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SRSR looks like a good short to me: just my observation.
Of interest:
Phantom shares
November 21, 2007
Jonathan E. Johnson III - In the late 1800s, American financier Daniel Drew refined the art of selling counterfeit shares. Drew's biographer wrote, "There is no limit to the amount of blank shares a printing press can turn out. White paper is cheap... printer's ink is also cheap." Today, it is possible to counterfeit shares electronically — and it happens with such frightening regularity and impunity that Drew would be proud.
In modern stock markets, stock ownership has been separated from stock certificates through a process known as "dematerialization." As a result, when investors buy or sell stock, they are actually trading "security entitlements" — not actual stock certificates.
The Securities and Exchange Commission's Division of Market Regulation Director Erik Sirri explains: "The beneficial owner's [i.e., the investor's] ownership cannot be tracked to a specific share... [T]hey own a bundle of rights defined by federal and state law and by their contract with the broker. ... That's news to a lot of people." News indeed.
Brokers in U.S. equity markets receive commissions when buyers pay for shares, not when sellers deliver those shares. Thus, incentives to deliver share are so weakened that some brokers and large institutional customers (e.g., hedge funds) regularly use loopholes to avoid delivering shares at all. The result is a "failure-to-deliver" (FTD).
FTDs can be caused in several ways, but they commonly result from short sales in which the seller does not borrow or even locate the stock he sells (the infamous "naked" short sales). Regardless of how an FTD occurs, for each share not delivered the system creates a "phantom" entitlement the market treats as a real share. These "phantom shares" are supposed to be temporary in duration and few in number. Loopholes, however, are exploited on such a scale, and phantom shares are so persistent, they are corrupting the U.S. equity markets in three ways.
(1) Phantom shares warp corporate governance by inflating the number of voting shares. Bob Drummond (Bloomberg Markets) reported in April 2006, "The results of high-stakes company decisions may hinge on the invisible influence of millions of votes [i.e., phantom shares] that shouldn't be counted." In an analysis of 341 corporate votes in 2005 by the Securities Transfer Association, there was evidence of overvoting in all 341 cases.
(2) Phantom shares distort share prices by flooding the market with excess supply. In July 2006, SEC Chairman Christopher Cox said "abusive naked short sales ... can be used as a tool to drive down a company's stock price to the detriment of all of its investors." The creation and sale of phantom shares has become a common means to manipulate share prices in U.S. equity markets.
(3) Phantom shares create systemic risk. According to the Depository Trust and Clearing Corp. (DTCC), on any given day "fails to deliver and receive amount to about $6 billion daily ... or about 1½ percent of the dollar volume." Bradley Abelow, a former DTCC director, says FTDs within the settlement system "occur as a matter of course with great regularity," and calls them "endemic." The stock market has turned into a game of "musical chairs" where claims of ownership exceed shares issued. What happens when the music stops?
In a weak attempt to curb abusive naked short selling and reduce outstanding FTDs, the SEC implemented Regulation SHO in January 2005. Regulation SHO requires the stock exchanges to publish daily a list of "threshold securities" — companies that through no fault of their own have FTDs in excess of 0.5 percent of their outstanding shares. More than 6,000 companies have appeared on these Threshold Lists — many for hundreds of consecutive trading days. For these companies, Regulation SHO does not work.
Freedom of Information Act (FOIA) data received from the SEC reveal that FTDs have been as high as 10 percent of the average daily trading volume on the New York Stock Exchange and Nasdaq. FOIA data also reveal that, for many companies, FTDs are a significant portion of their total shares outstanding — in at least one case more than 45 percent.
Economists, the U.S. Chamber of Commerce, members of Congress, public companies, and hundreds of informed investors have urged the SEC to adopt a G.O.L.D. standard: G, eliminate Regulation SHO's Grandfather clause; O, eliminate Regulation SHO's Options market maker exception; L, require short-sellers to Locate and borrow shares before selling them; and D, require the exchanges to Disclose fully and promptly the aggregate FTDs for every Threshold List company.
To its credit, the SEC is working to fix two significant loopholes in Regulation SHO by eliminating the grandfather clause (final phase-in on Dec. 3, 2007) and by proposing to eliminate the options market maker exception (proposed, but not yet adopted).
However, these half-measures will not stop the creation of phantom shares. Will the SEC finish the job? That remains to be seen. According to a recent Senate Judiciary Committee report, the SEC is riddled with conflicts of interest that prevent it from properly policing brokers who are guilty of securities crimes. If the SEC does not act to protect investors, it falls to Congress to adopt the G.O.L.D. standard and bring an end to market distortion caused by phantom shares.
Jonathan E. Johnson III is senior vice president of corporate affairs and legal at Overstock.com Inc., a Nasdaq-listed firm on the Regulation SHO Threshold List for 642 consecutive trading days and counting.
http://washingtontimes.com/article/20071121/COMMENTARY/111210005/1012/commentary
Thanks RE: PBLS thoughts!
Shaker: You think $.0041 is a decent price to buy some PBLS?
Hank: If no news released today, you thinking you might be able to get fills under $.0035 later today?
Just curious ...
Let's try to guess the MM's tactics for this morning: what SAY?
I think they begin buying from each other soon here -- run the puppy up above $.005; try to keep it above $.005 as long as they can keep sucking in new buyers ... and slowly unload their shares they picked up yesterday at front-running bargain basement prices.
Other thoughts greatly welcome!
Lucky
I just had a vision! I saw 3 MM's fall out on the floor!
Should have some hard-core bashers showing up soon to help the MM's. Can you just FEEL the blood-pressure rising with those MM's?!!!! They are freakin'!
I think Alan should consider running for public office. He certainly has all the necessary credentials, from what I can see.
Wonder what "tricks" the MM's will come up with regarding today's news?
OOPS!!!! Spoke to soon. Gonna' just love these clowns. Maybe they'll have a private contest with each other to see who can first get it back below $.005
If the company will start issuing a string of PR's VERY soon -- watch this stock go into ORBIT.
Maybe PA will become a "Reverand" before all is said and done. There is always compassion for scam artists if they start carrying a bible under their arm and bowing their head in revernace at a Sunday-go-to-meeting-gathering.
This guy is just too much. Lord have mercy!
DLAV is AWESOME, actually ...
Anyone catch the DLAV train yesterday and today? Doesn't get much BETTER playing pennies1
I almost forgot playing pennies could be so FUN!
Remember the "business plan" "The Berm" PR'ed before launching into Geranium mining? It was developing land/properties in the tropics, for those of us who followed RSDS a year ago.
Why do I have this gut feeling that "The Berm" doesn't plan on staying in Texas all that long, but might well rather prefer the tropics?
No answers expected.
However: Makes ... if you hope to meet Vermin in Texas, you might plan on getting down there soon. He may quickly decide to take a business trip to the tropics once this 504 is completed, to re-energize his "business model" from '06, now that he has a little cash-stash to do so from us stoolies.
We may be looking at a VERY, VERY cheap stock here below a $.01. Any thoughts contrary?
If they are that thin on shares - this could FLY the next couple of days. Hmmmmmmmmmmmmmmmm ....
Is it remotely possible this company truly has something to make money with? A pennystock rising from the ashes?????
DLAV sure lookin strong, tisn't it?
Double bottom now being put in?
If the company can release some decent news, might be time to pick up a few shares as speculation, if there is some extra pocket change lying around.
Wondering when the next R/S will get popped however. Should be getting close now, I would guess.
TEK: To short pinksheet stocks "legally," ... I think one has to work for a Market Making firm.
To land a job at a Market Making firm, I've heard that you have to first pass "initiation rites" ... kind of like being accepted in a biker gang.
Though I can't substaniate this, I've been told that this "rite" now demands that you must steal the purse of a little old lady with either a walker or cane; steal also her walker or cane; knock her feet out from underneath her, and while she's lying there helplessly on her back (providing she's conscious) ... you must tell her that God loves her, and you've been sent by God to show her the way to heaven.
I was under the impression that news would be out by mid-day. Waiting ....
Upon doing some further investigation regarding things going on in this company ... I think this will easily go well over $.0044 by mid-day.
Let's see what happens!
Looks like a runner today for SURE.
SWVC prediction:
I talked with my four wino buddies down on the streetcorner about SWVC. Three out of the four state that it is being too heavily shorted, so be extremely cautious in how much $$$$$ you put into it, and how long you stay in it.
Thus their prediction is that it has a 75% chance of failing to meet long's expectations.
Righty: Thank you so much for your continued posting on this board. For quite some time, I thought you were a full-fledged short trying to subtly trash this stock.
But in due season ... I've come to realize you are simply aggressively addressing an issue that every human being deplores to the very core of their being: BETRAYAL via being lied to, in different shades of color.
Anyone with an open mind clearly realizes what Berman has done up to this point.
So Mr. Berman ... the ball is in your court. Whatcha' going to do with it, son? Going to cower out and blame the defense for your downfall ... or are you going to sober up and realize you have a major character flaw that needs some adjusting?
Well Rick: So what is it going to be? You going for the "easy" gold ... or are you going to grow up and be a REAL man of noble character?
Redemption is yet possible, but getting more difficult as each day passes.
We're waiting ....
I regretably have to agree. We'll SEEEEEEE ....
Blessings, OK.
Lucky
MSM: Your post #32304 -- Five solid-gold stars, my friend! Excellant, well articulated post. If that post gets circulated enough - long enough - it can't help but have some constructive good come from it IMO.
There is a vast difference between the motives of a basher and the motives of someone who is tired of being taken unfair advantage of, simply because existing laws allow them to capitalize on their greed.
When it's all said and done, maybe Berman will have served some worthwhile purpose afterall.
Thanks for you PM. I don't have PM capability at the time, hence my acknowledgement here. I realize your take may have much validity. BOTH issues can be a play.
Have a blessed weekend!
Yep: Appears MM's do NOT want this to run. The question I have is: WHY?
Anyone????
TOO Hilarious! Great post!
TEK: I've come to the conclusion that the "REAL secret" in making money in pennystocks is to short them like everyone else is who makes money off us longs who have our heads in the sand!
Maybe the new location in Nevada will offer slot machines in addition to showing off Extreme Sandbuggies. Anyone know if that would be legal?
After a thrilling - exhilarating day on the dunes, and a few cold ones ... ABSOLUTELY ... it's "Sandspeak."
Word has it this company dilutes BIG into any run. Thoughts TODAY about doing so - anyone?
SMTR: Wow! Gonna fly this afternoon!
KLUSS - From the recent 11/2 filing ... looks like this boat is about to take on water faster than what it can be pumped out.
Just grinning per the PR...