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You're right geopressure, it's hard for the company to be selling shares when the O/S is already maxed out. So, why do these shares keep showing up just above .02? I believe there are a couple of reasons, wink, wink.
BTW, poster MWM very nicely mentioned this article just last week, comparing the Mississippian Lime Play to the BAKKEN. As an industry insider, you know that SIOR is accumulating 50,000 ACRES in one of the better areas of the Mississippian. At some point it'll move:
http://www.cnbc.com/id/47633423/Mississippian_Lime_Play_The_New_Bakken
Transparent as glass. Last week, in and brimming with optimism and this week its a scam. Rinse and repeat just like a month or two ago. Congratulations, now allow the stock to move on its own.
The Convertible Debenture was authorized on Feb. 8, 2011.
The Debenture was converted to shares on July 19, 2011.
The trade was $294,067.00 to KMAG for 434,420,100 shares of common.
The conversion price was .00068.
I think Duelittle has the best handle on what actually happened with those shares.
You've been right all along, Mr. Reid's purchase of shares does not reduce the O/S. It does however reduce the share float, which is even more important than the O/S in one way, less trade-able shares.
Ref: "You can call an indecisive man whatever you want, and I'll call him what I want"
Flame away, call him all the names you desire but it isn't constructive and won't enable or fix anything. If you consider him ineffective because of his "indecisive" nature, rant and rave away. He's been very communicative with shareholders. Did you call him and ask the reason for his change of mind before affixing him with sophomoric names?
You never did provide the, "no good reason", he changed his mind. What was it?
Perhaps you can reveal why Mr. Reid didn't place the PR. I don't know why he didn't and therefore can't make a judgement as to whether it was a good reason or not.
I do know that he knows how to grow a company, that he has Chinese language skills and that according to you, who have never met or talked with him, that he's an a**hole.
Ref: "Too many Back Seat drivers Here!!" Ummm, yes.
Some just don't get it, that if the CEO is Buying large, as a Private Investor, Why would he want to drive the pps North right Now??? Yup, he can buy more shares at lower prices. Creates a tighter market for the remaining shares.
If peeps want the O/s reduced, then stop crying about News!!
You're a wise man Kemosabe.
Pretty interesting that the CEO has one of the most successful companies in the Pinks, is experiencing exponential growth, has rising net income, is transparent to a fault, emails hundreds of shareholders, has reduced the A/S, is using his own monies to buy back shares and he doesn't have the shareholders interest as heart.
He's also been extremely accurate with projections to shareholders.
He's risked his health in the past overworking. Perhaps you'd be happier with another CEO. Good luck with that.
Uh, that's why they have these 10K, 10Q thing's, to get to the facts.
Yeah right, his ownership of 39 million shares, and growing, don't align his interests with the shareholders. Eye roll.
You know very well the CEO is in the midst of a personal share buyback. You would never accept that KMAG has anything positive going for it but the realiity is, they do. The CEO is directly addressing issues.
The earnings fundamentals aren't in place for KMAG to be at .10, yet. They're not even close. Why would KMAG want to pre-maturely promote the stock if the earnings don't support the hype.
It's not some quick run up to .10. it's a 90 day sustained hold. If the next quarter meets Mr. Reid projections, and he's been spot on so far, it will have the means of achieving and holding the .10 level.
KMAG is an exceptional Pinksheet company, where did I say it isnt? But it will still require time and patience for the firm to achieve and hold the price levels necessary to go on the QX
Real classy. By the way, you may want to check net income for the prior Q. It was positive.
KMAG is one of a handful of Pinks that is profitable and in the midst of a growth curve. The firm is operating successfully on its own merits. Along with growth and profitability they have not utilizing "promotional" services to artificially inflate the stock price.
In the Pinksheet sector where the norm is hype and failure, a firm must differentiate themselves to achieve their goals. Yet you want to join the rest of the Pinky failures by bringing on a hype firm and looking like the rest of the losers. Your idea makes no sense, let the value of the company do the talking.
Total nonsense. KMAG's sales and operations trajectory is vertical with exponential growth. At some point the price will follow. To make a blanket statement of "never" is very shortsighted.
How do you know there are no KMAG shorts? Who is providing you the data from which you derive the answer that, "Bloomberg", provides? Obviously Bloomberg gets there information from the DTCC.
What or who is the DTCC? It is the Depository Trust and Clearing Corporation. Who owns it and what does it do? It is the company that accounts for virtually every trade that takes place in the U.S. markets. It is conveniently owned by the banks, brokers, Market Makers, the same people that control our stocks. Who knows what goes on inside the DTCC and who can verify the accuracy of all the trades that take place therein? Who makes sure that illegal activities like naked shorting don't take place in our markets? Is it the SEC? Is there an agency or group that oversee's the DTCC. Answer: NO! There is no regulation, there is no oversight, there is no one protecting stockholders.
Who regulates the Market Makers? FINRA does. Who is FINRA? FINRA is an SRO, a Self Regulatory Organization that is owned and operated by? The banks, brokers and Market Makers.
So, the MM's police themselves with a small bit of intervention from the SEC. There is no outside group or agency policing our stock market. They own the company that does the trades. They own a regulatory agency that keeps them honest. With no one having access to their data, how do you know it is accurate? How do you know there isn't any shorting taking place in KMAG?
The airline tracking RFID paragraph from Q1 is a terrific read IMO. We have product already being beta'd and are adapting to their needs. Huge market. The forth quarter year was last quarter by the way:
Our operations now include a baggage handling solution using KMAG's RFID application an process along with a unique IP for tracking baggage for both the airline and baggage owner. KMAG is applying an RFID tag to baggage tickets in a bulk format allowing for in airport use. This will enable the owner of the luggage to track his or her own luggage from the moment the bag is checked in at the airport and confirm your luggage is located on the plane and once again upon your arrival at your destination and or transit. Certain airlines have agreed to unique pilot projects as well as a smart phone application for the baggage owner. KMA has delivered initial product to the client during the fourth quarter year ending 2012 and is awaiting further development of our client's platform before further production is required. We continue to work closely with our client and will adapt our production to best fit any change required by their platform.
Interesting concept about placing RFID on consumer products. The market size is immeasurably large, extending to virtually every household product and consumable.
One frightening aspect. They could actually track the RFID tag to the purchasers home. It's conceivable that they could at some point monitor the amount of product used. The Big Brother and data mining aspect of RFID and code scanning is a bit unnerving.
Ref: KMAG is a keeper.
Since the bulk of the growth curve is ahead of us, completely agreed. Over 600% revenue growth from last year and 4-500% growth into next quarter according to Mr. Reid. He's been spot on with projections and there are well over 20 mil in revenues lined up for the upcoming year. The shoe RFID, that has a contract in place, can be sold for additional shoe contracts.
We also have a very imaginative CEO who almost unaided, created the entire KMAG business. He has now offloaded the financials to Mr. Page, a specialist in mergers by the way, and the operations to Mr. Dixon. This will allow him to continue marketing the existing product lines and to create new ones in a fast growth business.
Your 20 bagger at .10 in a year is a very achievable target.
From someone who is not in the industry, thanks for the insiders summary geopressure. It's a one post read that gives the good the bad and the ugly. SIOR's Certainly worth throwing a few dollars at IMO.
Pinksheet stocks are generally lies, deception, dilution, PIPE's, no filings, late filings, huge losses, broken promises and lost money. It's hard to believe what a rarity we have in KMAG and Mr. Reid. A one in ten thousand company!
Ref: "No it's the BS. Like the guy who said that the Q1 would come out before the end of the week. Well I was right, he was wrong."
Um, I believe the Q1 came out before the end of the week, today is Friday.
I believe you ment by the end of the month, not week. If you were astute perhaps you'd notice in reading the Q1 that the State of Nevada had the documents yesterday and were probably the reason for the holdup of an extra day.
If you don't like companies that release their Quarterlies two weeks early, there are several thousand other Pinkes that will extend, won't file or are last minute. Now that is some BS.
The numbers Mr. Reid gave out for revenue in emails leading up to Q1 were spot on. Exponential growth, no debt and a hot sector.
Name another CEO in Pinkies that could hold Mr. Reid's jockstrap!
Your last sentence is the crux of the matter. Ref: JR and company could be totally transparent without having to answer hundreds of emails a week and get back to making us rich!
Let the CEO do what he does best, make money for KMAG and us. Free Jeff Reid.....from needy shareholders.
I have been advocating a Twitter Account for several weeks. The referenced posts below, yes they were before yours, were from this morning and the 21st. I have emailed him twice recommending the Twitter implemenation. I hope others do the same.
This is a discussion board, we won't always agree on everything. That's OK, disent and discussion help form strong opinons:
airdale1 Share Friday, June 01, 2012 10:53:51 AM
Re: A deleted message Post # of 55248
I wish Mr. Reid would utilize a secretary to catagorize frequently asked questions from shareholders regarding KMAG. He could then utilize Twitter or some other social media to provide the answer once. There would be no question as to the authenticity that emails conjure.
It would save him an enormous amount of time and help him concentrate on the business instead of the repetetive insecure questions from nervous shareholders
airdale1 Share Monday, May 21, 2012 12:25:56 PM
Re: greentim post# 49320 Post # of 55249
Nice post greentim leave the CEO alone, he's busy making us money! Many firms and CEO's are beginning to converse with shareholders via Twitter. I hope some here suggest Mr. Reid do the same. It would lower stress and let him focus on KMAG's growth, not shareholders security.
Instead of answering the same question(s) multiple times with many shareholders, get a two way dialog via a social media forum and answer it once. It would provide the same information as PR's with less capital outlay. Just an opinion.
images.businessweek.com/ss/09/05/0508_ceos_who_twitter/rehodlers
KMAG could set it up so the Twitter link is on Ihub or another easily viewed web page. You wouldn't need an account, you'd simply click on a link and you'd have instant access and verification to the latest Tweet by Mr. Jeff Reid. On his end, one Tweet would save the bother of dozens of emails he'd have to answer. Win win!!
CEO's using TWITTER, YES!!! Mr. Reid could have an underling catagorize questions and we all would have the opportunity to the same info at the same time.
Encourage him to adopt Twitter. Save our CEO and save his time!!
http://images.businessweek.com/ss/09/05/0508_ceos_who_twitter/
By Douglas MacMillan and Rebecca Reisner
Tweets from the Chiefs
In August 2008 we reported on 18 chief executives who use the microblogging application Twitter to clue customers in on new services, help them with questions about their products, and generally get a little bit personal with customers, business associates, and the public.
Not even a year later, we bring you nearly 50 CEOs who find tweeting a personal and professional delight. Twitter's growth has been astounding. As of August, for example, Digg founder Kevin Rose had only 61,000 "followers"— people who sign up to view a certain Twitter user's tweets—but now he has more than 600,000.
So read on to learn how Virgin Group's Richard Branson, Zappos.com's Tony Hsieh, and dozens more CEOs harness the simple powers of Twitter.
KMAG brought reality today and the blind are too busy whinning to recognize it. A real company in Pinksville, terrific CEO, more transparent than any OTC/Pinkie most will ever see, great market niche, exponential growth, NET income and some whiny sniveling shareholders.
We've got it all!!!
Quality of the Q1: A+++++
Being two Weeks early: A+++++
Q1 not being delivered exactly per emails but drawing huge attention: A+++++++++++++++++++++++++++++++++++++++++++++++++
Freaking out the nervous nellies and causing some flippers to sell: A+++++
You predicted a LOSS this quarter. Tough believing anything you post.
More losses coming with the next 10q I bet, even though they said they were profitable, LOL
we'll see, then you need to wait 3 more months for more losses, sounds like a fun investment!
WRONG!!! What is your excuse?
Plague
Thursday, May 31, 2012 10:09:41 PM
More operating losses coming tomorrow, I have popcorn for the show!
I will need tons of it if the 10q doesn't come out.
I really can't wait to hear the excuses.
I wish Mr. Reid would utilize a secretary to catagorize frequently asked questions from shareholders regarding KMAG. He could then utilize Twitter or some other social media to provide the answer once. There would be no question as to the authenticity that emails conjure.
It would save him an enormous amount of time and help him concentrate on the business instead of the repetetive insecure questions from nervous shareholders.
Don't know of any LLC's that are public companies and not sure if its possible. Having said that, every time I do a search, it comes back to our SIOR, in Ringwood, OK.
Perhaps the author messed up in using the LLC. Interesting article, thanks Arlo Cali.
My experience is a bit different than yours. IMO, shorting and Pinks/OTC go hand in hand, with or without dilution. They are like peanut butter and jelly. Pinks/OTC/micros can have very high trading volume but virtually always very small dollar volume compared to NASDAQ/AMEX/NYSE stocks and therefore can be more easily controlled. Control of a stock means making money.
If VC's, MM's, Investment Groups, and others with the capital think they can control a micro and move it up and down so they make money, they move in and do it. I believe that is why you see the wild swings with huge runs up and hard pullbacks on Pinks/OTC's. They can be controlled and they're money machines for those with the capital.
I think KMAG is a very nice stock and for a Pinkie an amazing stock. However, IMO it has traded oddly ever since I've kept track of it. Larger players have been in control of price movements almost all the time. Watch it get capped with a huge sell order when it has run a bit.
Go look at big board stocks and see what percent of their shares are shorted. Then pick almost any active Pinksheet or OTC stock and notice the huge disparity in shorting percentage. It's night and day different. http://otcshortreport.com/MSFT
KMAG isn't diluting IMO, just the opposite and we will see that tomorrow. We will see a very modest share buyback IMO and lower OS. The important thing is they are taking shares out of play and telling the truth creating integrity capital.
My hope is that Mr. Reid leaves the buyback open so that shares can continue to be purchased by him or KMAG as funds from growing earnings become available. A reduced OS and exponential growth will create a tough company to control.
There's no way of knowing how many of those shares they've covered each day, if any, but the numbers are way too high for simply "making a market" IMO. With the drop in oil prices the past few weeks and this being a micro cap, the numbers suggest it's an easy moneymaker to short.
If SIOR puts out any type of PR that suggests drilling, a time frame or oil production, a partnership or anything, like you said, this could really run hard.
Almost 71% of shares shorted today. The last four days are:
May 31 70.77% NA NA NA NA 1,232,112 1,741,079
May 30 100.00% NA NA NA NA 32,000 32,000
May 29 91.64% NA NA NA NA 219,300 239,300
May 25 87.08% NA NA NA NA 340,355 390,855
67% of today's shares were purchased at .02.
03:59:32 PM 0.02 13000 OTO
03:58:46 PM 0.02 22300 OTO
03:58:38 PM 0.02 27700 OTO
03:52:40 PM 0.02 5000 OTO
03:39:30 PM 0.02 3300 OTO
03:38:29 PM 0.02 7100 OTO
03:38:26 PM 0.02 3800 OTO
03:31:51 PM 0.02 20400 OTO
03:31:50 PM 0.02 55600 OTO
03:25:04 PM 0.02 30000 OTO
02:32:21 PM 0.02 17600 OTO
02:32:21 PM 0.02 109100 OTO
02:30:23 PM 0.02 400000 OTO
02:29:41 PM 0.02 165000 OTO
02:29:33 PM 0.02 10000 OTO
02:29:31 PM 0.02 115900 OTO
02:08:05 PM 0.02 49500 OTO
02:06:57 PM 0.02 100000 OTO
02:05:51 PM 0.02 5000 OTO
1741079 1160300 0.67
Todays short data, over 5 million shares shorted or 41% keeping the average per day above 35% over the last 20 days:
May 31 41.43% 5,094,158 12,295,462
http://otcshortreport.com/kmag
Better advice IMO and irrespective of the board on which a stock is quoted or listed:
Read the SEC Filings of companies to ascertain reality with regard to dilution, earnings, sales, and future guidance rather than using some anonymous Posters for investment advice.
Mississippian plays are also near all the refining capacity in the U.S.. The Bakkan oil must be transported for refining.
The infrastructure that the oil recovery industry requires was always available in the Mississippian area and ready to go when this play began.
The Baakan had to create an infrastructure and is still way behind the curve ball in housing, trucking, drilling, medical care, crime and even government. It's a real quagmire in the Dakotas and the oil companies are paying a huge premium to most workers.
Our Mississippian play will have higher margins because of the ability to handle the workload it has already seen.
http://www.governing.com/topics/energy-env/north-dakotas-oil-boom-blessing-curse.html
http://www2.macleans.ca/2012/05/15/north-dakotas-oil-rich-bakken-region-boom-busts-and-trouble/
Back at you, spot on post.
With "Normal" Pinkies, many worry if they will file Quarterlies at all, or, if they will file on time or they will need to extend.
KMAG is filing more than two weeks EARLY and some here are worried and are whining. Unbelievable.
"Normal" Pinkies have no revenue, no revenue growth and no net income.
KMAG earned net last Q and the CEO said KMAG will show exponential growth in revenue for this Q and the upcoming year. Yet, some whine its a Pinkie.
"Normal" Pinkies are poor at communicating with investors and posters complain that there is no transparency.
KMAG and Mr. Reid correspond daily with shareholders and some whine that it's "too much". Make up your minds.
"Normal" Pinkies run big on hype and pumps and then retrace hard.
KMAG ran hard on growing revenue, earnings, new contracts, transparency and apparently some hype and pumping. It then over-retraced and is undervalued.
It is obvious to anyone doing an honest evaluation that KMAG is not a normal Pinkie. Yet it has been traded like one.
The abnormal Pinkie, KMAG, has been treated irrationally like a "normal" Pinkie by the market and at some time must be valued on its own merits and worth. Let's hope it begins with tomorrows Quarterly.