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I agree, but days like these are to be expected. Unless we drop down to where we were in the .02 range, there's nothing to worry about. One person at these "undiscovered" levels can and will have an impact on share price daily. But they will not be able to stop the train when the filed numbers hit...
It's all an illusion. Turn level two off and go enjoy your day. There's seemingly a very determined seller, so let's let him do his thing, Eric will do his thing and we'll see who is smiling in the next month or so.
Just finished changing my Depends... I've been way too busy with work and have decided not to watch every tick of level 2 for a bit since we were sort of trending downward for the time being. I just pulled up level 2 right now and read through some posts, and wow, what a dramatic day. But all is still well with the company, nothing has changed. They are not diluting, they are not scamming. We haven't had many days like this since the reverse merger, but they are to be expected. I know we will recover and continue to move up. Congrats to all who were able to add more shares today. Someone else's trash is someone else's treasure!
Yet WAMUQ continues to trade. Weird.
That's why I don't do my own taxes...
As always another great post. I got my numbers off otcbb trade volume report. I wanted to put it out there for reasoning, just as you did, to see where we are. I agree that the reports don't show every share. My numbers were the bare minimum based on the numbers off the report. After reading your post and reasoning, we have to be at or near the end of the rainbow. I have a feeling we'll know the moment the overhang runs out.
It sure seems like they, being the board of directors, and the amount of controlling shares they have don't need to do anything. If so, it may just be a formality of them "holding a shareholder meeting" where the two of them are the quorum and pass it. I guess we'll just let attorneys do their job, and wait like kids knowing Christmas is right around the corner.
Just doing some sleuthing, and I saw that going back to July of 2009, VNDM has not been a MM on this stock until December of 2009, when the reverse merger took place. Since December of 2009 through end of February 2010, they have accounted for 24,670,996 shares. Obviously they've done a bunch more in March which we won't know until the end of the month.
Lastly, the other known institutional MMs (to me at least) have done the following Dec through end of February:
LFCM: 54,055,820
DOMS: 1,807,090
BMAS: 12,327,361
VFIN: 4,366,204
ABLE: 7,354,597
Unless NITE has been doing some of the 200 million share overhang, I come up with a total of 104,582,068 shares by known institutional MMs that more likely than not are the 200 million share overhang. The only MMs I excluded of any significance (over 1 million shares traded in a month) was UBSS (17,858,229 Dec through Feb - not sure if they're retail and/or institutional), AUTO (4,953,011 Dec through Feb) and of course NITE (203,072,754 Dec through Feb)
Draw your own conclusions, and feel free to add or correct anything I've posted.
You're right, but then if you read a little further there's this. To me, it all hinges on what's in their articles of incorporation. I'll see if I can dig those up online. Doubt it, but I'll try.
17-16-1005. Amendment by board of directors.
(a) Unless the articles of incorporation provide otherwise, a corporation's board of directors may adopt amendments to the corporation's articles of incorporation without shareholder approval:
(vi) To reflect a reduction in authorized shares, as a result of the operation of W.S. 17-16-631(b), when the corporation has acquired its own shares and the articles of incorporation prohibit the reissue of the acquired shares;
17-16-631. Corporation's acquisition of its own shares.
(a) A corporation may acquire its own shares and shares so acquired constitute authorized but unissued shares.
(b) If the articles of incorporation prohibit the reissue of the acquired shares, the number of authorized shares is reduced by the number of shares acquired.
(c) The board of directors may adopt articles of amendment effecting the provisions of this section under article 10 of this act without shareholder action and deliver them to the secretary of state for filing.
And I think that's why things take time to get done legally, because if you press your attorney too much to get it done, they charge and "expedite" fee on top of their already outrageous hourly fee. What's said is there's such a negative opinion on most attorneys because of the ones like you dealt with. But I in my business have worked daily with attorneys for 15 years and 90% of them are decent, hard working people trying to do their job. It's that 10% that ruin the reputation of all attorneys as being thieves, liars, cheats, swindlers and smarmy.
I'm in the legal field, and attorneys always take their time. Any time I call my corporate counsel to research something as simple as this, it's a minimum of 3 hours *billable time* and usually takes them the better part of a week or two to get an answer back to me.
Did some DD on Wyoming state law, and I read through Title 17 relating to businesses, and from its face there is no language by the state requiring any company to hold a vote to increase or decrease authorized shares. In fact, it seems it's solely based on the articles of incorporation or the bylaws. So my guess is once an attorney sees what I saw and then reviews the company's bylaws/articles of incorporation, we'll get the monster PR we're waiting for.
In case there are any other legal eagles who want to read up on Wyoming state law, here's the link to Title 17, chapter 16:
http://legisweb.state.wy.us/statutes/statutes.aspx?file=titles/Title17/T17CH16.htm
And worth noting on this subject is we don't want Hannover overextending themselves. Look at how much debt Lions Gate has. That's called overextension. Not sure where Lions Gate's 800 million in debt came from, but I'd venture a guess that some of it came from buying a few too many "mid seven figure" films that didn't work out so well for them. People can say what they will about the quality of films being acquired by Hannover now, but at the end of the day profit and growth are fundamental to a successful business.
Under promise and over deliver is the new black...
Looks like they tried to mask the 1.2 million buy with held back orders. To a certain MM, it's all about the perception right now. But that $57,000 order at close was a biggie. Won't show now in the closing price since we're red, but tuck that one in the back of your mind, it may mean something...
Ain't that the truth. Just trying to encourage the newest of the investors here that we've been here before...
Is it me or does this seem like Ground Hog day all over again here? We all waited and waited during the consolidation in the .02s. I saw the same comments from many people similar to what we're seeing here now in this range. I know history is no indication of the future, but it sure seems like we've been here before. And I'll bet after our next move up, Ground Hog day will repeat itself all over again. But consider ourselves blessed that we get to experience a Ground Hog day rather than a blood bath and carnage day.
Funny to watch the momentum run through different stocks. That company could have turned $1,000 into $5,500 if you bought Monday and sold today. Most aren't smart enough to do that, but some are :)
Didn't know he had these. We just watched Treasure Island with our kids a few months back. In their own way, they are classics - though some may disagree. But they're timeless films nonetheless.
Man, you should get Eric to hire you at Hannover to PR all their material. I mean, your non stop. That's awesome and I appreciate it. I just spent some time on Hannover's Facebook page, and what's funny is there is a ton more info in the ibox here than on his page. But what I noticed is conspicuously missing is any reference to Secret of Kells. I believe he's waiting to PR that before he places it on his Facebook page.
Maybe you ought to start a Rainmaker's Facebook Page (dedicated to Hannover House) and just start adding all the ibox stuff one by one to the wall/news feed there. Bet Eric would get be thrilled with it and would love the extra publicity.
Thanks for all you do.
Jeff
I'm with you on that, just trying to help pass the time while we wait. On the list of important things about Hannover, this is way, way low on the list of things to worry about. These matters always work themselves out.
Just like in the movie Office Space, the "glitch will be fixed shortly"
Nice, although they may be doing the opposite of what we all think. Remember, people with large orders are privy to info we aren't and are able to accumulate in ways that seem unfair to us. I think it's possible someone is using VNDM to accumulate a large, massive order without spiking the price. It makes NO sense for someone to be continually shorting this stock. After the first run up, they would have lost most of their money and should have done some due diligence. It makes no sense why anyone is short this stock now. I can't believe someone who would use an institutional market maker is that dumb. Hey, but maybe I'm dumb...
Thanks for the info.
VNDM - different thought.
Anyone think that VNDM might not be shorting, but may be buying/accumulating for a client? Wouldn't it be wise for someone with an exceptionally large order to hire a firm to allow them to accumulate a large position in an undervalued stock with the float nearly locked without shooting the price insanely high? Could this be what's happening? Market makers always have accumulation strategies to maximize their client's purchase which involves capping the amount the stock will run when a large buy order occurs. It happens all the time, why couldn't it be happening here? School me please...
Why doesn't someone with a spare minute today find some contact info for Vandham Securities and call them or email them and see if you can find out what their position is in TDGI -- if it's a private client or they're selling what's left of the 200 million debt overhang shares. If you're nice, you never know what they may tell you. The worst they can say is no...
Maybe Eric would like to read that post. Might help him craft the timing of his upcoming PRs.
I would love to know how they know this. Very interesting to say the least.
That is the problem, but now it looks like we have undercutting by other MMs - possibly retail flippers - who are selling below VNDM. My two cents was the market makers are trying to undercut VNDM who is the big ugly elephant in the room with seemingly an unending supply of shares to sell. Of course we all know that is has to end, and it will end soon...
No worries here. Remember, we have info that the public at large doesn't have. Nothing secret, but 99.99% of people don't realize the filing stating a 93% reduction in A/S is in the works. As Rain and others have said, I've seen stocks fly based on that alone let alone the other juicy meat that was in that filing. I think Eric is waiting to "maximize" shareholder value on PR'ing that, and probably also waiting until it's actually done.
My two cents is it looks like the other MMs - NITE and others - are trying to get shares below VNDM's ask to sell to VNDM at a higher price.
Great buying opportunity at .047!!!! You know the filing PR is coming any day now...
Thanks for posting...
Thanks...
It's all about the "crowd factor" People want to be where the excitement is, even if it means they lose. We are truly on the road less traveled, only for now. But as I'm sure you and most of us are keenly aware, we will have the last laugh with this one. Our day will come, and it will come big.
This mentality all goes back to the Facebook post we read from Hannover today where they have been contacted by stock promoters. Stock promotion is a huge business and creates tons of hype. Our CEO is not interested in that and therefore neither should we. But these other companies are, and of course they garner all the attention with their half truths and fluff. But ultimately they get slaughtered, only to take their money to the next hidden loser that gets promoted to them. This is a think for yourself stock. That's why I really liked seeing a person like TMJ asking all the questions he did, he fits that mindset of an investment like this.
Is the Transfer Agent gagged or ungagged? Anyone know?
I'm with you on this. But remember, when the music stops -- and it will, all that dollar volume means nothing. If they are a share selling scam, by percentage the vast majority will lose and lose big. Look at EWRC, same situation setting up with that stock too. Here on the other hand, when the music stops, we will have the exact opposite effect. Darn frustrating to see people potentially wasting their hard earned money on junk like that all the while real beauty and value sits here waiting to be discovered. The story on this stock is almost like a typical hollywood movie. The undiscovered gem will win in the end.