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Didn't he also say game sales have been substantially lower? Wonder what they were the past few months?
lol google5, can't argue that. I also extend my congrads to those that we able to sell at a nice profit.
That 1-minute run-up of 80+ shares on the ask surely was not your conventional investor. I can't explain where that activity was coming from, but certainly not from investors. On the basis there was no news before the run-up may indicate it's some sort of fasade. The reasons behind the run-up is yet to be determined.
This, IMO, is a problem:
"We may find ourselves forced to increase dilution because an investor’s risk has become significantly higher. And with more dilution comes the unfortunate consideration of an increase in authorized shares. Of course, we could always get out of the penny-stock market by performing a huge reverse-split, lose the benefit of our liquidity and potentially alienate our faithful investor base. Now, there is one way to avoid this catastrophe and that is for the government to address Complaint #5. Although all investors should have natural concerns relating to dilution and corporate restructuring, we would first survey our shareholders to prepare everyone before we would effectuate any changes. This is how we averted the reverse-split last year. For now, we intend to leave everything as it is".
A few months back the company said no r/s based on investor sentiment. Instead the A/S was doubled to 10B and on-going dilution followed. I think I would rather see a reasonable r/s instead of increasing the A/S again with increased dilution. Just my opinion.
The word "expect" is sure used alot.
49M, not 490M.
Believe the restrictions he's refering to affects many OTC stocks, not just his company.
Nice to have the air conditioning and lights back on.
Took less than a minute to eat through the 5's, no news. A little strange I'd say.
This is interesting. May go to 5/6
That would be correct Billy. Those 49M shares are probably only a memory to him now. Probably already spent that money.
After the form 144 is mailed to SEC he could sell the shares. Appears the form was mailed 01 July and registered by SEC on 11 July.
The sale was registered on 7/11/2011.
The news sez approx date of sale is 7/1/2011.
News at 2308pm on Dow Jones. CEO LFBG selling 49M restricted shares. (Source: Form 144)
You know, investing in pink slip stocks is risky. It also appears, considering the current situation, it also appears to be risky when choosing the wrong on-line broker. 3 on-line brokers have suspended trading while all the others continue to trade SFIO.
A Christmas stock? By Christmas the company will have probably reached 10B O/S. There has been no confirmation that the new games will be released by Christmas along with other pending company endeavors. Even if the company does sell several games at Christmas, just how far do think the stock price will increase with the 10B O/S. Also, the r/s could possibly happen before Christmas that could impede the stock movement. The bottom line is Christmas sales, IMO, could be a big disapointment for many, there's just no information to speculate on Christmas sales at this point.
Not much support at all on the 3 bid side, a shade over 2M total size.
Over 30M total size on the bid side
There's over 100m total size on the ask side.
yea, coffee is perking.
Hey! Turn the lights and air conditioner back on, there's still a couple of us left in the room.
How long was the reporting extention? 2-weeks? If 2-weeks that would take them to 15 July (Friday). Not sure how many extentions are allowed before the dreaded "E" appears at the end of their symbol. Probably a better way to avoid that and save, in part, auditor costs is for the company to request a downgrade to OTC/pink slips. This method would certainly fend off any possible reporting problems as well as not having to file any pending reports. If the company does in fact have a plan in the near future to turn the company around then a voluntary downgrade wouldn't really matter than much. The company can always apply for an upgrade at a later date. Yes, I realize many investors would not initially like going back to pink slips, but I doubt it would have a further negative impact on the pps. Just my opinion, but makes alot of sense to me.
Because the total size was larger that the total trade. Now the bid is starting to build back up.
At 12:51 more than 49M went through the bid in less than 20 seconds. No trades since then.
wow, appears they going for the whole ball of wax.
All this chat about Christmas sales is, at this point, not making much sense. Months back the company introduced several new games. What evidence do we have that the company has even started to prepare these new games for retail sales? Have they contacted retailers yet to sell these games? Preparing the games and lining up retailers to sale the games takes a lot of time. To date, we have heard absolutely nothing regarding the company's progress to increase their product line, as well as restructuring technical capabilities to play the games. The one and only thing we do know is that the stock continues to get hammered by dilution on a daily basis. The bid and ask sizes are enormous, and will probably continue to grow. Can anyone give me current substantiated good news about this company, and a logical future outlook?
Sounds to me he was attempting to mislead you by making that statement, i.e., if he couldn't find someone to accept the restricted shares then he couldn't be blamed for the continuous dilution.
lol, without rereading my post, Troy has been implying that the pps decrease is NOT the company's fault, that others are at fault, i.e., mm's, message boards, etc etc.
Actually the original date on the restricted share article was 01 Jun, the dilution continued as normal even after the article was released. He told you he was working on it a few days ago, but the dilution continued. IMO I doubt he had a problem. Why he would even tell you that is beyond me as wouldn't that be admiting he was continuing diluting the stock, especially when the pps decrease is not the company's fault.
Well, the printing machines must be up and running again. How do we know for sure the company was/is having difficulties disposing of their restricted shares? Yes, I read the article you posted, but has it been substantiated it actually affected LFBG? It surely doesn't appear that way by looking at the current O/S figures.
Maybe.
Break down 6/23
6,864,884,107 O/S
1.6 restricted
5.2 free trading
If it is infact a clearing firm problem not excepting the paper, then trading on the stock would be suspended until the problem was resolved. The suspension would apply to individual brokers and whether or not their specific clearing firms accepted the paper. Although at this point we would have heard something from investors if they couldn't sell or buy the stock through their broker. So I doubt that's the problem at this point.
I'm not sure how difficult that would be 17. I'm not sure if the same restrictions apply to the other 2 clearing firms.
That's why the r/s would have to be enough to sustain a pps over 10 cents. Most certainly the pps will decrease after the split. Let's hope it doesn't happen.
yep, would almost have to be, at the current pps, over 1:200.
I have to wonder if the company is not preparing for a r/s. It'll take 35-45 day for approval, but notice to investors of the r/s implementation only 1 day. I know the company said a poll would be taken regarding the r/s, but that's actually a company call. Troy has already said, a while back, that investors favor a r/s. This lack of trading may indicate he needs to get the pps above 10 cents to continue his dilution efforts. JMHO.
Last trade was 11:37 EST
Has anyone had success in transferring SFIO to another broker where they were actually able to sell some or all their SFIO shares that were purchased under the DTC system?
That may be true high gear, but regardless where SFIO is transferred the freeze will apply as those share were bought under the DTC system.