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Andy...MLON was a pick by you right? You go girl!
LOL!!!!!!!!!!
"2many, it sounds like u work for e-turd."
Nope, and never did in the past. Why would you think I did?
What I was commenting on is simple common sense.
You did look at you account statements? You should have known they were negative. I'm sure you had notices on the website account page.
Bottom line, you failed to fund a negative balance. Etrade closed you out. Next time you might want to pay attention to your account.
I agree with one thing you have a beef with.
"the stupidest part is they sold it for 0$ so it didn't even cover what i owe them"
The problem is that the process is mostly systematic in that when your account goes negative on the day of settlement or shortly after, a process is in place to automatically sell at market. They received a bad price. You may be able to talk to them about this if they made the market. If they used another market maker your out of luck.
Not sure if Etrade still has market makers and if they do they may not make markets for PYCT.
In any event, if you bought at .0002 last week and tried to sell the same day you probably wouldn't have received more than .00005 on the bid to sell as there is still virtually no bid for the stock.
Bottom line is that you didn't have the funds to pay for your purchase.
$40 non activity fees are disclosed in the account opening package that everyone signs. This is commonplace.
For someone to not noticed this when purchasing a stock is someone that is not being diligent.
I would expect this person checks the balance on there checking account before writing a check.
Just like with a margin call, if someone with a margin account doesn't put up addition funds they get cashed out to meet the requirement.
Brokerage houses are not banks and not in the business of extending uncollateralized credit.
This person made a mistake and bought something with money they didn't have.
I'm sure this could have been avoided if the person simply had a clue of how much was in the account and then called to let etrade know that additional funds would be deposited.
Further, lets clarify.
On the day you purchased 12MM shares at .0002 (about $2400). Did you check the balance of your account? And did you fund any difference by settlement?
So you bought something and didn't have enough money.
If you tried to do this at any store in the world would you expect any different action. They unwound your purchase.
You have an online account and I'm sure notices of your balance was posted. It's YOUR responsibility to know if you have enough money or not. It was YOUR responsibility to know to read the disclosure of fees when opening an account.
I see no problem in what they did. On settlement you failed to fund the purchase and liquidated the position.
All legal...YOU failed to act to fund the account.
That's the most silly post that I've seen in a while.
You're kidding right since it makes no sense.
Who did you speak to at Etrade?
" i called and yelled at them they told me that it wasn;t worth anything so they liquidated the shares to reduce thier exposure"
I'll call the person at etrade to verify a conversation of this type occurred without having them release any personal information about you.
LOL...so the end is near. PYCT shareholders get the same treatment as all other bancrupt companies. Nothing.
Also...this Pino ignoramus needs a dictionary.
I have seen allot changes
The very fact that allot of posters bought into the original scam and are believers of Pillay and Flushaway is evidence that a scam will never die if you control the mindset of the sheepal.
moneyhungry505, can you name one PR that ever came to fruition. Just one PR with real substance about the PYCT's real business of producing a product.
You seem to be Tom's mouth peice. How about asking him about the failed promise of the May 25th 1Q financials.
Perhaps Tom could comment on the Huge short position. Funny how he or the company doesn't, right?
I would like to know what Crims were pumping this on IHUB.
I'll look back through the posts...perhaps they could add a SEC charge.
Why? I told you it was a scam from the very start.
Just another naked shorting claim gone to the blue.
It was so very obvious.
curtg, so it was a scam.
Sorry, no financials are available to the public.
Someone must have misled you.
Sorry but a search for publically available information on financials from CES came up with nothing.
Can anyone post the link to the news release of the CES financials?
"Thats why any stock that trades under a $1.00 per share can not be NSS by law!"
Wrong. Absolutely wrong.
That's so wrong, so imbecile. Why post false and misleading information?
"It is illegal to short a penny stock! The charge is a $1.00 per share charge if they get caught! Puts this board into perspective!"
Fridge, an almost cut an paste of the last reporting, June 2008. Nothing of substance.
Any chance we'll possibly see a financial statement soon?
Is the company that inept that it can't cut and paste a previous cut and paste PR? If anything material changed it would have been PR'd right?
Why would anyone invest in a company without a named CEO?
Why would anyone invest in a company that doesn't give shareholders the basic benefit of a simple financial statement?
Common sense people, common sense.
Don't hold your breath. The company hasn't even announced a CEO or anyone that actually is in control of the company? LOL
"Perhaps when they select their manufacture, they will name the company choosen, and you can do our DD for us to verify if it's a joke or not? Just a thought."
"could be that the financial content if published would provide too much insight of what's really going on"
That's so sad. A comment like this is just embarrassing. I thought you were on the level, my bad.
One more question.
Why no financial statements? What are they hiding?
Thanks, a very fair response.
So when will the company officially reiterate the hearsay information you're presenting?
I'm mean, come on, this is a real company right?
Why don't they lay it on the line along with the foolish naked short conspiracy theory?
Perhaps the CEO would make a statement?
You seem to be the one who somehow gathers information.
Name the CEO or is this a secret also?
Watch and Learn, Mark My Post, It's a comin, Very Soon, MOASS.
All very tempting and misleading phrases, but when it comes to basic reality...
Try using common sense.
PYCT has made it clear that they have NOT confirmed a Naked Short.
According to the company PR's and Financial Statements, PYCT does NOT have in any way a Naked Short of any substance.
SEC rules dictate that all material evidence that could affect stock price movements has to be disclosed.
Evidently the company is following SEC disclosure rules and has no reason to report something that is non-existent.
Please ignore the pumpers who spread false and misleading information. The company has repeatedly warned investors to disregard message board posters who spread lies. All reportable information to believe in is issued through PR's and past financial statements by the company, not shameless message board pumpers.
No naked short, no short. Period. Confirmed by the company's own non response to the subject.
"I said short not naked short there is a difference you know"
I do, do you?
Legal shorts are reported in the short interest report, of course there are none.
Now what shorts would you be speaking of again?
Feeling like you were lied to?
Try using common sense.
PYCT has made it clear that they have NOT confirmed a Naked Short.
According to the company PR's and Financial Statements, PYCT does NOT have in any way a Naked Short of any substance.
SEC rules dictate that all material evidence that could affect stock price movements has to be disclosed.
Evidently the company is following SEC disclosure rules and has no reason to report something that is non-existent.
Please ignore the pumpers who spread false and misleading information. The company has repeatedly warned investors to disregard message board posters who spread lies. All reportable information to believe in is issued through PR's and past financial statements by the company, not shameless message board pumpers.
No naked short, no short. Period. Confirmed.
Looks to be another boring day, nothing new from the company.
Why would PYCT "move"?
Based on market available information, PYCT is virtually insolvent and haven't released recently due financial statements in a timely manner.
Why in the world would you invest in a company that provides no disclosure to investors?
The company has shown nothing for a shareholder or investor to believe in during 2009.
No disclosure of financial reports for 2008 3rd and 4th Quarter's.
No disclosure of the fantom naked short conspiracy theory.
No disclosure of the new CEO.
No disclosure of the impending stock separation. A spilt or a reverse split by way of splitting PYCT into two parts, one somewhat worthful, the other a shell.
From what I can determine, the worthless shell is what everyone will be left with.
Banana, don't you get tired of being lied to?
You posted this last Monday.
"For anyone who might be interested: Third quarter financials will be posted this week. Fourth quarter financials will be out before Feb. 15th.
Also expect updates on current company status this week."
Mark this post. - The so called stimulus package is a farce and quite frankly embarrassing as it's filled with pork.
Now to the point of Flushaway, any chance we'll see a verifiable source of one pad sold in the last two years?
Wrong, a margin account must be set up to short a stock.