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.
delphi, I got it from the company.
Looks like it took a little longer than I thought, but we're headed back to .0025. I hope you guys are getting out here and above .0065
looks like this latest pump and dump is over, .005's here we come, on our way back to .0025
The float is supposed to be 4 million shares.
lets hope so, I bought another 100,000 at .025. I am in 400k at .042 average. I hear they are getting audited to get on the BB
LFMI up 80%. first day up!
LFMI up 80%. first day up!
Greedyfox, Just bought another 160,000 at .035. have 300,000 now, hope something comes of it!
Is there anyone who agrees that if this stock hits .0049 again, then the takeover is done??? What price on the downside will tell you that your hopes are in vain?
Looks like its topped out again. This time at .006 instead of .011 like last time. I am looking for lower prices toward .002 after this pump ends.
Someone here is trying to sneak out and not tell you guys.
So much for the pump here comes the dump
it will be a reverse merger and reverse split. Poor attempt at one last pump before this one drops back to .0025
LFMI has a market cap of $1.5 million. Is that what you are referring to? The float is 4 million shares.
lovinlife, where did you get your revenue estimates for the film?
Greedyfox are you in this one?
Nothing special about yesterdays close. At the end of the day market makers pulled back a bit into the close to create some buying.
The offers will be back in the low .004 for the opening today.
Fancy seeing a few of you here. I like this one and bought 140,000 today at an average of .061. I stpoke to the president the other day and liked what I heard. Just recently came public from Nuoasis garbage from the year 2000 bust.
Waggett, a reverse merger is when a private company takes over, acquires a public company, but instead of paying the shareholders cash, the public company issues the private company new shares of the public company in an amount equal to the purchase price. In virtually 100% of the cases, the private company getting new shares in an amount that dwarfs the amount of public shares outstanding. This is because the private company usually gets about 90% + of the equity in the new combined company. Because this would usually result in an astronomical number of shares outstanding, there is usually a reverse split at the same time of the reverse merger. For example, perhaps 10-1 reverse, meaning, if you have 100,000 shares now, you'll have 10,000 afterward. Contrary to popular belief, on penny stocks, this drop in the number shares you own is not offset by an equial 10-1 rise in the stock price as would be expected on large exchanges. It usually results in a virtual wipe out of current equity holders.
Anyone care to add to this or correct me?
Correct. There is no other reason to gag the transfer agent. And, the transfer agent has told me directly the company asked them not to give out any information. It is the company who gagged them.
Its like a chess game. Alex Russianoff is clearly winning. The stock price is screaming at the longs and they ignore.
We go lower. I am looking for .002 before I play. And my play will only be .002 to .003 for some flippers. My previous price of enter desire of .0025 is too high because 1) the stock is taking too long to drop and 2) its too risky getting caught long in reverse merger news. Its going to go even lower than I thought.
Waggett, those in the know would say that either 1) there is no buyout or 2) if there is, its a reverse merger (preceeded by a reverse split). I suspect the selling is the company and/or insiders. My own feeling is that the filing to the SEC, while probably legitimate on the surface and legally, was done with the true intent to pump the stock up breifly for insiders and the company to dump stock on the market. I feel that all the volume on the stock, about 50 million a day, since the spike is either 1) market makers naked short selling because they know nothing is going to come of it, or 2) the company and/or insiders selling new dilution to the current holders.
No such thing as quiet period in this regard.
Honda, do you see the difference between you and I now? In order to make money in pennies you must know the shot. This is why I know the stocks next move is lower and you will lose more money hoping its next move is higher.
Honda... do more due diligence
pinksheetstocks.net is owned by Harold Engel Jr. paid stock promotor.
You can find about more about this guys past stocks and their fraud at
http://www.sec.gov/litigation/admin/33-8311.htm
Yes, let us attach our carts to this guys horse. He'll drive you into the lava.
Volume has really dried up over the past 4 days as the price has trickled down toward .004. I do not think volume will stay this low much longer. If the insiders and market makers cannot sell much stock anymore at these levels, I am looking for them to push it to the mid to low .003s to find the new levels of buyers (TAKI).
mypointz you just don't get it do you? The float would not be 36 million. You have to add the 90% of shares that the Russians get, that is another 350 million. Hence the float goes back to 400 million and GBDX shareholders only have the equivilent of 36 million shares when they have 365 million now. It means your investment would be worth 1/10th of what it is now.
In addition, what do you think happens next? I'll tell you. The Russians start dilution again just as in all pennies and bring the share count toward 1 billion. Either way, an investment in GBDX under a reverse merger scenario wipes out common shareholders. Your investment goes to $0 (zero) And I feel there is a 97% chance for a reverse merger versus 3% chance for cash buyout if a transaction occurs.
Ironically you will all be better off if the Russians walk away. At least you won't lose anymore money.
mypointz are you aware that a reverse merger would destroy 90% of the equity here? If this stock is trading a .004 now, it would be trading at the equivalent of .0004 after. That is because in a reverse merger the buyer (the private company) gets about 90-95% of the new combined company. That would mean that if there are 365 million shares now (and I feel there are many more) then the new combined company would have approximately 4 billion shares. The new owners will not want that. They will expect the company to do a reverse split, prorbably 1 for 10, making current shares outstanding of the GBDX equity go to 36.5 million and the total shares post merger of about 400 million. This would put everthing back to where it is now, except for one thing. You would have 1/10th of the shares you have now and the new owners, the Russians would have 90% of the shares.
If I am right and Alex protects himself by giving himself more shares, then this is upward to a billion shares now, which would put the reverse split at more like 1 for 30. That would make an investment here at .004 worth about .00012 afterward, or to make it easier, $ZERO
It looks like we are about to go into the .003s.
Bulldog and Negger. Come on guys. There is only one reason the TA is not being responsive to your calls. D-I-L-U-T-I-O-N
Looks like some of you are finally starting to come around and see the truth behind this stock.
I am NO basher!! I am the only one here giving objective view of the truth of what is happneing here. Think about it.
Oh boy I just called the transfer agent and she said..
"The company has asked us not to give out that information as they are in the process of filing papers"
If the papers were in regard to a cash buyout, there wouldn't be any need to hide the number of shares outstanding.
If the papers were in regard to a reverse merger, there wouldn't be any need to hide the number of shares outstanding.
If the papers were in regard to diluting out the poor shareholders, there would be good reason to hide the number of shares outstanding.
We are about to enter a new range starting tommorow morning. .002-.004 which should hold for a while. I'll be looking to purchase some flippers below .0025 to trade out over .003.
My concern however is the reverse split that would come in front of a reverse merger. That would wipe out most of the equity and transfer it to the new owners. That would not be good.
Next stop .003
Weakness is taking over. These MM will bugger this one lower on no volume now.
Those who are true beleivers in this company being acquired must either be 1) in denial or 2) must realize that the likelihood is around 97% for a reverse merger (preceeded by reverse split) and 3% cash buyout.
I put the fact of any aquisition at all being completed at about 20%. Therefore the likelyhood of a cash buyout is about 3% times 20% or .6% (that is 6 tenths of 1%).
You are correct, I would consider purchasing GBDX at .002 for a quick flip to .003. That is all.
davidam, lack of volume in pink sheets stocks is deadly for longs. You should know that. Pinks need constant volume to keep levitated. As soon as volume dries up, market makers drop the boom because its easy to push it lower. Market Makers are always on the OPPOSITE side of individuals trades. If individuals want the stock higher, the MM have incentive to see the stock lower. In the end MM win.
The only friend an individual investor has in GBDX is large volume purchasing. Unfortunately, the only volume GBDX has seen by the buyers has been overwhelmed by sellers. GBDX is going lower.
Stock looks weak this morning. There is absolutely no volume at all. The only volume I see coming into it at this point is selling. I'm sticking with .0025 next stop.
The reason its been quiet is because the company is diluting current shareholders by selling mountains of stock. Expect clarity and press releases as soon as the dilution is over. Until then we will all remain in the dark as to how many shares are outstanding.