is Loving China.. considering learning Mandarian
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You won't find many turd stocks here. There is a good group of folks here that know what they are doing. Hang out and see what gets talked about.
Yeah, it's a POS not to be discussed on this board.
You warned people about that on EXPH almost daily, insistently if I remember correctly, then it ran from .0008 - .0099. How about letting the adults here decide what they want to do with their own money. You've made your point very well known.
The OTC is nothing but a big gambling casino, let the folks roll the dice if they see fit.
Well that is the bonus from an Ihub momo pump fest.. but your going to need to consolidate for awhile now. It will probably be volatile from low .004's to high .006's for awhile now.
News will always be the trump card.. but for now.. consolidation time.
FEED up 3.9% $5.38, glad I held a few from $4.20.
T/A's are nothing but administrators. In fact companies can be their own T/A is they like. The argument over the T/A is really irrelevant in the gran scheme of things.
You are 100% correct that the original T/A was associated with Belmont, that is pretty standard in the business. I imagine ESSO didn't like Belmont having so much influence over the T/A and that was the reason for the switch, which in turn led to the lawsuit.
T/A's only give out what they have on record. If there was "misinformation" it was because the company screwed up, not the T/A.
There is no conspiracy here.. just a stinky pinky with an amateur CEO running things.
That's pretty funny in so many ways.
Buying a shell is for morons. First off, a pinksheets shell has lots of scary skeletons and sometimes bogus stock sales. The other issue is recent changes to Rule 144 and 145, which pretty much made non-reporting "shell" companies virtually useless.
This attorney has good info on this. http://www.gopublicdirect.com/pink-sheet-shell-pink-sheet-listing-warning
The average stiny pinky shell sells for around $50K, if someone is paying more.. their an idiot.
The whole R/M is sometimes dreamed up by middle men and brokers to take advantage of idiots that don't understand capital formation. You will always be better off going public from scratch, it is cheaper and in some cases just as fast. A start-up can be done sometimes for as little as $60K and that's OTCBB.
There is really only one good reason to go pink.. to avoid disclosure so you can screw niave penny investors.
Nobody can cause the T/A is gagged lol. If he didn't have anything to hide.. why gag the T/A?
Then don't trade them.
Google is your friend.. use it..
http://www.google.com/#hl=en&q=Pennant+stock+pattern&aq=f&oq=Pennant+stock&aqi=&aq=f&oq=&aqi=&fp=KxYPMM6r3XA
It's emotion, something that one must not have, nor fall victim too on Wall Street.
Emotion is the sign of an inexperienced investor who in all likely hood has no business making investment decisions.
"A spurt is nothing but a drip under pressure" That I've got to remember.. Love that quote lol!!! hilarious!
FEED bouncing nice after hitting the $4.30 strike price.
Trust me, I know it all to well. I did IR remember lol!
Omega3Man..
Remember this post?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37850216
Here is a little secret, investors put their money in companies they feel will do well over the long haul. Sometimes there are bumps along the way. In most cases investors will continue to add to their position. This is called cost averaging.
I'm pretty sure Gambler has done very well on this stock, as well as all the other core investors, despite your annoying warnings to the contrary.
Looks like Mark has done will with EESO... he has his own Pinky to play with now. http://www.mikethepikeprods.com/
How long before it is sub penny? Care to take a guess?
It's an excuse for why the stock keeps dropping.
Calling it a "pump and dump" would be more fitting.
Well, that is the problem with message boards isn't it? They breed ignorance and stupidity. Why do most people come to message boards? Because they don't know what the hell they are doing and are looking for advice. Only problem is the ones that offer that advice are the same people that 6 months, or a year ago didn't know what they hell they were doing either.. but since they have been on a message board they are now experts. So the same myths and stupidity keeps getting handed down over and over again.
Pretty funny if you ask me. I get a kick out of reading some of the posts.
Oh I agree 100%.. it is why I started my consulting company when I did too. It's profitable to use honesty as your sales pitch.
I know the process well, I am a consultant in that area. Blank check companies are for morons. It is just a gimmick dreamed up by scrupulous brokers. The SEC provides "blank checks" for special purposes like JV's etc. Since your average person has ZERO clue on how a company goes public, brokers take advantage of the naive by pushing the "shell merger".
Whether you merge into a "blank check" or a trading OTCBB "shell company", you still are going to have to prepare the same filings and spend the same money you would have to if you just went public from scratch.
A R/M is a gimmick.. the only time a R/M is even acceptable is if it is part of a larger financing deal that is agreed to prior and the "shell" is provided to facilitate this financing.
R/M's are the concoction of middle men and brokers to milk every penny out of naive and inexperienced CEO's seeking to use the capital markets.
Pinks show up on Reg Sho due to the delay in DTC reporting.
Example:
Company IHUB sells shares to an accredited investor in Texas using Regulation D, rule 504 as the exemption from registration. The shares are issued to the investor "restricted" under Regulation D and Rule 144. The investor then obtains legal opinion through Texas securities law, which allows shares sold ONLY to accredited investors, to be free trading. The opinion is then sent to the T/A, the T/A removes the legend and the shares become free trading.
Now, hows it effects REG SHO. When the investor receives the signed documents from the company concerning the purchase, the investor, through his broker dealer, shorts the shares into the market, thus providing the investor with cash. At the end of the clearing period, the DTC shows an imbalance due to the "shorted" shares. This imbalance causes the company to be listed on REG SHO. Once the investor has recieved the new certs with the legend removed, he provides the broker dealer with the certs to cover his short.
This is pretty close to what happens, the shorting is 100% legal as well. This is also similar to how convertible PIPE transactions work.
A "blank check" company is exactly that. However, your not going to see many "blank checks" with a ticker trading and running promo's. Don't think a MM would sign off a Form 211 on a blank check company anyways.
If you have 50 people, 35 non-accredited and 15 accredited, it is possible to go public with a start-up on the OTCBB for about $60K in total costs.
Not a bad deal when you can merge, **cough** sell the shell for $200K+ and make money on the equity and promo.
Yeah, 144.i is the exact rule that made "shell" companies ineligible for rule 144. I'm sure there are a ton of bogus opinions out there. The rule change was retroactive.. no grandfather clauses. Pretty much every pinksheet company that was at anytime considered a "shell" is now useless.
Check MIMS and LGBS both created by Carnes and associates (same attorney and auditor). Fwiw, it is illegal to create a "shell company", the SEC requires there to be a business. I leave it up to somoene else to judge whether or not these two companies had legitimate business plans. I believe MIMS had a merger candidate lined up but financing fell through.
If you read through SGLS, MIMS and LGBS filings, you can get a better picture of the individuals and how they are associated.
I also believe GRMU and SGLS were rumored to be exploiting the use of S-8's under the guise of "consulting agreements", at least that was the rumor.
EESO was another company that was associated with Carnes at one point but I believe EESO did not follow through with the deal? Brian Kistler (IR guy for several Carnes deals) however was involved early on. Carnes also heavily diluted RVGD shareholders along with Powalisz (LGBS CEO) through promissory notes. The CEO tried to make it work but in the end fell victim to his lack of experience.
Since the SEC changed rules 144 and 145, it has made it difficult and risky to operate pinksheet boiler rooms as opinion on resale of shell stock is now no longer eligible. Some are still doing it, but I expect the next major SEC crackdown to be going after illegal opinions on stock transfers issued through Reg D.
I'm unaware of anything any of them have done that was illegal. They followed everything to the letter of the law that I could see. In fact they were very efficient, the MIMS SB-2 filing was a work of art, cleared the SEC in weeks. Whether or not they were ethical in their business dealings however is up for debate.
Hey bud, noticed the post. Here is something to think about. If I went out of my way to provide a share report from the T/A why then would I mislead anyone about shares being issued? Wouldn't that kinda be like setting my own trap up? I was always humored by the folks that tried to make that argument. Showed how simple minded they were .
I don't know that I was intentionally mislead or not, I'm not sure Pete even knew the right number, hell paper was rolling off the printer faster than anyone could count.
It wasn't exactly a great time for anyone when Carnes started converting.
fair enough..
Excuses? I guess my excuses is what allowed the core investors in EXPH, many of which I brought to the company, to now be popping champagne bottles and celebrating a stellar run.
It was my efforts that helped EXPH build a strong enough shareholder base that the company was able to weather a rough patch. Now those investors are enjoying the fruits of their investments. So saying I failed as a promoter shows how naive you are in the role of IR.
I wished I could have done the same with BEDA, but we can't win them all now can we. I think BEDA will be able to turn things around despite my inability to bring in a base of investors.
Make sure you point out the PIPE deal as well..
Might be best to sit on the sidelines until full disclosure is provided. PIPE's can be nasty ;)
NOTE 4-PREFERRED STOCK
Series A Preferred Stock
On April 24, 2008, the Company withdrew its certificate of designation establishing the Company’s Series A Preferred Stock and filed a new certificate of designation for 500,000 shares of Series A Preferred Stock, par value $0.001 per share. Anytime after October 24, 2008, the Series A Preferred Stock is convertible based upon the average of the per shares market value of the Company’s common stock during the 20 trading days immediately preceding a conversion date. In addition, upon the consummation of a bona fide sale third party sale by the Company of its securities resulting in gross proceeds of at least $1,000,000, the Series A Preferred Stock will automatically convert into the securities being sold in such offering. The Series A Preferred Stock has no voting rights, dividend rights, liquidation preference, redemption rights, or preemptive rights.
On April 24, 2008, the Company issued 500,000 shares of the newly designated Series A Preferred Stock as part of a financing transaction. See Note 6. The Company has valued the convertible shares using the Black-Scholes model and has recognized a financing expense equivalent to the stated value of the Series A Preferred Stock of $500,000.
Series B Preferred Stock
On April 24, 2008, the Company amended the certificate of designation establishing the Company’s Series B Preferred Stock. Pursuant to this amendment, the Company’s Series B Preferred Stock now contains on limitation on conversions such that no holder of Series B Preferred Stock can convert such shares into the Company’s common stock if such conversion would result in the holder owning in excess of 4.99% of the Company’s issued and outstanding common stock.
Series C Preferred Stock
On April 24, 2008, the Company amended the certificate of designation for its Series C Preferred Stock. Pursuant to the Amendment, on all matters submitted to a vote of the holders of the common stock, including, without limitation, the election of directors, a holder of shares of the Series C Preferred Stock shall be entitled to the number of votes on such matters equal to the product of (a) the number of shares of the Series C Preferred Stock held by such holder, (b) the number of issued and outstanding shares of the Company’s common stock, on a fully-diluted basis, as of the record date for the vote, or, if no such record date is established, as of the date such vote is taken or any written consent of stockholders is solicited, and (c) 0.0000002.
Exactly, you might want to wait until full disclosure is available instead of pumping speculation to the noobs.
Well then it makes a R/M even that more ignorant. The company merging into the shell will still be required to complete a full PCAOB 2 year back audit and will still be required to file all information required under Regulation SK.
So in essence, whoever is buying the shell.. is going to have to pay the same cost of going public directly on top of the price of the shell.
R/M's are no longer the smart choice.
R/M scam..
Be careful of Pinksheet R/M's.. might want to read the link below and then ask yourself why would anyone want to merge into a pinksheet?
http://www.gopublicdirect.com/pink-sheet-shell-pink-sheet-listing-warning
Nah, your just narrow minded looking at things through a prism. As an investor your failing to see where things went wrong in terms of the dynamics involved. Instead, you pin all your frustrations onto management. I hate to bust your little bubble, but sometimes management can't control economic effects. They sometimes are forced into tough decisions when the climate changes around them and becomes unpredictable.
You bought stock in a risky start-up pinksheet company operating in the worst economic climate since the great depression and you have the audacity to blame someone other than yourself for the return on your investment?
If you want to be mad at someone, you need to start looking in the mirror. What your doing is blaming others for your lack of investment acumen. To experienced investors who read Ihub, it is so easy to pick out those who truly have no business toying around in the stock market. The first give away is the emotion involved.
The more established companies on these exchanges are the ones trading the higher values. You won't find these pundits talking much about the OTC markets however, it's to beneath them. That is where the gains are going to come from. Other than FEED, I don't really even follow many listed China small caps. All mine are OTC and a couple of pinks.
Find those OTC stocks poised for listed status that will actually benefit from it. There are several OTC stocks that will be able to get a good capital infusion from institutional investment once listed. That investment will provide liquidity (such as FEED) that will be come a steady ATM for a good position trader.
I don't think the "buy and hold" approach is the most profitable for China small caps. There is simply to much volatility not to use to ones advantage. Short term swings, or intraday trades are the way to go IMHO.
It's the names Lowes and WalMart that make it sexy..not the displays.
That is up to the market to decide. One of BEDA's biggest problems is that Medical Imaging isn't sexy or exciting. It is hard to promote. Most penny traders buy not based on genuine company prospects but how "cool" it is.
Guys got a nice site and I'm sure he has a flock of mindless disciples following his every word, but what does that have to do with thinking outside the box when conducting DD?
Any mediocre investor should be able to read a balance sheet and income statement. Of course all the TD Ameritrade, Scottrade and ETrade commercials have flooded Wall Street with a bunch of poons, so I can see how a few might feel enormously intelligent. Hell, when I'm surrounded by an ocean of idiots I feel the same way.
Separating yourself from the herd however takes the ability to think out of the box. You have to go beyond balance sheets, SEC filings and press releases. You have to understand how the industry works, how it breathes, eats and sleeps.
Did you know, with proper preparation, you can take a start-up company public on the OTCBB for under $50,000? The problem is finding someone willing to show you how haha.
Knowing that process however, understanding Rule 144, Regulation SK, Regulation A, D and S. That is how you empower yourself as an investor. Because once you understand how the gears of the clock actually turn the hands, that show the time.. instead of just wanting to know what time it is.. then you truly can profit.
Reading a web site like that bores me to death.. P/E's, marketcaps, industry trends.. YAWN.
understood... and not to sound like the shameless promoter I once was. You should call the CEO of SIAF. I was on the phone with him for over an hour today (Malaysia, my phone bill will be horrific). I think you should put a little effort into doing some DD on it. They have several projects coming out of construction, R&D and a major fishery project, all of which will probably increase revenue 3 times over by 2010.
They are going to control the entire supply chain for dairy and cattle. They are doing almost the exact same thing AgFeed (FEED) is doing.. but with cows/dairy, not pigs.
They have huge backing by the China Agriculture Bank. They also have not one single penny of toxic/convertible debt. Majority of everything has been subsidized by the Gov, or loaned by a bank.
I know being a pink is a turn off, but that is about to change. I've been doing this awhile now and this is the first company I will admit I have fallen in love with.