Charting
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You Know it LOL, That CD was eaten up by Smart Money & now the MM's need shares to fill Buy orders!
When you see an Averaged trade. That 2Mil below the bid at 12:31:08 That said "Average" under the "Type" tab in the Time & Sales prints, that's most likely a Buyback trade. It's an average of the Bid Price, the company can only buy up to 25% of the average volume at the average Bid price, so they cannot manipulate the price upwards.
See That 2Mil Average Print @001 BUYBACK POSSIBLY??
PVEC WAY OVERSOLD READY FOR A ROCKET RIDE
SMART MONEY LOADED THE BOAT WITH CHEAPIES UNDER 001
Double Bottom @0008 on the chart RUN OF THE BULLS!
Selling Pressure from CD must be finished now KABOOM!
If Peter were to do an R/S after just PR'ing that there "WOULD NOT BE AN R/S IN THE NEXT 2 YEARS" HE WOULD GET INDICTED ON CRIMINAL CHARGES BY THE SEC FOR OUTRIGHT STOCK MANIPULATION & FRAUD AMONG OTHER VIOLATIONS.
CD stands for "Convertible Debentures" or simply Convertible Debt. When a company borrows money and the repayment is in company stock, most of the time it is a "Toxic Finance" type of a deal. I could write a whole page or two on it, but no time.
If you want I can PM you some links to some info that can explain it for you?
As soon as the selling pressure is gone, after the lunch hour will tell if it's gone or not? I believe if there is a CD that has been converting, they are either finished selling & are out of shares or THEY ARE VERY CLOSE TO BEING FINISHED! It's getting very Jumpy right now.
BOUNCE ON TECHNICAL'S ALONE!!! Regardless of what the company does or doesn't do right now regarding PR's & filings, THIS STOCK IS GOING TO BOUNCE ON TECHNICAL'S ALONE!
THIS IS WAY WAY OVERSOLD & IT SEEMS TO ME THERE MAYBE A CD CONVERTING AND AS SOON AS THEY ARE SOLD OUT IT'S KABOOM FOR THE SHARE PRICE AS SOON AS THE SELLING PRESSURE IS GONE.
IF THE COMPANY GETS IT'S ACT TOGETHER & RELEASES PR'S & FILINGS, THEN EVEN BETTER FOR A RUN-UP, BUT IF NOT, THIS IS STILL GONNA RUN BACK UP ON THE TECHNICAL'S, CHART SHOWS IT'S WAY OVERSOLD!
I think there might be a CD converting but I highly doubt the company is dumping shares, if the company was dumping after releasing the PR's they did, they could easily be charged criminally.
If a CD is converting as soon as the selling pressure is off, it goes back up bigtime.
Stock is severly oversold.
If I wanted to read that I could have looked it up myself and read it, but I don't have the need nor the time. I was merely making a point that share buybacks are prohibited from manipulating the price up or down.
I said that because MFK said that the buyback should be causing the share price to increase.
MFK; Actually the rules regarding buybacks make it so the company cannot manipulate the share price upwards or downwards.
I haven't read the rules on this in a long time, but if memory serves me right, I believe the company cannot buy the opening trade, cannot purchase more than 25% of the average daily volume for something like a few weeks beforehand or something like that, they cannot buyback during the last 30mins, I believe they cannot buy above the highest bid or an average of the bids? I don't remember exactly, but the point is that the company cannot manipulate the price up.
In the long run buybacks can run up the price because the float is getting smaller, so there will be more volatility and less shares available on the open market, but they can't buyback to drive up the pps.
A Thought on the Late Financials.......
Alot of people are spooked by the late financials, and rightfully so, the PPS has taken a hit because of it as well, from shareholders bailing.
I don't believe this is dilution, unless the CEO is outright Lying to everybody (if that's the case he could get indicted and sued). But I really don't believe he's lying or diluting. I do believe that besides retail selling from shareholders bailing, the stock is being massively manipulated downward. BUT...
What "IF" The Financials turn out to be Good? or possibly VERY GOOD? Then what? I'd say IF the financials are good, then they are worth waiting for, and if they are VERY Good, then the PPS won't be a problem, and up we go bigtime! Just a thought.
If I was CEO and was doing a buyback, at this price I'd buy as much as I could, much better than buying at .002 & up!
Imaginary shorts? Read this.......
http://otcshortreport.com/index.php?index=vdsc%5D&action=view#.Uou8WNLrzrQ
Yes but the new shares under the new symbol cannot be issued until the DTC clears the stock, in other words all shares of the former symbol must be surrendered first.
"MUST READ"...THE DTC ACCOUNTS FOR VDSC SHARES AND ALL OLD VDSC SHARES MUST BE SURRENDERED BEFORE THE NEW SHARES OF PVEC CAN BE ISSUED "BUT ONLY WHEN THE SYMBOL IS CHANGED", NOT THE CUSIP CHANGE ALONE.
The cusip change alone would not trigger short covering, Because the DTC would only make all former shares of VDSC accountable before they allow the issue of the new shares of PVEC. They don't do this for a cusip change alone unless the symbol change is done at the exact same time. I believe this is the reason why he waited to change the symbol.
If the cusip and symbol changes are done at different times, Then The DTC does NOT make the change effective on the company shares until the symbol is changed, "NOT WHEN THE CUSIP IS CHANGED" so knowing that the cusip has already been changed is EXCELLENT NEWS!!!
This means that all of the shares under the symbol VDSC MUST BE ACCOUNTED FOR AND SURRENDERED, BEFORE THE NEW SHARES OF PVEC CAN BE ISSUED. And since the cusip was changed, EVERY SHARE THAT WAS BORROWED TO SELL SHORT WITH MUST BE GIVEN BACK BEFORE THE NEW PVEC SHARES CAN BE ISSUED, THIS IS EXCELLENT NEWS!!!
The DTC would not do this when the cusip is changed, unless the symbol was changed at that same time, so since the symbol was NOT CHANGED IN AUG. THERE WAS NO SHORT SQUEEZE BECAUSE THERE WAS NO ACCOUNTING & EXCHANGE OF SHARES UNTIL NOW!!! So yes I believe this was masterfully planned out, in my opinion anyways!!!
Like I said before, I believe Peter is getting some very excellent strategic advice from someone who is a Professional in the Stock Market, possibly someone who worked for a Hedge fund, just judging the way they are doing certain things. This is some aggressive strategic defensive measures to combat the manipulation that's been going on. This is something you don't see much in the Penny markets.
If the CUSIP was being changed as well, then it would be a big deal because there would be a definite short squeeze. I haven't read anything other than the page on otcbb.com about the symbol change, so I don't know for sure if it is just a symbol change and not a CUSIP change?
I doubt if it will trade much at all tomorrow, usually when a symbol change takes place it takes a day or so for the new shares to get into everyones accounts.
I don't think very many traders out there know about this yet? Ihub is only a small fraction of the penny traders out there.
ONE GREAT THING THAT HAPPENED HERE, DURING THE PAST FEW DAYS IS THAT THE PEOPLE WHO GOT SCARED OFF AND BAILED IS BASICALLY GETTING RID OF THE WEAK HANDS!!! Which is another Genius move, like I said Peter is getting Advice FROM A PENNY PRO!
This is his first CEO position of a Penny stock, that being said; Being a rookie is not a bad thing, what I said is that I believe he is getting PROFESSIONAL ADVICE from someone who knows the Penny Markets.
I think that some of the huge blocks we have seen after the close or right before the close are not the company buying back because the company cannot buy back during the last 30mins of the trading day, I bet it might have been short covering? Just a thought.
I'd bet money they are holding off on the PR's until after the symbol change.
If the DTC finds a ton of shorts on this, theres gonna be HELL TO PAY!
Oh Yeah, look at the 25.9Mil that someone bought before lunch? Bet that was a cover right there! Guarantee hedge fund shorters found out about the symbol change before we did.
YOU KNOW IT! A Symbol change means that EVERY SHARE must be accounted for through the DTC if I remember right? It's been a long time since I read the regulations on symbol changes, but the SHORTS USUALLY HAVE TO COVER, RETURN THEIR BORROWED SHARES BEFORE THE SYMBOL CHANGE CAN TAKE EFFECT!!!
At least that's what I believe one of the rules is? Don't quote me 100% on that, but I think thats right? AND "IF" There are NAKED SHORTS out there, the Hedge Funds & Market Makers involved have to get that squared away ASAP!
Like I said before, It's obvious to me that Peter is getting some Professional Advice from someone that knows the Penny Market Games!!! I think it an AWESOME STRATEGIC MOVE to release the info that they did, then making it appear that they are not being straight with eveyone, THEN PULL THE RIPCORD ON A SYMBOL CHANGE! VERY VERY AWESOME STRATEGY! Guarantee we see the fins after this, gonna be fun watching shorty scrambling to cover! lol
Yeah I believe it was supposed to be out by last Fri. but they have a grace period which gives them until this coming Fri I believe, then if they don't get the Q filed they must file an NT-10Q which is a late filing giving them more time.
But don't quote me on the dates here, I haven't done enough DD to be exact on VDSC's date timeline. I read some of their filings, but basically skimmed through most of it just reading the main info, when I have more time I'll be reading them more thoroughly.
IMO it's a good sign a NT-10Q hasn't been filed, that tells me we will prob see the Q before the grace period is up. They could file a NT after all, but he seemed pretty confident they would have the Q out.
Actually I'm not assuming anything, I was just pointing out the fact that he should not be making promises that something will be released by a certain date, like Audited financials, unless his Accounting firm is 110% sure they will have it completed by that date. Making promises like that, and then not meeting his own deadline makes people think negative things, where if he had not given himself a deadline at all, there would not be any talk about it at all.
I was also pointing out the fact that many Rookie CEO's make this same exact mistake. I'm not saying anything bad about Peter V. I am one of the optimistic traders here. Sure he has lots of experience in the Cruise line & Shipping biz, but he has a few things to learn about the Penny markets.
Personally I believe this stock is going to take off bigtime once they get their ducks in a row (so to speak). But we would be better off if he stopped making deadlines for himself when he is not 100% sure he can meet them, ya know what I mean? It's just plain unnecessary to shoot himself in the foot like this.
I heard it too
I know from experience that many times CEO's that are a bit inexperienced running a public company, by that I mean "Rookie CEO's" that are doing this for the first time, can sometimes "Jump the Gun" with things they say will happen by such and such a time, then when unforseen circumstances arise, everyone that was waiting for it feels let down. I know this firsthand having done work for several companies some years ago.
Another problem with Rookie CEO's is the fact that many of them "Have NO IDEA How the Penny Markets Function". The Penny markets are a whole different world from the big board markets, and some of these Rookies think they are the same. It's like someone having "Booksmarts" with no "Streetsmarts".
The CEO of VDSC may have lots of experience in the Cruise & Shipping arena, but it's obvious to me he's a Rookie at the Penny stock markets, it seems he's getting some decent advice in a few areas, but he needs more that's for sure.
A CEO of a Penny stock "SHOULD NEVER EVER PROMISE" things like Audited Financials by a certain date unless the Accounting Firm is 110% sure they can deliver it by that date. I've seen this happen numerous times, where Financials get delayed because the Accounting firm is just plain not finished yet, and the CEO's hands are tied until they finish.
VFIN has to go!
Somebody knows something, I think we see a Shareholder update/PR, the 10Q and other filings soon.
There's been a number of websites having problems today, so it's not just the VDSC: Panamerican Seaways website that's having problems, it's a widespread problem, even my google gmail has been acting funky.
Elcappy1; Nice post, I was going to do this myself, thanks for beating me to it, saved me the trouble LOL.