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Things just got real here.
The case wasn't "thrown out" per se. It was dismissed and ruled as a SARE.
In this situation, a company (SIRG) has two options...
(1) make payments to their creditors.
or
(2) present a plan to recover (the OROT buyout / merger).
I think they are going with option 2. Who knows?
May turn out to be nothing but could be a good lotto play around these prices.
Very true. And some believe that sharing their opinion with a reporter is news worthy but they would be wrong. I have been here for a long time and know more about SIRG than most on this board. IN MY OPINION, this is the best SIRG has looked in a long while.
Not really news. Just an opinion piece by a small town reporter who essentially reported the (worthless) opinion of Robert Brown.. whoever that is. My assumption it is someone who has been or trying to drive the price down further to buy shares.
If some other "Joe Blow" sent the reporter positive information regarding SIRG and OROT, the article would have been a lot different.
How is it that so few investors understand a loss carry forward. $21.5MM in tax deferrals adds that much more value to a reverse merger. That alone gives OROT $21.5MM more profit and pays for the merger many times over.
The A/S has never been 5 billion.
On 1/11/2012 they filed to increase the A/S to 1,500,000,000 in an effort to secure funding for the mine.
Later that same year, the re-evaluated their position and retracted that increase in order to maintain value in the common stock.
On 1/22/2013 they filed to increase the A/S to 990,000,000 and that is where it remains today... under 1 billion.
216 hours?! OMG! That's like three quarter of a million seconds!!!1!
Agreed but two points on this...
1.) If Sierra had something definitive to announce, they would.
2.) The fact that they have not taken advantage of the hype and released a "fluff" PR just to pump their stock is encouraging.
It is obvious that something is in the works here that they aren't ready to release yet. When there is something to announce, Sierra / OROT will announce it.
It wouldn't make any sense for SIRG / OROT to pay OTC if they intend to reverse merge and uplist to a higher tier market. If OROT is going public, they will want to be in something better than OTC.
Could be. I've seen some pretty strong Q runs.
The hemp market is about to be huge...
http://www.bbc.com/news/science-environment-28770876
Holding strong for a Friday.
More copper than a penny actually.
75% Copper
25% Nickel
I like "GDSM going to a copper" even better now.
He is registered in Florida and recognized by the SEC as current. The link to the SEC information has been provided many times. Unless the SEC is trying to deceive everyone, I think we are OK.
Proven false multiple times. SEC and state of registration has GDSM's Corso as registered and current.
No idea. I'm using E*Trade and haven't ever had a problem.
Highstakes... Use E*Trade.
A halted stock would have no trades. GDSM is trading MASSIVELY today!
That is true. GDSM has gained a bad reputation from its past and previous CEO which is part of the reason the price is where it is today. Mike is fully aware of this and admits it. However, investing in this stock or any stock is about potential future gains through company growth and dividends. Don't expect dividends here but the growth potential definitely looks more promising now than it ever has in the past. And as every investor should know, getting in BEFORE the growth happens (or starts) is more profitable than after.
It will take positive proof from Mike to rinse the bad taste of GDSM's history out of a lot of investor's mouths and hopefully we will have it soon. For those investors that have got burned here, it is understandable that they are bitter and skeptical of GDSM's future. It is hard to look forward and not backward.
Here is the real question though... Looking at GDSM right now (disregarding history) with what the new CEO has done in a relative short period, is the investment worth the risk?
IMO it is because GDSM is actually tangible now. The merchant websites are real. Were the gold mines ever real?... who knows. We as investors were not able to actually interact with that venture. We CAN interact with the websites and buy product if so desired. That may not be much now but it is at the very least proof that GDSM has SOMETHING... a start.
As for the future of GDSM... who knows? It will take time, a lot of effort from Mike (which he seems to be doing) and investor patience.
Investors need to keep one thing in mind for GDSM... Mike is not starting from ground zero here. He actually started in a hole and has been digging GDSM out. From what I can tell though, the reverse momentum is about to come to a halt and forward progress about to begin. IMO, once this train starts moving forward, it will be the ride of a lifetime!
GLTA!!
No worries. ScotTrade is just strict on sub-penny stocks and don't allow online buy orders for a lot of them. All one has to do is call to place the order.
It MAY not require a 500Mil day to get there IF audited fins are released that show actual revenues. IMO, accountability and verifiable information showing legitimacy and a move positive should change the sentiment of this stock going forward. At that point we will be in something new... somewhere this stock has never been before. At that point... throw history out of the window and a smart investor would pull all sell orders off the market.
I'm not saying that it WILL happen but if it does then I'd much rather be in at these levels now than what it could be afterwards.
ROFL... OK. Let us know how that turns out.
A company can request that their AS be reduced with the state of registration but that is a separate process and rarely happens. If only an R/S is done then only the OS is affected. That is why an R/S is looked upon so badly in this market. A company can reduce the amount of shares in the market while effectively increasing the authorized shares available to sell.
Example...
A company has 6 billion shares authorized (AS) and they are maxed out with 6 billion shares outstanding (OS) in the market. If they did a 2-1 R/S then they would still have 6 billion AS but now only 3 billion shares OS at double the price in the market. That would then give them 3 billion more shares free to issue.
An R/S only reduces the OS count. The AS remains the same.
Has Mike ever said anything about trying to get out of this teir? That would be a nice goal for GDSM for if and when audited fins are done. Still a ways to go for that but I think Mike is getting this turned around.
I know this has come up before but I think it IS a different Corso.
The SEC has "our" Steven J. Corso listed as an approved and registered CPA.
Click through the links on the right of this link for section details on current filing info...
http://www.adviserinfo.sec.gov/iapd/content/viewform/adv/Sections/iapd_AdvRegulatorStatusSection.aspx?ORG_PK=142184&RGLTR_PK=50018&STATE_CD=FL&FLNG_PK=059F3C880008017300F2C47004D78C0D056C8CC0
Here is the complete info...
http://www.adviserinfo.sec.gov/iapd/content/viewform/adv/Sections/iapd_AdvAllPages.aspx?ORG_PK=142184&RGLTR_PK=50018&STATE_CD=FL&FLNG_PK=059F3C880008017300F2C47004D78C0D056C8CC0&Print=Y
"Negative working capital" and "incurred cumulative losses" is not a debt owed.
Since GDSM has not had any revenue (until recently... maybe), expenses have been covered by the issuance of shares. The issuance of shares covers the debt but is counted as a loss for the year since there is no real offsetting revenue.
The "incurred cumulative loss" is the summation of these years of "loss" and is allowed by the IRS to be used as a tax offset for future earned profit. What this means is that GDSM doesn't owe $14Mil but it is on their "books" as a loss for future use against taxes. GDSM won't have to pay taxes on $14Mil of future profit. Look up "deferred tax assets" and "net operating loss carry forward" for more info.
Same thing was said about the internet and e-mails 20 years ago. Not my preferred method but I am glad that he is communicating.
Many companies do since the SEC ruled it as a valid means of company / investor communication.
What's amazing is how many investors still fall for it. That lesson cost me over $1mil years ago. Won't happen again.
Looks like yesterday was all retail selling because of news and panic. PPS needed a down correction anyway since it was up too fast. The PPS will (at some point) ALWAYS fall back below the upper Bollinger band and the higher above it goes, the farther and faster it will fall below. The PPS is still at the top of the channel and we are still at higher lows since it began going up. This is a pull back just like the last two pull backs we've had since the start of this. Trend is still up (look at the daily lows).
From the chart I just posted...looks like someone or a group is loading. Could run on a momo play.
What's the post #?
Sticky removed. Let me know if you want another put up.