Make it, but not at another's expense
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Tseagraves, hard to tell. we know how much shorting is going on, and the volume has been really light...
I think what we have going on is shorters playing both sides of the fence here. Seems small volumes can move it up, so I believe the stock is coiled to pop. On the flip side, small volumes are pushing it down too, so I am not sure how much the MM's are in cahoots with these shorting groups, and how their algorithms are setup.
All I know, is regardless of how they want to play this in the short term, I will benefit in the long term.
Best to you
As an example, Caterpillar...short volume is 6.4 million shares as of Mar 31st...
So, it happens to them all.
Naked shorting is more of a problem down here in the Pinks...Pinks are kinda like the Ugly red-headed, freckled step child...ignored.
again, legislation would fix this, but when have you know Congress to act in the little guy's favor?
Fiat, almost every stock gets shorted, from OTC Pinks to the DOW. It's a gambling practice and again, it should be illegal period.
If it were completely gone, you would likely start to see real multiples of stocks vs what we have right now.
We could easily see 6X - 10X multiple based on conservative guessing, but the sectors we are in could make that multiple even larger.
Fiat: "The typical fee for a stock loan is 0.30% per annum. In case of short supply, when many investors are going short on a stock, the fee may go up to 20-30% per annum. Even though the stock is borrowed by an investor, the dividends still belong to the lender."
As for your question as to how long it can be shorted, that is typically an agreement between the borrower and the broker...the only way to stop this is through legislation...they can use Bernie Madoff as an example of what happens if you get caught cheating or breaking the law.
My $0.02
IMO, tomorrow's Shareholder Letter, we may likely hear about Uplisting to OTCQB and/or filing to SEC for that and timing.
We know IoT will be a topic, and likely a strong positive update, otherwise we might have heard management speak about "further testing needed" by now.
Hoping M&A is also a strong topic in the letter.
Best to you all...only a matter of time now folks!
peter, your message has been conveyed...
as the saying goes, let's "kick the tires and light the fires"!
Well said Nickels...now, let's start the engines and get ready to rock-n-roll...if tomorrow's letter indicates M/A news, or plans in the works, I think it will be hard to keep this down, and the new bottom prices are going to continue to move upwards.
Best to you!
Jersey/Fiat, let's hope for a rock-n-roll letter tomorrow!!
I will mention the verbiage thing to them privately...
Best to you both!
Now, back to business :)
Fiat, exactly. English/Spanish translations/understandings are NOT always the same. In the U.S., if English is our first language, if we try out our Spanish to a spanish speaking person, we think "I nailed it" but what we think we said, and what they heard may be 2 different things.
My final word on this, All I am saying is give the PR's a break...look, $900K is NOT Chicken feed...and if they can use the added capital for M/A, then that $900K can go a LONG way...
Best to All Longs!
Jersey, see my post to Peter...
peter, I agree, and I have commented to them on the verbiage, grammar, etc in their PR's (privately to them)
Being married to a person who's first language was spanish, the grammatical errors constantly appear, and Leandro is in that category, as well as a lot of the people on their team.
Try this, write a PR for them in Spanish, and give it to someone in a Spanish speaking country. What we think and write in English is NOT what we intended when translated to Spanish. Could this have been worded better, sure. But I look at numbers, not words...I will comment to them privately how they could've said it better...in time, this will be an All-Star company, and then we can expect a bit more quality in verbiage.
This company has been growing year over year, and while they are in the Pinks now, that will not continue through this year. they are actively pursuing OTCQB which will open the floodgates to new investors (even 212). Once that happens, the stock will soar, and soon after, Nasdaq.
so, IMO they are practicing like they want to play...people should avoid nitpicking...a person who considers themself to be an investor should look at the numbers, not the words. While "words" matter, actions matter more.
Best to you my friend! Be your brother's keeper!
Fiat, totally agree! For all those complaining that $900K was not "well over" I have a question for these people:
How many of you have ever said stuff like:
1) You "Always" say that
2) You "Never" listen
3) "I Do, 'til death do us part"
When you use these terms, you likely mean something other than what you actually said. It is a common thing in the English language.
As far as "well over", I am sure if you won $2mil in a lottery and the officials said you are also going to receive a additional cash payment "well over" that amount, to the tune of $40,000, I can guarantee that YOU would not bitch about it.
So cool your jets, the company is performing great and doing even better than "on track"...if you are disillusioned, sell and move on...tons of other penny stocks out there if you feel this one is not moving at light speed for you.
Best to you, whether you leave or stay...
curious what a Packer fan might think here...lol
time to rock-n-roll and begin the vertical growth
Best to all!
iwitness, yes, and that is why they performed an outside audit from a respected firm for the SEC...I think this was part of their plan, but keep in mind that until they release that to SEC.GOV, the clock doesn't start ticking for the 4 week uplist to OTCQB.
The difference, largely, between Pinks and QB is reporting, auditing, etc...basically "compliance"
Pinks are notorious for the "hey we are creating Gold from Water" type of statements, but somehow they never seem to file the "Gold to Water" financials...they miss quarterly's, annuals, etc...
While IQST is compliant and growing, it is not thought of very well, and it is the age old Real Estate saying "Location, Location, Location"
Best to you!
Looking at the charts, not a lot of relative strength at the moment. I think this will continue to churn until it finds the ultimate bottom support.
The 10-K is largely known data. News might help pop it up a bit, but the ultimate support for this is Uplisting to QB - the Pinks are not going to get us anywhere. QB opens up to more investors/platforms and gives the company credibility.
I know we are going to get there, but the churn appears to be a continuing thing for the foreseeable time - I hope I am wrong...as Chas says: $2
If you are able, ping management and let them know to get on the hustle for this...they may be doing this already. Either way, it puts a fire under people when there are a lot of investors saying the same thing.
OTCQB, IMO, is the only way we see $2 in the short term
Hang tight, and continue to hold...buy on dips if you are able!
nosfelle...I get that IF I have an order in for 100K, 250K AON, but 1K ($800) worth??
C'mon, that is the epitome of manipulation...they are happy to fill Crawfors 10K @ $0.77, but my order ABOVE Ask is like an Ebola Patient...
They are happy to drop the price, but NOT bring it up...
Look at my price vs Bid/Ask...tell me, when was the last time anyone sold anything and said "I am asking $10 for this item" and the buyer said "NO, I am going to give you $20"
They want the price down, period...ANY movement upward is resisted. I just wanted to test their honesty on this, and they proved me right - they're dishonest to the core.
anyway, enough of my blathering...Best to you!
Crawfors, they WANT the price down...look at my last 3 posts...sitting on the ASK, and above the ASK to test their "honesty" and it took 10 minutes to fill 1K shares...THAT my friend is criminal
just filled...1,000 shares...$0.789
Christ, just testing the system, and finding just how bad the MM's are with this stock.
Bid/Ask dropped...and I am still not filled ABOVE ASK
Small buy order to test, for 1000 shares at $0.79, with ask @ $0.789...not filled
iwitness: No Stock is above short selling...the thing with shorting is the risk that is being taken compared to the gains of that risk - they bet the stock will fall, but if caught "short" they pay the price having to chase the vertical rise in price, especially since the uplisting will bring in legitimacy and new investors/trading platforms.
toomorrow: looking at the charts, I don't think this is setting up that way (at least not now).
The Bolli bands are constricting, RSI is bouncing around 40 (almost flatlining), momentum dropping down...
Might see a bounce up, but need to see more relative strength in these areas...news helps. Pennies are hard to gauge at times...shorting is very high on this one at present (above 60%) - 40% being the delineation between Bear/Bull
Best to you!
Morning ILUS LONGS! This company needs to do the same thing I (and others) have been requesting of IQST for a little while now: Uplist to OTC QB/QX in order to move the company up in share price and hit their goal of Nasdaq.
the same problem will occur here that is happening with IQST - they come out with great news, hit financial targets and exceed, etc and yet the share price doesn't move. WHY?
It's that age old saying in Real Estate: Location, Location, Location!!!
We are in the Pinks...the Stinkie Pinkies...and to gain credibility, and sustain the $2 close price for 90 consecutive days, the company must hit the financials, audit, comply to SEC, and Uplist to OTC QB/QX.
That's it in a nutshell
Best to all longs here!
stock investor: you are correct. I should have clarified that better - the company is performing a full audit by an outside firm specifically for the SEC requirements.
Once the audit is completed/approved, it should take 4 weeks to Uplist to OTC QB/QX depending on where the company can land (there are differing requirements).
Either way, Short Volume at 50% is not a good thing...I honestly hope the company is performing the Uplisting privately and ends up springing it on us...that would financially hurt a ton of the shorts and hopefully be a lesson to them, by having to repurchase the shares at a huge loss.
Thanks!
misteroldman: not to dispute you, but while it is "banned" it still occurs. I would do a bit more reading on the issue. Basically, you appear to trust the Foxes to tell you that the Chickens are safe. These companies know the loopholes, and have Lawyers at the ready if they are caught. They pay a fine, and continue on...if you are a company doing $700Bn annually, paying a $70Mn fine is (to coin a phrase from Monty Python's Holy Grail) "Tis but a scratch"...
(https://corporatefinanceinstitute.com/resources/knowledge/trading-investing/naked-shorting/)
"Naked short selling was prohibited by the Securities and Exchange Commission (SEC) in the United States following the 2008 Global Financial Crisis. The ban was, in part, a response to the belief that naked shorting had contributed to the collapse of Lehman Brothers, which was a major catalyst for the ensuing market crash and financial crisis.
Before banning naked shorting outright, the SEC initially sought to limit the practice through Regulation SHO. However, the regulation, which required the listing of stock with high levels of failure to deliver transactions, was eventually found to be largely ineffective in preventing naked short selling.
There is widespread disagreement as to how effective the SEC’s ban on the practice has been, with many arguing that the SEC’s rules concerning short selling are both ineffective and often not enforced.
(https://www.investopedia.com/articles/optioninvestor/09/naked-short-selling.asp)
"Naked shorting is the illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock, or determine that it can be borrowed before they sell it short. Due to various loopholes in the rules, and discrepancies between paper and electronic trading systems, naked shorting continues to happen."
Mac2014: Yeah, I saw that post, and if a full SEC Audit was required, it would likely be resolved with results from a competent outside auditing company. This would be related to Financials mostly...
Most Pinks are sneaky little bastards and are non-compliant a lot of times, but people like the potential for a quick 10X.
We are not that...see link below...in my opinion, we have met all the criteria to uplist to OTC QB/QX
---------------------------------------
http://www.legalandcompliance.com/securities-law/otc-market-compliance/otc-markets-listing-requirements/otcqb-listing-requirements/
iwitness: agreed. I appreciate the exposure the company is attempting to provide, but to your point, we need to be in an area that provides us the credibility we need (i.e. OTC QB/QX).
I just re-pinged with a comment on the FB page on just this note. The company has $2+million in cash on hand, so in my opinion (and correct me if I am off-base) the company should take ~$14K to uplist and move forward. We have the Audited financials which the company said the SEC will need, so this should be all we need...
While I believe that doing the uplisting in the background silently is ok, if the company has all the boxes checked, a PR stating the rough date on when they expect approval/uplisting to occur would go a LONG way and would not be considered fluff.
Anyway, my opinion on this, but if they uplist, the price will follow upwards of $4 easily and sustain, and would get us on Nasdaq before year end.
Additionally, this increases the Valuation of the company and allows them to do more business and perform even larger Acquisitions through minimal dilution if they so choose.
Best to all Longs!
Tweet from IQST:
"Our CEO is doing an interview with an international publication. It should shed some insight into our General's vision for IQST."
The continued exposure is certain to help - I have "pestered" them on Uplisting to OTCQB or QX in the interim to drive the price up and bring in new investors. We do not belong in the Stinkie Pinkies...we should be moving upward, and the QB or QX will drive us up, and sustain the price for uplisting. Slow and Steady wins the race...
We are back over 50% Short Volume...aarrgghh
Best to you!
$ILUS Behind the scenes testing our new commercial kitchen system. More details on this next week. pic.twitter.com/Kqag72rQ7R
— ILUS International Inc (@ILUS_INTL) April 9, 2021
Iflhdy: I agree with you on that. If it were a negative result from the Pilot introduction, we would have not heard anything until later when they could have blended the bad news alongside a huge news PR.
Best to you!
Got a small order in for 2300 shares @ 0.885...waiting to see if they bite.
Caolson93...it was the Feb 17th "Debt Free" PR
Shares are locked for 6 months @ $0.68 issue price.
https://www.nasdaq.com/press-release/iqst-iqstel-eliminates-all-debt-in-form-of-notes-becoming-debt-free-company-2021-02
Poker, the PR on Feb 17th indicated being debt free, so the shares were used to close out debt, but did not "book" until recently.
But again, I would be OK with a bit more dilution provided they use it for M/A and build this monster even bigger.
Best to you!
Poker, I asked them the reason for the added share count that increased the OS count minimally, and the response was:
"we raised capital from Family Offices to retire debt and clean up balance sheet. The stock is in friendly long holding hands"
I am good with this personally. I would have liked to see the shares pulled to support the M/A portion of the business. In the long run, it will have minimal effect on the company or the operations.
Texlottery, when we start going over that 40% mark (industry average number) we head into Bear territory, so being under gives us a Bullish stance.
Hoping we see this trend continue downward for short volume.
Best to you!
I posted yesterday on the Short Volume as a % of total volume...seems we are going in the right direction
Apr 01 - 64.56%
Apr 05 - 56.93%
Apr 06 - 40.39%
Apr 07 - 35.57%
Best to all!