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We've had family up and I haven't read much on this board since Friday, but as I scanned the recent posts I was thinking the exact same thing as you, StockSwami. I couldn't have said it better.
We all own our shares and no one can take them away from us unless we either sell them or the company goes bankrupt. The first option we control and the second I do not foresee happening. If it does happen, NH will be wiped out too so that's not going to happen. Although I don't see it in the near future, a reverse split changes nothing. Everyone still owns the same percentage of the company that they did before the reverse split.
NH may become filthy rich and I hope he does because that means we all will be rich too! Let him perform his magic and make us all mini-NHs. If he's worth $42m, I'm happy to be worth $2m or $3m as a result of his efforts.
Go Nasrat and go ELTP! And keep going
From your "cheers" to my ears. Keep up the great posts, Aqua. Don't take offense to any of the critical posts. Everyone is entitled to their own opinion, even if it's wrong .
I hope to meet you, and others, in Hawaii after ELTP clears $2.00 (which may happen sooner than we think).
A great story, Aqua! When I heard about ELTP I was working for a major food distribution company and my manager was a very successful trader. He had been in the military for many years, then became a trader on Wall Street for 7 years. He started a consulting company that IBM bought for many millions of dollars. He did not have to work, but did so to keep busy as he is still a relatively young guy. In fact, he is a workaholic. At work he had his personal laptop in the office hooked up through a Sprint data card so he was not using our company's network or hardware, but he traded in between conducting his company duties, which always came first. His trading account was well into the 7 figures.
One Monday he told me he had bought a large position in a company he read about in that week's edition of Barron's. The stock was at $0.04 when the story was published and it was called ELTP. That was April, 2011. We all know the story. ELTP ran to the mid-20s, then the FDA stepped in and pulled both of ELTP's products and the stock collapsed.
It's been a painful 2 1/2 years, but certain posters on this board kept providing significant true and positive due diligence (Lasers, Couch, Tangerine plus a few others and, of course, there was always Dr. Lowenstein to provide a counter-point, which I also found valuable). These posters kept me not only interested, but helped me to become a "true believer" and stay with my position. Thank you all for your commitment to ELTP! Without your insight and commitment, I may have bailed long ago, but I held on. Now ELTP may very well be one of the greatest trades of my stock trading career. In fact, I think it may very well become #1.
Blessings to all ELTP longs! Don't flip, hang on for the trip
Yes, I am a great grandfather (I was 18 when I got married), but don't feel like it (I run 4-6 days a week and lift weights three times a week). Our great grandson is why I'm so excited about the potential of ELTP, along with what it'll do to help our kids and grandkids, of course. They are all a blessing, each and every one of them. Given the current state of the country, we all have to look out for our own. We'd love to leave a legacy that would allow our children to retire a younger age and enjoy life, give our grandchildren a chance to be self-reliant, not government dependent, and for our great grandchildren to receive a quality education without the burden of college loan debt. I truly believe ELTP will provide that opportunity, but I'm also hedging our bets with other similar-type stock positions. So far, so good. Maybe the third (rags-to-riches) time is the charm .
Blessings to all!
One of the other great trades of my career (Tan Range, now TRX) went from under $1.00, when I bought 6-figure shares, to over $9.00 between May of 2005 and April 2006. This was our second rags to riches story. ELTP will be our third.
Then again, I've had several monster positions crash and burn when the SEC found fraud in the reported numbers. In one position I lost almost $50k in one day and it kept going down from there! Don't over commit!
Position sizing is important, as is knowing when to sell. Don't put all your eggs in one basket and know ahead of time when you will get out of your position. However, if you are young maybe you can afford to take a flyer with your entire (I assume somewhat small) savings. You'll either get rich or learn a valuable lesson (as I did, over and over - I never said I was smart ). Youth has the envious advantage of time on their side so they can afford to make a few major mistakes and still recover.
Just don't do what I've done and make it a way of your trading life. I've gone from rags (my dad died when I was 8, my mother was sickly all her life, and I never had indoor plumbing from the time I was born until I graduated from high school and moved to a large city to work as a software developer in the mid-1960s) to multi-million dollar riches then back to rags and again to riches and one last time back to rags before, now, heading back to riches. I thought it was fun, but my wife (of 50 years this year) didn't necessarily share my opinion . So please, spread your risk over a number of positions and only make a few of them speculative. When you buy, know when you want to sell.
Finally, while we're all waiting to get rich, enjoy each and every day! Life is great, if you let it be . GLTA! Go ELTP!
P.S. I'd love to join you all in Vegas or Hawaii. Las Vegas is a 5-hour drive from our home in the mountains of AZ. My wife and I joined a group in Toronto after Tan Range went up several fold before the final big run. It was an experience we'll never forget and we made several lifetime friends out of that gathering.
I've been gone from posting on this board a while (although I followed it periodically), but have held my somewhat significant position (closer to a million shares than zero shares) since April 2011 and am now reaping the reward that we all deserve for being "true believers" and hanging in there.
Nasrat Hakim is doing an outstanding job! He is the reason I increased my position last August when he joined the management team (below $0.08, thank you ) and again in January (below $0.15, thank you again). It's amazing that high quality management, like we have at ELTP, will work for shares of stock only. If they, who know more about this company than we'll ever know, believe that strongly in the future of ELTP, then I have no issues with following their lead.
We are all very lucky to have found this incredible opportunity. It's the trade of a lifetime and anyone who sticks with it for the next 3 years will be rewarded beyond their wildest dreams. I truly believe that!
Thank you management for an outstanding job when all seemed lost in the fall of 2011. Whatever rewards you achieve, you deserve, and whatever wealth we shareholders achieve as a result of your efforts please wish us well for sticking with ELTP through the hard times.
I do think we'll see a dollar a share this year, barring some catastrophic announcement form the FDA (which I don't anticipate). I also believe we'll add at least a dollar a year to the share price each year over the next 5 years. For all you dreamers out there, there was a time this millennium when ELTP's share price was $20.00/share. I don't think we'll see that again (although who knows?), but $5.00-$6.00 over the next 3-5 years is very realistic!
Don't forget to trim a little here and there to take a little off the table on the way up. Bad things can happen unexpectedly. I plan to trim 15% every dollar level we reach, and maybe more once we get over $3.00/share. I'll sacrifice some future profits in order to be able to enjoy some of my profits now (and to sleep better as I've had some amazing opportunities in the past get hammered with one bad announcement, like what happened to ELTP in Sept, 2011). But then, I'm old so I can't afford wait too long. Whatever is left when I "move on" will be a legacy for my children, grandchildren and, yes, the great grandchildren that I now have.
Life is good (OK, it's really great!). I love these 5-figure up days in ELTP . As so many have said previously, go ELTP!!!
We lived in Manitowoc, about 30 south of Green Bay on the Lake Michigan shore, but visited your part of the state often. WI people are great! We'd love to own a home in WI and spend our summer's there, but the best we can do right now is visit. However, KMAG may make that dream possible. For all our sakes, I hope so.
Born and raised in WI on the Lake Michigan shores a bit south of Green Bay. I love the Dells, Door County, northern WI, western WI and the Green Bay Packers! I just don't like the cold, thus the move through our AZ 34 years ago, but we do visit good old WI every year - in the summer or early fall
Given today's action, I can't help but watch this board from work. Please don't tell my boss. She doesn't know that KMAG is my ticket out of here
The big downside of working full-time is that I can't be there when buying opportunities present themselves. I just saw today's "buying opportunity" about an hour ago, but couldn't get in at the price I bid. And, of course, the stock is rebounding like I knew it would. Now I'm hoping for one last dip so I can add another large chunk to our holdings before the rocket ride to come. Go (down, then up) KAMG!
We love WI too (are minority owners of the Green Bay Packers, in fact). Grew up in Manitowoc on the Lake Michigan shore. Go back to visit every year. My and my wife's best friends still live there. We watch every Packers and Badgers football game. We are as excited about those teams as we are about KMAG.
I love visiting Boston. I used to eat on that ship that was a very nice restaurant but sank during a storm maybe 20 years ago. It's been a while since I've been there. After KMAG makes us rich I'd like to show my wife your lovely city.
The Red Rocks rock! We live on a high hill in Cottonwood overlooking the valley where the city is with Mingus Mountain on the other side. The Verde River flows past us with cottonwood trees growing on both sides as far as the eye can see (thus the city's name). Behind us are thousands of acres of national forest land that I like to hike and run. We need to do some upgrading to our interior and are looking to KMAG to fund it for us.
And I do like the idea for of the KMAG millionaires party being held in the islands. As Captain Picard would say "Make it so."
My wife and I were in Sedona today to see a movie. It's a beautiful city. Maybe once KMAG makes us rich, we'll move there
Actually, our son has a decent position in KMAG, so that makes at least 5 KMAGers in the Phoenix area
Make it 4. I live in Cottonwood, but work in Tempe during the week. We lived in Phoenix for 27 years before moving to Cottonwood. AZ KMAGers unite! Let's all get rich together!
Oh, one thing I forgot to mention about tax consideratins, most of our shares are in IRAs so taxes are not a concern until the money is withdrawn. If you have a Roth IRA (we don't), then the money can be taken out tax free. If you have a regular IRA, then the withdrawas are taxes as ordinary income no matter how long you've held the stock.
That being said, our regular trading account still has a million shares and I'll trade that for what I (may mistakenly) think are maximum gains without regard to taxes (again, if I was close to LT gains, I'd take that into consideration, but it wouldn't be the overriding factor).
As I said in my previous post, I am not a tax advisor and this is all just my opinion.
Thanks CowTown! What a great way to start the trading day! I only understand portions, but it's beautiful and it gives me the feeling that this is going to be a KMAGnificent day!
It may be a fool's consolation, but due to some horrific investment loses in land and stocks during the housing crisis and 2008 economic crash, we have enough carry-over short and long-term loses that we personally are not concerned about taxes (hopefully KMAG will wipe out those carry-overs). However, I never worried to much about taxes anyway. I've seen too many people lose too much money holding too long trying to turn a huge short-term gain into a long-term gain only to have some event wipe out all their gains before they could sell. I've done it myself.
Now, if I had a nice profit and it was December 28th and I wanted to sell, might I wait until January 2nd to delay the taxes another year? Probably. Also, if I was 11 months and 19 days into a position that I wanted to sell, I just might try to sweat it out another 12 days. However, in both cases if I had any reason to be concerned that waiting might cause me to lose more than I'd save in taxes, I'd either hedge my position buying Puts (assuming I could do so for less than the tax savings I'd receive by waiting) or I'd just sell it, taxes be darned.
It's not a bad thing to have to pay taxes because you made a lot of money. Believe me, it beats the tax savings you get from posting loses.
Of course, I'm not a tax advisor and ths is all just my opinion.
Hey Jaime,
That list of crooners almost brings a tear to my eye. And I loved The Dean Martin Show. What a hoot!
As for your question, if I knew the answer, I'd not be working this short gig, but rather I'd be with my Susie on a big motorboat on Lake Michigan with friends and family for a few weeks fishing for those big trout and salmon in a cooler climate.
The fact is that KMAG has gotten a fair amount of attention outside of this board (not to mention that this board's activity has gotten it a lot of attenton within iHub). We have the potential, especially if there is one more really provocative PR in the next few trading days, to break out of the old high from April. However, there are a lot of folks who bought at the old levels who would love to get their money back and will be selling at those levels, so resistance will be strong in the $0.02s, but a well-timed PR could break us through that resistance.
As for selling and buying back, I'm not that nimble, especially woking full-time during market hours. What I am planning to do is to sell enough sometime in the next 1-2 cent rise from today's close to get all of our investment back plus a few bucks more. That'll leave us with several millon shares that I plan to ride for an extended period of time, knowing that there will be violent ups and downs. Once we have our original investment back we'll be playing with "house money" and most of the emotions will be removed from the picture. Yes, we may miss out on a huge profit by selling some way too early, but if several million shares doesn't make us rich, then a few hundred thousand more won't do it either.
Now, if there is a monster upsurge in price in the next few days/weeks to say, $0.07 or more, then I might consider selling another chunk knowing that rapid rises are almost always followed by even more rapid falls. After the fall I would buy back at a lower price. However, I would not unload all our shares on the chance that I am wrong, a fairly common occurance in my stock trading. So, I plan on doing some hedging, but I'll always keep a core holding until I finally feel we have enough money or that something has fundamentally changed to the negative in the company.
GLTA!
Hank
I have about half your 6 milly, but dumb luck got me into it starting June 13 at $0.0030 and all my buys were in the $0.003s. I stumbled on this board by accident. As I've always said, dumb luck trumps skill anyday
I'm an IT consultant. It pays well. I've been retired since 2004, but occassionally take on a short-term contract. I recently got an offer from an in-state company for a 4-month contract with an option to extend another 6 months. I figured out what I would net after expenses and taxes for the 4 months. I was very pleased with the estimated result so I started August 1.
But here's the rest of the story. Since August 1 I've already made more money with KMAG than I had planned to have from my 4 months of work. So, yes, I plan to quit my day job at the end of 4 months and not extend another 6 as I'd been considering. If anyone asks why, I'll just tell the that KMAG made me do it
Early re-retirement (it'll be my 4th "retirement"), here I come!
Thank you KMAG!
BTW, I do expect and think it's a good thing when we have a down day or two so the price can consolidate. Nothing goes up forever and from my experience, the faster a stock's price goes up the harder and faster it falls with any hint of slowing growth or missed numbers and sometimes for no apparent reason at all. Count each down day as stretching the band of a sling shot that will propel KMAG even higher.
How about Frank Sinatra's Fly Me To The Moon?
Fly Me To The Moon
That's where KMAG is going, and beyond!
Good points all, Jaime. Back a few years ago I got into another penny stock that had a honest CEO, was debt free, and had tremendous potential. It soured over 900% in a relatively short time and made us a fair amount of money. I've been searching for another stock like that for the last 6 years and I know I've found it in KMAG! Everyting about KMAG is identical to my last "make-me-rich" find, only KMAG is BETTER! I don't know if KMAG will hit a $1.00 in the next 3 years, but it has already done me proud! A few more cents and I'll be able to quit my job (I got in, quite by accident, really cheap I'm not flipping anytime soon, but once KMAG hits $0.50, I'll start to layer my sells. No need to be greedy. At our age and with the number of shares we have, $0.50 will set us up for the reat of our lives!
Go KAMG!!!
Looking forward to the call. Let's hope this call they can keep the dog quiet so we can hear the terrific news about our favorite stock
This working full-time sucks! The day I staresday,ted, last Wedn KMAG took off (hmmm, I wonder if there's a message there?) and I couldn't follow the board. Now, by the time I get to my room after work, there are 1,000 new posts so where do I begin? If I followed the board at work, I'd never get anything done (of course, if KMAG keeps doing what it's been doing the last 4 trading days, I won't have to work . It's bad enough I keep glancing at the delayed quote for KMAG instead of cocentrating on my assigned tasks (I hope my boss isn't reading this!), but missing the comments all day from my KMAG brothers and sisters is painful! What to do, what to do?!!!
Wow! My first day of work after a year of retirement and I make more $ in one day with KMAG than I have since I owned the stock (and my first buys were at $0.0030)! I should have gone back to work sooner Maybe I'll be able to retire again (for the fourth time) much sooner than I aniticipated.
Go KMAG!
What a day to go from full-time retired to full-time employee! Now that KMAG is making me rich, I should just go in and give notice. What's even worse is that I won't be able to follow the price action or this board. I wonder if they'd notice if I disappeared to the bathroom for 15 minutes every hour to catch up on things with my smart phone? As the ad says "I'm lovin' it!"
Picked up 500,000 more shares around the close, so I am trying to do my part to hold support.
We've all heard the stories that say "if you'd have invested $10,000 in XYZ stock five years ago, you'd be worth $50,000,000 today." I hope to be able to say that about my KMAG investment in five years (or less -)
I just looked on the Mineros web site (Mineros Web Site), which the Chrome browser allows you to translate from Spanish to English, and all I could find about Gold Sands was a January 26, 2012, press release in Spanish (it's in an untranslatable format), nothing else.
Unfortunately, I am in so deep with this one that I am going to have to hang in there for a while yet. I have thought of selling half my position and putting it into another situation that seems to hold more promise. Maybe I'll do that.
This huge loss is my own fault. I had tripled my money in this stock in about two weeks last spring and got greedy. I should have set a stop loss that would have guaranteed me a nice profit. Lesson learned (again!).
Good luck to you whatever you decide.
Nothing yet. That concerns me. You'd think they'd check their email at least once a week. From what I gather, I'm not the first person who has had difficulty getting information from GSDC.
I believe your projections are very reasonable. Given my current profitable holdings and the shares I plan to add Monday, if your projected stock price is realized, I'll never have to worry about money again. Let's all root for a $0.09 share price in the next 12 months Go KMAG!!!
If you go here you can see the GSDC trading action (15 minutes delayed):
GSDC Trades
It's good to see some activity (156,000 shares as of this writing), even though almost all of it is attributed to people selling. At least I won't have ended up buying at the high of the day
BTW, if GSDC doesn't respond to my email buy the middle of next week, I'll call them. If that doesn't work, I have some other avenues to get some info.
I paid the high of the day $0.22, but it seemed to trigger some activity (which quickly ended).
I did email the company with the questions I mentioned in my previous post. I will post my response whenever it arrives.
Thank you both for your comments. Given that GSDC has 190,000,000 shares outstanding and were given only $196,000 payment, it's easy yo see the low share price. Even if everything went perfect and Mineros goes ahead with the deal and GSDC collects $1,900,000 in royalties per year, that only comes to $0.01 per share. Of course, that should send GDSC over $0.10/share but not the dollars per share I had hoped for. Maybe things will turn out even better than this, but it's going to take time.
I did make a buy this morning and it triggered a number of other buys. Interesting.
I am going to contact investor relations to ask (1) when their next reporting cycle is, (2) when we can expect another stock holder's letter and (3) what is the time frame for some news? I'll post any response.
I have done DD. I get the stock holder's letters. I've read the press releases and most of the filings for the last few years and have read the information on the web site.
GSDC looks to have a decent deposit, but no money to work it, thus the partnerships and the low stock price. I'm still surprised at how low it is, especially given the positive drill results last year and the fact that Mineros is continuing their DD.
These boards are suppose to be for sharing of information. This board is dead. I'm trying to add some activity to it as a new poster. Rather than being cryptic, you evidently have some valuable information to share. I would enjoy hearing your thoughts. Please share them. I value your comments.
I couldn't agree with you more! The lack of information is frustrating! However, I believe that most/all of the management each has a lot invested in GSDC and are each out more than all of us on this board put together, so I imagine this is even more frustrating for them as I believe many took stock in lieu of pay.
Unfortunately, management is restricted by law as to what they can say and when they can say it. They have to be very careful with "progress reports" that might mislead shareholders. For instance, if they said something like "the Mineros investigation is progressing well" then three weeks later Mineros decides not to proceed, that could generate law suits. I think management can only issue statements when something concrete is known.
Hopefully something good will come out of GSDC's current agreements, but when the latest Mineros announcement (May 11) was made I thought we'd see a surge in stock price. That didn't happen, so I do have concerns about the quality of the gold deposit and ease of extraction. It's obvious to me that if this project doesn't produce income, GSDC is done for.
Pat had a stroke and has been on the sidelines for well over a year, just now getting back into action. But that aside, you seem to have misunderstood my message. I said he is an honest guy. I also said if the company fails it will be because of management incompetence, not because it's a scam. Just because someone is honest, doesn't mean they are the next Steve Jobs. Time will tell.