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You get the voting power for however many shares you had on 8/30/2011, you could have sold all of your shares on 9/1 and would still be able to vote the power you had on 8/31/2011. Whenever Shinning-tree spins out, there will be a dividend date, the number of shares you own on the ex date will determine the dividend you receive (# of shinning-tree shares).
Hate when I'm right, 500k sale into .037, expect the rest to be gone in a few
Finally, bid support thanks whoever you are. 1,153,000 bid at .037. Now assuming some idiots don't sell out now we should bounce... Pretty much expecting people will sell into this as that is what always happens when there is a bid. Maybe this will be the exception, I can hope right?
I think if Scott bought the NSR the financials would have stated that, since it would be a conflict of interest. Whoever did buy the option must be fairly confident that Nemegosenda goes to production.
Scott didn't need to use the options since he could just buy stock via private placement/ for cash at the same price. Overall it is better that he did not as the a/s would have increased. Some did not see this, per the last financial statement, all of the options expired in Feb of this year with only ~2 million used.
I personally believe NSR would be more valuable as it would be a perpetual return for the life of the mine. You can only sell your stock once (aside from possible dividends in distant future).
There are 6599 shares that are considered FTDs as of 8/26/2011. If there were a billion it would say 1 billion as the current number as of 8/26/2011. Those huge numbers in 2007 were when the price was .000x.
Example from the dump page:
20070801 121837774 (Share price was .0004, $50k in FTDs).
I don't believe there is shorting going on in a large scale ( more then maybe a few million by a MM). In pink sheets that is an easy out as to why a stock isn't performing. It's also used to convince holders to "fight off the shorts, don't sell, don't allow others to borrow your shares, etc...". and in this case an attempt to bring in new buyers looking for a huge short squeeze. I'm all for new buyers, but those type of buyers will exit fast once reality sets in that there in fact is no short squeeze, although if there are enough convinced there is, they themselves can cause a spike. I guess we'll see.
I think the trading range has been in effect set by Scott. Scott has been repeatedly selling shares at .02 (for 3 years now, and now the HKHE deal is basically .02). Why not do private placements at 30 day market average, etc... If he could have sold shares at a higher price, more work could have been completed with that extra cash (or less shares sold). He also would have a reason to promote the company if he raised capital based on market value. If big investors ($100k+) knew they could just buy at .02 why would they buy in open market. That would be another reason why there is no bid support in large numbers (1 million+ bids). During this entire year there were only two times where a bid was greater then 1m (.035 and ~.038 in june). I think I even know who that bidder was (Hacker1 dude that flipped 2 million shares). At this point it doesn't matter anymore as there are 10 million or so left in a/s which I suspect has already been used issued at .02.
Hell SRSR could actually have been facilitating shorting, a smart investor with the capital could short in open market and then cover via a private placement or issued for cash shares. Why not? I've mentioned the fact that all of these issued shares are out there with .02 cost before and gotten responses that they are all locked away in strong hands, but how do you really know that?
Enough babbling from me, I've been thinking about this a ton lately. Can't believe we are down 50% from highs after the large amount of shares bought at .05/.06/.07, and then nothing, no bids and 1/2 the volume to drop 50%.
I have not talked to Merle, someone else here stated that he had and the it would just be a meeting to count the votes. We'll know for sure when we get the circular.
Where the buyers at? Chance of a lifetime op here :). I don't get it, is everyone seriously waiting for .02? Or are you waiting for a washout, tank day were 2-5 million get sold at bid? I would have rather have had one of those days a month ago, than this slow trickle down.
I agree.
Hasn't Merle already told a few people that the meeting is just for counting votes and not informative/question and answer type meeting? For me personally, that's just second hand info, but why would he or a board member here lie about that.
Not trying to advertise, but I believe interactive brokers can do HK exchange as well as all other majors. There would still be the issue of currency exchange rate if moving money between currencies. Having it trade on in HK would would really hamper my sleep as I'd probably be up all night watching it (at least for first few days).
HKHE really does need an ADR, they will lose a lot of their smaller investors if they do not (which may account for 25%+ of the float?). I think that would be a better use for SRSR then as an empty shell. But then again there is the CTO attached to SRSR. A dual listing on NYSE/AMEX/NASDAQ/TSX would be optimal (but can be expensive).
The last PR states they are "evaluating and pursuing a potential listing of HKHE", with that poorly worded statement it leaves open the possibility that they will not list HKHE. Not listing HKHE would be disastrous for all of us. I assume this process will be clearly defined in the DC.
I like how they neglected to update the date at the top from August 11th to September 14th (just a typo I'm sure).
Anybody else see CSTI flash 1.6 million ASK at .046? Trying to push it down (as if any help were needed).
If it's just to count votes why would anyone actually go other then accounts working for SRSR and a proxy or two. It would be a waste of time. If that's what it is, they should just have it at their office.
Maybe they wanted to give us more time to speculate the price per share back up.
I'm no chart expert, but I do stare at the L2 half the day, we just need some buying. 1 million shares bought at the ASK and we'd be mid .05s. 1 million shares sold at BID would put us at low .03s. This slow drain needs some kind of momentum in the other direction. We almost took control again by getting through .049, but it was instead heavily sold into.
I think I've figured out the ACCUM/DIST chart. Accum/Dist is basically just counting how many shares were sold at ASK (Accum) and how many at BID (Dist). Long term flippers/traders have figured out they need to sell at the ASK as there is rarely large bid support here. I have been watching L2 for months now, large bids when the do appear are always sold into (assuming spread wasn't huge). Now that the volume is low, just add in a little bid whacking to bring the price down and scare others into putting up big ASKs (or worse sell at the bid). Push it back down to .02ish, collect a few million and start the process over again. I suspect there are a few out there in SRSR land that have made a ton of $ over the years doing this.
This thing trades all by itself, in no relation whatsoever to the outside world (doesn't follow market, other miners, gold, nobium, REEs, anything). In that respect it is fairly predictable.
Scott does not own 50%+ of the shares. No single investor owns greater then 50%, thus a vote is required to basically sell it's primary asset (spin-out, reverse merger, whatever you want to call it). I'd be surprised if Scott personally owns more then 100million shares. How many shares owned by individuals, directors, etc... is one of the many details that will (should) come out in the circular.
Since there is obviously no run up into the circular, I don't see that expectations are high here (unlike in the past). There is hope that details we do not currently know will bring in new investors:
1) If China's (CIC) investment fund happens to be one of the HKHE investors, you can expect new investors to take notice. Who HKHE is.
2) Who is funding the 540k annual business service agreement (maybe it's an off-take agreement from some large entity?).
3) Detailed plans on listing HKHE/Niostar, spin-out of Shinning tree.
4) Large shareholders listing.
5) Niostar and Shinning-tree update and short term plans.
.... a bunch of other details
My only concern is the circular is lacking in details or is vague on details (like most PRs). The sample circulars (links posted a few days ago) are very detailed, I expect the same here.
I don't think there are tons of shares short either. They would be stuck just like us with no liquidity. I'd guess those minor at market share sales (anything under 25k) are a flipper who is trying to get back in and wants to buy lower. That plan has been working out well for them for past 3 years. Longs have been doing the same thing for a few months now (buying small amounts at ASK).
Seriously? we're in the .03s again?
60k of buying we'd be back to .047, sad really. I have already put my extra $ in.
Another 5k to .043. and now ask is .0425, someone is definitely manipulating here, short? someone trying to buy cheaper? or there are just a bunch of amateurs trading this?
No bids and 10k dropped us back to .044, I wish everyone had L2, why would you undercut yourself by selling 100k at bid of .044 if 480k just went at .046/.047, $200-$300 difference.
The only place the annual report has ever been is on http://www.otcmarkets.com/stock/SRSR/financials
Maybe on Sedar as well?
Maybe Merle should ask Scott and the legal team on this one. If they did it that way they won't get the required votes as very few shareholders will even see it, much less vote.
The last PR stated that it will be mailed. I get other mailings directly from the company I am invested in. Rarely has my broker hosted this information.
Some invisible bid support at .0465, showing 5000 bid, so far has absorbed 150K, now another 100k at .0466, looking good for a down day.
I think anything that may actually work would require money. With all of the $ in here, why not create a "SRSR Shareholders Consortium" to spread the news through ads, social networks, etc... ? I'll chip in some money for this. As long as we are detailing facts I see nothing wrong with this. Obviously no penny stock "promotors".
Contacting/harassing mining industry analysts and/or journalists to write a report or simply report the details and outlook may work and not require money.
Pumping SRSR on non-SRSR boards and forums doesn't work. Open forums looking for investment ideas may help?
Anyone here with a marketing background looking to do some pro-bono work?
The numbers on the HKHE option, for whatever reason this has never been brought up here, but I personally think it is important and may partially explain the sell off.
from PR:
"Under the terms of the Option, when exercised between CDN$5,500,000 and CDN$10,000,000 will have been raised by HKHE and Sarissa will transfer the ownership of its wholly-owned subsidiary, Nio-Star Corp., to HKHE in return for approximately 65% to 75% of the capital of HKHE, depending on the amounts raised."
Lets assume $5.5 million = 25% of SRSR (ignoring shinning tree here). We currently have 820 million shares which accounts for what would be 75% of new company. In order to get the new share count at current structure would be 820,000,000/.75 (75%) = 1,093,333,333 shares total, to get new shares, take 1,093,333,333 - 820,000,000 = 273,333,333 new shares. To get price per share take 5,5000,000/273,333,333 = $ .02012
The numbers again at 10million for 35% of SRSR
441,538,461 new shares
$ .02264 per share
Based on trading small/mid caps, if I just bought something at say $5 (SRSR @.05) or $6 (SRSR @.06) and then the company effective sells new shares at 1/3 the price I just bought them for I would immediately sell as more then likely the price will dip to meet that recent buy in level. In those terms SRSR is holding up pretty well considering.
HKHE is getting a very good deal here, I personally would feel much better if $10million = 25% of the company raising their buy in price up to .036 (or really anywhere above .03). It's a little frustrating that Scott has continuously put the value of the company at .02 for 3 years now, no matter where the current PPS has been.
I was being a little sarcastic there :) a .001 change means a $1050 change in my account, which for me is a lot (dmbao sees a $20k change, goldwingeurope and pals see a $45k change). I'd personally pay for 10 PRs if SRSR wanted me to. Not sure PRs work here though. The last PR clearly killed the momentum, we'd have been better off share price wise without it.
The problem is SRSR has not differentiated itself from the rest of the garbage that is the Pinksheets. From the outside it looks just like any other. In fact there have been a number of blatant pump and dumps that looked better on paper then SRSR, some even fully reporting.
It's possible Scott and team have pretty much given up on the stock price for now until we are on a more reputable exchange. Of course if I knew that for a fact I'd have approached SRSR to buy my shares at .02 instead of my .035 average.
Putting a PR out on the wire costs ~$500 each, saving all of us money I guess.
From last PR:
"At the time of such listing, if successful, the Company may enact a dividend-in-kind spin out transaction (the “Spin-Out”) involving the pro rata distribution of its share holdings in HKHE to Sarissa shareholders of record on a date to be set later this year. Management of Sarissa has determined to seek shareholder approval for the Option and Spin-Out at a special meeting of shareholders. Details will be mailed to shareholders."
They are doing what they said they would do "Details will be mailed to shareholders".
If SRSR paid someone $2 million for promotion like CR.. and a few others over past 3-6 months (PO.., GG... etc...), then we'd be in the .30-.50s within a couple days. Check CR.. in about 3 months and see where they are, I'll take wild guess at sub penny. Of course if SRSR followed such practices then we'd also be in the sub penny in a few months (and wouldn't have a legitimate 5.5-10 m funding option).
Of course if I could sell today at .30 - .50, screw waiting 3 years for possibly the same outcome.
It's never worked for me, I found that via google a few weeks ago (on a weekend), didn't work then either. I thought maybe it was under maintenance, but why would it be that way on a Monday. It might be an issue outside their control (it may work fine in Asia but not outside?). I guess we should try daytime in China, middle of the night?
I guess that 400k bid is waiting for bigger dip now? Looked pretty good into close Friday, now back to no bid support. Hardly any ask up to .049 though, if anyone was interested in buying some.
It's pretty unbelievable the number of people that were lining up to buy at .06+ and now can't get anyone to buy for a 40% discount at .04. The swing in my account is another story, -$38k from top back down to here. I reasonably could have profited $20K - $30k if I were a flipper (I guess this is how flippers are born).
I've come up with a conspiracy theory that may explain the steady accumulation and minimal price appreciation. Four years ago SRSR was toiling away at .000x under the leadership of former CEO. Former CEO seeks out Scott as his replacement and takes ownership of what I would assume 100 to 300 million free shares. Two years ago, former CEO was considered as part of the locked up shares (from PDAC quote yesterday). More recent quotes from Scott do not consider as many shares as "locked up" and thus the investor vote. Remember this is a Pinky up until Scott became CEO it acted like a Pinky (big dilution and share price free fall). Why wouldn't a former owner/CEO sell part of his stake, PINKs are all about greed, by replacing himself with Scott he assured himself millions of dollars. Scott has been doing private placements/cash shares at .02 (HKHE deal is around .02 if you do the numbers). The Accum/distro chart is only based on where shares hit ASK or BID, by selling only at the ASK and not pushing it down to the .02 level where insiders may start to get nervous we could easily get the disconnect we have between share price and accumulation.
A simpler explanation could just be that there has traditionally been very little bid support here, if you want to sell you need to sell at the ASK. When bid support is there it is sold into, for example the 3 times this year when bid support was at or above 1 million (on the way up in June) the bidder was able to fill entire order within an hour or so.
I'm with you on the short term MM shorts, there's just not much long term shorting going on. Also with you on the need for non-ihubers to get into this. If SRSR would release material information/news to the general public we might actually get some exposure outside of ihub.
Then again, some longs may have setup a auto sell on news trigger, so maybe stay quite... I don't know...
The shorts theory is already fizzling away. At this point wouldn't they start covering, especially if they have 10s of millions of shares short. To legally short you need to have 1.00 to 2.50 worth of margin to cover every share. It would cost me 25000 to short 10000 shares. Plus on top of that you need to pay a borrowers fee per share (daily). I'm sure there are a few firms out there that practice naked shorting, but why would they waste their time here? $12000 dollars traded today. Shorts need volume just as much as longs need volume. No one want to get stuck in a stock where they can't execute their trades because of lack of volume. Also as dmbao pointed out, this could have easily dropped into mid .03s today with any sell volume, if there were shorts they could push this down to .03 or lower with what appears to be little effort based on L2.
CSTI is taking over some of NITEs routes. Basically CSTI is the new NITE. More then just TD uses them.
It could be a single seller or multiple sellers. If it's a single flipper then I'd guess they are responsible for at least 5 -10 million shares sold during recent run up... and down.
The price action has killed anyone who bought into this above .06, there were 25 million shares bought and sold at or above .06. There goes any new blood here. I suspect there are at least 10-15 million shares whose buyers are still holding the bag (just looking at the low volume on the way back down). If they jettison here we are looking at .02s. We could have easily hit low .03s today if the selling from past two days had returned (500k - 1000k) There has been absolutely no buying over past week other then paint jobs. Asks starting to come down even more to reflect that.
luckily I bought in early in this run or I'd be out too (.033 avg.). I'm not willing to be a bag holder no matter what the story is.
Gold again at all time highs today, PR about shinning tree spin out would be nice.
I would guess that those spots are payed for, most conferences will have bronze, gold, silver, platinum level of sponsorship. To me it means that HKHE is willing to put forth some cash for marketing and promotion (sounds good to me).
Hitting .03s here in a few if no bids show up.
Normally this would be sent out as a form 8-K if they were reporting, you cannot expect pink sheet investors to find this info on SEDAR? Someone here did, I'm guessing I can't find it again without the original link that was posted. It would be a disservice to SRSR investors if they do not submit a informational PR for this.
I know this has been said before by others... I really don't think Scott cares what the share price is for SRSR, I think that is still the case. To me that is a mistake as we very well could be further along if SRSR didn't need to sell shares at .02 for 3+ years now.