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Exactly...the magnitude of the squeeze is dependent on (1) the ratio of short shares to outstanding legit shares and (2) the time period in which the covering happens (the shorter time period, the higher it goes quicker). And the third variable is the momentum piece. If the momentum starts and is fueled by more momo players, the top is even higher.
How high will this one go? I don't have a clue.....
Edit: My recommendation: Sell small chunks into the upward swing, and at the ask or above as it climbs.
If you multiply the 66K in shares by the average share price, you come up with less than $6K in dollar amount...it looks like that's what he meant.
It's starting a run up...Could we be at the start of puke time???
That's awesome. I was gone all afternoon and came back and we're up another dime from when I left. Let's get this to run like it has the past couple years!!
I don't want to rain on anyone's day, but we're slated for a 1/100 reverse split. Just came out on the daily list. Sorry for the bad news...
http://otcbb.com/asp/dailylist_detail.asp?d=04/15/2008&mkt_ctg=ALL
I agree, but it would be nice to see it by the end of the year. And due to the rising price of raw coal, I think they absolutely have to vertically integrate their operation to stay profitable, and it's clear that the management sees it that way, too.
No problem. Hope the information helps. With a little time, I think the PPS will be back to where it should be....We're hugely undervalued now.
I listened to the conference call tonight. Kind of hard to listen to because the CEO and COO don't speak English that well. But here's a recap:
- Nothing new as far as the financials go. They pretty much read the Q4 and 2007 whole year as they've released them. They added on several occasions that they are looking to acquire a new coal mine. It kind of sounded like they have something in the works but said they couldn't comment on it.
- They refused when asked to provide forward guidance. They did say that they expect the conditions to be competitive, but that they have an expanding customer base. They sounded optimistic about the future, though.
- They were asked about uplisting. The CEO said that "the groundwork has been done" on uplisting, but they have to meet the minimum price per share requirements for whatever exchange they go to, which they don't right now. He pretty much left it at that. If they meet the requirements they most likely will, and if they don't, they won't (they didn't say that, just my opinion). They did say that they want better access to the bulk of US investors, though.
- There were questions regarding the stock warrants issued 2-1/2 years ago that could not be exercised until the S-1 filing had been approved. The S-1 has been approved as of 3-31 (there's an SEC filing on that, by the way).
- Someone asked about short term and long term debt. Their response was that the company has relatively little debt (a true statement).
Overall, they were positive about future prospects (short of issuing forward guidance). Not a lot of questions were asked. I was mainly interested in forward guidance and the possibility of uplisting. I guess we'll see on both.
So there you have it.
Hmmm...The lawsuit was filed the end of March. Our wonderful CEO forgot to mention that in his "updates" issued a couple weeks ago. Typical pink sheet. I guess we're due for the reverse split now.
Awesome.
I didn't go through the PAIV deal...did they do a cusip change or did they just wait for the brokerages to cover the dividend mistake?
As of now, that makes about 2.6 million with sells in, give or take.
I have no idea if this will do anything at all, but it's kind of a fun experiment anyway. I'm sure a broker somewhere will see this and go "WHAT THE HELL!!???"
AND I SAID THIS ON THE UHCR BOARD...ANYBODY DOING THIS MAKE SURE YOU PUT IN A LIMIT ORDER, NOT A MARKET ORDER!!!
178K at $5.00 for me...
AND EVERYONE DOING THIS MAKE SURE YOU HAVE IT AS A LIMIT ORDER, NOT AS A MARKET ORDER!!!!! YOU WILL BE VERY DISAPPOINTED WITH A MARKET ORDER!!!!
First of all, I was referring to the share structure before the acquisition...I wasn't clear on that. But prior to the acquisition, the TA showed a little over 21 million shares outstanding. They did not differentiate between preferred and common shares. So I'm guessing the entire authorized at that point, 18 million common, 2 million preferred, and an extra 1 million or so for good measure. This was post-divi.
Does anyone have any pre-divi figures from the TA?? If we had that, we might be able to figure out how many were issued in the divi, since the company hasn't been diluting as far as we know...
Hope this makes sense...
Like you said before, even with a 40% BS factor, we still own most of the float. You can throw in my 178,000 as well.
Edit: There are those who point to CEO's of pinky stocks saying this stuff over and over, which is true and usually BS on these criminal CEO's parts. But with this stock, we have verified what Clayton has said through the Delaware SOS and the ungagged transfer agent. And the TA's numbers support what Clayton said that too many divi shares were issued (their last number was something over 21 million total shares outstanding - way more than is supposed to be). Just some thoughts.
CDNKID - That was an excellent post. Hopefully Clayton's auditor has already notified the TA that too many shares were issued in the dividend, so the CUSIP change will have the desired effect.
On another CUSIP note, the FTD shares, or phantom shares used to naked short a stock should be shaken out as well. These show in the form IOU's to the DTC, which the DTC now collects on, if I've got the process straight. Nobody knows how many of these exist, but whoever naked shorted the stock is now responsible to make good on the IOU's, causing a different squeeze. For those of you who have checked, the number of short shares jumped to 89,000 as of March 31. Lord only knows how many short shares there are now...All IMO, of course.
I think that the delay in CUSIP and name change may allow a small amount of covering, but I believe that the actual positions that need covering are much much bigger than anyone thinks.
Look at the daily trading volume from last December and January and compare it to February through now. In the earlier period, the average number of shares traded was 10-40 thousand per day. In February, it explodes to 10 times that (at least). This indicates a much larger short position IMO. When that position covers, the pps should react accordingly.
Just look at the daily volume since February. Not even counting the heavy volume days, there are still 400-500K traded each day. A stock with this low of float shouldn't be anywhere near these levels.
At least the bid is increasing...062 up to .064.
This is about a 99% MM shake and 1% people panic selling right now. But you notice, the down volume is 5K on each for the most part. That ain't retail.
Financials are out today...but only filed with the SEC. I'm assuming there will be a PR out soon, hopefully with some forward guidance.
WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
Sorry, had to do it. Hold on to your arse, the ride's just starting (if it does what it did last year).
In the past they've put out a press release and offered forward guidance....Hopefully we'll see one soon.
If this follows its usual pattern, we should see a good pop from this. You're right...it's a steal down here. This is a good company with a good track record. They said back in December that they're looking to uplist to the AMEX (an interview conducted with some investment company). If you look at the SEC filings, they kept filing amended audited financials until they finally got them right...this has got to be to comply with the standards for uplisting. IMO, of course!!
Somebody must have put in a market order and the MM's went to town...Maybe managed to hit a trade trigger??
I don't know...just saw he was on the ban list. Looks like a 5 day penalty.
Oh man...they threw Titan in jail. Can we take up a collection and bail him out?
Dude...Too much information...
Ameriturd shows the bid and ask at zeros...awesome.
Edit: Not an unusual deal for them...POS.
Today's action may allow them to cover a small percentage of the short position, but based on the trading volume over the past few months, I believe there are many more shares short (particularly phantom shares and improperly issued dividend shares) than most believe. Just my opinion, but this doesn't trade like it has a float of just 8-9 million.
Must be one of the downsides of being a moderator!!
I don't know if he's told ahead of time about when the change occurs, but PRing it ahead of time would be a mistake in my opinion. In order to catch as many MM's with their pants down, little or no warning would be the best way to go, IMO.
I've FUBAR'd enough times in my trading career that I'm not about to second guess someone else's trading strategy. If people are roughly in my position, sitting on an already large gain, I can't fault them for taking some profits.
With that said, this particular situation doesn't present itself too often, and everyone who's in at this point is in the driver's seat. I'm fully expecting this thing to explode, which is why I haven't sold a share and added some yesterday.
Good luck to everyone!!
CUSIP changes hit the phantom shares (naked shorts) hard, and this has been the most effective tool used by companies who have been naked shorted to death.
And the CUSIP change should also force the hand of the brokers who issued dividends improperly, as the improper dividends should be identified when the CUSIP number changes (there has to be an accounting for all shares, is my understanding). I really expect fireworks when the squeeze starts. All IMO, of course!!
It's definitely going to take a push to get over .13, just like it took a few tries to break .105. Fortunately, .105 seems to be pretty good support here. We'll have to see. News. CUSIP chage. More news. How about that?? I think you're playing with fire if you get out entirely here and might end up chasing it. It's up to you, though. We all play the TA game a little differently.
Yep!! The squeeze should be huge. And it looks like Clayton is playing it just right so far.
Today was a "low volume" day....and still over 400,000 shares traded. The actual float (counting the phantom shares, etc.) has GOT to be much much much bigger than most of us think it is. It's not just a few million higher, IMO. That's why I'm thinking the squeeze will be huge once the CUSIP number changes. Just a few thoughts...
I put a buy in at .11 just for grins, and they're not filling it....damn crooks.
When? Or is that a joke?
I'm jumping up and down in one spot...is that excitement enough?