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Some good points. I disagree with you about one thing, however. The fundamentals do matter if the stock is primarily a pump-n-dump. If you know the deal is bad--that the promoters will be dumping--then the momentum, when it reaches a frenzy, should be viewed as a selling or shorting opportunity.
Take EVCC, for example. The guys who owned the technology agreed to merge into the public shell for only around 1/3 of the stock. Quality deals (and that's relative term, the vast majority of these reverse mergers are complete garbage) usually give the sellers 80-90% of the combined company. Anything below 70% is *highly* suspect. And these guys accepted a third. Less than a couple of Russians in Vancouver who owned the shell. That speaks VOLUMES. Add that to the fact that someone is spending *multi-millions* in cash, not stock, to promote this via fax, email, and mail. Perhaps this is the one-in-a-million exception to the rule, but those, sports fans, are massive, massive red flags.
Perhaps. It's certainly got some mo.
Besides that, why do you like it?
What I don't like:
-$17k cash
-$4mm worth of plant and equipment but it's all leased
-working capital deficit of $2mm including $1.9mm advance from insiders
-zero sales
All this for a mere $75mm. Looks like a *stock* distribution venture to me.
Funny you should mention RSPG. I was just looking for some of that today. Up on vapor. Would love to see that one run to 7.
Someone told me he called the company to see about doing a deal for some of their water. All they wanted to talk about was the stock and offered to sell him some.
Well, that was interesting.
I think we both banked nicely. We know the promoters made out HUGE and the makers too. But there are tons of losers out there. Very sorry to see them scammed. I'm glad I'm on the right side of this deal.
CSHD, QEGY, HYPF, TNEN, and now EVCC
MR, my first post on the stock was yesterday. Great to see you here, btw. The only people in this one are the promoters and hot money folks like yourself. This stock is a house of cards to begin with. There is no there there. And it is way way way overbought.
I'll agree with you that it probably won't fall like some of the pink sheet trash. They'll be people buying every 50c dip for scalps. Just more opportunity for the promoters to dump more stock.
If by some chance they decide to take it higher, they run the risk of attracting media attention. At $8, the market cap will be $500 million. Stock lemon, stock patrol, Byron, Lee Webb at stockwatch, Christopher Byron, the Fool etc will start taking notice. Btw, don't you just love trying to sell a bb stock when panic sets in? Like yelling fire in a crowded movie theatre. I'll bet you've got your mouse pointer hovering above the sell button. Good luck to you and your "investment".
$10? I suppose it's possible but I seriously doubt it. At $10, the market cap is $600 million. Scams don't usually get that high. $400 million just for the shell. ROFL
This is a different animal than TNEN, CSHD, QEGY, and HYPF (stocks that got pounded after I posted warnings) but it's ultra-high risk here nonetheless.
EVCC is now a a short (if you can borrow it). Nothing here but the huge promotion and market manipulation imo. Market cap *if* they close the acquisition is $300+ million. They plan on spending $50,000 on R&D this year. Enough said.
Hi Cindy,
I haven't been following CSHD for a few months but it looks like the scam continues. Would you mind giving me a quick synopsis?
Schade
Buyer Beware.
STXX is being run. We're now in the short-lived parabolic phase and the stock is very dangerous here. At some point, I expect it to dump hard. Remember, this stock was 25 cents in April.
Wow, exciting. I guess that makes Bizauctions a three-car garage sale now.
Pump away. We'll see ya at a nickel.
ROFL. All the greatest advances in science are developed by newly trading pink companies that demonstrate their achievements to the world via youtube. How does -40% taste today?
Using electrolosis on board a car to power a car using only water. Also, their efficiency claims are silly imo.
But there's an easy way to solve this. Have the technology tested at at least one reputable, independent lab. The youtube announcement tells you all you need to know about this company. Hype, self-promotion, lack of third party verification.
No, but I've taken enough physics to know that it is impossible unless they've discovered something that the rest of the scientific community has missed. Get a grip. They probably spent more on that slick website than they did to develop the technology.
Nice action today...if you're short.
All scams, eh?
How often do you see a promotion site paid 20% to help another firm dump millions of shares of stock?
http://www.thecapitalreport.com/
http://www.pixismedia.net/creports/hypf2disclaimer.pdf
This one stinks to high heaven.
HYPF is a stock promotion. The technology is obviously bogus imo. The stock could go higher but I expect a rapid decent and believe it will be back to 10 cents or lower before long.
I called CSHD and QEGY. HYPF is next.
Sorry, Arby. No sub here so I can't pm. I'm flat TNEN having covered waaaaay too soon. Hopefully it runs like a banshee and I get a chance to rehit it. We all win. lol
You see QEGY? Pretty nice, eh.
Pay attention. I have made it clear that I think QEGY is a near worthless stock promotion. I am short and I have a very nice profit. The stock may have been $3 last month but that has NOTHING to do with what it is worth. I have pointed out that they have spent millions on the promotion. Prior to the promotion, the stock was very tightly held. The stock started trading with volume at the beginning of July. By the 7th, the stock closed at 1.99. Virtually everyone who has bought into the QEGY story is now underwater and most are down 50%+. Anyone who listened to me as late as this Tuesday could have save themselves a large loss.
I don't care about the acreage or the working interest in the wells. Follow the money. How much did they pay for the acreage? How much did they pay for their participation interest? Do you not think that the seller of those assets was trying to get full value? How is something worth $1 today worth $100 a month later? And why does someone spend millions of cash for mailers, email promotions, telemarketers etc if they do not intend to sell? Who do you think is selling here?
It is pointless to talk about this stock in the context of the energy market. QEGY is a massive stock promotion, not an energy play. The company has minor interests in very modest wells. These wells don't begin to justify the market cap even at the current price. The company has no cash. It's going much much lower.
Sorry, Arby. No do-overs. You lost. I'm not into games. I'll post what I see, when I see. But keep posting your picks. I need the short ideas.
2.15 and still a long long way to go. Sub $1 in three months.
4 weeks is too arbitrary, and besides, there's no need to do that. We have all the accountability we need right here. If you want to be taken seriously, post your recs real-time.
BTW, QEGY ain't looking so hot today. I seem to recall someone calling that one a short. It's going to the pennies within 3 months. Sounds like the perfect long for you.
Arby, Arby, Arby,
Spin all you want. Our posts here are all archived. Anyone can see that:
1> I called CSHD a scam. The SEC is all over it and it's off 85+% since I called it.
2> I said TNEN was a big phat promotion. The stock is way off from where I called it a short. (I also called a cover before the rebound)
You, on the other hand, *claimed* to buy TNEN at a price it barely traded at, long after it traded there. Since the actually date since you admitted to being long, the stock is down significantly. And RRGI, another stock you were bullish on, is a bottomless pit. Now you claim to have made a big profit on CSHD. Show the board where you posted your buys and sells. Or are we to just take your word for it? ROFL.
Let's have some more picks. I need something new to short.
Hey Arby,
You ever buy CSHD? That one doesn't look so hot. Getting sued by the SEC and dumped to the gray market will do that ya. QEGY is next. Multi-million pump-n-dump. Since you seem to think you can make money trading against me, you might want to buy a few.
BTW, it looks like you got another huge winner with RRGI. I love this post. The stock closed at .22, now it's .12. Why why why indeed. LOL.
Posted by: Arbitrager99
In reply to: thedingo who wrote msg# 475
Date:10/25/2006 11:23:26 AM
Post #of 581
Why why why woul danyone jump out 79% down. Why not stay in and ride the upswing That is plain crazy.
Stockwire compensation disclosure
http://www.stockwire.com/index.php?option=com_content&task=view&id=115&Itemid=69
Quantum Energy Inc.
Coverage Period: July 07, 2006 - Present
Company Symbol: QEGY
Compensation: Stockwire Research Group, Inc. was originally paid six hundred forty thousand dollars by a third party shareholder for coverage of the company. That contract has been extended to a total of one million six hundred forty thousand dollars cash.
Scott Fraser and his stock promotion empire, that's where. He's teh only one covering this stock. I think it will continue to hold up until Scottie is done with it.
ROFL. Good point. All Rufus has to do to keep his tribe happy is to create confusion. Half-baked theories make perfect sense when you're half-baked.
Wait, I thought Rufus was supporting MA as CEO?
BTW, the notion Our-street is involved with a toxic funding deal on CSHD is laughable. Why would OS bash CSHD month after month if he was long?
You are either intellectually dishonest or a complete moron.
Your statement is complete garbage:
"The only thing they publicly stated is that others think the numbers are incorrect which, "caused the Company to be subjected to investigations by the Securities and Exchange Commission for filing erroneous financial statements".
You conveniently edited out the next statement in the 8k which I posted:
They have published misleading and questionable press releases and other communications to shareholders and the general public
Rufus issued misleading and questionable press releases. Rufus is a liar. Get it? Of course you don't. You're a moron.
Kenny,
For three months longs here claimed that CSHD had the SEC's stamp of approval because they had not disputed Rufus' press releases or filings. Then one day, BAM!! The wheels of justice grind slowly. Just because you think the system should work a certain way doesn't mean that it does.
This is a scam. The SEC says so. The SEC's experts say so. The judge who granted the RO said so. Rufus' partners like Deutsche Bank and GA say so. Lee Webb and Roddy Boyd say so. Even the company's new management says so. It's a fact.
Lens,
Does this look familiar?
Specifically, the new Officers and Directors have caused the Company to be subjected to investigations by the Securities and Exchange Commission for filing erroneous financial statements thereby causing a halt in the trading of the Company Stock. They have published misleading and questionable press releases and other communications to shareholders and the general public and they have failed to file proper documents and amendments with the Delaware Secretary of State relative to the Company’s Articles of Incorporation.
It's from the 8k filed by your company less than a week ago. The financials were bogus. The press releases were bogus. Rufus and Ben are gone. Horton is gone. There are no bonds. It's over.
CSHD will be under 5 cents within a month. These prices are an absolute gift.
Doni,
Even if everything you said about OS were true (and it isn't), that wouldn't change the facts about this company. Our Street is just the messenger, one of many messengers, in fact. None of these messengers expected you or anyone else to accept them at their word. It's always been about the evidence. You chose to ignore that evidence, the same evidence, btw, that the SEC found compelling enough to put in its complaint against Rufus.
Further, all you had to do was run a few of the press releases by any CPA or CFA and they would have told you to run, not walk, away from this stock. Finally, you could have listened to your common sense which should have told you that this is too good to be true and doesn't make any sense, especially after all the missed deadlines, failure to deliver on all the key aspects of the deal, the ridiculous interviews, the negative media coverage, etc.
You have only yourself to blame. Whether you choose to learn something from your mistake is entirely up to you.
Nice group of companies to be associated with.
------
Friday , October 27, 2006 15:22 ET
Oct 27, 2006 (financialwire.net via COMTEX) -- October 27, 2006 (FinancialWire) Who is behind stock promotions for Pure H20 (OTC: PURH), Matrixx Resource Holdings (OTCBB: MXXR), Globex Inc. (OTC: GLXI), and Quantum Energy Inc. (OTCBB: QEGY)?
Often but not always, illegal junkfaxes and spam are distributed by unscrupulous "pump and dump" promoters without the company's knowledge. These junkfaxes and spam emails proliferate throughout the financial community, leaving many recipients begging for anyone to help stop them.
It is usually a muddle that the U.S. Securities and Exchange Commission has been urged by the SEC Forum on Small Business to ferret out. In April 2006, Pink Sheets, LLC, entered the fray by asking the SEC point-blank to adopt rules mandating increased protections for investors against fraudulent activities by securities promoters and their sponsors. The proposal (viewable in full at http://sec.gov/rules/petitions/petn4-519.pdf) also specifically targets the flood of unsolicited spam emails and faxes promoting OTC securities to individual investors.
The spam touting Pure H20 provided no compensation information required by the SEC.
The spam hyping Matrixx Resource Holdings contained no compensation information required by the SEC.
The spam recommending Globex Inc. claimed that an unnamed entity received 380,000 free trading shares from two different third parties not officers, directors, or affliates.
The spam hyping Quantum Energy Inc. held no information concerning compensation as required by the SEC.
The SEC has pursued many of these stock market promoters.
On March 9, 2006, for example, the SEC filed suit against BMA Ventures, Inc., a registered investment adviser, and its president and owner, William Robert Kepler. According to the complaint, from January 2004 through March 2005, BMA Ventures and Kepler issued newsletters by bulk fax under names such as "OTC Premier," "Inside Wall St.," and "OTC Marquee" recommending that the recipients purchase the stock of 26 companies, virtually all of which were penny stocks.
The complaint alleged that the newsletters were fraudulent because they did not reveal that BMA Ventures was secretly selling its stock in the same companies contrary to its recommendations, a practice known as "scalping." BMA Ventures and Kepler obtained approximately $1.9 million through this scheme. Finally, BMA improperly registered with the Commission as an investment adviser because it did not meet the conditions necessary for registration.
The Motley Fool has warned: "[Pumping and dumping is] the illegal act of buying shares in a company, hyping it to pump up the share price, and then dumping the shares before they fall in value. Since this practice is usually done with small and volatile stocks, the pump-and-dumper's selling will likely contribute to the stock's rapid downfall. This practice has flourished on the Internet, where unscrupulous folks have found it easy to pump up the stock prices of penny stocks (those trading under $5 per share). The Securities and Exchange Commission and others have gone after many pump-and-dumpers...."
Meanwhile, the public can take some steps. One action available is to contact the company and insist that it file an 8K with the SEC stating, first, if it has any knowledge as to who is behind the spam or junkfax, and second, specifically whether it has issued shares to promoters or financiers or anyone else now or in the past that could conceivably have wound up buying junkfaxes and spam emails, and their names and addresses and phone numbers so that aggrieved investors may contact them to determine who is behind a suspected pump and dump scam. Recipients may also fax or email the spam or junkfax to the company so that the company will have the full details.
The SEC Forum, meeting in San Francisco September 19, 2005, voted to send to the full SEC a recommendation that it adopt "more stringent disclosure standards in Regulation 17(b), to include in addition to or instead of a company or partnership, whether in the U.S. or offshore, and the natural individual(s) behind any stock promotions, the holdings of those individuals and their nominees or agents, if any, and their specific intended sales of the promoted stock."
According to the Forum participants, stock promotions "proliferate throughout the financial community, in the form of massive spam emails, junk faxes and websites, many of which mimic professional research reports, and whose sole purpose is to stimulate volume so that undisclosed holders and their promoters may sell into the buying of unsuspecting, and often unsophisticated investors."
The SEC has also initiated a new and aggressive campaign to foil what it calls suspected pump and dump promoters by suspending trading in the equities of companies that either participate in or have been targeted by suspicious promotions.
Some observers believe such a "cooling off period" could "cool the ardor" for suspect promotions if investors have an opportunity to further evaluate junk faxes and spam emails they have received, and could prevent some more naive investors from putting their money into stocks that are the subject of large-scale promotion campaigns based on questionable substance or fundamentals.
The companies are among some 400 recently identified with aggressive stock promotions via unsolicited spam or junk faxes. It is not known if the companies approved of the promotions. A few of the group have disavowed any connection to the promotions, but most have not commented, and for many, the campaigns continue unabated. One thing consistent with most: after the campaigns end, and often before, their stock prices plummet.
In fact, in a recent portfolio kept at http://www.spamstocktracker.com by Joshua Cyr, an individual investor, the experiment showed that of 37 stocks out of 955 spams he entered in the portfolio, a $17,405 tracking "investment" in those 37 stocks between May 15, 2005, and June 27, 2005, had turned into $9,574 by October 2005, a stunning and debilitating loss of half his investments!
Perhaps more educational for naive investors, only two out of the 37 actually gained. Only three of the remaining 35 had single-digit losses. The remaining 32 had significant double-digit losses, from 20% to 99.83%, despite faxes and emails screaming that they were the next Microsoft or better when he "purchased" them.
Worse, Cyr said, most had momentary, one-day gains and then "dropped like flies" the very next day.
BusinessWeek, published by McGraw-Hill (NYSE: MHP), in an article May 15, 2005, said SEC Enforcement is zeroing in on micro-cap fraud with a novel strategy and new tactics.
"In the past, SEC lawyers chased swindlers one company at a time. Now the agency is targeting gatekeepers such as broker-dealers, promoters, and lawyers, who show up in scam after scam. And rather than waiting months until it can prove intent to defraud, the SEC is halting trading in companies that it suspects are about to be monkeyed with as soon as it finds what it considers clear-cut evidence of violations.
"The campaign to squelch micro-cap fraud was part of (previous SEC) Chairman William H. Donaldson's push to get ahead of abuses before they cause investors widespread harm."
The article is at http://www.businessweek.com/magazine/content/05_12/b3925104_mz020.htm
This theme is echoed in an article by Deborah Solomon of the Dow Jones (NYSE: DJ) Wall Street Journal, published March 1, 2005, "the SEC's move is part of the agency's broader attempt to get ahead of possible fraud before it becomes widespread." The article may be accessed at: http://online.wsj.com/search#SB110729717180142868
The SEC has apparently developed a "profile" to determine candidates for potential trading halts. Solomon said the agency has implemented a "risk based" approach to help identify potential problems, and last year took the unusual step of halting trading in the securities of 26 "shell" companies that failed to file timely financial disclosures with the agency.
The SEC also recently temporarily suspended trading in Commanche Properties (OTC: CMCH) and Courtside Products (OTC: CSDP), both of which disclaimed any company or executive association with the spam email and/or faxes that triggered the SEC suspensions.
In the case of Courtside, the SEC said it is investigating whether Courtside was misled by stock promoters who advised the firm to go public by relying on an SEC rule that allows companies to issue shares and raise money without registering with the commission, if certain conditions are met. The conditions include issuing a portion of the shares to "accredited" investors.
"Federal securities laws define an accredited investor as certain entities or individuals, such as banks, insurance companies, registered investment companies or trusts," said the Wall Street Journal.
"The SEC is looking into whether the stock promoters, who agency officials declined to identify, may have falsely portrayed themselves as accredited investors in order to gain shares of Courtside. The promoters may have then sought to sell their shares to investors and later drive up the price through spam e-mail and faxes. Investigators want to determine whether the ultimate goal was to artificially stimulate demand for the stock and then dump shares once the price increased.
The SEC also recently suspended trading in as many as 39 companies in a single day, although it is not clear if those were involved in or victimized by promoters.
These included Advanced Media, Inc. (AVMJ), Air Packaging Technologies, Inc. (AIRP), American Film Technologies, Inc. (AFTC), American Plastics & Chemicals, Inc. (APLC), AmeriQuest Technologies, Inc. (AMQT), Apparel Technologies, Inc. (APTX), BPI Packaging Technologies, Inc. (BPIE), Chantal Pharmaceutical Corp. (CHTL), CML Group, Inc. (CMLK), Compositech, Ltd. (CTEK), Crown Laboratories, Inc. (CLWB), DBS Industries, Inc. (DBSS), Dental Medical Diagnostic Systems, Inc. (DMDS), Dispatch Management Services Corp. (DMSC), Eglobe, Inc. (EGLOQ), and
Also, Enamelon, Inc. (ENML), Finantra Capital, Inc. (FANT), First Scientific, Inc. (FSFI), Hayes Corp. (HAYEQ), Hybrid Networks, Inc. (HYBR), iPrint Technologies, Inc. (IPRT), Microage, Inc. (MICAQ), MigraTEC, Inc. (MIGR), Network Computing Devices, Inc. (NCDI), Pacific Systems Control Technology, Inc. (PFSY), Paracelsian, Inc. (PRLN), Pharmaprint, Inc. (PPRT), Pinnacle Micro, Inc. (PNLEQ), and
Semiconductor Laser International Corp. (SLIC), Socrates Technologies Corp. (SOCT), Star Technologies, Inc. (STRR), Sunrise Technologies International, Inc. (SNRS), Telemonde, Inc. (TLMD), thehealthchannel.com, Inc. (THCH), Transmedia Asia Pacific, Inc. (MBTA), Tristar Corp. (TSAR), VDC Communications, Inc. (VDCI), Vianet Technologies, Inc. (VNTK), and Visionamerica, Inc. (VSNA).
"At issue is the potential for so-called pump-and-dump schemes, whereby speculative investors, company insiders or others try to inflate demand for a stock by trumpeting positive-sounding information about a company, typically via e-mail, and then cash in their shares at the higher price. Often the information is false and the stock quickly declines again," explained the Journal.
The SEC said that each week, the SEC's Internet enforcement division, headed by John Reed Stark, gets thousands of complaints from investors "about spam email plugging stocks and other investments."
"We want to head off possible damage to shareholders before it occurs," John Reed Stark, chief of the SEC's Office of Internet Enforcement, was quoted as saying.
Investigators want to determine whether the ultimate goal in many of these instances is to "artificially stimulate demand for the stock and then dump shares once the price increased."
The SEC hastened to add that it is not asserting that many of the companies themselves are involved in the schemes. Often they are just bystanders, but sometimes it results from stock issued to offshore and even "promotional" sites and email and fax originators to create "visibility," and the promoters often violate their promises to the companies to sit on the shares.
"Under certain circumstances, an improper stock distribution in violation of SEC regulations can be a prelude to a manipulation," Peter Bresnan, an associate director in the SEC's enforcement division, was quoted as saying.
Investrend Information's (http://www.investrendinformation.com) Investors Resource Center has teamed with JunkFax (http://www.junkfax.org), which allows those receiving unwanted stock promotions to provide the evidence directly to FinancialWire.
Many but not all have missing or incomplete disclosures under U.S. Securities and Exchange Commission Regulation 17(b):
"It shall be unlawful for any person, by the use of any means or instruments of transportation or communication in interstate commerce or by the use of the mails, to publish, give publicity to, or circulate any notice, circular, advertisement, newspaper, article, letter, investment service, or communication which, though not purporting to offer a security for sale, describes such security for a consideration received or to be received, directly or indirectly, from an issuer, underwriter, or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof."
The SEC has told FinancialWire that Regulation 17(b) means full and complete compensation for research and any other services provided, including amounts and sources, must be disclosed in "every press release," as well as other published documents, including emails or faxes. The SEC states that third-party compensations must include the relationship of the payer to the issuer.
In an email to FinancialWire, John J. Nester, a spokesperson for the U.S. Securities and Exchange Commission, confirmed that regulators interpret 17(b) to mean that specific compensation information must be contained in all such communications to the public, and that a link to a disclosure somewhere else, for example, is a violation of the regulation. He further stated that the compensation disclosure required by the SEC includes "amounts and sources" in any and all communications mentioning the company. The SEC has indicated it is serious about violators. Earlier this year, the SEC charged JM Dutton Associates with violating 17(b) disclosures and penalized the firm $25,000. It also recently similarly charged BlueFire Research for the same transgression.
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Rookie,
That's an interesting explanation. Where do you hear that, or did you just make it up?
Cash beats a coupon, receivable, uncashed check, IOU--whatever--cash is king. Isn't that obvious?
Those pics are amazing. What a happy bunch of people. Guess it just goes to show that there's more to life than money.
Mind blowing, isn't it? I can sort of understand people getting sucked in during the first couple weeks of this scheme, but anyone who believes Rufus at this point is willfully ignorant. This truly is a lesson in psychology--the cult of Rufus and his prophet, Tut the cobra charmer. Did you see how over 100 people were going to meet up with Rufus and Mike in Dallas? Truly bizarre.
First of all, interest on bonds is invariably paid electronically. There is nothing to cash; if the bonds are held at a financial institution, the interest is automatically deposited.
But even if it weren't, there is NO LOGICAL REASON not to cash an interest payment. No further interest accrues on that interest. Even if one did not intend to spend the money right away, the intelligent thing to do would be to deposit it somewhere and earn interest.
Finally, the WHOLE POINT of the bonds was to raise money for Rufus' various ventures. $20 million is a large sum of money and could fund a number of startups for quite a while. Why wouldn't Rufus take the interest and get all these businesses going? Remember, he never issued a single press release announcing the funding of even one of them so this would be a very, very big deal for him.
You don't have to take the word of a basher. Just think for yourself. Rufus' excuse is just plain lame, as is this entire scheme.
As a basher, I agree, of course. Was just pointing out to longs yet another way to test Rufus' credibility.
Yes we will. Rufus said in the interview last night that makers will line up to make a market in CSHD on the 7th. Bashers say no maker would be crazy enough to do that. Seems like a good thing to watch for. If CSHD goes grey, why would anyone believe Rufus about *anything*?