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I sold my FFGO, it will probably go up now. Had bought most at .0001, sold for same. Held way to long. Wanted the cash to trade elsewhere.
Trader
Nevada still says 180 mil A/S. There was talk of reducing it to 80 mil. Also wondering if the shares bought back in June were ever canceled and removed from float.
Trader
Hi Gail,
Making any $$$$ in this market? Any .0001 moving today?
Trader
It seems most here want to talk about who the deal is with and when it will be done. I am just wondering if anyone has information as to what the current O/S is. I think someone wrote Galo some time ago and asked about the share structure because the T/A doesn't give it out. Last time it was mentioned in a PR was June. Has it changed?
If we don't have a current figure I'll write him myself and see if we can get one.
Trader
L2 anyone? How many on ask @ .022
Selling 100 share lots?
Scovillez,
Yeah I just happened to pick SOV because it was a bank in my area. Didn't do much research on it. Glad I did not buy any before the contest, but wish I had bought some yesterday to flip. Who knew?
Trader
Don't be! Just checking in before I go to bed. Off work tonight.
Just lurking!
Is SOV next? Down 65% so far today.
Sorry it did not say "worthless". It does say:
Also this week, the FDIC took the step of reaching out to banks, asking them to express interest in taking over some or all of WaMu, according to people familiar with the matter. Those bids were due at 6 p.m. Wednesday. J.P. Morgan's takeover of WaMu's deposits represents a huge blow for private-equity firm TPG, which injected $7 billion into the thrift this spring. The transaction is expected to wipe out WaMu stockholders and holders of the company's senior debt, one person said. A key unknown: the fate of WaMu's bad assets, which include mortgage loans that have soured as housing markets tanked
IMO JP Morgan is not buying out theh shareholders, doesn't want all of WaMu only taking parts.
Morgan Chase website says there will be a conference call at 9:15 tonight. Link Below.
http://investor.shareholder.com/jpmorganchase/press/releasedetail.cfm?ReleaseID=336883
Here it is says stock will be worthless.
http://online.wsj.com/article/SB122238415586576687.html?mod=yahoo_hs&ru=yahoo
Link J.P.Morgan takes over WaMu
http://online.wsj.com/article/SB122238415586576687.html?mod=yahoo_hs&ru=yahoo
I'm not in WM. Feel sorry for those who held overnight. Though it may bounce in am. Depends on details of deal government brokered.
I'm just hoping there is no problem getting money. This credit mess could ruin even a good deal. I know Baron's is worth it, just hope buyer has lots of cash. J.P. Morgan just announced taking over WaMu. Another bank lost to credit woes.
J.P.Morgan just announced taking over WaMu deposits and some branches. Doesn't look good.
The transaction is expected to wipe out WaMu stockholders and holders of the company's senior debt, one person said.
Quoted from article at: http://online.wsj.com/article/SB122238415586576687.html?mod=yahoo_hs&ru=yahoo
That was shhort lived. Back to .0002 now.
Didn't burst my bubble? Oh I'm just so upset. Not really. I know BIHC is going to put out that PR sometime soon. Today would have been nice. It will probably come at a time when we least expect it.
WOW! Up 100% today. Where's everybody at?
Slazenger,
The stock price could be much higher a year from now? But how many trading pinksheets are really willing to hold that long.
I want more information before deciding to hold for a year. Don't get me wrong I trust Galo, but some financials and an official share structure update would be really great.
Trader
PLO,
IMO Most people would have to sell for at least twice the dividned in order to make more net profit. I say this because short term capital gains tax is higher than tax on dividend. And if you waited to collect the dividend you could still sell the stock later, obviously at a lower price, but that would also mean less capital gains tax.
Of course this would be different for each individual. If you had a large loss from other stocks and the gain from this stock was equal to that amount you would not be taxed at all.
Trader
Red,
Personally I think we should let the market take it's course. If it means many fail, then they fail. People are responsible for their own decisions. I have made some bad ones and had to live with them.
I do feel sorry for the people who might lose their job and retirement investments, etc. But this is how the market works. Their choice where to work and where to invest.
Trader
I would agree with you. Think they could get more from the homeowner if they were willing to compromise than they will ever get from the market.
Red,
My guess is greed. Most financial institutions don't really care about the consumer. They are in it for the almighty dollar. Use to be they would just take the house and sell it. That has become a problem now for several reasons. So many are failing. Falling market prices. And the fools let people buy with no money down so there is no equity.
Trader
Have you been watching the hearings. They want to add student loan and credit card debt to the debt thay are allowed to purchase with the 700 billion.
Look out! At least mortgage debt has some value - the assets put up as collateral. There is no value behind the credit card debt.
Hooter,
I agree with your perspective. Will have to really think about price. Know I would not sell for less than at least double the dividend. Also expect to keep some portion for divi. Just don't know how large or smallthat portion will be.
Trader
Wallstreet,
I'm in this for the divi, but if it rockets I will sell some. Example: $1.00 is better than the divi. I just don't believe this stock could hold those levels ex-divi date.
Trader
PLO,
I agree with Wallstreet we are in days of internet and fast communication. Rumors spread quick and people get excited. Doesn't take much for this stock to go up because so many are refusing to sell. Some days I almost want to sell some, but decided months ago in it for the PR. Waiting.......
Trader
Stockseekerok
My question is will I get the old dividends. I did not own on the record dates. But the dividend was not paid and is not quoted ex. So IMO it is still carrying a "due bill" for those dividends.
Trader
I would call the IR but believe the SEC over him and SEC says stock would carry a due bill see
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32364348
This is from the SEC link I posted:
Sometimes a company pays a dividend in the form of stock rather than cash. The stock dividend may be additional shares in the company or in a subsidiary being spun off. The procedures for stock dividends may be different from cash dividends. The ex-dividend date is set the first business day after the stock dividend is paid (and is also after the record date).
If you sell your stock before the ex-dividend date, you also are selling away your right to the stock dividend. Your sale includes an obligation to deliver any shares acquired as a result of the dividend to the buyer of your shares, since the seller will receive an I.O.U. or "due bill" from his or her broker for the additional shares. Thus, it is important to remember that the day you can sell your shares without being obligated to deliver the additional shares is not the first business day after the record date, but usually is the first business day after the stock dividend is paid.
It looks to me like the stock is still carrying a "due bill" if there has been no ex-date or pay date.
http://www.sec.gov/answers/dividen.htm
So even though I did not own back then I might get the dividends because I own now? If they get the pay date set up.
Waman,
The first three dividends have no ex-date. IMO this means they are moving through the market with a "due bill" and the current holders would get those dividends.
Check this link from the SEC and let me know what you think.
http://www.sec.gov/answers/dividen.htm
Trader
Not much, still waiting on the PR announcing divi date.
That way I would have at least my initial back and now worry about loosing it all.
I've had them awhile. 43 million Kept them thru the last run(Duh!). Smarter this time. Plan to sell half at .0003 to .0005 range. Depends on how it holds up. Will sell more if it goes higher.
Hi gail,
Worked a double shift nights into days. Missed posting today.
In FFGO at .0001 2's look to have gotten hit pretty hard this afternoon. Waiting for another big run.
Trader
the pps will spike in november
Is this when you think the dividend will be announced?
SOV is my pick, though I'm usually not into contests.
Insider?
Never said he worked for the company or did business with them.
Carpe,
I don't believe that Galo would have sold any of the shares not already in the O/S. He was buying back shares and I remember a PR somewhere that his intention was to lower the A/S to 80 million at a later date. Thought if someone else owned restricted and the restriction came off they might have sold some into the float. Just find it difficult to believe there are so many short shares in the market, but can't really come up with any other answer. That said I guess it will be really great for us who hold tight when the dividend is announced and someone has to cover!
Trader