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I'm looking to add a few more shares to my position today, if I can get them at .0001. Looks like the ask is at .0002 with no bid at the moment. I know this is a gamble but I still think this is good for a quick double or tripple. I could be wrong and it wouldn't be the first time. GLTA
I think everyone here agrees with that.
I was away from the computer today so I'm still catching up, but I'd like to pick up a few shares around .004 tomorrow or Monday, if opportunity presents itself, and pray for some volume and a nice bounce.
I doubt any court, in America at least, would give at attorney or law firm a public company's main asset for revenue because of unpaid legal fees. Does anyone know anything about this lawyer or firm? Hopefully, Mr. McDonald is doing some advising!
PR Newswire - November 14, 2007 9:00 AM ET
eWorld Companies, Inc. (Pink Sheets: EWDI) announced today that A. Melvin McDonald has been appointed to the Board of Advisors of its wholly owned subsidiary eWorld Entertainment, Inc.
Agreed. They're not required to issue a pr in this situation. So why else would they waste their time and money doing it instead of just going forward with legal action? My attorney friend also told me that the firm will have to file a motion with the court for the receiver and it will probably take some time before or if it's granted. So like I said, I don't think this is as bad as it appears. How can it be, the stock looked better today than yesterday. More buying at least.
I'm in at .0001. I have't lost anything but my broker fee until they announce a RS. I like my chances. And it's ok if I'm wrong, I only bet what I can afford to lose.
Tag it how you want. I'm pretty realistic about things. If this is a real company and they do have a bright future, as advertised, there is no way that any institutional investor would ever touch this unless they do a reverse split at some point in time. Institutions typically don't invest in subpenny pinkies. I'm not here preaching "long and strong". I'll be happy with a few upticks and bid support.
Of the three definitions of the term "receiver" I just posted, I think the first one applies here.
receiver n. 1) a neutral person (often a professional trustee) appointed by a judge to take charge of the property and business of one of the parties to a lawsuit and receive his/her rents and profits while the right to the moneys has not been finally decided. Appointment of a receiver must be requested by petition of the other party to the suit, and will only be authorized if there is a strong showing that the moneys would not be available when a decision is made. The funds are held for the prevailing party. 2) a person appointed to receive rents and profits coming to a debtor either while a bankruptcy is being processed or while an arrangement is being worked out to pay creditors, so that funds will be paid for debts and possibly available for distribution to creditors. 3) shorthand for one who commits the crime of receiving stolen goods knowing they were obtained illegally.
Only way it get's worse from these levels is with a RS.
I just got off the phone with a pretty close friend that's an attorney. She said "receiver" is usually a term used in backruptcy proceedings. Leads me to further believe the firm is using certain terms in this pr to gain leverage of the company and possibly forcing them to settle the debt or else more of the same. Just my opinion.
They sound pretty pissed but I don't think it's all that serious with respect to the near future of the company. If they do file suit and litigate to recover legal fees, it'll take a while to resolve and even longer to collect. I'm sure I'll be out of this stock by then.
Will look to get in tomorrow. Risk here is relatively low for the price, imo. If I were ever to put money into a stock and walk away, which I wouldn't do, it would be a company like this or OPK (they have a billionaire behind them). I like Kevin Spence's track record here. Hopefully this heads back to .40's soon.
"as a result of the company not having the ability to pay its debts as they arise in the normal course of business".
Should they even be commenting on the company's financial situation in regards to the normal course of business? That seems very odd to me. I thought debt and the course of normal business would fall under accounting. Does anyone have any thoughts?
I'm tired of all the "expert" opinions every day of how we have hit the bottom and we keep going down.
May I suggest doing your own dd. You should take opinions as just that, "opinions"
Now they have 50% ownership of what?
That's always a possiblity down here. I'd say out of a hundred pinkies, 99 are good stories and one might be real. I bought some shares this morning and might add a few more tomorrow morning. Hopefully, we'll se some bid support in the coming days.
look at hcpc again today. No bid last week and ask was .0001, pps now at .0005
Again, I'm not saying it's the same situation, just that there's a chance. GLTA
Hopefully a good sign indeed. I just got in for a small position.
I can't speak for everyone but I'm waiting for the next pr and hoping it's a good one. Good news after the hearing tomorrow combined with a little volume and this has a chance to run. Bad news, and we all know what will happen. I've done as much DD as I intend to do with this stock, placed my bets, feel good about my chances and am ready to see what happens.
Did the company announce a rs? Or is that just what everyone is speclating will happen to this stock going forward?
I tried to get a few shares this morning but the ask went up too fast to grab some cheap. May try again tomorrow. If news ever does come, this really has a lot of potential and will move fast. Thanks to everyone whose DD on this board helped me DD. Great stuff.
I don't think anyone here believes this isn't a pure speculation play because at this point I don't think anyone knows what will happen. I personally do my own DD and verify what others have to say. Not everyone does that. I also believe negative information should be out there for discussion but not repeatedly directed to. Discuss it and move on. For the record, I for 1 am not naive and do believe that information on a board like this can cause people to buy or sell and affect the PPS of a given stock. At any rate, this play is a gamble for me and nothing more. I will be out as soon as I have made enough money or lost enough money. Hopefully, we get good news soon and everyone is a winner in the end.
I agree with you about having a fair and balanced board. However, at this point in the game, when a new poster comes along and all of their questions lead to a negative, it raises concerns about their motive.
looks like it is close to the bottom. Should move back up soon imo.
If the hearing goes well tomorrow, this will move with a little volume. I'd like to see the company issue a pr Friday or early next week with some updates. Depending on pps in the morning, I may get a few more shares and bet the news will be good. Good luck to everyone, let's have a green Christmas!
His story never added up. He said, he bought at .12 and is long. What I think he meant is, he shorted at .12 and is concerned.
I certainly hope you are right. I got in a little early at .16 on Friday. I don't think .16 was a terrible entry, just that in hindsight, I could have waited another day and gotten more shares for my money. Anyway, let's see green today.
From what I understand, they are appealing the initial outcome on the pension issue. It's also my understanding that the company is trying to settle it in a way that is fair to all parties that are owed debt. You can find this information on their website. So, yes the pension issue is going to play a role in the restructuring. How big of a role is the question.
Hey, we're all here for the same reason, green. So good luck. And me too, if this thing tanks so be it. I'll take profits when I can, and get back in on any dips. The risk is there but the potential reward justifies it in my opinion.
I pointed out the similarities yesterday. I'm going to follow EWDI closely over the next week and a half. If the ask touches .0002 with no bid and then back to .0001 with no bid, that will be an idication for me that it's going to move up again. My opinion is, it's a wait and watch at this point but could be a quick double or tripple.
If your target is 15% and you are long, as you stated, I'd have to believe there are a lot less risky stocks out there for you. Also, if you got in at .12 and assuming 15% really is your target, shouldn't you be out already? At any rate, good luck and hopefully in the end we are all green.
Look, you invest how you want. I just think investing in a stock that you think is going nowhere fast is pretty silly.
The other day he posted that this was a big risk and will stay around the low teens and drag out for a while. I guess that's why he jumped in and is now long. Pretty funny.
best way is not doing it at all! With all the interest in their company and their product that they reportedly have, why can't they get funding through another source? I think management has to be aware that they will lose a lot of investor interest as an end result of a r/s and will do everything possible to avoid it. I would hope at least.
That's definitely the only way to play down here. I was following HCPC recently due to speculation that they were going to close some loans by EOY(they do commercial loans or try at least). Anyway, I saw the same thing happen to it last week. Shares in the 100's of millions being traded in one day and by the eod the pps was .0001 with no bid. I haven't checked to see why or what happened today, but it's on my streamer and at the close today pps was .0003 with .0002/.0003 bid/ask. That's 100% gain for those that bought when the ask was .0001. I'm not implying that this is the same situation, just that anything is possible, including a R/S.
What seems to be overlooked often is that this is pennyland. There's nothing wrong with being long. Just make sure you take profits when you can and reinvest on dips. I've been trading long enough and have learned this lesson the hard way. Now I stick to the rule, take profits. As I said earlier, I'm going to do a little DD tonight and if I feel like they won't rs near term, I'll be in tomorrow. Good luck to everyone.
Don't know what is happening but if they don't reverse split this will be a good play to make a quick buck short term.
Take a look at HCPC. Did the same thing last week. Bid/Ask at close today was 2/3. I'm not in this one but may throw something in tomorrow.
I believe you mean Thursday morning.