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1. Banks rarely indulge in getting their commercial loan customers closed, unless the bank itself is facing illiquidity. They are used to ups and downs in the business cycles of their customers. Unless fraud is involved in not paying back despite having income, restructuring the loan is the way they usually go as that usually affects only the interest part.
2. Attaching the property pledged as security is rare unless it is a niche bank like RMBA that deals exclusively in mining - that is like residential mortgage foreclosure - bank loses part of capital too in uncertain markets. Even RMBA has to indulge in downsizing after taking over defaulting mines. If foreclosure and closing down of commercial firms were the only solutions for the banks, none our businesses would have survived this far.
4. If projected profitability of Spanish concession didn't turn out to be as profitable as predicted, especially in the current gold situation, then good that the concession permit was let to lapse.
3. Unless the real interest rate (RIR) becomes negative, chances are that gold will remain at this level, if not falling. Otherwise gold should have gone up when Stock Indexes fell. So it is ideal that Petaquilla cut back its production of gold just enough to payback the DB obligation and the expenses.
4. Fifer is not the actual owner of PETA, otherwise he would have owned more shares than what he has now. He is just the rep for the real owner - the GOVERNMENT OF PANAMA. No way he can hand over 11,145 hectares of government land to any company, let alone FQM. PETA got it only because it is a government company.
5. Panama government has other better sources of income than what this company makes, so nobody is desperate to sell off anything. And unlike some of the companies in USA and Canada, the officers of this company have other sources of income. So they are not praying to Christ daily,"Oh, Jesus, please acquire us somehow".
6. FQM is too big a company to be bothered about acquiring smallfries like PETA.
7. So other than the previous agreement on aggregates, there were or are no talks of any merger or acquisition.
8. If there are it will be made public like it happened with INMET, they won't delegate it to some guys here to declare it on IHub first. All this allusion to secrecy purviewable by only a few favorites and chosen ones is just because some people here are mistaking corporate finance with personal finance. So if there are talks let the company say it than permanently promising "two weeks later miracle or death will happen". Many such two weeks have passed without the promised miracles or death because no talks are there.
9. The company is neither euphoric like the pumpers nor is depressed like dumpers. Ups and downs are part of business, especially in mining which is dealing with ever depleting resources with ever lowering grades. And this is not going to change if pumpers abuse dumpers or dumpers insult pumpers - the stock price is neither going to rise or fall because of verbal acrobatics, personal attacks, scorn or rumor-mongering on Ihub.
10. All these pumpers and dumpers are two sides of the same coin - FLIPPERS. Otherwise their names would be not here on IHub but on SEDAR FILINGS as insiders! Any way this is one of the best ranger for flippers for a long time now because it has good support level too.
Despite what governments, regulators and Wall Street says in theory, in reality:
1. No company has any obligation to anybody who bought their shares from the SECONDARY MARKET.
2. If you bought your shares from SECONDARY MARKET, you paid your money to the market-maker, not the company, company already got the minimum guarantee money at the time of the public issue or private placement from the underwriter, whether it fully subscribed, undersubscribed or oversubscribed.
3. Even in PRIMARY MARKET, the only stipulation is to give factual information on events and data until the date of the prospectus.
4. As regards future performance, no obligation to either PRIMARY or SECONDARY MARKET.
5. Only that having bought huge packets of shares at subdime prices, the PRIMARY MARKET participants already have a parachute to escape. Just doubling 0.01 to 0.02 has already doubled their investment while giving survival money to the company. A fake order for buys UPTO such and such higher price in the morning is just enough to attract gullibles into buying at higher price by close. THAT IS WHY MARKETMAKERS ARE ALLOWED TO KEEP TWO ORDER BOOKS - one public for show. one private for manipulation. (Yeah, being a patriotic BLIND capitalist can have its tragic consequences too! Crying "Russians are coming, Russians are coming" can cover it up, though.).)
6. The only time the company comes to secondary markets is to buy back shares - only a handful blue chips do that.
7. Insider buying and selling are not the same company buying or selling shares.
8. Only CEOs whose bonuses are linked to market-price-performance (not productivity performance but just pushing up stock price) try to improve "market" performances. Otherwise it is always better for them to keep everything away from the stock market.
Though we have come a long way from a Street Crier soliciting mining stock investment in Coeur de Aline, pennies, especially mining pennies are still a lottery except for flippers. You have only yourself to blame if you entered pennyland prospecting for the next BHP- Billiton or Freeport-McMoran.
PetaCo's concessions are Panama's national flagship property, so no way Panama will allow any sale even by Feifer. And Panama is not dependent on PetaCo for its governmental expenses.
Panama's US$58 billion economy and US$9 billion budget are not dependent on its small mining sector which accounts for only a fraction of the total economy, let alone the pittance represented by PetaCo.
Any area other than the original 136 sq.km granted by CL 7/1997 is only a permission to prospect, that doesn't mean all the land being prospected by PetaCo is theirs. Even that 136 sq.km can be nationalized in the name of national interest.
Also, any wrongful sale behind the back of government means, government can take back the lands under concession without paying any compensation to anybody involved, IF NOT BY THIS GOVERNMENT, ALSO BY A FUTURE GOVERNMENT even if the present government blesses any such sale.
There is a huge difference in the word "CONCESSION" and "PROPERTY". So all talks of selling any land to any third party is a pure figment of imagination.
If any company needs money for foreign projects, they will have to find alternate sources for it other than selling off Panama's flagship properties.
So plan your investment accordingly, not based on wishful thinking as if Panama will die if PetaCo does not hurry to sell things it actually does not own.
*** Adjusted theoretical price of Gold = 800 - 900
*** Production cost of Gold = 1000-1200
*** Speculative price of Gold = NON EXISTENT (as both Rockie and Goldie left the scene after decades of plunder through gaseous derivatives).
Through artificial price fixation and fake derivatives manipulated by Rockie in London and Goldie in NY, more derivatives were created than actual tons in storage and those worthless papers foisted on unsuspecting wannabes.
Usually demand should have driven price up. But this is a case where papers were written where there was no original producer or original buyer behind those papers. So the demand was artificial for a supply that never existed. YEAH, big speculator selling hollow worthless papers to unsuspecting small speculator - like the crooks who advertise somebodyelse's home on Craigslist and then run away with the advance when the buyer shows up!
With robber baron manipulators gone, all those unsupported paper assets left in the lurch in the hands of wannabes have to unwind and get extinguished in losses before Gold can move further.
THAT MAY ALSO MEAN VISITING THE THEORETICAL PRICE ON THE WAY DOWN ALBEIT BRIEFLY.
If that happens, see a Gastroenterologist and/ or a Cardiologist if you haven't weathered crashes before. Beyond that a Psychiatrist is in order. But beyond that only: Dr. God Almighty.
Those who STILL survive beyond all this will make the joyride up - like those lucky guys and gals who did at 400 and well all the way up to 1900.
Panamanian laws are different from US or Canadian laws: In Panama the property containing natural resource is ultimately owned by the government. If anybody is given a license, that means that company is only a custodian of the land only for the period of license, even if money was paid to acquire the land. Transferring the land to third parties is entirely at the discretion of the government, that stands whether US and Canadian investors like Big Brother or not. In short, CEO or BOD are not Gods to do as they like - the reason why Canadian regulators got a drubbing from Panama in this case when the former unilaterally tried to force Inmet's terms on PTQ. Also, it was foolish on the two Canadian underwriting firms to spread lies that the tailings tanks were leaking - a proof that some Canadian IBs are worse than US ones. That was tantamount to insulting Panama. So whatever companies decide between them, IT IS NOT BINDING ON PANAMANIAN GOVERNMENT UNLESS APPROVED, unlike the laissez faire elsewhere. That stands whether the company is located in Canada OR stocks are listed in Chicago, as long as the mine is located in Panama's borders. See money can't buy everything. It may boost our egoes to think all other small countries beyond our borders are banana republics where anything is possible - not so.
If you thought a small company with just one actually producing mine that has only 3 years of mining life left is same as BHP Billington then you have only yourself to blame. That stands even if you are promised burried gold elsewhere thousands feet deep. Until promises "incarnate" into molten gold, price won't move. Gone are the days where mining promoters can sell "lunar" promisory notes with lot of tables and graphics in market place with the help of some paid financial media analyst. The current refrain is "Show me the metal." And in the case of PETA what is being shown is old, nothing new. Those who have ears to hear and years to wait and moolah to idle without yield, let them hear. Until then this is just a flipper - Holy Words.
1. Corporate Finance is not Personal Finance, so don't act like BOD.
2. Economies of Scale for a large company is not the same as that of a small one.
3. What is life and death situation for INMET can be peanuts for FKM, not something to waste their time, money and breath on to be paranoid running after governments and regulators like crybabies, while a bunch of signatures and trucks will deliver the supplies at the door for a few millions.
4. No point in asking a Big Fish to eat a small one, unless it is blind and greedy with hunger.
5.Treat a Big Fish as a Big Fish by NOT asking them to say things which we want to hear but they never even thought of in their wildest dreams, OTHERWISE let US make pharmas rich buying Maalox. IN THE NAME OF THE TRINITY, AMEN!
- Holy words from Me and My Bosses.
Me and my bosses ask you bluntly:
How many of you have really read - yes, truly read - FKM's offer letter to INMET's shareholders, especially that part where they make veiled criticism of INMET's failed approach to PETA. Don't say bloody lies that you read, if you didn't. If you haven't, then how come guys have the nerves to come here and make expert "management decisions" on behalf of PETA and FKM. Bought a few thousands of a penny stock and suddenly became CEOs? So read it up first, then come and make expert comments on BEHALF or AGAINST PETA or FKM. May be soon Me and My Bosses will have to act like CEOs of puny pinksheets, making "wishful armchair management decisions" behind the backs of real managers at the fronline, breaking our own rules, so signing off. READ NOW, eh? GREAT!
Me and my bosses declare: 3 cycles are reversing or reversed to the upside, whether you like Papa Dickie Fifa or not.
1. Commodity gold cycle. (reversing)
2. Presidential political cycle. (reversing)
3. US econ0mic cycle (reversed already, will limp on as long as gov bail out.)
Me and my bosses will throttle anybody who is not on Gold one way or other for the next 12 months at least. Next expected top likely around 2016 @ 70-125% from today's levels when the last two of the cycles will lose steam. Unless of course, the McCains, Abdullahs and Avirams of this world can't sleep without firing shot. Me and my bosses have no control over that, we are no Gods you see not to bless puny pinksheet hubs, though we claim to be billionaires. As for Petas gold, ask Papa. Switching off as we don't want to be impolite to anybody.
Me and my bosses declare: 3 cycles are reversing or reversed to the upside, whether you like Papa Dickie Fifa or not.
1. Commodity gold cycle. (reversing)
2. Presidential political cycle. (reversing)
3. US econOmic cycle (reversed already, will limp on as long as gov bail out and then suicide.)
Me and my bosses will throttle anybody who is not on Gold one way or other for the next 12 months at least. Next expected top likely around 2016 @ 70-125% from today's levels when the last two of the cycles will lose steam. Unless of course, the McCains, Abdullahs and Avirams of this world can't sleep without firing shot. Me and my bosses have no control over that., we are no Gods you see not to bless puny pinksheet hubs, though we claim to be billionaires. As for Peta's gold, ask Papa. Switching off, not to be impolite - Me and My bosses are very decent people.:)
Me and my bosses don't like and won't allow PETA making any money from gold. We are happy only in m & a - because that is our bread and butter. Anytime it goes above 0.36 our heart breaks because that is our shorting "breakeven". Who are the guys who pushed this POS from 0.35-0.37 past our 0.36? That means we should call for reinforcements on the Hubs. :)
Why didn't the darned INMET guys tell us in advance that they will selloff to FKM? Seriously, Who wants a spinoff? Unless and until PETA willingly and completely surrenders everything to FKM, we won't stop. After all how can we short when people think PETA is Barrick and will rise dollar for dollar with it?:)
And we are saints that is why we are still spending time and money on PETA even though the diktat is "Cut short your losses, never keep your money in a loser". But then who said me and my bosses actually bought the shares? In our biz we needn't buy the shares we make noises about. As long as Frankfurt and online Hubs are there, our jobs are safe. :)
Me and my bosses make money only if INMET will buy it - or so we thought then. In fact, we had spent lot of time and money for that including peddling rubbish articles and outright lying interviews in the media. They even fell half into our trap too. But, Hard Luck. A huge fish came along and ate our medium fish.
So, we are now pinning hopes on FQM to swallow PTQ . But FQM appears too big a fish to snap at our smaller baits and smaller brains, nor are interested in small-fry microfishes like PETA even if they are excreting gold OOPS I mean extracting gold. FOR BIG COPPER PLAYERS, GOLD IS PURE GARBAGE - for the misfortune of me and my bosses, that is how mineralogy amd metallurgy works for the biggies. What to do? We are in limbo now.
But come what may, habits die hard, we will continue to hope others like PETA management have nothing inside their heads and I am still loyal to my perennially dreaming dumbass bosses whose job is helping big fish swallow small fish. Because we are undertakers, OOPS, I mean, underwriters. :) OUR PRAYERS: Please Good Lord, help by making coppergravel -lover FQM love gold dust too, please, please.
I am unhappy because the Ricks and the Rules of this world are making it difficult for my bosses to short this stock by spreading rumours. Me and my bosses are unhappy ever since Panama government came heavily on us when we spread rumours about the tailponds so that the company can be swallowed for a song. :)
Their concept is OK. Only problem they face will be customers. USA stopped midway in thorium reactor research, didn't proceed further much, being restricted to only a handful of experimental labs.
In the meantime those few nations who had some interest in the thorium cycle - either due to non-proliferation advantages or considerable ore deposits - continued their research and have developed their own technologies including mini-reactor beds for smaller power applications. Having spent millions in their own research and having attained a high level of sophistication, expecting those countries to make sudden beeline for unnecessary additional expense is wishful thinking.
While we can always claim our technology is superior out of patriotism, that need not translate into profits in cases like this.
So finding enough customers can be big problem unless the current uranium users are also willing to convert to thorium.
Thanks. Hope you read the comment at the end which reads:
In documents filed with the Court, Jesup & Lamont explains, "Due to the above, the Debtor lost its main source of revenue and decided to wind-down its remaining business. The Debtor's assets include several bank accounts with minimal balances, security deposits held by landlords in connection with leases to for office space, and balances due on loans made to and promissory notes owed by former employees…In this chapter 11 case, the Debtor intends to wind-down its remaining business, and liquidate any and all assets for the benefit of its creditors.
Can somebody give a link to the insider holdings data that says it is 60%,
because the best data available online so far says it is or was only 5%.
Thanks in advance.
From SEC Website (highlighting inserted by poster)
What Will Happen to My Stock or Bond?
A company's securities may continue to trade even after the company has filed for bankruptcy under Chapter 11. In most instances, companies that file under Chapter 11 of the Bankruptcy Code are generally unable to meet the listing standards to continue to trade on Nasdaq or the New York Stock Exchange. However, even when a company is delisted from one of these major stock exchanges, their shares may continue to trade on either the OTCBB or the Pink Sheets. There is no federal law that prohibits trading of securities of companies in bankruptcy.
Note: Investors should be cautious when buying common stock of companies in Chapter 11 bankruptcy. It is extremely risky and is likely to lead to financial loss. Although a company may emerge from bankruptcy as a viable entity, generally, the creditors and the bondholders become the new owners of the shares. In most instances, the company's plan of reorganization will cancel the existing equity shares. This happens in bankruptcy cases because secured and unsecured creditors are paid from the company's assets before common stockholders. And in situations where shareholders do participate in the plan, their shares are usually subject to substantial dilution.
If the company does come out of bankruptcy, there may be two different types of common stock, with different ticker symbols, trading for the same company. One is the old common stock (the stock that was on the market when the company went into bankruptcy), and the second is the new common stock that the company issued as part of its reorganization plan. If the old common stock is traded on the OTCBB or on the Pink Sheets, it will have a five-letter ticker symbol that ends in "Q," indicating that the stock was involved with bankruptcy proceedings. The ticker symbol for the new common stock will not end in "Q". Sometimes the new stock may not have been issued by the company, although it has been authorized. In that situation, the stock is said to be trading "when issued," which is shorthand for "when, as, and if issued." The ticker symbol of stock that is trading "when issued" will end with a "V". Once the company actually issues the newly authorized stock, the "V" will no longer appear at the end of the ticker symbol. Be sure you know which shares you are purchasing, because the old shares that were issued before the company filed for bankruptcy may be worthless if the company has emerged from bankruptcy and has issued new common stock.
During bankruptcy, bondholders will stop receiving interest and principal payments, and stockholders will stop receiving dividends. If you are a bondholder, you may receive new stock in exchange for your bonds, new bonds, or a combination of stock and bonds. If you are a stockholder, the trustee may ask you to send back your old stock in exchange for new shares in the reorganized company. The new shares may be fewer in number and may be worth less than your old shares. The reorganization plan will spell out your rights as an investor, and what you can expect to receive, if anything, from the company.
The bankruptcy court may determine that stockholders don't get anything because the debtor is insolvent. (A debtor's solvency is determined by the difference between the value of its assets and its liabilities.) If the company's liabilities are greater than its assets, your stock may be worthless. Contact your local Internal Revenue Service (IRS) office or call 1-800-829-1040 for information about how to report worthless securities as a loss on your income tax return. If you don't know whether your stock has value, and you can't find a stock or bond price in the newspaper, ask your broker or the company for information.
I'm a bit uneasy about their relationship with Access. Most of the earlier agreements appear to have been signed by Access. And now BSPE has only a minority stake in Access?
Some necessary correction before I sign off
Alaron existed before Paul who was just an employee there for sometime. In fact, they were a "nursery" for many of today's futures traders. Their principal is a doyen in the industry even today.
Principals of Genesis too were under different partnerships before forming their own company. In fact I had to pass that building in downtown Manhattan every week day for work before.
To drag the names of these reputable companies into the mom&pop Spooz debacle for the fun of it is misleading.
I think you are misreading Mr.Mod
First of all, except for the title none of the contents were about you. You never said you are going to file a complaint.
But since you are making this statement " They won't discuss their activities with you or anyone else unless they pull the trigger anyway.":
Please be informed it was a two page email that even went in detail to all the previous actions taken in this regard. Much of it (2005-2007) was discussed here a few messages earlier.
As an ex-NASD registrant, I am surprised the way you make authoritative assumptions about who can access SEC info and whom they will talk to. I asked them some questions and they answered it promptly.
In fact, though I have been on this board for a long time I didn't post here much to avoid a conflict of interest.
Read before MC scraps this post!
At least 3 people here emphatically confirmed they complained to SEC and encouraged others to do so.
I enquired about that with SEC last week.
In their reply email they say they don't have any recent action related to Spooz on file!
This company is grossly mismanaged entrusting valuable business ideas to crooks. But that doesn't mean that people who post here too start writing untruths here like them.
I don't care whether some people won't believe unless I post that email because they themselves don't care to do such things.
May be now they will say SEC is a liar!
OOps MC,
I didn't know you were there and typing at the same time :)
Regards
The investigation in question
was a prior one that included 13 companies out of which only 3 were suspended from trading:
The company stocks that were the subject of the Useltons’ spam campaign, according to this SEC’s complaint, included
1. Oretech, Inc.
2. Intelligent Sports, Inc.
3. Advanced Powerline Technologies
4. Notch Novelty Corporation
5. Avondale Resources Corporation
6. Spooz, Inc.
7. ESPRE Solutions, Inc.
8. Grifco International, Inc.
9. Leatt Corporation
10.Adrenaline Nation Entertainment, Inc.
11.Equipment and Systems Engineering, Inc.
12.Gulf Petroleum Exchange, Inc. (later Software Effective Solutions Corp.)
13.Wentworth Energy, Inc.
The SEC in March 2007 suspended trading in the securities of three of the companies
(Advanced Powerline Technologies,
Leatt Corporation, and
Software Effective Solutions Corp.) as part of its anti-spam initiative. The SEC revoked the registration of the securities of Oretech, Inc. in December 2005.
Spooz was already "accused" by "interested" people (probably iHubbers?), so Spooz had already made a complaint to SEC which were already in the latter's records and which included a legal notice to Useltons.
SEC subpoenaed all the relevant records and since Spooz had already taken legal steps against Uselton, SEC did not implicate Spooz even if some of us want to, for whatever reasons or for no reason at all:)
The 35 Spamalot (2007) as per SEC
The 35 companies whose tradings were suspended for 10 days in Operation Spamalot in the year 2007:
1. Advanced Powerline Technologies Inc. (APWL)
2. America Asia Petroleum Corp. (AAPM)
3. Amerossi Int'l Group, Inc. (AMSN)
4. Apparel Manufacturing Associates, Inc. (APPM)
5. Asgard Holdings Inc. (AGHG)
6. Biogenerics Ltd. (BIGN)
7. China Gold Corp. (CGDC)
8. CTR Investments & Consulting, Inc. (CIVX)
9. DC Brands International, Inc. (DCBI)
10.Equal Trading, Inc. (EQTD)
11.Equitable Mining Corp. (EQBM)
12.Espion International, Inc. (EPLJ)
13.Goldmark Industries, Inc. (GDKI)
14.GroFeed Inc. (GFDI)
15.Healtheuniverse, Inc. (HLUN)
16.Interlink Global Corp. (ILKG)
17.Investigative Services Agencies, Inc. (IVAY)
18.iPackets International, Inc. (IPKL)
19.Koko Petroleum Inc. (KKPT)
20.Leatt Corporation (LEAT)
21.LOM Logistics, Inc. (LOMJ)
22.Modern Energy Corp. (MODR)
23.National Healthcare Logistics, Inc. (NHLG)
24.Presidents Financial Corp. (PZFC)
25.Red Truck Entertainment Inc. (RTRK)
26.Relay Capital Corp. (RLYC)
27.Rodedawg International Industries, Inc. (RWGI)
28.Rouchon Industries, Inc. (RCHN)
29.Software Effective Solutions Corp. (SFWJ)
30.Solucorp Industries Ltd. (SLUP)
31.Sports-stuff.com Inc. (SSUF)
32.UBA Technology, Inc. (UBTG)
33.Wataire Industries Inc. (WTAF)
34.WayPoint Biomedical Holdings, Inc. (WYPH)
35.Wineco Productions Inc. (WNCP).
However much I would like to add Spooz (SPZI) here, there is only space for 35 here, since that number is already fixed by SEC and it is illegal to put words into SEC's mouth.
Short-term plays
1. If anybody wants to paint a rosy picture of a company, he/she can do it, provided such person discloses his/her holdings of shares, his/her interest in the company, and any remuneration received from any interested person for publishing that info.
2. But if there is any inducement to BUY or SELL anywhere in the article like an advisory, then things get more professional and legal:
You should at least be a registered representative (Series 7) or an investment adviser (Series 65) WITH appropriate State licenses.
3. The best example of the first operation is the doubling of UOMO today with multiple unregistered "advisors" pumping it during the weekend in unison with no immediate material reason for such a move on the part of the company. Such moves are engineered by short term big holders who publish their own newsletters just to recoup their investment to reinvest elsewhere in the next company.
If there was any inducement or advise to BUY or SELL, by a person unlicensed by NASD or similar organization and not registered by a state in USA, that is illegal.
REMEMBER, this equally applies to BUY and SELL.
Usually REAL companies who really want to make and sell some products cannot indulge in this kind of activity in their own shares, as it will become difficult for them to get short term bank loans. I don't think Paul, registered and having an unblemished record with 3 professional organizations with their own disciplinary committees can do it. That may not be music to some ears here.
For MC
Paul Strickland was talking "seamlessly" about the services by both companies. So:
1. Either, he was forgetting they were separate entities, being into both of them.
2. Or, may be a possibility exists for amalgmation both companies into one at some stage in the future.
(SpoozToolz is stalled for all practical purposes and revival will require more staff which they can't afford at this time or in the foreseeable future.
Anyway they are still promptly paying for the Spooz and Spooztoolz websites, though not being updated except for the market data)
3. Or, 141 will be working further on Spooz (which is a middleware) which they are entitled to.
Best chances for Spooz is to ride on the 141 bandwagon but that may take a decade, unless merged before that.
But then, these are my wild speculations. And wild speculations are not good for an environment where some "expert" discussions are done without knowing what is a middleware :)
DISCLAIMER: Paul Strickland didn't say any of the things written here.:(
1. If you bought SPZI in Neanderthalia,
and provided it was authorized to be sold there, may be you can file a suit in Neanderthalia itself, no need to file one on this side of the pond.
2. If you bought SPZI in Neanderthalia in an unauthorized operation beyond the pond, you may sue the Neanderthalia Stock Exchange and the Neanderthal broker for damages, provided you can prove you didn't know it was illegal.
3. Now comes the "best" part of the story:
If you SHORTED SPZI from Neanderthalia months back when such games were fashionable beyond the pond despite Yankee regulators asking not to do so,
-then had to run for cover when Yankee regulators tightened the noose,
-lost lot of money in the cover-up run, accidentally pushing up the price of a penny stock multiple times in one week:
No way Yankees can file suits on your behalf, even if you have a boss breathing heavily down your neck, pressurizing you to recoup the heavy losses SOMEHOW! Just because there are no more shortings now doesn't mean that the old investigations are over.
Because, at no time it was registered for such operations overseas. Any Yankee who files a suit for charitable purpose on behalf of the Neanderthal will be opening up a Pandora's box of how this operation was done from beyond the pond.
Now, Yankees may realize why some Neanderthal do-good missionaries were very honest and bold in telling they never owned this stock.
4. The desperation shown is disproportionate to the company's nonperformance, unless all of one's life savings have been squandered in SPZI and the spouse is getting ready for a breakup.
The truth is nobody in Yankeedom can legalize an illegal operation in Neanderthalia just because a Neanderthal beyond the pond is taunting Yankees they are worse than some other humanoids living on the face of the earth, as happened here a few days ago.
I have been thoroughly forewarned by my government in polished terms about all possibilities - good and bad:
"This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of Forward-Looking Statements: This news release may contain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements present management's expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements."
Not only that each time I clicked to buy a pinksheet, I have been delayed for a few moments with a dire warning to think a second time and asked to click again if I wanted to go through with a buy.
So, I have no complaints against not one golddigger but nearly 40 golddiggers who didn't keep their promises.
As an American, my rights don't come without some responsibilities on my part, especially since I am not a kid.
Nobody is stopping others from filing complaints.
But I am not filing complaints just because somebodyelse wants it. I didn't force anybody to buy not only this one but the other nearly 40 ones. Nor did anybody force me to buy anything.
For those who think pinksheets are bluechips:
Non-Americans may find the idea of pinksheets preposterous and weird. Yes, we have some idiosyncrasies like allowing pinksheets to seek investments the way they do including some with no requirement for any reporting.
But if you look up our history they were actually pennystocks that originated in the goldmining regions of our heartland and way west.
With no organized set ups to gather capital in our pioneering days, a “goldigger” (an apt term even today) would stand in the street corner soliciting his penny stock. People strolling the streets who considered him weird then, just laughed off and passed him by.
Those with a penchant for gambling bought from him his stock (actually a receipt) and wished him well in his "gold mining exploration" which was actually manual digging and panning.(These receipts are now rare collector's items as part of our pioneering heritage ).
The situation is the same even today except that THEN both the seller and the buyer KNEW VERY WELL THAT IT WAS A GAMBLE, THAT HE MIGHT OR MIGHT NOT STRIKE GOLD.
But, as New York and Chicago took over OR, to be precise, as the pennies progressively matured through:
-street corner
-under a tree
-in a coffee house
-in a rented building
-into own building
-telephone
-fax
-organized set up
-even computerized skyscrapers
the later generations forgot the real, original nature of pennies: THEY ARE STILL A GAMBLE.
To people outside USA this may sound ridiculous, but it is part of our heritage to give everyone a fair chance including those who have no money or credit,
- so that out of hundred, most of who may fail or cheat, at least one will turn up profitable and be honest.
So if you are not familiar or comfortable with our weird scandalous ways better not invest in pinksheets. Yes, we have our own idiosyncrasies which may not suit the rest of the world.
That also makes any strict regulations only a remote possibility, with onus of due diligence strictly on the gambler, except for some timely warning when you click the buy button on your broker's website.
Pinksheets are for those with a gambling mind, both the promoter and “the investor”. You may call us fools, but we may not care.
But if anybody thought pinksheets are bluechips, then you have only yourself to blame.
My own account is a graveyard of nearly 40 dead pinkies, with a smattering of a few successful ones. But I am not going to call anybody names or hold anybody responsible for that except myself. Because nobody put a gun to my head and told, "Buy Now!"
A. If you believe you have been defrauded AND HAVE EVIDENCE with you to prove it - COURT
B. If you believe you have been defrauded BUT HAVE NO EVIDENCE to prove it -
LAW ENFORCEMENT
or
REGULATORY AUTHORITIES which is the case here in USA.
(But if you don't want them not to reveal your name as the complainant, then they will just register your complaint as anonymous and won't proceed further.)
And if you really intend to sue, don't blah blah here, because it can weaken your case as well as becoming liable to paying damages for libel if you lose the case.
So also is the case, if you threaten to sue somebody in public and don't carry out the threat. You are becoming an accomplice in the fraud, rather than a victim.
So, if you really want to sue, do it the proper way. You are giving your alleged opponent lot of leeway unnecessarily. Also, remember, one of your alleged opponent is a corporate lawyer too.
FOR THOSE WITH BULLISH INTENTIONS,
this may have to wait not just two quarters but may be another year for any miracles to happen.
In this economy, with accounts shrinking, no brokerages are in a position to risk money to integrate new, untested products into their platforms when the economy in a downward spiral.
Also, many of them have long-term contracts/arrangements with earlier providers. So expecting them to make sudden about turns for new providers is too premature.
Bloomberg can afford it because he is running his own company in a conservative way unlike other CEOs and has a tight grip on even small matters, so he has much leeway in the matter.
Integrating into small players like IT people offering trading programs is not going to be profitable as none of them are the size of trade station and similar ventures to make any dent in the market. Spooz's own efforts in this direction were very discouraging.
The Presidential second year is the best bet, especially by that time financial institutions may have recovered to some degree, but not fully.
Even then, it depends much on whether Spooz will get up from its coma and start marketing again in full force to large brokerages.
FOR THOSE WITH BEARISH INTENTIONS,
don't be too greedy, you can't ask more than .0001, the best price ever.
oH, Yeah, You all know
Whenever I write here on I-Hub, I always refer to "Chicago Manual of Style".
oH YEAH, Let us start crapping! Now!
Yeah, let us inundate Bloomberg's inboxes and answering machines with ridiculous queries as before until they switch them off. May be even get the hapless employee fired for opening her mouth.
In fact this time we should ask another god-send question too:
"We heard from one Mr.Game that you offer Spooztools on your platform."
And let us not stop bothering them for the next six months.
Last time the most crappy question was,"How can big guys like you collaborate with a crap called Spooz?" as if BB was one's dad's company. All that after identifying oneself as a Spooz stockholder!
And now let "me" consult with "my boss in Berlin" how to respond to this unexpected "attack from Mr.Game."
That can be a very harrowing experience.
One stockbroker, who offered a free security software to scan my computer for trojans, never revealed it belonged to another company, Tata in India.
Further search revealed that the technical stock alert that arrived promptly at midnight from another stock broker was being generated by software from another Indian company Reliance.
Reliance was willing to share info on which brokerages are using their software in USA. But the clients here in USA of both companies were reluctant to admit that.
Bloomberg's clients are high net-worth groups mostly institutions and the financial media. May be we have to befriend somebody who works in such a firm and visually verify it - too much bother for a pinkie lottery costing 0.0001.
The problem with this company from the start was employing dishonest techie staff who were cheating the promoters. They commandeered the whole show to such a level that the older guys were totally dependent on them.
The senior guys had so much faith in their techies, that they didn't realize the carpet was being drawn from beneath them by the latter. The situation worsened to such a level that the top guns didn't know what was happening right beneath their noses.
That explains the earlier law suit and the present spin-off and whatever happened in between.
That also explains the erasing of months off the bios - but no way they can erase that from public records.
On a national level, this is partly why Congress is dragging its feet on banning outsourcing and offshoring despite vehement public outcry. The CEOs have presented before the politicians such a formidable array of evidence against local talent.
May be we have to change our work ethics - I' m not sure about that.
Techie members of this forum, please don't take this message as a personal affront.
Real billionaires were shocked to see their inboxes overburdened with absurd calls and emails from strange sub-penny millionaires and asking absurd questions like:
"Are you really offering Spooz? When? What?How?Why? - including an arrogant How come?"
In fact this was the first time they had to face this kind of rubbish!
They had better things to do than answering sub-penny millionaires' absurdities and paranoia. So they had no choice but ask to be removed from any references.
On July 18, both parties had filed a joint request to the court for a 30 day suspension of proceedings to try mediation to end the case.
So conviction may not happen. The original case was for a compensation of $75,000.
Some details:
JOINT MOTION TO STAY PROCEEDINGS PENDING MEDIATION
The Parties, by and through their attorneys, request the Court to stay proceedings pending
mediation between the parties. In support of their request, the Parties states as follows:
1. The Parties have conferred and wish to mediate this matter.
2. The Parties plan to exchange expedited discovery and have identified mediators to
handle this matter.
3. The Parties request that the Cout stay proceedings in this matter pending the
outcome of mediation between the parties.
Wherefore, the Parties request the Court to stay proceedings in this matter for thirty (30)
days pending the outcome of mediation between the parties.
How do you integrate a small company's software into an internationally acclaimed billion-dollar trading and financial platform which cannot be stopped for even one second? By pressing a button?
There will be trials, re-runs and over-runs spread over many weeks. 60 days is just the beginning of it. Don't expect Bloomberg to utter the word SPOOZ before all that is done, not just integration.
SPOOZ is just one of the many for Bloomberg and they won't open their mouths until finally cleared by their IT and legal departments.
"non-exclusive basis"
That says it all.
IW
Hiding in the first or second month's postings in the year 2005 is a communication from Paul regarding his strategies to counter hostile takeover and competition and why he is opting for BB listings.
Still accumulating!