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Another twist in the tale that is Unico.
https://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=v%252beA%252fvBX4LxrFhtswnrheQ%253d%253d
How does a company that is 9 months old come up with $10 million?
Yes it is, accumulated losses are over $50 million. They are going to sell the only asset that ever had any hope of producing anything.
Silver Bell is insignificant and they would probably sell that too if anyone would buy it.
$10 million is a drop in the ocean and will not send this stock to $0.05 period.
http://www.sec.gov/Archives/edgar/data/1110737/000102317511000374/fbi_investigation8keditedsb7.htm
On June 17, 2011, Unico, Inc received a grand jury subpoena from the United States Attorney’s Office for the Southern District of California (USAO-SD Cal) requesting certain documents as part of an ongoing criminal investigation. The subpoena is focused on transactions conducted under section 3(a)(10) of the Securities Act of 1933 that took place in the time period 2006 to 2008. On June 29, 2011, the USAO-SD Cal executed a search warrant on a storage unit containing Unico, Inc, documents. The search warrant focuses on the same types of transactions.
I know for a fact.
A debenture is a debt instrument similar to a loan note. Money was loaned convertible to shares in the company or cash after a 6 month time period. The debentures were allowed to go delinquent (when they could have been settled). Debenture holders then received deeply discounted shares as part of a settlement agreement, far in excess of the original terms, and promptly dumped them on to the market.
Scare tactic? What do I have to gain from that? Do you think I get some kind of pleasure because this stock is in the toilet and George has ripped you honest folks off (again)?
The FBI investigation may or may not be limited to one company. My guess is that it involve every company that financed via fake prearranged defaulted debentures and Solarbrook is one of those companies.
Just kidding :)
Which one is the treated one?
Supermonstermegaspectacularstock was an optimistic view.
Most things that look like a turd are actually a turd.
tattoo
It means that if you are holding shares it will become very cumbersome and expensive to trade them. Volume will dry up to almost nothing. Shareholders are screwed IMO.
Very doubtful that NSS is an issue here.
I believe it is a total scam, just another ATM for the unscrupulous.
All just my opinion of course.
I do not understand your question? Do you mean explanation?
If you do the article and link explains it all.
Green Globe shareholders are well and truly screwed.
Wick
Green Globe have been exited from the DTCC CNS system.
http://www.dtcc.com/downloads/legal/imp_notices/2011/nscc/a7231.pdf
This makes it nigh on impossible to trade this for profit as it is cost restrictive at the current PPS. Unless they become fully reporting they are toast. IMO
Speaking of DTC eligible, those companies that have lost DTC eligibility are going to get weeded out too. Why?
Stocks that are not DTC eligible run a strong risk of having trading of their stock suspended by trading firms because of the expensive administrative nightmare it causes. What makes this even more painful is if the stock suddenly gets good volume. That volume will dry up as trading firms suspend trading in that security.
When a stock is not DTC eligible, all the week’s trades have to be settled through PAPER CERTIFICATES; it is expensive and time consuming and most trading firms do not have adequate resources to handle this especially on high volume stocks. To compound the problem, the traders of that stock receive an unpleasant statement the following month because the costs of the administration of non-DTC eligible stocks are passed on to the people who bought and sold the security. This can amount to several hundred dollars for each trader/investor.
If a stock is DTC eligible all transactions are handled automatically and electronically.
More on DTC eligibility…
One of the best ways to lose DTC eligibility is to register stock in any other form than an S-1. Many Pink Sheet and OTCBB companies are still doing things like 504s which is severely frowned upon by the DTC.
Many companies that have done a reverse split over the last year or so have had their stock “chilled” (non-DTC eligible) by the DTC. The reason they are getting chilled is because right after the reverse split takes place, the company registers more shares (usually through a 504) for sale. This pisses the DTC off and they chill the stock and no matter how many resources the affected company throws at the DTC, they continue to be chilled and the DTC becomes less responsive.
So the conclusion I have drawn is simple:
If you want the stock of your company to keep trading, become a fully reporting company and register new stock the way the DTC wants it done.
While these issues have caused much grief lately, I think for the marketplace overall it is going to be of great benefit to both the surviving companies, investors and traders.
We all know that many if not most of the Pink Sheet and some OTCBB companies out there are nothing more than ATM machines for the management team and their “investors”. Those companies that have no money and no business will be left in “no man’s land”. Those companies that do clean up their act and become transparent will stand a much better chance of succeeding in business and in the marketplace. The pool of investors and traders will remain the same or grow while the companies to select from will be far fewer in number.
There will always be sub dime and sub penny stocks to trade and invest in, there will just be fewer and the companies will be more transparent.
http://www.hotstockchat.com/micro-cap-stock-crisis-and-what-you-can-to-avoid-it/
An looming SEC action is a conclusion I have arrived based on my somewhat extensive knowledge of the gang of "alleged" crooks who are involved with SLRW. I will be more surprised if it does not happen than if it does. Dilution is not illegal but issuing false and misleading press releases, to facilitate the extraction of peoples personal wealth, is.
CSJ
At what point do you stop defending the roach "George Moore"?
Well I should think it must be at least 850 million or very close to that figure, otherwise why increase the A/S?
Authorized shares now up to 980 million.
http://www.secretary.state.nc.us/corporations/Filings.aspx?PItemId=4831762
All information is pointing to that conclusion. No links, no proof just an opinion.
Besides, I have an annoying habit of calling it correctly on SLRW. Not meaning to be cocky.
SFIO were exited at close of business on 1st July, on this day there were 182 million shares traded and the close price was $0.02.
Since that day the stock has very rarely traded above 1 million shares on any given day and the price is now $0.0051.
So call it what you like, its not good news.
So it looks like this Global lockdown is going to be quickly followed by an SEC action of some description. These are serious complaints on other companies, do not kid yourself, SLRW is dead in the water.
The only reason that this is not at $0.0001 right now is because the Feds halted the dilution machine - IMO of course.
Expect more lockdowns on Peacock / Gemini stocks in the next few weeks. Karma is a biatch.
Its been a long road, we will get him in the end.
Allegedly, yes.
Something is shaking down, all of Peacocks stocks are hitting no bid one by one. The hammer is falling, the Feds are closing in.
IMO
Not quite true, he has successfully made lots of money by selling tons of shares at deeply discounted rates on various companies. Most of this money is more than likely sitting offshore in the Turks and Caicos. Also he has successfully produced thousands of vague press releases with obscure hints about future success to facilitate the sale of said shares.
I suspect that all the delays may have something to do with this related case:
http://www.sec.gov/Archives/edgar/data/1110737/000102317511000374/fbi_investigation8keditedsb7.htm
What a shame, just goes to show.
"Don't s**t on your shareholders"
There is absolutely no interest in this stock, that is why the bid is thin, the bagholders cannot be bothered to sell and only nutters from Belgium are buying.
Facts
Moore announced share retirement last year and since then has increased the A/S by 250 million
Moore announced Financials would be out very soon nearly 9 months ago!
This company has been popped by the SEC in the past for issuing False and misleading press releases.
Shane Traveller who used to be a director of this company is currently serving a 5 year penny stock bar.
Gemini Financial Miscommunication have represented a whole host of penny stock companies like this one and guess what? They all have ended up a $0.0001 and then performed a reverse split.
$0.0001 and no bid by 30th September 2011 unless there is another reverse split.
Wow, I have not looked at this board for a while.
Looks like a rinse and repeat cycle.
Lets call them "Wildly optimistic claims to facilitate the transfer of funds from the gullible to the petty criminal"
They are stuck, no interest left in unfulfilled promises
I think they have delayed posting the financials because a) They don't really give a rats azz about shareholders and b) Because they cannot get them to balance.
All IMO