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.
Can you explain this a bit more? I'm sort of confused as I'm reading this ballot. To me, it sounds like if I don't complete this and turn it in I will not receive any disbursement if the plan is approved. Is this the case?
I got my ballot in the mail and then realized that it was missing a return envelope. I called my bank and they wanted a processing fee to resent me a ballot with an envelope, but by then it would be too late. I asked them if there was an electronic means of voting, they said contact KCC. I contacted them, and they told me to get ahold of my bank.
It's a giant run around. I think the bank doesn't care and KCC is getting paid regardless, so there's a lot of apathy and content with all the shareholders being screwed.
We need to call Walrath directly.
It's like 2008 all over again lol EOM
But strategically, this makes sense.
Whether or not the examiner was paid off, the report is still going to make a lot of people pull out and drive the price down.
How many times has a stock's price been driven down right before a huge uptick? Let's put ourselves in the shoes of JPM. They don't want to pay out a large amount of money to the holders of the preferred shares, especially if they're going to up significantly.
Driving down the price is a strategic move because if they are expecting a large amount of money to be paid out (all of the preferred shares they don't control) then they will want to buy up as much preferred stock as they can at a lower price before the PPS goes way up.
I've got high hopes for this. If all of us shareholders get the boot the publicity of this thing and how shady it all was, especially after all this time, will go through the roof.
I'm not selling. I hope there's others who are with me.
And everyone is going to bail out because of what the examiner said.
If we look back at some of the shoddy activity we discovered (wasn't there proof of emails to and from JPM and FDIC concerning WaMu?) the ball should still be in our court. I think this is just a bad referee call that needs to be challenged.
It seems like I keep waiting for the judge to come out and say "JPM, you were and are wrong."
I never thought that commons would see anything, which is why I didn't bother with them. But for preferred stock shareholders this is outrageous.
Something else I want to know is this: How can we be certain that this examiner wasn't approached by a representative of JPM with a significant amount of money in order to make sure his report said certain things?
This whole thing - the fire sale, the litigation, the examiner - seems a little pre-planned and set up if you ask me. Too much momentum was in WaMu's court, and now they're saying JPM gets the ball when we haven't lost possession.
They're voting on Nov. 15 http://amlawdaily.typepad.com/amlawdaily/2010/10/dis.html
Isn't this technically a pendant that formed, and with the test of 1.27 doesn't that usually indicate a breakout?
What is this 1% you are talking about?
lol I understand now. =)
I'll probably pick some more up here in the 1.6 range. I'm waiting for funds to clear.
As long as people start to realize that it was just a proposal, we should at least go back to where we were.
What do you mean?
I have to agree with whoever had said, "Once people realize that it was just a proposed settlement this will bounce back up."
The way I see it people did quick math and dumped for whatever they could. Once that happened, a lot of people took that opportunity to average down and buy more shares. As soon as THAT happened, the share price shot back up and now we will see two things:
1. People flipping from their low entry positions, and
2. People buying those shares to try to get the PPS back up to where it was before.
IMO, we will see a steady rollercoaster between 2.5 and 1.5, although I can't be for sure. I assess this is the case because we don't know for sure that we will get what we think we deserve - all we do know is that we will fight for a fair settlement!
And I have my faith and confidence in our justice system (ha!) and that our letters will not go unheard. The only thing that will really screw us over is someone on the inside negotiating a shady deal for profit.
I mean, if they can get away with a firesale of an entire bank, what else can they get away with?
That's exactly what I was reading. I don't think the majority of the holders are going to accept this offer.
I think we need to ask ourselves why they would accept such a lowball offer.
Is there something happening behind the curtains that us audience members cannot see?
Am I to understand that WAMKQs are worth $5.00???
I'm in the same boat. Thanks for your reply regarding ddunderground.com - a lot of people think I get paid to "Bash" stocks, which doesn't really make a whole lot of sense.
I'm in at 146 hoping for a miracle as well. With this one I did my DD after the fact. lol kind of dumb, especially since I run a DD website. Oh well.
Yeah, I was just bored.
I hate to say I told you so, but I told you so.
That's definitely already been posted here: http://ddunderground.com/scam-watch-bonanza-oil-and-gas-inc-bgoi.html
No one wanted to listen to me and then not two days after I hung up that link on this board, BAM, the stock tanks.
Here's everything that I found on PGNE for you Scott:
http://ddunderground.com/scam-watch-primegen-energy-corp-pgne.html
$250 maybe for a fully reporting one. I can probably get away with a non-reporting for about $85k, pay another $10k to a bunch of forum pumpers, then dump a Reg D 504 sale at about 1000% profit... Oh wait I'm not Brola.
On a serious note, I know a lot are for sale less than $100k but are only offering 95% of their total stock (so the original owners can retain profits, obviously).
I am looking at two right now:
One is a pink-sheet reporting company that was bought by a printer supply company and went bankrupt. The other is a little more pricey, but has a perfectly clean history ($275k is the listed amount - I can probably talk them down to $250k).
For a single website without inventory, though, I would feel silly as an investor purchasing shares of a company that is still in development stage. But isn't that the fun in pinks?
I think as long as I don't make the mistake of never updating the shareholders, it could be a good thing. Have a timeline, have a budget, and stick to it all.
Get the warehouse.
Start the initial inventory orders.
Build the website.
Receive/sort/invetory the stock.
Begin Sales.
I would have to have a lot of help with demographic research, market and competition research, and cost-profit analysis.
Anyone interested? lol
Securing a retail location for this wouldn't be a problem at all, I would just think that with the complacency of the average consumer - especially if its going to be a piece of gear less than $100 - an online storefront would be ideal.
I've been looking into this quite a bit. I have contacts in China and Hong Kong for all sorts of iPod/iPad, iPhone and cell phone accessories, as well as things like DVD players and watches.
I still want to turn it into a discount electronics store, where everything is under $99...
We need proof of this contract, because all the research I have done on Westerly Exploration says big $$ in the future.
Their secretary, here: http://people.forbes.com/profile/peter-j-fluor/5808
Kane C. Weiner, their President
The only strange thing I found was that all references to the people, to include the address and Jefferson Texas county filings, point to Texas Crude, Inc, and not Westerly Exploration....
Ha! I found the first one but couldn't find the second. Thanks!
Never once have I been called a basher, and if data from 8-k's are what you are calling negativity, something is definitely wrong.
I have made quite a bit of money off of this stock- so again, trying to be civil, there is no benefit to me makng these things up.
Boards like this are prime examples of how stocks trade on emotion.
I'm all about this sock going to the moon. I have a high sale order for 03 waiting for whatever news or PR pumps it up. I wish everyone well and do hope we maintin a support level around 02.
It's a volume leader - that doesn't mean it's not a scam. I appreciate your intentions, because at the end of the day everyone wants to be profitable.
I like to dig up things on people that most people just don't have the time to find. Hidden inside 8-Ks are "intentional word play to try and confuse [and keep] specific words in the readers mind. Psychological tricks. Text book" (StealthTrader). I like to find them and share them.
Check out the other companies I have researched and perhaps you will take a different perspective on the matter.
lol nope. I don't borrow money to buy stocks. And if you actually read the website you would see that everything - EVERYTHING - is backed up by SEC filings, company websites, or press releases.
Again, I don't understand how bad-mouthing a stock is going to be profitable for anyone. Call me crazy, but I think me PUMPING the stock would make more sense.
And perhaps we are all under the misunderstanding that when I say I'm "short" on BGOI I mean I'll be out when it hits 03 (IF it hits 03).
Edit 1: And I apologize for the misunderstanding there. I've been at this for a long time and my head is fried.
Whoa, negative slant? No; everything I've found has been straight from information publicly available that has been filed with the SEC. There's nothing that says don't invest in it, just don't dump thousands of dollars in the idea of Bonanza Oil and Gas and leave it on the backburner because you think one day it will sky rocket to over a dollar.
I am "short" on this stock because I do not take a long position. I bought in at 011 and have a sell order at 030, and that's when I'm out - that's all the risk I'm willing to take. If I said I was in long I would say I don't have a sell order right now.
I received an email from several people claiming that I am purposefully trying to degrade the stock price. My question is this: How on Earth could I profit from that? Why would I talk negatively about a stock I myself have invested in? What person in their right mind purchases a hundred thousand shares of a pink sheet company and then talks bad about it?
My goal with ddunderground - and through the dissemination of my research in general - is to let people know the things that I found. With my background I have a tendency to see between the lines and find things other people can't, so I try to share that.
There is ONE account on that website where I outright make fun of the company and talk bad about it, and that is MNTY. Other than that, everything else has links to websites (mostly SEC filings) that back up everything I come up with.
I would appreciate you read the information before you make assumptions.
I understand. I'm just hoping more to disseminate information that not everyone might have found out. That's all. I'm not trying to bad-mouth anything - heck, I'm even in this thing. I just want to share info, that's all.
All the information comes straight from SEC filings.
January 10 SEC filing - these guys are totally screwed.
http://www.sec.gov/litigation/litreleases/2010/lr21368.htm
I agree with powderkeg. In the short term, and especially during this holiday break, we need to play devil's advocate with this to ensure we aren't making unrealistic expectations of this stock.
Scam Watch: BGOI
This is more for people who are in BGOI for the long haul. It took me three days to come up with all this information. Basically, BGOI is affiliated with NFLA (National Filing Agents) and PWI (Plantation Working Interests). It also has 67% equity ownership by Lucas Energy (LEI), Bill Wiseman, and even Bill Sawyer, CEO of LEI.
Read the whole thing here: http://ddunderground.com/scam-watch-bonanza-oil-and-gas-inc-bgoi.html
And please, if anyone has any more information that they can add, let me know!
This isn't a shot at telling people to not short this stock - I'm making a huge profit off the spikes. This is just information that I think every investor should have in his pocket about this company (and all the related ones). This isn't these guys' first carnival, if you know what I mean.
White Marubozu AND BGOI is top volume leader:
http://www.axcessnews.com/index.php/articles/show/id/19590
Ospreyeye: could you email me at admin AT ddunderground.com? I'm interested in exploring a writing contract with you.
I was reading the 8-k and saw that there is an agreed upon conversion rate for a 14% stakeholder. http://google.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7034446-8114-12571&type=sect&TabIndex=2&companyid=594526&ppu=%252fdefault.aspx%253fcompanyid%253d594526
their conversion rate is 0.0025- does that mean anythingto us shareholders?
Are we looking at the same chart?
I spot another support at 129. Looks like sellers are breaking through all others.