Making $$
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
LMAO!
I'm less concerned about who is in control than I am about meeting OTC requirements. Like I said, at this point I suspect regardless of who has control ---> this stock may be booted from the OTC.
I'm thinking we'll be lucky if this stock isnt delisted. I seriously doubt, regardless of who is in control, that OTCmarket's requirements will be met.
I swapped some ACCR for
That is funny!
BINGO!!! you can tell a lot about them just by speaking to management (or employees).
There's been some scammy ones though --- CAIB comes to mind, which was SAGN - Saigon Bank. I think the former CEO may still be in prison.
Saigon National Bank in Westminster at center of drug money laundering operation, feds say
CAIB continues to lose money (millions) yet remains well capitalized. (makes me wonder if its business as usual???)
When I made this post the stock was trading at $3.70. I must have bought some then cuz my avg cost per share was $4.23 before my last fills.
So the stock has doubled.
________________
Why own BAC when you can own MFBP???
Bank of America Buys Stakes in 3 Minority-Focused Banks
Quote:
SNIP: "The three investments announced Monday bring Bank of America's total to 10 under the program. Other recipients include M&F Bancorp..."
and this --->
M&F Bank receives $18M in equity investments from 4 largest US banks
Quote:
SNIP: "At the moment, M&F Bancorp, Inc. (“Company”) (OTC Pink: MFBP), parent company of M&F Bank, is the only minority bank to receive equity investments from the four largest banks in the U.S. M&F Bank, a wholly owned subsidiary of M&F Bancorp, Inc., intends to leverage this additional capital to grow its franchise and provide additional products and services to more efficiently serve its customers."
OTC PROFILE HERE
as you can see, market cap is around $15.5 million
HERE IS THEIR 2020 ANNUAL REPORT
Shareholder equity of $23,463,000 eoy.
Earnings of .52 per share on 2,032,031 shares outstanding
Book Value of ~ $11.54 per share.
I've been buying since the low $4's and recently added around $7.50
Their main challenge is prudent deployment of cash.
Good on you. Should do well.
A lot of the podunk regional banks are still attractively priced.
I was wrong about my entry in the low $4's. My avg cost per share is in the low $4's.
Why own BAC when you can own MFBP???
Bank of America Buys Stakes in 3 Minority-Focused Banks
Unfarking believable!
....and to think you could have bought another 300k shares at a nickle with that $$$$.
relax Mick -- this is kabuki theater and the fun is in the drama -- not any actual execution of anything.
Clones by Drones is absolutely ridiculous.
WTAF is going to order clones -- let alone by drones???
It's like thinking 3 pack a day smokers are going to start growing their own tobacco to save $$$
Pot is legal just about everywhere. In California we simply order online and within 30-60 minutes the product is at your door.
My wife just bought a new iPad Pro 11" with the magic keyboard and pencil. She's really enjoying it. I got jealous so I bought the iPad Pro 12.9" (with profits from pennystocks) with all the goodies and love it. Mainly bought it because my PC - which I am using now -- and use for trading --- is incapable of doing video editing.
I haven't actually done any video editing yet on the pad --- but trust/hope it will do the job.
That son is a computer science and engineering major (masters UCLA). Also, a HODLer.
I recommended some stock to him in the late 90's and something like 20 years later he was still holding it (missed some great trading ops)
He went on a piece of spec land with me and last year a guy wanted to buy us out -- he didn't care to sell. Low carrying cost (taxes). He would at 2 /12 to 3x the offer price we had though.
It's a sweet 6 acres with a creek running through it. This was taken several years back ~ mid September. That's my daughter holding one of her sons and my youngest son (now 26)
No hurry to sell. Oh, and should mention for Bar1080's sake that it was purchased with profits from penny stocks. (my part, that is)
I think my son who tried to get me to buy bitcoing in 2012 may have cashed in on some as he's now in escrow on a $900k home. He makes a pretty decent salary though, but I'm not privy to current income. When he worked in LA he was making ~ $180k per year - but whatever his salary, I suspect ---> cha-ching, on bitcoin --- but again, don't know for sure.
I've mentioned this here before, but the reason we do not discuss it is two or three years back he said" "dad, the first rule of crypto: never tall anyone how much crypto you own". So I dont pry. He's married with 4 kids.
Check out this guy's squirrel--->
https://vm.tiktok.com/ZMeGkrmrP/
Very cool. We had a pair of mallards that came around every year and would float around in the pool. My wife wasn't happy about it initially because of all the poop in the pool, but she became so enamored with them that she didnt let it bother her. One year they had ducklings in our back yard.
Then a few years ago the male was in the front yard squawking up a storm. My wife went outside to see what was going on. Asked Regenald (she named them Reginald and Lucy) what the problem was. He waddled over across the neighbors lawn to the corner and there was Lucy, she had been hit by a car. Haven't seen him since. Sad.
About a week ago my wife found a dead baby blue jay on the lawn in the backyard. She and my granddaughter went to bury it out by a tree. At the bottom of the tree was the little guy in the pic. I've been hand feeding it and suspect that within a week or so he'll be off on his own.
In the mean time, he's been a great little pal. He seems to like perching on my shoulder when we go for walks, but now that he's bigger he gets up on my hat for a better view.
ps... we have one (of our five) sons that also lives with us. He carries his own weight though. He has primary custody of his daughter, who also lives with us.
In case you didn't notice (and are still holding) the company bought back over 100k shares recently - or about 12% of the OS
https://www.otcmarkets.com/stock/UNTN/profile
(I called to verify after noticing)
BV now around $36 per share
You don't get it. Owning shares of ACCR are like buying tickets to the THEATER OF THE ABSURD only better, because everyday you can buy another bag of popcorn and kick back and watch the show.
If all you want is a couple of hours of entertainment then pass... and just watch Wafting for Godot
Next Q due in a week or so.
Crypto sinking and another filing due soon. Do you really think the next filing is going to be better than the last?
re: "Gave ya a foller - don't spend it on some sewer rat"
No worries.
I've been scouring the internet and found my next big winner. I'll be going all in on it tomorrow morning. Ticker = RNVA
Check it out!!!
JUST KIDDING...lol
ps, I'll return the foller
True that -- although it did look like Michael Burry was sweating it out a bit being early, as he was, with his BIG SHORT.
Nothing ever seems 100% certain when trading stocks and though I may enter some really risky plays --- I like to believe my speculation is prudent and worry more about downside than upside.
Just a brief follow up on UNTN mentioned here. UNTN by market cap is a pennystock - a NANOCAP - with a market cap of around $18 million
There was something like 850,000 plus shares outstanding.
UNTN has 3 branches in Newport Tennessee and has the most depositors in the area. The company has been in business since 1934. They make $$$. I just received a divy of .57 cents per share.
Well, for some reason I went over the the UNTN profile page on OTC Markets and noticed a huge reduction of shares -- over 100k less shares showing on the profile page.
Thinking it perhaps may have been an error I called the bank and the CEO confirmed to me that they had just repurchased over 100k shares.
Well, if anyone is interested they read their annual report here
I have continued to add shares with my last purchase being $24.21
and recalculate book value, eps, etc
Perhaps they want to take it private since no one seems to be interested. I believe the FDIC would frown on them taking it private (or selling) for less than BOOK VALUE --- which by my calcs is ~ $36.00 per share. (a nice premium to book would be preferred)
Thanks, and here's an amusing factoid.
I often share with others on iHub and SI the positions I'm taking and/or have taken and am amazed how it seems that no one sees what I see or has any conviction about the stock.
As a result, I end up being the subsequent buyer of the stock I've brought to others attention.
I made my post about my purchase in October of 2019 and the stock didn't manage to get about .03 cents until around June 10 of 2020.
... it appeared no one else was interested so I continued to bid for shares and buy at ask for months with no competition. (wife and sons bot some too, as well as one of my godsons)
Another good day for one of my
penny stocks
40 - 50 bagger so far
Here's a chart from when I was buying in Oct of 2019 --- it stayed under .03 cents until June 11 2020
Still HODLing some shares but gave some up for those eager to own. High today of $1.09
Patience grasshopper.
Whatever the story -- if you were a buyer here under a nickle then you probably should be taking some profits today. That said, the current market is still under $10 million so now the question is how high will they run it????
Notice anything different here
The most likely scenario in stocks like this (and generally best for shareholders) is the 35% owners get bought out and take their podunk business with whatever patents they have private and a new company comes in.
I can with 99% certainty assure they have been approached in the past.
little touchy today, eh folks?
No clue what a Submillemeter Wave Quantized Space Therapy Chamber is but according to the filings:
That's good news.
Something really weird going on -- so far this week not one of my pennystocks has gone up over 100%. Yeah, there's the 10% to 25% movers but COME ON --> how come they're not showing me the $$$$MONEY$$$ ???
Thanks for the update
Just sold my PMBC shares on buyout news:
Banc of California, Inc. to Acquire Pacific Mercantile Bancorp, Creating a $9.5 Billion Business Banking Franchise in Southern California
I never mentioned FUNC when I bought it at ~ $11.00 or MFBP at $3ish.
out of FUNC now.
Gobbled up shares of UNTN when it dropped last year and added to ALBY
Also bought some PMBC at ~ $4.00
More recently I bought CVCY $16ish but it moved up pretty fast and I sold out.
Been very actively trading; posting, not so much.
its 10:47 now and I just got up from my nap...and just bot 10k at a .054... and put a bid in for some lower. Time for a romp with the wife. BBL
But I only see the ones that I own.
I miss a lot of morning runs due to sleeping in on the left coast. Up early today though - and now ready to take a nap.