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It was a STATE filing, not a filing with the SEC. However, this company hasn't filed squat with the SEC in years...that's why they are non-compliant listed over at the Pinks.
Yes it was a public filing, but it's not a normal place you go to find the info on a company. Sorry, it WAS kept under the radar. Most of this info you find out in 24 hours after an 8-K filing with the SEC...but this company could give a rats ass about SEC filings.
I'm just in this for a quick trade...but I sure wouldn't trust this management company at all for anything long term.
This is what I wrote about yesterday. They have to submit another amendment to their articles of incorporation with the Secretary of State of Florida canceling the previous amendment. Until we see that in another filing, the reverse split is still on schedule. If they just meet and talk about rescinding the reverse split...that's all it is...just talk at a meeting.
But...and this is a big but..they know they are under the microscope now. They managed to keep the R/S a secret since April, and that lost a lot of trust in them.
Then why isn't filed with any of sec sites
I don't believe for one moment that filing is bogus, faked, hacked, photoshopped and every other conspiracy posted since yesterday to deny it. That is a legitimate filing with the Florida Secretary of State, Division of Corporations.
I think they put this in motion in April and it bit them on the butt when it was accidentally discovered by somebody doing some deep digging DD yesterday. There was absolutely NO transparency during the entire time this went down, from the board meeting that made the decision on April 30, to the Filing on June 3. This was all done in secret. Now they are scrambling to do damage control.
R/S? where did u hear that? could u give me a link? thanks.
Duh...LOL. I meant since after that first day. Good catch.
AFTER THE LAST REVERSE, THE STOCK TRADED AT .08, WITH 24 MIL SHARES OUTSTANDING. (YES O/S WAS 960 MIL)
SO A YEAR LATER WITH 400 MILLION OF DILUTION (AS REPORTED ELSEWHERE) SHARES NOW TRADE AT .0018.
AT 40-1 TODAY, WE GET BACK TO .08 IF WE CLOSE AT .002 ON THE DAY OF THE REVERSE..LOL
Go back and look at the dilution these scumbags did over the last 90 days knowing a r/s was in the works.
June 21st is ways away
All I can say is what i have posted.
Everything can be confirmed. Craig has been blasted by Phone calls. Yes he was screamed at by alot of folks and is completely caught off guard.
If you need to call him Please be cordial. Ask him if he talked to Robert for a long time. He will confirm everything.
We talked about Raising the Authorized instead of the R/S. There is a meeting about it tomorrow. Rev's are coming in.
Stay Tuned Folks.
Smitter SMTT
The reason it's normally bad in stinky pinky land, is because even though they are reducing the O/S, they didn't reduce the A/S. Because of that, the company can dilute again right back up to the A/S limit, just like they did a year ago. They can flood the market with millions of more shares, driving down the price, until they wind up right smack dab where they are today.
It's like printing money for the issuer. R/S, Dilute. R/S, Dilute. Each time, there are new hopeful investors replacing the old investors who got burned and bailed after the R/S and then eventual dilution caused their ORIGINAL share purchase price to become worth pennies on the dollar.
Good call on your behalf. What do you think it will open at tomorrow?
Not a chance. That is an official document residing on the State of FL's website. Nobody photoshop'd a graphic, nobody spooked the official website URL.
If you look right below the bar code, it's printed in the standard month/day/year format.
It you look at the filing stamp, printed vertically below that, it's in the year/month/day/time format.
You're reading it wrong. It was filed on 06/03/10
The 10 is the year, not the day
Well, let's hope they received a ton of orders from this show, because until they start actually selling their products instead of hyping them, this stock is going nowhere.
Do you guys think we will close green today?
Judging from what I'm seeing on my L2, it looks like the MM's will be taking this down to .0013 soon.
Now we need the buyers to step in and get this thing moving northward.
It's not new news. The Apple app has been in the pipeline for months. Look at the charts on MAR 22 when it was first announced...that's when you got the huge pop. Since then, it's just been a steady stream of info updates on it's progress. A hyped PR about the Apple app is just whacking a bit more dust out the the hanging carpet.
I've been through this before too.
We had 4 straight green days, 5 out the last 7...the stock basically doubled in price during that period, and we had many taking profits this morning on the confirmation of the PR.
However, the charts still look healthy. It wasn't a collapsing sell off...it was a classic, 50% sell off, and then it should resume it's climb.
If we supposedly have a PR coming out on WED, you'll see the price rise again prior to that release in anticipation of that news.
You're not seeing dilution. Your seeing profit taking. Since April, this stock has been a flippers dream come true. It's channeled sideways between .0010 and .0025. Huge profits have been made by many just playing that trading range.
What you're seeing is those that accumulated the previous weeks when it was at the low of that range, selling on the PR today at the high end. Wash, rinse and repeat.
The Apple app isn't new. It wasn't a surprise bomb, it's been known and anticipated for months. What WILL send this stock out of the trading range, is NEW positive news.
Yep...classic action. Bid it up on the rumor/anticipation of a PR...sell it on the fact/release of that PR. I've seen this hundreds and hundreds of times over my lifetime.
A lot of people flip this stock. They got in early last week around the .0010-.0011 price range, and took profits of around 100% this morning upon the PR confirmation.
I'm seeing a solid floor on my L2 at now at .0015, where we might build another base in anticipation of the next PR.
Sorry if some of you thought this was going to the moon today. Doesn't quite look like it.
PR just came out across the wires...
eFUEL EFN, Corp. is Pleased to Announce That the BackgroundChecker App is
Currently Available for Download at the Apple iTunes Store
TAMPA, Fla., Jun 7, 2010 (GlobeNewswire via COMTEX) -- eFUEL EFN, Corp. (Pink
Sheets:EFLN) is pleased to announce that the new BackgroundChecker app is
currently available for download at the Apple iTunes Store. The BackgroundChecker
app is designated for the Professional/Business and/or in-depth personal
Background Check marketplace. Management believes the BackgroundChecker app will
be a worthwhile addition to the iTunes Store. Management further believes that
the BackgroundChecker app will increase quarterly revenue.
About eFUEL EFN, Corp.:
eFUEL EFN, Corp., ("eFUEL'') is a publicly traded company listed on Pink Sheets
under the symbol EFLN. eFUEL is an internet services company offering a wide
variety of products including but not limited to background screening and
verification sites, including http://www.ValiMate.com, http://www.VeritasID.com,
and http://www.FastandEasyID.com, http://www.BackgroundAnswers.com and also
http://www.VerifiAmerica.com, on-line dating sites
http://www.outRAGEousEncounters.com and http://www.PositiveLove.com, and recently
launched a new service called Easy ID, the fastest, easiest ID verification
available on the internet. This product will be offered to all new members who
purchase any http://www.eFUELstore.com service. Simply enter a person's full name
and birthday and the background information will be provided. This service is
also available at the company's main site http://www.eFUELstore.com or
http://www.ValiMate.com. For additional Product information, go to our corporate
site at http://www.eFUELcorp.com
Safe Harbor Statement: Certain Statements in this press release constitute
``forward-looking statements'' within the meaning of the Private Securities
Litigation Reform Act of 1995. The forward-looking statements are subject to
risks and uncertainties including, without limitation, changes in levels of
competition, possible loss of customers, and the company's ability to attract and
retain key personnel.
This news release was distributed by GlobeNewswire, http://www.globenewswire.com
SOURCE: eFUEL EFN, Corp.
CONTACT:eFUEL EFN, Corp
Investor Relations:
Frank Pinizzotto
727-698-7492
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
That was my post over at the Hideout. I was just trying to spread the word. There were a few discussions in the Hideout chat room today, but I didn't see anything in the forums, so I tossed that in there.
More buzz can't hurt.
Afternoons have been quiet this week except for Wednesday. Most of the action has occurred in the morning and last 15 minutes of the day.
Also, don't forget, the overall market is getting hammered today because of a crap unemployment report. That can be holding back SP too.
our chart would have looked outstanding tonight if not for that stupid whack at the end of the day.
Thanks for the link. Interesting. They are current and transparent with the State of Fl., but MIA at the SEC. It's like they are running the company more like an LLC or Sub S than a public traded company.
Even if the Preferred were converted, that would only add 70 million shares.
Looking at the charts, you could be correct, probably more so as I think about it. The massive volume looks more like constant flipping between .001 and .0016. If there was dilution, the stock would have slowly moved downwards, not sideways. I was only focused on why it wasn't moving up, forgetting that it wasn't moving down.
This is looking good. If we break out of this trading range that is creating all this flipping and volume, with only 450 million shares, this thing could have a nice move up.
Again, thanks. Mucho appreciated.
GLTA
Dilution?
I'm trying to do a little DD on this company today, and I have some questions. The main one is, does anybody else think they are diluting this stock?
On April 1, the stock price was .0015. Since that date, there has been a huge increase in monthly volume.
APR - 316.72 million
MAY - 424.41 million
JUN - 107.42 million (through 3 days)
The 6 months prior to April, the monthly volume was averaging 40.63 million per month.
With that kind of volume, this stock should be much, much higher, yet here we sit today at the same price, despite 848 million shares traded.
I can't find ANY recent filings on this company over at the SEC (a D filing a year ago, and then nothing back to 2007). Over on the Pinks it's a non reporting company, it's just a hair above being a Caveat Emptor stock...so where does that 400 million OS share number I keep reading about in here come from?
I'm long as per a couple of days ago and have a couple of ticks profit so far, but this thing sure does smell of dilution going on...maybe one of the reasons it can't break above the .0017 mark?
Any thoughts?
Buy to Sell ratio was impressive too.
40.49 million bought
17.83 million sold
That's a damn healthy 2.27 to 1 ratio. It got knocked down on light volume at the end due to MM games, but the charts, volume and buy to sell ratio looks bullish.
There has been, however, considerable selling pressure.
Decent depth at the .0124 and .0125 on the Ask, and lots of depth on the Bid at .0117. With such low volume, you can expect to see that large of a spread.
There are two new MM's I haven't seen recently on the Bid though, LAFC (R.F. Lafferty, NY) and STXG (Stockcross Financials, NJ)
S-1 Filing today was AMENDMENT.
Here's the link to the actual SEC EDGAR database
http://www.sec.gov/Archives/edgar/data/1114605/000114420410025531/v183917_s1a.htm
This was strictly an amendment to the filing in January. There is NO dilution...but common sense should have told you that if you just reviewed the daily volume...you would have seen huge volume during the price decline if dilution was going on, but it's been very low volume walking this thing down.
Also, the price on the day of the January filing date was .0110, which is coincidentally right where it's trading today, so that may have thrown some peeps in here into a bit of a panic or confusion.
It's obvious to me, this is just more compliance with the SEC in the ongoing uplisting process. Somebody probably caught a small error or typo in the Jan filing. They really are doing their best to be completely transparent now.
>I think I will start selling Tee shirts that say
>"I trusted Tony Cataldo and now I'm into sub penny stocks
"
"I bought stock in a Tony Cataldo company...and all I got was this lousy T-Shirt"
Gap Covered today also...
From a TA point of view, the stock going down and covering that gap made back in Mar at the .0105 price is a huge monkey off of the back. Once those gaps get covered, it's a huge psychological relief, since you no longer have to worry about IF it will get covered.
If you look at the charts, we've been forming a bit of a bowl type basin on the closing price this week. Hopefully, this is the bottom forming now.
Then you throw in the PR release AFTER that gap was covered...an unbelievably uncanny bit of timing, or was it quite shrewd and smart?
Yea...but not an up day. That makes 12 trading days since an up day, and only one in the past 18 days. My charts still indicate a downward trend, and that gap at .0105 price is just screaming to get covered. I wish it would just take the damn thing out so we can find a floor.
We closed Wed 4/21 @ .0135. The close on 4/22 was .0135. That's not up...that's even. The same for 4/19...closed @ .0140 and then on 4/20 we closed @ .0140, again, not up, but even.
On some charting programs, they show even days as green, but we've only had one actual up day, on Apr. 15, out the last 17 trading days.
It hasn't changed my opinion at all. I'm still long term bullish on this stock, but if you're a short term trader, the trend is still channeling down, probably until we cover the gap made in March at .0105. Hopefully, we will find a floor and go into another accumulation period in May. I'm going to be loading up on a ton more of this stock once my charts tell me this sell off has stabilized.
GLTA
6 days?...there's been only ONE up day in the past 17 trading days, on Apr. 15. There were two days where we finished unchanged...but it's been all downhill since April 8.
In the charts, there is a gap at the .0105 price that occurred on Mar. 4. We are very close to covering that now, and when the price gets close to one of these gaps, 99% of the time, there is huge psychological pressure to move the price down, cover it, and get it out of the way.
It's been a brutal month, but covering that gap may finally present an opportunity to find a floor and begin an accumulation period.
It depends on the situation.
Some companies are true turn-around candidates. They have an actual revenue model and have positive income. They may reverse split the stock merely to get the share price up higher; maybe to meet the minimum price requirements for a NASDAQ listing, or get the price above $5 so mutual funds can buy the stock.
Usually for Penny Stocks, it's not good, as it allows for further dilution and price depreciation. Right now, Greenshift has been stuck trading between .0002 and .0003 for a few months. If they reverse split it, the new share price will be higher, with a lot of room to come right back down to the range it's in today, easily hammering your equity.
RS = Reverse Split.
The company will reverse split the stock, taking the float from billions of shares to millions of shares. The stock price rises. Your equity remains the same. However...most of these penny stocks then begin issuing new stock again to raise money for operating expenses since most have no revenues. This new dilution causes the stock price to drop again after the reverse split, and your equity gets hammered.
So let's say you put $100 into Greenshift today, buying half a million shares at .0002. Greenshift announces a 500 to 1 reverse split. You now own 1000 shares at .10 per share, which is still $100. However, you're more likely to see the stock move down from that .10 price than up, as the markets anticipate future dilutions of new stock to raise operating capital. Over time, your current $100 equity could be worth pennies.