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.
Some volume today... interesting!
Sure hope that we get some MOMO behind this one! I am fully loaded and would love to see this run up a few ticks..
-Matt
The daily short volume reports do not accurately represent a short position. When someone buys shares from say NITE and their MM is ETMM, if NITE does not have any inventory to immediately deliver these shares, this transaction is recorded as short on the report, however, they are delivered once the transaction fully clears.
This is how I understand the daily short reports. There is a second report that comes out monthly, I believe, which indicates the actual short position of a security.
Someone correct me if I am wrong.
-Matt
I placed a call to the 1-888-Sub-To-Go line about 10 minutes ago. The phone was quickly answered by a representative who seemed quite pleasant. I didn't order anything, but they are certainly in business and I could hear other phones ringing in the background.
I would think that the company must be close to updating us! Even if the transfer isn't ready just a brief status update for investors to say where they are and how much longer they anticipate this process to take.
IMO
-Matt
I think so too. Probably in the 5-10M range. Hopefully when we are ready to move back up, we will see a 50M-70M volume day!
-Matt
Sorry to see you go. One thing is certain... investor confidence seems to be at the lowest level in many years. The company has so much potential, yet the waiting game seems to be getting to many investors.
-Matt
Thanks Evan for the explanation. In this for the long haul!
-Matt
I have seen this below message posted on a bunch of message boards... will this effect IDGI at all? I do not totally understand it, so if someone can explain that would be great!
>>Important Notice to All Correspondents – New Low Priced Securities Deposit Policy
In recent months, the depositories (DTCC/NSCC) have exponentially increased the requirements associated with the trading of illiquid securities. Their rationale is based, in part, in the inherent volatility in the price of these securities in addition to the fact they are often very low in price. They are also concerned when a trade in an illiquid security is relatively large when compared to the security’s historical trading volume.
To date, Penson Financial Services, Inc. (PFSI) has allowed trading in illiquid and very low priced securities within certain prescribed guidelines in an effort to accommodate our correspondents. We have also, to a large degree, absorbed the substantial additional requirements associated with these trades, which have not been fully passed through to the correspondent.
Also, the regulatory community has recently become more focused on the deposits of physical certificates, particularly those that trade on the Pink Sheets or OTC Bulletin Board. The securities industry has experienced a significant spike in fraudulent transactions related to reduced valuations or non-existent or fraudulent transfer agent services for sub-penny securities. In addition, the potential for the use of these types of securities for money laundering or investor fraud are also of serious concern. As a result, the regulators have increased their scrutiny of transactions in these types of securities.
The combination of the deposit of a physical certificate and a subsequent trade in that security, which the depository has deemed to be illiquid, can result in exceptionally large requirements from the depository.
The risk deposit formula is based in part on liquidity and concentration and is also reflective of current regulatory and depository risk perspective of trading in low priced securities. In some cases, the deposit requirements exceed the value of the underlying trade by more than 100 times. For example, the depository requirement for one unsettled trade in an illiquid security done recently was $1.2 million, while the value of the underlying trade was less than $10,000.
After careful analysis and strong guidance from our regulators, and in response to the exorbitant additional requirements imposed by the depositories, we are modifying our policies to reflect a dramatically changed industry landscape.
Accordingly, effective immediately, PFSI has instituted the following changes to its securities processing policies.
PFSI will no longer accept deposits of equity securities traded on the Pink Sheet or OTC Bulletin Board markets priced below $0.10, to include but not limited to, utilizing the following methods of deposit:
1. Any form of Physical Certificate Deposit
a. Through the Penson SPS application (Securities Processing System)
b. Through the Transit System (TNST)
c. Via Mail
2. DWAC (Deposit/Withdrawal at Custodian)
3. DRS (Direct Registration Service)
4. ACAT Transfer of Restricted Stock -although, we will continue to accept deposits of certain low priced securities without any restrictive legend via ACAT, we reserve the right to reject any account that has a concentration of low priced securities (Penny Stocks).
To the extent that PFSI has received qualifying certificates that have not been processed, we will return those certificates to you immediately.
We are also reviewing ongoing trading activity in accounts with large, low priced securities positions, especially positions established by the deposit of certificates in some way. On a case-by-case basis, we may be restricting sale activity in such accounts, or even closing accounts when necessary.
PFSI recognizes that these new requirements pose certain challenges, however this decision is not negotiable. Our policy to cease processing deposits for these securities is an effort to reduce the exposure to both PFSI as well as its Introducing Broker-Dealers correspondents related to these securities.
To the extent you have questions, please contact your Relationship Manager for assistance.
Thank you, Penson Financial Services, Inc. >>
-Matt
Well put! All the same things that I have been thinking... afraid to post anything on here anymore because I get attacked for complaining... when in reality more people seem to be thinking the same thoughts that I have. We have a lot of waiting to do IMO.
-Matt
Thanks! Now we just need to hear something from the company and we will have an active board again!
-Matt
I agree with 90% or better... and that is our biggest problem. We are the only ones invested. Let's hope that we are the smart ones and are in WAY ahead of the Big days of positive returns!
-Matt
Poem,
I will take the asst. position if it is still available. Sorry about the delayed response to your PM.
-Matt
Honestly financials will not even move the PPS... without substantial REVENUES. Bottom line, the company needs to prove to investors that it is making money and has a sustained source of revenue year over year.
We had up to date financials before and the PPS dropped!
-Matt
Good morning everyone.
-Matt
I wasn't referring to the news update being stickied... I was just curious as to why the News release was not listed under THMRQ on IHUB like other PR's and Updates.
-Matt
Great post and very informative. Thanks!
-Matt
I believe the restrictions would be against our common shares being restricted to sell... so both sorta.
-Matt
More than likely they will be... otherwise what will stop us from dumping whatever post split shares we are given on Day 1 and tanking the stock back to .000's... Of course Pending GOOD news!
-Matt
I don't think this will be considered a revese merger... DTSL will not be merging into another company. They will be taking the viable part of the company, UDS, and spinning it off into a new ticker. They may also restrict our shares for a year and prevent us from selling immediately after the spin off.
The only good that can come of all of this would be if there already are investors waiting to buy up the new ticker as an investment, which would only happen if the revenues for the first qtr. are substantially better than most are expecting.
Waiting game here... praying for the best, but anticipating the worst.
IMO
-Matt
Why is this article not listed on IHUB under news?
-Matt
Good morning everyone! Back from OBX... let's start the week of right!
-Matt
Easiest way to tell if the company is dead would be to place an order through the Subs To Go website. If they had closed up shop, I would think the website would be the first to come down.
IMO
-Matt
Looks like we are testing the sellers patience!!
How low is he willing to sell at! I say let him keep bidwhacking till he is out of shares!
-Matt
Good day here!
-Matt
Here comes ETMM with avangence!
Grrr. Time to close my trading site!
-Matt
Would be nice to see... but they also seem to be strapped for cash. I would rather see them get current with financials then put on a flashy show. Attending the Swimshow event should attract enough potential buyers especially with SI under their belts. IMO
-Matt
Nice upticks today. This stock sure trades very thin... any sustained volume and we surge back up.
-Matt
No reason for anyone to buy without guidance from the company. We will hear something eventually!
Or the SEC will delist and we are all screwed.
-Matt
At this point, any news would be nice! Just an update to say... "Still working out terms of spin-off"! Just need to know they are alive and actively persuing some sort of end game here.
-Matt
Why not if your so convinced this is going to No bid or .000's... wouldn't this PPS be a wise exit point based on your previous posts of gloom and doom?
-Matt
Finish that statement... at YOUR desired PPS.
-Matt
Take your share count, put in a market sell order and click send. Your shares will be sold. Probably at a loss... but all who are predicting doom and gloom and .000's may be suprised at the bid support in the .003-.004 range.
If you want out you can easily exit, will you be happy with what you get? Probably not.
-Matt
Actually the stock has been pretty consistent in the way it behaves... everything that should help the PPS does exactly the opposite, all the time. If it wasn't for the large shareholders, the PPS would have done just like all the Pinks out there do run up and crash back to no bid in a few months time.
Wait, wait, and more waiting is about all we have for a game plan.
-Matt
SO hurry up and sell and move on before that happens! Would be the smart thing to do as a savy investor who seems to know it all.
-Matt
Priceless
-Matt
Gooo Pirates!
-Matt
This Saturday I leave... soooooon and gone for a week!
-Matt
I own way to many... go for it!
-Matt
We have 0 volume. If the Etrade seller is trying to SELL, he would logically move the Ask price down until someone wants to BUY... isn't that how a stock market works?
Whoever this Etrade seller is, he has many shares and just wants out to move on. Possibly his average is lower than the current PPS so selling in this range isn't a loss like so many peole here are stating.
IMO
-Matt
How do you take a loss on a No Bid stock? We are in this till the deal happens and then hopefully we can get out at a decent price.
IMO
-Matt