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The exchange already told the company they need to bring up the equity balance on their financials or face delisting.
I would rather sleep then risk waking up to 40% off financing.
Not saying you can't trade it. Holding over night is not trading, not when the company explicitly needs financing.
Company is going to do an offering either on their own or because of the exchange.
Seems like the exchange is pushing for now.
Probably someone with lot more than you or me is stuck and wants a decent out price.
They got a warning about equity delinquency from the exchange, so an offering is coming at some point.
Would like to know how much the company generated from its ongoing ATM offering they have in place.
Would explain shares were kept in line today.
The raise made public coud have been enough to repay covertible debt.
Would announcing another couple million shares sold via the ATM program be bullish or not?
Totally unexpected.
Company is ready to do an offering.
Will they do it after hours or will they screw even the daytraders and do a midday offering?
Do you feel lucky punks?
LOL. Ridiculous.
No one should be shocked.
Company recently did a reverse split and has talked about needing to raise money.
Just back away and save yourself the stress of holding over the weekend.
Unless you want to face the possibility of waking up with a 50% haircut ...
That is not true.
However, there was some overhang that seems to have been at least partially resolved the last couple of days.
It's hard to get in when this is the time of year that crews disband for the summer.
But .... The $ Volume here is pretty good.
Pretty, Pretty, Pretty good.
Can y'all Curb My Enthusiasm to make me want to buy some?
Fifth digit trading going on.
Not sure if that is bad, good, great or moonbound proof.
Float has been locked up.
Looks like it will be a fun afternoon.
Obviously the company is going to do a financing....
But ... is this going to run to 1.50s or better first?
Are you feeling up to play the game of musical chairs?
Wait until the offering. Until that time ... just wait and don't hold overnight.
Huawei accounts for a large portion of their revenue ...
So many shorts here with the midpoint orders going on.
Seems the move is overdone, but the shorts want to get filled low.
Will see if they stuff it low again.
People forgot about SINO Forest.
The CEO vehemently denied the allegations when they first surfaced.
Heck, he even said he feels sorry for the people that lost after the stock was delisted.
He didn't make investors whole, but at least he felt sorry.
SCS reports a fantastic quarter and goes down nearly 15%
Got to love those MMs dipping the table to see what falls off.
Let's use a simple example where debtholders were owed $1 Million total.
Steps
1. "Cancel" half the debt. (Share price $1)
2. Share Price doubles and doubles again (maybe more) because debt is half gone for FREE! (Share Price goes to $4)
3. Debtholders convert debt to shares at a rate of $0.50 (they had the ability to convert at a nice discount)
4. Old Debtholders sell new shares from $4.00 back to $1.00 with an average of $2.50
Debtholders who held $1 Million of debt, just converted all the debt into $1.25 Million Cash.
They told the investing public that the debt was gone, but somehow they still made out with more than they were owed.
If they couldn't get out with break even or profit, the debt holders wouldn't stay in the business very long.
If you go diving into the financials, you might see that some of these debt holding companies pop up again and again.
They won't tell you how much they make over their whole portfolio, but I am far more confident that they make a profit over the group of equity shareholders who buy the whole "debt is eliminated" story.
There's a current Reverse Merger being run up with promise of riches. (I won't mention it by name, but it has a China connection.)
I suspect that the old holders and debt holders (if any) sold out their shares to some group a couple weeks/months back and now that group is selling their load to the general public.
The issue with getting involved is you don't know how much that group has and what they think is a reasonable amount of gains.
The only thing I know for certain is that they want to remain in the darkness out of the investigation of the SEC and such.
Gone are the days of seeing stocks run into $5 and $10 and higher.
They know that if that were to happen, there is far higher chance of scrutiny.
But running up to $0.01 or maybe $0.10 ? There is very little proof that anything will happen.
I have thought about coming back to the OTC world.
But the issue is that the only way to make certain profits is to have an inside to when certain parties will sell or convert their debt into equity and sell the equity.
Once you have been around the block a few times, you start to realize that "investors" are more like suckers on the OTC.
What's worse are these tales of Reverse Mergers.
So, you are telling me that a Billion Dollar company is going to give a significant portion of the value of the company to a bunch of unknowns?
If a company really wanted to go public via a shell ... why make a big deal before officially announcing it?
I suspect that in the end, the company may actually want to go public .... but the pump at the beginning is to extinguish debt and to let the old holders out.
Thus, it's more a game of musical chairs.
When the music stops (when the old holders are out and debt paid off) .... a reverse split will likely happen wiping out the old base of investors.
Thank you for this.
Do you know if there was ties to what happened at IMMG?
They changed the ticker of IMMA to SSGOF in March 2017 and IMMG was run in April 2017.
I suspected that they changed IMMA such that IMMG would be easier to run up.
I mean if you type in IMM ... IMMA would show up before IMMG.
I believe that IMMG was the intended target. Which is why they changed the name and ticker of IMMA.
(The case you mentioned is more about what happened in the early days of IMMA, I am talking about when it was ultimately sunset.)
I have noticed an instance where I believe (no proof) that someone had changed rebranded/get a new ticker symbol in order to run a promotion of sorts on another.
I can't recall the other side right now, but SSGOF had a different name and ticker previously.
They had changed the ticker to SSGOF and ran the other.
(Will see if I can find the other one.)
Unfortunately, that's happened to me before.
Selling helps to sleep easier.
Vicious tweet hits the Health Insurance sector:
SCOOP: House Dems led by @FrankPallone are launching an investigation into some of the biggest companies that sell short-term health insurance plans (which they say are misleading consumers and drawing them away from the more comprehensive but more expensive ACA market)
— Alice Miranda Ollstein (@AliceOllstein) March 13, 2019
Shorts are all over this.
Fun to see them back off when a big order shows up.
Feel like they brought it down too far when in the $21s
Decent move today. Seems a little heavy for a long term hold, but decent as a trade.
Lovely trading.
Hope everyone is having a great Friday.
Some smart guy trying to unload a 15,000 share order on a stock with little after hours volume. Hopefully having a little fun at least.
So the warrant holder made sure the stock was walled at $3.50 and then 3.40, 3.30, 3.20, 3.10 and so on?
No. It's definitely shorts. Every time it tried to bounce up they stuffed it down again.
Except you know, the shorts who aren't letting it breath. Might be interesting if someone lit a match on the shorts.
Would love to see this retest $4s
$5.40 offering.
Ouch.
Decent trade 1.70s to upper 1.80s
If the conference call is nothing beyond the $3 million grant, it is probably going to fall.
Good luck.
Did the stock go up 200% because of the $3 million grant?
Today's price is acting like that is the case.
I don't see any signs of custodianship (posted online).
The last known CEO - Darin Myman - appears to not be affiliated anymore.
https://www.linkedin.com/in/darin-myman-9b5a7851
Seems ripe for a custodianship play. Let the Arcaro crew know about this one.
What a bounce. I scalped some but didn't expect it to nearly hit $26
Stock was in a panic as Argentina asked the IMF to hurry up and give them money.
Wish there was more moves like that.
430,000+ on the bid,
China stocks are out of favor for now.
XIN - another China real estate play is in the crapper for now.
Plenty of "easy" plays right now.
I mean, buy stuff down close to 20% when there is support and sell when you are up a few percent using a stop so you don't lose gains.
I am not swing trading any more.
Although something like CWH has had a few good days.
Really want to hold stuff more than a day, but the market is telling me nope.
Would love to jump back in here. Maybe next quarter will be more conducive to China plays.
No.
Clean Shells are only $300k at most.
I expect in a couple of months they will come back and pump it with some story.