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After learning about these pink sheet companies, I'm surprised there're allowed to be traded publicly, the least the SEC should do is make it mandatory that before anyone can trade here, there should be a booklet that first must be read something like "the characteristics and risks of non reporting companies"
It the end many small time and novice investors (traders) will be hurt. Few will profit.
You think Zig is getting the stock printing press out on these news releases???
I really hope you long term holders get some of your money back, but even the very very best case scenario (which I doubt), I couldn't see this thing going higher than .50.
Company I watched for several year on the OTCBB merged. Never would imagined this could happen at such premium.
http://finance.yahoo.com/q?s=AEGCF.OB
Tell Zig if if wants people to beleive him, commit to some kind of date as to when they'll become fully reporting.
Is that asking too much???
Wonder who's doing all the buying (78,000 @.17) today?
80000 @0.17 (total) uptick, somebody believes Zig.
What do I think.....botton line, any original shareholders are down well into the 90 percents.
Being on the OTCBB will help a lot if it indeed happens. You'll be able to tell the exact condition of the company when the 10QSB report is filed. Very few beleive what Zid says.
Zigfraud is probably right, the shareholders probably won't get much in the end, one way or another.
Very few invest in pinks, they trade them...... buy on rumor , sell on the news.
I say buy on weakness because ZP has run up too far too fast. Only 2M in revs and losing a lot of money, but a buy under 1.00 as long as the orders keep coming.
Probably was a scam, that's why. But when you hold the stock you like to think it's for real.
There're almost no way to find out what really happen, they know that nobody is going to get a personal attorney to sue them.
Good luck, they may get enought news out to get the stock up but I doubt it.
It's just mine opinion, I don't think the buy out was for real. Who'd pay 70M for a company that had about 3M in revenues, unless they just signed a big contract or something?
Like you I don't see how updates can do anything to the stock, unless there're a confirable large contract.
I want to follow this company to the end to see what finally happens.
Hopefully something is happening and some people in the know are buying. Probably MM trying to trade back and forth to try to sell all those shares they bought for under a dime.
Would be nice if a small miracle happened and the price when back to a dollar for all these people still holding.
ZP trades on NYSE now because AXCX merger. Back log of orders, why do you think the stock is up 100% in a few day? LOW FLOAT, great penny play! could go to 3.00 just on order back log, if they become profitable.... look out above. Add on WEAKNESS. Speculative money ONLY!!
News won't move this stock unless it was something like a 50 M contract with a pro sport team. There're 0 credability here.
It's pretty obvious what Zig thinks of the shareholders. This April will be the one year anniversary of the RS. Actions and long term stock price speak louder than words and rumors. Maybe he'll another one RS soon.
The one thing that's absolutely clear, he doesn't give a flip about any of the shareholders.
Jim Cramer gives a little comment about pinks: http://www.thestreet.com/_yahoo/funds/madmoneymailbag/10237347_2.html
GTEC gapping up in pre market: http://finance.yahoo.com/q?s=GTEC.OB
GTEC gapping up in pre market: http://finance.yahoo.com/q?s=GTEC.OB
More from the same article:
""As a practical matter, smaller companies tend to fall below the SEC's radar and state regulators'," says John Coffee, securities law professor at Columbia University. "They're too small."
That means a lot of latitude for anyone who wants to abuse the system. Only when a penny-stock scam runs blatantly afoul of the law or violates anti-fraud provisions can the SEC get involved."
http://www.usatoday.com/money/markets/us/2005-11-10-pink-sheet-cover-usat_x.htm
GTEC up 300% this year on good volume going higher. http://finance.yahoo.com/q?s=GTEC.OB
GTEC up 300% this year going higher on good volume. http://finance.yahoo.com/q?s=GTEC.OB
Yes it does. This was particulary scary to me about pinks "The SEC usually gets involved only if scamsters get so greedy that they issue additional shares rather than just pumping and dumping existing shares, says Gidon Caine, securities lawyer at Dechert LLP."
That seems to imply that a pink sheeter has a lot of power to basically do what they want and there're really nobody to stop them and I'll bet the scammers know this. http://www.usatoday.com/money/markets/us/2005-11-10-pink-sheet-cover-usat_x.htm
I'm not posting negatively, just pointing out a few FACTS about pinks that most new small time investors don't know about. Just remember, (not to you) but any potential future investor. Pinks don't have to answer to the SEC. Yes, some of them do make it, some big time. But most of them are only traded, then dumped. A glowing report is not much good unless it also discussed the risks involved. All the research reports about Dragon were paid for.
You'll find much better oportunities in NASDAQ small cap and some OTCBB. Dragon Venture could be a big winner, just be careful.
http://www.usatoday.com/money/markets/us/2005-11-10-pink-sheet-cover-usat_x.htm
* The Over the Counter Bulletin Board (OTCBB) - This is an electronic trading service offered by the NASD, and it has very little regulation. Companies will trade here if they are current in their financial statements.
* Pink Sheets - Even more risky than the OTCBB, the Pink Sheets is a quotation service, and it does not require companies to register with the SEC or remain current in their periodic filings. The stocks on the Pink Sheets are the most speculative there is.
The main problem with being delisted is the trust factor: people lose their faith in the stock. When a stock trades on the NYSE or Nasdaq, it has an aura of reliability and accuracy in reporting financial statements. When a company's stock is demoted to the OTCBB or Pink Sheets, it loses its reputation. Bulletin Board and Pink Sheet stocks lack the stringent regulation requirements that investors come to expect from NYSE and Nasdaq-traded stocks. Simply put, without these requirements in place, you cannot trust the information you receive.
Another problem for delisted stocks is that many institutional investors are restricted from researching and buying them. This lack of coverage by analysts and the fact that mutual funds will never invest in them means the stock has an even steeper climb to making it back on a major exchanges.
Just noticed pinksheet.com says 40,030,000 shares outstanding as of around May 2005. Dragon website say 130 million. Wow, that's some dilution in a short amount of time.
Some novice investors forget, this isn't an independent report, it's A PAID report. All they have to do is start reporting with the SEC (OTCBB) and everybody can see inside the company. Basically, a pink sheet company is almost like a private company as far as the information they feed you. The question is: why you staying on the pinks?
They say they plan a listing on the AMEX in 2007. I guess if you want to trust them, this may work out.
http://biz.yahoo.com/iw/060119/0106734.html
The only thing that bothers me is if this is such a great company, why don't they move to the OTCBB? The stock would probably double and that exposure would pay for their SEC filing fees. They NEED to get off the pink sheets ASAP as they have a very bad reputation. The share price would rise and when they issued stock, there wouldn't be as much dilution. If they have the revenues they claim, the pinks are no place for them. The money they save on not filing they lose on a low share price. They have a nice story, but nobody has seen their financials. You just have to take their word.
I've noticed that pink sheeters tend to only release good news, not bad as they don't report to the SEC.
I'm going to watch and see what happens with this one. The only reason I found out about them is because a penny play I'm in has some of their stock, GTEC.
GTEC up big time in premarket http://www.investorshub.com/boards/quotes.asp?ticker=GTEC
GTEC up big time in premarket http://www.investorshub.com/boards/quotes.asp?ticker=GTEC
According to a recent SEC filing, GTEC could merge with a already established company "Genesis and The YaSheng Group, Ltd. ("YaSheng") signed a Letter of Intent dated December 13, 2005. YaSheng is a Chinese biotech/agribusiness conglomerate in Gansu Province, China with annual revenues exceeding USD 665 million, profits exceeding USD 83 million, and assets exceeding USD 1.3 billion. The merger would result in a qualified YaSheng subsidiary merging into GTEC, and the succeeding entity having a majority ownership by YaSheng. With due diligence and auditing underway, the intended closing date is estimated to be 60-120 days from signing this Letter of Intent. The final merger agreement would require the approval of the GTEC Board of Directors and Shareholders. We are actively seeking acquisitions or business opportunities to, among other things, increase revenues and improve stockholder value, which businesses or lines of business may or may not relate to the current core business of the Company." http://biz.yahoo.com/e/060113/gtec.ob10ksb.html
With little money to keep going, this would probably be the best thing for them as they lost quite a bit of money in the last two years. Isn't this what they consider a shell company??
GTEC completed their deal with Dragon today http://biz.yahoo.com/pz/060214/94191.html
Looks like there're a chance we may get some of the money back.
Several people claim to have quite a large positions in this stock and were averaging down.
Well, I didn't lose as much as some people. I would just like to see the SEC investigate to see if they can find something. I filed my complaint that's about all I can do. It's not worth it to me to do anything else. I guess I wouldn't feel bad as long as I knew that noboby mislead investors here. That's my point. Honestly, I think you're probably right, but proving it in court would probably be difficult and the people that plan things like this know that.
Doesn't it seem a bit strange a 70 million buyout (post split 1.56) now at around .10!!!