phrasing betrays your own bias and intent, chin.
My 'mission' is simply to enjoy this message board medium and jousting with parvanimous touts and pseudologues is an amusing pastime. It's particularly amusing when the stock they're touting is sinking in a quagmire of its own festering sordor.
Is HQNT a good stock? It surely doesn't seem like a very good investment to me.
Thanks Greely!
Most of that info we already knew, at least those of us who can read French. LOL! And yes, the airport itself and DASH-L is exciting indeed. Cortellazzi has been 'piggybacking' on that excitement.
What is most infuriating about CortDev is that Cortellazzi has been presenting a project at the airport as a faite accompli from the beginning--even going so far as to project a Spring groundbreaking and $3.5MM in revenues this year. Of course, nothing he's ever written about the CDVJ airport project has been true.
If I were in your position, I'd forward all the PAVP and CDVJ press releases to your contact and to the RCMP, beginning with the December 2, 2003 release that started it all.
...the Government anticipates that a decision as to whether charges should be presented to a grand jury with respect to activities at Universal will be made by mid-October 2004...
gump- I think it's time you put these message boards aside. They're addictive and maladaptive. (I know because I'm totally hooked myself.) The difference is that you're a score of years older, and as the song goes, "shorter of breath and one day closer to..." well you know.
You have enjoyed a relatively interesting and occasionally exciting life. Have you ever considered writing an autobiography? If not for publication, perhaps just for your grandchildren and their little gumpers, etc.
A perfect description, BigDon. LOL!
It's already imploded, gump.
Not with a bang...but a whimper.
You've been told many times before
Messiahs pointed to the door
No one had the guts to leave the temple.
--Pete Townshend.
NXIA? LOL! Surber holds something like 8MM preferreds that have a 1:500 conversion/voting ratio giving him 4BB votes. He also beneficially owns 127MM common.
All the gory details:
http://www.sec.gov/Archives/edgar/data/833209/000107054404000126/0001070544-04-000126.txt