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Greetings everyone.
Firstly, I have after nearly 10 years closed out my position with this company. I incurred a massive lost needless to say, this trend of loss was not limited to this last bit of activity including the RS which the new management executed.
However, let us all be very very clear on what happened here and where we now stand! The RS was far beyond what common shareholders authorized and even the most well endowed share count was obliterated on a value basis. The company as all companies has the ability, in the future, to right itself and become viable and legitimate... this is not the case right now though.
For future investors I feel it is my duty to remind you that long investors were wiped out when the insane RS was executed, in my case the PPS would have needed to be $300 for me to break even post-RS. This may turn out to be a viable investment for future buyers but right now it is wildly overvalued and based on their very recent highly questionable behavior and lack of financial performance I would exercise EXTREME caution.
We all take risks as investors especially by taking plays on individual securities and further still on OTC, but do your research and listen to long time investors when it can be traced to historical activity.
Thanks to all and GL, I AM OUT FINALLY!
P.S. one silver lining is I will claim this loss of value from BYSD on next year's tax return.
Hi there, long time holder here.
I made a complaint against BYSD with the SEC back when they were still into the petroleum game and targeting 2nd/3rd attempts on wells... they told me that the SEC does not regulate the vast majority of securities traded on OTC.
Someone fact check me if I am wrong but I legitimately spoke to a SEC investigator on the phone and I was told they would not investigate for OTC markets.
But I knew the risk when I invested in this POS, thankfully not my only investment nor should it be. I have only kept this one because it had no value to sell, now I am considering selling so I don't get slammed with another R/S fee.
In the end... it has been a learning experience getting into some investments on OTC but in all honesty I have made over 90% of my gain from value plays or dividends on the big exchanges and I have never had substantial funds to invest, just modest activity here.
Take it with a grain of salt, learn a lesson here if you need to in OTC... its like the wild west and you need to accept that and know that you should not expect or rely on oversight from bodies such as the SEC.
Just dabble and invest smart, there have been so many red flags here that were obvious to anyone with half a brain but we chose to ignore it hoping for a home run... securities need to walk the walk or they do not deserve your hard earned cash.
The very best of luck to you all!
I could not agree more.
I've been holding my BYSD position for ages now, at least 7 years.
It's been dead in the water so many times and honestly I've kept it because it offered almost no value to liquidate my position.
Now since the explosion of all the primary and adjacent industries surrounding Crypto and block chain this actually could post a return for some patient holders or stupidly timing lucky traders.
This announcement is honestly the only time I've been encouraged in a long damn time about this ticker. If the new CEO has the background his LinkedIn profile reflects, he could actually bring some structure and filings to the chaos and we could get to a pps that is too expensive to manipulate by day trading.
Current financial and regulatory filings are the only way BYSD will get any real growth or attention so I will be looking for that to be the true start of sustained upward momentum and as long as the OTC status remains the same any movement should be considered artificial.
All simply an old bastard's opinion.
GL to everyone.
Best thing that has happened so far to this stock.
I held through downward spiraling and rs.
Total loss, finally they zero after way too long being negligent and unethical.
This is the risk we all assume for max potental reward.
Happy to never have to watch this one limp on again.
Welcome to america!
One last note, BYSD has disclosure and not much going for profitability. But anyone who knows the world knows that today the most money spent is spent to purchase ideas... no more tangible than what BYSD has to offer. The purchase is made regardless, whether or not it comes to fruition time will only tell but im all in.
There are a lot of timid buyers of BYSD who sell on fear or to make insignificant profits, it doesnt matter because that strategy will leave them all without a re-entry point and out in the cold while the few longs like me clean up at maturity.
GLTA
BYSD to provide investors and general public with FREE level 2 quotes from their site over the coming weeks. If you are on signed up for the news letter you should have gotten the email about this.
Thanks for expanding on those points.
I am curious too for several reasons. Stocks that go inactive like this one normally have zero volume and also, for an individual to flip daily requires a margin account that in turn needs 25k min to keep open but the profits they would make are tiny. Plus i doubt any funds would have any interest in BYSD right now not because of volatility but because they are silent and it seems all short term investors have lost interest. I. Have shares in another micro that has similar activity but with wayyy more volyme sometimes 20m daily... it is perplexing.
This stock is clearly being squashed intentionally, to what end I do not know. Something is not right here.
OTCMKTS shows Aug 15 last short sale, volume makes no sense... I own some weird ones but this is weirder.
At least OTCMKTS dropped them to limited again, the more accurate categorization is refreshing.
True the qualifier gives them some leeway on disclosing the POs endgame but once passed the projected date if not completed, a status update perhaps with a new tentative projected date would be expected, however they have neglected thus far to produce that.
Bid shows 0.0001 / 20k blocks
A month passes after one of the boldest PRs ive ever seen a sub penny make which also claimed the PO would be finalized 30 days from the PR... no word from company... and this whole thing seems to not have raised any red flags!!
Seriously wicked funny, my growing suspicion that logic does not apply here is only being compounded.
None of the info you reference proves your claim. And you keep citing the same dead end PRs and filings the same way a promoter would regarding the supposed PO, equally as amateur. You WILL NOT know anything for certain until something definitive is released just like the rest of us. But feel free to say I told you so if you are correct it is certainly a possibility.
Now you are claiming that 99% of micro caps exist solely to trade their own shares, do not actually offer a product or service, and under some circumstances the P&Ds they execute are legal?
Thank you for that...... Interesting information.
BTW, no production = no operating costs, not rocket science how they survived.
So what you are saying is you believe with the information available now it is pretty much case closed? And no disclosure on the part of BYSD or SEC findings, if in fact they do investigate, will provide any insight beyond the conclusion you have presented?
That is good news.
Unfortunately only BYSD or the SEC can validate their claims by the companys behavior or the commissions investigation. We are not insiders and have no access to the facts.
I agree that was just an interpretive summary of their PRs not proof.
I guess the truth is not so important to some people here. Either way I hope definitive info comes out because the endless unfounded speculation is such a waste.
Make your findings clear and concise enough and I'm sure one of the moderators will sticky it and this BYSD conversation will be over once and for all.
Absolutely, the lack of proof is staggering. Give me some PROOF and supersize it!
Both sides of the BYSD debate need to manage their expectations. For the opposition, remember that crooks have a high success rate creating profitable entities... We call them financial institutions. For the longs like me, BYSD has NO MONEY!
Oh yeah the SEC, who not only provided me with no insight either they dismissed my request for an investigation. Trusting in oversight is nothing more than an idealist dead end.
I agree they made themselves out to be a supplier prior to the last rounds of PR, but answer this...with no money to pay for procurement and manpower how exactly would they have any level of production? Now if they do have a buyer and financial backing production would be feasible... In theory.
Sorry Aug 22
This is their only remaining strike, if they do not keep to their deadline AND release a definitive update regarding the alleged contract backed up further by financials to confirm it........ They are DONE the SEC will yank them but they will have no investors before that happens. They are no fools I am sure they know the stakes will be interesting to see how they play this, personally I am hoping to be rich by Sept but not holding my breath. GLTA shareholders, July 22 is the deadline, I am giving them till the 31st though they absolutely do not deserve it.
How about some BYSD history?
What was their IPO pps, and what is with the 2009 peak... How is that even possible?
Finally slowing down as it should, no info, and no revenue should = no volume.
Lol I wish it were dead but it's still actively traded every day... And still draws non shareholders like yourself to talk about it which I feel only lengthens it's life.
In the absence of proof humans create their own reality based on what they want the truth to be.
This goes for positive and negative arguments.
DD is a must but it will not always mitigate risk. How long did Enron fool both investors AND regulators? They still have not recovered the massive amount of money embezzled in that circus. Risk is a constant, but honestly performance not pr or filings is the only way to measure... You either are invested or not speculation without metrics makes nobody any profits.
Large companies on the big markets are not exempt from dirty actions to maintain and increase profitability, but what makes me shake my head is the longevity of companies like BYSD and their market manipulations with no revenue to speak of. It is like an open invitation for scum to incorporate, be publicly traded, and use it like their personal piggy bank. It is so wide open I almost don't blame them, they assume very little risk especially in contrast to the shareholders.
Lesson already learned personally. But this is a fascinating experiment to watch that will ultimately reveal how insufficient oversight of markets really is. There have been a lot of posts saying the SEC has got to be planning to shut them down. But so far waiting for that has been as fruitless as waiting for substantial info from the company. Still makes me grin both ways.
Now that they have established a proper communication pipeline lets see if they use it to honestly answer investor inquires. If they do they would certainly be a minority in their OTC tier.
Yup biggest pump I have ever seen whole 2 mil. Lol i own shares in a otcqb With a 47K mkt Cap, over 4 mil volume today over 6 mil yesterday avg is 2 mil... now that is a P&D 80% down.
Welcome to the game.
I am 100% for accountability, but as visible as this company is where is the SEC ffs?