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1 million in debt left by my rough estimate calculation. 8k on 19th stated 2.7 million total debt. That 8k probably didn't include that same day. 19th, 20th, yesterday and today by using 40% of volume and 70% discount of avg share price etc etc. I figure maybe 1 milly left. Small percentage flips have been doable last 6 six but I've never gotten more then 10% gain and have done 4 flips, two break evens, one 2 percent and one 10 percent. Tough little booger. Ive made maybe 300 bucks in this and it has taken major effort. Plan on flipping until debt is less then 300k by my calculations. Then maybe this thing can run.
Grabbed some at 56. 1/4 position.
Why would you laugh at him? He's in the green. Probably can count on 1 hand how many are in the green here. Him, myself and a few others. What have you done?
I'm looking to re-enter. I sold my 009s at the open. I'm flipping this until dilution drops. By my calculations there is maybe 1.5 in debt left not including today. Volume is strong again and eating that debt away, if it keeps up the conversions will be pretty much done soon. Already showing signs so far this morning of slowing down. Keep an eye on trades to the 5th digit. Those are conversions. They lump them together for an average. Only MMs can place trades to 5th digit. Everyone looks at level 2 but there are other more effective ways to keep watch of dilution. I just re-entered now with 1/4 position.
I have. Welcome to penny land. All these have authority to do reverse splits and pretty much as much as they want. All these ORCs keep reverse split authority in their back pocket. FYI you folks are aware here of FINRAs rules for how many reverse splits a company can do in a given year right. I wonder because it doesn't seem like most do. As I've said before most should not play penny stocks.
No there is much less then 2.7 million left. I just clearly and logically expained that in previous post.
The debt remaining is NOT 2.7 million. One has to do a little math and include the 20th and the 19th. Usually a company doesn't have updated numbers until the following business day so that 8k filed on the 19th most likely gave numbers as of close on the 18th. Using avg share price on the 19th and 20th along with volume and then using 40% or so as educated guess of percent of volume the total debt is probably around 1.25 million less then the 8k states. Remaining debt is more like 1.5 million. Pay attention to volume, not days or time. It will be volume that removes the debt.
Also, the huge decline straight down from 20 cents occurred so violently because there wasn't much volume at all until the pps hit 4 cents. The converter on this is very aggressive and without volume it destroyed the pps in short order. Volume then kicked in once the pps was at 4 cents and started to eat away at those conversions. If volume remains high then the converter will be finished very soon here.
That 8k gave very important information. It gave exact numbers of the debt and from there I can rough estimate what's remaining day to day. Now knowing what was converted and what was left helps a ton. The conversions were the destroyer and the unknown about the conversions. The reverse split talk is at this time is pre-mature. QB has to first authorize authority to even vote on one. Then they have to vote, then next step is they have to give notice, then next step they have to do the paperwork, then lastly get it approved by regulators. As far as reverse split the company is at step one. The conversions is what I was concerned with, not reverse split speculation. The conversions were/are happening real time. Reverse slit is weeks maybe even months out. It's like worrying about a fire that could happen in your living room weeks from now but yet not paying attention to the fire that is currently ongoing in the kitchen.
By now knowing the debt numbers I now have the information I need to make money on this thing, and I will.
No they voted that they had the authority to do reverse splits. They did not vote to do one yet. Seems like splitting hairs but actually they are very different. Having the authority to do something and doing it are not the same. My guess is they will want to stay QB and if pps drops and stays below 1 cent then they will move to action while they have the grace period on going to get pps back obove 1 cent.
As far as voting rights forget about the commons. Its the preferred shares that hold the weight.
I hear ya. I've been playing both ways on Gold stocks, oil stocks and volatility vehicles all year. It's been a great year. I only play a handful of penny stocks in a given year now. They take too much attention for me to play them on a regular basis anymore.
Don't forget the 70% reduction price. Your numbers are good but factor in the 70% reduction.
I've been playing penny stocks a long time. Biggest problem with OTC stocks is that they are actually for very experienced folks. They are the most complicated and tricky stocks there are. It would be better for most if they stayed away from pennies. I haven't traded OTC much this year, didn't have the special extra time penny stocks take up. Big board stocks are so much easier. When trading those I can even take naps during the day lol.
You need to subtract today from the 2.7 million and might have to subtract yesterday as well but definitely have to subtract today.
I will explain what is happening. First the dilution. Is it done yet? No, 8k states amount owed has gone from 6.6 million down to 2.7 million. That was as of the 19th. Then one has to add in today. As a rule of thumb and when dilution is happening 30 to 50 percent traded that day is the conversion shares. Take the middle and say 40 percent of todays volume at the avg share price for the day and that gets close to 500 thousand. Take that away from the 2.7 million. Also was 8k including the 19th or not. If it did not include conversions on the 19th then take away another 750k. Debt still owed is either 2.2 million or about 1.5 million, depends if the 8k included as of close of the 19th.
Next reverse split. Again this is a QB, they will notify the public before a reverse split goes into effect. This is different then a pink sheet. Pinks don't do that. Pinks hit you out of nowhere that they did a reverse. QBs file and go through the proper paperwork. Think of it this way. A pink is an earthquake and a QB is a hurricane. In one you have no notice. In the other you know its coming ahead of time. This stock what has been approved as of the 19th is that they have permission do do 3 reverse splits. Before doing any split as the 8k states and simply because this is a QB there must be a vote to effect the split then paperwork has to be submitted with public notice and finally approved by regulators. A shareholder should get public notice well in advance of any split taking effect as long as the company remains QB. From what I have seen in the past is the public gets around 20 days notice before a QB stock effects a split.
QB status, yes they must maintain a 1 cent share price to stay QB. There is a grace period though. Stocks don't get dumped to pink right when the pps falls under 1 cent.
Pulled sell order
This thing needs a bullish candlestick. Sold my 009s at 0102 and will re-enter.
Bought 009. Now 1/4 position in.
QB stocks usually give public notice of at least 20 days before hand of things like reverse splits. QB are supposed to follow certain rules that pink sheets don't have to. Which is why so many prefer QBs over pinks because pinks have been known to implement things at the drop of a hat. QBs are a little different in that regard. When this stock does a reverse split there will most probably be advanced public notice first.
Penny stocks fall ahead of dilution. Lenders will short the stock days before getting the actual shares. Drives down the pps, they deliver newly issued shares (they cover) to the clearing house within the settlement time, and keep doing it over and over. Bright side is that when a stock is in this type of situation it will get about 3 very large dead cat bounces. This one hasn't even had 1 yet.
I've been watching this for a week been waiting for possible hammer with all time high volume. Closing at your 016 would have achieved that.
I was thinking the same thing. I bought about an hour ago .0135. I haven't traded a penny stock yet this year. Been playing gold oil and volatility on both sides. Decided to play this to see if I still have my penny touch.
Now still waiting for DM.
JILL FB HIMX I made some bank on all 3. I caught all 3 basically at the lows. I sold each this morning.
Also FB but I grabbed that at 151. Will sell it at around 170.
JILL and HIMX I also like currently and also bought Thursday and Friday.
DM is an extreme pinch currently. Very due for a pop. I bought some Friday. Warning though for those with weak stomachs as its been a falling knife.
I'm buying NUGT this afternoon and tomorrow morning. Will hold it for another swing trade.
Looking pretty good. I'm liking my shares at 4.8 cent avg. Felt to me 4.5 cents was looking like a bottom last couple weeks. I'm still holding. Again, the dilution has slowed greatly the last couple of weeks. This stock shows a lot of signs that it really wants to pop.
Right it is institutional ownership. For penny stocks the great majority of the time the loan sharks do toxic financing and cause a death spiral on a company they lend to. In this case that was Asher who has been a doing toxic financing in the form of convertible notes with many penny stock companies for a long time. The loan shark makes the loan. When the bill comes due the company doesn't usually have the funds to pay and so the loan gets converted into shares. The loan shark knowing this and knowing they are going to be getting a ton of shares start to short the stock with no risk as they will have shares in hand to cover with at the clearing house. It is institutional ownership because like in the case of Asher that is an institution. Also because they are an institution they can short penny stocks. The 13g is "institutional ownership", but it came to be because of toxic financing hence dilution.
Looking better. Grabbed some yesterday. I'll see what it can do. Haven't seen a 13g in a little while, dilution has calmed down some.
I'm not sure. What I can tell is that obviously there is dilution going on. 13g every few days. The stock hasn't bottomed yet. I'm watching it though. Once it does bottom it will get a good bounce.
This looks interesting. Has some potential for a run once ready. Hasn't bottomed yet IMO so not touching it yet.
I think they are going to run miners pretty soon. Just like volatility was made to look completely undesirable until a few weeks ago. I was fortunate to load up in volatility just before it spiked (UVXY at the time in the 8s). Same will happen here. Gold silver and miners always go up a lot during periods of inflation no matter if interest rates are increasing. This new period of inflation will be no different. Just like there was a shake out in volatility before it spiked I believe there is a shake out in miners now. Another example was retail in October. Made them look horrible and then they ran them hard in November and December. Nothing new, they been doing this for a long time.
Over the last 24 hours gold up about 8 bucks and miners drop. Silver also up over last 24 hours. Gold closes at high of day and miners at low of day. Also the action yesterday was hilarious. Inflation fears will make the dollar go down not up and gold go up not down. Yes rates will rise which is a headwind to commodities but inflation is a tailwind and inflation is the stronger force. Gold always goes up during periods of inflation and there are usually interest rate increases. Inflation wins every time. It is amature hour on Wall street right now. Once they get a clue the dollar will fall hard and gold will shoot up and take miners with them. The essence of inflation is the fact prices of tangibles rise while currency falls and yet these clueless "professionals" are doing the opposite. I entered JNUG at close as I see miners being an absolute bargain right now.
Entered after lunch. I expect gold stocks to have a nice run starting next week. Gold stocks like everything else are oversold but they are very cheap here. Gold is well over $1300, GDX and GDXJ should be much higher. They are way too low for where gold is at.
Also bought GUSH around lunch too. Also SVXY. Nice day today but next week should be great.
I agree with the tech wreck but gold stocks should start doing very well. It usually takes a few weeks of market meltdown for gold stocks to be bought. Look at early 2016 for instance. Also inflation is finally here after more then 10 years. That is when gold and gold stocks thrive the most. As far as the rest of the market a 10 to 20 percent correct is good. Investors need to get used to inflation and volatility again. Economy is good though so I wouldn't expect any more then a correction. I do expect gold stocks to thrive in this new market environment. Market volatility and inflation, the perfect combination for gold stocks.
VIX won't stay over 30. Actually it will go below 20 within a week or 2. Inflation is here however and this is a new market. Forget about VIX at 10 or under. Those days are over. The economy is doing well so the stock market will be ok but there will be swings now. Like there used to be. VIX at 10 is never normal but VIX over 30 isn't either. VIX at around 15 is normal. With a new inflationary environment I think thats what the VIX mean will be for now on. VIX futures had been suppressed for 2 years, an explosion was destined. VIX futures can not sustain these levels though. VIX will cool off and VIX futures will too. I expect VXX to cool off in coming weeks and I actually think SVXY is a good buy right here. Got to have guts though. I'm going to start nibbling.
Be patient I'm confident that a rise in gold stocks will come soon. You need at least 2 to 3 weeks of market meltdown for people to roll into metals. Also we haven't had any real inflation since 2007. Let that inflation kick in and watch what commodities do. 3 weeks ago I went into UVXY. I did so because of how over bought the market was and how suppressed volatility had been for so long. I also saw huge imbalances in charts. I'm out of volatility now but things are different now. We now have a market aware of inflation which there had been none for over 10 years. Commodities, gold stocks, volatility are the places to be in this new environment. The market will be fine after it settles down some as the economy is doing well. The volatility easy money has been made for now. I expect volatility to slide back and hang around 15 for VIX within a month but no more VIX under 10 stuff. Those days are over. This is a market that has been missing inflation for over a decade. Gold and other commodities and gold stocks should thrive in an inflationary environment. Volatility will be fun and there will be market swings. I expect the markets to be flat to a little up this year because again the economy is good but inflation will cause big market swings. Allow investors time to get their head around this new market and I'm sure as always gold and commodities will be the place the put a lot of their money. Many didn't see this coming at all so they are deer in the headlights. Give time for them to adjust and understand we are entering an inflation period and you will see money come into commodities.
Imo this is a great environment to buy gold stocks right here. The two main reasons to buy gold silver or gold stocks are inflation concerns or stock market turbulence. In early 2016 we had a market correction and gold stocks went nuts. The last time I remember any real inflation was the couple of years before the housing crisis of 2008. I remember gold and gold stocks doing great in 2004 through 2007.
If you look around we currently have a correction in the markets and at the same time inflation worries are starting. It won't matter if the fed raises rates. That won't make gold go down. Inflation will over power and make gold rise just like in the past.
Gold is very reasonable right now and silver is cheap. Gold stocks are at great prices. I also like the chart setup. Plenty of room to rise. It usually takes a few weeks of market meltdown before gold stock rise. Add that inflation is here as well and I can think of no other asset I would want to get in at this moment.
Today was just a pop. It isn't ready for the dead cat run yet. It will be though. That ADX can't stay like that. Keep on watch IMO. Opportunity will come.