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I don't remember everything either, but I did look at that day a lot afterwards. It wasn't one quick swoop down. It opened high at .0045, then unexpected drop... and orders filled at .0028, then .0024... then a quick, brief drop to .002. After that, most of the orders filled at .0022 in the afternoon. It ended the day by jumping up to .0034 on a tiny 7k trade.
Either way we still agree that dilution was the most likely explanation?
cmon 2 mil shares at .002 is not a fat finger trade. It stayed there most of day up to last minute when 7k was bought at .0034 to paint it. Don't make it personal.
POS Results - Spring 2009 - Week 11
Win-----10.4%------CNO-------1.35 - 1.49---------Mirre
Pla-------1.6%------GMET-------.62 - .63-----------clearcoated
-23.8%-----COIN-------1.01 - .77-----------rev chris
-2.6%------CTIC---------.39 - .38-----------Adelheida
-6.8%------ASTM-------.365 - .34----------The_Fast_One
Points
15 Mirre (4w 1p 1s)
13 The_Fast_One (3w 2p)
9 clearcoated (1w 3p)
6 Adelheida (1w 1p 1s)
4 rojosi1 (1p 2s)
0 rev chris
$$$$$
21372 The_Fast_One
18832 Mirre
7624 rev chris
7159 rojosi1
4840 clearcoated
3929 Adelheida
Congrats to Mirre on picking another winner.
That's a really short timeframe, and you got to include Feb 12th in your pattern. Plus there isn't compelling volume on right shoulder or break of neckline. So I don't see it.
Feb 12th could be the head in a much longer pattern... that may be forming.
TURF Picks - Week 12
GL all
POS Picks - Week 12
GL all
Where is that reverse head and shoulders pattern? Where do you see the head and left shoulder? What level is the neckline?
OK things may be different this time. But the last 6 or 7 times prices spiked above the upper Bollinger Band in their 3 year chart
http://stockcharts.com/h-sc/ui?s=CHBO&p=D&yr=3&mn=0&dy=0&id=p94610548388
It was followed by a sell off. We're up 75% on low volume since siaubas posted he couldn't get filled April 3rd. The bid has been building since Apr 3rd, and it's not going to take much for someone to lock in that profit. 2 mil. shares got filled at around .002 Feb 12th. Since that dilution day on Feb 12th, there has been many $20 buys at ask which kept the spread wide and hard to buy.... but that action steadily raised the bid. That's why a few weeks ago siaubas and I were saying PPS seemed propped up. My take is it's been a few people in a rush to average down since Apr 3rd.
8 month: http://stockcharts.com/h-sc/ui?s=CHBO&p=D&yr=0&mn=8&dy=0&id=p70548382219
Otherwise I totally agree with your sentiment, and the market cap is extremely low. I'll say it again that they need some real good news to turn it around for real... and that's really my hope. So I too look forward to those EFFORTS TO DEVELOP MARKET RECOGNITION FOR OUR STOCK.
That sounds great, but realistically expect dilution. It is the easiest way for them, they've done it repeatedly for years, and they just said in 10-K it'll happen again. That's why they did the r/s... so they'll have more room to issue.
So I'm expecting it, I just hope that it comes with some blockbuster news. That's my hope.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36716606
BTW those gaps started when you posted April 3rd you couldn't get filled! Since your post about $4950 traded... 750,000 at .005 and 200,000 at .006. Looks like you got yours filled.
POS Field - Week 11 update Wednesday
COIN-------1.01 - .80-----------rev chris
CTIC---------.39 - .36-----------Adelheida
ASTM-------.365 - .355--------The_Fast_One
CNO-------1.35 - 1.29----------Mirre
GMET-------.62 - .60-----------clearcoated
POS Field - Week 11 update
COIN-------1.01 - .83-----------rev chris
CTIC---------.39 - .40-----------Adelheida
ASTM-------.365 - .37---------The_Fast_One
CNO-------1.35 - 1.41----------Mirre
GMET-------.62 - .59-----------clearcoated
all in on vol
POS Field - Week 11
COIN-------1.01----------------rev chris
CTIC---------.39----------------Adelheida
ASTM-------.365---------------The_Fast_One
CNO-------1.35-----------------Mirre
GMET-------.62 pending------clearcoated
TC at 4.65 close
CC
COIN at 1.01 close
CC
siaubas, curious what's your thought on that spike down on Feb 12th? 3+ mil shares traded and it dumped down to .002 where a lot of orders were filled around .0022. Last trade that day was a paint at .0034.
POS Results - Spring 2009 - Week 10
Win-----72.2%------MGM------2.70 - 4.65----------TheFastOne
Pla-----20.4%------GMET-------.54 - .65-----------clearcoated
Sho-----11.4%------CTIC--------.35 - .39------------Adelheida
5.0%--------DXO-------3.02 - 3.17----------Mirre
Points
13 The_Fast_One (3w 2p)
12 Mirre (3w 1p 1s)
7 clearcoated (1w 2p)
6 Adelheida (1w 1p 1s)
4 rojosi1 (1p 2s)
0 rev chris
$$$$$
22057 The_Fast_One
17795 Mirre
10000 rev chris
7159 rojosi1
4679 clearcoated
4185 Adelheida
Great week for us! Congrats to Fred on a Rocket contender with 72% for MGM. Great Pick.
TURF Picks - Week 11
GL all
POS Picks - Week 11
GL all
They will need to raise cash soon. That is certain. You agree?
Last summer when they got r/s approved, management owned 6.2%... and they rounded up consent from 51.7%. For which they add "No consideration was paid for the consent." I really wonder how Monarch Capital Fund Ltd. made out from this deal as they were on record as owning 25% at that time???
http://www.sec.gov/Archives/edgar/data/1190132/000114420408043039/v121406_defr14c.htm
So what you're implying then is CHBO is once again making an “off market” deal to raise the funds they need to keep going.
Legitimately, all we need is real news of success...or real volume preceding that news. We don't want another off market deal that dumps on us.
POS Field - Week 10 update Wednesday
GMET-------.54 - .58-----------clearcoated
CTIC--------.35 - .36------------Adelheida
DXO-------3.02 - 2.70----------Mirre
MGM------2.70 - 2.63----------TheFastOne
siaubas, you're assuming the BOD issued themselves 20-30 mil shares and omitted reporting it? 1. Why would they want to hide it? 2. They have 2 business days to file their Form 4's.
As of 12-31-08, 10-K, Item 12, management ownership post-r/s
everybody less than 1%
Wang at 265,055
pg. 49
http://www.sec.gov/Archives/edgar/data/1190132/000114420409017436/v144703_10k.htm
Look at last year's 10-K, management ownership pre-r/s
the group was at 17.35%
Wang at 26,505,530
pg. 44
http://www.sec.gov/Archives/edgar/data/1190132/000114420408017280/v107906_10ksb.htm
After r/s BOD, owners control less than 1%. see pg 49
They just issued 32 mil. shares this year. "From January through March 2009, the Company issued an aggregate of 32,189,086 shares of common stock to the holders of the Secured Convertible Promissory Notes"
"As of December 31, 2008, we had approximately $1.5 million of debt principal outstanding and overdue on the Notes secured by all our assets. We do not currently have the ability to service this debt in cash so we are required to pay off the debt in shares of our common stock."
They have $125,000 cash and last year needed $700,000 to operate. Plus debt to pay off. I don't see how CHBO will avoid dilution.
"As of December 31, 2008, the Company had cash and cash equivalents of $124,368 and working capital deficit of $2,175,061, as compared to cash and cash equivalents of $1,317,556 and working capital deficit of $1,157,189, respectively, at December 31, 2007. The decrease in our working capital was attributed to continuous operating losses incurred.
For the year ended December 31, 2008, the Company used approximately $710,607 of cash for operations as compared to approximately $1,042,190 for the year ended December 31, 2007, primarily attributed to lower operating expenses or losses incurred in 2008."
"On December 13, 2008, another “event of default” occurred and is continuing in that the Notes matured on that date and the Company failed to make full repayment for outstanding principal and interest on the Notes. These events of default have not been waived by the investors and are continuing. The Company intends to endeavor to satisfy the payments overdue under the Notes by delivery of shares of its common stock."
CHBO 10-K http://www.sec.gov/Archives/edgar/data/1190132/000114420409017436/v144703_10k.htm
"we are required to issue an aggregate of 457,801,270 additional shares of our common sock to repay the Note."
http://www.sec.gov/Archives/edgar/data/1190132/000114420409017436/v144703_10k.htm
CHBO
CHBO 10-K December 31, 2008
http://www.sec.gov/Archives/edgar/data/1190132/000114420409017436/v144703_10k.htm
41,736,174 as of March 27, 2009
POS Field - Week 10 update
GMET-------.54 - .56-----------clearcoated
CTIC--------.35 - .4595---------Adelheida
DXO-------3.02 - 2.73----------Mirre
MGM------2.70 - 2.40----------TheFastOne
all in on vol
POS Field - Week 10
GMET-------.54--------------clearcoated
CTIC--------.35---------------Adelheida
DXO-------3.02---------------Mirre
MGM------2.70 pending---TheFastOne
CHBO 8-K Nov 11, 2008, filed 3-30-09
http://www.sec.gov/Archives/edgar/data/1190132/000114420409016692/v144265_8k.htm
On March 25, 2009, the Board of Directors concluded, based on the recommendation of management, that the Company’s consolidated financial statements contained in the Company’s Annual Report on Form 10-KSB for the fiscal year ended December 31, 2006, in the Annual Report on Form 10-KSB for the fiscal year ended December 31, 2007 and the Amendment thereto, and in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2008, should be restated to correct these errors and that the financials as previously filed should no longer be relied upon. Management has discussed this matter with the Company’s independent registered public accounting firm. The Company intends to file amended Annual Reports on Form 10K/A for the fiscal years ended December 31, 2006 and 2007 and an amended Quarterly Report on Form 10Q/A for the quarterly period ended September 30, 2008 as soon as practicable wherein it will be revising the financials in the manner set forth above. Our auditors shall also be providing us with reissued dual-dated audit opinion on the financials for the fiscal year ended December 31, 2006 and 2007, respectively.
In addition to the impact of these errors on the consolidated financial statements, management considered the impact this error has on the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures for the periods being restated. Management believes that the Company's internal controls over financial reporting and disclosure were ineffective.
The Company intends to implement measures to ensure that errors of this nature do not occur in the future.
CHBO 10-Q/A Sept 30, 2008 amended, filed 3-30-09
http://www.sec.gov/Archives/edgar/data/1190132/000114420409016744/v144304_10qa.htm
10-K/A Dec 31, 2007 amended, filed 3-30-09
http://www.sec.gov/Archives/edgar/data/1190132/000114420409016751/v144303_10ka.htm
CHBO 10-K/A Dec 31, 2006 amended, filed 3-30-09
http://www.sec.gov/Archives/edgar/data/1190132/000114420409016748/v144302_10ka.htm
DROOY at 8.83 close
CC
GMET at .54 close
CC
POS Results - Spring 2009 - Week 9
Win-----0.0%---------DXO--------3.02 - 3.02-----------Mirre
dnq vol-------ECTX--------.25 - .33------------rojosi1
-22.9%------GMET--------.70 - .54------------clearcoated
dnq price---TGB---------1.04 pending-------The_Fast_One
-2.8%--------IMOS---------.36 - .35------------Adelheida
Points
12 Mirre (3w 1p 1s)
10 The_Fast_One (2w 2p)
5 clearcoated (1w 1p)
5 Adelheida (1w 1p)
4 rojosi1 (1p 2s)
0 rev chris
$$$$$
17298 Mirre
14835 The_Fast_One
10000 rev chris
7159 rojosi1
3042 Adelheida
2642 clearcoated
Mirre got Win points for breaking even, and still maintains solid $$$$$ lead. TGB was actually the big winner but didn't hit Fred's pending start. I need a week like we saw in quarter's derby where I went from $970 to $18k in a week.
TURF Picks - Week 10
GL all
POS Picks - Week 10
GL all
Congrats. Nice move today.
CC
POS Field - Week 9 update Wednesday
ECTX--------.25 - .41-----------rojosi1
GMET--------.70 - .62------------clearcoated
TGB---------1.04 pending-------The_Fast_One
IMOS---------.36 - .39------------Adelheida
DXO--------3.02 - 3.06-----------Mirre
ECTX needs vol
It's been like that last 4 weeks. Seems propped up. At first I thought it was someone setting up to unload. Although maybe there is good news coming.