Get in early, get out early. Take profits
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The company has 300,000,000 million authorized shares and 67,758,866 outstanding, according to the 10Q of 01/20/09. If you needed money and couldn't borrow it, how would you get it? The outstanding shares listed in their next 10Q, showing the period ending 02/28/09, may show if the company has sold shares into the market. What's happened after that date won't show until the July filing.
I went to www.who.is to get info and I'd rather not get into what I found there because I believe the information is open to interpretation. Too much technical information about servers, IP addresses and such that I don't understand.
No I haven't. I was hoping someone already had. Give me a few minutes and I'll check it.
Still listed at Nevada as 550,000,000.
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=Sa%252f8rFAxKdRmtsIF8NBLRQ%253d%253d
Has anybody gone to "whois" to see who owns the sites?
The ibox at the TOFS board still shows 500,000,000 A/S. I wonder if anyone there knows?
A correction on PRMO: Current authorized is 10,500,000,000
I'm not sure. He may have had his hands full with CMLT lately. I think this is just on the back burner and will run with some news. He owns over 690,000,000 of this (44%).
If they are incorporated in Florida you can get information at www.sunbiz.org
Gail, they went from 500,000,000 authorized to 100,000,000,000 authorized in December. That's right, 100 billion A/S. Anything can run, though.
This is a great explanation of what happens:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36456160
Don't forget that if there are restricted shares involved, they can't be sold to the public unless the company is fully reporting. From SEC rule 144:
Adequate Current Information. There must be adequate current information about the issuer of the securities before the sale can be made. This generally means that the issuer has complied with the periodic reporting requirements of the Exchange Act.
I forgot to include one of my earlier posts. I think the "t" trades Thursday were below .0001.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36769654
There were 53,000,000 in "t" trades Thursday, and they were "flipped" Friday. I think that accounts for a lot of the volume on the two days.
That's why I put it on watch when it spiked on news but waited. All it has to do is run on news again and I'll be happy.
Even though they increased the A/S in January I still like IMGW. Just waiting for news and hoping it runs a little like it did in Feb.
I'm sorry if you misinterpreted my post. It said they are looking to reverse the O/S but not the A/S. So after the reverse there will be 1,290,000,000 A/S and 64,500,000 O/S. I'm not in this one; I saw the news and posted it.
It's getting to be common practice these days. I guess with the inabilty to get financing it's a potential way for a company to get money. I say potential because there's no guarantee they will sell treasury stock to get needed cash. They would have the option to do so, however.
They put out a pre14-A after hours today. They want to do a 1 for 20 reverse split on the outstanding, but not the authorized. From the filing:
If the shareholders elect to implement the reverse stock split, each
issued and outstanding share of Common Stock would automatically be changed into
a fraction of a share of Common Stock in accordance with the ratio of 1 for 20.
The par value of the Common Stock would remain unchanged at $0.001 per share,
and the number of authorized shares of Common Stock would remain unchanged.
It's what happens down here, good or bad. Have a great weekend.
Another good week... Thanks, and enjoy.
Yesterday there were 53,400,000 in "t" trades after the close. In my opinion these are usually the company selling shares. They do not have to be traded at .0001. The mms can turn them around the next morning at .0001 and make a little money. I've seen it often.
It's probably just the mm's flipping yesterday's "T" trades.
It's a great board Gail. Wait until a few of these take off and we'll have some real fun here. I was going to mention a few but I don't want to sound like I'm touting.
Yes it was a joke, except the part about SKYF.
That's a great video. Keep your eyes open in the am, you might be able to flip SKYF early. I hope this doesn't get deleted - you said yesterday you were going to ban me for a few days.
I'm not in this; I saw the filing with no mention of it on the board so I thought I'd post it. The filing came out after hours.
From today's 8K filing:
This Current Report on Form 8-K is filed by Golden Dragon Holdings, Inc. f/k/a Diamond Powersports, Inc., a Florida corporation (the “Registrant” or the "Company"), in connection with the items set forth below.
ITEM 5.03 AMENDMENTS TO ARTICLES OF INCORPORATION
On or about February 20, 2009, the Registrant amended its Articles of Incorporation ("Amended Articles") to increase the number of authorized common share from 200 million to 3 billion. The Registrant received authorization from its majority shareholder and its Board of Directors. The Amended Articles are hereby attached as Exhibit 3.1
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
The Registrant currently has 165,537,209 issued and outstanding shares of common stock that trade on the "Pinksheets - Other OTC" quotation market under the symbol "GDHI".
It is what it is and part of the game here. It wouldn't surprise me if they "flipped" 50 million or so at .0001 and even .0002 early tomorrow. You never know. Never buy a .0001 without understanding that, yes, you can lose all your money. Being patient makes up for it in some cases and one good run will ease your pain but hopefully not let let you forget what can happen.
The company can dilute to the mms at whatever price mms are willing to pay. MMs then can sell to me tomorrow at .0001.
Not always. There's 140,473,999 in share volume and $13,487 in dollar volume meaning some trades were below .0001.
My take: There were a lot of people who got into this in the high .002's and low .003's on the news and hype. Since nothing has happened pricewise with the follow up pr's they are exiting. If you are disciplined enough to stop yourself out of pinks at say, 20-33% loss, and you bought at .0027-.0033 you're gone now. Plus people looking at it who saw the spike on the early news and haven't seen any upward movement on the later news aren't going to buy in
I'm in this because of the chart. It ran on news and will again, emails or not.
You too... Thanks
Thanks for sharing that.
They aren't the only company involved in the meeting and the release doesn't say "for ECCI's financial statements." They may have financials. They are a pink. They don't have to tell us. Just trying to think positive...
Have a great time Tiki!
ONCP went to OFON at .0001 then did a 175-1 reverse split to ONCP .0175. It hasn't had much fun since then. I believe the ownership is linked with SPZI.