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.
Maybe rather than buying each "day" as the price drops to average down, it would be more prudent to dollar cost average into UPDVE once a month, like the first Tuesday of every month or something to that effect. Waiting longer between buys in other words.
What bothers me is that intraday today UPDVE tested yet another new low of .001. Since it dropped below older support of .0013 there's no telling how much lower this can go in the next month or so. In my opinion this will set more new lows in the days/weeks to follow if no positive news or no 10Q. At the rate that this has been dropping and the overall negative sentiment in oil and the markets in general, I wouldn't be surprised to see people selling into bids in the .0005 to .0007 range within the next couple weeks.
I'll have a couple thousand more to throw at this in about 3 weeks if I can buy at .001 or lower, but if the price is higher than that I'll just leave the cash in my account and wait or buy something else on the OTCBB with potential. I'm happy with the current number of UPDV shares that I hold, but if I can pick up several million in the .0005 to .001 range I'm game.
Actually the best bet in Vegas is a pass-line bet on the come out roll. The odds are actually in favor of the shooter, and the casino is at a disadvantage on that one particular roll of the dice.
In other games such as black jack, you can get your odds down pretty close to that of the casino, but never in black jack or anything else in Vegas are your odds actually "better" than that of the casino's.
Regarding UPDV, I like our odds here and still wouldn't mind picking up more. But like you, I'll be pretty happy with my current position if this thing can finally buck the down trend of the past month. But I'm afraid that the longer it takes for UPDV to get current with their filings, the lower this thing will go. But UPDV is one of those stocks that can jump several hundred percent in a single day given the right news, so I'm hoping for something like that.
Thanks bricker. I have the guts but no glory (money) to buy more :(
The wife and I going to Vegas for 4 days first weekend of October, saving a wad of cash for that. Wish me luck at the craps table! Nothing worse than hearing the four words "Seven out line away!" I usually have two or three hundred on the table at any given time and it's a blast when a hot shooter can roll numbers for half an hour as you're picking up chips on every roll, but it's all gone in a flash on a 7 (and mathematically more combinations for a 7 on two dice than any other number so the odds are always against the pass line betters after the come-out roll). Never was a sore enough loser to bet the "don'ts" LOL!
Thanks oaks. I too haven't lost faith in this company and in my opinion UPDV still screams "buy" at this price. Just depressed that I'm outta fresh powder for a few weeks and would love to capitalize on the current low price to get my average down even lower ... into maybe the .002s. Regardless, I'm not going anywhere anytime soon.
Best of luck to you and the rest of us who are still hanging around ;)
Stockster5 didn't say positive PR, he said an "exciting" PR. He's referring to a deleted post by an irate stockcynic at about 2:45 AM this morning. Stockcynic (Lumb?) mentioned in that post that FFGO's gloves were off and they were going after the "liars" here and that all divies may get placed on hold until the outcome of possible lawsuits against said "liars". He also said they'd buy back all the remaining outstanding shares at .0001 if they could get that price and cancel them all. He said he was in touch with Santini and that FFGO would release a PR today explaining the details.
He didn't say anything about pre-market. He just said today.
I seriously don't expect to see the 2nd qtr 10Q or past 10KSB's until November 20 ish. I'm guessing they'll just try to get it all in when the 3rd quarter is due. If they get it in before then great, but if not I won't be the least bit shocked.
I wouldn't consider that a big sell order. $8,500? You got to be kidding me. Even daytraders flip $25K or more at a time. In my opinion it's just another small timer letting his emotions get the most of him. But who can blame him, I can't. Maybe he's the only one with common sense LOL!
I haven't given up but I wish I would have bailed out when this was at $0.006 so that I would have funds today to be buying at these levels. Never in my wildest dreams did I see $0.001 coming, if I did I certainly wouldn't have invested $22K in this at an average price of $0.0048.
It appears that I gambled and I lost. It's not the first time and I'm sure it won't be the last, but it would be nice to win for a change. Regardless, it's too late now to bail out. I'll ride this down to zero now if that's where it's going ... what's another 5 or 6K $ loss after this. And who knows, maybe there still is light at the end of the tunnel. I put a sell order in to unload 33% of my UPDV at $0.015. Not a typo. That's 1.5 cents a share. That could be a year or two away (assuming UPDV is still in business) but what the hey.
You got your average down to a decent level I think. I think you'll do well. Just don't expect things overnight and you'll be OK. UPDVE is still in business and when they finally do report numbers, keep in mind that 2nd quarter 2008 should be another record breaking quarter in regards to revenues. And I expect the growth in revenues to be good. Don't lose sight of why you bought this in the first place.
And ignore the BS that UPDVE only holds 16% of HTOG and there's no longer anything in it for UPDVE. Unless HTOG ponies up the $7M owed to UPDVE in cash, they will most certainly do so through equity and UPDVE will once again regain a controlling interest. The bottom line is UPDVE either gets paid $7,000,000.00 from HTOG or UPDVE forces an equity payment out of them. And UPDVE isn't about to write off the debt due them from HTOG in my opinion.
You worry yourself with too much. I don't come to pinkie land to invest (and I doubt that the majority do either) so I couldn't care less about any of that. I come here to trade ... buy low, sell high ... nothing more nothing less. It's how you make money in the pinks. If I want to "invest" in stocks I do so in the S&P 500, NASDAQ and maybe a couple of choice OTCBB.
And I apologize for responding to a question directed at true longs. There are some here, but certainly the majority here are swing traders. That said, I only wish the best of luck to all who post here regardless of their style of how they go about trying to make a buck. I sincerely hate to see anyone lose hard earned money and I would never wish that upon anyone, not even my worst enemies.
You seem pretty sure of yourself. You seem to be speaking out of both sides of your mouth. You claim that history never repeats itself in regards to share price, but history does repeat itself in regards to FFGO's past. At least be consistent.
I say you're wrong. FFGO will go past .0003 again. I guess we'll find out eventually.
It's been brutal watching this every day. Out of the last 21 trading sessions UPDVE has only closed green 4 times. Would love to see it reverse in similar fashion ... next 21 trading sessions close green 17 times and red just 4 times. But stocks rarely go up as fast as they crash down.
It's like the price of gasoline. It jumps a dime at a time on the way up, but only comes down a penny at a time on the way down. Everything in this world is manipulated for someone's benefit. We just have to learn to accept that.
Still long and strong UPDVE.
Sorry about that. I'll add you to my list here ;)
Last week I asked him and got a reply back within a few hours. But I asked for the OS and he gave me an estimate on the float instead. At that time he guesstimated the float to be 800M. But float doesn't include restricted shares held by insiders so it doesn't really tell me much.
I'm just assuming the current OS to be somewhere between 1B and 2B. The current AS as of right now is still 2B because I just checked the Nev Sec of state website for any new amendments to UPDVE's total authorized capital and it's still unchanged from August 11th.
I think you're right LOL! Lets see, there's you, ig, me, who else is in this through this MM shake down and buying now for a few months out?
You got the bases covered don't you? By you, FFGO is damned if they do and damned if they don't. You can't lose!
In the meantime I've been "had" ... 20.4M shares at an average cost per share of .00024. I'm confident I'll make a few bucks on this. But if I don't, you'll be here to tell me "I told you so" right?
A few flippers? I would say that the majority of the retail shareholders in FFGO intend to do just that, flip shares for quick profits. A few intend to hold, but most of those holding for the divies are holding free shares that they left in their accounts after pulling out their original investments and then some after the last run from .0001 to .0008 ... in my opinion.
Best of luck to us!
I think you may be confused. The float is 800M, but the float is just a part of the total outstanding. Restricted shares held by insiders plus the float equals total outstanding. So outstanding could very well be somewhere between 1B to 2B because the current number of restricted shares held by insiders is a mystery. But at this point in time the total OS can't be any more than 2B because that's the total number authorized per Nev SEC of State.
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/corpActions.aspx?lx8nvq=lisF54chDj9xJB%252fV2JB5RQ%253d%253d&CorpName=UNIVERSAL+PROPERTY+DEVELOPMENT+AND+ACQUISITION+CORPORATION
LMAO! That's funny stuff!
Five days ago I asked Jack Baker for his best guesstimate and he said probably 800M in the float.
I disagree. No updates from management simply means that there is nothing to update at this time. I don't need fluff PRs to soothe my fears or make me feel good about my investments. But I realize a lot of folks do.
Look, they're waiting for the SEC to sign off on their adjustments. That can take some time. My guess is they're going back and forth with the SEC but slowly getting closer to having all the bugs worked out to the SEC's satisfaction.
I know, I know! UPDVE doesn't have any more time! So they get relegated to the pink sheets and live there for the next year? It's not the end of the world for someone willing to hold this. Just don't expect to trade it there as the MM's will gouge you with their spreads to buy or sell. It would kill the stock during the time that they're there and make it even less liquid than it is now, but at least it would give UPDVE time to get all their ducks in a row. Pinkies do emerge from the ashes from time to time.
Bottom line, no one will get my shares for less than I paid for them and I will hold out for as long as that takes. And if it doesn't happen in my lifetime I'll leave the bag with the grandkids and let them worry about it!
So am I. But at least now when the stock drops 15% in a day I only lose $950.00. Several days ago when this was at $0.005 a 15% drop cost me $3400.00. Hey, just trying to make lemonade out of a lemon LOL!
Lighten up folks! The best time to buy is when there's blood in the street. String together 5 or more consecutive up days and anyone long will feel better. Funny though how it's so easy to have 5 to 10 consecutive down days in penny stocks but nearly impossible to string together even 2 consecutive up days.
I still haven't given up hope. I've come to terms to realize that this can take 3 to 5 years to get to a market cap of $40M. But my average cost per share is around $0.004 so I can hold out that long for a 10 bagger. No way in the world would I give away my shares at the prices over the last couple of weeks.
Best of luck to any other true longs out there ... if there are any left. I feel like the Lone Ranger, but I'm cool with that. I always did consider myself a contrarian.
I would say so too. The last time I checked just the float was around 800M shares.
Who cares if outstanding is over a billion. In fact 2B shares outstanding would still be a cheap market cap when shares are trading at .0012. At 2B shares outstanding, market cap is only $2.4M. $2.4M for a company that will do $60M in revenues this year is a bargain. But then I was saying that this was a bargain 80% ago so what do I know LOL!
You are correct. One year minimum and that assumes they get current on their SEC filings.
I communicate with Jack Baker via email and he's usually pretty quick with replies to my questions. Here's his email address: jbaker@updac.com
Then let Santini know that he's welcome.
What's your point investorman? That's like comparing an apple to an orange. They're both fruit but it ends there.
So what if FFGO's OS is 5 times larger than that of the world's largest company? Exxon's market cap is 63,500 times larger FFGO's market cap and market cap is the value that investors place on a public company. It has nothing to do with either the number of outstanding shares or the price of each share. Rather, it's a combination of the two.
Maybe the transfer agent will update the AS along with the OS. The great Santini said he was going to lower that as well.
It's not so much experience or inexperience in my opinion. It boils down to whether or not a person here is lucky or unlucky. Few if anyone actually “invest” in pink sheet or OTC companies. Most are aware that they are gambling. But nothing wrong with gambling if they choose to do so. Sometimes people do hit jackpots. Certainly the odds are against you, but that’s where lady luck comes in handy.
But theoretically cutting the OS in half doubles the intrinsic value of each share. Stockholders slice of the pie just got bigger. Whether or not it's actually reflected in the share price is academic, but I would hope it helps.
True, everyone was aware of their intentions but the majority here thought the PR was just a lie.
I don't think it'll run 10 fold to $0.002 just on verification that the shares have been cancelled but I would think the SP would pop to some lessor degree.
Hi TAKI, this was also verified yesterday but you might have missed it.
http://fedex.com/Tracking?ascend_header=1&clienttype=dotcom&cntry_code=us&language=english&tracknumbers=864692967380
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32011440
It appears that the transfer agent received the original documents on Monday the 8th (yesterday) instead of Friday the 5th. But what's a couple day delay? They're in possession of the transfer agent now and that's all that matters.
If I recall correctly, the priority package weighed 1.2 lbs. Pretty light for billions of shares LOL.
So what's your point? $10K changed hands in it today. Should shareholders leap from tall buildings now?
http://www.downside.com/bldgjump.gif
Exactly. $10K traded hands in HGLC today. Huge percentage increases or decreases in a company's share price is meaningless unless there is real money attached to the huge moves. Now for example, if HGLC dropped 45% on $500,000 - $1M trading dollar volume I'd be somewhat concerned.
I saw someone bragging on another stock message board a while back that his stock symbol went up 2000% that day and he was trying to convince others to buy because it was the next microsoft. When I logged onto the symbol the trading volume for the day was only $200 LMAO. Needless to say the next day it moved back down to where it started on another chump change trade.
I ignore all low dollar volume percentage gainers and losers on the screeners. They don't mean anything.
Agreed. Not to mention the SEC doesn't move that fast.
I agree. So when I see someone post "huge dumping" I read that as huge accumulation by someone or some entity: i.e., retail shareholders, company insiders, or MM's adding to inventories.
One person's garbage is another person's treasure. That's why eBay and yard sales (or tag sales as they call them in CT) are so popular.
I agree with your post. For what it's worth, I'm still holding my shares. Not going to give them away like the rest seem to be doing. Stocks go up and down. In a while this will recover. The fact that oil stocks are less in favor now because of oils temporary decline doesn't help any O&G companies stock. Winter's coming and the first cold snap all the talk will be the high costs of heating oil, blah, blah, blah. For now, I'll just strap on the oxygen tank and go deep underwater with this and hope my oxygen holds out till this recovers.
Step back for a minute and look at the big picture before you get too irrational and sell into the panic created by the MM's. This talk of current dilution is nonsense. In my opinion UPDVE was diluting when their stock ran up to $0.008 and hovered around $0.005. The selling now is just the rest of the frightened retail shareholders jumping ship.
Look at the trading the past few weeks. Take today for an example, 79 trades at an average dollar value of $700! This isn't the company doing this folks, it's the retail peons. And of course the volume is increasing as the price keeps falling, but dollar volume is the key indicator and it's been stable and even getting less. The price being 1/4 of what it was just a couple weeks ago can be trading at 4 times the volume but the dollar volume remains unchanged.
All this talk of dilution who cares, I don't. I just checked at the Nev Sec of State and UPDVE's authorized share count is still at 2B. Worst case scenario and fully diluted, at .0014 market cap is only $2.8M ... for a company that will report record revenues this quarter, and a company that'll do at least $60M in revenues this year! Get real people! There are stinky pinky companies with zero in revenues trading at 20 times UPDVE's worst case scenario diluted mark cap of $2.8M!
I'm hanging on to each and every share that I have been able to accumulate. Better days in my opinion are on the horizon.
All the above though are my humble opinions. UPDVE could still end up going broke which makes their stock high risk. But keep in mind, with high risks also comes the potential for high rewards.
I may be the only shareholder who hasn't bailed yet. Maybe I'm the only fool now that I think about it LOL.