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As I posted earlier, those who doubt are going to continue to doubt until concrete fact is shown and those who believe or going to believe through the silence, so honestly Jeff just saying that they are continuing to work towards the 211 or whatever else just really isn't going to do much for anyone. As a s/h I would love an update, but realistically it won't change much. We either rise from the ashes or fizzle out, but a "progress" PR won't do much either way
This is still a great entry point imo. Tight float, real products and testing under way, filings coming. The only reason for this price is low volume with a few small bid whacks from some who have gotten bored. This thing could double into the 6s in the blink of an eye with heavy buying pressure.
Starting to wonder if it is just one person who continues to do this. Plenty of sales going through at .003+, there was no need for that. Maybe they were desperate for cash for a morning play, but still annoying. Oh well, the bid whackers can't stop us forever.
Maybe we have, idk yet, nothing in this life is certain but death, but we all have our beliefs and hopes. I believe in Jeff and the company. Stating the specific reasons for the suspension has no upside. It only sets himself up for more liability or to make himself look incompetent. The SEC would never allow for a statement that put any kind of blame on them even if they did anything wrong so it would be pointless. And even if there was a good reason, then the doubters and bashers would just turn to saying he is lying.
This is kind of like a political debate, some of us believe one way and some the other, but for the most part, nothing can be posted on this board that will change anyones mind short of us returning to the pinks. Thus I stand by my statement of waiting until there is real, verifiable progress made.
What is the point of an update until he has something substantial to tell us? Look at GTG* and MIK*, both of their CEOs immediately updated them claiming they were filing everything and this and that and it did absolutely nothing for the PPS. Jeff could come out and tell us he is working on the Form 211 or the audit or whatever, but until something is concrete and completed it won't do anything.
Not that I am aware of. My understanding is that the focus is to get back to the pinks first through filing the 211 and once that is secured than to audit and look to uplist.
To reiterate. There weren't questions arising concerning the financial statements, thus the PR issues had nothing to do with the PRd revenue figures. The issues have likely arisen from things back in 2011 nothing recent and obviously not about the buyback since that was PRd AFTER the suspension.
Since everyone here has claimed that the SEC puts such thorough time and effort into their investigation before issuing a suspension than we should be able to agree that recent PRs shouldn't be in question since they were only a few weeks before the suspension and that doesn't seem like much time if the SEC really was doing a "thorough" investigation.
A suspension does not imply guilt, it implies lack of transparency just as an IRS tax audit doesn't imply guilt, it implies a call to substantiate facts. Jeff and his lawyers will fulfill and likely already have whatever the SEC needed them to. Now is just a matter of time.
Agreed, also waiting on news from the initial testing IIRC suppose to come "mid-october"
Have a good weekend fellas. We held 3s, good sign going into next week.
Not that this will hold any weight over here, but he wants to release those numbers with news of the 211. Doing it before hand seems like it could just cause a whole other mess of problems.
Agreed Mr. Krimes, bid is growing and a few still are too impatient to hold, but even they are realizing this stock is to valuable to bid whack at. Looking to hold 3s into close and have a great week next week.
Its definitely coming! We saw a small glimpse mid week, but she is going to run for us. When it dipped to .0023 there was 2mm on bid. People want in on this, they are just hoping to get in cheap, but were I able to see L2, I would venture to guess there are not many up for sale sub .003.
Yeah the bid/ask action on this stock is really funky. Often sits below price and its all these small sales for like $20-50 that whack the bid. Seems almost like a game for someone to get in cheaper. But you will notice even when price was down at the .0022s, the asks were small lots. This trading is just between a few weak impatient hands with low holdings.
Just cleared the ask back to .003, seems pretty thin, we just need to close green today. There is interested here no question.
Very low volume today, but on the bright side, we usually would have had a bid whack by now so it appears that shares are finally in the right hands.
Morning Doog! Lets have a great day here guys.
If anyone could post L2 I would greatly appreciate it!
Have some dry powder to slap the ask with tomorrow. So if any of the bid whackers are reading, let me come to you! I will make sure to fill those $25 orders lol. We need some Momo, once we can stay above .0032 resistance we should run back to 5s soon. glta
Funny isn't it? Since the SEC does such a "thorough" investigation before issuing a suspension, seems like they should be ready to file a suit and charges the same time they issue the suspension.
So which is it, they rushed their investigation or they didn't rush it and have found no further action against JR? I like our odds either way.
How about that pathetic whack for $25? Hah, what a joke some of these guys are.
Exactly. There is even a site called P&D.com. Essentially a road map for the SEC. Those companies take people for 90%+ of their money and stay open to do it multiple times over several years. Yet they see no SEC action.
Once again, he does not control such shares. He has the ability to convert his preferred shares to common but has not done so beyond what was reported in the Q2 filing. There is a substantial difference in comparison to what you are posting. You can't just list the shares as converted when they have not been converted...
Great Post DF. We are down in the pennyland swamps for a reason. Even those of us who were planning on holding KMAG for years to come were still playing a numbers game, banking on a big reward for a big risk.
If anyone down here playing pennies was just looking for a nice steady safe return on investment, they would not be down here to begin with. Day trader, short and long alike, we play pennies for overnight profits, ones that would never been seen with a company like Microsoft and with the huge possible reward comes a huge risk. As I posted before, I have lost a lot more money on a crappy P&D than I am even close to being in the red were I to liquidate my position in KMAG. But to be in this situation because the SEC is trying to "protect future investors" is a complete joke.
That is what is so funny here. People are crying and demanding of Jeff and KMAG things that no one demands of any other penny stock. Yeah we got suspended and will have to go to extra measures to rectify the situation, but that doesn't mean we should be held to this ridiculously unrealistic standard. If Jeff did half of the things that people here are demanding this would definitely not be a pink sheet stock and would not be trading for .004.
Would everyone like Jeff's home address and social security number while we are at it?
Confirmed Buy on American Bulls. Not that that holds a lot of weight, but just another positive to note. Hope for some accumulation early on this week with news by EOW. That would surely send up the direction we need to go. No more of this bid slapping.
Agreed. I have no doubt that some have lost patience and want to move on to another play, but there are no profits left to be had in the 2s, we have seen the 3s and 4s so many trading days there is no reason to be slapping the bid at freaking .0022. Even for those who want their cash free, if they would just play it right, they can get out in the 3s very shortly.
We may not benefit from it, but it is just another reason why fraudulent activity in Mr. Reid's KMAG capacity is extremely unlikely. He has way too much to lose and very little to gain by doing such.
Oh really? 1 trade for $186 took it to .0031, hardly a race for the exit.
Is this an inconvenient situation? Absolutely. I don't think anyone here has denied that truth. I am huge KMAG supporter, but obviously having to work hard and long and hope for the best and wait all to see the price possibly just get back to cost basis (for me) is obviously not an ideal situation.
At the same time, we were all locked into this stock because we believed in the company and that fact hasn't change regardless of statistics. As far as price, volume, etc. all of us as traders have encountered stocks that took harder hits due to some bad news or bad momo, no suspension or fraudulence at all. This is part of trading. My biggest loss to date was due to pumping followed by massive dilution. My point being that although the greys are an ugly situation, every possible 10 bagger comes with a 99% down side, this is just the nature of pennyland. None of us would be here to begin with if we weren't risk takers. So to continue to harp on the poor probabilities or inconvenience of this situation after a month now just seems unnecessary.
Good post and I agree. It is obvious that no one is still profit taking from previous runs so it would appear that mostly losses are being taken, like you said probably to hop on momo plays. This is an established company with a lot of big things coming so definitely no worries here. Strong possibility of some big news this week also, could see a lot more volume.
Yeah, activity has been weird lately, but a lot of it seems to be due to lower volume. A couple of small red trades hold down price for the rest of the trading day.
Not going to wait for the news this week?
Haha I was thinking hmm you really are all in! lol
Big month here fellas. Once we get the testing results, this thing is going to fly! Almost at the middle of October, I would be happy with anything by month end though.
The Oct. 3rd PR was really good news, I think this play has just been too quiet for so long no one really noticed. Seems like price tanked from people getting bored and moving on to other plays.
Great post!
Thanks, I feel so enlightened.
To each their own : )
Large buy today, looks to me like the buyers are willing but the sellers don't exist. the tighter volume coils, the bigger the explosion when we get news of the 211 being accepted.
You of all people should know that is the norm. Look at any big four audit report. There is never a sole party who signs their name to the report.
Elaborate, your last post on this matter seemed to arbitrarily include the preferred shares as if converted entirely, which they have not been.
I have read that section of the attorney letter several times. No need to get defensive, I wasn't claiming they are fraudulent or misstated, I am just saying they do not look very professional. I am plenty familiar with GAAP ; )