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Are you kidding? I think I just had my head explode, I'm so excited.
"Our balance sheet as of June 30, 2009 reflects cash of $83, current assets of $176,378, current liabilities of $1,249,092, and a working capital deficit of ($1,072,714)."
Fun stuff.
I don't know how anyone would know whether it's right or not, since the company doesn't disclose such things publicly.
There I go again.
But I do recall that $500k figure for the market cap of the company -- too funny. Buncha heavy hitters behind THIS stock, let me tell you.
What possible innovation is Pierre providing that any number of other, legitimate, transparent companies aren't already providing?
How long are you going to let him string you along with the obvious fiction of a "company"?
You have every right to "invest" or bet, on whatever you want -- but to call me a liar about it, with no evidence to the contrary, is at best disingenuous.
But have fun, and again, I wish you all the best -- I so hope that I'm wrong and that this is an actual company that will produce actual profits -- for it's shareholders. Have fun.
I'm done arguing with you; it's silly -- but I will still stick around to see what happens. ;)
Sorry, meant to write every REAL publicly traded company. My mistake.
BTW how is it invalid for someone to warn about a company, but it's just fine for others to pump and dump? Just curious.
Oh, I call BS. EVERY public company in this country is required to publish audited financial statements, period. That's too much to ask? I as an investor should just GUESS if they have any cash? Or what their liabilities are? Give me a fat break.
OK, that makes some sense, from your perspective, Imp. I guess there always have to be folks to take that initial risk; but you are doing so in full knowledge that you have really no way of knowing whether it's a complete crapshoot or not.
There are others, however, who get sucked into the hype without understanding the risks.
But yeah, I'm perfectly willing to forego some hypothetical bounce that may come from them reporting; I suspect that if the reporting is correct, we're going to find a different story and the stock very well may not bounce (well, except for a couple of hours or days before people actually digest the data)...
We'll see, and again, I wish everyone all the best.
Perhaps I should have read his post more closely, it was awfully long so I skimmed; I thought the jist of it was that somehow I'm always looking for a guaranteed investment. Well, other than certain bonds, and perhaps CDs, there's no such thing.
However, a tiny modicum of information from management, it seems to me, is a prerequisite for any rational investment.
Make fun of that proposition all you like; I've lost nothing on this stock, and I never will. That can't be said by everyone who's purchased any of Pierre's "stocks", except those who play the other fools who come along and get stuck into this quagmire.
;)
So laugh all you want, makes no never mind to me. Good luck, longs. You're gonna need it.
I became fascinated with this stock, and Pierre, and the kind of people who get sucked into this kind of an "investment" when Riditman quoted something from my blog re the disclaimers that one of the pump and dump firms used (and I believe they were involved with this stock at one point)...
I realize that it's something like watching a wreck on the freeway, but if I can keep SOMEONE from getting sucked into this dog, then I'll feel it was worth the posts.
Come on, you don't need bashers to drive this stock down; Management has the market cornered on that process already.
Sorry about my ineffectuality, Wiz. I'd sell you my shares, except I've never had any -- I have this thing about not buying shares in a company that doesn't produce little things like timely financial statements or any kind of transparency. Silly, I know, but it's one of my faults.
Call me crazy. But just can't help you with your little problem; you'll just have to wait it out. Good luck.
That's rich.
How about having management tell us what the hell is actually going on.
Did I mention their lack of financial statements? Wouldn't want to miss out on that.
I know, silly me. Guess I'm strange that way, expecting a public company to report occasionally. Or ever.
We need a PR here? Is that what SFMI produces, just PRs? They even suck at THAT.
I want to see financial statements, as promised MONTHS ago by the Company.
Anyone long this dog is out of their freaking minds.
Nope, I believe you're seeing the last gasps of a piece of crud run by a possible crook.
But don't worry, he'll cook up some new scheme, relaunch, and we'll see it all over again. Pierre is not a quitter.
Schadenfreude : Should I feel guilty?
Say, where are those financials they were talking about a few months back? How hard can it be to release them to the public and shareholders? This IS a public company, right?
Hell if I know where should put your money; I just have a sneaking hunch this isn't a good long play, that's all. I have a problem with companies that don't report, call me funny that way.
Isn't this the same building? What was wrong with the old one? When did they buy it?
Will it take as long to install the web-cams as it has to release financial statements? Speaking of which, where are those rascally financials?
Just sayin'
Did I miss something, or has SFMI still not released their financials? Just sayin'
/shrug. Ok.
Glad to hear your a real long and not interested in just pump and dump and rinse and repeat. I suspect a number of people who post about this stock around here are thusly motivated, however.
I'll stick around until the financials are released (or definitively NOT released), but since it's so distateful for someone to keep stating the obvious, I'll tone down the frequency.
Good luck to all the real longs.
Sluice, yes, there is a small part of me that enjoys trolling folks -- but I figure it's more of a public service than anything else.
You mean you want a discussion board where no one points out the negative about a company? It should just be cheerleaders like Ourigan spouting drivel to drive your stock up?
I guess the question becomes -- are you an investor, or are you just out to make quick trading profits off the back of people who think they can "get rich quick" in penny stocks?
What's YOUR motivation for posting here?
Well Dicutt, from your name, I expect you've been playing this PQ game for a long time -- and more power to you. I've seen lots of "pictures" of various things, including an empty potato shed. Big deal.
Show me the money. How many years does this thing have to go on with no real third-party-verified information?
You say the reports will be issued soon; that's great. We've been hearing that for a long time now, haven't we?
As for me being "afraid" of people like you -- I have no fear of any of this. I don't invest in companies I can't at least get a basic understanding of -- and that pretty much always includes their financial statements or at least some sort of verifiable numbers -- even if that just means the public can sue the accountants for putting out fantasy statements.
Heck, if they release them, and they look good, this stock will pop -- and good for you.
I'm just another guy on the internet. I don't own this stock; I don't short this stock (not sure that's even possible, but what the heck, I'll repeat it anyhow).
I'm an interested party in that I want to see what happens with this. Will I be happy if you make money? Of course.
Will I be happy if this turns out to be an elaborate (actually, not that elaborate at all) hoax and shell of a company? No -- I will be very sad that people were sucked into wasting their money.
Do I know which it is? Nope. No clue. And except for prolly a few people here, no one else does, either. Let's see some financials, attested to by a CPA, shall we? And then perhaps you and I can make a better judgement.
That's basically all I've ever asked for. Not pictures of empty buildings, or rusting (or quickly painted) used equipment, or press releases from IR, or the like. Let's see the money, shall we?
How watered down is this stock? How much is owed to Gold Corp, or the management? How much are the plant and equipment worth? What other liabilities are there? How much operating capital does the company have at year end?
I know, I know, little details that just don't matter, right?
In the meanwhile, people are making bets on the come with very very little information at all. I realize that it's a blood sport for some of you, but there are a lot of people out there who don't get the game -- me included. Sure, you can "make money" buying this at 2 cents and selling it at 3, wait for it to sink back to 2, buy back in, rinse and repeat.
Investing, indeed.
So who the hell are you?
Course I said I was going and didn't. So who am I to talk?
Shouldn't you be gone? I thought you said you'd leave if SFMI hadn't released their financials by the end of March, then the end of April -- now it's past the end of May and, amazingly, here you are still.
;)
Hopefully they will release them soon. Even the fortune 500 manage to get theirs out sometime in the 1st quarter. We're still waiting on 2007, no?
I just hope the light at the end of the tunnel isn't a freight train full of dead tailings heading straight for the stockholders...
Nice call, Ourigan. As usual.
Nice red herring -- but what's so frigging complex about SFMI's financial statements that it takes years to produce them?
Seriously.
Doesn't the management of a publicly traded company have a duty to report to it's shareholders and potential shareholders in a timely fashion?
WTH, let's just forget about the Securities and Exchange Acts.
I trust the internet and press releases.
The "uh oh" didn't have to do with SFMI; it has to do with Investor's Hub and it's "credibility". If YOU have doubts about the legality of how PQ and SFMI operate, then you have them, and there's nothing I can do about that. I suppose I should have said more than just "Uh oh" and posting a link; people around here are a bit edgy when it comes to their "baby".
I have no agenda, at all, other than entertaining myself and learning more about penny stocks.
I am not a long in this stock. I don't know how it's possible to be "short" in a BB penny stock, but regardless, my accounts won't buy SFMI or sell it short so I have no idea nor do I want to.
I was brought into this stock when someone quoted something I had at one of my websites and it's been fascinating, following the commentary, the PRs, the attempts at DD, etc. of this issue.
Do I think it's a good investment? No. It's not an investment. It's a crapshoot. Does that mean I wish ill-will to the people who are gambling on Mr. Quilliam, sometimes for the 3rd or 4th time? Not at all. I would be cheering if this company actually amounts to something or makes it's shareholders money.
I just highly doubt that will ever happen. And I don't see any evidence to the contrary, starting with missing-yet-promised-for-years financial statements.
Gosh, with all that complicated stuffs they have to do to put out financials (and no doubt, the highly complex and numerous transactions of SFMI), it's a wonder they will ever produce financials.
I wonder how Delloite Touche and the other big 4 companies manage to put out financials for fortune 500 companies so soon after the end of the year...
How frigging complicated can the financials of a company that does absolutely f-all be? Seriously? Give me a break.
Say, wherever ARE those promised financial statements? How complex are they that it takes the CPA this long to put them out?
ROFLMAO
What makes you think GoldCorp has any money? Their most recent financial statements indicate that they don't.
Little early in the day to start getting your drink on, isn't it? Oh, wait, perhaps it's beer o'clock where you live. NM
But what if you "buy" 3000 shares on the close at a price significantly higher than the previous sales? And perhaps, you buy it from another related party? Then you rinse and repeat the other way the next day -- thereby keeping the share-price from plummeting? There's really no way short of an SEC audit to figure out who is doing it ... but we could certainly see WHY they are doing it.
Thanks for the explanation though; that makes sense, sort of; it would make more sense if the volume were a lot richer though I should think.
"64 K shares bought, 20 sold. Many that were sold were probably naked shorted."
WTH?
If the volume was 84k during the day, then 84k were bought, and 84k were sold. Unless this is some new and miraculous thing you've figured out.
Please explain this to me.
Thank goodness for (once again) today's final 3k share buy on the close.
How are you technical guys explaining that little trick?
The more I watch this, the sicker I get in the stomach.
Now now, they are apparently pretty good at buying a thousand or so shares from each other at the end of the day to pump the price back up after it inevitably drifts lower.
Oh, you cut me to the quick. An anonymous poster on the internet insults another anonymous poster... you've ruined my weekend.