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Has anyone noticed his "primary place of business" is a UPS store?
http://tinyurl.com/qjbpeg7
Class Action!?
I don't get how he can blatantly lie about things for the last 4-5 years and not get called out by the SEC.
I'm one of the pre-split investors who is quite a bit jaded (obviously). I was a huge cheerleader for a good amount of time and "invested" in this company for the long haul. I could have sold several times but that's not how you support a company that's trying to get off the ground.
My shares might be nearly worthless, but my argument is how can he claim the things he claims and not a single one actually come to fruition. I generally don't even do Pinkies for this very reason. I guess I just feel like a complete chump for believing in a fellow Floridian.
When to short...
WHEN! I was going to at .16 but how funny would it be if I get screwed that way and it runs all the way up to $3 and I would have broke even on my original position.
"Worthless Security Rule"
FYI for anyone else in a similar position (mine is $2.50 breakeven). On my tax filing for 2012 I wrote off my entire OTOW position under the "Worthless Security" rule. Now I don't stress when I see sub penny because it only further makes my decision valid. If for some reason things change (yeah right) I will either amend or fix it in a following year. I am by no means a tax pro so grain of salt this if you wish. I did do quite a bit of research and called the IRS directly.
This is an excerpt from the following link:
"The loss deduction for worthless securities must be claimed in the tax year in which the securities are deemed to have become completely worthless. The taxpayer is responsible for making this determination. Worthlessness is often presumed to result from an identifiable event, such as bankruptcy, liquidation, or termination of business activities. However, such an event is not necessarily required for making a claim of worthlessness if the business is completely insolvent. While the determination of worthlessness is often subjective, the courts have generally upheld it when there is no reasonable possibility that the investors will receive anything of value (see, e.g., Drachman, 23 T.C. 558 (1954))."
http://tinyurl.com/lxnzenl
I agree. I bet this is the start of a "news dump". Too bad the news that gets dumped is about as smelly as a dump!
Boom! And we are current.
Doesn't mean too much but its something!
I don't think buying here is smart if you are already in a large position like most of us. New buyers have less to lose if this thing tanks to the pennies. We really do need some news if we expect to move or even hold these levels. I'm not even confident news of the 5 Million is even going to be good enough to move this hoss.
Declaring a loss while still "holding"....
I think we all can agree our money is gone, but is it possible to declare a loss on my taxes this year for my investment even though Im supposedly a share holder?
Good news would be giving us our new shares and letting us sell!
I've heard for years about people that got screwed in situations like this for penny stocks which is why I stayed away....until OTOW! I did pretty well last year in this but I should have took the money and ran. Instead I kept buying as it dropped.
I now accept the fact that my 10 million shares at .0024 will never be seen again!
80 Million Plus sitting on the Ask for .0004
It's sad that these 3's might actually go but then those 4's are monsters. This is the reason we never breakout!
Not your average pinkie...
I've never seen a pinkie release so much "news" and move so little. Lets assume he isnt dumping into every release (I don't think he is) how can we do SO MUCH VOLUME and sit here!
Other than a short, why would ANYONE given the volume keep such a low ask?
Will someone life the ask on the 3's please!
Who doesn't love a good P&D!
Do me a favor guys, get us above .003!
Nice post Emz. Thank you.
I didn't get involved with OTOW for a short term trade. It does suck seeing so much red from my average cost, but "it is what it is". OTOW is an investment, not a trade (as Cramer says about AAPL). My only concern has ever been the risk of "going under" which would negate my complete investment to $0.
My concern after his email response is still the possibility of a reverse split. This looks more and more likely. I don't understand the dramatic change in share structure recently only to doing a reverse split shortly there after, but what do I know.
Is the DTCC Chill a fact?
Has this really happened again?
I heard about this being a possibility....
You're techincally right,
but I assumed worst case scenario every drop of the authorized shares get dumped into the market. Imgaine this and the USDA 33 Million! I can dream!
.0058 is the valuation simply based off this loan.
I know there are other assests but this is where we should be AT LEAST just off this news!
(8.5 Billion divided by $50Million)
saw 5 million get picked up at .0045.
That's exactly what I was worried about. They had over 25 million sitting on the ask yesterday.
Today's the day?! Is this what is going to make us POP?! It sure is a hell of a lot more than what the USDA was promising!
Does anyone understand truly how the addition of 6.5 Billion shares affects us? I know the float is under 2 Billion. I assumed it was to sell to private investors but if that was the case does that mean there is no USDA loan? Other idea was he plans on selling into the run with the news of funding. Either way it seems like too much resistance to move back up to a penny.
Good news is that we are current on OTC Markets. I don't think I've ever seen us that way.
Great Response Greek! I've been short this stock since .99! I hope they just keep doing what they have been because I'm holding still. This stock has the best ticker ever! Why wouldn't you have SHORTED IT!
Ironically Greece is and has been in the same situation! Long the Italian Lira!
Even though I'm sure you were being sarcastic I'll respond.
I've never had any problems with Ameritrade and Penny Stocks. Which is why I'm tied up in millions of shares or OTOW without being able to bring my average down. So yes, if I wanted to buy some more I would have to open an account with someone that would still allow buys.
Seeing that we are still on the Chill list I don't think it would be safe regardless to buy more now until I'm completely out of my position at Ameritrade. Especially if there is even a rumor of a reverse split.
NM. DTC Chill confirmed. Can't be bought within TDAmeritrade, but can be sold as of right now.
Are we "unchilled"?
You're correct about leaving specualtion aside, but I also think you're right about something bigger brewing. We go months without news and then this prepaid card thing drops. Val made it clear he was no longer just putting news to put news out. The prepaid cards had meat to them. We wont know how much meat until a few months when their momentum picks up but regardless the PR's are in the right direction.
I feel like we are on the runway waiting for take-off!
BLTA all the way!
Every chance I get I add!
I suspect at some point with news of funding OTOW will start to buy back their stock. They've done it before and it preceded a large move.
BUMP!
Someone posted recently how we should start drawing more attention to the OTOW thread and I completely agree. If you are truly "long and strong" tell someone about it! Everytime I meet someone who trades actively I recommend OTOW, and if you believe in this company than you should too!
I hate to call the bottom but we have held around this level waiting to run for sometime now. Debate all you want the merits of the USDA loan or income from the Prepaid Card (which I registered for)OTOW is the best positioned PennyStock I've seen. We could BLOW-UP or fall flat but isnt that the story of the this market? Thats what we all come here for....that "lottery ticket" if you will.
I've done my DD and have been following OTOW for 2 years now and I know that I'm not the only one with that confidence.
45 Day Approval Period
Generally it takes 45 days to see approval for most government loans. I'm sure this application was done some time ago and we are probably ending the month and a half waiting period. I would expect confirmation soon. Load the boat HERE!
What are you talking about George!?
What is there to lie about? They applied for a loan that the government is providing strong incentives for. Many lesser companies have received this funding and clearly with Atlanta going live they will have income to repay.
Someone STOMP the ASKS @ .0042 & .0048!!
Who are these people trying to scare the buyers?!!!
That .0039 for 1.3 Million should just drop a market order! LOL
OTOW Preapproved?
Can anyone find the website stating this?
Mainstreet Broadband, LLC was funded $34 million from USDA broadband program and now is operating in 120 cities!!
This company was no more established than OTOW
Great Article! Thank you!
I would never have found that. I wish that got released as a PR.
I understand there are many other assets not factored into this but at the most basic, simply from this solid source of funding, OTOW is worth between .03-.06 a share. Everything else would just be piled on this meaning an investment at the current levels are actually a blessing!
$33,000,000 Divided by 520,000,000 OS = .06?
or is it $33,000,000 divided by the 1 Billion total shares that makes the MARKET CAPILTALIZATION?
Looks like the guy dropped the 1 Million+ order! Hopefully he's scurred.