researching
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This reset thing is awesome. There's a lot of companies that trade under their break-up value right now. Forget hostile takeover attempts or poison pills, all they have to do is reverse merge into a shell and whammo, new stock price value.
Somehow, that seems really far fetched. Let's just see what Rufus does in this case. I'm anxious to see it too.
That's what an extension is for. Most just automatically file the NT form.
Not really, if you think about it. An extension is perfectly legal and the normal course of business. It doesn't mean much, other than the company would want to hold off a bit longer to show their financial status.
lol. I'm not short. I just know how these companies do things. Most file for extensions, so I would bet they CSHD will do the same. Do I know that for a fact? Of course not. I just go with what I see.
Because most of them file for an extension, regardless. Like I said before, if things where really great they would file the 8-K with the financials.
October is my guess. They'll most likely file an extension.
Some people insist that the MM's know everything in advance. So on the day of the big merger finalization, the price is flat at $1.00 and volume is basically nothing?
Well, the IP addresses were all wrong. Valis posted it trying to make it look otherwise. He was quickly laughed off that board.
Just so you know, that post was bs. Valis posted it.
lol. That was put together by a stock promoter a long time ago. It's pretty funny, though.
Use spell check then. That post was terrible. eom
A popular misconception about "bashers" is that they are there to protect people. More often than not, "bashers" are just trying to derail companies that are trying to exploit for their benefit. I'm not sure if anyone has brought this up before, but that is one reason. I'm sure there are some that bash for other motives (to drive the pps down, to save people, etc) but others just like to screw up the ones that are going to profit from it, namely the company and their friends.
I just thought I'd throw that one out there since several posters on this board keep touching on the "save us" thing. It gets old after a while.
What country are you from? Just curious. There seems to be a lot of foreigners on this board.
OT: I'm taking my baby daughter out for a walk. Please don't explode the share price while we're gone. That would ruin a good day.
For those wanting this to spike up, the last time I did that, it did. So there you go. glty.
When the SEC delists the stock for non-compliance. It could be a while but that's the barrier you speak of.
I just want to see a simple balance sheet. That's all. We know the income statement's not going to matter. Just a balance sheet so I can see where they're at and how they booked the assets and liabilities. Heck, if I were Rufus I would 8-K the balance sheet immediately if it were as good as he says. But I'm not holding my breath on it.
I'd give the upper hand to the SEC since they can really screw up a company. Of course the IRS has perpetual power to collect what's owed. It's sort of like the difference between the Mob boss and the loan shark. The mob boss is the SEC and the loan shark's the IRS. Either one of them could hurt you bad. lol. But only one of them could rub you out.
I disagree with you on that. Reporting OTCBB shells cost more than Pinksheet shells. If anything, I expect them to file the 10-K and it may be a major disappointment. But then again, there's a large number that wouldn't even know the difference in the 10-K. I also don't think we'll see the 10-K until after the deadline with a filed extension into October.
If the audited financials were so important, they could've attached them to an 8-K right now or before.
Thanks. I sort of recall that also. Just so everyone's aware, corporate actions aren't illegal. For example, a CEO can say no reverse split and then do one immediately afterwards (given voting majority). Or they can say forward split and then not do it. I'm still not sure what Rufus has planned. All I can do is keep checking the daily list on the OTCBB and see if there's anything.
lol. She's still at it. I don't even want to know what's going on over there. I guess I'll take her for a walk since this is about as exciting as watching paint dry or grass grow. Maybe it'll pick up later.
I'll answer that. The SEC is concerned with securities law. That's it. They're not there for shareholder protection or the IRS or anything else.
This is just my opinion, but I think they're hovering around a buck in anticipation of a reverse split. But that's just a WAG on my part. I've seen it before. Sure hope not, though. They can easily vote that in, though. Most reverse mergers do that to shake out the prior shareholders. We'll just have to watch and wait. glty
Yeah, but reset what? If he's referring to the tax code, I can see that. That's why r/m's are attractive. I'm just wondering about the share price. Here we are, on the day of the merger, and the volume stinks and the price is flat. I was hoping for some action and now I'm debating about taking my baby daughter for a walk instead. That, as she pounds on one of my other computers keyboard and who knows what just happened. She may have sent a buy in for 500,000 shares. Wouldn't that be nice. lol
Rufus must be a swell guy for just giving away equity like that.
It's all on the SEC site. You're comparing apples and oranges in this case. Typically, reverse merger companies wipe out their shareholder base. In a bankruptcy situation, where the only holder of shares is the owner, they exchange those shares for compensation on the transaction.
Actually, no. There are many different ways to get around selling requirements. Most people involved in pennystocks know exactly what they can do to get around it. There's loopholes everywhere and that's what gets exploited.
First of all, don't call someone a liar. Secondly, the bankruptcy eliminated common stock shareholders. The time period doesn't matter. In fact, in 2003, they had to OK the deal through the court.
Has Rufus ever said "reset the share price"? It almost seems like people are inferring that's what he means. Reverse mergers carry tax credits forward, which makes them attractive versus other forms that are taxable, such as an IPO. IPO's raise capital so it's easy to see the tax liability and reverse mergers don't. I'm just curious if Rufus has said "reset the stock price" verbatim.
Not that one again. That example is from a bankrupt shell where all common stock shareholders were essentially wiped out in the bankruptcy filing. The share structure was then modified in order to pay the owner for the shell sale.
No they don't. The uptick rule is for short selling.
I doubt it. The trade volume's very low.
They didn't pay their web host. Another poster already confirmed it.
No problem. I did hear about what you're saying with PAIV.
Rufus said it was a tax reorg, but others on this board tried taking it further (the share price). Reverse mergers are effective because of the tax benefits.
No. That was Schwab. eom
Thanks. eom
Yes, you're right. Derivitives do fall under the rule. And this one cannot be halted by the company. Rufus was wrong in stating that back in July.
That's not correct. Read through this:
1. the OTCBB security or the security underlying the OTCBB ADR is listed on or registered with a foreign securities exchange or market, and the foreign securities exchange, market, or regulatory authority overseeing such issuer, exchange, or market, halts trading in such security for regulatory reasons because of public interest concerns ("Foreign Regulatory Halt"); provided, however, that NASDAQ will not impose a trading and quotation halt if the Foreign Regulatory Halt was imposed solely for material news, a regulatory filing deficiency, or operational reasons; or
2. the OTCBB security or the security underlying the OTCBB ADR is a derivative or component of a security listed on a national securities exchange or The NASDAQ Stock Market ("listed security") and the national securities exchange or The NASDAQ Stock Market imposes a trading halt in the listed security; or
3. the issuer of the OTCBB security or the security underlying the OTCBB ADR fails to comply with the requirements of SEC Rule 10b-17 regarding Untimely Announcements of Record Dates.
Making money isn't a bad thing. It's like any gamble. Some win, some lose. Zero sum.
Well, it tells me that he's not going to do that. Why? It's a guess between you and I.