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You're not getting it. Urbie wants to MAKE MONEY. For himself.
Urban feeding MMs shares does not make sense.
Urban would want to get back more of his company, not sell.
I agree. But because most here haven't followed PCBM/SRCI, they don't see the parallels. And don't want to.
Considering what happened to PCBM/SRCI this week, imo Glenn was hired to save the day.
Here's a question for you: Why short naked when you can get a borrow? And if there's as much o/s in this one, getting a borrow shouldn't present any problem.
Why take a risk?
I'll qualify this by saying I don't think there's any significant short position at all. But if I wanted to pay enormous margin and maintenance to do so, I think getting a borrow would be a snap.
No... People have, in fact, tried to sell stock on Ebay, and the SEC put a stop to it. FAST.
I could be wrong, but I think normally the SEC doesn't actually publish the "event" until the time for applying for a hearing has passed.
...and that within fifteen days after the receipt of a request in a record from the person the matter will be scheduled for a hearing. If a hearing is not requested and none is ordered by the commissioner, within thirty days after the date of service of the order, the order becomes final.
Or is that from the actual Order? I confess I'm too lazy to look it up.
Hell no. They're more likely to set up a legal defense fund if he or Turino or Mr Lobster get into more serious legal trouble.
That makes sense to me. I wonder if any of the TLs would try to take advantage of that fact?
I wonder....
Tate, are you saying that shares can still be bought and sold privately? For some reason, I thought even that was forbidden.
If they decided to buy and sell the shares among themselves, or if Hall decided to set up some kind of clearinghouse so the marks could "trade" privately, could any of them be nailed by the SEC for selling unregistered shares?
Corbel is currently "inactive". Revoked for [failing to file] annual report.
http://www.sunbiz.org/scripts/cordet.exe?a1=DETFIL&n1=F01000003455&n2=OFFFWD&n3=0000&....
All he has to do is pay a fee and fill out a form.
I don't think it takes a lot of effort to register it again if he wanted to..do you?
But since it defaulted in May, and it's now July, my guess is he doesn't care.
lol...
the SEC didn't revoke the articles of incorporation. Granted, you can't buy or sell the shares on an exchange but they still exist to do so privately.
They could do as Mikey Sylver did, and put 'em up for auction on a website:
http://www.amazon-treasures.com
Unfortunately no actual shares have been traded that way. And I think also that the SEC never bothered to yank Mikey's registration.
Probably true, but if you don't have a license to do business (which I believe Serac does not), don't have any business to do, and probably plan to let your incorporation lapse......
Well, I think you see my point.
Default with the State is NOT necessarily loss of legal entity. Registration with a State is like paying taxes or a license fee. If you don't pay your taxes, you don't cease to be a person.
LOL!!
IF you care about your shares (some may not), check it out PERSONALLY and THOROUGHLY -- even multiple sources, first-hand. ........
What Riter doesn't understand--well, one of the things she doesn't understand--is that the kind of person who answers questions for online brokers doesn't know dick. They're all ignoring the fact that this is a fairly unusual situation. The SEC has in the past been very reluctant to revoke registration. But I think now they've decided that it's an easy way to get rid of problematic companies.
I guess Riter still isn't prepared to admit she was scammed, though I'll keep on asking her. I wonder how Spousal's taking this.
And I'm waiting to see just ONE acknowledgment from any of them that the Nasty Bashers were RIGHT. If they don't change their attitude, they'll be going through something similar in the near future.
I wonder how many times I'll have to say this: ALL outstanding stock has been ISSUED. The phrase is: "issued and outstanding".
Huge OS with only a fraction of issued shares...
Management is to blame, of course. And we're still waiting for further information about Arson at All Pro...
Can you provide a link for that shitload of diamonds?
Why "only a few more days"?
Only a few more days and the crooks will have to pay up.
The PCBMers' mantra was "next week". They said it so often that it became a joke, even among longs. There were those who were saying even last week that PCBM had the biggest short position in the history of the world.
That was never demonstrated, and a great deal suggests that it didn't even begin to be true. Moot point now. PCBM/SRCI will never trade again.
Here's a thought: why don't you learn to post links. It isn't very hard to do. And it's so much easier for everyone else.
More polite.
lol, throw a stone in any direction... ALL Pinkies that attract any attention are "to the moon" stocks. The hype, au fond, is all they have going for them.
Here's a tip: when they start planning the Millionaires' Party in Hawaii, the stock has peaked.
Gee, ya think?
Generally one would think you hire a large New York securities law firm and especially a lawyer with SEC experience, to deal with securities and SEC issues.
Sigh...
just because he used to work for the SEC and was responable for writing allot of the new thingy's and maybee......
Nearly all attorneys who want to specialize in securities law work for the SEC for a few years before entering private practice.
Glenn is not responsible for "writing allot [sic] of the new thingy's [sic]". He wrote a commentary on the Sarbanes-Oxley Act.
Index options.
If you had $500 to invest in a high risk stock what would you buy?
Not "a stock", of course, but options are my preferred high risk play.
Oh dear. I guess you're just not capable of understanding my simple post. I don't see how I can make it any clearer.
Excellent advice.
LOL!! The words "CMKX" and "Warren Buffett" should NOT be used in the same sentence.
Not my opinion. Obviously, it's fact. If Urbie knew what he had, he wouldn't be doing aerial surveys and drilling core samples.
No. That's not to say that some haven't been decent trading vehicles. Good companies? No.
Sure I get it. Urbie's issued an absolutely ridiculous amount of stock, and that shows up in this crazy trading.
No other stock in the history of the markets has traded as much volume as this one.
BIG red flag.
Ah yes. Bizarro World. Up is down, and down is up.
No it isn't. MMs wanted to keep the bid low because they weren't interested in holding a lot of inventory through the weekend. That's normal enough. And you got a break because they kept the spread reasonably tight and didn't raise the ask.
Looked normal and orderly to me.
What are your truthfull opinions of todays trading?
I just told you: the SEC has revoked its registration. It'll never trade again.
Grub!
Yeah, sure. They said all the same stuff about Vince ("Horatio Alger") Lo Castro. He was their hero...
Registration revoked.
Trading has nothing to do with "teamwork".
I dont know investing but I do know teamwork..
Just an observation: you guys aren't very objective, or very realistic.
One would hope so, given the quality of the results from the Carolyn Pipe.
each hole just gets better... IMHO..
Your point may be simple, but it isn't really very clear. We were talking about what Urbie knows or doesn't know, not what I know or don't know.
MY point was that Zen is wrong to imply that Urbie dazzled Glenn with visions of mountains of diamonds, because Urbie doesn't yet know whether his properties are worth anything.
Wrong.
You have NO idea what Urban knows or doesn't know... right?
If Urbie knew what was on (or in) his properties, he wouldn't have to engage in exploratory drilling.
And...he very defintely DOES know how much stock he's issued.
It was Urban screaming "GOOD LORD, YOU ARE GONNA SQUAT DIAMONDS WHEN I TELL YOU WHAT I HAVE."
Only problem with that "logic", Zen, is that Urbie doesn't yet know what he has or doesn't have.
Uh, what is?
This is gut wrenching exciting...
You are, perhaps, easily excited.
You don't see any of us there, do you?
Actually Janice I think that a basher would love the opportunity to go onto IBC Radio.
We'e not big fans of Daryn Fleming, you see.