is...trading
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Have a great Easter weekend all!
Wow! Happy Birthday and Congrats! Hope everything goes great for you and your family!
Also, based on your typo, either your spending too much time hanging with Tsafi or you are overdue for a little time off from the market. Maybe both...
you wrote...
"I am right now sipping a bear trying to calm my nervous ass down a bit!
I prefer to sip BEER! I dont even wanna know how you sip a bear! I run away from bears!
lmao!
More on "Pre-market and After Hours" trading on Pinks...
There are three types of late reports
Those with a time stamp within a minute and a half after closing are just normal 90 second delays
Rule 6620.1 OTC Market Makers shall, within 90 seconds after execution, transmit through ACT last sale reports of transactions in OTC Equity Securities executed during normal market hours.
In this case the market makers may have conducted a trade within seconds of closing, but is delayed in reporting until after closing it is showing up a minute after closing. This delay, which is permitted, is often misconstrued as manipulation.
And then we have those later than 90 seconds after closing. These trades fall into two categories and typically involve larger size lots
This is sometimes used by financial institutions that are non market makers to report larger transactions that actually occurred during market hours, but since they do not have access to the ACT (Automated Confirmation Transaction Service) use Form T to report. In essence, bypassing the MMs.
MMs are basically prohibited from these "Off Market transaction"
A pattern or practice of late reporting without exceptional circumstances may be considered conduct inconsistent with high standards of commercial honor and just and equitable principles of trade, in violation of Rule 2110.
These ”Off Market” trades are typically used by larger investors to buy larger lots at prearranged prices without risking to drive the price upward or downward.
The second category involves so called “ex-clearing” lots. Certain transactions may clear and settle outside of the regular clearing system ("ex-clearing" transactions), where two dealers make an arrangement to settle trades between them outside the clearing system.
The process used to balance street side transactions depends on the type of comparison generated, and the settlement method for the particular trade.
Trades Comparison is accomplished in one of two ways:
1. Electronically through the use of an automated clearing house such as the NSCC. This the normal way
2. Manually via Ex-Clearing. Ex-Clearing is a manual comparison process that is performed by the brokerage firm’s Purchase and Sales Department. Unusual short coverings can end up settle this way
Did some digging...Pink Sheets do not accept AH or PM trades, so these trades happened during the day but were reported late.
Notice that there is a "t" beside the trade when it is posted...
http://investorshub.advfn.com/boards/quotes.asp?ticker=HTRE&qm_page=17046&qm_symbol=HTRE
This means the trade was not reported within 90 seconds of being completed during the trading day, and is reported as late.
Here is some legal jargon...
4632. Transaction Reporting
(a) When and How Transactions are reported
(1) Trade Reporting Facility Participants shall, within 90 seconds after execution, transmit to the NASD/ Nasdaq Trade Reporting Facility or if the NASD/Nasdaq Trade Reporting Facility is unavailable due to system or transmission failure, by telephone to the Operations Department, last sale reports of transactions in designated securities executed during normal market hours. Transactions not reported within 90 seconds after execution shall be designated as late.
(2) Transaction Reporting to the NASD/Nasdaq Trade Reporting Facility Outside Normal Market Hours
(A) Last sale reports of transactions in designated securities executed between 8:00 a.m. and 9:30 a.m. Eastern Time shall be reported within 90 seconds after execution and shall be designated [as ‘‘.T’’ trades] with the unique trade report modifier, as specified by NASD, to denote their execution outside normal market hours. {Transactions not reported within 90 seconds also shall be designated as .T trades.} Such {T} transactions not reported before 9:30 a.m. shall be reported after 4:00 p.m. and before 8:00 p.m. {as .T trades} with the appropriate trade report modifier as specified by NASD. 8:00 a.m. and 8:00 p.m. Eastern Time and be designated ‘‘as/of’’ trades.
Actually, it closed at .063 with just under a million in volume. I watched it close...
Then somehow an AH trade went thru at 4:11pm for 280K at .0535
0.0535 283824 OTO 16:11:15
Bizarre...
Anyway, I agree that the end result is the volume should show up on some scans and hopefully bring in some new buyers...
OT: but relevant...
Fed Primed to Cut Key Interest Rate
Monday March 17, 4:44 pm ET
By Jeannine Aversa, AP Economics Writer
Federal Reserve Taking Rarely-Used Steps to Steady Shaky Financial Sector
WASHINGTON (AP) -- The Federal Reserve is primed to aggressively cut a key interest rate even lower on Tuesday, racing to contain spreading financial fires that threaten an economic meltdown.
President Bush declared "we're in challenging times" and huddled Monday with top economic officials -- including Fed Chairman Ben Bernanke, Treasury Secretary Henry Paulson and Securities and Exchange Commission Chairman Christopher Cox.
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On Wall Street investors were still skittish. The Dow Jones industrials, in an erratic session, closed up 21.16 points, after having plunged nearly 200 points early in the day. Other stock indexes fell.
With the quick collapse of the investment bank Bear Stearns, fears are mounting about whether other financial companies may fall. Many believe the country has already sunk into recession and all the problems -- if not contained -- will deepen and prolong the pain.
"The Fed is on high alert -- something you don't see but once every quarter century; maybe, in this case, since the Great Depression. This is a very unusual period," said Mark Zandi, chief economist at Moody's Economy.com.
That's because the Fed is having to fight multiple battles at the same time: a housing collapse, a severe credit crunch and Wall Street turmoil that threatens the stability of the entire U.S. financial system. All those problems feed on each other, creating a vicious cycle that can be hard for the Fed and other Washington policymakers to break. The weight of those troubles is like a millstone on the ailing economy.
"Now the issue is fighting the deeper recession," said Brian Bethune, economist at Global Insight. "It has kind of moved to another level. The fires are spreading," he said.
To limit the damage, Bernanke and his colleagues may ratchet down a key interest rate, now at 3 percent, by as much as a full percentage point, to 2 percent, which would put that rate at the lowest it has been since late 2004. Because that rate affects a wide range of rates charged to millions of consumer and businesses, it is the Fed's most potent tool for reviving economic activity.
If that happens, commercial banks' prime lending rate on certain credit cards, home equity lines of credit and other loans would drop by a corresponding amount to 5 percent, from 6 percent currently. The Fed's goal, since embarking on a rate-cutting campaign in September, is to induce people and businesses to boost spending, thus bolstering the economy.
However, with the panicky mind-set that has swept over investors since last summer, credit -- even at a lower cost -- has become harder and harder to get as financial institutions, which racked up huge losses due to soured investments in mortgage-linked securities, became increasingly wary of lending and hoarded cash. So the Fed took a series of other unconventional maneuvers to deal with those problems and to restore confidence.
The Fed, in a bold action on Sunday, agreed for the first time to let big investment houses get emergency loans directly from the central bank. The new lending facility -- similar to one that's been available to commercial banks for years -- started Monday and will continue for at least six months. It marked the broadest use of the Fed's lending authority since the 1930s.
Also Sunday, the Fed approved a $30 billion credit line to engineer the takeover of Bear Stearns.
Senate Majority Leader Harry Reid, D-Nev., was critical. "The Federal Reserve's latest actions appear to shift large risks to taxpayers, who may find themselves on the hook for billions in worthless securities."
Countered Paulson: "Bear Stearns had a liquidity crisis, and so we felt it was very important that this be resolved as a way to minimize impact on our economy ... This is the right outcome."
Democrats accused Bush of not doing enough to relieve the broader economic situation.
"Now we are in the soup and we better get ourselves out of it before the consequences get drastic," Democratic presidential contender Hillary Rodham Clinton told reporters. Barack Obama said: "History will not judge President Bush kindly for his failure to act in a way that could've prevented or alleviated this economic crisis."
House Speaker Nancy Pelosi, D-Calif., who is advocating extending unemployment benefits and other relief measures, said "more must be done to begin to reverse the economic mismanagement of the past seven years."
The new lending facility -- described as a cousin to the Fed's emergency lending "discount window" for banks -- is geared to give financially-squeezed major investment houses a source of short-term cash on a regular basis.
That's important because those big investment houses have key roles in the financial system. If one fails or is having difficulty, it could put the whole financial system in jeopardy. These big firms have complex relationships with many players in the system, including hedge funds, commercial banks and others.
A range of collateral -- including investment-grade mortgage backed securities -- will be accepted to back the overnight loans. The Fed also on Sunday lowered its emergency lending rate to banks -- and now to big investment houses -- by a quarter-point to 3.25 percent.
"These steps will provide financial institutions with greater assurance of access to funds," Bernanke told reporters in a conference call Sunday evening. Bernanke, a scholar of the Great Depression, has been stretching for innovative ways to deal with the credit and financial crises.
The Fed has the power "in unusual and exigent circumstances" to expand emergency lending to other types of companies and even to individuals if they are unable to secure "adequate credit" from other banking institutions. Thus, economists said there's the possibility that -- if current relief maneuvers weren't sufficient -- the Fed could extend emergency credit to a wider variety of recipients.
The Fed acted on Sunday just after JPMorgan Chase & Co. agreed to buy rival Bear Stearns Cos. for $236.2 million in a deal that represents a stunning collapse for one of the world's largest and most venerable investment houses. Just on Friday the Fed had raced to provide emergency financing to cash-strapped Bear Stearns through JPMorgan. Days earlier the Fed announced a set of other unconventional steps to thaw out a credit market in danger of freezing shut.
The flurry of unconventional steps may risk putting the public into a more skittish frame of mind, some said.
"It all kind of sends a conflicting message -- making people more nervous," said Bethune. "Why is the Fed every week coming out with another major injection of liquidity or a bailout? What are they doing in Washington?"
In communicating with Wall Street and Main Street, sometimes fewer public utterances by Fed officials may be prudent during turbulent times. "Some talk is best left with your wife over a glass of wine in the evening," Bethune said. "Talking publicly sometimes is not the way to go."
Associated Press writer Ben Feller contributed to this report.
LMFAO!!!
lol, o c'mon....
you CAN DO IT!!!!
We just dont want to run out of Beer!
Check this out...
BSC 3.27 PM
http://www.liveleak.com/view?i=2b7_1205751955
Yeah, its not gonna be good. I am guessing the DOW wll test 11500 today.
We are gonna have to build a wall to stop them from coming up here and drinking all of our beer. lol
Market Likely Uneasy Over Bear Stearns
Sunday March 16, 8:15 pm ET
By Madlen Read, AP Business Writer
Wall Street Expected to Be Uneasy Over Bear Stearns Deal, Also Waiting for More Fed Moves
NEW YORK (AP) -- Wall Street begins the new week trying to come to terms with just how bad the fallout from the credit crisis is -- so bad that an investment bank worth $20 billion weeks ago has been bought for just $236 million.
The news late Sunday that JPMorgan Chase & Co. will buy Bear Stearns for a sum that's considered paltry by Wall Street standards is likely to leave investors shaken. What might give stocks some support is the Federal Reserve's latest steps to inject cash into the banking system -- steps aimed at lifting the economy but also to restore some confidence to investors. But how much that will help stocks, and for how long, is a big question on the Street.
Wall Street faces a paradox as trading opens -- the more investors find out about the problems caused by billions of dollars in failed mortgages and investments, the more unknowns seem to crop up. And the near-collapse of Bear Stearns after it invested heavily in risky mortgage-backed securities, while it ends uncertainty about one company, still raises concerns about how badly wounded other financial institutions might be.
Some answers will come this week, when quarterly earnings reports are due from Lehman Brothers Holdings Inc., Goldman Sachs Group Inc., and Morgan Stanley. Bear Stearns was scheduled to report its results Monday; it wasn't clear if it would go ahead with that plan.
Meanwhile, the Fed has been using the various tools at its disposal -- even creating some that investors have never seen before -- to try to mend the ailing financial markets.
On Sunday, the central bank cut its discount rate, the interest it charges financial institutions, to 3.25 percent from 3.50 percent, effective immediately, and created another lending facility for big investment banks to secure short-term loans.
The steps are "designed to bolster market liquidity and promote orderly market functioning," the Fed said in a statement. "Liquid well-functioning markets are essential for the promotion of economic growth."
And last week, the Fed said it would pump up to $200 billion into the system by taking mortgage-backed securities as collateral.
The Fed is expected to take another step this week to help the economy -- on Tuesday, it holds a regularly scheduled meeting on interest rates. The Fed is going to have to make a big rate move and a powerful statement to reassure the markets, and most analysts expect at least a half-point reduction in the key fed funds rate, which now stands at 3 percent. Some believe the Fed will slash rates by a full point.
The question is whether the Fed, which has had mixed success in lessening the impact of the credit crisis and calming the markets, can restore confidence to Wall Street. While investors have felt relief that the Fed is willing to act aggressively, they are more anxious than they've been in years; many didn't believe the credit crisis that began last year due to spiking mortgage defaults would reach this magnitude. The positive effect of past Fed moves have quickly evaporated.
Investors are also worried as they see increasing signs of a possible recession in the United States -- companies are cutting jobs and the housing market shows few, if any, signs of coming out of its slump.
"We're sort of in uncharted waters here," said Brandon Thomas, chief investment officer for Portfolio Management Consultants, the investment arm of Envestnet. "Usually the market does a really good job discounting things that are unknown. Now it seems like the unknown is too unknown -- they don't know how to discount it."
Last week was a fitful one for Wall Street. After soaring early in the week on news that the Fed was taking new steps to try to end the near paralysis in the credit markets, stocks pulled back Friday on news that Bear Stearns had to be bailed out. The major indexes finished the week little changed. The Dow rose 0.48 percent, the Standard & Poor's 500 index slipped 0.40 percent, and the Nasdaq composite index ended flat.
This week's economic data is expected to show more weakness in the economy but some easing in inflation pressures.
Economists surveyed by Thomson Financial/IFR anticipate the Commerce Department on Tuesday to report declines in February housing starts and building permits; the Labor Department on Tuesday to report a modest increase in February producer prices; and the Philadelphia Fed on Thursday to report another contraction in the region's business activity.
Meanwhile, credit card processor Visa Inc. is expected to launch what it anticipates to be the largest initial public offering in U.S. history.
My Picks...CERP, OLGC, KAD, SCA, CCUR, BKHM, GNLB, CRTX, INSM, TMY
Stocks tumble, gold at record after Fed cut
Sunday March 16, 8:48 pm ET
By Miranda Maxwell
SYDNEY (Reuters) - Asian stock markets fell on Monday and gold prices hit a record high as a surprise rate cut by the U.S. Federal Reserve failed to calm investors panicked by the demise of Bear Stearns (NYSE:BSC - News).
U.S. stock index futures briefly gained but later extended losses, falling sharply despite news the Fed unexpectedly cut its discount rate by 25 basis points and JPMorgan Chase (NYSE:JPM - News) will buy U.S. investment bank Bear Sterns for just $2 a share in scrip.
Investors said the acquisition of Bear Stearns only highlighted the depths of the problems plaguing U.S. financial markets. The fall of one of the largest investment banks added to concern credit market turmoil was yet to run its full course and ongoing turbulence could drag the U.S. economy into a recession.
"The credit crunch has still some way to go and I think there will be a few more months of strife ahead," said Stephen Roberts, Chief Economist at Lehman Brothers in Sydney.
JPMorgan acquired Bear on Sunday after having provided emergency funding to Bear on Friday via the Federal Reserve.
The Fed cut its discount rate on Sunday and launched a new discount window facility for primary dealers.
"It's a short-term measure. They are using all the tools they can and I don't expect any market rebound," said Kumar Palghat, managing director of Australian fixed income manager Kapstream Capital.
Japanese stocks fell, with the benchmark Nikkei (Osaka:^N225 - News) down 3.1 percent at 11,855.90 and the broader TOPIX (^TOPX - News) down 3.3 percent at 1,153.67 at 8:35 EDT.
Australian shares fell 2.4 percent (ASX:^AXJO - News), dragged down by financials. The market had trimmed losses to just 0.4 percent at one point.
S&P 500 futures (SPc2) fell 20 points and Dow Jones industrial average futures (DJc2) sank 142 points. Nasdaq 100 (NDc2) futures tumbled 32.75 points.
The U.S. dollar briefly trimmed losses on the news but then started tumbling anew, falling over 2 percent on the day against the Japanese yen to below 97 yen.
The euro meanwhile vaulted to a record peak over $1.58, up nearly 1 percent on the day.
U.S. Treasury futures rebounded from early losses, with June T-note futures (TYv1) hitting the highest since mid-2003.
Gold struck a record peak of $1,015.10.
SCA up HUGE in PM....printing 1.34 right now...
Well I guess I got this one right by saying it was gonna retest a buck....lol
Woo Hooo!
SCA Earnings out...its a mess as expected but it looks like they can avoid BK for right now...
"SCA expects that the Company's independent auditors' opinion will not contain a going concern explanatory paragraph. The Company also expects that such opinion will be unqualified, but will include an explanatory paragraph highlighting the Company's decision to cease writing new business at the
present time."
The market appears to be responding positively so far, hit .80 afterhours, now some buys going thru at .75.
Up from an ugly close of .63
This could be real interesting tomorrow...
I think the chit numbers are built in as well as fears of BK.
I am guessing it goes up tomorrow and retests 1.00
But wtf do I know...
December 19th PR...Mr. Eveneshen, CEO of Diversity Group International Inc., comments, "First, I would like to apologize to our shareholder base for the recent lack of communication. This is something that will be pleasantly resolved shortly.
Yeah....right
Hey Les....the SEC's stepped-up effort to address fraud involving the securities of non-exchange traded, or microcap, securities...
There are coming for you next...
Hope you enjoy your time in Jail...HA HA HAAA HAA!!!
At least you will have a better outfit.
SEC Suspends Trading of 26 Companies to Combat Corporate Hijackings
Actions Are First From Enforcement Division's Recently-Formed Microcap Fraud Working Group
FOR IMMEDIATE RELEASE
2008-41
Washington, D.C., March 13, 2008 - The Securities and Exchange Commission today suspended trading in the securities of 26 companies that appear to have usurped the identity of defunct or inactive publicly-traded corporations using a tactic known as corporate hijacking. The Commission ordered the suspensions because of questions regarding the adequacy and accuracy of information pertaining to their status as publicly-traded companies.
The trading suspensions are part of the SEC's stepped-up effort to address fraud involving the securities of non-exchange traded, or microcap, securities. These are the first actions resulting from the recent formation of the Enforcement Division's microcap fraud working group. In March 2007, the Commission suspended trading in the securities of 35 companies as part of the SEC's Anti-Spam Initiative, which targets potentially fraudulent spam e-mail.
"Microcap investing involves thousands of companies and hundreds of thousands of investors. Keeping this tier of the market honest and free of fraud is every bit as important to investor confidence as our regulation of the world's largest companies and exchanges," said SEC Chairman Christopher Cox. "These trading suspensions demonstrate the SEC's intensified commitment to eradicating microcap fraud. The trading suspensions, and the actions that will follow, should leave no doubt that the Commission will use all of the weapons in its arsenal to combat those who threaten the integrity of our markets."
Linda Chatman Thomsen, Director of the SEC's Division of Enforcement, added, "Hijackings are a burgeoning problem, and a type which the Division's microcap fraud working group was created to address. Today's trading suspensions are squarely aimed at putting the market on notice about the risks associated with acquiring non-operational or 'shell' companies, and with investing in microcaps. This is a first step. We will continue to vigorously investigate those involved."
In conducting the corporate hijacking, certain persons appear to have incorporated each of the 26 companies using the same name as a then defunct or inactive publicly-traded corporation. For identification purposes, each class of an issuer's publicly-traded securities is assigned a ticker symbol by Nasdaq Reorganization and a CUSIP number by the Standard & Poor's CUSIP Bureau. These same persons appear to have usurped the CUSIP numbers and ticker symbols assigned to the defunct or inactive corporations' publicly-traded securities for use by the newly-incorporated entities. They then appear to have obtained new CUSIP numbers and ticker symbols in lieu of the old ones, also for use of the newly incorporated entities, by apparently representing falsely that they were duly authorized officers, directors, or agents of the original publicly-traded corporation.
The trading suspensions will last for 10 business days. The trading suspensions commenced today at 9:30 a.m. ET and terminate at 11:59 p.m. ET on March 27, 2008.
The 26 companies whose trading was suspended today are: Andros Isle Development Corp. (AVPJ); Asante Networks, Inc. (ASTN); Beluga Composites Corporation (BGCC); Cobra Energy Inc. (CBNG); Complete Care Medical, Inc. (CCMI); Disability Access Corporation (DBYC); El Alacran Gold Mine Corp. (EAGM); Extreme Fitness Inc. (EXTF); Gaming Transactions Inc. (GGTS); Global Equity Fund, Inc. (GEQF); HealthSonix Inc. (HSXI); IQ Webquest, Inc. (IQWB); JSX Energy Inc. (JSXG); Kensington Industries, Inc. (KSGT); Kingslake Energy Inc. (KGLJ); L International Computers Inc. (LITL); Let's Talk Recovery Inc. (LKRV); Mobilestream, Inc. (MSRM); Mvive, Inc. (MVIV); Native American Energy Group Inc. (NVMG); Paramount Gold and Silver Corp. (PZG); Regal Technologies Inc. (RGTN); Remington Ventures, Inc. (REMV); Straight Up Brands, Inc. (STRU); Transglobal Oil Corp. (TRGO); and Turquoise Development Company (TQDC).
uhuh
SEC Suspends Trading of 26 Companies to Combat Corporate Hijackings
Actions Are First From Enforcement Division's Recently-Formed Microcap Fraud Working Group
FOR IMMEDIATE RELEASE
2008-41
Washington, D.C., March 13, 2008 - The Securities and Exchange Commission today suspended trading in the securities of 26 companies that appear to have usurped the identity of defunct or inactive publicly-traded corporations using a tactic known as corporate hijacking. The Commission ordered the suspensions because of questions regarding the adequacy and accuracy of information pertaining to their status as publicly-traded companies.
The trading suspensions are part of the SEC's stepped-up effort to address fraud involving the securities of non-exchange traded, or microcap, securities. These are the first actions resulting from the recent formation of the Enforcement Division's microcap fraud working group. In March 2007, the Commission suspended trading in the securities of 35 companies as part of the SEC's Anti-Spam Initiative, which targets potentially fraudulent spam e-mail.
"Microcap investing involves thousands of companies and hundreds of thousands of investors. Keeping this tier of the market honest and free of fraud is every bit as important to investor confidence as our regulation of the world's largest companies and exchanges," said SEC Chairman Christopher Cox. "These trading suspensions demonstrate the SEC's intensified commitment to eradicating microcap fraud. The trading suspensions, and the actions that will follow, should leave no doubt that the Commission will use all of the weapons in its arsenal to combat those who threaten the integrity of our markets."
Linda Chatman Thomsen, Director of the SEC's Division of Enforcement, added, "Hijackings are a burgeoning problem, and a type which the Division's microcap fraud working group was created to address. Today's trading suspensions are squarely aimed at putting the market on notice about the risks associated with acquiring non-operational or 'shell' companies, and with investing in microcaps. This is a first step. We will continue to vigorously investigate those involved."
In conducting the corporate hijacking, certain persons appear to have incorporated each of the 26 companies using the same name as a then defunct or inactive publicly-traded corporation. For identification purposes, each class of an issuer's publicly-traded securities is assigned a ticker symbol by Nasdaq Reorganization and a CUSIP number by the Standard & Poor's CUSIP Bureau. These same persons appear to have usurped the CUSIP numbers and ticker symbols assigned to the defunct or inactive corporations' publicly-traded securities for use by the newly-incorporated entities. They then appear to have obtained new CUSIP numbers and ticker symbols in lieu of the old ones, also for use of the newly incorporated entities, by apparently representing falsely that they were duly authorized officers, directors, or agents of the original publicly-traded corporation.
The trading suspensions will last for 10 business days. The trading suspensions commenced today at 9:30 a.m. ET and terminate at 11:59 p.m. ET on March 27, 2008.
The 26 companies whose trading was suspended today are: Andros Isle Development Corp. (AVPJ); Asante Networks, Inc. (ASTN); Beluga Composites Corporation (BGCC); Cobra Energy Inc. (CBNG); Complete Care Medical, Inc. (CCMI); Disability Access Corporation (DBYC); El Alacran Gold Mine Corp. (EAGM); Extreme Fitness Inc. (EXTF); Gaming Transactions Inc. (GGTS); Global Equity Fund, Inc. (GEQF); HealthSonix Inc. (HSXI); IQ Webquest, Inc. (IQWB); JSX Energy Inc. (JSXG); Kensington Industries, Inc. (KSGT); Kingslake Energy Inc. (KGLJ); L International Computers Inc. (LITL); Let's Talk Recovery Inc. (LKRV); Mobilestream, Inc. (MSRM); Mvive, Inc. (MVIV); Native American Energy Group Inc. (NVMG); Paramount Gold and Silver Corp. (PZG); Regal Technologies Inc. (RGTN); Remington Ventures, Inc. (REMV); Straight Up Brands, Inc. (STRU); Transglobal Oil Corp. (TRGO); and Turquoise Development Company (TQDC).
Ok, Heres my recap/perception on the call.
Dr. Ben spent the majority of the time talking about the "internal challenges" again.
Although he never comes right out and states clearly what the problems are, he did make several comments that lead me to assume that they are disagreeing on money issues.
- Dr. Ben wants to maintain his office in NY (Perhaps the BOD doesnt want to foot the bills for this).
- He wants to maintain his exec team. (Maybe the board doesn't feel that H3 should have to pay for Ben's "team").
- He needs to "build relationships in the communities" where H3 is set to expand. (Maybe they dont want to finance his travel?)
- Issues surrounding financing?
- Possible issues surrounding how they are moving forward, and the pace at which they grow.
It sounds like the BOD (or one specific individual), is attempting to micro manage Dr. Ben and they cant agree on next steps and spending.
This is only my interpretation and may not be accurate. I can only speculate like the rest of us.
The only new info gained from the call is that Dr. Ben wants to hold a shareholder meeting prior to the end of his 1st year (June).
The deal with Microsoft is still in the process of being developed.
Letter of Intent is signed for Miami, No opening date set as of yet (He wont announce a date until he is certain it is attainable.)
Dr. Ben's management team has bought shares (at a much higher price than the current price.)
Ultimate goal is to leave the pinksheets and move to the big boards.
He admitted that there appeared to be a pattern of someone holding the price of the stock down, he doesnt know who that would be.
He expected to make more progress in resolving the internal problems over the last week, but has not. The next webcast will be when these internal issues are resolved.
...........
IMO, He is getting frustrated and he is using the webcasts to attempt to motivate the BOD. I personally dont necessarily agree with this tactic. There has to be a better way than this. I just dont know what it is. How about a hostile take over? Russell and Diddy team up with Dr. Ben and buy up a majority stake in the company?
I agree with cautionupahead's post. If this doesnt get sorted out soon. Dr. Ben will bail. He has a vision and a mission to build a long term solid company. Maybe the board just wants to ride on the backs of shareholders for a couple more years.
If its one person in particular on the board that is causing the issues. Then the rest of the board needs to step up and oust him.
You are in the plan, or you are in the way.
This BOD BS needs to be straightened out immediately in order for the company to move forward.
Reminder the call is at 11:30am EDT (NOW)
(not noon as per previous calls)
SCA trying here for a break out...
Nice!!!
Needs volume....
Hopefully a late day run coming...
FMT and TMA getting all the action...
H3 Enterprises, Inc. President & CEO Dr. Benjamin Chavis To Issue Company Update Today 11:30am EDT
Wednesday March 12, 10:11 am ET
Via Live Video Webcast and Telephone Conference Call
NEW YORK, March 12 /PRNewswire-FirstCall/ -- H3 Enterprises, Inc. (Pink Sheets: HTRE - News) President and CEO, Dr. Benjamin F. Chavis, today will issue a company update at 11:30am EDT via a live video webcast and national telephone conference call. To view the video webcast go to www.H3inc.com and to join the telephone conference call, please dial 1-218-339-7800 and the participant access code 178920. Dr Chavis stated, "H3 Enterprises, Inc. is the first publicly traded hip-hop company, and I believe it is important to keep the shareholders, investors and the public at-large informed about the status and progress of the company."
About H3 Enterprises, Inc. and the HipHopSodaShop:
H3 Enterprises, Inc. is the parent company of the HipHopSodaShop, with its corporate headquarters located at 116, John Street, New York, NY 10038. As the first publicly traded Hip-Hop company, H3 Enterprises, Inc. is dedicated to the mission of empowering young people through investment, education and economic development.
The HipHopSodaShops are a franchise restaurant operation that brings hip- hop music, sports and community involvement to every city where they open. The HipHopSodaShop comes complete with a healthy quick service menu, merchandising, a state of the art recording studio, 30 giant LCD screens, the latest Xbox 360 live video games, and a large area dedicated to competitive on-line video gaming. The HipHopSodaShop in Tampa is over 11,000 sq ft and is a modern day cultural arts center where many forms of Hip-Hop can be expressed by patrons and embraced by the community. The HipHopSodaShops carry a message of giving back to the community in the forms of empowerment, investment, employment and the arts.
.10 on the ask....lets see if it gets slapped...c'mon HTRE
GTOP is in big trouble...
Genitope halts MyVax work, examines future
San Francisco Business Times - by Ron Leuty
Genitope Corp. said it will suspend work on its cornerstone personalized cancer vaccine, MyVax, for follicular non-Hodgkin's lymphoma.
The announcement late Monday came after a meeting between the Fremont company (NASDAQ: GTOP) and the Food and Drug Administration. The agency told Genitope that one or more additional Phase III trials would be required.
The company said Monday it is evaluating alternatives for MyVax and is evaluating its financial position and plans for continued operations.
Genitope also said it will postpone a shareholder meeting that was scheduled for Tuesday -- to consider authorizing the sale of 60 million more shares, to about 125 million shares -- and instead will hold the meeting Friday.
Genitope, which analysts have said is running critically short of cash, would need to raise millions of dollars more, but its stock has tanked since it said in December that MyVax failed to meet the main reason for its Phase III trial.
Chairman and CEO Dan Denney Jr. at the time emphasized that MyVax worked on a subset of patients and sought FDA approval based on that data.
MyVax uses a vaccine derived from a tumor to stimulate a patient's own immune system to control cancer.
Genitope has seen its stock slide from $4.03 a share on Dec. 20 -- the day it announced MyVax's failure -- to 54 cents at Monday's opening.
The stock closed Monday at 58 cents per share, but was down 25 cents in after-hours trading in the late afternoon.
"We are disappointed that we will not be able to make MyVax personalized immunotherapy available to patients with follicular non-Hodgkin's lymphoma," Denney said. "We firmly believe that MyVax personalized immunothterapy has the potential to safely induce long-term remissions, possibly including lifelong remissions."
Bobby, looks like alot of people are dumping their China Reverse Merger plays based on the info released about CFSG.
Heres a link...
http://www.sharesleuth.com/
In this risky market, investors get scared out easily.
SCA heating up into the close...
As far as we know, we made it into the 20's with the same float we have now....i dont think thats the issue
Good question, it really looks like someone is holding it down intentionally....someone with alot of shares...
very frustrating...
This is the email he gave out on the call...
DRBENCHAVIS@h3incny.com
DR. BEN Please release a PR for the CALL!!!
We need exposure, buyers, momentum...we cant do it on this board alone. Please release a PR so NEW investors are aware of the call tomorrow...
yeah, strange...
19K before the bell and now creeping up on low volume....
SCA looking good for a pop here on the open.
News on Int'l banks lending to support the US banks is popping up others in this sector in PM. (i.e. ABK, FMT, TMA)
Expecting SCA to test a buck today...We'll see
SCA looking good for a pop here on the open.
News on Int'l banks lending to support the US banks is popping up others in this sector in PM. (See ABK, FMT, TMA)
Expecting SCA to test a buck today...We'll see
This is all he really said about the MS deal...
Last week was in Seattle to meet with top execs at Microsoft (Mike Fisher, National marketing director,). Will be announcing a major agreement relationship with MS. "A relationship beyond using products and logos, a business partnership between H3 and MS." Details and terms to be defined. More info to follow on next weeks call
ERFW +32%
cor
Although we would all much prefer to see the ask getting slapped, cant blame you for trying to get some cheaper shares.
Its the idiot who is selling that is the problem here...
The first concept store is open...
Second location just announced in Miami...
Potential Microsoft deal...
Conference Call on Wednesday to update shareholders...