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You're right, the IBox is a disaster. Unfortunately, just reading and responding to posts (and trading) puts me pretty close to my limit of procrastination when I'm supposed to be practicing law :) - IBoxes really aren't my thing. Also, right now we're kind of in limbo until the deals get done. NEIK is basically a shell until then.
Correct. That was just Dr. Russell and the Echotec guys wanting to give the marketplace a little more information, while we wait for the deal to get done.
That's right, and it's silly to pretend otherwise. Roughly $5,000 in dollar volume traded thus far today. It's not a bad thing, especially if the stock price stabilizes anywhere over .03 after having been down around .01.
I don't expect higher volume to return until NEIK closes the Empower transaction or announces the execution of a definitive agreement with Echotec. Unless there's a paid pump before then (hope not).
If he confirms that he put his order in at .04, what we saw was a smart market maker recognizing that it wasn't possible to fill the whole order based on the stock available at .04, and bidding .039 to induce someone else to sell the MM the shares to sell to the buyer. That's the way things used to work before individuals' orders could be directly reflected in Level II, which began only a few years ago for the OTCBB and Pinks.
Yes, you're right, of course. I was less than kind. I just couldn't believe that anyone would be saying that the "word on the street" was about this old, obsolete press release that has nothing to do with NEIK's current business plan.
ONFI? That's the one that you had on trip zeroes watch (which it achieved right on schedule)! Are we projecting the same in its new incarnation as SEST?
Didn't you read what I posted last night? A small bid that the public doesn't see doesn't attest to anything. If your order is not displayed because it's for less than the minimum number of shares, the only market maker that will know the order exists is the one to which your broker routed it. So the order will not get filled unless THAT market maker receives a matching sell order, or unless the publicly displayed offer comes down to your limit bid price.
This should not be a difficult concept to grasp.
Sheesh, that's what you call "due diligence"? The October press release refers to potential revenues from contracts that were to be fulfilled by the operating subsidiary that NEIK is now hoping to divest. They were unable to obtain financing to service those contracts, so the revenues for the October-March period were actually close to zero. And now if they sell NNL to Empower, everything in that PR is history.
Get it now?
Agreed - that is not their business model.
Does your bid meet the minimum size requirement to be displayed, as Hank posted earlier today? The minimum increment is 500 shares if the bid is between $1.01 and $10.00, and 200 shares if the bid is $10.01 or higher.
If it does, you can call Fidelity and have the broker tell the order desk to call the market maker and get them to display it. If not, you'll have to increase the size of the order.
I can fix that for you easily enough - what sort of spread do you need? :)
You mean when I said I don't blame the MMs for not posting realistic quotes because this is an "odd situation"? Nothing perjorative intended -- I just meant the reverse split, lack of trading and wide spread. Market makers don't like risk, and I'm sure none of them are going to take the time to try to figure out what the true value of TEVED is or what the bid and offer "should be." So they're going to post a ridiculous quote, or no quote at all, until the situation begins to resolve itself -- or until they are called upon to represent an actual order from an individual, as Hank and I have just demonstrated.
If someone "maybe sorta" wants to buy, he can post a bid for 200 shares at 10.00. And if someone "maybe sorta" wants to sell, maybe he'll post an offer to sell 200 shares at 80.00. And maybe eventually it'll become 15.00 x 60.00, or even 20.00 x 40.00 -- and maybe one day there might even be a bid and ask sufficiently close together to induce a healthy trading market. But maybe not.
LOL, that's ok, I assure you that at the moment I have no desire to buy any. But if someone wants to sell me some at .0066 I will live with it.
I'm just wondering if there isn't SOMEONE on this board who is a TEVED True Believer who also has access to Level II and can confirm what we're posting. This is getting like the Twilight Zone.
Of course, that confirmation will have to wait for market hours to resume. ETMM and AUTO pull their quotes after 4pm, and NITE has reverted to a bid of 5.96 for 500 shares.
And I just went one better: as of 15:55, in my friend's account, I'm bidding .0066 for 5,000 shares. It was posted within two seconds of my entering the order.
Anyone who has Level II should be able to confirm this. And if you don't have Level II, there's not much else to discuss here, is there?
Link to what? I took those quotes right off AlphaTrade's Level II, which I pay monthly for. I think you can get a free trial if you'd like to see it for yourself.
BTW as of 15:49:42, NITE's bid is 5.96 for 516 shares, and AUTO has gone to no bid. Everything else is as I posted earlier.
Just thought I'd post the Level II quotes, for those interested. It appears that no market maker is currently trading TEVED for its own account, so all of the quotes reflect actual individuals' orders. As Hank said, anyone who doesn't think the quotes reflect reality should simply put in a better bid or offer. For True Believers, it's not a lot of money, right?
NITE as of 13:12:41 today: bid 6.00 for 500 shares, offer 99.98 for 200 shares.
AUTO as of 15:18:03: bid .0001 for 5,000 shares, offer 99.00 for 243 shares (although someone just flashed an offer of 50.00 through AUTO, as I was typing this, just for a few seconds)
CSTI as of April 3: bid 5.15 for 500 shares, no offer
Seven other MMs are on the box and could post quotes instantly if they were to receive orders, including ETMM (MM for ETrade) and UBSS (MM for Schwab). Apparently they don't have any current interest in posting quotes to maintain liquidity, and I don't blame them with an odd situation like this.
The press release was wrong. FINRA Rule 11140 controls in situations where the dividend is 25% or more of the security's value. The payable date was yesterday and the ex-dividend date is today.
GM B2B!
GO AIMH!
You got it, re: sonar. The Northstar/Echotec combination could open some doors.
As far as revenues are concerned, however... that forecast was based on the revenues for the soon-to-be-divested NNL, and IF they got financing in time. They did not, which is why they are (most likely) going forward with the Empower transaction. Revenues for the past quarter will be close to zero, I think.
No worries - $560 of buying clears out the individual selling through NITE, and another $2,600 relieves the other seller of his unwanted position. There is no reason to be concerned about small amounts of stock.
From one of the most notorious Kool-Aid drinkers on IHub comes the following, in response to a post explaining for the umpteenth time that daily reported "short volume" is not "short interest":
That is the talking point developed by those who would like longs to dismiss the FINRA short sales report. Lets see what is revealed when the Judge unseals the discovery in the Overstock case.
Never mind the fact that FINRA keeps explaining this stuff, with actual examples -- it is merely a "talking point" to these people. Sigh.
I always enjoy passing around good dirt.
"Finra report came out and all were shorted."
Right, but reported intraday "short volume" does not mean "short interest." This has been explained in detail by FINRA, and many times elsewhere on IHub. If I put in an order to sell 100,000 shares of XXXX and the order is filled by a MM in several smaller pieces, each of those trades will be reported as "short volume" because my 100,000 shares won't be journaled over (to "cover the MM's short") until the order is completed or the end of the day, whichever comes first.
The market makers are only reflecting orders from individuals.
When I checked AlphaTrade's Level II yesterday, I saw a bid for (if I recall correctly) 1,100 shares at 5.00 -- it was the reverse of what Hank posted in a moment of dyslexia here:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73960435
and 217 shares on the offer at 99 or whatever. That's not MUCH of a Level II, but I saw it with my own eyes. I assume that either of those orders would have filled if the other side of the trade showed up to play.
"I don't believe anything under 100 shares even gets reported"
Correct, the trade does not print to the tape.
"Big of them to up the bid by .15."
Who is the "them" you're referring to? These are all individuals' orders. If you'd like to see a higher bid, why not put one in yourself?
AEDC = can't be bought at TD Ameritrade. Not that that stopped SNPK.
C'mon, Slo! If the stock is .0001 and they do a 1000-for-one reverse split, the post-split price will be .10. Of course .0001 is much cheaper than .10!!
When I order a pizza, I ask them to cut every slice in half because then I get twice as many!!!
I'm hesitant to leave this posted with a straight face. Knowing the typical IHub population, some people will think I'm being serious.
Sounds bizarre. I'm tempted to say "they can't" but I don't really understand the facts, and it's possible that the companies think they're doing something that isn't actually legally possible (that has been known to happen in the Pinks).
What "happened to you yesterday"? How do you know that it was a market maker selling its own shares to you, and not simply representing an individual's order? It is not possible to know that without speaking to the trader yourself.
Occasionally a trader at a market maker will trade for his own account. I sometimes trade through a MM who has occasionally followed me into a stock if he liked the idea. And MMs do provide liquidity when there are no individuals bidding or offering, but when that happens MMs almost always sell short first on the offer and then go high bid to cover. They try to end each day flat, or as close to it as possible, and as a rule they will not tie up their capital on penny stocks.
"the mms DO have inventory and at times will sell on the bid"
We have been through this before. That is simply not true 99% of the time on the OTCBB and Pinks. The inside bid and offer are virtually always individuals' orders being represented by the MMs. And if you got filled on the bid, some individual sold you those shares.
The FORCE is strong with this one, Litteraly! Chart!
"Hopefully they will issue a update on the Merger prior to Mid April merger close"
There is no reason to do that, and they won't. There is nothing to update until the definitive document is drafted and executed.
Please keep discussion of your other stocks off this board unless they have something to do with Northstar.
Right, that's last year's LOI to acquire Johnson and Ward's previous company. Obviously, that deal didn't get done, but the comments are equally applicable to Echotec.
Yeah, it looks like your basic convert and sell, convert and sell, apparently through OLMP. I think if they would just step back for awhile and let it run, they could do the same thing a penny or two higher.
Nice find. The key words here are "threat detection" and "obstacle avoidance." Maybe some of the "crew" here will elevate their game and post what they find with a little research, or intelligent speculation, and cut down on the mindless cheerleading posts.
Thank you. That's exactly what I meant. If this deal gets done, Northstar will be acquiring some cutting-edge technology know-how for not a lot of stock. Pumpers can build a chart in the short term, but for the long haul it's what Echotec does -- and what they can do in combination with the legacy Northstar technology -- that matters.
That's odd. Neither AlphaTrade nor Nasdaq.com had the 8-K. I see it now on sec.gov.
So a convertible note is being gradually converted to shares, and the conversions to date are included in the 44,401,292 shares of common stock outstanding as of April 2, 2012. I just started looking at this company, so am I missing something else that you think is noteworthy? Are those shareholders selling through OLMP, perhaps?
No. Whose?
I think he figured out that he wouldn't get many subscribers, and/or that his list is more valuable solely as potential buyers of the stocks he frontloads.