is...retired
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The only ones that would NOT be responsible for that buy/sell is the MM's. Someone wanted shares, someone sold. MM made his spread. Nothing more than that.
Any shares up for sale at any price are fair game for mm's to trade. The only way to keep your shares from being used to trade by mm's is to not have them for sale, and have them in a cash account, not a margin account.
But why would anyone not want the mm's to be able to provide what they actually DO? It's no skin off anyone's nose when MM's short to complete sales - it may be YOUR purchase that triggers it...
According to their website:
SPIN OFF
Following the spin-off, Hemp Beer Inc. will become a separate publicly traded company. NSAV will spin-off 20% of Hemp Beer Inc. to its shareholders, who will be awarded with a share dividend based upon their holdings of NSAV on the record date.
There are different kinds of dilution. Strictly speaking, any time the OS grows, there is dilution. Except in one case I know of - a dividend that goes to all shareholders. Been there, done that.
There is toxic dilution. Company borrows money, doesn't pay it back, and gives away stock at almost nothing. Tons of shares that are almost immediately dropped into the market before the price changes. If they let it drop even one tick, they lose. Lenders dump immediately to get the best result they can.
Then, there is this situation - the shares are not being given away at next to nothing. They are, if executed, sold at a price that is above today's price.
There is nothing in what I've read about this whole situation that even tells me that getting paid in shares is the goal. It reads like any other lender, where the loan has a maturity date and an interest rate, which, if followed, would pay the loan off. The only question here is whether they can garner enough income to pay the loan off before it is convertible, or before Garlock decides to take stock in lieu of money.
One thing we can be assured of - this was well thought out, and there is a plan. The AS increase, and convertible terms do not tell me that the conversions will ever take place. It tells me only that it is in place to make it a legal loan.
Known for short selling? All MM's short stocks - that's how many transactions are completed. But if you think they simply buy short for themselves, you are dreaming. MM's only 'buy' stock when there is a buyer unless the market is illiquid.
As long as there are buyers and sellers, they will make the transactions, provided they can meet their spread. AGAIN, MM's don't give a crap what ANY stock does, their business is in completing the transaction and getting their spread.
It is clear to me that many ihubbers have no idea how MM's actually work or how stock is actually traded, and who does what and how they make money doing it.
It is strictly illegal for MM's to 'trade' for themselves - they cannot buy stock and resell it on the open market as we do. The SEC would close them down in a heartbeat if they tried that.
It's hard telling what he needs that money for, but I'd suggest it is to expand the business. Not just to pay bills and keep the lights on. There are 6 legs to the business, so it's difficult to determine where the focus is going next.
Nothing has happened on this 'beer dividend'...except the ratio was changed and supposedly CHIF is the company that will own the beer rights. So, we were supposed to get Chif shares based on how many NSAV shares we owned, but no one knows when the ex-dividend date is for that to happen, or if it will ever happen.
If you go through the filings, you can find out what the new 'ratio' is...but I'm not going to bother, since I no longer think that is in the works.
No, no one shorts penny stocks. Find just ONE person that says they do that. You will not find one. Ask your broker to short a few shares for you. They will not do it.
Even if a brokerage would permit it, no one in their right mind would short a stock that is about to take off...
It is not 'non-dilutive'. Any time shares grow the OS, that is dilution by definition. The point here is that he is selling treasury shares (from the AS) to generate cash, not taking on a toxic loan.
It would be illegal for MM's to know insider information before that information was made public. The SEC takes insider trading very seriously, regardless of what tier it happens in. The MM is not the bugaboo you guys make them out to be. If anyone can prove that, it should be reported to the SEC. Otherwise, if you can't prove it, it isn't true.
Both the otcqb and otcqx tiers do require audited annual fins. Pinks do not require audits. Audits can cost upward of $25k, so it is a significant expense for a development stage company. I would not expect a pink that is not yet profitable to undergo that expense. It would be a waste of money, and, if not profitable, an expense that might require a loan. Defeats the purpose of being in the pink tier.
It's not a matter of what people believe - it is about how the system works. Shares that are for sale are available to mm's - they don't have to PAY you for them, they short to get shares, then replace them from another source. That's just how it works.
Also, any shares in margin accounts are fair game, for sale or not.
MM's care less what the share price does, all they care about is that shares are available that meet their spread. They make money on trades, not on buying and selling stocks. It would be illegal to buy shares to hold and then sell at a profit. Their incentive is to make trades, not fudge the share price. Their cut comes out of each trade, regardless of what the share price is.
ALL of those MM's compete for the same business, and if one doesn't come through, another one will.
Tweets are NOT as good as 8K's. When the CEO blocks shareholders on twitter, as he has done to me, it completely invalidates twitter as a news release source. The SEC would likely punish NSAV if they found out that he was releasing news selectively to some shareholders and not others.
Also, there is no substitute for an 8K. It is the ANNOUNCEMENT (the press release) that is legal on social sites IF and only IF all shareholders are treated equally.
So, no social site replaces any SEC requirement for filing purposes.
Everyone should already know that. I'm amazed people still make that claim...
My buys and sells are generally at good for 60. Standing orders. I don't even look at them. If my limits kick in, there is either a buy or a sell. I care not what anyone else does, nor does it matter. Ihub members probably hold less than 10% of the shares, and could not budge the share price if they tried. Whales have the advantage, we are the dregs. Learn how it works before you disparage other traders.
We all do it our own way. My way is to make money, no matter what the share price does.
If you have your shares for sale at any price, the MM's can take them. What don't you understand about that?
MM's don't control the price - they control their spread. The price is reflective of supply and demand. MM's don't make any more when the price goes up or down - they get their spread, and that is all.
If you have a cash account, MM's can't use your shares at all, unless you have them set for sale. If you set $100 per share selling price in a cash account, they can STILL 'borrow' your shares to make a sale. That is how they work. They return the shares when they cover, and you never know it happened. In a margin account, they can always access your shares.
The main point is that if your shares are in a margin account, or for sale in a cash account, they can short them to complete a sale, and cover later.
I have answered the dividend question multiple times.
Again, if you owned NSAV stock in May of 2017, you were eligible for a 10% increase in your shares. They are restricted for 2 years. They were delivered in October 2017 and will become unrestricted in October 2019. At that time, the ticker symbol will change from whatever it is now to NSAV.
Yes, I do have some of those shares. The ticker is a set of numbers, at etrade. Other brokerages may do it differently.
The annual report is already filed, but the attorney letter is missing. Q1 is not due until May 15...45 days past the quarter end.
My suspicion is that the annual report is being modified and will be replaced with a new one with more of the current information, like the TTB approval. And, of course, the attorney letter to go with it. Without that letter, Pink Current will go away.
You are missing one thing: Hexagon Holdings is already a public company with a defined share structure. Check out the Colorado SOS site. THAT is where ONCI is going to be. It is not strictly a name change, it is also changing the state of record. The new company already exists - you could not 'move' the ONCI share structure into it, because the Colorado company ALREADY has an AS of 4B. What will happen is that your shares of ONCI will be traded for shares in Hexagon Holdings. ONCI will effectively have zero share holders. Its AS will not change. It will continue to be a company, eligible to be sold to any company wanting a shell to move into. Private companies BUY these shells, then reverse merge into them to become public without an IPO. That is probably what will become of ONCI...
The ONCI AS is not going to be reduced. Hexagon already has an AS of 4B, and that is the 'shell' that ONCI will move into. ONCI's share structure will remain intact, but ONCI will no longer be trading. All your ONCI stock will be withdrawn, and you will be issued Hexagon stock, under whatever that ticker will be (Not yet identified.)
Note that you will not be able to trade either while this takes place, which takes days.
Garlock isn't just another note holder - the loan enabled VRUS to retire the other convertible debt and give them room to grow the company. If VRUS does well, they should be able to pay the loan back off. Otherwise, they will probably let them have stock at the fixed (but above today's) price. It's all in the filings.
The AS HAS to be raised - there must be shares for Garlock if/when his note converts. That is a legal thing - you can't borrow money against stock if you don't have the stock. The reason no dilution happens between now and then is that those shares in the AS are 'reserved' for Garlock's loan and can't be used in any other way without his permission. In the meantime, if share price rises, he can get those shares at below market price. THAT will be dilution, if it happens but ANY growth in the OS is dilution anyway.
Those are MM's that didn't close out before the end of the day. What you learn from that is that there is a lot of activity, that's all.
The answer is because some OTC traders have a standing buy and sell at different prices. I do that myself. Mine are good for 60 days. I will buy when it hits a low limit and sell when it hits the high limit. I don't even look at them - it is all automatic. Every time it sells, the cash sits there waiting for the low (buy) limit. LOTS of whales do that - I'm no whale, but I ALWAYS make a profit on these stocks. Any OTC stock that bounces up and down is a good candidate for that.
They all must follow the same rules, and every.single.transaction is recorded and subject to review by the SEC. You guys blaming the MM's is simply hilarious. The price moves because people buy and sell. All the mm's get is a little spread on each transaction. And, by LAW, they must give traders the best price available.
When you see price movement, think buyers and sellers, not mm's.
The difference is that we are traders, but MM's are brokers. They short to help YOU get your order filled and cover afterwards. We, as traders, cannot do that in this marketplace.
You guys have a completely twisted idea of what MM's actually do, and how they do it. First of all, they are not traders, so they don't buy stock and sell it on the open market. That would be completely illegal because they have an unfair inside view of stock values.
If we didn't have MM's, we would not be trading at all. If you wanted 10,000 shares of some stock, you would have to personally find someone willing to sell them to you at a price you would accept.
No, they operate on the spread - the difference between the bid and ask that THEY set out publicly. They don't even LOOK at any of the individual stocks to set that up - their computer algorithms do that constantly.
MM's are brokers. Just like Etrade and Ameritrade, only one step closer to the action. If you buy something via etrade, that order is handed off to MM's to fulfill the order. If they can find shares at a price that fits the spread, they will fill the order. They MIGHT have to short to get the shares, but not always - it is about supply and demand, when supply is low, shorting may take place. In any event, without MM's, there would be no market at all.
The point is that none of us can short any of these stocks. But, that is exactly HOW MM's get the shares you want to buy, if necessary.
Short interest is reported twice monthly. It is MM's that use shorting to facilitate trades. Not those of us using brokerages.
MM's function by shorting on a daily basis. I've read that up to 90% of trades on a given day may be short. That's because Mm's 'borrow' the shares to sell to buyers, then cover shortly thereafter. If they don't cover by the close, it is called 'short interest', and is reported BY MM's twice a month. It has nothing to do with shareholders.
There are no short sellers in the penny stocks, period. If you don't believe it, TRY IT YOURSELF. You won't be able to do it.
No one shorts penny stocks. Not even legal. Find another excuse.
Could not be more incorrect. First, the company is not SEC reporting, which anyone would know that even looked at the OTC page for ONCI.
The yield sign will remain until 2018 is closed out - which will happen AFTER an attorney letter for the annual report is filed. Q1 does not require an attorney letter, so everything is present EXCEPT the attorney letter for 2018 at this time. OTC is waiting on ONCI, not the other way around.
I learned long ago to not argue with idiots - they bring you down to their level and beat you with experience.
Oh, by the way, did you CALL your broker and ASK about shorting? No, of course you didn't or you would not be claiming it is possible.
You actually think MM's don't support flippers? For pete's sake, they don't care WHAT any stock does. They facilitate the trades. Flippers trade more often than longs so MM's MAKE MORE MONEY on flippers. Every trade brings MM's money. EVERY SINGLE TRADE.
MM's don't have any interest to protect. All they need is buyers and sellers. They get their spread on every single trade.
MM's don't hold the price down or help it up.
If the share price is moving, it is because shareholders are buying and selling. Stock market 101.
MM's don't know ANY NEWS before anyone else - that would be illegal. That would make them technically insiders.
Where people dream up all these things to blame on MM's astounds me, because it shows such an ignorance of the way the whole stock market system works, and makes me wonder why ANYONE would put their money into a system they don't understand. That's like driving at full speed down a highway at night with the lights off. What you don't know CAN and WILL take your money away, eventually.
Yes, MM's do short stocks to fulfil orders, but they cover within nanoseconds to milliseconds - faster than the stock price can even change. All automatic.
What Are Etrade’s Rules on Short Selling?
Most brokers, Etrade included, require you to have a margin account with at least $2,000 in order to be able to short stocks. In order for you to be able to short a stock, Etrade must also be able to locate the shares to borrow. Even after the short is initiated, there is no guarantee Etrade will be able to let you keep it open indefinitely shares become harder to borrow. Etrade, just like TD Ameritrade and most brokers, does not allow shorting of OTC or penny stocks.
No one is shorting this stock, and no one WOULD if they COULD. You don't short stocks that are in takeoff mode...jeez...
If you don't believe me, just TRY to get your brokerage to short even 100 shares (about $1.00). First, you'll have to have a margin account, and you'll have to have about $2.50 PER SHORTED SHARE in your margin account. That $2500 will be frozen for the duration of the short. And if you don't cover, it will be used to cover for you.
But, that assumes your brokerage would even LET you short a penny stock...which it probably will not. Call your brokerage and learn its rules for shorting.
Just spouting nonsense simply shows ignorance of how trading is conducted.
Your shares cannot be used by MM's unless you have them for sale OR have them in a margin account. Standard cash portfolios cannot be used.
Putting them up for sale at a high price means they CAN use your shares - all they have to do is put them back. If your shares are used that way, you will never know it. But putting them up for sale at ANY price makes them fair game.
There is premarket trading, but not by our brokerages. OTCM posts their hours, if you just go read it.
You are dreaming, if you think VRUS can uplist to a major exchange without an RS. The OS is too large to lift to a big board without one.
OTCQX yes, but of course they did not say what they wanted to uplist TO. I'd suggest it will still be an OTC stock for quite a while.
You don't go from stinky pinky to NASDAQ overnight.