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Beautiful chart there at the end. But it now appears to be getting close to being overbought, but sometimes they'll stay over 80 or so on the RSI for a while so maybe more money to be had. But if I were long, I'd at least lock in some of that ST gain but let a few ride just in case it stays up there. But who am I to give advice on this? I lost my arse here ... plus some!
But kudo's to the new longs on your gains! No doubt, I pulled the plug at least a couple days too early. I just wish that my crystal ball worked a little better.
Thank, I appreciate that. Best of luck to you as well. Take from UPDV what I left on the table. I left quite a bit of it there LOL! I would much rather see my money go into another fellow investor's/trader's pocket than Kamal's for a change.
Fair enough, agreed. But hind sight is always 20/20 isn't it? Where were you months ago?
But if I would have held another month or so (till Dec or Jan) I would have lost even more. So I'm happy to be counting my blessings at what I got out with.
Obviously, you must be new to UPDA/UPDVE/UPDV. I've been in and out of their stock for years and am well aware of the games they play. The only ones that ever made out like bandits on their stock is Kamal and the lucky day traders, I even made a few bucks on it a couple years ago. Anyone else who may have bought this as an "investment" has lost their arse many times over. Pull up this chart. It demonstrates well the effects of their dilution program:
http://finance.yahoo.com/echarts?s=UPDV.PK#chart3:symbol=updv.pk;range=my;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
I feel very sorry for anyone who bought this around June of 2000 and held it until now thinking that maybe, just maybe, next month would be better. You'll soon find out like the rest of us did that "next month" never comes.
At .002 UPDV's market cap is at least $2 million bucks. They have 2B shares authorized, and per Jack's email as of early Sep 2008 he was estimating the float alone to be 800M shares. And float doesn't include restricted shares held by insiders. So my guess is they're at well over a billion shares currently outstanding, maybe closer to being maxed out at 2B shares.
The rate at which UPDV dilutes shareholder value is just incredible.
But to be fair, if (and this is a big IF) UPDV is close to having a profitable quarter, even a market cap of $2-$3M might be a bargain (assuming they made arrangements with Sheridan to keep them at bay a little longer).
I just don't think UPDV is anywhere near turning a profit, based solely on their action (or inaction) of not filing. If they had good numbers to report they would have been in a big hurry to make them public to the bag, I mean shareholders.
They still need to restate numbers from several prior quarters, that's why they got booted from the OTCBB in the first place (because they ran out of time with the SEC). But the delay in making the updated numbers public tells me that they will be much worse than most here were, or are hoping.
I couldn't agree with you more. But still money to be had flipping this if timed perfectly. But I'm not about to get involved with this again. Been burnt once, that's one time more than enough for me.
Nah, just another pump before the next mega dump or 1 for 100 or 1 for 1000 reverse split. I'm happy with locking in at what I did to preserve what little was left of my original "investment" if you want to call it that.
Remember, UPDV needed to raise some quick cash, this is probably their attempt at it. But they'll fall far short of covering the millions they owed and this will see a new 52 week low before long. My guess, a month. But by all means flip it while you can to make some quick coin. But I'm done with UPDV. Might pick up more at .0001 next month to flip, but anything over that would be overpaying.
Best of luck to you. You'll need it with this one LOL!
I think everyone "understands" what BIHC wrote, but the question should be whether everyone "believes" what BIHC is telling the shareholders in that press release. Only the BIHC company insiders know "exactly" what's going on behind the scenes.
To be fair, BIHC very well could be going through all the necessary red tape to complete the sale transaction ... but on the flip side, they very well might already know that the other party has already backed out and they're just stringing along the shareholders ... because they can (BIHC never promised any shareholders a rose garden).
And I don't believe for a second like some of you do that the sale will go through only because both sides have already wasted too much time and money up to this point. That makes no sense. Both parties knew upfront that there would be expenses associated with wheeling and dealing of this magnitude, and the fact that there would be no guarantee of a favorable outcome for either party.
The share price is where it's at only because the deal still isn't carved in stone. If it were a sure thing, the share price today would be trading at least somewhere close to the anticipated cash dividend per share.
The market determines share price of any company's stock. And based on BIHC's current share price of 1.5 cents, the market doesn't have a lot of confidence in ever seeing that cash dividend. The market's usually right, but not always.
Disclaimer: I don't currently hold any BIHC stock. But if I can pick up a few shares at 1.5 cents or less I'll buy a few to add to my "lotto play" portfolio.
Most of the happy campers have left the building including myself. I just sold the last of my shares @ .001 and counted my blessings.
I'm not falling for this orchestrated past few days run-up in price. There is no real dollar volume to support it and it can easily be one or two traders or insiders making it look like interest is picking up on this stock.
Once this person or (persons) convince others to fall for this set-up (trap) they will immediately dump all their shares and leave the unsuspecting holding the bag again (once again).
This person or insider knows that it's all over but the crying for UPDV shareholders because all that money was due Sheridan and no way UPDV met the due date on terms. And those terms include meeting certain profitability benchmarks which in my opinion hasn't happened (especially now that the bottom has fallen out of the price of oil).
Notice how in the above paragraph I said it's all over but the crying for UPDV "shareholders". I didn't say "the company". I choose my words carefully. UPDV the company will be around for many more years just like they have been in the past, but none of the retail investors have ever made any money on investments in their stocks because of all the past dilution. And you can rest assured that Kamal will continue to dilute shares to continue operations just like he has always done ... with total disregard for the retail shareholder (bagholder). It's all he knows.
Traders might be able to make a few bucks in this stock buying at the right time and quickly getting out at the right time. But forget it if you hold several million shares and expect to hold them for a year or longer expecting to sell at a profit. It will NEVER happen.
Mark this post, UPDV will retrace from .0013 or whatever to .0004 or lower within the next 21 days. I'm thinking more like within the next 7 days, but unless this person can convince others to buy at a higher price besides himself, he won't dump his position. He's looking for at least $100K a day in dollar trading volume to give him the strength to sell into. Right now the dollar trading has remained well under 20K a day, that's why I have no doubt that this is just one or two people (a tag team) manipulating the stock price for their own benefit. Sure, there's a few other people falling for the chart who might have picked up a few shares over the past week or so, but 90% of the buying has been by this tag team.
Best of luck to anyone "holding" UPDV stock.
If you placed your GTC order prior to Oct 1st, it is automatically cancelled after the market close on Oct 31st. Here's their cancellation schedule on GTC orders:
https://trading.scottrade.com/home/FindInfoFrame.aspx?page=https://help.scottrade.com/C15/GeneralTrading/Document%20Library/Open_Order_Cancellation_Policy.htm
So it looks like UPDV has a little over $4.1M due tomorrow. Maybe Sheridan will grant them another forbearance for a million dollar fee this time instead of a half a mil LOL.
I think eventually there will be a stock dividend. It's not that far fetched, I've gotten them before from penny stock companies. Now whether or not the stock dividend will be worth anything years from now after the restrictions are lifted is another story, but ya never know 100% either way.
I also believe that one day this will trade again offering another chance for flippers to make a few bucks. I plan to play both angles with my 31M shares.
And naysayers, you can save your finger tips. No need to try to save me from myself. I'm a big boy and if none of this pans out it's no biggie. I've lost over 3 grand before in a single session at a craps table in Vegas. Some people like to gamble and I happen to be one of those. If gambling's not your thing, then that's great too. But why mess around with penny stocks?
Have a good weekend all.
Stockster, you're entitled to your opinion but I disagree. I say FFGO does follow through with the restricted stock dividends. Cash dividend, no. Reverse merger probably no. FFGO as a going concern after the stock dividend, probably no.
Why do you think that a restricted stock dividend is that far fetched? I've received many in the past from other penny stocks. Granted, most haven't amounted to much and I'm not saying that shares of Hurasu will or will not. Odds are, they won't, but so are the odds of winning a lottery (tens or hundreds of millions to 1) yet people win them too.
I'll continue to hold my 31M lottery tickets for a muti-bagger pop in share price and/or a restricted stock dividend, whichever occurs first (if either). If they're all losers so be it. Life goes on.
Good luck to you.
Wrong wannabanana! I think you're just trying to scare people, but I'll give you the benefit of the doubt that you just interpreted what you read incorrectly.
Lumb's remark (post 62306) about the pigs flying was in reference to Mack's question (post 62305) regarding a cash dividend, not the restricted stock dividend.
Just by reading post 62305 and taken out of the context of Lumb's prior posts, I could see where you may have been confused.
Mack-n-cheddar asked Lumb "...will there be cash divi as well as restricted shares?" Maybe if Mack used the words "in addition to" rather than "as well as" it'd be more clear.
It was already established in Lumb's prior posts (61999, 62038, 62046, 62202, among others) that the stock dividends would be paid.
At best that's 1,400 dollar volume traded. Why would those peanuts move this? Now if it were $1.4M trading hands this would have certainly reacted.
All stocks are risks. In UPDV's previous Qs and Ks they've been mentioning that unless UPDV can raise funds they will have to discontinue operations. If Kamal can't raise money he closes shop. But it's not like we weren't warned.
I gambled with this and lost $17,700. Still holding 1.32M shares just as a memento. Should it ever get to 1.33 cents per share I break even (but, pigs will fly first in my opinion). But it's not the first time I lost on a gamble nor will it be the last.
Just unbelievable Kamal's total lack of concern for his shareholders. He certainly doesn't deserve any shareholders. I picture him in an Armani suit sitting behind a big mahogany desk leaning back in his executive leather chair with a fat Cuban cigar hanging out of his mouth laughing his ass off at us retail bagholders. He will never lose a dime in his scams, but I'm a firm believer in what goes around comes around, and I wouldn't want to be in his shoes on judgment day. Maybe he will save Jack a place by the fire, or Jack can save him a place by the fire if he gets there first.
Best of luck to all.
They type them in south africanese.
But don't you think that a market cap of 3 trillion dollars is a little high for a pink sheet company stock?
Also, log into your brokers website and look for a link to their stock screener. You will most likely find it under a tab labeled stocks/research or something to that effect.
I'm showing .0005 bid .0006 ask as of a few minutes ago. But a wide spread like you mentioned is pretty typical of pinkies when the MMs don't want to mess around with them. They don't want to bother because no trading volume means no commissions to them. They're still MMs for the stock, but it's their polite way of saying "Wake us when there's a little more interest in this stock".
Don't feel like the Lone Ranger slob. Most penny stock companies are riddled with fraud and shady CEO's. I'm not saying that money can't be made off of them, it's just that for every 5 winners you'll have 95 losers. But one huge winner can negate the affects of the 95 losers in my opinion. The key to trading pennies is to set your exit strategy before you even buy, and then stick to your exit points. For example; sell if the stock drops 25% or if it appreciates 50%. Another good sell indicator would be to immediately sell any penny stock that you hold if you notice they're being pumped by newsletters or spam emails. Such stocks usually fall 80 to 90% within days.
Best of luck to you.
And if you do the math 1 for 10 x 1 for 100 x 1 for 76 = 1 for 76,000. To demonstrate just how dilutive that was, if you owned 7,600,000 shares on 11/13/2003 and never sold any you'd have just 100 measly shares left today. Or in portfolio dollar value, your UPDV portfolio would have shrunk from $4,505.00 less than five years ago to a piddly 6 cents today. And the worst part of all this is that UPDV is no where near finished diluting. It's all Kamal knows.
It'll be a long wait. Teens won't happen.
LMAO! Nice close today UPDV/UPDVE/UPDA/UPDVQ or whatever your symbol is now. Can only laugh about this now because it's far beyond crying. But I might consider adding more of this POS at .0001. Anything more than that is a little too pricey.
Way to go Kamal! I have to hand it to you!
I was saying that when this was at 3 cents, then 2 cents, then 1 cent, then sub penny, then trip zeros 0009, then 0008, then 0007, then ... you get the picture!
I've come to the conclusion (and painfully late I might add) that there is no such thing as "way oversold" in regards to UPDA/UPDV/UPDVE or whatever they're calling themselves now days. I'm still holding 1.32 million shares hoping for the miracle of all miracles.
I unloaded close to 4M shares a week or two ago. And to think I put about $23K into this thing at an average price per share of two zeros and a 5, not three zeros and a 5! What kind of drug was I on?!!! Someone please, next time tell me to put the crack pipe down!!!
Here's a good place to start. Hurry up and bookmark this link before this message gets deleted.
http://www.investopedia.com/university/
I've learned not to trust any CEO. In my opinion most couldn't care less about their peon shareholders, even though they make you believe that their number one job is to create shareholder value. It's all a crock.
I quit "investing" shortly after 1 click $7 trading from home while in the Lazy Boy recliner with the laptop while wearing boxer shorts became a reality. Swing and day trading is the only way to make money in the markets since this advent.
It's just too friggin easy and cheap to move 10s of thousands of dollars with the click of the mouse. Not like the old days when you traded paper certs and it meant 3 hours of your day and a trip to the broker and several hundreds of dollars in broker fees to unload $10K in stock. Back in the days when the average investor didn't sit in front of his computer watching every tic in daily price action. Back when you got your stock prices "after the fact" from the back of the daily newspaper in fine print so small that if you were over 40 you couldn't read it.
Back then it didn't make sense to jump in and out of stocks because it was too time consuming and the broker fees would have made it too cost prohibitive. So of course you would just try to find a decent stock and sit on it for years. Those days are long gone in my opinion.
Seriously, the way to make money now is to buy a stock today and sell it tomorrow if it pops 3%. Then peat and repeat the process the next day or week. That's how 95% of the money moves on Wall Street in this day and age. And the beauty of it is you don't have to worry about spending hours upon hours researching SEC filings, etc., etc. before you buy. Just find a stock (any stock good or bad) with upward momentum on the price, decent volume, and maybe a few other key technical indicators and jump in for a short ride.
Think about it, in one day you can make what it takes a conservative money market investor a year to accomplish. I use to buy and hold stocks for years just to watch them go no where or down. It was a huge waste of time and money lost by not having that money working for me. Now, if I can't average a 25% ROI per year I consider it a personal failure. It's such a good feeling to "realize" gains once in a while rather than just watch the "paper" gains vanish before my eyes.
The key to swing trading though is to set your exit points before you even buy and stick to them. Remove all the emotion and trade like a robot. If the stock goes X% against you sell, if the stock appreciates Y% sell. It's hard to take all emotions (fear, greed, love, hate) out of the equation. But really, unless you do, be prepared to get seriously burnt. I'm speaking from experience on that advice LOL! I got caught holding a few empty bags in my day (and one very recently) only because I didn't follow my own advice, and I let my emotions get the best of me.
Best of luck to all here and to those who lost anything in WAMU. Some of you may have lost a fortune but as bad as it is there are ways to get it back. Several millionaires have lost it all only to get it all back plus some because they hold the key (knowledge). But pick up the pieces and move on with dignity and don't look back. I look at any of my financial failures as just tuition paid for the knowledge gained. And if anyone tells you that they've never lost, I'm here to tell you that they've never won either.
All the above are my humble opinions.
Actually that's not such a bad idea.
You missed that call by a little bit barry.
"This doesn't sound like a company under pressure from the FDIC:"
Well apparently they were. I hope most of the longs were able to get out of this before the you know what hit the fan. What a crying shame. I wouldn't touch any financial stock with a ten foot pole. Some people may foolishly believe that they are at bargain prices now. It's going to get much uglier before it gets better. No Band-Aid is going to stop the hemorrhaging in the financial markets. There aren't going to be any quick fixes. This will take years.
It's not their physical location as Santini is in the Bahamas. That's just a mail forwarding facility (or an address in the states). That facility forwards mail for over a hundred companies and shell outfits if I'm not mistaken. But this is old news to anyone who's been in FFGO for a while and I knew this before I bought. I bought for the story, hype, interest. Any pinky with a good following (whether pumpers or bashers) is great potential for profitable swing trading. I look as any divies as a bonus if they happen. But I'm more interested in price per share appreciation.
I have shares in my ScotTrade account that were spin off shares/divies of other small outfits that are still restricted and of no value. And they have been sitting in my account for years. So like others, I'm leary of microcap stock dividends, but a cash dividend no matter how small would be a plus. Not that FFGO will or will not pay a cash divie, that's still to be seen. But I did own a penny stock in the past that actually paid a few cash dividends and today I think it trades under 20 cents, so anything is possible in penny land.
Well considering all the other irresponsible CEO's at AIG, WAMU, etc., etc., Kamal fits right in there with the best of them. I guess it's a requirement for CEO's not to know what in the hell they're doing except how to line their wallets. I only wish that I could run a multi billion dollar company into the ground and have my BOD award me with tens or hundreds of millions in annual salary and golden parachutes to do it. That'd be a blast! I always love a good "can't lose" situation.
Next week never seems to get here LOL. And "BIG" can mean anything Oski. Hopefully the BIG you are referring to means GOOD
But come on, 15M @ .00019 is only $2850! I want to see volume go back to 1B plus shares traded each day. I too think we'll get a PR about the dividends within the next week or two, but I just hope it good enough news to sway investors/traders to bid the price up a little. This .0001 bid is getting stale. But it still beats a zero bid so I should be happy.
Have a good weekend all! It's going to suck in my neck of the woods as they're predicting 3 to 6 inches of rain and we already got 2 today with no end in sight.
That sums it up nicely. Concise and to the point LOL!
There were SEC reporting errors in UPDV's previous Qs and Ks and investors were told not to rely on those numbers and that they were in the process of making all the necessary corrections and refiling them. Kamal wanted all the previous filings corrected before filing the June 2008 QTR. So long story short, they missed their much anticipated 2nd QTR 10-Q filing deadline and got booted off the OTCBB and relegated to the pink sheets where the minimum sentence is 1 year ... and they still haven't filed anything other than notices that they were going to file at an unknown future date.
Add to that drama, the rapid rate of dilution. On 07/08/2008 they increased their A/S from 250M shares to 950M shares. And just a month later, on 08/11/2008 they increased it yet again from 950M to 2B shares. The T/A is gagged so it's impossible to get the current share structure, but several weeks ago the float was at an estimated 800M shares. But the float doesn't include any restricted shares held by insiders, so at a minimum the O/S is somewhere north of 1B shares. The more they dilute, the thinner each slice of UPDV pie that you own becomes. So as each share gets thinner, so does the intrinsic value of each share.
Investors (myself included) are just getting fed up with the same-o same-o and we're losing all confidence in management.
At least the above is my reasoning for the nose dive in SP.
Means nothing. They had the same headline on August 26th and it linked to the Q1 filing just like this one does. I guess they'll keep posting that headline every month until they finally file. UPDV just wants to give us a monthly reminder to look ... just in case they happen to file. We'll get another reminder on Oct 25.
Anything that UPDV files with the SEC will be seen at the link below, and still nothing:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=923771
Most everyone has left the building. But if you're the last one out please turn out the lights.
Thanks slob. It's not over unless UPDV goes bankrupt which is always a possibility as they're on thin ice now hurting for cash when no one wants to lend it. But technically that hasn't happened yet (or at least not to my knowledge) so there's still hope for anyone holding shares. I think the share price will go higher from these all time lows if they eventually file their past Qs and Ks. How much higher is anyone's guess. Hopefully the shares have at least a penny a piece of life in them somewhere down the road or who knows maybe even a nickel. But the bottom line is, it looks like us shareholders could be holding for quite a long time (me longer than you) if we're all waiting for a positive return on investment. But anything is possible in penny land, maybe even several green days in a row to help with everyone's spirits.
Best of luck to you as well in all your holdings ;)
Yes, it's UPDV.PK
Those who sold just quit posting here. And in my opinion the only retail shareholders left after this meltdown can be counted on 2 hands or at most, 2 hands and 2 feet.
The push to .0015 today didn't mean anything because it was just a tiny trade. And only $10K traded hands. With this kind of volume even flippers can't justify wasting their time with this. Unless they can pocket $5K to $10K on a quick trade they're just not interested.
I finally took off my rose colored glasses. I don't have a problem calling a spade a spade. I actually believed in Kamal and this company and bet big on this stock but Kamal let me down big time. I can't excuse him for letting his stock end up on the pink sheets.
Now it's up to him to win investor's (or my) confidence back, and until he does this stock isn't going anywhere but down. I'm still holding 1.32M UPDV shares only because I paid over $17,600.00 for them and I'll take them to my grave before I let someone else have them for 14 hundred bucks. At this point that's the most I can lose now. When I bought this my stop loss limit was 50% but because I didn't stick to that now I must pay the price.
So I already made up my mind. I'll either sell my shares at a profit or write the rest of it off ... there is no in between. But that said, I'll never purchase anymore of this stock regardless how low it goes ... I have all the shares I want.
GLTA
You're missing Vianna's point and you know it. The MM's want .0002 buys to appear as .0001 sells. The MM's only make money on trades so unless someone sells or someone buys they don't make squat. Fear and greed generates trading volume, and that's what they're trying to do, to create more trading volume. Why else would they sell to me at .00019 when I offered to pay them more (.0002)? I'll tell you why ... so my buys appear as .0001 sells on level 2 rather than .0002 buys to scare other's into selling, that's the ONLY reason why they'd do that.