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The whole 8-K is so vague like the PR's out. Nothing in detail and nothing definitively decided; just an assumption of what might be if agreed upon??
From SEC 8-K filed today:
""In the event a Restructuring as contemplated by the Term Sheet is completed, the Company anticipates that the current stockholders of the Company will be very substantially diluted.
Unless and until definitive written agreements with respect to the Restructuring have been executed and delivered, neither the Company nor any of the other Consenting Parties will be under any legal obligation of any kind whatsoever with respect to the Restructuring.""
Wake up call for Dr. Phillips & RBRM....
My post a few motnhs ago regarding a customer we did a project for who was a national buyer of medical products for major firms wanted the RBRM info (when I asked him then if he heard of them and did not) and researched them and their website and company and so forth...
In a nutshell, because of the stigma going on, and complacency of Dr. Phillips from everything from SEC filings to lack of OTC reporting to "clarity concerns" to internet stories and the company structure itself, makes this national buyer of medical products warry right now as he senses a "less than professional" company in how they are doing things.
So here you have it, and I am reporting back as I promised months ago if I heard from this gentleman again and his take on RBRM. Though he validates what RBRM is trying to do is very good and much needed category of health care issues, they are doing it "very sloppy" in today's world of medical related business.
Well Tracey, an original investor in Yahoo made a good point saying with the Medicair approval license last year, this (or any stock) should have skyrocketed higher immediately- this did not. He states it is because the "other company" the Dr. has set up is where the royalties are being funneled and not into "this company" which we are shareholders in, and as such, nobody is going to buy into this as an investment seeing the Dr divert the funds from this company's success into another and not support this company's stock investors sadly...
It has now been what, 4 weeks, since the good Doctor posted that letter in here and to date, no changes have even been noted on Pink Sheets about this stock except a red flag warning....
Dr. Phillips needs to understand this too. I fully understand your post.
However, in a couple other investment boards, there are posts from some original investors who are so upset about RBRM stock today and how just with the Medicare approval (a license to write your own check so to speak), this stock ought to have literally skyrocketed into stratosphere, except going through the complex SEC filings & corp structure filings between Nevada and Delaware I believe, it appears royalties are being diverted to the Good Doctor's accounts via the "other company" and some family members and not even to the benefit of shareholders of "this RBRM" company (the public traded one).
If this is the real truth, SHAME on Dr. Phillips, because to act like that, he has a snowball's chance in hell to ever find someone willing to buy him out seeing him do this to shareholders.
All that aside, with what the RBRM offers, and in today's world, and with markets back to their pre-August 2008 levels, this stock should already be much higher PPS and is not sitting at a penny or so. What amazes me is the volume at these levels as they make no sense, but evidently, some micro-penny stock flipper types must be daytrading this for fractiosn of a penny and a few dollars profit at best...?
You cannot buy this any lower than its current price basically.... But I see poster bmrchad admitted he sold like 1 million shares over last couple days and why this now fell again to sub-penny level.
chad I don't know what your purchase price was in the past but you rode this thing down like me and other investors to 1 cent still invested 4 years, so why sell now as you cannot possibly have made any $$$ and had a loss to do so... Or was it for tax loss purposes?
I guess you have your reason but it already is bottomed out at 1 penny and just under. The DR. needs to step up as his posted comments suggest and do something.
300,000 share volume right after open?
I was thinking, what if this is occurring? Like in old days, we would purchase stock certificates through a brokerage. Today it is rarely done because daytrading seems to be the fashionable thing, not investing.
What if someone for long term reasons, has gone to a broker and said, i have $xxxxxx and want to purchase X millions of shares of RBRM at the current 1 cent price. They would take his money and issue his stock certificates for those shares, but it would not necessarily affect the price like the daytrading would. Is this a possibility of what we are now seeing?
I just pulled up level II for RBRM next to other stocks I hold, and it shows the big volume, but no price movement at all again like yesterday and day before, etc. it does show however, several exchanges with 5000 shares on bid side and equal 5000 shares on ask side.
This is so true and if you look at the Goldman Sachs articles recently, they stated they are supporting YRCW as they DID NOT want to see such a large employer and LTL carrier end up bk like others have in past.
The business mergers YRCW made is where the debt came from, but it is tangible real assets (like Donald Trump has even though he filed bk many tiems) and GS sees this. YRCW has turned around as is evident in recent earnings and GS and other investors are now behind them long term.
It can only get better.
Remember there is not a lot of stock available and YRCW' has max share issuance ability I believe of only like 35 million more, and this is nothing on the market. IMO, I believe the max dillution cap of this 35 million has already been factored into the current oversold and undervalued PPS we have seen. Over-anxious shortselling groups and the like have depressed this well below where she should already be at when they attacked this a few hours after recent earnings when still another bogus lawsuit threat was made with nothing backing it up..
SO yes, anything to close the shortsellers' mouths (and historic level of online paid basher groups they utilize like on yahoo finance) as far as major news, the PPS on this could easily move several dollars in a day and I have seen it occur before.
Tech this is what I am saying. Is it some broker somewhere out there accumulating making a false market of sorts with this stock ? I mean with this sitting at bottom and a penny, with over 600,000 share volume yesterday, would this not move even a fraction of a decimal? Who would be selling at 1 penny now after so long who hadn't already sold long ago?
This is what I have seen so many times in the past several months and why I posted the question.
It is OTC and you must pay 100% cash to purchase the stock. No margins allowed. But being under 1.00 you can purchase up to 4 decimals to right of 1.000. It has shown volume for many months as would be expected from trading, but the digits do not reflect this. I have even lookked to see if in fact some insider was buying quietly, but being Pink Sheets, they do not always show this like would be case with SEC Form 4 on the regulated larger exchanges.
I believe about 1 million shares volume shows this week yet price is still 1 cent. Even those who daytrade penny stocks and such move the stock because of their buying and selling day after day. This does not happen here. There is evident activity going on here but the numbers do not reflect it like they would on any other OTC stock.
Yes it is, and today like yesterday, it seems like some high frequency computer trading program is keeping this collared and not letting it run higher.
It is supposed to be illegal and is so obvious, and investors in yahoo and other areas also are seeing this occur.
Please answer this for me??
Last couple days RBRM showing like 50,000 volume days and it sits at 1 cent.
Today out of blue it now shows over 600,000 share volume yet is still sitting at 1 cent!
How in the world can this be? Who is trading this because it makes no sense nor does price ever move. You can go 4 points past decimal but this sits at 1 penny.
Anyone care to comment seeing this occur again as it has many tieims in past?
SEC contact re: unusual YRCW stock activities
Dear Mr. Xxxxxx Xxxxxxxxxxxxxxxxxx:
Thank you for your correspondence dated February 10, 2011, which has been forwarded to the Office of Investor Education and Advocacy (OIEA).
We appreciate your alerting us to your concerns regarding the trading of YRC Worldwide Inc. OIEA processes many complaints received from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some correspondence received by OIEA is referred directly to other SEC offices and divisions for their review.
The SEC conducts its investigations on a confidential and nonpublic basis and neither confirms nor denies the existence of an investigation unless the SEC brings charges against someone involved. We do this to protect the integrity and effectiveness of our investigative process and to preserve the privacy of the individuals and entities involved. As a result, we will be unable to confirm whether an investigation exists or provide you with any updates on the status of your complaint or of any pending SEC investigation. Information on our policy is enclosed. You may wish to check our website, www.sec.gov, for information about pending SEC civil actions, administrative cases, and other matters.
If you have any questions, please contact me.
Sincerely,
April Keyes
Lead Investor Assistance Specialist
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
(800) 732-0330
www.sec.gov
Freightliner in Gastonia, NC manufacturing facility are needing to hire 400 workers immediately because of increased orders from LTL and other carriers for increased shipping demands they are having....
More to come...
All I know as forme DRYS investor, is around this time last year when that all-important CC occurred with COO Panjak, the stock started a downward fall, to where we saw new 12 month lows occur around 4th of July. PLUS there was the unexpected dillution in Spring announced afterhours catching many of us off guard (after promises of no mroe ATM's) then in September they did it again with another.
Many held on still, many sold and took losses. Today it is about 3.00 below where it was this time last year PRIOR 2 more dillutions. These are the facts.
You know Owningbull, all the complaints by Dr. Phillips on costs to post PR or SEC filings,etc all he would have to do at current PPS of 1 cent, is invest say $50,000.00 (personal or corp monies)and control 5 million shares of this stock.
Once the PPS goes to $1.00/share he has $1 Million. Should the PPS go to $5.00, he would have $25 Million CASH.
How hard is it really for any CEO to figure this out or not see this?
Others have to see that too. Nasdaq system was just reported of being hacked into for a year, yet they quickly discount any "problems" that investors may have had and said it was "isolated".
TREND yes, many times and it makes no sense. I know many stocks too this is happening to.
Thanks! Here some points from outcome of that just a couple weeks back if anyone remembers. This is NOT a company going BK in any way as thousands are posting all over Google & yahoo finance boards of late:
Goldman Sachs Helps YRC Avert Bankruptcy Following Hoffa’s Plea
(Bloomberg) -- Goldman Sachs Group Inc. helped YRC Worldwide Inc. complete a debt swap to avert bankruptcy after the Teamsters union said the bank was trying to profit from a failure of the largest U.S. trucker by sales.
A group consisting of Goldman Sachs, Deutsche Bank AG, Aristeia Capital LLC, Silverback Asset Management and a Smith Management LLC unit, “got us over the goal line by going into the market, buying bonds and tendering them,” YRC Chief Executive Officer Bill Zollars said yesterday.
The Teamsters urged hedge funds and banks it believed owned the debt to vote for the exchange or sell their securities. In the last two days, efforts to build support paid off, Zollars said.
“We worked closely with YRC’s advisers and other bondholders over the holidays to rally support for the exchange,” Nicholas Pappas, the co-head of flow credit trading in the Americas at Deutsche Bank, said in a statement. “We are thrilled with the outcome and support their long-term success.”
Goldman Sachs’s DuVally said yesterday “we’re pleased to have played a constructive role in the process.”
The “risk of public rebuke,” along with “even more legislative threats” to the market for credit-default swaps resulting from the bankruptcy of a large employer of organized labor, helped the exchange pass, CreditSights Inc. analyst Sam Goodyear in New York wrote in a report yesterday.
Hoffa said the YRC debt exchange marked “our first time doing a campaign like this where we really had to get into high finance.”
“It’s a new breakthrough for labor unions working on Wall Street to make something happen,” Hoffa said yesterday. “It’s very positive for a major company.”
YRC had to complete the exchange to avoid a $19 million interest payment. The company can now defer this payment and will have increased access to its bank lines, YRC said. It will defer additional lender interest and fees of $20 million to $25 million per quarter during 2010 depending on usage of its credit agreement and an asset-backed securitization facility.
The trucking company has a $950 million revolving credit line with a group of banks led by JPMorgan Chase & Co., as well as a $111.5 million term loan, according to data compiled by Bloomberg. YRC has $1.6 billion of loans and bonds, Bloomberg data show. The company took on debt when Yellow Corp. acquired Roadway Corp. in 2003 for $1.07 billion and then bought USF Corp. in 2005 for $1.37 billion.
Credit-default swaps are financial instruments based on bonds and loans that are used to hedge against losses or to speculate on a company’s ability to repay debt. They pay the buyer face value in exchange for the underlying securities or the cash equivalent should a borrower fail to adhere to its debt agreements.
You are right and I stand corrected. Overall 200million but most "restricted".... That is what is so weird all these years.
And with only 30million as you state available out there, in the right conditions, that is not much stock for investors to buy into, especially larger hands "IF" this could or would ever get above a respectable 1.00-3.00 PPS. You would see the stock PPS increase exponentially much like SPNC did back in late 90's when they started out as OTC for a few pennies then and had the Excimer laser if anyone was familiar there?
"Teamsters General President James P. Hoffa accused investment bank Goldman Sachs of profiting from YRC Worldwide's woes by creating a market for derivatives that would profit from the trucking giant's bankrupty."
(Source: http://www.joc.com/node/415354)
I have recently seen this article concerning YRCTrucking (YRC Worldwide) and that GOLDMAN SACHS IS TRYING TO BANKRUPT YRC through bad derivatives and credit default swaps. Keep in mind that YRC(W) is the largest, most comprehensive network in North America and one of the largest in the world for that matter. IT IS OF GREAT CONCERN to pay attention to such a matter.
Trucking Bankruptcies threaten 3 major necessities:
Food
Goods/Materials (commodities necessary for everyday life [-life essentials/non-life essentials])
155,000 share showing up all of sudden at 3:30pm and RBRM back to 1 stinking penny. This cannot even get to 3 cents, but seems someone wants to keep it at 1 cent. ALL the time, EVERY time whenever it even tries to go to 2 cents....
This is beyond sickening to see. Last Friday earnings beat and massive upside volume in morning pushing YRCW to 5.28, then a slow decay since.
They have done all the right thigns, but if you go to yahoo Financial, you will see several bashers who go by tx.iconoclast and seem to know where the price will end as if they are part of something bigger that is pressing this down.
I for one am tired of all the BK posts and bashers there when facts are this company has come a long way and the stock does not deserve this to go on. I have tried to reach VP of Investor Relations at YRCW and even contactced SEC to look at the trading activities of this stock. Not sure what good it will do but it is something.
This just is so shameful to see. Where is Zollars or someoone from corporate? Why is there no insider buying? I remember CIT Group who had Carl Icahn come in and they did that prepackaged BK which ruined all shareholders from common to preferred, and bondholders got saved and the executives all were made richer- and that stock fell to pennies as many investors held really thinking Obama was going to step in to help that Small Business lender and he never did.
News PR out:
YRC Provides New Service Options with Mobile Tools
Last update: 2/10/2011 9:00:00 AM
iPhone and Android apps simplify access to shipment information
OVERLAND PARK, Kan., Feb. 10, 2011 /PRNewswire via COMTEX/ -- YRC, the largest subsidiary of YRC Worldwide Inc. (YRCW), today announced new mobile tools that allow YRC customers to track shipments, read the latest YRC news and access customer service. YRC is providing free iPhone and Android apps, along with a mobile web site for all other phones. The new mobile tools are designed to help customers access YRC information wherever they are, whenever they want.
"The tools give our customers another channel for service, whether they want to track a shipment or chat online," said Mike Naatz, president - customer care division and chief customer officer for YRC Worldwide. "We want to use technology to make it as easy as possible to do business with YRC. And our mobile tools let YRC customers enjoy the convenience of being able to track their shipments whenever and wherever they want."
NOBODY (serious investors) will respect this company as far as large investors as your post states, because it is OTC and a penny/sub-penny-at-times stock and it cannot even get to 1.00PPS.
Right now thousands of other companies are 1.00-5.00 level and still institutionals are not even buying those as they cannot buy below 5.00- so what makes you think large $$$ hands like that even are aware of RBRM's existence?
PROBLEMS to name a few:
1. Too damn many issued outstanding shares of stock for RBRM.
2. Nearly 4 years of repeated PR's all of which have been proven false, especially the really big one "wanting to uplist to nasdaq".
3. Unaudited financial statements.
4. You can add to this list
**As I have said, it is so sad to see such promise 4 years ago and see where we are today where the company and its leaders have given up on their shareholders who invested from day one. .
AND screw the ear thermometer mention because that is the past and this is the present where RBRM should be.
The past is the past but what matters today is important and there is nothing new. Just repeat of the same old rhetoric PR from 3-4 years ago.
I know all I need to know about neuropathy because my sister died with extreme case of it and that is how I came to find out about RBRM really believing in them and their PR's, and invested (losing all my $$$), but it was too late before she died 5 years ago at only age 50!!
DO NOT post such crap unless you and your firm are going to act like a serious professional authority and medical type company in this industry as you only lure more retail buyers in who lose their hard earned monies seeing this stock left for dead like it is today.
YOU have energy to put out stupid PR's like this, THEN use that energy and support your corporate stock and buyback some of the ridiculous amount you have issued already if you really care!!
Who wants to pay $$$ for such a course when you can read any number of books on the market today addressing this or do internet research about the same thing? It is not like going to see Bill Gates at a MSFT convention or Steve Jobs at Apple convention- this is the good doctor of RBRM who has no company share value recognition and nobody knows who they are.
YRCW Managemet should be ASHAMED!!!
Look what has happened to your stock since earnings beat Friday. It was 5.28 and today 3 days later it sits at 3.86.... Disgusting, and Obama wonders why consumer confidence is so low these days and so many people are not returning to investing in US securities...
WHy nobody from YRCW corporate coming out seeing this attack of their stock driving it down to worthless status again.... Why nobody buying their own stock to support the PPS especially after such positive earnings?
Sadly, many abortions have been performed in kitchens & basements too yet some support it as a Right to be protected under our Constitution?
OK Dr. Phillips to your credit and recent I-Hub letter, perhaps this article "might" relish a little support to your comments about nakedshortselling of your stock to 1 cent the last 2 1/2 years.
http://satwavespro.com/2010/09/27/the-gaming-of-sirius-xm/
You want this "investment grade" YOU need to get profesisonal PR out there with real audited financials and proper "testing" factors as there has been too much fashionable fraud everywhere in the US markets and too many potential investors no longer trust anything in the media or regarding the equities markets seeing this.
What investor confidence is left out there after reading such stories? Just close all our small businesses up and sit in front of computer daytrading & flipping any stock regardless if you are helping to ruin its market cap and prohibit its future growth plans. These are equities and part ownerhsip of a corp, NOT futures contracts; but today US equties have become more dangerous than futures and that is very wrong.
http://satwavespro.com/2011/01/26/too-big-to-fail-try-too-big-to-prosecute/
??? Who knows?
I guess I am supposed to close my business up, layoff all employees, and sit in front of a computer daily to make money and pay my bills, instead of trying to work 80-100 hour weeks building my business, creating jobs and providing a valuable product for the consumer?
No not conspiracy though there is nothing wrong with conspiracy if truth supports it....
But this is exactly why there will be no retail investors returning as the government hopes to see, as it is evident too much abuses are allowed to go on by such baiting schemes, etc, and who would want to invest knowing you will have your money stolen if you are not a daytrader sitting in front of a computer?
Many people like myself have businesses to run daily, and have invested over quarter century, but today, the US equities markets are worse than futures contracts and that is what is wrong to see occur. Market caps are being destroyed unfairly by this so many corps are kept from expansion and growth they otherwise could engage in like past decades when PPS increases, etc. so it seems, many are left with the only other option and that is to create more shares in hopes someone will buy them; but that backfires badly. People seem not to want to support any corp growth like we used to do, and want instant financial gratification but are becoming like addicts and it can be seen in so mnay stocks irregardless of postitves those corps have undertaken.
nicehit, maybe I will hang it up- another older former investor who wants nothing to do with today's markets seeing these abuses go on.
And the US Government and others go on daily about "when are retail investors coming back like in past years" and my answer to that, like my own attitude, is NOT going to, seeing how this is allowed to contiune.
So all in all, I see this as another negative for the whole US economy overall as more and more market caps are ruined by these bait scheme criminals, and when market caps are held down or destroyted, corps lose wonderful financing options for long term growth and employment creatioon, so it only hurts economic recovery as I see it. Why should any hard working American, or a businessowner like msyelf even who has employees, EVER want to invest your funds into a system like this knowing you are going to lsoe it as none of the SEC filings or earnings or data really means a damn thing, when someone of great capability can make a stock do as they please outside of true fundamentals?
As someone who started trading futures contracts back in 1980's I will tell you, today, the US equities markets have been allowed to become the new futures markets and worse (equities are riskier than futures), and this is very wrong to see. We need to rewrite all MBA course books because their explanations of equities and shareownership and corp growth is outdated and wrong by how the equities markets are abused.
Can't stay above 5.00.... No matter what.
I am posting this portal website here for others to look at. It was mailed to me regarding activities yesterday on YRCW stock, and knowing DRYS, I am wondering if this is the same thing going on with DRYS too and a few others who seemingly are never allowed to stay above 5.00
http://satwavespro.com/2010/09/27/the-gaming-of-sirius-xm/
Because if any of you look at the amazing turnaround story and earnings for YRCW yesterday (kind like DRYS gettiing the contract news, etc), then see what happened to its stock, this story supports it, but it also supports a lot of crap I have seen (along with others) against DRYS too and why this now seems more than an isolated thing.
Look, you have a day when there was 5 times normal volume and buying coming in from retail investors and a corp who was expected to report loss of -1.37 and reported +.49 but no mention even on cnbc. Then around 10:30am almost like some switch was flipped, all the buying literally stopped, and then 100-300 share lots every minute of every hour from that point were sold continually all day seeing a slow erosion of the 88cent gains removing all of them by close of market almost as if some program was turned on and many investors are questioning this- and then I was mailed the above link about gaming schemes going on with certain stocks illegally and it makes too much sense now.
It is weird to say the least. Technically a bull flag was created from the last week's action alone and low & behold it proved valid and during the CC at open this stock moved higher breaking out above 5.00 to the 5.28 level which is what the bull flag formation indicated would happen minimally. YRCW beat estimates big time and yet not one word mention on cnbc. I mean expectations were for -1.37 and YRCW came in with +.49 and not one mention on cnbc either?
However, I and many others are perplexed here. Had I been told this stock would move on such strength and end day basically flat I would have not believed that- but it did just that. It was like watching a futures contract, but these are supposed to be equities.
As another investor in Yahoo pointed out, there was 5 times normal volume (over 13million that day total), around 12million or so shares trading from open right up to about 10:30am as the CC was very good indeed. But almost as if a switch was turned off, all of sudden no more buying, and repeated 100-200 share lots selling came across and continually did so all day long every minute of every hour removing just about every penny of the 88cent gains slowly all day long until end of day. THIS is what some are questioning and I admit myself seemed too orchestrated.
This corp has done everything right and to see it not hold any positive gains essentially after such a turnaround report. They also beat every estimate from negative analysts right up to the evening before, and it was almost as if someone with great ability was upset seeing this and did not like this going over 5.00, and almost like a program was activated that essentially took all invested gains away from the retail investors who really were coming back in heavy especially after the CC results.
Then I was mailed this site to go to and find there were reports of illegal activities going on regarding YRCW and SIRI stock since September not reported in mainstream press which even the MM's contacted SEC to and nothing was done about it. Here is the portal site and you can do some reading too and see if this makes sense, because what I read here I have seen happening on certain other stocks as well seemingly NOT allowing them to go above 5.00 level regardless of increasing positive developments of said corp:
http://satwavespro.com/2010/09/27/the-gaming-of-sirius-xm/
Unless such behavior is curbed and stopped and integrity brought back into US securities markets, Mr Obama and his staff who question why so many Americans still have no confidence in markets, is because of such reports as this one here, and means less and less peopel trust anything from our govt to Wall Street or the supposed regulators for the securities markets.
Not really. When you compare its stock available (about 47 million shares), that is a very small amount compared to say Citi (1Billion +) or GE (1 billion +) or others, if this were to clear 5.00 and institutionals were to be able to acquire it then, it would not take much to see this stock run very high in PPS and fast as there really is not that much available on the market to purchase... 30-40 million shares can be acquired very quickly (in a day even) by larger investors, then there would be none left on the market (supply & demand).
As I have written and even contacted SEC about last year is simply go back to this same time last Feb and the all-important Conf Call DRYS COO had then. It was on heels of many PR's and media spins from Nov 2009 to that Feb earnings call including several upgrades by credit Suisse and others and even cnbc stories about them and a merger/buyout from Maersk. I even called Maersk overseas who told me to NOT trust anything put out regarding DRYS then and they had no interest in acquiring DRYS. But I and others did not listen and we all lost a lot of $$.
Many investors including myself were lured into all the news indeed and "promises" from the COO then of "no more stock dillutions". Well the stock was around $7.00-8.00 this time last year.....
THEN, Spring came and an unexpected overnight announcement of a behind door deal with another bank and dillution occurred (there have now been 6 ATM's total I believe). Then in Spetember another dillution occurred. Regardless, ALL the news at last Feb's CC which I was in attendance, made it seem as soon as contracts were announced this would irregardless take off to $20.00 PPS or higher.... Well all the desired news came late September and after and today, this stock sinks even lower because it has been used as a raping pillar by Economou for himself and some select bankers to steal retail investors' monies everytime they get a new wave of interest in it.
LOOK at OCNF and you will see where DRYS will undoubtedly end up sadly.
IRS Wash Rules : TD Ameritrade
What is a wash sale?
The Internal Revenue Service (IRS) created the wash sale rule under Section 1091 to prevent investors from recognizing "artificial" losses by selling a stock for a loss, and then repurchasing the stock within a short period of time.
The wash sale "window" starts 30 days prior to the sale, includes the date of sale, and ends 30 days after the sale - for a total of 61 days. If an investor sells the stock at a loss, and then buys a "substantially identical" replacement stock within this 61-day window, the loss is deferred until the replacement shares are sold. The pro rata loss is added to the cost basis of the replacement shares purchased, and the holding period of the replacement shares includes the holding period of the original shares sold. However, the deferred loss will eventually be recognized when the replacement shares are sold.
The wash sale rule tends to be confusing for investors, and can be nearly impossible to keep up with for active traders. Your account will be continuously monitored for wash sales, and will automatically update your cost basis and capital gain/loss report in GainsKeeper® in the event that a wash sale occurs.
BS woman!!!
You call youself an investor in a corp and then you talk about selling shares at 1/2cent moves?? That is not an investor; so please STOP acting like you care about a corp (THIS CORP), and support its business structure then and help bolster a higher PPS, and STOP attacking its PPS whenever it begins to get any notice as that is foolish to do repeatedly- sitting there saying you are selling shares you bought at .01 from a $1,000.00 loan everytime it goes to 1 1/2 cents which is what I suspected all along.
And if I understand you saying you took a $1,000.00 loan to buy RBRM stock (100,000 shares total at 1cent), then that says it all and that is ridiculous to see.
This is considered a worthless stock today run down to 1 CENT and you took a small loan to even buy its shares? This is not like taking a loan to buy Apple stock at 50.00/share when it is trading at 350.00 PPS today... Unreal.
This corp and its CEO need to take some serious actions which he alluded to in his letter on here last week to not only show real "invested shareholder concern" from those of us who owned it since inception holding MILLIONS of shares to date, but to also gain better respect globally of the corp and its medical device mfg operations and seriousness to act professional on all counts; which will not only roll over into a greater PPS, BUT will see massive upside exponential changes as far as orders, sales, profits employment opportunities too and offer this corp massive cash availability for future development & growth simply bby its increased market cap from the PPS (if it is allowed to grow)!
It's the old unions stupid....
GM and possibly Ford are all walking a thin line today IMO, and regardless what has been pumped in media the last year about both having best earnings for many years, etc; they have costly union stuctures and the foreign auto makers entrenched in USA today do not and operate more streamlined and profitable with little debt. ALL of these foreign companies now have new state-of-art plants built in Alabama too.
News this morning on cnbc even about AMTEX corp (subs. of Japan auto supplier mfger)is finishing building a new plant in Alabama to serve Toyota plant mainly there and also will be within 80 miles of providing its products to Honda and Mercedes plants there too, just shows how foreign companies are doing well here in USA and the old US auto mfgr standards will be their own demise simply because of the hierarchy union structure and massive required debtload they must carry to survive.
So the days of F or GM or AKS (AK Steel) supplying them cold rolled steel as I see it is slowly ending over time like it or not....