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Once a believer, doesn't mean I stopped doing my DD study. When I raised my questions about their HIGH ACCOUNT RECEIVABLE problem, nobody could give me an honest thorough reply. That's when I started selling the stock.
Isn't is nuances that u don't read I put today, but try to find what I put two months ago?
So LONG_______________
Some truth in ur numbers. I do respect ur way. But honestly, this several thousand a day can really make me fall into sleep.
Again, thank u very much for the input.
Sincerely
Only several thousand shares of this penny stock? What u r waste ur time for?
What PM?
Show us ur spread sheet from whichever broker ur bought from:
Bought and sold.
Then brag.
If nothing solid, how can I trust u?
Once a believer, doesn't mean I stopped doing my DD study. When I raised my questions about their HIGH ACCOUNT RECEIVABLE problem, nobody could give me an honest through reply. That's when I started selling the stock.
So BBB, be real, tell us when did u buy this stock at how much and ur current positions u have with the stock.
Or r u another bumper that just get paid to do the job?
That's the problem of this board:try to chase anyone with different opinion so they can boost the price.
Sorry, I will stick here to see who can really do against SEC regulation and what is the relationship between them and the insiders.
U but a bumper with no solid opinion.
Show us ur positions with how much before u can honestly say u r not a bumper!
How much did u pay for ur stocks:ZERO?
I sold some at 0.24 and 0.258.
I am not sore about it. Just want to remind people what this stock really is.
Why don't you tell people what u have found on May 1 & 2 of 2006 the price jump to 0.35, then on May 3rd it dropped to 0.25 until it dropped to 0.09 on September 19th,2006.It has never grown back to 0.20s until the reverse merge.
Yet with the over supply of this stock to the old management(25%), the stock will keep on being lowered for a long time until they stopped supply their stock to the market.
Since they almost got the stock for free, they will sell them at any price. The real resistance is 0.09/share.
some people argue this is a new company. But remember they have carried a lot of the burden of the old company:gave too many stock shares to the old management is one of them. They can not control the game play of the penny stock player like NITE who has almost endless shares of the stock to pour into the market.
For them to boost with 20,000 to 30,000 dollars temperary loss which they can regain by the end of the day is nothing.
Learn my lesson: do not to be trapped again by this stock.
History is to be learned:Check this stock on May 1st & 2nd,2006 and then on May 3rd on it started dropped further. Until it dropped to 0.08. Previous to this the previous owner or his group knows the game too well,they have been doing this over and over again.
For any investors, watch out, this is not a stock to invest.
If a paid bumper is not doing his job,he will be fired.
Sorry I learned that u r a paid bumper too late. Yet not late enough to reveal ur stupidity.
Anyone serious in buying this stock, do not listen to Long-vestor.
I could name him Long-pest of the board.
Smartass, didn't u c the stocks started falling already? U think it will take me forever to learn this poor game.
Long, if u really have money, could u do as I did, show us how much u have for this stock?
Otherwise, I will assume u are a paid bumper!
If you can see with your own eyes:for the price range each transaction is about 10000 shares, then they will go for next price range. If you don't believe me, try to sell them at 0.27 for 50000 shares----No real buyers will show up.
If you hold 500,000 shares, sorry you can never cash out at this penny stock level!
It will drop for sure very soon.
Don't u try to lure me in with 20,000 to 30,000 dollars growth in one day. I could throw that much money to boost the stock without any news.
I lost 100,000 dallars in this stock. Now I know the game:creat a ridiculous boost and lure the fools in. They can sell as much as twice the stocks by doing so.
"Wise man say, only fools rush in, but YOU can't help fall in love with GTEC"
LOVE IS BLIND.
You are the only one telling the truth!God bless you!
Long, I guess you have been stupid for too LONG and can not think clearly.
You showed everyway that you are a PROFESSIONAL BUMPER of this stock.
Does you opinion counts? No! You can forget give any more comment about my opinion.
Save some energy for surfing since you or your girlfriend always shows up when you have something to say. Even not important.
I admit I am not that wise. But better than you when you see 6 figures bothered you so much!
If I am Sxxxx and make this much money, LOSER try to be a better bumper.
I have been nice in ways of talking to all of you, yet besides being rude and an obvious bumper, getting paid or got stuck with this stock, someone on this board could only behave like a street begger.
So get out of my way and do not get my shoes dirty when you beg for pennies.
Doesn't this one show that you have cancelled all your purchase of GTEC by this pic.file?
How amusing!
With another 200,000 sold today, I will tell you why:
Remember I posted that I sold 350,000 shares around 0.25 and asked why their Account Receivable were so high? If their sales were as high as their Account Receivable, means they "sold" the goods, but they have not got the money.
Some of you kindly told me I could write to them and gave me their email address. I wrote, NO RESPONSE WHAT'S SO EVER!
Further on, I found what some of the "longs" have only been holding for the "future"----which may never realize. A lot of plan,goal,wishful thinking, in reality, the stock price has been further dropping,every day!
If you ever see a price rise, it is a 500 share which means nothing to the real trend of the market.
Everyday before the market close, you will see this effort.
Friends, please open your eyes!
I believe the GTEC are bunch of nice people, yet only being nice can not save the market. They need more professional people:from their PR to their marketing strategy.
Now I just wish those who keep holding the stock:Good Luck!
I will be here from time to time to see you!
If you read carefully, I told you I sold 350,000 the other day. After the email that someone on this board recommended me to write to has not been answered by Mr. Gorden or anyone from GTEC, I sold my rest 200,000.
I respect you as you are, any degrading language is not necessary for our discussion.
Today's Completed Orders
Symbol Action Qty Acct Type Price Total
GTEC SOLD 2000 CASH $0.191 $380.08
GTEC SOLD 3000 CASH $0.191 $563.12
GTEC SOLD 5000 CASH $0.19 $945.23
GTEC SOLD 5000 CASH $0.19 $945.23
GTEC SOLD 6600 CASH $0.19 $1,247.71
GTEC SOLD 5000 CASH $0.18 $888.48
GTEC SOLD 30000 CASH $0.18 $5,372.91
GTEC SOLD 10000 CASH $0.18 $1,790.97
GTEC SOLD 10000 CASH $0.18 $1,790.97
GTEC SOLD 25000 CASH $0.18 $4,477.43
GTEC SOLD 25000 CASH $0.18 $4,477.43
GTEC SOLD 25000 CASH $0.18 $4,477.43
GTEC SOLD 10000 CASH $0.18 $1,790.97
GTEC SOLD 5000 CASH $0.185 $913.35
GTEC SOLD 20000 CASH $0.18 $3,574.94
GTEC SOLD 5000 CASH $0.18 $895.48
Do your own math!!!!!!!!!!!!!!!
Sentiment : Strong Sell
The above is what I sold today.
I don't blame no one. Yet if this board will chase everyone like me out of the board who made such a huge loss at this stock, the rest people like me will fall into the same trap again.
I lost money, but I will remind other poeple do not make same mistake again.
Let the insider have no room to lure the future "unfortunates" into this stock!
First of all, I really liked Carl's analysis.
Yet, just because his writing was so cool, that I invested 500,000 of GTEC. But now I have to write against what he described to us----line by line so all the investors(not day traders)can be clear about this stock before they further their loss:
1)The outlook is great! But reality is terrible!
2)My questions to Mr. Coulson were never answered, Very Not Impressive!
3)The dividend for US shareholders will further drag down the stock price, guess this will keep the price going downward to another month or two, to say the least.
4)Let's hope the quarterly results will be more positive this time:until Mid Feb, we won't know. Yet the previous "good news" has never really made the market move upward, I doubt this time it will. Let alone they might have another "production stoppage due to the machinery check". Didn't I read somewhere their production capacity hasn't been fully utilized? I believe in China, if there is a demand in the market, the production will never slow down, let along a company with such huge production compacity.
5)Now we know the time table for NASDAQ is relying of the "proper submission" to SEC, which means they have to do the reverse split before they apply, which further delays their application, which the price will go further down. Let's assume they get a 50 to 1 reverse split at the price of 0.10/share, that will make them $5/share after reverse split. Until the price will go $10/share we might recover the loss we experienced----those who bought at 0.45 and up per share and hold them. Normally it will take about 5 years for them to do so, just assume they are still in the market. If you can hold that long, good for you. Otherwiae, a solid Mutual Fund which performs 20% to 40% return for 5 years continuously might be a safer choice to recover the loss, rather to get stuck with this poor performed stock.
6)To get 3 stock analyst to cover GTEC doesn't change the fact it will go through the process I described above.
7)I might still hold this stock if I got like what you did:almost like an inside deal 0.13/share. Yet for us "impatient unfortunates" that those who got our "unfortunates" money lost is partially due to your help.
I am writing here to warn the "unfortunates" do not be trapped by your sweet words again, do not even consider come in if they haven't bought the stock----you guys who got this at a much cheaper price can always laugh at "impatient unfortunates" while making money from the stocks bought so low. I bet there are so many people like you----the group of the previous owners of GTEC. You might have to stop laugh and smiling----I am here to reveal this to as many people as I can.
The trick of winning this stock is----not get in any time. Let those who got the shares at a "fortunate" get dried.
Now you can imagine yourself in the position of the "impatient unfortunates". Ha!
With another 200,000 sold today, I will tell you why:
Remember I posted that I sold 350,000 shares around 0.25 and asked why their Account Receivable were so high? If their sales were as high as their Account Receivable, means they "sold" the goods, but they have not got the money.
Some of you kindly told me I could write to them and gave me their email address. I wrote, NO RESPONSE WHAT'S SO EVER!
Further on, I found what some of the "longs" have only been holding for the "future"----which may never realize. A lot of plan,goal,wishful thinking, in reality, the stock price has been further dropping,every day!
If you ever see a price rise, it is a 500 share which means nothing to the real trend of the market.
Everyday before the market close, you will see this effort.
Friends, please open your eyes!
I believe the GTEC are bunch of nice people, yet only being nice can not save the market. They need more professional people:from their PR to their marketing strategy.
Now I just wish those who keep holding the stock:Good Luck!
I will be here from time to time to see you!
Thank you guys for giving me the credit. I still think this so far is a good stock, yet with the problems that everyone can see:price too low for too long a time, even the positive news came out.
I am posting after I sold the stocks doesn't mean I don't want to come back. I just want clever guys to iron out these problems before I can pick up my confidence again.
For my honest opinion, and my DD----I even called my Chinese friends in China to see if this normal for the account payable amounted so much----even after three month,which is a quater, not much money came back after they sold the medicine to whomever. They said normally 1/3 should be back to say the least.
The reason I keep on posting my concern was to get some different ideas see if you guys can clarify my concerns.
I will address this question to the company when I have a chance. I will share theri answer once they reply.
Again, thanks for your guys for being informative.
Further reasons why I sold this stock..
I just realized that due to the dilution of the stock,
the present stock price is still much higher than the
previous owner's period. Yet they took the advantage
of selling the stock they owned with an exploded
amount at an exploded price. We the new believers of
the stock supported this stock and suffered loss. 50%
of some of our investment into this stock is gone!
Since the price and amount of the stocks were
so much ballooned, I believe there is much more room for
the price to go down.
Sentiment : Strong Sell
I bought 350000 shares around 0.45/share, so paid around $157500. I sold them around 0.25 when I realized that it has been going down none-stop! Then I realized that 1)the previous owner group got too many of this stock for too cheap. 2) Their A/R is way too high compare to their sales. Lost about $70,000. Had I stayed further, I would loose another $7000 as of today.
If you ever get a chance to get an answer from the management, maybe they can give us an answer as you did get some replies from them.
Thanks for being informative.
Generally, I really like your opinion trying to be positive. I had a hard time to decide to sell since I really liked the stock for as many reason as you have described.
Yet, after comparing this stock A/C situation with other firms who attended Ruth conference, I came to the above conclusion.
Could anyone honestly tell me it is normal to have the A/C as much as sales?
I understand Mr. CEO wanted to show us the good results of sales, yet collecting money will be his next job. Hope his next quarterly report can show it.
for some of you who missed my point of A/C number were from last quarter's financial, I will try to paste it below:
http://yahoo.brand.edgar-online.com/fetc...
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------------------------------------------- ---------------------------
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): November 19, 2007 (October 1, 2007)
----------------------------------------------------- ---------------------------
GENESIS PHARMACEUTICALS ENTERPRISES, INC.
Three Month Period Ended September 30, % of Three Month Period Ended September 30, % of
2007 Revenue 2006 Revenue
SALES $ 15,262,789 91.88 % $ 16,945,651 94.13 %
SALES - RELATED PARTY 1,348,095 8.12 % 1,055,905 5.87 %
CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30, 2007 AND JUNE 30, 2007
ASSETS
September 30, 2007 June 30, 2007
(Unaudited)
CURRENT ASSETS:
Cash $ 4,570,864 $ 17,737,208
Restricted cash 5,604,934 8,410,740
Accounts receivable, net of allowance for doubtful accounts of $169,105
and $166,696 as of September 30, 2007 and June 30, 2007, respectively 15,192,367 11,825,442
Accounts receivable - related parties 1,728,038 498,940
Other firms are not having such a huge A/C..
Sentiment : Strong Sell
Why I sold my 350000 shares
I was discussing this stock with a friend who helped AOB to get the reverse merge.
He told me his finding which astonished me....
1)The reverse merge left too many stocks to the old management----they had too many stocks at the price almost FREE,which explains why the stocks keeps on falling:supply is more than demand. Even the best thing in the world, if the supply is too much, price will go down. Maybe some of you can still remember the scene the farmers had to pour their milk away as there was no one wanted to buy!
2)Among the SEC filing of 11/19/07, 8KA, there is one thing that even I,an experienced business owners neglected----their sales volume is almost the same as their account receivable. This means they sold their product almost for FREE, just to create the sales volume. Did you have a sales person in your firm always told you that he sold this that huge amount that made you happy, until you found that the buyers had a great term----they almost never had to pay the money because John Doe told them they could try the products, if they did like the products, they could return it any time, no questions asked. Sounds nice. In reality, they made you to pick up the goods if you wanted them to return, on top of that, a lot of the goods became unsellable.
As a business owner, I had to fire this sales person, no matter how sweet the person seems to be and took the loss this person caused me.
I took a loss this time again before further damage this stock is going to bring to me.
I loved this stock. Yet as the saying goes:you should not fall in love with a stock. Because LOVE IS BLIND.
GLTA.
Sentiment : Strong Sell
It is high time to BUY!
We don't mind whoever is behind the scene, the bottom line is----this is a great company with great trasparency. They are moving on. They are the leader. Go with the WINNER!!!!
Sentiment : Strong Buy