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a while back someone posted that a pinksheet company could sell 1 million dollars worth of stock without reporting it or without making the shares restricted or something. thats where the number comes from. i think it may have been ceeit.
it would increase the float but not the a/s if this theory is right.
AH Stopping at $1M traded?
$953,239 as of 2/4
2/5 - 6453 + 6214
2/6 - 9609.60
2/7 - 16431.256
Total thru Thursday is about 991946
If it's $1M and my quick math is right, today we will
have about $8054 worth of trades at ABOUT .032 = 251687
Reseller - you have more accurate # ? After you send me the #'s I got lazy. :(
actual: 352,000 .0273 16:09
guess: 680,000 .0273
One more thing. Can anybody tell me how the company can finance 55 employees with 400k in sales??? Hmmm.
By selling restricted stock at .17 a share
and putting your own money up front.
55 employees Salary AVG $50,000
+ Benefits = $100k/yr * 55 = 5.5Million
+ Costs of Hardware
+ PR
+ Real Estate
= 10 Million a year maybe?
I bet the sold a whole bunch of restricted shares at between .25 and .50 and then $5M dollars more at .17. Maybe that covers their expenses ?
ARGO hadn't yet been acquired from this timeframe, did they?
Maybe they can't officially count ARGO revenues from January ?
doesn't seem right tho.
Hey Mike - Net incoming would be POST-Payroll, yah?
IF so, that's 400k in the bank.
Likely the contracts stipulated that the fees are due at time of installation. If the company couldn't install ANYTHING until they had permission to use FOLO, they have been responsible for all of the up-front fees until they turned it over to collection. Since they are backed-up, they are installing as fast as they can, which also means that they will start to collect funds too
well, we see YOU posting all the time. It is rare that a family is involved 50/50 on things like this. It's cool to see.
and really, if the float hasn't gone up from 42M,I'd think that iHUB will own the majority of the float here pretty son.
If I only had quick access to dollars from another position, I'd really be tempted to add about 500k more shares and go or at least what you mention - the double or triple.
rosebud - cool beans
Curious - why is your wife going and not you?
Looking forward to any hearing about any feelings/opinions she has while there.
David - did you specificaly set your limit buy at .0253 ?
You could also look at this and show that pink sheets in the penny range, do not trade at a third digit unless it's discounted. Maybe this is the last bit of the AH dump and they're done selling with the 340,000 ? :)
I hate seeing the 18% Price Drop
Even if it is caused by 10,000 share sales.
EFFC To Da Moon!!!!!
:)
So Cowpatty, here's the main 'Problem' if you ask me.
a) Do I love that they are posting "something" - ABSOLUTELY
note: THANK YOU EFFC!
b) Am I disliking the grammar issues - ABSOLUTELY
It probably is "true information", because it's too
grammatically incorrect to be faked. That's a good
thing, but still - with the amount of $$ that this
company has raised, the amount of employees,
it is something they should have worked through by now.
See, even though they are a small company - it's my believe that the majority of people > 18 years of age have had to take Both French and English for the majority of their lives living in Montreal. Being so close to the border, I believe that probably 50% of the population is French Speaking and 50% is English Speaking (my opinion anyway, just guessing).
So, there MUST be someone out there who speaks and writes fluid english. Actually, I know the company has relations with someone who DOES speak and write ENGLISH very well. His name is Andrew Barwicki. If Andrew can respond same-day, it seems to me that the FAQ is sort of like a PR job and maybe EFFC should use Andrew to translate FAQ Answers.
Thanks for listening.
I'm in complete agreement MLK!
Even though this company is 'french' in nature, this appears to have been pasted directly from Google Translator or Babelfish or something.
:(
well, there goes my 15M share theory :(
Hopefully their $3.70 investment will yield them at least $370!
EFFC Investor Fact Sheet
Thought I'd take a few min and scan the investor fact sheet for thsoe of you who haven't seen it. The front and back are lesser quality, but the two middle sheets should have sufficient size (1 MB Each) for you to read all of the details.
http://www.scottc.org/downloads/effc1.jpg
http://www.scottc.org/downloads/effc2.jpg
http://www.scottc.org/downloads/effc3.jpg
http://www.scottc.org/downloads/effc4.jpg
14,721,050 AH total ?
so, unless I missed a day since Reseller's last post, I'm predicting an AH settlement of 278,950 shares tomorrow
249,817 16:19 .0335 AND 141,983 16:19 .0335
391,800 total
Who's got recent AH Count?
How close are we to 15M ?
I'm predicting that the AH will stop at 15M shares
kondo. I'm surprised that your 401k company lets you buy pink stocks in your 401k acct. NICE!
My collegue is in EFFC now. After a long conversation about the possibilities in store for the company within the next 60-90 days, he has started to add to a position for at least the "potential lottery ticket" nature of this stock.
RM: Your analysis of the situation is interesting. I'm going to interpret some things based on extrapolation and opinion
a) I don't believe it would make sense for EFFC to compete against the companies that have billions of dollars to develop this. This would make bad business sense. Most of the companies in this playing field, LIKELY, have to have this solution 100% accurate to put it into production in their 'line of business'. Take BMW/Mercedes/etc for example... There is no way they would ever deploy this to end users without approval from whatever silly regulatory body needs to approve it (if it does), and no chance of recall. Don't things take 5 years to make it to people in this space? At least? (that is, unless you buy the $200,000 car).
b) I believe it makes sense for EFFC to work with small OEM's and small-medium sized companies because they have a product (at what appears to be a reasonable price) that can be consumed by any size company
c) Because the company is small, they are likely 'Easy' to do a contract with. Dealing with a large company, trying to put together a legal agreement to buy a product such as this, would involved dealing with the corporate legal team - maybe not even through a LARGE oem. Dealing with EFFC, you likely can deal with people directly at the company... small companies like this I bet.
d) EFFC has a product NOW(ish). Other companies (per A above) likely aren't shipping a complete solution today. They have bits and pieces and not a complete solution. Also, if other companies find that EFFC's monitoring environment is "best of breed", they might find they can integrate their hardware device into EFFC's monitoring profile and ultimately EFFC benefits from that. Ultimately, they turn into the 'operating system' for Trucks where disparate GPS/etc hardware sends CDMA/3G signals back to a home base. At the end of the day, an open standard for use of their system - or API based access would be an awesome thing for them to have. HARDWARE is cheap and continues to get cheaper. Software costs per-seat licensing AND per-month monitoring. I pay a company $20 a month to monitor my personal home security system - Companies can now pay a monthly fee for better piece of mind. :)
Anyway, thanks for the thoughtful criticism - the business model of EFFC needs to be such that your comments/concerns either are handled, or, the footprint of the entire trucking industry is such that a 'small fish' like EFFC can play without even touching the radar of someone big... BUT, if EFFC gets enough foothold in the small-business market, and international market... They quickly become an acquisition target.
"Want to" and "CAN" are two different things.
:(
Mirrored AH Trade?
0.0403 19,400 16:18
0.042 19,400 13:31
I've made over 30% 'profit' on the 100,000+ shares I bought at .032 :)
Now, the vast quantity I bought at .30 is another story
I thought it was my buy that went through. I've had a 7500 share one using up my extra pennies sitting at .032 for a while now, but someone else's executed.
I'm going to be sad if you're right Cee-It. I was going to sell 250k shares at .058 the other day so that I could buy almost twice as many back at .032-.035
oh well, I guess I'll have to be happy with what I have.
CGFL has jumped up to .064 - are chart people selling today?
pinksheets.com - List of Market Makers
I sent another email to pinksheets yesterday asking about all of the MM's that do business with EFFC.
---------
To: Issuer Services
Subject: List of Market Makers for EFFC
Could you please send me a list of the Market Makers for Symbol: EFFC
EFFC — Effective Control Transport, Inc.
-----------------
Reply
Please find below a list of market makers quoting EFFC as of this date and this time:
AUTO Automated Trading Desk Fincl Svcs Mt. Pleasant, SC
CGFL Capital Growth Financial LLC Boca Raton, FL
DOMS Domestic Securities, Inc. Edison, NJ
ETRD E*Trade Capital Markets LLC Chicago, IL
FRAN Wm V. Frankel & Co. OTC Trading - Jersey City, NJ
GNLN GunnAllen Financial Inc Eatontown, NJ
HDSN Hudson Securities, Inc OTC Trading - Boca Raton, FL
HILL Hill Thompson Magid & Co. OTC Trading - Jersey City, NJ
JEFF Jefferies & Co., Inc. New York, NY
MAXM Maxim Group LLC New York, NY
NITE Knight Equity Markets, LP Jersey City, NJ
RBCM RBC Capital Markets Corp. New York, NY
SALI Sterne, Agee & Leach, Inc Boca Raton, FL
SBSH Citigroup Global Markets Inc. New York, NY
SSGI Seton Securities Group Union Beach, NJ
UBSS UBS Securities, LLC Stamford, CT
VFIN vFinance Investments Boca Raton, FL
WMIN Westminster Securities Co Trading - New York, NY
Regards,
Issuer Services
Pink Sheets, LLC
(212) 896-4420
pinksheets.com - "Limited Information"
I sent an email to pinksheets.com yesterday related to the Limited Information sign posted on EFFC. Here's the response.
My Email:
--
Recently, Symbol EFFC was changed from "STOP" to Limited Information "YIELD"
Can you please tell me what changed to allow this change in status? I cannot find any change on the web site that would indicate that information has changed on this company
EFFC — Effective Control Transport, Inc.
--
Reply:
EFFC is in limited information because of the 8-k posted on October 16th. This will keep the company in Limited Information for 6 months after 10/16 (around mid April).
Best regards,
Pink Sheets, LLC
(212) 896-4420
Jenny. I've seen pink sheets issue a hundred million or a billion shares a few times. The math still works out to < 1M though if you think about it
a Billion Shares = 1 000 000 000
In order to stay under the million dollar threshold, they can issue a billion shares at the price of .001 and make a million bucks. i've never seen a stock with a share price north of .001 do a billion shares.
If you look at Cee-It's post and extrapolate a little bit at the average price, you come to about 15,000,000 shares equal about $1M
This would raise the Float and OS 15 million.
My guess is that at about .07 is where the upticking will pause or drop.
It appears to me that they had to put back the old server. I found that my login session was still there this morning, so unless they were able to copy all of those sessions over from the database, I should have been forced to reauthenticate.
I wonder if the new site was supposed to come with the new server?
As of 12:30 EST, the web site is still not back up. HOpefully that doesn't mean they are still waiting for the new server to go in.
the after hours ask has been reverted to 5000.