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by Jove, i think this stock is heading below 0.......then fife and scott can wipe their butts with the certificates. go nsmg!
oh no! don't tell me you fell for the Iraqi Dinar hustle? Please say it ain't so!
i mostly care about the one i own and yes the entire sector is down (as are the solars/gen' mkt etc) but nothing like this. several recent events should have gotten this out of the grave, or at least crawling upward. are you making the case that all the cane stocks are doing as poorly as nsmg - not sure about that percentage wise off even last years high. this stock shows no floor above .001 +/-. in any event, we will see if damage estimates help at all. next we will hear "well, nsmg only does roofs and this storm destroyed mainly entire houses so they did not pick up a lot of contracts" or some such nonsense. whatever minute bit of optimism i have left will be settled by damage estimates and nsmg's share of the bill. of course, they are mainly middlemen to ins companies and don't have the cash to float $$$ while wating for ins $$. we will see.
too much debt - too much stock - too little business acumen
i would rather wipe my butt with the certificates :0
here is the verbiage for those interested:
The SEC's actions will apply to the securities of all public companies and are effective at 12:01 a.m. ET on Thursday, September 18, 2008.
First, the SEC adopted, on an interim final basis, a new rule requiring a short seller's broker-dealer to deliver securities by the close of business on the settlement date (e.g., three days after the sale, or T+3, for equities). If a short sale violates this "close out" requirement, the short seller's broker-dealer will be prohibited from further short sales for all of the broker-dealer's customers (not just the original short seller) in the same security unless the broker-dealer locates and pre-borrows the shares required to settle future short sales. The SEC will request comment on this rule despite the rule's immediate effectiveness.
Second, the SEC approved a final rule to eliminate the options market maker exception from the close-out requirement of Rule 203(b)(3) in Regulation SHO. This rule change will be effective five days after publication in the Federal Register.
Third, the SEC adopted Rule 10b-21 under the Securities Exchange Act of 1934 (Exchange Act), which was proposed earlier this spring as an attempt generally to address abusive naked short selling.1 Rule 10b-21 effectively provides that it is a violation of the antifraud provisions of Section 10(b) of the Exchange Act for any short seller, including a broker-dealer acting for its own account, to deceive others (e.g., broker-dealers, other participants of a registered clearing agency, or purchasers) about the seller's intention or ability to deliver the securities sold short in time for settlement, and to subsequently fail to deliver those securities on or before the date delivery is due. Rule 10b-21 is effective immediately.
With many commenters suggesting that the SEC should consider reinstating the "tick test" (or adopt other restrictive measures), it will be interesting to see if the SEC views today's actions as final solutions or the first steps towards additional rule-making efforts. If you have questions regarding the new rules, please contact the Mayer Brown attorney with whom you normally communicate or any of the attorneys below.
actually, the SEC has dribled out a few different versions of the "new" naked shorting rules (love how they make like it was ever legal). it looks to me like the list of companies protected from NS has expanded (big boys protect each other of course) but not a market wide application of the "new" rule. guess we will see. welfare for wall street - what a world, what a world.
1K shares made two bucks today or a buck sixty at close with the usual paint job.
i got in for 1 K at 10.95 so not a happy camper at this point, but it is a long play for me so i only lose if i sell prematurely. that's the good part of being mostly a long player, these swings don't hurt as much during periods of instability. i am betting ASTI will be a solar player in the long term. if not, then it will have been a poor investment. no risk, no reward.
i agree with most of your well reasoned posts on cane plays. mirror trades may reflect the float closing (gee - market makers may get screwed - how sad and atypical) but all the SEC ruling means (with some actual oversight) is that they have to clean up their act until a new scam comes along. naked shorting should have never become tolerated or legal. for too many MM's and hedge mgrs it meant a virtual no risk proposition as they drove down share prices and cleaned out the store. now the shelves are looking pretty empty. in the end we get government ownership on the cheap. how diluted will AIG shares be when the dust clears ? i feel bad for their stockholders, the only ones without a bailout. only big hogs get fed on this farm.
i guess they just figured this out........
well, its now at .01.........maybe double zeros finally today?
your not missing anything. down to .02 at this point is rediculous. it is a hyper manipulated dog penny stock, i am sorry to say. or, you gcould go with the pumpers = what a buy right now! get in at the lows!! all set to explode as Ike hits, buy buy buy. que up the suckers.
congrats to you. i averaged down to my investment comfort level on this but will but not see that # come up on the wheel of fortune this year. the next 1/4ly will come too late for this year but hopefully they take on no new debt and pay down on their existing pile of debt. if they continue to simply issue more stock to survive then we are all screwed, unless picking up a hundred bucks on a .001 swing tickles your fancy.
you can have my 40K at .04 any day cause this stock is lazarus and J.C. ain't around to rise it from the dead.
good one. probably where NSMG management will go to avoid subpoenas....
3 non trading days during the media storm related frenzy hurt us plenty.
interesting back and forth on this topic. I did see the CEO on tv about a week ago and he indicated that they come in and contract with local folks to get jobs done in affected areas. he did not emphasize their own workforce doing the job anywhere. that told me they are mostly middlemen. i don't see nsmg with a cash or credit worthy position sufficient to bear the costs for a bunch of local contractors waiting for ins payments, which are almost always quite tardy. with Fife it seems they just got into new debt with him to try and make some sort of payment on their old debt to him, which is still actually unpaid. so they just buried themselves in debt and diluted the hell out of their shares in one brilliant stroke of business management acumen. i am just hopin for some news with minimal people damage that moves this to even territory for me, but that seems a major miracle (or two) away. hope springs eternal. its funny cause every investment bone in my body told me "what the hell are u doing buying a penny stock" but I pulled the trigger anyway. go figure. greed got the best of me.
go Yanks
well, if it has a pulse it should hit .25 to.50, but with so many shares out, and out so cheaply, it is like walking through molasses to go anywhere on the upside. Plus we lost three trading days during the current news run. perhaps we will see pent up demand off the news tues am, leading to the above prognostication. it does look to be a very active cane season so holding nsmg for a bit should be easier to live with. Of course, if i could actually predict the future, i would have won the lotto long before now and be sitting in a villa on the Greek Isles.
Say, McCain's VP pick.........he gives away the experience card (his major play) for a few menopause laden PUMA's ??? Go figure.
that's great - what was your gross profit ?
manipulation on a penny stock - ? no way!
good point. i do wonder whether the profit taking off such long and steep lows this year will inhibit upward movement as sells overwhelm buys on any movement up. Hope not. breaking even, at least, looks promising once more quick profit takers leave the stage.
maybe it did not damage any roofs.................
i checked whether taking a capital loss would help much on my taxes. not really. maybe i will ask for the physical certificates and use them for wallpaper..........just don't throw any more $$ away on this H_G.
as to 3saints, at least your slant on this company has been borne out over time versus the pumpers and cane watching fanatics. congrats are in order, i guess. like h_g i did not gamble more then i could walk away from without losing much sleep but always prefer winners!
"only a tropical storm" that has done 10 bill in damage per Miami Herald!! Geesh.
nsmg = Requiem En Pace. Das ist kaput. Let's see how rich Fife gets when nobody buys this *&^% anymore (ie: the sucker train runs out). Someday, all the shorts will have to cover, but who will have the patience to wait it out ? Besides, with all the dilution, even that may not be enough to revive this turkey. If they can actually generate some revenue this 1/4 and pay down debt, well - and if a frog had wings
can't read the Times anymore......mostly biased garbage like Fox but of a different ilk. Of course we can't simply drill our way out of this, it must be part of a comprehensive strategy that includes many approaches and ignores none unless economically or scientifically unfeasible. not for political reasons or to score points in an election year. both parties have already proven they are too infantile and self centered to do anything about our energy crisis when there is political hay to be made from the situation. A pox on both their corrupt houses, I say.
yes !! hopefully not "Freefall Solar Technologies". 1/4ly out soon.
market goes up - asti goes down
market goes down - asti goes down
at least the stock is consistent..................
good luck with the averaging down strategy. i got down to .14 that way and then felt the stock had no support beyond .02-.04 short of a cat 3 hitting downtown Miami (God forbid), so did not want to throw good money after bad. seems like Fife? et al (MM's) suck the life out of any potential upside before it can gain momentum and also sit on a huge amount of cheap shares (.01 to .02) to capitalize on any tiny upward movement + no cane news does not help. The more i think about it, it may just be karma for buying a stock that is predicated on someone else losing life or property before nsmg makes money. Selling the lot of it at a loss will at least diminish my tax burden from other stocks (non penny) that have done well for me this tax year and lessen any karmic overload. lesson learned.
i have held mine (due to low pps) since i orginally bought (like a fool) at .28. This is my 2'nd year in nsmg. I took advantage of this years bottom out to lower my av pps to .14 but I lost any sentiment to lower it further this year so it is now my break out pps. I usually hold (non penny) stock at least a year to lower my cap gains, unless prudent trrading dictates otherwise.
thanks for your thoughts. i am averaged out at .14 and would be thrilled to break even this season. i would sell so fast i would create my own tailwind on the way out.
I turned in my perfect button right after birth so don't worry bout it. I really do wish this stock was doing better and that I had more faith in it at this point. Saw .02 on microsoft today - uck.
well, i bought it with some expectation of making a future profit and some hope that the company would stop borrowing itself into fianacial oblivion and also diversify its ability to provide rewsotration services in multiple states. I now do not see profitability happening despite any news (or storms). That is just my opinion and I would love to be wrong. BTW, If only cheerleaders are allowed here then the board will be pretty scant. My only decision is whether to take a loss for taxes or keep the dog in the kennel to remind me penny stocks are always losers. This was my first and last penny stock trade. Good luck to all those who still have faith in this stock. I do not. And I read about 100x more posts then I post myself on this, or any, board.
and it tells us the stock is a dog. bow wow.
I'll have some of whatever your smokin....
the weiners who will sell out the first time it hits .04 and brag they made 20 bucks.