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But this is no surprise. When they canceled the R/S, raising the A/S was expected. The A/S is still under a billion, decent for a Pink.
Ha...beat me to it. This was exactly what I was just analyzing too. This has been the pattern for the past week...walking it down to the high teens by the MM's on very low volume. Then the cheap shares get gobbled up, and the price bounces back. However, today, those buyers coming in at the end to chase it back up were MIA, so we broke that pattern.
It appears that everybody is now waiting on a PR that has some NEW information in it...something with some solid numbers in relationship to the two supposedly signed contracts.
I don't see much technical damage on the charts from today's price retracement. We had three straight up days, so some profit taking by a few is to be expected. Lack of new buyers, and some profit taking by a very small group, is what drove the price down today. We're right where we were last Tues...waiting on a PR...but hopefully one with some meat and potatoes in it this time.
Maybe it's a waste of time for you...maybe it's information for others. Such is life on a BBS.
IMO, whether ARTS was not an established enough seller from my first thread, or the fact that ARTS didn't understand the eBay marketplace of today from my second thread...the true waste of time was probably listing the Picasso on eBay in the first place. A)It's not a marketplace for this type of art, and B) It didn't even make a ripple in the internet fabric if going viral was the intention. I've seen more excitement for a new recipe on a blog site.
There are much better ways to market the piece.
I don't think I'm wrong at all. My company is primarily a marketing firm. I'd say from the responses in this thread about the Ebay listing so far, that most people are still under the impression that Ebay is this new, dynamic marketplace and a source for internet buzz. They couldn't be further from the truth.
It was at one time. Had the Picasso been listed in 2003-2004, it might have caused a bit of a sensation, maybe even a slot in some prime time news show...but Ebay is dying now, it's stock price being supported only by PayPal. The fees have become so outrageous, it's THE most expensive venue for anybody who wants to sell on the internet. The search barely works. Sellers can no longer give out negative feedback. In Ebay's pursuit to make everybody in the world a seller (so they can generate more fees), the marketplace became flooded with inventory, with few buyers. Cheap China junk by massive power sellers also flooded the marketplace, resulting in bootleg designer items and scams. The auction format is almost completely dead...nobody dares to list anything in the auction format now hoping it gets bid up...you'll lose your ass since you're lucky if 10 people find your item due to the wonky search...most sellers use the Buy It Now listing. Finally, the collectible/antique sellers have been leaving by the tens of thousands the past few years to Amazon, Etsy or opened their own open sourced shopping carts ecommerce sites. We advice out clients to use what we call "Ebay Arbitrage"...don't sell on Ebay, buy on Ebay. Buy the items for pennies on Ebay, then turn around and sell them for a huge markup on your own private ecommerce site. There's no listing fees for your own site.
Ebay's image is now one of a massive, dysfunctional, internet 99 cent store...a place for cheap deals, used clothing, refurbished electronics, China junk and possible ripoffs, not rare collectibles...it's really not a place you would list a 55 million dollar Picaso, even if you were only trying to create a little internet buzz.
I realize the intentions were honorable by ARTS...but their knowledge and timing were off by about 6 years.
GLTA. I hope everyone's investment goals are met.
i really dont think they are depending on ebay to sell the panting, just a way to show it off.
I checked out the listing on eBay...
http://cgi.ebay.com/Pablo-Picasso-Rendering-Francoise-Gilot-Sculpture-/180524833398?cmd=ViewItem&pt=Art_Sculpture&hash=item2a081e5a76
..and as a long time Power Seller on eBay, I would say they don't have a clue. They should have been using the eBay marketplace for months prior to this listing, building up to it...using it to both liquidate some inventory, establishing themselves as a legitimate dealer and as a marketing tool. Nobody takes a brand new seller with 0 feedback seriously, especially when the very first auction is seeking a sale of 55 million.
It's a novelty listing right now, just bringing in traffic from the curious. The ebay listing looks like a joke or scam to the eBay community. If you look at the listing, there is absolutely ZERO information about the seller, which is very crucial in the eBay marketplace. They could have mentioned they are a public traded company, told about their cable TV channel, their showroom in Dallas, their multi-level marketing, etc. They should have at least put some time and effort into explaining who they are by building up their "About Me" page...where most buyers will go to learn more about a dealer.
Major corporations like Sears, Best Buy, Target, etc., DO use Ebay...but their listings look like they are the real corporation. Right now, it looks like a joke listing by some teenager trying to win a high school bet; tossed up on eBay with some cheap clip art border. Not very professional looking IMHO.
LOL...you spent $10 bucks to trace a gmail account?
..and did it wind up on one of Google's servers? Located in CA? Silicon Valley perhaps? More specifically, Mountain View?
there simply is no interest in EFLN amoung serious investors.
No news means this is going to dip enough for me to get my 15's then up up we go hopefully....
There's no dilution going on...there would be heavy volume if there was. Look...there were 16 trades today...that's it...for the entire day. It was a slow day here, and elsewhere.
Only 120,000 shares traded in the first 2 hours. Two trades late in the day dropped the price to .0018. Who knows, maybe those two individuals needed the money for a margin call for something else...the Dow was down 148, most of the 100 or so stocks in my watch list were red today . Maybe they just wanted more action on their money elsewhere since this stock is basically sitting at the .0020 level....but there is really no need to be concerned or worried about today's action. It was a non-event. It's days like this you just forget about and chalk it up as one of those lazy-hazy summer trading days.
30 years ago, I'd go party somewhere around Manhattan after a day like today. Now...I'll just try and relax with a new passion...cooking in my kitchen. Times change...markets don't. Have patience and go do something enjoyable when the market is dead.
"Re announcements : whilst we are in the process of
becoming a fully reporting company and therefore being eligible to
uplist we are advised that PRs should be kept to a minimum.
Frustrating yes but the uplist is obviously very important to us and
it does mean we have PR stacked up."
The good news is that the R/S doesn't change the value of your equity...at first.
Example...
You own 1 million shares today.
1,000,000 x .0001 = $100
Say they do a 50 to 1 R/S. (divide your shares by 50, multiply the share price by 50)
20,000 x .0050 = $100
Your equity value remains the same.
However...now the bad news, and the reason most stocks tank on the announcement of a R/S.
The lowest price the stock could trade before the R/S, was .0001. If the company begins diluting the market again with shares after the R/S (which most of them do), the price can drop from the initial post R/S of .0050 to .0001 again. Look at the math if that happens.
20,000 x .0001 = $2
Because of this R/S and dilution, R/S and dilution cycle that some of these pink companies do, there are examples out there of investors who have had $10,000 become worth a penny over a few years.
This cycle is usually the result of what they call Death Spiral Financing, used by many of these pinks as the only way to finance their operations. A private lender has convertible preferred stock as the collateral for the note...but the company doesn't have profits to pay off the note, so the lender will short the stock and then convert the preferred, which causes dilution of the common. They pay back the borrowed shorted stock with much cheaper shares. Also, the note agreement stipulates that the company must maintain a minimum share value. The only way to do that, is to R/S. Wash, rinse, repeat. The note holder always gets his money...the shareholders get the shaft.
During everyone of these R/S - Dilution cycles, there are a group of shareholders that get burned, and a new group that hopes this cycle is the period where some new product/revenue breakthrough occurs, giving the company revenue to finally pay off the note, stop the cycle, and have the stock price finally appreciate.
GLTA
Hiya OZ,
Are you Pro EFLN????
FILED 14C...REVERSE SPLIT
Yup...as most expected...a reverse split
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7317096
Now we know why 1.6 billion didn't budge it today.
Good. Sometimes, that's the only way they discover the manipulation.
Pinks and OTCBB's don't trade on an exchange. They are traded between Market Maker's. For a stock to be listed on the Pinks, there has to be a primary MM designated as the lister of that stock. It's NITE for EFLN.
MM's, besides trading the stock for their clients, can trade it for their own accounts too. This can lead to manipulation...they can short it, drive the price down, then buy it back cheaper for a profit. We little guys in retail can't short a stock, so it's not a very fair playing field. If you buy a stock intending it to go up, and the MM's drive it down because they can short it and trade between other MM's, it can not only not make a profit for you, it can tie up your capital for a long time unless you sell for a loss...which is what the MM's want. Also, there is very little oversight or regulation at the Pink/OTC level compared to the exchange level. Naked shorting is pretty rampant in the Pinks.
It makes for a false market at times. You'll sometimes see a couple million shares bid the price up...and then the MM's will drop it down on a 10,000 share trade between themselves.
Sorry...duplicate post. Funky ajax at times.
It's just a top list. Anytime somebody looks up a stock via clicking on the symbol or typing it in on the search box on their site, it registers in a database. They put the top 50 in that box at the top of the page. It's like the Hot List here.
By using a top list, you might discover a stock that is getting a lot of interest before it really explodes (or tanks)
LOL...1.6 BILLION shares, an all time daily high in volume...and the stock tanks. They've diluted so much, they almost couldn't give the stock away today. The A/S must be 30 or 40 billion now.
They'll R/S this soon, wipe out the current crop of shareholders, and go for a new batch as they dangle the lawsuits/settlements as the new bait
Alrighty...finally. We close above that stubborn .0020.
Charts looking very good right now
Hmmm....NITE sitting on a .0003 spread right now. I'm gonna be really PO'd if they drop it to .0018 on the close with one of their $10 swaps
If we can close today above .0020, I will be a very happy camper per my charts.
We've traded at or above .0020 in 7 of the last 9 trading sessions, but we've never been able to close above it. It's been the resistance point...a pretty damn stubborn resistance point. There were a couple of times I thought we would close above that mark, but it sold off by the end of the day. I'd love to see us finally punch through so we can break out of this sideways channeling and begin a new leg up. Also, after hours TA analyzers would have their buy conditionals light up like a Christmas tree.
like the action today. :)
911 share block traded again. That's the second one I've seen today. That has to be some code warning.
Hmmm, so the flag formation shows the price will either go up, go down, or go sideways. Thanks for the insight.
If you look at the daily chart, we are forming a perfect flag formation over the past 5 trading sessions. As the lower highs and higher lows converge, there is normally a breakout after they get squeezed to that point. That breakout could occur in a day or two.
It should breakout to the upside, but on rare occasions a downside breakout occurs also. It sometimes just does nothing, and continues to trade sideways. When this happens, it nullifies the previous flag formation and you then have to look for a new pattern to be established.
Personally, I'm in favor of the upside breakout.
I totally concur sir.
No worries there xbig. My best friend from college is also my CPA. I highly recommend this type of friendship to everyone. We plan on having neighboring cell blocks if it all goes to hell.
Yup...'fraid so. But then all it takes, is some surprise discovery on the fundamental side, and your beautiful charts can be blown to hell...right?
This is going up huge today but wait until TOMORROW!!!
LOL...not yet. My 15 minute candlestick charts are looking quite healthy right now despite my fundamental skepticism. I have a nice profit...now I'm just trying to decide where my exit point is going to be.
450 Million A/S....LMAO. Can you imagine?
Yea...but retail can't short. It's not a fair playing field. We can only buy. I'd make a killing if I was able to short this stuff, since the majority of it, with all the R/S and dilution, drops over time. This one of the reasons I prefer futures trading. I can play both sides whenever I want.
We might get a bit of a sell off this last hour. There were millions of shares bought in that .0012-.0014 range early this morning. Some of that was day traders who will be selling now. That's been the pattern lately...then we've been getting buys in the last 3 minutes.
They are not current with the SEC, which is why the stock is listed as a non-compliant stock with at the Pinks. But they are keeping current in the State of their incorporation, FL, so they can at least operate in it as a business.
The sunbiz site is the official site for the Florida Secretary of State, Division of Corporations.
So, they can still stay a bit under the radar or be "late" in releasing information in comparison to what a fully reporting company is required to do by the SEC and the Pinks.
Also, if you go to the Sunbiz site and type in Efuel in the search box, you will find that there are 4 different corporations still active by this group...same address, CEO, Directors, Secretary, etc. Basically, one active, this one, and three shells.
I may be coming across as a basher today, but I'm not. I'm long a boatload, and I'm just looking for a quick pop. I'm just VERY leery of this company for any long term outlooks. Too many red flags.
Here's the form for last year. As you can see, it was filed with the FL Sec. or State on April 22, 38 days before the split.
http://www.sunbiz.org/pdf/00095997.pdf
The recent one was filed on June 3, only 18 days before the split.
http://www.sunbiz.org/pdf/81610812.pdf
On April 1, the price was .0015
Since then, volume has exploded, with over a BILLION shares traded. Yet here we are today, at a price of.... .0015
Something just don't seem right.
Joseph P Cillo - CEO
Here's his Facebook page.
http://www.facebook.com/jpcillo
Not many friends. One of the directors, Richard Winslow is on his list. Frank Pinizzotto is on there. (there's some other Pinizzottos, so maybe it's family)
They'll all be at Denny's tomorrow, scarfing down a Grand Slam, and having a board meeting.
Huh? Did you READ the page? I copied and pasted that directly from the page at the Pink OTC site.
The Attorney for EFLN, Craig A. Huffman, was barred on March 8, 2010 from being able to submit Attorney Letters or Legal Opinions to the Pink OTC Market, Inc. Those are the letters required to have an uplisting; to take your company out of Caveat Emptor or EFLN's current non-compliance rating. You get barred if you are not honest in your letters, not because you had poor grammar in them.
So why is it lame if I post this info?
What about it?