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1. A deal is still being worked out - but not closed yet. 2. The filing went in today after hours and will be on the SEC site tomorrow. 3. The deal is still being worked out (something even as simple as signing papers overseas and working with their lawyers & yours) - November 30 was a projected close date. 4. The deal fell through and Lev will be looking for someone else.
A lot more than just these, too.
The encouraging part is that in the middle of November a deal must have been very, very close for an expected close by the end of November.
Nothing by Friday, everyone on the board can bombard Mark Lev with emails. That ought to get at least SOME kind of response. Have to do it on Friday by noon, though, because sabbath begins basically at 6:00 PM on Friday - no work for 24 hours.
OK, 2 questions from a condemned man who is charged responsible for 'tanking' PHAR because I actually bought on the bid.
1. If it is true that "this is tanked because of bid buys" - you're saying the buyer is guilty for buying and holding (not selling them again)...and not the seller who had the shares in the first place and dumped them at an intentionally low price?
2. Since I have posted that I bought at the bid at .009 and occasionally lower in SEP - and it has 'tanked' all the way from .009 & .0085 way, way, way down to...where we are today at .0067 (14.4% down) in 3 months. Please explain how 'bid sitters' were responsible for it going from .044 in May to .0085 in August (80.7% down) in 4 months?
Good points, CHEYENNE. You posts frequently have a depth of substance to them and it often seems like I am one of the very few who respond to you - so I will just stay in the background and let others weigh in on this.
I feel like I am operating in a mental fog right now, anyway! LOL
I think we both desire the same thing: a great future for Aquaprin and for PharmStar to be successful.
It's just you and I must be on two separate wave lengths - and that's fine - but our trading concepts probably originated on two different planets.
FACT: I do not know if PHAR is actually diluting or not. 1. The T/A is gagged - just phoned them again this morning. Bad sign. 2. The stock is trading exactly like there is dilution. Bad sign. 3. The Delaware SOS has NOT yet made the share reduction official after announcing it nearly 2 months ago. Bad sign.
OPINION: I really doubt that they are, since Howard Phykitt already willingly returned around 1/2 of his own shares and set a price where he could buy his own shares back at considerably higher prices.
However, I could never with a straight face tell someone that 1 BILLION SHARE DILUTION (on this other company, BTW not PHAR) was 'necessary to get the product to market.' Within a month they doubled that share count to 5 BILLION.
To me if you are going to compare tactics - it is vital to see the cause of those tactics. IT IS MY OPINION that MM's, unless they have a special client with deep pockets, could care less what stock they are trading. No MM has nearly 45 million shares (my unnofficial count) of PHAR which they purchased themselves just so they can sell below .01 - and never any higher. The MM's are reacting to the catalyst of the one who holds those shares and CHOOSES not to sell above .01 - this shows purpose and intent.
We are both on the same side - just we are talking at cross-puposes right now. I think we disagree ideologically about trading strategies, etc. I don't think I am making any headway with you and I KNOW you're not making any with me - so I'll just leave it be.
But that's what doesn't make sense to me, if the actual fee for an SEC filing is a few hundred dollars - ANY company can do that to stay on a current tier and not be de-listed.
I read into that 8-K that they didn't have the money for the accounting firm to do the research, file the report to recompense them for their services.
Of course, just another 'side note' - the FBI may have their books and they can't get to them to actually do the filing. Perhaps the FBI would not allow the SEC to halt them because they were at least a contributing cause for them not being able to file...
Well, while we're waiting, does anyone know what the filing fees are for the SEC?
I have done research in the past when a company said PR's were too expensive and found the fees (depending on company and audience) to be from $250 to $850. Generally, every time an OTC stock does a PR it costs around $300-$400.
I have never considered what the fee is to file with the SEC. Anyone know?
Come on, man - follow a chart and watch the MM's but don't look at the reason behind the action?
I must be completely thick-headed and do not understand your point, because this sounds just plain ridiculous.
Cause and effect is what I am looking for here. You said this company did the same thing with the MM's - but the MM's only showed up to 'scare people' because they had A BILLION SHARES TO THROW AT THEM.
So, if these MM's are doing the same thing here, then it would stand to reason THEY HAVE A BUNCH OF SHARES TO KEEP THROWING AT US.
Is that the point you are trying to make here? Because if it is, it is not a very good one for PHAR.
MM's shake the tree now and then - but they don't show up and throw millions of shares at people unless it came from the company.
The float and authorized shares on that stock increased by 1 BILLION SHARES in 2 months - from 451M to 1.4B!!
Sorry, that's not an MM walking it down, that is a company diluting BIG TIME. That has absolutely nothing to do with 'scare tactics' so I don't know what your point is.
So, you are saying the MM's look like they are doing the same thing here?
The company structure is very solid. The business plan is attractive. The past operation has been credible (obviously until recent developments).
And...once the framework is in place, the potential for revenue is tremendous - obviously there is little to none right now while they are still setting up the wiring.
But deals have been accomplished and permission has been obtained. All they needed was funding to get over the hump.
So, now CHWM is back to Square One and attempting to raise funding. If they can through this bad stretch, I think they're going to make it.
I thought that was the case with Pierre Besechut. I couldn't remember, but I thought one time before he was the money guy behind much of the operation.
I only started charting the sells around July, and normally don't just watch L2 all day - but the sells I saw were sold on the bid most of the time. I know my buys in SEP & OCT were when I was on the bid.
Well, absolutely they were personal charges. I am not claiming that CHWME MUST do an 8-K, I'm only claiming that they MUST make some kind of public statement, or I absolutely will dissolve my holdings.
I can't believe they have been silent for so long, actually.
No, it can't because now we know that the company's legal counsel (also a board member) along with their IR guy was involved, too.
No notice has been given about Richard Kranitz officially. Is he even staying or going?
I doubt Prange's departure (is he actually resigning or being dismissed?) 'officially' warrants an 8-K because he was IR.
In addition, the 8-K did not mention any charges at all, and it seems like there should be something regarding a public institution planning to give $2.5M of their shares back in a kickback scheme.
IDK, but I am only guessing that since I mentioned it had been 4 days from the charges, he may be inferring 4 business days from this event.
It would make sense, because a material event (something in an 8-K)needs to be filed with the SEC within 4 business days. And this certainly was a material event!
1. The people are giving the correct figures. 2. Those who say they are holding are not selling. 3. The float is not increasing.
Sure hoping this is not the same, and I have only been on IHub for less than a year - but I have seen many traders use the FLD just to get information to help them know how to trade their own shares better. IDK, I just get goosepimples with FLD talk, I've only seen it precipitate many becoming bagholders.
Just interested in what our reaction may be on this board if soon we here claim to hold more than 92M shares...
People may think I am bashing and I am not. Just trying to be a realist here. It is ALWAYS a possibility on any stock; and for us to become so emotionally entangled with Howard & PHAR - thinking all is fine - even with a 3.5M sell day after such small volume?!
We are considering a statement - and are working toward something I am advised should be within 4 "business" of the first.
On Mon, Dec 5, 2011 at 11:42 AM, Bucks4Buckeyes <bucks4buckeyes@thewaveinvestors.com> wrote:
Mr. Hager,
I am sure you are faced with a great difficulty at this time dealing with greater responsibilities assumed recently. Although I have never been in a similar situation, I feel for you and wish you and the company the best.
The Wave Team seeks penny stocks with good potential for future profits which we can pass on to our followers. China-Wi Max is one of the stocks which we have been encouraging people to examine for nearly 6 months now. Many of our 450 followers have considered your company (I personally hold many shares myself) and have invested since we first recommended CHWM. I would like to remind the company of its responsibility to the existing shareholders and encourage you to make a statement on behalf of the company and its involvement (or lack of involvement) in the publicized incident.
Since it has already been four days since charges were filed, in the absence of any such statement, we will be encouraging our investors to dissolve their holdings due to an obvious lack of concern for shareholders. China Wi-Max is a public entity and certainly needs to issue a statement very soon.
I have been a mod on the CHWM(E) board for 5 months. 3 guys affiliated with CHWM(E) are involved in this scandal: IR, CEO & Legal Counsel. This company seemed to have a good reputation and has been SEC-reporting. We posted all info as a sticky (with links) to make sure any new posters are aware of what had allegedly happened.
I agree, SIDEDRAFT, that post is very sad. Looks like it is from someone willingly blinded by their affection for the guy - coworker, friend or even a family member.
The law is the law and any illegal kickbacks are wrong. People can believe it or not, had I known that the whole rotten deal had gone through without them being caught, I would have sold on principle, anyway. No one wants to consider the supposed 'hedge fund' which would have been ripped off for $2.5M! If everything in the charges were correct, this poster obviously had forgotten the main point of the sting: there could have been a REAL hedge fund with REAL people who would have had $2.5M STOLEN from them!
That's the point. And this sting has helped keep legitimate investors safer.
Interesting developments over the weekend for CHWME. The company definitely needs to put out a statement concerning the scandal of 3 of its officers/executives.
The Wave Team has certainly added the "WATCH" label on that company.
Israeli solar company helps Bedouin profit from the sun 4 Dec 2011 By Rivka Borochov
An Israeli solar company, Arava Power, is working to help the Bedouin Arabs, a mostly nomadic tribal people living in Israel, develop their share of the solar industry. Last year, Arava signed a contract with the Tarabin tribe in the Negev desert to build a solar installation. The contract was the company's first step toward generating solar electricity on Bedouin lands in Israel's southern desert region, where the majority of Bedouin live.
In September, the Ministry of Interior's Southern Regional Planning and Building Committee approved a plan for a photovoltaic solar installation adjacent to Tarabin, to be based in the Abu Basma Regional Council. It was a historic move for the Bedouin, who can expect jobs and attractive lease incomes from the deal. The community leader, Haj Mousa Tarabin, said, "I am glad there are people who are concerned and are helping the Bedouin improve their lifestyle - on the economic level as well as with creating various sources of income."
The Israeli government has offered attractive incentives for solar field development. In 2008 it was announced that the Israeli Public Utility Authority would approve a feed-in tariff for solar energy plants. Feed-in tariffs are policies set by governments, so that over a particular period, a guaranteed return on investment can be given to anyone who returns power back to the grid, via solar power installations or other renewable energies like wind. Israel's feed-in tariffs were set for mid-sized solar installations until 300 megawatts are returned to the grid,meaning there is somewhat of a "race" now on for companies to install mid-sized solar panel farms around the country.
Yossi Abramowitz, president of Arava Power, is fighting to get 30% of Israel's guaranteed solar power feed-in tariff caps set apart just for the Bedouin people,as an important minority that can't easily access the incentives.
If the paperwork goes through in time, Arava engineers could install an eight-megawatt facility near the Tarabin tribe. This would be enough to power 3,500 air-conditioned homes or an even greater number of non-air-conditioned homes, like those of many Bedouin families. The ultimate plan is to launch 30 megawatts in five locations, boosting the economies of the Bedouin communities as no initiative has before. The team at Arava is putting heart and soul into getting the Israeli Bedouin to benefit from the Israeli solar "gold rush."
With an immediate $30 million in backing, 80 percent of which comes from the United States government, Arava says it has a total of $3 billion in financing from major companies like Siemens, and is ready to develop the Bedouin solar industry. "This is one of the more meaningful, important and fun things that we get to do," says Abramowitz. "There's definitely a historical element," he adds, believing that Israel is and should be a "renewable light unto the nations" to paraphrase the ethical biblical imperative for Jews to conduct themselves as an example to others.
Abramowitz meets with the Bedouin every Wednesday. Working over handshakes, cheek kisses and small cups of sweet tea before the lawyers come in, Abramowitz has managed to develop business opportunities for Israeli Bedouin that hold the promise of jobs and attractive leasing fees that beat any kind of agricultural developments they could build on water-poor land.
"About 60% of the land of Israel is desert, and about 30% of the people who live in the desert are Bedouin," says Abramowitz. Helping them access the global green economy is a moral imperative, he says.
The need to enlist an army of Israel's citizens in the energy challenge dovetails nicely with Jewish values. "The earth is heating up and the [earth's people] have to do their part to switch to renewable energy," Abramowitz says. Israel, he says, can "set a new standard for ramping up solar energy, and eventually be the first economy to transfer from hydrocarbon-based to solar-based - this is doable and worthwhile."
OK, the good/bad part is the $3B they claim to have in financing from major companies. This could mean different things:
1. It is an estimate of what is promised to them. The $30M is immediate backing from OPIC. Key word: immediate. The other funding is projected. 2. It is very possible that they may not need GSP to go public to raise the money to complete these projects. 3. It is very possible that they are including a projected income from GSP for funding, too. Because the article states that Arava Power has the funding FROM major companies - and then throws the Siemens name out there. It is an outside chance that they are claiming GSP as one of those 'major' companies which will get funding through this R/M. 4. It is possible that Siemens (who is already a 40% owner of Arava Power) has agreed in principle to fund them a lot more - if they will give them a bigger piece of the company, so that is a large portion of that '$3B funding' - which GSP never intends to use, but is their 'ace in the hole.'
We'll just have to wait & see.
SNIZZLE, you helped me here tonight - I never considered GSP to be an internet marketing company! But you could be EXACTLY right - now they have 3 or 4 websites in various countries.
That's all. They just happen to be marketing solar power right now.
I am extremely excited and hopeful now - I thought GSP was completely out of the picture after reading the 10-K, and now I can see a possibility!
I have 5 different accounts, but the one I use with penny stocks the most is Scottrade. I swing trade big board stocks (3-5 days usually, but sometimes a couple weeks) but I usually don't trade that way in the pennies.
I do have penny stocks where I have held for over 3 months without selling and rebuying and in some of those stocks I am NOT listed as a "shareholder of record" - it only lists 'Scottrade.' It used to confuse me when I would call a TA to get information.
I have never been able to get a real good answer why, but since the whole Penson issue, I have come to assume that it may have something to do with the way a broker clears their stocks. If they are a large firm which 'self-clears' (*perhaps not a real word) they may not list actual shareholders of OTCBB stocks because of the extra (and often unnecessary) cost to do so.
Anyway, I have appeased myself with a logical (although perhaps incorrect) explanation of why I am often not considered a "shareholder of record" in many penny stocks, when I am one on a big board stock - even if I only hold for 3 days.
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