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I wouldn't worry
I wouldn't worry about the drop today, that amounts to a $3000 sale. There were millions of shares accumulated back in September and the real determinant will be the quality of the "undisclosed private firm" and whatever they do from here.
Congratulations TDWV'ers
Looks like you've finally got your merger! Now it's a matter of sitting back and finding out what you've got.
lol you never know....
History sometimes repeats!!!!!!!!!
Their registration was revoked on October 17th
I think the 15-12g was an attempt to save the shell at the last minute. What sucks is if they had filed the form when IPYS originally became a shell back in 2004 none of this would have happened. Maybe there is a chance it could come back in another form someday though I haven't found any that suffered this fate that have.
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SEC Revokes Registration Of Securities Of Instapay Systems For Failure To Make Required Periodic Filings
10/17/2007
On October 17, the Securities and Exchange Commission (SEC) revoked the registration of each class of registered securities of Instapay Systems, Inc. for failure to make required periodic filings with the Commission. Without admitting or denying the findings in the order, except as to jurisdiction, which it admitted, Instapay consented to the entry of an Order Making Findings and Revoking Registration of Securities Pursuant to Section 12(j) of the Securities Exchange Act of 1934 as to Instapay Systems, Inc. finding that it had failed to comply with Section 13(a) of the Securities Exchange Act of 1934 and Rules 13a-1 and 13a-13 there under and revoking the registration of each class of Instapay's securities pursuant to Section 12(j) of the Exchange Act. This order settled the charges brought against Instapay in the Matter of The CattleSale Co.
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=3274513
Looking back at the history of this stock....
Apparently in the late 90's I was a millionaire!!!!!!!!!LOL
Looks like it has a very low float, Meuse seems to be reputable and have a following so could be someone loading up on shares. Something similar, though on a larger scale happened here back in August I think.
I didn't know about that one, hopefully this will go first and I can look into it further down the road. :p
Ha, I am not sure that he....
I am not 100% sure how the whole process works, but I think he buys those shares to take control of the shell, and either deregisters them or hands control over to the people who purchase the shell during the merger process. I think he makes his money on the sale of the shell itself, could be wrong though. Maybe he does keep some portion of those 50 million shares post merger as well, not sure.
Wow, Interesting......
I was reading a bit more about Belmont Capital tonight, it seems they opened an office in China a couple of months back. How cool would a Chinese reverse merger be in a Red Hot Chinese market. That could be added insurance against a recession and bear market, and a decent Chinese company in this Chinese hyped era we live in could definitely lead to one of those "stranger things have happened" type reverse merger stories!
Ah well good to dream anyway lol
Of course I'd be fine with an equally good US company as well. :p
Look like a good day then, congrats!
Looks like someone is buying today, float is way to much for me though. I like the low float .007 / .02 to $2 / $6 mergers, rather then the .0001 to .09 ones. :p
Nice info, will be helpful after this successfully reverse mergers hopefully and I'm looking for more shells! :p
Float is correct.... re: o/s
74 million was the original amount of O/S, however Yahoo & Google now have 24 million O/S listed for AZTC. I am not sure if when Belmont took control of the shell, those 50 million shares were treated like a share buyback sort of thing, where they are now off the market completely and removed from the O/S total or something.
Only one thing concerns me, though not very much....
I do believe we are heading into a multi year bear market. I called the 2000 to early 2003 market and the lows very well, this time, barring anything unforeseen, I see the absolute lows for the Dow in the upper 9000's and 1400 to 1600 on the Nasdaq. I think the worst will be from now till late 2009 when the recovery starts.
That said, I think shells are pretty much immune to recessions, not sure if the number of reverse merger opportunities are affected in such a market though.
I am pretty sure some of the more successful reverse mergers happened during the height of the 2000-2003 bear market as well, and there will always be large rallies and high volatility during this stretch. Plus I could always be wrong too. lol
Yup it seems a few of his past mergers ended up between 1 to 4 dollar range with one going to 14. Not sure what the float was on that one though.
On the other hand, I think the Sports Entertainment shell had the same float and this one and did a 2 for 1 split after the merger and still went to 32. That would fall into the stranger things have happened category! I am starting to sound as bad as the people on the other forums now. lol
Based on past shell mergers, I think $1 to $2 is a pretty realistic possibility if it does reverse merge and the company is of good quality. $6.00 or more would be nice though, and stranger things have happened!
Re: If it hits $10
Yhea if it hits $10 I'd be in pretty good shape too LOL, you never know, stranger things have happened. As I said before though I'd be happy with a $2.00 reverse merger, would give me a solid foundation to build on!
The way I see it....
when you own a shell it's either going to reverse merge or it isn't, and I seriously doubt the amount of posts on a message board have any impact at all, or any positive impact anyway. Then it's a question of the quality of the reverse merger and whether it then goes to 10 cents or 10 dollars lol. Usually the really good stuff happens with shells and stocks that are underneath the radar.... that's my hope with this one anyway. :p
Sometimes quiet is better
One of the reasons I chose this as my shell is because this message board seems to be a bs free zone lol, sometimes that is a very good thing! I'm glad this message board isn't like those other ones, a good sign IMO! lol
Re: Mergers
I have no idea, I picked this mainly because the shell owner seems to have a good reputation and will hopefully at least not let it go under. lol
Hi....
About 24% of today's action was me finishing my accumulation, I needed a new shell after my old one IPYS went under, I chose this and it seems like a good choice.
Some of you need this to go to .16 cents or $1.60 for your dreams to happen, I need $6.00 for that, though I'd be happy with $2.00 on a reverse merger in the future. After my last few I am due for a win! lol
I am not the one who bought the big chunk later in the day though at .01
Hi guys!
IPYS refugee here LOL
Misery like company so I figured I'd say hi, I am in the same position except no one even cares about my poor stock. ROFL
Some of you are giving me hope that the stock might return, but I thought when it was revoked the only thing I could do is get a letter declaring the shares worthless for tax write off. Mine was a shell though so your may be different maybe, or who knows maybe they'll both return, good luck!
Thanks.... however... lol
Re: "I have warned gays here in the past" ....I'm not at all gay, not that there's anything wrong with that : /
I am however a huge bagholder I guess, I had this stock back when it was an actual company, and held on after Kryptosoma left as the thoughts of a shell & reverse merger intrigued me.
After the 15-12g and press release where they said they were in talks with prospective partners I was having visions of a .001 to 3.16 shell boom like last time when they went from Filmagic to IPYS... I guess that isn't going to happen now which really sucks LOL
What happens to my shares, will my online brokerage hold on to them for as long as I want, and if they do try to re enter the market someday will they be automatically be reactivated again? From research I've done tonight it seems I can either hold them with the very remote possibility they might someday return to the market in some form, or get a letter declaring them worthless for a tax write off?
Here is what I found re: IPYS.... :(
http://www.otcbb.com/asp/dailylist_detail.asp?d=10/17/2007&mkt_ctg=NON-OTCBB
It says "registration revoked by sec"
I thought when they filed the 15-12g this wouldn't happen?
Has a stock ever recovered from something like this and returned to the market or is this stock finished? Is it automatically liquidated at .001? :(
IPYS: Wondering what is going on?
Hi, as of yesterday ipys / ipys.pk is no longer listed on yahoo finance, pinksheets, or on any of the major brokerage sites like Etrade. Is this a procedural thing related to the deregistration where it will be back on the pink sheets / gray market in a few days, or does this shell no longer exist? Any info would be great, thanks.