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Great Post!!! Glad someone's actually taking the time to research the Republican lies.
Typical Republican propaganda. Lots of straw man arguments ("Mr President, you implied...") devoid of actual facts or numbers ("all of the companies that are switching to part time" - yes how many??? - tell us!! ...versus how many in previous years!!!). Lots of accusations with no proof of any.
Those acquisition rumors are for a different company - Brazilian Gold Corp (BGC) not Brazil Gold Corp (BRZG)!!!
Consider the source - Fox Boobs
Your whole stupid argument depends on this one premise:
Yes, like the tax credits (subsidies) in Obamacare.
Yes, free stuff is great - especially when it goes to real people who will actually spend the savings on goods and services which will help expand he economy, as opposed to subsidies for oil companies that are the most profitable business in the world and don't need the money.
And yes, I'm an insurance agent. Consequently, I actually have to know what's in the law as opposed to getting my information from Republican propaganda. I'll no longer have to tell my customers who need it the most that they can't buy coverage or that it's more than they can afford. Like a lady a few years ago who couldn't work because she needed a hip replacement. Her insurance company cancelled her coverage because she was 50 cents short on her insurance premium. This kind of thing is now prohibited by Obamacare.
I stopped marketing health insurance several years ago because too many of my prospects were being turned down or offered extortionist rates. I could have made more money under the old system because the commission structure is less favorable now. But now I'll have the satisfaction of knowing that I can really help my customers and perhaps make up the lower commissions with higher volume.
Wow! What an imagination! Did your mom tell you scary fairy tales when you were young?
For the millionth time, THERE ARE NO DEATH PANELS IN OBAMACARE!!!!
Sorry, I meant to say Medicaid. He qualifies for free coverage under Medicaid since he makes less than the poverty level and he can apply automatically by simply entering an application on the exchange.
Ditto. He doesn't have to pay any penalty. He's exempt.
The question then becomes, why doesn't he apply on the exchange (it's pretty simple to do) and automatically get enrolled in medicare? It doesn't cost him a dime and he gets free coverage.
Here in California, if he makes less than 138% of the poverty level (individuals who make $15,856 or less per year) and applies on the exchange, he will automatically be enrolled in MediCal (our version of Medicaid) and won't have to pay a dime. In those Tea Party states that didn't accept the Obamacare Medicaid Expansion, only those making under 100% of poverty qualify but they will still be automatically enrolled on the exchange.
If he's making under the income threshold (in 2013, $9,750 for a single person and $27,100 for a married couple with two children), there is no penalty for not getting coverage. Also:
If that Texan is, as you say, not getting a subsidy, then he's making over $45,000/yr if he's single or over $65,000/yr as a couple. As a 62 year old in California, if I were not getting a subsidy, I would have to pay $571/month for the same $5,000 deductible plan that is currently costing me $615/mo through my contract group benefits. Obamacare would save me $528/yr. Plus, as a typical 62 year old I have several pre-existing conditions that would preclude me from getting coverage under the old system. Even if I could get coverage, the insurance company could tack on as much as 200% additional premium due to my health, thus bringing my monthly premium up to about $1,800 and that doesn't include the $5000 deductible or the potential $7,500 out of pocket maximum. HOW AFFORDABLE IS THAT!!!
Now, due to Obamacare, I will get a $495/month tax credit, bringing my premium to $76/month and saving me $5,940/yr which, on my income I will spend on goods and services. Multiply me by several million and I can't wait to see the impact on the economy. I can also now comfortably decide to retire early if I like and free up my job for some younger unemployed person.
YES I CALL THAT AFFORDABLE!!!
The 10K annual report was just released. OS as of 9/30/13 is 340,063,975 but only 87,304,812 is not owned by affiliates (officers, directors and 10% shareholders) - i.e. float.
I don't think they'll release a significant press release during a government shutdown. Why fight the headwind of a government crisis? I think this is still loading time
We need to pin down the float. How much of that is restricted? Has stock been issued for acquisitions or simply to pay principles. Too many unanswered questions. A good PR can give this a bounce. A really good PR can make it take off.
We've been mostly betting on a pump and dump anyway. An R/S would just start the pumping at a higher pps. On the other hand, an R/M would lock the float according to the CL&M article since the issued shares would be restricted. If there is legitimate value and possibly cash flow coming from the private company we'll still see a bounce and hopefully a stable pps at a much higher price.
I've been burned by an R/S before and there are plenty of reasons to be suspicious. However, these splits weren't ever accompanied by an R/M which simultaneously increased the company's book value. We really need to know more about the target company before making a judgment.
I'm not saying that a reverse is inevitable only that it is one possibility. Whether it is a bad thing depends on the value/assets that the target of the merger brings to the resulting public company. Right now there is little or no book value to this company. A reverse merger could change that over night.
If I understand the CL&M article correctly, the merger could also be accomplished by the issuance of up to 85% of the Preferred shares to the private equity holders. We'll just have to let things play out to see where we end up.
I agree. BRZG didn't go to all the trouble to catch up on their filings for a measly bounce to .003. There's something big still to come and a reverse merger possibly accompanied by a reverse split sounds like the logical outcome. Also, note that only 51 shares out of a total of 10,000,000 Series A Preferred shares have been issued to Conrad Huss. Who's going to get the rest of these shares? If Conrad only needs 51 shares to control the company why authorize 10 million? Is this to make room for a private company to own the required 85% of shares in a reverse merger?
Some of those shares may be restricted. Any word on the float?
CGFI's problems were due to toxic death spiral funding (i.e. arranging loans from lenders that were immediately convertible to stock at a steep discount). I lost a lot of money there too. However, there's no evidence yet of that happening here.
I still think there will be a big pump comming. I can't believe management went through all the trouble to bring this company current just so they could squeeze a few thousand dollars out of cheap trades. At this point we don't know if the 55 million share dilution might not have been due to a new acquisition, in which case it really wouldn't be diluting.
I agree with 567 on this one. Another reverse split may be in the cards but there's no evidence yet that the toxic funding will continue. The last R/S may have been an attempt to wipe the slate clean. They also must realize now that if they have any hope of continuing their operation, much less avoid legal action, they have to convince people that they won't be repeating their recent history.
Looks like it may have bottomed at $18.10 (I was off $.10). Hope the turnaround holds!
There seems to be a lot of support between $17.70 and $18.00. If it breaks below $17.70, next stop is around $17.10. I'm hoping for a turnaround before then but investors may be looking for a yield of around 18-20% to justify the risk. JMO
I still think they may wait a few days before the PR to avoid peaking too soon. Twenty five days is a long time for a pennyland pump and they'd want to be able to sell into the pump not the dump. If I were them, I'd wait until about the middle of next week.
Still time to load up. I just bought 300k at .0011 ( my average cost). I now have 4.5 million shares. Gee that's 1.8% of the OS
Nice analysis. I hope you're right. However, I think he might wait a few days before doing a PR to avoid peaking too soon.
TA's do show restricted shares. I've been following BRZG and they give us the OS and Float from the TA's. The Float is the OS minus the Restricted Shares. A lot of the sites are still showing the OS at what it was prior to the R/S (490,000,000+).
BRZG did try to do a deal in Brazil back in 2009-10 however it was never consumated.
These are trades executed after hours. Once the normal trading hours end the spread between bid and ask will often expand since thousands of bid and ask transactions that don't participate in after hours trading disappear from the boards. It's often a golden opportunity for shorts to cover or longs to pick up cheaper shares.
3,160,449 shares @ $.0012 posted at 16:07:11 on an after hours T trade.
Fal just signed the property lease in June to allow them to extract oil & minerals. It takes a long time to get permits for a gold mine. I'm not sure how long it takes to get permits for oil drilling. BRZG's investment only applies to that one property in Alabama. I doubt seriously that they're making money yet.
Perhaps, however, they've identified and quantified some reserves. They might also have another acquisition in the works. My hunch is another deal.
Market Makers are the big trading brokerages that collect orders from other brokerages like Scottrade and Morgan Stanley and actually execute the trades. They are supposed to try to keep trading orderly and will often bet their own money to keep the price from running up or down too fast. They in effect manipulate the price, however, most people think that they may be doing so for their own profit and not just being altruistic about it.
I'll try again using some round numbers for a simple example:
Suppose you buy $1,000,000 worth of mortgages from a bank that have a 10%/yr interest rate. A year from now the investment should be worth approximately $1,100,000 right (disregarding any small amount of principle that was paid down)? However, let's say a year from now the interest rates have gone to 20% and someone buying a $1,000,000 package of loans could make $200,000 the following year. If you want to sell that $1,000,000 package of loans that yield 10%, you could only get $900,000 for it to be competetive with the market price (i.e. the buyer still makes $100,000 on the package but you have to give him a $100,000 discount on the sale price). Consequently, if you want to sell it and trade up for that package yielding 20%, you've lost approximately $100,000 on your investment. For a company, that loss shows up as a drop in their book value (which usually results in a drop in their share price).
This is the problem facing AGNC and several other REIT's that operate in this fashion. What makes things more complicated is that they may only use $250,000 of their own money to buy that $1,000,000 package and borrow the rest at less than 10% interest (leverage). They might also do some type of short bets on the side that would increase in value as interest rates go up in order to minimize any losses (hedges). If they're successful in their hedging and have enough cash to trade up to better yielding mortgages and/or the interest rates go down again, their pps will rise again.
Hope that helps
See my post #583 ...
Yeah, I hear you. I was way too invested in a number of REITs and got burned pretty bad the past few months. I realized this last year and have been trying to diversify but it's hard to replace the yield. Oil and energy stocks have been my main target but they've been falling too. Hopefully, we've hit bottom and there's nowhere to go but up (at least for AGNC). Wish I could have bought in at this level originally.