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QASP----
What a house of horrors. Anyone with half a brain should run for the hills. many have been warned long enough.
I think she was just saying, not implying it would be there anytime sooner or later. geez.
BTW---How's that shorty-changy thing working out for ya? Feel free to join the 1.5% short interest. Doesn't seem to be much conviction with that number. lolol
Well---that is solid DD?!?! Thanks for the hard work in your determination, and thus the contribution to the board.
hahaha---yeah, a great trader my arse. All of his picks did so well huh?. Look at em. He is a great scammer by telling everyone to buy while he sold....that's it.
I hope he ends up broke and in jail stripes doing hard labor and marrying Bubba.
Funny how varmin show up with no skin in the game and add no less DD themselves.lol
Hold at least for 16.00/share and it probably will. easy double from here---no brainer imho.
Get real. hardly a pump, although at times I wish the company would pump a little more. You have no evidence whatsoever of a pump. As far as a dump, it appears that our friendly 504's are guilty of it, so I concede that.
Joe has shown his cards a heck of a lot more than Jeff "Dean"Genova" Bradley and Jimmy-James Dean Owens.
Me thinks the shareholders bark up the wrong tree while the real crooked perpetrators skate (Dean, Lisa, Jeff, etc.).
Anyone with common sense.....run from these scams.
I have dry powder if/when that occurs. I still expect some up and down volatility in the next few months ahead.
adding on dips. picked up more at 7.40
Nice move today. Had pre-market limit orders in for 13.88 that all executed. Looking for re-entry.
Agree also on the PPS. My time horizon is a little iffy I should say. 6 months would be nice, but may take a bit longer.
This is a no-brainer. $16 to $20 stock within the next 6 months, maybe sooner.
That was my thought, or could be a .005-.008 buyer locking in profit. Either way, the good thing is that someone ate em up.
Bove: I Changed My Mind: Buy Bank Stocks Now
Wednesday, 24 Aug 2011 12:28 PM
By Forrest Jones
Banking analyst Dick Bove says he's changed his mind on bank stocks and say they're a good buy now.
The famed Rochdale Securities analyst tells CNBC one month after urging investors to sell bank stocks that those who heeded his warning and sold took their proceeds and stashed them back in the banks whose stocks they were selling.
In just two weeks, $200 billion in new deposits have flowed into banks.
"In the last few days I started looking at valuations of these companies and was just shocked by what I saw," Bove says.
"These stocks are selling in many cases at lower valuations than the first quarter of 2009, which was supposedly the bottom."
Bank of America, for example, is sitting on $140 billion in cash, more than its total tangible book value, and well above its $65 billion market cap. The company’s stock has plunged 30 percent in the past month.
Translation: it's oversold.
"What the market is saying is that this thing isn’t even worth its liquidation value when its liquidation value is in cash," Bove tells CNBC.
Despite taking a beating in the stock markets, banks are recovering from the Great Recession, officials say.
The number of banks on the government’s list of institutions most at risk for failure fell in the second quarter, dropping by 23 to 865 — the first drop since before the financial crisis began, the New York Times reports.
"Banks have continued to make gradual but steady progress from the financial turmoil and severe recession that unfolded from 2007 and 2009," says Martin J. Gruenberg, the acting FDIC chairman, according to the Times.
http://www.moneynews.com/StreetTalk/Bove-Buy-Bank-Stocks/2011/08/24/id/408503
Adding today-just a little more. This could re-trace into the 5's, but imho that is a screaming buy area. I'll add more then too.
Good post. Agreed. Things will be volatile for a while with some upswings and downswings in the shorter term, but BAC is a winner and an easy double + from here. Buy the stock, add on dips, and forget about it for a while.
Someone bring me up to date. What happened? I was out of it with a shoulder surgery on Thursday and just got to check it this mornin.....and wow. I really love that additional 250,000 shares I bought from .014 down to.005.
Thanks Trade2much. I agree. And I love the long term prospects of this company and the long term aspects of natural gas.
Exactly what I have done.
adding as well. risk-reward looking much better at these levels.
In at 7.47. This is an easy double from here.
Why own America’s biggest bank?
In short look at the following:
• The bank is selling at less than 5 times next year’s
earnings.
• It’s selling for 58% of its tangible book value.
• There is a $939 billion loan portfolio which has $37
billion reserve built into it. By the way learn this. Banks use their loan loss reserves to manage their earnings. Any time they want to show a great quarterly profit, they decrease the loan loss reserves and take billions into earnings. It’s not real earnings of course, it’s just an accounting entry, but it fools investors every time just like it did with Wells Fargo in the last quarter.
• In the last quarter, the bank generated $6 billion of
net income taking out the residential mortgage division. You are talking an institution that can earn $30 to $40 billion per year.
• They have a trillion dollars; yes a trillion dollars in
deposits.
• After the financial destruction of 2008, these guys
have it down pat. They know what they have to do. With the destruction of Wall Street, the big banks got bigger, and Bank of America is the biggest of them all.
The Negatives
Of course there are negatives. You don’t find bank that is trading in the single digits unless there are concerns. The biggest concern is the CEO Brian Moynihan who is in need of a transplant to get some IQ points into his skull. If they fired the loser, the stock would be up 20% in a couple of trading hours, but he is not about to go.
The real estate division has shown startling losses of $14 billion in the last quarter, but it’s not money out the door.
The bank simply increased it representations and warranties provision for it believes to be likely losses at some point.
They also announced an $8.5 billion settlement with Bank of New York Mellon to cover a settlement. Again this is for the stupidity of the 2008 period.
Do we see the loan loss reserves being increased for other stupidity – of course we do? That’s why you are buying the common stock for a song. This bank is too big to fail, actually way too big to fail. They are going to get bigger. Only dumber group of management we have found is the guys who ran Merrill Lynch into the ground and then sold it to Bank of America at
$29 per share, when the big bank could have waited a day or two and bought it for $2 per share, but that’s management.
We are going to get at least a 100 percent move out of this incredible bank, and if you don’t own it than I don’t know anything else you should own.
Own Bank of America and forget about for a couple of months. You will probably make a killing, and then take the profit. Don’t buy the dream; just take the profit, while the institutions are buying it for twice what you paid for it.
Bought in several days ago at 6.33.
Bought in recently at 10.94.
I think 2 things are going on in contributing to the lower pps.
1) Convertible debt, thus dilution by a/the 504'(s) is still taking its toll.
2) Delay in funding is causing some impatient shareholders to sell.
It will pop bigtime from here when funding hits and when the scumbag 504(s) are done.
You mean dilution. Looks like the printing presses of shares have gained momentum. Ole Jeff's gonna get his money back on way or another lost in the cousin scam.
What does this company do again? Nothing? Oh----It prints and sells shares!!!! lololol
Double zeros coming soon.
Thank you Sir. For those that have been here a while, we know that that involves former Canadian's who had an involvement with the company and a promoter from IHub who we don't deny that it appears was a crook!........and who hasn't been taken by a promoting pump and dump crook in the pinks? SUGO isn't/wasn't immune, just like hundreds of other pinks.
As well, this is a Canadian matter and doesn't involve SUGO now, who is incorporated in the US.
A lot has changed.
And how will the litigation affect all of this?
The litigation regarding past alleged swindlers will not affect the current company or its current officers and directors other than a black eye for the company due to past unsavory characters.
Here are the current officers. None of them are on that list of alleged offenders.
http://sungrominerals.com/officers.php
Officer's Director
Frederick J. Pucillo – CEO
On December 2009 the Company entered into a Letter of Agreement with Mr. Frederick J. Pucillo, pursuant to which Mr. Pucillo agreed to serve as CEO and Board member. His appointment was approved and ratified by the Board. Mr. Pucillo's duties include overseeing the Company's ongoing financing for project funding and execution of its Business Plan.
In addition, he will be instrumental in the search for a permanent CEO with experience and knowledge of the "Carlin-type Trend" in Northern California and more specific, the Conglomerate Mesa Claims.
Mr. Pucillo has some 20+ years experience serving various mid-size to Fortune 100 companies in the Banking and Finance area, having managed a $110 million loan portfolio with 10,000 accounts, and other capital funding and business development opportunities. He is thoroughly familiar with general ledger, profit and loss, payroll, cash management, cash flow analysis and budgeting, as well as negotiation of promising opportunities. Mr. Vahlsing Jr., the companies CFO stated, " having Fred will help us properly fund our operations during the project development phase and with his accounting and finance background assist us during this very critical stage of cash management. We look forward to his stewardship and vision as we pursue this exciting period in our company's history"
Fredp@sungrominerals.com
Erwin Vahlsing, Jr. – CFO
On September 2009 the Company announced the appointment of Erwin Vahlsing, Jr. as Chief Financial Officer. Mr. Vahlsing is an executive with extensive operational experience; including both domestic and international background in leading and managing finance departments in the manufacturing, service, and construction industries for various public companies.
With over ten years SEC reporting experience both as CFO and as a consultant, Mr. Vahlsing has dealt with all aspects of compliance and reporting, as well as being the interface with external auditors, legal counsel, and shareholders. Mr. Vahlsing has negotiated capital raises, acquisitions, and conducted shareholder meetings. His experience covers the range of both public and privately held companies with revenue ranging from $1.5 million US to in excess of $80 million US. Mr. Vahlsing holds an MBA in finance from the University of Rhode Island and has a Bachelors degree in accounting from the University of Connecticut. Mr. Vahlsing is currently the Chief Financial Officer of ICOA Inc., U.S. based public company in the wireless industry.
Evahlsing@sungrominerals.com
Thomas J. Craft Jr. – Director
On February 2010 the Company announced the appointment Thomas J. Craft Jr. as Director. Mr. Craft specializes in federal securities law and mergers and acquisitions. He practices securities law in Florida. Mr. Craft has more than 15 years of experience in federal securities matters as well as the public markets generally. Mr. Craft has served on the board of directors of several public companies prior to joining Sungro Minerals. Mr. Craft has served as an officer and a director of Peregrine Industries, Inc., a public reporting company, since March 2004.
And here is the current company code of ethics:
http://sungrominerals.com/Code%20of%20Ethics.php
Code of Ethics
We have adopted a code of ethics that applies to our Chief Executive Officer, Chief Financial Officer, Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer, Controller and persons performing similar functions within the Company. A copy of the code of ethics is filed with the SEC as an exhibit to the Company's Form S-1 filed on February 22, 2008. If we make any substantive amendments to the Code of Ethics or grant any waiver, including any implicit waiver, from a provision of the Code of Ethics to our directors, officers and employees, we will disclose the nature of such amendment or waiver in a report on Form 8-K.
I hope the only thing he is pumping and dumping in the future is the trash and food scraps from the prison kitchen, as the dishwasher in prison stripes.
Looks like ole Monk is in possibly more trouble. Apparently a web of deceit and lies surrounding his dealings. The courts will decide.
Company confirmed convertible debt seller (504). Sucks yes, and we hope they are done or about done.
IMHO panic selling by people getting out of the market. It is across the board.
I eat my words on my re-entry price. Blindsided by the S & P downgrade. Looking for a good re-entry at this point.
I think I may have spoken too soon. Looks like our friendly convertible debtor is still cashing in the 504 chips. Just wish I knew how little they have left. On the other hand, it is making accumulation easy at very good prices. Risk:Reward is now very very good.
Pretty Please? With sugar on top? hahaha. Of course the crickets would "Double-Dog Dare-Em"! haha.
I don't want to speak too soon but it looks like our debt converting bid-wacker may be finished. 504's be damned! Now let the fun begin. Note---SUGO, please do not use them again. OK?
Nice well thought out post. Good logical thinking. Thanks. Member mark.
Bloodbath today. Sold at 13.88. Will re-enter 11.50-12.00 if possible.
He said triple zero seven (.0007) not .007. Possible shorty imho.
I think you better put your glasses on, or turn the chart right side up since you may be reading it upside down.