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Not really. I was just referring to the technical mechanics of it all. Look at how many companies trade immediately post IPO. It merely affects share liquidity, nothing more. Given FONU's history and OS/AS, it would be very dangerous to view the float as anything more than a temporary situation, in no way something that factors into valuation metrics.
If you think that it does, then you also must believe that the stock would be trading at .024 with a fully diluted float.
The valuation picture changes dramatically if you look at it on a fully diluted basis. The public float is meaningless for valuation, it only influences in how the stock trades.
Imo, the only reason that it is holding up so far is because a few big public shareholders have really doubled down on the issued shares. If the float continues to grow, will others emerge to buy the newly tradable shares? That is the real question. Maybe so, maybe not so.
Sure, everyone that did not purchase MDNT last year or FONU this year missed out on so much.
AEGA 1:400 Reverse Split/Cusip Change 05/01/2015 00:00:00 AEGA AEGEA Inc. Common Other OTC
PVEC 1:260 yesterday.
CETC 1:5 Clean Enviro Tech Corp. NEW Common Stock Other OTC
CHFR 1:25 04/29/2015 08:50:16 China Fruits Corporation Common Stock Other OTC
Share value is not calculated by the "float".
PVEC 1:260 Reverse Split
04/28/2015 12:16:24 Reverse Split/Cusip Change 04/29/2015 00:00:00 PVEC PV Enterprises International Inc. (NV) Common Stock
New name - Drone Services USA, Inc.; New symbol - PVECD
Reverse Split Ratio 1:260
Not a bad choice. Stop limits are rather problematic as well given that it can fall through without a fill and never come back up but, overall better than a regular stop.
I understand your reasoning, makes sense. My instincts would say that if I'm willing to shovel it out at .015 all time lows, I'm willing to sell at .02 all time lows where a fill will occur. But, I completely understand the desire to give it as much room as possible given that something positive is always possible.
Hopefully you do not mean an actual stop order at .015. If so, the odds that it executes at .015 are somewhat low. Unless your position size is quite small, using a stop order in the OTC market is not advisable. However, if you are willing for whatever execution you may receive and just want out no matter what if .015 is hit, it is fine.
4 10 19 78 please, thank you.
20 41 78 please, thanks.
I believe that you are quite familiar with those running it.
http://www.pumpsanddumps.com/2014/06/fortitude-group-bag-holders-have-little.html
http://www.thepumptracker.com/2010/01/ageddebtnet.html
A doctor in Savannah GA appears to be trying to give 700k a run for the money on FONU. @yusufhameed on Twitter. I estimate that he's somewhere around half way there already. Unfortunately, he hasn't learned the lesson that propping up a bad position isn't a good idea. Classic case of insider assurances, hope in the future and, belief in a rather historically unsavory cast of characters.
In this situation, an industrial development authority is also helping provide the assurance of authenticity. It is sad, almost embarrassing for me to see how naive they apparently are.
Regardless of the FONU headlines, read my post and the links I provided thoroughly. Just because the headline says something, it does not make it so.
It isn't as if being in the OTCQB marketplace is bad, In fact it is marginally better. However, absolutely nothing changes as to where it is traded.
May I inquire as to whether you are an insider or very close to FONU insiders?
Perhaps this will help clarify the confusion. Jake merely worded the terminology wrong, not surprising really. Perhaps he truly thought that it was a listing.
http://www.investopedia.com/terms/l/listedsecurity.asp
OTC Markets is not an exchange. They do however own OTC Link LLC, which, is not an exchange either.
http://www.sec.gov/answers/pink.htm
https://www.sec.gov/divisions/marketreg/mrotc.shtml
The OTCQB designation is purely an OTC Markets designation.
OTCBB no longer exists.
http://www.finra.org/industry/otcbb/otcbbcom-shutdown
http://www.reuters.com/article/2014/10/08/finra-regulations-otc-idUSL2N0S32A120141008
Other tidbits
You must be joking right? It was not an "uplisting" as some would like to call it(the term technically does not exist in the first place, you are either listed or not). It changes nothing except the designation that you see on the OTC Markets site.
It isn't a listing, rather just a designation given by OTC markets, a for profit company itself which charges companies for the privilege.
While this isn't particularly related to FONU, the accident that took place this morning not far from the studioplex site is truly horrifying and tragic.
It is indeed a dark day for the people of Savannah and the Statesboro/GSU community. I feel for them all.
Amusing that people extrapolate full financing from Jake's comments. He did not actually say that. He likely has just enough money now to keep the lights on and give off the illusion of progress.
Savannah wants more movie production, understandable given that most of the filming occurring in Georgia happens in the greater metro Atlanta area.
Thus, it is not surprising to see such a large amount of local support. Plus, few have seen what basically always occurs when capital intensive ventures are based on what amounts to hope. Jake is making a lot of promises but he has no way to back them up except via his only means of financing them. That barely provides enough but it has managed to keep it going so far. His motivation likely stems from the desire to hold an executive position. I continue to be slightly amazed and amused that people in Savannah accept every explanation and turn of events.
The game continues I suppose. He is doing what he does best.
Loads of money? I assume that you are being facetious.
Why is anyone remotely surprised by what has transpired with FONU?
So Bennie wasn't charged?
I'm always amazed that promoters like him are successful at what they do. The campaigns usually seem hopelessly amateurish.
A trader has been charged with contributing to the 2010 'Flash Crash'
http://www.businessinsider.com/a-trader-has-been-arrested-for-contributing-to-the-2010-flash-crash-2015-4#ixzz3XxzjKXT5
Chris Irons formerly of JBII/PTOI mixed up in the HLF debacle. http://quoththeravenresearch.com/2015/04/03/revealing-my-identity-and-why-im-fighting-herbalife/
Odd.
41 48 78 please, thank you.
20 24 48 78 please, thanks.
Well, he's in too deep to not be totally committed at this point. Not enough liquidity exists to exit quickly even if he wanted to. For his sake, I hope that the futility of doubling down becomes apparent to him soon.
Certainly explains where a decent chunk of the $ volume over the last month has come from.
Poor guy.
The next 6 month period will undoubtedly be one he'll always remember.
I have no idea who was buying the shares distributed today. Only know that a block seller sold most of the volume.
T trade eod says it all, a block seller was active today. That volume isn't additional volume, just merely a cross trade so, retail only made up a small amount of the volume today.
Pardon me for finding it mildly amusing that these prices are considered low.
Anyway, the reason is as simple as it is maddening I suppose. Too many shares looking to be exchanged for $, not enough $ looking for shares. Certainly no one with an agenda to knock down the price. I'm sure that the seller/sellers today would have undoubtedly preferred higher per share prices.
That might work if "shorty" existed.
Likely brokerage specific as equity market quotations are not impacted by Bloomberg in any way.
Incidentally, I had no problems on multiple platforms this morning.
No one here is using a Bloomberg terminal for price quotation. Besides, that was more of a bond market issue in Asia and Europe, not really an equity market problem. Regardless, the platform was up and running again well before US markets opened.
It isn't overly complex though.
The way it was capitalized shows where the financing is coming from.
Not surprising in the least.
Hearing and acting on inside information in the OTC market is usually a good way to lose money hand over fist.
Days like today are not surprising at all. What is surprising is that the pps is this high. With the OS rising exponentially it seems, perhaps there will be ample opportunity for more "cheapies".
The game goes on, Jake knows how to play it better than most.
20 22 41 48 please, thanks.