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BISN 1:100 Bison Petroleum Corp. Common Stock
I wouldn't be surprised if that changed, this is a most unusual situation. Other clearing firms had to be debited like COR and, their clients had to include retail shareholders that sold prior to the ex date. The entire situation is so screwed up that one wonders if it will have to all be reversed. I cannot imagine that a retail clearing firm would foot the bill while not receiving a dime from CRGP and do so quietly.
I hope that most did the smart thing and left the money effectively segregated in their account. They may get to keep it when this is all sorted out but, for those that reinvested, they have sure put themselves in a lose-lose situation. One way, they have nothing. The other way, they owe a substantial amount of money.
Losing everything never freaked me out as bad as going negative did. Had that prospect a few times when over leveraged in a few tight situations. Not a lot of fun, never again. I feel for the investors possibly effectively in that position with CRGP.
Has it been made clear just how much of the dividend was actually funded by CRGP?
Or did a substantial number of due bills hit other firms?
Seems like a lot of the discussion has been about a single block of stock but, all of the money that retail shareholders received didn't come out of thin air.
I was willing to lose it all
WAFR 1:2500 COREwafer Industries, Inc. Common Stock
It was a dividend scam alright, just far more sophisticated than I ever imagined.
Whenever a weak link exists...
Huge mess.
Wow, I have to tip my hat to these guys. They went way beyond the typical simple scam.
QUNI 1:139.2327 Quint Media Inc. Common Stock
EPOR 1:10 Epic Corporation Common Stock New
MDST 1:10 Mindesta, Inc. Common Stock
Lucky? That is how the financing agreements were written.
It was all in the 10-Q filed for the quarter ending March 31st.
The bills are starting to be paid.
http://ih.advfn.com/p.php?pid=nmona&article=68293329
The gig wasn't up when they did it with MDNT...
While this time may be different, the IDA continues to ignore all of the warning signs. Maybe that will come to an end but, why now?
How would a purchase from Jake change anything?
It might make a few investors feel better but it won't stop CD holders from converting at a discount and selling.
SOUL 1:40 Soul and Vibe Interactive Inc. Common Stock
At least Uncle Sam will get a nice cut if so lol.
I'm actually hopeful that the dividend was for real, no matter how ludicrous it is.
Interesting, good to learn something new. Never ran into that before but, then again, it almost never occurs either.
That is particularly odd. The ex date should have been June 30. An ex date after the pay date? How is that even possible?
I still have to wonder if someone is gaming brokerage computer systems...
Yeah, he should not have received a dime if he didn't own it on the ex date.
The entire story makes no sense to me. The idea of a junior miner paying out a large dividend is ludicrous enough. Especially in the current environment.
The first one was paid but small.
The second was not.
http://www.advfn.com/news_Southridge-Declares-Fourth-Quarter-Cash-Dividend_55509352.html
The pay date coincided with the SEC suspension.
https://www.sec.gov/litigation/suspensions/2012/34-68546-o.pdf
If I remember correctly some individuals had cash fronted to them by their broker on the pay date. Of course, it was eventually reversed. They couldn't buy SRGE stock in the meantime though and, the amount wasn't that substantial.
Didn't the last SRGE dividend play out in similar fashion as well?
I'm a natural skeptic as it relates to things that are too good to be true but, perhaps they did pay it out.
If not though, it would be a rather unique way of getting $ into your stock. Distribute a dividend without actually funding it. Ecstatic investors promptly reinvest fronted proceeds from their broker in your dramatically undervalued stock. Others pile in as well. When the dividend isn't funded, the brokerages automatically issue a margin call yanking back the funds selling out those that cannot meet it with fresh cash. A rather efficient way to really take your marks to the cleaners.
Now, perhaps in this case the dividend was fully funded but, the entire situation seems odd. I sure would not be touching that cash for a little while if it was put in my account but, perhaps I'm overly cautious.
Did they actually fund the dividend or did brokerages merely credit accounts on the pay date? Something seems really strange about it all.
Out of curiosity, what false information were you given?
4 18 19 20 please, thank you.
4 20 41 please, thank you.
It isn't like management can do anything to stem the share flow now...
Then inevitability of significant open market sellers has been chronicled quite clearly on this board.
This result was never in question after the 10-Q for the quarter ending March 31st revealed what was going on. No way that it could have been stated in any clearer fashion.
Jake has known this for a long time as well. The IDA should know it too but, they probably do not.
Perhaps they believe that the warnings only came from uninformed and speculative minded individuals. Perhaps they didn't fully realize that many actually know precisely what they were talking about and only state factual information.
I still am not sure as to how MDNT could legally transfer the lease to FONU under the terms of the lease agreement without the IDA knowing FONU's financial condition. Unless I'm reading it wrong, it could not be transferred without express IDA approval.
Curt Kramer is likely cashing in a few chips at massive profit margins. Any large bagholder would have been wise to utilize the promo opportunity and lighten up at a decent price level but, I suspect that almost no one did.
Brokers will sometimes deposit the cash in the account then yank it back out if the company doesn't actually fund the dividend. Seen it happen a few times.
SGAE 1:200 Siga Resources, Inc. Common Stock
You and your friends might find the financial filings of FONU enlightening. Jake is not deceiving investors there, it is very clear what is happening now and, what will happen in the coming months. Even lightly perusing the latest 10-Q reveals all that potential common stock investors need to know.
Effingham county taxpayers can blame the IDA though...
OXFC 1:2000 Oxford City Football Club, Inc. Common Stock
TKAT 1:25 Takung Art Co., Ltd Common Stock
BFMC 1:50 B4MC Gold Mines Inc. NEW Common Stock
REVI 1:2000 Resource Ventures Inc Common Stock
BETV 1:2.4 Be At TV, Inc. Common Stock
MVES 1:100 The Movie Studio, Inc. Common Stock
2 18 19 22 please.
2 4 78 please, thanks.