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Yes there are certainly alot of shorting rings around the stinky pinkies, although I don't know the history here with KING. A run to .01 wouldn't get me too excited, it would just get me out even BTW. But I don't sell for a 70% loss in any case.
As for not covering short positions - I believe the shorts need to churn their position every 13 business days, right? So if there is a big short position, we should see big volume to cover. There has been, indeed, enough volume in KING to sustain long term shorting. Could be the case, hard to say.
Whatever, nothing matters as long as the company stays on track and realizes their potential profits. Oh, and stops diluting. Really I wouldn't be so quick to point out shorting if the company has been selling lots of shares, which appears to be the case here.
Mmm, yes.. but now the way I wanted :(
But you may well be right, and I might be one of those that got sucked in. I bought at .01, hurts now. But I'm patient and if the company actually realizes their potential profit it will be all good in the end. Thanks for the reply.
Just curious - why would you take issue with someone trying to bump the stock UP? Unless you want it to go down...
I see paints at the ask/bid all the time. But a shareholder would normally only be upset if the paint was coming from the short side. Are you short KING?
I called first to just get a feel for him and the company, make sure he could explain all the details. He passed that test very well, he knows the business inside and out. He definitely didn't set up the company just to sell stock, lol.
I did have a number of questions to fire off, and got solid answers on all of them. I wanted to give some free advice on how to handle shorting, which is tricky because the SEC doesn't give a damn about the very illegal naked shorting rampant here in the pink sheets. There are only a couple things one can do to fight back, and they are looking into all the options. I appreciate their strategic nature of looking before you leap. As you can tell by their PRs, they are well written and thoughtful, this is no CSHD.
I asked about the expansion and getting cars loaded up onto the sight. The new deal with BMG (Boost Motor Group) will really REALLY help expedite things, within a couple weeks we could have hundreds or thousands of car listings, boom, all in one shot.
Doug was pretty sure the stock was shorted but not positive. We talked about the confusion with the other similarly named company doing a reverse split, and my thought was that started the downturn - then the MM's and shorts jumped on the downward momentum and just killed it, for multiple cycles of shorting and covering. He's still keeping an open mind and looking into what happened, as much as possible. I appreciated that he wasn't like me, saying he's for SURE it was shorted, it comes off better when the CEO is humble and doesn't jumpt conclusions without all the proof. But in my mind, what else could it be? Nobody could even remotely, possibly, have made any money flipping it all the way down like that.
I requested an earnings update in a PR, which could really help out, we don't have current numbers to work with. He said their last report did not show a profit for 2008 (revenues but not profit yet), HOWEVER they are revising this to show revenues and profit for 2008! So things are actually going BETTER and faster than they expected with going live. Everything was good news except the stock price.
I don't think I've ever seen a company with NOTHING but good news, on-track and even ahead of schedule, with no dilution, take a 98% loss in 5 weeks. This constantly blows my mind, and makes me happy to be lucky enough to get my shares at .025 and down, instead of .60.
Bwaaahaha that's hilarious! Excellent observation lol, Google shareholders are thrilled.
Ok 4 real - I'm considering buying some DIAAF, followed the company for a long time. News is great but lacking details - did Google buy a serious amount, or a token amount? With dilution a little scary to buy without knowing the size of the buy, which you'd think they would have noted if it was significant.
Anyone contact the company to gauge the size of the purchase?
Just had a nice talk with the CEO Doug Mann. I think he's really got his head on straight, and will turn this company into a success. For the record they haven't made any bad moves so far that I've heard of. I'm sure the company was massively shorted last month, don't know if they've covered or are trying to now, and are out of panic sellers.
I also worked out the math today, the company only has to make $25,000 this year to keep "fair value". 25 million share O/S X .01 = $250,000 market cap, divide by 10 Profit/Earnings ratio = $25,000.
Anything think they'll make less than that in '08?
I'm of the opinion the price has been superficially crushed to the the point where it has to rebound. I find that NO company with even a shot of making it goes below a market cap of $200,000 or so for long. When they break under $100,000, even a dead pig will bounce. We're at $250,000 now based on the O/S, and I believe only 14 million of the 25 million O/S are actually free trading, so there's not many legitimate shares floating around.
The stock has been shorted as low as theoretically possible and we should encounter a reversal soon. If the company is good on their commitment of no dilution we've got a very bright future IMO.
That's a great update! Wish that was the PR instead of the PR, lol. Doug should consider adding a Blog to the web page for these less formal, but CRITICAL updates.
Their firm commitment to not diluting is really impressive.
BTW I contacted the Transfer Agent yesterday and they confirmed the float is still at 25 million, it has not grown. All this "selling" was not coming from the company in recent days.
lol don't feel bad, I actually didn't sell all my shares "just in case". I wouldn't feel right letting everyone suffer without me, it's the masochist in me.
Anyone mind if I get all schizophrenic and switch to pumper? Whoot! To da moon! Buy my last shares!
Last question - am I still an idiot for selling today?
Sorry to hear that Stevo good luck to you.
But please don't think your money is safe in a pinky! Ok point made I'll stop, despite the lack of recognition that the CEO certainly appears to have lied. Just don't bet the farm and have fun.
Haa you replied to my last post 3 times. 2 of them were the same. A little emotional are we?
Don't know why you think you're more entitled to be here than I am. Sure I'm being negative because I was lied to.
And meanwhile your job is to butter up newbies to help pump your stock. And you can't even recognize the FACT that you were LIED to. Accept that and I will stop.
Whaa? I pointed out the CEO lied to us here about dilution this week... and your response is he's an upfront CEO?
A few neurons misfired there perhaps, check your oil.
Exactly... the CEO didn't have to say a thing... about how he was NOT going to dilute to shareholders. Why lie? If you guys are totally cool with a lying CEO then I guess nothing else matters. To me that's all that matters.
This all happened within a few DAYS. He said no dilution and then blew up the float 50%. Don't know why that's so acceptable. Float was 1 million like 2 weeks ago, yes? 800% increase... no big deal...
I would agree if it were going to stop there. But a pattern of dilution has been established. Do they have enough operating money for the next 6 months? year? Why don't you ask the CEO, I'm sure he'll say we're fine for the near term. again.
That's the bottom line. Float has grown from 1 million to 6 million to 9 million. CEO said no dilution to forum members (not to me direct but I trust people weren't lying).
Company is typical stinky pinky and dilution will obviously continue, good luck all. Credibility is everything and there's none here IMO.
It's the lying part, not the 9 million float people are rightfully pissed about.
Stinky ass lying sack. That's what he is. He said NO dilution and diluted 50% within a matter of days. Unforgivable, I'm out and good riddance.
This is a good point, where is the other 7 million. My guess is the company would say they are "tightly held" but not restricted. Therefore they are in the O/S but not in the float.
Yeah? Take a look at AUCI. Took a drop from .60's down to .01, and today dropped under a penny for the first time in history. This all happened in five weeks.
The company put out a PR explaining there is NO dilution and no need to raise funds. Weeeird stuff going on in pinkyland, but isn't it always shady. I'm in both AUCI and BDRR BTW, averaged down today on both.
Well as upset I am at the rediculous 50% drop today, and almost every day it seems... this is one of the best explanations from an IR department I've seen. This is exactly what shorts do:
"What traders will do is continually roll volume around so that they do not have to declare their short positions. They have to declare in three days, but if their position changes, then the clock gets reset so to speak. "
Float cap is $150,000 currently.
10 days left, eh? Well I know alot of people who got dividends already sold them before Dunavant took over, so it's certainly less than that left. I think I was probably the first to get the door shut in my face, lol. Takin one for the team.
The upside here could be rediculous if they come even close to any of their projections.
It hasn't been 2 years yet, but you're right after 2 years you don't need their permission. There aren't too many left out there I think, and it probably wouldn't hurt the price much, I agree. Don't know what Dunavant is thinking.
I did hear his audio clip though recently, and he said "just watch the price between here and 90 days". I think it's been like 60 days or so since he said that. Waiting for something big to happen. Reverse split... and then uplist? I sure hope so.
For MM's to post a trade, they need another entity to swap with. So two MM's can trade shares, or can buy/sell to a retail customer like us. I've heard they do swap shares between themselves, reason being if you're short and have 13 days to cover, when your time is up you need to buy the same amount of shares you're short. But then you can sell/short em right away again. Makes for a nice cycle when multiple MMs or shorters are working as a team with constant sells.
A buy can be posted as a sell too, which I find irritating, they just skim a little off the top and call it a "sell". That's been happening around AUCI a bit too I believe.
Last week the chart was set up to bust out, and the volume came in a big way but there was an eternal well of cheaper and cheaper shares to be bought. The cause of that is mysteriously disturbing. However I've never seen a stock get crushed this bad this fast without dilution, without a big rebound due.
Originally at .60, this stock was begging to get a "correction". It was over valued, with some 19 million shares X .60 it had a value of $11,400,000, maybe a bit high for a company just getting started. But now at $300,000 or whatever the company and shell are worth alot less than the shell, so I'm hopeful.
There has to be a big short position or massive dilution. Nobody is profiting from selling bought shares at time lows, over and over...
Fully agree. I couldn't imagine paying someone $25,000 CASH to spam some E-mail addresses lol! Write a fluff piece. Man I'll do it for $5,000, just E-mail me. Unclever but i guess it works unfortunately.
The CEO just had 6 million shares come off restriction. He was asked about this and said he's not selling any of them now, they're not in the float. True float is 25 million, he claims to hold 6 million of that, and Gotox's boys claim to hold 5 million more. So float should only be 14 million but it sure don't trade that way, do it?
I'm still giving the CEO benefit of the doubt at this point and watching eagerly. If it's the assets dragging the stock price down, they could sell the shell and make $1 million, a 2 or 3 bagger from here hehe.
From the disclosure, the company has paid $25,000 to WSCF to pump it. And lots of shares went to them several times to do the same, by a third party yes, who probably received shares from the company to pass on, insider shares that were granted not paid for. Ron Berman? The company has paid for at least 1 pump and probably all IMO. That disclosure blows my mind, never seen anything like it.
WSCF has been compensated a total of Two Million Three Hundred Thousand shares of ER Urgent Care Holdings, by a third party (Ron Berman), who is non-affiliated and may hold a significant position in the stock. WSCF has sold Two Million and Sixty Thousand of those shares, as of this release, and also intends to immediately continue selling these shares as this release is being circulated. WSCF has been previously compensated a total of Twenty Five Thousand Dollars in 2007 by the company, for services provided including dissemination of company information.
What's the good news part? Not the 5 million given to the pumping crew... thanks for the info either way
Thanks for this warning, good post. Stock's starting to look attracting but they're toxic dilluters, it could bounce but not a good company leadership to get involved with it looks like.
You will not be able to lift your restriction now. I actually hired an attorney, and got a letter of opinion, sent in all my paperwork. TPDI said "NO" when called, AFTER all my stock was sold. My broker Wells Fargo bought it all back by force. Now I owe $5,500 to Well Fargo because they bought it all back at crappy prices. Be careful and don't get burned like I did. The company was ok with selling it before, but the new CEO will not let you do it.
Sure hope they come through with some big orders and uplist, and this all turns out to be real. It could be huge or not at this point, not enough confirmed facts to tell. But the Chinese hirings are encouraging IMO.
You know... the shorts, or MM's did a veeery good job of trying to cause a shake this morning. No bids went through, then one drop to .025... I almost bailed! Glad I didn't tho, hehe.
It truly is madness. Pinkyland madness at it's finest/worst. But there's just no more pennies to lose from the price here! Are we really going to go sub-penny with a 25 million share float? lol!
I feel better riding this train wreck out than most. Haven't heard anyone claim the CEO is a lying diluting pig, and if they PR'd NO DILUTION I'll hope they're telling the truth, meaning there is nowhere to go but up.
While it appears there are "sells" and "buys" as the price goes mostly down but sometimes upticks... those can all certainly be dumping by one person, mostly. I agree a few panic sellers were probably in the mix too, but... just because the price upticks a little doesn't mean it's not dumping. Just means someone is willing to pay .016 for a share instead of .015.
Anyway here's hoping this ugliness is at it's end and we got a buying opportunity that will quickly heal up. Let us know what IR say!
2 million shares dumped today. Supposed dumper only had 2M to dump, right? Therefore we should go back up. We'll see... if there is more dumping someone needs to get lynched.
Looking strong, I'm in for 20K at .025.
Some seriously violent trading. Wow!
This is a brutal tumble taking place... someone needs to pay a visit to our resident dumper. Get it over with, Ahole!
Good post. Things are certainly at a peak of chaos, but there is NO pump from the company which balances the mystery. They're obviously not selling shares, diluting, etc now, volume is low and the price is stuck.
If Pedro is really going to step up and grab the reins, that's awesome. Jim wrote 1 good PR, but didn't do anything else of significance, maybe he was a slow mover and Pedro simply asked him to step aside.
I certainly agree that a PR should have been put out, but thanks Pepsi for being the messenger. I would expect a PR is in the works and we'll get an update soon, wonder why it was so important to get the news out today? Not a question to Pepsi just thinking out loud.
It does, I'm hoping some shorters are in there, starting to feel the pressure. They're probably not going to be able to cover under the low .03's, so this could be a real fun ride!
The chart looks EXCELLENT btw, reversal just starting to become evident in the ADX indicator. With a little more volume we should be golden for the next month or two IMO.
A friend on another site has been speaking with the CEO regularly. I asked him about the apparent dilution - he responded that he asked the CEO about it. CEO was given 6 million shares (taking the float from 19 million to 25), that came off restriction recently. But he's certainly not selling down here in the basement, so there is no risk of dilution for the immediate future it looks like. Certainly looks like we found bottom, gj folks. Wish I had more shares but I don't like to go in heavy when things get this scary! Don't ya all wish you bought those bottom feeder shares at .012 yesterday, available for all of 30 minutes?