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We can help you if you not sure of this SIRG.
Your best bet is stay on sideline until we see major news about SIRG. So far nothing!!!!
On the website, I don't see copper production!
Oh geeeee! I thought they are famous for copper producer?? No copper production mention on the site??
It look like they are going to dilute more shares for expansion, cash flow won't cover all of it.
Unbelievable no news! Nothing? It was like getting a car wash for funding purpose, nothing concrete for business purpose! Fundraiser screw us big time! I think.
Penny-stock company accused of $4 million fraud
By Russell Hubbard / World-Herald staff writer
A large Omaha stock-clearing firm says it was swindled out of $4 million by a penny-stock company.
COR Clearing, one of the behind-the-scenes companies that handles the confirmation, bookkeeping and settlement of stock-market transactions, filed a federal lawsuit last week.
The suit, filed in U.S. District Court in Omaha, says a Las Vegas-based operator of Mexican copper mines called Calissio Resources took advantage of a weakness in a clearing and settlement system to make off with dividends on its own shares it had no business collecting.
“Through its fraud, Calissio has retained some or all of $4 million from COR Clearing to which it has admitted it is not entitled,” the suit says. “At this time, there exists the immediate danger that the defendants will abscond with the improperly held dividends and make it unlikely or impossible to obtain complete relief in this action.”
The suit said it all started because Calissio, whose shares last traded for less than a penny and were listed as “halted” Tuesday by the OTC Pink sheets market, bought back millions of shares from shareholders in June. At about the same time, Calissio was “surreptitiously” issuing millions of new shares onto the market, the suit said.
The company, the suit said, also flooded the market with additional shares by offering creditors new stock to replace debt.
Meanwhile, June 30 had been set as the dividend record date — meaning that to be eligible for a dividend, a shareholder had to own the stock as of that date.
But the torrent of new shares had changed the equation dramatically, the suit said.
“Due to the massive dump of new stock after June 30 ... four out of five Calissio shares were ineligible for a dividend,” the suit says.
A third-party company that is not part of the suit but that settles up quarterly dividend payouts for companies, New York-based Depository Trust & Clearing Corp., during the August dividend payout period failed to distinguish which shares were eligible and which were not for the Aug. 17 dividend, the suit says.
“DTCC paid dividends to Calissio on all shares on its system — including the 80 percent of shares that were issued after the June 30, 2015, record date that were not dividend-eligible,” the suit said.
A large percentage of those newly issued shares, the suit says, were owned by Calissio because of its aggressive stock buyback program. And even though the shares weren’t eligible for dividends, the timing of the buybacks would have given Calissio the rights to the dividends attached to those shares, had they been eligible for dividends.
The end result, the suit said, is COR Clearing customers that had sold Calissio shares back to Calissio were mistakenly debited the dividend amounts they had sold to Calissio and Calissio itself was mistakenly credited with the corresponding amounts.
Errors aside, such debits and credits are a routine matter around dividend time, as companies themselves can’t keep track of who owns shares that have been traded close to dividend season. It is up to clearing firms to debit and credit the correct parties.
But because of the way Wall Street clearing firms settle such matters, the money was deducted from one of COR Clearing’s accounts by Depositary Trust & Clearing, and paid to Calissio.
Calissio Chief Executive Adam Carter says it was all a mistake, according to the suit. The suit notes that none of the money has been paid back.
“Calissio’s feigned mistake hardly serves to conceal what the facts show to be its conscious effort to deceive its shareholders into selling their shares of Calissio stock back to the company ... and then to claim substantial yet unwarranted dividends from unwary sellers and their clearing firms, such as COR Clearing,” the suit says.
COR Clearing declined to comment on pending litigation. Email and phone messages left with Calissio and Carter weren’t returned. Depositary Trust & Clearing also didn’t reply to a request for comment.
Calissio Resources was formerly known as Armarium Technologies. The company’s unaudited 2014 financial statement posted on its website says operating activities earned a $3.1 million profit on revenue of $5.9 million. The annual report says it operates copper mills in Mexico in or near the municipalities of Vialla Madero and Michoacán.
COR Clearing employs about 110 people at its downtown Omaha headquarters. It says in the suit that it works with 90 brokerage firms in all 50 states and is custodian of more than $7 billion in assets
Can you say, SIRG bluff you?
So far I haven't seen any meaningful news about this SIRG!
Oh well, this stock is strong sell
Also read the headline,
Slump in copper prices leads to job cuts at Arizona mines.
Can TRTC survive in brutal winter? I mean MJ and vegetable planting is over? Does anyone know how much they have in the storage now? I wonder?
China's shrinking copper appetite is killing US jobs
By Matt Egan
NEW YORK (CNNMoney) -- China's insatiable appetite for metals like copper is falling off a cliff. It's destroying prices of raw materials.
And killing U.S. jobs.
Copper -- a key indicator of global growth -- has been hit especially hard by China's slowdown. Prices have tumbled 40% since early 2013. There's now an oversupply of copper in the world, because the frenzied demand from China has fizzled.
Besides electronic products and cars, copper is widely used in wiring, plumbing and building construction -- key components in China's massive infrastructure development boom of the last decade. That building boom is now fading.
Miners are scrambling to react to the new environment. Several are aggressively scaling back mining activities, forcing them to cut U.S. jobs as well.
Copper giant cuts 10% of U.S. jobs
Freeport-McMoRan, the world's largest publicly traded copper miner, is slashing its mining employees and contractors by 10%. That translates to about 800 job cuts in Arizona and 200 in New Mexico, Freeport told CNNMoney. The company plans to suspend operations at a mine named Miami in Arizona and decrease output by 50% at its Tyron site in New Mexico.
It dramatically scaled back its 2016 capital spending plans by another 29% on Thursday. The move came after just earlier this summer the company said it was dialing back its spending targets on oil-and-gas projects due to the plunge in energy prices.
Carl Icahn takes stake
Wall Street loves Freeport's aggressive moves. Its shares spiked 23% on Thursday, their biggest gain since 2008. Part of Thursday's gains were also fueled by a big rebound in copper and oil prices.
Freeport rallied an additional 20% in after-hours trading after billionaire Carl Icahn revealed a stake in the company. The famed investor said he believes the stock is "undervalued" and suggested possible talks with management over a number of items, including cutting Freeport's "high-cost" production.
Despite the surge, Freeport shares have lost an incredible 75% of their value over the past year.
American workers losing jobs
The layoffs offer a stark example of how trouble in China is already impacting everyday Americans.
In a statement, Freeport said it is responding aggressively to the recent plunge in commodity prices and "the current weakness in global economic conditions."
China is the biggest force behind both of those dynamics.
When China's economy was surging ahead, it needed a huge amount of raw materials like copper and iron ore to support the wave of construction.
In fact, China represents 40% of global copper demand, according to Garrett Nelson, a mining analyst at BB&T. That's more than the demand of the U.S, Europe and Japan -- combined.
Now there's a copper supply glut
Just like how the $100 oil price fueled a wave of new drilling, the China growth story triggered a gush of expansion by miners hoping to capitalize on the boom.
But now that China's growth has slowed drastically, the world has more industrial metal than it needs. China demand is down 3% so far this year, even as global production has increased 3%, according to the International Copper Study Group.
That's why copper prices are currently sitting at new six-year lows of $2.25 per pound, compared with nearly $4 in early 2013. Other metals like iron ore and nickel are also at lows.
More mining job cuts likely
Prices may be depressed until the industrial metals supply glut is eased by production cuts. That means more job cuts like the one Freeport disclosed this week may be in the cards.
Several copper miners have higher production costs than Freeport, making them prime suspects for layoffs. According to a Southern Copper investor presentation, they include Antofagasta, BHP Billiton, Codelco, Vale, Glencore and Anglo American.
BHP and Anglo have already announced layoffs, with the latter eliminating 53,000 jobs.
"The reality is there is going to be more pain ahead," said Nelson.
Commodities Bubble Provides Painful Lessons.
Can you deal pain? Real pain?
Mr. Copper said, Five billion dollars in mining capital disappeared over the course of a few hours and there is more to come when market open next week.
Tucson, Ariz.- based copper-mining giant Asarco to shut down
Who next? Copper price crash and pumper get real!
Calissio Resources Group Inc. (OTCMKTS:CRGP, CRGP message board) started yesterday's session on a positive note, but quickly lost its edge, and then turned downright ugly at the end of the trading day.
Once more, enthusiasts flocked towards the ticker, empowered by CRGP's recent announcements, but this time nothing went their way. A wave of selling swept the ticker below its opening position mere minutes after the session's opening, followed by a relative calm. Everything would have been fine if that had been the end of it, but the same thing happened once more at 15:24, and this time the ticker did not even have time to recover.
The result is that CRGP ended up losing a third of its market value over the span of half an hour of trading. How could such a thing happen?
Even just studying the company's charts, a perceptive investor would have been hard pressed to admit that something is very wrong in CRGP's recent movements. The ticker's jumps are decisive, but almost every time the company revs its engines, sooner or later it gets slapped with a wave of selling that crushes its momentum.
It is easy to discern the cause behind the investors' excitement about CRGP stock. After all, the company is far from idle and looks more financially stable than most of its competitors on the OTC Markets. Additionally, it keeps pumping out announcements that claim that it is trying to fix its share structure situation.
However, things being as they are, there is no real way to know how bad said situation actually is. All we know is that as of June 30 CRGP reported having 130 million shares outstanding, between then and now it claims to have retired 158 million shares, and yet somehow it still manages to trade as many as 400 MILLION shares per day!
This hints at an appalling level of investor value-crushing dilution. Of course, there's no real way to know whether or not said dilution is really happening and what its extent is, since the company does not seem inclined to shed light on the matter. However, this hypothesis certainly appears plausible, especially in light of the facts given above and CRGP's most recent movements.
Investors should really consider that distinct possibility and act accordingly
Authorized shares must hold for 6 months
Sec Gov / Rule 144.
If you want to sell your restricted or control securities to the public, you can meet the applicable conditions set forth in Rule 144. The rule is not the exclusive means for selling restricted or control securities, but provides a "safe harbor" exemption to sellers. The rule's five conditions are summarized below:
Additional securities purchased from the issuer do not affect the holding period of previously purchased securities of the same class. If you purchased restricted securities from another non-affiliate, you can tack on that non-affiliate's holding period to your holding period. For gifts made by an affiliate, the holding period begins when the affiliate acquired the securities and not on the date of the gift. In the case of a stock option, including employee stock options, the holding period begins on the date the option is exercised and not the date it is granted.
Holding Period. Before you may sell any restricted securities in the marketplace, you must hold them for a certain period of time. If the company that issued the securities is a “reporting company” in that it is subject to the reporting requirements of the Securities Exchange Act of 1934, then you must hold the securities for at least six months. If the issuer of the securities is not subject to the reporting requirements, then you must hold the securities for at least one year. The relevant holding period begins when the securities were bought and fully paid for. The holding period only applies to restricted securities. Because securities acquired in the public market are not restricted, there is no holding period for an affiliate who purchases securities of the issuer in the marketplace. But the resale of an affiliate's shares as control securities is subject to the other conditions of the rule.
Does Calissio Resources have gold and silver mines?
Gold and Silver I wonder if they have gold or silver mines?
So? She is titled to get money, plus she have millions shares I wouldn't be concern.
Copper hit 52 week low!
Are you ready to sell if Copper hit the floor?
Good grief!
Just for fun I called couple MJ dispensaries to see if they have IVXX in stock and they told me they are selling well.
Blog written in spanish! What happen?
Copper was down a penny to 2.31 a pound.
Welcome to global depression!
So use the mine's money, ugh to blow up shareholder dream?
Dividend pay out is another tool to bait pumper!
From software development to mining?
Red Flag
Source Seeking Alpha Feb 9, 2015
Copper crash and how low can this metal get? Be careful what you wish for and because demand for this metal will dry up.
Yes, I have a question too, either it is fake or scam.
No, I found this info relating to copper slow down. I don't purchase copper.
China factories slow, they have no reason to buy copper from Calissio!
Copper Price Crash! How low can this company survive?
Can you say forget dividends and watch your back!
Short interest almost 70,000,000 now climbing from the Aug 13,000,000
Red Flag Pump and Dump
Colorado marijuana tax revenues are up nearly 100 percent
Go figure!
There is no fast track for this drug
This is not AIDS or HIV crisis
Now remember this, it takes 10 years for FDA to approve a drug
Let play memory game, how long does it take for FDA to approve drug?
If you guess it right, then you sell this stock and buy me a drink.
Drug Approvals - From Invention to Market ... A 12- Year Trip
n the United States, it takes an average of 12 years for an experimental drug to travel from the laboratory to your medicine cabinet. That is, if it makes it.
Only 5 in 5,000 drugs that enter preclinical testing progress to human testing. One of these 5 drugs that are tested in people is approved. The chance for a new drug to actually make it to market is thus only 1 in 5,000. Not very good odds.
The process of drug approval is controlled in most countries by a governmental regulatory agency. In the U.S., the Food and Drug Administration (FDA) governs this process. The FDA requires the following sequence of events before approving a drug.
FDA Approvals
It takes on average 12 years and over US$350 million to get a new drug from the laboratory onto the pharmacy shelf. Once a company develops a drug, it undergoes around three and a half years of laboratory testing, before an application is made to the U.S. Food and Drug Administration (FDA) to begin testing the drug in humans. Only one in 1000 of the compounds that enter laboratory testing will ever make it to human testing.
It take 5 to 10 years for FDA to approve any drugs. I talk to staff at the hospital, he said there is no way for this company to stay in business that long, Can you say, BURN MONEY IN THE HOLE
Terra Tech waste no time to spread out the wings First MJ, Second Edible Gardens, Third Manufactures indoors gardens, Fourth build and lease MJ dispensaries, Fifth Take a guess.
This baby is going to grow.
Terra Tech should build MJ dispensaries and lease them That will be great idea. They get 2 things rental income and real estate appreciation.
Is California ready to legalize marijuana?
Source Aug 12, PBS
Source PBS, Aug 12, 2015
Is California ready to legalize marijuana?
If Californians vote next year to legalize the sale of recreational marijuana, will the state be ready? There is an effort underway in California to get a marijuana legalization initiative on the 2016 ballot.
A report released last month by the Blue Ribbon Commission on Marijuana Policy provides a road map for regulating pot in California. It recommends developing certain policies and guidelines to insure California doesn't face the problems encountered by other states that have legalized marijuana.
California Lt. Governor Gavin Newsom, who is running for governor in 2018 and led the commission, supports legalizing marijuana. But he said if the state legalizes the use of recreational marijuana, it will take time to implement.
“If we do move forward with it, it’s not a one act,” Newsom told KPBS Midday Edition on Wednesday. “It’s going to happen over the course of many, many years, and that requires a diligence and a stewardship.”
Newsom said the commission offered 58 recommendations surrounding the legalization of marijuana, on topics ranging from taxes and regulation to enforcement of any new rules.
Four states and the District of Columbia have legalized the recreational use of marijuana.
California is ready to legalize marijuana for one big reason "Taxes Windfall" I saw this discussion on PBS. State of CA believes in taxing smoker who smoke MJ to help people in welfare. Colorado in the first year made over $50,000,000 in MJ taxes.
MJ is non profit and but selling cross selling product for profit Watch and learn.
So MJ is non profit, but they still can make money selling cross selling product and also they grow vegetable indoor all year long. So I predicted record revenue and first time profit. Good luck.