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Regarding PKGM - Wise decision to pass on any David Lovatt stock. This is his 6th PK stock after having abandoned all of his previous ones once they were no longer good for continued toxic dilution through pump and dump schemes.
See his track record: DNAD, CLDR, ENTS, IJJP, CLDZ. The first two have either DTC Deposit (DWAC) Chills, the next two have DTC Global Locks (complete suspension of all services except custody). I'm not sure about the DTC status of CLDZ but suspect it has at least a chill. Lovatt abandoned it when OTC Markets added a Caveat Emptor (skull and crossbones) warning.
CLDR became grey market when the company tried to circumvent the DTC Global Lock by doing a 1 for 1.08 forward split with a name and CUSIP change. MMs stock quoting the stock.
Your choice of quoted posts was good:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64613952
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75892270
Some brokers will buy a stock that has been at no-bid status for an extended time from the client in a "worthless stock transaction," often paying a penny for the lot at full or reduced commission. Call your broker to ask if this is an option.
http://www.kiplinger.com/article/investing/T052-C001-S001-how-to-sell-worthless-stock.html
Even if a company goes bankrupt, the IRS may not consider its stock to be worthless. However, if your broker buys your stock in such a transaction, the loss realized in the sale should qualify as deductible subject to the annual net loss limit of $3,000. If net losses are greater, the excess amount can be carried over to subsequent years.
http://www.irs.gov/publications/p17/ch14.html
Even though PVEC has had no published bid for several weeks, trades do still occur from unsolicited bids so a broker may not yet consider it dead, especially if the client has not made a continuous effort to sell it at market.
When these worthless stock transactions occur, they are shown at the lowest price available for reporting, $.0001/share. A lot of volume in worthless stocks toward the end of the year may actually be such transactions.
Given that Val Westergard and the officers and directors he appointed to the BOD in January 2013 all seem to have abandoned MediaG3, it's hard to believe there is even a bid at $.0001 for MDGC stock.
It now seems clear that Val Westergard's motives in appointing three MDGC shareholders who were supportive of him and the company were to allow him to distance himself from the company so he could pursue private ventures.
Nevertheless, CEO Byron Ryals, CFO Stephen Moynihan and Corporate Secretary Robert Guidry have a fiduciary duty to act in the best interest of MediaG3's common shareholders but seem to have abdicated their responsibilities along with Val.
Robert Guidry, as an attorney and partner in the New Orleans law firm of Kuchler Polk Schell Weiner & Richeson, should certainly have been aware that he was agreeing to act in a fiduciary capacity on behalf of common stockholders when he accepted his role as an officer and director of MediaG3.
If Byron Ryals, Steve Moynihan and/or Robert Guidry don't intend to fulfill the legal fiduciary duties of being an officer and director of this public company, he/they should resign in a public statement.
MDGC hareholders may wish to contact them:
Byron Ryals, CEO and Director:
(208) 344-4644
https://www.chamberofcommerce.com/boise-id/25370077-ryals-communication-engineering
Robert E. Guidry, Secretary and Director:
(504) 592-0691
http://www.linkedin.com/pub/robert-e-guidry/15/885/911
Stephen "Bud" Moynihan, CFO and Director:
http://www.linkedin.com/pub/bud-moynihan/5a/810/956?trk=pub-pbmap
The financial reports just issued by IJJP on OTC Markets as well as those issued in the past are bogus and should not be believed. Both the numbers and disclosures are filled with errors and contradictions. One year's numbers do not flow properly to the next and even numbers within a given year don't properly compute.
IJJP is a pump and dump dilution scam with the vast majority of the money raised through stock sales going directly to CEO Clifford Pope as disclosed in the two Form D's filed on EDGAR. The business plan constantly changes and there has been no significant business been since the bankruptcy of its operating subsidiary in 2006: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=4688027
People can make money on the stock if they buy on the right side of the pump but other will lose or become unintentional longs when the dumping occurs. It is very likely that the current pump was preceded by front running.
As is his usual MO over the years, Cliff Pope will allow the stock to rise before resuming toxic dilution
The stock is also subject to a DTC deposit chill (DWAC chill) due to unregistered, non-exempt stock having been dumped on the open market.
More information: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=107415254
IJJP has a DTC deposit (DWAC) chill which may be the reason your broker does not allow opening positions.
IMO, you're fortunate you weren't able to buy today. IJJP is and has always been a pump and dump dilution scam with no actual business transacted despite multiple business plans.
Reinstatement after a lengthy dormant period is IJJC CEO Clifford Pope's modus operandi. Dilution will resume and a Pope may do another reverse split as he did last time.
IJJP/Pope has dealt with some of the worst toxic diluting financiers including Big Apple Consulting (BAC), Fairhills Capital, Magna Group / Hanover Holdings, Bluelife, etc.
An example of his dilution: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77688595
Pope paid himself $100,000 for each of the two Form D Rule 504 financings he did with these entities.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6830744
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8169856
The processing of Company-Related Action Requests is entirely the domain of FINRA although FINRA may consult with the SEC if there is a potential public interest issue.
I would be surprised to see FINRA process the reverse split given the SEC suspension but the name change could eventually be allowed.
As an example, FINRA processed a name, symbol and CUSIP change for formerly-suspended grey market company Anywhere MD, Inc. (fka ANWM) which became Premiere Investment Properties, Inc. (PIPI) but the request was several months after the suspension. The processing of the action was delayed. Presumably FINRA checked with the SEC to see if a name change would cause a further issue of public interest. Despite the allowed name, symbol and CUSIP changes, PIPI remains on the grey market. The DTC put the same chill on the new CUSIP.
XUII apparently filed a Company-Related Action Request with FINRA for the name change and R/S, but FINRA has not yet processed it.
Per my previous post, under Rule 6490 FINRA has the regulatory authority and discretionary power to ask for more information before processing such requests by non exchange-listed companies and can refuse to process them at all if they believe not processing the request is in the public's interest.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=106945228
The filing of today's pre 14c proxy statement may have been at the request of FINRA as a missed step in the process.
Although delays in processing OTC company requests in order to obtain more information is not uncommon, complete refusals are not common, although there was recently a refusal to process a reverse split due to the involvement of Asher Enterprises.
It is not a certainty that the name change and R/S will be processed. FINRA could decide to process only the name change as that would have no substantial impact on the public.
I have never seen a company be suspended when in the process of a reverse split. It will be interesting to see what happens here.
FINRA has not yet processed the XUII request for a name change and a 10,000 to 1 reverse split of the stock.
Although it is not factually correct to say that FINRA must "approve" requests for such corporate actions, it has the regulatory authority and discretionary power under Rule 6490 to deny processing of certain company actions for non-exchange listed companies if it determines that the request is deficient and not processing is necessary to protect investors and the public interest. FINRA can also request more information before processing such requests.
Information on Company-Related Action Requests and Rule 6490:
http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p121988.pdf
http://www.finra.org/Industry/Compliance/MarketTransparency/UPC/FAQ/P117315
Today's XUII pre 14c (preliminary) Proxy Statement:
http://ih.advfn.com/p.php?pid=nmona&article=63940138
The only way for a formerly-suspended grey market stock to resume being quoted via OTC Pink Link is to regain Rule 15c2-11 qualification which requires a FINRA-approved Form 211. If a company is fully-reporting and current with its SEC filings, qualification with Rule 15c2-11 will allow its stock to resume being quoted via OTCQB.
http://www.finra.org/Industry/Compliance/MarketTransparency/OTCBB/Forms/
Rule 15c2-11 allows market makers to make a market in a stock and quote their own bid and ask prices. A company can't file a Form 211 with FINRA. A market maker must essentially sponsor a company by filing the form, which requires extensive financial and company information.
Form 211: http://www.otcbb.com/aboutotcbb/forms/form211.pdf
In the last several years only a couple of companies have regained Rule 15c2-11 qualification. EDVP is one example.
http://promotionstocksecrets.com/edvp-becomes-the-first-suspended-ticker-to-return-from-the-grey-sheets-in-over-3-years/
Yes. All stocks suspended by the SEC can only be traded on the grey market when the 10-day suspension ends. Because suspended companies lose their qualification under Rule 15c2-11, market makers are not allowed to make a market in the stock. There will be no published quotes and buy/sell trades must be matched.
The only way to get off of the grey market is for a market maker to sponsor the company by filing a Form 211 with FINRA, which FINRA must approve. In the last several years there have been only a couple of companies that have regained Rule 15c2-11 qualification after a suspension.
More information on the grey market for formerly suspended stocks:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=106849504
OTC Markets Warning: PVEC has no current information. Because the most recently submitted information is over 6 months old, OTC Markets has placed PVEC in the "OTC Pink No Information" market segment with a stop sign warning.
http://www.otcmarkets.com/stock/PVEC/quote
DNAD simply bought a domain. What's the business plan?
The PVEC annual report is due today (90 days following FYE of 6/30/14). Last year Peter filed a notice of late filing to extend the deadline 15 days but still didn't file it until 10/21/13.
http://www.otcmarkets.com/stock/PVEC/filings
OTC Markets' filing deadlines are the same as those for non-accelerated SEC filers.
EDGAR (SEC) filing deadlines for 2014:
http://www.secfile.com/our-resources/secdeadline/
Toxic financiers invest only when they believe the CEO will provide enough forward-looking hype to stimulate sufficient buying. The current XOM aviation fuel hype is an example. Jerry has had a stream of such hype during his tenure as CEO of XNRG.
When buying interest wanes, toxic financiers may pay for the stock to be promoted. Often it's the company that actually pays for promotion but usually through a third party.
It's significant that these CPNs are all very small. The financiers don't seem to be exhibiting a lot of confidence by lending the much greater amounts more typically seen in such deals.
The CPNs (convertible promissory notes) can be prepaid but only at a substantial penalty. As an example, the prepayment penalty is 35% for CPN #19:
TNKE issues press releases so Evotech Capital and Tanke insiders can dump stock as today's trading shows. It's a China-based pump and dump scam that didn't even trade until several months after Evotech Capital SA took majority ownership and spent over $100K promoting the stock through numerous newsletters in late April and early May (see chart at bottom). The number of unrestricted shares increased exponentially just before the promotions and were dumped on the open market.
Evotech = Basilio Chen, Martin Nielson, Nick Balomenos, etc.: http://www.evotechcapital.com/en/
Mila Saha's contact information:
milansaha.esq@gmail.com
646-926-6206
He uses a Davinci virtual office as an address:
40 Wall St 28th Floor
New York, NY 10005
http://www.otcmarkets.com/stock/PVEC/profile
http://www.davincivirtual.com/loc/us/new-york/new-york-city-virtual-offices/facility-677
Some certificates were delivered with a letter stating the following regarding subjective criteria used to exclude from eligibility people the company identified as having participated in activities that caused harm to the company, its shareholders or share price.
Thank you for responding. How long has CMR been providing services to XUN? Is CMR's IR/consulting contract and compensation noted in the XNRG 10-K?
Also, what is "character trait analysis?"
Jason: Are you and Kerry still providing XUN Energy "IR and other non-promotional related services" through CM Research, LLC? What do the IR and other services you provide to XUN entail? Was your contract noted in the 10-K?
Thank you in advance for responding.
The SEC has no authority to shut down a company. Even when a company's stock registration is revoked by the Commission (meaning it is no longer a public company), it can continue to exist and operate as a private entity.
KMAG deregistered its stock by filing Form 15 in 2008. Therefore, there is no registration to revoke. The SEC has already taken the harshest action it can take against the company with the 10-day trading suspension starting 9/17/12. The suspension resulted in the loss of KMAG's qualification for market maker quotation under SEC Rule 15c2-11 which means the stock can only be traded on the grey market until/unless a properly-filed Form 211 is approved by FINRA.
Given that Jeff Reid has continued to mislead KMAG shareholders subsequent to the suspension in press releases, on the company's website and via social media (Facebook and Twitter) as official communication, it's unlikely that FINRA would approve a Form 211 even if one were submitted.
FWIW, I do not believe that a market maker will ever submit a Form 211 to FINRA for KMAG. I also don't believe that the financial statements were audited or that a Form 10 was ever completed.
Certainly no Form 10 has been "submitted" to the SEC which requires all forms to be filed electronically via EDGAR:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=105091223
CPN #18 is convertible into 700 million shares at $.00005, the price used for the most recent note conversions.
$35,000 / .00005 = 700,000,000
It's insulting to shareholders that Jerry claims CPNs don't "become toxic" until the dates upon which converted shares can begin (e.g. CPN #s 19 and 20). Such promissory notes are toxic from the day they are inked even though the toxic effect of the dilution is delayed for 6 months under Rule 14 before they can be dumped on the public market.
There is no end in sight for continued toxic dilution as XNRG's business plans require millions of dollars to be raised before meaningful revenues could potentially begin.
There was extremely strong evidence of both fraud and insiders illegally selling on non-public information surrounding the 2/3/2000 press release announcing the application for a NASDAQ listing with a claim that they "believed" e.Digital met the qualifications.
Milan Saha is involved in reverse merger activities of a private company named MRBG3 with MNVN. If the RM goes through, Saha will be on the BOD. This doesn't mean he isn't still legal counsel for PVEC, but it's certainly not his only or probably his top priority.
From the MNVN 8-K (MRBG3 misspelled as MRGB3):
B/A spread of $.0046 x $.0035 indicates severe illiquidity. One can't sell for anywhere near the price to buy.
Trading in TNKE stock was inactive for years until a few months after Evotech Capital SA (Basilio Chen, Martin Nielson, Abraham Cinta, etc.) obtained 2/3 of the shares outstanding in mid 2013. In late 2013 and early 2014 they did some tiny trades to establish a ridiculous price then manipulating it up in Feb on very low volume. Tanke COO Nick Balomenos is an Evotech employee.
In March through May they pumped it like crazy with numerous paid promotions dumping their shares into the float. It's been a downward slide since then. See the chart. TNKE was/is nothing but a pump and dump. Those familiar with the history of Chen, Nielson and gang will steer clear of the stock.
A list of a few of the promotions: http://99wallstreet.com/new/discussion/topic/9579/hot/
Trades and spread on 9/17/14:
According to today's MNVN 8-K, Milan Saha is being appointed to the BOD and will serve as the escrow agent for the reverse merger:
My statements that Mila Saha is legal counsel for PVEC, that he issued an opinion letter supporting a financial report that contained at least one obvious/blatant lie and that the company claims he is overseeing the distribution of a $4 million Series C preferred share "gift distribution" is all factual.
It is my well-supported and evidenced opinion that PVEC is a scam.
Milan Saha is also legal counsel for the PVEC scam. He provided an attorney opinion letter (that didn't actually state an opinion) backing up the financial report for QE 3/31/14 which contained bogus financials as well as at lease one obvious/blatant lie:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=105273579
PVEC has undergone truly MASSIVE dilution in the last year but the names of the toxic financiers have never been disclosed. I wouldn't be surprised if Saha is affiliated with one or more of those entities. He's also said to be overseeing the distribution of an announced $4 million "gift distribution" in the form of Series C preferred shares that are redeemable in cash by shareholders on the record date back in April.
See the PVEC iBox for the astounding dilution.
The volume represents trades that have occurred. Are you perhaps asking about the fact that there is no bid quoted by market makers?
The lack of a quoted bid simply means that no market makers are offering to buy the stock with with their own bid (which they do when making a market in a stock). It does not mean that there are no unsolicited bids being filled, which is obviously happening with XNRG.
Companies received DTC chills or suspension because unregistered shares that were not exempt from registration were illegally sold to the public. Resolution of the SEC lawsuit against TJ Management will not reverse those restrictions.
Companies can appeal directly to the DTCC (parent of the DTC) for restrictions to be lifted but having willingly participated in what turned out to be illegal Rule 504 financings will not help their case.
XNRG CPNs being converted at $.00005 ($15,000/300,000,000). Easy double for the CPN (convertible promissory note) lenders who can dump into volume driven by Jerry's newest hype.
At these prices raising even small amounts of money results in massive dilution. Given the millions Jerry needs to raise to fund just the oil wells (not even considering another $8 million for the silly jet fuel arbitrage JV), a reverse split seems unavoidable.
IDCN can't be deregistered because the stock was never registered with the SEC. OTC companies with registered stock are required to file periodic reports with the SEC ("fully reporting). If they fall substantially behind they face suspension and revocation of the registration which deletes the ticker altogether and the company ceases to be public.
About 40-45% of the OTC stocks suspended by the SEC do not have registered stock. Most of those were originally registered but filed a Form 15 somewhere along the way to deregister and no longer be obligated to file with the SEC.
Sure does! Black cat appreciation page on Facebook:
https://www.facebook.com/pages/For-the-Love-of-Black-Cats-Black-Cat-Appreciation-Page/186841014709029
Weimaraner Pilatus (Pilly) enjoying sunroof: