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"CRGO"--You guys have to realize that Katrina is going to end up being a good thing for CRGO ,already millions of tons of cargo that was to be off loaded and loaded in new orleans ports are now being redirected to Miami, where CRGO has one of it's largest operations, they will soon be releasing a pr detailing how this will effect the Co.
This is the lull in the storm ,, this is the best buying op you could ask for ,, add more here and you will be rewarded greatly,, Imho,,,
They will pass on higher gas costs..
Who can sell ? I can't , I don't want to but if all the brokerages won't take buy or sell orders who is selling off to who?
There goes the pps
well that's it for scottrade, I just confirmed that they will not allow buys or sells, and they are not sure if they will be able to honor the additional shares I bought yesterday because they have to receive them in 3 days or they may back out my TRADE,, YIKES..
That bit of info came from where?
what's with my free shares?? pps getin killed
what's with my free shares??
gonna drop to 0?? lol
what's with the spread?
LOL but true LOL
OT, CRGO is starting to wake up now , hurry while this pps last,,
And I just bought more no problem,,
I just got off the ph. with scottrade ,, they don't see anything in regards to a trading halt ,, and they never heard of global anything..
Here we go baby let's move thi to .18 noww GO!CRGO
I originally bought in on the 15th @.0055 and I have been accumulating ever since,, wish I bought it all there..
Sure got quiet over here in crgo land,, that's probably the best time to...
Well scottrade hasn't heard a thing about any freeze.
I just bought from scottrade no problem.. They say there is no word from sec to them atleast.
Who said it was frozen, ? and by who ? sec?
Frozen???
been in bcit from .0055 sold friday.. but i might get back in ,in the morning,, but thanks..
I see .0175 not .018 - .0179????
Thank goodness for BCIT WOO HOO!!
all ou @ .405 What a trade since the 15th woohoo! Don't want to get greedy here thanks for the heads up who ever gave it to me 2 weeks ago and good luck to you next week.. one more,, WOOHOO!!
yup got mine too.
Ya I bought on the 15th @ .0055 I was going to sell 3-4 times already today, good thing I kept my finger off the trigger.
REALLY?
Here we go gonna test .0016 right now..
I hope we bounce, THANK goodness for bcit ..
Where's our volume?
From Raging bull post
By: 159_iq
25 Aug 2005, 11:19 PM EDT
Msg. 204875 of 204878
Jump to msg. #
Here's why I would hesitate to sell this stock....
In my opinion, the main reason the stock price has declined in the past year or whatever is because of possible added selling pressure as a result of Ivoice's equity line of credit, which provided Cornell with stock in exchange for a cash advance.
As I mentioned in a recent post, the stock price was as high as .0098 on Jan 7 2004 according to my trading records. The equity line of credit was established in December 2003 I think.
If still able, they might continue to draw more advances on their equity line of credit, but they might not draw much, because I think they might have drawn most of what they were allowed under the credit line.
And the good news is that according to their quarterly report they have tons of cash now, over $10M.
So, I would think that there would seem to be little need for more cash unless they wanted to simply have more or needed more for a larger acquisition or something.
Basically, I would hesitate to sell this because I think that possible selling pressure from the equity line of credit may be eliminated or reduced.
Hence, one might not even need particularly good news for the stock to rise again. A reduction or elimination of any selling related to the equity line of credit alone might be enough for the stock price to rise back towards .0098.
Above and beyond that, good use of the cash could really make the stock fly higher.
I believe that possible selling related to the equity line of credit may have already ended or been reduced, but I think that part of the reason the stock price is still low is because investors may be unsure as to how much money the company still has on hand after the stock dividends occured.
I'm not exactly clear about how stock dividends are established, but I assume that the company could use cash to create the dividends. If so, I think the stock dividends didn't use up much of Ivoice's cash, relative to their total cash holdings.
I believe my broker said the value of one of the stock dividends was .01 per share. If we assume that's true for all 3 stock dividends, this is what I get:
Take about 10 billion shares, divide by 988.
You get about 10,121,457 shares
.
Multiply by price of $ .01, you get about:
$101,214. That would be the cost for one spinoff.
If my calculations and figures are correct, all 3 then would cost about $300,000. That is not much money out of $10 Million or so.
Their equity line of credit basically worked like this, i think:
Check out their Quarterly report for more details.
http://www.sec.gov/Archives/edgar/data/1105064/000107261305001839/form10-qsb_13711.txt
Cornell would give Ivoice a cash advance. As payment, Ivoice would give Cornell shares instead of cash. What Cornell would get out of it would be the interest rate charged I would think, and maybe received a bonus in shares as well.
I don't know if Cornell was obligated to sell those shares quickly, but I would think that they probably sold most or all of them soon after receiving them, because:
If I'm correct, the amount Cornell paid as a cash advance to Ivoice was based on the lowest bid price of the five previous trading days. So, once Cornell received their shares, if they didn't sell the shares quickly, they risked that chance that if they waited too long, the stock price could be lower, and hence they wouldn't recoup the money they gave as a cash advance. I doubt they would risk that.
And, in addition to the interest rate and any possible bonus in shares, COrnell may have made a profit in selling them quickly after receiving them. To profit, they would have had to sell only at a price higher than the lower bid price of the five previous trading days, or whatever the stipulation was(excluding commission of course). I would think that, if that was the stipulation, then on average, they would be able to do so for most advances.
So, I am not concerned at all that Cornell might have a huge number of the line of credit shares (received in return for cash advances) waiting to be sold. I would think they have mostly been sold.
To summarize, this stock might be have the potential for a huge return. Imagine if it returned back to .0098.
Here's some info that, in my opinion, suggests how strong their cash position is:
From the Quarterly report:
"Number of shares of Class A, common stock, No par value,
outstanding as of July 27,
2005: 9,994,728,373
Cash and cash equivalents $ 12,375,346"
Now,
$12.4 M in cash would buy back about 20,625,576,667
shares at a price of .0006.
Thats BILLIONS. Out of the 10B or so outstanding, I think that about half of that is owned by the CEO. So If they bought back 5B shares at .0006, they would still have about 75% of their cash left I would think.
Even if they bought back their entire outstanding balance of shares they might still have about half their cash left over.
Call me an idiot but I am adding more CRGO here,,,
That was great stuff,,, loved it,, lol
CRGO IS GREAT DEAL AT THIS LEVEL..
but if it hits .005 tomorrow i'm out lol
out @ .0036 for good ,,
1-5 months for me...
I've got 3.2 mil of CRGO avg. .0191 now myself and I ain't goin nowhere..
what do they have to do with crgo ?
a little shake here
CRGO is great buying op imo too..