is Loving China.. considering learning Mandarian
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SIAF (chart) Consolidation is coming to a head I think. The trading ranges are tightening up and volume increasing.
Looks to me like folks who are selling, are happy to support the stock at lower price points.
Date Open High Low Close Volume Chg %Chg Adj. Close
11/19/09 0.889 0.90 0.82 0.90 24,200 0.00 0.00% 0.90
11/18/09 0.90 0.90 0.82 0.90 3,600 0.01 1.12% 0.90
11/17/09 0.83 0.89 0.80 0.89 70,985 0.06 7.23% 0.89
11/16/09 0.83 0.83 0.82 0.83 2,135 0.01 1.22% 0.83
11/13/09 0.80 0.83 0.80 0.82 9,515 -0.03 -3.53% 0.82
11/12/09 0.83 0.85 0.80 0.85 5,300 -0.01 -1.16% 0.85
11/11/09 0.81 0.86 0.80 0.86 15,000 0.02 2.38% 0.86
11/10/09 0.82 0.85 0.80 0.84 14,300 0.03 3.70% 0.84
11/9/09 0.85 0.85 0.80 0.81 20,668 -0.08 -8.99% 0.81
11/6/09 0.87 0.92 0.81 0.89 27,118 0.04 4.71% 0.89
11/5/09 0.79 0.85 0.79 0.85 10,500 0.06 7.59% 0.85
11/4/09 0.79 0.79 0.78 0.79 7,600 0.00 0.00% 0.79
11/3/09 0.705 0.79 0.70 0.79 21,100 0.04 5.33% 0.79
11/2/09 0.75 0.77 0.74 0.75 20,900 0.00 0.00% 0.75
10/30/09 0.75 0.75 0.67 0.75 12,700 -0.04 -5.06% 0.75
10/29/09 0.68 0.79 0.65 0.79 36,300 0.08 11.27% 0.79
10/28/09 0.75 0.75 0.675 0.71 23,270 -0.11 -13.41% 0.71
10/27/09 0.80 0.84 0.67 0.82 12,730 -0.001 -0.12% 0.82
10/26/09 0.94 0.95 0.81 0.821 15,839 -0.129 -13.58% 0.821
10/23/09 0.88 0.95 0.88 0.95 20,200 0.08 9.20% 0.95
10/22/09 0.90 0.90 0.87 0.87 18,200 -0.08 -8.42% 0.87
10/21/09 0.92 0.95 0.88 0.95 18,710 0.01 1.06% 0.95
10/20/09 0.95 0.99 0.94 0.94 12,720 -0.07 -6.93% 0.94
Hey threeflight whats up.
The lending climate is certainly weaker now than it was.. duh..
The topic was MMRF, not my opinions on PIPE lending.. and I still think MMRF is just another OTC struggling to survive off of bolstered up PR's and toxic PIPE financing.
If you want to get right down to it, I don't even think it meets the most minimum requirement for this board. It is an American Company.. conducting a JV with a Asian company.. not the other way around.
If they are trying to capitalize on the China micro madness so be it.. but they can't even gain any traction in the domestic market, they are loosing money and now expanding into China..
Give me a break...
PIPE's are down not due to a lack of interest, but a lack of dumb money to support them. Retail dollar volume is still down almost 50% of previous levels. PIPE lenders know this. Even Ihub had to go from "top 20 boards" to "top 15 boards".
PIPE's are down because most the dumb money (novice retail) don't have any extra money to throw away at POS OTC's.
The financing is about the same as Tony will give you in the back office of the Pizzeria. If the Company was solid and the product capable, they wouldn't need to seek such financing.
That tells me all I need to know. It basically say's the Company's credit rating sucks and only Tony "believes" enough in them to finance their business. Tony is only going to stick around long enough for the ink to dry on his cert though... if that long.
Traders might be able to make some money here and there. But I see no potential in this stock for an investor.
They are putting their best efforts forward right now to gain as much altitude before they start the financing. You want to be around when the selling starts?
My people skills have always lacked.. this is no surprise to folks who know me on Ihub. You think I'm bad though.. you should see Joenatural when he gets fired up. Makes me look like Bambi.
I haven't found one for 2010 yet.. but I'll be sure to let everyone know when I do.
My 2009 10 baggers were SIAF and CNOA
SIAF at $.05, high $1.08
http://investorshub.advfn.com/boards/read_msg.aspx?Message_id=35428510&txt2find=siaf
CNOA $.15, high $1.45
http://investorshub.advfn.com/boards/read_msg.aspx?Message_id=36533420&txt2find=cnoa
MMRF, one last thing..
Go get the web traffic statistics for http://www.mymedicalrecords.com
Funny.. I couldn't.. they don't even have enough traffic to show up at http://www.compete.com
Hell, http://www.Spongetech.com at least gets 2,960 visitors! Maybe they will get some stimulus money!
But China doesn't have a bunch of private, greedy bankers controlling their monetary policy. Nor do they have the joke we call Congress to clog up policy changes. They are better structured to head off and deal with any problems in their economy. Our system pretty much insures we will fail.
MMRF Why are you trying so hard to convince me?
They have a top of the line ceo who is not a scamster.
Who is getting paid an enormous salary on the backs of shareholders.
They have a real product filling a real need in a market that Obama has pledged billions to.
Which isn't generating enough income presently and the auditors have stated the company is a going concern. Until they receive actual stimulus money your hoping.. hope doesn't reward investors.
And they just opened up the Chinese market.
There not making enough money in the U.S. market, now they are expanding into China? Doesn't sound like a smart business strategy to me.
This is so not a scam.
Nobody said it was.
Is it a startup in need of money? Yes.
A start up that has wasted $18M in shareholder equity to date.
Do they dilute some right now to get money? Yes.
Among other things, including extremely fat salaries for thier executives.
Will that stop if/when product starts to sell?
If and when.. your words
That is what they have said. But a pos pink/otc it is not.
They are fully reporting.. anyone can read the filings. These are my opinions after reading them.. your millage may vary.
The S-1 has not been declared effective yet has it?
Don't they need the SEC to declare the S-1 effective before the company can sell shares off of that S-1?
This is not BB's Stock Haven so don't insult the combined level of intelligence on this board with such a naive statement.
For what it is worth, PIPE shares can be shorted ahead of a registration statement. It is perfectly legal to do so. Also I find your comment quite humorous. It would be like saying..
The bomb is ticking, but we still have 15 mins before it goes off, lets sit around and poke at it until then
They just filed a S-1, 35M shares, up to $8M in financing. Do a search on Ihub for the ticker MMRF.. then come back and tell me a promo is not underway. I was a promoter once.. I know what one looks like.
Let us just pretend for a moment there is no promotion. "Your right Threeflight, my bad.. there is no promotion". but...
This still does not remove the fact that an "equity line" of financing has been filed and 35M shares registered. The filing states up to $8M can be financed. The "Risk Factors" section clearly states the company is not generating sufficient revenue to continue as a going concern and that they anticipate this to be the case for the foreseeable future.
This is not the board to argue against facts merely to push a momentum type play. I realize this board, even with only a few hundred posts a day, is still on average one of the top 20 most read boards. There is a reason for that.
It is because we do not put up with the discussion of Company's that do not appear to have any real merits for investment. Maybe this stock is better suited for MOMO's board, or BB's. Just because this Company has mentioned relations to China does not make it the quality of stock normally discussed on this board.
I have been around long enough to see a "pump" for financiers to unload PIPE's. The fact that you wish to directly engage me, instead of discuss the dangers of the current equity line of financing should quite clearly show your intentions in regards to the participation of this board and its intended purpose to readers.
This board is not a promotion board, or a pump board. It was created for the purpose of discussing and sharing real DD on China small caps. You are one of the ones who brought MMRF to this board.. so don't be upset if it gets picked apart by the active participants. That is what we are here for.. to pick apart picks.. not promote them blindly.
Burp, just be careful, charts are completely useless when equity financing is taking place such as the case with MMRF, up to $8M worth of it according to the recently filed S-1. They are doing a type of "equity line" financing which is looked upon as toxic by most experienced investors.
The only time a chart is usable is when a company's stock issuance is static. I'm a technical trader too, but I take into account things like this and it is the reason I have been fairly successful.
MMRF Toxic Financing/Risk Factors
In October 2009, MMRF filed a registration statement for 35,975,049 shares
This prospectus relates to the offer and resale of up to 35,975,049 shares of our common stock, par value $0.001 per share, by the selling stockholder, Dutchess Equity Fund, L.P., or "Dutchess". Of such shares, (i) Dutchess has agreed to purchase 35,744,249 pursuant to the investment agreement dated September 15, 2009, between Dutchess and us, and (ii) 230,800 shares were issued to Dutchess in partial consideration for the preparation of the documents for its investment. Subject to the terms and conditions of such investment agreement, which is referred to in this prospectus as the "Investment Agreement," we have the right to put up to $8.0 million in shares of our common stock to Dutchess. This arrangement is sometimes referred to as an "Equity Line." For more information on the selling stockholder, please see the section of this prospectus entitled "Selling Stockholder".
We will not receive any proceeds from the resale of these shares of common stock offered by Dutchess. We will, however, receive proceeds from the sale of shares to Dutchess pursuant to the Equity Line. When we put an amount of shares to Dutchess, the per share purchase price that Dutchess will pay to us in respect of such put will be determined in accordance with a formula set forth in the Investment Agreement. Generally, in respect of each put, Dutchess will pay us a per share purchase price equal to ninety-four percent (94%) of the lowest closing best bid of the Company's common stock during the five consecutive trading day period beginning on the trading day immediately following the date of delivery of the applicable put notice.
http://www.sec.gov/Archives/edgar/data/1285701/000113626109000292/s1body.htm
Risks Related to Our Business
It is anticipated that we will continue to incur losses and negative cash flow from operations for the foreseeable future and may not be able to continue as a going concern.
Following the Merger, we are still a company with a limited operating history although we have generated minimal revenue. While our new business includes personal health care record and storage products that are currently available, we are nevertheless still at an early stage in developing a business model that will enable us to generate significant revenue from the use of our products. Prior to the Merger, MMR financed its operations primarily through private placements of MMR capital stock and from secured loans from The RHL Group, Inc., a wholly-owned affiliate of MMR's founder and Chief Executive Officer, and our current Chairman, President and Chief Executive Officer, Robert H. Lorsch. Although we expect to continue to receive financing from The RHL Group, we have also continued to incur losses from operations and need additional sources of financing to fund our operations until we develop a profitable business. Even with additional funds from The RHL Group, there is no assurance that we will be able to generate sufficient revenue and working capital to fund our operations and create a sustainable going concern. As a result, it is expected that we will continue to incur operating losses for the foreseeable future.
The filings, if you can't figure that much out on your own than maybe you should start spending more time on this board asking questions about how to figure that stuff out.
I agree with Joe 100% on this one. They have yet to earn that salary in my eyes according to those financial statements. I see absolutely nothing of value in MMRF. What I do see is another attempt at heavily promoting the company to sell stock.
How is it incorrect?
First, the filings don't lie. Second, I recognized the ticker from the many promotions (especially Ihub promo's). We keep it real on this board. You don't see any "to da moon" posts or "it must be nakid shorts" posts on this board do you?
http://ih.advfn.com/p.php?pid=nmona&cb=1258660067&article=40384904&symbol=NB^MMRF
http://investorshub.advfn.com/boards/msgsearch.aspx?searchstr=mmrf
SIAF breakout warning
Tight float, runs on little to no volume. Something to radar.
They still have a $19M deficit to overcome. That is one of the first things I look for. That shows they have wasted a lot of capital to get them where they are now. To many better places to put ones money.
I would concede however that it might be worthy of a quick trade on the news, but to many bagholders from previous promotions in that one to see any sustained run.
Folks will probably make money on it. Management knows how to promote unlike many of our China counterparts. Going long though might be hazardous to ones portfolio.
But a spurt is just a drip under pressure. haha.. sorry thought it was funny.
Herd mentality, don't try to beat the market or you'll get trampled by the herd. What we expect and the reality of it is two different things. The stock would have seen a recovery today if the market felt positive. Obviously the market doesn't feel positive and I'm not going to try and argue with the market.
I made good coin on CNOA.. no regrets.
MMRF check the filings, 154M out, $18M deficit. Management has a history of selling stock and running promotions. I would be skeptical at best.
CNOA took the loss, out my remaining long position. Taking CNOA of my list of fav "long" Ag stocks. I will only attempt short term intraday trades on CNOA from here on out until a better picture of the future can be had.
Taking a nibble at least, bidding $.82 SIAF
CNOA @ .775
Gonna Give FEED a shot here @ $4.32
Well they "tried" to pump it lol.. but a few of us said "no thank you".
-48% ouch.. goes down just as fast as it goes up. Folks need xanax to trade this stock.
It only tells you who is impatient and decides to buy at the ask or sell at the bud. It has no relevance to supply and demand.
I may "demand" the stock, but I'm willing to wait for someone to sell at my "bid". That doesn't mean there is a change in the demand, or the supply.
Supply and Demand is gauged by a chart, not L2's or time & sales. L2's are actually quite useless in OTC stocks anyway as there is no true "total view" depth available.
Looks way to early to valuate. They still need to churn through their financing. I'm watching this one though. They are in a good sector for strong growth.
There is always a buyer and a seller for every transaction. How many sold on the bid versus how many bought on the ask really doesn't tell you anything. It is just message board talk.
What is important is the size of the trades and the volume at certain price points.
Might need to throw a Valium on top for good measure!
Today's news probably why bid support has been so strong for such an illiquid stock.
btw, that looked like some serious support at $.80 lol.. I guess we know why now lol.
CNOA Dunno may need to wait a day or two. Folks coming home tonight may not like what they see providing a another op tomorrow.
Come back from lunch and SIAF has news.. and volume.. hell I'm having a good day so far lol!
My baby SIAF holding it's $.80 bid very well. I'm impressed actually. The longest running and strongest bid support I have seen to date.
Hope they are shorting it in their attempts lol.