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kingsplay, I believe ST was the only broker who put post-split shares in their clients accounts on December 6th. Regretably, they put way too many. I know my TDA and Zecco pre-split holdings were not available to trade that day! I know others who had their shares in Etrade, and they could not trade theirs that day either. The only shares any of us could trade were those offered by MMs by way of Scottrade.
Excellent news!
You might actually influence people if your posts contained accurate information. The O/S never doubled!
According to pesquero, the lay down area would be at the southwest corner of the yard. Regretably, it is smaller than the area you found.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59451867
Slick, nice intelligent, thoughful rebuttal!
iphone, enlighten us...where have you seen a promotion of any kind, paid or not, for CWRN? I have not seen one. I subscribe to stockpromoters.com...they have not seen one. Bob Cotton has denied using a promoter. Have you considered that pinksheets.com is wrong about this accusation? It is highly likely that someone or some entity indicated falsely to pinksheets.com that CWRN had used a promoter. As for the rest of your doubts, it is pretty clear to most of us here that Bob is producing iron ore at the mine and trucking it to the port. In a few short weeks, that ore will be loaded onto a very large ship and transported to China. You are not changing any minds here!
pesquero, thanks again for your insight! Do you think a panamex can be loaded with iron ore in the four days alloted at the dock?
He blogged it last time it happened...he doesn't have blog it again!
There are more important efforts to undertake at the moment.
samples, you do not know that Jeff has not submitted a correction to CO SOS. Even the fraudulent filing took four days to hit the website! It will happen!
Gracias, pesquero! It is nice to have someone close to the action to document each step of the process! The beer's on me next time I am at Hussong's!
Spencyg, apparently someone posted what I was thinking and got deleted. Legally, only an officer of the company can make filings. However, anyone can impersonate an officer of the company...Colorado SOS does not verify the authenticity, and this is the flaw in their system. The last time a filing was done fraudulently, Jeff corrected it within three days. I am sure he will do so again this week. The 3 billion A/S is a moot point since there is no way to sell the additional shares. Jeff's response to these shenanigans is very appropriate for where he is in the legal process currently underway. I am sorry to see your usual faith and confidence has been shaken.
TA responded today...no change in SS since November.
A/S 5 billion
O/S 2.476 billion
R/S 2.147 billion
FLT 328 million
You think because Joshua Henderson's name is on the filing that HE actually filed it? He also gave himself a promotion to President?
Strange, I was just thinking that myself!
The State of Colorado only knows what they are told by persons who make filings. It has already been established that anyone with a credit card can make such filings. Below is a link to all the filings of the corporation...all documents for the corporation are filed under a unique identifying number regardless of what the company is called. It would be prudent to consider any filing after 09/29/2010 not signed by Jeff DiGenova to be fraudulent.
http://www.sos.state.co.us/biz/BusinessEntityHistory.do;jsessionid=0000gVI-bqvk8QRLK8vyU5AHxtC:11nm17ad1?&cmd=passgo&pi1=2
What filing are you reading?
http://www.sos.state.co.us/biz/ViewImage.do?masterFileId=20041038153&fileId=20111063466
Do you see Jeff's name anywhere on that filing? What part of fraudulent don't you understand?
Samples, you really can't believe this deal is a traditional R/S. A true reverse split typically gives shareholders fewer shares of the same worthless entity and gives the principals the opportunity to further dilute. Not happening here! We are discounting our shares in order to acquire a solid, profitable, well managed company in which to blend our current assets, such as they are. The new company will make those assets much more valuable and shareholders will benefit!
Jeff is not repeating the mistakes and sins of the past. It is a new day and you will soon realize that his moves will restore investor value. Will it be like Dean Bradley envisioned, an aerospace conglomerate, not sure...but it will be far more valuable than Bradley left it. Let's meet back here at the end of February and see what has transpired.
It never ceases to amaze me that some people here continue to trash Jeff! He has done what he set out to do even as it has taken much more time than he had hoped. He will accomplish what Dean Bradley was never able to do, make QASP a profitable company, albeit in a different package!
Scottrade clients holding GBOED shares watched the PPS rise to $1.15 on December 9th. The value of the shares post split should have been $.55. Their inability to sell their shares at that level cost them money. Their inability to sell their shares at any level above $.55 cost them money! Seems they have a lot of explaining to do!
Congratulations, Richie, your patience and confidence is being rewarded!
Emerald, I remember bookmarking that eight ball. I now use it all the time for investing decisions:
http://web.ics.purdue.edu/~ssanty/cgi-bin/eightball.cgi
panther, the company's O/S following the reverse split is just under 2.5 million shares. There are now somewhere in the neighborhood of 20 million shares in the market, all of which were created on 12/6. Do we blame company or the TA for that?
Scottrade would love nothing more than to have everyone sell at this level. Their long delay in covering is at least partly a tactic to convince weak hands to unload shares. Some are influenced by naysayers who have suspicious motives. Then there are some who cannot wait it out for personal financial reasons. But the daily volume tells me that the overwhelming majority of longs are holding tightly!
I don't speak for the SEC any more than you do! It is common sense. They did not halt trading on 12/6, and they will not unwind this situation three weeks later. Scottrade may be able to get a few shares back from their own clients at a reasonable price, but they will not be able to solve their problem without the help of GeoBio or without buying back the phantom shares in the market.
With all due respect, Manti, the SEC cannot and will not bail out Scottrade! The only entity that could do that is GeoBio, and they don't seem interested in doing so.
Neither trade was added to today's volume.
Four MMs on the bid at .0023, three on the ask at .0024, but no trades for last hour and a half.
Correctomundo, Friendly! ST is trying hard to scare weak hands, but not being very successful. Time is on our side!
Thanks, i.m.t.d., for sharing this great news with the board. I notice the machine is aptly named "Thunderbird".
40,500 shares traded on 23 transactions doesn't suggest to me that anyone is running away with my money.
Tirebiter, your problem is that you continue to lump the new guy in with the old. One is a stand-up guy, and one is a crook, and you can't tell the difference!
KingStock, the initial investment might qualify as imprudent, but holding the stock could become a very wise decision here shortly.
And just what money do you think Jeff is counting. I suspect it is more like he goes back to the hotel each night and counts what he has spent trying to help shareholders!
There are many on this board who understand the legal aspects of this situation better than me. I would like to answer parts of your question from my perspective as a shareholder.
I owned GeoBio prior to the R/S because I thought is was grossly undervalued for two reasons. First was the outrageous naked shorting that went on with the stock. Second, I believe in the company and its ability to succeed with its business plan. This is largely ignored here because of the current situation. My initial shares are still underwater, but the ones I bought on Monday are doing very nicely, thank you.
As a previous shareholder, I was not consulted regarding the reverse split. This leads me to believe that retail holders are not in the majority in this company. Insiders apparently control such decisions. Under the current situations, I doubt that this is still true, however I think the company could continue to assert that there are only 2.4 million shares officially existing. This is one for the attorneys.
I believe the current R/S is a done deal and cannot be changed. That said, the company could do any number of things, including making a deal with ST by selling them enough newly issued shares to cover the millions that are short. There is no incentive to do that, especially at the current PPS. Keep in mind that when the PPS peaked on Thursday, many long term shareholders were just breaking even. The company will benefit with the rest of us if ST is made to cover their short position in the market, and I am sure they know this.
I suspect you will have change your handle to "RichDad" in that timeframe!
Scottrade would love that, but if it was to be halted, it would have to have occured on Monday when the mistake was discovered. SEC may give Scottrade more than T+3, but they will have to cover. The only question remaining is whether Scottrade will go after their own clients for selling shares they did not really own.
Excellent news, Tom! Tomorrow should be fun!
.0069 to .41, you do the math!