Planning
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Consider that a tip if Bush pulls the trigger.
P&D.
So he now suing himself for malpractice?
Ignis aurum probat, miseria fortes viros.
AK, Do you know how to ride a horse.
Futue te et ipsum caballum
Correction they read latin.
That is not mea culpa. How could one expect a heathen to understand a dead language.
Keep the lass!
Help I need a lawyer who speaks latin!
Can't you read latin?
Mea culpa, mea culpa, mea maxima culpa.
You can't tos me! Its Fung's board.
The numbers. You idol! 12 12
Damnit. A missed opp. Now that I finally figured it out.
Not quite. The ball is now in the hands of FERC. Now go take a head count.
I hope he mentions Dick's energy policy!
And returned.
I can't wait that long.
That would be right after the R/S.
Watch it buddy. It's the energy company that has seen the Enron of its ways. I mean error.
p.s. What's long term to you?
Same as next week and PCBM.
$8.50 is my target for long term.
Fung, The truth is buried.
Would I do that to you? My concern was that you bought back Fri when you mentioned the 100MM.
They all have me on ignore! eom
A classic example of people investing on hype instead of fundamentals is LU this a.m. It's up after posting a loss. It's market cap is around $6B with shareholder equ of $900MM.
fung, I disagree. PCBM is a case study in why one should be very careful when investing in penny stocks.
Your best quote that I keep refering to, To be long in a penny stock is to be too long. Or words to that effect.
There was a good read on pink sheet stocks in the WSJ yesterday btw. It was interesting that Nestle trades on them. Only to avoid SEC filings.
A lot of it is hype/pump posted on BBs. Take a look at the under 5 board here. It should be renamed Under a Nickel. lol.
And don't forget the evil shorters that everyone complains about.
We are pretty much in agreement I believe.
When someone opens an account with a broker, they should be directed at that point to resources that explain financial statements & how the markets work. The SEC could set up the resources but it would be up to the broker to direct them to that resource.
The SEC needs to make that a regulatory requirement! And in plain english.
That would require a disclaimer statement and a certain amount of liability.
However the SEC should "require" brokers to make those resources available to their customers. Or at least tell them where they can find out that information.
Much like how the FDIC makes banks disclose interest calculations etc.
Post-Enron Restatements at Record Highs
Like him or not another Pitt accomplishment. Make the CEO & CFO sign off on all FS. Unfortunately he stopped short and should have made it mandatory for ALL COMPANIES.
In 2002, the number of companies restating results from previous years because of accounting problems shot up 22 percent to 330, according to a study by Huron Consulting Group released on Tuesday.
The restatements come against the backdrop of a crisis of confidence in corporate financial statements after a spate of accounting scandals brought down mighty companies, including telecommunications company WorldCom Group (Other OTC:WCOEQ.PK - News), energy trader Enron Corp. (Other OTC:ENRNQ.PK - News) and venerable accounting firm Arthur Andersen. Office equipment maker Xerox Corp. (NYSE:XRX - News), finance company Household International Inc. (NYSE:HI - News) and energy company CMS Energy Corp. (NYSE:CMS - News) either restated or announced their intention to restate earnings last year.
The main problem is there are few people who know how to read FS. One of the pluses that Pitt accomplished was having a link on the SEC website to all filings. One only needs to look at the BS (no pun intended) to see what's up with a company. Look at the companies that are moving to the BBX. Trying to save themselves from the shorters, when their is nothing of intrinsic value to save. PT Barnum was right and people refuse to listen after all these years. Shorting is legal and their's a sucker born every minute. Let the buyer beware.
And it goes both ways for companies that are "overvalued". WCOM was a classic example. Through their M&As they just kept piling on the Goodwill. Along came FASB and stuck it to them.
Any one investing in the market today as a retail customer should take a course that teaches "Understanding Financial Statements". Most community colleges offer these and it would protect investors from BS on BBs.
~~~~~COMPX 01/22/2003~~~~~
Previous Close - 1,364.25
1340.75 NoMoDo
1350 Rick
1359 Susie924
1367 Churak
1375.75 Phil
1380 BullNBear52
1385 AKvetch
1390 Albert
GENEMAX CORP. a $20 company?
(formerly Eduverse.com)
(a development stage company)
CONSOLIDATED BALANCE SHEETS
9/30/02
ASSETS
CURRENT ASSETS
Cash $ -- $ 11,561
Prepaid expenses 6,000 --
FURN AND EQUIP 117,362 147,909
----------- -----------
$ 123,362 $ 159,470
Susie, Think I dropped enough hints for em? I know for a fact JMC & Alan have me on ignore.
Churak, What you said is correct. You can short a low dollar stock in the U.S.. In my case out of a margin account with sufficient equity to cover the $ amount of the trade. It's done by % depending on the price of the stock. The lower the PPS the higher the % amount.
I received an email response the same day advising me that shorting of BB stocks was in fact allowed by the SEC and that it was up to brokers as to whether they would allow their clients to do this.
Better yet is the fact that they have us on ignore and are clueless to what has been going on. Talk about bag holders.
That's enough fun for today. eom
BTW GUNS got a chuckle.
Probably no comment. Huck you following Liz!