is...Gone. Didn't like the new changes.
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I'm glad you find humor in it, Tina. I'm scarred for life because of it. :o)
My parents tried to pawn their's off on me one time, said all I had to do was pay the fee's and taxes and it was mine. Ever since then I've been trying to figure out what the hell I did wrong to them that they'd try to screw me like that.
I think it all depends on whether they run out of money before they start generating significant revenue or not. If they can hang on until the revenue starts coming in they shouldn't have a need to exceed the current A/S.
Really makes you wonder what the hell they're thinking, doesn't it? Why not just give them the damn shares for nothing?
Lawyers are always drooling to take your money, whether your case sucks or not. Not sure how suing the company would help increase the PPS. Perhaps we should just wait to hear from them before we go off the deep end and start burning people at the stake.
I myself hate when penny stock companies put dates or deadlines in their PR's, because they're notorious for missing them. I would've rather they just said, "we'll be closing the first loan in the next month or two." However, I'm sure they just didn't pull the date of Jan.22 out of their ass, they must figure they have a pretty good shot at it by then. If it was their intent to scam us and just dump shares, I doubt they'd have given a date knowing that if the loan isn't closed by then the buying would dry up. Whether they close the loan by then or not, I'll probably still stick around, they'll get it closed sooner or later. I imagine my time line is a little longer than most.
I doubt anyone really cares.
Technically the reason they're on the greys is because they either haven't sought or couldn't find a MM to file a 15C211 with the NASD. Do the points you brought up have any influence on that process? I'm quite sure they do.
I guess this is due to all the problems of being a non reporting company?
Nope, not at all, there's an assload of pinks that don't report squat. Has to due with the SEC suspending trading for 10 days, after which you automatically open up on the greys.
I don't have any problem at all with you being a smart ass concerning this stock, but try to at least be halfway "smart" about it. This stock isn't a "pink", it's a grey. It's hard to be a smart ass and a dumb ass at the same time, huh?
I have faith in you Jim, I'll take all those shares off your hands. I'd also like some CD's and warrants to go along with them, if you don't mind. Happy New Year, buddy.
I highly doubt these dudes saying they're shorting millions of shares have millions of dollars in their accounts to cover the margin. Just a whole lot of hot air being blown around.
Short Marginable Positions:
If last sale price/share >=$5, then maximum ($5 per share, 30%*stock value). If last sale price/share < $5, then maximum ($2.50 per share, 100%*stock value). Short sale proceeds are applied to cash and the short position value is subtracted from equity.
http://individuals.interactivebrokers.com/en/trading/marginRequirements/margin.php?ib_entity=llc
Also remember the company chose the lesser of two evils. They could have chose the toxic financing route with someone like Cornhell Capital, who would have pegged this stock at .0001 for a hell of a long time. Like I said before, I'm not jumping up and down for joy over the O/S count but, if they would've went the Cornell route I'd already be out of this stock. I've only seen one company survive Cornell and they're not completely out of the woods yet.
Hey, I wanna short penny stocks too, but can't find a broker who'll let me do it. Care to give me the name of your broker so I can set up an account with them? TIA.
This is purely speculation but, I think a lot of the dilution we've seen recently was most likely the company raising money for those initial loan payments, just in case they didn't receive the revenue from the first BCLOC loan in time. Again, this is only speculation but, it's how I'd play it if I were in their shoes. No one wants to be late with their first loan payment, especially if you're going to be in the financial business.
Wang's not allowed to be sarcastic, that job is reserved solely for me. :o( Get that skin a little thicker, pardner.
I figured you were making a general comment, just wanted to bust your balls. :o) Have a good weekend everyone.
Josh,
Did it seem to you like I needed that speech? In case you're wondering, I'm waiting on funds so I can double my position, I'm pretty comfortable with this stock. Thanks for the pep-talk anyway.
WHAT?????????
"whining" not "wining". One of the keys to being successful with sarcasm is, proper spelling.
You can short penny stocks but, it would cost you more in fees to short them than you'd make if they went to zero. Hence, why only MM's short them and not unless they have to, despite popular belief.
Then perhaps someone needs to dump you, for the same reason! Why can't people ever sell and just move on, without all the fanfair? Nobody cares that you sold, don't you get that?
my math may be real bad but it still adds up to a big reduction in the float to me.
You're right, but they'll be buying it back at prices presumedly much higher than they sold it at. So, it's impossible to say how many shares they'll be able to buy back. Which is why I say that sooner or later it will be more profitable for the insiders to issue a dividend than to buy back a few expensive shares. I notice no one ever mentions the $2.8 million in revenues they'll generate annually from servicing those $740 million in loans, for the life of the loans. Nothing to sneeze at.
Actually, they get 5% of the $6 million and they'll use 35% of that to buy back shares, which is $105,000.
I don't think anybody here is to thrilled with the amount of shares that are floating around out there. But, the fact of the matter is they needed to pay the bills and I for one prefer straight up dilution verses CD's (toxic financing). At least they could half-ass control the shares issued this way. If they stick to their word and buy back shares, we'll be fine over the long haul. Although I disagree with some here as to the amount of shares they'll be able to buy back, I'm not sure we'll ever see a 500 million O/S. Eventually I think it will be more practical to issue a dividend verses buying back shares at a higher price, especially considering how many shares the insiders hold. JMHO
I said what was on my mind, now lets move along. Tomorrow's a new day, lets see if we can't make it a better one. Merry Christmas.
Never tried to hide my colors, I have zero tolerance for whiners, that's the bottom line. As far as me adding DD to the board, Neil done an excellent job before I arrived and there was little that I could add.
I read Sterling's post and seen nothing hostile or offensive about it. I think you might want to take a step back and clear your head, things must be a little cloudy up there. And Sterling's right, beating a dead horse over and over isn't going to bring it to life. You're starting to be a pain in the ass for the whole board, if you want the answers nobody here has, then go find them yourself. Asking the same questions over and over isn't getting anything accomplished, except making you look like a jack_ _ _. If Sterling's post really offended you, I suggest you get some thicker skin if you want to hang around these boards.
Anyone!! How many MM's on the ask???
How many MM's left at 4 now???
I think one of the important things is that the money is available to fund all the loans. How many loans are completed will depend on how much time is involved to close each loan. I've been of the opinion (with nothing to document it) that each loan will go a little faster after the first one is completed. Seems like that's the way it is with a lot of things, once you work all the bugs out with the first one, you don't make the same mistakes with those that follow. I will be emailing IR to find out if they believe they can close all the loans within the next year. You would think that it wouldn't be out of the question for them to close one loan a month. However, I don't know all the details involved with the loan closings.
Thank you for your good wishes, same to you and yours. As far as discussing the stock, well, there's not much to discuss since everythings on the table. It is what it is, take it or leave it.
Just so I understand this correctly, you sold your shares because someone made you mad?? Is that what you're saying?
Not angry at all, just don't know why people have to make a big hooplah when they get out of a stock. Sell and leave, no need for a speech.
Don't let the door hit you in the a$$ on the way out.
You knew what I meant!
so why not ask a question like i have?
Because nobody here could possibly hope to answer it. If you look at the CEO's background, you'll see she isn't exactly new to this game. So, I'm sure she does a little homework before just handing out loans.
How in the hell could anybody here answer that question? Do you think someone here traveled around and checked out the 21 borrower's assets?
Actually closing at 3 wouldn't be that bad, it would take care of that gap we had from 3 to 4. Figure sooner or later we'll have to fill it, might as well be before the news.