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I wanna be excited about the buyback. New shares are a fact, buyback assumes future events, sales. Now we need more time, patience.
Yes I`m long and I`ll get over it.
Can I be disappointed that they announced 375,000,000 new shares?
In your opinion you are making several assumptions, not the least of which is that the dilution is complete and will not affect the 1st qtr. 07. Look at how the stock is reacting, the people on the inside, the MM are selling.
I`ll leave the order open and let you know if it sells but I think were gunna see this stock head south short term.
No, 1mil. at .0015, no one wants it.
It`s just a flip, I wanna keep all my stock.
I new they would need to get more $ from somewhere, I was hoping it would be lender. I take this as bad news with a little something added to lighten it.
I don`t think all those shares are already in the mix. I am trying to dump 1mil. at the bid and it sat for 3 min.,they finaly lowered the bid to .0014 and seem to have little interest in buying shares.
I`m shell shocked.
You`ll wait in vain.
I did the same thing, 675k at .0014 after trying to get it cheaper for 2 days. Confident these are great prices, we own this in the basement.
What was the purpose of that painfully long read?
I appreciate your surmising, I don`t think flippers are a factor at all either. Still feeding that 250mil. into the mix.
Theres only two questions I need an answer to, everything else is in place. Will there be more new shares introduced(diluting) and/or will total amount be reduced(reverse split)?,either action could be devastating short term.
I think what you said was fair and true. Since your new to this board you will soon see some ware rose colored glasses and get real defensive if you say something concerning this penny that isn`t gunna make them rich. I like this stock and believe in it, 5Mil+, but I still like to be reminded about the potential downsides.
Another good post.
Thanks for sharing your thoughts ,I feel about the same.
Good follow-up Super.We really try to stick to the facts on this board monkey, if you`ve got something of substance please post. Alot of us believe this stock is the one in a thousand on the pinksheets.
Posted by: pick em low
In reply to: None Date:12/18/2006 11:15:40 AM
Post #of 844530
Good MM shorting write up someone did.
Here is a great read about MM's, and shorting stock..
There's a rule that the market makers use ... a rule
that only has less than two hundred words in it ...
and that rule allows them to naked short an OTCBB or
Pink Sheet stock into oblivion. It allows them to
literally create, out of thin air, as many shares as
they need, to maintain an orderly market.
"(B) Proprietary short sales
No member shall effect a short sale for its own
account in any security unless the member or person
associated with a member makes an affirmative
determination that the member can borrow the
securities or otherwise provide for delivery of the
securities by the settlement date. This requirement
will not apply to transactions in corporate debt
securities, to bona fide market making transactions by
a member in securities in which it is registered as a
Nasdaq market maker, to bona fide market maker
transactions in non-Nasdaq securities in which the
market maker publishes a two-sided quotation in an
independent quotation medium, or to transactions which
result in fully hedged or arbitraged positions."
This rule allows a market maker to create a share in a
company by simply taking the money from the buyer and
making an electronic entry into their brokers'
account, and the broker then electronically credits
the buyer with one share of that company.
But several things that no one is aware of take place
in this transaction.
1. The buyer thinks that his share actually exists,
but unless he or she has read his account agreement
very carefully, he won't understand that all he did is
give money to someone other than the company and never
got any actual proof of ownership. His certificate,
presumably, is sitting at the DTCC.
2. The market maker filling the order for one share
has the buyer's money, and gave nothing except
electronic acknowledgement of receipt of it ... the
electronic entry in the buyer's account.
One very important thing to understand here, is that
at no point in this process, did the company in which
the buyer 'invested' ever get one single dime of the
money paid by the buyer for that share. There is a
tremendous misconception out there that causes many to
assume that when they buy a share of a company's
stock, the company gets the money.
This is only true if the buyer is buying an IPO, or a
private placement of shares from the company. In any
other sale or purchase of a stock by an investor, the
company does not even see the money.
This is particularly vexing when one begins to
understand what happens in naked shorting situations.
Situations where the provision that allows for naked
shorting to maintain an orderly market is abused.
Understand that whoever is doing the naked shorting is
the one receiving the money. They keep it. For as long
as it is convenient to do so. That is where the abuse
of the rule comes in.
That rule was created to allow for market makers, who
by becoming market makers, agree to 'make a market' in
certain stocks. That means that they will sell you a
share, or buy a share from you, even if there isn't
any available, or there are no other buyers for it.
The Market makers' job is at least partly, to provide
liquidity to the market. In thinly traded securities,
or securities where there is a small public float, the
market makers' ability to naked short is crucial to
the liquidity of the market in that security.
The abuse takes place when the market maker for
whatever reason determines that the market for a
particular security has become "disorderly". Too much
buying pressure, for instance, can cause a price spike
in that security that would have no relationship to
the true book value of the security. The market maker
then determines that he will naked short to fill
orders, knowing that by doing so, the price will not
explode on unusually high demand because he can
literally issue new shares under this rule. The market
maker then waits, with an open naked short position in
that stock, until the buying pressure subsides, and he
can buy enough shares back at lower prices to cover
his naked short position.
The rule does not have any time requirements and that
allows for the market maker to keep a naked short
position open for potentially years. In reality, until
the buying pressure subsides enough for him to buy
back at lower prices however many shares he needs to
fill previously filled orders that make up his naked
short position, it simply stays open, and the money
sits in his account.
Someone is going to ask the question, "So, how big are
all those naked short positions, anyhow?"
There is another provision that says that the market
makers do not have to publish their open naked short
positions. Never. At all. All OTCBB and Pink Sheet
securities can be naked shorted - indefinitely - by
market makers under this rule, and there is no way
that an investor can discover if there is an open
naked short position in a stock he may be interested
in, or even how big that short position is.
So far, the SEC does not see a strong need to correct
this situation, either.
Think about it. There are unlimited amounts of shares
that were never authorized or issued by a company made
available to the unsuspecting investor. They are
authorized and issued by the market makers under this
rule, and the company never gets any money from the
sale of shares created under this rule.
The temptation to abuse this rule is irresistable.
Just do the math. A million naked shorted shares sold
by a market maker at 0.01 (one cent) is $10,000 that
the market maker keeps in his account, and that the
company does not get. At 0.10 (ten cents) the market
maker gets to keep $100,000. Now, that is for each
million shares that the market maker creates.
Under this rule, if a company and/or a group of
shareholders begin to suspect a short position exists
in their security, they can not discover this from any
published source. The price of the stock remains
constant, or goes down, even though there is unusually
heavy buying ... buying that goes on for years in some
cases.
The company thinks that there is someone illegally
shorting their stock in an attempt to ruin the
company. The shareholders think that the company is
illegally printing shares behind their backs and is
scaming them. Eventually, this distrust between the
company and it's shareholders becomes so great that
investors start selling, or the company, already
damaged by a supressed share price, is forced to issue
additional shares into the market because other
collateral-backed loans can not be made with share
prices so suppressed.
This is what the market maker is waiting for ...
sometimes for as long as years. In both cases, the
market maker eventually gets his naked short position
covered, and all it cost was the company's reputation,
the shareholders' money, and the SEC's full
cooperation by allowing this abuse of the rule.
There is a third situation that the market makers
naked short into ... a stock that is a likely prospect
for failure. In that case, they just continue naked
shorting no matter what, keeping the price suppressed,
and eventually the company files for bankruptcy, and
... the company goes out of business, the shareholders
lose their investment ... and the market maker keeps
the proceeds of his continued naked shorting.
A good question for the SEC would be, "Seeing as how
the companies that failed never got the proceeds of
the sale of stock over and above their issued and
outstanding, but the market makers did, isn't the SEC
allowing actual fraud to take place, and condoning it
by the creation and continued existance of this rule?"
Like it or not, the SEC has allowed securities fraud
to run rampant in the OTCBB and Pink sheet stock
markets by simply looking the other way and allowing
the market makers to target the OTCBB and Pink sheet
markets as a source of huge amounts of cash, literally
stolen from investors by the third party creation of
shares by an entity other than the the issure - the
company.
This rule is nothing less than blanket permission by
the SEC for market makers to become the issuers of
company stock, no matter what the company's official
authorized and issued amounts are.
And that, my friends and fellow investors, is
securities fraud on a scale almost beyond
comprehension.
Isn't capitalism great.
Posted by: pick em low
In reply to: None Date:12/18/2006 11:15:40 AM
Post #of 844530
Good MM shorting write up someone did.
Here is a great read about MM's, and shorting stock..
There's a rule that the market makers use ... a rule
that only has less than two hundred words in it ...
and that rule allows them to naked short an OTCBB or
Pink Sheet stock into oblivion. It allows them to
literally create, out of thin air, as many shares as
they need, to maintain an orderly market.
"(B) Proprietary short sales
No member shall effect a short sale for its own
account in any security unless the member or person
associated with a member makes an affirmative
determination that the member can borrow the
securities or otherwise provide for delivery of the
securities by the settlement date. This requirement
will not apply to transactions in corporate debt
securities, to bona fide market making transactions by
a member in securities in which it is registered as a
Nasdaq market maker, to bona fide market maker
transactions in non-Nasdaq securities in which the
market maker publishes a two-sided quotation in an
independent quotation medium, or to transactions which
result in fully hedged or arbitraged positions."
This rule allows a market maker to create a share in a
company by simply taking the money from the buyer and
making an electronic entry into their brokers'
account, and the broker then electronically credits
the buyer with one share of that company.
But several things that no one is aware of take place
in this transaction.
1. The buyer thinks that his share actually exists,
but unless he or she has read his account agreement
very carefully, he won't understand that all he did is
give money to someone other than the company and never
got any actual proof of ownership. His certificate,
presumably, is sitting at the DTCC.
2. The market maker filling the order for one share
has the buyer's money, and gave nothing except
electronic acknowledgement of receipt of it ... the
electronic entry in the buyer's account.
One very important thing to understand here, is that
at no point in this process, did the company in which
the buyer 'invested' ever get one single dime of the
money paid by the buyer for that share. There is a
tremendous misconception out there that causes many to
assume that when they buy a share of a company's
stock, the company gets the money.
This is only true if the buyer is buying an IPO, or a
private placement of shares from the company. In any
other sale or purchase of a stock by an investor, the
company does not even see the money.
This is particularly vexing when one begins to
understand what happens in naked shorting situations.
Situations where the provision that allows for naked
shorting to maintain an orderly market is abused.
Understand that whoever is doing the naked shorting is
the one receiving the money. They keep it. For as long
as it is convenient to do so. That is where the abuse
of the rule comes in.
That rule was created to allow for market makers, who
by becoming market makers, agree to 'make a market' in
certain stocks. That means that they will sell you a
share, or buy a share from you, even if there isn't
any available, or there are no other buyers for it.
The Market makers' job is at least partly, to provide
liquidity to the market. In thinly traded securities,
or securities where there is a small public float, the
market makers' ability to naked short is crucial to
the liquidity of the market in that security.
The abuse takes place when the market maker for
whatever reason determines that the market for a
particular security has become "disorderly". Too much
buying pressure, for instance, can cause a price spike
in that security that would have no relationship to
the true book value of the security. The market maker
then determines that he will naked short to fill
orders, knowing that by doing so, the price will not
explode on unusually high demand because he can
literally issue new shares under this rule. The market
maker then waits, with an open naked short position in
that stock, until the buying pressure subsides, and he
can buy enough shares back at lower prices to cover
his naked short position.
The rule does not have any time requirements and that
allows for the market maker to keep a naked short
position open for potentially years. In reality, until
the buying pressure subsides enough for him to buy
back at lower prices however many shares he needs to
fill previously filled orders that make up his naked
short position, it simply stays open, and the money
sits in his account.
Someone is going to ask the question, "So, how big are
all those naked short positions, anyhow?"
There is another provision that says that the market
makers do not have to publish their open naked short
positions. Never. At all. All OTCBB and Pink Sheet
securities can be naked shorted - indefinitely - by
market makers under this rule, and there is no way
that an investor can discover if there is an open
naked short position in a stock he may be interested
in, or even how big that short position is.
So far, the SEC does not see a strong need to correct
this situation, either.
Think about it. There are unlimited amounts of shares
that were never authorized or issued by a company made
available to the unsuspecting investor. They are
authorized and issued by the market makers under this
rule, and the company never gets any money from the
sale of shares created under this rule.
The temptation to abuse this rule is irresistable.
Just do the math. A million naked shorted shares sold
by a market maker at 0.01 (one cent) is $10,000 that
the market maker keeps in his account, and that the
company does not get. At 0.10 (ten cents) the market
maker gets to keep $100,000. Now, that is for each
million shares that the market maker creates.
Under this rule, if a company and/or a group of
shareholders begin to suspect a short position exists
in their security, they can not discover this from any
published source. The price of the stock remains
constant, or goes down, even though there is unusually
heavy buying ... buying that goes on for years in some
cases.
The company thinks that there is someone illegally
shorting their stock in an attempt to ruin the
company. The shareholders think that the company is
illegally printing shares behind their backs and is
scaming them. Eventually, this distrust between the
company and it's shareholders becomes so great that
investors start selling, or the company, already
damaged by a supressed share price, is forced to issue
additional shares into the market because other
collateral-backed loans can not be made with share
prices so suppressed.
This is what the market maker is waiting for ...
sometimes for as long as years. In both cases, the
market maker eventually gets his naked short position
covered, and all it cost was the company's reputation,
the shareholders' money, and the SEC's full
cooperation by allowing this abuse of the rule.
There is a third situation that the market makers
naked short into ... a stock that is a likely prospect
for failure. In that case, they just continue naked
shorting no matter what, keeping the price suppressed,
and eventually the company files for bankruptcy, and
... the company goes out of business, the shareholders
lose their investment ... and the market maker keeps
the proceeds of his continued naked shorting.
A good question for the SEC would be, "Seeing as how
the companies that failed never got the proceeds of
the sale of stock over and above their issued and
outstanding, but the market makers did, isn't the SEC
allowing actual fraud to take place, and condoning it
by the creation and continued existance of this rule?"
Like it or not, the SEC has allowed securities fraud
to run rampant in the OTCBB and Pink sheet stock
markets by simply looking the other way and allowing
the market makers to target the OTCBB and Pink sheet
markets as a source of huge amounts of cash, literally
stolen from investors by the third party creation of
shares by an entity other than the the issure - the
company.
This rule is nothing less than blanket permission by
the SEC for market makers to become the issuers of
company stock, no matter what the company's official
authorized and issued amounts are.
And that, my friends and fellow investors, is
securities fraud on a scale almost beyond
comprehension.
Isn't capitalism great.
New moderator.
Why do you think opening day of MLB will be important?
Thankyou,ladies.
Good to have ya, some good ideas. I`m carefull about giving stock advice to family and friends, especially a penny, but with this I can barely keep it to myself and I have told a few. I realy believe this is gunna go and for a long time.
Good to have ya, some good ideas. I`m carefull about giving stock advice to family and friends, especially a penny, but with this I can barely keep it to myself and I have told a few. I realy believe this is gunna go and for a long time.
Good post,thankyou.
Ever thought about it?, I think its all our worst fear.
Good post.
Your not allowed to talk about how were getting screwwed,they call you a basher.
18,098,180 shares, wow. The biggest single transaction I have ever witnessed.
I`m not worried about lightning strikes anymore,I have peace with God, and I think this is a perfectly honorable profession or I wouldn`t be involved in it. Now lets get back to the purpose of this board and discuss the business of ETIM.
I believe theres 10`s of millions of shares standing by for sale and the best prices are yet to come.
I don`t appreciate your personal attacks on anyone on this board. This should be a place of shared opinions and ideas among other things, please stop taking things so personal.
I agree, where I come from what they did is called lying. I`m not selling either, who would at these prices? I still believe in the company, but that doesn`t mean I can`t be disappointed at the suprise 250,000,000 new shares.
I remember specificaly reading several posts that stated in no uncertain terms that the company would NOT increase the total amount of shares. With over 16,000 posts I just don`t care to spend the time looking for a quote that I assumed was common knowledge. Therefore,those of you who never read a quote stating there would be no increase in the share structure ,please disreguard my post.
I know your new in town, however I`m afraid that statement is not in dispute.
250,000,000 more! after a promise of "there will be no increase in the number of shares..." MAJOR fundimental setback for this stock.
250,000,000 more! after a promise of "there will be no increase in the number of shares..." MAJOR fundimental setback for this stock.
Thankyou, I`ve enjoyed yours also burnshorty.