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I am looking for a scanned (or photographed) copy of the entire mailer promoting BEAG. $50 via paypal or square cash to anyone who can get me that.
Still no position.
hahahahahaha
Selling short is impossible in a cash account. If you are selling shares and you own them then that isn't selling short. That is just selling. I am amused that you conclude that I don't know what short selling entails when you write, "a cash brokerage account and shares of the security in question sitting in their account; they are able to sell short the security."
I've been making a fine living primarily shorting OTC stocks for twelve years. If shares are available to borrow they are shortable at brokers such as Interactive Brokers and specialty brokers like Centerpoint Securities (I use both). The problem is being able to borrow the shares -- sometimes there aren't shares available to borrow or in the case of BEAG my primary broker IB decided to restrict trading in the stock to prevent any clients from opening new positions (long or short).
If I were convinced that BEAG would drop big quickly I could short at Centerpoint now, paying a $0.012 per share borrow fee per day.
Oh yes. LOTE and LEXG were even bigger short squeezes. To get those though you need to have few (or just one) insiders dumping shares and overconfident (and large) shorts to squeeze. 99% of the time it isn't worth the effort -- insiders make plenty of money just dumping shares into the promotion that they acquired for almost nothing earlier.
Re: LOTE
https://www.goodetrades.com/2018/04/finra-reaches-decision-against-broker-wilson-davis-co/
https://otcmarketresearch.com/bpth-short-squeeze-kills-market-maker-mica/
That is how the pumps usually work -- insiders or whomever paid for the pump sells into the volume generated by the promotion. They don't wait for the stock to drop to start selling. Once they run out of buyers the stock drops.
No position (unfortunately -- wish I could short).
I figured but I still want a scan.
FWIW another landing page pumping FRLI is here: https://dnainvestoralerts.com
Could you scan the mailer (assuming you have received the physical copy)? I'll paypal you $30 if you do. Dm me here or on Twitter: https://www.twitter.com/goodetrades
If anyone has legally recorded a call with the boiler room people promoting this stock, I would be very interested in that and may be willing to pay. Do be aware that to legally record a phone call you need to live in a one-party consent state or obtain assent from the caller to record the call.
Even just posting the number that the promoters called from would be useful.
To anyone trading this -- be careful -- boiler room pumps usually dump the hardest of any kind of pump and there is little real liquidity in this stock. I assume that the promoters are supporting the bid -- when they can no longer sell more on the ask than they have to buy to support the stock they will stop supporting it and soon enough it will be down 80% or more. This has already been promoted for over a month so it is late in the pump. Also, this thing has a market cap over $200 million!
I go over OLMM and COCM boiler-room pumps in this blog post: https://www.goodetrades.com/2018/06/how-boiler-room-pump-and-dumps-end-comerton-corp-cocm/
Disclosure: I am short NHEL and plan to hold short until the stock dumps.
Yeah -- if no one with the RECAP browser extension hasn't looked recently and the court isn't one with an RSS feed then it will not have the newest docket entries. Of course look now and after I paid the 10 cents to PACER it has everything. Biggest use of CourtListener is having many documents freely available.
I recommend CourtListener.com from the not for profit Free Law Project for following cases on PACER.
Here is their docket of the same case:
https://www.courtlistener.com/docket/7806915/securities-and-exchange-commission-v-weber/
And anytime someone with the RECAP browser extension downloads a document for any case on PACER that will automatically upload the document to CourtListener, allowing others to get it for free. I am a huge fan of what they do and it makes it a lot easier to follow cases.
This works so well that I no longer even bother saving files I've downloaded to PACER because they are saved and organized so much better through RECAP.
Read more: https://free.law/recap/
This is incorrect. The PR is poorly-worded but actually refers to Jay Fung's settlement.
Fung's settlement: Doc 113 from 11/28/2018: https://www.courtlistener.com/recap/gov.uscourts.nysd.435102/gov.uscourts.nysd.435102.113.0.pdf
The case against Thompson continues. Docket: https://www.courtlistener.com/docket/4354450/securities-and-exchange-commission-v-thompson/
The brokers used were listed in doc 5 of civil case.
Civil case Docket: https://www.courtlistener.com/docket/7978434/securities-and-exchange-commission-v-knox/
Brokers:
i. Wedbush Securities, Inc. (United States),
ii. Forte Securities, LLC (United States),
iii. Lombard Forte Securities, Ltd. (United Arab Emirates),
iv. Prometheus Capital Finance, Ltd. (United Arab Emirates),
v. Tendall Capital Markets, Ltd. (Malta),
vi. Forte Securities, Ltd. (United Kingdom),
vii. Valbury Capital, Ltd. (United Kingdom),
viii. Linear Investments, Ltd. (United Kingdom),
ix. ADM Investor Services, Ltd. (United Kingdom), and,
x. Interactive Brokers UK, Ltd. (United Kingdom).
Criminal case docket: https://www.courtlistener.com/docket/7982383/united-states-v-knox/
Chris Irons has worked for Geoinvesting / FG Alpha Management / Dan David
https://geoinvesting.com/chris-irons-critical-analysis-stocks/
"His equity and business analysis has been featured in the Financial Times, Yahoo Finance, Motley Fool, Seeking Alpha, USA Today, the NY Post, and other major news outlets. Previously, Mr. Irons worked as the sole investor relations contact for a public company with a market cap ranging from $12 million to $150 million with over 6,000 shareholders, and assisted in the closing of over $20 million in equity capital, preferred stock, and secured debt financing from high net worth individuals, including several billionaires, as well as institutions."
Chris Irons has been popular on Twitter for awhile and is pretty good for constantly tweeting out news. He was named in the Eros International (EROS) lawsuit against Geoinvesting and other short sellers that criticized the company.
Heck, he even presented (imo a dumb pro-gold rant) at Whitney Tilson's short seller seminar a couple months ago.
https://www.goodetrades.com/wp-content/uploads/2018/05/doc-162.pdf
"Attorneys for Defendants GeoInvesting, LLC,
Christopher Irons, Daniel E. David, FG Alpha
Management, LLC, FG Alpha Advisors, and FG
Alpha, L.P."
https://www.goodetrades.com/2017/10/eros-international-plc-eros-sues-large-number-of-short-sellers/
https://www.goodetrades.com/2018/05/update-on-eros-v-short-sellers-litigation/
Still licensed by the Illinois bar, with one disciplinary case pending:
"In re Adam Samuel Tracy, 17PR0014
Case is pending. For more information, call ARDC at (312) 565-2600 or, within Illinois, at (800) 826-8625."
https://www.iardc.org/ldetail.asp?id=147104768
Thanks so much to you and Sam.
Did anyone save a copy of the AMLH landing page pump from AMERICANTECHREPORT.COM from when it was pumped back in May?
Completely wrong. The shares will be cancelled upon the effective date of the bankruptcy plan, which usually happens about two weeks after the plan is confirmed. The plan will be confirmed on 4/20/2017. Look at the docket -- that is when the plan confirmation hearing is now that the DoJ has approved the settlement with the partner airlines.
I don't understand why people don't sell. You own something that will be worth absolutely zero in 17 days and you can still sell it for $0.17.
// I'm short.
For me the current cost to hold it short per week is $0.083 per week. Odds favor it being deleted in two weeks -- it would have to take me 5 weeks to get out (and stop the borrow fees) for it to have been better to cover into the close yesterday.
The brokerage is Interactive Brokers. And I know what their responses are and they have been consistent in giving them on multiple situations to many different traders -- they do not remove the stock (and borrow and its margin effect) until DTC deletes it and that is that.
IB and other interested parties (such as transfer agents) will not give anyone contact info of someone at DTC and I know a couple people who have tried calling DTC and never got anyone.
If I could reliably get a stock removed soon after cancellation it would be enormously profitable and riskless to short stocks like EOXLQ or the former LINEQ into cancellation.
At IB another option is if longs have given up and submitted the dollar-for-lot form so they can take the tax loss then I can use those shares to cover my position.
I appreciate the reply but that is how it should work, not how it does work. In practice, the company needs to instruct its transfer agent to instruct the DTC to delete the old stock. If they fail to do that or are slow to do that, as a short seller I will be stuck with that position in my account for which I am paying a borrow cost and which is using up my margin (because to short a stock under $2.50 per share requires $2.50 per share in cash that can't be used for other trades). Energy XXI (EXXIQ) for example, had its bankruptcy plan go effective on December 31st, 2016, and it is still sitting there in my account (costing me borrow fees and preventing me from using the money for other trades).
Best-case scenario is the stock gets deleted by DTC in two weeks. Because BTUUQ has a very high borrow cost it is cheaper for me pay someone to transfer their shares to me immediately than to pay that borrow cost for two weeks. I am not even sure that would work because I haven't done it before but even though the stock has been cancelled in bankruptcy it still exists in DTC so should be transferable.
See for example: http://www.cablecarcapital.com/what-happens-when-you-short-a-stock-to-zero/
BTUUQ is now worthless. I WILL PAY FOR YOUR SHARES. I am short 3413 shares and the borrow fee is high. I will pay 8 cents per share to the first person who agrees to send me their shares so I can close my short position. I would send payment via Paypal and after you send me shares via FOP (free of payment) broker-to-broker transfer.
Anchoring -- People thinking it can't be worth zero because it was just at 3.00. And never underestimate the power of human stupidity.
That appeal was already denied last week, with extreme prejudice.
https://twitter.com/goodetrades/status/847468956189437952
Sell your shares of EXXIQ to a short seller in need! The DTC for whatever reason has not deleted EXXIQ yet even though the old stock was cancelled at the end of bankruptcy. I was short 35,000 shares into the end of bankruptcy thinking the shares would be deleted in a couple weeks but that did not happen. Those 35,000 shares are tying up $87,500 in capital. If anyone still has 35,000 shares(or more) showing up in their account I will gladly send them some money via Paypal and they can send the shares to me via FOP transfer. I am willing to pay $0.002857 per share ($100 total). Please verify that the shares still show up in your account and that your broker allows FOP transfers to other brokers (my broker in Interactive Brokers). If interested, email me: Michael.goode@gmail.com
You will likely have to call them. It is that way on many brokers when attempting to exit grey market stocks.
Per Interactive Brokers just now RIVT is .05 x .10 (of course they only checked with one or two market makers). I'll hold off on covering for now.
There is no exchange, but if you replace 'exchange' with market maker then yes you are correct. (And to clarify, market makers can trade grey market stocks for clients but can't trade them for their own account). So when I go to cover my short at IB they have to call up Knight Capital Markets to get a quote.
That is normal with stocks trading on the grey market. There are no market makers and people can't see bid/ask so the price jumps around a lot (of course most of that is trades happening at the bid then the ask). Judging by recent trades it looks like the bid is around .04 and offer is around .06.
And it is trading! $0.05
Sorry but with so few shares it isn't worth the hassle.
Pleasure doing business with you! I'm now down to only 4167 shares short so I'll probably just hold onto those -- it was nice to free $25,000 worth of buying power in my account.
I'll take what you have. Send me a PM with your email address or send me an email.
michael dot goode at gmail.
LOL. Now we have a functioning market, .05 bid by .35 ask. Screw FINRA.
Short sellers like me want to buy to avoid paying borrow fees on the short. Longs hopefully want to sell because they realize now the stock is worthless.
I am bidding 5 cents per share (or best offer) for 17,500 shares of RIVT so I can cover my short and stop paying borrow fees. The transaction would be completed through a FOP from your account to mine (and that would require giving me your account number). I would prefer to get the shares from just one person. Drop me a private message here or contact me at my blog if you are interested.
https://www.goodetrades.com/about-me-contact-me/
That is good news!
Private sales of a FINRA halted stock
It appears to me that there is nothing preventing two non-FINRA members from effecting a trade of a halted stock -- the trade halt only applies to FINRA members (not normal Joe Schmoe traders). I am short 15,000 shares of RIVT and if someone would be willing to send me the shares to close out my short position I would benefit by no longer having to pay $5.50 in short stock borrow fees each day and the long that sent me the shares would benefit by being able to take the loss for tax purposes. I would also offer a small amount of money (make me offers for what you would take). Any thoughts on whether this would work?
The shares would be transferred via FOP: http://ibkb.interactivebrokers.com/node/1002
See http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=4414
Do you recall the last time a listed stock got an SEC trading suspension. I cannot recall having ever seen that.