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Keep in mind there are a lot of external pressures on this stock.
The market may say one thing, but there may be reason for others to keep the price down. Others that control how the "tape" gets printed that is.
For instance, the stock has been shorted some of 54M shares. Do you think those that shorted may have an interest in keeping the price down? Where do you think the pps would be if that 54m were covered tomorrow?
Just curious.
I wasn't referring to the posters here.
I was referring to Matt and his cohorts. There are the ones deleting posts, banning posters reading pm's and so in order to control the flow of information to their benefit.
But I guess you already knew that.
I disagree.
The only fault was that people trusted that ihub was a legit site. Which we now have proof that it is not a legit site.
"If people got sucked into a scam and lost money it is no one's fault but their own".
Phil
Anyone listen to the CC?
..."JPMorgan Chase will host a conference call today, June 1, 2009, at 5:15 p.m. (Eastern Time). The general public can access the call by dialing (866) 541-2724 or (877) 368-8360 in the U.S. and Canada and (706) 634-7246 for international participants. The live audio webcast, press release and presentation slides will be available at the firm’s website, www.jpmorganchase.com, under Investor Relations, Investor Presentations.
A replay of the conference call will be available beginning at approximately 8:00 p.m. on Monday, June 1, 2009, through midnight, Monday June 15, 2009, by telephone at (800) 642-1687 (U.S. and Canada) or (706) 645-9291 (international); use Conference ID 12932780. The replay will also be available via webcast on www.jpmorganchase.com under Investor Relations, Investor Presentations."
This is looking way out of hand.
I still strongly suggest hiring an attorney to demand answers. If they do not reply then it's time to take it a step further.
Good work funmaxus.
KaiTrade must not have anything going on with Bloomberg if the are trying to raise another $500?
fsshon, check out the Intermarket Surveillance Group (ISG) and request a "Blue Sheet Audit"
A blue sheet Audit compares a Brokers "tape" with the actual sequence in executing customer trades. If memory serves me correct, one can contact the ISG and request a "Blue Sheet Audit (EBS). The audit will determined if the BD is executing trades in an orderly manner or "manipulating the tape"
http://www.isgportal.org/isgportal/public/home.htmTrading in Security Futures Products
Excerpt from the site:
"To detect manipulation and insider trading, the Commodity Exchange Act and the Exchange Act require that exchanges and associations trading security futures products have procedures in place for coordinated surveillance with other markets on which security futures products trade, any market on which any security underlying the security futures product is traded, and other markets on which any related security trades. The SEC and CFTC have interpreted the statutory requirement for coordinated surveillance to mean that an exchange or association must be: a Full Member of the ISG; an Affiliate Member having entered into appropriate supplemental information-sharing agreements; or have the ability to obtain all information that a Full Member of the ISG is currently able to obtain from both current and former members, including, among other things, the ability to obtain market surveillance reports or information, and information relating to investigations. Any information-sharing arrangement that is not effected through membership in the ISG should ensure that the information sharing is comparable to being a Full Member of the ISG. In a Federal Register release dated May 24, 2002 (page 36750), the CFTC and the SEC issued interpretive guidance regarding the coordinated surveillance requirement and membership in the ISG.
Hope this helps.
Appreciate your posts and thanks for the note fourkids.
I could tell you some stories about the goings on w/ihub.
Maybe if Matt decides to right some wrongs and give me pm's, I could fill you in.
Thx
GT
Almost 100k trades per minute today.
Agreed alliecorp. I'ts good to have funmaxus on board as an assistant mod.
What crime specifically have they committed?
I hope the Judge hits the gavel at least 3 times next week.
1st hit =.18 cents
2nd hit = .30-.40 cents.
3rd hit= and it's on it's way to...wait a minute.. did someone say $12 bucks? holy cow!
(how's that for a formula?)
lol
Hey Gmenfan,
I've seen you contributing on another board and it's good to see you here too. I hope this stock gets you and your pals back in the green with your investments overall
GT :)
Agreed Bizreader, another excellent Mordicai post.
Plus, wasn't there some questionable conveyance issues including an issue of using a purchase agreement not applicable to a holding company? lol Me thinks the wind alone from Judge Walrath's gavel will bring down JPM's house of cards.
And maybe that's why as someone posted earlier, sometimes when a lawyer has made a faux pas, the presiding Judge will "take things under advisement" then hand down a decision later as to spare the lawyer embarrassment. (Not an exact quote but something along those lines)
And under the present administration,
there will higher rates for all!
The net effect the NOL has on the bottom line though, is the same as cash.
..."It negates paying high taxs in future years or owed taxes"
No. Thank you reader!
With people like yourself aiming your (DD) flashlights on the wall, it's easy for tourists like myself to read the handwriting.
Agreed dnoto. 4B keeps WaMu oily.
And what he said....
Posted by: savy Date: Sunday, May 31, 2009 8:55:19 AM
In reply to: JayTheRipper who wrote msg# 74510 Post # of 74517
Im not banking on a buyout so the NOL value to WAMU
has got to be valuable to them. Extrememly valuable.
Mabey not so much to another company Im no expert in that but it just makes common sense that 20 bill in write off's is worth at least 10 billion to your bottom line if they pay in the top tax bracket which Im sure the company does. Plus we are talking about it in context as to why they wouldnt cancell the common shares. TPG owns over 200 million of them. They got the shaft harder than any one single investor. Why would they cancell them and screw themselves. Either a buy out will happen or they emerge strong. There is no bad scenario here in my opinion. We'll se sooner than we think.
Keep in mind the ploy used in the take over of WaMU.
As I recall there was no insolvency issue with WaMu. The take over was merely a contrived event between the FDIC and JPM. Once the dust settles, I think we will see that the protocol used for failed banks does not apply here. IMO, WMI/WaMu will be made whole (at least for accounting purposes) and that number will be used to calculate the settlement. In this case because the bank did not actually fail, the NOL benefit will be left in tact.
"Conclusion
Whether one is involved in a reorganization of a troubled corporation in or outside of bankruptcy, or is contemplating the acquisition of a corporation with NOLs, significant analysis and planning needs to be conducted to determine the amount of NOLs that can actually be used by the corporation. In some situations, good planning opportunities may be available, but more often the advice of the tax professionals will mainly aid in damage control. Still, given the relative high value of NOLs and other tax attributes of a severely troubled corporation, the value of timely tax advice in this area can’t be understated."
Doesn't the 4B ruling insure the NOL for the commons?
YEAH baby!
Just think though, the implications of WMI and Co being vindicated could be worth treble and that's a whole lot more then a token 4b lol.
IMO, all eyes are now looking at the high water mark of uncertainty with regard to the outcome for WMI and Co. The turning point of this outcome hinges on which side Judge W's gavel domes down on. And finally after some 8 months it can happen at any time now. If as expected, the Judge rules for WaMu on the 4b and discovery, it's all over for the shorts I would guess.
So as the gavel is struck, .18 cents then .30 cents .40 cents and a dollar and more will surely happen. Next week or in the weeks immediately following when we see the money is the only concern we have to sort out now so enjoy the rest of the weekend and relax. From here on out, It's all in how the Judge swings the hammer next.
And you can bet the MM's have their feelers out for what's "blowing in the wind" but they may still get caught by surprise if a "material event" takes place that causes the stock to become halted. Oh my.
Want to try that again in a manner that makes sense?
"theft that wasn't a theft"? and "It was time enough to initiate a derivative action against Paul"
what is a theft that wasn't a theft and did you or did you not file an action against Paul?
Bernie is the one on the top floor in the corner cube. Matt will be in the laundry room.
I don't think many would argue the fact that Paul and Errol need to be pinned down.
"I don't know about Matt and Bernie, but you won't get an argument from me."
funmaxus, I believe one or two here may have done it but the last sentence of my last post was not directed at you.
" I don't think checking the complaint box on the FINRA website and writing a few snide comments will work.
Perhaps, but I am seeing a "scam pattern" forming here and no matter how smart Errol may think he is, one can't just keep perpetrating scams on the public with impunity.
Ask Bernie or Matt and see what they say. They both thought they were smart.
POOF!?
It's going to take some good detective work to backtrack Paul and see where, if and how he has managed the ownership of the proprietary IP assets. That's why I suggest an attorney write a "Demand Letter" I'm sure he knows he can't just hide or otherwise play a shell game with the asset the shareholders have funded.
Perhaps because of all the threats he received from certain posters he may have tried to "protect" the asset by moving ownership to Kaitrade thereby making the asset a moving target? Did his advisory board because of Paul's big mouth put a lease on him and let John do what Paul couldn't seem to accomplish? Or he could have been in so deep with back pay to Unwin that he signed over a percent of ownership to Unwin? Could WindRiver be an incarnation of all the past attempts where now all the old hands get back together and it actually flies this time?
I have not a clue either but It may be time to hire someone to find out. I don't think checking the complaint box on the FINRA website and writing a few snide comments will work.
If the alleged complaint is written in the same manner and style as I've seen here then I wouldn't expect to see it to go any further then the wacko file lol.
Not to say there isn't increasing concern due to the lack of communication from the company .
Maybe a better idea than filing a complaint is to have an attorney write a letter on behalf of a few concerned shareholders and request information regarding funmaxus's findings for starters.
The storm may have started in a cup but I'm sure it will cut a big swath. In fact, I'd like to see ihub shut down while their computers are searched for more fraud.
I don't know about the "punters" you mention.
Thanks for all the DD and posting your info funmaxus.
I'm all for bringing these guys to the surface by shining some light on their activities and intensions. Anyone have an idea how to do that?
Must be what, a "generation x" syndrome?
While the preponderance of evidence suggests Matt will be doing time, I don't think the gravity of the situation will actually sink in until he hears the jail house door latch shut behind him.
IMO, juvies such as Matt that have been raised on video games and keyboards are numb to the effects of their actions in the "real world"
I'll bet Matt didn't stop to think about the lives of the people behind the screen names that he was stealing from.
Ihub to Matt is a lucrative video game where he always wins. Until now that is.
Over time, the real world has a way of revealing ones true nature.
Ok that's cool. Just wondering.
Me thinks something is brewing as well :)
Who was the someone?
It means.......
COVER!!
*Increased speculation will drive the pps up by close on Friday.
Due to recent events, air over the JPM FDIC WaMu WMI case is highly charged. In fact the air over the whole banking system is setting up for a big change.
In WaMu's case, all it's going to take for the stock to explode at any moment from here on out, is a spark from Judge Walrath.
Walrath could make a decision after the market closes today or Monday or any time so I would not be out waiting for a dip to get back in. We know that the upcoming decisions are pivotal to WaMu's outcome.
As a result, IMO it seems likely that *market speculation (on a turning point decision by) Walrath this weekend, will put enough pressure on the buy side that the mm's will have to let it run causing a massive cover.
Thanks for the tip tomkin. Shareholders and the public in general should be alerted to the scam that Matt got ADVFN involved in.
The word of Admin Matt's corruption is spreading. Odds of ADVFN sweeping this under the rug are getting thinner by the day. Here's an article that hit Bloomberg.
http://pennystocks.12buzz.com/?p=1113
Bend Down Matty Brown: SEC Sues Eight in iHub Fraud Ring
By Sophia Pearson and Phil Milford
May 21 (Bloomberg) — The U.S. Securities and Exchange Commission sued eight people in Florida, California and Delaware, claiming they generated more than $6.2 million in illicit profits by manipulating stock prices in four companies.
The group allegedly pumped up prices of GH3 International Inc., Asia Global Holdings Inc., Playstar Corp. and Xtreme Motorsports of California Inc., the SEC said today in a statement. Delaware’s Acting U.S. Attorney David C. Weiss separately announced indictments in the case.
“The integrity of our nation’s public stock markets requires protection from those greedy few who engage in market manipulation at the expense of many,” Weiss said in a statement.
Pawel Dynkowski, 24, of Newark, Delaware, is accused of carrying out the scheme with people he met through a penny stock Web site called InvestorsHub.com, operated by Matthew Brown, 26, of Aliso Viejo, California, according to the SEC complaint filed yesterday in federal court in Wilmington, Delaware. The group timed manipulative trading to coincide with false and misleading press releases purportedly issued by the companies to “hype the stock,” the SEC said in its statement.
In addition to Brown and Dynkowski, those sued by the SEC are Jacob Canceli, 50, of Mission Viejo, California; Gerard J. D’Amaro, 38, of Pompano Beach, Florida; Joseph Mangiapane Jr., 43, of Laguna Niguel, California; and Marc J. Riviello, 50, of Redwood City, California.
Delaware Indictments
Mangiapane is the chief executive officer of Rubicon Financial Inc. The SEC also charged Nathan M. Michaud of Boston, a Web site designer, and Adam S. Rosengard of Voorhees, New Jersey, who was a student at the University of Delaware.
GH3, based in Las Vegas, provides an anti-aging formula, according to the complaint. Asia Global, based in Hong Kong, is a media company. Woodbridge, Ontario-based Playstar was involved in communications and Xtreme, based in Bakersfield, California, makes dune buggies, according to the complaint.
Indicted in Delaware were Dynkowski, Mangiapane, Riviello, Brown, Canceli and D’Amaro. A nine-count indictment filed on April 16 and unsealed today charges Dynkowski and Mangiapane with securities fraud, wire fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering and money laundering offenses.
Dynkowski and D’Amaro are also charged in a four-count indictment filed on April 30. The other men are charged in separate indictments. Angelo R. “Bill” Panetta is charged with one count of perjury and one count of obstruction of justice in connection with his testimony before a grand jury.
Mangiapane and Riviello didn’t immediately return messages seeking comment on the case. The others either couldn’t immediately be located by e-mail or through business and residential phone directories.
The case is SEC v. Dynkowski, 09-361, U.S. District Court District of Delaware (Wilmington).
To contact the reporters on this story: Sophia Pearson in Wilmington, Delaware Spearson3@bloomberg.net; Phil Milford in Wilmington at pmilford@bloomberg.net.
Time to short this POS! Matthew W. Brown (ADMIN Matt) former owner of IHub and current ADVFN employee has been charged by SEC in using IHub as a personal vehicle to pull off Penny Stock SCAMS!
ADVFN shareholders can learn more about it here!
http://investorshub.advfn.com/boards/board.aspx?board_id=15452
Here's the story!
http://www.sec.gov/litigation/litreleases/2009/lr21053.htm
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21053 / May 21, 2009
Securities and Exchange Commission v. Pawel P. Dynkowski, Matthew W. Brown, Jacob Canceli, Gerard J. D’Amaro, Joseph Mangiapane Jr., Nathan M. Michaud, Marc J. Riviello and Adam S. Rosengard, Civil Action No. 09-361 (D. Del.) (May 20, 2009)
SEC Charges Eight Participants in Penny Stock Manipulation Ring
The Securities and Exchange Commission (“Commission”) announced today that it filed a complaint in the United States District Court for the District of Delaware against Pawel P. Dynkowski, Matthew W. Brown, Jacob Canceli, Gerard J. D’Amaro, Joseph Mangiapane Jr., Nathan M. Michaud, Marc J. Riviello and Adam S. Rosengard. The complaint alleges that in 2006 and 2007, Dynkowski, a Polish citizen who resided in the U.S., engaged in market manipulation schemes with at least four separate stocks: GH3 International, Inc., Asia Global Holdings, Inc., Playstar Corp., and Xtreme Motorsports of California, Inc. As alleged in the complaint, Dynkowski’s co-defendants each participated in one or more of these schemes, which together generated more than $6.2 million in illicit profits.
The SEC’s complaint alleges that these fraudulent schemes generally followed the same pattern: Dynkowski and his accomplices agreed to sell large blocks of shares for penny stock companies in exchange for a portion of the proceeds. The companies put these shares in nominee accounts that Dynkowski and his accomplices controlled. The defendants pumped the market price of the stocks using wash sales, matched orders and other manipulative trading, often timed to coincide with false or touting press releases by the companies, to give the market the false impression that there was real demand for these stocks. After artificially inflating the market price of the stocks, Dynkowski and his accomplices then dumped the shares obtained from the issuers and divided the illicit proceeds.
The SEC’s complaint further alleges that:
The pump-and-dump scheme involving GH3 International, Inc. stock occurred between October and December 2006. Dynkowski orchestrated this fraud with Matthew W. Brown, who operates a penny stock website called InvestorsHub.com. Brown introduced Dynkowski to a representative of GH3 and to Jacob Canceli, a penny stock promoter who participated in the scheme. Brown acted as a liaison between Dynkowski, Canceli and the issuer. Dynkowski and his associates used wash sales, matched orders, and other manipulative trading, timed to coincide with false, misleading and touting press releases by the company, to inflate the price of GH3 stock. Canceli provided the accounts from which Dynkowski subsequently sold purportedly unrestricted shares received from the issuer. The scheme culminated in mid-December 2006, with Dynkowski dumping 312 million shares of GH3 stock for total illicit proceeds of $747,609.
Brown planned the Asia Global pump-and-dump scheme with Joseph Mangiapane Jr. and Marc J. Riviello, who were both registered representatives at a small broker-dealer in California. Dynkowski and Nathan M. Michaud, who met through InvestorsHub.com, pumped the price of Asia Global stock using wash sales, matched orders and other manipulative trading, coordinated with false, misleading, and touting press releases by the company. The scheme occurred in three cycles: August-September 2006, November-December 2006, and January-February 2007. After manipulating the price of stock, Dynkowski, Brown, Mangiapane and Riviello dumped more than 54 million shares that had been improperly registered on SEC Form S-8 and held in nominee accounts. The illicit proceeds from this scheme totaled at least $4,050,529.
Dynkowski and Gerard J. D’Amaro carried out the Playstar pump-and-dump scheme. The two of them met through InvestorsHub.com. D’Amaro acted as the liaison with the issuer as well as the nominee account holder for the purportedly unrestricted shares received from the company. In this scheme, which occurred during October and November 2006, Dynkowski pumped Playstar’s stock through wash sales, matched orders and other manipulative trading. Dynkowski and D’Amaro sold 11.5 million shares for total illicit proceeds of $1,180,294.
Dynkowski and an accomplice carried out the Xtreme Motorsports pump-and-dump scheme. The two of them, who met through InvestorsHub.com, pumped Xtreme Motorsports stock through wash sales, matched orders and other manipulative trading during January and February 2007. Dynkowski’s friend, Adam S. Rosengard, served as the nominee account holder who facilitated the dump of 13 million purportedly unrestricted shares of Xtreme Motorsports stock. After pumping the stock, Dynkowski sold the shares from Rosengard’s account generating illicit proceeds of $257,646.
The SEC’s complaint alleges that Dynkowski and Brown violated Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 (“Securities Act”), Sections 10(b) and 13(d) of the Securities Exchange Act of 1934 (“Exchange Act”), and Rules 10b-5, 13d-1 and 13d-2 thereunder; that Canceli, D’Amaro, Mangiapane, and Riviello violated Sections 5(a), 5(c), and 17(a) of the Securities Act, Section 10(b) of the Exchange Act, and Rule 10b-5; that Michaud violated Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act, and Rule 10b-5; and that Rosengard violated Sections 5(a) and 5(c) of the Securities Act. The complaint seeks against each defendant a permanent injunction against future violations, disgorgement of ill-gotten gains with prejudgment interest, and civil monetary penalties, and, as to certain defendants, orders barring them from participating in penny stock offerings.
The U.S. Attorney’s Office for the District of Delaware also announced today felony criminal charges against Dynkowski, Brown, Canceli, D’Amaro, Mangiapane, and Riviello.
The SEC thanks the U.S. Attorney’s Office for the District of Delaware; the Department of Homeland Security, Immigration and Customs Enforcement; the Internal Revenue Service – Criminal Investigations; and the Delaware State Police for their assistance in this matter.
The SEC’s investigation is continuing.
You will soon see more than a 2% drop.
Once news gets across the pond that ADVFN has been implicated in the ihub fraud scheme, it will take more than "page views and click throughs" to feed the bottom line.
IMO, Because ADVFN allows the alleged perps to continue with business as usual, ADVFN is acting as an accomplice and will be held accountable.
Maybe 'cause it's easier to keep coming back to the well then it is to actually keep a promise?
These guys are looking as stupid as the 26 year old kids driving Lambo's and doing $250 shots with shareholder money.