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Dang it, where's the Hoffer at -- I miss the chuckle from his ranting and raving. The last I knew there was supposed to be something happening with a cartoon book about a secret agent dog -- whatever happened to that "deal."
LOL fired the accounting department then replaced it with a girl. The company is dead-ass broke.
Might as well add that said he would lower A/S to 500m and that hasn't been done either.
No Dividends
No CC Ice Cream
Lots of racing news/updates
More dilution O/S 204,010,756, O/S started at 88 Million after RS of 1-100. Looks like BBDAD is doubling down.
Don't know if anyone will have to pay the initial TA processing fee, but someone is going to have to pony up for the attorney letter declaring the stock legal to trade by removing the restricted legend. In all likelihood, fees are going to add up to more than the value of the dividend. Which begs the question -- what's the point?
BW is not going to make you stare at that line item. The PR claims they're going to mail you the certificate. I'm guessing you'll have to pay the TA's processing fee for the certificate to be sent to you, and again to have your broker add them to your account.
An hour into the day and the equivalent of 132,853,700 pre-RS shares have "traded".
What a dumping day. is not even friday today means brian is in bad financing
Probably not connected to you in anyway, but is an interesting read on what companies are doing out there to track you across the web. The thought of reviving deleted cookies is very disturbing.
https://www.eff.org/deeplinks/2015/01/verizon-and-turn-break-browser-privacy-protections
I brought this up previously when it was first announced, but I don't think folks are too familiar with the process. A lot of shareholders are gonna go WHOA! when they find out the bill for even trying to get them into an account.
How long will it take the knucklehead to realize his shares went down .... and people wonder how companies like BBDA can get away with it for so long -- as long as you have the clueless buying the dog and pony show Weber will continue to ride like the wind on the clueless dime...
Good luck, because it is likely to be an issue. Also, who is going to pay for having that legend removed? Won't be able to deposit without legend removal.
Penny stock dividends in certificate form are nothing but bs used to pump.
You get a certificate for the number of shares in your dividend based on how much BBDA stock you own. The issue is going to be -- will you be able to deposit that certificate into your account?
Now comes the big issue: will your broker allow you to deposit the certificates into your account? A lot of brokers won't accept penny stock certificates for deposit, so check to make sure you can deposit.
If you have to go to a specialized broker, the costs, fees and expenses won't be worth the time, money and effort.
That is probably the true reason. It's all fun and games until you piss of the entire herd. Well, those members of the herd not attached to the company I should say.
No they can't. I was mostly being a smart ass, but still, this company and the people behind it have this knack for running their mouths and keyboards and not considering the ramifications down the road -- then they try to eliminate all the evidence. It's clear from the company reactions today that the kitchen is on fire and they have no idea how to put it out so they start pulling everything and deleting so they don't have to deal with it. No to mention the threats now appearing.
Probably rewriting and editing it, lol.
I agree. The company is flat ass broke and can't do it's racing without the toxic funding. IMO.
The company will ever get acquired. One look at the accounting will spook any potential acquirer.
That's my opinion of why the R/S came now and with no notice.
In other words, JSJ wouldn't lend anymore?
I suspect that the employees are all fine, as there is no doubt in my mind they knew this was coming and got out.
Good gawd, who writes this crap?
This decision is part of an overall long term initiative to send a clear message to the market that we are aggressively taking steps to end stock delusion and begin the tedious stock buy-back process."
I wonder if he was trying to remove himself from the account not understanding that it's an all or none thing -- it's either there or it's not. You have 30 days to reactivate a deleted account. That may be an explanation for the "remove me" tweet on the other account. Just guessing.
Did get a chuckle out of this --
The buyback will help that. Thank goodness it's finally going to happen.
Ah, so sorry. I was on the main page. Thanks, and yup, it's still there. For now, lol.
Exactly. Which is why I posted earlier about the stupidity of pennyland.
From Seeking Alpha:
Cuba Beverages rallies in potential case of mistaken identity
Shares of microcap Cuba Beverage Company (OTCPK:CUBV) are up 100% to $0.04 on heavy volume without any company-specific news out.
The outsized rally appears to be a reaction to news of restored relations between Cuba and the U.S. (h/t WSJ).
For the record, Cuba Beverage is an energy drinks company that has no ties to the country of Cuba.
What page was posted to? If it was https://www.facebook.com/BeBevCompany it's gone already, lol.
Yes it was. All the social media accounts were quiet this morning when I checked around.
I believe his Twitter account was just deleted.
https://twitter.com/WheresBrianW
I've stayed away from this board largely because it grew tiresome of reading post after post of what a POS, etc. etc. and so on Weber and the company are. But this stunt, coupled with the recent A/S increase -- and, without uttering a word to the shareholders or preparing them in advance, is beyond comprehension to me.
So yeah, Brian Weber and the entire BBDA organization is one giant piece of shit.
I'd love to see some paperwork from one of the JSJ convertibles. I am left wondering if JSJ had a clause in there, as many toxic financiers do, that if the PPS dropped below a certain level the company had to R/S.
I question this because of the recent A/S increase. It logically doesn't make sense to increase the A/S then turn right around and R/S ... unless of course ...
The shitty part of this is Weber doesn't have the balls to say anything to his shareholder base -- there is no doubt in my mind he wanted to just spring this on everyone. How anyone can defend him now at this stage is beyond me.
It's true. It's on the FINRA Dally List.
http://otce.finra.org/DailyList
Type BBDA in the Company Search box, then look at the far right of the page and click the paper icon for details.
No, it's definitely 100:1 R/S and takes effect tomorrow. The truly sucky part is a lot of shareholders are going to be locked out of any trading due to the symbol change. How anyone can now defend Weber is beyond me.
Edit: Found the info I asked about ....
That's as reasonable an explanation as any, and if it were to be proven true it just shows you how stupid pennyland is. Might be an opportunity for a few to recover some losses, tho. GLTA.
Accused Herbalife Insider Trader Tried to Take Back His Trades
(Note: footnotes and sourcing at the full article url - http://www.bloombergview.com/articles/2014-09-30/accused-herbalife-insider-trader-tried-to-take-back-his-trades?cmpid=yhoo)
The Pershing Square/Herbalife insider-trading case raises some pretty interesting issues but first things first, it is adorable. Here's what happened, according to the Securities and Exchange Commission:
A Pershing Square analyst was working on Bill Ackman's big Herbalife-is-a-pyramid-scheme presentation.
The analyst told his roommate, Filip Szymik, about the upcoming presentation.
Szymik told his friend, Jordan Peixoto, an analyst at Deloitte.
Between 12:00 and 1:23 p.m. on Wednesday, Dec. 19, 2012, Peixoto bought "eight out-of-the-money Herbalife put options" expiring on Friday the 21st.1
Thirty-five minutes later this happened:
At 1:58 pm EST on December 19, 2012, after Peixoto had purchased the Herbalife Options, CNBC reported that Pershing had acquired a significant short position in Herbalife stock and that Pershing would present its thesis -- that Herbalife was operating an illegal pyramid scheme -- at a conference the next day (the “CNBC Report”). At 2:04 p.m. on December 19, the New York Stock Exchange temporarily halted Herbalife stock trading due to its high volatility in the wake of the CNBC Report.
By Friday, Peixoto's options were worth $339,421 more than he'd paid for them.
It's nice to make $339,421 in two days.
But not that nice.
Insofar as you are just so obviously going to get caught for this, come on.
So Peixoto did the modern financial industry equivalent of putting all that money in a trash can and walking away whistling innocently:
Peixoto requested that his brokerage firms permit a number of his profitable Herbalife Options to expire without exercising them. However, one of Peixoto’s securities brokers refused his request, resulting in the exercise of certain of the Herbalife Options and his obtaining $47,100 in illicit trading profits.
Can you imagine those conversations?2
Broker: Hey, you made $47,100 on a $1,200 investment,3 nice trade, where should we send the check?
Peixoto: No never mind I was kidding.
Broker: What?
Peixoto: I just ... I just don't want the money. For reasons.
Broker: So you want me to keep it?
Peixoto: Sure, whatever, I just don't want to talk about it any more, okay?
Broker: Yeah I don't think I'm going to do that.
I mean, that's how one of them went. All the other brokers were like, "Oh you don't want the money? Yeah we get that all the time, it's cool."4
The poor kid! Buying short-dated out-of-the-money options just before major news is announced is a great way to make money, but also a great way to get caught insider trading. Peixoto managed to get caught for insider trading even after turning down the money.
Legally, DealBook finds this case interesting because this is not traditional inside information:
In another apparent first for the S.E.C., the agency built its case on the premise that a hedge fund’s private investment playbook amounted to inside information, setting a sharp tone not only for the broader Herbalife investigation, but also in how the S.E.C. pursues insider trading on Wall Street and beyond. That decision, legal experts said, puts a twist on the prototypical investigation into leaks of earnings information or other corporate announcements.
This does not seem like a huge stretch to me, honestly. Insider trading is about trading on material nonpublic information. The courts and the SEC realized a long while back that not all MNPI comes from inside the company. In particular, if Company X is planning to take over Company Y, and you find out about it and trade Company Y stock, that can be insider trading. Pershing Square's plans to tank Herbalife stock are sort of in the same category. The question is: Is this information likely to be material to investors? And the straightforward factual answer is yes. Herbalife's stock fell some 36 percent in the first three days of Ackman's campaign.5
But obviously some people can trade based on Pershing Square's "private investment playbook." Pershing Square, for instance. Pershing Square knows what Pershing Square plans to do, but can still do it. That one's obvious, but there are a lot of harder questions. For instance: Can a Pershing Square/Valeant vehicle trade Allergan stock while knowing that Pershing Square and Valeant are going to offer to buy Allergan?
The basic rule is that you can't trade on material nonpublic information if the person who gave it to you:
had a duty to keep it confidential,
breached that duty, and
did so for some personal benefit.
But the application of that rule here does seem like a stretch. Like, you might quite reasonably say, OK, this Pershing Square analyst had a duty to Pershing Square to keep this stuff under his hat, and he didn't, so everyone's guilty of insider trading. But that's not what the SEC said. Instead, it said that Szymik had a duty to the analyst to keep it confidential, and he didn't, so he and Peixoto are guilty of insider trading. (And the analyst is fine.6 ) Here, I drew you a little chart:7
Right? Neither the analyst nor Szymik traded Herbalife. Neither of them seems to have gotten any tangible benefit out of passing on this information; only Peixoto made any money. Each of them tipped off a close friend, in both the metaphorical and physical-proximity senses of "close." The only difference between them is that the analyst violated Pershing Square's written confidentiality policy, while Szymik just violated his duty to his roommate. And Szymik is the one who got in trouble.
To be clear: The SEC has chosen to enforce not Pershing Square's written confidentiality policies that are designed to protect its proprietary trading strategies but rather the unwritten duty of roommate confidentiality. There is precedent for this, I suppose, but it's a bit murky. There's the time, for instance, that the SEC took two conflicting views on the unwritten duty of golf-buddy confidentiality this summer, within the same golf club. Securities law is weird.
There is ... a lot going on in Herbalife. For instance: Is it an illegal pyramid scheme, as Pershing Square claims? Or, if you don't like that one: Is Pershing Square illegally manipulating its stock, as Herbalife claims? Or maybe, did George Soros illegally counter-manipulate its stock, as Pershing Square also claims?8 Those are all critical questions in a multibillion-dollar battle over the very existence of a large public company. And they're all in the SEC's jurisdiction. And the SEC brought this case! And why not? Wouldn't you prefer to avoid the hard questions if you could spend your time on delightful trivia like this?
Is Hoofer still posting at the other place? It's not much fun when his tirades aren't being published.
One of the great quotes of a NSS'er from that board:
DHSM - Not concerned as a shareholder. The global lock is actually a good thing, IMO.
Based on other b.s. games I've seen played with LinkedIn profiles, was it ever verified that this particular Renee Baker existed? I know that sounds odd, but I can't count the number of forged profiles I've seen from penny's across LinkedIn.
Completely misread that, thanks.
Did I miss something. How in the world did the split the stock in the first place if they didn't have FINRA approval?
Sweet. How much of that +230 million shares today was the company responsible for. .
You don't need to post an image -- post a link to the profile you are referencing. She is relevant to the BBDA conversation therefore it should not be OT.