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Yes that's essentially true. I sent in certs, and Panamersa took the certs -in my name- and gave me PDRs that represent those certs. I own the PDR, and the PDR is made of the certs.
I think physically the certs were deposited in the HSBC vault, which of course we cannot verify.
Either way - they are NOT selling the cert with my name on it.
Well you're wrong about a few things.
1) An auditor DID sign the financials, and they were audited. We just haven't seen the complete audit, but I've seen the document showing an accountant signed off on it.
2) Profit is mostly in Panama, and US taxes don't apply. I'm not positive on this, but I think that's the situation.
3) What do you mean, "I am asking you if they have shown you there is a cert backing up the PDR."?
I SENT THEM the cert. I know it exists because I had it first, lol. How do I know they haven't resold it? Because it HAS MY FRIKKIN NAME ON IT! Lol, if anyone was sold a cert with my name on it, please return to me!
All this mumbo jumbo about verifying, monitoring is silly because it's the fundacion is private, therefore cannot be verified by outsiders. Is that the answer you were fishing for? IT'S PRIVATE. I hope we all understand the ramifications of that word.
It would be illegal per Panamanian law to sell assets in a foundation without consent of the beneficial owner. Their deadlines have been unreliable for some events, but they don't break the law.
You still own certs w/medallion after you turn them in. Each PDR is backed by 10,000 shares of PNMS. They CAN'T resell them, they are held as the underlying asset of your PDRs.
They're not "recycling" shares.
Heavy man...
"...I need your help to make regulators turn on the lights and protect investors from the menace of hidden short selling in the OTC market.
So begins an open letter from R. Cromwell Coulson, Chairman and CEO of the Pink Sheets, in which he joins the fight against corruption in the stock market by calling for OTC companies and their shareholders to petition the SEC and NASD to change short selling disclosure rules to include OTC and pink sheet stocks."
" In an interview with The Faulking Truth today, Coulson said, "Naked short selling is a contentious debate, but I think that anyone on either side of the issue will agree that greater transparency will help alleviate the problem, and those who don't agree are involved in the fraudulent activities themselves. A lot of companies claim to be victims of naked short selling. By turning on the lights through greater transparency, we will very quickly figure out which are and which aren't. The little companies deserve the same protection and transparency as the larger companies. This is a taint that SEC regulators can easily fix through better disclosure." "
Like he said - the Pink Sheets is the Taint of the stock market, lol
If they didn't have the PDR exchange, sure, I would agree. All the companies out here are in trouble. How many people can list 3 pinkies that did well over the last year and held?
PNMS has been affected by the pink poison, but is getting out of the game. Once all the float is accounted for and migrated to the PDR exchange, none of this will affect us. At least, that's the plan.
Valid question, and I think it's a combination of both. Probably 60% are junk companies printing paper. The other 40% are robbed by shorts and MMs. All IMO.
I've seen a lot of good looking companies with their head on straight make a run at it, which I believe was in good faith, with mad support from shareholders - and the share price just continues to take, with huge volume. MM's making buys look like sells, mirror trades, reversing order, and shorting when the buys come on too strong.
That's why you don't see pink sheets companies make big gains and KEEP them. Anytime a bagger pops up, it lasts what, a couple hours? couple days max? they never hold water.
Oh, the incessant flipping doesn't help either, it is the final reason nothing can hold gains here. Which in sum makes for a total junk market, where long term investors *always* take it in the rump. Or almost always, at least, a lesson I learned the hard way.
An innocent, healthy perspective here coming in and saying "I'll find the next big thing before it takes off, invest big and wait" will certainly get crushed time and time again.
So for various reasons, the pink sheets market is rotten to the core, with shared blame. But even honest companies stand a slim chance, with the SEC playing the role of the retarded little brother who was given a uniform and nightstick.
Very interesting story there Tk, I hope ours turns out parallel. Shorts or not, it'll be great to get away from the pink sheets market which is rotten to the core.
Can't expect the new guy to throw MT under the bus and keep his job. Got to play nice, and fair. As stated - give the guy a chance.
OTC Daily List has an update here. It looks like if you own ZNCMP Preferred shares, you get common shares. But nobody is buying/selling ZNCMP so might be nothing of interest.
-- Ex Date: 8/29/2007
Record Date: 8/31/2007
Payment Date:10/1/2007
Dividend Type:
Stock Div. payable in another company Dividend Amount:
.09
Notes:
Payable in shares of Zunicom, Inc. common stock (BB: ZNCM)
MAKE THE CALL you whoos!
My god you'll DD the phone number to death before actually calling it... like a cat dipping a paw into a bathtub. SHE CAN'T HURT YOU... lol
This is funny to watch :)
Exactly. And I'd much, much rather have private investors getting in to support the company than have shares dumped at bottom prices, when we could have that money go in as a loan, and have the share price rocket.
Who the hell is selling at .0002? Talk about panic selling...
Lol exactly - if I were in Panama, I would think people are CRAZY for investing in the US markets! Aside from the fact that the whole world agrees and our markets are crashing *sob*
I'm sure that's what he meant.
Right on Pepsi! Be sure to give us some updates when you have them, very cool you're down there to report back.
Hmm I wonder how many "neverminds" you can get for 140K?
Also figure that the current store Timeless Sports is selling random sports stuff. They don't have any Denver Broncos exclusive merchandise printed up yet - that is going to be the main advantage. With the exclusive rights, they'll be making a ton more. Especially considering they are profitable (at all) with regular merchandise.
Great news today - I mean the PR, and yes maybe Big Apple biting the dust as they deserve.
Sooo if sports memorabilia is a $2 billion a year market, and they think they can get 1%, that's a nice $20 million per year. It would be quite sweet if that's what we're making here in a year or two. Maybe idealistic, but even a fraction of that would send us to the big time.
I don't follow either of those, so not sure. I really wanted to get in on Opticon, but now that it's passed and they messed up, I won't be buying any for a while. When the next div comes out for RIMM tech, I might be back in tho. I like their subsidiaries.
Aren't all the posts here stated from a position of 100% correct knowledge? Lol lord knows all the basher posts are written from "I Know All" perspective. And if we were counting, the basher points get torn limb from limb daily, but that doesn't slow them down.
Nope I'm just speculating, like everyone else. It makes sense that if the financials represent older timeframes, that the CEO during that time would sign, not the new guy who's been on the job 2 days. Just common sense if nothing else.
Good point cause - that should be the final point in that debate. The financials were concluded BEFORE new CEO took over. Therefore it is 100% appropriate that MT signs them.
They actually responded very quickly. New PR out, no dividend for us tho:
"ST. PETERSBURG, FL, Aug 15, 2007 (MARKET WIRE via COMTEX) -- Hathaway Corporation (PINKSHEETS: HWYI), a company that focuses on acquiring, developing, and managing disruptive technologies in the telecommunications, medical devices, and software fields that change the way companies grow and service their business globally, announced that NASDAQ has just informed the Company as of 2:40pm ET today that it has determined the ex-dividend date for distribution of the OptiCon Systems Inc. shares to be the 13th of August, 2007.
Anyone purchasing Hathaway shares prior to the 13th of August 2007 will be eligible to receive the dividend payout for OptiCon Systems Inc., according to the previous ratio released. The dividend shares are expected to be free trading as a result of OptiCon Systems' registration under the Securities Exchange Act of 1934 and the facts in connection with the dividend. There will not be a trading market, however, until the NASD issues a trading symbol. OptiCon Systems cannot predict when this may happen.
Those purchasing Hathaway shares after the 13th of August 2007 will not be eligible for this dividend.
"We apologize for the confusion caused by NASDAQ's late notification, but are bound to adhere to all of NASDAQ's rulings," Paul D. Lisenby, CEO of Hathaway, said. "
What are you saying Fonz? That PNMS doesn't really have the shares of Desimplex? Explain how you think it went down for the rest of us.
Yep that's a pretty good summary there, agree. Of course the phanton shares is debatable, but the rest are 100% for sure.
If you read the financial statement, you would see an update on the venezualan bonds at the bottom. I found two things interesting.
First on Desimplex:
"As part of the joint venture (with Desimplex), the company (PNMS) has purchased 20% of the common stock of Desimplex, payable over three years. The company also has acquired an option to purchase an additional 29% at a rpice to be determined later".
This is sweet, we already have 20% of all the Desimplex stock! With option to own 49% total. While we haven't paid for all of it yet, it looks like we have the stock and have paid for some of it. Good news here! The company obviously has money if Desimplex handed over 20% of all their shares.
Next, on the bonds:
"In January 2007, The Company purchased a series of Petrobonds Venezuala through the Fundacion Panamersa Panama at preferred discount rates. These bonds mature at various dates beginning in 2009. The purchase price was $29,400,000, which had been held in escrow in the Fundacion for this transaction. "
So they mature in 2009. READ, OA, READ! As someone once said - god gave us all 2 ears and 1 mouth. Use them proportionally.
Wow I just got a reply from HWYI, that was fast! They agreed, the NASD didn't communicate well with them, they are going to post another correction. You CANNOT get the divie by buying now. Good for HWYI, fixing it so fast after being notified.
I called the company, E-mailed them twice, and left a message with IR. I couldn't get ANYONE on the phone at any of their extensions, can only leave a message. But the numbers to try are:
(817) 812-2104 - main line
(817) 812-2105 - IR line
Sure, I hope they send out a corrected PR, or re-schedule. I'll bet they do nothing, and open the door to lawsuits. If I bought based on an ignorant/false PR and didn't get the divies, I would sue!
For a company that does nothing but spin-off, they sure have alot to learn.
If anyone say the last 2 PRs, they are completely wrong on the dates. HWYI said:
"Anyone purchasing Hathaway shares prior to the 31st of August 2007 will be eligible to receive the dividend payout for OptiCon Systems, Inc, according to the previous ratio released."
I just called the OTC/NASD, and confirmed that HWYI is WRONG. The ex-date has passed, which was 8/13/2007, and new buyers will NOT get the dividend. This is 100% confirmed! It doesn't matter what the company says, they are completely clueless. DO NOT BUY.
If you want to verify this yourself, call:
OTC Data Operations - 203-375-9609
Funny how these things work, ain't it? BTW I think one can still buy today and get the divie, but not sure, there have been mixed reports saying today/tomorrow.
Anyway doesn't matter to me I'm HOLDING my 20 million shares, definitely not going to dump for a huge loss, I have decided. I would rather wait a week or two or three and get some flipping opportunities.
We don't know ANYTHING about how profitable these new deals will be, no projections or any numbers whatsoever to work from. Boondoggle expansion could be millions per year. Broncos could be millions per year. Child network thing, I know nothing about. But I see that EVSY is supporting the last 2, which is awesome - there's strength in numbers.
There's so much we don't know, CEO has kept a tight lip about deals until they are signed, unlike alot of other pinks, despite people's criticism of him (most of which should have been directed at Big Apple IMO).
Now that all shares have been diluted, and we're at the all-time low, nobody can sell and make a profit. Shorts would be retarded to short the stock now, after going from .06 to .0003, LOOOOOL
So the good news is - the worst thing possible has already happened, there's no more room to go down or be more negative. So why would I sell for a loss down here? Nobody has a motive to sell it down lower, panic selling is the only risk in the short term. If we hold thing will rocket back up to where it should be, which is many bags up. Not saying it will happen, but it should!
IMO Big Apple ruined this play for people. They dumped shares when there should have been a short squeeze.
Anyway, I found it interesting that EVSY is owning the UK Boondoggle expansion, which is going to be an aggressive campaign from what I hear. If Boondoggle does well over the next year, the EVSY dividend will be worth quite a bit.
Haha nice - don't go in too heavy, lol, baby steps
I just concluded a nice long talk with Theresa. I've got a few important questions in that hopefully Mike will answer soon, and I'll report back on those. But I also asked about an earnings report tomorrow.
The answer was - they're working on it, hopefully will be out tomorrow, and yes the numbers look very good, aggressively over last quarter's report.
As I predicted a 4-6 weeks ago - I think we are entering our "darkest hour". Price has dropped, and stabilized near the yearly low. I now predict we're going to start heading back up over the next couple weeks, and shaln't return to this dark place. Enjoy the bashing whilst u can.
Good post Luv, you leave us with respect, at least from me. I can relate, I've been bashing SLJB lately, but that's only because they robbed me and should truly go to jail (Petard that is). I generally just leave if a stock treats me poorly, but in those cases where it's crystal clear that a scheme was run and materials and contracts were fabricated, I'm out for blood.
I also agree this isn't one of those cases, and was also expecting a quick run in the short term and am currently dissapointed. But I still think we could have that run, as the company is seriously undervalued.
No, I haven't talked to CEO lately.
I started buying at .0007, and averaged down a few times. My average is around .0005.
I'm banking on it. The OS is obviously maxed, no more shares to dilute, I'm really surprised this much selling has taken place recently with only an increase of some 600M shares. Seems like billions have been released, and may have been if there is a short position (which would be REAL stupid right before a dividend).
But we've got 1 day left before any shorts should have to cover (or have some splainin to do). I'm holding nearly 20 million shares now, and seriously hoping this is bottom. Nobody on earth could profit by selling under .0003 now, is the good news. And the market cap is tiny.
I think it all depends on how the company behaves over the next couple weeks. They could make or break this deal with their next steps. There is obviously alot of market interest in the company and the Broncos deal.
Maybe, although I have an e-trade account and have bought millions of shares at a time without having to change any settings. Maybe I had my account set up before that rule went into effect. I've had it for about a year.
Someone's buying a ton.
Ya I finally got 5 million at .0002, after waiting 3 days. Patience is key - good to be back in (I was in TQWI last year and rode it down to the bottom of the barrel).
OA is wrong again:
Hard evidence that this company has growth (RECENTLY!):
1) Expansion of IR department
2) Roll-out of PDR excange (new business line - fulfilled contract with Desimplex)
3) New CEO hired, MT focusing on more specific functions
4) Hiring of SEC attorneys
That right there represents what, 10+ new employees. Does hiring new employees count as growth? Man you talk alot of $#*!.
BKMP deserves to suffer - not the shareholders, but the company does. I had 100 BILLION preferred dividend shares from them, lol...
About 3 months after I received them. They cancelled ALL of them. That's just criminal!
BTW I have alot of penny stock dividends, some are worth quite a bit. Probably more than half went down the tubes, but a few have done very well. It's a gamble, but they're free - I like it.
Ok let me back up and ask a general question to you - if there is rarely heavy shorting in penny stocks and it's a big farce... why is it that so many non-diluting pinks lose their value rapidly?
What else could possible cause a company with good news, investor support, and no dilution to slowly and consistently tank over time, to the point where nobody is making a profit by selling?
Only naked shorting could explain that, which is a pattern I've seen quite a bit in the pinks. I believe the NSS is hidden and the "short position" represents the legal shorted shares, which you say have been properly borrowed against.
I think it's hilarious BTW, that someone who made a living in a hedge fund (which hedges against companies - shorts them) would claim there is hardly any shorting around, it's all a myth from the paranoid. Kind of like a cop in front of a gory accident saying, "there's nothing to see here... move along"...
HEDGE FUNDS = PROOF OF SHORTING