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People, I don't know what you expected. Did you really think that beneficiaries of a low share price would allow this to run without a huge fight? This fight wasn't going to be short. It's a month long. This amount of time gives them a leg up in that people who trade down here are mostly impatient and scare easy. There are 10 more trading days this month. Expect a fight the entire time. But know this and mark this post, when it is all said and done, this stock will rise in price. This is because it "must" if you know what I mean. GLTA here especially the weak. It won't be fun and it won't be easy. If you do sell for a loss, do yourself a favor and stick around and watch. That way, you can see how this world actually works. It's not what your parents taught you. If you choose not to watch, you will only be disappointed because of the loss and not because it took off after you got your shares scared from your hands. So it does carry a positive in not watching as your not upset about the missed opportunity but a lost education also follows you around. Sad part is, you just won't know it.
Cart before the horse. Evidence? Share price falling is not evidence. Lack of news is not evidence. Could be explained with responsible statement such as "I didn't file report due to the fact that the geologists had not completed their job and thus had I done so, I would be releasing reports that were not thoroughly reviewed which could and would be construed as not properly informing shareholders."
That is my feelings as well. People get anxious and our society is a now, now, now type of group thinking. They forget that they, in their own lives, fall short more times than not as far as timelines are concerned yet they say it is unacceptable for another to do so. Patience is needed here.
Thanks for letting me know that we didn't get news. LOL. I am not going to defend the lack of news because that would be stupid. I can state that I don't have a clue what goes on behind closed doors of the company. If we did, we would all be insiders. We can come up with a wide range of why news wasn't released yet. I can only say to Ted, you need to under promise and over deliver. He hasn't quite gotten the hang of the lack of patience of penny stock investors. He came from a much different, less manipulated, more regulated, more investor, less trader background. He will eventually get it IMO. Also, no need to take it out on me, if it were me, I would have made sure my geologists had it done before Monday. If he couldn't get them under control from a timeline standpoint, he should have never stated before market open.
Ok, congratulations. I am merely giving my opinion. I meant no disrespect.
Ok, I was merely giving my opinion. As for CSTI, their bid has grown and they look to be the ones who are manipulating this. No offense to all here for my opinion. Let's see what happens.
I haven't pumped this ticker one time. I have merely given my opinion just as you have. The trading here is being manipulated. Do you believe it is normal to have 3cent sells?
Just a reminder again. That 5 million share bid hit was a wash trade by CSTI, they were on the bid.
My friend, I am not pleased about the lack of news. But I am not in charge of when the news comes out. I personally would release the news strategically in order to help combat what is happening. No one, whether positive or negative, can argue the trading here is not being manipulated down. My statements are based on what I see on level 2 as well as the tape. Laugh all you want but I am beginning to think you don't care either way. That's what is so confusing about your arguments. You want it to go up because you have shares, per your posts. Yet, you want it to go down because you believe it is a scam but are unwilling to actually give proof of your argument. It's just vexing to me. GLTU whatever side you fall. I can not however, respond to you anymore as you are not open to possibilities and closed minded people always lose.
I want retail to listen to this and if you do follow this advice, your eyes will be opened up on what happens down here. You must understand that you have been programmed to believe things such as shorting don't exist. The purpose for this is to keep your head in the clouds with happy thoughts. The system is set up to keep you happy enough or allow you to blame the wrong party when things go wrong. That is a fact. This is not a not idea. This Is an age old practice. For if the many realized that the few were considered the few because of their negative actions, the many would rise up and defeat them and take what they have. Thousands of years of history. Same story.
Take this advice and learn something. All retail pull your ask. All bid sitters on .0002 do one of two things, buy the ask at .0004 or move your bid up to .0003. I prefer the ask buying to make the point faster but whatever makes you feel more comfortable. If you can make this move, I promise you not only good price movement but also an education that you won't find an any classroom. You will however find this information, albeit, written differently, in the bible. Does anyone here know what that book is? LOL
Also to all watching CHDN, if you don't know, those are the note holders actual converted shares. Notice how they are at the bottom of the list. This means they are willing to risk getting hit on 14 million but are really sitting there to show a huge wall on the ask in order to scare investors. They really don't want to sell there. This action further makes me believe that they are the ones working through CSTI in shorting this stock. You see, they want to cover first before selling there shares. They are using their real shares to help keep it down long enough to do so. This action really leads me to believe that the game plan was to sell short from the top to not only make money from shorting. It to keep the average low for December. Then, once they have covered lower, for the most part, but at the very least kept the average down, they can start the movement back up. This run will have to be large in order to sell the many shares that they converted that they didn't sell. Notice how they didn't get opinion letters for the entire amount. The next run much be large enough to be able to sell those shares. This, in my opinion, would be the smartest move on their part as they take little liability when selling short. The key for the average is for protection on their large selling. You see, if they didn't short it down for their average to be extremely low, they take on more liability of not being able to sell the large amount of shares.
To all retail sitting on the bid at .0002, you need to understand that you will never get those shares. CSTI doesn't want to hit .0003 but they will when there is such a small amount to get through. They do this so the 2s will be top bid. If your going to Bid sit, move your bid up to .0003. They will more than likely not get filled there but at the very least, they want be able to manipulate it down to 2. Now, if you do want shares here, the only way your going to get a substantial amount of shares is to hit the ask. I firmly believe that as this takes off, you will then follow CSTI up on the bid and be stuck waiting for shares there too. Then 4 and so on. How fun will it be to just move your bid up one tick at a time only to never get shares and then it takes off? To give you an idea, I will be having a great time but you will be chasing. Think about this from a logical and mathematical standpoint and get your shares.
CSTI bid has increased by 2 million this morning thus far thanks to people hitting the ask thus forcing them to short more. Quite the game going on here.
Again, hit themselves on the bid. Notice also how Bid is growing for them. Not much but has grown this morning by about 1 million shares.
Now, all pay attention to CSTI on the bid. They are only sitting there to wash trade with themselves to get more sells on the bid and try and scare investors.
This is a psychological issue. They hit themselves on the bid for at least 13 million shares to give the impression of much more red than green. They, IMO, will work against them as people are on to them. In the end, it will do nothing but raise the amount of shares traded today but then we end green. This large volume with green close will just invite more investors to buy here. They are desperate enough to try though.
Watch for rerouting now.
For those not paying attention, small bid hits when CSTI are not on the bid is just them trying to scare the really dumb investors not paying attention. Larger bid hits when CSTI IS on the bid is them trying to scare the slightly smarter investor. Either way, they don't want even to sell on .0003 now.
Getting smarter or just reading posts here. CSTI moved 5 million onto the bid and then hit it themselves instead of selling 100 shares to someone else. Getting very desperate.
They still want to play this 100 share bid hit game. Geez, I guess they are a little slow. Didn't work last week, won't work this week..
The key to getting this moving is to get CSTI to move its large bid up to .0003. The only way to do that is to hit the ask. That 190 million shares is needed by them to cover.
I agree, correct entry and exit points are imperative here. I think it will have multiple runs over the coming 6 months to a year with a stair stepping effect allowing multiple entry and exits. This is of course with news coming every 1 to 2 weeks updating all here on progress. The key to the whole thing gaining stability is the covering at higher prices. As long as shareholders can hold through the trip zeros, it has a chance at stabilizing at .0014 before it begins a large run up which would really only be a day or two after. It should be very interesting here very soon.
Your stance is understandable and if it weren't for a couple facts, I would be thinking the exact same thing. The things that allow me to stay and buy more down here are first, the fact that this conversion will be about 3-6% of current debt. These note holders are also holding preferred shares as part of a different deal for a much larger mine called White Hills. This deal was made around June or so. This tells me that they still have a lot of skin in the game and it wouldn't make much sense to just kill this thing with so little made. If the second option of CSTI shorting independently of of the note holders selling, then the amount of shares we are talking about are mostly already sold into the market. CSTI was shorting in November when the price hit .0024. So if they are independent and the note holders were selling in November, then most of the shares have been sold down from the top to get the average lower. We have traded billions of shares over the last few weeks. So, when this month does end, the damage would all be over for the most part. Now, imagine the CEO coming out with positive news to help push this price up. You are correct in stating the risk but I believe you are undervaluing the upward potential here. I like my odds here but understand your stance.
Mathematically, you will be hard pressed to get those .0001s. There were over 330 million shares on the bid on Friday at .0002. Retail must sell them because the note holders won't and neither will it be shorted there. Read my long previous post to you.
The short story is in 2010, the notes were given for certain mining properties carrying with them a restriction for 1 year. In 2011, the new CEO Ted Blom negotiated an extension for those notes until 2014. In November, they converted 2.3 billion shares based on the average 5 trading days leading up to the conversion. This wasn't toxic note as it didn't carry with it any discount whatsoever and is only variable rate in that it was converted at the average of the 5 days. Within two weeks the average price was around 6 times higher. The CEO didn't think that was fair to shareholders as after all, that would be considered toxic debt as they had just converted at .0003. The converted debt was still restricted, however, many of these note holders got opinion letters from the securities lawyer to get the legends removed. This would have pretty very easy in that they had held the debt for over 3 years. The CEO renegotiated the conversion rate to make it fair for shareholders and hopefully allowing this deal to extinguish more long term debt that originally anticipated. The new deal stipulates that the conversion rate will be based on the average trading price over the month of December. So, this 2.3 billion shares currently extinguishes $690,000 in debt. So, for example, if the average trading price is at .0006 in December, they would have extinguished $1,380,000 in debt as opposed to $690,000. Currently the average share price in December with 11 more trading days to go is between .0004-.0005. The trading in December has been extremely volatile as well as extremely manipulated. Take Friday for example, the note holders/ Shorters we selling 100 share blocks on the bid at .0002 to try and induce selling by retail. This happens to the extent that only one large sale occurred on the bid for 2 million shares probably by retail with less than 2.5 million shares total sold on the bid for the first 100 million shares bought that day. They don't want to sell there because it will more than Likely be below the average thus they would be losing money so they must make retail sell there. It has been thrown around here by many including myself that CSTI is extremely short here and the main assumption here is that they are shorting for the note holders as they stand the most to gain from it. If they have been shorting this to drive the price down, they have converted shares to hedge against the price running away from them as a safety net. It allows them to bring the price down without using their own shares to do it. It also can create enough fear to cover lower. Then they get to fully cover allowing the stock price to gain traction and drive the price up. This is of course after the month of December. After that, they let it run for a time to get the price high enough to sell there shares. This price must be substantially higher as they hold so many. The other school of thought is pretty much the same thing with the minor difference that CSTI is shorting independently of the note holders selling. Either way, we are at bottom and starting to push back up. We only closed at .0003 on Friday because of manipulation and last second painting down by manipulators. If you do follow this, watch CSTI on the bid as it keeps growing as people hit the ask.
Incorrect, if this thing starts to run, the note holders are going to try like hell to keep it down so their conversion rate is not worse than their original deal. If the buying pressure is strong enough, they lose and we continue upwards due to the amount of shorted shares. This is not a pump. Read the Filings.
That's right, unchanged in 3 weeks thus far.
Yes, all of that debt. Whether they pay in cash down the road will remain to be seen. Now as for the "if" and "should" comment, mining companies are hugely speculative for two different reasons. 1. Does the gold/silver/etc.exist on the property they did DD on prior to purchase and 2. Does the current commodity price allow a profit to be made based on the amounts found. The second one also has a small caveat to it in that if the amount of gold found coupled with the current price of gold proves to profitable, it may still be decided to hold off on mining the gold as their may be other factors leading management to believe that gold prices will rise heavily in the near or mid term future. It wouldn't make any sense spend all the money now on mining only to warehouse the gold for future sale. I am quite certain that in the gold rush, people that spend tons of money to get the mining locations and risked life in limb didn't have a guarantee. By your own admission, (by your book), you want a guarantee. You're in the wrong type of stock for guarantees. SPECULATION is the name of the game here and speculation is the mother of all stock runs. GLTU
That is just unproven and reckless to post. Look at it like this, it is right for them to pay their debts? If you answer yes, how do you suppose they do that without having revenues currently? I mean the debt is also related to the asset so you can look at like this, they paid for the asset with shares. This asset, if gold/silver/etc. is located there, contains a value that should be equal to, but for good business sense, contains more value than the debt. If you answer no to my previously mentioned question, you're the crook.
Is it that they have 10 Billion AS count that makes it a scam? That is a ridiculous argument. Popular misconceptions are that the total potential shares are the same as the diluted share count. Look at that, you're popular.
It hasn't gone unnoticed how you never answered any of my questions. As for the debt holders, in due time I will have it posted. I, unlike you, want to make sure all information is available for all to go see for themselves and as you know, that takes time. I don't want people to just take my word for it, not that they would. I would prefer the click on links and view it with their own eyes. Night.
What do you want me to do, stay up all night and chat with you? Night. We can argue tomorrow.
Wrong
I amstill typing it up as you know, there are many companies. However, things come up in life that I would much rather do or have to do such as Christmas shopping so educating some fools falls way done on my list. It is also not responsibility to do your DD for you not that you care since you have an agenda here.
It was partial payment for the White Hills Mine but you already knew that. It is common practice for publicly traded companies to purchase assets or other companies through the issuance of stock. As for your theory, you speculate they are lining their pockets by issuing shares to companies that only exist as fronts for insiders. That's not very logical considering the debt was extended an additional 3 years from the original conversion date and the fact that during this INITIAL conversion, it only took out around 3% of debt assuming a .0003 conversion rate. Your libelous statements aren't fooling anyone here.
Wow, business is business no matter where the company trades. You couldn't possibly be insinuating that giving equity in a company is worse than holding debt? That is just ridiculous.
That's the spirit...
That is correct to a certain degree. It is not that they will get more shares but rather they will carry more debt for future conversion. The amount of shares will depend on the average share price at whatever time they are aloud to convert. The issue here is understanding that the conversion on November 8th was by the book. It was done on the average of the preceding 5 trading days. The reason for the renegotiation is that Ted felt that since within a week and a half the price had come way up and therefore the conversion rate would be much higher and that converting at .0003 wasn't fair to current shareholders. That shows me good intentions here. Now, the debt holders want it to go down but since they started the selling at the top, there is a point where it doesn't benefit them to sell because it ends up being below the average in the end. That is why the games with 100 share and 10k bid hits are being played. They need the sells there but they just can't afford or are not willing to take the risk by selling there themselves. They need retail to do it and thus the scare tactics that have ensued. The thing to remember about future conversions that make it different than this last one is the bad timing. Management couldn't have known that within two weeks, the share price would be as high as it was. That would mean that they knew you, and other would buy driving it up. Impossible to know that. This is not toxic debt as it doesn't carry with it discounted conversions. It is merely based on the average price over the preceding 5 days. Imagine if this scenario would have played out differently. The note holders convert at .0003 in November based on the average price but the price ends up being at or below .0003 right after. They are then holding bags too. It did work out in their favor but it could have never been known that the price would jump. Hence the renegotiation.
Or, he pushes everything off so that they exhaust their shares thus losing ammunition to hold it down the last week or so of December and then he goes on to release one PR after another which would destroy the debt holders goal of keeping a low average since they would not have the converted resources to keep it down.