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I know they were suspended or halted. That's why I said that the shareholders had 2 wks. to think about what they would do.
John Good
But there the shareholders had 2 wks. to make a decision.
SLJB went from a Close of .09 to an Open of .055 to .01 in about 10 min., if I remember correctly.
John Good
Great Article! I couldn't have provided a better link for earnest myself!
This article should be required reading for all Stock Market newbies.
I see that the bashing of Patrick Byrne, David Patch & Bob O'Brain has increased significantly over the past 6 months or so on some of the Stock Message boards. Someone must be getting scared! LOL!
John Good
Totally agree with you Jim.
In my own case, I got involved with the Stock Market back in 2000, when the Business Reporter on the local TV station here in London, ON went down to the Swifttrade Securities office downtown to do a report on Professional Daytrading.
At the end of the day, he had made over $700US in profit, paper trading on their Trading Platform. I mentioned this to a friend (one of the very few LOL!), & he said that I would probably be good at this also.
To make a long story short, we both paid a $1000 each for me to do the 1 week course to qualify to Daytrade here in Ontario, but when it came time for mike to pony up the $25,000US min. for the trading account at Swifttrade, he was all talk & no action.
I thought about using Swifttrade's Trading Platform at home, but I didn't feel comfortable without the support of 15 or 20 other traders in the same room.
Besides, Daytrading as it used to be, was killed by the Decimalization of the system. Daytraders would make money on the spread between the Bid & Ask, & when the Stocks were in fractions, the min. fraction traded was 1/16th or 100 divided by 16 = 6.25 cents. Now the spreads can go right down to .00001 etc. Sure Swifttrade Securities are still Daytrading, but it's not as easy anymore, & probably even riskier now.
So, now I'm forced to resort to Swing or Momentum Trading Penny Stocks, & I end up holding about 4 or 5 because I got caught up in them. Grrrr!
John Good
I could have about 4 yrs. ago, but I don't have it anymore.
You'll have to Google it... IF you are really interested!
John Good
It's ironic that you mentioned Joe Kennedy, as he was one of the big problems in the Market back then.
He was a well-known shorter, & some say manipulator who contributed to the Big Crash of 29'.
He is no hero in the history of the Stock Market!
John Good
Better read your history books!
John Good
The only benefit that I can see to shorting, is that it creates volitility so traders can have swings to make money on.
I'm sorry if you can't grasp what I was saying about it being unethical, & only benefitting the shorter!
John Good
Shorting, particularily the naked kind caused the Crash of 29' & the Depression of the 30's that followed it!
Yeah, it sure does benefit everyone! LOL!
John Good
So you are saying that the MM's didn't set (drop) the price down to $1.30, but instead the price magically sets itself?
Bacause that's the way your explanation reads to many.
You seem to defend this practice, as if there's nothing wrong with it, when it causes huge losses to investors/traders & the company & whoever else is affected. Sure shorting is legal, but it's also unethical, & it invites criminal behaviour to the Markets.
I read an article a couple yrs. ago now, where the writer said that the practice of shorting (naked or otherwise), should be illegal. When someone shorts, they are betting that the company will do badly & it only benefits the shorter... no-one else. It also invites manipluation & abuse by the relatively small number of people who can benefit from this practice.
When you buy long it benefits everyone.
John Good
So you are saying that about 16 million shares rushed the Market that Jan. 22/08, all for about an 80% LOSS, just because the company announced that the Clinical Trial results were disappointing, but they would continue testing???
I find that had to believe happening, WITHOUT some price manipulation by the MM's, etc. to stimulate the panic selling! Seeesh...It may even have been the same guys who raided SLJB on Nov. 16/06!!!
Anyway, I am a shareholder just waiting for the OSC to lift the halt here in Ontario, so I can Sell & move on.
Are you a shareholder?
John Good
The irony here is that certain people still believe that the raid on the shareholders back on Nov. 16/06 was caused by the company! LOL!
Anyone, with even a little experience in trading could see right away that morning that it was criminal price manipulation by some entities WITHIN the system, that had the means right in front of them to drop the share price like a rock, in order to panic naive traders/investors.
Whethere SLJB did or did not do everything to the letter, as far as the Market Regulators are concerned, still remains to be seen. BUT... the real crime committed on the shareholders on Nov. 16/06 DID HAPPEN & there is no denying that fact.
It's like the shorters & naked-shorters going after a failing company because they are easy prey & probably will be driven out of business, because the company doesn't have the resources to fight the Market Manipulators! The result is that the current shareholders become victims & so does the company!
And you support this???
John Good
I have never heard of Tony Ryals, but most of us have heard of Patrick Byrne & his on-going fight with the Sellers of Counterfeit Shares/Naked Shorters of his company Overstock. He is a CEO who is putting his own money, reputation, credability, etc. on the line daily, for this cause!
What has "Tony Ryals" done?
As for Bob O'Brian & The Sanity Check Blog, & David Patch... these guys have become under intensifying attacks on the Stock Message Boards within the past 6 mon. or so. Somebody must be getting scared! LOL!
As for Gary Weiss... he deserves the same fate as Anthony Elgindy, IMO!
John Good
"shareholders will receive one share of convertible preferred stock valued at $1.00 for future conversion purposes and a warrant to purchase one share of the Company's common stock with an exercise price of $.05 per share."
I think they are saying that you can also (if you want) Buy common stock that you can Sell at $.05 share, in addition to your preferred shares.
John Good
You were wondering at the time, why MTPW activity was increasing, & I thought it was because of this PR.
Today, I see there is another PR, which is causing another run...
John Good
MetaPower International, Inc.'s Officers, Board of Directors and Affiliated Persons to Participate in Stock Exchange Program
PrimeZone via COMTEX
Jan 24, 2008 8:32:03 AM
LAS VEGAS, Jan 24, 2008 (PrimeNewswire via COMTEX News Network) --
MetaPower International, Inc. (Pink Sheets:MTPW) (the "Company" or "MetaPower International") is pleased to announce that the Company's Board of Directors have authorized the Company's officers, directors, employees and other affiliated and related persons to take part in the previously announced preferred share exchange program. MetaPower International, Inc. is offering, in exchange for currently outstanding shares of its common stock, new shares of its convertible preferred stock and a warrant to purchase the Company's common stock. In particular, the terms of the offer are that for every 100 shares of common stock offered back to the Company, shareholders will receive one share of convertible preferred stock valued at $1.00 for future conversion purposes and a warrant to purchase one share of the Company's common stock with an exercise price of $.05 per share.
In order to participate in the exchange of common shares to preferred stock and warrants, shareholders must deliver a certificate for their shares of common stock to MetaPower International, Inc. by March 15, 2008. For the complete terms and conditions of the preferred stock exchange program, please visit the Company's Web site at www.metapower.com and view the Information Statement that provides additional details.
Along with the preferred exchange program, MetaPower International is continuing with the previously announced buyback of up to 28 million shares of the Company's common stock.
"We are very pleased that our Board of Directors have elected to authorize the Company's officers, directors, employees and affiliated and related persons to participate in the current preferred share exchange program. We believe that both the preferred stock exchange and the common stock buyback program are in the best interest of our Company as we expect 2008 to be another great year for MetaPower International's customers, shareholders and employees," stated Ken Allen, President of MetaPower International, Inc.
The Company recently announced it generated estimated revenues of $3,500,000 and a net profit of $400,000 in 2007. MetaPower International originally forecasted an expectation of $2,000,000 in revenues and a net profit of $200,000. The third quarter of 2007 saw continued growth with revenues of $1,091,836, a 557% increase over the same period for 2006 and a 15.6% increase over Q2 of 2007.
About MetaPower International, Inc.:
MetaPower International, Inc. is a technology firm founded in 1996 that provides information technology and change management services to hazardous process industries. This link between technology and services is critical to enable the changes necessary to successfully compete in the current environment. In today's competitive world, business operations must be streamlined if new levels of performance and operational excellence are to be achieved.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events. To automatically receive instant updates, press releases, and other information on this and other Big Apple Consulting USA companies, please visit http://www.bigappleconsulting.com/compro.php and download your FREE copy of Big Apple ComPro.
This news release was distributed by PrimeNewswire, www.primenewswire.com
I guess this explains why! I didn't see this posted here yesterday...
John Good
MetaPower International, Inc.'s Board of Directors Approve Stock Buyback Program
Company Works Towards Increasing Shareholder Value in 2008
LAS VEGAS, Jan. 22, 2008 (PRIME NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) is pleased to announce that the Company's Board of Directors has authorized a buyback of up to 28 million shares of MetaPower International, Inc. common stock. The buyback will occur through open market purchases as permitted by securities laws and other legal requirements.
The decision was based upon various events throughout 2007 as well as the Company's overall goal of increasing shareholder value, and improving returns on investment. The buyback option will be available to all MetaPower officers, directors, employees, and other affiliated and related persons.
"We have had a very good year. Although we are still closing our books and the numbers are not final, we fully expect that we will see revenues of approximately $3,500,000 and net profits on the order of $400,000. While I am not prepared to forecast our performance at this time, I do expect another good year for MetaPower International. Based on the performance last year, the Board of Directors has agreed that our shares are significantly undervalued and should be trading at higher levels. We believe that this buyback program is in the best interest of MetaPower International, our stockholders and employees. We will continue to operate in the best interest of the Company and its shareholders," stated Ken Allen, President of MetaPower.
The Company recently announced that its subsidiary, MetaPower Canada, has received purchase orders totaling CAD$1,300,000 to provide Process Safety Management consulting services for a Canadian Energy company with operations in the Oil Sands region of Northern Alberta.
About MetaPower International, Inc.:
MetaPower International, Inc. is a technology firm founded in 1996 that provides information technology and change management services to hazardous process industries. This link between technology and services is critical to enable the changes necessary to successfully compete in the current environment. In today's competitive world, business operations must be streamlined if new levels of performance and operational excellence are to be achieved.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
OK... let me re-phrase that:
Nobody's been convicted of anything by any regulating authorities... for one thing!
Besides, I don't buy that "allegations" vs "charges" crap that some here are pushing!
John Good
Nobody's been charged with anything by any regulating authorities... for one thing!
I'll wait like most, for the facts before making any judgements.
But, thanx for asking!
John Good
"The agenda with many is following the story to the end, simple as that."
That may be true with some here, but I was talking about the people who are on these boards on a daily basis, usually bashing the stock or belittleling the shareholders & anyone else who says anything positive about a stock.
As for the people that "are just following the story to the end"... IMO, if you really were true traders, you wouldn't be wasting precious time posting about a stock that you DON'T OWN, but you would be researching your next trade!
But, what do I know!
John Good
LOL! They tried to find Jesus for a comment, but he was nowhere to be found. Appartantly, he & Petar V. have this in common!
John Good
Unfortunately that won't happen either, as 20/20 reported that there is no Hell as described by the Bible Thumpers.
ABC's 20/20 did a segment on this very subject earlier this year. They went to the Jerusalem area & determined that "Hell" was in reality an ancient pit or dump where fires constantly burned & people would dump everything there... including DEAD BODIES!
Appartantly, a common expression or even a threat back then was that a bad person would end up there, if they didn't behave.
There was also a word that they used back then, that was similar to the word "Hell" & it has stuck in folklore since. I can't remember now what this word was, but they said it in the piece.
And, this isn't the only time 20/20 has investigated Religious folklore over the years. Most clergymen just say "well you have to have faith" when confronted with supplying proof or facts to support claims in the Bible.
Interesting huh!
John Good
Bagholder Josh... I'm sure that once the Real Estate Market in the US recovers in a few years, from what the Sub-Prime Mortgage Criminals did to it, UNQT will make us all wealthy!!!
Too bad UNQT wasn't in the Sub-Prime Mortgage Brokerage business. We could have Sold before the collapse & be sittin' pretty! LOL!
Anyway, Happy Holidays Everyone!
Bagholder John
For those of you that don't bother to research the Markets that you invest in, only about 5% of all the companies in the Penny Stock Market actually do move on to become successful.
That's what I meant by the "rare opportunity" comment.
Sorry if my post confused you!
John Good
I live in Ontario & I am PO'd at the whole situation with the OSC. One regulatory agency should not be able to halt the trading of any company in a certain area!!!
The stock should be restricted for everyone. I cannot Buy or Sell SLJB till the restriction gets lifted & they keep extending the deadlines.
IF this goes back to trading status here in Ontario, then anyone residing in Ontario will have been robbed of a rare opportunity in the Penny Stock World of possibly making a small fortune!
I know some non-Ontario investors who have taken advantage of our current situation, to accumulate millions of SLJB shares. They say they have $100,000, or even over $400,000 invested in this!
Personally, I think they are members of "The More Money Than Brains Club" & are not really representative of the average online Penny Stock trader/investor anyway.
Add in the company's silence, & it's no wonder that people are frustrated right now... especially us here in Ontario!
John Good
This is from tld55, for you guys who have tax loss write-off questions...
Can someone post this on IHUB. Can't do it from home computer. They are asking lots of questions about losses.
10.4 Capital Gains, Losses/Sale of Home: Losses (Homes, Stocks, Other Property)
Is the loss on the sale of your home deductible?
The loss on the sale of a personal residence is a nondeductible personal loss.
References:
Publication 523, Selling Your Home
Tax Topic 409, Capital gains and losses
I own stock which became worthless last year. Can I take a bad debt deduction on my tax return?
If you own securities, including stocks, and they become totally worthless, you can take a deduction for a loss, but not for a bad debt.
Worthless securities are treated as though they were capital assets sold on the last day of the tax year. Report this claim for loss from worthless securities on Form 1040, Schedule D (PDF), in Part 1 or 2 depending on whether you held the stock short term or long term, and write "Worthless"in the applicable column of Schedule D. Keep in mind that recordkeeping requirements for claims for a loss from worthless securities require that you keep your records for 7 years. For additional information, refer to Chapter 4 of Publication 550, Investment Income and Expenses (Including Capital Gains and Losses) and Publication 552, Recordkeeping for Individuals. For more information on bad debts, refer to Tax Topic 453, Bad Debt Deduction.
References:
Publication 550, Investment Income and Expenses (Including Capital Gains and Losses)
Form 1040, Schedule D (PDF), Capital Gains and Losses
Tax Topic 453, Bad Debt Deduction
More Frequently Asked Tax Questions
I have read numerous times that the MM's & Brokers can just pass the FTD's amoungst themselves, to circumvent the Settlement Rule's time-period(s).
And, I don't see where this loophole has been closed under the latest rules on FTD's!
So, how can anyone really tell what the true picture is, as far as Counterfeit Shares, Naked-Shorts, FTD's, etc. are concerned?
The Market has got to become much more transparent, or nothing is going to change for the better in the Penny Stock World.
While, I believe that there are some crooked CEO's out there (not saying anything about SLJB, as nothing has been proven yet), I think that the majority of people in business are honest, hard-working & ethical. Besides, the CEO's & the Principals of the companies are easy to find, as they can't hide anonymously within the Market or the Internet, so IMO this would be a big deterant to most people!
Personally, I think that most of us here are being raped (financially-speaking) by a relatively small number of individuals, taking advantage of a system filled with loopholes & "slap on the wrist" penalties IF they get caught, etc.
John Good
With the ability of the MM's & Brokers to circumvent the 13 day Settlement Rule in the past, by just passing short or naked-short positions amoungst themselves to avoid reporting them, how can anyone say for sure what the true share position is for any stock?
And, I haven't heard that this has changed under the "new" rules!
You know, it would be so simple to eliminate any counterfeit or naked-short sales, just by making it a rule that...
"NO COMMISSIONS OR FEES PAID UNTIL TRADES ARE SETTLED...PERIOD"!!!
But, that would make too much common-sense to do so for our slimey Regulators!!!
John Good
Interesting read on the incompetance of "Canada's SEC"... The OSC.
No wonder they keep extending the dates of the hearings! They probably haven't even started on the case yet!
John Good
http://www.thestar.com/Business/article/281645
Myself, I got caught up in the raid on the share price back on Nov. 16/06 & I am waiting (& hoping) for a run to get out of this at least even.
The way I look at it is, anybody can buy a stock & hold onto it & be a "long", but it takes more effort, dedication & skill to be able to trade the stock on it's momentum (which doesn't exist at this time).
As for the people that bash a stock that they still own, you either have to have an agenda to do so, or you have to be the stupidest stock market participant in the World, as it is akin to telling everyone that a car you own is a POS & then wondering why no-one wants to buy your car when you go to sell it!
Anyway, I am not here to judge anyone, but just watching & hoping for anything, since we are not getting a peep out of the company & it's principals!
John Good
ARRGGGGH!!! NO!!! NO!!! NO!!!
SAY IT ISN'T SO!!!
John Good
(Maybe it's time for a Bagholder's Funeral!)
"Comatoast"!!! LOL! I like that!
John Good
Me & my 1 million shares will be gone at $1!!! LOL!
John Good
I saw that last night! Damn... I hope you're right, as I have been holding a million shares of this for a couple yrs. now!
John Good
Who said we were dead? LOL!
Actually, it's a well done site. I've seen worse!
John Good
Mysterymann must live under Janice Shell's skirt!
John Good
Hey Frankie... Paris is on The Simple Life right now as I speak! LOL!
John Good
It was an honest mistake, as Scorpio didn't read thru all of JB's posts, before he posted this on another board.
Stop tyrying to create "drama" where there isn't any!
John Good
Boy, what a bunch of "un-loyal" shareholders UNQT has! J/K! LOL!
John Good
And I might add... With Sulja Bros. legal council controlling the release of public info. at the moment, I'm sure that they are aware & on top of things like this!
Some people here are way too paranoid to be playing the Stock Market! IMO!
John Good
I can't imagine a better way to leave this life than to suddenly meet the firey goddess on one of my walks.
Not me... I'd rather be shot in bed with Jessica Alba by her jealous fiance! LOL!
John Good