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The problem is that they are a bunch of liars, originally disavowing ANY involvement in the paid promotion.
last one to leave, please turn off the lights.
Last weeks HUGE bounce after bad news - short covering?
http://www.investopedia.com/ask/answers/06/otcpinksheetshortselling.asp
In regards to pink sheet and over-the-counter (OTC) listed securities, short selling is allowed. An OTC security is one that is not traded on a formal exchange such as the New York Stock Exchange or the American Stock Exchange. OTC securities are often quoted on the OTC Bulletin Board (OTCBB). Pink sheet securities are very similar to OTC securities in that they are not listed on exchanges, but are quoted on a daily publication issued by the National Quotation Bureau. However, pink sheet securities carry much more risk because they do not require the companies to register with the SEC or stay current in their financial statements.
Although short selling is allowed on these securities, it is not without its problems. Short selling on OTC is extremely risky because these securities are often very thinly traded, which makes them very illiquid. This illiquidity can prove hazardous if an investor needs to cover an increasingly unprofitable short position. If the volume is very low, covering the position may become a very unlikely prospect. Another problem that has arisen with short selling in OTC securities is the use of pump and dump schemes. These schemes are done by con artists who use internet message boards and SPAM emails to heavily promote a thinly traded stock in which they have long positions. When this happens, the result is often a high spike in the price of the stock, followed by a fall. However, the initial spike will devastate any investor with a short position. These schemes often use OTC stocks because they are relatively unknown when compared to exchange traded stocks.
If they are a real company, youre in it for a long haul, no matter what. The prices you saw earlier, that most likely got you excited in the first place, was the product of a paid pump n dump. you wont see those prices again. theres so much stock floating around. and if in the unlikely event this company is for real, at revenue milestones, tens of millions of shares become unlocked.
This weeks carnage reeks of major holders dumping shares at their first opportunity.It was always at the open and at incredible volume.
they have a fluffer on facebook named bob. Bob adds value, thats for sure.
nice! Good trade! Emphasis on 'trade'
Same thing every morning, someone dumps a ton of shares. someone is unwinding their position. My guess, the paid pumpers, and this was their first opportunity to do so.
BS, they have no idea "to the best of their knowledge" about who hired the PR firm. Total BS, just like the company.
FYO made a sucker bet, and lost, and cant post on this board anymore. he also had to remove himself as asst mod. so sad.
i think FYO is grateful he cant post.
If he did, he would have to come up with a pretty creative explanation with why todays price action isnt a terrible sign of what any reasonably intelligent investor should be able to tell at a glance:
THIS IS NOT A REAL COMPANY. ITS PERCEIVED VALUE WAS CREATED OUT OF THIN AIR.
and suddenly, our posts stop disappearing as well. go figure.
and the stickies at the top of this board will be a testament to the intelligence of the average KNKT investor.
I win <eom>
1 hour to go. Prepare to say your goodbyes, asst. mod.
If i have to stop posting here, i wont miss it. freaking nazis erase half my posts. i'm sure this one is destined for deletion too.
Counterpath - not profitable:
http://finance.yahoo.com/q/ks?s=CPAH.OB+Key+Statistics
think about it... I'll be back...
POSC - an unfortunate symbol for a good company
someone on this board has already offered to pay 3x the actual cost, if they can actually buy one.
It't not a real company - its some dude who bought a shell of a company, already hyped the shares via paid PR pumpers, and made a nice chunk of change from unwitting "investors" who bought into the hype.
There are technical analysis terms bandied about, like DMI, RSI, etc., as if this were a real company, but its not a real company. It s the same pattern you see time and time again on pink sheet stocks; an accumulation phase, and a distribution phase, and now the ghost town it is destined to be until it gets de-listed.
The CEO of the company has been asked to address the UBER shady nature of the trading history, and to date he has not responded. That, in and of itself, should tell you everything you would want to know.
i feel bad for FYO - he might not get a single trading day in before the end of month. Crappy way to win a bet.
extended trading halt.
you betcher a$$ they would have issued a press release.
Thats a bet. You see a trade go off north of 1.75 and I am gone. Nothing above 1.75 and you resign as asst mod, and you walk from the board.
by the end of the month, the asst mod will have to walk away from this board. We made a bet. He thinks KNKT will see north of 2 bucks before the end of this month. I, of course, know otherwise from my experience.
loser can never post to this board again. Altho, I suppose he could continue to be an asst mod, now that i think about it.
Hmmm... hey FYO, want to double down on the bet? Ill bet you it never sees 1.75 before the end of the month. Loser cant post to the board OR be a mod of any kind. You a taker?
whats "rediculous" is that you think this company has customers. It has none. What's even sillier, is that you think the trading halt is just an exercise. This is a company trading on vapor, created via the hype of a PR campaign.
These PR firm guys should stand up and take a bow though - they have made you a true believer, and it seems nothing will convince you that your $$ is as good as gone.
hey man.. good luck. I think the odds are in my favor though - youre looking for a 48% gain from here between now and 15 trading days. Thats a tall order.
But hey, since im not invested in this, im actually rooting for you.
deal
Ill take that bet. Loser has to walk away and never post to the board again. you game?
2nd down leg completed. 1 more to go. imo.
next down leg just began. Usually these come in waves of 3.
Quick survey: If anyone else would rather ride this to zero than sell when RSI is at 20, please raise your hand.
As always, the price you paid per share should not be a consideration. It is where you think it goes from here that should dictate your actions, as well as your time frames, risk tolerance, etc.
Im going to go out on a limb and assume you are now under water. Make no mistake, the overall trend from here on is down. The pumpers are already on to their next flavor. With all the unrest in Libya, I'm guessing pumpers are recommending speculative oil plays.
With KNKT, maybe you can time it over the next couple days such that you might be able to squeeze a few more pennies, but imo its not worth it. Just get out, lick your wounds, and move on - preferably to a less speculative "investment".
"Item 3.02 Unregistered Sale of Equity Securities
On March 3, 2011, we issued 1,223,777 of our common shares (each, a "Share") at a price of $1.43 per Share for gross proceeds of $1,750,000, which the Company received in full. We issued 1,223,777 Shares to one subscriber that represented that it was not a US person (as that term is defined in Regulation S of the Securities Act of 1933, as amended) in an offshore transaction pursuant to Regulation S and/or Section 4(2) of the Securities Act of 1933, as amended."
apology to FyoCouch-
I just saw your PM. I cannot reply privately so Ill say here that i thought it was you arbitrarily removing my posts. Apparently, It is a violation of TOS to call out cheerleaders or naysayers.
While i strongly disagree with that kind of mandate, a rule is a rule.
I think you'll never see a higher pps than what you saw on 2/28. The sharp drop following that goes beyond anything technical. it was a massive dumping of shares.
The price action correlates to so many pink sheet stocks, I simply cannot fathom how a reasonable person, faced with the facts of KNKT's lack of any product or capital, the recent article of shady trading activity, the hiring of firms who specialize in promoting thse shell companies with no true propsects... you do realize these PR companies get paid in stock right? You DO realize that they sell the stock the first chance they can, right? You dont REALLY think that these PR firms are holding out for a 5,192% return, right?
Right?
head and shoulders pattern forming on daily chart.
pop Quiz: Is it a bullish or bearish head and shoulders pattern?
clearly i have an agenda. I want them all to sell. that way, the combined selling power will overwhelm and cause the price to drop precipitously, and allow me to get in at a better price.
Mwahahahahaha <--- evil laugh
</sarcasm>