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I bought today also, .15 held very well despite some pretty strong downward pressure, and had a stong finish to boot. Looking up from here IMO.
You'll pay the income tax when you sell. As far as cost basis, you might have some wiggle room if you find a way to show that the cost of the dividend was built into the share of katx when you bought, I'm not a tax code guru, and I think it'd be hard to prove. But it might be an angle.
If the core samples come back the way many of us that have researched the area think are going to come back, we'll look back and laugh about when we would fret over a penny flucuation during the day. Here's to gold, copper, dividends! Have a safe and tipsy 4th!!
Just did a little ask slappin a little bit ago, didn't think I'd have the opportunity to still buy down here first week of July, so I'd like to thank NITE for giving me the opportunity to do so. That was powder that would've went in the .2X range.
Use this opportunity to pick up a few more cheapies. With drilling and the divy date coming it's not going to be down here for much longer.
I would be surprised if drilling doesn't start by mid week if they get the hardware up this weekend. It could be sooner if it's already up there ready to go. Like I said before, KAT has a thing with Friday PR's. I just hope it doesn't come first thing so I might be able to pick up a couple more down in the .15 range. All IMO.
That's not the definition of "misleading". Misleading involves an intent to deceive. There was no deceiving here, they found some new potential drill targets and wanted to reevaluate the target range. That's it, nothing more, nothing less.
I have funds clearing tomorrow and I really hope this opens around .15. I'll be able to buy more shares than I had figured, but I know how KAT likes the Friday PRs.
Double post.
That's what makes me like microcap companies with huge potential like KAT even more. On the big boards there's going to be 5 losers for every 1 gainer for the next couple of months. Eventually more and more people will see that if you're going to make money in this market, microcap will give you a better chance than large cap. IMO of course.
Yea, I think KAT jumped the gun a little bit with a definite drilling date, always leave wiggle room, I would've set target dates, as in more than one. But if these properties prove to be mineral rich, big money will come as time goes on. It's just small retail money in this stock right now.
Then I'd suggest to be patient and wait, or get out if you think this is a typical penny play, because if it is its probably run its course with a market cap of over 50 million. It's going to be years before we know the true value of these properties. Even the Vale refinery is a looong way off from being completed. I know stocks are usually about instant gratification but preparing a property for mining is a process and evaluating new targets is not a bad thing. If I were paying for the boring out of my pocket I'd make sure I'm drilling in the best possible locations.
Speaking of experts, are you the resident drilling expert? In exploration (which is what this company does if you haven't been paying attention) new areas are constantly being evaluated. It's important that drilling targets be carefully selected and these targets can change from previously planned locations. It's a little more involved than poking a stick in the ground and seeing what's in the hole. But I'm guessing you already knew that, perhaps you have another agenda in mind.
Aaaand look at it fall back to .005. Were you able to sucker someone into taking some of your shares? You pumpers really don't have any shame do you.
I sold because this stock isn't going anywhere, there's not even a market for it. It's not returning to the pinks, they're not getting a cleanup contract, a merger won't save them, and today's "PR" is nothing we didn't already know, this is the old PR about the Texas wells just wrapped up in a new package. Go ahead and blow all your money still blindly following this company, but don't sucker new investors into thinking this company is something it's not.
Thanks, I guess honor is all ACT left me with. I hope every last person gets out of this stock with some cash left. Mostly those who were scammed by the lying PRs ACT put out, because I know a lot of people bought in because of them. Then this stock can go to .0000 where it belongs.
Now that the SEC has added some transparency to this company, maybe the DOJ can check out ACLH/BCLE/BOCL's offices.
Every move has been timed thus far. A good CEO builds a company on these moves. There will be something else in the works just as people might think about profit taking after the dividend has been awarded. Short term investors will probably get out, but that's what they always do, and that shouldn't concern longs.
The more I've researched the more I've seen that a merger isn't going to be the end of ACT's problems. If ACT were to merge with BOCL the new company would have to provide even more information than ACT didn't want to give to the SEC, the information would more than likely show you a "new" profitless company with 1 employee. It also seems that this ACT suspension has effected other cleanup stocks like BOCL, I think they had a day last week where there were no trades.
ACT has no chance at getting relisted in 4 to 6 weeks, it probably won't even happen in 4 to 6 months. I did my DD after the suspension and it is a long struggle for a pink sheet that was suspended to get off the greys. Market makers aren't willing to put their necks on the line for a questionable company like ACT. The SEC basically tells the market maker that if they vouch for ACT and ACT pulls some BS that the market maker can be held legally accountable. That's why pretty much 99% of these suspended stocks never make it off the greys.
Good CEO's will be one or two steps ahead of the game to keep people attracted to the next level of earning potential.
The price went up with the drilling announcement, will go up as we approach the divy date, to stop a potential sell off after the divy date drill results will be announced shortly, and who knows what next. Always keeping investors in the game waiting for the next level up. That was a big nod to investors with the 6 month restriction for people like us and a 12 month for company officers, this will keep the PPS of KATG up. It almost seems like this guy knows what he's doing.
I did invest in this stock, and the ride cost me $4k, I think that gives me a right to say what I want about this company. They're a scam at worst, and horribly mismanaged at best. Either way they acted recklessly and it cost a lot of people a lot of money, and now are being used as the poster child for oil spill stock scams. Not good.
I've posted this before but I just wanted you to realize that of the companies that were suspended and sent to the greys, only a very small handful ever made it out, and it took years, not months or weeks to make it back. If you really believe in this company you can easily get out, make some money, and then get back in for the same PPS or probably lower. Like was mentioned, the volume is drying up. If ACT remains quiet only sellers will be left, and whatever buyers are out there will want to see this stock get much lower than .005 before they try to get in for a quick potential lottery play. In the end it is your money, and I hope you can eventually leave with something, it just almost hurts to still hear talk of BP contracts, returning to pink sheets or huge press releases when reality is screaming that this company never gave a rip about investors.
I wish I could say the same, blew all my "discretionary spending" money when it was at 12-12.5.
A date will be set, if you don't have KATX shares by that date, you missed the boat.
Because PPS usually goes down before a dividend and drilling results.............keep dreaming "smart" money. I hope you're not "that guy" who thought it was a good idea to short this stock, on second thought, now that I think about it, I hope you are.
Wouldn't be surprised if the divy date is set in the next week. Should be a nice steady increase in PPS towards the date as the value of the divy should be reflected in the PPS.
My opinion is that they are going with Compushare in preparation for expanding their investor base. A possible move to the big boards could be speculated in the long term. It might be a ways off yet, but it would appear some pieces to the puzzle are being moved around. Should be interesting.
We're up over 45% the last 3 trading days. Everyone should be happy with a pullback under 5%, a couple days at this level will provide some nice consolodation. I think you'll have a nice little end of week run yet though.
You can think what you want but the paperwork was filed through the state of Nevada, if you look on here a few weeks back there was a link to it. A day after the suspension they filed more paperwork to axe the R/S, believe there was a link to that also.
There was a R/S coming. The paper was done on it, but was cancelled after they were suspended. Not bashing, R/S or not, it's all academic at this point anyway.
I stand corrected. He knew what a T/A was but didn't know if the T/A was gagged or not and couldn't figure out how to get the structure numbers from the T/A, referring you to a pink sheet website. Sounds like he didn't do a very good job answering your question. He might be a nice guy but either he's a part of this circus or he's being kept in the dark. In a situation that has called for ACT to be transparent, they've turned off the lights.
They haven't issued a PR since the beginning of the suspension. A good company values their shareholders and communicates with them, has IR personnel that has a clue (what's a T/A? Wow), doesn't lie in their press releases, and doesn't ignore the SEC when they come knocking, hoping it'll all go away. If a guy wants to risk his money trying to flip this stock, so be it, but I don't want to see another sucker like me risking his hard earned cash believing that this company is something that it's not. If you did some add'l DD since the suspension you would see that the time it takes for a suspended stock to go from the grays back to the pinks is measured in years, not months or weeks.
My point was if ACT cared about current shareholders, they would throw you a bone. I know they don't care about me, they already got my money, and it looks like they don't care about anybody that has money with them right now, because you're going to watch it slowly disappear. Maybe when they finally shake down all the current investors they can release a "meaty" PR a few months from now to rope in some new suckers.
That was my main reason for dumping when I did. If they really cared about shareholders they would've been in communication with them during and immediately after the suspension. Shareholders aren't waiting for a PR saying they got a contract, they're waiting on a PR that says ACT is moving forward, which looks like they aren't.
I thought the same thing with some of the posters on here, but now it seems that the "bashers" point of view on the company was right as it stands right now. After the failed conference calls, the claimed ignorance about the SEC trying to contact them even though they released a revised PR the morning of the suspension, IR saying this would open on the pinks, and now complete silence since the suspension. I'm very skeptical about ACT being legit. Either it's a scam or a horribly mismanaged company, neither of which I'd invest my hard earned money in.
Oh wait, I already did, what do you think of my new $4,000 haircut?
I believe the company knew that they had exaggerated in the PR's. That's why you had the "revised PR" the morning of the suspension, which tells you that they probably knew about the SEC trying to contact them. I tried to dismiss it also as "bashers being bashers", but what sealed the deal for me was the fact they haven't had a single thing to say to their shareholders since the beginning of the suspension. It's been 3 weeks now, how long does it take for you to get a truthful PR lined up? If they truly cared about their shareholders they would've been in contact with them during and after the suspension.
I agree that a contract (which seems unlikely at this point) or a really good PR would help the SP, but the question becomes how long are you willing to wait, and are people going to be willing to risk ANY money on this stock the more days that pass without news from the company. Pinkies are like playing in traffic, but putting your money in this stock as it stands right now is like volunteering to be the speedbump. I wish nothing but the best for those still involved, I'm still just a little pissed at ACT right now for the way they've handled all this.
I'm sure they know that current shareholders are pissed. A good company would do everything it could to immediately try to resolve shareholder's issues. In this case it should've been done with a PR stating the facts immediately after the suspension. Since there was no PR your gut should tell you that the facts were not good.
From earlier estimates I'd say we have another week or so before we hear how the wells are doing. Original estimates put the report at the end of June. If the news is positive this will move very fast. I think the float is pretty low. So when it moves, it'll move quick.
That's what doesn't make sense to me. ACT shareholders have taken it in the teeth and their company reputation is being shot to hell and ACT has nothing to say a week later? Don't they feel any allegiance to their shareholders? I gave them until today to say something, but their silence spoke to me better than any PR could. I hope I'm wrong for the sake of those still in this.