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More insider buying today...
http://www.conferencecalltranscripts.org/4/summary2/?id=2291358
wow CJ you've got some big balls! That's some serious cheese you are laying down. What makes you so sure about GIGM? The CEO hasn't delivered on any single promise since he's been CEO...what really concerns me is they stopped the pubic CC w/ Q&A. Revenues are not growing as they continue to burn through cash. Tesseratic is a real stretch and gigacloud isn't exactly making waves. Their mobile games division is the only thing keeping this afloat as far as I can tell.
I like the CEO buying shares and I like that they are cleaning house with board members, but IDK if that's enough.
Unfortunately, I think there's a 90% chance of reverse split...can't imagine that will be good for shareholders unless Giga can right this ship. As far as I can tell it's going down like the titanic.
I did take this opportunity to double down, but it may just be wishful thinking. Good luck buddy...
-resident
Here's the lowest PPS recorded for GIGM:
Nov 21, 2002 0.61 0.68 0.56 0.56 320,900 0.56
Nov 20, 2002 0.76 0.76 0.57 0.57 416,100 0.57
Nov 19, 2002 0.89 0.92 0.69 0.72 484,000 0.72
Nov 18, 2002 0.80 0.92 0.75 0.84 783,000 0.84
Nov 15, 2002 0.63 0.87 0.62 0.80 706,500 0.80
Nov 14, 2002 0.51 0.59 0.51 0.59 41,700 0.59
Nov 13, 2002 0.58 0.64 0.50 0.51 63,500 0.51
Nov 12, 2002 0.51 0.56 0.48 0.56 41,600 0.56
Nov 11, 2002 0.52 0.59 0.20 0.51 100,200 0.51
Nov 8, 2002 0.59 0.60 0.49 0.60 22,000 0.60
Nov 7, 2002 0.63 0.67 0.49 0.61 36,000 0.61
Nov 6, 2002 0.45 0.67 0.43 0.62 415,200 0.62
Nov 5, 2002 0.43 0.45 0.43 0.45 155,200 0.45
Nov 4, 2002 0.44 0.44 0.42 0.42 198,000 0.42
Nov 1, 2002 0.44 0.45 0.43 0.43 83,800 0.43
As far as I can tell, we are trading at or near the all time lowest close of 42 cents. It's interesting that the stock held at $1 for quite a while with very little positive news. I think the recent turmoil in the shanghai markets has greatly impacted GIGM pps...however, the GIGM acquisition of StrawberryNET is going to catch on...when it does the pps should move up in a big way. I'm adding to my position at these levels, and will continue to add if we drop further.
Alexa rating for Strawberrynet.com
www.alexa.com/siteinfo/strawberrynet.com
It's interesting that the highest percentage of visitors are in China, and yet that's their lowest market penetration. If Gigamedia can tap into the market in China, then I think they'll bring home the bacon.
On a side note, the Shainghai markets have already corrected 30-40%...hopefully not much downside left. I think that (market sentiment) is the only reason GIGM is so cheap right now.
Regarding the possibility of reverse split to meet Nasdaq requirements...I kind of doubt Giga will do this because it would put the CEOs shares at risk of being devalued if the stock dropped after the RS. Let's see what they can do in the next 6 months.
More info on the CEO/website:
I pulled this info from whois.com. It looks like somebody re-registered the domain name. In general, it usually costs approx $30 for 3yrs to lock in a domain name. So basically, it looks like the CEO locked in the domain name for another year. I'm guessing she just wanted to make sure that nobody bought the rights to the domain. FWIW, I agree 100% about the reverse split. That's the only option they have at this point. And that will render any remaining longs' shares practically worthless.
Domain Name: CANNON-EXPLORATION.COM
Registrant:
Above.com Domain Privacy
8 East concourse
Beaumaris
VIC
3193
AU
hostmaster@above.com
Tel. +61.395897946
Fax.
Creation date: 2011-06-10
Expiration Date: 2012-06-10
Domain servers in listed order:
ns3.above.com
ns4.above.com
Administrative Contact:
Above.com Domain Privacy
8 East concourse
Beaumaris
VIC
3193
AU
hostmaster@above.com
Tel. +61.395897946
Fax.
Technical Contact:
Above.com Domain Privacy
8 East concourse
Beaumaris
VIC
3193
AU
hostmaster@above.com
Tel. +61.395897946
Fax.
Billing Contact:
Above.com Domain Privacy
8 East concourse
Beaumaris
VIC
3193
AU
hostmaster@above.com
Tel. +61.395897946
Fax.
Hey guys, anybody heard from smitter lately?
He seems to have gone MIA. I'm still in it for the long haul, holding my 500k shares.
WE ARE NOW TRADING ABOVE THE 50DMA!
A close above the 50dma will mean a HUGE up day tomorrow as we try to take out the 200dma!
MACD looking ready to explode!
RSI @ 55!
Stochastics just getting warmed up! See the chart below!
http://stockcharts.com/h-sc/ui?s=CNEX&p=D&b=5&g=0&id=p66135792815
Looks like volume is the real thing
Two back to back days of GREEN VOLUME. It doesn't get much better than that. When the overall market starts to turnaround, you'll see this thing fly above .01 in a hurry.
Lingering around.
Ironically somebody snatched up all your shares that you dumped at .0014. I don't understand why you sold given the fact that this stock has been above a penny three times in the last year.
My guess is you absolutely needed the money. Can't imagine any other reason to sell at this PPS. In any event, good luck to you. I'm here for the long haul.
I completely agree with you
And that is my take from the PR. They wouldn't be investigating further unless there was a DAMN GOOD reason to. And apparently there is.
My interpretation is this...
They haven't yet posted the findings ANYWHERE. This is merely a PR. I am guessing they will eventually release a PDF document that completely and wholly summarizes the findings. Most on here would have to agree with me. It is true that this is NOT exactly what we were looking for.
Remember, they did say that they would post the FINDINGS (not just a PR) on the Cannon site.
Seriously, read the PR.
It doesn't reveal much, but what did you expect without core samples? They are clearly intrigued by the current results, otherwise they wouldn't continue with the investigation.
"This area with its hosting lithology is more proximal to the interpreted shear zone and may provide better results with more work and sampling. Further exploration and mapping is recommended.
Cannon will continue with the exploration of the Queen Alexandra. Additional line cutting followed by an IP survey and a larger sampling program in and around the prospective gold showings is planned for sometime in late August. "
Also like to note that this is the first time that I've read in a PR about the possibility of GOLD from Cannon. THAT is intriguing.
Too much negativity here right now
Everyone needs to chillout, this stock will return to a healthy PPS in due course.
By the way, it is my observation that some of you post way too much, and I honestly think it just stirs up the pot too much. How many times can you discuss the same issues? Leave it be, and get on with your lives. There's more to life than this message board.
Good luck to everyone on here.
WOW look at that volume...and spread!
Amazing .0018 ask!
I cannot even use enough exclamation points!
I'm more of a chartist, and I've been waiting for the big red candle stick to provide CNEX with a stable bottom. According to the charts, we might drop below .001 tomorrow (briefly) and that should mark the bottom. I'll be buying at .0009 ;)
ahh finally CAPITULATION has arrived!
I've been waiting for this for a LONG time...
Glad to see NITE finally off the bid/ask
Should be blue skies for the next week or two ladies and gents. Have a great day!
ETMM is the MM on the bid/ask!
So long NITE!
Sure looks like the float is locked up!
Moving higher with ease on moderate volume boys! A close above .0024 is confirmation of a breakout.
There's a little hyperlink underneath the chart that says "linkable version." When you click it it changes the URL string to that can be pasted and viewed.
Technicals (just for kicks)
http://stockcharts.com/h-sc/ui?s=CNEX&p=D&b=5&g=0&id=p11901423076
Take a look at the BB width...lower and tighter than it has been all year! We are on the brink of another explosion into penny land.
I think people are starting to realize
that the value of precious metals will only continue to rise (so long as the dollar and Euro are worthless). I don't think that's going to change much in the next 5 years either.
So let me get this straight...
Your response is essentially:
I don't care [if the grab samples from 1990 are not relevant]
Guess you missed this line:
"Geology: The pits are opened up in biotite granodiorite of the Carleton Lake stock (Blackburn 1976). Lack of outcrop in the vicinity of the occurrence, and poor exposure of bedrock in the pits, hampered investigation. Rocks in the shear zone are not altered."
In other words, the geo results that they found for the Queen indicate very little about the actual gold content in the rock. This might even be part of the reason why Cannon is choosing to explore the Queen more thoroughly using UP TO DATE geo technology.
Very nice little EOD push
To bounce off the support around .0021. We should be trading in the .003s when the news hits the wire. Absolutely no reason to not be trading higher from here.
All I have to say is...
GET READY FOR THE .003s, they are coming sooner than you may have anticipated. Low floaters will have that affect on you...
I believe what they mean by amateur hour is...
many on this board have no clue how to play the technicals on this stock. We already bounced off the LOW. It is very unlikely that we will bounce off it again in the short term, regardless of the percent off the low. Just look at the support we are getting here.
I saw a few 1 mil k orders just go through to match all the sells. People are waiting on bid until the orders are stacked and they have to hit the ask. It's just the way of the beast. Say what you will, as others have said, I seriously doubt we drift back into the deep .001s.
If by some small chance we do, I got the ammo to load the boat ;)
Yes, we are definitely filling the gap here ladies
And believe you me, you'd rather we fill the gap now than a week from now.
Large orders and large spread
Recipe for some serious upward MOMO
Here I come SLAPPIN THAT ASK!
Another 35k for kicks!
This run is showing some conviction
If we break the 50dma then the next resistance is the james bond level at .007 (200dma)
http://stockcharts.com/h-sc/ui?s=CNEX&p=D&b=5&g=0&id=p50907977380
BTW, silver grow some hair on your...
kahunas, and stop posting "OH MY GOD WHERE IS THE PR DFLKJ#)$@*$"
Seriously, it's overbearing. Go take a chill pill.
Looks like Gold is getting ready for another run...
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&b=5&g=0&id=p46289137204
It seems to have reset from the previous lows and isn't going much lower.
Hang in there guys
We are more or less at the bottom now, plus or minus some change.
I might get some ammo to double down next week. Don't know if I'll get the chance, because I know that PR is coming.
Keep the faith, GLTA longs!
Volume and price action do not suggest dilution. But I guess we'll find out soon.
I'm right there with you guys.
Let's be patient, and double down when necessary :)
Good luck guys, I'll be checking in periodically.
Also keep in mind...
the PINKS and OTC stocks often lag behind general market movement. We had a big selloff the past few days, now it is hitting the pennies hard. Things will change, as they always do. I remember what the initial selloff looked like back when the market tanked. Penny stocks were a wasteland at the time...then they took off.
there is NO dilution going on IMHO
Volume definitely suggests panic selling given the overall market conditions. If you can't see that, you are an amateur trader and have been served by the best. I'll be averaging down at these fire sale prices.
Gold on the UPTICK...
GO CNEX!