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Wrong, auditors do not prepared financial statements; they audit them, so the PR is factually incorrect on that single point. It would be a total conflict of interest to do otherwise. Anyone who knows anything about public companies should know this to be true. Additionally, even if it was true that someone has loaned them millions, it would be debt, not equity, so no legitimate auditor would give them a purely speculative asset value of $300 thousand, let alone $300 million.
True, I guess my theory was totally absurd, which means I just "Herzoged" you and Arbpro. lol
No, you guys have it all wrong and I've done my due diligence. The broker/dealer is NOT currently a publicly-traded company and they’re going to use BGMO to GO public.
Accumulation I think......
Boss is exactly right. Non-reporting pinks are a crapshoot, nothing more and nothing less. However, when there's years of PR history, where not a single "forward looking" statement has been true, it would be wise to "trust, but verify" concerning the purchase of BGMO. We are hearing that something huge is coming next week or before July 4th, so why is there little or no buying this stock. There should be insiders all over it, but nothing. Don't you think that is a bid odd?
I agree.
The EPA works like this....
The registration process involves the applying company submitting data supplied by independent and accredited testing agencies that supports the efficacy of the chemical applications the applying company wishes to register. In the case of copper sulfate, there are many applications already approved, for example use in preserving potable water, the approved EPA rate is 1.3 ppm. This information is readily known and accepted by the EPA, so no additional efficacy testing is necessary. However, when you apply to use the product for an application for which no efficacy data is available, it slows down the process considerably. The applying company must have all this data available for general review before the actual registration process to gauge whether or not ALL uses applied for should be accepted by the agency. Once the company knows there are no objections for most or all of the applications the first phase of field efficacy testing can begin.
Every one of the medium to large companies in the targeted industries is going want to run their own efficacy test to see how it works in their particular process. For individual companies this is not a lengthy process, but if the product is treating something that is going to be consumed by humans, lots of cautioned will be used.
Food safety is one of biggest issues today in this country and across the world and this product has shown great promise in controlling most, if not ALL of the dangerous pathogens that lurk in the microbial world. The meat industry is one that will be begging for solutions very soon (see link below).
http://vitals.msnbc.msn.com/_news/2012/05/30/11941175-testing-for-new-e-coli-strains-in-beef-finally-to-begin?lite
Hmmm, Arbpro and I must be listening to the same people, because he's pretty much confirmed what I've heard.
Addressing your share price issue, it may not move until steady revenues begin to accumulate from the Alabama operation, which I believe will start in the 3rd quarter this year.
There are two composting companies of any size in Alabama, one in the North and GEC in the south. According statistics from the company's latest document posted to their website, the market size exceeds 3 million acres. Everyone of those acres needs soil amendments made by GEC. However, it takes time to not only expose your products to a naturally skeptiical group (farmers), then they'll want to try it on a small section of their farms. If the products work, and this ALL you should be concerned about, given the size of the market, the one Castleberry location will not come close to suppling the demand for their organic product. IMO, the state could support 5 or 6 more Castleberry-type right now.
My advice to you, and I'm sure you'll take it, is to buy what you can comfortably afford, sit back and hang on every one of Arbpro's words.
And you are exactly right, but FINRA has never stopped BGMO from making outlandish claims in the past. If this B/D acquisition announcement is made, look for it to be with some off-shore entity, like that mythical Brazilian bank that is funding one of their many bank note guarantees. It will be a business where there is no real regulatory body like FINRA and no auditing requirements. JMHO
Both MM's you mention are "wholesalers", meaning they do not "make market" in any pink sheet company. The bid/ask offers you see are made by individuals who own or want to own the stock. For example; the current bid is .036, if you were to right now, put in a bid through your broker to buy (bid)4999 shares at .037, the bid would not move. If your bid was .037 for 5000 shares, the bid would move to .037. Broker/dealers have nothing to with the pricing, it's all individuals. Try it and you'll see.
Then how do you explain that so far in May the average daily volume is 51,110 less than April, 84,209 less than March, only 10,456 more than February and 52,713 less than January. And that 83.3 % of shares sold were sold at the bid.
Absolutely if identical and a few seconds apart.
IMO, the real telling sign nothing real is going to happen is the complete lack of the appearance of insider buying. They reportedly are buying a broker-dealer with 200 employees and foreign offices. Those foreigners would and should be loading up big-time right now. Insider buying ahead of good news is not near the sin that selling ahead of bad news is, plus it’s no sin at all in a foreign country. I’m certain that someone will shoot back at me with “they’re just waiting for the announcement”, but there’s no way that is true. People are basically opportunistic and greedy….there should be heavy buying at the “ask” if there was shred of truth to this acquisition.
I can't imagine there is any foreign investor buying this stock at the moment. Market Makers can see who wants and who's selling shares, but the buyer doesn't want to purchase on the open market, which would drive the price up. So the buyer's MM calls the seller's MM and makes a deal to buy a large quantity after the bell at a slight discount to the Ask. Note that these transactions are always for large quantities and never at the bid.
Correction...
I think you meant which one of the Bottom 4 is doing the audit....IMO of course.
For the individual as well as the institutional investor, Form T trading does present a few important advantages. If the investor happens to find out something that may have an effect on the price of a stock after hours, they have the convenience of acting on that information immediately. Otherwise, it would be necessary to wait until the markets open again, by which time the information will have reached many more investors, making it harder to profit from the situation. Form T trading also makes buying and selling U.S. stocks more convenient for foreign investors who operate outside the usual hours of trading in the U.S.
Oh...ball not dropped. When you file for an EPA registration, the material required will include a detailed description of each application for which you intend use the product. Efficacy tests conducted by non-related entities must also be included in the package. Most copper-based products might have two or three applications, but I'm told this one had 12 or possibly more, with some of those applications having not been seen before by the EPA. Having said that, I think it has taken longer than it should have, but GEC has zero control over the process, other then as a check-writer. The bottom line is that getting through any government agency is a lengthy experience and not for the impatient.
Which one of you guys said something significant was happening on the 19th?
Here's the link to the bank
http://www.primebanco.com.br/index.asp
Here message I sent them:
Essa banco costumava ser SPG Banco ou se fundir ou comprá-los? Você parece compartilhar o mesmo endereço com eles. Eu gostaria de saber porque estava envolvido com uma empresa que estava tentando fazer alguma operação bancária com o Banco GS
English version:
Did this bank used to be GSP Banco or did merge or purchase them? You seem to share the same address with them. I would like to know because was involved with a company that was attempting to do some banking with GSP Banco.
They have not yet responded.
Where do you find the tally?
I just went on Facebook to audit the Bergamo "likes" and can someone explain to me why almost all of the "likes" are posted by Bergamo themselves. It's okay to like yourself, but doesn't that kind of slant the results?
Hope springs eternal....lol
So let me see if I have this right…..
Someone you know is writing a factual history of this company from their prospective and the prospective of others who have worked for the company, correct? You further state “I have so much to release and it may start soon”, correct? My question is do you think this alleged information will cause damage to the company by besmirching the reputations of its current management? It would seem to me that it would, so my question is why would you want to diminish the chances of the company being successful? Is this a personal vendetta, or a calling from a higher power? I have gone back and read a good many of your posts and it’s difficult understand where you’re coming from…one day you’re high as anyone can be and the next day you think the company is fraud and all management are crooks. Which is it? I can understand that you may have a different opinion with how the company operates, which obviously your right, but to threaten to negatively impact the value of all the shareholders holdings….I want to know who gave you this right?
Ref/Majo/et al....
I'm sure everyone has read the company's annual reports, which states that the CEO is paid zero cash, and therefore, in order to live, must sell shares in some quantity to support living requirements. Now I know that all of you would be willing to take on the responsibility and liability of a public company CEO and not be paid...right? I don't think so, but you sure can piss and moan about someone you don't know and have never walked in his shoes. However, I have a solution, get a group of shareholders, maybe 8 or 10 of you objectors, and contribute to a fund to pay the CEO a modest sum, let's say $5,000 to $6,000 a month, this way he won't have sell is stock. Now this won't impact the share price even fraction, but all you will feel better about the CEO...right?
Regarding the 4 million shares just registered, please go to the SEC and read Rule 144. If a control person (Officer or 10% owner) wishes to sell stock on the open market, they must first register the shares with a broker/dealer. The amount the seller can register per quarter must not exceed 1% of company's Issued and Outstanding shares. If these shares are not sold during that quarter, they then become restricted again and must be re-registered. Additionally, the CEO cannot trade online, so every share must move through the broker, meaning the process is somewhat cumbersome and can be expensive when you’re trading a one cent stock. Also consider that the company trading volume for the first quarter of this year was 22,222,059 and the average sales price was $.0011. At this price it would be difficult to sell an allotment of 4 million shares and I doubt this happened. But what about the other 18 or 20 million shares that sold, which one of you was blasting away at the bid and selling those shares. Probably none of you, but the person(s) doing it leads to conspiracy theory revolving around benefiting from low share prices and I guarantee you it’s not anyone in management.
Where did this come from? I checked Facebook and it was not there, plus it looks like all their latest posts have been taken down. BTW I thought starting Facebook was a good strategy for releasing PR, because it's free and the company appears to have no cash, plus there's no regulatory oversight, so they and others can post whatever they want with impunity, good job HH. Also, who are the auditors and when do they start? Has someone called them to verify this?
Agree, also, IMO this stock has been a short sellers and daytraders dream. Lots of volume and share price movement, plus lot's of good news and some bad. I disagee with you on not getting to a dollar again, but not happening today, unless the squeeze is on. Also, washing is illegal and with all the attention on this stock by regulatory people, this strategy would be dangerous.
Short Sell report
Apr 13, 2012 - 2,924,880
Ref, as I recall when you first made contact with a salesperson for the company, you posted that person's cell phone number on the board. I also recall that you were simply trying to gain information on sales so you could post it on the IHUB. So, I don't think you should be too shocked if those two events reduced your credibility with the staff. If you have a genuine lead, perhaps you should text or email them to the sales personal and let them followup.
So then who would get the money that was the paid for the technology? I know the answer, but do you think?
Majo, Arbpro did a nice job of trying to answer your question, but apparently you didn’t get the answer you were looking for. First let me explain, you don’t purchase a publicly-traded company, you purchase ITS stock and the people that own that stock have to agree on a price that they we’ll accept. So how much would you take for the 10,000 shares you own? 2 cents, 3 or maybe a nickel. But then we’re not just talking about just you, if a company was interested in buying GLEC, they’d first start by purchasing shares on the open market until they reached an ownership level of 9.99%. When they exceed 10% they would become a “controlling shareholder” and would then have to start posting their “buys” with the SEC. Now, let’s say there are approximately 2 or 3 thousand shareholders owning the company’s stock and to buy the company they’d have deal with at least 90% of them, who’s going to go to that trouble and expense for a pink sheet company with no revenues, but may have some promising technology, which BTW, is true? If I had that kind of cake I would never pay inflated prices to you or the Ref. I mean, if they bought half of the company’s shares at a nickel, which is easily possible today, it would cost them $7.5 million, of which not one penny would help the growth of a cash-strapped company. Wouldn’t it be smarter to invest half or less of that amount in a preferred convertible stock with the cash making the company growth larger and more secure…of course it would. I’d be looking for that to happen way before someone makes a run at the common stock. So, in the meantime, do what the Ref is apparently trying to do and create some interest in the various technologies. IMHO
"Maybe he is a genius."
Trust me......he is not even close.
Let me see if I have this right....
The company announces in October or whenever, that they have a large investor giving them money to invest in the composting business in Alabama. They then get a property on which to conduct this business, buy equipment, materials and hire employees. They post all of this information in their financials and post pictorial evidence on their website. Then spring rolls around, which is when....let me see...oh yeah, farmers need compost for planting and all of sudden they start selling compost...and you think the Ref is a genius for predicting this???? Right.
Please tell me how you think this will help the company? It appears that if you do this you need to be formally warned that you’re acting with malicious disregard toward all the shareholders of the company and as a group we could sue you for damages should there be any. IMO it’s obvious that the execution your private little vendetta for some person in the company is going to satisfy you in some way, but it seems a bit sadomasochistic to me.
Good question Skinny, but I doubt he will answer, so I will for him. Anything a shareholder would do to harm the CEO would negatively effect all shareholders and would be totally irrational, but there are people out who don't think things through and if they have an axe to grind, they don't care who gets hurt, including themselves. I see where Pete has been issued a seemingly high number of shares, but the company doesn't pay him cash and he needs to live just like you and I. Also,there is a very high liability issue that comes with the position that really makes it not worth the effort. However, hopefully the management won't give up (and I don't believe they will) because I know for a fact they are very close to succeeding. If you look at the website you can see they have been at the Alabama project for a long time and now reportedly have sales. The market in Alabama is huge for all the company's product, so let's not worry about the Q's and K's for now and focus on getting some sales going.
10K's typically get filed at the end of the day, so check for it after 6pm EST. Also, you only get one extension and that ends Monday at 5pm EST.
It's my understanding that they've had 9-10 employees for months, so no news there, but they absolutely have not expanded to more than the acreage they started with, which was 40 acres, to include buildings, offices and parking. Why would they expand the operation when the demand for the product has not yet been created? Also, I heard there's a big sign in front of the property that says "PAY NO ATTENTION TO THE REF".
I'm sure the company would be thrilled to receive legitimate sales leads from any source that wants to provide them, and that includes you. They just don't want shareholders calling with some ruse about referring a customer and then ask questions like "oh by the way, how are sales going?" and a hour later being quoted on stock chat room with their cell phone published on that board. IMO whoever did that has a lot in common with a mud fence.
I have owned this stock for less than a year and have followed this board without commenting until now. I too called the company recently, but for a reason other than trying to get some kind of progress report on sales. I asked if they were being distracted by non-business related phone calls and if they were allowed to speak about the company's progress or lack thereof. The answers were, yes it's a distraction, and no, as a employees of a publicly-traded company, they have been instructed not to answer questions posed by anyone other than customer's requests for product information. So, Arbpro was right and you apparently are not listening. I'd relax and wait because I've done a lot of DD on this company and I don't think they can miss this time with any of their current technologies.