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Aim High is showing no compensation for this pick. IMO, they recognized the set up as being very strong, and made the decision to publicize so they could continue to build their credibility. Looks like they made a wise decision. As a result, they will be able to build a stronger "sucker list", and will be able to get paid more $$$ for their compensated promotions. All this is conjecture on my part.
IB was kind enough to locate 100 more shares to short at market open today. Short position is now 150! Hoping for a rapid collapse of share price. Looking good today...
I think it would be better for you to past messages like "I predict Vinny is going to manipulate the price back up to $40"
They would then let the pps drop rapidly to $10 just to prove you wrong.
In the absence of 236T568, and because I still have 50 shares in a short position that have survived IB's ruthless buy-in algorithm, "The 18's are here!"
And according to TMcNasty, hard mailers hitting now. That usually means one more pop in pps, then price collapse.
CLDS is a pump and dump. I recommend that you stay away. If you check their SEC filings, you will see that they have no revenue and no assets, yet have a market cap of over $100,000,000.
My order to short at IB finally filled this morning when the market opened. Looks like I missed the top, but am willing to hold long term with a target of sub 0.50. Already 20 percent of the way there in just one morning! I am hoping for a rapid collapse of this promoted but otherwise worthless stock...
But after reviewing the SEC filing, I will maintain my massive 150 share short position strictly based on the over valuation of the company. All the other red flags support my short bias, as well as providing endless entertainment!
Not sure that I have ever seen an auditors letter in an SEC filing where the signature block omitted the name of the auditor! I can understand why this would be the case with MDBX given that their auditor faces charges from the SEC for fraudulent audit practices!
Actually, most serious stock promotion scams involve companies that are fully reporting to the SEC. Got example GOFF and GNIN are active scam stock promotions that are fully reporting.
Perhaps the focus on MDBX is because it provides a challenge to the researchers. It is too easy to look at SEC filings for companies with no revenue, no assets, no product and call them out. Finding out that the MDBX auditor had been found by the SEC to have submitted fraudulent audits took a bit of research by SamSamSamIam, especially when Medbox was careful not to actually name their auditor in the PR.
Having a product and revenue does not mean a company has not been specifically established as a scam. Spongetech had products, revenue and an ad at the Superbowl, but had been established solely for the purpose of stock promotion and insider enrichment.
I'm back! Buy-ins are all part of life for those of us who short promoted stocks. I managed to re-establish my short position this morning at a slightly higher price than my buy-in price on Friday. IB claims that their buy- in algorithm is last-in, first-out, so I will be lucky if I can hold on to my position. Fellow scam company N-T-R-R (disclaimer - short) put out a PR this morning that they are looking for new synergistic opportunities in the medical weed world. Maybe we should hook them up with MDBX!
It is with great regret that I announce that my massive short position of 100 shares has been subjected to a forced, no-notice buy-in at IB. I am grateful to Vinnie et al for the opportunity to ride MDBX down from $47 to $20 for a profit of $2,700. As I no longer have a position, I will no longer be reading the posts here, which have provided me with many hours of entertainment. Good luck and best wishes to all!
OK, we are starting to stretch things a bit here. My guess is that it never occurred to MDBX management that anyone would research their auditor. I think they could have easily stretched out the SEC filing of audited financials for a few more weeks or months in a far less self-destructive way, until their goals of unloading paper were met.
The price level of "the bottom" depends on whether or not the promoters are planning another phase of promotion. If not, the bottom is sub-penny. If there is going to be another round, look for multi-day support at round numbers - 0.40, 0.25, etc. Now that my target of .50 for my short has been reached, I will exit once this round of price decline stops, wherever that may be.
Good employers don't ask their staff to do wash trading on their days off.
I don't think you should expect any movement on the audit today. As you can see by today's trading volume, MBDX staff have been given the day off for Easter Monday.
I second your analysis! Disclosure: short, may box if uptrend continues. Target below .50. Am willing to wait weeks or months for the eventual collapse. I am praying to Saint Timothy, the patron saint of shorting promoted penny stocks, to protect me from buy-ins.
The initial suspension was in November.
Before the company was renamed Ensurapet Inc, it was named Vsurance Inc. (VSUR.OB), and was promoted by Beacon Equity, and other stock promotion companies. Like most OTC companies that are promoted, the price per share underwent a death spiral and eventually went to sub penny. Investors ended up with almost nothing, and with the recent suspension, have no way of even getting a pennies back from their investment. I am not implying any kind of "scam", but will let the evidence speak for itself.
As for his leadership in the Hartville Group, the last 10Q posted before the company stopped reporting to the SEC showed an accumulated deficit of $51,496,659. http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6250672
This is somewhat at odds with the PR issued on his hiring. "Among his many successes, his greatest accomplishment was serving as the founder, Chairman, and CEO of the Hartville Group. " If that was his greatest accomplishment, it would be interesting to see his failures!
http://www.prnewswire.com/news-releases/medbox-inc-hires-director-of-mergers-and-acquisitions-184418071.html
Regards.
VP Sales William Smith III SEC Suspension History
Not mentioned in the bio issued in the PR when William Smith joined Medbox is his past role as Chairman of Ensurapet, Inc. for which all securities have been suspended by the SEC for failure to make required filings.
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=26094548
No doubt in his spare time around the office, William assists with the preparation of filings for Medbox.
Disclosure - short a total of 100 shares, not because of silliness like this, but because the pps is ludicrously overvalued by any possible measure of valuation.
IB now accepting orders.
I am short and got my 24 percent short dividend for my current position. I was also short on the record date, but covered after the big dump. IB will not let me enter a Pre-market order with ARCA right now.
Thanks for posting that, my research was incomplete. I still have no idea how this will actually affect trading for the next few days, if at all...
Btw, the info presented re GNIN dividend does not make sense. The Ex date is normally 2 trading days before the Record date. So one of them must be wrong. I have no idea what is going to happen. If the dividend is processed as a forward split, then many retail traders will be unable to exit positions until their brokers receive the new allocation of shares. This is what happened with IDNG, which was promoted by the same group that promoted GNIN. With IDNG, most retail traders were unable to exit their positions during the massive dump in June 2012. Disclaimer - short GNIN.
Go to www.otcbb.com/dailylist and search on GNIN
Hi Chris, it is not clear what benefit there is to the promoters of issuing the dividend thereby freezing the ability of retail traders to exit positions UNLESS the promoters have a huge short position and the buying has dried up. I held a short position through the INDG dividend, but at the time could see no benefit for the promoters in doing this. Any thoughts?
OK, I am short, but I really was expecting a multi-day bounce here. The pathetic nature of the bounce is encouraging!
See also ibkb.interactivebrokers.com/article/1146 for explanation of how IB inflates borrow fees. H/t to goose trades.com
I only short OTC and OTCBB stocks. These markets are not eligible to use AQS at IB, therefore there are no borrow fees paid to lenders.
I am short from 47. IB does not auction borrows, so fees are usually low, often no higher than the cost of margin. I am paying $7 per day for my entire portfolio of shorts about 10,000 shares pps average about $2.
Shares were shorted at IB.
One short's view: I am short exactly 100 shares of MDBX. I have no interest in increasing my position size due to the risk of a price spike with low liquidity. I am short solely due to the fundamentals of the company. It is insanely over-valued. I have no idea if the insinuations of filing irregularities are true or not, and I really don't care. I will remain short until the fundamentals change or my target is hit. If the pps reverses and the trend changes upwards, I will box my position, and then go net short when the down trend resumes. I do find a lot of what is posted here entertaining!
Ca-Ching! Now all I have to do is wait for IB to accept orders again so I can cover my short!
On to the next one? Are you kidding? I am still DLFSS on GNIN. I am a conservative Canadian, don't trust SureTrader, IB is the only option, and not coming through with borrows.
DLFSS - desperately looking for shares to short.
fwiw, I have a small short position at Interactive Brokers, tried to enter an order to increase my short position size, and found that they no longer allow shorting of MDBX, regardless of whether or not they have shares available. As IB is the number one broker for retail and institutional short selling, any future claims that MDBX is the target of an "attack by the shorts" will have even less credibility than usual.
I am watching with morbid fascination. No shares available for shorting at IB for the last few days, sigh..... At least this time I can't be lumped in with the hordes of evil shorters attacking the poor defenceless longs, no matter how badly I wanted to join the battle.
I am 100 percent short biased long term with GNIN, but I must admit that this promo is a work of art! Well done Brighton et al!
I can confirm that there were shares available to short at IB premarket this morning. Also, I have been short for a number of weeks, got bought in yesterday afternoon, but it was reversed this morning. I am short solely due to the ridiculous market cap. All the other indications of hanky-pinky are just icing on the cake, if they are true.
This is the first time that I have been short a promoted stock that has been suspended by the SEC. Any suggestions on what to expect - timeframe, pps drop expectation etc. I have a warm and fuzzy feeling...
MDBX is so ridiculously overvalued that I am not really concerned that they may have issued additional shares without due disclosure! But here is my own unaudited, uncertified disclosure - I am short for the long term continued collapse of the share price.