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Sunday, December 03, 2006 4:21:31 PM
1. Naked shorting by MMs is “normal”, called “market regulation”, should be closed in 3 days, but never is.
2. Frankfurt is the main tool for naked shorting, that’s why “moving to Frankfurt” is almost always a red flag. NWOG started Frankfurt trading in April this year… rings the bell?
None of these activities could be “enumerated”. Again, I probably missed something or cited it incorrectly, but you got the idea. Pink Sheet markets are unregulated, corrupted and should be avoided by any “real” business. Although, NYSE listed dividend paying stocks have the same problem sometimes.
Just because Julia reads this board, I will re-iterate:
1. NWOG should finish audit and get “fair” appraisal.
2. Based on this value and OS number calculate “fair” share price. Let’s say it’s $1.0.
3. Announce cash tender for the entire US float at $0.8.
4. Start trading in London from scratch – new company w/o pinky ballast.
IMO.
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