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Exactly, let's digest what was actually released for a second before everybody comes to a conclusion.
All I can say is those who were selling all the way down are going to be pissed if they look at the PPS in 3 hours.
I can't count how many times I've seen this. Sell, sell sell, bounce, green close.
Wow, a dump at all costs panic. I would be looking for a pretty big bounce today.
One could also surmise that there might be a reason that further claims were staked before drilling results are released. I think we might be seeing KATX playing a little ball here.
One could surmise that further claims at Rusty Ridge would be pointless if they struck out with phase one. Either they hit it or they're onto it.
Good god I hope that's the case. HDSN has kept a lid on this stock.
I'm only talking over the span of one or two trading sessions that the daily short volume is probably carrying over, and this is obviously dependant on how many shares are shorted compared to total volume. Nonetheless, MMs aren't looking to short shares for the sake of liquidity and then cover at a higher price.
Although I agree that most MM short sales are covered within the same day or so, they make money selling the shares and then covering at a lower price, it's the same principle as making money off the spread. This CAN have an effect on a trading session, depending on how many shares a MM needs to cover during the trading session. No conspiracies here, but this is a fact.
Usually when MMs trade shares back and forth it's an attempt to incite buying or selling from retail holders. It appears they'll gladly take your shares at around .06, that's where a few MMs have been sitting and absorbing shares the last couple weeks.
I guess you'll have to learn the hard way how a pink sheet operates after a SEC suspension. I hope you'll come back to apologize to those you might have mislead when this resumes trading on the greys.
How are they going to fry the shorts? Release another fake geological report? Maybe this time they can use "Craig" Parham, that would be "Graig" Parham's brother, not to be confused with "Greg" Parham.
If you're referencing a SEC lawsuit or possible DOJ involvement. Then yes, we'll have to wait and see, but one thing you can say with certainty is that SAEI has not provided adequate documentation to the SEC regarding their claims. They wouldn't have been suspended if they had.
Definitely all the same things were said here. Blame the shorters, blame the SEC, the company is the victim, the company will make it through this. We all had to learn the truth the hard way. It kills me to hear how much money people have lost over here and over there.
Why anyone in their right mind would pay that much for a single share of ACLH is beyond me. It's worthless. At some point ACLH will be stripped of whatever value it had and moved somewhere else to be pumped under a new ticker.
The only hope for that would be a class action lawsuit filed by investors against SAEI. Even then, the settlement would more than likely be pennies on the dollar for investors best case scenario. It's the lawyers who make out in class actions.
Unfortunately for those trapped here, the initial inquiry was already done by the SEC, they won't suspend a stock unless the company either chooses to ignore their requests for information or provides inadequate information. Only after this will the stock be suspended. This will 100% open on the grey market, no bid, no ask, all trades are executed broker to broker through matched orders, which means that somebody's selling price has to match somebody else's buying price. There will be buyers, but at bargain basement prices.
That's the best advice you could give somebody. When the opportunity presents, at least take your original investment out. I remember someone on here pounding the table telling people to take profits at .80. Hopefully some listened.
This will resume trading, but on the grey market. SAEI could try to submit a dictionary of documents next week, but it won't matter. The SEC came knocking and SAEI either ignored them or didn't have documentation to back up the claims in their PRs.
Hey man, at least people had the chance to get out once the red flags started to pop up. Whatever loss they took getting out is better than trying to sell on the grey market.
Most people don't get a week to sit and look at all the red flags that are being layed out before them. So I would say that whoever was still in SAEI should've known the risks of this being suspended. Most aren't that fortunate when a suspension comes down.
You are deceived. The stock was suspended because SAEI didn't provide adequate information backing up what they were saying. That's how this works. There is no "SAEI will be vindicated". They already had that chance, and either chose to ignore the SEC's requests, or provided insufficient information.
Well, that's just personally what I gathered. I'd speculate that's what we might've seen in the financials also. Hopefully they'll get the money through streamlining instead of selling stock.
I hope for everyone's sake there isn't a R/S. The only thing I really took from the last PR was that OWVI is going to need more financing.
It's sad to see what has become of this with all the potential OWVI had. Shortly it could be a candidate for a R/S so SP can start the dilution game all over again.
Stocks get painted up and down, and this has been both painted up and walked down.
I wouldn't say that, even if all this never comes to fruition I wouldn't say that. I've had a couple "learning experiences" so far with stocks not working out, and with the research I've done on KATX it's the most solid stock I've been a part of. I need this one to work out, if it doesn't I think I might be cursed.
I understand being frustrated as hell, as end of day takedowns have been the MO of this stock for the last 6 bloody months, but if it's any consolation I don't consider RR results as being "late" yet, and charts are showing .06 as good support.
Ultimately it's your money, just understand the red flags present here. If you hold until a suspension hits, you can write off 80-90% of your initial investment when it resumes trading on the greys. There will be no market makers and your selling price has to match someone else's buying price in order to complete a transaction. All transactions are broker to broker. It's trading in the dark.
I agree, a suspension is the kiss of death for a pink sheet.
A suspension will have the same end result. Pink sheets are the wild west. Grey sheets are licking the walls of Chernobyl reactor 4.
I believe that Bloomberg called the numbers listed for SAEI, and hilarity ensued. I think one went to a tire shop/auto clinic.
I have my doubts that any of the company "officers" are residing in the states. The SEC takes action suspending the stock and possibly files a civil suit, the DOJ possibly files charges, and the defendants hide overseas counting the millions they've made. Not saying for sure this is the course that will be taken with SAEI, but it appears to be heading in that direction.
This wouldn't be the first or last time a pink sheet company has used the "buyout" scam. These buyouts rarely come to fruition, it is a means of selling stock. It's laughable that instead of addressing the many indescrepencies concerning the first offer, they issued another even better buyout "offer". Bashers and pumpers aside, buyer beware.
That 113 number denotes the number of brokers that hold shares. There are numerous individual investors within each broker that holds shares.
This is false information, for one, a pink sheet isn't halted, it's suspended, and demoted to the greys, which is the kiss of death. And the SEC conducts a thorough investigation before suspending a stock. We have no way of knowing where the SEC is at with any investigation. A suspension will come once they have information (or lack thereof), that one is required.
Sorry, there are no mulligans when it comes to releasing false PRs, once the SEC has the info they need, they will suspend trading. It would appear this has the probability of being suspended soon.
Would you rather KATX hire a bunch of newsletters to pump this stock? KATX has a chance to be the real deal, no pump, no bs, just mineralization. That will sell this stock. Exploration companies that are the real deal experience huge increases in PPS that are sustained. It seems any mining stock can be pumped to gain at least 100% or so for a brief time. That's NOT what we're after here.
The ONLY way this would be suspended tomorrow AM is if the SEC has already requested info from SAEI and they've failed provide supporting information. I believe the SEC even asks more than once. It's a process, they don't just suspend stocks on hearsay.
Doubtful you'd already see a suspension tomorrow, unless the SEC has already been requesting information from SAEI. The SEC will usually give the company a chance to clarify things before they issue a trading suspension. Went through it before.