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First of all, you have no evidence that naked shorting is not included in the reported figure. Second, 5 million is a preposterously large figure. Most of the volume is wash trades and daytraders. But I can assure you, anyone who is naked short this stock knows infinitely more about it than someone who thinks the company is mining pure gold by the ton.
After Barry has taken you to school, I'm sure you'll still be crying about naked shorts. So sad. So predictable. Btw, you still haven't addressed any of my points about Raven's fundamental value (or lack thereof).
Sorry, the short position was only 1.4mm as of the June report (www.otcbb.com). If posting negative information about a wildly overvalued, heavily promoted, manipulated pile of OTC dung makes me a basher, then I proudly accept the title. Are you a promoter, insider, momentum buyer or just a mark? I'm guessing the latter.
Silverbullet, 300t/day refers to the amount of rock being run through the mill, not the amount of gold produced. Historical grades there are 2.59 grams per ton. 300 x 2.59 x 85% (the historical recovery factor) gives you 660 grams per day of gold production. A gram is .0322 ounces so 775 x .0322 is 22 ounces of gold production per day. And Raven has to share this with partner Tara. At best, Raven can earn 60% of the project but only after spending $3+ million, money that it doesn't have, by the way. Based on Raven's current interest of 25%, Raven's share of the gold revenue is aproximately $1.2 million per year. And that's before cash costs, overhead expenses etc.
300 t/day is a TINY mill by industry standards. Raven has one property and it's current interest is only 25%, no NI43-101 compliant reserves, no cash, negative book value, and yet it has a market cap larger of well over $100 million; that's quite a bit higher than partner Tara, which has multiple properties.
Today's stock price has nothing at all to do with value; it's all the stock promotion. Raven will probably announce a private placement shortly. My guess is that it is in the 80c/unit range with at least one and perhaps two warrants attached. This, of course, will be very bad for the stock price. My six-month target is 25 cents.
Buying opportunity? Why would ATOLL accept $4mm cash and 2 million shares of NNRF for 50% percent of their cash cow when there are 36mm shares of NNRF outstanding. NNRF is little more than a shell without ATOLL. It makes no sense. Something here smells very bad. Add in the Barry factor and I wouldn't touch this (except from the short side) with a ten foot pole.
Barry filed to sell almost a million shares...
Form 144: Filing to Sell 350000 Shares of Nucon-RF Inc (NNRF)
Jun 30, 2007 (Vickers Stock Research via COMTEX) --
Document Processing Date: June 29, 2007
Filer: DAVIS, BARRY
Relation:
Stock Name: Nucon-RF Inc
Stock CUSIP: 67034S107
Stock Symbol: NNRF
Exchange: OTC
Transaction date: June 19, 2007
Shares for sale: 350000
Value held: $2000000
Broker: 1ST DISCOUNT BROKERAGE
-------------------------------
Form 144: Filing to Sell 230000 Shares of Nucon-RF Inc (NNRF)
Jun 30, 2007 (Vickers Stock Research via COMTEX) --
Document Processing Date: June 29, 2007
Filer: DAVIS, BARRY
Relation:
Stock Name: Nucon-RF Inc
Stock CUSIP: 67034S107
Stock Symbol: NNRF
Exchange: OTC
Transaction date: June 19, 2007
Shares for sale: 230000
Value held: $1246000
Broker: 1ST DISCOUNT BROKERAGE
------------------------------
Form 144: Filing to Sell 330000 Shares of Nucon-RF Inc (NNRF)
Jun 23, 2007 (Vickers Stock Research via COMTEX) --
Document Processing Date: June 22, 2007
Filer: DAVIS, BARRY
Relation:
Stock Name: Nucon-RF Inc
Stock CUSIP: 67034S107
Stock Symbol: NNRF
Exchange: OTC
Transaction date: June 18, 2007
Shares for sale: 330000
Value held: $2000000
Broker: 1ST DISCOUNT BROKERAGE
The chart screams "MANIPULATION!!! SCAM!!!"
But since you're so excited about accumulating this stock, how about explaining why it's such a bargain at these levels. And please tell me how they are going to fund the large exploration expenses that they've committed to given that they have no cash.
I'm not a hater and to prove it I'll give you a real spec with almost the same market cap. PLG on the TSX. Let's see, they own 20 million shares of Detour Gold (about 50%) which has a resource of 5 million+ ounces headed for 10 million and run by the wildly successful Hunter Dickinson group. PLG also has a enormous 411 square kilometer exploration property in Ghana right next to the massive Obuasi mine in the Ashanti gold belt, one of the most prolific areas in the world. And they have $5mm in the bank to fund it. PLG puts RVNG to shame. But that isn't surprising: if you look in a landfill (the otcbb), you're gonna find lots of garbage like RVNG.
Btw, just because YOU can't short an otcbb stock doesn't mean that it can't be done. Spouting nonsense like that isn't gonna help your street cred.
You very well could get your $2. The problem for longs is this: when the stock really starts to tank, there will be no way to get out. Let me repeat that. NO WAY TO GET OUT, at least not anywhere close to the market price. If you tried to sell on the way down today, you got a taste of that. Bids disappear and market makers simply refuse to honor their bids. You could see the tension today. The stock dipped three times and everyone is thinking, "Is the game (yes, it's a game. look at the chart) still on?" Then the support comes in and the market makers line up to scalp the momentum buyers. When the game ends (and all but the complete amateurs know it will) and the panic sets in, they're gonna make you pay dearly to get out.
The bottom line is, the company is crap and the risk-reward here just isn't good, all imho.
RVNG is a screaming short. Anyone watching the trading activity can tell that the stock is being manipulated higher. Unfortunately for longs, there is no substance here. They have no cash and until they fund the deal with Tara, this is effectively a $110 million shell. Tara gets a free ride on La Currita and keeps 40-75% interest of it, has four other properties including Las Minitas which it took back from Raven, and Tara's market cap is around $80 million.
Expect the announcement of a dilutive, way-below-market financing deal. Anyone buying here is bagholder imo.
You either don't know the difference between revenues and earnings or you are purposely trying to confuse the two. And no, I won't stop complaining. I've only been able to get a very small short position and I'm not happy about it. Where do you have your stock? Maybe I can borrow it there.
$2 on its way to 2c
Hey Arby,
You still around? Just curious if you were averaging down.
I've stopped out/boxed most of my short at a small loss. This round goes to the pumpers. But I'll be back.
Petermic is in this one, eh? Looks like it's time to start a short position. I think this is TNEN part deux and that one turned out quite nicely. Congrats, Scotty, on yet another successful promotion.
Nice conversation you're having with yourself. Isn't that a TOS violation?
For your information, I am up on my initial position as posted on this board and have added to my profit by trading around it so please laugh all you want. They had a good laugh at me on the VOYT board too. He who laughs last...
15 million shares of cheap stock is now free trading. So much for your tight float.
Oops. All it takes is greater liquidity and this stock tanks. Still extremely overvalued. See you much lower.
Hilander,
Sorry, I'm not a member so I don't have pm capability. If you bought this stock because of a mailer, I think you're in for a rude awakening. Follow the money.
Here's the math. But units at 4c. Exercise warrants and sell stock. If you can get .62, you make 58c on the stock and 55c on the warrants. That's a 2,825% return...before expenses, of course. (You've gotta pay the Fraser empire to promote your stock.) Still, quite a nice return in six months. Isn't the OTC market great!
from the 10q:
In November and December of 2006, the Company sold 20,600,000 equity units in a private placement. Each unit consisted of one share of the Company’s common stock and one warrant for the purchase of an additional share of common stock. The per-unit price was $0.04. The exercise price of each warrant is $0.07. The warrants will be exercisable between April 1, 2007, and the one-year anniversary of the closing of the offering. The net proceeds of the unit sale was $823,980. In January 2007, the Company sold an additional 4,700,000 units with net proceeds of $187,940.
...
Warrants Issued
At March 31, 2007, there were warrants to purchase 25,300,000 shares of the Company's common shares outstanding. The exercise price of the warrants is $0.07 per share. The warrants are exercisable and expire March 31, 2008.
CFUL, I see your future and it looks like ESRG and BTEM.
Sorry, no longer long and shorting on the way down. There is tons of very cheap stock and warrants in this one and the promotion has lost its momentum.
>>it's all "three-card monte"
The stocks you promote, err, play, that's probably true.
>>this one has verifiable REAL ASSETS
Whoa, assets! Imagine that. Any company with "REAL ASSETS" must be worth at least a billion or two. I mean, c'mon! Assets, man. Real ASSETS. Wow!!!
BTW, what else you like? Got anything that hasn't already been pounded into oblivion? Looking at your posting history, I see you're quite an amazing contrary indicator. It's ironic that most of your stocks are trading under a penny cause that's where CFUL is headed.
ROFL. Get a conscience. You should be ashamed of yourself for pumping this garbage. Please explain to me how taking assets from UPDA and putting them in a shell suddenly makes them 50+ times more valuable? Oh, that's right, share structure <mumble><mumble>. This is the three-card monte, OTC style.
You're not fooling anybody.
Look out below.
I think it was Mark Twain who said, "Better to keep your mouth shut and be thought a fool than to open it and remove all doubt."
I gotta admit it's pretty hard to argue with logic like that.
See you at 5c.
KM,
I have some bad news for you. Sometimes newsletter writers, even reasonably good ones, will put their names on a stock in order to attract interest subscribers to their newsletter. Read the fine print. Are you a subscriber to his newsletter and have access to his model portfolio? I'd be shocked if CFUL shows up there.
Now, let's review some facts.
1. CFUL is issuing preferred stock to UPDA that converts to 500mm shares. According to the 10Q, UPDA effectively owns 77% of CFUL
2. At the current CFUL price, the value of that stake is $1.5 billion.
3. UPDA, according to the recent 10k, has roughly 500mm shares outstanding. UPDA currently trades at 6c but has traded as high as 16c in the last year. That gives is a market cap of between $30mm and $60mm even at the high.
Now, if Brownsville was worth <$60mm when it was owned by UPDA, why should it be valued at $2 BILLION when that ownership is transferred to CFUL?
Or look at it this way. If you're so bullish on CFUL, just buy UPDA. You get ownership of the same assets and it's more than 50 times cheaper.
One more sanity check. According to the filings, the value CFUL and UPDA placed on the transaction is $7.5mm--$2.5mm in cash and the rest in convertible preferred stock. How can something fairly valued at $7.5mm suddenly be worth $2 BILLION?
It can't. It isn't.
From the 10q:
On March 15, 2007, the Company entered into an agreement with Crosscheck Capital, LLC (“Crosscheck”) to pay aggregate advance retainers of $525,000 to prepare and distribute to no less than 500,000 US residents an advertising/advertorial mailing package that prominently features a report on the company. As of March 31, 2007, the Company has remitted $150,000 of the advance retainers due to Crosscheck. The remaining amount, $375,000, was paid in April 2007.
So the company has no cash and is converting stock at 0.001, but somehow manages to spend $525k to promote the stock. Wow.
Keep pumping. This stock is clearly being manipulated. Who knows, maybe you're in on it. When it collapses, it's gonna be vicious.
I really don't understand what your point is. CFUL is doomed because they issued way, way too much cheap stock. There is simply no way they will be able to earn enough on the modest assets they acquired to justify the valuation. The stock had some appeal as a momentum, low-float squeeze play, but now the stock is broken. Someone sold out and who can blame them?
I'm not saying it's going straight down, but that's the trend. 50c within six months and even lower longer term. That's reality, imo.
Perhaps, but so what? Upda effectively owns 77% of CFUL. If CFUL is a wild success, it isn't going to be common sharesholders that reap the benefits. And besides, even without the UPDA preferred, CFUL has way over 100 million shares!
1.2 cents (yes, cents!) is more like it. The fully diluted share count is over 650 million shares which puts the market cap at approximately $2 billion (yes, billion with a "b"). So what do you get for $2 billion? Well, according to the pro forma balance sheet, $1.2 million in cash $1 million in net PP&E for a total of $2.2 million in tangible assets. This is offset by the $3.5 million note so tangible book is negative.
From the 8k on 4/26:
>>
On April 25, 2007, the board of directors of the Registrant approved the conversion of an aggregate of one hundred thousand dollars ($100,000) of outstanding notes of the Registrant (the “Notes”) into shares of the Registrant’s common stock. Based upon the current assets and capitalization of the Registrant, the conversion price of the shares of common stock to be issued upon conversion of the Notes was valued at $0.012 per share by the Registrant’s board of directors. The conversion of the Notes to shares of the Registrant’s common stock is at the discretion of the Note holders.
The eventual full conversion of the $100,000 in Notes to common stock will result in the issuance of an aggregate of 8,326,115 restricted shares of our common stock.
<<
>>
As described in Item 3.02 above, pursuant to the terms of the SPA, on the Effective Date, through the issuance by the Registrant of the Preferred Stock to UPDA as part of the Purchase Price paid by us for the Subsidiary Shares, UPDA received the right to vote the equivalent of 500,000,000 shares of our common stock in any matters for which the holders of our common stock are entitled to vote. On the Effective Date, the Registrant had approximately 149,815,833 shares of common stock issued and outstanding. As a result of the issuance of the Preferred Stock to UPDA, on an “as converted” basis, UPDA has the power to vote the equivalent of 500,000,000 shares of our common stock. Therefore, UPDA currently has the power to control the vote of approximately 77% of the voting stock of the Registrant.
<<
CFUL is one of the most overvalued pieces of dung ever perpetrated on the American public.
I didn't insult you when this POS was going your way. If the worst I do on the trades I post here is a small profit (especially when others like QEGY and CSHD fall 90%+), I think I'm doing ok. And I don't even have to encourage others to buy total crap to do it.
Well, that wasn't fun but every sell I made on ZROS is now green. Whatta pump-n-dump.
Pump away, dude. You and I both know the truth.
I seriously doubt it will be less than 20cents that quickly but you never know with otc garbage.
Btw, how's that BKMP working out for you?
BNVI broke below the 50dma and is now in rollover mode. Valuation and momentum clearly favor short side. I'm holding short to at least three.
Covering some SOEN on the way down but holding some for lower.
Nice news today. 77+ requests for information, eh? Very impressive. I wonder how many of those requests are from shareholders? I wonder how many of those people even have the ability to spend $25k on their credit cards, let alone the cash to buy a franchise?
With over 77 information requests received, eAutoDrop franchise locations would render nearly $2.0M immediately upon its approval from the UFOC and FTC to begin franchising.
Sounds like counting yer chickens before you even have eggs.
Yeah, it's a really bad idea to listen to lemon. They've written up a few of these auction businesses in the past. Let's have a look at the how the stocks have done since the reports.
BZCN 10/4/06
$2+ to .20
ESCL 1/6/06
$20+ to $4
NAUC 5/26/06
$4.50 to 0.005
RCAU is, as they say, next.