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caddor35, even after sending in the Certificates, brokerage houses can still trade Loch Harris. As long as Loch Harris is a public company with registered shares, market makers willing to trade them and investors willing to buy and/or sell, Loch will continue to trade. As I said before, I don't know whether there is a short position or not, but if there is, the MM will have time to cover after June 27, when hundreds of million of shares will be retired for the exchange. Also remember that there are at least 16 Canadian brokers that trade Loch Harris shares.
I do expect a higher than usual volume tomorrow and a raise in the price, in view of the fact that hundreds of shareholders that never read message boards are reading the 8-K form, and they may feel motivated to purchase more shares for the exchange.
Rio, here is again:
"69. The fifth Bloyed factor likewise militates in favor of the settlement. Plaintiffs contend that, according to Loch Harris’s articles of incorporation and amendments, it appears there are more shares outstanding than were properly authorized. Loch Harris’s records, however, lack detail on this point and especially on whether appropriate consideration was given for those improperly authorized shares. Piecing together a provable measure of damages would involve a great deal of time by financial experts and would be costly and uncertain. See Counsel Aff. ¶¶ 64-65."
Rio, I quoted from the Final Judgment. You can read it yourself.
Rio, I am quoting from the Final Judgment, not fabricating anything. I never said the MMs were short because just as you don't know that, I don't know that either. But the fact that the SEC or Loch did not stop trading on June 27, points towards that possibility. Anything anyone say about the short position is plain opinion, without facts to back up. But when I quote the Judge, now, that is a documented fact.
Rio, is Kamber saying that the Judge lied?
Rio, please take some time and research an issue before posting misleading information:
"69. The fifth Bloyed factor likewise militates in favor of the settlement. Plaintiffs contend that, according to Loch Harris’s articles of incorporation and amendments, it appears there are more shares outstanding than were properly authorized.
Loch Harris’s records, however, lack detail on this point and especially on whether appropriate consideration was given for those improperly authorized shares. Piecing together a provable measure of damages would involve a great deal of time by financial
experts and would be costly and uncertain. See Counsel Aff. ¶¶ 64-65."
trout_back, there is none. This whole thing seems to have been well orchestrated. The SEC proved once again that they don't give a dime for shareholders, by not stopping trading of Loch on June 27. If they did, the MMs would have had to cover. But now, they will have all the time they need until Loch finally files for dissolution and stops trading. And guess where the shares to cover will come from? Remember where the Judge said that the outstanding shares were substantially more than the authorized shares? There you have it. And of course, the MMs will cover at the price they bought the shares, that in many cases was quite a high price. So, all those who received illegal shares will benefit nicely, more than anyone else. And brokers who allowed shorting will be among the last ones to send in the Claim Form. What a superb plan.
I see no reason for the MMs to hurry and cover their short position. They will have plenty of time to do so after June 27. Keep in mind that even the Judge acknowledged that there were more shares outstanding than authorized. All those shares (not elligible for the exchange) will get in the market after the June 27 deadline. It all looks to me that it was well orchestrated. Another story would have been if Loch Harris declared a complete stop in trading after June 27. The the MM would have had to cover.
scarednomore, the day will come when you and all the others will understand why I have done what I have done in the last 8 months. Hopefully.
scarednomore, it just shows once more that if enough pressure is applied, the Boys will comply. Once again I win, LOL. Evidently there is nothing in the 8-K that could have not been filed the very Monday, June 9. It is just the way the Boys work. Now, time to get your act together and start pushing for the exchange. Hopefully they will comply with it, but don't wait for the last minute.
Rio, you are right. The articles Raiderman brought out speak for themselves. There are always people that will try to twist what is clearly written.
Just spoke to E*Trade and was informed that Loch Harris will continue to trade normally, unless it is delisted. June the 27th is the last day any purchase of Loch still qualifies for the exchange. After that date, purchases will lose their eligibility, but the stock will continue to trade at least until the Court considers and approves Loch Harris dissolution on a date after the Exchange is completed.
Raiderman, no Judge has any authority to interfere with a publicly trading company in regards to it's trading or non trading status. For that purpose there is the Securities and Exchange Commission.
MrTGRich, Loch will not stop trading after June 27. The Judges recommendation only pertain to June 27 as the last day Loch shares traded will qualify for the exchange.
Rio, Loch is a Pink Sheet company. Many SEC regulations and requirements do not apply.
caddor35, I don't think we will see the 8-K until after June 27.
trout_back, I believe the higher Loch closes on June 27, the higher CDEX will open.
scarednomore, I have no intention to interfere with or delay the distribution.
Rio, if I have it, why not share it with those who need it? What's wrong with that?
scarednomore
cacantor@attbi.com
scarednomore, I don't think such a topic should be discussed on this board. Too easy to be interpreted the wrong way. But I will tell you this: JM talks for hereself.
I was right, closed at .05:
Posted by: lmorovan
In reply to: Robert Mitchum who wrote msg# 891
Date:6/13/2003 11:29:38 AM
Post #of 913
Yes, Bid at .041, Ask at .043. It seems MM are trying to raise the bid to encourage sells, so they can raise the ask. I see a closing price today at .05.
INET6, CDEX has issued Press Releases of much lesser importance than a revenue generating contract before. I just wonder. I believe MP should try to show the SEC good will and responsible management in view of the forthcoming registration application. I never made any reference between CDEX news and the shareholder of Loch. Please, don't read in my post what is not there.
You see, Bid went to .040 and Ask to .045. Sign of up trend.
Yes, Bid at .041, Ask at .043. It seems MM are trying to raise the bid to encourage sells, so they can raise the ask. I see a closing price today at .05.
I wonder why CDEX did not issue a Press Release about the Contract with the Navy.
Robert Mitchum, you are right. Some pretend to be Christians while use very dirty language, invent lies and spread them, even threaten others. How can they live with themselves is beyond me.
MrTGRich, I would suggest you don't provoke Rio with those posts.
Robert Mitchum, easy. Pick up the phone, call him and ask him about the article he wrote over a month ago. You might get the same answer. I did.
Excellent find Rio. Thanks.
posinvestor, I believe there is no rule on this board that allow only happy investors to post. As long as the discussion is carried out in a civil manner, it doesn't matter who is posting.
When I was restricted to only 3 posts a day, I copied and pasted the page that informed me about the number of posts. After getting out of the jailhouse, the number of posts show 18 a day.
Bid $.038, Ask $.045
wrong on both counts caddor35. I post just like anyone here when I have something to say. And I am a shareholder still. Get your facts straight.
Art, the only way MP can avoid a massive sell off of CDEX is if he starts trading at a price that very few would be willing to sell. And considering the fact that it take months and even years to inspire confidence in the investing community as a start up company, I see a long waiting for the price to get where it may be beneficial to sell. Not to mention that there are many millions of shares that were not paid for that will likely be sold (attorneys, insiders, plaintiffs) and then the PP shareholders that will likely see a good price to sell, even if it is not good enough for the rest of us.
Art, that is very noble of you. But I don't think you will wait for all 1,800 shareholders to make money before you selling your shares.
Here's another one: we take the Red pill.
Here is mine: the worst think that could happen is that, despite good news, CDEX will not be able to sustain a high price. There are not so many $25.00 a share investors out there that will buy into a company that has no trading history, it is only 2 years old, no substantial revenues, no proven management, and a past history linked to a scam company and a questionable deal.
Art, of course you would think diferently if you were one of the few that could benefit from a huge run up. Stating otherwise would be... well, I don't want to say it.
Rio, you ask valid and reasonable questions, that should be answered. But they are not. Another questions: is CDEX holding back information with the purpose to avoid a run up in the price of Loch?
Rio, many shareholders are happy with the performance of the price of Loch Harris. And regardless of how much we hope that CDEX will hit big, that is still sometime in the future, and it is, contrary to many opinions expressed here, still uncertain. As investors, many will reach their get even price and even make some profit. Since the probable start in CDEX trading may be many months in the future, it makes sense to bail out and put the money to work, rather than freeze if for half a year. Would you ever look back to CDEX if Loch would reach $1.00 and you would sell your shares as you stated you would? I am sure, if that were the scenario, you would look at CDEX with more cautious and critical eyes, and would like more questions answered before deciding to buy into CDEX.