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Check out the morning line guys, look at that bid ask.
Short Squeeze ????????
We break .85 next resistance is .95 then 1.07 and there not that strong
See YAAAAAAAA!!!!!
Next resistance .85
Theres not, Theres resistance at around .88 but its weak. After that its on to a buck
This is the toughest leg to a dollar right here. If we can push pass this resistance we should get a new wave of investors looking for this to hit the buck.
Heavy volume to push us past .75 resistance is the key here
Not bad guys, not bad at all. Short covering seems to be the push here. I just logged on so sorry if i'm a little behind, nice to wake up to this though.
This afternoon should be sweet!!!!
LOL, I guess that puts an end to that thread
Put in your sell orders for $5.00 and add to the squeeze!!!!
This is from the Yahoo board
I believe the short squeeze may have been the main phenomenon today. If it wasn't then tomorrow will be brutal. Here's the short interest report for past few months:
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
3/31/2010 6,211,635 1,554,659 3.995497
3/15/2010 3,637,898 2,024,227 1.797179
2/26/2010 1,400,381 599,246 2.336905
2/12/2010 1,075,516 196,162 5.482795
1/29/2010 938,292 346,257 2.709814
1/15/2010 861,411 392,809 2.192951
12/31/2009 774,891 590,779 1.311643
12/15/2009 778,568 1,592,858 1.000000
11/30/2009 729,378 832,289 1.000000
11/13/2009 771,611 457,408 1.686921
10/30/2009 669,296 121,817 5.494274
10/15/2009 557,072 136,630 4.077230
9/30/2009 525,994 280,265 1.876774
9/15/2009 542,175 129,278 4.193869
The above tells us that 2.6 million more shares were shorted between 3-16-10 and 3-31-10.....there are also good odds that more was shorted after 3-31......at least 6,211,000 shares short which is over 20% of the float. Secondly, if you look at historical pricing for RMIX, the low and high for RMIX for this last 2 week period was only 35-45 cents a share with the exception of one day where it hit 49 cents on over 5 million shares......on that day we had buyers not shorters. So, in essence at least 2.6 million shares were shorted at an average price of 40 cents. Based on today's close, they have already lost over 50% and will be getting margin calls in the morning. If this rally is purely technical short covering we will know tomorrow. However, I suspect an equity for bond debt is close to approval with no bankruptcy which will leave 5-10% of company in current equity holders hands. I think we will also see another short squeeze when that is announced. It will be like the GM squeeze when everyone short had to buy shares to close out their positions when GM went bankrupt and there were no shares to buy. GM went up several dollars when the stock was actually worthless. The squeeze will happen tomorrow.....or soon. DaninFW
Rumours of a buyout just hit the boards
Looks that way, we should be hearing something shortly
Wow!!!!
Its fighting to hold off the pressure. We're in great shape here
Same here Tim, Got in at .35 and riding the whole way. Nothing wrong with taking a little profit sometimes but i'm gonna let this one ride.
Nice move, now all you gotta do is sit back and relax!!!
Gravy!!!
Its not stopping either. YEEEEEHAAAAAW!!!!
Great day indeed my friend.
Materially false and misleading statement.
SPONGETECH CLEARED OF ALL WRONG DOING!!!!! COMPANY HAS BEEN VINDICATED!!!! GET IN TODAY WHILE PRICES ARE LOW!!!!!
GO SPONGE!!!!!!
We got support at 40. Great sign-next stop .50
I agree, if you look at the results from the past couple releases we seem to be trending toward that direction.
I've been saying for a while now that things are falling into place nicely for the game plan these guys have implemented. I believe we are still heading in a strong positive direction.
Rocky
Awful quiet lately Poster. What do you think theyre up to? We should be getting something soon good or bad I suppose. Thats the only problem trading at these levels, things get hush hush with no accountability. I like the big inside buy at .014 we need to see more of that.
Your thoughts
Is there an RS or an RM today that I don't know about?
Theres some wacky stuff going on here eom
I hope so, but Nite is never gone. Theyre always lurking in the shadows somewhere waiting to pull the trigger.
Like a blackhead that keeps coming back.
That effectiveness order could be anything. Its just SEC red tape that companies have to file to make something effective. I was just curious to see if anybody knew why we werent trading.
Poster Whats going on? eom
I think thats from the PRs Dog
Overselling here was inevitable, sellers followed each other off the cliff. Not saying we are out of the woods but whats happening here is so typical. We're going to see a significant jump in the PPS as long as the longs and the insiders are lowering thier averages. Once the averages level off we may sit again between 2 and 3 unless the boys can convince people that we are not going to see those bottoms again.
I'm all in Johnny,
I can't go any further without going against my better judgement. still a risk here so i'm comfortable right where I am.
Rocky
Lol, nice comeback, I needed the laugh. I wouldn't sweat it to much. We should see a good bounce just off of people lowering their averages, I know I am. We won't be down at these levels to long. I think IAO is getting more exposure than it has in a long time and all investors have to do now is proper DD and they will see that we are at a good PPS to start accumulating.
We'll close green on Monday.
Rocky
Now heres another one concerning the line of credit we are hopefully receiving from Ascendiant. Unless I'm reading this wrong being delisted is completely out of the question. This is just 2 paragraphs of stipulations the company must meet in order to secure the line of credit.
This is very important reading right here!!!
Conditions to Ascendiant’s Obligation to Purchase Shares - Trading in IA Global’s common stock must NOT be suspended by the SEC or the NYSE AMEX (or other applicable trading market); IA Global must not have experienced a material adverse effect; all liquidated damages and other amounts owing to Ascendiant must be paid in full; the Registration Statement must be effective with respect to Ascendiant’s resale of all shares purchased under the equity drawdown facility; there must be a sufficient number of authorized but unissued shares of IA Global common stock; and the issuance must not cause Ascendiant to own more than 9.99% of the then outstanding shares of IA Global common stock, or more than 19.9% of the number of shares of common stock outstanding on September 29, 2009 to have been issued under the equity drawdown facility (without shareholder approval).
•
Termination - The Securities Purchase Agreement will terminate if IA Global’s common stock is not listed on one of several specified trading markets (which include the NYSE AMEX, OTC Bulletin Board and Pink Sheets, among others); if IA Global files for protection from its creditors; or if the Registration Statement is not declared effective by the SEC by June 29, 2010. IA Global may terminate the Securities Purchase Agreement if Ascendiant fails to fund a draw down within 10 trading days after the end of the applicable settlement period, or if the SEC provides comments on the Registration Statement requiring certain changes in the transaction structure and/or documents.
Poster, correct me if I'm wrong but this is huge.
STOCK PURCHASE AGREEMENT WITH MGVJ CO LTD
On January 26, 2010, the Company received a $480,000 funding commitment under a Stock Purchase Agreement (“Agreement”) with MGVJ Co. Ltd. (“New Investor”), a new shareholder of the Company. Under the terms of the Agreement, the Company agreed to issue and sell to the New Investor 9,600,000 shares of the Company’ s common stock for an aggregate purchase price of $480,000, or $0.05 per share, with payments as follows:
(i) 2,400,000 shares at a purchase price of US$.05 per share, or an aggregate price of US$120,000, on or before March 31, 2010.
(ii) 2,400,000 shares at a purchase price of US$.05 per share, or an aggregate price of US$120,000, on or before April 30, 2010.
26
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(iii) 2,400,000 shares at a purchase price of US$.05 per share, or an aggregate price of US$120,000, on or before May 31, 2010.
(iv) 2,400,000 shares at a purchase price of US$.05 per share, or an aggregate price of US$120,000, on or before June 30, 2010.
The New Investor’s obligation to purchase the foregoing shares by the dates specified is conditioned upon the representations and warranties of the Company contained in the Agreement being accurate as of such dates.
The Company issued and sold the shares of common stock to the New Investor in reliance on the exemption provided under Section 4(2) of the Securities Act and Regulation D promulgated by the SEC thereunder.
The Agreement contains certain representations and warranties of the New Investor and the Company, including customary investment-related representations provided by the New Investor, as well as acknowledgements by the New Investor that it has reviewed certain disclosures of the Company (including the periodic reports that the Company has filed with the SEC) and that the Company’s issuance of the shares has not been registered with the SEC or qualified under any state securities laws. The Company provided customary representations regarding, among other things, its organization, capital structure, subsidiaries, disclosure reports, absence of certain legal or governmental proceedings, financial statements, tax matters, insurance matters, real property and other assets, and compliance with applicable laws and regulations.
Under the terms of its January 26, 2010 Stock Purchase Agreements with the New Investor, as of February 16, 2010, the Company has agreed to issue and sell to the Investor, 800,000 shares at a purchase price of $.05 per share, or an aggregate price of $40,000.
I took about an hour last night and sat down and read a good portion of it. There was a couple of things I wanted to discuss with you that I read. Everyone hang tight I'll be back to post a couple of things we can discuss.
I think we might of seen our bottom here guys. It looks like we are still on track with our long term goals. The pps combined with the lateset filing is going to look very inviting to some heavy hitters that are about to come on board.
We shall see.
Ok, we get it.