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BMAK digging a bigger hole the more it waits....... T + 13 from December 22..............
No stock. The trading shows that, NITE ping pong again, waiting for the ball to drop.
And exactly what technology? Secure mobil payments? They are now 5 years behind and all of those contracts are already taken by other security companies. New smart card? If it doesn't have biometrics in it, then they are off the rails because thats their "allegedly" core competency. They are doing nothing but throwing dung at the wall hoping something sticks. They are saddled with death spire funding, a MLM "deal" think AMWAY, and the only guy who knows anything on the exec. mgmt. team is not even heard from. I am sure funds that raised money for them are now cringing in their seats watching these guys, who have no business or market clues, run this company into the ground.
NITE may be running interference in the interim. They also know what may be coming, and they know there isn't much stock out there to fill orders, even if they sell at the ask.
I believe the CEO is preparing for the JP Morgan Healthcare Conference next week. Seems she already has her hands full.
LOL, that 2000 ask order - NITE doesn't want this to run either, IMHO
No buying, no squeeze. Its as simple as that. I would wait around too if I were BMAK.
WOW, 12% dilution on a 250K share float? Do you hear how ridiculous that sounds? You will live and die by technicalities.
Cover with what? You guys are simply incredible with your theories.
You need sell orders so they can pick up and cover. Buys unfulfilled means no stock available.
Rule 204 – Close-out Requirement. Rule 204 requires brokers and dealers that are participants of a registered clearing agency[8] to take action to close out failure to deliver positions. Closing out requires the broker or dealer to purchase or borrow securities of like kind and quantity. The participant must close out a failure to deliver for a short sale transaction by no later than the beginning of regular trading hours on the settlement day following the settlement date, referred to as T+4. If a participant has a failure to deliver that the participant can demonstrate on its books and records resulted from a long sale, or that is attributable to bona fide market making activities, the participant must close out the failure to deliver by no later than the beginning of regular trading hours on the third consecutive settlement day following the settlement date, referred to as T+6. If the position is not closed out, the broker or dealer and any broker or dealer for which it clears transactions (for example, an introducing broker)[9] may not effect further short sales in that security without borrowing or entering into a bona fide agreement to borrow the security (known as the “pre-borrowing” requirement) until the broker or dealer purchases shares to close out the position and the purchase clears and settles. In addition, Rule 203(b)(3) of Regulation SHO requires that participants of a registered clearing agency must immediately purchase shares to close out failures to deliver in securities with large and persistent failures to deliver, referred to as “threshold securities,” if the failures to deliver persist for 13 consecutive settlement days.[10] Threshold securities are equity securities[11] that have an aggregate fail to deliver position for five consecutive settlement days at a registered clearing agency (e.g., National Securities Clearing Corporation (NSCC)); totaling 10,000 shares or more; and equal to at least 0.5% of the issuer's total shares outstanding. As provided in Rule 203 of Regulation SHO, threshold securities are included on a list disseminated by a self-regulatory organization (“SRO”). Although as a result of compliance with Rule 204, generally a participant’s fail to deliver positions will not remain for 13 consecutive settlement days, if, for whatever reason, a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency in a threshold security for 13 consecutive settlement days, the requirement to close-out such position under Rule 203(b)(3) remains in effect.
LOL, in these situations, you start appreciating NITE and CDEL. LOL
If BMAK shows up on the Ask, it will be ignoring the companies warnings and will have its own compliance issues. As far as a "halt" is concerned, the stock spicket has been turned off by the company, and this is now a private civil matter between the company and that holder. There would be no reason to halt trading IMO.
Just realized that short report was correct all along. !!!!!!
Great point Cheeky. Where?
My ilk.....thats OK, I forgive you. Based on what we knew from the disclosures and the company, there were no changes. Obviously the company was surprised by this, and took immediate action. Thought you would be happy there is a HUGE short now.
Those are the same numbers as in the release, correct? So? Whats you point?
Guess they needed a few hours to figure that one out TFN. But it looks like they did, and put a quick stop to it. Nothing worse than a woman scorned. That's good for us though.
Yea, and the numbers in that Tweet are now confirmed in the PR as well. No hidden conspiracy here, just a MM who now got caught with its pants down because of its client. What will the reaction in the market be?
Rx Safes Discloses Unauthorized Debt Conversion
Marketwired RX SAFES, INC.
5 minutes ago
HENDERSON, NV--(Marketwired - Jan 5, 2016) - Rx Safes, Inc. (OTCQB: RXSF), the developer of autonomous fingerprint healthcare security products, announced today that it was made aware this morning, by its transfer agent, that an improper and unauthorized series of debt conversions have taken place since December 24, 2015, with regard to a prior obligation of the company.
The debt conversions were not properly noticed to, nor approved by the company and the company believes that the party has submitted irregular paperwork in order to avoid notifying the company and to expedite trading over the holidays. The company has put a "stop" on all such requests by the subject party to the company's transfer agent and will contest any and all requests from said party, or its assigns. The company is prepared to take any and all legal action to protect its rights and those of its shareholders.
"I want to assure our shareholders that we do not take unauthorized debt conversions lightly. We intent to take all expedient action to prevent any further unauthorized conversions," stated the company's CEO, Ms. Lorraine Yarde. She added, "The amount of shares in question so far total less than 30,000, but based on the recent market activity, it appears that the holder jumped the gun. These shares will not be delivered until this matter is resolved to the company's satisfaction."
The current issued and outstanding shares of the company, according to the books and records of the transfer agent as of today's date is 1,467,498, and the public float is 283,025, including the shares in question.
Guess you didn't bother to read the news the company just put out? Did you?
Actually, another conspiracy theory that will bite you back.
You are being nitpicky YD. The increases are nominal and are probably tied into contracts the company has and needed to close year-end. No conspiracies or hidden agenda's that normally plague OTC companies here. But I enjoy your analysis nevertheless.
LOL, everyone was screaming for more shares in the float, and the increases are negligible at best. Think you are spot on KGS.
And now we know exactly how many shares are out there, whats the next conspiracy theory? 76% of that float is held by insiders. Either you do THIS math or you don't. Thats 215,099 held by insiders who CAN'T sell them without filing proper forms and providing notice. Where's the notices? You heard from the CEO that none of the major shareholders or insiders will be selling any time soon. And some of you guys are complaining and pointing to a 67,926 share actual float that can be traded as OMG, there was an increase in share count? Do you realize how ridiculous that sounds?
If there was a conversion, you would see the O/S increase substantially. IMO, its a rogue seller with no basis, probably one of the Stratton ILK that got their shares a LONG time ago. Nothing more. BMAK showed up because obviously they got an order to sell. The other MM's are probably caught short. But thats just my opinion. I could be wrong.
LOL, so barking up the wrong tree. And when you finally get THAT information, and it shows no change, what will you say then?
Again, falling behind the times with weak leadership that doesn't have a clue. New smart card? Actually, a company called Smartmetric not only has the newest smart card, its biometric - something these fools should have thought of. And you guys are getting excited over a MLM firm paying $2M for an engineering experiment? GLTUA
Actually if you do own 30k shares and are long, good for you. Call Lorraine and introduce yourself to her. She loves hearing from actual shareholders.
He said 20k pre split. Right? That's not 4m pre split. That's 20k pre split. That would make more sense.
Quite obvious - BMAK is putting back to itself the stock it sold before the end of the year. They would NOT be top bid if it weren't trying to cover. BMAK is ONLY on that ASK to drive the price down. They are ONLY on the Bid to cover. Thats it. If they were a pure seller, they would be way off the bid.
At some point that seller will be out. Hopefully soon.
Gino has no clue gentlemen. None. Now he is embarking on a "new" smart card for a MLM company.
Possible? yes, probable? NO. I spoke with Lorraine a few months ago, she was a featured speaker and exhibitor at 2 major cannabis conventions, she said everyone - EVERYONE - was F O S and she decided to stop pushing that market until the FED legalizes it, and passes security aspects for it, just like FDA and DOJ does for controlled substances. GET OFF this MJ kick already. There is no legitimate money available to ANY company dabbling in cannabis, and every single MJ stock is in the tank with absolutely NO HOPE of climbing out until the FED legalizes it nationally. Only then, can federally backed banks (investors) invest in that market. Until then, I agree with Lorraine, its a complete waste of time and resources.
If you go to the company website, there is a video of the CEO at a trade show, showing the companies pot safe. Maybe you should request to become a distributor and she will cut a deal with you. I don't think the company would want to skirt any market opportunity, but it looks like she tried that path in the past. They have it. Its in the video. I think she wants to continue to focus on professional and consumer healthcare, so she may be open to someone else running with that. You never know.
They already do.
If you're not long, your nut is already busted. You got a busted nut. Get out of the way.
ALL NASDAQ and NYSE companies HIRE analysts to cover their companies, growth potential and to help investors understand the nature and size of the company's market opportunity. These analysts are usually paid huge fee's, directly, or through working for an investment banking firm that has a contract with the issuer. Its taken a year before this company commissioned a report, and its only a preliminary report. This analyst has covered the healthcare sector for NASDAQ and NYSE companies, and was retained independently, outside of any investment banking firm, so kudos' to the CEO for keeping costs down, but providing valuable information to the market.
Hoping everyone here has a safe evening. Happy New Year to all.
TFN does make some sense, by IMHO, this was a quick short attack after the BMAK debacle the last 2 days, by placing an ASK wall by NITE saying, fill my bids down here or I won't let you pass. To its chagrin, someone took out its asks and he had to reboot. I still don't believe there is real stock out there to fill unless people are taking profits or selling for losses today.
Guess there was a seller at end of year. Great time to average down right now before the New Year or accumulate more, 2016 is 1 trading day away!