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With everything going on with this company there isn't much downside right now as far as PPS is concerned. I'm not quite an OWVI millionaire yet as I only went half in, but I'm ready to pull the trigger on the other half if this starts to take off or the PPS dips to a level I can't pass up.
That's what I was thinking, I was really hoping something would come out over the weekend or first thing today. That's why I pulled the plug today, because there IS a reason that I can think of why they wouldn't be saying anything, and that would be if they are preparing for litigation against them. If they know that they have done something illegal, they're probably going to keep their mouth shut.
I was at least looking for an "ACT has cooperated fully with the SEC and believes ACT will be found to have done no wrong doing" or "hey, we got a little excited with our PR's, but we're moving forward" type PR. The fact that there has been nothing but silence from the company does not sit well with me, especially while the PPS tanks. If they wait until they find a MM to vouch for them or a contract announcement the PPS could be in triple zero territory by then at this rate.
A wise man who's a lot wealthier than I am once told me "believe in the company, but bet on the CEO". It seems like Prior is moving this company in a very positive direction. Once this stock starts moving up and getting the attention it deserves the stock will reflect that. I'm in at .0014.
Sorry guys I'm out.
It's my personal opinion that this company is legitimate. However, with the way ACT has handled everything up to the suspension and now the silence after the suspension gives me a very bad vibe. The silence is deafening right now. I fully expected a PR to at least humor stockholders shortly after the suspension and was very suprised that we didn't get anything. Good luck to the hardcore believers, but unless something happens, this stock is going to slide 10-20% a day until something really good happens. I had to stop the bleeding.
That would be the ultimate definition of irony, and can see that happening also, bringing attention to the SEC for or against ACT would put them on the SEC's map. Shame on ACT for not being prepared for the onslaught of attention they received when they were in a sense asking for it. It kills me to think that ACT's sloppiness is overshadowing the potential value of their product. Obviously those with a stake in the company are the ones paying for it right now. I tried to cut my losses and get back in lower but couldn't get out. I'm to the point now where I'm going to wait it out. I still think ACT has a viable and extremely profitable product, now it's a matter of paperwork.
You can't deny the fact that there was pressure against ACT succeeding. If you can't admit that we have nothing to talk about. If enough people contact an authority about possible fraudulant activity that authority will have to act, whether the information that was given was correct or not. I'm sure many of the people that called the SEC did so for their own personal gain. It's been done before, it'll be done again. I also stated ACT was to blame for not being prepared for the attention they were being given over this oil spill, they were just plain sloppy. Now we see if they can rebound from this or not. It'll be an interesting month.
I think it was a combination of "certain" people not wanting to see ACT succeed and ACT not being prepared for the popularity that was given it by investors and the fed. gov't. Hopefully ACT can get it togather because the need for what they have is still there and will continue to be there for a long time.
That's the great thing about energy stocks. When the company finds what they're looking for, you find what you're looking for. From what the company reported we should find out how the wells are doing in the next couple weeks. Depending on the oil and gas findings .06 wouldn't be a problem. I've seen petro stocks jump 100-200% on pure speculation, something this stock DIDN'T do. Great price to get in at, still near the 52 week low.
Showing pink sheet on TDA. Not gonna get too excited but some people will have some explaining to do if it does open pink with how much was said about this without a doubt opening grey.
Technically speaking I think ACT can request to suspend trading of their stock until further notice. Possible motives would be until a 211 is filed or a merger is in the works. Correct me if I'm wrong.
Would there be any negative stock impact for ACT shareholders if there was a merger with someone of the likes of BOCL or BCLE?
I thought of your theory for the "new ACLH" when I saw BCLE price go up over 50% today. Maybe coincidence, maybe not. But considering that stock has done nothing for the past month and all of the sudden rockets the day before ACT starts trading again, it makes you think. If it does I just hope it turns out decent for ACT shareholders.
Improbable? Yes. Impossible? No.
If this opens on the pinks or gets there very soon with very good PR I think the price stays between 3.5-4.5 with slight fluctuations either way. If a contract comes I can see an initial hit to .25-.30 with the price settling in the low .20's to high teens, which could turn into a support. All speculative of course. On the other hand, if ACT doesn't have anything good to report, with no contract, no return to pinks, it will die a slow death.
Seems this company has some solid projects going on. I've seen energy stocks take off on less than this. Any idea when we find out how the wells are producing?
That clears it up, thanks.
This is some of the info. I've been digging through. The first is from SEC's website.
Will trading automatically resume after ten days?
It depends on the market where the stock trades. Different rules apply in different markets.
For stocks that trade in the OTC or the over-the-counter market, trading does not automatically resume when a suspension ends. (The OTC market includes the Bulletin Board and the Pink Sheets.) Before trading can resume for OTC stocks, SEC regulations require a broker-dealer to review information about a company before publishing a quote. If a broker-dealer does not have confidence that a company's financial statements are current and accurate, especially in light of the questions raised by the SEC, then a broker-dealer may not publish a quote for the company's stock.
What happens when trading in a Pink Sheet security is suspended by the SEC?
SEC suspensions last 10 days for OTC securities. When a security is suspended, Pink Sheets removes all market makers and their quotes from the system and displays a "Halted/Suspended" message. After 10 days, market makers may re-enter the stock if they comply with Rule 15c2-11, which requires filing a new From 211, which must include the issuers' current financial information.
Somebody please clear this up for me. I've been reading SEC regs regarding pink sheets and it states that a pink sheet stock needs a broker to review it's financials before a quote published for a stock after a suspension, and that if that quote isn't published the stock won't resume trading. My question is if this is what happens how can ACT trade period without getting a MM to publish a quote after reviewing financials?
ACT could very well get a contract, but the big thing will be returning to the pinks for the needed stock exposure. I still stand by why I went with ACT (if it's proved they have the goods to deliver), big money could be made with cleaning up this mess, but the staying earning potential will be with processing oil sands and increasing efficiency in existing wells. That demand won't go away with the oil spill.
It's not a matter of SEC being happy. Whether this is the last we hear of the SEC being involved or not ACT has to file financials with a MM to get listed on the pinks, and the MM has to vouch for ACT. If they are able to do so and there is transparency in ACT's business, it could do wonders for the stock with some solid earnings. If not, this stock will stay on the grays and eventually will be forgotten, hopefully along with my memory of investing in this company.
The only way this won't trade grey is if a MM pushes through the paperwork in time, highly unlikely from what my research tells me. It's a possibility it will trade pink again but unlikely by June 9. As far as selling on the 9th, you'll be out but will without a doubt take a hit, and holding for a bounce could pay off. All depends on if ACT brings some good news to the table.
Yea, I had to do the math a few times to make sure it was right, because to say this stock is undervalued is quite the understatement. I'd say it's undervalued to the point that if OWVI posts solid earnings coming up, along with a little attention from the market, there'll be a pretty big run, and I think "big run" could also be an understatement.
Maybe my math is off, but if you use the current 4.2M market cap versus 37.6M shares, the stock wouldn't be considered overvalued until just over .11, not .01, if I'm off somebody please correct me, because with solid earnings even with the current market cap, this stock could be a potential 50 bagger in theory before it would reach "overvalued" territory.
Does anyone have an idea of how many total shares are out?
So in reality the shorts had a lot to lose by this stock going where we all knew it was going to go. It wasn't a matter of up, it was a matter of how high. Now the SEC hurts the longs but negates the position taken by shorts? That's BS in every sense of the word. The more I learn about the SEC's rules the more I see the possiblility that some underhanded BS took place.
Interesting thought. With the shorting that was going on, shorts are out a lot of cash if ACT doesn't trade again.
So why would they file for a R/S at all if this was nothing more than a scam? If the idea was to pump and dump as much stock as possible, a split would've been more helpful to their plan. More shares to pump and dump, more potential revenue through stock sales.
Another thing that's bugged me.
If ACT is all smoke and mirrors, why the application for the reverese split? If the plan in this scam was to pump and sell as much stock as possible, a split would've been more appropriate. If anyone can shed some light on that I'd appreciate it.
That's what I've emphasized before, easy money will be IF a cleanup contract comes, but the staying earning potential would be to make existing wells more efficient and ACT's potential involvment in processing the vast deposits of untapped oil sands here in North America.
With that said, if this company is a scam and they don't have a product that does any of the above...well, we all know how this ends for us shareholders. If this company IS the real deal and does have the product for the job, then ACT will live to fight another day, whether its on its own, merger, buyout etc... I guess I'll just have to hold a little longer than I anticipated.
If ACT has the technology it says it has and everything is verified by the SEC, the stock will resemble that, maybe not in a week, month, or even a year, but it eventually will, and I can afford to hold as long as it takes for that to happen.
This isn't a halt, it's a suspension. If the suspension lasts more than 4 days the stock opens back on the greys. Didn't want to believe it but that's straight from the SEC's website.
How about THIS conspiracy.....
Let's say ACT has the technology and the know how. BP decides instead of purchasing the product, why not railroad a company into the ground (ACT), then purchase it when it is at its most vulerable. The scenario has been played out before, and don't think that a company with the clout of BP couldn't pull it off. It's a conspiracy I know, but I have some time on my hands until June 9.
Pretty much. You'd think if they were cleared they would be reinstated to their last trading status. Instead the SEC "protects" us by sending our money to the grey sheets even if no wrongdoing is found. Makes a whole lotta sense, like much of our gov't.
The merger with BOCL has been touched on in the past, and yes, from the way things look, it would be a life saver for the company and its shareholders, and I'm hoping ACT see's this. ACT's name has been damaged even if the accusations brought by the SEC are 100% unfounded. Hopefully ACT protects it's share holders and at least our shares can have worth.
Well judging by the info posted, I'm guessing the best thing that can happen to ACT is a merger with another publicly traded company in the field, I believe someone here touched on that before this debacle.
What's the "piggyback rule" I've heard mentioned a couple of times, could this be applicable to ACT?
Riddle me this.
What I can't understand is when/if the SEC is satisfied with it's finding, why would the stock be sent to the grey sheets? That's a damned if you do, damned if you don't scenario. If it's true hopefully they can get a MM to sign off on the stock to put it back on pinks. If the SEC is here to protect investors, they should let the stock continue trading in its current listing status if they find no wrong doing by the company.
Great post, hopefully they can satisfy the SEC and move on.
I'll also be holding, to say this company/stock is doomed is premature at this point. If the worst is true there's no point in selling, either I can write it all off as a loss or take a chance that ACT becomes a profitable business. With the latter at least my money is still in play. If this company actually does end up landing a contract in the next couple of weeks as well as being SEC compliant, we'll be alright.
Doesn't sound like the suspension can be lifted early. But this gives the SEC time to conduct a thorough investigation to expose a scam or for ACT to prove that they aren't. It's good for everyone involved.