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Someone trying to put a stop to the endless buying at ask, 345k at .031. Still no bids really, pretty weird trading last few days, all day yesterday a shorty or someone trying to panic investors could have painted it down to .025 by selling 1k shares, didn't happen. I think the MMs are back on our side for now.
I'm referring to the last two days volume where around 1.5 millions shares were bought at ask in what looks like just a couple of orders (based on time stamps), after almost 2 months in a row when very little went at ask unless the ask was under .0265 area. I suspect it's a single investor, or a single investor sparked a few others to chase it.
I'll take it, but we do need some bids, currently no one believes it will rally here based on it not being bid up.
I have a bid at .025 if someone wants to sell to me, I can almost guarantee if I put it at .028 or above I would get it. I don't really need more but if someone is wanting to sell them at .025 I'll take them.
I'd feel more comfortable here if a 100 share sale at close wouldn't move this back 20%. I know why there are no bids though, they would just get sold into. Whoever just bought 1.5 million shares would have been better off just putting in a 1.5 million bid at .025. For the rest of us, buying at essentially market is great though, thanks whoever.
This might be the biggest spread I have seen this year on SRSR 19%, That's just about how much market cap that HKHE is buying ($5 million dollar spread).
Someone from SRSR management said .45 in 18 months (or was that a board post here)?
You know you are at least green, I'm fully aware you wouldn't actually be able to sell your shares and expect to be green. I suspect greater then 50% of the board members here that post are in the red on this and have been that way for a long time.
As dmbao suggested earlier, if there were shorts, why stop now, especially naked shorts, 5 million sold here at market would start a selloff to low .01s or below. Bid support at .025ish levels has all been eaten up over last month or so. Looks like 300k in sells now would put us under .02 (there are a lot of "50" bids on L2 which are probably hidden bids).
The problem is there are 830 million shares and people just get bored with lack of movement. Plain and simple. Look at today, 350k shares just moved it 14% negative. 340000/830000000, .041% of the total shares just effected the price by 3.3 million in market cap.
I just bought 150k at .024 & 50k at .028, 200k of volume is me.
It just takes 100 shares to close green at .028, the spread is 15%
Come on people, sell here eh? wtf? 15% spread right now. I'd buy but all of this selling just put me under PDT rule and I can't do anything.
If we can get 10k in volume we'll be at .3 at this pace :) ASKs getting pulled.
Disgruntles selling on no news, A few posts that we should have update this week since Scott is supposed to be back. No news yet, so sell... People seem to forget they are supposed to sell the news, not the lack of news. jeez. Or are we special and get both? At least they are not 500k block sells.
looks like someone has figured out how to sell with hidden ASK size. 150k share have been bought against an ASK of 5000 shares.
I guess we could just call the last 3 years as a run up to the IPO and we can still get in at Pre-IPO prices.
Pretty sure that same sentiment was posted here when price was .06+. Now all of those idiots that sold at .06 are sitting with 100%+ profit or double the number of shares if they re-bought. I really don't see this ever getting below .02, but that is still a 35% loss/drop from here if it does get to .02.
No one should need to trade based on posts on ihub, it should all be based on financials and news. Sadly that is not the case, if it were not for ihub there would be little trading at all and price would most likely be under .01, possibly much lower.
May 2008, SRSR was at .07, November 2008 it was .011
People here tend to buy on the way up and average down on the way down. So you could easily have a .02 or higher average if you bought in 2008.
I started looking at / buying SRSR in late 2008 personally and never would have believed that it would be basically the same price 3 years later. For a pinksheet that's sort of amazing, but nowhere near anyones expectations for this particular pinksheet.
I'd say it's people with millions of shares to sell they bought at .02 or lower. Maybe they need a new corvette or something. I'm not sure how everyone seems to overlook the fact there are literally 100 million shares sold in the last 2-3 years at .02. .03 is still at 50% profit for somebody. Can't imagine there are too many left from the .075 run up? Probably short sighted on their part, but a fact.
Ah, now we are back to normal, why would I think those bids wouldn't be sold into? I bought some more at 0.31, that's make the sellers regret today.
Yes, have not seen these bids for a long time, great for SRSR. 1.4 million above .03 visible on L2, probably others hidden.
REE stocks are now back out of favor, getting hit much harder then overall market. Just check 6 month charts on any REE (REE, AVL, MCP, etc..) all down 45 - 65%. The HKHE deal was most likely arranged this summer when REE stocks were at all time highs. So I'd guess that the possibility that HKHE only comes up with $5.5m versus $10m has increased, if they have not already secured the funding.
I supposed you could include SRSR in the REE list, in that respect, SRSR is actually following the market.
Of course this just may be a very good buying op for REEs in general.
All IMO
Put up a big bid at a reasonable price and you will get it, that has worked for the past 2 months. I'd say ~.03 bid of 100k or more and it will get filled by end of day just about guaranteed.
That was me adjusting my bid to .0295, it ended up .095 somehow and went at ask, just gave away $500 on that typo as people are still willing to sell at .03ish. Support looked amazing a couple of days ago.
I think the website is a lost cause, I just hope that HKHE knows how to market what they have and will have a dual English/Chinese website.
I received my packets on Thursday in Iowa, I have a Fidelity account and an Interactive brokers account (both basic margin accounts). The brokers themselves do not actually send these out, they just tell the transfer agent how many shares you have and what your address/info is. Then a third party company sends out the packets.
Someone with 17 million shares can't simply sell them, if he was an awesome/patient trader he possibly could have sold them all for .10ish, and we would have never hit .20 in that run. There wasn't a large amount of volume until the .2 day and the day after. However he could have sold a few million though without a big effect. I was under the impression that most if not all shares were bought via private placement (.02).
I think OntaREEo is correct in a way but he did not go into much detail in that first post. I guaranty initially it will be $5.5 - 10 million for 25-35%. If you do the numbers that is equivalent to the current private placement default share price of .02 per share. Once HKHE has a stake in this, they will then be the fund raisers for the project. That's the whole reason for the HK listing to gain access to funding. They will raise funds via the IPO, off-take agreements, financing, etc... That pretty much has to happen if/when this goes into production. Setting up the mine and processing will cost hundreds of millions of dollars.
Depending on how the fund raising is going, they could announce they have raised an additional $ amount immediately after the spin-out is official. This is more likely to not occur until after the pre-readability study is complete. It's also possible that we don't hear about anything until after the IPO, and then months more after that. I think we all have learned not to get our hopes up too much.
I expect a green day today, and then a good day tomorrow when longs check in to see why it closed green overnight (the opposite of what happened with the DC).
I.B. Like most brokers requires $2.50 in margin per share short for stocks under $2.50. 150,000 x 2.50 = $375,000 in margin to best case make $4,500 at this point, no retail investors would be interested in that.
You all know that SRSR is/was paying DR for their services right? It's not like DR sought out SRSR.
I personally think DR would be embarrassed by the DC if they were at all associated with it. Whomever wrote it up clearly has no experience in writing them (be it their lawyers or Scott himself). Seriously, anyone of us here could have written it up and done a better job. It's like they have absolutely no respect for their investors, if anyone within SRSR had read it from the investors point of view, you would think, hey wait a minute we should explain xyz... The DC cannot have taken more then a few days to create considering 90% was taken directly from old PRs. I wouldn't be surprised if they hadn't even started writing the DC until the Sept 14th.
As financial advisors, I assume DR helped SRSR match up with the HKHE investor(s); suggested they may more easily find financing in Asia, that's about it so far.
I wonder if the new / extended options will roll over into Nio-Star? After the spin-out would be the time to exercise them. Right now there is no reason to and they can just buy in private placement at .02 without wasting options. That would also be a good reason to extend the A/S. Right now they would't be able to exercise all of them because it would extend past the current A/S. Am I correct in saying that exercised options cannot surpass the A/S?
On a positive note, if you buy now, you are getting in at same price as HKHE is valuating Neme at.
Here's some crazy math:
35% of Neme is worth $10million, this values Neme at $10mill/.35 = $28.5 Million.
Todays market cap is 24.7 Million (.0298 x 829mill).
This does not account for the 100 million new shares (A/S) and the 35% of new shares HKHE will effectively keep. If you can buy at .02, then you will be getting exact same deal as private placements, HKHE and directors (I don't think you can lose at .020 if we get down that far).
Incorrect, the nio-star spin-out will be months away (with SRSR's pace it may be 1 year away), prior to the nio-star spin-out there will be an announced dividend date (and the ex-dividend date is the date when your shares count towards new nio-star shares). I don't see this turning around until the date is announced for the Nio-star and/or Shinning-tree spin-out or there is a magnificent PR after the share holders meeting that explains everything (1% chance of that happening).
If this somehow broke .0200, this could go sub-penny. Think about all of those shares bought at .02, after years of being green suddenly turning red. Really disappointed here.
Looks to have held .025 and bidders now coming in. Could be the bounce.... and now up above 3, all is well for now. Some may have just gotten a really good buy, only time will tell though.
Who then posts all notices as if they were Canadian reporting (Sedar).
Yeah, who would have believed this 2 months ago (which is now 200% gain away from here)? Very real possibility of hitting those .01s. I don't see all those "I'll suck up every dip posts" or "looking forward to buying more cheapies" posts?
I think we should all have our average share price attached at the end of our messages to see where we are coming from. You can pretty much tell by the tone of the messages those who are so far in the green it's next to impossible to be red and those who are so far in the red it may be impossible to be green.
Admins, Can we get a sticky for questions to be asked at the meeting? That way Bullrun2004 is not over run with the same questions over and over? The questions can then be refined. I'm not an admin, not sure how much work that would be?
Thanks!
What was the $550k for (from last financial statement)? 100 million shares at .02 = $2,000,000, and like I said that would only be needed until HKHE is spun-out, which would most likely be before the Macau conference in 7 months. Or that could be where HKHE plans to raise/finish raising the 5.5 - 10 million, putting HKHE spinout to late next year? Which would be more of a reason to need another $2 million.
Really nothing new other then the date of the meeting, 100 million new shares that will only be needed for 8 months at best, why did it take so long? I guess no one owns more the 5% of the company?
I guess now I may have the chance to buy .02s via new shares.
The record date was "August 30, 2011", the mail date was moved to September 27th. So with settlement, you are correct, it was August 27th. (I think you typo-ed the month).