Exposing Pump and Dumps - All my own opinions / not financial advice
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Yikes!! Not good for small ICO related firms and BITCF’s tokens
https://www.wsj.com/articles/sec-launches-cryptocurrency-probe-1519856266
Given the suspension, auditor's background, mgmt's background, and volume falling off a cliff the last week... I think the outlook is pretty ugly for BITCF. Fundamentally they have signed deals with PQEFF, but PQEFF is an oil company, that shares the same auditor as BITCF, that has never successfully extracted oil. Meh. Also, BITCF coins, although may have large "market caps" have no volume so there is really no liquidity here so the crypto assets BITCF has really need to be heavily discounted.
I have posted on three boards I have actually traded.
Long and short GBTC - made money each time but the short was a quick trade and was all luck bc it was trading at >2x premium to book
KMAG short way back, I think my first post
BITCF - cost of 1.73
So I am 100% batting avg
Please don't delete my posts....One's track record is important
Great post. Extremely information. Thank you, Janice
I actually agree with most of what you're saying. The importance to PQEFF has to BITCF is it is an example of the types of business practices in which the engage and pump PR. PQEFF share the same auditor as BITCF and it is important to look at fact patterns associated with the auditor. That's all.
I answered PCAOB question
My bad the prices for PQEFF were for 17/18 and the stock is down 25% not up 2000% like you said
Since Hay&Watson signed on stock is flat not up huge.
Let's please quit with the misinformation
I know how the stock market works. I work for a multi B HF, this is just a PA short for me Bc liquidity was too low for the Fund. We are short other crypto “fads/frauds” that are a little more liquid and listed.
As for a portfolio of shorts with suspect auditors, it’s actually a screen many successful funds do to fund frauds / companies with bad financials that will get hit by SEC or have to restate earnings
PQEFF price 2/22/16 - 1.41
PQEFF price 2/22/17 - 1.14
Explain to me how that is +2000% - more lies!
As anyone can see, everything you say is factually incorrect!!!
https://www.google.com/search?rlz=1C1CHBF_enUS744US744&ei=WkKPWue7FO26ggeUsbb4Cg&q=PQEFF+stock&oq=PQEFF+stock&gs_l=psy-ab.3..0l2.514849.517225.0.517397.13.12.1.0.0.0.265.1224.4j5j1.10.0....0...1.1.64.psy-ab..2.11.1233...35i39k1j0i67k1j0i131k1j0i131i67k1j0i131i20i264k1j0i20i263i264k1j0i20i263k1j0i10k1.0.57kAqgqKi1g
For auditors, if they have deficiencies you can get them resolved the next year. As Hay&Watson has done. However, my point is they are auditors for penny stocks only that have had horrible performance once taken on as a client.
“$BITCF partner is up 900% & is QX (not current?)”
1) My assertion of not current and your QX comment: see Page 2 of NuLegacy:
NOTICE OF NO AUDITOR REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
In accordance with National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the condensed interim consolidated financial statements, they must be accompanied by a notice indicating that an auditor has not reviewed the financial statements.
The accompanying unaudited condensed interim consolidated financial statements of the Company have been prepared by and are the responsibility of the Company’s management.
The Company's independent auditor has not performed a review of these financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of condensed interim consolidated financial statements by an entity's auditor.
2) My assertions of all clients down 90%+
List of Hay&Watson “Hay & Watson CA” **LISTED** Clients... Seems one thing is very common:
Name / Announcement Date / Performance since Offer
Western Keltic Mines Inc 10/30/2007 Pulled
Peregrine Metals Ltd 12/18/2009 Pulled
Kiska Metals Corp 3/3/2011 Pulled
Fortune Valley Resources Inc 5/24/2007 Pulled
Rye Patch Gold Corp 4/11/2007 Pulled
Fortune Valley Resources Inc 7/20/2009 Pulled
GMV Minerals Inc 7/28/2006 -93.88%
Tarku Resources Ltd 3/12/2012 -82.50%
Primero Mining Corp 5/9/2008 -97.00%
Ethos Gold Corp 8/24/2007 27.50%
Petroteq Energy Inc 5/1/2008 -88.39%
Advance Gold Corp 7/20/2007 -93.50%
AgriMarine Holdings Inc 8/3/2007 -98.67%
3) Your assertion of BITCF up 900%. They announced the appointment of Hay&Watson on 12/7, and it’s roughly flat since then, not up 900%!
Hay & Watson has like seven public clients all of which are penny stocks.
Hay & Watson's public stocks are all down 90% since IPO and many of them are not current with audited financials (PQEFF included)
Sure other major accounting firms have had deficiencies, but they are legitimate shops, with big names, big clients, and are well respected. If Hay & Watson were well respected maybe they would get some other clients outside of penny stock promos?
Your analogy is similar to this:
Lionel Messi tripped while dribbling the soccer ball one play
My 6yr old daughter tripped while playing soccer too
Their soccer skills should both be lauded the same.
Couple things
1. If crypto crashes, there won’t be any ICOs so there will be no need to use BITCF, IMO.
2. Their venture with PQEFF is suspicious to me as they both have the same auditor, who has deficiencies in 2010 and 2016. Also this auditor is only and auditor for penny stocks and the avg company for which they audit is down 90% since IPO.
3. PQEFF has never extracted oil from the ground, so who would trust them as a technology/oil company. If XOM or someone who has experience in high tech/oil extraction was working with BITCF I would cover my short and go heavy long
I’ll cover at $0.20
I believe this will fall very hard very soon. I would worry about the regulatory pipeline and grey listed Companies like these can't compete with the big Companies. BITCF destined to fail
I’ve been very public about my position of short since 1.72... does that matter? All of you are long this stock? I’ve been much more transparent than anyone else on this board.
You’ll get filled then it will trade back down to $0.5 next tick bc the market maker will just buy and sell it. You should go spend $2k ok your gf/wife/significant other rather than light it on fire
First off your answers are hypothetical and speculative in nature and have no more credibility than me saying they were delisted due to overt fraud. Neither you nor I can prove either are “wrong” or “right” but given mgmt history and SEC hit rate, I’d bet it’s more fraud than misunderstanding.
Again, the auditor has had deficiencies and of the companies it audits for, they are on avg down 90% since they started trading. Doesn’t look good.
Their financials aren’t audited so who cares what their financials say!
Hay & Watson has audit deficiencies
Hay & Watson is a small team that has PQEFF as a client
Of the 12 Hay & Watson public clients, on average they are down 90% since IPO
Hay & Watson doesn't have any non-penny stock clients
They're not current with audits .... They can't come off greys!
That’s why shares are artificially higher than would normally be... you can stay short if you were short before, as I was with a cost basis of 1.73
Also I’m very bullish the First Coin/Galaxy IPO coming up in March, so I’m not just a bear
Not disclosing the size of my short but I’ll cover down another 50% or so from here
Cost basis 1.73
I am short
Stock <$0.6
That’s how I’m in the green
My cost basis is 1.73 and I am short. So to answer your question, I’ve been making money everyday unlike the longs. Sooo maybe your insult was directed at yourself??
Cost basis is $1.73 so I’m green all the time baby
Who are their new clients?
What are their coins worth that trade over $100k a day?
Explain profit potential please Bc all I see is a grey sheet delisted company with a checkered auditor and falling share volumes
So you’re saying retail investors are more knowledgeable than institutional professional investors? Hmmm
I think you want to heed the advice of professionals at large Crypto Funds who employ cryptographers value the avg joe who doesn’t even know what python is
What do you mean? You need someone to vet these technologies or you end up with fraud. How are any of those institutions rent takers? The rent takers are the 4% you’re paying Coinbase to trade.
A bunch have already been shut down by the SEC, what are you talking about?
It’s held in quite well tbh but so have most “crypto” related assets. The auditor has issues, as well as their press releases, no way this will trade in US. Maybe Canada at best
Yeah i agree but the ones with good tech already have big backers. If Exxon mobile teamed up with Galaxy/First Coin it would make sense but a penny stock BITCF teaming up with a penny stock who has never done anything successful in tech seems like a zero
Agreed maybe some other bigger coins will survive but the smaller utility coins are all dead
“The blockchain should be hot for at least 2 more years”
Lol what gives you any confidence? Also what gives you any confidence BITCF has ANYTHING to do with blockchain technology? Are there any success stories of them building blockchain technology? Nope. Are there any examples of them creating a crypto for successful blockchain companies? Nope!
Pls share short data Bc it’s not possible to short this stock. You can only trade through market makers; You cannot lend shares.
PRES has $100k in volume, so very illiquid even on its most liquid day. Also, how does this have any value/intrinsic value. Its a commemorative coin. If Trump cared he could say he has his own coin and this down 99.9999% that minute
WRT to assets: most are illiquid and worthless tech. Also their earnings aren't audited so who cares what they say?
See below: None of their assets have any real value or solve any real issues. You may try to argue ALT, but no real backers, awful perf, and no volume, so you're wrong at this point. You may argue PQEFF, but they've never pulled any oil out of the ground so what credibility do they actually have? The tech they were using before was dated oil sands, which will never come back. So you're betting on a company that couldn't get any oil out of the ground that has "tech" for oil sands which will never come back? COME ON
https://www.bloomberg.com/news/articles/2018-02-07/get-ready-for-most-cryptocurrencies-to-hit-zero-goldman-says
Still well below my cost of $1.70. The asset is worth <0.01 but I would cover around $0.20 bc of grey sheet dynamics of you cant short (so it is artificially propped up), continued PR, and crypto mania still exists. FWIW I do like a couple Crypto companies, specifically Galaxy/First Coin Capital which should go public in a month.
See disclosures !!! They own the stock AND they’re a client of course it’s going to be bullish!!
“Petroteq Energy Inc. is a research client of Align Research. Align Research own shares in Petroteq Energy Inc. Full details of our Company & Personal Account Dealing Policy can be found on our website http://www.alignresearch.co.uk/legal/“
Submitted a buy to cover trade with my broker this AM at $0.20 Let's see if it gets filled
If it’s real they would need Oprah to sign off on it, which they haven’t. So, there’s no value to this coin
Still grey
Assets off 90% since highs with no volume
More pump press releases with no actual meaning. Not to mention nobody stickied the China banning ICOs yet there a sticky of a BITCF working with a Chinese penny stock on blockchain tech
BITCF stock volume back down to 100k shares a day or $60k
Timber!!!
Today is a different time. Crypto is established and PRES has no legit backers (Polychain, Pantera, Blocktower, Galaxy, Silver8, etc).... The new and upcoming tech has strong backing PRESS doesn't
Yes same argument as once a penny stock was AAPL..... How would you bet on a deslisted OTC company to be the next AAPL? Probably not