vicsteele - I follow the teachings of Buddha
A few years ago, I read about a small Russian oil company that had a buyout offer of $2.15. I believed that I was quite fortunate to buy shares between $1.00 and $1.50. Most were bought at $1.50. I work honestly and sincerely in human services - helping those who cannot help themselves. My pay is weak and I am therefore required to work a second job. I sow good seed. I believed my investment in this honorbale company could help me pay for my rent and my daughter's college education.
They did not get bought out but instead merged. But, according to the PRs, this was even better. Thus, I believed them and waited. And waited. My hard earned savings fell from $1.50/share - my highest purchase price - to below one penny. It has been over $15,000 in losses. I am still waiting.
Where did I go wrong? There has been no buyout, no audit, no move to another exchange, no "real" NY office, no email response from the company and, since my initial pourchase, oil has gone from $60/barrel to $140/barrel.
Yet, my investment is 1/100th of what it was and 1/1000th of what it should be if 50% of what this oil company told me was true.
Where is Buddha now?