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Naked short selling confirmed by the SEC [
There's a new chief in town and he's going after Hedge funds, Market Makers, Big Banks and other large institutional bad actors.
[https://t.co/0l3twwOrOb?amp=1] READ INFO.
The turnaround. Not long ago some were touting .0075 by traderXX. Now its dark and defunct. What to believe?
Since Monday of last week, most stocks (pennies included) is getting hammered due to Bond yield. PYCT is no exception.
you can't fight the big boys with their market correction (BS) antics.
PR from whom? about what?
My broker is requesting phone sale only. Order has to be place on a different system. They're not showing my order on the ask. Brokers are serious afraid. WHY?
NITE is soaking up shares to cover their naked shorts. If NITE no longer exists what is happening?
RAISE your ask fools. $NITE needs to cover their naked shorting, you're making it too easy to buy them up. Move to .001 to start - they have to buy.
NITE CG Holdings was eventually acquired by another market making rival, Virtu LLC in July 2017 for $1.4 billion.
Very well said!
Ok, enough. It is highly unlikely any previous business model this shell might have had or planned is still applicable.
Whomever is running this show now has some new plan for Paychest, it has nothing to do with whatever the Company once did or tried to do, and anything from 15 years ago is totally irrelevant.
In fact, anything that happened before this stock suddenly came to life earlier this year is totally irrelevant.
With stocks such as this, all that matters is the here-and-now, and what the future plans might be.
The company no longer produces disposable products. I have already posted the shell company was taken over by the company's SEC lawyer in 2019.
Before the new company can be established. The naked shorts has to be cleaned up first due to new FINRA rules, also posted previously. The naked short cleanup started on January 15th. I believe they have 40 days to get the cleanup completed. They're not even 50% complete IMHO.
This question has being answered many time. Call your broker and ask for exemption to sell. Be persistent!
For more than 10 years the number of shares traded on $PYCT have being kept track of because of it's irregularities. Enjoy the ride everyone.
TRADING VOLUMES THROUGHOUT THE YEARS
TOTAL TRADING VOLUME SINCE JAN 2004
84,457,802,253 + 2017 === 84,930,618,945 (as of 30/06/17)
2017 TRADING TOTAL======472,816,692
Issued & Outstanding as of Dec 31,2015:===== 27,685,264,936
2016 TRADING TOTAL======644,653,096
Issued & Outstanding as of Dec 31,2015:===== 27,685,264,936
Congrats to the kind gentlemen that have been indicating NITE naked shorted the piss out of $PYCT through VFIN. You were right on target, the ledgers you obtained legally through FINRA is now paying off beautifully.
If you review the numbers from adanac I don't think they have covered half the naked shorts as of yet. This week will be very interesting.
Over 84 billion shares traded around .0001. Wonder if this is the most naked shorted stock ever?
I remember someone mentioning around 2015/16 the shares traded on PYCT is somewhat unusual. Not sure what them meant, but I think a massive squeeze is coming.
JMHO
CHRISTOPHER P. FLANNERY - 25 years of experience in corporate and securities law for both public and private companies.
Where are you taking this?
One person cannot move a 28 billion naked shorted stock, no matter how many followers he/she may have. GME moved because traders made a collective effort to work together for a brief short period of time.
What is your effort on PYCT?
Market moves in cycles, but the first rule is - follow the trend. Whatever is going on? Market Makers is making it happen as they have always done.
Agreed. Look at $RITE with 3 billion shares its now at .0014. I have a hunch and I'll know by the EOW.
GLTA..
.10 is absolute lunacy. Paychest market value would be worth 2.8 Billion dollars.
Par Value = 0.001.
Call you broker and ask for exemption....!!!
Thoughts on naked short cleanup? input appreciated. Its time for trader to be wolves, not sheep.
https://www.sec.gov/comments/s7-14-19/s71419-6590623-202249.pdf
https://www.sec.gov/comments/s7-14-19/s71419-6984655-214633.pdf
Agreed...Look at $RITE that ticker is at .001 with over three billion shares.
As I have stated before OTC (naked shorted) stocks with no merger/stock splits needs to be cleaned, for it cannot stay naked shorted forever.
Question is why now?. Check all OTC stock that is moving for no reason, you'll see the CUPID number has not changed, thus the naked shorts needs to be cleaned up. IT's THAT SIMPLE!
If RITE is at .001+ with 3 billion shares, what will it take to cleanup 28 billion $PYCT shares?
Everything is an estimate (guess) until proven. Never trust anyone but yourself! It's that simple.
As of December 28, 2020 Rule 15C2-11 requires that a market maker make share information information available to the public, upon request.
As a market maker, Knight was in the rare position of being able to legally sell a stock it didn’t have (the principle being that it will get that stock soon, so no worries). That’s called naked shorting, and very difficult to prove. It’s illegal when regular people do it.
Knight, either on its own behalf or on behalf of clients, made a practice of artificially increasing the number of shares available in a stock through naked shorting, thereby depressing the price.
The thing about naked short sales is they can’t stay naked forever. Even if you don’t have the stock when you sell it, at some point it is expected that you hand it over.
Where Naked Shorts Go to Die
Reverse mergers and reverse splits typically result in a change in the CUSIP, the nine-digit identification symbol assigned to a public stock. Those trades can sit in the Obligation Warehouse forever, in theory. Since Paychest never completed its planned stock split or reverse merger the naked shorts (age Fails) cannot be buried forever. Becasue of changes to SEC rules like (15C2-11) this I believe needs to be cleaned up within a certain period of time.
Interesting, Paychest is
going back to its somewhat original charter. Wonder if the original investors is involved?
PayChest Upgrading Its Global Payment System
Saturday 29 April 2006 00:33 CET | News
PayChest has announced that programming for the upgrading of the companys Internet Payment System is on schedule and is now 80% complete. Negotiations are still ongoing with a number of new potential gateway partners, which will enable PayChest members to fund their transfers and online purchases using credit cards.
The company also plans to launch its own PayChest ATM card which can be funded from a PayChest members account online. This will enable PayChest members to withdraw funds from any of the one million ATMs in 160 countries around the globe. PayChest Inc. continues to eye the payment gateway markets not being serviced by PayPal around the world including the Philippines. According to some reports, the government of the Philippines said its economy grew at the fastest pace in more than eight years because workers overseas sent home more money than ever -- $10.8 billion. PayChest is uniquely positioned to capture this market segment along with the raging Asian markets like China and the emerging Central and South American economies.
Naked short covering.
https://theintercept.com/2016/09/24/naked-shorts-cant-stay-naked-forever/
I think the number of long term investors (not traders) is under 50. Have some balls and place your ask at .0005 minimum, we've waited this long. MM need your shares to cover, they have no choice but to buy.
After 20 years holding this stock and some are selling at .0001 is idiotic investment. With past fess this is still a losing trade.
.0005 minimum for me.
The maximum this reached was .001.
Corrections: It's one of the last clearing firms converting notes below $0.01.
Where is the filing that he (P. Coorey) left the company? As of 5/24/2018 he's still listed as CEO. I believe he's on the hook until officially filed.
STOP Please!
Why should anyone be excited? after so many years of disappointment.
More D.D will determine NSPR cannot add more shares at will. They have until July to be in compliance or delist, and my understanding is they do not wish to delist.
PYCT you missed the bitcoin boom. Hashgraph is the future.
paychest crypto.
Watch for someone to Tank TMPS at the close. BID/ASK spread is pretty wide.
8-K was expected due to company non payment to TMPS. https://backend.otcmarkets.com/otcapi/company/sec-filings/12436404/content/html
On November 22, 2017, we notified one of our customers that the Company was terminating an aircraft management agreement with them due to their on-going and repeated failure to make payment in full of all amounts due under the contract. The contract represents a material portion of our consolidated revenues ($4.0 million for the first nine months of 2017), but has not contributed significantly to either our consolidated gross profit or net profit. The contract also has not contributed significantly to net positive cash flow from operations, since margin on the contract is very low.
We have informed the customer that we would seek damages for losses and expenses in light of their repudiatory breach of the contract. Depending on the outcome of negotiations with the customer, and possibly litigation, the receivables owed to us for services rendered, together with damages, would be applied against the operating deposit of $750,000 to be repaid to the customer following contract termination. The final amount to be repaid to the customer, or which would be due to us by the customer, will depend on the results of negotiations with the customer. In the event the negotiations do not lead to an agreement, litigation may result. See “Our early termination of a material services contract will reduce our revenues, require repayment of an operating deposit, and may lead to litigation.” under “Risk Factors” above.
Contracts for fuel is already in-place if I recall. All Tempus needed were the airplanes.
With Boeing refueling (air-to-air) tankers delayed until Q4 2018 this is huge for TMPS. US and NATO operation depends on refueling.
https://www.reuters.com/article/us-usa-boeing/boeing-air-tanker-delivery-likely-delayed-again-u-s-air-force-idUSKCN1GJ3AL
https://rusi.org/sites/default/files/201408_op_europe_atar.pdf
News will spread. Watch the open tomorrow morning!