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SNOFF - GOOD NEWS!!!! (I think) Good buying opportunity????
Analysts spring to Sino-Forest's defence
June 10, 2011 | 08:35
Reuters
News
Allegations of fraud against Sino-Forest have set off a battle royal between analysts who have long supported the Chinese forestry company and the short-seller whose recent accusations have pummeled its shares.
Sino-Forest denies the allegations by Hong Kong investor Carson Block, but its response has seemed mostly low key compared with the reaction of some analysts who have attacked Block and the tactics of his Muddy Waters one-man research firm.
At times it seems like the analysts -- many of whom had ''buy'' ratings on the stock -- are themselves on the defensive.
Perhaps the most vocal of the Muddy Waters critics has been Dundee Securities analyst Richard Kelertas, who has taken strenuous objection to Block's accusations. On a conference call earlier this week, the analyst slammed the short-seller's report as a ``pile of crap.''
``Muddy Waters has been using fraudulent means to find information through Chinese sources, to come up with an overblown fraudulent story, to benefit from shorting the stock,'' Kelertas said on the call.
Dundee is not the only brokerage to go to bat for Sino-Forest. RBC Capital Markets, Raymond James and others have pointed out discrepancies in the Muddy Waters research.
Even as the company itself has chosen to keep a low profile, perhaps on advice of legal counsel, the strong response from some analysts is not that puzzling, observers say.
``Everybody is going to look like complete idiots if the Muddy Waters report is correct,'' said Barry Schwartz a portfolio manager at Baskin Financial Services in Toronto.
``It's going to be a big egg on the face of many top brokerage firms in Canada, who have committed to giving Sino-Forest strong 'buys' for years and assisted with the company's financings.''
According to StarMine, Sino-Forest had 4 ``strong buy'' ratings, 5 ``buy'' ratings and 1 ``hold'' rating on it, before the Muddy Waters report was published a week ago. Most analysts still support Sino, but have put their ratings on the company under review.
Block, who claims Sino-Forest has fraudulently overstated the size of its forestry assets, declined to comment on the Kelertas statements.
Block typically takes short positions on the companies he writes about -- essentially bets that the share price will decline -- and then profits from the stock's subsequent swoon when his research is published.
The Dundee analyst slammed Muddy Waters for ``pre-shopping'' its smoking gun report to hedge funds weeks before going public with the allegations. He also panned rating agency Moody's, which has said it might lower its rating on the forest plantation operator.
``How can you come out because of a Muddy Waters research report and put a company under review after you did a review just a little while ago?'' he asked. ``What does that say of your own analysis and due diligence of the company?''
Even as he sought to debunk Block's report, Kelertas himself has put his own rating on Sino-Forest shares under review.
COMPANY RESPONSE RESTRAINED
Oddly, while analysts have come out strongly in defense of the company, its own executives have remained for the most part invisible and silent. Even as shares of the beleaguered Toronto-listed company continue to see-saw the company appears to have done little to reassure markets.
Its only response last week, while its shares were tanking, was a weak protest that did little to quell investor panic.
A stronger statement on Monday restored some confidence, but the shares have bounced up and down since then. Sino's management team has remained largely in the shadows and appears reluctant to go on the offensive.
``I would have thought that the company would be much more aggressive in defending themselves,'' said Schwartz.
VOTE OF CONFIDENCE
The company got another vote of confidence on Thursday from Standard & Poor's. The rating agency said it believes it is too early to assess the implications of the recent accounting and fraud allegations against Sino until verification by independent parties is available.
The rating agency said that, for now, the company's liquidity is adequate and it does not foresee any short-term refinancing risks.
While more clarity and details may emerge when Sino-Forest reports quarterly results on June 14, Credit Suisse analyst Andrew Kuske wrote in a research note that Sino's shares likely face a long road to redemption.
Even if the company does manage to address all of the allegations against it, following a review by a three member committee of independent directors, its shares -- which are down about 80 percent from their 52-week high -- are unlikely to fully recover, at least one analyst thinks.
I think SNOFF will come back...not many company's that are frauds will try so adamantly to prove/re-iterate their innocence!!!!
I would be yell'n and screamin' too if I was accused of falsifying financial statements and other fraud....
June 8, 2011 12:36 PM EDT
TORONTO, June 8, 2011 /PRNewswire/ - Sino-Forest Corporation (TSX: TRE) ("Sino-Forest" or the "Company"), a leading commercial forest plantation operator in China, today confirmed that the Ontario Securities Commission ("OSC") has opened an investigation.? The Company expected the OSC to take this step given its responsibility as the public regulator and the recent unusual trading activity and volatility in Sino-Forest's stock price and the allegations contained in Muddy Waters' report. The Company welcomes the OSC initiative and believes that the issues the OSC will seek to address will be consistent with the investigation commenced by an Independent Committee of the Board of Directors.
The Company has also formally requested that the Toronto Stock Exchange and the Investment Industry Regulatory Organization of Canada investigate the trading of the Company's shares by Muddy Waters, LLC and its principal Carson Block and anyone associated with these persons in advance of the issuance of the Muddy Waters' report.
The Company also intends to request an investigation by the Singapore Exchange Ltd in respect to the trading of the Company's bonds.
Thank you for the info....no one ever said "cheerleaders" were brilliant.... hehehhehehe
Seriously, I don't know...I thought it was good news....
SNOFF - Sorry - what does this mean?...The class action has been brought on behalf of Sino-Forest (SNOFF:$4.9500,$0.8000,19.28%) shareholders who purchased shares of Sino-Forest (SNOFF:$4.9500,$0.8000,19.28%) on the TSX on or after May 17, 2004 and on behalf of those who purchased shares directly through the company's 2009 prospectus offering.
SNOFF - Fighting Back!!!! Rochon Genova LLP Announces Class Action Against Sino-Forest Corporation, Auditors, Underwriters 06/08 02:31 PM
Investors seek billions in compensation, citing misrepresentations
in relation to company's assets and revenue
TORONTO, June 8, 2011 /CNW/ - Rochon Genova LLP has commenced a class action on behalf of shareholders of Sino-Forest Corporation (SNOFF:$5.0000,$0.8500,20.48%) ("Sino-Forest") alleging securities law violations by the company, certain of its officers and directors, its auditors, and underwriters.
Sino-Forest (SNOFF:$5.0000,$0.8500,20.48%) operates as a forestry plantation company in the People's Republic of China. The company acquires, cultivates, and sells standing timber or harvested logs from its purchased, integrated, and planted plantations, and sources and sells logs, veneer, sawn timber, and other wood-based products.
The class action has been brought on behalf of Sino-Forest (SNOFF:$5.0000,$0.8500,20.48%) shareholders who purchased shares of Sino-Forest (SNOFF:$5.0000,$0.8500,20.48%) on the TSX on or after May 17, 2004 and on behalf of those who purchased shares directly through the company's 2009 prospectus offering. It alleges misrepresentations in Sino-Forest's (SNOFF:$5.0000,$0.8500,20.48%) filings, including the 2009 prospectus offering, press releases and public statements that, among other things, greatly exaggerated the company's assets and revenues. The allegations are not yet proven. As of market close on June 7, 2011, shares of Sino-Forest (SNOFF:$5.0000,$0.8500,20.48%) had dropped over 75% since June 2, 2011 resulting in a market loss of almost $3.5 Billion. This precipitous decline in the company's value followed the release of a report, and supporting documentation, by Muddy Waters, LLC, a Hong Kong-based research and investment firm, which revealed detailed evidence of systemic and comprehensive fraud and illegal activity by Sino-Forest (SNOFF:$5.0000,$0.8500,20.48%) .
Muddy Waters alleges that the company exaggerated its assets by overstating its timber purchases, including one purchase from the Yunnan region in China that was inflated by over $800 million. It further states that Sino-Forest (SNOFF:$5.0000,$0.8500,20.48%) inflated its revenues through the use of undisclosed "authorized intermediaries" to fabricate sales transactions for which there is no supporting documentation. The intermediaries were allegedly employed to create an accounting event for Sino-Forest (SNOFF:$5.0000,$0.8500,20.48%) even though it risked no capital and moved no physical goods.
Rochon Genova LLP is one of Canada's leading class action firms dedicated to protecting the interests of individual and institutional investors.
SNOFF - It's Official...they were SET UP!!!!! GREAT BUYING OPPORTUNITY RIGHT NOW!!!!
Muddy Waters Pre-Marketed Sino-Forest Report to Hedge Funds: report 06/07 02:30 PM
03:30 PM Eastern Daylight Time, 06/07/2011 (MidnightTrader) -- Muddy Waters Research, the firm founded by short seller Carson Block, pre-marketed its report on Sino-Forest Corp. (SNOFF:$4.2000,$-1.8500,-30.58%) to hedge funds for the past five weeks, Richard Kelertas, an analyst at Dundee Securities Ltd., said today in a conference call, Bloomberg reported.
I have been researching that form 3 "Scammer" filing as well. I'm not sure what it means but I'm trying to find out...does anyone know???
Maybe it's "my bad" - however, I thought there was someone on this board (a week or two ago) who claimed to have "contact" with FBCD management and was quoting telephone text messages and posting "management" e-mail responses.
Again, I could ABSOLUTELY be wrong, but I just thought I remembered someone who claimed to have the inside scoop on this company...or at least some type of communication with inside management....
**DISCLAIMER*** MY MEMORY MAY BE FAILING AND THIS MIGHT NOT BE THE SAME BOARD!!! I just thought I remembered......
Damn, maybe I'm just gettin' old... :(
Call, call, call, call - maybe THEN they will send out PR explaining themselves!!!! THEN, OBVIOUSLY - post your results here!!!! Please and Thank you!!!
FBCD - isn't there an "insider" with "connections" on this board???? Is he gone? Why hasn't he posted recently? Wasn't he BFF's with "Chris"???? Where is he and why isn't he keeping us posted????
FBCD - I called IR yesterday and left a message. You can bet your A$$ that I am going to call back today! I will post ANYTHING and EVERYTHING possible here to this blog as soon as I have ANYTHING or EVERYTHING to post!!!!
SNOFF - "Snapshot" - N AMERICAN MORNING BRIEFING: Stocks Set For Modest Rebound 06/07 05:33 AM
....Stocks to watch.....
- Sino-Forest (SNOFF:$6.0500,$0.0000,0.00%) stepped up its defense of its accounting in volatile trading following the release of a scathing report on the company last week
(taken from Fidelity Active Trader-Pro newswire)
SNOFF - Sino-Forest independent committee appoints PwC 06/07 05:34 AM
June 7 (Reuters) - Canada'sSino-Forest Corp (SNOFF:$6.0500,$0.0000,0.00%) said late on Monday that an independent committee set up to review fraud allegations raised by Muddy Waters, appointed accounting firm PricewaterhouseCoopers to assist with the investigations.
Sino-Forest (SNOFF:$6.0500,$0.0000,0.00%) , which operates plantations in over 10 provinces in China, accused short-seller Muddy Waters of defamation. A Muddy Waters report alleged that Sino-Forest (SNOFF:$6.0500,$0.0000,0.00%) had exaggerated its Chinese forestry assets.
Shares of the Toronto-based company closed at C$6.10 on Monday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore)
SNOFF - I'm SORRY Soapy Bubbles, however, Muddy Waters can K-M-A!!!!!! The stockholders have been STUNG by an unworthy short stocking POS that dropped the stock value UNFATHOMABLY!!!! SNOFF...SNUFF Muddy Waters!!!!! Oh, and, please regain your value!!!! OK, with THAT SAID....NOW is the TIME TO GET IN...as it should go back (for the most part) to the value it had before the fraudulent report!!!!
SNOFF - SINO-FOREST INDEPENDENT COMMITTEE APPOINTS PRICEWATERHOUSECOOPERS 06/06 10:29 PM
TORONTO, June 6, 2011 /CNW/ - Sino-Forest Corporation (SNOFF:$6.0500,$0.0000,0.00%) ("Sino-Forest" or the "Company"), a leading commercial forest plantation operator in China, today announced that the Independent Committee, which has been set up to examine and review the allegations contained in Muddy Waters' report, has appointed PricewaterhouseCoopers ("PwC") as the independent international accounting firm to assist with the investigations. PwC is highly familiar with the forestry industry and the business environment in China. PwC has extensive resources in North America and China, and will commence its work immediately.
About Sino-Forest Corporation (SNOFF:$6.0500,$0.0000,0.00%)
Sino-Forest Corporation (SNOFF:$6.0500,$0.0000,0.00%) is a leading commercial forest plantation operator in China. Its principal businesses include the ownership and management of tree plantations, the sale of standing timber and wood logs, and the complementary manufacturing of downstream engineered-wood products. Sino-Forest (SNOFF:$6.0500,$0.0000,0.00%) also holds a majority interest in Greenheart Group Limited, a Hong Kong-listed investment holding company (HKSE: 00094) with operations based in Suriname, South America and New Zealand, which is involved in responsible and sustainable log harvesting, lumber processing and sales and marketing of logs and lumber products to China and other countries around the world. Sino-Forest's (SNOFF:$6.0500,$0.0000,0.00%) common shares have been listed on the Toronto Stock Exchange under the symbol TRE since 1995. Learn more at www.sinoforest.com.
Honestly, I think it was the market, in general. Just about every stock I have on ALL the watchlists I monitor ended red today - Including CEYY, FBCD, BCCI, KIWB. That's my opinion but I encourage you, also, to step back and take a look at what the whole market did today...just crap!!!
SNOFF - Sino-Forest Corp Set To Close Around 20% Higher as Pushes Back Against Claims 06/06 02:54 PM
03:54 PM Eastern Daylight Time, 06/06/2011 (MidnightTrader) -- Sino-Forest Corp. (SNOFF:$6.3500,$0.9400,17.38%) is pulling out all the stops to prove that the nefarious allegations levelled against the company have no merit, the Globe and Mail reported. TRE looks set to close around $1 or 20% higher at $6.20, but well off a day high $8.53 with around 23 million shares traded. It has fallen close to 70% between Friday and early this morning.
On Monday the company opened an online 'data room' in which everything from bank statements to land purchase agreements are posted, the newspaper said. The documents have been made publicly available to push back against a bruising report released by Muddy Waters Research, which subsequently sent the stock into a freefall on Thursday and Friday, it added.
Price: 6.24, Change: +1.01, Percent Change: +19.3
Canadian market falters on the back of energy 06/06 02:46 PM
SAN FRANCISCO (MarketWatch) -- Canadian stocks declined Monday, led by losses in the energy sector as crude-oil prices fell below $100 a barrel.
Breaking the trend of the Canadian market was Sino-Forest Corp. (SNOFF:$6.4570,$1.0470,19.35%) , which saw its shares climb 37%, after the company stepped up its defense of its accounting. The operator of tree plantations in China responded to Thursday's allegations from Muddy Waters LLC of fraudulently exaggerating its assets. The stock plummeted 71% in the two sessions after the report, but Sino-Forest (SNOFF:$6.4570,$1.0470,19.35%) released documents to back up its forest holdings and promised to appoint an independent accounting firm on Monday.
SNOFF - LOD 5.95 - Looks like it's heading back up....
CEYY - Nothing since I spoke with Barry last week. If there is no news tomorrow or Wednesday then I will call him back again! PATIENCE SUCKS!
SNOFF - New news regarding additional transparency.....
Sino-Forest Drifting Lower From Early Gains as Volume Dissipates 06/06 01:21 PM
02:21 PM Eastern Daylight Time, 06/06/2011 (MidnightTrader) -- Sino-Forest Corp (SNOFF:$7.1997,$1.7897,33.08%) is drifting lower following its big advance earlier today, with shares setting an apparent floor above $7.00 a share as volume dries up this afternoon.
Shares raced higher soon after the bell this morning, topping out at $8.53 each, when the embattled tree-farm company for the first time threatened legal action against a U.S.-based short-seller, accusing him of defamation after he published a research report last week accusing Sino-Forest (SNOFF:$7.1997,$1.7897,33.08%) of grossly exaggerating its forestry assets.
The company also said it will soon detail all of its holdings, adding it plans to invite analysts to tour its properties next month.
Price: 7.12, Change: +1.89, Percent Change: +36
SNOFF - Sino-Forest Corp (SNOFF:$8.1500,$2.7400,50.65%) , which accused a short seller of defamation for alleging it fraudulently exaggerated its Chinese forestry assets, rebounded from its more than 60 percent dive last week, to jump more than 54 percent on Monday to C$8.09.
SNOFF - Sino-Forest Issues Second Rebuttal Of Muddy Waters Report 06/06 09:15 AM
TORONTO--Sino-Forest Corp. (SNOFF:$8.1800,$2.7700,51.20%) stepped up its defense of its accounting Monday, releasing documents to back up its forest holdings and promising to appoint an independent accounting firm.
The move was the company's second attempt to rebut accusations by Muddy Waters Research that allege, among other things, that Sino-Forest (SNOFF:$8.1800,$2.7700,51.20%) has grossly, and fraudulently, exaggerated its plantation assets. The allegations were contained in a report issued Thursday by Muddy Waters, a U.S.-based firm that conducts research on Chinese companies and and engages in short selling of the subjects of its reports. Short sellers profit when a stock declines in value.
In a release Monday, Sino-Forest (SNOFF:$8.1800,$2.7700,51.20%) said it believes the Muddy Waters report to be "inaccurate, spurious and defamatory." It said Muddy Waters' goal was clear: to make money from the fall in Sino-Forest's (SNOFF:$8.1800,$2.7700,51.20%) share price that the report precipitated.
Sino-Forest's (SNOFF:$8.1800,$2.7700,51.20%) stock plummetted 71% to C$5.23 in the two sessions after the release of the Muddy Waters report. The stock is recovering much of those losses Monday, up 55% to C$8.12 on 7.3 million shares.
Sino-Forest's (SNOFF:$8.1800,$2.7700,51.20%) shareholders include heavy hitters like Paulson & Co., the New York hedge fund that made billions betting against the U.S. subprime mortgage market. Paulson & Co. owned nearly 35 million Sino-Forest (SNOFF:$8.1800,$2.7700,51.20%) shares as of April 29, according to regulatory filings. That represents 14% of the company's shares outstanding and makes the fund Sino-Forest's (SNOFF:$8.1800,$2.7700,51.20%) largest shareholder.
In its release Monday, Sino-Forest (SNOFF:$8.1800,$2.7700,51.20%) said it's "sympathetic" to shareholders who are uging the company to respond forcefully and quickly. The company, which has already created a special committee of independent board members to investigate the allegations, also said the committee will appoint an independent accounting firm later Monday. The committee has already retained law firms in Toronto and China.
Muddy Waters wasn't immediately available for comment.
-By Stuart Weinberg; Dow Jones Newswires; 416-306-2026;
SNOFF - Yup - up >50% with some interesting news...I'm GREEN right now and would love to see where this ends up!!!!~
SNOFF - Major potential for HUGE bounce/profits!!!!
GTSO - GTSO: U.S. Geological Survey Warns Congress That Rare Earth Demand Increasing 8% Annually
Rising Demand and Dwindling Chinese Exports Threaten U.S.’s Rare Earth Supplies 06/06 08:00 AM
SAN JOSE, Calif.--(BUSINESS WIRE)-- As Green Technology Solutions, Inc. (GTSO:$2.1800,$0.0000,0.00%) works to secure new sources of rare earth elements in Mongolia, Kenya, Botswana and elsewhere, demand for the critical elements continues to rise worldwide.
Bloomberg reported Friday that the U.S. Geological Survey told Congress’ House Natural Resources Committee that global demand for rare earths will increase at a rate of eight percent annually as production of green energy projects, tablet computers, smartphones and hybrid vehicles expands around the world. Domestic manufacturers concerned by potential supply shortages urged Congress last week to help reduce the U.S.’s dependence on China for its rare earth supplies. The Communist superpower, which produces more than 95 percent of the world’s rare earth supplies, alarmed many manufacturers around the globe by announcing last July that it would cut its export quotas by more than 70 percent despite growing global demand. In the months since, mineral prices have skyrocketed.
Fears of potential supply shortages spurred by China’s new policies and ever-increasing demand for the rare elements have made rare earth resources a legislative issue. Congress is currently considering two bills requiring the Interior Department to report regularly on U.S. critical mineral resources. In a report last year, the Energy Department declared U.S. supplies “at risk.”
Access to rare earths is crucial to keeping the U.S. and its allies globally competitive and militarily secure. That is why Green Technology Solutions (GTSO:$2.1800,$0.0000,0.00%) is working to help eliminate the risk of supply shortages. The company has signed agreements to develop new rare earth mines in Mongolia, the Republic of Congo, Botswana, Kenya and other friendly emerging nations. Currently, GTSO is working to finalize a profit agreement with Ar Erkhes, LLC, in preparation for its first shipment of rare earth ore from Mongolia to South Korea, a close military and economic ally of the U.S. By developing new sources of rare earths outside of China, GTSO plans to help eliminate a strategic vulnerability for the U.S. and its top manufacturers.
For more information on the GTSO’s mineral export strategy, please visit http://www.rareearthexporters.com.
Green Technology Solutions (GTSO:$2.1800,$0.0000,0.00%) commercializes clean and renewable mining technology and products in a sector that includes General Dynamics Corp. (GD:$70.6000,$0.0000,0.00%) , MV Rare Earth/Strategic Metals (SMDZF:$3.1394,$0.0000,0.00%) , Honda Motor Co., Ltd. (HMC:$37.5100,$0.0000,0.00%) and 3M Co. (MMM:$90.7000,$0.0000,0.00%) .
About Green Technology Solutions, Inc. (GTSO:$2.1800,$0.0000,0.00%)
The next generation of green technology — electric car batteries, wind turbine generators, photovoltaic solar panels — is made possible by precious elements mined from the earth’s crust, and the world’s dependence on these substances is rising fast. Today, these rare elements largely come from some of the most environmentally damaging mines in the world. Green Technology Solutions, Inc. (GTSO:$2.1800,$0.0000,0.00%) offers clean mining solutions to the acquisition of rare earths, gold and other materials used in the latest green-tech innovations. Our cutting-edge clean mining techniques and strategies are generating business leads from around the globe as governments and corporations seek to lessen the environmental impacts of ore mining. GTSO is positioned to capitalize on exciting and potentially lucrative opportunities to develop cleaner mines in emerging nations around the world, including Mongolia, the Republic of Congo and many more. Our company is focused on aggressively growing and diversifying our business in order to produce green mining solutions for our clients on a global scale.
Green Technology Solutions, Inc. (GTSO:$2.1800,$0.0000,0.00%) is an OTCQB publicly traded company. OTCQB is the middle tier of the OTC market. OTCQB companies report to the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations. GTSO acquires, develops and implements the newest clean mining technology to enable our partner clients to expand operations throughout the world. Environmental restrictions represent the largest restriction to mining industry growth and operations. GTSO focuses on overcoming these environmental restrictions with brilliant cutting-edge clean mining technology.
For more information, please visit http://www.GreenTech-Solutions.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
ECTY - NNEEWWSSSS OUT!!!! Stock could jump a bit on the "SEARS" news out!!!!
ceyy - Honestly, I think once things get straightened out with their financials this company will soar. Just look at what happened with both of the PR's on Aetna and BCBS! People are just getting scared because of the wait for everything....without my own DD - I would be scared, too!
CLNO - My "motifs" are to protect "newbie" investors from losing the livin' S**T out of an investment made with emotion and attached to "raw, straight out PUMPING!" I have been there and done that. If the "newbies" don't know how this thing works and the amount of DD required to make an educated decision - I would, at least, like to forewarn them of the "game" that they are getting in!!! Which begs the question...how many shares to you own..if could be considered a conflict of interest if you owned a bunch and are pumping it on this board.... are my posts public enough now???
Investors....please this stock - just know your DD and what is going on behind all of it....Good Luck to all!!!!
CEYY - For ALL those SKEPTICAL (and not doing their own DD) please feel free to conduct you own Due Diligence and contact Fresh Start Investor Relations @ (480)414-1897 - you will either speak with Bill or Barry - if a gal answers to take a message...LEAVE A MESSAGE...IT WILL BE RETURNED - MINE WAS! They can address your concerns. PLEASE make sure you have your questions already prepared - as they are very, very busy with the merger, PR and TONS on concerns of investors!
Also, when I spoke to Barry (and I'm NOT SHI**n', he addressed me as Donna when he PICKED UP THE PHONE!!!) he was extremely busy and said the # of phone calls was insane, however, he spoke to me for several minutes and answered all my questions! I even told him that I have a BS in Accounting, from LONG ago, and that I knew about the accounting portion, BUT, I didn't understand the merger!!! He explained everything...and I posted that earlier to this board.
DISCLAIMER****I am an investor...I own a butt-load of shares ALL AT A SUBSTANTIAL LOSS...I could cut my losses and run, however, with my communication and research and DD on this company - I truly, honest to God, believe that this will fly ***even if only enough for me to recoup my money*** but I do believe it will fly much further than that!!!! I am not pumping...I fully beleive I am being as transparent as humanly possible. BTW...a little profit from my investment would be nice, too.....
FBCD & CHARTS - for the most part - nothing is important in Penny-land, except volume and news. So (daily chart) Tech Analysis is pretty much a moot point - other than volume and news (OK, maybe level 2 - but that's not charting).
With that said - FBCD - IMVHO - is the "special" one - the one that really shows the potential for growth. I have done extensive DD, but DD is evolutionary, aka, you can never do enough!
DISCLAIMER: I own a TON of shares (at a loss) - I will not take this loss and lick my wound's because I (honestly) truly feel that this stock really has merit and potential. No pumping...just cheer-leading....(at the minimum until I get back into the green.)
FBCD - FANTASTIC DAY...maybe some folks know what the future holds.
BTW...WTF with the chart analysis???? This is pennystock land...charts really don't count much...at least not for extreme analysis purposes...don't get me wrong 'cuz I luv me some intricate stock analysis....but, SERIOUSLY?!?!?!
KNKT - I am sorry that you have invested so heavily in KNKT - I took a loss when it jumped to 1.10 the "last" time. I still lost money, but not near as much as those who chose to hold on. Yes, I know your story...I lived it and I'm sorry. My DD along with phone calls to the company tell me that they have nothing left to play...they bluffed and got called on the bluff...and lost. Again, I am sorry for your loss.
Please perform more DD including phone calls to KNKT investor relations before scrutinizing our posts. I have done mine!
FBCD - Obviously, the insiders know more than we do...hence, the HUGE buys right at close!!!!!
FBCD - shakerzzz - are you kiddin' me???? No, the damn chart doesn't look better....In fact - IT SUCKS....what are you intentions here??? We haven't even broken through the OPEN!?!?!?!? What is up with you and this crazy comment????
VVUS - I know...it SUCKS!!! I own a few share myself and was just @1% profit when the shi**y news on OREX came out!!! Obviously, I am not longer "green" - HOWEVER - I truly believe that the drop today was because of OREX crappy news - NOT VVUS!!!! Ironically, I only own 100 shares, but it was GREEN in my portfolio until today... :(
I do, however, think it will rebound quickly - although - this stock is obviously on that you want to hold long on...no "QUICK" profits on this one...slow and steady wins the race!!!!!
KNKT - No, captain puff not in Canada & not in the United States -(or Corporate US/SEC/BCSC) are you "innocent until proven guilty!" NOT IN CASES LIKE THIS!!!!
The way these things work is - the GOVERNMENT has the upper hand and KNKT must provide the evidence to the contrary.
As a retired Gov tax auditor - I can honesty tell you - those are the rules, actually the law. However, if WE are wrong just show us the documentation and we will ABSOLUTELY REVERSE everything. All we need is DOCUMENTATION!
We are friendly, we only need the documentation to back up the claims and **FREEDOM** ... so the question now is, "Why isn't KNKT (or BRUK) providing the simple documentation that the BCSC is asking for??????
CEYY - I CALLED!!! Yes, today, just right now got off the phone with Barry! I SPOKE WITH BARRY - A REAL PERSON!!! Ironically, I've called so many times, he answered the call with "Hi, Donna." Seriously, no BS, he said "Hi, Donna!!!!"
I addressed the problem with the stock and the PR and WHAT THE HELL WAS GOING ON!!!!
This is a paraphrase:
At this point, there are still two distinct companies - FSP - Public & FSP - Private. Due to SEC regulations, FSP Public must file with the SEC even though the private does not. To consolidate the F/S of both companies the data must be audited. The audit of both companies is now finished and they in the process of consolidating the data from both companies.
Hence, (per Barry) the "official" consolidation will take place/be filed within the next day or two. AND additional PR will follow!!!
I am not promising ANYTHING *** This is just a note about my phone call with Barry @ CEYY.
KNKT - Mark Bruk hasn't "technically" purgered himself....AND, considering that doing so would change his life dramatically forever, I don't think he will. Hence, the invisible standoff and "let it ride" situation with the BCSC.
Don't you think that he would do everything possible - including kicking and SCREAMING - to vindicate himself and his company if he felt unjustly targeted for this BCSC investigation.
I don't know about you, however, I sure as hell would.