Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Only going by what I have seen before:
Once a stock is Pink Limited, they can file or not file - but they file to the OTC Markets, not the SEC anymore - and if they are current then they will be listed Pink Current.
It would appear that CHWME wants to remain on the OTCQB, therefore they must file to the SEC within the deadline.
I do not believe trading will be halted on CHWME simply on the basis of failing to file to the SEC. I am aware of many companies which have gone to Pink Limited status and continued to trade while remaining in that status.
I DO NOT, in light of past developments, know whether trading may be suspended like the other companies were this week. My GUESS would be that since CHWME was not halted originally, they may not be suspended or halted at all.
I could give names of many companies which left the QB because of failing to file which never were halted or suspended for that reason.
All The Best
Hey, I have looked through SEC website, investopedia, Scottrade database, I can't find anywhere the date or time requirement for filing material events.
8-K's must be filed for any material event, however, we HAVE read many 8-K's in the past where on a certain date an certain individual left the company, and now a week later we are notifying you that it already happened effective on that date a week ago.
If you'll notice every filing in the Edgar database has a file date and an effective date.
However, I would not imagine a R/M (or a sneaky way of R/M is to 'buy' the complete assets of a company and eventually allow that company to 'buy' the original company out and change name, ticker, etc.) must be filed within a particular time frame.
Just can't find that exact info, though.
I'll look as I can.
I know Fridays are bad days for PR's because people are already getting out of a stock, Tuesdays and Wednesdays are great, though. This would be considerably more than a PR, though.
BTW, I am only Clark Kent - without the superhero underneath. The costume won't even fit, let alone the super powers! I've made plenty of mistakes; but I doubt SNRY will be one of them.
All The Best
I think it's going to be VERY ugly. I complained about it when it was announced. Most boards on which I was the mod I spend about 6-8 hours just on the IBox and adding as many links to any DD that I can find.
Now, anyone who chooses to be a mod can edit it at their pleasure and I can lose all my work. The only reply I received from Admins was, "Use the save button to return to former status."
I suggested they should just remove all stickies and make any news from PR wires a sticky for 7 days.
Oh, well.
It's a good time to load up here, though.
Trying to find out what I can about the Phase III trials.
All The Best
You're always welcome. Sign up for the emails, too.
When we make a pick here, absolutely no one frontloads. Not ever. We all get in at the same time. Usually we look for mid/long holds in companies which have a lot of potential.
All The Best
I picked Clouseau because he always seems to make the stupid decisions and they turn out right - like a lot of penny stocks, so many of them run for all the wrong reasons! LOL
Although I definitely am no expert, I think it is a bunch of baloney.
CXTO claims that they didn't know that their auditing firm disbanded operations until November 28 - even though they went out of business in February!
They state they have found a new company (I would check out their clients, if I were you) but also that they claim no one who is familiar with their records is in existence.
I wouldn't be surprised if it was a smokescreen so they have a good excuse why their financials are not filed.
All The Best
Thanks, MIKE, for the update.
Sorry, I don't understand how a chill can be to investor's strength. That sounds crazy to me.
I called every number I had today for him & company today and left messages on all of them. Hopefully we will hear something Monday.
All The Best
OCEAN WAVE SPLASH
GREAT WEEK FOR OCEAN WAVES!
DNN up 52.1% since 10/3
TA up 15% since 10/17 (Hi this week of 4.64 = +20.2%)
MEEC up 219% since 11/2 (Hi this week of 4.87 = +363%)
AVL up 17.8% since 11/25
URG up 16.3% since 11/25 (Hi this week of 1.09 = +26.7%)
DEXO up 56.7% since 11/29 (Hi twice this week of 1.91 = +83.7%)
Visit our website for more detailed information and for new picks found there first.
Don't merely dabble in the pennies when you can enjoy strong big board stocks (under $4) which provide great movement, as well, without the fear of dilution, scams, going dark or company manipulation. PLUS, THE FEES ARE CHEAPER THAN TRADING PENNIES!
All The Best
You guys here are priceless. LOL
9 AM to 4:30 PM - Learn a lot
All other times - Laugh a lot
But not everyone follows the timetable.
All The Best
In & Out of DEXO this week:
11/29 BUY 2500s @ 1.04 9:34 AM $2600.00
11/30 SELL 2500s @ 1.88 9:51 AM $4700.00
11/30 BUY 3455s @ 1.36 2:32 PM $4698.80
12/2 SELL 3455s @ 1.88 9:52 AM $6495.40
12/2 BUY 4097s @ 1.585 2:33 PM $6493.75
Many forecasters are calling for DEXO to go up to $12 within the next 16 mos.
While it's low, it is providing some great swing opportunities. I only wish I would have heard of it when it was trading under .40 a few weeks ago!
Have a great weekend and happy to hear JBII is going well for many of you.
All The Best
Yes, you are absolutely right that it is speculation. But it certainly isn't off topic and ignoring it wont' make it go away, either.
And, yes, overemphasizing does no good as well.
Happy Trading, I still have all my shares. It is amazing to see CHWME so green today after all they have been through.
All The Best
Sure...go ahead and rub it in - now that I said I didn't get in! LOL
Great move!
I'm hoping Santa can bring a higher pps for us all here on PHAR.
BTW, here's hoping the Bulldogs can mess up the whole BCS system on Saturday!
Glad to have you back here posting about PHAR.
All The Best
I certainly did, and thank you for the information. Just want to keep good manners on the board.
All The Best
Like I said, all speculation, none of us really know and the facts will have to come out in court.
MY GUESS is that he was the contact to CHWM. He is part of Northern Equity, INC out of WISC. He may even own it and run it, I have not checked.
He could have been the middle man to 'wash' the sale or actually do the money laundering (or stock laundering) on his end.
The company issues the shares, he converts the transaction and does the actual disbersement.
Thanks, MZASIF, for the comments on PHAR. We appreciate hearing it.
But will delete your post for the info on other stocks. Feel free to post on The Wave Board (and many others) and I can communicate with you there freely.
Not trying to offend, just being fair for the PHAR board.
All The Best
Hey, friend, I have been missing more than what I've been catching lately, so no problems here!
All The Best
It wouldn't be entrapment because of Prange.
Possible scenario: FBI hears of crooked guys and goes after them. The guy goes to Prange (IR) or one who knows Prange with the scheme.
Prange goes to CEO (Berman) with idea. CEO & Legal Counsel (Kranitz), with or without Prange, figure out how it can be done.
THEN, they meet the undercover agent. The agent offers or agrees, but these guys have already figured it out and agreed to the crime.
I would think the agent wore a wire. The agent probably never actually solicited from them, but worked through Prange.
CEO, Legal Counsel & IR: Dead Meat
Let me edit this speculation with the fact that Berman asserted to his home town newspaper he was not guilty. I would hate to assume just because these guys were indicted, they are automatically guilty. That's not really fair.
September 30 was the end of the fiscal year, so the annual report is due in 90 days, where the quarterly reports are due in 45 days.
So, if my math is right (which often it has not been lately) I think that would be due December 29, which is a Friday. If it is submitted late, I think it would be published Jan 3, because markets should be closed Dec. 26 & Jan 2 as legal holidays since the actual holiday is on Sunday.
Just my best educated guess.
All The Best
Well, not to be the bearer of bad news, but I just was on the company website - I missed the fact that one of the biggest individuals in this whole sting was the director of IR for the company: James Prange.
If I remember the articles correctly, he and Kelly Black-White were the ones who introduced the undercover agent to the various companies.
Another black eye for CHWME.
Good point, I read that also while I was going through the 10-Q's and the 10-K again this morning.
The only point is that since we don't know the terms of the contract with them, many funding companies place some 'escape clauses' when dealing with start-ups, R&D or companies like these in their development-stage so they can bail anytime they see fit.
Depending on what actually transpired, what the company itself is liable for, what the terms of the note is...I think it still may be difficult.
For the record, I still have all my shares...I just am unsure right now how long I may keep them. I try to react to DD & verifiable research - not emotions, as much as I can.
I'm hoping for a good statement from the company very soon - that will be an indicator for me to guage their level of responsibility to their shareholders. If they don't give me consideration - they can have their shares back.
Just think the other officers and the company itself deserves a chance to distance themselves from these allegations - it is possible that they didn't know anything about it. However, silence can often mean that lawyers are telling them not to make statements in order to cover for themselves. So, "the jury is still out" in my mind on this one.
All The Best
Wow, great call, JMURFK! I missed that one totally, I'm in too many movers right now.
All The Best
That's what I meant, when the funding is done - THAT is PR-worthy, to me.
Sorry, I didn't make that clear.
PR's are for PRogress, not PRomises!
That's the difference between legit companies and P&D companies. One says we HAVE DONE this, the other says, we WILL BE doing...
All The Best
I'm not as familiar with KBLB's 'modus operandi' with CC's - but most companies announce them only a week or few days in advance.
To announce it 4-6 weeks in advance is strange - unless they plan on PR's before then and will be able to elaborate in the PR. So, I would think we will receive news, too.
Perhaps the CC is scheduled for the next Q because we will hear of some kind of contract or LOI during this quarter ending at the end of the month. Pure speculation, I know, but a hopeful assumption.
All The Best
Thanks for letting us know, EDGAR2010, hope to see you around in some other companies.
All The Best
That's AWESOME news! I hope they put out a PR when they have completed the entire Phase 1 funding.
That's nearly $3M dollars!
Thanks for sharing, NADENDLA!
An update would be awesome, but I would hate to 'waste' it on a Friday. It's holiday time, people are busy and take off earlier on Fridays. You want a PR or update to kick the pps in the butt and make it move.
Tuesday & Wednesday are the best days for PR's, IMO.
Yes, an update would be great.
A brief summary of recent events for CHWME after this story broke yesterday, Dec. 1:
http://www.sec.gov/news/press/2011/2011-251.htm
1. CHWM was looking for a private placement to keep production going in China projects. (Fairly common ‘boilerplate language’ for penny stocks)
http://www.sec.gov/Archives/edgar/data/1434667/000114420411049103/v232095_10q.htm
The Company's continuance as a going concern is dependent on its future profitability and on the on-going support of its shareholders and creditors. In order to mitigate the going concern issues, the Company is continuing its efforts to raise capital. The Company raised approximately $133,500 during the six-months ended June 30, 2011, in exchange for notes payable (Note 5).
During the six-months ended June 30, 2011, the Company entered into various agreements with third-party consulting firms to assist the Company in obtaining debt or equity financing. Subsequent to June 30, 2011, the Company obtained financing of $16,000, net of applicable fees. There can be no assurance that the Company will be successful in any future fundraising efforts.
The Company is also pursuing other financing options; however, these options may not be available in amounts or on terms acceptable to the Company, or at all. As a consequence, if the Company is unable to obtain any additional financing in the near term, the Company will be required to delay its business plan implementation, and/or the Company may be required to cease operations in order to offset the lack of available funding, which would have a material adverse impact on the Company.
The corporation is currently seeking funding for operations to complete its third quarter Form 10-Q and strategic development of projects in China.
I think so. My wife said something came in from a bank, she thought maybe I had another account somewhere...LOL
We are getting ready for our middle son's wedding in 2 weeks, so I have been putting all 'non-essential mail' in a big pile to look at during football games this Saturday! LOL
All The Best
Good for you, WEALTHYKING, and All The Best
That would be awesome, and not out of the realm of possibility. If they can just make a little bigger dent into the market share, another bank may be interested.
Good idea, let me put together something with some links, post it and then sticky it.
Tidal Wave CHWME jumped up 114% this morning.
True, but I am a trader, not an investor, and except for potential R/M companies, as a rule I don't stay more than 20% down on any stock.
I must keep an eye on day-to-day pps because of the system I employ - but I am not a day-trader who worries about hour-to-hour trades.
So, I have averaged down over the course of time, and now have to decide if I wish to average down again this week or next week.
The point of my reply to 5STRING was that while it IS encouraging to see the float numbers, I did notice the phrase "claiming their core holdings to be long until at least product launch" which I think is very important and very aptly worded.
I did not want to be included in that number because I don't want to give my word to people here that I will do something which I may not do. I have every intention to be here for 2-3 years, but I also react to updating data and DD and then act accordingly for what is best for me. So, I may be gone by Christmas (although that is NOT my plan).
I applaud COMMON CENTS, NADENDLA, JOHNPLAYER and the others here for the initiative to see what % of the float is being accumulated, so we have an idea of how much more shares may yet be sold. However, I want to remind everyone that the float number is a static number, we will be notified when shares are added - but very few people will notify the Board when shares are sold.
Therefore, just be careful about trusting the complete number to always be accurate, it can give us a good idea of what has been purchased, so I am encouraged by that. But I will not use that number as a factual basis for my own buy/sell decisions.
All The Best and let's close green today.
OK, from various new reports, here is my summary of events:
1. CHWM was looking for a private placement to keep production going in China projects.
2. Steve Berman, CEO of CHWM, listens to an FBI undercover agent and agrees for a private placement of $5M, and will kickback some money to the agent himself (up to 1/2 of the placement, I think!).
3. Richard Kranitz, board member and attorney for CHWM, delivers fraudulent papers agreeing to the whole deal.
4. 8-K, Berman resigns for 'personal reasons.'
5. Eric Hager, VP, is now acting CEO
6. Announcement of arrest from FBI and halting of various securities.
My concerns:
1. It appears that CHWM never actually received these funds, so they were not halted.
2. I would assume they made business plans BASED ON receiving these funds, so their business plan could be seriously in jeapordy.
3. I am sure the company will not be able to make many comments on the total event due to 'ongoing investigations' other than some kind of statement.
4. Hopefully the agreements they have signed in China will not be affected by the purported illegal acts of the CEO.
5. Further investigation must be going on by the company examing all documents now.
6. The 10-Q (an audited form for SEC) may be even later than we expect due to this investigation.
What will happen?
Who knows, but if CHWM is not affected in the contracts, I am tempted to buy on the dip here in the next few days, since I am riding all free shares, anyway. We'll see, though.
All The Best