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You're not seeing the entire situation. Stocks go from grey to pink all the time, that is NOT the case with suspended stocks sent to the greys. An SEC suspended pinky sent to the grays is a deathblow, the small handful that made it back to the pinks had a long fight to get quoted again.
There will be no "all clear" from the SEC, either they file suit against ACT or they don't. So do you think ACT's lawyer is going to come out and say "we're screwed" if they really are? Of course not, company reps and associates have tried to paint a rosy picture of everything, despite the reality of what's happened during and after the suspension. It's all lip service designed to pacify bagholders.
And yet you refuse to accept reality. ACT was just telling everyone about BP's "cry to the world for help" in their PR's? Please dude, just stop.
You're trying to play the same word game that ACT didn't win with the SEC. Good luck with your lawsuit, you're gonna need it.
The suspension immediately minimizes the risk of future investors getting ripped off. Future litigation or possible charges requires further investigation. But the potential for more people getting ripped off in the meantime is lessened while any investigation is underway. If the doors get shut for good that wouldn't be the SEC if it came to that point.
I just don't think much new money came in on a day like today. Those of us that have been around for a bit are on the ground floor, greatest risk, greatest reward, and most of us are tapped out or close to it. New (big) money is waiting on results, if they come back the way we're anticipating, our reward will be pretty big. Judging by the PR today, Handcamp results aren't far off. Time to get in and sit tight.
Glad to see my opinions are in line with some of the more versed members on this board. KATC will prove to be be just, if not more valuable than KATG. From a business standpoint I think Handcamp was the obvious choice to drill first, investors love a gold hit, even if Rusty Ridge proves to be a more valuable property. All in my opinion.
They'll drill Rusty Ridge soon, once the initial coring is done for the lab at Handcamp, look for them to go straight to RR. Could be in as little as 4-6 weeks for drill to dirt, as they've already been drilling Handcamp for 2 weeks. Look for a drill date for RR in the next week or so. All in my humble opinion of course.
I hope you're joking my fellow long. You know how it is in here. Up 20% and it's all boats 'n hoes and the pumpers get to talk. Down 20% and the sky is falling and all the bashers get to talk. This was a post dividend selloff, and yesterday was the first day the stock traded without the divy factored in. Everybody take a deep breath.
Even a diehard chartist needs to leave wiggle room for a post dividend selloff which is what we probably saw today. Where we go from here is what really counts. Unless KAT announces they're getting into real estate and Hummer dealerships, I'm still comfortable in spite of today.
I can't PM you but I completely agree and thanks for the PM. Our support levels have been pretty strong recently. I also think that if this turns out to be the typical sell off after a dividend/distribution date, it's a day that should be ignored as far as charts go, especially if there's a bounce back the next few days. Hopefully we'll get some updates on drilling soon.
I wanted to add to that we do have a history here of overthinking things, which I think is great by the way. But if shareholders by the close of business on the 16th were the ones to receive the distribution with no strings attatched, then we shouldn't be surprised at all by today's price drop.
Well those that were holding and sold today for the BVIG distribution might be very disappointed to find out they won't be receiving their shares.
Those guys haven't gone anywhere, but there's not much to say on a day like today. We acquire another property and the PPS goes down 20%. What do you say to that? Remember, this is a pink sheet stock, and will act like one until it's not, you need to remember that. If you believe in the company and the business model, then you need to ignore days like today. Pinks move 20% on nothing.
Unfortunately for present and past investors of this company, the only poser here is a company that tried to hype itself by using a disaster and got promptly fishhooked by the SEC. ACT claimed to have the cutting edge technology to help in the oil spill. I don't hear that talk anymore. Wonder why.
The fact is that for ACT to begin to restore its stock it will have to at least get off the grey sheets. The fact is for that to happen it will have to find a market maker willing to vouch for it and be willing to risk severe SEC penalties in the event that ACT doesn't play by the rules again. The possibility of finding a MM to risk these penalties for a penny stock with a track record that contains a SEC suspension and is used as the poster child of oil spill scams are slim at best. Realistically, it's worse than slim. I would call that overwhelming odds.
The possible legal troubles I'm referring to aren't in regards to any forthcoming newsletter. I'm referring to everything that has been done thus far by ACT. It's my opinion that there's a chance the SEC could file suit against ACT, or there could be a future class action against ACT. Sorry if I don't think ACT is going to recover from this. ACT's future legitamacy is against overwhelming odds.
He's saying that ACT has a fiduciary duty to all its shareholders, not just those that signed up for a newsletter. Any news that will possibly affect share price is supposed to be released for all to see. If that kind of information is released to select shareholders, that would be considered insider trading, something the SEC frowns upon. It all comes down to fiduciary duty. IMO ACT's legal troubles aren't over.
This is a grey sheet stock, there are no market makers, which means no quotes. It's trading in the dark.
Isn't that the truth. Before the suspension a BP cleanup contract was all Kidder could talk about, even going so far as to make one appear to be inevitable. Now they won't even hint at a cleanup contract, and it almost appears as if they were using a disaster to sell stock......hmmm, I guess that's why the "evil" SEC became involved.
There was a time I believed in this company and thought they had value beyond any oil cleanup contract, but it would appear that they got caught in a lie, and the damage has been done, and probably won't be undone for a long time, if at all.
Yes, I would definitely agree you are taking a big risk by selling today, as IMO there's not much downside from this PPS, and you are 100% correct that they are your shares to do as you see fit. It's just that I, with a few others, have taken a note of your history that your comments reflect your current position in this stock. Just my observation.
As I previously said, I don't have a problem if you want to trade this stock. We all have our own methods. Just don't dump shares like you did today, and then come on here and try to talk negatively about this stock, we both know what your play was today. That being said, I'm betting on a green day tomorrow.
There's a place for both traders and longs.
I've done both and personally I don't feel comfortable trading this stock at this point in time, but if guys can play it right with KATX more power to them, they have more guts than I have right now.
My prediction is based on my DD, and I'll stand by it, if not .3 then damn close to it. You're going to see a lot of buying come in the last couple days before the cutoff date, I'd highly recommend to anyone looking to use some powder to pull the trigger tomorrow. It'll be better than chasing it next week IMO.
I really like where this company is going, and am waiting to get back in, but it seems that the handling of the stock leaves something to be desired. You can have a good company with dog stock through too much dillution. You would hope Prior does a buyback at some point soon, because that's what needs to happen. If I recall they issued a 6 month moratorium on any further dilution a couple months back, for starters it would help if that were extended.
Even though this is a great long term play, we are still on the pinks which is a haven for flippers. They took their 20% they made yesterday to the bank. They don't do DD, they look for a stock with a run going, ride it out, and sell when it's over. We'll be juuust fine.
Do we know for sure yet that this distribution exceeds 25%? Who would give the official word if it does? Sorry if this has been answered but I don't have time right now to page through all the replies. I'm thinkin this info should probably be a sticky, as this is pretty important info. for everyone buying in.
Ah, the "big seller" flipper tactic. At this point you just have to laugh. Littlerichie, if you're looking to flip then just do it, but the bs "big seller" card is a joke, try something new like "alien attack at Handcamp imminent".
If I could tell you for sure where this stock will be I wouldn't have to go to work. I'd guess early-mid next week for a .30 break.
Wow, fortunately pulled my money out to chase another opportunity. I thought the .0014's I got were a good deal. Now .0008's seem like a screaming deal but it seems like there's a cloud of discontentment over this stock right now. If what's said is true about Prior continuously giving an insider discounted stock, this thing isn't going to take off any time soon. Hopefully he gives some transparency or a lot of money is going to stay on the sidelines.
Hmmmm, that's a curveball. One more reason to go long I guess. I wonder who gives you the official "nod" if 25% is exceeded with the dividend. I'm assuming the FINRA.
Hahaha, of course you do, you and gump have been saying katx and bvig are worthless for some time now. I hope when this stock takes off past a buck you'll stick around to take your lumps. Maybe you guys can look around and tell me what other "worthless" stocks there are out there and I'll be a buyer.
There's no cluster here, just gotta keep your eye on the ball. Buy KATX now to get the free restricted shares of BVIG. BVIG might be a great deal to buy into further depending on where PPS is when the dust settles. Either way all the shares you hold in KATX and BVIG are eventually going to be morphed into one company, which will be called KAT Copper (KATC). It's not complicated, just a lot being said about it.
Uh, no. For it to reach .07-.08 it would have to break a few support areas, a bad PR, such as "we accidentally drilled in the wrong spot" could send it that low, but no PR this week isn't sending it that low. The approaching divy date alone will keep it above that. But you've already shown your hand with stating "I will be buying back in...."
You mean mining stocks are about speculation? Sounds like a bunch of nonsense. Ken paid $278k for that pile of dirt and that's all it'll ever be worth, gold or no gold..... I wonder if Gump's ever heard of UXG and what happened to the stock when they released what they found? .36 to a high of 10.10 exactly one year later. I'm not saying we're going to see a stock price of $10, but even if there's only a conservative find, it'll be well into the dollars.
Accumulation is a very good thing at various price levels. Different people get in and out on various price levels, which is healthy for the stock. Although in my opinion the window is closing for the next run up to the next trading level.
I'm not sure where to start answering, Ken paid $287,000 for a pile of dirt, to speculate what the BVIG stock price is worth is speculating what the ground is worth. We don't know either, and your math is over simplistic. As far as funding goes, there are a few possibilities, but a joint venture is the most probable. As far as KATX not looking good at .16? I'll let the market argue with you over the next month on that.
.00178? Because it's that easy to come up with a PPS for BVIG.... please, sometimes you look like you know what you're talking about, then you post crap like this. It's just as ignorant as me saying BVIG is going to be a ten dollar stock in a month. Truth is until we get core samples back we don't have a real value on the property.
Didn't realize we were taking about the here and now, then no, selling katx to buy bvig would not be a sound decision, as we have no idea of the true value of a share of bvig yet.
I think it all depends on where BVIG is valued when the dust settles. I think the two stocks will be comparably valued as a merger gets closer for obvious reasons. This could put either company at undervalued depending on where the share prices go from here.