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My favorite stock CTSH is about ready to get called away with a Jan2012 55 call not far out of sight!
Should end up with 91,500.00 in my pocket with 20k+ gain.
How's that bidless wonder FFGO doing these days after the much vaunted sale of Gold properties took an unexpected detour into delay land?
Joke company run by con men. The warmed over dummies over there never knew what hit em despite my, and several other jailed posters, repeated warnings. Never got to say I told ya so.
I see they white washed the FFGO thread of bashers and now the posting as well as the news flow from the company is virtually nonexistant.
Yes, it was wise to quash the dissenting opinions of us "bashers". And now the pumps want us back.
How is everyone holding up?
I feel great.
Steve, That BS is a GD lie. They're limiting the post of bashers. I just went down to one a day of FFGO!
Laughable? Oh yeah, at the very least.
I can san without one ounce of hesiation that I have never owned, let alone even heard of a company referring to its shareholders as STUPID.
That is one for the ages.
Oh My Gawd!
No problem. THX
Chance it. You should be receiving a form 1099-B from your broker. I suggest you check to see if you are able to download your trading activity for 2009 focusing only on those transactions whereby you sold securities to close positions. The sales proceeds form those transaction will be the amounts reported to the IRS on Form 1099-B and should therefore be your control total that all of you Schedule D entries for gross preceeds should agree to. You of course are only responsible for the gain or loss which means you must be able to support the amounts paid and the dates of purchase, otherwise known as cost basis. Most online tax prep software is quite simple to use so long as you have the above mentioned data so I do not recommend paying a preparer.
Hope this helps.
I use a very in inexpensive online preparer...
https://www.taxactonline.com/index.asp
FireLane, Oh you better believe it. I am the CFO of a Power Transformer Company and have been for 12 years with this company and over 25 years as a licensed CPA. You better believe I will not let this wreckless and irresponsible accusation that I am some kind of criminal paid basher go lightly.
wishwell, when? Tomorrow? Prepare to be disappointed in a most embarrassing and humiliating way.
If, as you state, the deal is in fact with Lumb, then that hardly qualifies as a deal insofar as there is an no "arm's length" relationship. It is as stated, another Prop Job.
Now we know why the stock price is currently a flop.
This was too easy.
For the uninitiated, an arm's lenth transaction is a transaction in which the buyers and sellers of a product/property/entity act independently and have no relationship to each other. The concept of an arm's length transaction is to ensure that both parties in the deal are acting in their own self interest and are not subject to any pressure or duress from the other party.
haveanniceday,
First of all I'm laughing because your observation is essentially a privileged glimpse of the bleeding obvious insofar as you state "the Euro is going down because the dollar is going up". You do realize that any currency quote is by definition a complementary relationship expressed as a USD/EUR and therefore the USD/EUR will always be a relationship where one goes up or down with the other doing the exact opposite when expressed in terms of the other, i.e., the relationship is always inverse. What would be a more meaningful observation is why the dollar has strengthened against the Euro and that is a topic for another forum. Suffice it to say that before I engage in what to do now, let me state that any such debate is not unlike arguing about what to feed a unicorn insofar as I do not believe there is any deal where the counterparty is not some Lumb Corporation Prop job construct , if any. Sorry.
But let’s just say for the sake of argument that there is a deal. The notion that any such deal is predicated on or somehow dependent on the notion that whether it is in fact finalized has anything to do with the vicissitudes of the currency exchange rates of the Euro vis-à-vis the USD which are fundamentally subject to fluctuations on a fairly unpredictable and random basis is laughable at the outset. No deal that I have ever made or have heard of would incorporate such a wild card condition, lest it be considered an unenforceable contract under US Law.
So, it not so many words, I don’t think there is anything to do as I don’t see anywhere in the 8K that any deal could be jeopardized by unforeseen currency fluctuations. That myth seems to be a construct borne of the knitting circle that is the FFGO forum.
sirdeth, just a hypothetical. Let say you somehow were able to accept that the properties in question are administratively dissolved as is readily available on the SOS website.
Would you say that that is a bad thing?
Sirdeth, just because you choose not to heed the calls of reality doesn't make it go away. It will be here when you wake up.
So sleep tight for now little buckaroo.
Grumps,
NO thank God. Neither. I have done hundreds of tax returns here in Vegas listing both as CMKX and FFGO as huge losses. I heard story after story and I guess curiosity got the best of me. Now, I just marvel at the twists and turns people will take just to avoid having to accept a loss.
As far as CMKX? Not likely. At best some paltry trifling of a recovery in the range of sub pennies on the dollar but nothing worth investing an inordinate amount of hope.
Sorry V. I won't.
Done for the day.
Despite me being kind of annoying, you've been very fair with me. I can respect that and what you're trying to do.
Hope this works out for you. Seriously.
Moe
bobby, in my case that would be the smell of long green.
Oldwhite, and Level II will somehow answer that question? That's like wondering what the thermometer will say when your breath is fogging and you can't stop shivering. It's a symptom, not the cause. The cause lies somewhere in the past where promises were made and deliveries of said promise nonexistent over the last 5 years! What I find profoundly disturbing and at the same time fascinating is that despite a track record of disappointment after disappointment, they have been granted a free pass to do it all over again. And do you know what device they used to get the credibility reset? They asked all the old shareholders who were let down on a similar previous deal which fell through and were then, to add insult to injury, reverse split 1 for 2000 out of existence, TO LET BYGONES BE BYGONES AND FORGET THE PAST!
Are you kidding me? They Chutzpah of these guys. What unbridled gall! The disdain they have for their shareholders is unheard of and monumental.
There's the cause, Level II is the symptom.
Oh, and by the way, shareholders old and new, as outrageous as the request to forget the past was, nevertheless acquiesced to the request by management. That is fantastically amazing.
oldwhiteguy, 300.00 changed hands today over 4 trades. Do you really need level 2 to discern what to do?
If you call this an "existence" where 300.00 whole dollars has traded hands, then I would hate to see you example of nonexistence.
Lebron, perhaps you should read the post by the poster I am replying to you by proxy. He does not seem to possess the same level of confidence you are displaying. Dare I say that your assertion that no news is good news couldn't be more separated from reality. The falloff in tweets is of some concern even to the most hopeful of touts.
Fyi
Thanks, tex, they must remove my posts. God Forbid anything I post that might actually help someone make a buck. Making money is fun and I highly recommend it for so many reasons.
greenervos, but just think, when the PR hits and this thing hits .003, that same trade wil be 2.70. Now I'm not sure you could do better digging through the cushions of your sofa for that kind of return...Uh, wait, actually you could which begs the question what are you doing here where the total traded value today is less that 10k?
And the .18 trade, that was one of your whales. This stock is lousy with pikers. Do you really think that this stock will trade on a per trade basis more that 1,800.00 a trade which has been about the average? Do you really think the bid will hold if this thing ever releases a real PR with straightforward sale? You and every piker holding this stock will hit the exits like there's no tomorrow becasaue in penny land, there rarely is one.
Not on all the naked short settlements of eleventybillion dollars.
We are definitely at the end of civilization.
Fung Derf!!!! Oh My God. From the pcbm days.
Still sporting a pulse I see.
Hey Moe!
Tex, one thing I can say about China is that they have been tipping their hat quite a bit in regards to cooling things down over there largely in response to several top analysts suggesting China a has its own Asset Bubble forming in real estate, stocks, excess liquidity and a history of price inflation during these growth spurts.
Gold was due for a retreat and with China moving to strenghten its curreny by 5% could see a sideways trend or even lower moves.
cc1970. now you seem to have a handle on it. See my reply to haveanniceday.
haveaniceday. You're exactly wrong in so many ways it's hard to specify exactly where suffice it to say you have no working knowledge of the subject matter, I, on the other hand, being the CFO of a multinational with vendors located in Taipei Taiwan, Vietnam, Hong Kong come up to this issue on a daily basis and quite frankly it is not rocket science. What I use to lock in the value of a deal in semi-conductors and memory chips is to use Forward Currency Contract which basically is a foreign currency contract to buy or sell a foreign currency at a fixed rate for delivery on a specified future date or period. The trick here is to make sure I have my lead times on delivery of said inventory fairly tight where my MOQ and EOQs are balanced across my MRP time horizon as I am basically incorporating raw material into a final build where I have quoted a fixed price for the final assembly to my customer. Can't go popping him for a foreign currency fluctuation, that's my responsibility and my goal is to make sure my foreign currency exchange gain/or loss for the year is not material to my balance sheet where the balance is disclosed.
Here is a basic definition...
Foreign currency forward contracts are used as a foreign currency hedge when an investor has an obligation to either make or take a foreign currency payment at some point in the future. If the date of the foreign currency payment and the last trading date of the foreign currency forwards contract are matched up, the investor has in effect "locked in" the exchange rate payment amount.
For the most part these are "complex" or "combo positions" in the parlance of FC traders and are actually quoted as a complex spread combining both options to lock a price of the underlying currency. My job is to simply look at the FC chain for the forward month I want to lock in.
Like I said...not rocket science. I'm sure that's exactly what these guys are using for purposes of discussing the deal and the movement of the currency one way or the other cannot be the focal point of deciding a deal.
Just more of a distraction for those who don't know better.
haveaniceday. You're exactly wrong in so many ways it's hard to specify exactly where suffice it to say you have no working knowledge of the subject matter, I, on the other hand, being the CFO of a multinational with vendors located in Taipei Taiwan, Vietnam, Hong Kong come up to this issue on a daily basis and quite frankly it is not rocket science. What I use to lock in the value of a deal in semi-conductors and memory chips is to use Forward Currency Contract which basically is a foreign currency contract to buy or sell a foreign currency at a fixed rate for delivery on a specified future date or period. The trick here is to make sure I have my lead times on delivery of said inventory fairly tight where my MOQ and EOQs are balanced across my MRP time horizon as I am basically incorporating raw material into a final build where I have quoted a fixed price for the final assembly to my customer. Can't go popping him for a foreign currency fluctuation, that's my responsibility and my goal is to make sure my foreign currency exchange gain/or loss for the year is not material to my balance sheet where the balance is disclosed.
Here is a basic definition...
Foreign currency forward contracts are used as a foreign currency hedge when an investor has an obligation to either make or take a foreign currency payment at some point in the future. If the date of the foreign currency payment and the last trading date of the foreign currency forwards contract are matched up, the investor has in effect "locked in" the exchange rate payment amount.
For the most part these are "complex" or "combo positions" in the parlance of FC traders and are actually quoted as a complex spread combining both options to lock a price of the underlying currency. My job is to simply look at the FC chain for the forward month I want to lock in.
Like I said...not rocket science. I'm sure that's exactly what these guys are using for purposes of discussing the deal and the movement of the currency one way or the other cannot be the focal point of deciding a deal.
Just more of a distraction for those who don't know better.
Tex, please take off your FFGO colored glasses and read this very non-ffgo coverage of why the ruling was landmark and not just the same ole same ole misapprehension you seem to be laboring under...
And please, try not to couch any future discoveries of news in your search for DD in terms of how it might relate to the goings on of FFGO. It's silly and quite frankly makes you look desperate.
Reporting from Washington - Overturning a century-old restriction, the Supreme Court ruled Thursday that corporations could spend as much as they wanted to sway voters in federal elections.
In a landmark 5-4 decision, the court's conservative bloc said that corporations had the same right to free speech as individuals, and for that reason the government could not stop corporations from spending to help their favored candidates.
The ruling, which will presumably apply as well to labor unions and other organizations, is likely to have an effect on this year's congressional elections. Many political analysts and election-law experts predict that millions of extra dollars will flood into this fall's contests, much of it benefiting Republican candidates.
Republicans praised the decision as a victory for wide-open political speech, but Democrats slammed it as a win for big money.
President Obama called the ruling "a major victory for Big Oil, Wall Street banks, health insurance companies and the other powerful interests that marshal their power every day in Washington to drown out the voices of everyday Americans." He promised to seek "a forceful response to this decision" from Congress. Some Democrats talked about seeking legislation that would require corporations to get approval from their shareholders before spending money on politics.
Untrolled, a little cautionary note...
This is the pinksheets where corporate figureheads say just about anything to sell shares or create interest into which that can sell. Be prepared to lose 100% of your investment. Since you inherited those shares presumably, don't go out and buy a car or a boat with your shares which at the current inside bid are worth about 200.00 in anticipation of becoming fabulously wealthy. NOT BLOODY LIKELY! And FWIW, mr. 52 million's shares are only valued at 5200.00 at the current inside bid.
So you know, I'm still waiting to see my first pennystock millionaire who isn't an insider. Been a long wait too, some 25 years. Aint going to happen here either.
Hope for the best expect the worst is a good rule of thumb in the pinksheets.
FYI
paunch, I know you need that to be true.
Reality won't agree however.
prisoner, have you been watching gold plays?
I cleaned up on a bearspread for FCX. Here, I told tex about it a couple of weeks ago.
FCX is down about 15pts since the trade!!
Posted by: moe_the_gyp01 Date: Monday, January 04, 2010 2:17:58 PM
In reply to: Texan77 who wrote msg# 96644 Post # of 100197
Tex, I do think gold is getting a bit toppy but not on a secular or protracted basis. Does that mean you should not take advantage of an opportunity to press the short side? Not on your life. The way I would play this for a short term buck would be as follows. Noting of course that 87.35 is the 52 week high and currently sits at 83.40 up 3.11 you should look at the FEB 90/95 bear spread using calls which have spiked up nicely making a bearspread nicely net credit. Right now a bear spread on the call site would open a credit spread of a little over a buck per contract. Contracts are FHZ (BR) 90.00 FHZ (BS) 95.00. I would also probably play a bull spread down to 75.00/70.00 thus locking in an Iron Condor again through Feb expiration. I think this play could pull in an easy 2k with a 5k margin requirement. As always be prepared to make adjustments if the trade exceeds the short or long strikes out in time or up/down in value.
What would you say seems to rule the day on the current price, such that it is, opinion or fact?
My fact is it's the opinion that's dictating the price, and the "fact" you believe is nowhere to be seen or you'd be rich and then you'd be nowhere to be seen.
Yes, no, maybe??
Following? Perhaps. Say, is that a torch and pitch fork toting mob I see storming the castle gates?
Gettin there.
Tom, you big spender you.
You're my whale baby.
Hey Moe!
GRumps. Thanks. Call me what you want but I am not currently an investor in FFGO and given all the aforementioned problems with this stock and pink sheets in general, probably never will be. Don't get me wrong, I love investing and do so quite a bit lately and as matter of fact had a pretty good week this week raking in a little shy of 10k trading options so I am not averse to risk. But you can count me as one of those who has an intimate association with the notion that "if it sounds too good to be true, then yada yada yada". There are just too many risks in this game that are rare in the high profile markets not the least of which is that my investment might wind up in the pockets of a crook which happens way too much in the pink sheet with the poster child for this being CMKX and I'm afraid FFGO. That is simply a risk I am not willing to take.
I am afraid that could drive me to do something quite unlawful.
FFGOers' if it’s not immediate clear at this point, let me make it so. This company needs new money to flow into the trading and that isn’t occurring. Can we all agree that this is a fact?
Now, if you are all in agreement that this is the case, then here is what I see as major impediments to this happening.
Management's unwillingness to be more communicative to present and FUTURE shareholders that the litany of problems occurring at the TA, their past track record, the delinquent deal will all be settled, corrected by new efforts, or consummated as originally promised.
If anyone has the power to change that, it is management. And so far, your management has chosen to ignore plea after plea to release information in an official capacity that steps are being taken to correct what I think we can all agree are major reasons why no NEW INVESTORS are considering this stock as an investment that will allow you to sell your position at a gain.
It seems that daily a new problem raises its ugly head that will lead any New Investors to avoid this company like the plague.
Just my thoughts on the latest with FFGO.
I know one thing. These guys pay their bills ahead of time...
Jan 22, 2010
9:53 am Accounts Receivable Cash Receipts Register
Customer IDs LIGHTING to LIGHTING
All Cash Receipts, Cash account 1. CHECKING-0050xxxxxxx
Inv # / Cash --- Distribution --
Chk # Reference Acct Customer Date Amount Apply to Amount
====== ============ ==== ============ ======== ========== ======== ==========
11447 1 LIGHTING 04/24/06 230.00 17059 230.00
11494 1 LIGHTING 05/19/06 266.70 17126 266.70
CrCard 1 LIGHTING 06/10/06 167.20 17264 167.20
1152 1 LIGHTING 11/22/06 501.60 OpenCr 501.60
1183 1 LIGHTING 11/30/06 103.60 17198 103.60
CrCard 1 LIGHTING 03/09/07 46.33 17868 46.33
1659 1 LIGHTING 06/29/07 4876.80 18492 4876.80
1766 1 LIGHTING 08/13/07 8422.40 18614 4358.40
18604 4064.00
1795 1 LIGHTING 08/13/07 812.80 18669 812.80
1996 1 LIGHTING 10/15/07 1617.84 18924 1617.84
2143 1 LIGHTING 11/16/07 5080.00 18993 4775.20
18983 304.80
1349 1 LIGHTING 12/07/07 1347.12 19183 20.30
19168 1326.82
2446 1 LIGHTING 01/31/08 15931.80 19323 15931.80
CrCard 1 LIGHTING 02/06/08 61.40 19494 61.40
2559 1 LIGHTING 02/28/08 13220.60 19387 324.90
19320 763.20
19311 807.50
19303 11325.00
2745 1 LIGHTING 04/30/08 7248.00 19615 7248.00
1881 1 LIGHTING 05/08/08 628.00 19614 628.00
2847 1 LIGHTING 05/08/08 13550.00 19770 183.00
19699 4760.00
19684 8607.00
2956 1 LIGHTING 05/16/08 2975.00 19824 2975.00
3126 1 LIGHTING 06/11/08 21750.00 19880 21750.00
3399 1 LIGHTING 07/14/08 4350.00 20050 4350.00
3728 1 LIGHTING 07/21/08 10058.40 19993 2438.40
19932 7620.00
3546 1 LIGHTING 07/31/08 20041.60 20190 17400.00
20183 2641.60
4131 1 LIGHTING 09/18/08 48641.20 20332 5141.20
20290 43500.00
4297 1 LIGHTING 10/10/08 5225.00 20513 1350.00
20448 3875.00
4514 1 LIGHTING 10/31/08 812.80 20689 812.80
5363 1 LIGHTING 12/31/08 1575.00 20851 1575.00
CrCard 1 LIGHTING 02/27/09 179.00 21560 179.00
5669 1 LIGHTING 02/28/09 5080.00 21198 5080.00
6105 1 LIGHTING 06/10/09 3035.80 21735 2452.80
21702 252.00
21615 331.00
6218 1 LIGHTING 06/26/09 9332.14 21905 6350.00
21807 184.68
21799 99.00
21796 2688.40
21777 10.06
7063 1 LIGHTING 08/30/09 5825.57 22511 207.67
22504 398.70
22441 5219.20
7319 1 LIGHTING 09/24/09 50.50 22599 50.50
101409 1 LIGHTING 10/14/09 14641.60 22865 800.00
22827 5640.00
22775 8201.60
8278 1 LIGHTING 11/23/09 9400.00 23133 9400.00
112509 1 LIGHTING 11/25/09 3760.00 23114 3760.00
112909 1 LIGHTING 11/29/09 10438.40 23413 10438.40
122909 1 LIGHTING 12/29/09 10438.40 OpenCr 10438.40
green, what reason??? Apparently, based on past behavior,
"just because" seems to be as good as any other reason on the table. Your considerations need not be considered.
And FWIW, if you follow the thread, I was responding to someone who pasted the PR they got with the last R/S so please, disabuse yourself of any notion that I am trying to create the impression that another R/S is in the offing.
Bwhahahahaha! My favorite part..." The Company intends that it will no longer trade as a "sub penny stock", this in our opinion, has proven to be of little use nor benefit, to our stockholders. This Reverse Split will be effective prior to the Company trading under its new name and Trading Symbol.
ANd yet here they are again, back to "little use nor benefit"!
You cannot make this stuff up. It's just too GD funny.