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7 o'clock in the a.m, eastern time, moday-friday.
are you on the ask? i got filled for 15,000 on the ask at .061, then they bumped the ask.
don't panic. if anything, it is approaching a 52 week low, i just put in a buy order for 75000 shares, they only filled 15,000 before they raised the ask. i think it has a much better chance of hitting a short term .075 than it does of hitting .05. try trading instead of buying and holding, the swings between .055 and .085 are many.
my logic was simply that after issuing a press release stating that scmi was going to give out the dividend to shareholders of record, and later having peter state on the ask sunncomm board that the dividend would be issued, it was just delayed by the s.e.c., that they would have to issue the dividend, or risk a shareholder lawsuit for issuing false and misleading information. and i thought it impossible to give a 1/1 when scmi holders still had that many more shares coming to them. it now seems that the press release, and the direct answer from peter on ask sunncomm were false. is that bashing, or is that the truth? hard to be logical when you deal in false information.
and you spent lot of time here pumping a .19 p.p.s by shareholders meeting. you get a bit ugly when someone doesn't agree with your pump, don't you. your right sahd, its not that the outstanding grew to 650 million, its the naked shorts and the market makers. so if there are millions of extra shares in the float, how did none of them show up, or have to cover when the company has changed names , given out dividends.
naked shorting is not shorting, it is nothing more than selling non existing shares. the premise is borrowing more shares than there are in the float,selling off those shares, and diluting the share price and creating the illusion of a sell off. if there was a massive counterfeit position in scmi, when the dividend was issued, there should not have been enough shares of qtig to cover the counterfeit shares, or a short covering rally . everybody got exactly what they were supposed to get.
the naked short position would have HAD to have shown up in the qtig distribution. if anything, the reason for the share price being beat to death would more likely be the fact that the outstanding has ballooned to 650 million, and is going to 740 million. manipulation and short positions are 2 entirely different things.
the dave matthews c.d comes out may 10.
i am wondering how BMG is handling the i-pod issue.
you have some chance.
i-pod
this is true. is anyone aware of the float?
even if there is a naked short position, and they manage to smoke it out with this latest get shorty scheme, all of the smaller stocks that i have seen, and even most of those on sho, only get a temporary bounce. i don't know how dad has figured that this would be a .40 stock by now, but in the course of 2 years, the outstanding has pretty much ballooned year after year. the outstanding doubled, and half of scmi went to qtig, that was another 195 million shares, and now they are talking about issuing another 90 million. if issued, that will bring the outstanding to 740 million shares. that is a whole lot of shares issued in a couple of years.
this is exactly what another company called phlo corp [phlc] did the same time last year. they withdrew from the dtc, and demanded physical delivery of their stock.
that does make sense. shares of scmi will have to be physically recalled, and retired. if there is a short position, those that are short will have to cover, or there will be a shortage of mmxt stock. the physical recall should finally put an end to all the short positions, if any.
dad, it also leaves another gaping hole wide open for critics and even shareholders to wonder how credible this management team really is. it makes you wonder as to why they pushed this shareholder meeting up a month. i sincerely hope that they have some sort of news for shareholders before that time. as of now, those waiting on the promised dividend have received nothing but merger news. they either have a big release coming very soon, or i think you may find a lot of angry shareholders at the meeting. sounds to me like i just lost over 7 grand, that ain't cake, it tastes more like crow.
it is not a good thing. when a company issues a press release stating that the holders of their stock will receive a dividend, then says that the reason that the dividend is not being issued as planned is s.e.c involvement, and that it will commence, than says the dividend will not be given out at all, it is not a good thing. this is going to be some shareholders meeting.
i agree, since there has been no news, and you can not discuss any news that has not been released before the shareholders meeting, i would think that some news has got to be released shortly.
they are cutting it real close, if they are going to release any news before the shareholders meeting. the rumors keep coming, but the company remains silent. maybe they plan a p.r. blitz a week or so before the meeting?
much thanks, berg. i caught schwab in a pack of lies, they really screwed me.
berg, exactly when is the dateline program about naked short selling going to be aired? i have a huge lawsuit against schwab and i am going to arbitration with them in june of this year, and it concerns a company that they claimed to have bought shares for me, and they did not.
anyone have a clue as to why mmxt reatains a 30% premium to scmi, if they are the same stock?
it really makes no sense. mmxt trades 250,000 shares in a matter of minutes, at .10 to .12, and scmi sits at .076 for hours, and nobody is buying. what gives?
why are they buying mmxt and stepping right over scmi?
good grief, looks like i spoke too soon, why is mmxt taking off and scmi floundering?
.13 was a false high for qtig, my opinion is that some may have been under the impression that qtig would be valued higher than scmi when the merger was done. it doesn't look like this shareholders meeting is going to be a very pretty affair, unless there is some major news coming between now and the meeting. i am hoping stehsuckers source is on the money. he was unbiased in his opinions and critical of management, not a hack for the company.
what a haircut, folks took a bath buying in on that upshot.
how many shares are in the float as of today?
i'm with you there! all this talk about mergers is moot , i want to see some news.
another big apple poster. i am in new york, residing in queens my whole life. maybe it's just a new york thing, but i feel exactly the same way.from an investment standpoint i see this as having lost over 5 grand. that is what we are all here for, to make money. i can't wait to see the cake they are baking to replace a loss like that.
only when the sb is filed does a quiet period come into play, i think. even the quiet period does not mean that they cannot release any news, just certain items have to be addressed.
look at the bright side, those who bought qtig on the runup to .13 and over just watched over 35% of their investment get smoked. at least scmi has held close to .08
you didn't merge, you bought the outstanding of both companies. when a company like mmxt issues 450 million new shares, are they buying the outstanding of one company,because if they issue 450 million new shares, they didn't merge, they bought scmi out.
you are correct, there is no more qtig. qtig did not actually merge with mmxt, it is mmxt.there is a good reason for the premium on the mmxt share. we will know very soon. when mmxt begins trading, if it retains the high premium over scmi, there is a reason. if mmxt has to issue 450 million shares over what is already outstanding, than scmi is surely the stock to buy. we have seen that this has not been the case.my opinion stands that mmxt will only have to meet the outstanding of scmi in total, not exceed it by 195 million shares, to merge on a 1/1 basis. we will know by the end of the week, if scmi and mmxt trade at or about the same level, then i am wrong, but if mmxt goes back up to .13 while scmi remains in the .08's, i am right.
sahd, why would a company that is about to have a 650 million share outstanding be trading higher than a company that has a 450 million share outstanding? why does mmxt have to issue 450 million more shares, bringing the total outstanding to 645 million, when there are only 450 million shares of scmi to merge with? share price after the merger will dictate market cap. the way you are figuring this merger, the 195 million shares of mmxt outstanding are merely on for the ride, and will not participate in the merger. you are adding 450 million shares to the outstanding, and not taking into account that the 195 million already outstanding are going to be included.
yes, it is the same, mmxt trades at a 30% minimum premium to scmi.
it is not 1+1, it is 1 FOR 1. it is not a buyout, it is a merger, ask your broker.
they are not down.
the kind that works. it is written in the share price. can you explain why mmxt, that you claim is going to have to issue 450 million shares, on top of the 195 million already outstanding, is trading higher than a company with 450 million shares, and isn't going to issue any more? the answer is simple, the reason mmxt is trading higher is because they are only going to have to issue 250 million, to match scmi, share for share. if i am wrong, explain what the holders of the 195 million shares outstanding are getting out of the merger? they are going to watch mmxt issue 450 million new shares, and they get nothing? there HAS TO BE a reason that mmxt, or qtig, traded at a minimum of 30% higher than scmi. or you are assuming that those who bought up qtig to .13 and left scmi at .08 are not that bright.
alj, if mmxt were to issue 450 million shares, on top of the 195 million already outstanding, it would not be a merger, it would be a buyout, and mmxt would be trading cheaper than scmi, not more expensive. when i said listen to the market, i did not mean wall street, i meant those that would know more than we do. do the numbers on share price of mmxt and scmi, and you will see that the premium between mmxt and scmi is already factored in. if they print 450 million more mmxt,there will be 645 million shares, a number far higher than needed to do a 1/1 merger with scmi, they only have to procuce 250 million to do a 1/1. if you now own 1 million shares of scmi, and you are under the impression that you are going to own 1 million shares of mmxt, you are mistaken. mmxt will trade higher than scmi, but you will not have as many shares.