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I agree billion,
the best part is all shorts, nekkid or otherwise, lol, will have to be ocvered. The LSE doesn't tolerate it all like htey do here, and is my guess as to why the company tuned down the NYSE if so.
I recall an article awhile back that showed most new IPO's were going elsewhere around the world to start off, because of the SEC not cleaning up the nss here, so it's no surprise a smart businessman like Newton would list somewhere else~
billiondollarman,
there are different levels, but basically it has to be 3$ to be on the NYSE, and the company turned them down?!?!
hahahhahaha!
Bring on the LSE, 10 GBP (pounds) would be 15 US dollars, lol~
Tigerfaninnc....................
if it opens up on the LSE(I hope it does!) then whatever it trades at there in pounds or pence would be converted into US dollars here in our accounts, imo.
At this time the pound it takes approximately 1.50 US to get one pound, so the pound is worth more at the moment.
time to file complaints against
NITE and ST for the pps manipulation:
http://www.sec.gov/complaint/cf942sec9570.htm
If you would rather just send an email try:
enforcement@sec.gov
they're trying to save us ghcnj, lol!
falling on deaf ears though.............
hey allezlom!
I agree, what this company offers could really help the distressed areas of the world, and I really wonder how they came up with "10 times" for a figure, must be a conservative number as are all of their figures, imo~
from the website:
International Wastewater Projects
Currently, IWS is working on potential projects in Africa, Mexico, the Caribbean, South America, Southeast Asia, Southern Asia and Canada. This international business, which is estimated at 10 times the U.S., business will be a major growth opportunity for RCC/IWS.
I like "major growth", especially 10 times what it is here~
yes he could,
I just updated my previous post~
no Turbo.........
if the stock goes to the new exchange then gets listed as an ADR here, it could only get legally shorted here, and not illegally shorted or naked shorted on the new exchange, that's the whole reason of moving I thought. The new exchange has stricter rules, and the US exchange would have to follow those if someone wanted to legally short the ADR here.
Of course they could just move to the new exchange then list here as an ADR down the road too~
I'm all for it hotdog1012!
That's why I keep buying haha!
TwinTurbo,
in that scenario, no they wouldn't have to go with an ADR, but us American investors would have a hard time trading the stock.
Always a possibility though~
the last one I can think of ghcnj was
"LFZA", which became "USSE", went from .0003 to .80+ in a few short weeks a couple years ago.
The merger announcement went out, stock went from triple zero's to the multiple pennies in a flash, settled there for a day or so then ran as the news was released.
Once the pr was out there was no getting the triple zeros, the mm's leaped over each other to get to the pennies, lol~
I'd rather see the CKXE scenario here though!
ghcnj,
it would be nice to have another stock to compare it to, but I haven't found one yet.
The closest thing I can compare it to is a reverse merger where a private company gets merged into a public shell, but even then they still go to the otcbb first typically.
RCCH must have the assets to be valued to at least 3$ to make this move, (if they go the ADR route here)there is no way to do it otherwise.
History, looking forward to it, lol!
good morning ditch72,
I believe if this is leaving the pinks then the day before it should show up on the Daily List, as any other uplist would with instructions, such as "certificates to be turned in for exchange for new cusip number and symbol" or "moving to XYZ Exchange" or something along those lines.
The company has to put out a pr at some point too. Whether before the actual uplist or after is still up for debate.
Personally I believe when they get the go ahead we will get the pr with the specific date they move, and there is some time, say 1-2 weeks, before the stock leaves the pinks, this would give them (the brokers/broker dealers/mm's) time to cover their short if they have one, at least that's been my impression after speaking with several broker reps since Sunday. Those reps could be wrong, as this stock is the only pink I know of skipping the otcbb altogether and going to an international exchange, and I can't find a similar example of any stock doing that even though I'm sure one has done it in the past, so I've yet to get a clear answer from them citing a specific protocol, they don't know and are just going by what typically happens when a pink uplists to the otcbb~
I agree dale,
until they get the official release they probably can't say much legally, and it keeps us at these levels.
would be nice billion
to get a real progress report if they can, we've waited long enough.
Something a bit more specific than 'on schedule' would do nicely............
dale w,
they wouldn't part with any .0001's for me today so I got some more 2's ;)
I think we will~
if not, my position here will just get bigger, lol!
welcome back toolman,
hope you're doing better~
Looking for the uplist news and exchange move anyday now here~
All the best!
there it is, many thanks hypehunter!
very reasonable mortgage1
especially if they have the assets to make the uplisting move, there is no way they could uplist otherwise, so this is very undervalued to say the least, and should turn a few heads when it uplists~
Can't wait to see the audit when it is released, there'll be no doubt then, imo.
mortgage1,
I believe hypehunter has posted an email from Newton stating we have been buying shares worth 3.50 for less than a penny, maybe he'll post it again for us, he didn't say it should be trading at 3.50, just that is was worth that......
Last official OS I knew was 340 million but could be higher since the TA is gagged, or lower, we have no way of knowing until the gag is lifted when it uplists.
General consensus is the OS will be higher upon uplisting, guesses have ranged up to 500-600 million fwiw.
The OS hasn't been 24 million since last February, then it started increasing with the addition of restricted shares we were told.
You still have to add the restricted to the count, so it's at least 340 million now.
well look at that, nice dumar~
it says RCC/IWS stock information coming soon on one of the pages.
And to follow up with my digging yesterday and to answer the pm's from the good folks that sent them:
I've found that no matter which exchange they uplist to if they go the ADR route to list on one of the senior exchanges here, such as the NYSE/Nasdaq, they would have to meet the requirements of the US exchange, and there is different levels but it boils down to a minimum of 3$ a share and as low as 2$, depending on which level they choose to go, fit's in with what Newton has been claiming the stock is worth (3.50) so take it fwiw~
It's all good, lol!
found this interesting...........
if RCCH gets listed as an ADR here, look out above, lol~
ADRs were introduced as a result of the complexities involved in buying shares in foreign countries and the difficulties associated with trading at different prices and currency values. For this reason, U.S. banks simply purchase a bulk lot of shares from the company, bundle the shares into groups, and reissues them on either the New York Stock Exchange (NYSE), American Stock Exchange (AMEX) or the Nasdaq. In return, the foreign company must provide detailed financial information to the sponsor bank. The depositary bank sets the ratio of U.S. ADRs per home-country share. This ratio can be anything less than or greater than 1. This is done because the banks wish to price an ADR high enough to show substantial value, yet low enough to make it affordable for individual investors. Most investors try to avoid investing in penny stocks, and many would shy away from a company trading for 50 Russian roubles per share, which equates to US$1.50 per share. As a result, the majority of ADRs range between $10 and $100 per share. If, in the home country, the shares were worth considerably less, then each ADR would represent several real shares.
http://www.investopedia.com/university/adr/adr1.asp
hmmm, interesting........
just spoke with a broker rep about the cutover scenario, and they seem to think that we would have to be notified before it happens, all of the agencies will need notification and they in turn would notify the brokers.
I asked since the company is moving to one of the top four international exchanges wouldn't they have to be worth at least 3$ Book Value, then this clown out of the blue says he didn't think it was going to an international exchange, I asked then why have they stated as such in the May 15, 2008 pr, and how would he know they aren't uplisting?!?!?!?!
Anyways, he says it is trading at a fraction of a penny, well no sh*t sherlock, did you know that ST and NITE are short big time and are holding it down trying to cover, imo?
So his statement was out of the blue for no rational reason, and he couldn't give me a logical reason other than the pps is low, and I continued the conversation trying to find out a definitive timeline before cutover and move to new exchange, and got no solid answer except that we would have to be notified, I added they must have the assets and value to make the jump otherwise they couldn't do it, and we are waiting for the audit to be released and company is under gag order about it at the moment.........so that's all I can get out of Sunday frontline desk jockeys, clueless as usual, but he stressed that it wouldn't just open up on the new exchange without some kind of formal notification, which is what I thought all along. Take this with a grain of salt because he could be wrong, lol~
Will try a Series 7 friend early this week and see if he can shed some light on this.
Maybe the new website will tell us regardless~
always a possibility dubu but.......
why was a 'cutover date' mentioned in a previous pr?
That's why I say we get a date in advance, we have yet to get a specific date.
Maybe we get the answer to it all this week once and for all, and end this speculating, lol!
morning ghcnj et al~
I haven't gotten a definitive answer on that subject...yet....but durk could be right.
This is totally different than most any other pink uplist that goes to the otcbb first. In that scenario the company always notifies the shareholders of the uplist a week or two in advance, as it is a big step. In RCCH's case, going to an international exchange and skipping the otcbb altogether is unusual but most likely has been done in the past, we just haven't found an example. Regardless, why I say the company will notify the world of the cutover date is because all the agencies that oversee the market, SEC/FINRA and the DTCC have to be notified when the company wants to make the move. Whether we hear about it or not remains to be seen. Our brokers will get notified by the DTCC and SEC with the notices they send out, and typically they require a week or two to get the word to the brokers so they can make the changes and cover their short if they have one. My assumption is the changes will get listed on the Daily List the day before it's official as is standard, but we should be notified a week or possibly two in advance via pr. The symbol and cusip will change most likely, and the number of shares/certs will be accounted for, any short discrepancy will have to be bought in, because once the move is made to the new exchange the new mm's will support the pps much higher than it is, you can count on that,lol~
If there is a legal way where the company can just uplist and no waiting for cutover, then more power to them, the shorts would have no choice but to pay the uplisted pps to start for covering.
Either way is good for us, one would just give them a bit more time to get shares while on the pinks, the other would decimate them overnight, imo, we get the cutover date in advance so they have a chance to get shares before the move. The stock will fly during that time too~
I haven't asked Newton and doubt he could answer while he is gagged during this time, so I am trying to find out from elsewhere, no luck yet, will post if I do find an answer~
as I pointed out bag8ger......
the odds are on the mm's side at this time.
They may be counting on an r/s to help them out, or figure they can get the company to sell them what they want by not letting the stock trade properly and shareholders complain enough.
In the case of RCCH, I don't see the typical strongarm tactics of some mm's working.
They are counting on something to get the shareholders or the company to capitulate, so they keep selling air.
If the company holds true to its word, they are screwed, period, and we will enjoy a nice profit as well.
As far as why they are doing it, only they can answer that, but they are treating this like any other pink pretty much, but I do think they realize it has something to it, so they are doing their best to paint the tape and demoralize shareholders, so far that is backfiring on them, lol~
bag8ger,
imo, the shorts are desperately trying to cover on the cheap by creating false volume on a daily basis.
They may have scared up some shares, but on the other hand it looks like the longs are taking advantage of their nss'ing and adding.
This will just make the covering that more painful for shorty.
Until it's all official in an SEC filing the shorts got the odds on their side, once the audit is released then they will know just exactly how much trouble they are in, as it will be right there in black and white. No audit means no real covering for them, they will just ignore it and do what they have been doing for months now.
If RCCH was to remain on the pinks they could prolong covering for a long time, but when they uplist and get a new mm to take them public all the short mm's like NITE will have to go to them to get shares if the company won't sell.
The new mm(s) will control the game at that point, and the ones in the game right now will lose their grip on it, until then, the pps won't go up much imo.
But once that audit is released.............a whole new ball game, supported by the mm in charge, the rest be dammed~
absolutely believe it will uplist,
the process is already in motion. Just a matter of time before we get the details, next week looks to be good for some of the answers we are looking for.
As far as pps at the open, until we see what the numbers are in the audit we won't be able to put a correct figure on the Book Value, where it will start most likely imo.
Since the company is debt free, I don't see them caving into any mm demands, they don't have to, the mm bringing it public on the new exchange will set the pps and tough you-know-what to the mm's/brokers that are short, that's just how it works, it's only money, lol~
Go-Gold,
my zero sum comment was refering to what happens to the OS if there's a short, the true OS doesn't change, but the actual float might be way more than the OS because of the naked shorts, so to correct it they are 'bought-in' and the float returns to the actual OS for all intensive purposes......
I agree that either the longs win or the shorts do, so far the shorts have the upper hand, soon to change though ;)
not quite treker1701.......
if the OS is 500 million and there is 500 million sold short, the OS does not change.
The short shares are just that, 'short', not added to the OS. So when they are bought to be covered it is a zero sum to the OS, with a large cost to the short, see what I mean?
redskiesatnight.........
two notable ones in fairly recent memory:
PAIV and CSHD
PAIV went from .0012 area to .27 in two weeks of trading
CSHD went from .05 area to 3.75 area in a couple weeks of trading
Played both and did quite well at the time.
Both of those companies took advantage of the covering and dumped shares and helped kill the stock to where they are today imo.
I don't see RCCH making those mistakes, but both stocks got covered by the enforcement of that Rule 203 bit~
good question camper9,
remember that email from Newton that said he was selling restricted stock at 1.50$ ?
And he says it's worth 3.50, so that would make sense for those accredited investors buying restricted stock.
Regardless, it isn't .0001/2 by a far shot, lol~
kramrer that depends......
if they haven't run out of margin or not, if they have the money/margin to 'let it ride' then they can leave their short position open.
Of course, common sense will dictate to them once they are underwater by 10-25% with the short they will close it out as fast as they can to stop their loss.
There is no upside loss limit with a short position, compared to a long position where you can only lose 100% if it goes to zero.
lmao,
this is a rare situation, I have never seen a pinky skip the otcbb before uplisting to an internatioanl exchange, so this company:
1) has the assets/contracts/rev's to do it, period, and
2) was really attacked by the shorts from .95 to the triple zero's so
3) we should see one very nice short squeeze when the cutover date is announced, imo~
hey TT,
the SEC issues that order, and imo they are waiting for the audit to be released so the company can go forward with their uplisting.
These things have taken a lot of time for us longs waiting it out but will be done.
If their audit shows an oversold position on the books, such as when the company pulls a nobo/obo list, then all they have to do to the SEC is request a buy-in of the oversold position, and it is done, period.
You'll know it when the cutover date is announced, that is D-Day for the shorts, and is when they start to cover their short............
and to follow up my previous post,
let's say the true OS is 500 million for arguments sake.
Let's also assume more than that is held in longs hands and restricted hands, say 600 million for the sake of argument, leaving a 100 million share oversold positon.
Whoever sold the extra 100 million into the market (there is a record of all this at the DTCC) will have to buy those shares and deliver, it may take them awhile to do it, but do it they must, they (the borkers/broker dealers/mm's) will have a couple weeks to deliver under the current rules, if they still don't come up with what they have to, they face revocation of their trading license for ALL of their business. So don't think they won't clean this up, they will not risk losing all their biz revenue for one stock.
These numbers are for example only, I personally think the oversold position is much higher, but you get the drift. The pps will skyrocket, the shorts lose whatever margin they had, and we get to sell to them for what we want ;)
imo
NewbieAtThis, since you asked..........
if more shares are held by guys like us,then when this uplists there will be a "buy-in" of the oversold position, and there is a specific set of laws/Rules that govern how that is handled. Rule 203(b) is enforced, causing a fed margin call to the short brokers and broker dealers/mm's.
If you are holding shares long that have settled T+3 then you have nothing to do or worry about, but those that sold your broker the shares have to deliver what they sold, and the clock will be ticking for them, especially with this stock as it will be audited and uplisted.
The price is determined by the mm(s) on the new exchange, if they list this at Book Value at first without a market multiple, then once the audited numbers are known we can know what that Book Value is, and is where the stock will start from. If the shorts here woke up to a pps jump from the triple zero's to dollars then they will be scrambling (to say the least) to get good shares to deliver, they will be forced to pay what we're 'asking', period, they have to either get shares from us or the company, and if the company isn't selling stcok then we basically along with the new mm set the pps for the stock.
Of course, if news is put out concurrent with the uplisting that spurs new buying interest, then watch out shorty, lol!
Hope this helps.......
up 400%..........
looks like somebody figured out how to buy higher, lol~