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UPDVE in No Problems:
Sorry to pop your bubble, but old news Rudy. Get with the program! Some of us here may have been born at night ... but not last night.
Well if HTOG owes UPDV $7M, I bet UPDV will convert HTOG's debt back into UPDV's majority ownership of HTOG. Or, UPDVE can call that due and use the proceeds for another acquisition. UPDV's $7M asset isn't just going to go away.
On another front, Continental is growing revenues very rapidly now that UPDV took it under it's wing, and earnings will follow.
My opinions.
Wrong. It appears that a lot of folks here can cast that stone. Now whether or not they have the right to, that's another subject.
Sorry for replying to these old posts, but I'm a little behind keeping up with this board. You guys and gals are just too fast for me!
Go FFGO BTW!
Thanks Curly. I intend to enjoy dinner with my lovely wife. In regards to UPDVE, these daily ups and downs a few tenths or hundredths of a penny are a moot point. In my opinion anything bought under 5 cents a share will look cheap within a year or so. I'm looking forward to the day when the ticks are in pennies, then nickels. That may take a few years, but what the hey? Time flies when you're having fun.
I have over 20 grand tied up in this but I'm willing to risk it all for the potential return. The way I look at it, what's losing 20 thousand bucks when the value of my home blew off 60 thousand over the past 12 months. 20 grand is just 4 months of depreciation LOL. At least I get some pleasure out of playing around with penny stocks. The way I look at it ... spend it while you have it! It's only money and of no value in the next life. And should the wealth transfer from my pocket into someone else's, hopefully the person on the receiving end of that transfer donates some of it to a charity of their choice.
My opinions.
I was just getting ready to modify my order to slap the ask but then saw it fill at .0027! Normally I'm not so lucky. But I thought what the heck, throw another 55 bucks at it to hit the ask, no big deal. But now I can use that $55 to take my wife out for dinner Friday night. It should cover the booze portion of the bill anyway.
Thanks for the fill who ever sold to me. I appreciate it.
Put an order in for 550K shares at .0027. Sell to me.
My ACH'd funds are good to go tomorrow. But don't want to add UPDV in the 3s, at least not until I get to look over the 10Q. I want cheap shares in the 2s at least. If I don't get them I'm OK with that as I still hold close to 4M shares. Pretty comfortable with that amount.
If you think about it, UPDV should also start working on the 3rd quarter 10-Q as that quarter is up in 35 days but not due until 45 days after. But why wait, they know it has to be done so just do it and get it over with. What's the difference filing late or filing on time? It still takes "X" amount of time and if they don't have time now, what makes them think they'll have time later? That said, it's understandable that the subs should get their filings in before the parent company as the parent is the sum of it's parts.
My opinions.
I always sell enough to break even and then some so that I can lock in at least a 30% gain. Then let what's left ride. If the free riding shares go to zero, I still walk away with a minimum 30% gain. Not too shabby considering the overall capitulating stock market.
I disagree. People lose all the time by simply missing out on opportunity. I'm not saying that FFGO is or is not an opportunity to make money, but any stock ... unless you actually participate, you will never lose a dime in it if it tanks but on the flip side you'll never make a dime on it should it skyrocket.
And the bottom line is this: Everyone should look out after THEMSELVES, because it's your money on the line and no one else’s. Just be willing to accept full responsibility for your actions when you make poor decisions. And I said "when" not "if" because poor decisions WILL happen. None of us are right 100% of the time ... and if you are, you just haven't lived long enough.
It's not a mistake. They just have the link up before it's populated with the new data from EDGAR which must be pending. I've seen the same thing happen several times with other stocks that I own. Chances are, the 10Q has been filed with EDGAR by UPDVE but the document isn't EDGARized yet. Usually when the link goes up before the financials are released, the financials follow very shortly ... like later in the same day.
But the first quarter financials have been posted on yahoo for months. This isn't new. Yahoo does not show information for the second quarter ending June 30, 2008 because EDGAR isn't even showing it yet.
I don't even see the 10Q posted to EDGAR yet. What are you looking at. Provide a link.
Your wife thinks everything is OK and so do I. You're only down 15 to 20K if you sell low and “realize” that loss. If you're in at an average cost of .008 then I think you'll be just fine. I also believe that within 12 months this can be trading at well over a nickel.
But look, this is your money and if you can't afford to let it recover (however long that may take) it may be prudent to take some off the table as this may still go lower. No one likes to sell at a loss, but losing 50% is better than losing 80 or 90%, and no one really knows where this stock price will end up. I think it'll go much higher, but my crystal ball doesn't always work.
Something to remember ... both fear and greed (emotions) kills chances of making money in the stock market because it forces a person to do exactly the opposite of what they should be doing. Greed causes a person to lose by not selling on the way up to lock in (and realize) gains because they want MORE! And fear causes a person to sell near bottoms rather than buy like they should be doing (buy low sell high). Only in the stock market do people shy away from bargains or sales, yet when they go shopping for a car or clothing and groceries they won't buy anything unless it's on sale. It's a weird thing, but that's the way our emotions work. It's why I always suggest that a person trades like a robot.
First, stocks are not a good place for capital unless a person can afford to do without it for at least 3 years. If they’re going to need some of that money sooner than that it’s best to keep it in a bank CD where they can preserve it. Second, before a person even buys a stock they should decide at what prices they will sell it. Decide beforehand what gain you want to lock in if the price goes higher, and at what price you want to cut your losses if the price goes lower … and then stay committed to that decision. Doing so will force you to not let your emotions rule in times of extreme volatility.
Best of luck to you.
My opinions.
I think a lot of people confuse legal short selling with illegal naked short selling.
Look at the E as just meaning not in compliance in regards to filing with the SEC. That E will stay on there until they get their 10Q filed. After they file the 10Q the E will come off a few days later. I just hope UPDV's not as late at filing this 10Q as they were back in 2006 when they filed the quarter ending June 30th on November 21st. That was the latest that they ever filed this quarter to my knowledge.
I know nothing, but I "feel" we'll get the 10Q this week yet ... just don't hold me to this LOL!
That said, I'll take a green day however I can get one. It's good for the psyche.
When a company is filing electronically with EDGAR they have until 5:30PM Eastern time to get that current date stamped on the filing. EDGAR filings submitted after 5:30PM will be stamped with the next business date.
Sorry. For the record, when I type UPDV in my post just assume I mean UPDV, UPDVE, or UPDVQ, whichever the case may be. Right now the symbol is still UPDVE. That E will get dropped off a few days after they become current.
In my opinion cloudy filings can be expected when dealing with the BB. I wouldn't necessarily call HTOG's filing cloudy, but maybe confusing ... but what 10Q's aren't?
HTOG falling on about a quarter of a million bucks being traded. UPDV is up but on only about 25 grand, and that can be just one or a few investors who decided to buy. Low dollar volume moves either up or down don't fairly represent market sentiment on a stock. This low volume concerns me more than anything. I don't prefer to be in a stock that is not liquid in it's trading. Too difficult to get in at a good price, and too difficult to sell at a good price as the MM's keep the spread between the bid and ask too wide. However, I will continue to hold all my shares though and still plan on buying more on Wednesday if the share price still warrants it.
Best of luck to us UPDV longs.
I hope you never are tainted Vianna. I have been taken to the cleaners on several occasions while messing around with penny stocks. But I've been dealing with them for over 20 years. They're not all out to get you, but some are. Still waiting on the verdict with FFGO. The PR's and 8K filings have been looking good, but the bottom line is whether or not any of this amounts to us shareholders being able to capitalize. Hopefully Santini comes through ... at least he seems to be determined.
Janice, if you see any 13g filings will you believe them? You don't seem to believe any of the 8K's. But not that I believe much of what I read, see or hear. Just flipping this for some quick bucks and holding a few "just in case".
Keep up the good fight though. I'm 100% behind you in trying to expose the crooks on Wall Street. In my opinion they should all hang. But like my dad always said "If they don't pay for their crimes in this life, they will in the next."
I somewhat agree. People buying shares only for the dividend may get burnt ... or may not. No one really knows 100% as the naysayers are basing their belief that there won't be a dividend based only on the past with this company and maybe their experiences with other pinkies or OTCBBs ... which is prudent.
But, ya never know. That's why I'm holding my free shares and flipping my real money ... playing it safe. If there really is some sort of cash dividend great! If not, no biggie either. I'm leaving the dividends paid in stock out of the equation as from my past experiences dividends paid via restricted shares of another microcap company have never amounted to anything but an obsolete symbol that haunts my ScotTrade account.
My opinions. But for all you true longs best of luck! I really hope that Santini comes through this time. He "seems" hell bent on it anyway!
Are you saying Zecco is very slow? What do you mean by that? Do executions take forever? Please explain as I am looking into them as well. TIA.
Thanks Lawrence ;)
Law suit LMAO! No law saying a company can't file late. And there are risks involved investing in stocks. Especially penny stocks. Stocks go up and they go down. It's called the stock market. People are always in a hurry to point a finger at someone besides themselves. Did someone twist your arm Schnurzel for you to buy this? I bet you weren't bitchin when HTOG was going up almost every day.
Not bashing you or HTOG. In my opinion HTOG is a good company that should prosper one day. I don't currently own HTOG, right now I'm only in UPDV and still waiting for their late filing. But I expected them to file late because they usually do for the most part.
Don't feel like the Lone Ranger slob ;)
Thanks tb. But it's the same in my cash account, they still hold the funds 3 days. I'll add eTrade to the list of brokers to compare. Thanks again.
I use ScotTrade but I also have an old TD Ameritrade account that I opened 4 years ago but never used. ScotTrade puts a 3 business day hold on ACH transfers if purchasing stocks trading under $4.
I'm thinking about transferring my account to Ameritrade because broker fees are less than ScotTrade when trading pennies. I don't think Ameritrade adds that 1/2% commission to the base fee when buying or selling penny stocks like ScotTrade does and that alone could save me several thousand dollars in yearly commissions. Or I may keep ScotTrade for trading stocks other than penny stocks and use another broker for the pennies. I never really had any problems with ScotTrade. But before I do anything I'm going to compare several firms as ScotTrade will charge me a fee if I do decide to transfer to another broker. I'll take a look at Fidelity too, thanks for the info.
Please keep it low boys and girls. My money will be ready Wednesday. Below .002 would be nice.
I pretty much agree especially with your first paragraph. Because of HTOG's dilution UPDV's number of shares no longer qualifies them as a majority shareholder. But I also believe as you that UPDV will convert that $7M owed by HTOG back into a controlling interest. In fact, being as how UPDV is filing their 10Q after HTOG there may already be a mention in UPDV's 10Q that this has already been accomplished. UPDV's 10Q will answer a lot of questions. I'm really looking forward to reading it. And a lot could have happened since the end of June. I'm actually going to be more interested in reading the 3rd and 4th quarter 10Q's because they have so many positive things going on.
My opinions.
I'm waiting to see the current HTOG subsidiary relationship explained from UPDV's perspective in their soon to be released 10Q before I try to make heads or tails of it. Once again, if this is the case it seems to me that this was a material event that should have been disclosed in an 8K filing. Might just be some sort of beneficial creative accounting for tax purposes. We should find out the whole scoop in a few days … hopefully anyway.
To be honest with you, I just skimmed over HTOG's 10Q. Didn't really dig into it like I intend to do with UPDV's. I might go back to HTOG's and see if I can come up with anything else.
The market cap isn't very accurate as we all know that the OS has increased. I'm hoping that they didn't dilute to over 600M shares. I'm prepared for up to 950M shares tops. At the current price of .0025 and 600M shares that's a current market cap of $1.5M. I think UPDV is worth $10M right now, and at 600M shares that translates to about 1.7 cents per share, a nice multiple from the current price.
It's also possible that they're at 950M shares outstanding right now (or a current market cap of $2.4M). Here's my reasoning. Remember after the reverse split the OS dropped to 250M then they quickly increased that to 950M? Well, shortly after the increase to 950M they upped it to 2B shares. I think they upped it from 950M to 2B because they had too. I think they were hoping 950M shares at a penny would be sufficient to service BOTH the Sheridan default and to help with HTOG's aggressive drilling program. But when the share price dropped lower than they anticipated, they were forced to issue more shares. At the lower share price, 950M shares would have only been enough for Sheridan or HTOG, but not both.
The only way that UPDV would currently be UNDER 600M shares would be if they were still in technical default with Sheridan. But who knows, maybe Kamal was able to restructure that loan again to buy him some more time and dilute less. I just don't think that UPDV was able to secure more conventional financing as they were hoping or we would have seen an 8K issued to that effect.
This 10Q will answer a lot of questions and really help in trying to determine what a more reasonable share price should be for UPDV. Just too many unknowns at the present time to fairly value it.
All my opinions.
I hope to pick up more shares of UPDV too. The funds are in the account now but not useable until Wednesday. Wouldn't mind being able to buy in the 2s or lower. My average cost now is high .004s. A nice chunk in the 2s would get that into the upper 3s.
But look, 3s, 7s, penny, it's ALL good! In the not too distant future anything under a nickel will look like a fantastic bargain and render all this a moot point (my opinion).
Hopefully next week will be a better week for UPDV, but if not, no biggie. They'll get some respect eventually, and I plan to be there when it happens. I seldom hold a penny stock more than a few weeks or a couple months, but I plan to stick around with this for as ever long as it takes to reach my profit goals. I refuse NOT to make money on this.
The price goes up, great. I cash out a few to lock in some gains. The price goes lower, great. I buy more.
Best of luck to you and have a great weekend! I intend to ... yeah right! I'll be filling cracks in the driveway and spreading sealer with a squeegee … fun, fun, can't wait.
Now that's a friggin wave! Sunny beach!!!
I never said FFGO is or is not a scam, I couldn't care less actually. I'm just not going to tell everyone to buy just for the dividends as I have my doubts they will pan out as expected by most. If they do, fine, because I'm holding 4M free shares. But I plan to continue flipping the rest as that's where I've been making "real" money that's been going back into my broker account. That's why I call this stock a virtual ATM machine.
On another note, I still have shares of companies that have been sitting in my broker account for several years now with a # symbol next to them. They were spin-offs or dividends paid in stock from other OTCBB and pinkies that never could be traded. But to be fair, I did own a penny stock when it distributed dividends (and this company paid dividends more than once), but they were all paid to me in the form of cash. Cash dividends are always a good thing. But from my past personal experience, dividends paid to me in the form of stock of tiny companies have never amounted to anything. Proof are the obsolete symbols still in my ScotTrade account with a # next to them.
Best of luck to you.
I hate to see anyone lose their hard earned money. But sometimes the best lessons learned are the ones learned the hard way ... they make the most lasting impressions.
Telling newbies not to fall for stock market scams is like telling a teenager to never drink and drive. You can preach to them about all the possible horrible outcomes until you're blue in the face, but what in the hell does Mom and Dad know? They won't believe a word you say until they experience something horrible or negative first hand.
Does that mean we give up warning youngsters? Of course not, but we have to assume that traders and investors here are adults with a thinking head on their shoulders.
Who cares if it is or is not a scam. Most of the people here have been making real money by flipping shares. This stock is a virtual ATM machine and my ScotTrade account proves it.
Keep sitting on the sidelines preaching to the choir as the rest of us continue to rake it in flipping from .0002 to .0006. I couldn't care less about the company itself, though I really do believe that Santini is out to prove something to all the naysayers this time. And if he doesn't so be it, I still made some decent coin. And a lot of us here are holding free shares just in case these divies come to be. I'm not really expecting to see them because they do seem to be too unbelievable, but I'll consider it a bonus if I do.
But I agree, people just buying in now only for the divies ... caveat emptor. But don't ever think that you CAN'T make money trading shares of a boiler room scam operation, because it can be done.