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For all you no bid watchers...
GNCP just got out of 'no bid' for the first time in a couple months. And many thought that was dead.
However, GNCP did two things:
1) They got current on their financials last week
2) Most importantly, they kept putting out market announcements in recent weeks, so that shareholders could at least be kept up to date on things
GNCP is a badly run company, but at least they were smart enough to keep posting announcements.
By comparison, Gil has left everyone in the dark. The "CEO" could learn a thing or two here.
Hey Nadia - we got a kick out of your post giving that boy credit for his call.
You apparently haven't been here long enough. He also warned people to take profits back in March long before this turned out to be the trade of the year, eventually rising to .02. Go back and read the posts.
Anyone who would have sold when he started warning people would have missed out on massive profits. I know because we loaded the boat when he was warning everyone and rode this to the heavens!
That boy is the best contra-indicator on his forum. Never fails!
My brokerage account proves it.
You might want to check out REDG. It may go down a little more (convertible notes), but it has been a terrific flip for me all year. You can thank me later.
Far be it from me to defend this company, but 1ray - it's the brokerage (Etrade in this case) that charged you the fee for the RS. Not Formcap!! No company can access your brokerage account and take money out.
But then again, Formcap has been taking your money just by running the share price down into the gutter LOL.
Back-to-school will improve sales? Are you kidding me???
Most schools have a dress code that you can't come to school grounds looking like a street walker.
Yes, I'm up too, but that's mainly because I use him as a contra-indicator.
Works like a charm.
You mean it didn't have a huge runup into Comic Con like isienterprises said over and over? Gee, that's hard to believe given his track record...
Watch out...this guy signed on as a moderator for ACLP, had nonstop messages for weeks pumping it, then disappeared when the stock went to no bid.
You're a joke perform4u.
Too bad you can't remove posts now.
L@@K!! FRMC just doubled from its Friday's low of .0045.
Thanks for the quick cash!!!
Wrong. You missed the whole point of my post. It was warned this was a scam right before it went on to a massive run up last fall. Those who would have listened back then would have missed out on massive profits. Go back and read the posts. Oilbore can attest to this as he was touting this when others were yelling scam.
This is far from over. Once they do a R/S, they will run it again down the road. And the same people who are laughing now will be nowhere to be found then.
As someone here said before, who cares if it's a scam? At the end of the day, flippers are here for profits. Nearly all these penny plays are nothing but garbage. It's all about the profits.
BTW, those who bought in at .006 last Friday already flipped some burgers for quick profits. Might as well make some money off Jed Clampett.
He also warned people when the stock went on to run hard in late 2013. Check the past posts.
I predict that once the RS goes through, they'll wait a few months and then hope enough time has elapsed that those who just got burned have moved on and they can get a fresh set of traders who aren't aware of their past "stuff."
Then they can rise and repeat for the next set of traders.
I am curious as to why they replaced the CEO. I sold shares after that. Obviously, that was a major red flag. You don't change CEOs right before some drill date. Which again tells me they never intended to drill. It was, IMO, set up to run the stock on the hope that they would drill, even going as far as filing paperwork. Just my opinion, but I would bet on it.
I am surprised some buyers have come in today getting this back to (right now) .006, which isn't too far from yesterday's close before this latest news.
Would be interested to know what their thinking is...buying right before a RS and when the odds of them drilling - even in August - just went down very significantly.
Then there is the possibility that they never planned to drill in June to begin with, despite the filings. I am of that belief right now.
I'm guessing they thought they would see the s/p rocket with the Kansas intent to drill filings, then they would pull the old RS afterward.
Then possibly they would drill after all that took place in August.
The reason I suspect shenanigans is the timing of this whole thing with the RS being around the time the permit expired.
What they did get was sideline investors that were waiting for them to actually drill, rather than a runup to the drill date, which may have caught them by surprise.
Now, they are screwed IMO.
Even with the 10:1 RS, I predict this will just slide back double zeroes again afteward. And even the RS would only have this at .045 right now, which is where the stock was just a few months ago PRIOR to the RS.
It was suggested to me today by another trader that they may have also come to realize that they wouldn't hit oil at that location. I never thought they would, but I don't know if that somehow could also play into this.
They also would have had plenty of volume had they done a promotion like they did last fall when it ran to $2. That was all I was here for - another bogus promo with chance to get out quickly with profit.
If that wasn't enough, they could have prevented a lot of the selling today by indicating they still were going to drill in August. But the wording of the release sounds noncommittal to me.
We're really not dealing with the sharpest tacks from the box.
News out - the company has postponed the drill date due to market conditions. This is complete b.s. How are the market conditions that much different than they were just 30 days ago?
Notice that they don't say it was because the equipment is not available yet, which would have been more plausible.
No RS is going to save this company if they never drill(IMO).
Good luck getting anyone to buy this now and if you don't respond to shareholders, you don't deserve any.
For the right price, I'd take all the pictures you want.
The s/p will drift down further unless:
1) they start to drill, or
2) they do a promo
This has all the makings of a RS that will just get flushed back down to double zeroes again. They should have done a 100:1 RS if they want to continue to meet some OTC price requirement. Because if they want to play weasel, they will sure have a hard time finding more buyers for this and it will just continue to slide after the RS (IMO).
GLTA
It's amazing some of these companies have any investors. So they don't answer their phone and don't respond to emails? What a pathetic bunch of @#@#@!
The CEO should have taken a "investor 101" business course at the podunk college he attended.
Maybe he majored in basket weaving or something.
Can they really expect anyone to invest their hard earned money in this when they are unresponsive to those who blew their wad on this?
Do the math? Seriously? Anyone who bought when you said this wouldn't go any lower (your guarantee) got SCALPED.
Great call, dude. LOL.
Dude - you said in April (sticky post) this stock ain't going any lower.
Let's not lecture others...I had to go to the hospital because I split my side laughing at your prediction. It was a HORRIBLE call.
And you can't argue with that.
If they think a RS will solve their problems, then "management" is just as clueless I suspect they are. The RS will already have this below .10 and without any REAL news, it will just drift back down to double zeros again, causing yet another RS.
I underestimated their stupidity. I hoped they would do a promo last month - that was all I was here for.
Maybe they can get Jed Clampett to run the show.
Of course, he's denying he said that, but he did say it would stabilize in the mid-trips.
But thanks for your post - farking hilarious and dead on.
Now watch the dude go ballistic...it's hilarious.
Now taking a FREEride to the .60s...
Outside the obvious (striking oil), I'm not sure what would run this at this point beyond a bogus promotion. This was always a promo play for me.
I still think they will drill, but I would not at all be surprised by a slippage of the drill date. As others have mentioned, they can't drill until / unless the equipment is available.
But, I've never contended they would actually strike oil. If they do, great, but I'm not expecting it.
Some of the trollers here would be wise to hold off on the gloating until this company is dead and buried. Because if they do drill at some point or if this stock does surprise and run hard, then the tide will turn and some here will be laughing all the way to the teller's pretty face.
They had a golden opportunity to run it again before this latest junk news.
These ain't the brightest bulbs at the helm.
Where's this phantom crooked German promo firm when you need them.
I was hoping some promo would run this mofo and grant us our get out of jail card before the @#*(@! really hits the fan.
Nice to know that Brad the CEO attended some podunk college for a few years. "Attended" sounds to me like he didn't finish.
Was hoping these guys would have been smart enough to do a bogus promo earlier this month. They could have gotten a massive-multi bagger on a well-written promo.
Have to admit the CEO change at this time has quite a stench to it.
Wonder if Brad is going to take any summer school classes and pick up some xtra credits toward a degree.
This has gotten fugly the past week. Might have a chance to reload in the high trips soon.
This one looks good for the patient investor...plus, there aren't any chuckleheads runnin' round these parts.
Breath of fresh air here.
I can guess who that was given my experience. The resident know-it-all with his (LOL) "superior DD" as he likes to call it (while missing the past major run) likes to drop nasty PM bombs.
It's about as gutless as you can get.
The part about the $5 /share in the release kills me (with the lame logic of attempting to attract institutional investors and investment advisors).
Do these management clowns actually think this stock will ever trade above $5 per share even post reverse split?
Nice try on their part but I seriously doubt anyone would believe that this stock could ever come anywhere near $5.
Even the most optimistic here were hoping for just a fraction of that as a best case scenario.
What a wild final 1/2 hour of trading. More action than a Nevada cathouse.
Thank you for that amazingly insightful post!
I was waiting all day to see if you have added! I can sleep now!
Right up there with the resident know it all who misses all the big runups and then claims he nails them.
And just how is this not a POS with a looming reverse split?
Don't you think if everyone was just waiting on a basic reverse merger this would be trading a multiples of .0001? Oh, gee, this stock is going straight to .0015 immediately on reverse merger news and only this board knows it!!!
Give me a break.
It's the reverse split that is going to give you all a chilling dose of reality.
This is a POS with a reverse split coming. Watch and learn.
The merger won't help offset this split.
Irrespective of whether or not they strike oil, if you just look at the stock price itself, it is not uncommon for a penny stock to slide to extreme lows just before it runs hard.
I have seen this happen with several other penny stocks (I have already seen it happen with 4 penny plays I've been in this year.)
Part of the reason it happens is dilution, but it also happens in some cases because of manipulation. The trees get shaken hard (intentionally) and the weak hands get scared out of the stock right before a big runup.
The mistake that many traders make is assuming a s/p decline to new lows means something is fundamentally wrong. Sometimes that fear is based on reality, but sometimes it is pure manipulation by those who want to get in cheap or add to their position.
Pennies often have their big run after falling to dramatic new 52-week lows. Again, not saying this will happen with FRMC, but it is common in pennyland. I've seen it happen too many times.
If they hit oil (and that is a BIG if), your biggest problem will be protecting your cash when you leave your local bank with all those C-notes you just got from the bank teller after you have xfered your brokerage winnings to your bank acct.
It will take her so long to count your $100 bills, the people in line behind you will be grumbling.
Why does the bank teller have to lick her fingers when she's counting my C-notes?
Nothing worse than bank teller saliva on my crispy Ben Franklin's.
It's the downside of winning in pennyland.
Well, I noticed the bid / ask was below the .025 at the time.
It was just nice to see a little pop at the open after falling to .012 a couple days ago.
FRMC did jump back to .02 for awhile later in the day.
You can't short penny stocks at most discount brokerages like Etrade, but you can at Interactive Brokers.
Weee doggies! What an open at the bell for FRMC. Only 500 shares traded, but a nice 66% spike.
Care to share your next enticing price points?
I tried unsuccessfully to fill an additional buy order yesterday afternoon at .012.
I would be happy with any paid promo. If you're in before they start circulating, they can worth a 10-bagger or more even if it's all b.s.
Not sure what the German promo outfit was that some claim was in part behind the big pump last fall.
This stock is just screaming for a paid promo right now. They've never been closer to drilling, so a paid promo could really move this fast. Such a golden opportunity for any scumbag paid promo service.
There's still a wild card out there. If there's a paid penny promo, such as Green Baron did last fall, or that alleged German company promoting it as it was rumored last fall, then we could still make out like bandits even if they don't strike oil.
Provided of course you get out before it's known they didn't strike oil.
This is the perfect time for a penny stock promotion, but so far no sign of one.
And yes, I know those promos are all b.s. But they also = cha ching.
OK you wildcatters:
There are a few people on this forum who have worked in the oil industry.
How long does it usually take to find out whether or not a particular drilling site will produce oil for onshore drilling such as that in Kansas?
Are we usually talking day, weeks, or months?
Thank you for trying to save us from making money.
After all, it is TERRIBLE to make money on the market. Friends might get jealous, your spouse might leave you for a poorer man, and vacations in sunny destinations can increase the odds of melanoma.
You're right - I can't take it. I will sell all my shares once this falls farther.