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OT: Marxist/Socialist Left Movement
You said, "When was the last time you heard ANY Democrat calling for the nationalization of all businesses and an end to the free-enterprise entreprenurial spirit? (Answer: No Dem in any major position!)"
Seattle is a major city and socialists now have a dominant voice. Councilwoman Kshama Sawant has advocated exactly that policy:
What is Sawant's ultimate goal? To launch an "international struggle against [capitalism]," "take into public ownership the top 500 corporations and banks that dominate the US economy," and create a "socialist United States and a socialist world."
Watch the video and then scroll down:
After passing the "Amazon Tax," Seattle City Councilwoman Kshama Sawant went on this unhinged rant.
— Christopher F. Rufo ⚔️ (@realchrisrufo) July 7, 2020
She threatens to seize control of the Fortune 500 and overthrow the "racist, sexist, violent, utterly bankrupt system of capitalism."
If you oppose her? "We are coming for you." pic.twitter.com/2L17D6wScp
OT: Sad news if you haven't heard it yet, Eddie Van Halen passed away today
BGFV - Yep, I think you jinxed it :)
The other possibility I've heard before (I don't know if it's true or not) is that somehow this is a way for Chinese citizens to get money out of the country because of exchange controls. If this is true, then they would not be worried about getting a business up and operating.
I too have wondered why go thru all the hassle of purchasing a shell company and then do nothing with it.
I almost wonder if this might be a case of the stated reason isn't the real reason. Sort of like when the govt calls something The Patriot Act, you can bet that it's got a ton of unpatriotic stuff in it.
The stated goal of this Final Rule is to eliminate a lot of these small, non-filing tickers and worthless shells that can be used for fraud, etc. But it does seem to me like they're handing a ton of the enforcement off to the otcmarkets, and if otc says you're good, you're good. I wonder if maybe the real reason for this is the SEC just doesn't want to waste time and resources on all these enforcement actions for smaller companies.
Pass a law, trumpet your enforcement, and then just pass it off completely to someone else.
I know that sounds odd, but just sounds like tons of loopholes to let otcmarkets handle it how they want. Personally, I think things are fine the way they are.
But hey, just have to wait and see if/how companies get halted, etc.
LGC.WS - Just in case anybody is new to SPACs, it's good to know that in many, if not most, of these SPAC deals the warrants are subject to repricing. It's possible that with more and more SPACs looking for deals, there may be more warrant re-pricings in the future. I've seen some re-pricings where even after you read the new deal it's still very difficult to understand what the new terms are. Sometimes there can even be multiple re-pricings to get the deal done:
https://www.sec.gov/Archives/edgar/data/1698113/000121390020027442/ea127107ex99-1_legacy.htm?utm_source=ActiveCampaign&utm_medium=email&utm_content=How+to+Kill+a+Good+SPAC+Warrant+Pop&utm_campaign=9%2F21%2F20
BGFV Yeah, exactly. I mean, there might be a slight short case that could be made, but my goodness the fundamentals are sooo strong and the announcements already made by the company -- it's just never made any sense that there's such high short interest. It's one of those where you look at it and say "am I missing something?"
I happen to be in Calif at the moment visiting family and the skies were horrible from the fires, but have cleared up the last few days, so maybe that's part of the reason for the move now.
BGFV Hopefully the start of an extended move. Still can't understand the short interest
BGFV received the dividend yesterday. Still wondering what the shorts may have up their sleeve. Just doesn't seem to make sense. We should get a new short interest report any day now. 24% of the float was short as of last report and that was up slightly from the previous report.
Lazar stocks only is what I would much prefer. Quality, not quantity, is what matters. The board will get polluted with tons of worthless tickers. I'd suggest going back to Lazar only, then start another board with the other types of plays if you like. There are already SPAC boards on Ihub for anyone interested. Just type SPAC into the search box.
Like others have said, a SPAC is very different from a custodianship and it may even mislead newbies. When a SPAC comes public, it has already raised (past tense) a bunch of money and is sitting there with a cash rich balance sheet looking to buy a company. A custodianship is just the opposite and almost never has any cash to speak of.
It's sort of like saying that a millionaire and someone who wants to become a millionaire are the same. It's just factually incorrect.
The board is great and it serves a specific purpose. If it ain't broke, don't fix it.
What group is it? Would like to know if/when they pull that in any stocks I own.
CLKA ($.81) - Just one more example of these for informational purposes for the board. CLKA had one of those perfect looking stair-step charts for about 2 months. Low o/s and low floater. But if you look at the filings, convertibles at $.00005 - no kidding.
One guy converted and for $15 got 300,000 shares.
Hundreds of millions of new shares to come
NEOV Yeah my guess with these types of charts is they wash trade back and forth to drive the price up and as they lure people in they get net short along the way, in a big way, then cover the short with shares when they convert.
NEOV - Market conditions are not a problem for NEOV, where every day is an up day! Until the dump day, that is. Sure looks like wash trading in a low float stock.
Ihub Test Board
This is not a nasty, snarky post, but informational for your future reference. Ihub has a TEST board specifically for trying out stuff to see if it shows up correctly:
https://investorshub.advfn.com/TEST-TEST-107/
If you forgot the exact link, just type 'test' into the search box and the board will come up.
NEOV - Perfectly normal looking stock chart with absolutely no signs of manipulation whatsoever. I run across about 4 or 5 of these types of charts a year. All charts look like this, right? Pull it up for a good laugh
I'd seen your post. Looks and sounds good. Thank you.
BGFV - What's the best short argument anyone has heard?
The short interest puzzles me. Shorts are not correct 100% of the time, obviously, but they often have good reasons for being short. I'm long, like most on the board, and just can't understand the logic of being short. Cash, dividend, no debt, great earnings, etc., just doesn't make such sense. Unless someone knew something like the state of California is about to ban the sale of all sporting goods during the pandemic, or something oddball crazy like that, I just don't understand the large short interest.
Even if you're long, would anybody care to put forth what you think is the best short argument you've heard or read?
PGNT($3.01) Surprised it didn't get a little more attention on earnings. Spiked up and then almost all the way back down on earnings day. Maybe it's an illiquidity issue -- if someone needs to sell for some unrelated reason, they know that about the only day to trade in much volume is on earnings day.
Yeah, I guess it mainly depends on the SEC's motivations, which I don't claim to know. If they're just after money, which sometimes seems to be the only thing they're after, then they may well settle. But recently they've also been ramping up efforts to put a stop to the shell business and they're well aware of Lazar and I don't think they generally like shell operators. I don't know how it will turn out, but it clouds LGBI for me a little more than some of the others. The judgment is a big unknown as to how it will be handled.
Just FYI, LGBI has a $786,694 SEC judgment against it from early 2017. Not sure if that falls away automatically after some period of time or if SEC judgment remains forever, but it clouds LGBI quite a bit for me:
https://www.sec.gov/litigation/litreleases/2017/lr23730.htm
PGNT ($2.32) Reported earnings yesterday of .33 for the quarter and .50 for 6 months:
https://backend.otcmarkets.com/otcapi/company/financial-report/254558/content
BDGY - If I were lucky enough to be holding some shares of Input Capital, I would definitely be selling, rather than waiting to see if the deal goes thru :)
Seems to be a slight departure from the BDGY plan of purchasing "Joy" dishwashing liquid from Proctor and Gamble. Did that all fall apart and the company just never said anything to shareholders? Did you notice any filings regarding that, funny?
Joy and Creme Suds now seem to be owned by JoySuds LLC which is an entity I don't recall Bridgeway mentioning. This link seems to show Joy was(?) owned by C-PAK which is the name I recall from the filings, but is now owned by JoySuds LLC:
https://trademarks.justia.com/715/66/joy-71566767.html
The JoySuds website gives little info:
https://www.joysuds.com/
So did the whole Joy deal just fall apart and now they're on to something else? Seems pretty crazy they are now buying a company in an entirely different industry. Don't know what to make of it all.
The Input Capital Board on stockhouse is kind of bewildered by the whole thing and they weren't that impressed with their own company. They seem to be in disbelief at the price somebody is paying:
https://stockhouse.com/companies/bullboard/v.inp/input-capital-corp?page=1
MSTR - A Landmark Day?
Microstrategy [MSTR] today made itself the first major public corporation to make Bitcoin it's primary reserve corporate asset, rather than holding cash in US dollars. $250 million worth, so not a small move. This may be the start of a move to a voluntary, global, free-market money that is controlled by no govt that can simply print up more whenever it wants -- to pay for whatever latest crazy scheme it has dreamed up.
Ironically, Microstrategy was one of the most crazily valued companies during the internet boom. Put your chart all the way back to year 2000 and you can see how crazy the valuation was.
Only time will tell whether they're fools or visionaries:
https://www.businesswire.com/news/home/20200811005331/en/MicroStrategy-Adopts-Bitcoin-Primary-Treasury-Reserve-Asset
What does one out mean?
I remember seeing one video (which I can no longer find) from a participant in the court drug program and he was an addict who was actually praising the drug patch for keeping him honest. He was really trying to break his addiction, but found the pee test pretty easy to beat. He said the sweat patch caught everything. And when one's brain is in addiction mode, it's constantly telling you to take the easy way out.
Thank you very much!
Link for Verifying SD Tests Administered?
LMLYP, is there a link where those monthly figures of the SD program can be verified and I can follow them?
Thank you for your work
If anybody doubts the serious socialist/communist bent of this movement, listen to this gal from Seattle who sounds like she's from Argentina or Venezuela. She lays it out plainly:
After passing the "Amazon Tax," Seattle City Councilwoman Kshama Sawant went on this unhinged rant.
— Christopher F. Rufo ⚔️ (@realchrisrufo) July 7, 2020
She threatens to seize control of the Fortune 500 and overthrow the "racist, sexist, violent, utterly bankrupt system of capitalism."
If you oppose her? "We are coming for you." pic.twitter.com/2L17D6wScp
It was fraudulent in just about every way that it was conducted.
OT: HCQ Study Was Total Fraud
https://www.theguardian.com/world/2020/jun/03/covid-19-surgisphere-who-world-health-organization-hydroxychloroquine
The level of corruption is just astounding.
Thank you.
re GOFF being Lazar, I've not been able to find the actual court motion for that one, have you? If so, would you be kind enough to pass along a link? Thank you.
Thank you for the response. Yeah, I've never found a terribly good source either. I tend to stumble across them.
Is there a link at otcmarkets or elsewhere that mentions all the newly trading stocks? Or what tends to be sources on these?
If you can figure out a good approach, please let me know and maybe I'll be following you into trades. Maybe I'm the one who's doing it wrong. Keep me filled in. If you play one that way, I'd love to follow along with your thoughts in real time.
The one other risk I can think of is the shares don't always trade up in price when the deal gets done. I've seen the stock trade at $11, then the deal gets announced, market doesn't like it and stock trades down to $7, and by the time the deal closed it was trading in the 5's. The other thing is I don't know if ALL deals offer to redeem, so I think that's another potential way to lose.
But seriously, I'd love to follow along in real time if you try one. Good luck with whatever approach you go with!
I've seen some warrants get flat-out canceled. Also seen plenty of spacs not complete a deal and the warrants end up worthless.
Just so that I understand what you're trying to do, you're thinking of buying the IPO itself? If so, I've never done that, but usually the warrants aren't free, when the thing trades as a whole unit, might trade at $11 and then splits into the stock trading at $10 and the warrant at $1 or some such. But I still wouldn't call it risk-free.
Frankly, what I think happens more often than not, is that hedge funds seem to get involved in SPACs about every decade or so as they are now. They bring one public with the required number of shareholders, then they buy back the shares from many of those other shareholders (who were their friends) and now they control almost all the float, and they can run a stock pretty easily. It's almost like an SEC-approved pump and dump. PHUN ran to like $500 or something crazy, but PHUNW only traded to like $3, because they weren't exercisable for a year after the deal or something crazy. And the strike price was in the teens or something. None of it made any sense.
You could certainly give it a shot, but there are still plenty of risks. Lots of spacs don't do a deal and give the money back.