Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
MMTE:
WINSTON-SALEM, NC -- (MARKET WIRE) -- 07/31/08 -- Mammoth Energy Group, Inc. (PINKSHEETS: MMTE) is pleased to announce today that drilling on its first Oklahoma well has been successful. The well encountered a good show of oil and gas at 440 feet and a second zone at 510 feet. The well was logged and appears to have a 25-foot thick formation with the potential presence of hydrocarbons from approximately 430 feet to 445 feet. The log also suggests that the second zone has hydrocarbons from approximately 515 feet to 520 feet. The company has immediately elected to move on to completion of the well and will begin the process of putting the well into commercial production.
The Drilling rig is currently being moved to the company's second well location on this lease and is anticipating a 'spud' date of Friday August 1, 2008. "We seem to be off to a very good start on our Oklahoma venture and are looking forward to continuing our operations there," stated Joe Overcash, President of Mammoth. "Once we know the commercial production from the wells, we can begin to forecast on ongoing results."
NUBV: Losing the $0.0001's
NUBV: way lower OS than FFGO; nice volume. I think they claimed a share buy back some time ago. Anyways another $100.00 lotto.
I guess the word "often" can be disputed. Suffice it to say it has happened often enough to give me a sore butt from kicking it after heading for the exit on pre small R/Ss and missing out on some nice profits. Admittedly these usually revert to pre split prices in time.
Bought 1400 to even out my pre split. Big spender I know but, even that 1400 share is 4 times the ten day average volume lol.
On small splits like that they quite often head north. For example I bought a pre 1 for 50 split of a stock and right now it's sitting at double what I paid. I knew the split was forthcoming and there was a big drop in price so I snapped up a few; didn't risk the farm though.
Can't figure why the ask side isn't thinning with the volume.
Picked up some three's; that an ooops or a yeehaw?
If you check out Stockwatch and decide to try it; don't do it now. You'll probably see the warning but, they charge you for the whole month; so wait for the beginning of August. Mind you maybe they'll give you a trial but, you'd still have exchange fees.
Gotta have L2 me thinks.
I may try Stockwatch. I have their basic for $5.95 and I think their pricing is similar to Alphatrade for a trader package with L2.
I see they have free thirty day trial. Yowsay check the price though; double Alphatrade.
Mine's working ok now but, was down earlier; down a bit too often lateley; think I'll ask for a refund or go elsewhere.
Thnx; you too
100k of those were mine; pick'n away. Got too much into this one now though so sure hope it turns soon.
I only had a mil but, seen those 2's disappearing and dumped; probably regret later but, don't lose tak'n a profit.
GBDX: Lotto status: Got a bid buy in for $0.0004. Tons of 4's going thru
Was going to buy some more PTAH but, check the spread; yikes!
You still holding FFGO Toad? F** it sold mine for a double.
Notice all the 1559 @ $0.0002
Gee I've got one that you don't ISYX lol. em
Watch yer dots D if NOBL buy'n at $0.10 I'll take the whole crew to Vegas lol.
Ya know it just sickens me; how can these clowns live with themselves. My trading success is not all that great but, I've never screwed anyone. I know someone has to lose but, I also know there could be far more winners if everyone just played the game. Saying it like it is is one thing; personal gain pumping or bashing is something else. Now Cellar Boxing enters the arena. It is really quite disgusting that money is made by forcing a legitimate company into failure. Had a cupla glasses of wine; pardon my ranting. I'd like to talk with one of these pathetic jerks face to face.
Regards, Allan
Cellar Boxing:
Got this from another forum; interesting reading. It's a bit long but, can scan through and get the idea; not pretty.
There’s a form of the securities fraud known as naked short selling that is becoming very popular and lucrative to the market makers that practice it. It is known as “Cellar boxing” and it has to do with the fact that the NASD and the SEC had to arbitrarily set a minimum level at which a stock can trade. This level was set at $.0001 or one-one hundredth of a penny. This level is appropriately referred to as “the cellar”. This $.0001 level can be used as a "backstop" for all kinds of market maker and naked short selling manipulations.
“Cellar boxing” has been one of the security frauds du jour since 1999 when the market went to a “decimalization” basis. In the pre-decimalization days the minimum market spread for most stocks was set at 1/8th of a dollar and the market makers were guaranteed a healthy “spread”. Since decimalization came into effect, those one-eighth of a dollar spreads now are often only a penny as you can see in Microsoft’s quote throughout the day. Where did the unscrupulous MMs go to make up for all of this lost income? They headed "south" to the OTCBB and Pink Sheets where the protective effects from naked short selling like Rule 10-a, and NASD Rules 3350, 3360, and 3370 are nonexistent.
The unique aspect of needing an arbitrary “cellar” level is that the lowest possible incremental gain above this cellar level represents a 100% spread available to MMs making a market in these securities. When compared to the typical spread in Microsoft of perhaps four-tenths of 1%, this is pretty tempting territory. In fact, when the market is no bid to $.0001 offer there is theoretically an infinite spread.
In order to participate in “cellar boxing”, the MMs first need to pummel the price per share down to these levels. The lower they can force the share price, the larger are the percentage spreads to feed off of. This is easily done via garden variety naked short selling. In fact if the MM is large enough and has enough visibility of buy and sell orders as well as order flow, he can simultaneously be acting as the conduit for the sale of nonexistent shares through Canadian co-conspiring broker/dealers and their associates with his right hand at the same time that his left hand is naked short selling into every buy order that appears through its own proprietary accounts. The key here is to be a dominant enough of a MM to have visibility of these buy orders. This is referred to as "broker/dealer internalization" or naked short selling via "desking" which refers to the market makers trading desk. While the right hand is busy flooding the victim company's market with "counterfeit" shares that can be sold at any instant in time the left hand is nullifying any upward pressure in share price by neutralizing the demand for the securities. The net effect becomes no demonstrable demand for shares and a huge oversupply of shares which induces a downward spiral in share price.
In fact, until the "beefed up" version of Rule 3370 (Affirmative determination in writing of "borrowability" by settlement date) becomes effective, U.S. MMs have been "legally" processing naked short sale orders out of Canada and other offshore locations even though they and the clearing firms involved knew by history that these shares were in no way going to be delivered. The question that then begs to be asked is how "the system" can allow these obviously bogus sell orders to clear and settle. To find the answer to this one need look no further than to Addendum "C" to the Rules and Regulations of the NSCC subdivision of the DTCC. This gaping loophole allows the DTCC, which is basically the 11,000 b/ds and banks that we refer to as "Wall Street”, to borrow shares from those investors naive enough to hold these shares in "street name" at their brokerage firm. This amounts to about 95% of us. Theoretically, this “borrow” was designed to allow trades to clear and settle that involved LEGITIMATE 1 OR 2 DAY delays in delivery. This "borrow" is done unbeknownst to the investor that purchased the shares in question and amounts to probably the largest "conflict of interest" known to mankind. The question becomes would these investors knowingly loan, without compensation, their shares to those whose intent is to bankrupt their investment if they knew that the loan process was the key mechanism needed for the naked short sellers to effect their goal? Another question that arises is should the investor's b/d who just earned a commission and therefore owes its client a fiduciary duty of care, be acting as the intermediary in this loan process keeping in mind that this b/d is being paid the cash value of the shares being loaned as a means of collateralizing the loan, all unbeknownst to his client the purchaser.
An interesting phenomenon occurs at these "cellar" levels. Since NASD Rule 3370 allows MMs to legally naked short sell into markets characterized by a plethora of buy orders at a time when few sell orders are in existence, a MM can theoretically "legally" sit at the $.0001 level and sell nonexistent shares all day long because at no bid and $.0001 ask there is obviously a huge disparity between buy orders and sell orders. What tends to happen is that every time the share price tries to get off of the cellar floor and onto the first step of the stairway at $.0001 there is somebody there to step on the hands of the victim corporation's market.
Once a given micro cap corporation is “boxed in the cellar” it doesn’t have a whole lot of options to climb its way out of the cellar. One obvious option would be for it to reverse split its way out of the cellar but history has shown that these are counter-productive as the market capitalization typically gets hammered and the post split share price level starts heading back to its original pre-split level.
Another option would be to organize a sustained buying effort and muscle your way out of the cellar but typically there will, as if by magic, be a naked short sell order there to meet each and every buy order. Sometimes the shareholder base can muster up enough buying pressure to put the market at $.0001 bid and $.0002 offer for a limited amount of time. Later the market makers will typically pound the $.0001 bids with a blitzkrieg of selling to wipe out all of the bids and the market goes back to no bid and $.0001 offer. When the weak-kneed shareholders see this a few times they usually make up their mind to sell their shares the next time that a $.0001 bid appears and to get the heck out of Dodge. This phenomenon is referred to as “shaking the tree” for weak-kneed investors and it is very effective.
At times the market will go to $.0001 bid and $.0003 offer. This sets up a juicy 200% spread for the MMs and tends to dissuade any buyers from reaching up to the "lofty" level of $.0003. If a $.0002 bid should appear from a MM not "playing ball" with the unscrupulous MMs, it will be hit so quickly that Level 2 will never reveal the existence of the bid. The $.0001 bid at $.0003 offer market sets up a "stalemate" wherein market makers can leisurely enjoy the huge spreads while the victim company slowly dilutes itself to death by paying the monthly bills with "real" shares sold at incredibly low levels. Since all of these development-stage corporations have to pay their monthly bills, time becomes on the side of the naked short sellers.
At times it almost seems that the unscrupulous market makers are not actively trying to kill the victim corporation but instead want to milk the situation for as long of a period of time as possible and let the corporation die a slow death by dilution. The reality is that it is extremely easy to strip away 99% of a victim company’s share price or market cap and to keep the victim corporation “boxed“ in the cellar, but it really is difficult to kill a corporation especially after management and the shareholder base have figured out the game that is being played at their expense.
As the weeks and months go by the market makers make a fortune with these huge percentage spreads but the net aggregate naked short positions become astronomical from all of this activity. This leads to some apprehension amongst the co-conspiring MMs. The predicament they find themselves in is that they can’t even stop naked short selling into every buy order that appears because if they do the share price will gap and this will put tremendous pressures on net capital reserves for the MMs and margin maintenance requirements for the co-conspiring hedge funds and others operating out of the more than 13,000 naked short selling margin accounts set up in Canada. And of course covering the naked short position is out of the question since they can’t even stop the day-to-day naked short selling in the first place and you can't be covering at the same time you continue to naked short sell.
What typically happens in these situations is that the victim company has to massively dilute its share structure from the constant paying of the monthly burn rate with money received from the selling of “real” shares at artificially low levels. Then the goal of the naked short sellers is to point out to the investors, usually via paid “Internet bashers”, that with the, let’s say, 50 billion shares currently issued and outstanding, that this lousy company is not worth the $5 million market cap it is trading at, especially if it is just a shell company whose primary business plan was wiped out by the naked short sellers’ tortuous interference earlier on.
The truth of the matter is that the single biggest asset of these victim companies often becomes the astronomically large aggregate naked short position that has accumulated throughout the initial “bear raid” and also during the “cellar boxing” phase. The goal of the victim company now becomes to avoid the 3 main goals of the naked short sellers, namely: bankruptcy, a reverse split, or the forced signing of a death spiral convertible debenture out of desperation. As long as the victim company can continue to pay the monthly burn rate, then the game plan becomes to make some of the strategic moves that hundreds of victim companies have been forced into doing which includes name changes, CUSIP # changes, cancel/reissue procedures, dividend distributions, amending of by-laws and Articles of Corporation, etc. Nevada domiciled companies usually cancel all of their shares in the system, both real and fake, and force shareholders and their b/ds to PROVE the ownership of the old “real” shares before they get a new “real” share. Many also file their civil suits at this time also. This indirect forcing of hundreds of U.S. micro cap corporations to go through all of these extraneous hoops and hurdles as a means to survive, whether it be due to regulatory apathy or lack of resources, is probably one of the biggest black eyes the U.S. financial systems have ever sustained. In a perfect world it would be the regulators that periodically audit the “C” and “D” sub-accounts at the DTCC, the proprietary accounts of the MMs, clearing firms, and Canadian b/ds, and force the buy-in of counterfeit shares, many of which are hiding behind altered CUSIP #s, that are detected above the Rule 11830 guidelines for allowable “failed deliveries” of one half of 1% of the shares issued. U.S. micro cap corporations should not have to periodically “purge” their share structure of counterfeit electronic book entries but if the regulators will not do it then management has a fiduciary duty to do it.
A lot of management teams become overwhelmed with grief and guilt in regards to the huge increase in the number of shares issued and outstanding that have accumulated during their “watch”. The truth however is that as long as management made the proper corporate governance moves throughout this ordeal then a huge number of resultant shares issued and outstanding is unavoidable and often indicative of an astronomically high naked short position and is nothing to be ashamed of. These massive naked short positions need to be looked upon as huge assets that need to be developed. Hopefully the regulators will come to grips with the reality of naked short selling and tactics like "Cellar boxing" and quickly address this fraud that has decimated thousands of U.S. micro cap corporations and the tens of millions of U.S. investors therein.
My brokerage account shows my SSWC @ $0.06; yeehaw!!
Back on
Yeah for sure. Lets plaster them with complaints. There are alternatives; don't know how they work though.
Mine just went out
UVSE: Back in @ $0.019; prolly hold over the week-end. Lotsa volume for you Jenna.
UVSE: Looks like it's coming down to a nice entry point again; bin flipping that one for a cupla bucks here and there.
Yep work'n fine Jenna
Just click on it to make the window that you want to prtscn active then hit your alt key & prtscn key.
I'm a Linux user and a bit different at this point but, if I remember correctly once you have hit those two keys the image is copied to your clipboard and is in memory. I think in Windows you now have to open say "Paint" from Accessories and hit Ctrl - v" to paste the image into paint; then save the image as a jpeg.
Thx Df; mines up now em.
Eureka & egads it's working; lets rock!!!
Thanks Jenna
alt prtscn
Save as a jpg
On I-Hub go to "Other"
Browse for the jpg
select "Upload"
Copy & paste to message.
That's ok Jenna anything happening with JCDS? I think there's a delayed L2 somewhere; I'll find that.
JCDS TIA em
Arggggghhhhhhhhhhhhhhhhhhh!!!!!!! Thanks Jenna; anything happening?