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NEW YORK--(BUSINESS WIRE)--Nov. 14, 2012-- Ambac Financial Group, Inc. (“Ambac”) today announced a third quarter 2012 net profit of $157.5 million, or a net profit of $0.52 per share. This compares to a third quarter 2011 net loss of $75.5 million, or a net loss of $0.25 per share. Relative to third quarter 2011, third quarter 2012 results were primarily driven by lower derivative product losses, a positive net change in the fair value of credit derivatives, a lower provision for income taxes, and lower operating and interest expenses, partially offset by lower income on variable interest entities (“VIE”) and higher loss and loss expenses.
Would like to trade at half fair market value for starters!
$123k exchanged hands the past 2 trading days and Ambac to Reopen New York City Headquarters: Some info on the past few filings. I hope this can break .05 again!
Definition of 'Form 3'
A document that must be filed with the Securities and Exchange Commission (SEC) by an insider affiliated with a public company's operation or by any investor owning 10% or more of the company's outstanding share
Read more: http://www.investopedia.com/terms/f/form3.asp#ixzz2D12xeLMK
Form 3 AMBAC FINANCIAL GROUP For: Nov 06 Filed by: BARRANCO DAVID (10K)
Tuesday, November 20, 2012
4:13 PM Form 3 AMBAC FINANCIAL GROUP For: Nov 06 Filed by: MATANLE CATHLEEN (10K)
4:04 PM Form 3 AMBAC FINANCIAL GROUP For: Nov 06 Filed by: BRUCE IAIN H (10K)
11:45 AM Ambac to Reopen New York City Headquarters (BIZ)
Things are starting to get interesting. Spike in volume, ACCUM is up in a major and lots of filings the past few days. Hope they think they can make a move while no one is looking going into the holiday weekend!
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
As of November 1, 2012, we had 2,038,765,222 shares of Common Stock issued and outstanding. The following table sets forth information regarding beneficial ownership of our stock for: (i) each of our executive officers and directors; (ii) each stockholder known by us to be the beneficial owner of more than 5% of the outstanding shares of each class of our Common Stock; and (iii) all of our directors and executive officers as a group:
Name and Address of
Beneficial Owner(s)
Amount and Nature of
Beneficial Owner(s) (1)
Number of Shares Owned
Percentage of Ownership
Robert Landau
635,970,081
31.2%
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Mitchell Geisler
342,884,224
16.8%
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All officers and directors as a group (two persons)
978,849,305
====>48%<====
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
As of November 1, 2012, we had 2,038,765,222 shares of Common Stock issued and outstanding. The following table sets forth information regarding beneficial ownership of our stock for: (i) each of our executive officers and directors; (ii) each stockholder known by us to be the beneficial owner of more than 5% of the outstanding shares of each class of our Common Stock; and (iii) all of our directors and executive officers as a group:
Name and Address of
Beneficial Owner(s)
Amount and Nature of
Beneficial Owner(s) (1)
Number of Shares Owned
Percentage of Ownership
Robert Landau
635,970,081
31.2%
----------------------------------------
Mitchell Geisler
342,884,224
16.8%
---------------------------------------
All officers and directors as a group (two persons)
978,849,305
48%
PCFG.otcqb ~ Gold play, chart setting up to make a move on the 200 daySMA. Coming off of a divy announcement and churning at past highs.
Insiders holding a truck full with 48% insider ownership! (See Oct 26 SEC filings)
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SC 13D/A Oct 26, 2012 25.9 KB [PDF] PDF
SC 13D/A Oct 26, 2012 27.4 KB [PDF] PDF
http://www.otcmarkets.com/stock/PCFG/filings
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PCFG.otcqb ~ Gold play, chart setting up to make a move on the 200 daySMA. Coming off of a divy announcement and churning at past highs.
Insiders holding a truck full with 48% insider ownership! (See Oct 26 SEC filings)
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SC 13D/A Oct 26, 2012 25.9 KB [PDF] PDF
SC 13D/A Oct 26, 2012 27.4 KB [PDF] PDF
http://www.otcmarkets.com/stock/PCFG/filings
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PCFG - (2012/11/07)- Trading BreakDown - Short Numbers
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Short Sales
Date Short Interest % Change Avg. Daily Share Volume Days to Cover Split New Issue
Oct 15, 2012 1,335,329 100.00 18,948,054 1.00 No No
Sept 14, 2012 0 -100.00 26,330,980 0.00 No No
http://www.otcmarkets.com/stock/PCFG/short-sales
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PCFG ~ Lots more 2 come. We are only getting started!
Eying .01
Note: VERT is widely recognized by investors as a market maker who abuses their market making obligations and manipulates stock prices for profit. They are the firm the less than reputable clients trade through when they want a “job done” and this enforcement case, despite the paltry fine, illustrates their willingness to avoid the rules.
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The Vertical Trading Group, LLC ( CRD #104353, NewYork, NewYork) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $25,000 and required to revise its written supervisory procedures regarding the One Percent Rule; the dissemination of quotations to vendors; monthly order execution information; SEC Regulation SHO’s locate requirements; the acceptance of short sale orders for threshold securities; maintaining identical quotes; market order protection; best execution for block orders, not held orders and orders with special pricing terms or conditions; reporting the capacity in which trades are executed; ensuring the accuracy of trades reported on the member’s behalf; the tick test; and books and records. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to properly identify orders as short sale orders and, therefore, failed to report to the NNTRF the correct symbol indicating whether transactions were buy, sell, sell short, sell short exempt or cross for transactions in reportable securities, and to properly mark the orders as short. The findings stated that the firm’s supervisory system did not provide for supervision reasonably designed to achieve compliance with applicable laws, regulations and FINRA rules concerning the One Percent Rule; the dissemination of quotations to vendors; monthly order execution information; Regulation SHO’s locate requirements; the acceptance of short sale orders for threshold securities; maintaining identical quotes; market order protection; best execution for block orders, not held orders and orders with special pricing terms or conditions; reporting the capacity in which trades are executed; ensuring the accuracy of trades reported on the member’s behalf; the tick test; and books and records. The findings also stated that the firm failed to produce documentation that it enforced its written supervisory procedures concerning the marking of order tickets and locate requirements. The findings also included that the firm failed to report the correct symbol to the NNTRF or OTCRF indicating whether the firm executed transactions in reportable securities in a principal, “riskless” principal or agency capacity. (FINRA Case #2006004088101)
http://www.sec.gov/comments/s7-08-09/s70809-3684.pdf
http://vertgrp.com/
Trading Breakdown PCFG (2012/09/25)
CLICK 4 CHART
Nov. sounds perfect...No News, Let the PP$ correct itself before hitt'n us with anything, 2 find thA true value.
<PCFG:otcQB> As of September 12, 2012, the Company had outstanding 1,090,501,728 shares of its common stock
As of September 12, 2012 the aggregate market value of the voting stock held by non-affiliates was approximately $2,726,254.32.
=======Filing from today======
Item 3.02 – Unregistered Sales of Equity Securities
On September 14th, 2012, a holder of $75,000 in principal amount of debt issued by Pacific Gold Corp. (“Company”) transferred the obligation to a third party. In connection with the transfer, the Company agreed to modify the rate of conversion of principal and interest into shares of common stock to a formula based on the market value of a share of common stock, from time to time. The investor has converted a portion of the debt obligation into 45,256,410 shares of common stock on a restricted issuance basis, which has been sold by the third party investor under Rule 144. The company anticipates that an additional 12,500,000 shares will be issued on conversion of the balance of the debt obligation, based on the current market prices and the conversion formula of the obligation.
Additionally, the Company issued to the third party investor a new $75,000 convertible note on September 14, 2012, of which the shares underliying such note will become eligible for market sales under Rule 144 on March 14, 2013.
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Per EDGAR and the ammendended 10 K/A it now shows as of Sept 12, 2012
Document and Entity Information (USD $)
12 Months Ended
Dec. 31, 2011 Sep. 12, 2012
Document and Entity Information
Entity Registrant Name PACIFIC GOLD CORP
Document Type 10-K
Document Period End Date Dec. 31, 2011
Amendment Flag true
Entity Central Index Key 0001137855
Current Fiscal Year End Date --12-31
Entity Common Stock, Shares Outstanding 1,090,501,728
Entity Public Float $ 2,726,254
Entity Filer Category Smaller Reporting Company
Entity Current Reporting Status Yes
Entity Voluntary Filers No
Entity Well-known Seasoned Issuer No
Document Fiscal Year Focus 2011
Document Fiscal Period Focus FY
Amendment Description Amendment number 1
http://www.sec.gov/cgi-bin/viewer?action=view&cik=1137855&accession_number=0001515971-12-000318&xbrl_type=v
Liquidity and Capital Resources:
Since inception to December 31, 2011, we have funded our operations from the sale of securities, issuance of debt and loans from a shareholder.
As of December 31, 2011, our assets totaled $1,821,184, which consisted primarily of mineral rights, land and water rights, and related equipment. Our total liabilities were $4,704,767 which primarily consisted of note payable to a shareholder of $1,223,031, accounts payable and accrued expenses of $1,435,263, notes payable to related parties of $414,606, and promissory notes of $1,244,900. We had an accumulated deficit of $27,185,182 and a working capital deficit of $2,951,205 at December 31, 2011.
On December 2, 2011 $1,000,000 in principal and $91,711 in accrued interest of an unsecured loan from a company owned by the Chief Executive Officer was gifted to a non-affiliate debt holder. Subsequently, $500,000 of the debt was sold to an investor and additional proceeds of $500,000 were loaned by the non-affiliate to the Company.
At December 31, 2011, the balance of the note from a shareholder was $1,331,552 including accrued interest. The note bears interest at the rate of 10% and due on January 2, 2013.
At December 31, 2011, the balance of the note from the non-affiliate was $1,101,903 including accrued interest. The note bears interest at the rate of 12% and due on December 2, 2012. The note and any interest due are convertible into common shares of the Company at a price of $0.02 per share at any time upon demand of the debt holder.
During December 2011, the Company issued 15,590,954 shares of common stock on conversion of a portion of the $500,000 note sold to an investor, in exchange for retiring $140,000 worth of principal. At December 31, 2011, the balance of the note was $135,302 including interest, net of discount. The note is convertible into common shares of the company at a conversion rate of a 45% discount to the daily VWAP price of the common stock based on a five day period prior to the date of conversion, which rate will be subject to certain adjustments. The note bears interest at the rate of 12%, and due on December 2, 2012. The principal if fully converted represents the potential issuance of 50,000,000 shares, limited to a maximum conversion right at any one time to 4.99% of the then outstanding shares of common stock of the company.
As of September 12, 2012..stock held by non-affiliates was approximately $2,726,254.32.
As of September 12, 2012, the Company had outstanding 1,090,501,728 shares of its common stock, par value $0.001.
Short selling and OTC derivatives policy options
A different issue is the misuse of short selling (naked or covered) to manipulate markets (for instance by combining short-selling with spreading of negative rumours or manipulative operations in the cash market). This has to be dealt with by regulators through the application of market abuse rules with proper investigation and sanctions. The question which is left is whether supervisors have all the necessary tools for that. In my view, the answer to this question is not positive, so far.
http://www.voxeu.org/article/shining-light-short-selling-and-over-counter-derivatives
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Results
Our audit disclosed that despite the tremendous amount of attention the practice of naked short selling has generated in recent years, Enforcement has brought very few enforcement actions based on conduct involving abusive or manipulative naked short selling. We also found that Enforcement generally received complaints, including naked short selling complaints, by one of three methods:
1.
E-mail complaints received by the Enforcement Complaint Center (ECC) within the Office of Internet Enforcement (OIE);
2.
Complaints, Tips and Referrals (CTR) that are received by Headquarters or Regional Office Enforcement staff outside of normal complaints channels (i.e., the ECC); and
3.
Referral of complaints to Enforcement’s Office of Market Surveillance (OMS) by SROs, such as the Financial Industry Regulatory Authority (FINRA).5
However, during the period of our review we found that few naked short selling complaints were forwarded to Headquarters or Regional Office Enforcement staff for further investigation. Of approximately 5,000 naked short selling complaints received in the ECC between January 1, 2007 and June 1, 2008, only 123 (approximately 2.5 percent) were forwarded for further investigation. Moreover, we found that these complaints were forwarded only because the complaint subjects were involved in ongoing Enforcement investigations. None of the forwarded complaints resulted in enforcement actions, though one of the complaints referenced a pending enforcement action involving naked short selling. Furthermore, only six of the approximately 1,900 complaints entered into Enforcement’s CTR database during the period we examined, alleged naked short selling. Based on the data available to us, these complaints led to no enforcement actions.6 Also, we were informed that none of the approximately 900 SRO referrals received by OMS between January 1, 2007 and June 1, 2008 involved naked short selling.
Our audit determined that Enforcement’s existing complaint receipt and processing procedures hinder Enforcement’s ability to respond effectively to naked short selling complaints and referrals. We found that the ECC’s written
http://www.sec-oig.gov/reports/AuditsInspections/2009/450.pdf
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FINRA Rule 4560 (formerly NASD Rule 3360) requires FINRA member firms to report their short positions on all over-the-counter (“OTC”) equity securities to FINRA. Once the short position reports are received, the short interest is then compiled for each OTC security.
Effective September 7, 2007, then NASD Rule 3360 was changed to require firms to increase the frequency of short interest reporting from monthly to semi-monthly cycles. Please refer to the Short Interest Reporting Deadlines for the current reporting schedule.
The mid-month short interest report is based on short positions held by members on the settlement date of the 15th of each month. If the 15th falls on a weekend or another non-settlement date, the designated settlement date will be the previous business day on which transactions settled. The end-of-month short interest report is based on short positions held on the last business day of the month on which transactions settle. The reports must be filed by the second business day after the reporting settlement date. The short interest data is compiled and provided for publication on the 8th business day after the reporting settlement date.
Pricing and publication restrictions are under consideration.
http://www.otcbb.com/asp/otce_short_interest.asp
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SHORT SELLING BREAKDOWN on PCFG.
PCFG ~ Please click back for some DD. Double Bottom on the chart and comes out mak'n some moves!
PCFG - Up 20% since the alert! Lots more to come......Viewers Click back to my posts for some DD.
Thanks for sharing BUT its time for many of you to move on. I see board marks up, INTEREST is defiantly brewing. Chattr ALWAYS good thing.
Now we just have to get these guys trying to shake loose peoples shares to move on with their lives and not dwell on the past BUT they wont. Change of heart once they have enough shares are decide the company is GREAT again.
Tomorrow and Thursday should give us LONGS confirmation seller is exhausted.
1 more look at this DOUBLE BOTTOM:
Anyone notice MACD. 1 of the KEY indicators and non fancy shamancy BS. Its bottom and rounding up. Time to BUY and HOLD while the PP$ corrects itself.
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