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"Be careful what you wish for. When it hits the trips, it may attract some flippers and short-term traders, but those buyers are looking for very small gains - 10% - 20%, usually. That action puts a serious cap on any price movement in the stock.
Once it gets that low, the chances of it ever climbing back to even these levels is remote."
That's true. I've stated about this before (and it became fact), where at some point from trading at a lower levels the pps has to take a dive in order to just get a little bump for trading. And as stated, it's lucky to even get on the highs back to where someone has entered the play. Lots of traders just loose on these garbage plays trying to hold to long and the pps just falters back to even a lower trading level to quickly or just doesn't get the required action at all.
But it does really need to almost get down to the trips (you know one of those plunges where it's erroneously stated it's "holding" lol) in order for this thing to get some real trading opportunity. But still a definite risky business. Why so many realize that and just go for the 10-20%. Not too many if anyone gets the exact low and high, so a much bigger percentage of pps difference has to occur just to get the 10-20%.
Say hello to Rip Van Winkle for me and I don't suggest to hold any breath while "waiting".
May I suggest the SEC to get information on for whatever you might care to.
For most, it's just the fact that they did it, and many were wondering what took them so long. But the SEC always takes a long time to put a hammer down on these scammy pinks. But since there's nothing but circles to go around and this "company" is such a POS and nothing, not even pulling off a name change or reorganization (if they can), is going to change the dirt this thing is. There are greater possibilities to more federal criminal charges or more actions from the SEC or DTCC than getting back another chance to screw investors by a name change or reorg.
If someone wants comparisons or explanations for a few SEC words, call the SEC, the number is on the site. It definitively doesn't make sense to just ignore or disagree with anyone on a message board. Talk to the SEC, if they can't satisfy one, well that's life, I presume many shareholders are pretty unsatisfied with ANWM. There is nothing to be done on it. The insiders have an attorney for litigation with the SEC, they need one and should be worried (I'm sure they are).
I'll just share this again for anyone that doesn't want to foolishly debate the seriousness of the SEC actions or wants to try to spin it to "word games". As I already stated, I think it's just a fools game.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73141052
Personally, I think I will try to find a cyclone if I feel I just want to throw money away.
What difference does it make? NONE. One might as well throw their money into a cyclone and see where it ends up. In fact, the cyclone will have a better ability to track it, more dependable, and a better chance to pick the money back up. LOL
OK, whatever. Good luck with that. ROFL
Again my quote
Like has been stated though, it's only what one can actually get and put in the bank, not some erratic blind quotes on the GREY SHEETS.
There's no rhyme or reason in the greys.
I have some same thoughts with this response from 1manband
I wonder how many of those people:
- know they were "shareholders";
- actually paid for the stock or were they just paid a nominal fee for renting their name;
- still own the stock or did they sell it back to the promoters;
- Actually qualified to purchase stock under the Federal and State laws and regulations.
These S-1 filings are rife with seed shareholder fraud.
Yeah they just put it on the "do not trade" list and laughed at what a sad joke this "company" is. Some just left the building entirely due to they didn't want to be the ones "last one out" or in charge of "turning out the lights". Took the more realistic approach of trading or investing instead of any "fantasy world" of CRWV butterflies, "breakout boards, and birds chirping. I wasn't responsible for that, so no commending me is necessary. Thank CRWV for their "great job" in being so obviously filled with scammy and dubious factors.
What difference does it make? NONE. One might as well throw their money into a cyclone and see where it ends up. In fact, the cyclone will have a better ability to track it, more dependable, and a better chance to pick the money back up. LOL
Like has been stated though, it's only what one can actually get and put in the bank, not some erratic blind quotes on the GREY SHEETS.
"unfortunately in the grey market, there is no priority to filling shares since a market maker does not exist. ........ There's no rhyme or reason in the greys."
News flash: getting on the "breakout board" many times does more harm than good for any investment. Some even go there to get their "do not trade" and "run like heck" list. LOL
But no worries the lack of posts comparably on this board will probably save it from that. LOL Personally I would welcome the attention, the more that learn from a scam and see a scam like CRWV, the more that will be able to learn and not be scammed.
"All the chat over the weekend likely will land CRWV on the breakout boards list again."
Given that the actual trade data for GREY SHEETS are erratic and sometimes quite lagging, and will vary depending on the platform looking at, but I am shown the last trades for ANWM at .01.
And mine is showing 4 digits unlike what the Ihub is showing.
http://ih.advfn.com/p.php?pid=trades&symbol=ANWM
Like has been stated though, it's only what one can actually get and put in the bank, not some erratic blind quotes on the GREY SHEETS.
You probably noticed that the DTCC has purged notices in 2008 and before. For example TMMI, AGWS, DGIN (DGIND). DGIN is interesting due to it has been restricted not only back in 2008 and was one of the few stocks that managed a restore of services (I just happened to note it on XL before purged), has done several large RS since then, but then got restricted to T4T again on November 10, 2011 (CUSIP 25536L202 ). Then recently has done a reorganization to "The Automotive Resource Network" and RS again (DGIND) and now has a new CUSIP and ticker as of 2/6/2012 (ARNH, CUSIP 053304101 ). Will be interesting to watch to see if DTCC will be coming in with a notice for restriction of the new CUSIP.
I'm not sure if the DTCC will have a standard number of years before purging public notices, or if it was just a particular instance recently.
Sorry about that. Actually I should have been responding to the original one that janice responded to.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73171973
Your post just happened to be the one to get hit and my response was just for gp. The question comes up every now and then and I see it trying to be used for the "shorty game" bs and it doesn't have anything to do with any "shorting".
One should be able to get a official response from Etrade, but maybe it would take a phone call.
Actually and realistically it is the LACK of effort or support, lack of any "team", and lack of substance of the company. There is becoming less interest in the stock, some realizing the scam it is, and some getting at least something out of it before it is worth nothing (given it's not worth much now).
I guess this projection is now fact and I project it will continue.
"It is now at risk to have the trading level fall even further down and breaking even the all time spike low of .0015. Sure as with any stock it goes up and down, but overall the levels are falling lower and lower, with dollar volume getting less and less and ability to get anything out of the stock is getting less and less available."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73125238
Down to .0013 today with a last close trade .0014 with $14
CRWV trade data for 3/12/2012:
Not sure how Etade is doing their corrections, but that very well could be it. I have raw data feed that lists error corrections that way. The negative number for example may be just correcting a bogus trade, or a mis-entered trade, etc. "Absolute volume" would be more the thing to look at. I definitely wouldn't take it as any "short position" since the feed would have no way to be able to determine that.
Are brokers like Etrade even taking phone orders anymore?
Well most of those shares probably won't be around long enough to really need to file anyway. LOL
"Here's something interesting, but unsurprising: YKMN has no 1934 registered stock:
We do not yet have a class of equity securities registered under the Securities Exchange Act of 1934, as amended. Hence, compliance with Section 16(a) thereof by our officers and directors is not required.
www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8337285
So we can forget about insider filings."
So what do you think can be the estimated date for the spam and "momo crew"?
Just like a pyramid scheme, somebody puts a square at the top and draws a whole bunch of squares below and sells the ability to put ones name in them. A few technicalities allowing it, but that's still the bottom line. Insiders need more spaces (or more free money)? Just draw more squares. LOL
"400:1 forward split - that is just crazy!"
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73138619
It really is that easy. What a racket. Another come out of nowhere, and rack in some "believers", and dump like crazy. Jeez.
Not a matter of opinion, and you missed the point. It is what it is, no matter how much one wants to marry a questionable stock or ignore the value to the DTCC. So on the other side for great backup and reference is CRWV's great phony PR's and erroneous financials. Not one valid reference for the company. 98%+ loss with a P&D and dubious paid promotions. Wow, great match up to defend the stock to the all the facts that have come to pass with this. Great things to stand by and say that's better than what the DTCC says.
Just because some stock is "trading" does not negate anything I stated. We're talking about any validation for the defense of this company. There are none. Old criminal bankrupt spongy still "trades" every now and then, so do previously SEC suspended stocks on the grey sheets. In fact some like spongy still traded a lot heavier than this one for a year after it got nailed. Same comebacks with that one and others with nothing really could be wrong, and it was all just "opinion", and every criminal thing was somebody's else's fault and not the company's. The DTCC is nothing, the SEC is nothing to worry about.
It is the fact that they got nailed in the first place. The DTCC doesn't restrict stocks that are ok or following all the rules of decent business, the SEC doesn't suspend stocks just for the heck of it. It is not a very good trading or investing strategy to be picking the DTCC restricted stocks and exclaiming they can trade. Things will change to the worse with those measly three stocks that you have, I don't care what they are. You can go ahead and call that my opinion, but my opinions here have regularly turned into fact. So I'm batting pretty good.
There are hundreds of examples of just negative results and heavy losses with the whole list of DTCC restricted stocks in comparison to only a relatively few that can truthfully say that they trade ok -- documented fact. This stock does not trade ok. But there will always be some that ignore the obvious even after the volume goes to nothing, value goes to nothing, or even if criminal charges are levied.
One will not get anything but a DTCC statement by restriction or maybe a SEC suspension dropped on them with no notice. A shareholder also won't get any validations from CRWV and haven't at all. That is how the pinks work. Play on people emotional ties and thinking that it will recover and after the initial "Dump", just slowly bleed out shareholders pockets, just like has happened here.
Play on the foolish belief that the DTCC actions mean nothing or that there aren't any federal charges "yet", it must mean that it's fine and no reason to be critical of one's investments.
The only "reliable source" that has spoken has been the DTCC. They spoke loud and clear. Some only want to ignore just how reliable they are, but it doesn't change the fact that they speak volumes by their actions. Their level of oversight and control over the market place can be labeled official and powerful.
As far as any other "reliable" or official source to back up anything that CRWV has, that's non existent. The company, their PR's, and financials have all proven to be an unreliable source and definitely can't be trusted.
Since there are so few "words" to try to debate, I'll help out and post some more. Full SEC bulletin here:
http://www.sec.gov/investor/alerts/tradingsuspensions.pdf
"This bulletin answers some of the typical questions we receive from investors about trading suspensions."
Nowhere does the SEC state that reasons listed are limited to those reasons or that they will even state all the reasons upon a suspension and many times don't. They just give some examples here that are "included" in the reasons.
"• A lack of current, accurate, or adequate information about the company, for example,when a company is not current in its filings of periodic reports;
• Questions about the accuracy of publicly available information, including in company press releases and reports, about the company’s current operational status, financial condition, or business transactions;
• Questions about trading in the stock, including trading by insiders, potential market manipulation, and the ability to clear and settle transactions in the stock."
They make it clear that they will maintain secrecy to any public;
"The SEC cannot announce that it’s working on a suspension. We conduct this work confidentially to maintain the effectiveness of any related investigation we may be conducting. Confidentiality also protects a company and its shareholders if the SEC ultimately
decides not to issue a trading suspension. The SEC is mindful of the seriousness of suspensions, and carefully considers whether it is in the public interest to order a trading suspension."
"The SEC will not comment publicly on the status of a company when the ten-day suspension period ends because the company may still have serious legal problems. For instance, the SEC may continue to investigate a company to determine whether it has defrauded investors. The public will not know if the SEC is continuing its investigation until the SEC publicly announces an enforcement action against the company."
Then there is some information on Broker and FINRA approval, form 211, etc., and state;
"However, limited or “unsolicited” trading can occur in a stock that has been subject to a trading suspension after the suspension ends but before a Form 211 is approved. This may allow investors to trade the stock when a broker or adviser has not solicited or recommended such a transaction. Even though such trading is allowed, it can be very risky for investors without current and reliable information about the company."
"The trading suspension may raise serious questions and cast doubts about the company in the minds of investors." (as well it should)
"Take Precautions following an SEC Trading Suspension: Check for Reliable Information.
Investors should be very cautious in considering an investment in a stock following a trading suspension. At the very least, investors should assure themselves that they have current and reliable information about a company before investing.
• Research the Company: Always research a company before buying its stock, especially following a trading suspension. Consider the company’s finances, organization, and business prospects.
"Be Skeptical"
There is a lot more at the site
http://www.sec.gov/investor/alerts/tradingsuspensions.pdf
Of course the SEC uses that aspect of it. The SEC leaves all sorts of room so they can "maneuver" anywhere they see fit. They are very discrete in their investigations and do not give the public anything at all until their investigations are over, and sometimes not even then. The DTCC doesn't give anything at all to the public, companies or nobody can work around any words there. And trying to debate the few general words given by SEC is just a fools game.
No matter what is given for any comparison, there will be the non acceptance of it by the promotional garbage and defense of the scam company. But no matter how one looks at it, tries to compare (or say that this company is "different" or "special"), the actions of the SEC and the DTCC are very grave and serious. No matter how the "company", insiders, or anyone wants to spin it, they can't without just looking plain foolish.
It just has grave and serious consequences to any stock that the SEC and the DTCC come down on. Anyone has to take the fact that it was done as indication that there is lack of quality and extreme risk of any "company" involved, for any reason. There is no good thing or saving grace about it.
That's why they have the attorney, for protection and/or benefit for the "company" and insiders, they are in deep crud. It's not really for any common shareholder. The seriousness and implications that comes with the SEC hammer puts them at terrific risk for future litigation along with the consequences of restricting their money flow. And it doesn't matter whether anyone wants to find or admit to some "comparison", ANWM are the ones that are tagged and "it".
I know what your saying and what you believe, and you're welcome to that "belief". That's what is subjective, and only to the eyes of "believers". I don't want to be sold their water system and I don't want to sell you any water system. I'm not a salesman, I'm a consumer. I disagree with your "comparisons" and I know that a lot of the public money will also, that's just the name of the game.
Included in the description of "selling" is the act of trying to make one a "believer" in some process of system or product. The "believers" may be quite hard for AQLV to get enough of and get the "comparisons" that is desired. It's not just a matter of what is cheapest, but those "comparisons" also.
I'm sure they will get some sales just on the fact it's more expensive which leads some to thinking or "believing" it is the best just on that. There is all ranges of types of sales. But the company will need a lot of them and that's where the problem may lie.
Want to welcome Janice Shell to the Mod position of CRWV. Glad to have you js, welcome.
I would also like to address the false and misleading statements that were just erroneously posted. FACT -- CRWV lost almost 69% on heavier volume since the first of Feb. FACT -- That is a MAJOR movement down.. FACT -- It failed a major MOMO attempt on the "bounce" from that "major movement down" and any decent solid recovery, which followed by falling immediately going to the lowest trading levels since the last time the shell did a P&D. This all happened through February.
Then as I predicted and pointed out at the time when it was mulling around the lowest trading levels, it DID NOT hold and sunk to even a lower trading level with the last trading day, Friday. That became the absolute worst CRWV ever has done (except when the shell devastated shareholders before the RS). The majority of trades went for the low of .0016 and again documented FACT.
It is now at risk to have the trading level fall even further down and breaking even the all time spike low of .0015. Sure as with any stock it goes up and down, but overall the levels are falling lower and lower, with dollar volume getting less and less and ability to get anything out of the stock is getting less and less available.
Here is another big FACT -- out of about 1600 ticks from last fall, there are only about 16 ticks left before absolute ZERO in pps.
Just because someone has a positive or negative opinion about any particular water system does not negate the fact that there is other competition in the market place with views that some less expensive product is just as good or better. Those views towards a less costly system will be amplified in a struggling economy like we have right now, beyond the normal pressure to find enough "believers".
Not sure why there is such a struggle over that and trying to deflect those issues. I'ts not my fact, no need to attack me for what is prevalent in our capitalistic society, it is just Business and Marketing 101.
Again your comments are not dealing with the subject being discussed. Maybe one should go back again and read all the posts. But let me refresh part of it.
"I stated he had every option to have an opinion and "buy one". I stated that it was the public market that would need to be having the "opinion" and if they wanted to spend that kind of money when in fact there are many other systems out there that supply the demand that are less expensive (there are), and it was a very competitive market. I stated that I was part of that public market and spends money on water systems and that my money would not go to the system and that much of the public market would have the same issues.
The subject was not about his opinion, that it was "subjective", and the issue was the difficulty that the company's water filter system would have with the competition in the general market, especially in a suffering economy."
"If they were having such a easy time of it, it sure wouldn't go to a Rent to Own, or be a little pinky stock with fluff $50 Million pink give-a-way schemes."
What? Need to reread the posts. What I said is I wasn't wrong and it was just a matter of "belief" to the system. I stated that I wasn't going to start selling him water systems and that it would be a waste of time to argue "opinions" about water systems.
I stated he had every option to have an opinion and "buy one". I stated that it was the public market that would need to be having the "opinion" and if they wanted to spend that kind of money when in fact there are many other systems out there that supply the demand that are less expensive (there are), and it was a very competitive market. I stated that I was part of that public market and spends money on water systems and that my money would not go to the system and that much of the public market would have the same issues.
The subject was not about his opinion, that it was "subjective", and the issue was the difficulty that the company's water filter system would have with the competition in the general market, especially in a suffering economy.
Most of my statements are based on historical facts that are already documented and are no longer opinion. Other statements are based on my maturity and overall experience. I've done a lot of real research on the CRWV subject and it's problems as a valid business. Any opinion that I may have is based on real DD and not just "belief", "hope", or promotional statements.
The fact that that there is the total lack of verifiable evidence to any of what the company has stated. Fact that it is the company's full responsibility to supply publicly documented validation to any of their claims. It is fact that in CRWV's own financials, there is problems with share issuances. There is fact that it was Pumped and Dumped and now has lost 98%+ of it's value. It is fact that the shell previously went through a detrimental loss for shareholders, several different business structures, a RS, and returned to do the same thing with fraudulent gold claims.
It is fact how these penny stock scams operate. It is fact that perpetrators just keep doing it as long as the public doesn't take responsibility and a reality approach to investing or trading in them. It is fact that it shows too many similarities and red flags that the SEC, FINRA, and other reputable sources warn investors about.
It is fact that the DTCC has problems with the stock. It is fact that no matter how people want to blame or negate the DTCC, they are in fact a big part in how stocks get through the market and how the restrictions will effect value and/or liquidity or costs in the longer term. It is fact what the statistics are for stocks like CRWV that have been deemed too much of a "risk" by the DTCC.
It is fact that there have been way too many false statements in support of this stock.
I could go on about all the facts and not opinion and how any opinion has been created by the facts. But again, if any shareholder feels "insulted" or "degraded" by any tone of realism with this stock, that might be a sign that any "investment" in CRWV was misguided and misplaced. Maybe consider not being a shareholder.
If CRWV was a real true positive investment, then it wouldn't feel slimy and "insulting". There wouldn't be questions to its validity or indications to something not quite right. There would be solid substantiated good business practices, validated operations, and financials that truly follow proper accounting principles. It wouldn't be just another stinky P&D, and I personally wouldn't be here with negative facts and/or opinions, or my tone of posts.
1manband was one of the first posters to share REAL DD and his good knowledge of mining and this business with CRWV. If a lot more people took note of what the statements were starting back in the fall beginning about six months ago, there would be a lot less losses endured.
Personally I would suggest anyone to pay attention now to the facts that 1man has and does point out about the business and definitely about CRWV. Of course there will be things that might seem a little dry, and there won't be passive cuddly statements like "CRWV isn't in the trips yet, so it's ok", but one will find some good real life input that one can use for real life CRWV market decision making.
I do believe "most on the board realize" this stock is a SCAM, but there will always be the minority few who don't want to admit it or don't want to hear it. I realize this with being here from the beginning and doing real DD from the very start of the P&D and watching the supportive and false statements all the way down to only a couple of percent of original value.
It may not matter whether or not CRWV goes up or down in a particular day such as Monday, or it may depending on the trading action or trading or investment strategies within each player. But overall what it does over time does make a difference, and obviously to some on this board that "worry" about and state "none of us need to hear it over and over that CRWV is bad".
That is the whole reason for the market and in this "big boy" arena. That is to pay attention to the general "higher or lower" of trading or investing of the stock. Pay attention to what the company is, how valid are they, what good or bad business practices are they implementing, and discuss whether or not one feels if it will go up or down with their investment or trade. And yes, discuss the fraudulent nature of CRWV.
This is the REAL world and what life is in the market. It is not some kids Candyland game or a cardboard monopoly board where it doesn't matter. These are big crooks taking real peoples real money. It effects the public market place and reduces available money for any real business that might want to use the system for what it is theoretically for, not for what "companies" like CRWV is using it for.
I personally have no worry and fully enjoy what I do no matter what day of the week it is. That comes with many years of taking responsibility and living in the real world. With that power of recognizing and taking responsibility, I've been lucky enough to create a position not having to wait for any weekend. Even though there may be still work involved, I can "enjoy" any day of the week.
But for those honest souls who look forward to the weekend, have a good one.
"So what is it?"
I wasn't quite expecting the answer to be that CRWV is "degrading" but it does have a ring of truth in it.
The realistic facts are that it isn't holding any "range" at all and keeps going lower. Today, most all of the shares were at the lowest level ever and in fact broke south any previous trading levels (other than the one trade at the end of the day to set a close for some chart that could easily be misread or the last time before the RS, when the shell did it's previous P&D and destruction to ZERO).
I will also see to that (every mod should). And don't worry, the "levels" will get much lower and ability to sell at these levels will get non existent. Many of us, if fact most of the CRWV public (proven by the lack of volume and continuous decreasing pps) is on realistic ground, and that is the highest ground of all when it comes to CRWV.
" YOU and all are welcome to post your comments here on the CRWV Board and I will see to that. So long as they are appropriate, never feel that you can not do so."
Getting a working phone shouldn't be a problem. For $20 a month, criminals can get a virtual office and phone number pretty much anywhere.
But there is always the last "corporate changes" and website from the last cheap fraudulent PR last July 2011 where imaginary people run imaginary companies. LOL
http://ih.advfn.com/p.php?pid=nmona&article=48343652
"The company plans to release more information about its operations, client base, revenues and plans to update OTC Markets "Pink sheets" this month, along with the launch of its Corporate website, currently under development. www.ecowastecontrol.com"
After 8 months it still shows
I guess they could use that number and Brian Zola name (but I suppose they wouldn't be that stupid this time, but nothing would surprise me with this crud). LOL
How coincidental associated web domains just recently expired.
Of course there is always the plagiarized promo posts and the copy and paste pictures from another company on BEHL's last financial (end of 2010) where the "other company" would not admit anything to do with BEHL (in fact just the opposite).
http://www.otcmarkets.com/financialReportViewer?symbol=BEHL&id=44582
We could always go back further with great business mergers with themselves and fake and invalid business names. But like I said, $20 now gives them a "number". Throw in a new cheap "secret" web domain, some "secret" "management" and cheap phony PR, along with Pawsons other scams, it's a done deal, sheep sheered. The NO BID-.0001 king is crowned again. LOL
So what? Doesn't mean diddly. Didn't before, won't now. Other than maybe more fraud in the works and Pawson and/or his "little me's" scraping the moldy barrel before everything gets flushed completely (SUFF, CBYI, BEHL, all the same messy gunk). Should RM them all into one big pile and call it DIRT, but that ticker name is too clean of name. LOL
There was no personal insult, just a statement of fact that "hope" or "belief" isn't a investing or trading strategy (at least not a good one). Also just statements of fact that just one "green" trade at the end of the day of red volume is not any good thing.
If any CRWV shareholder is "insulted" by any inconvenient truth being spoken about CRWV, or get "insulted" by others holding the "company" responsible, they may want to consider not being a shareholder. Definitely no reason for more unsuspecting public that hasn't learned the lessons yet to cover for company's irresponsible and fraudulent nature of the stock. It's like a pyramid scheme, somebody will be the one holding the bag, and 99% of the time, the "management" or insiders of a mining or any other scam aren't the ones holding. Those "management" and insiders just keep going off and doing it again.
The less shareholders that fall for any fraud and hold the company like CRWV responsible, the better. In the long run, it will turn into less public holding the bag, more restriction to the ones who perpetrate bad business behaviors, and a better market overall.
Well that's why I said it was "sad" and the word "comical" was used as a derogatory impression against CRWV, not anything personal to any common shareholder. Again though, "hope" is not an investment strategy and any REAL verifiable successful mining from CRWV is extremely unlikely and highly improbable. We all have been taken by some fluffy scam stock at some time (including myself), all one can do is salvage what they have and learn from the lessons as quick as possible. That is the positive about the whole thing.
FINRA has a pretty good article that really hits home for the many upside down shareholders of CRWV. Ironically this article was updated about the same time the CRWV shell was coming into the market again with it's gold P&D. Maybe a little late to consider now for most of any investment, but is still a good article to take into consideration when dealing with this stock and any other Gold related stock. Also one could probably substitute the word "gold" with "oil" and relate in a similar manner. Some notes highlighted in RED for a few quick references.
Protect Yourself
"Gold" Stocks—Some Investments Mine Your Pocketbook
The price of gold bullion—which recently touched an all-time high—has sparked considerable interest in gold investing, not to mention aggressive marketing and advertising of gold investments, including gold stocks. And even a cursory Internet search will pull up numerous websites, blog posts, investment newsletters and social media posts (including YouTube videos and Tweets) devoted to the topic of investing in gold.
But some of the stocks and opportunities being promoted have precious little value, and others are outright frauds. This spring, for example, the Commodity Futures Trading Commission (CFTC) took three separate actions against precious metals firms engaged in various schemes involving investments in gold, silver and other precious metals. In one action, the CFTC charged a precious metals firm in Florida with running a boiler room fraud that bilked investors out of more than $23 million.
As with other commodities, there are prudent and not-so-prudent ways to invest in gold. We are issuing this Alert to warn investors about investment scams that promote the latest "hot" gold stock and to provide information on how to invest wisely in gold.
Spotting "Gold" Stock Scams
Many gold-related investment scams involve the stocks of gold mining and/or exploration companies. The stock value is often based on gold reserves that are difficult to estimate, much less verify. While stock promoters regularly cite the potential value of a gold reserve, some statements can be deliberately misleading. For example, in 2010, the Securities and Exchange Commission (SEC) took legal action against a mining company based in Florida for false press releases and other misleading statements associated, in part, with a mining project in Ecuador. The releases claimed the gold reserves were worth more than $1 billion. The SEC noted that the exact value of those reserves could not be known “without further detailed exploration.”
Warning signs related to gold stocks include:
• Price targets or predictions of swift and exponential growth. These predictions often are based on gold reserves, the actual existence and true size of which are next to impossible to verify. A company recently claimed that its mine in Nevada contained “approximately 2.14 million ounces of gold equivalent resources,” with an estimated market value of over $2 billion. Based on these reserves, the company touted in one of its promotions that an investment “Could turn $10,000 into $384,600.”
• References to being a “buyout target” for other mining companies. One company claiming gold reserves valued at more than $112 billion declared in an Internet promotion that it was a “PRIME BUYOUT TARGET” at a buyout price that was 15 to 35 times its current value, which was around a dollar.
• Claims that tie stock performance to the general rise in gold prices. Stock prices tend to rise or fall for a host of reasons, such as overall market conditions, sector performance and an individual company’s earnings. A rise in gold prices does not guarantee a rise in the price of a gold company’s stock—there might be little or no correlation between these two things.
• Scare tactics such as the threat of inflation or an economic meltdown. While some investors might hold gold as a hedge against inflation or economic uncertainty, owning a gold stock does not automatically serve that same function. Scare tactics are often used to push an investor to make a quick decision.
• Speculative claims based on a new reserve’s proximity to an existing reserve. A company recently stated in one of its promotional materials that its mining property could be worth “billions in unrecovered gold” based “on the success of its neighbors.” Without more information, such an assertion amounts to little more than idle speculation.
• A change in the company's name or trading symbol to align it more closely with gold. One company that currently purports to engage in gold mining and exploration was originally incorporated with a business strategy to provide golfing opportunities on private courses to nonmembers. Another’s original focus was to establish health spas in urban areas. Yet another cited its original business plan was to develop, manufacture and sell commercial feed to nurture the Chinese mitten-handed crab. Name changes are reported through SEC Form 8-K, which you can find by using the SEC's EDGAR database.
Fool’s Gold for Lunch
Be wary of “free lunch” programs that purport to provide educational information about gold investing. In June 2010, the SEC charged six individuals with running a Ponzi scheme that bilked more than 3,000 investors out of $300 million. The fraudsters, none of whom were registered to sell securities, claimed to represent an independent financial education firm that had discovered a way to earn up to 36 percent annual returns by investing in mining investments that were “fully collateralized by gold.” Rather than invest the money, the firm’s salesmen used the assets on lavish home renovations, mortgage payments for members of their extended family and the purchase of a luxury fishing resort in South America.
In addition, be mindful of warning signs common to many stock scams:
• Claims that making profits in gold are "easy."
• The use of headlines from respected financial news sources regarding gold, which can easily be taken out of context.
• Mention of the names of major investors or investment institutions that provide an air of credibility.
• Statements about how much easier it is for lower-priced stocks to skyrocket in value in comparison to higher-priced stocks.
• Pressure to invest immediately.
Smart Tips
To avoid potential gold stock scams:
• Investigate before you invest. Never rely solely on information you receive in an unsolicited fax or email. It's easy for companies or their promoters to make exaggerated claims about new products, lucrative contracts, or the company's revenue, profits, or future stock price. Be wary of claims about significant mineral reserves or mining operations in countries far removed from the U.S. that make it difficult to verify such claims through independent research.
• Always ask: "Why me?" Why would a total stranger tell you about a really great investment opportunity? The answer is that there is no such opportunity. In many email, fax and online scams, those who tout the stock are corporate insiders, paid promoters or substantial shareholders who stand to profit handsomely if the company's stock price goes up.
• Read a company's SEC filings, if available. Most public companies file reports with the SEC. Check the SEC's EDGAR database to find out whether the company files with the SEC. Read the reports and verify any information you have heard about the company. But remember that just because a company has registered its securities or has filed reports with the SEC, it doesn't mean that it will be a good investment.
Alternatives to Gold Stocks
While you may be tempted to invest in a single stock, it is very risky to put all your “golden eggs” in one basket. Investing through a mutual fund or exchange traded fund (ETF) that focuses on gold companies or gold itself can help spread out and potentially lower your risk. Take the time to research fees and other expenses. Review the underlying securities that make up a given fund. You can do so by going to the issuer’s website, reviewing the latest quarterly report showing the fund’s major holdings or, in the case of an ETF, the exchange on which the ETF trades. Research the fund's manager or management team and read the prospectus carefully, and consider enlisting the help of an investment professional before you invest.
If you are considering a mutual fund that focuses on gold, be aware that most gold mutual funds primarily hold mining stocks, many of which are international, but some hold physical gold, as well. Mutual funds do not allow investors to take possession of physical gold.
If you are considering investing in an ETF that focuses on gold, understand its structure, including whether it uses futures strategies—and whether or not it holds the physical gold, invests in gold futures contracts or tracks a gold-related index. Be aware that ETFs that are backed by physical gold are not the same thing as a direct investment in gold. While some ETFs that are backed by physical gold allow individual investors to redeem shares for bullion, the ones that do may only allow physical redemptions under certain limited circumstances. So while they may be effective at offering exposure to gold prices, most are not an efficient way to obtain an ownership interest in physical gold. Therefore, if you are investing in a physical gold ETF, make sure you understand your redemption rights. Depending on its legal structure, a gold commodity ETF can be subject to varying tax treatments. Be sure to check with your tax advisor about the consequences of investing in a gold commodity ETF.
If you are thinking about investing directly in bullion or gold coins, similarly research your options. For a basic how-to overview, questions to ask and additional resources, read the Federal Trade Commission’s Investing in Bullion and Bullion Coins. Investors should be aware that while some gold promoters and dealers deliver what they promise, others don’t. Also, verify that a ready market exists to liquidate personal holdings of bullion and coins at current market prices and the related transaction costs.
Finally, be advised that while legitimate gold and ETF investments may be an acceptable diversification strategy, these investments can be quite volatile. A heavy concentration of gold investments can leave you overly exposed and at risk of losing a substantial percentage of your money.
Touts and outright scams come in many forms and involve many types of investments. Right now, you would do well to avoid unsolicited promotions of low-cost "gold" stocks. They are likely to mine a hole in your pocketbook.
Additional Resources
• Investor Alert, Stock Spams and Scams
• FINRA BrokerCheck
• Commodity Futures Trading Commission Litigation Release, CFTC Charges Florida Firm, American Precious Metals, LLC and Principals, Sammy J. Goldman and Harry Robert Tanner, Jr., with Fraud
• Commodity Futures Trading Commission Fraud Advisory, Precious Metals Fraud
• SEC Litigation Release, SEC Brings Action Against Purported Florida Mining Company and Its President for Fraud
• SEC Release, SEC Charges Perpetrators of $300 Million Ponzi Scheme Involving Purported Gold Mining Investments
• Federal Trade Commission Consumer Alert, Investing in Bullion and Bullion Coins
• Federal Trade Commission Consumer Alert, Investing in Gold? What’s the Rush?
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Last Updated: 8/24/201
http://www.finra.org/Investors/ProtectYourself/InvestorAlerts/FraudsAndScams/P124119
I'm still waiting for them to round up all the Etrade babies and change that tune. That will set off a whole mine field. It's really not a matter of if, but when IMO. Just common sense.
I've actually have on the record a few hundred thousand at .0015 but they were basically just some quick spikes downward. But for the bulk of shares going for .0016 is definitely the realistic low and the chart is pointing further south.
CAMS is like THRA and others, just has more services denied. Although some SEC suspensions are levied with many of the DTC restricted stocks. But there are actual "all services restricted except CS" on the list. Any of those should probably be included for the "list".