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A "Reverse Merger" which is what is most likely going on here, is a way for a Company to go Public, without going through all the Paperwork and Redtape/Expense of doing an IPO. A much cheaper easier way to go about it which is why many companies will buy a shell stock and Reverse Merge into it, then change the company name, CUSIP and symbol.
I've been involved in the Music Business for over 25 years Professionally, and it seems to me that there is a lot of "GUESSTIMATING" going on here about how RTG is doing this and that. Now just how can "ANYONE" who is not an INSIDER think that they Know what is going on with the Merger Deal when the Company is under a "NDA" for starters, and if they were to tell anyone how the Deal is going to be Structured BEFORE it is complete, would be giving out "INSIDER INFO" and I know everyone of you guys that trade Full-Time, Part-Time, Professionally-(Semi-Pro), all know that the company is not going to give out insider info to anyone, even to the IR Guy!
What I'm saying is this; Go ahead and "GUESS" all you guys want to, but "NOBODY CAN CLAIM THAT THEY KNOW EXACTLY WHAT THE DEAL IS UNTIL IT'S COMPLETED AND UNVEILED" in a SEC Filing and a PR!!!
I don't care how long someone has been trading and how many Reverse Mergers they've seen, "IT DOESN'T MATTER"! WE ARE ALL IN THE DARK UNTIL THEY SIGN A COMPLETED DEAL AND RELEASE THE FACTS & FIGURES! Until then I think it would do everyone a He11 of a lot of good for certain posters to just "COOL THEIR JETS", Take a Valium or have a Stiff Drink and Chill-out, because all this Ranting isn't going to Solve One Dam thing, except get people stirred up, and cause a bunch of Strife for nothing.
Personally, I like what RTG is trying to do here and being in the Music Biz I appreciate what they are trying to pull off, this is a High-Risk Play here, and I'm betting that those of us who hold-on to our shares are gonna be greatly rewarded, that's my opinion. If you don't agree, oh well, but why argue about it?
MM's have been doing that for Month's on this one.
Need to get rid of the Bidwhackers before this moves up.
hat12trick; Did you notice this (pasted below), that was also in the article;
"Capturing a live performance on-site, using an innovative recording process and seasoned team of sound engineers from live powerhouse Aderra, the Ovation crew can produce a studio-quality live album available for purchase from the Ovation Towers before, during or after the performance".
Read more here: http://www.sunherald.com/2012/05/16/3951111/migratory-music-launches-digital.html#storylink=cpy
hat12trick; One thing you forgot to mention is the fact that with this Merger is coming a Name/Symbol change, and when that happens, all the "Shorting against the Box" that was done by the Toxic Financier beginning back in Aug.-Sept. when the note became due,
(They always massively short-sell first before getting their shares issued to them, the Lower the share price the more shares they are Issued).
Anyways, all this short-selling against their own position-(note/convertible debt)
"ALL SHORTS MUST BE COVERED" Before the Name/Symbol change takes place! This could be Huge? Which is why I believe they took it down last week, trying to shake Longs out with Panic Selling, and just at the right time as well, ("Sell in May & Go Away" anyone heard that before? Seems like a Perfect Time for a "Shake of the Longs" to me.)
RE;
RTGV - A few things to look forward to near term...
-Customer facing Pulse Station site going live by sometime next week.
-Further details toward executing merger with BrandEntertain and Share Purchase Agreement.
-New company name and trading symbol.
-Opening 2nd U.S. office in New York in June.
-Additional details on ("vertical integration") future projects and branding opportunities with partner companies.
-Future launch of Fan App.
You said 001 I believe, & the 0014 you're bragging about "HAD ONE SINGLE TRADE AT 0014" & That's all! I have the T&S From 5-10 to prove it. One single trade hardly qualifies for "Trading at 0014".
Volume: 7.58 m 1:45 PM EDT May 10, 2012
Time & Sales
Price Size Exch Time
$0.0018 100,000 OTO 13:45:46
$0.0015 270,000 OTO 13:14:55
$0.0015 649,850 OTO 13:14:30
$0.0016 30,000 OTO 12:44:23
$0.0014 400,800 OTO 12:27:33
$0.0015 125,000 OTO 12:27:22
$0.0016 130,000 OTO 12:19:33
$0.0016 170,632 OTO 12:18:50
$0.0016 329,368 OTO 12:18:43
$0.0016 870,000 OTO 12:01:36
$0.0018 40,000 OTO 11:47:46
$0.0018 50,000 OTO 11:17:33
$0.0017 79,000 OTO 10:46:54
$0.0017 80,000 OTO 10:44:05
$0.0015 238,000 OTO 10:35:57
$0.0015 176,890 OTO 10:35:09
$0.0015 75,000 OTO 10:25:07
$0.0015 510,335 OTO 10:23:12
$0.0015 70,000 OTO 10:20:16
$0.0015 89,665 OTO 10:19:54
$0.0015 720,000 OTO 10:11:25
$0.0015 52,001 OTO 10:05:36
$0.0015 835,999 OTO 10:05:35
$0.0015 124,000 OTO 10:02:14
$0.0015 300,000 OTO 10:00:56
$0.0015 1,000,000 OTO 09:31:58
$0.0015 65,000 OTO 09:30:03
GM_Tech; You can always tell the ones who sold-out on the last dip (when the short tries to take out longs), they suddenly turn from "Optimist's" into "Pessimist's" LOL!
hendersj31; Did you bother to look at the chart yourself? Or just take someones word for it? The chart is FAR from Overbought, if you notice the person posting it claimed it from a "60 minute chart", NOT a daily.
It was already mentioned the chart shows overbought. This is what happens unless there is news.
This stock is FAR FROM OVERBOUGHT! RSI is not showing an overbought indication.
gold56; There's the possibility that there was short-covering from the shorts that took us down into the 001's. I'm not saying thats what happened here, but it's a possibility? They short it down to get longs to bail, looking for shares because they are already short & need to cover so why not take it down further? See how many longs will bail?? Makes ya wonder?
Three; The type of buying you're referring to is what usually happens when things get very close to completion and those who are close to the inner circle of people either working on the deal or are involved somehow and a "Friend of a Friend of a Friend" tells someone to "Buy this certain stock" (but may or may not say why or something like that), but word spreads to people who know someone and buying starts trickling in, seemingly out of nowhere, and next thing you know, news comes out that everyone has been waiting for. Seen this happen a thousand times, which is why I just put my shares on the shelf with sell orders in starting at .015 to .10 and I accumulate everytime it dips. You have to keep your emotions out of Gambles like this and a person must be strong in the patience area to be able to hold through the manipulation phases.
Reading through some posts it seems like theres a bit of "Sellers Remorse" from those who got sucked into the strategy of the Toxic Assistants and Bailed on the Dip we just had, instead of "GOBBLING UP THE CHEAPIES" on the (IMO) Golden Opportunity to accumulate some cheap shares.
In case some have never read this before (an excerpt Copied from a write-up by a former Professional that worked in the Market Making and Hedge fund investment field).
(Step 3 & 4 is where things have been for the past several weeks and where it seems some former Longs Bailed in this latest dip during the past week).
The tricks of the common MM are plenty and step 1 is only the begining my impatient friends. Here's how it works in a nutshell, this is common practice so many reading this have probably seen it happen before.
Step #1. Is to drive the price down causing confusion as well as setting off an accumulation by investors.
Step #2. Is to make the price fall a little more causing panic selling.
Step #3. Trade it sideways for a while to get shares back from impatient investors that were looking for the quick buck.
Step #4. Drop the price slightly again to set off a little panic in the longs that just watched the stagnant market for a while.
(Step 3 and 4 is when there will be MM accumulation)
Step #5. Run the price up and unload the inventory at a premium and start the whole process over.
The PR that RTGV put out concerning the Convertible Debt (that sank the share price from Sept. to Feb.) PR'd back on Feb. 21st of this year, I think that Linda Perry has some explaining to do.
In reply to the post by otterman;
Ya know, I posted something that dealt with this exact same thing. The majority of the CEO's of Small/Micro-cap companies that are publicly traded on the OTC "DON'T HAVE A CLUE ABOUT THE MARKET THEIR COMPANY STOCK IS TRADED IN"! LOL
#1. Linda Perry blaming "Flippers"= (Traders Flipping RTG Stock), If she really believes what she is saying, then she needs a REAL WAKE-UP CALL! "Flipping", Swing trading, and all the various trading methods of turning a profit that us "Retail Traders" use on Penny stocks, "IS A WAY OF LIFE ON THE OTC"!!! This is the problem with so many CEO's and BOD's of Penny stock companies, they "CANNOT RELATE TO THE MAJORITY OF THEIR INVESTORS"! Flipping Penny stocks is the "Bread and Butter" (so to speak), the Livelyhood of most of the Successful traders that turn a profit on the OTC. The very fact that they "Don't Get It" is their Downfall.
#2. TOXIC FINANCING! There's that so familiar phrase I use in so many of my posts. Why? Because it is so common in OTC stocks. I believe that the Majority of Penny stock CEO's and board members Do NOT really understand what happens to their stock when they sign a Loan Agreement with a firm that is for Convertible Debentures as the form of repayment & interest, or any of the various types of Loans deals along the same line, PIPE deal, SEDA deal, ect.
The practice that is very common among the firms that fund small/micro-caps with these types of deals, BUT is widely UNKNOWN to the CEO's and Board members of the companies that get suckered into one of these TOXIC Deals, is the Practice of "MASSIVELY SHORT-SELLING" Their Client, dropping the share price considerably (usually over several months) BEFORE They are due to get stock issued to them for repayment on the loan agreement. This way when the time comes to get shares of stock issued to them which is "ALWAYS" Based on the AVERAGED Share Price (usually a 7-14 day Price average before issuance), instead of getting the amount of shares they would Normally get if the stock had not been short-sold into the ground, they get a Massive Quantity of stock.
The Math is easy, if the share price average was .01 when they signed the deal (say $100K to be simple), but short-sold down to .001 when the note is Due for Stock Issuance & Conversion, well $100K of stock @.01 is 10MIL Shares, but @.001 it's 100MIL Shares, thus the REAL REASON Many Companies are FORCED Into Increasing their A/S (Authorized Shares). Like RTGV just recently did.
I THINK LINDA PERRY & BOARD NEEDS TO COME CLEAN, AND UPDATE US ON THE STATUS OF THE "6 MONTH WINDOW" THEY PR'D ON FEB. 21ST 2012. It sure seems to me that the Holder of the Note has NOT Been keeping their end of the Agreement and has been Converting, "DILUTING", Selling New Shares. We Know the O/S Keeps Going UP! So where are all these New Shares Coming from? WHY??
Below is a Copy of the Feb. PR.
February 21, 2012 - 10:30 AM EST
RTG Ventures Restructuring Debt With 6-Month Window
NEW YORK, Feb. 21, 2012 /PRNewswire/ -- The Board of Directors of RTG Ventures (OTCQB:RTGV) has been in negotiations to restructure its remaining short-term debt subject to equity conversion to ensure a six-month hiatus from the debt conversion which has been taking place since mid-September. The new contractual terms will contain that provision. The Company's intent is to pay the debt in full, in cash, on or before the six-months forward due date. This intended action replicates the Company's strategy as one of the short-term financing tactics utilized during its first year of operation. In fact, payment of RTG's first six-month debenture incurred in September, 2010, and was fully repaid in cash in March, 2011.
The new arrangement is a milestone for RTG, as it was the last vestige of the "perfect storm" which took place early last Fall and which the Company had no ability to control or stop at the time. For the benefit of new investors, a bit of historic perspective: In August, the Company embarked upon the first leg of an Awareness Program which ran for the month with the anticipation that CloudChannelLive would be ready to launch coincident with a celebrity endorsement and long-term financing. The Awareness Program was undertaken as part of a long term campaign intended to broaden the shareholder group to include more value-based, long-term investors. An Awareness Program was selected as a better option than a Share Buyback Program considered earlier as its impact would be more positive and longer lasting. The strategy was well-thought-out but unforeseen delays took place with the outsourced technology development, the result of which required the Board to totally reassess the way forward. A decision was made to focus on Digital Clarity, which emerged from the first year of operations as cash flow-positive, to include new, short-term revenue generation concurrent with bringing all technology development in-house under the aegis of Reggie James and his technology team.
Therefore, in the space of a week, the CEO left the Company, the product was delayed and being reassessed in-house, the long-term funding was no longer available, and the second in a series of five convertible debentures was due. For the next five months, until now, the Company has been positioning itself to build on the formidable presence of Digital Clarity and create a streamlined version of the Cloud Channel proposition, while identifying pragmatic revenue streams, with technology development around the core and vision of Pulse Station. Pulse Station will incorporate aspects of Cloud Channel while enhancing Digital Clarity's offering in social media. Potential partners and clients to whom the "pivoted" product was discussed last November saw Digital Clarity as being First Mover with a differentiating product and services offering. In a recent New York Times article entitled "In Tech, Starting Up By Failing," the comment was made: "To pivot is, essentially, to fail gracefully. While the term has been in the start-up lexicon for decades, it is coming up more often in the current internet boom, as entrepreneurs find that many investors are willing to keep the money flowing even if a start-up takes a hard left turn. 'Ideas are like lightning in a bottle; if a company is small enough and didn't capture lightning on the first try, it makes sense to try again. The art of the pivot is to do it fast and early. The older and bigger the business, the harder it is to change direction.' --comments from one of the founders of formidable venture capital firm Andreessen Horowitz." It has been a painful, but enlightening journey. RTG's Board is counting on a bright future; however, because structurally, RTG now has a very low debt position, with only friendly financing in place and business-wise, it is now in the right place at the right time.
Now that the restructuring of debt is in hand, James and Perry are prepared to begin to release additional internal and external developments through press releases over the next few days and weeks.
There is no way you or (anyone else for that matter) can do a fair comparison between stocks like Berkshire and RTG, that's just plain ridiculous! LOL. That's like comparing a $300 Grand Ferrari with a $50 70's Chevette, "THERE IS NO COMPARISON"!
And to just touch on the subject of "Manipulation", anyone who doesn't believe that it goes on is in LALA Land. This is why you cannot do a fair comparison with stocks like Berkshire or any other stock that trades on any of the Major Exchanges, those are the stocks that the SEC Does Actually Police and Enforce the rules of the game. It's the OTC stocks that get overlooked Bigtime, the SEC does not have anywheres near the Staff/Manpower to police the OTC, sure since 2008 there has been more crackdowns and more enforcement going on, but there is an awful lot of crap that goes on that Hedge funds (& Offshore Hedge funds) Brokers & MM's get away with that it would boggle your minds if you were to actually do some research on the subject. I know about this because it's something that I have studied for years and I read up on it weekly (sometimes daily).
Lastly I want to say here concerning RTGV, to put things into perspective, there's no way that I will sit here and try and blame the current share price totally on the Manipulation of a Hedge fund, I certainly hope that anyone who reads my posts doesn't think that I'm saying anything even close to that? Because I'm not! RTGV's share price is down in the sub's because of "DILUTION" from the Toxic loan that the CEO and board is 100% responsible for! That along with not having any Revenue streams of any size that is going to make a difference.
This stock has been trading like a shell for a while now, as far as I can see they are barely afloat financially, and unless this Merger deal gets completed and they do something to bring Revenue into the company and bring some Real Intrinsic Value to the stock, it's going to continue to trade like this. But don't be fooled, this stock has been and is being manipulated as well, I can boldly say this for certain and you can take this statement to the Bank
"The Toxic Financier that RTG is indebted to ultimately would love RTG to go Bankrupt" that is the dirty word they never talk about, because if they can drive a company into BK then they never have to cover any of the short-sells that they use to drive down a stocks price before they begin conversion, the bottom line with this practice is;
"The lower the share price the more shares they are able to get" and then they hope the company goes BK so they never have to cover.
But like I already said, this is not the only reason for RTGV's pathetic share price, "NO Revenue" (or barley any) in combination with the Dilution (which is a total Turn-off for New Investors) and the short-selling manipulation, is why we are down in the gutter. It's a combination of these things, NOT Manipulation Alone.
I know there are people that have been employed by short-sellers (Hedge Funds, ect. ect.) to bash & trash talk stocks to attempt to keep new traders/investors from buying in, and current shareholders to bail, but it's the ones who are "Not Employed" to do this, and "DO IT ANYWAYS"! That's what doesn't make any sense to me?
Sure RTGV is a High Risk/High Reward Investment, and if anyone loses out here, of course nobody is ever happy with that, but "We are Supposed to Know & Understand" this risk going in. Only Beginners/Novices are the ones who are Not supposed to understand/know this, but to see experienced traders get all bent is another thing entirely. Penny stocks are one of the highest risk investments there is, next to going to a Casino, so if someone is Investing Money that they CANNOT AFFORD TO LOSE on a Penny stock such as RTGV, then the same people need to learn to "Live with their Choice that they Made". Nobody forced anyone to buy or "Hold" for that matter, it's all a persons choice.
Three; No offense meant, but as good of a trader as I know you are, there are prob several dozen Penny stocks that you could flip daily/weekly and make 10 times your loss back on RTG, I highly doubt that you "put all your eggs in one basket" here?
Also, when the Name & Symbol change takes place and all these shorts have to cover first, what do you think is going to happen as far as the PPS is concerned (in your opinion)?
They just PR'd a Company Name & Symbol change last month, all this manipulated short-selling "Has to Cover" beforehand, I believe thats why they are driving so hard to take it down, (in my opinion).
williamjf77, And everyone else who has been watching RTG getting Hammered. I believe RTGV is being Manipulated "Bigtime" by the Entity that holds the Toxic Note that was given a 6 month window until they get "Friendly Financing" (as they PR'd it) in place. I reread the PR from Feb 21st about the 6 month window and it looks to me like the holder of the note "Reneged" on the agreement and has been converting anyways, (that or they are Naked Shorting RTG to death?)
This email response from Linda Perry (if it's authentic?) Proves what I have been saying about CEO's of Penny stocks, the Majority of them (Perry included) act as though their company is a "Large-Cap" trading on the NASDAQ or something, they don't realize they are in Pennyland the wild west of trading, where manipulation and flipping is a way of life. Until a Penny stock CEO understands this fact and gets their head out of the clouds, they will never relate to the Investors that trade in this market. She doesn't realize that RTG is being driven into the ground by the "TOXIC FINANCING FIRM THEY BORROWED FROM IN THE FIRST PLACE"!
Now, here's the how & why; The Entity holding the Toxic Financing Note for Convertibles, I highly Doubt has been Paid off yet, and until they are paid off, it is much more profitable strategically for them to keep RTGV's share price depressed.
Why?
Because RTGV most likely has not attained/secured the Financing yet to pay off the Toxic Entity, and the higher the Share Price, the Better the Chances are for RTGV to get Better Financing. Keeping the share price depressed is all in the best interest of the Holder of the Convertible Debt Note, and I'll Guarantee you they "SHORTED AGAINST THE BOX" on RTGV Long Before they started Converting and I highly doubt that they have Covered yet, which is why the PPS is where it's at, right where they want it, Just above where they were Dumping Convertibles and Just below any Break-out Signals on the chart to keep the big Players away.
The following writing (In Bold) is an excerpt copied from an article by a guy who has worked for a Market Maker as well as Major Brokerage Houses, and has participated in the Manipulation of stocks while being in the employment of a Market Maker. I DO NOT know this guy personally nor have I ever met him or spoke with him. The following is from something he wrote and I personally believe this is what the Toxic Financier that holds the note for Convertible Debt is doing to RTGV, probably with the help of a Hedge Fund.;
They (convertible note holder/hedge fund) have sold a ton of shares that they don't have and did not borrow, but they will pass that short position back and forth among themselves so it doesn't matter, they already have your money. The shares that they sold short are not actual shares to begin with but merely IOU's that they are legitimately "supposed to deliver" but rarely ever do, they short against the convertible note they hold. The MM's swap these "short sold IOU's/share entitlements" back and forth as they need to. This can go on for weeks, months, and even years.
The tricks of the common MM are plenty and step 1 is only the begining my impatient friends. Here's how it works in a nutshell, this is common practice so many reading this have probably seen it happen before.
Step #1. Is to drive the price down causing confusion as well as setting off an accumulation by investors.
Step #2. Is to make the price fall a little more causing panic selling.
Step #3. Trade it sideways for a while to get shares back from impatient investors that were looking for the quick buck.
Step #4. Drop the price slightly again to set off a little panic in the longs that just watched the stagnant market for a while.
(Step 3 and 4 is when there will be MM accumulation)
Step #5. Run the price up and unload the inventory at a premium and start the whole process over.
RTGV isn't going to do much of anything UNTIL They get this TOXIC MONKEY OFF IT'S BACK! They are the ones that are short-selling this into oblivion on top of the convertible debt (new shares). The Name and CUSIP change will force a short cover which should be interesting to see the outcome.
otterman; If RTG was "Lucky" enough to have the SEC look into the manipulation (IOU short selling) thats been going on here, I believe we would see a short squeeze that would blow our minds, but unfortunately that is wishful thinking on my part. A wish that I'm 99% sure will prob never happen.
I read an article of a report that came out for an 18 month period of time between 2007-2008, the report came out in 2009 or 2010, that the SEC had received complaints from over 5,000 small/micro-cap Companies that claimed their Company stock was being Naked short sold, and out of more than 5,000 Companies that sent in complaints, between 120-125 of the over 5,000 were sent to the enforcement division for "Further Investigation" and out of the 120-125 the SEC "DID NOT TAKE ACTION ON ONE SINGLE CASE"!!! NOT ONE!
I have the link and can post it if anyone would like to read it? It's unreal.
IMO if anyone here doesn't think that RTG has been victimized by any of this, then you are living in "Wonderland".
Not really, there's some but this is the starting point of it all, just until recently (meaning the last couple/few years, the Record companies have still had the upper hand with Bands & Artists, most of your Indie Labels have still needed the resources of the majors, but that is all changing now, and personally I'm lovin it! I hope RTG ends up being in the top 10 online formats for Bands/Artists.
By that statement, I take it you haven't traded sub/micro penny stocks that much then eh?
Someone posted a link to one of RTG's competitors last week, I checked out that site and it was really awesome to think of whats coming for Bands and Artists being in the Music Biz myself. I'll repost the link as soon as I find it.
If RTG is successful they will be part of the Internet wave that is changing the Music business as we know it. Bands and Artist's will be able to Market themselves and be able to bypass a Record company altogether! Totally revolutionary from what I've read about it.
Roger M Bailey; IMO the holder of the note for the convertible debt is the biggest problem the stock has right now, until the company gets them "Paid-Off" this manipulation is going to continue. The person sitting in the CEO chair is going to be in the "Hot Seat" no matter who they are, as long as this crap continue's. Paying off the toxic note and a name and CUSIP change to force a short-cover will send this stock back to pennyland without a merger IMO. With the merger deal, 05-10 at least.
Destro7766; One thing the company will be able to do with the NOBO/OBO list is to compare the share totals with the Transfer Agents list and see just how big the short position is on the stock, and also see how big the naked short total is as well. Theres people that think that the new rules the SEC put in place beginning with REG-SHO (which is but a JOKE), and the new rules starting in 2008 after the crash, have put a stop to the "Naked" short selling, but it has had little impact. The SEC has cracked down a bit more than they have in the past but it is still widespread throughout the small/micro-cap markets. Thats why they pay attorneys hundreds of thousands (perhaps Millions in some cases), to find "Loopholes" in the laws, and new ways of "Creative Financing/Creative Trading" as I like to call it, to get around the laws or to just get better at Hiding the fails to deliver.
Talking about this reminds me of the story I heard years ago (back in 2004-05 I believe) of the guy who bought the Complete "OUTSTANDING SHARES" of a Penny stock Shell Company. According to the Transfer Agents Legal Filings with the SEC there was less than 2 Million shares of common stock issued and if I remember right the Authorized shares were 10 or 20 Mil, and this guy had the Stock Certificate in his bedroom dresser drawer for the complete O/S. He was the 100% owner of all the issued stock of this shell. He did not sell "ONE SINGLE SHARE" of the stock, nor did he authorize any New Shares to be issued.
Yet he watched the daily streamer on his stock as it traded 5-10 Million shares on a daily basis! Some days it would trade 20 to 30 Million shares! The whole time he had the Certificate from his Transfer agent for the 100% outstanding number of shares. He went to the SEC about this, the stock was obviously being naked short sold and the share price had totally plummeted from what it was when he bought all the shares of the O/S, but the SEC did nothing about it. Unreal what goes on and what the big firms get away with.
gold56; Step 4 is what we've been seeing since April 12th & 13th when we had the little run-up to 0035 and the few weeks before that. They have been shaking us down to try and get longs off their game.
They have shaken us down to 0018 4 times and 0017 twice since the Feb run-up to 0033 on Feb 17th. These are short selling manipulations mixed in with the new shares that have been hitting the market. But RTGV keeps bouncing back which IMO is a very good sign for a major run-up when the time comes and they have no choice but to let her fly!
I don't see why .03 to .05 is out of reality when our time comes.
I have to say something about this post I'm replying to, Millenium323 has brought up the exact subject I was talking about last week in the following post pasted below. I had more to add to it but I held off because there were so many people "Venting" on the board and I did Not want to add fuel to the fire as well as have too much in one post and have this part of it overlooked. Here is my post from last week in Italics; (after that is what I left out)
Investo7 Wednesday, April 25, 2012 6:47:57 PM Post #64183
One thing that I have not heard anyone mention at all, is the fact that when they do a Name Change and Symbol Change like they said in a PR earlier this month (That's assuming they are doing a CUSIP Change as well), is that they have to Notify all the shareholders of Record about the change, and they also have to Notify "Anyone With a SHORT POSITION" As well. The "SHORTS ALL HAVE TO BE COVERED BEFORE THE NEW SYMBOL CHANGE TAKES PLACE"!!!
Now I know there are those here who don't believe in all the short-selling info that people post, but that's your prob to those who don't believe that it happens ALOT MORE THAN YOU THINK!
Anyways, I believe that RTGV is being Manipulated, by the Entity that holds the Toxic Note that was given a 6 month window until they get "Friendly Financing" (as they PR'd it) in place. Now, here's the how & why; The Entity holding the Toxic Financing Note for Convertibles, I highly Doubt has been Paid off yet, and until they are paid off, it is much more profitable strategically for them to keep RTGV's share price depressed.
Why?
Because RTGV most likely has not attained/secured the Financing yet to pay off the Toxic Entity, and the higher the Share Price, the Better the Chances are for RTGV to get Better Financing. Keeping the share price depressed is all in the best interest of the Holder of the Convertible Debt Note, and I'll Guarantee you they "SHORTED AGAINST THE BOX" on RTGV Long Before they started Converting and I highly doubt that they have Covered yet, which is why the PPS is where it's at, right where they want it, Just above where they were Dumping Convertibles and Just below any Break-out Signals on the chart to keep the big Players away. Theres more to this than just what I wrote, but that's the Bottom Line right there.
What I did Not add in this post last week is what I believe (IS Currently) and has been happening to RTGV for the past several months.
The following writing is an excerpt copied from an article by a guy who has worked for a Market Maker as well as Major Brokerage Houses, and has participated in the Manipulation of stocks while being in the employment of a Market Maker. I DO NOT know this guy personally nor have I ever met him or spoke with him. The following is from something he wrote and I personally believe this is what the Toxic Financier that holds the note for Convertible Debt is doing to RTGV, with the help of prob a Hedge Fund.;
They (convertible note holder/hedge fund) have sold a ton of shares that they don't have and did not borrow, but they will pass that short position back and forth among themselves so it doesn't matter, they already have your money. The shares that they sold short are not actual shares to begin with but merely IOU's that they are legitimately "supposed to deliver" but rarely ever do, they short against the convertible note they hold. The MM's swap these "short sold IOU's/share entitlements" back and forth as they need to. This can go on for weeks, months, and even years.
The tricks of the common MM are plenty and step 1 is only the begining my impatient friends. Here's how it works in a nutshell, this is common practice so many reading this have probably seen it happen before.
Step #1. Is to drive the price down causing confusion as well as setting off an accumulation by investors.
Step #2. Is to make the price fall a little more causing panic selling.
Step #3. Trade it sideways for a while to get shares back from impatient investors that were looking for the quick buck.
Step #4. Drop the price slightly again to set off a little panic in the longs that just watched the stagnant market for a while.
(Step 3 and 4 is when there will be MM accumulation)
Step #5. Run the price up and unload the inventory at a premium and start the whole process over.
The Negotiations for the Acquisition can be Completed but they have to wait until the Paperwork is finished for them to sign. They cannot disclose the details until the attorneys present them with the Legal Documents to sign. There are several stages in complex Mergers & Acquisitions.
trading.jeff; Anything over 4.9% must be filed.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75171274
I know that and I agree with you, but when there isn't a seller to match up with a buyer the MM's will fill a buy order from their own inventory. Some MM's don't keep inventory of Penny stocks, but others do, like your larger ones like NITE or other larger firms will actually keep their own inventory of shares to fill buy orders, and the will buy shares from sellers as well, to a certain point, whatever they have set-up in their systems for each stock. Thats the point I was trying to make with him, is that on a lot of your Pink sheet & Penny stocks, a lot of MM's own their own inventory of shares, otherwise they would be unable to make a market say if they didn't have any sellers to fill buy orders with, they would have to sell from their own inventory. Rather simple to understand really. I don't know why this grew into a big debate?
Omega3Man; I don't think you realize that 90 some % of the trades that take place on these stocks are "AUTOMATED", Do you actually believe that there is someone sitting at a desk of computer screens matching up buyers and sellers? Most all of what we see is running on Auto Pilot, that's how they make their money, thats why we see things on L2 that doesn't make sense to us because it's software running the show. Theres no way they could ever pay people to monitor the thousands of stocks out there. The electronic markets are one of the most complex computerized systems in the world, next to things like the NSA or something on that scale. The only time something is done manually is when there is a problem with their software or something.
Omega3Man; I just posted a post that answers what you posted in this post I am replying to, "THE MM's FILL ORDERS FROM THEIR OWN INVENTORY WHEN THEY ARE UNABLE TO MATCH A SELLER WITH A BUYER" and it doesn't matter whether my buy order is a limit order on the ASK or on the BID.
Omega3Man; Ya know, to add to what I just posted, most of the time on the OTC, especially Pink Sheet stocks, did you know that most of the time the MM's filling BUY orders, making a market, that the MM's filling those orders actually OWN the shares they are selling to us? If they can't match up someone selling to fill a buy order from a retail trader then they fill that BUY order from their own Inventory, just posting this in case you didn't know?
So even if an MM fills a BUY order that is set at a limit price that is on the Bid, and it gets printed as a sell, it is still a BUY. No matter how you try to word it to make it sound negative.
That's what they do to me everytime I make a buy, it gets printed as a sell. LOL
Eel; The rules are different for just a name change and that of a name and CUSIP change. I know for a fact if the company does a name and CUSIP change "ALL SHORT POSITIONS MUST BE COVERED" Before the change takes place, which would/could cause forced to covers/margin calls on traders who sold short, but the problem is with the hedge funds who work together with the toxic financiers, who are short selling against their own position/holdings or against the note that is due for conversion.
One thing that puzzles me about this deal, is that I wonder if the toxic financier knew that RTG was going to do a name change back in Feb when the 6 month window deal came out? I wonder if the 6 month window was something that the financier agreed to or if it is something that was written into the deal beforehand? or what?
It makes me wonder, that if the financier who currently holds the convertible debt note, and has not been paid off yet (if they had I'm sure there would be a PR about it), but I wonder if maybe there is some backlash going on that we don't know about, between the toxic financier and the RTG Board?
It seems to me that the board is finally (maybe) waking up to the fact that the stock has been manipulated bigtime and are taking steps to try and get rid of it, and I'm sure Mr. toxic f is not liking it (boo-hoo) but I'm sure if the financier voluntarily agreed to the 6 month window for RTG to find better financing, that if the company is taking steps to get rid of the manipulation thats been going on, I'm sure the relationship between the RTG board and this financier they desperately need to get paid off, is not getting any better. Which makes me wonder whats going on behind the curtain? This might explain the low volume stand still?
Luca Brasi; Inaccurate as in "Way Too Conservative Figures"! LOL. What they are not counting in that report are the IOU's and short swaps between MM's. The firm holding the Toxic Note that they were dumping back in Feb. before the company got a 6 month window to get more friendly financing stills holds that note and has been short selling against their own holdings or right to conversion, they don't even have to borrow shares from any retail/margin accounts, they can simply short with IOU's (share entitlements) and I doubt if the report is showing any of that since they are basically shorting against their own position.
Roger Bailey; I won't debate that fact, But IMO, she is not the real problem here. I agree that some of the Officers on the RTG BOD are not really that good, but if they were very good, they would Not be on the board of a Penny stock that's trading in the subs, as a shell stock now would they?
One thing I find a lot of in Pennyland, is that you get so many CEO's and other Board Members who always seem to think that their Little Company is a Big NASDAQ, S&P, DOW Stock or something, But they don't realize that they are in Pennyland!!! And Trading life here is completely different from those who only play the Big stocks. There is a Fortune to be made in Penny/Sub Penny stocks but these stocks trade totally different from those on the Big exchanges, and most of the CEO's and other board members of Penny stock companies don't understand how the Penny Markets operate. Most of them read it in a dam book! They have Book smarts, but no "STREET SMARTS", and that's why they do the things they do, they don't know any better.
My point is this, we have had Buying Interest here, and everytime the stock starts to climb it gets nailed, this is the work of an Aggressive Big Money Trading Firm in my opinion, whether it is an offshore Hedge Fund, or here stateside, they have RTGV in their pocket right now and until some real action is taken, it's going to continue. If you think that us little Retail Traders are going to do much against this, think again. They will just keep manipulating this day after day with the unlimited Bank Roll, which is one reason I beieve the Company ordered a NOBO, I think they have finally realized they have a problem here, I hope they have anyways? I don't know if they really understand what the problem really is yet?
One thing that I have not heard anyone mention at all, is the fact that when they do a Name Change and Symbol Change like they said in a PR earlier this month (That's assuming they are doing a CUSIP Change as well), is that they have to Notify all the shareholders of Record about the change, and they also have to Notify "Anyone With a SHORT POSITION" As well. The "SHORTS ALL HAVE TO BE COVERED BEFORE THE NEW SYMBOL CHANGE TAKES PLACE"!!!
Now I know there are those here who don't believe in all the short-selling info that people post, but that's your prob to those who don't believe that it happens ALOT MORE THAN YOU THINK!
Anyways, I believe that RTGV is being Manipulated, by the Entity that holds the Toxic Note that was given a 6 month window until they get "Friendly Financing" (as they PR'd it) in place. Now, here's the how & why; The Entity holding the Toxic Financing Note for Convertibles, I highly Doubt has been Paid off yet, and until they are paid off, it is much more profitable strategically for them to keep RTGV's share price depressed.
Why?
Because RTGV most likely has not attained/secured the Financing yet to pay off the Toxic Entity, and the higher the Share Price, the Better the Chances are for RTGV to get Better Financing. Keeping the share price depressed is all in the best interest of the Holder of the Convertible Debt Note, and I'll Guarantee you they "SHORTED AGAINST THE BOX" on RTGV Long Before they started Converting and I highly doubt that they have Covered yet, which is why the PPS is where it's at, right where they want it, Just above where they were Dumping Convertibles and Just below any Break-out Signals on the chart to keep the big Players away. Theres more to this than just what I wrote, but that's the Bottom Line right there.