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Not a very good-- nor accurate -- analogy. The better one would be that:
the parent was born and raised in Canada but lived in Massachusetts ...
One day they decided to have their residence of record changed to Delaware so they bought a house there; but after having issues with paperwork and a bit of impatience, changed their mind and bought another house in Nevada...
... meanwhile they moved and bought yet another house in New York and had a child born in Canada.
They now declare primary residence in Nevada, but work out of New York and their child is currently living in Canada.
FTR, the Delaware home still exists, but no one likes to talk about what happened there
Sold UNXL shares +38.98% gross in 8 daze #msg-102561520
Sold WFM Jun 27 38Cs +60.00% gross in 9 daze #msg-102503100
Still holding:
BGFV shares (12.05) #msg-101628953
CCJ Jul 19Cs (1.25) #msg-102618808
CTHR shares (2.13) #msg-101893737
GIMO Jul 17.5Cs (1.30) #msg-100989773
The reliance on JBI's statements in your post labeled (1) and (2) are the problem, as they are false. If there is anything to be learned from JBI, it should be: what JBI says in written documentation all too often is an altered version of reality in order to allow for a more/the most favorable interpretation...
(the following was extracted from a previous post)
... The origin of the (media credits) in question has a perplexing history to say the least. I wouldn't rely on SMB posters asserting the SEC "approved" any transaction related to them.
What every JBI proponent appears to be hanging their hat on is this statement: "... Domark’s CEO and “the consultant” stated that the SEC commented on the media credits on Domark’s or Sports Quest’s SEC filings and the valuation of $10 million, which was ultimately cleared with the SEC. ..." contained in JBI's answer to the SEC complaint.
Indeed the SEC did "comment on"/question them in Domark's 10K: "... Disclose the nature of the $10,000,000 of media content. Also disclose the transaction that resulted in the recognition of an intangible asset for media content. ..." beginning on 5/28/2009.
But Domark didn't reply (broke 2 time extensions) until 8/10/2009 by saying: "... The Company will expand its disclosure in the amended filing. See attached copies of the agreements. The Company has also reclassified the asset in the amended filing (from an intangible asset), more appropriately classified as a prepaid expense. The Company's original agreement for media was cancelled on August 13, 2008 and a new agreement was issued on same date. The new agreement included different terms and therefore the cancellation of the Company's "stock subscription receivable" on the balance sheet as of the 10Q filings for the periods ended August 31, 2008 and February 28, 2009. ..." and then subsequently filing a 10KA on 8/28/2009 which was also "commented on"/questioned by the SEC on 9/4/2009: "... Please refer to comment six in our letter dated May 28, 2009. We note that you agreed to issue stock with a market value of $3.3 million as consideration for future media production and placement. We also note that you subsequently terminated the original agreement and entered into a new agreement to issue 1,230,000 shares valued at $0.001 per share, as disclosed in Note 5 at page 19 of your Form 10-Q for the interim period ended February 28, 2009. Tell us how you applied the guidance in EITF 96-18 in determining the amount you should record as the initial measurement of the cost of the agreement for future services. Also it appears that the restricted stock was not issued at May 31, 2008. Tell why it is appropriate to record an asset prior to the issuance of the consideration. ..."
Again Domark didn't reply quickly (broke another extension), but in a 10/29/2009 response noted: "... We have reviewed the guidance of EITF 96-18 and believe the following will provide the information used for the valuation of the media credits. This EITF addresses equity instruments for acquiring, or in conjunction with selling, goods or services. The shares were issued to purchase media credits. The media credits were considered as prepaid advertising expense to be used when we identify services that we wish to advertise in the future. Please refer to the agreement previously submitted for the agreements valuation and terms for the media credits with the following response as we believe, in addition to our response, we have applied the guidance of EITF 96-18.The Company's original agreement for media was cancelled on August 13, 2008 and a new agreement was issued on same date. The new agreement included different terms and therefore the cancellation of the Company's "stock subscription receivable" on the balance sheet as of the 10Q filings for the periods ended August 31, 2008 and February 28, 2009. In addition on August 24, 2009, the Company assigned $9,997,134 of M4E media credits to 310 Holdings, Inc. in exchange for the issuance of 1,000,000 shares of 310 Holding's common stock. As a result, the Company has impaired its asset to reflect only the unused portion of advertisement as of May 31, 2009 and the value received for the credits. ..."
Ultimately, the only thing the SEC did was complete the review of Domark's 2008 10K on 1/19/2010, which was after the sale of the media credits to JBI. Both Domark's and JBI's books showed an impairment-- albeit for different reasons -- so one would have to wonder what would the SEC pursue Domark for in relation to the 2009 10K filing?
An interesting side note is the Domark agreement with 4ME for the media credits doesn't appear to allow for the transfer to JBI...
(original post with links)
Of course it is not, because:
1. The alternate counter argument is that no one invested cares. To make that a legitimate argument, one would have to hope the jury contained only direct "victims" (shareholders) solely focused on making money. Good thing our legal system is not set up that way.
2. The previous owner did not use the same accounting treatment and he showed "paying" 10 million for 10 million no matter how many times it is denied. The filings bear this out.
3. The alternate counter argument is to focus on disgorgement-- okay: show the statistics where disgorgement is originally sought and then the path to settlement retains the disgorgement piece. Duly noting the ironic argument of "nobody cares" (in 1. above) may have been a factor in SEC not pursuing it further (although I had always thought this would have been very difficult to "win" to begin with).
The fiction doesn't look strange because of how it is being constructed, yet it is fiction nonetheless.
With all due respect that is complete nonsense stocker:
1. The "asset" in question accounted for 56.49% of the current assets and was the single largest asset placed on the books. It contributed to increase the overall book value considerably as it was 43.57% of the (at that time) Share Holder's Equity.
2. It was not the same accounting that the previous owner used for the same credits. This has been explained over and over yet it continues to be ignored.
3. The "administrative" process undertaken by the SEC in resolving this matter is exactly the same as it takes in other cases; with the outcome the same as the vast majority of other cases, which includes how the issue of fraud is resolved in written documentation. The flip side to it is JBI can never deny the fraud charges.
That's the real-real story...
Sold BBY shares +13.73% gross in ~4 mos #msg-97022185
Still holding:
BGFV shares (12.05) #msg-101628953
CTHR shares (2.13) #msg-101893737
GIMO Jul 17.5Cs (1.30) #msg-100989773
UNXL shares (5.26) #msg-102561520
WFM Jun 27 38Cs (1.25) #msg-102503100
Good to see you here, thanks for posting Tec
TIFWIW but IMHO the PAWS chart looks more like a drifting/consolidation pattern than a Pincher. There are a few elements in the typical Pincher that fall a little short: the RSI 14 did not dip below the 30 and the ADX did not eclipse the 40. The interpretation I get is that it didn't "dramatically" fall into the oversold area but is under a downward trend that shows a bit of strength.
Another supplemental "rule" that I consider: the current ADX downtrend strength should be equal to or greater than the last ADX uptrend strength. The last uptrend strength in PAWS' case is @ 51.5.
Other signals that support the drift/consol: the "braiding: of TRIX and the relative "flat-lining" of inverted pairings (ChiOsc and MACD).
The current positioning in the 200MA area does suggest a good support/base potential; however, the channel combined with the Ulcer Index (UI) position suggest it is equally possible to drift a bit further. A conservative entry would wait for a break above the mid-bb and a more cautious entry would wait for a break above the upper trendline (since the last 2 breaks above mid-bb failed) IMHO
I watched it
CCJ [NYSE] Cameco Corp
Basic Materials | Industrial Metals & Minerals | Canada
Looking for a break above 20 (bid in for Jul 19Cs)
CCJ [NYSE] Cameco Corp
Basic Materials | Industrial Metals & Minerals | Canada
Looking for a break above 20 (bid in for Jul 19Cs)
UNXL [NASD] Uni-Pixel Inc
Technology | Diversified Electronics | USA
Small Float/High Short Interest
Looking for a breach/break above 5.5
(in @ 5.26)
UNXL [NASD] Uni-Pixel Inc
Technology | Diversified Electronics | USA
Small Float/High Short Interest
Looking for a breach/break above 5.5
(in @ 5.26)
Scalped JDSU Jul 11Cs +16.92% gross in 9 daze #msg-102176431
Still holding:
GIMO Jul 17.5Cs (1.30) #msg-100989773
WFM Jun 27 38Cs (1.25) #msg-102503100
BBY shares (Feb Pincher 24.55) #msg-97022185
BGFV shares (12.05) #msg-101628953
CTHR shares (2.13) #msg-101893737
Dang it-- missed it again Belated Happy Birthday & Happy Graduation
JBII Updated Chart and Animated Video (Yikes and Away)
Wow-- nice climb! Go be Gone
WFM [NASD] Whole Foods Market Inc
Services | Grocery Stores | USA
WFM [NASD] Whole Foods Market Inc
Services | Grocery Stores | USA
Good catch interloper Retries/Early looks for this week: AVD, CCJ, GNC, IMN, JDSU (posted earlier), UIS (posted earlier), WFM
What do you think/see?
(FWIW I'm in JDSU and am partial to UIS and WFM)
SREV [NASD] ServiceSource Corporation
Technology | Business Software & Services | USA
SREV [NASD] ServiceSource Corporation
Technology | Business Software & Services | USA
Morning Rj I've had such a small window to trade last few daze, did not get may call options order filled for FEYE and I couldn't find a reasonable YELP level/premium...
... I did get into JDSU Jul 11Cs & am still holding GIMO Jul 17.5Cs. I also have shares of BBY (Feb Pincher 24.55), BGFV (12.05) and CTHR (2.13)
Looking at TUMI this morning, but I believe 1 more session away at min for entry (shares given sparse option vol)
Thanks for posting!
FEYE [NASD] FireEye Inc
Technology | Application Software | USA
FEYE [NASD] FireEye Inc
Technology | Application Software | USA
JDSU [NASD] JDS Uniphase Corporation
Technology | Communication Equipment | USA
JDSU [NASD] JDS Uniphase Corporation
Technology | Communication Equipment | USA
SPLS [NASD] Staples Inc
Services | Specialty Retail, Other | USA
Inverse Pincher (anticipating a retrace off of a run-up) Uses:
Trending: Inverse PPO (15,5,7) and ADX (5 or 7) for the Pincher
Momentum: Full STO (14,3) for drop thru Power Zone; MACD (Inverted Pairing 5,15,5/15,5,5) for trend break; TRIX for 3,3/7,3 Cross-under and thru signal line; Aroon (5) for Red/Green Crossover
Money/Volume: CMF 3/14 Cross-under and thru signal line; ChiOsc (Inverted Pairing: 3,10/10,3) for Red/Green Crossover (Money Flow Out)
New Signal= VTX 7 plotted againt MACD pairing
SPLS [NASD] Staples Inc
Services | Specialty Retail, Other | USA
Inverse Pincher (anticipating a retrace off of a run-up) Uses:
Trending: Inverse PPO (15,5,7) and ADX (5 or 7) for the Pincher
Momentum: Full STO (14,3) for drop thru Power Zone; MACD (Inverted Pairing 5,15,5/15,5,5) for trend break; TRIX for 3,3/7,3 Cross-under and thru signal line; Aroon (5) for Red/Green Crossover
Money/Volume: CMF 3/14 Cross-under and thru signal line; ChiOsc (Inverted Pairing: 3,10/10,3) for Red/Green Crossover (Money Flow Out)
New Signal= VTX 7 plotted againt MACD pairing
HEAR [NASD] Parametric Sound Corporation
Technology | Communication Equipment | USA
HEAR [NASD] Parametric Sound Corporation
Technology | Communication Equipment | USA
H&W check *LAO*-- hope you and yours are well
UIS [NYSE] Unisys Corporation
Technology | Information Technology Services | USA
UIS [NYSE] Unisys Corporation
Technology | Information Technology Services | USA
lol-- we all have those moments Check out ICLD-- I took my eye off it when it failed the 1st time and to make matters worse went with CREE weekly options instead (ended up losing .90/contract on a 1.25/contract buy) #msg-101196281
On the bright side, I managed to scalp a .10/contract gain on TASR calls-- thanks for the alert #msg-101629017
(FWIW, went into CTHR shares today @ $2.13)
Great hour! congrats interloper!! UEC 1.32 +0.23 (21.10%)
CTHR [NASD] Charles & Colvard Ltd
Services | Jewelry Stores | USA
CTHR [NASD] Charles & Colvard Ltd
Services | Jewelry Stores | USA
In an alternate reality where a preferred subset of data, or the venue, and/or the adversary is the focus-- that line of reasoning may make sense...
... however, in the real world where the whole body is looked at in proper context it does not.
Let's review reality:
1. John's use of the trust fund to distribute free trading shares while simultaneously declaring "The company has no free trading shares to sell" is technically accurate in the alternate reality; but any reasonable person would say it is sleazy in the real world. Equivalent to defining "is"
2. John's hiring of Bespoke and their revealed roles of aiding in uplisting and acting as Investor Relations may afford some plausible deniability of their role in the Stock Promotion in an alternate reality; but any journeyman OTC trader understands the difference between promotion at the surface and underground. Equivalent to "slight of hand"
3. Using a United States SEC settlement structure to define what the Canadian OSC structure should look like is ridiculous in any reality. Equivalent to comparing "apples to oranges" because they are both fruit
4. John's e-mails filed as exhibits in one lawsuit are just that-- John's written words. John's deposition filed in another lawsuit is just that-- John's spoken words. The facts agreed to in the settlement combined with the denial is just that-- legal-eeze affording the defendant enough legal comfort to accept the agreement.
Combined with John's facebook and other e-mails, as well as PRs released while he was the CEO, any reasonable person in the real world should read these pieces of "evidence" and come to the conclusion that John has lied and has been deceptive on multiple occasions to the detriment of unwitting retail investors