Retired @ 52 "Life is Good"
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Sorry Madd, no video on your Twitter acct!
Ty...
With all the concern on INKW, would you say a stock like cbdd would be better? Just asking.
Ty...
Hey Maad, you should be leaving any minute so get a goin, lol. Make sure you video the new SIGN, DRIVEWAY and SOLAR PANELS (if you can see them from the ground) and any signs of change since your last visit! GL, don't get arrested, lol.
Ty...
Weed, I remember when he used to send an actual bottle of water, not a packet, lol.
Ty...
Weed, you're killin me with the Peter Poppoff phone number! Lenny should call and get the light brother, lol. I ordered a case but have not gotten any notice of how they're going to send it to S.F.
Ty...
The volume yesterday was 86.6kish. You can't make any money with that. What happened?
Ty...
I see it's another sell-off day here. PR's pump it so the money men can dump it, smh.
Ty...
An interesting article:
Forget GameStop and short sellers — the SEC says ‘OCMillionaire’ manipulated a worthless stock higher
Cannabis plants
Fool’s gold? The SEC alleges that a stock manipulator sucked investors into a worthless company by claiming it was about to become a big player in cannabis.
By MICHAEL HILTZIKBUSINESS COLUMNIST
MARCH 16, 2021 3:36 PM PT
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If you’ve been following the ludicrous saga of trading in GameStop shares, you’ve probably heard about how short sellers try to profit by manipulating stocks to fall in price.
But that’s not the only way people try to play the market.
The Securities and Exchange Commission just unveiled fraud charges against a trader allegedly trying to profit by manipulating a stock higher.
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He’s Andrew Fassari, a 33-year-old Orange County resident. According to the SEC, he staged a vigorous campaign in December using the Twitter handle “OCMillionaire” to suck penny-stock investors into shares of Arcis Resources Corp., which had been defunct for years.
Fraudsters can use online platforms (including social news aggregators, investment research websites, online investment newsletters, ratings websites, message boards, chat rooms, and discussion forums) to spread false or misleading information.
SECURITIES AND EXCHANGE COMMISSION
Fassari made $929,693 in his first round of trading in Arcis shares from Dec. 9 through Dec. 16, the SEC says in a complaint unsealed in Los Angeles federal court Monday. He bought back in on Dec. 17 and sold his entire stake the next day, sustaining a loss of $436,312.
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Fassari’s overall net gain was $493,381, the SEC says. The agency notes that Arcis never traded higher than about 5 1/2 cents while Fassari was buying, selling and promoting, and often traded for a few tenths of a cent.
The Fassari allegations are notable for a couple of reasons. First, Fassari’s scheme, as the SEC describes it, is in stock-trading terms pure comedy gold. The SEC says he posted 120 tweets to gin up interest in the stock, falsely claiming that Arcis was expanding its business in cannabis with the backing of “huge investors.”
Fassari claimed that his insights into Arcis were validated by contacts with the company’s chief executive, Raul Santo, including at least one conversation.
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As the SEC established, Santos was no longer associated with Arcis, lives in Macao and even had tried to get his name removed from records about Arcis maintained by OTC Markets Group. Santos told the SEC that the website Fassari cited as belonging to the company had gone dormant for nonpayment.
A woman wears a face mask as she walks past a GameStop store in Des Plaines, Ill., Thursday, Oct. 15, 2020. The latest battleground between the proletariat and the hedge funds serving the 1% isn’t on just any street. It’s on Wall Street. At least, that’s the view within an army of smaller-pocketed, optimistic investors who are throwing dollars and buy orders at the stock of video-game retailer GameStop. (AP Photo/Nam Y. Huh, file)
BUSINESS
Column: Explaining the Reddit-fueled run on GameStop
Jan. 26, 2021
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A Los Angeles federal judge froze Fassari’s assets at the SEC’s request on March 8. “Mr. Fassari denies any wrongdoing,” his attorney, Jessica C. Munk, told me. “He intends to vigorously defend himself and be exonerated of these accusations.”
The second reason to pay attention to the accusations is that they point to an inescapable reality on Wall Street: Manipulation of stocks by long investors — that is, those who own shares and want to drive their price higher — is much more common than manipulation by short sellers, who want to see prices fall.
Indeed, there’s a name for manipulation by longs — “pump and dump” schemes, signifying that those traders inflate the prospects of a company, then dump the shares on unsuspecting buyers. Penny stocks, which trade for risibly low prices, are especially vulnerable.
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A great deal of this activity takes place on internet message boards and other social media, which are where the SEC says Fassari worked his magic.
Those sites also provided much of the fuel for the run-up in GameStop and other “meme” stocks over the last couple of months — so much so that the SEC issued an “investor alert” in January specifically about the “significant risks of short-term trading based on social media.”
The SEC warned, “Fraudsters can use online platforms (including social news aggregators, investment research websites, online investment newsletters, ratings websites, message boards, chat rooms, and discussion forums) to spread false or misleading information.”
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Arcis, as the SEC states, had a history to conjure with. A 2011 company disclosure said it had been incorporated in Nevada in 2008 as Mountain Renewables, later changed its name and engaged in the business of trading and distributing petroleum products such as fuel oil.
The following year Arcis announced that its CEO had resigned in favor of a new CEO, Robert DiMarco, who among other attributes had been convicted of fraud in 2001 and been barred by the SEC “from association with a broker or dealer or from participating in the offering of any penny stock.” He left in 2013.
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Santos became CEO in 2015, left in 2016 and since then, according to his statement to the SEC, “I do not believe that anyone else has taken over the role of CEO.” Santos said that in late 2016 Arcis “ceased doing business and became a dormant shell.” In its final incarnation, the SEC says, Arcis was “engaged in the cannabis business.”
LOS ANGELES, CA - JANUARY 27: A GameStop at 5533 Sunset Blvd. is photographed in Hollywood on Wednesday, Jan. 27, 2021 in Los Angeles, CA. (Dania Maxwell / Los Angeles Times)
BUSINESS
Column: GameStop has spawned 1,001 theories, most of them wrong. Here’s what’s right
Feb. 1, 2021
In the words of Bloomberg commentator Matt Levine, “Arcis Resources is whatever you want it to be, a blank screen on which you can project anything.... It is hard to shake the impression that Arcis has spent the last decade as a pure plaything for penny-stock gambling and scams.”
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Twitter records show that OCMillionaire was a relentless promoter of Arcis through much of December. On Dec. 9 he tweeted that the company had completed a cannabis processing facility of 1 million square feet — though he didn’t know where it was — and the next day that it was poised to become “the most known cannabis company in the U.S. market.”
The Twitter account posted purported emails from Santos supposedly verifying that the company’s business was about to be revived. Santos told the SEC that the emails were fabricated. Claims on the Twitter account about conversations with Santos, he said, were false: “I do not know Andrew Fassari and, to my knowledge, I have never communicated with him.”
There’s more detail in the SEC’s complaint, but that should give you the flavor of its case. And it should put meat on the bones of the SEC’s warning about basing your stock trades on what you read on internet trading sites: When you see a stock being talked up by an anonymous Twitter account with nothing more than a picture of a sports car as proof of its “millionaire” credentials, head for the hills.
BUSINESS
That image didn't work, lol.
Ty...
The thing that really scares my about well water is that most areas out on the East coast have septic systems that leach all that crap (literally) back into the artisan wells, lol.
Ty...
What the hell, I'll buy 75 million just to see if I can lose money, lmao.
Ty...
So you spent 5 million $$, lol.
Ty...
So now he had 36 million shares, very confusing, please clarify who you bought 20 million shares from!
So how much share of the gold does the company get to keep?
Ty...
So all the sunken treasure bs with INNO was just that, lmfao.
Ty...
So I decided to order 1 case of BeWater just to see if I get it. I'm still wondering just how much it will cost to deliver it to my S.F., Ca. address, lol. I will taste it and probably use it for my dog, even though he likes his Crystal Geyser, lmfao.
Ty...
Still there appears to be a lot of long term debt to pay down.
Ty...
What's going on here. I don't want to start a RIOT(scalped, lol), but I thought the pps would be going up with all the good news, anyone?
Ty...
Not me. Even though I have gotten both of my vaccinations, I'm not going to sit in any theaters right now. Next year maybe, if the Covid is under control.
Ty...
Nice...
How's your INKW kron doing weed?
Ty...
Gee, what's happening? The silence is deafening! Everyone still not sure?
Ty...
Is Paul Tidwell still involved with this. He was ceo when it was Innocap. Or did he sink to the bottom of the sea going after one of his bs ship wreaks?
Ty...
Ah weed, you know that's not true. Madd is doing quarterlies today.
Ty...
Old Lenny sure raised a lot of money for a place Mammoth paid $750k for! It better have gold plated machinery and executive bathrooms. If MaddAusie goes up there tomorrow, there should be a new sign, paved road and some evidence that their up and running!
Ty...
Good call ed. GJ
Ty...
I don't think Lenny can take another hit and 7th failed company! I think that's why he looks so stoned lately, lol. I hope you were able to make some of the Ink money back ed. GL
Ty...
I have to ask why you think they will have to cover by tomorrow? Do you believe they will post a profit, lol? If I had a short position on this, I wouldn't take it off until it hits .0015! I have never shorted any stock but I do scalp /rty & /es both ways. GL
Ty...
I'm just going to watch and let Madd do his thing, lol. GL, your going to need it!
Ty...
So, it's been 29 days since the Emerging Growth Con. and not 1 PR from Lenny! With all the shat hitting the fan and the pps heading down the slope to gray sheet time, why can't you see the writing on the wall! I dumped my last shares and now the many of you who think Lenny is your hero, will find out just what you will get in the end, f*#@^*!!! As on this writing the pps is .029 and falling! smh.
Ty...
I just got back from a great ride and checked the Trades today and saw someone is buying 43 shares at a time, lol. It cost me more for gas in my bike today, lmao.
Ty...
No, No, I've never been down under and I've never thrown any shrimp on the barbe. Can the pps even get to 5 cents again, let alone 25cents, lol.
Ty...
weedtrader, I'm only 67 and you know that life starts at 160mph, weeeeeeeee!
Ty...
Indodax, Capain Investor, Not Kenny Rodgers and weedtrader420 are all PUMPERS of this stock, trying to gain back all the money they lost! By the way, I have never shorted anything other than /rty & /es futures, if any of you know what they are. That's where the real money is made boys, girls, others, choo-choo the trains leaving, lmao.
Ty...
Don't forget fudge packer, lmfao!
Ty...
Has anyone looked at the INKW,20 day chart lately? DIVE, DIVE, DIVE!
Ty...
I've made my fortune with real stocks, not penny stocks. I only played with them for amusement. I just bought a Ducati Monster (1200cc) last month and am going riding the canyons near my ranch in the beautiful foothills of Livermore. By the way, I won't be drinking BeWater from wells with dead things in it, but I will be drinking Crystal Geyser, lol!
Ty...
Yes, but I dumped a ton when the pps started dropping.
Ty...
I still have a few of the refillable cases with Lenny's INK. I still think it was that cheap Chinese Ink you could buy back then from China!
Ty...