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Would you add a reasonable expectation that the company will emerge from bankruptcy to that list? It would seem that most of the better Q plays seem to have two things going for them, significant tangible assets and a reasonable probability that they will emerge from bankruptcy. Weather the commons survive the process is another matter, but these criteria seem to help.
As sort of an aside, I'd like to say that I've been very impressed with the DD that folks like yourself, Madclown, and others have shared on these plays. The frank discussion of assets, MORs, items on the docket, etc. really helps paint a better picture of what is going on.
As for the Q mentioned that started this thread, well, I thought the pictures summed it up! Q or not, folks slowly accumulating then pumping a few high points (or outright lies) is dishonest at best and possibly even criminal.
Maybe in addition to deleting posts and putting folks in Ihub jail they could add a permanent "snakeoil" tag to the posters that are trying to sell it.
That must have required some perfectly timed entry and exit points considering the steady downhill run this has had for the last year.
You won't get a response, Raiders is in Ihub jail. I don't blame where this is at on him. I choose to buy and sell on my own, not based on what a nickname on a message board says. The think I can find fault in is posting about working with the company directly and then disappearing almost entirely when the PPS drops. He may be on the level, but it gives everything a fly-by-night feel.
Check out rule 6650:
http://www.nyse.com/pdfs/FINRA_Rule_6650.pdf
I think it clears up what everyone is talking about here. Oh, and to give credit where it's due, I didn't know about 6650 until K_trader put a link to it a while back.
I put in a high sell order for just that reason. Odds are I will sell some if this runs hard monday, but I can always change the order to do that.
While I understand the logic of putting in a high bid order, I don't know how much it helps. There seems to be an almost blatant disregard for SEC rules in pennyland. It couldn't hurt though, so I do it.
Question: How is it that "fully reporting" companies sometimes are well behind in filings, have filed no 15-12g, yet don't have an E at the end of their ticker?
Um, maybe the SEC's site?
http://www.sec.gov/edgar/searchedgar/webusers.htm
Don't take offence at this, but there are certain basic things that everyone should know before they start any investing/trading. Where to find information is probably number one, with interpreting that information being a close but very crucial second.
I personally keep a database with all the CIK numbers of the stocks I'm watching just so I can easily check for updated filings.
So what would the ticker be for this company?
Yeah, its a trick question.
TDA just started showing level 2 for pinks/OTC for me not too long ago. The weird thing is, I didn't see any sort of announcement. Someone on Ihub mentioned it so I checked it out, and there it was.
There were two, I knocked out one with 200,000 shares.
That's a great move for Office Depot to make. I work in the construction industry, and two of the biggest issues discussed in the trade magazines are LEED compliance and energy efficiency.
Just to put this is perspective, if INBG were to go to .50, it would have a higher market cap than Office Depot. As much as I'd love to push that easy button, I just don't see it happening in the immediate future. I would say .02 - .05 is certainly possible, but more than that seems to be pure fantasy. Having said that, I'd be happy to be proven dead wrong.
People can and do short pinks. The amount of shorting is what seems to be difficult to determine. As far as I can tell, there really isn't a reliable clearinghouse of information. My best guess is that there is quite a bit less shorting than some people assume. Considering the level of volatility down here, it'd take some brass ones to take a short position that does anything other than cover you a$$.
In short (pun intended) I tend to factor potential shorting in as rumor rather than news.
I have to second Wally on that. If you look at the last quarterly report, you see this:
2008 authorized: 1,000,000,000 issued: 22,423,692
2009 authorized: 200,000,000 issued: 69,535,704
Significantly more shares outstanding, but quite a reduction in authorized shares.
2010 (June): authorized: 200,000,000 issued:86,942,566
Pretty reasonable increases for a new company. I checked the Delaware SOS site, and it says they are "not in good standing" which concerns me a bit (they probably are just late on some filings/fees), but why that is I don't know. Delaware charges fees for more information: "Additional Information is available for a fee. You can retrieve Status for a fee of $10.00 or more detailed information including current franchise tax assessment, current filing history and more for a fee of $20.00.".
I believe an increase in authorized shares would require a filing with them. If I'm wrong someone can correct me on that.
It seems to me that when they generate revenue and build a customer base that they could issue the entire 200,000,000 and still be trading higher than they are now.
Essentially I'd like to see more press releases (like we've gotten lately) just so we know what is happening day to day, along with some revenue growth. That and a return to regular filings with the SEC. The quarterly reports on pinksheets are fine, but I really believe a fully reporting company would help bring in more investors.
The way I see it, all the preferred/capital trust stocks in this Q are going to be jerked around until we come close to some sort of resolution. They are a bit further up the food chain, but you never know how this will pan out.
Seems criminal, doesn't it?
As I see it, this is a big move. You can't read too much into this, but being in the testing phase with equipment upgrades makes me think that they either recieved some needed funds, or have good reason to think positive results on these tests will secure the funds to begin operations.
I wonder if anyone covering the elections would like to take a look at Mimi Walters form 700 ( http://www.fppc.ca.gov/form700/legislature/senate/Walters_Mimi.pdf ) , some of the notes from Flemsnopes' post ( http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53089140 ), and MSTF's filings at sec.gov and see that all this company has done since the 15-12g is dump shares. California treasurer? You've got to be kidding me.
So you fleece the company, keep it in the cellar, continue to issue stock and shaft the common shareholder.
Actually, it's not out of the realm of possibility.
http://www.sec.gov/rules/sro/finra/2010/34-61677.pdf
CTCJ several filings in the past month. New accountant and form D.
FDSM filed 15-12G on 7/30.
KSSH now officially a shell. 8-K filed on 5/28.
MGHL filed 10-Q on 7/30.
Just some things I came across while updating my notes.
If only MSTF had the ear of someone with some political pull they might be able to save themselves without massive dilution...
Oh wait, they do.
I've said it before and I'll say it again, it'd take a set of brass ones to include a fake pr in an SEC filing. Like everyone else I'd like to get some more details, but they have to be careful about what is said. Again, the SEC doesn't react well to false or unverifiable claims.
Now if they'd only take a closer look at manipulation down here in pennyland....
It'd be nice to see a bid on this. Of course, that would take the company doing something besides filing another form D. As it stands, that is ALL they have done in the last year.
Oh no, don't do that. People will think it's BS just because they've heard it so many times. Once this holds steady in the dollar range and that kind of move is actually in the works, then talk about it.
I have to agree with you there. Anything that is .00X will look just fine to me. Some folks will bail on a small pop due to speculation, others will wait to see what happens when (and if) we get merger news, and still others will wait for numbers on what we have after (and again, if there is) the merger.
Hopefully the whole deal goes through and everybody's happy.
The guy should have known that something was fishy about a company called North and Noriega enterprises.
I bumped it to .0046, then the rest of it filled.
They've gone up above and down below my .0045 order twice now and haven't filled any of it.
Edit: hell, I don't even see it on level 2!
Well, learn moderation anyway. Let's face it, a cellared pinky probably has worse odds than rolling a hard 8 in craps, but it's still fun to try once in a while!
Dumb luck isn't due diligence, but it's fun when it pans out.
Right...that'll happen. I myself have been saddled with a .0001 no bid POS for almost two years now, but I don't expect any miracles. Actually my few hundred minus transaction costs would probably be a miracle at this point. Eh, live and learn.
Much better. And let me guess, followed by something like "I saw a bunch of 200 trades from NITE! Shorty's gonna burn!!!!"
Elliot wave doom and gloom:
http://www.nytimes.com/2010/07/04/your-money/04stra.html?_r=1
Oddly enough, I was just starting to re-read Frost and Prechter's book. I'm still not really sure if Elliot Wave theory is totally valid, valid only if applied properly, or pure bunk . To me it's almost like the idea of celebrities dying in threes. Sure they do, if you count to three and start over.
Anyone else have thoughts on this?
Edit: Full disclosure, I'm not so dedicated that I was researching this on a Sunday night. I came across the link on Fark.
8-K from earlier this month raised A/S to 100,000,000, approved 5,000,000 shares of blank check preferred stock, named directors, approved a R/S (ratio ranging from 1:2 to 1:20) and moved from New Jersey to Delaware.
Talk about a sleeper. Authorized is 50,000,000, the Outstanding is 1,610,000, and this NEVER trades. The company has some cash on hand and is current with filings. Interesting.
No need to worry, a few splits and that can be right down to a reasonable level.
I had to read that twice to make sure that was what it said. Wow...really? That is the big pump?
The bid upticked to .13. Still no volume though. Probably just somebody fishing.
Does everyone have there space helmets on?!? The moon is fast approaching.
Edit: The reply..."Hopefully that silly comment is based on something. "