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Congrats to you and "your peeps" in trading this scam of a company. I know you are smiling somewhere with your profits.
DENIED...Maybe this link will help via a' vis Asher Enterprises being blacklisted by FIRNA.
No more R/S.
http://www.securitieslawyer101.com/2014/finra-blacklists-kurt-cramer/
IMO, There will be no R/S. Here is why. Asher Enterprises has been blacklisted by FIRNA.
http://www.securitieslawyer101.com/2014/finra-blacklists-kurt-cramer/
This is really good news for MELY (et al) and hopefully we can get a 13g that states Asher Enterprises has zero interest in MELY. If Asher remains, the dilution caused by the convertibles will destroy any momo because they will short all the rallies all the way up and then convert and cover.
Have you sold your MELY shares? If so, please move on. If not, then just be patient without posting vitriolic posts. Thanks.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=102675925
Have you sold yourMELY shares? If so, please move on. If not, then just be patient without posting vitriolic posts. Thanks.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=102675925
This is why the toxic debt needs to be eliminated as soon as possible. If MELY can secure non dilutive financing, the first thing they should do is get rid of the toxic debt. Once the notes are out of the way, this stock will soar. All in my opinion of course.
FWIW, this is what will happen to MELY when Asher is gone. Asher left this ticker on September 9, 2014. Dilution is killing MELY and the only way the stock will soar is to get rid of the toxic debt, period!!!!
http://ih.advfn.com/p.php?pid=squote&symbol=elra
All the notes are listed in the 10Q. You will get all the information you need in the latest 10Q.
The shorts are the diluters. Here is the truth about the short interest here. Upward movement in MELY's stock price will not affect the shorts here.
MELY NEEDS TO GET RID OF ASHER AND TOXIC DEBT OR SHE WILL FAIL NO MATTER HOW MANY BTC ARE FOUND AND HERE IS WHY
Read about Asher Enterprises and toxic debt.
Here is the most important part of info contain in the link:
"The lower the share price goes the more profitable these toxic debt agreements become for the Note holder like Asher Enterprises Inc. Because of this there is incentive for the Note holder to short the stock to drive down the price before converting the Note into free trading shares. After converting the Note into shares the interest changes to pumping the stock to attract buyers to try to sell those shares at as high a price as possible. The Note holder will often times pay for a promotion to facilitate the dumping of their shares. This brings in unsuspecting investors who have no idea they are about to get dumped on probably causing them great losses.
The dumping of these super discount shares drives down the share price of the stock. The lower the share price goes the harder it becomes for the company to raise capital forcing the company to seek out more toxic financing agreements. The lower the share price goes the more discounted shares have to be issued to settle these toxic debts in the future. The company is now trapped in a toxic death cycle. Once a company signs a toxic financing agreement like the type that Asher Enterprises Inc offers there is usually no escaping the inevitable toxic death cycle after that. The outstanding share count will continue to go up and the share price will continue to go down. "
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68247638
I just emailed the information vis a' vis the toxic debt to Brett at the email address provided on the website beverett@microelectronicstechnology.com. If I get a response, I will post.
Again, MELY could mine 200BTC a day and the toxic debt would still cause the stock price to go down because of the simultaneous and compounding shorting and diluting effect. The toxic debt needs to be bought back with BTC or via non dilutive financing immediately. If not, MELY will bleed to "no bid" all IMO.
The short interest and dilution that is associated toxic debt will kill this MELY if left unchecked.
http://otcshortreport.com/index.php?index=MELY&action=view#close
MELY please use mined BTC or non dilutive financing to buy back the toxic debt and also to retire shares or this ticker will eventually go to no bid...Just my opinion.
http://otcshortreport.com/index.php?index=MELY&action=view#close
MELY NEEDS TO GET RID OF ASHER AND TOXIC DEBT OR SHE WILL FAIL NO MATTER HOW MANY BTC ARE FOUND AND HERE IS WHY
Read about Asher Enterprises and toxic debt.
Here is the most important part of info contain in the link:
"The lower the share price goes the more profitable these toxic debt agreements become for the Note holder like Asher Enterprises Inc. Because of this there is incentive for the Note holder to short the stock to drive down the price before converting the Note into free trading shares. After converting the Note into shares the interest changes to pumping the stock to attract buyers to try to sell those shares at as high a price as possible. The Note holder will often times pay for a promotion to facilitate the dumping of their shares. This brings in unsuspecting investors who have no idea they are about to get dumped on probably causing them great losses.
The dumping of these super discount shares drives down the share price of the stock. The lower the share price goes the harder it becomes for the company to raise capital forcing the company to seek out more toxic financing agreements. The lower the share price goes the more discounted shares have to be issued to settle these toxic debts in the future. The company is now trapped in a toxic death cycle. Once a company signs a toxic financing agreement like the type that Asher Enterprises Inc offers there is usually no escaping the inevitable toxic death cycle after that. The outstanding share count will continue to go up and the share price will continue to go down. "
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68247638
The BTC mining technology has exponentially evolved since MELY began this operation. I would be surprised if their new miners are less than 3TH/s. It does not make financial sense to mine with 1TH/s or 2TH/s miners because of the expense of the miners and the cost of electricity. The Spoondolies are also now cheaper by $2,000 each than they were just 2 months ago. I think in the beta phase MELY was testing a lot of different miners there were operating at different speeds and I don't think that testing was for naught. At this point, it is all speculation and we will know the facts once a PR is released. GLTU
BTC is not going away. A source of mine told me today that a buyer just purchased 1200 of these machines and these machines are selling like hot cakes. That is 6.6PH/s for $4,800,000. That is some serious coin. The main reason they are selling fast is these miners only use 1/2 power of other miners. I am not saying the customer was MELY, but if it is/was the delay we are experiencing is the delay in getting the miners delivered as the company has stated.
Here is the link and power consumption info on the machine.
http://www.spondoolies-tech.com/products/sp31-yukon-october-batch-1
BTW, I also broke the news on the rumor vis a' vis MELY getting a $15M non dilutive loan.
I agree with AMI, if and that is a big if MELY gets the $15M, MELY will immediately go to pennies because MELY will buy all debt (thereby stopping dilution), retire shares and probably purchase additional space and more miners.
Finally, I think all the C/D is occurring at an accelerated pace because they can make more money by converting at these prices than they will make by receiving money for the notes. All of this info is of course in my opinion and no one should make any investment decision(s) based on this posting.
It should be obvious why I post here! Simply, I love ELRA. I wish I was as ruthless as this company. Just printing shares with nothing meaningful to show for it. Sucking people in and wiping out their capital. Giving them false hopes with PR's that go no where. After all, how long can this effort be maintained? Why do you still hold shares and hope this will go up? Why did you continue to average down and lose capital? I don't understand this psychology. The history of ELRA, especially the recent history speaks for itself, yet traders come here and think they can beat the house. The house always wins. IMO.
Vulcan, why would traders raise their ask? Don't you think dilution and shorting would still occur wherever the bid/ask occurs? Did you read, they have billions of shares to dilute. Raising the ask just gives them more money. So far, no strategy has worked with ELRA, except the losing money strategy. IMO.
Integral, this is what I said in my previous post. IMO, ELRA is shorting and diluting. It is very difficult to be a successful trader under these circumstances and why IMO this is a "no play."
Good luck JerseyD. After the last split, shares were locked up for 5 days. Each day, traders saw their capital diminish over 50% before they could take any action. This may open up post split at .01, but by the time shares are unlocked, this may be well below .01. Lets see if MM play the same game this time around.
You buy, they short. You buy, they dilute. That why all bids get whacked, they are either shorting or diluting. Difficult to make money under these circumstances when they are either shorting and/or diluting. Then to make it worse, they hit you with the unsuspecting R/S. Wham, bam, thank you ma'am.
Here why, IMO, ELRA is a "no play." Read about Asher Enterprises and toxic debt.
Here is the most important part of info contain in the link:
"The lower the share price goes the more profitable these toxic debt agreements become for the Note holder like Asher Enterprises Inc. Because of this there is incentive for the Note holder to short the stock to drive down the price before converting the Note into free trading shares. After converting the Note into shares the interest changes to pumping the stock to attract buyers to try to sell those shares at as high a price as possible. The Note holder will often times pay for a promotion to facilitate the dumping of their shares. This brings in unsuspecting investors who have no idea they are about to get dumped on probably causing them great losses.
The dumping of these super discount shares drives down the share price of the stock. The lower the share price goes the harder it becomes for the company to raise capital forcing the company to seek out more toxic financing agreements. The lower the share price goes the more discounted shares have to be issued to settle these toxic debts in the future. The company is now trapped in a toxic death cycle. Once a company signs a toxic financing agreement like the type that Asher Enterprises Inc offers there is usually no escaping the inevitable toxic death cycle after that. The outstanding share count will continue to go up and the share price will continue to go down. "
With several million more dollars to convert, ELRA will have a difficult time going up. Definitely very risky to hold ELRA for over 2 hours. Good luck to all gamblers here.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68247638
Welcome back. I did not and will not contribute to this company's pockets. As I have been saying your timing with ELRA must be impeccable or you are going to get burned. Since our last exchange, this stock has been red and all those those that bought are underwater. Remember, you indicated that people would be able to exit in the .003's. Now look at it, more than 50% down from our last exchange. The only play here is no play at all. You may get lucky and make a little money, but IMO the risk is not worth the reward. And yes I understand risk vs reward. Just look at all the post today from peeps took on the risk. Traders come here and pump whatever the rationale of the day is and in the end most get burned and mean a lot of good traders get burned.
Good day with some buying interest. Lets sees what Monday brings. Hopefully, we get some news.
Last 9 trades at .0009. Ask moved up to .0011. 23 more minutes left in trading day. I am watching level II like a hawk with my finger on the trigger.
They are gone because they lost big on ELRA. They tried bullying people into buying this POS.
Gary, I hope you did not average down. You are a good guy and I think you have have supported this company long enough (with money and time). Please don't contribute any more of your hard earned money to this company.
BTW, where did that new crew go? When they arrived and started arguing with everyone, I knew they were trying to squeeze just a little more dollars out of unsuspecting peeps.
Thanks for posting this valuable info. If you any other info to pass on, please PM me.
Rocket, MELY was your favorite stock. What changed your sentiment here?
AMI, thanks for the response. We will see what tomorrow brings.
AMI, did you ever get any miners? If so, can you elaborate on their speed and your BTC results? Thanks.
I agree. Shares should be retired. The decline in PPS, from the .004 level, did not start until MELY increased A/S to 7.5B. Retire shares, please.
AMI, I brought up the strong short interest presence vis a' vis MELY a few days ago and you kind of "blew it off" indicating that all Pinkies are heavily shorted. I am confused. Are you now saying the strong short interest here is relevant? After you discounted my short interest concerns, the only plausible explanation for this downtrend is dilution by the convertible debt holders.
Are you now saying the short interest is indeed relevant? Just asking...
I saw those trades also. I thought, great some buying interest and then as you said, the b/a did not move. They must have unlimited amounts for sale. I would not be surprised if they are currently selling on the bid and ask. Confirmation for me will be: If at the end of day the 16M shares currently on the bid gets whacked. Usually the whacking occurs circa 1 to minutes before the closing bell. This will confirm, to me, the party's over. JMO
Not one trade in an hour and a half. That is really ridiculous and shows the lack of interest in MELY. Not even any bid whacking.
I understand that part succinctly. My point was they know it is not higher and therefore are converting at what they think is the highest price (now).
It is difficult to get out of the red when the stock is down EVERYDAY. You can't even average down because the lower it goes, the more shares you have to buy. This has to be major dilution at work. Why would the convertible debt holders sell down here? My only conclusion is they know the price will drift lower. Thoughts?
Level II looks awful and this might even hit 6's or 7's today. By the looks of things, today is the day I bail. I am not going to hold it .0001. The share price also tells me that no one really cares about this stock. There was much more interest before they had any servers. Thoughts?
I don't have any problems with Brett's email. If I were a CEO and bombarded with emails, I might say the same thing. He is growing the business and if business grows the SP will also.
What I don't like is the one tick down everyday. I will wait until tomorrow before making my decision.
AMI, how can you be so calm with this PPS? With 30M shares, you are losing $3,000 with each tick.
Everyone here should be maddddd as hell with the PPS. My patience is getting thin. If this is down tomorrow, I will have to seriously reconsider my position(s).
Please take a look at MELY's wallet. They earned BTC everyday the miners were operating in addition to the block earned.
http://blockexplorer.com/address/1YEQqLxpgwYyJE8na1Rg4h4LnETRKJrq1