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The SEC regulations will not stop at Caveat Emptor, by June and at the latest September...Pink No Info will follow the way of Caveat Emptor stocks.....in which no broker will allow buys. Thus, the average joe trader will not be able to purchase ANYTHING that is not up to date and current. That being said, one of Lazar's shells.....PGLO just went Pink Current. That is a good sign. No merger has occurred yet, although the shell has been sold. If shell custodians take the initiative to catch up on filings/get current and there is a market for the stock prior to merger.....there will still be money to be had. It will just be a new "bottom floor". I guess we will wait and see how it plays out. Interesting that you mentioned DC*DG/GR*NF I was in that one early....made a boatload. Good times.
When many of us find motion for custodianship filings......some buy at the outset if it is a good looking shell/good share structure etc. Some wait to see the result of whether or not the claimant is granted custodianship. This is the bottom floor. Most of these shells are no info/limited info/caveat emptor. Therefore....in future motions for custodianship....you or I will no longer be able to buy in on the bottom floor in custodianships or reinstatement plays. We will not be allowed to buy on the expert market (makes you wonder who will be allowed to) this is where the real money is made. We will no longer have that time to read filings and accumulate. We will have to wait until the custodian catches up with filings or as you said, the merging company may buy the shell and be the ones who catch up on filings. By the time all of that happens.....the stock opens up at a much higher price and most everyone knows what is going on. The difference between the bottom floor and how the process will play out now is possibly thousands of percents $$$$$. You may be lucky to break a profit at all. It sucks.
Great post. Depressing, but totally accurate. I have already made the decision to stop trading the OTC as of right now (after many years). I see the writing on the wall. As a long time trader, it is very upsetting seeing this happen to a market I have spent so much time on. Our government is taking away yet another avenue for individuals to be successful.....wealthy even. I guess I will have to find something else.
Yes.....more like adapt to not being able to make money in the OTC market in the future. I am not planning on buying anything in the OTC from this day forward. Too risky. I only have a couple of CE's, but alot of Pink No Info stocks so I am really going to have to look at what I might want to sell. I predict a huge sell off in CE and Pink No Info stocks in the coming weeks and months. The OTC is officially dead.
Either way, future custodianship/reverse merger plays are dead due to these regulations. These are some of the most profitable plays in this market. Gone.
It really seems as if many of these IHUB boards have been quiet lately. The cam before the storm I guess. Maybe most see what is coming. Very unfortunate. Many said that it would never happen....now it's happening and
it seems that there is really nothing that can be done about it. Well, i'm logging off for the day. Talk2ULater....
It did'nt say....but most likely those will be next. The fact is, they are severely limiting every OTC investor's chances to make money. That is never a good thing. In fact, I would say that they are just about eliminating our chances completely. Nothing will ever replace the OTC markets.
Yes...it does. Anyone who thought this might be a good thing has no idea what they are talking about. This kills not only shell plays but the majority of trip zero plays. One person stated that before long they may not allow people to buy stocks trading under .10 I am sick about it. Any one who has made good money in the OTC should be mad as hell.
As we already know....so many of these shells used in custodianships are not up to date on any filings, they are mostly all Pink No Info thus....we may be able to find filings early but our hard work to do so will not matter as the shell stocks will not be accessible to us to buy. They are killing the market right out from under us. Very soon, I am most likely done playing the OTC. I see the writing on the wall. Big Brother strikes again.
Ugh....I saw that one's revival filing but did'nt buy. Stoopid.
I would have to go back and read the Amendment, but I recall that it is directed at both CE and Pink No Info by Sept. Most brokers seem to be enforcing/restricting buys on CE's now.....so I imagine Pink No Info is not far behind. Pink Limited Info is my own speculation....I do not think it will be far behind the both of those. In custodianships.....had this amendment targeted CE stocks (ones that have not been reporting for a very long time) it might have been survivable, but so many of these custodianship plays are pink no info.
I am loaded up on PGLO. As far as why there is little action.....it could be due to uncertainty about the future of the OTC in general, what with all of the new regulation and restrictions on buying.....that will soon extend not only to CE stocks, but pink no info and pink limited info. Most shells/custodianships are stocks with those designations. These plays are soon coming to an end.
Exactly.....well said.
Exactly. What they are doing is big brother at it's worst. They are regulating the OTC to death. I am shocked that more investors/traders on IHUB are not outraged. I have made hundreds of thousands of dollars from some plays by finding filings early and seeing when a reverse merger or custodianship is taking place. Now....if I find filings early, the stock will not be available to me. Reverse mergers/custodianships and trip zero plays can be some of the most profitable in the OTC. These regulations kill those plays. Those plays are actually safer than many active, reporting companies who dilute to keep their businesses afloat. The OTC is not like big board stocks....most of us do not get into these as long term investments. That is suicide. It seems as if many on IHUB do not seem to care. Soon it will be too late. There will be no $$$ in OTC plays.
Some of you guys have been quiet on this. What do you think about TDA and Scwab now saying that they will no longer allow buying CE stocks? They were the last two holdouts, I believe. Did you know that the new SEC regulations will also include no buying of Pink No Info and most likely, Pink Limited Info come Sept? Have you ever noticed that the vast majority of reinstated stocks....or custodianships leading to reverse mergers are often Pink No Info stop signs? They are killing our OTC market guys. One poster on here said that he has even seen restrictions on buying anything under .10 so I would not be surprised to see that coming soon. Reverse merger plays and trip zero plays will soon be dead. My question is this.....WHO on the so-called expert market will be allowed to still buy these shells/no info? Insiders with special info? The average joe will not be able to buy these anymore.....but privileged individuals will. How is this not illegal? Why are lawsuits against the SEC not flying left and right? Are we really going out like this?
??? I do not understand this word salad. Sorry.
Yes, I think you basically posted everything I just said. While you may be focused on IMJX.....I am looking to the future of the OTC in general. They are destroying it.
LOL....I don't know who "Boss" is, but no, I am not posting wrong info. Who is your broker? They should have already informed you of this.
Um....yeah, along with Charles Schwab, TDA, etc. No brokers will allow buying on any CE stocks after May 25. They plan on Pink No Info stocks being next. Then Pink Limited Info probably after that. This means no one will be able to buy.....and yes, they will stop trading at some point.
Doubtful. I think some of the brokerages were holding off as long as they could....but now it is happening.
Average joe traders will not be able to buy through the expert market.
All of them. No brokers will allow buys on ANY CE stocks after May 25. Here is the problem....Pink No Info is next.....then it will be Pink Limited Info. Not only that, but they have stated that if they suspect a stock pump (abnormal volume pouring into a stock).... even if it is by a third party and not the company, they will suspend that stock. This will not stop at Caveat Emptor stocks....they truly want to kill our OTC market. When they stop trades on CE and Pink No info, that effectively KILLS all reverse mergers, custodianships and trip zero plays. These are some of the most profitable plays in the OTC. I am surprised there has not been more outrage on these messageboards.
For right now it is just CE (caveat emptor) stocks. But I remember reading the regulation/amendments.....and Pink No Info is next.
After May 25.....basically no where.
This is what I would like to know....all of the major brokers will not be allowing buys for CE stocks, yet the expert market for greys will continue to exist. If the powers that be are now eliminating access to the average joe traders like you and I......WHO is going to be allowed to still buy these CE stocks on the expert market? Please enlighten me. What privileged individuals will now be making bank based off of insider information buying and selling the stocks that were once available to all of us? Who are these "experts"? Why are lawsuits not being filed against the SEC? This stinks to high heaven.
I first caught wind of these changes a year or so ago. There was another fellow on Twitter that was warning people....I wonder how many people took the time to write to the SEC to protest the changes. Many were saying "it will never happen"......but here we are. They are trying to kill the OTC. These changes will kill reverse merger/reinstatement/custodian stocks and most trip zero plays (these are probably the OTC's most profitable plays). The OTC is toast.
Agree....
Right now, what is happening is that we are seeing the most profitable plays dry up. Like I said, the amendment kills reverse merger/custodianship plays (those have been the most profitable for me) and trip zero plays.
I remember when the SEC announced this amendment and all of the changes coming. Some of us wrote to them with our disapproval.....but I wish there would have been a bigger backlash against these changes at the time (not that it would have made a difference, but still) I will not be surprised to see more regulation in the months and years ahead that totally kill the OTC market. It seems to be what they are gradually trying to do.
TD Ameritrade and Schwab now eliminating buys on CE (Caveat Emptor stocks) after May 25. This is going to effectively kill trip zero, reverse merger, custodian plays. Just got the warning from TDA in my msg box.
That's the plan LOL.
I am still in.....but have no clue as to what is going on LOL. Haven't been following it. I know that there was some interesting volume on it some time ago. Lazar filed for custodianship but the company blocked it.
I can see them killing the entire OTC market here in the U.S. before long....it seems as if that is the way it is headed. Regulating it to death and making it harder for peeps to make money.
We'll probably never know....
Thanks! I will check it out.
Is ZNNC a Lazar shell? For some reason....I recall hearing that it was but I do not see a trace of him.
I checked back on some posts from when the ticker change happened. Looks to me like the Russian company only wanted the ticker....and so the shell owner somehow transferred the ticker to them and then changed ours. I have never seen that done before. It's a shame too....because if this Russian company (they are known as the "Russian Amazon") has did a standard R/M it would have been one of the biggest R/M's ever. Very screwy.
I checked back to some old posts from when the ticker change happened and all I can say is wow. If that Russian company (that is now OZON) had done a standard reverse merger, it would have been one for the record books. All they wanted was the ticker. I honestly have never seen that before LOL.
I think I bought this from looking at DDAmanda.....but I was'nt aware of the story here. Stock symbol was formerly OZON. A large Russian company somehow took that ticker and IPO'd. What we own then changed to CYPS. Very strange LOL I don't think i've seen that before. No reverse merger....they just bought the ticker?