is...retired
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I wish you guys would stop regurgitating old news, old slogans, etc. What a waste of bandwidth!!! and my time!!!
Etrade doesn't stop you from buying NSAV...nor other brokers. Brokers have different rules. If you can't buy NSAV and want to, get a broker that lets you do what you want.
MM's have nothing to do with it. They get their spread no matter which way the stock trends. It is buyers and sellers that affect the price the most...
Not even close - the SS will not support a $1 price. That would make it over a billion dollar company, which it is not, nor will it be with the current SS...
Blue sky dreams...
Quarterlies are never audited - only annuals. It costs a lot of money to audit an annual, somewhere around $25K...
You should ask them. Simple phone call. However, some brokerages won't trade delinquent stocks...
A PR is a PRESS RELEASE. It is NEWS. A tweet is a tweet...a tiny bit of information not worthy of the press.
It's not what might be in the future that is important - it is what has been done. Which isn't much.
Waiting until the last moment to file is dicey to start with. It is not unusual for there to be questions to clear up. There are 10,000+ companies in the OTC, so it makes sense to be a few days early to head off such problems. I do appreciate being notified, but I'm disappointed that they waited to the last moment, then had a glitch...
I've been in public companies, and there is really no good reason to not comply with the rules, on time.
Fortunately, since the 15th fell on Saturday, the due date is the first business day after...so they might still be legally on time, if everything is done by Monday.
Yes, filing deadlines are in calendar days, but extensions are 5 business days. I have looked it up before, but not searching it out again...
Filing deadlines are the only things that are calendar days, as far as I am aware - everything else is business days, such as when an 8K must be filed, etc.
The extension gives 5 business days, not 5 calendar days...
I was riding US Navy submarines in 1963...class of 62...
No, no one on a brokerage is a shareholder of record. Shareholders of record are those that own shares directly from the company, such as insiders, lenders, and those that purchase in private placements.
If you place your orders through a brokerage, you are not a shareholder of record...
Ridiculous. Etrade doesn't actually buy and sell stock to start with. And MM's don't even LOOK at these tickers - it is a high speed, fully automated trading system that processes billions of shares per day. There is no dude in a tinfoil hat trying to eke out beer money on stinky pinkies!!
Good grief, get a hold on reality! Or, at least learn how MM's actually work...they don't care WHAT ANY ticker does - they get their spread and that's all, both on selling and buying. So, they make money whatever the stock does. The LAST thing they would do is manipulate a stock's price...It's not still 2001, you know...
OH, come on! That is years ago, and they no longer HAVE an MM unit, so they neither buy nor sell shares. They are a brokerage, not a dealer. Good God, folks, do at least a LITTLE due diligence.
If anyone REALLY thinks etrade is shorting stinky pinkies, you need some professional help, badly!!
ETRF
G1 Execution Services LLC, was formerly the market making unit of E*Trade Financial Corporation. The firm was sold to Susquehanna International in 2013. The firm specializes in market making on all exchanges and facilitating trades for retail customers.
Etrade is not a market maker. They sold their MM division years ago.
All brokerages have rules, generally to protect their clients. VRUS has triggered one of those rules, but no one is sure which one. My guess is that they are selling unregistered shares, which they have FILED and SAID they were selling unregistered shares, which, although legal, is a shady practice.
It is easy to find out what causes brokerages to block online trading, but it is not easy to know which one has triggered, generally.
Google is your friend - go look up the reasons and figure out what has caused this issue.
Etrade does not buy and sell shares, since it is a broker. That would be illegal, and is why etrade sends all our buys and sells to MM's.
MM's are broker dealers, and are the only ones that actually short penny stocks, but that's how they do business in the first place. MM's are not allowed to buy for themselves, they must be fulfilling an order in order to short the stock, and their gain is their spread between ask and sell - nothing more.
So, again, no one is shorting penny stocks, except momentarily by MM's.
Thanks for posting the short information.
The simple statement is that no one shorts penny stocks, period. First, it is economically not viable. But more importantly, your broker won't even LET you short penny stocks. Don't believe me? Try it.
Most people don't even short any more. They use puts.
This whole conversation about shorting in penny stocks is not only meaningless, it is virtually impossible. Again, if you don't believe me, TRY IT. Oh, and of course your money will have to be in a margin account, not a cash account. But that doesn't even matter - they won't short a penny stock.
Do you even understand what short volume means? Better look it up...has nothing to do with shorting stock...
That has nothing to do with traders shorting the stock. Besides, who would short a stock that is in the process of taking off, even if they COULD?
The short interest is that of mm's who DO short when necessary to fill orders. Nothing more than that. They usually cover within microseconds. The short interest shows those that did not cover by the end of the day.
I have read the filings. The RS IS approved. No CEO will ever say it is planned until it is announced. It is there for a reason, and the reason is that billions of more shares could be issued to pay off the $2+ million in loans. It remains to be seen if they are making enough money to pay the loans back this year.
The dividend was released almost 2 years ago. Just waiting for the restriction to be lifted, which will be performed by the TA...when it's time.
You better read their filings. An RS is already approved...
You need to read more of the filings. This year alone, over $2,000,000 has been borrowed, backed by shares that caused the AS to balloon to 7.5 billion. Those loans are due and payable before the end of this year, or they will be paid with shares. CAN YOU SAY DILUTION???
There will be no share repurchases while this scimitar hangs above their heads. Any profit goes to pay down these loans, not buy company shares on the open market.
The hope is that they can actually make enough profit to pay these loans, but there is a reason that an RS is already approved, up to 400 for 1...the OS cannot balloon up to multiple billions and still have a hope of any kind of uplist. And don't forget, that RS if it happens will severely reduce the number of shares you own, and while the share price will reflect that immediately, these thing seldom hold their new share price after the split. I immediately exit any stock that announces a reverse split, then wait until the smoke clears, and then, if warranted, I buy back in - that happens about 1 in 10 times...
Market cap has nothing to do with revenue. It is purely OS X Share price. The share price is what people are willing to pay for the stock. OS is all shares, not float.
ASCM is doing what every MM does - guaranteeing a price at which they will buy or sell for traders. That is how they function...
Verus has been selling unregistered shares. That alone might be the reason for the restriction. They also publicizes an S1 that took 2 months to appear. That has now been satisfied, as they finally registered those shares. That should drop the restriction...
Riiiggghhht...Etrade is neither a trader nor an MM...they don't buy or sell shares - they hand your buys/sells off to MM's. So, no, Etrade isn't 'doing' anything to VRUS...
They won't be buying back shares while there is a $2,000,000 debt that will be paid with shares if not paid back with cash later this year. You don't buy your own shares while facing a huge dilution.
To buy back shares, there will have to be profit over and above paying the debt back.
And, of course, there would have to be an 8K filing identifying just how many shares were planned to be bought back, the schedule, and several other things that are mandatory by the SEC.
And lets not forget that they have been selling unregistered shares as well, which is probably what the holdup is with Etrade.
total bs...the OTC is all automated. It's fast. MM's don't even SEE these trades, let alone signal each other. FORGET that stupid signaling bs...
Trades have small numbers because MM's get a cut out of buys and sells, which leaves large numbers of shares along with small numbers from a different seller to fill orders. Lots of people buy and sell large amounts of shares, say a million. Consider how many times a day an mm might process a million share trade. Obviously, they can't always get all the shares from one source, and get their commission. So, they buy what they can to get their commission, and give up some commission on a smaller amount of shares to fill an order. Hence, 911...
Last I heard, he was working over the weekend to get them done. Of course, that was over a year ago...
Sysco, the world leader in food distribution, has an OS half that of VRUS...and a market cap of $35B.
What would surprise me is if VRUS can do a 10-bagger...A share price of about $.12...
I don't have enough years left to wait for VRUS to become a billion dollar company...
With 1.5 billion shares out, the company would have a market cap of $1.5 Billion at a dollar. It is now at $17M. 1.5B/17M is about 88...so the company value would have to increase by 88 times. It's hard enough to do it 2 times...
JT has said many things many times. How is that working out for us? Every stinky pinky CEO says there won't be an RS until they announce one...don't forget that. We have no way of knowing what any stinky pinky CEO will do...at this point, there is no way to believe anything that has been said because none of it has happened yet.
The ice cream is not going to be sold in the parks - try 7-11...
You do realize that Matt Dwyer is CEO of both companies, right? He made a deal with himself and reneged on it. That 'issuer' stuff is pure BS - He might as well say 'I' and get it over with. Matt simply returned the shares to IGPK, his other company. Duh...
Subtract the preferred shares from the OS and you got it.
Q2 ends 4/30. Fins due 6/15.
The share dividend was not dilution. Everyone got the same percentage, so there were more shares, but no one was diluted. Except those that bought after the ex-dividend date, but that was their choice.