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Continue to weather the storm......sounds pretty good. Anybody going to the stock-holder meeting?
This stock seems like it is being pushed down to the bottom. Contrariety is one thing. Evil spirits are another. Buying more is not going to offset the efforts to crash JCP.
At some point, corporate has to develop a plan to help pro-JCP investors recoup and punish the evil-doers.
I thought it was 0.01? Don't you really mean stuck on 0.57?
So you notice something is screwy here?
I read that BDCO is operating relative to finding a new crude supplier. The way you cast this, it's unimaginable.
The point is BDCO seems to be well-run. To my eyes, Carroll has been a stand-up guy. I would have liked to travel to the stock-holder's meeting to learn more about his character, but couldn't make it.
I see a inland refinery that apparently weathered some pretty foul weather.
There was a rough spot and I think this drew a knee-jerk reaction. I invested after determining that despite the check box against BDCO, the company is running seemingly on practicality and this gives the sense that come hell or high water, they'll do their best to keep on keeping on.
There are positives. There was a plant expansion to speak of. I see growth on the horizon.
When I see these really erratic sell offs, I always get a sense big money is cashing in some gains to fuel the next political cycle.
Just a speculation.
Hey Lisq,
FWIW, I forgot to mention Morninstar gives BDCO a three-star rating and places a value of $1.69 per share "fair" value on it.
http://www.otcmarkets.com/common/showMorningstarReport?symbol=BDCO&isIq=false
You might want to search for the more recent analytical research reports. Then take a look at BDCO's book value.
Absolutely absurd. Bombastically dropping the price (-33%) just to sell a few hundred shares?
Nothing wrong with BDCO. It's the erratic brokers.
What reform laws that prohibit reverse splits?
It climbed above 1¢ a few days ago. Never thought that would happen!
Got hit with a $20 fee by Scottrade during this reverse split.
Yeah, but the question is why does Yahoo Finance historical prices list it as a 1:44 reverse split.
I was culling through the historical prices for YRCW on Yahoo Finance and came to a perplexing point where a reverse split of 1:44 took place December 2, 2011.
YRCW price history at Yahoo Finance
According to the archives here, posts dating around this time indicate a 1:300 reverse split took place.
Naturally, I am confused and was hoping someone here might be able to shed some light on this. If there's a math error in the YRCW historical price database, it's not simple or apparent to me.
POTG continues to trade at interesting volumes. They are also still filing reports on a regular basis. These reports contain lots of information quite honest and frank.
It seems to me that the model for stock sales by companies is to stick it to the little guy. These bombastic reverse splits do just that.
As I recall, the Paul guy in Peru, holding a vast number of shares, returned a whole lot of them to the company and they were canceled. This is the opposite of the reverse split trend where the little guy with 1000 shares sees them reduced to 10 share and then sees the price per share hit rock bottom in a short period of time, grinding his investment dollar to pieces of pennies.
Add to this, the unusual history where early investors were treated to a forward split of 12:1, multiplying what they already had.
Many of us had our confidence shattered when POTG was traded into the ground in a fairly rapid price fall out. We tiny little sheep saw thousands of dollars hit with a shrink ray.
Anybody can check reputable quotes that include institutional holders and see that we little sheep investors have interesting company.
Meet the new POTG, Same as the old POTG
There's gold in them thar hills!
http://www.hotstocked.com/companies/p/pacific-gold-corp-PCFG-63208.html
The main objective is to explore, identify, and develop commercially viable mineralizations on prospects over which the company has rights that could produce revenues.
"Mineralizations" is a ten dollar word for ' "we ain't gettin' in the hole and diggin' '.
POTG paid $1295.00 for
it
-------------
Where does the promo state this?
To sell anything you have to have the right product, at the right place, at the right price, for the right client, in the right quantity.
Forwards splits are marketing ploys for companies attempting to drum up more stock sales. Forward splits lower prices without initially negatively affecting share-holder values.
If you have not much more than a few hundred dollars to buy stock with do you go for one share of Chipotle Mexican Grill, Inc. @ $317+ per share or with something cheaper so you get the most for your money?
Companies do keep a keen eye on their stock sales. If sales slow down a forward split is an option provided the price per share is too high for potential investors.
In essence, the stock market is a beauty pageant. The more attractive the stock appears to the eyes of investors the more likely the company behind the stock will see people by their pieces of paper.
It's a little hard to believe it, but apparently somebody at Portage Resources, Inc. believes they have a boat-load of golden-ripe bananas.
For demonstrative purposes, if Portage Resources, Inc. have their way the total number of POTG shares will be 4,452,000,000. The US population is somewhere around 311,986,477 (changing rapidly each second).
Do the math and potentially that's 14.27 POTG shares for every single man, woman, and child in the United States.
If POTG was in the business of producing boxes of toothpicks that'd be just great. I don't suggest you can pick your teeth with shares of POTG in the future, use floss for that.
Not saying this is the reason for the communications break-down...
The FINRA is crazy if they let this stock split. Diamonds are valuable due to their rarity. DeBeer's controls the price relating to their ability to not flood the world market with dump trucks full of diamonds.
POTG found resistance at a buck and change, but that's no basis to suggest it was a successful test market for mass production.
Obviously, Belfiore, if he even exists, is now a multi-millionaire. Do we need to wait for his SEC insider filing? The chance he's going to get in a hole and dig is about zero percent. He is an engineer.
The transfer of company from Canada to South America could mean a number of things.
One thing not mentioned anywhere is the possibility that a transition from Canada to Peru might mean POTG is attempting to put the cookies where the kiddies can get them.
If POTG is really interested in anything other than producing mass quantities of stock the company should already figure they have labor leverage. Employee stock ownership plans exist. POTG could preserve the value of their stock and give shares to loyal employees. (those that dig and timely file paperwork with appropriate authorities)
The absent-minded press release writer strikes again?
"Portage Resources Inc. President and CEO <insert name here> stated, "We are continuing on our mission statement of responsible growth, the dividend split is part of this growth. We are continuing to assess potential properties, growing our current stable of properties, and are very proud of our efforts thus far."
"The Portage explorations team headed by Elias Garate has been working and visiting the WUKAKUY PROPERTIEs, CORDILLERA NEGRA 1 & 2 concessions, and the most <Now what was the name of that darn recent acquistion?> recent acquisition."
Portage Resources Inc. is focused on the exploration and production of precious and base metals in Peru. <See, if I just use the word focus here...> Portage Resources Inc. plans to recognize, and acquire near-term production mining properties, the Portage Resources Inc. seasoned and experienced Peruvian management team will research, review and prove any reserves for the purpose of production. <By golly, yes, indeed, the team is going to take a look at who knows what, but we're not specifically suggesting that we are doing any gold mining on "near-term" gold mines and there's nothing here to suggest we actually intend to bring gold from the earth. Just look at it.>
Or maybe president of the globe? <spooky>
Wasn't POTG a Canadian company that was dished off to South America.
Maybe somebody down there might be able to shed some light on things locally in Lima?
It makes a lot of sense unless somebody doesn't want people to nosing around down under.
This is ridiculous. Complete chaos. This has all the appearances of an organized attack by computer hackers yet this is professional businesses jerking the American people, in fact, the whole world around.
This morning Scottrade has changed the price per share of POTG without notice. Yet, personal accumulations of POTG remain unchanged. This morning the rousing public is led to believe their account values are wiped out.
There STILL has been no generalized message from Scottrade about a split of POTG shares to speak of. There is no explanation at all. And they still have the unrelated news item for a totally unrelated company Grande Portage providing false and misleading information to potential POTG investors:
All historical prices, charts, etc. this morning exhibited false prices. According to Scottrade's Scottrader sharing-trading interface yesterday POTG closed at 0.025 per share.
POTG holders, public investors, have no idea what the actual price of POTG is. They are being led to believe the stock has no value and who knows how many are bailing out with severe losses due to an orchestrated effort to induce them into believing the stock is valueless?
At no time has POTG suspended trading while other stocks have temporarily had trading halted. Recent Greek shipping companies come to mind.
Even Google Finance has fouled up historical prices.
Take a look at these babies and it's a wonder if the guy or girl at the trade desk has bionic finger(s):
Jun 29, 2011 0.10 0.12 0.08 0.08 504,981,510
Jul 12, 2011 0.11 0.11 0.07 0.08 360,991,570
Aug 8, 2011 0.02 0.03 0.02 0.03 359,959,910
How ironic is it on SEC filings the CEO of POTG lists this address:
Paul Luna
CALLE VUEN RETIRO 155, DPTO 404
CHACARILLA DEL ESTANQUE, SAN BORJA
Translated into English?
Paul Moon STREET GOOD RETIREMENT 155, DPTO 404 CHACARILLA OF THE POOL, SAN BORJA
That address is just two city blocks away from the US Embassy in Lima. How hard would it be for them to pay a courtesy call or at least visually verify the very existence of Mr. Moon as he moves about?
The other Lima address listed in filings appears to be a statue in the middle of a busy traffic circle?
And please don't make this personal by flapping off the industry standard due diligence line.
Scottrade.com has nothing on a forward split of POTG this week. Repeat: N-O-T-H-I-N-G. Chances are pretty high that on-line brokers are telling you there's a split, but all they are doing is reading the on-line PR release and leaving it at that.
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South America has been metal mining for four or eight centuries. In the sixteenth century the Spanish Armada used to send vessels laden with mercury, cask after cask, to south and central America for use in the "patio process" of gold extraction.
Mining metals in South America ain't exactly rocket science. They already know what a hole in the hill is worth.
POTG announced they were closing a deal on Peruvian mining concession(s). A concession deal to mine in Peru is like inking a deal with the ballpark to sell weenies, is it not?
A deal-signing announcement from POTG would without a doubt send their company value up and the market price of their shares would soar.
Fair to say that most POTG investors anticipated the deal close on the concessions to be a dramatic price increase of POTG shares. It is also fair to say POTG sealing of the mining deal concessions was the next big corporate event to look forward to, or so we thought.
That's what makes this forward split impossible to figure out. POTG investors are naturally concerned by the potential that POTG is a resurrected "shell" company, and the exchange of old shares to new has been perceived as a wicked twist of fate similar to what happens when somebody gobbles up the old shares then controls a new company.
For those who hold knowledge about the "shell company" angle there really is no reason for POTG to fuel negative speculation by forcing holders to surrender their shares for whatever is behind door number three.
The timing and hastiness of the forward split announcement did not make any sense at all especially since the PR department of POTG had already whetted the appetite of new investor interest with the next big corporate event, the mining concession signings.
POTG is not helping matters by suggesting that a forward split is the same thing as a dividend. Such split can easily be preceived as another step toward getting POTG off the radar screen.