Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
80K hits or user sessions? Big difference there.
They can influence things, but not nearly as much as a company can.
"The only thing keeping the PPS down is all the fuss on this board scaring others to sell. IMHO"
Meaning, it wouldn't have anything to do with PPS dropping about 100 times, OS growing about 30 times, lies in PRs and no updates on the missed deadlines, oh, and the missed deadlines themselves? Isn't this putting the cow on its head?
Would you include me in that category?
The problem I have with this company isn't that it's so young. I've started a few companies myself (all financed either out of my own pocket, or VC), and I know how rocky the ride can be in the first few years (yes, not months, years). So if that was the case, I'd have no problem with it. My problem is that the company lied through its teeth each time it needed money, and wouldn't even bother with updates to shareholders in other times. It also missed its own deadlines without as mich of a word that it did or why it did so. If this was a private company, it wouldn't have to answer to anyone but the IRS. SInce it chose to go public, its responsibility is to its shareholders, which responsibility it shirked, and went fursther than that with fraudulent PRs.
Or 3 - you believe that the company defrauded you, and seek restitution. #2 presupposes that the company didn't defraud you, or that you'll just take being scammed and bite your loss. Well, I've no intention of doing it.
My guess is, elsewhere. Something to do with trust, low PPS, broken promises on a regular basis, things like that :)
How many times has this been said before? Even in company's PRs. Then it turned out it was Peter himself selling. Are you sure you don't let despair and wishful thinking guide you?
It'd be that the moment I didn't follow my trading philosophy, the result was pretty bad :)
That's par value. Doesn't mean all that much, except for when you're paying taxes on a non-operational shell.
Well, that was my best guess. I've never been a mod on iHub, so I don't quite know how it works. Maybe I should apply for being the mod of this one and dedicate it to the class action suit against RVGD. After all, that'd keep the board on target :)
Automated system looking for patterns? That's my best guess.
Heh, it'd be quite funny if it weren't so ridiculous.
Well, they can figure out all they want, I don't see how it changes anything.
That's true. However, there're normally some "active" plaintiffs, the ones who testify, and so on. A lawyer can't take a case on behalf of someone without that someone(s) requesting it until the lawsuit is granted the status of a class action, after which all affected parties are a part of it.
It's quite real. If I get 20 people serious about it (got a bit over half of that so far), I'll start contacting lawyers.
None that I know of. If the lawyer(s) take the case and make it a class action, they work on contigency (I'm not planning to pay this out of pocket, either). If they don't want to work on a contigency basis, well, then it was a nice try.
Well, then he's more than welcome to buy our shares at the price we paid for them (with a little interest, since he had the use of our money for a while), and take it private.
If he doesn't like being badgered by shareholders (and who does), he either shouldn't've chosen to finance his operations/living expences/whatever else via a public company, as that's what going public entails - keeping your shareholders informed and happy for the money you get fro mthem; or he should've kept them better informed. He did neither.
The usuals, whatever I post is my opinion, yaddayaddayadda. I'm still learning this, so if you listen to me, well, good luck to you :)
Because the State of Nevada sees no problem with it.
When you register a corporation in Nevada and you're not a Nevada resident, you usually get a P.O. Box and a local agent. That address is most likely one of those generic saddresses with many companies listed on it.
Alright, got 10 people and 2 unconfirmed who are willing to investigate the possibility of and participate in, if it's feasible, as class action securities fraud suit. If/when I'm up to 20 confirmed, we're in business.
How do you know that?
Well, if that's the case, which I doubt it is, as his isn't that big a company, if only that staff could be diverted to something useful :)
Right,but there doesn't seem to be much trust in either Peter's ability to deliver (even with the best of intentions) or his intention to do so.
Well, then we probably shouldn't give his lawyers much food for thought, now should we?
So, the count of those interested in a class action suit is now up to 3, plus two people who haven't provided contact information yet, and so aren't counted for my decision-making process yet.
I gotta leave for work now, so we'll see what I get by the end of the day, and if it's worth it to proceed with the whole thing.
For those who can't send PMs, my email is rscomps at yahoo dot com.
Well, I'm done with wishful thinking, it's what got me into this mess to begin with. Luckily, I haven't lost much, not having invested much to begin with, this being a pink stock and such, but I'm really sick of having to deal with fraud no matter where I turn to, be it stock market or elsewhere, and seeing people get away with it.
Besides, not having lost much, $16K could still be used elsewhere just fine, and I intend to recover and use at least part of it, well, elsewhere.
That makes you a better person than I am. I've been waiting to hear his side of the story for a while now. Quite a few people here went to Decatur to hear it, and from what I can tell, got lied to. SO at this point, I don't think I'd believe his part of the story even if he were so inclined to tell it.
The issue here isn't that of AS, but that of credibility, and Peter has lost pretty much all he had (and there was a lot of good will initially, then it became giving him the benefit of doubt, then it became doubt, and now the sentiment seems to be pretty much certainty in him being a crook). When the majority of shareholders doesn't trust that the company can deliver anything, not even fluff PRs, much less anything substantial, it doesn't really matter what the AS is. And this is the case here.
SEC doesn't usually do much, besides halting the stock. So it'll kill whatever shares people still have left, and Peter gets to keep the money.
I think, a better course of action is a class action lawsuit. From what I've seen so far, he didn't just speculate in his PRs, which would make proving fraud hard. He actually lied, so proving fraud should be easier.
There're lawyers specializing in securities fraud. This isn't a big prize for them, but then, a Bear Stearns only comes about once per decade, and they have to make a living in between :)
So, who's game? If I get 20 people I reasonably believe are serious about this contact me (and I mean serious, not the regular BS you get on iHub, where people're all fired up when they end up being bagholders, and then move on), I'll start contacting law firms. BY serious I mean, you'll have to give me your real-world contact information, as lawyers don't really work with iHub nicknames :)
From what I've observed in pinkieland so far, it's quite easy to get away with securities fraud because noone takes these people to the task. For that matter, people often own more than a half of the float combined (non-voting shares, I know), and still don't exercise their rights as small shareholders. So really, it's your own fault that you let these things happen. Myself, I'm fed up with it.
Funny how it coincides with the PR. I wonder if we'd even see any PRs if there wasn't an AS increase.
Well, at least, Peter Collorafi has discovered that there're better ways to make money than building cars.
About bloody time.
Kinda reminds you not to take citizenship for granted. Pity a lot of people do, and expect a lot without giving anything in return. Well, that's one guy not making that mistake.
Wrong, it boils faster, much faster. It's so simple, yet people entertain such silly notions :)
Which would either come from some more dilution, or renewed interest in this stock. I'd place my bets on the former while hoping for the latter :)
It probably doesn't. However, I was merely commenting on my opinion as to who's buying.
They bought it for $200-300K, or am I wrong? And the prices ought to've fallen since then. Besides, the price reflects the shareholders' confidence in the company (or lack of thereof), which makes the real estate price irrelevant for the simple reason that if you don't trust someone, you expect that someone to find a way to cheat you. I'm sure there's a way to move that real estate into Peter's or someone else's personal possession. For example (and don't bother disputing this, as I don't know if it's possible or not, just giving it some thought), it could be "given" to another company as an investment, after which RVGD can bring the PPS down even further by quite a few means available to it, to the point where there'll be noone to even care what happens to that real estate, after which Peter can do anything he wants with it. Or it could be "donated" for a tax writeoff. For that matter, aside from the Company's PR, how do we even know that building was bought by it, and not leased? I remember there was a lot of DD on that a while back, however, it's not worth searching for, given the current situation. Anyway, one can continue this on and on, and it really is a matter of confidence in the company, which is at all-time low right now, and that's reflected in the price.
So far, the only real money I've seen here was the money people paid for the shares.
Well, it's certainly possible. I had issues replacing a file on shared hosting a few times. A call to the hosting provider (15 min) solved that though.
That being said, it does sound like a rather lame excuse, especially given Peter's history with excuses.
People who think it reached the bottom? People who don't know any better? People who think they can make money on it because it's this low, but aren't really sure why it should go up, they just "feel" it should?
Come on, the volume being 2.5M, that's $750. Doesn't take many people to buy that :)
Wouldn't that depend on the kind of news news? The last substantial news (not talking about some useless PRs about what they feel at the moment and students checking out their business model and finding it, umm, interesting, as in 'interesting times') was about them dumping shares, and it went down from over .0030 to where it is now, about 90% drop. So, I'd be careful wishing for news :)
We need some solid and new information. Then it shouldn't be a problem.
Just making sure ;)