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Agreed on all counts, I am not in this for the flip on news. Holding strong through the next year at the very least, pending any catastrophe.
Just expected today, no time specified.
8k or PR related to RM and then 8k shortly thereafter.
In short, either, or both.
Well it does look like it is on a rebound, I'll give you that much. You might make out on that one in the long run, even if you are holding a heavy bag at the moment. I don't know if it is the "investment of a lifetime" though.
I seriously don't know what your problem is with LOCN. Why you choose to harass this board day after day?
I agree 100%, I hope they get put through the wringer.
I hope you are correct, however my gut tells me there are plenty of people who still had a lot more invested in this at much higher levels and now are holding heavy bags.
SAEI was an expensive trading lesson for some IMO.
Sorry you got taken here, but as I said to you before, from what I can tell by reading your posts you are an intelligent trader and I am confident you will gain your losses back on future plays. GLTY!
Indeed, it is serious. I wish the stock would trade at these levels after the suspension is released so those who still hold shares can minimalize their losses. Unfortunately, I don't believe that will be the case.
Folks who are still in this had 4 full trading days of honest traders coming in here pointing at very large and bold red flags, telling them to sell and minimize their losses before the SEC suspends the stock. Anyone who chose not to is learning a very vaulable lesson here.
From http://www.sec.gov/answers/tradinghalt.htm
Trading Halts and Delays
Securities exchanges, such as the New York Stock Exchange (NYSE) as well as the Nasdaq Stock Market, have the authority to halt and delay trading in a security. A trading halt—which typically lasts less than an hour but can be longer—is called during the trading day to allow a company to announce important news or where there is a significant order imbalance between buyers and sellers in a security. A trading delay (or "delayed opening") is called if either of these situations occurs at the beginning of the trading day.
There are two types of trading halts and delays—regulatory and nonregulatory. The most common regulatory halt and delay happen when a company has pending news that may affect the security’s price (a "news pending" halt or delay). By halting or delaying trading, market participants can have time to assess the impact of the news. Another type of regulatory halt happens when a market halts trading in a security when there is uncertainty over whether the security continues to meet the market’s listing standards. When a regulatory halt or delay is imposed by a security’s primary market, the other U.S. markets that also trade the security honor this halt.
Nonregulatory halts or delays occur on exchanges, such as the NYSE (but not on Nasdaq), when there is a significant imbalance in the pending buy and sell orders in a security. When an imbalance occurs, trading is stopped to alert market participants to the situation and to allow the exchange specialists to disseminate information to investors concerning a price range where trading may begin again on this exchange. A nonregulatory trading halt or delay on one exchange does not preclude other markets from trading this security.
You can find out what stocks have had their trading halted on the NYSE and the Nasdaq Stock Market, as well as on the OTC Bulletin Board.
The SEC does not halt or delay trading in a security for news pending or order imbalances, but it can suspend trading for up to ten days and, if appropriate, take action to revoke a security’s registration. For more information about the SEC’s authority to suspend trading in a security, please read "Trading Suspension! When the SEC Suspends Trading in a Stock" in our Fast Answers databank.
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From http://www.sec.gov/answers/tradingsuspension.htm
Trading Suspensions!
When the SEC Suspends Trading in a Stock
The federal securities laws allow the SEC to suspend trading in any stock for up to ten trading days. This document answers some of the typical questions we receive from investors about trading suspensions.
When can the SEC suspend a stock from trading?
When it serves the public interest and will protect investors, the SEC may suspend trading. For instance, the SEC may act when public information about a company is not current, accurate, or adequate. The SEC has acted when serious questions arose about a company's assets, operations, or other financial information.
Why couldn't the SEC forewarn me that it was about to suspend trading before I bought the security in the first place?
The SEC cannot announce that it's working on a suspension. We conduct this work confidentially to maintain our effectiveness and to guard against the destruction of evidence if our work becomes widely known. Confidentiality also protects a company and its shareholders if the SEC ultimately decides not to issue a trading suspension. Mindful of the seriousness of suspensions, the SEC moves as quickly as possible when it considers a trading suspension.
What happens when the ten-day suspension period ends? Will the SEC issue a statement about the status of the company after the suspension has ended?
No. The SEC will not comment publicly on the status of a company when the ten-day suspension ends because the company may still have serious legal problems. For instance, the SEC may continue to investigate a company to determine whether it has defrauded investors. The public will not know if the SEC is continuing its investigation until the SEC publicly announces an enforcement action against the company.
Will trading automatically resume after ten days?
It depends on the market where the stock trades. Different rules apply in different markets.
For stocks that trade in the OTC or the over-the-counter market, trading does not automatically resume when a suspension ends. (The OTC market includes the Bulletin Board and the Pink Sheets.) Before trading can resume for OTC stocks, SEC regulations require a broker-dealer to review information about a company before publishing a quote. If a broker-dealer does not have confidence that a company's financial statements are current and accurate, especially in light of the questions raised by the SEC, then a broker-dealer may not publish a quote for the company's stock.
In contrast to OTC stocks, stocks that trade on an exchange or Nasdaq resume trading as soon as an SEC suspension ends.
If the suspended stock resumes trading, why is it trading at a much lower price?
The trading suspension may raise serious questions and cast doubts about the company in the minds of investors. While some investors may be willing to buy the company's stock, they will do so only at significantly lower prices.
Why would the SEC take such action when it knows it will hurt current shareholders?
Because a suspension often causes a dramatic decline in the price of the security, the SEC suspends trading only when it believes the public may be making investment decisions based on false or misleading information. Suspensions give notice to current and potential investors that we have serious concerns about a company. A suspension may prevent potential investors from being victimized by a fraud.
How can I find out if the stock will trade again after a suspension?
You can contact the broker-dealer who sold you the stock or a broker-dealer who quoted the stock before the suspension. Ask the broker-dealer if it intends to resume publishing a quote in the company's stock.
If there is no market to sell my security, what can I do with my shares?
If there is no market to trade the shares, they may be worthless. You may want to contact your financial or tax adviser to determine how to treat such a loss on your tax return.
What can I do if the company acted wrongfully and I have lost money?
To get your money back, you will need to consider taking legal action on your own. The SEC cannot act as your lawyer. You must continue to pursue all of your legal remedies. For more information about how to protect your legal rights, including finding a lawyer who specializes in securities laws, read our flyer, How the SEC Handles Your Complaint or Inquiry.
To learn how to file an arbitration action against a broker-dealer, you can contact the Director of Arbitration at FINRA or the New York Stock Exchange. FINRA and the NYSE also offer mediation as an option before going to arbitration.
Where can I get information about trading suspensions?
You can find a list of companies whose stocks have been suspended by the SEC since October 1995 on our Web site.
How can I learn more?
We offer educational materials so that you can understand how the securities industry works and how you can avoid costly mistakes and fraud. Our educational materials also provide tips on how you can invest wisely. You can order our free publications by calling (800) SEC-0330, or read them on our Web site. For specific information about the risks of investing in low-priced stocks, see our publication, Microcap Stock: A Guide for Investors.
Additionally, this is from from http://www.sec.gov/answers/tradingsuspension.htm
Why would the SEC take such action when it knows it will hurt current shareholders?
Because a suspension often causes a dramatic decline in the price of the security, the SEC suspends trading only when it believes the public may be making investment decisions based on false or misleading information. Suspensions give notice to current and potential investors that we have serious concerns about a company. A suspension may prevent potential investors from being victimized by a fraud.
If you think this company is not a scam after the numerous allegations and the SEC suspending trading, you certainly have a lot to learn. GLTY.
I disagree, a buyout offer has everything to do with PPS.
Please, show me one example of a stock's PPS dragging at 5% of a buyout offer which turned out to be legitimate. When you can do that, we will talk further.
Same here, never invested here, never planned to. Only posted simple facts that were plain to see from the outside looking in. Unfortunately they seem harder to accept when you are on the inside and blinded by the promise of profits.
I honestly hope those who lost here will earn their money back in other plays. GLTA!
Problem is that SAEI isn't halted, it's suspended. There is quite a difference between the two. Do some DD on the subject matter.
You still haven't answered my question as to why this article you refer to means more than the actions of the SEC. And why this article holds more weight than the others which accuse SAEI of fraud. Please refer to a reprint of my post below and answer my questions.
"Which article are you referring to? And why do you chose to believe this article over the actions of the SEC?
What about the article written saying that the geologist in the NI 43-101 never performed services?
How about the article where Prokhorov denies making any offers to purchase SAEI?
And the article by Wallstreet Bulls where they rescind their backing of SAEI, state that they feel duped by the company, and they are willing to take legal action against them?
What does your holy grail of an article have to say about any of those allegations? I don't know what article you speak of, but my guess is it ignores all of them. "
If there was any truth to the $2.50 offer, the PPS would not have been below 5% of that value for the 4 trading days follwing the offer.
If you choose to dispute this, please show me one example where a buyout offer drove the PPS that low.
I have had a lot of "SAEI longs" make very nasty accusations towards me, saying I am a naked shorter and a basher for pointing this out, which I really don't appreciate. If anyone can prove my observation wrong, I will gladly stop posting here. If not, I would appreciate not being accused for shorting this stock simply because I have an observation.
Which article are you referring to? And why do you chose to believe this article over the actions of the SEC?
What about the article written saying that the geologist in the NI 43-101 never performed services?
How about the article where Prokhorov denies making any offers to purchase SAEI?
And the article by Wallstreet Bulls where they rescind their backing of SAEI, state that they feel duped by the company, and they are willing to take legal action against them?
What does your holy grail of an article have to say about any of those allegations? I don't know what article you speak of, but my guess is it ignores all of them.
The chances of the $2.50 buyout offer being legitimate are equal to the chances that Santa Claus is visiting my house on December 25th. By the way, I'm a Jew.
Sorry buddy, the PPS was driven to less than 5% of the buyout offer. This does not happen, ever, if the offer is legitimate.
IMO, this won't "open up" again, and if it does, it will be a long time from now. Any "longs" who stil hold shares have no choice but to hold now as the stock is no longer being traded.
Please stop. There is no "vindication" for this company. If anything, there is "vindication" for all those who were called bashers (like myself) and accused of naked shorting this stock when no such thing was going on. Maybe now folks can realize that this is a discussion board and others jumped in to point at the red flags being waved without any kind of monetary motivation.
Yes, it happens, there are folks who point out a scam for the sole purpose to help others not lose their hard earned money.
I guess Bloomberg, the NY Post and all the other sources you listed yesterday didn't get it wrong this time. Just because they backed Lehman Bro's before they failed doesn't mean they consistently back losers with positive ratings. Few people saw the collapses coming ahead of time, took many people by surprise.
Anyways, I'm sure you have a bitter taste in your mouth, so I'm not trying to gloat, just hope you see the mistakes you have made and you can learn from this experience for your future trading decisions. GLTY.
You obviously have made up your mind, I really have nothing more to say. I wish you the best in your future trading decisions.
I will move on, I'm sorry an outsider's point of view is dismissed so easily by the "hope" of bagholders. Good luck to all of you here.
First of all, none of the coverage you refer to is positive.
Second of all, there is a possibility that this guy "rushed to discredit this bid offer" because it's fake, no? I mean, it's only reasonable that he would do so. But ok, you think he is lying to throw investors off, whatever.
Finally, the PPS is still less than 5% of the $2.50 buyout offer made over 3 days ago. There is nothing more to be said. GLTY.
Do your own research. If you are buying this hoping for $2.50/share it's NOT HAPPENING. The buyout offer was over 3 full trading days ago, and PPS is currently less than 5% of that offer. This is NOT due to speculation, fear, skepticism, etc. It is due to fraud, plain and simple.
$35,000,000 of flipping by shorts/day traders is nothing. There is no promise for 100x reward. The only thing I see happening to this stock in the next month is either triple zero's or grey sheets.
All my opinion, you of course are entitled to your own, but I plead you to tread carefully on this stock. There are many different fraud allegations here; it's not a group of bashers telling stories. The geologist named in the NI 43-101 even came out and said he never performed services. If that means nothing to you, good luck to you because you will need lots of it.
There are hundreds of stocks, both big board and penny, that have a risk/reward ratio that is more heavily in your favor. Not only is the risk potential lower, but the reward potential is higher.
There is NO REASON to trade this stock. If you are already invested, that is one thing, but anybody who is JUST NOW BUYING needs to get their head checked. There are so many red flags its ridiculous.
From http://thewallstbulls.blogspot.com/
Tuesday, December 14, 2010The Wall St Bulls Official Statement Regarding Supatcha Resources Inc.
The Wall St Bulls Consultant Group, Inc. (“The Wall St Bulls”) would like to take this time to give our official position and statement regarding our relationship with Supatcha Resources Inc. We officially and publicly state that we no longer represent Supatcha Resources, Inc. (“Supatcha”), in light of the numerous allegations that have recently surfaced against Supatcha, and as a result of Supatcha’s numerous breaches of their Consulting Agreement with us.
We further wish to clarify the nature of our prior communications with Supatcha. Our communication with Supatcha has always been limited solely to emails. We have never once spoken with management in person or over the phone. All of the information we have provided on our website, blogs, and on message boards has been gathered strictly via the internet, third parties, and from press releases issued by Supatcha. We never received any prior knowledge of insider information that would have affected our opinions concerning this company in the past or present. Nor did we believe this was a fraudulent company when we signed our Consulting Agreement with Supatcha. If we had, we would have never been involved.
We further wish to address a number of unsubstantiated rumors that have been spread about our company and the services we provided to Supatcha. To be perfectly clear, we have never written a single press release for Suptacha, and have never received a single press release from Supatcha prior to its public release. We have never received insider information from Supatcha, and we never had any knowledge that this company was fraudulent before, or during, our agreement with Supatcha. We refute any claims that we are a part of this company and its alleged illegal activities, and we do not appreciate the derogatory comments or statements made on internet message boards along those lines. We have been both shocked and disappointed in Supatcha for trying to exploit us for their benefit, and will be looking into any and all legal avenues we may have to pursue Supatcha Resources for their activities.
Furthermore, we have not sold any of the 4,000,000 restricted shares we received as payment under our Consulting Agreement, per SEC Rule 144 regulations. We are unable to sell these shares until our restriction period is up after 6 months and we receive an official opinion letter and proper filing with the SEC to do so. At the present time our shares are held in escrow in hard cert form with our attorney until the 6 month period expires.
In closing, we feel that we have been duped by Supatcha, just as many of you feel you were, and we will gladly testify in court as well as provide all information to the proper authorities if and when it is needed.
If any investor, or person wishes to contact us, you may do so via email contact@thewallstbulls.com or through our toll free number 1 (800) 481- 5150 M-F 9 am-5 pm.
The Wall St Bulls Consultant Group Inc.
Supatcha Provides Update on NI 43-101 Technical Report
DENVER, Dec. 7, 2010 /PRNewswire via COMTEX/ -- Supatcha Resources Inc. (OTC Bulletin Board: SAEI) ("Supatcha" or the "Company") today announced it has received all necessary paperwork today in order to file the NI 43-101 technical report for the Barlevskoye and Vynohradiv gold projects. The NI 43-101 will be filed no later than December 09, 2010 at 6:00 a.m. EST.
In addition, Supatcha is preparing a series of updates that will be released in the coming weeks as part of its Investor Awareness Program. Updates on the company via news releases, the website, newsletter programs and conference calls will facilitate timely updates to current and potential investors. Investors are encouraged to sign onto the company site and register for the newsletter mailing list, to be included in this program.
http://www.supatcharesources.com/signup.htm
About Supatcha Resources Inc. (OTCBB: SAEI)
Supatcha Resources Inc. is a gold exploration company focused on acquiring and developing mineral properties in Ukraine. Supatcha is in the final stages of acquiring two additional gold mining projects, with world-class potential, in southwestern Ukraine.
Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the last reported fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
http://www.supatcharesources.com
SOURCE Supatcha Resources Inc.
www.prnewswire.com
Copyright (C) 2010 PR Newswire. All rights reserved
------------------------------------------------------
Supatcha Announces Significant NI 43-101 Resource Estimate on Barlevskoye and Vynohradiv Property, Brings Total Gold Resource of 5,439,000 Ounces Indicated and 14,318,000 Ounces Inferred
DENVER, Dec. 9, 2010 /PRNewswire via COMTEX/ -- Supatcha Resources Inc. (OTC Bulletin Board: SAEI) ("Supatcha" or the "Company") is pleased to announce the results of the first NI 43-101 compliant resource estimate for the Barlevskoye and Vynohradiv Gold Property. NEOSC Geomin Ltd. (NGL) has completed a mineral resource estimate for the Barlevskoye and Vynohradiv Deposit effective December 6, 2010.
Deposit modeling utilizes assay data from 85 diamond drill holes with a maximum intercept spacing of 56 meters used for the indicated resources. Maximum drill hole intercept for the inferred resources was limited to approximately 100 meters. The resource estimate was prepared by Graig Parham, P.Eng., a principal at NEOSC Geomin Ltd..
The Technical Report identifies, estimates and summarizes the Barlevskoye and Vynohradiv Deposit resources above and below the 150-meter elevation for both the indicated and inferred mineral resource categories.
NGL's deposit model identifies a broad zone of mineralization that extends over a northwest distance of 930 meters and remains open to the east. The mineralization averages approximately 460 meters wide, with the narrowest width of 293 meters located on the more sparsely drilled eastern end of the zone, reaching a maximum width of 540 meters in the western and more densely drilled western portion of the zone. Widths are still open on the remainder of the 930 meter strike length. Mineralization included in the resource extends from surface across the entire zone to a depth of 165 meters on the more sparsely drilled northern end and reaches a depth of 400 to 450 meters on the western half of the zone and remains open at depth.
NGL recommends that the Company's current drilling program within the resource area be continued to both upgrade the quality of the resources to more assured categories and to add internal resources by decreasing drill hole spacing. NGL also recommends drilling to the east to follow the broadly mineralized area and to continue defining the mineralized zone to its northern limit, which is unknown at this time.
Even though gold mineralization in some drill holes has been encountered at a depth in excess of 450 vertical meters beneath the zone containing the resources discussed above, Supatcha is focusing its current drilling on the top 150 meters of mineralization to more quickly and cost effectively develop sufficient resources to bring the Barlevskoye and Vynohradiv Deposit to a production decision at the earliest possible time.
"This initial resource estimate on the Barlevskoye and Vynohradiv Deposit demonstrates that Barlevskoye and Vynohradiv has the potential to be a significant shallow resource and bulk tonnage open pit deposit," said Mr. Andrei B. Yasinskij, Chief Geological Advisor for Supatcha Resources Inc. "This resource does not include the results of our ongoing 20,000 meter drill program which we expect will both add ounces to our resource and demonstrate the continuity of this shallow mineralization. Over the near term, we will continue to accelerate our exploration efforts resulting in an updated and expanded resource calculation in the first quarter of 2011." The Company is releasing assay results as they become available. Supatcha Resources Inc. plans to continue drilling in order to both quickly expand and improve the quality of the existing Barlevskoye and Vynohradiv resource.
Qualified Persons
Technical information related to the Barlevskoye and Vynohradiv mineral resource estimate contained in this press release has been reviewed and approved by Mr. Graig Parham is an independent Qualified Persons as defined by NI 43-101, with the ability and authority to verify the authenticity and validity of this data.
The technical aspects of this press release has been reviewed and approved by Mr. Andrei B. Yasinskij Chief Geological Advisor for Supatcha Resources Inc., who is the "Qualified Person" as defined by NI 43-101 for this project.
In addition, Supatcha is preparing a series of updates that will be released in the coming weeks as part of its Investor Awareness Program. Updates on the company via news releases, the website, newsletter programs and conference calls will facilitate timely updates to current and potential investors. Investors are encouraged to sign onto the company site and register for the newsletter mailing list, to be included in this program.
http://www.supatcharesources.com/signup.htm
About Supatcha Resources Inc. (OTCBB: SAEI)
Supatcha Resources Inc. is a gold exploration company focused on acquiring and developing mineral properties in Ukraine. Supatcha is in the final stages of acquiring two additional gold mining projects, with world-class potential, in southwestern Ukraine.
Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the last reported fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE Supatcha Resources Inc.
www.prnewswire.com
Copyright (C) 2010 PR Newswire. All rights reserved
Why do you need proof? A false NI 43-101 isn't enough? The geologist named in the 43-101 talking out against it isn't enough? Wallstreet Bulls dropping SAEI and speaking out against them isn't enough?
Most telling reason this is a scam, IMO, is that the PPS is less than 5% of a recent buyout offer.
By the time the scam is PROVEN, it will be too late, as the SEC will halt trading. I hope you minimize your losses before then.
Have you ever asked them why they filed a false NI 43-101?
I thought he was going to pay $1.25, or was it $2.50?
This stock is doomed.
The statement is very telling. One of SAEI's biggest backers is now joining in the allegations against them. Folks who are still defending the stock are most likely ignoring this, or just labeling wallstreet bulls as "another basher." So freaking sad.
They didn't exist last week, and all they are doing is requesting contact information to "release info to their investors" as to when they are going to accept a $2.50 buyout offer (which is never happening).
Wake up.
I never claimed to "know all DD," and I have not called anybody, nor do I have any reason to. Please do not put words in my mouth.
My confidence in this stock lies purely in the filings released on 10/28, as I have told you numerous times to read them. They will clearly tell you the intent of LOCN to perform a reverse merger with a private company. I am here because I would like to own LOCN stock when that occurs.
I am still green here on free shares, no mud on my feet. Patiently awaiting filings.
You can post but keep it reasonable. Calling for .0007 PPS is quite unreasonable. If that is the PPS you wanted to buy, you missed that boat, don't think you will see it again either.
How many times have we seen TRDY dip hard in the morning, only to close well into the green?
Very familiar chart pattern here.
To those defending this stock: are any of you concerned that this "IR department" seemed to have sprouted overnight, and they say they will release a "PR" to those who sign up for the email list?
Incredibly suspicious IMO.
hahahaha! I was in the middle of leaving someone a voicemail and nearly lost myself laughing when I read this!
HDOG! Welcome back! Good to see you posting again. We are still holding LOCN strong and waiting everyday for that 8k!
"The Waiting is the Hardest Part"
That article was originally in Russian? Why is Prokhorov's name mispelled? His name is Russian.