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It is China Telecom that adds validity to the news release , inthat China Telecom would move quickly to deny the " deal "
with RMD if it wasn't true . Powerhouse companies such as China Telecom do not frivolously permit just anybody to claim ' deals ' without getting express permission from the Big Wigs to do so .
Now , if RMD had made a deal with Wyle E. Coyote's Acme company instead of China Telecom then of course the skepticisms would have merit . That said , the skepticisms are meritless .
China Telecom .....POWERFUL !!!!!
Renee
To bite the worm of incite is to bite the HOOK of the antagonist . They win .
Decided to pick up 8 big ones @ 2 on impulse today . Think it was intuition that RMDM is serious about cancelling much of the O/S , and if true then THAT will move the PPS convincingly .
Renee
Universal has OIL ....now , and more to be pumped . MM's are non-discriminatory ; when ANY stock has volume , whether the volume is from investors buying the fundamentals or pumpers & dumpers buying the hype on zippidy-do-dah nothing , the MM's can and will capitalize .
UVSE has the volume . The MM's will capitalize .
MM's only care about VOLUME . Surely everyone has observed volume stocks running . Well , it's because MM's create and fuel the drive with upticks . MM's also control downticks and panic selling to get their covetted VOLUME . They control it all !!
It is incumbent on Universal to provide the fundamentals to
support the higher share price , but on a typical OTCBB / OTC run the MM's couldn't care less about silly incidentals called fundamentals .
Again ...Universal has OIL , OIL , OIL , and the MM's and players will run UVSE when the time is right .
Renee
Nascow ...flattery will get you everywhere , heh heh . Mm's are tantamount to gods who can do whatever they want with impunity on the minimally supervised OTCBB and on the
UNsupervised OTC Systems ( by the SEC ) . So , to quote the inimitable Sarah , " you betcha " the MM's sell shares into a run that they control , using real shares or NSS doesn't matter one whit to them , and then they drop the PPS on horse hooie reasons ( back-fill / fill the gap / charting averages /
weak hands selling / big boys accumulating / whatever ) .
That way the scurrilous MM's not only make their commissions but they make the spread on the NSS that they used ...FREE money to the gods .
At least now the SEC has been pressured to regulate ALL stocks from the outrageous abuses of naked short selling , but the MM's still have 3 days to do what they do best ....manipulate stocks to enrich themselves .
The SEC could have intervened years ago but they didn't , so IMO the SEC is the root of evil in the stock markets .
Regarding UVSE it is quite likely the MM's will run the bajeebers out of the stock , hopefully on fundamentals , but watch THEIR momo and retracement tactics on the way north . Locking in profits on the way up while holding a core position is the best way to protect oneself .
Renee
3rd post and 3rd boardmark . It is time for the OTCQX to gain better recognition , to instil confidence in higher tiered Pink Sheet / OTC stocks that had been lumped together with the under-performing and scammy OTC stocks .
Like separating the wheat from the chaff .
Thanks for setting up this board , FuturesJackal !!
Renee
To bite the worm of incite is to bite the HOOK of the antagonist . They win .
Agreed . About 4 or 5 years ago the NASD ( now FINRA ) proposed the BBX market for all OTCBB and OTC stocks . The BBX would have a trading system that would eliminate the Market Makers from making a market for the BBX stocks . BBX stocks would survive or fail on their own merits and ALL trades for stock would be from REAL supply to REAL demand from retail investors with no more manipulative practices from the MM's .
The MM's / Brokerages complained en masses to the SEC that their collective livlihoods would be irreparably harmed under the BBX that would eliminate their making a market in OTCBB and OTC stocks .
I have crystal clear recollection that the MM's promised " FAIR " trading practices on the OTCBB and OTC if the SEC would
deny the NASD's formal request for the BBX .
The SEC capitulated to the MM's and the NASD's application was denied .
Since then the MM's have utterly destroyed the OTCBB and OTC Systems with their outrageous manipulations .
Readers can Google the BBX and NASD / Finra for further information .
UVSE is just one of the many victims .
Renee
To bite the worm of incite is to bite the HOOK of the antagonist . They win .
A perfect and complete post , Boomer . EOM .
Renee
Yup , Dana was pressssshius . EOM
Thanks , Steven . I'll check the TV listings .
Renee
I won't miss Tina Fey's Sarah rendition tomorrow night . It will be a hoot .
I remember howling at Dana Carvey's impressions of GHWB but Tina Fey has Sarah down to a science .
Popcorn time tomorrow night .
R.
My bad . Sorry . EOM .
Monday , October 13th , Columbus Day . U.S. Markets closed .
http://www.secfile.net/SEC_calendar.htm#Major_EDGAR_Filing_Deadlines_for_Filers_with_December_31_Fiscal_Year_End
I know it sounds odd ....even funny about SMAS being a Pink Sheet blue chip , but SMAS has far more potential to go way up in value over all of the formal Blue Chips that are going down in value .
So , SMAS .....a personal blue chip .
Renee
You ain't kidding Boomer ....TGIF , and hopefully the market slaughter will end today .
I am so glad that I liquidated my ' BLUE CHIP ' stocks a few weeks ago . SMAS is my safest stock .
SMAS , a Pink Sheet Blue Chip .
Renee
Excellent , hands-on DD , Znstated . Super pictures .
Major thanks ZNStated !!
And thanks to Boomer for putting the great pics on this board .
In this treacherous market my money is quite safe with SMAS .
TGIF ....really !
Renee
Sterling ....agreed , and thanks . There are so many variables to the WAMU case that could expedite their re-organization , even to the point of rescinding the Chapter 11 application IF Congress would re-capitalize the Bank and the FDIC seizure was revoked .
It is critical to note that WAMU was viable and was well capitalize with billions of dollars in CASH despite the $1.6 billion ' run on the bank ' . The FDIC's reasoning that WAMU would run OUT of liquid cash if the run on the bank continued was extremely pre-mature in view of Congress's imminent BAILOUT plan to " capitalize " banks .
If the Chapter 11 goes to full re-organization it will be at that time the Judge will rule on the common and preferred equity , and under BK Laws the common holders always come last in ANY BK .
As your Law Firm contacts confirm , it is pre-mature to presume anything at this early juncture .
One whiff of Congressional involvement in the FDIC seizure and colluded sale of WAMU's Bank Accounts to JPM and the stock will go parabolic ....IMO .
Renee
Kuby ....ethics has nothing to do with protecting common shareholders in any Chaptered Bankruptcy ....EVER !!
Specifically to WAMU it will likely take a few years to present an acceptable re-organization plan to the BK Judge , which means the common shares will trade until that time .
It is my faint hope that the FDIC seizure is challenged and reversed because Washington Mutual was 100 % viable in ALL aspects . The run on the bank could have easily been resolved with a cash infusion from Congress which the FDIC knew was imminent . The FDIC seizure was pre-mature , arbitrary , colluded with JPM , and thereby prejudicial and unwarranted .
I want Congress to get involved NOW .
Renee
The low share price is a reflection of investors' fears that the common shares MAY be cancelled one day . However , share cancellation usually is the final step of a bankruptcy re-organization and can trade for several years until the re-organization is approved by the BK Judge .
Only the BK Judge can cancel an equity of any BK company .
Renee
LarryBruening : JPM's offer to buy WAMU was considered to be too low so WAMU declined . So , JPM stole WAMU under apparent collusion with the FDIC .
IMO , Congress should get involved and reverse the FDIC seizure by capitalizing WAMU which would negate JPM's fire-sale purchase of WAMU's assets without the liabilities .
The run on the bank was for approximately $1.6 billion and was mere days away from WAMU qualifying for Congressional assistance .
If the FDIC's pre-mature and apparently prejudicial seizure of WAMU could be reversed by Congress then the Chapter 11 BK would also be cancelled .
As I see it .
Renee
Well , singlecellmind , I guess an amoeba would think like that .
Sentient investors in WAMU who have a few billion more brain cells think otherwise . I'm one of them .
hahaha , Rooster ...." no addadictomy for the girlys " ....hahahaha .
Started my day off with a good laff .
Renee
Appreciate the info , Kam , which suggests that SMAS may be buying back restricted shares under pre-arrangement with a MM .
It does not appear that retail investors are selling .0001's with all of the positive anticipation for SMAS , and it also appears that no-one is buying .0001's of any noticeable amounts , therein the hypothesis that SMAS is buying back .
If that hypothesis has merit then that is good for shareholders .
Renee
FWIW : I have had a GTC order to buy 15 million @ .0001 since yesterday and not one fill , so , it is quite possible the company is buying back ....most likely restricted shares under pre-arrangement with a MM .
However , the T/A must confirm .
Renee
Pain relief without addictive remedies for so many thousands of sufferers will improve their lives for the rest of their lives . The auxillary benefits of being pain free will lead to happier and more productive lives .
Investors have a small part by supporting the company's efforts to make their goals happen . We own stock in the company's spirit , not just their trading equity .
May the stock skeptics never have to endure chronic pain before appreciating Somatic for being more than just a stock .
Renee
Agreed , Bobky . It is the anticipation of a military contract that I doubled up yesterday .
OT : Thank you , Rick . In my thoughts !
Renee
Hahaha.....I must have heard that word a dozen times today by feeble minded teens , but boyz-oh-boyz there is a PERFECT time for that word and The Economist nailed it . Made me laff .
Better punch than saying it when ya stub your toe .
Renee
A complex dilema . I have listened intently to the pro-bailout and con-bailout arguments and regardless to the merits of those opposing arguments the indecision has inflicted global market losses that will likely be many times worse than the U.S. Gov't's poison pill remedy .
Effective immediately the SEC should ban all short selling in all stocks and the U.S. Congress should immediately authorize
Banks to raise their Outstanding Shares for immediate sale to generate cash money , thereby providing cash liquidity until the Gov't can implement a viable Act . The Gov't could buy as many newly created O/S shares as necessary to support the equity , to equalize the demand factors to the increased supply factors .
WaMu , Wachovia , and a host of other publicly traded Banks could have averted being under-capitalized as the infusion of cash for NEW O/S would have countered the run on cash , and thusly circumvented FDIC interventions ....er ...I mean INTERFERENCE . This pandemic is as much about cash (il)liquidity as it is about bad loans , as I see it .
Renee
Excellent confirmation , Boomer . Thanks ! EOM .
Reply : Mordicai : I agree that WaMu may try to appeal the FDIC's seizure which superficially appears to be pre-mature , but I have yet to observe any successful challenge to the OCC or the FDIC seizure of any Bank , and YES , the seizure was absolutely undertaken to protect the depositors and to protect the insurer , ie the FDIC . Shareholders are always expendable ....ALWAYS !!!
There had already been a ' run on the bank ' with depositors withdrawing about $1.6 billion in cash . The FDIC calculated that the ' run ' on cash would accelerate to the point of WaMu running out of liquid cash , precipitating a complete Bank failure and subsequent FDIC seizure anyway , which would have then triggered their insurance guarantees of $100,000 per account holder .
By placing the chequing / savings accounts and all other WaMu assets into JPM's control the FDIC circumvented WaMu's imminent failure of not having adequate cash to meet the cash withdrawals .
Any appeals by WaMu would be denied , IMO , because the regulations governing banking mandate that a Bank must be adequately capitalized in CASH to meet ALL cash withdrawal demands . The threshold of being adequately capitalized was broken when depositors withdrew ~ $1.6 billion .
The FDIC had no choice , IMO , but to seize WaMu . Had WaMu been allowed to fail then depositors with deposits exceeding $100,000 would have lost the UN-INSURED excesses .
I have been through this before with a seized Bank 7 years ago , so I studied hundreds of pages of FDIC and OCC regulations to comprehend the magnitude of Bank seizures .
Just watch how ALL depositors in ALL Banks reduce their cash deposits to $100,000 to protect themselves .
In my studied opinion , FWIW ,
Renee
Reply : Big Baller : Now that the Ch. 11 has occured the SEC should remove the trading halt , but it would be presumptuous to guess when that will occur .
Best of luck , BB .
Renee
To my understanding when the FDIC seizes assets of a bank it is virtually the same as a Chapter 7 liquidation BK , even though the actual BK Filing may not have been filed , being moot , in my layperson's opinion .
Chapter 11 is for re-organization , which WaMu cannot conduct because all of their assets have been sold to JPM , consequently there is nothing of assetable value to re-organize .
Nonetheless , a stock in Chapters 11 or 7 bankruptcy can still trade for several years unless / until the SEC revokes registration and trading is ceased . Only a Bankruptcy Judge can cancel or assign Equity .
Renee
Upon this verifiable information I became a shareholder yesterday .
Thanks to the task oriented members of this board who confirm my decision to buy in .
Renee
FDIC to Seize WaMu and Sell Deposits to JPMorgan
The Federal Deposit Insurance Corp will seize Washington Mutual and sell its deposits to JPMorgan Chase for an undisclosed sum, CNBC has learned. The deal is expected to be announced during a Thursday night conference call at 9:15 p.m. ET.
Federal regulators have been heavily involved in putting together the transaction, which comes as WaMu is besieged by a huge number of bad mortgage loans on its books.
The exact details of the deal aren't known as yet, but JPMorgan [JPM 43.46 2.96 (+7.31%) ] is expected to acquire WaMu's deposits and branches, as well as other operations. The deal isn't expected to expected to result in any hit to the bank-insurance fund.
Washington Mutual [WM 1.69 -0.57 (-25.22%) ] had been trying to sell itself the past two weeks. Interested banks included Citigroup [C 19.41 0.45 (+2.37%) ], HSBC Holdings [HBC 81.59 1.79 (+2.24%) ], Toronto-Dominion Bank [TD 62.00 --- UNCH (0) ] and Wells Fargo [WFC 34.12 -0.15 (-0.44%) ].
WaMu came under further pressure to sell Wednesday when Standard & Poor's slashed its credit rating deep into "junk" territory. The thrift replaced its chief executive this month after suffering losses totaling $6.3 billion over the previous three quarters.
It has projected $19 billion in mortgage-related losses through 2011, but analysts have said credit losses could reach $30 billion.
Complicating the sale process is what to do with the thrift's $227 billion book of real estate loans, more than half of which consists of home equity loans, option adjustable-rate mortgages, and subprime mortgages.
It was not immediately clear how much of WaMu's troubled loans might be eligible for Washington's $700 billion financial industry bailout program.
WaMu has a significant presence in California and Florida, two of the states hardest hit by the nation's housing crisis. But its 2,239-branch network could appeal to many lenders looking to expand in retail banking, especially in the western United States and the New York City area.
WaMu ended August with $143 billion in retail deposits -- roughly triple the size of the entire Federal Deposit Insurance Corp fund that backs customer deposits. It has also said it expects to end the quarter with a "well-capitalized" status well in excess of federal minimums.
© 2008 CNBC
Cheeses of Nazareth ....this is brutal . EOM .
I took your counsel , Deborah , and went for a walk in the park with my 4 legged trusty side-kick , Beans .
The remaining GITH shareholders should recognize that GITH is now returned to hollow shell status with a $2 million Yorkville Advisors outstanding loan .
From my email interactions with E.S. Racheff to my understanding and paraphrased in my own words :
Eric Racheff had two viable companies which were ready to be acquired into Stratton Corp , but ONLY if Y.A. re-wrote their loan with reasonable terms for the NEW company's equity holders .
Y.A. had a choice to re-price their conversion price to a higher valuation which would have effected LESS dilution to shareholders , and Y.A. WOULD HAVE received their stinkin money from the commensurately higher equity valuation of the new company / ticker . However , in Y.A. fashion the DUMB BUNNIES wanted a floorless conversion price which would have crippled any upward valuation for the new equity of Stratton Corp , and the O/S would have ballooned into the multiple billions , creating brutal losses for hundreds of new shareholders in addition to the losses incurred by the current shareholders . The PPS would have returned to .0001 indefinitely .
Y.A. could have gotten their $2 million bucks under reasonable terms but they now will get ZERO dollars because GITH will interminably remain as a hollow shell with NO revenues and most likely NO more suitors for the hollow shell .
Brilliant , PorkVille .....simply brilliant .
E. Racheff made the difficult decision to not perpetuate further losses for many more future shareholders , as Y.A. would have diluted GITH into toxic oblivion . The losses were contained to current shareholders ....not good for us ....but no others will endure losses from Y.A.'s inhumane dilution practices .
FWIW I lost 84 % from my average of .0006 to my sell out today at .0001 . Ouch . But ....so have FRE , FNM , AIG , LEHMQ shareholders who bought shares over $60.00 .
So be it .
Renee
Upon reading this filing I withdraw my support for this stock .
I am very disappointed .
Renee
Mr. Racheff's motto is ' Never Give Up ' against the monster beast , Y.A.
Yup ....Y.A. is the big bird , a.k.a. a vulture .
Isn't CEO Racheff cute ....heh heh ....well , the back half of him that we can see .
http://homepage.ntlworld.com/graham.a.newman/stork.htm
Exactly , Stocksniperz , CEO Racheff does write back , unlike MOST other CEO's who are masters of the ' hide and seek ' game .
I have written 4 letters and I have received 4 responses .
Mr. Racheff has my respect and support !
Renee
Koolmc ....to my understanding and with my full support , CEO Racheff should not institute the new corporate name and ticker UNTIL he satisfactorily
resolves the Yorkville Advisors encumbrance against the GITH ticker / Global IT Holdings Inc .
There would be no productive benefit to prematurely changing the domain name and ticker until Y.A.'s encumbrance against GITH is resolved with a written agreement that ensures reasonably affixed dilution that investors will support , in contrast to Y.A.'s atypical behavior of wanton dilution that would cripple any growth in the new company's market capitalization .
ADDED EDIT : Should CEO Racheff be successful at re-writing the Y.A. GITH loan that is acceptable to public investors , I envision a much , MUCH higher PPS for the subsequent , new ticker .
As I see it .
Renee
JimsZ ....I think the lower B/A on very low volume is one retail holder selling out . Too many Pink Sheet investors need
frequent news releases to satisfy their ravenous appetites for daily flipping , so IMO some retail holders will sell out of the stagnant GITH to move on to the next ' news ' play .
I have confidence in CEO Racheff to release only material event news whenever he is able to do so .
Renee