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At least 1,301 companies have halted trading on mainland Chinese exchanges, locking up $2.6 trillion of shares, or about 40 percent of China’s market capitalization.
First of all, I invest. I don't trade.
I owned NFLX a long time ago and rode from 200 down to 60. I griped, but not paralyzed by fear, and bought hard at 60. Now I just sold most at 500 to 600 range and bought FONU.
I gather I'm the only one on this board that has had an opportunity to meet with Jake.
You can bitch and complain all you want about toxic debt, convertibles and nonsense.
The QB tier is meaningless anyway, made up by OTCmarkets.com to make money off of companies. But yeah, that would be the consequence. Plenty of companies that RS'd, obtained the QB designation, and fell off exist. If it weren't OT I could list a few that are in the triple zero area currently. Takes a little while to lose the designation.
While Curt converted the max he could convert without breaking the 10% threshold, he was unable to sell them due to the restrictive legend. I'm sure that he's trying every legal means to get that restrictive legend lifted.
After a toxic lender has converted, they have no interest in holding for any longer than necessary. They are all competing for buyer $ in the market. The early bird gets the most worms.
Idk if he'll be able to get it lifted, sold, and reloaded before the 30 trading days after June 2 are up. If so, he'll be a very happy man.
He can currently convert around 55 million shares before interest in exchange for his $43k loan. He doesn't want to go over 10% so, he only converted part of it so far. At current prices, they are all potentially worth 1.2 mil. Not a bad trade eh.
Of course, he wouldn't be able to sell them all here. And, he has to get the restrictive legend off with all of them converted and sold fairly quickly. So, he won't see that kind of a payoff. Still, makes for a big number lol. I'm sure that he would love to convert it all and sell out to the willing long term buyers.
Penny stock CEOs promise no more reverse splits frequently. Generally a promise that is eventually rescinded. I'm sure that Jake would love to never do another RS. If people are willing to continually buy shares from toxic lenders, no RS will ever be necessary.
Perhaps the good folks from Savannah will buy shares from toxic lenders forever, I do not know. If I'm a toxic lender, I certainly hope that they do. Easy way to juice returns.
TIER 1:6 Tier Reit Inc. Com
That is merely because the shares are not free trading yet.
A short term trade ahead of the deluge could work though.
The convertible debt holders are already converting and, converting early. That means that FONU already defaulted due to some terms in the note agreements. We have no idea what those terms were. The amount of new shares coming to market as soon as they can become free trading could vary from hundreds of millions to billions. And, that only pays for what has already been spent.
Why anyone wanting to hold long term would buy ahead of that, I have no idea. The damage is already done.
The bills are coming due.
ENCR 1:50 Ener-Core, Inc Common Stock
If any OTC stock deserves to be on a never play again list, it does.
WWIO 1:1300 Wowio Inc Common Stock
I hope that the nice headline makes FONU shareholders feel all warm and cozy.
I wonder if the Effingham County Commissioners will finally see through Jake & Company?
SCGX 1:10 Saxon Capital Group Inc. Common Stock
BRTX 1:20 BioRestorative Therapies, Inc. Common Stock
Thanks. At least they all crossed the finish line.
Unfortunately it barely helped me due to the great picking of those above me.
That was the ultimate safety test for sure. A few years ago it would have ended very badly for Austin.
The fence looked stretched to the max on replay. Almost looked like it could have gone really bad for the fans.
Amazing.
Maybe I should be blamed too.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113979590
The level of margin lending versus total stock market capitalization in China reached unprecedented levels. Part of the problem right now is that collateral values are falling faster than margin balances.
Soros's theory of reflexivity in fast forward, amazing to watch.
We look at it all incredulously but, if history repeats, the US populace will become afflicted in the same manner again.
Whenever someone says that they are the "Warren Buffett" something, they usually are not.
Probably the most overused prestige enhancing moniker in all of finance.
Ironridge is especially hilarious though. These toxic microcap financiers desperately want to appear like they have the moral high ground.
11 24 48 88 please, thank you.
22 48 88 please, thanks.
MDFI 1:20 Medefile International, Inc. Common Stock
PLKD 1:500 RS tonight.
PLKD 1:500 Pleasant Kids, Inc. Common Stock
ENRG 1:73.2757
Well, if you bought on June 2 a nice run has occurred. Everyone wants to make money off of the next person that they can convince to buy their shares at higher prices from them. That is the whole point of a p&d. Some like to play the game in its purest form, others like to try and "fix" the game by actively luring in buyers.
Maybe you'll get your nice short term run off of .02. I have no idea.
Thus, I was referring to the person saying it was finally a great buy, presumably for a long term hold.
I find it sort of fascinating that there is a desire to play the goodwill of the taxpayers of Effingham County for a short term flip trade. Because, let's not kid ourselves, that is what MDNT was and FONU is all about.
I have absolutely nothing against FONU going up. I have no interest in it going down. Play it to your hearts content but, realize that the board only has a marginal effect on the eventuality of the stock price.
I noticed that other OTC stocks hype up their products, and rarely a negative comment is made, especially when they are on a run. If a naysayer comes along, others quickly say he is trying for cheapies. PR is here several times a day with negativity. Even if the studio opens with all the fanfare, he will be here with negative remarks. That HURTS fonu.
FPET 1:2.5
BCYP 1:50
DDXS 1:15
PTRA 1:2.5
It isn't particularly beneficial to believe that the stock is tied to the marginal health of the business at this point. The seeds have been sown, tremendous share dilution is coming.
Jake will ride this train as far as it takes him. Presumably, he'll then try to hop on another.
How is that guy even still around? Seriously, what is his claim to fame? Besides being primarily responsible for huge losses incurred by his unfortunate followers of course.
CBSJ 1:2 Creative Beauty Supply of New Jersey Corporation Common Stock
AJGH 1:1500 AJ Greentech Holdings Ltd. Common Stock
FTTN 1:100 First Titan Corp. Common Stock
GERS 1:100 Greenshift Corporation. Common Stock
Wow, he got off lightly.
Then again, maybe it was the proper sentence given his situation.
4 24 41 47 please, thanks.