GBDP did a reverse split last night of 1:250. It was trading at .92. So it should have opened at $230/share.
It opened at like $1.65 (down over 99.2%) and has traded 23,500 shares so far today. in the $1.64-$3.00 range.
Let's see if we can figure out if it was another reverse split screw up or if someone (the company, or a big holder) is dumping shares.
Posted by PCola77 on :
Ok, here's what we know:
Average daily volume (according to alphatrade) is 62 shares. split adjusted, that means there were around 15,000 shares traded a day.
So far today, the equivalent of over 6MILLION shares have traded, or almost 40,000% of the normal daily volume.
Posted by stocktrader22 on :
what was O/S before the reverse split and after...
Posted by PCola77 on :
Interesting piece of info here. Looks like when people thought the WHKA stock crashed due to a restricted stock screw up, it was really due to managment printing shares. I hadn't followed up on WHKA lately, so I hadn't heard this.:
Global Developments Inc. (PINKSHEETS: GBDP) announces that it has cancelled its previously announced dividend of its holdings in World Hockey Association common stock and postponed it until further notice. Due to the significant decrease in the market value of the common stock of World Hockey Association (PINKSHEETS: WHKA), the proposed dividend became uneconomical with respect to the cost of notice and delivery to Global's shareholders.
Global has since learned that the management of World Hockey Association, commencing sometime during November 2006, began issuing large amounts of common stock. From November 2006 to December 12, 2006, the number of issued and outstanding shares increased from approximately 32,000,000 common shares issued and outstanding to 157,854,076 common shares issued and outstanding, the majority of which were issued to insiders and management.
Under the terms of Global's financing agreement with World Hockey Association, Global is granted a non-dilutive 40% interest in the common stock of World Hockey Association. Global has asked its legal counsel to commence an inquiry as to whether the issuance of this common stock was valid and legal and whether the management of World Hockey Association breached its fiduciary duty to its shareholders in increasing their personal holdings of common stock. Global will also seek to enforce the non-dilutive clause in its financing agreement with World Hockey Association.
Posted by PCola77 on :
Unfortunately I don't know. usually I track that, but I slacked off last night. Crap. Can't find it on Pinksheets.com because the first day or so after a reverse split they have it listed as "No info available for that company"
quote:Originally posted by stocktrader22: what was O/S before the reverse split and after...
Just sent the company an e-mail. I'll report if I find anything out.
Unfortunately, real work is now demanding my attention, so for the next hours or so (hopefully less) I won't be able to post anything (unless I find somethign earth shattering).
Posted by Jenna on :
I just sent an email too....I will call them in a little bit...
Posted by Jenna on :
I'm on the phone with the company- so far I have talked with 2 ladies-
they didn't know anything about the stock....
they did say that if we called back to ask for Dan or Layton...
she said they were away fron their desks right now....
So remember, if anyone calls back...ask for Dan or Layton
Posted by PCola77 on :
Still busy with work but jusy wanted to share this e-mail response. I forget what I had asked since it was an online form, but I said somethign like "Do you have any insight as to why the PPS price dropped so much today?":
"Thanks for your questions and we are looking into these matters right now. How did you hear about Global? Did you own stock prior to the rollback? If so how many shares? We would like to address these matters if possible and see if we can help you out further."
I wrote back again and will let you know if I hear anything.
Posted by PCola77 on :
Oh, and good job Jenna. Did you happen to leave a message for someone to return your call? If not, I'll try to call this afternoon if I get some time. Hopefully I'll get another e-mail back soon though with some more info.
Posted by Jenna on :
I did not...sorry...
Posted by PCola77 on :
Ok, I just got another e-mail back from the company saying that the O/S is 50million.
I asked for clarification, because I thikn he'd have to have meant that the O/S WAS 50million as of yesterday, and thus 200,000 as of today.
50million today would mean 12.5 Billion O/S yesterday, which would be a market cap of $11.5BILLION as of yesterday.
I'm pretty sure the O/S should now be 200,000, but I'll let you know if I get confirmation.
Anyway, assuming the O/S is 200,000, that means that 15% of the O/S has traded today, which is pretty high considering the average volume traded efore today was .03% of the float.
I'll post more if I get more info.
Posted by PCola77 on :
I'm surprised no one else is commenting on this one.
30,000 shares traded today is the equivalent of 7.5million shares yesterday. 7.5 million shares at $0.92 is almost $7million.
So either the company is dumping shares, (which according to the e-mail from IR they are not, but of course take that with a grain of salt...) someone sold what was $7million worth of stock yesterday for around $60,000 today, or someone sold pre-split shares into a post-split share structure.
Posted by Jenna on :
Any more news?
Posted by PCola77 on :
Just got out of what seemed like an endless meeting. Nothing from them in an e-mail, so i sent a follow up. Hopefully I'll hear something back soon, although I guess it doesn't matter between soon and market open tomorrow.
I saw that a few pretty good IHubbers have bought a few shares "just in case", and they seem to agree that thre's most likely some kind of screw up going on.
Will post more if I find anythign out, but at this point it seems like it's most likely a R/S screw up to some degree, although I can't verify it yet.
Posted by T e x on :
interesting...
hope you guys figger this out...good find
Posted by PCola77 on :
Well, I just got home from work a little while ago and still haven't gotten an e-mail reply from the company.
Today was too damn busy at work to make any phone calls (as evidenced by the fact that I didn't leave the office util after 9.)
And to make matters worse, I have a procedure at the hospital tomorrow from 9-11, so I won't even have computer access until like 11:30 tomorrow morning. I know I'll be sitting at the hospital on my cell phone to a buddy at work "What's GDVM at now?" "What about now?" every 5 minutes
So what's your take Tex, given the limited info? R/S screw-up, company or shareholder dumping shares at a 99%+ loss, or some other scenario that I hadn't though of?
Posted by T e x on :
Shoot...
I dunno, man...just glancing over your shoulder? I'd say the opening pps is for sure suspect...wassup widdat?
If I had time to track it, I'd start with the TA...
Posted by Vinnie on :
well, what bothers me with this stock is that before the reverse split the volume was like 25-100 shares per day. Thats not Kosher RAbi Tex!
Posted by SherriT on :
Here's my question - I know nothing about this stock just yet, but if it should have opened at a much higher amount, I would think anything in the $1-$2 range would be a bargain....?
Posted by SherriT on :
I couldn't get either symbol to come up on StockCharts...any other places you can suggest I try to help with the T/A?
Posted by stocktrader22 on :
ask at $11 now??? weird
Posted by JRB on :
GDVM
You can get to in MarketWatch.
Posted by SherriT on :
Yeah - I just saw that too....almost wish I had done my buy at the ask a moment ago...
Posted by Jenna on :
Holy schmoly...ask at 11.00!!!!
Posted by Jenna on :
It didn't open yet though so what's going on?
Posted by Jenna on :
St22- Did you buy this yesterday?
Posted by stocktrader22 on :
Nope.
Posted by SherriT on :
That is a lot of money for a pinksheet stock....
Posted by Jenna on :
Sure is. Somethings weird....
I bought 100 shares yesterday at 2.75...we will see what happens....
Posted by Jenna on :
From Ihub:
*************************************************
Posted by: Mike2112 In reply to: None Date:1/11/2007 10:44:11 AM Post #of 18
This is how I see it....
OS is now around 39k as last 10Q filing had OS at 9.9M (250-1 spilt) was trading at $1 prior to split and NITE sold 33k yesterday at $1.30-$2.75 yesterday before realizing his error now at 2.25 x 11. Current Market cap is 100k which is laughable......this is multi-multi bagger as market cap was about $10m pre split..LOL..remember AWYB and GLKC and PAIV..well NEXT imo!!!!
Posted by Jenna on :
Also from Ihub:
************************************************** Posted by: Buckey In reply to: Mike2112 who wrote msg# 17 Date:1/11/2007 10:50:40 AM Post #of 18
one caution is website ways 40 Million o/s before split - dont know how you go from 10 MM to 40MM in that short a time.
NOTE they did updatetheir website today to show new symbol. SO they are alive - just not awake yet I guess - They are on west coast. Maybe reality will sink in when insiders check the value of their accounts.
why the 250 for 1 R/s is what I dont get
Posted by Jenna on :
PCola77 - hurry up...I miss you!!!!!!!!!
Posted by Jenna on :
OH Snap! I forgot I had a buy order in for another 400 at 2.75 & it just went through all but 1 (weird) 399 filled....I sure hope this is the real deal!!!
Posted by Jenna on :
2.84
Posted by Jenna on :
3.00
Posted by Jenna on :
I can't believe noone is talking about this....
Hello??? *echo*echo*
Posted by Repoman75 on :
Only 16K shares traded.. risky
Posted by tmanfromtexas on :
I show on tda b/a of .65/.99. Is that right? TMAN...
Posted by Jenna on :
I got:
2.50 3.00
Posted by tmanfromtexas on :
I tried to put an order in at that price and it wouldnt take so i guess not. lol. TMAN...
Posted by Jenna on :
Repo- what do you think?
Posted by tmanfromtexas on :
i used the wrong symbol. sometimes i am just a dumbass. TMAN...
Posted by Jenna on :
LMAO tman!!
Posted by tmanfromtexas on :
I used the right one this time. Maybe PCola has found the gem of the week. Hope so. TMAN...
Posted by Jenna on :
From IHUB:
************************************************* Posted by: pcloadletter In reply to: None Date:1/11/2007 2:27:18 PM Post #of 97
GBDP - Global Developments Inc. Common Stock
Declaration Date:
-- Ex Date:
01/10/2007 Record Date:
-- Payment Date:
-- Dividend Type:
Reverse Split Dividend Amount:
1-250 R/S Notes:
New symbol (GDVM)
Posted by Jenna on :
So Tman, what do you think? How do they fix this? Adjust the PPS or what?
Posted by tmanfromtexas on :
I dont know. I saw on tda that their 52 week high at a post split adjusted price was $2502.50 back in April. I would take that. LOL. If those shares were put out with out authorization we could see some interesting movement. TMAN...
Posted by Jenna on :
OH my $2502? Can't be right....
Posted by tmanfromtexas on :
Jenna, have you tried to contact them today?
Posted by Jenna on :
No, not today but some guy from IHUb is actually going to the office this afternoon because he lives right near it....
Posted by PCola77 on :
Okay guys, my doctor's appointment was a nightmare. They started almost 2 hours late and the procedure lasted over 3 hours instead of 2....
Anyway, just saw that the company replied to me confirming the O/S of 200,000 which means almost 25% of the float was traded yesterday and so far today.
Here's my take, and only my educaed opinion based on all the info that we have:
This is a R/S screwup like AWYB. I thikn this one will take longer to "correct" because of the following:
On AWYB (and PAIV), people (like here and IHub)immediately saw what had happened and started buying up shares. THat is what caused the initial run up in the first few days. I don't think any covering happened in those days, which is why there was then another big run up later, when the actual covering started.
I think that because of the spread, and "high" (relative to what all of us normally trade) share price, not as many people are flooding the market with buy orders. I think those of us that bought some will be rewarded hansomely, but not right away.
To reiterate, this is all my opinion, but it seems to me like the only thing that makes sense.
Good luck to us.
Posted by SherriT on :
What is your best opinion on when?
Posted by Jenna on :
Let me inroduce my 2 buddies.....Sherri-PC...PC-Sherri...
Posted by PCola77 on :
No idea, sorry
Hopefully soon, but ya never know...
quote:Originally posted by SherriT: What is your best opinion on when?
Posted by SherriT on :
quote:Originally posted by PCola77: No idea, sorry
Hopefully soon, but ya never know...
quote:Originally posted by SherriT: What is your best opinion on when?
Thanks - this is the first time I have come into contact with a situation like this, so anything is better than what I knew before.... Posted by PCola77 on :
Some people over there were questioning whether the R/S truly went through as 1:250, but I am sure it was for two reasons. 1) The daily list on otcbb.com said it, and 2 the "Previous Close" yesterday said $230 on all sites, which is .92*250
Oh, and nice to meet you Sherri Posted by Jenna on :
Sher- Did you pick some up?
PC- so how do they "fix" this? Adjust the PPS or buy back shares - creating a squeeze? or What?
Posted by PCola77 on :
Buying back the shares.
Like when this happened to me with JPHC/PAIV, I inadvertantly sold shares that were restricted. I sold them at .0010 I think, and luckily acted quickly enough to buy them back at .0018 for "only" an 80% loss. Seeing as it went up to .28, I would have been out over a million dollars. That would have sucked a little bit... Posted by Jenna on :
Wow- you must have made a pretty penny on that....
but I believe you told me about that in detail like twice!!! As a matter of fact I printed out that PM & I saved it...I look at it every once in a while hoping something like this would come along...I hope this is it, my friend!!!
Posted by Jenna on :
PC- How high do you think this could go?
Posted by Repoman75 on :
quote:Originally posted by PCola77: Buying back the shares.
Like when this happened to me with JPHC/PAIV, I inadvertantly sold shares that were restricted. I sold them at .0010 I think, and luckily acted quickly enough to buy them back at .0018 for "only" an 80% loss. Seeing as it went up to .28, I would have been out over a million dollars. That would have sucked a little bit...
Yeah, you barely escaped...
Well, seeing how JPHC went for me ($3K loss), I'm not touching these "mistakes" anymore.
Posted by Jenna on :
What happened to you on JPHC Repo?
Posted by Jenna on :
Just dropped to 2.50
Posted by Repoman75 on :
THat merger was supposed to make us millionaires.. instead, the bottom fell out once everyone realized they were getting 2 year restricted shares... absolute worst trade I ever made.
Posted by Jenna on :
Oh, sorry, I'm sure you've more that made up for it though....
Posted by PCola77 on :
Well Repo, smart traders made it back and then some after the screw-up Posted by Repoman75 on :
Yep... but the point is, don't buy lotto tickets. SLow and steady wins the race.
Posted by SherriT on :
If they have to buy back these shares, there isn't any restriction to that though....
Posted by Jenna on :
Why does it take them days to figure out the mistake?
Posted by Jenna on :
Now it's at 2.45?
Posted by tmanfromtexas on :
After reading this again I dont think that has any bearing on our stock. Correct me if I am wrong...
Global has since learned that the management of World Hockey Association, commencing sometime during November 2006, began issuing large amounts of common stock. From November 2006 to December 12, 2006, the number of issued and outstanding shares increased from approximately 32,000,000 common shares issued and outstanding to 157,854,076 common shares issued and outstanding, the majority of which were issued to insiders and management.
These are world hockey league shares not gdvm. The r/s happened and the market decided what gdvm stock was worth. right? TMAN... ps I should have waited to buy dang it.
Posted by PCola77 on :
TMan, I have no idea what you're trying to say with that PR quote.
But you're saying that market decided on Tuesday that this company was worth $46million but then on Wednesday decided it was only worth $600,000?
I don't think that's a reasonable assumption to make.
Posted by tmanfromtexas on :
My bad. It doesnt. My only question is why did they do such a huge stock r/s and why did the market (in my opinion the market did determine what the price was and is now) decide the company was only worth a fraction of what they were before? If I find out anything from the IR or TA tomorrow I will definitely pass it on. HOPEFULLY its all good. TMAN...
Posted by Jenna on :
That would be much appreciated tman!
Posted by PCola77 on :
See that's where we disagree.
Say you had 5,000 shares on Tuesday at the close. They were worth $4,600. Then Wednesday morningn you pop open you broker's web site and see you have 5,000 shares and the bid is suddenly $2.00. You sell your 5,000 shares for over 100% gain, and never think about it again.
Well a few days later, the broker will get a call from the transfer agent saying, "hey, can we have the certificates for that 5,000 shares, and we'll send you back the new certificates for the 20 shares?" The broker will then say "Aw ****" and tell you that you have to buy them back at market price (or they will have to, depending on how hard you fight them).
Or at least that's the basics of how I think it happens. So basically I'm saying the market didn't say it was worth 98% less, an error by one or more brokers artificially lowered the price.
quote:Originally posted by tmanfromtexas: My bad. It doesnt. My only question is why did they do such a huge stock r/s and why did the market (in my opinion the market did determine what the price was and is now) decide the company was only worth a fraction of what they were before? If I find out anything from the IR or TA tomorrow I will definitely pass it on. HOPEFULLY its all good. TMAN...
Posted by tmanfromtexas on :
This was taken from their 10sb that was posted to the sec in November...IF A PUBLIC MARKET FOR OUR STOCK IS DEVELOPED, FUTURE SALES OF SHARES COULD NEGATIVELY AFFECT THE MARKET PRICE OF OUR COMMON STOCK. If a public market for our stock is developed, then sales of Common Stock in the public market could adversely affect the market price of our Common Stock. There are at present approximately 50,000,000 shares of Common Stock issued and outstanding.
The 9 mm mentioned earlier in the thread was from the same filing but was for the period ending 6/30/06.
The ceo's name is John D. Briner. He is a law attorney in Vancouver and has a few articles that you can read on the net.
They own stock in a lot of companies. Some are public and some arent. They have a lot of loans and debentures out that were 8k ed. TMAN...
Posted by tmanfromtexas on :
Thanks to MAG that posts on the splits thread, I found this little website that shows additional 8k's that arent on the sec's formal site. Here is the smoking gun for the reverse split.
ITEM 8.01 OTHER EVENTS
The attached announcement was released to the news media on November 6, 2006.
Global Developments Retains OTC Filers Inc. to File 10-SB Registration Statement
Vancouver, November 6, 2006 - Global Developments, Inc. (PINKSHEETS: GBDP), a publicly traded venture capital company, is pleased to announce that it has retained OTC Filers Inc. (www.otcfilers.com) to complete its Form 10-SB registration statement in order to become a fully reporting company and to provide full disclosure about the Company and its business objectives. Upon filing its registration statement, Global intends to make an application to list its common stock on the American Stock Exchange (AMEX) in the first quarter of 2007.
In addition, Global has also retained noted law firm Sichenzia, Ross, Friedman, Ferrence of New York (www.srff.com) to act on its behalf to maintain the Company’s ongoing public reporting obligations and to act as its general counsel. TMAN...
Posted by PCola77 on :
TMan, can you explain what you got out of that? Was the split intended to increase share price enough so that even with a typical price decline after a reverse split they'd still be at a hig enough price to qualify for AMEX? If that's the case they certainly wouldn't be the ones dumping shares for under $3 right?
Are you reading it differently than I am?
Posted by tmanfromtexas on :
Petrosun which is one of the companies they have shares in sponsored the Independance Bowl in dec of 2006 and will for 2 more years. TMAN...
Posted by Jenna on :
Well, I guess this isn't going to be the big one we'd hoped for......this is from Ihub....One of the posters over there went to the company & apparently the company doesn't care what the PPS is & will work with the people that held stock prior to the split....My luck SUCKS!!!!!!!
************************************************* Meeting with the Company:
I just got back from meeting with Leighton Dean. First of all, as this is the OTC, the company does seem to be real, at least they have a fairly sizeable office in a financial buliding, furthermore, I saw most of the people who's pics were on the site. So, take that as you will.
Now, what I am about to say you must take in the context that I walked in unexpectedly, so undoubtedly caught the guy offguard, but he was good enough to take a few minutes to chat.
During our meeting he seemed thrown off and uncomfortable. I initially told him I was there as his stock had attracted some attention, which does tend to happen when stocks take a 99% plunge. I asked him if the company was aware of the trading and he said that they were, but he didn't seem concerned about it. I then inquired if the company was planning on issuing a PR statement about the share structure, to clear up the concerns of shareholders, he was vague, and I got the impression again they weren't really concerned with the trading and that a PR in the immediate future would be unlikely, though he did say that the share price would be addressed. At this point I quizzed him about VFIN selling shares, he stated that he didn't know who/what VFIN was, so I explained that to him. He stated that all insiders shares were in a safe and not tradeble, and said that the company is not selling shares.
I asked him what the O/S was pre RS (he confirmed 250:1) and he said it was about 59 million (so they diluted another 9 million from the last 10-K somehow). He also confirmed that their stock was trading around/up to $1.38 pre-RS. I asked what the float was and he said he didn't know, I then asked him if he could at least tell me roughly what percentage insiders held, and he said he didn't know but would find out. I advised him again that a PR detailing the share structure would probably eliminate 90% of the phone calls/emails he must be getting.
If you look at their website, you will see that they own shares in at least 10 OTC companies (including WHKA of which he said they had only a passive investment in and would like to get to the bottom of themselves), all of which are illiquid/hardly trading, some with no PR's. Company doesn't seem too concerned with how their stocks trade IMO, they don't even have an IR firm, Leighton handles that. He kept reiterating that their outlook is within a 5-year timeframe and that the day to day trading wasn't of concern.
Take that as you will, and for any investors pre-RS, he said that you can contact him with your trade slips and he will see what he can do for you.
**************************************************
Posted by PCola77 on :
Jenna, don't be hasty. Even if the company doesn't care about the share price, that doesn't matter, as the shares that were sold in pre-split numbers would have to be ought back whether the company cares or not.
Unless of course the company itself was the one that dumped the shares today and yesterday, which is possible, but seems unlikely to me. As I said before, if they were trading at like $1 before the split, the could have dumped those 12 million shares for close to $12million. Why would they do a reverse split and THEN dump for like $80,000. Possible, but wouldn't make sense.
Posted by Jenna on :
Good Question: If he's not worried about the price why reverse split?
Posted by Jenna on :
This is weird!!! Is it possible that that guy Leighton doesn't know much about the market? He's not the CEO is he?
Posted by PCola77 on :
From my e-mails from him I got the feeling that he, in fact, does NOT understand it. I don't think he even understood what a 250:1 split was, and how it affects price and share count because he said the O/S count was 50million when I asked him. Oh well, I'm holding for a few days. We'll see what happens.
Posted by tmanfromtexas on :
I thought that too. I remember gtel (gte) went to the amex and they plummetted and are now delisted. Of course the motley fools helped with that fiasco. lol. I dont think the company is dumping shares. I did notice that the otcfiler company that they are going to use to uplist is owned by a board member and is in the same office. BUT these guys have their fingers in more pies then i do at Christmas. Also they 8k everytime they sneeze so they are being transparent as far as i can tell. TMAN...
Posted by tmanfromtexas on :
no john d bryner is. There is no filing indicating a reverse split, unless it was hidden in one of the 8k's. I only have a few bucks in it so lets see what happens. TMAN...
Posted by tmanfromtexas on :
Not to impressed with Mr. Dean...
Leighton Dean brings a depth of knowledge and experience in numerous industries. In the entertainment industry, Leighton has worked in locales in North America, Europe, Asia, and Africa. After a short stint in New York City working with inner-city youth, he settled in Vancouver where he applied his experience in media production to write and produce his own television pilot, directed to youth, called Vertical. Leighton's experience in sales & marketing led to positions as an account executive with a Vancouver-based marketing and design company and in client relations with a national car rental company. Immediately prior to joining Global, Leighton spent two years as an executive assistant and project manager for a major venture capital trust company.
Posted by thesource on :
This looks like it could be a mess for investors / traders .
Posted by PCola77 on :
True on all counts tman, but did you ever check the actual companies and management on JPHC/PAIV or AWBV/AWYB? YIKES. If my assumptions are correct, this will be a play based on the necessity to buy back shares that were inadvertantly shorted, not anything to do with the company, the management, or any of that stuff.
PAIV should have started at .01 but dropped to .0007 before rebounding to .28! and AWYB should have gone to .50 post R/S and dropped to .0014 before rebounding to .66!
I can't see this one actually going over the fair value of $230 post split, but there's still a LOT of upside here IMO.
Posted by bluechipper on :
I was involved in that PAIV/JPHC nightmare, I should be living on a tropical island somewhere by now LMAO. The lesson learned from that is more about market manipulation than anything. Everybodybody talks about what it should be (myself included) but it rarely ever is what it should be. AND, when the market makers or their freinds, the brokers, make a mistake. Who suffers? certainly not them, no no there is some sort of PPS corection that screws investors and protects them. If there was a legitamate mistake and the valuation of the share price should be higher, look for the price to continue dropping. Investors will be driven out of this stock for fear of loosing their $$$$ and then POW, some dumb ass rebound that allows the powers that be to sell off everything that they just bought. Thus entering a new round of investors, lather, rinse, repeat. The saying holds true to every aspect of this almost criminal organization. BC
Posted by bluechipper on :
If every one of these POS stocks were made of gold, and buried in the ground, investors with metal detectors would walk right past 'em. Not that this applies here but I will realy start digging tommorow.
Posted by tmanfromtexas on :
I agree PCOLA. There is a lot of upside and if they keep selling shares at this pace we may be in some serious money. TMAN... ps. next time you see a cluster like this or paiv im me. lol.
Posted by Jenna on :
I don't understand how they can do a reverse split & then just OOPS forget to adjust the PPS...don't they have to fix it? & by me using the word "they" I have no idea who I mean.(HaHa)
Posted by Jenna on :
How funny is this? From Ihub:
************************************************* Posted by: metropick In reply to: Zanatos who wrote msg# 126 Date:1/11/2007 10:17:24 PM Post #of 156
That is odd that a company that owns so much stock in other OTC companies would not be conscientious about their own share price or market cap. I guess they were only partially aware and uninterested of what happened the past two days to their market cap value!?
That is it... I am going to call Global Developments tomorrow and put in an offer for this company to buy it outright. After all, 236000 shares * $3/share = $708k. I am half-serious.
With $13 million in assets it's a no brainer. They will obviously decline, nor could I buy without consent of the majority share holders who are insiders. But I will say something to the effect of, "Well if you don't want a seriously hostile takeover by someone else, then you'd better address your share price after this 250 r/s." Then maybe they'll see the error of their ways and PR the heck out of their true market value.
I know, it's childish, but so is Leighton's reaction to what appears to be a serious issue with their valuation.
**************************************************
Posted by 10of13 on :
This one seems kinda scarey...I hope it does fantastic for you guys!!!!
Posted by stocktrader22 on :
quote:Originally posted by Jenna: How funny is this? From Ihub:
************************************************* Posted by: metropick In reply to: Zanatos who wrote msg# 126 Date:1/11/2007 10:17:24 PM Post #of 156
That is odd that a company that owns so much stock in other OTC companies would not be conscientious about their own share price or market cap. I guess they were only partially aware and uninterested of what happened the past two days to their market cap value!?
That is it... I am going to call Global Developments tomorrow and put in an offer for this company to buy it outright. After all, 236000 shares * $3/share = $708k. I am half-serious.
With $13 million in assets it's a no brainer. They will obviously decline, nor could I buy without consent of the majority share holders who are insiders. But I will say something to the effect of, "Well if you don't want a seriously hostile takeover by someone else, then you'd better address your share price after this 250 r/s." Then maybe they'll see the error of their ways and PR the heck out of their true market value.
I know, it's childish, but so is Leighton's reaction to what appears to be a serious issue with their valuation.
Maybe its because no pink sheet should be valued at $20+ thats basically not an impressive company
Posted by tmanfromtexas on :
FWIW a hubster called scottrade yesterday and they were unaware that the rs had occurred. So if they sold presplit shares and they catch it early no problem, rebuy and replace. IF they dont catch it and the shares continue to trade, well wont that be interesting. TMAN...
Posted by PCola77 on :
bluechipper, you're completely wrong here. JPHC should have converted to PAIV at a value of .01. Because restricted shares were sold, it dropped to .0007. It then went up to a peak of .285. If you're saying that a 40,000%+ increase is not a correction, then I'm not sure what to tell you. I guarantee some brokers lost a good chunk of money on it (relatively speaking. Probably a good chunk to us, but chump change to them). Christ, it "corrected" to over 28x the "fair" price.
And with AWYB it should have been .50 after the reverse split but dropped to .0014. Then "corrected" by over 47,000% to .66.
If you had bought in at the bottom, you couldn't have possibly lost money on it, and the only way you wouldn't have made a killing is if you sold too early or held too long.
So in my opinion there WILL be a correction here, and we DID get in at the bottom. The only question is when the correction will start, and how high will it go. I would be shocked if it actually rebounded to OVER the $230 per share (even though both PAIV and AWYB got significantly over the "fair" price), but this should still go up pretty significantly from here. Again, I'll caveat this by saying all of this is the case only if there really was a R/S screw up, which I believe there was, and not someone intentionally dumping shares at a 99% loss.
But you're quote of "Who suffers? certainly not them, no no there is some sort of PPS corection that screws investors and protects them." Is totally off base.
quote:Originally posted by bluechipper: I was involved in that PAIV/JPHC nightmare, I should be living on a tropical island somewhere by now LMAO. The lesson learned from that is more about market manipulation than anything. Everybodybody talks about what it should be (myself included) but it rarely ever is what it should be. AND, when the market makers or their freinds, the brokers, make a mistake. Who suffers? certainly not them, no no there is some sort of PPS corection that screws investors and protects them. If there was a legitamate mistake and the valuation of the share price should be higher, look for the price to continue dropping. Investors will be driven out of this stock for fear of loosing their $$$$ and then POW, some dumb ass rebound that allows the powers that be to sell off everything that they just bought. Thus entering a new round of investors, lather, rinse, repeat. The saying holds true to every aspect of this almost criminal organization. BC
Posted by cottonjim on :
hmmmmmmmmmmmmmmmmmmmmmmm
Posted by tmanfromtexas on :
Sorry Jim, you cant buy into this. I have already and you KNOW what happens when we both enter into a stock. lol. Is it really cold there yet. Its almost 50 here. TMAN...
Posted by Jenna on :
Did anybody beside me pick up anymore yesterday?
Posted by PCola77 on :
Well since there weer 16K+ shares traded, I'd have to guess "Yes". Oh, you mean from here? Posted by tmanfromtexas on :
I did Jenna, after finding the right symbol. lol. I had at least two brain farts on this yesterday. lol. TMAN...
Posted by cottonjim on :
quote:Originally posted by tmanfromtexas: Sorry Jim, you cant buy into this. I have already and you KNOW what happens when we both enter into a stock. lol. Is it really cold there yet. Its almost 50 here. TMAN...
I'll stay on the side line for both our good tman. Your in the middle of a heat wave, f'n -6 degrees this morning so it's a tad nippy.
Posted by Jenna on :
So I'll ask - what happens when you 2 are in a stock together?
Posted by PCola77 on :
I'm guessing that both lost a bunch on GLLC. So I also recommend jim staying out for now Posted by cottonjim on :
Not good things. We seem to carry some sort of curse that dooms any stock that we both hold. I stayed out of BANY yesterday and it worked out fine. If I would have bought, the toilet would have flushed.
Posted by cottonjim on :
The worm hole goes a little deeper than GLLC PC. That was just the frosting on the cake.
Posted by tmanfromtexas on :
Yeah Jenna, when Jim and I team up on a stock it kicks our ass. lol. fgfc, gllc etc. lol. I appreciated you staying out of bany and letting me make a few buck ole buddy. lol. TMAN...
Posted by PCola77 on :
Ok, that was just the first one that I saw that both of you had posted in recently. Sorry about your luck.
quote:Originally posted by cottonjim: The worm hole goes a little deeper than GLLC PC. That was just the frosting on the cake.
Posted by tmanfromtexas on :
Does anyone show level 2s on this. tda isnt. TMAN...
Posted by PCola77 on :
alphatrade does
Posted by tmanfromtexas on :
whats the line up
Posted by PCola77 on :
bid side:
NITE and HILL at 2.00 EFGI at 1.30 and 8 more below 1.30
ask side: NITE at 2.85 UBSS at 3.00 DOMS at 7.00 VFIN at 7.50 HILL at 10.00 and BGTN at 15.00
no others asking
Posted by tmanfromtexas on :
Thanks Pcola
Posted by PCola77 on :
I just did a test. It looks like my orders are being routed through NITE for both Scottrade and ChoiceTrade. I did a 500 buy for $2.25 on my Choicetrade account and it moved NITE on Level 2, then I did a 500 share buy at $2.30 from my Scottrade account and it moved NITE again.
I changed 1 to a bid of $2.05 and cancelled the other. So if you see someone get filled at 2.05 it should be me.
Posted by tmanfromtexas on :
Ya gotta love nite. lol. I wonder if they are the ones that screwed the pooch on this one. TMAN...
Posted by PCola77 on :
Well, they were the ones on the ask at $2.75 and $3.00 the last two days. You never know which broker they were representing though.
Posted by Jenna on :
Ok- go up already.....I wonder if they guy from Ihub called the company yet & offered to buy it!!!
Posted by PCola77 on :
Okay I just e-mailed the company back and flat out asked them if they were the ones that sold any of the 45,000 or so in volume the last two days. I'd be shocked if I got a response, but will let you know if I do.
Posted by 10of13 on :
I haven't been reading the thread...but did the company to a R/S and then take the shares and sell them back into the market? As PC seems to be suggesting...
Posted by PCola77 on :
I think that's one of three options.
Option 1) some broker(s) screwed up and didn't update share counts, so someone that had, say 5,000 shares on tuesday was supposed to have 20 shares on Wednesday, but saw that on Wednesday they still had 5,000 shares and dumped them for $2-$3 and a huge profit. but unbeknownst to them, they, or their broker will have to buy them back at market value.
Option 2) the company dumped shares and doesn't care that they decreased shareholder value by 99%+
Option 3) an individual investor dumped $7million worth of stock for $60,000 on Wednesday
My opinion is that the probabilities are about 49.95% option 1, 49.95% option 2, and .1% option 3.
So to me, it's wort the downside risk of losing 50-80%, given the upside of a 10+ bagger.
Granted given the available info, I have to confess that as of yesterday I would have put the odds at more like 80%/19.9%/.1% since it appears that the company is completely clueless, I am seeing a greater chance that it is option 2.
Posted by Jenna on :
At 1.70!!! Holy crap....
Posted by Jenna on :
I would hope that they are trying to shake our shares from us because they NEED them but I bet that's not the case....
Posted by PCola77 on :
Well it was just 1 person selling 350 shares that they probably bought yesterday but today decided to take the loss and don't believe in the R/S screw up anymore. But I wouldn't put any stock into that, as like I said, it was just one person. If you see the volume start to go crazy and the price keep dropping, I'd be more worried, but as it stands, I'm still holding all of my shares.
Posted by Jenna on :
OK....I wish I had L2's but I don't so could you update the thread every once in a while? Thanks.... Posted by Jenna on :
This might be a dumb question but why isn't this being addressed by the company....Can't they or the brokers or MM's get in trouble? How do they do a r/s without adjusting the price? Is this soemthing that the SEC would be aware of?
Posted by 10of13 on :
Jenna? the company may know very well what is going on...from the little I am reading? The company is the one that made it happen...
Posted by PCola77 on :
Well, from what it sounds like in various replies from the comapny, they don't care. That's why I say they don't understand what they are doing.
The one thing that Dean said that is true is that the market determines the price. It's just that in this case the price was artifically lowered from $230 a share to $2 a share by someone selling enough shares that the supply far exceeded demand. That would happen in one of the two ways we've been discussing, either a R/S screw up or a company share dump.
Posted by PCola77 on :
I'm not watching L2 either, but the volume was 1250 then went up to 1600 on the $1.70 trade, so someone sold 350 shares. It's now back to $2.50 because someone bought 200 shares at the ask. Unless you're going to get really excited every time a single person buys at the ask, there's no reason to get scared when one person sells at the bid
For all you know, I could have done it just to f*** with your head. (Of course I didn't, but realize that that's exactly how MMs play games with us)
quote:Originally posted by Jenna: OK....I wish I had L2's but I don't so could you update the thread every once in a while? Thanks....
Posted by Jenna on :
Right- they are good at that....
Has anyone on IHUB tried to talk to the TA?
Posted by PCola77 on :
Oh my god, someone just bought 300 shares at the ask! We're rich Posted by Jenna on :
Did his name start with a P?
Posted by PCola77 on :
Well I can't say a definitive "No", but I can say it wasn't me Posted by Firedog on :
PCola77/Jenna. 100 shares were mine. Could not help myself had to have another LOTTO ticket. LOL
Posted by Jenna on :
Firedog- what's your take on this?
Posted by Firedog on :
I agree with PCola77 mostly. I don't buy that the company does not know anything about the market or does not care about PPS. They have positions in 10 OTC companies. IMO either they dumped shares or brokers messed up and sold pre R/S shares. I am hoping that the latter is the case due to the post. However everyone here knows how much faith to put in these CEOs. Call me foolish I am betting on the last option. It will be fun to watch and could not stand not being involved. Posted by Jenna on :
I have half of my shares up for sale at $10.00 I know it's a joke but what the hay!!
Posted by Firedog on :
Jenna, Let me know how it goes. I would do the same but it would be my luck the sell would go through and PPS would be set at $175.00 Posted by Jenna on :
Ok- for sure - just for the record I have 500 shares & I'm only trying it with a portion of them....
Posted by Firedog on :
Jenna you are braver than me. I only have 300 shares. 500 X $200.00= ******. Hummm would you be willing to adopt? LOL Have a good weekend. Posted by Jenna on :
I wish it would go to 200!!!! Could you imagine? Unfortunetly, I'm not that lucky...but we will see what unfolds next week. (too bad we have to wait until Tues!)
Posted by PCola77 on :
Apparently thre will be a PR this week to explain what occurred last week. I'll be interested to see if the company sold $7million worth of stock for $80,000 or so, and if so, why. I hope the PR is very clear and detailed, but knowing how companies typically issue PRs, it'll probably say "Shares of our stock decreased last week and we will do everything in our power to restore our company's value."
Posted by PCola77 on :
Well, looks like I should have checked IHub first. Check out this PR that they put out today:
"VANCOUVER, BC -- (MARKET WIRE) -- 01/15/07
Global Developments, Inc. (PINKSHEETS: GDVM), a publicly traded venture capital company, today announced that on December 15, 2006, a majority of its shareholders consented to a consolidation of its shares on the basis of one share for every 250 shares of the Company. The consolidation was effective Wednesday, January 10, 2007. "
Now, call me deranged, but I think this may be good news for us. I honestly think the company had/has no concept of what they did. If they really have $13million in assets and 200,000 O/S, they may have sold shares at a huge discount to actual value without realizing it. remember when I said someone thought that they made 100%+ profit by selling shares that they bought for $1 at $2? Well it just may be the case that the COMPANY was the one that did that, and don't realize it. They wouldn't have to buy them back like a short squeeze, but if they inadvertantly dropped their market cap to $600K by selling when there was no demand, this may rebound in a big way when peopel realize the actual value of the shares. It won't get back up to $230/share, but it could be a 10+bagger. (I really HATE to throw out numbers like that, it sounds like such a lame pump job, but would getting back to a market cap of $6million really be a stretch when it was at $46million just last week?)
What do you guys think?
Posted by tmanfromtexas on :
The PR was kinda lame. lol. TMAN...
Posted by Jenna on :
It just still doesn't make sense.....the BV of the company divided by o/s doesn't add up....still very undervalued!!!! I'm holding for a little bit!! I think this can get up into the 20's...
Posted by PCola77 on :
Yeah, unless there's a big piece of the puzzle that we don't know about, it's still a HUGE bargain at these prices.
Posted by Jenna on :
I agree....
Posted by tmanfromtexas on :
me too... we three will either be considered some smart mammer jammers or the three stooges. LOL. TMAN... (dont ask me what a mammer jammer is)
Posted by Jenna on :
Let's make it up.... a mammer jammer is a big money maker.... how's that sound?
Posted by Jenna on :
You mean 4 stooges.....firedog is in this too.
Posted by tmanfromtexas on :
Sounds good Jenna, sorry Firedog, didnt mean to leave ya out. lol. TMAN...
Posted by PCola77 on :
E-mail from company, for the 4 of us
We are in the midst of finalizing our financials which will give you concise info on all of these outstanding issues. They will be posted in the very near future and this should answer all of your questions. Thanks for your interest in Global Developments.
Posted by tmanfromtexas on :
Thanks PCOLA, NOW who is Moe, who is Larry, who is Curly and I guess Shemp is the 4th one? TMAN...
Posted by Jenna on :
I'll be Curly even though I have staight hair- just because it ryhmes with girly....
Whoever is Moe- it stands for Moe Money!
Shemp is just going to have to be Firedog because he's not around that much.
Posted by Jenna on :
Thanks PC for the email update!
Posted by tmanfromtexas on :
I guess I will be curly. I aint that big but if I lose any more hair (or pull it out) i might as well shave whats left and go bald. lol. TMAN...
Posted by Jenna on :
Could someone explain this to me? Look at the date of the last trade- Jan 12th. There was 0 volume today???? This didn't trade at all today? Any thoughts on this guys?
*************************************************
GLOBAL DEVELOPMENTS INC GDVM (OT)
Min Delayed: 15 Refresh This Page... 1 minute refresh 5 minute refresh 10 minute refresh 15 minute refresh Last Change / Pct Change 2.50 0.05 / 2.04 %
Open 2.85 High 2.85 Low 1.70 Prev Close 2.45 Volume 2,900 AvgVol 21,461 Last Trade Jan 12 2007 15:15:02 EST Bid 1.28 Bid Size 500 Ask 7.00 Ask Size 500 P/E Ratio 1 N/A EPS 2 N/A Last Dividend 2 N/A Div Yield 2 0.00 Shares Outstanding 2 MarketCap 1
Day's Range 1.70 to 2.85 52 Week Range 1.64 to 2,502.50
Posted by PCola77 on :
Correct, no trades yesterday. I assume it's as simple as people like us aren't willing to sell at the bid despite our uncertainty, and others weren't willing to buy at the ask given the uncertainty. If/when the financials PR comes out we should see some good volume, and the price will probably go up or down significantly. And if we go a few days with no PR I also expect to see some selling. Nothing alarming to me to not see any trades today.
Posted by Jenna on :
OK- thanks for your input PC....thought maybe trading was stopped or something....I've never seen no volume at all...interesting!
Posted by Jenna on :
No volume again today.....weird.....
I've never been in a stock with -0- volume!
Posted by PCola77 on :
You don't trade enough pennies then I have had 5-10 different ones on my watch list that periodically go days without a trade.
Posted by Veatsol on :
Here we go!
Posted by PCola77 on :
There's some volume for you Jenna. Someone (not me) sold a whopping 100 shares. Like I predicted last night, the longer we go without news the more 100 or so share sells we'll see, as people who were hoping for a big short squeeze get bored.
Posted by Jenna on :
Yeah volume- crap - PPS going in wrong direction but that's ok- I'm holding......
Posted by Firedog on :
Bad day. No buys. I can't really believe that we have not move up yet with the value of the company and O/S. Just does not make sence.
Posted by Jenna on :
Well, let's hold on...I don't think we've heard the last from the company.....
Posted by PCola77 on :
Well, bid just upticked to $2.00, so at least that's a good sign Posted by Jenna on :
ok- we're moving up a little.....It's funny how this moves in .25 increments....
Posted by PCola77 on :
Well, moving up, but really someone else sold at the bid which isn't a good thing. It just happens that the bid moved up.
Posted by PCola77 on :
Well Jenna, there's some actual volume for you today. None of it the good kind though
Still "up" for the day, but ask is significantly lower.
Although the spread is now fairly tight, so that could induce some volume.
Posted by Jenna on :
.....just waiting for something.....this wait can't be as long as cshd.....& I can't lose nearly as much! Posted by tmanfromtexas on :
lol Jenna. What I find interesting is that they 8K everytime they put out a PR. They have a plan I would imagine. It would be nice for them to let the 4 of us in on the plan. TMAN...
Posted by Firedog on :
I really thought we would be seeing more by now.
Posted by Jenna on :
Global Devs Inc(OTHER OTC:GDVM) 1.70 -0.05 / -2.86%
Jan 18 8:11pm ET † Open: 2 Volume: 27,602 High: 2.00 Volume Avg: 2,700 Low: 1.70 P/E Ratio: 0.00 Prev. Close: 1.75 Dividend Yield: N/A 52-Week Range (Low - High): 1.64 - 500.50 Market Cap (mil): 16.97 More Data
*************************************************
With a market cap of 16.97 mil & an O/S of 200,000 I figure that the PPS should be 84.85 before multiplying it.....Am I missing something here? The current PPS is $1.70 so if the A/S is 200,000 & with the PPS being $1.70 you could literally buy this company that is worth 16 mil for $340,000???? Am I missing something here? Did I figure that right?
Posted by PCola77 on :
Jenna, if the A/S was 200,000 then your math is correct. However there are a couple of inaccuracies in your assumptions. First of all, I think you meant to say O/S not A/S. A/S is authorized shares. I don't think that changes with a split, so it's still in the high millions, I'm sure. Second, we were told by the company that the O/S is 200,000, but I think that's questionable at best at this point.
So until we have accurate numbers for the assets and O/S, which we are supposedly getting in a PR soon, I don't think we can really make any assumptions.
If the financials still show 200,000 O/S and $13million in assets, I'll be "buying the crap out of it", but until then, I'm content to just hold my lottery ticket for now.
Posted by Jenna on :
Thanks PC.....isn't the A/S # the number you use to figure out the BV or what the PPS should be? I thought you use the A/S not the O/S.....but I'm still learning so school me baby!!!!!
Posted by tmanfromtexas on :
OS shares are the shares used to figure the market cap. Authorized are the shares that the company can distribute to. Except in FGFC's case. lol. TMAN...
Posted by Jenna on :
I don't get that.....if the A/S is ALL of the share that can be issued & the O/S is what's outstanding then.....oh my goodness nevermind it just dawned on me....ok I get it now.....You use the O/S because that's what out in the market at the time....that's why when they put new shares from the A/S out into the market- it's dillution because those are not figured in the PPS or market cap.....I get it!!! Do you see the light bulb above my head? Posted by Jenna on :
Why don't we know these numbers? Isn't that supposed to be public knowledge? They better start talking.......should I email them?
Posted by PCola77 on :
I'd make fun of you, but I had a lightbulb moment yesterday (or two days ago) with CSHD when I asked what their business model was. Someone explained it to me and I started typing, "Oh, so they're just a holding company." Then it dawned on me that HOLDINGS is right in their name. Whoops...
And yes, it looks like you "schooled" yourself
quote:Originally posted by Jenna: I don't get that.....if the A/S is ALL of the share that can be issued & the O/S is what's outstanding then.....oh my goodness nevermind it just dawned on me....ok I get it now.....You use the O/S because that's what out in the market at the time....that's why when they put new shares from the A/S out into the market- it's dillution because those are not figured in the PPS or market cap.....I get it!!! Do you see the light bulb above my head?
Posted by PCola77 on :
I'm not sure if it's public knowledge. If it was, how can so many TAs be gagged?
Many of us have e-mailed the company, but have not gotten a number from them since the 200,000 stated on the first day. Feel free to try though.
quote:Originally posted by Jenna: Why don't we know these numbers? Isn't that supposed to be public knowledge? They better start talking.......should I email them?
Posted by Jenna on :
I will call Monday.....
anything else I should ask?......should I ask for Lieghton?
Posted by Firedog on :
What reason would the company have to let the PPS stay so low? I would think that if they are worth 13 million. They would be doing everything they could to address the PPS. I think one PR stating PPS, O/S and 13 million in assets would take care of it.
Jenna if you get them on the phone explain to them what we want them to do so we can all make our money. LOL Posted by Jenna on :
Will do....
The last R/S I was in - they took the shares, and the same day they took the shares at opening the PPS was adjusted....how come the PPS never adjusted when it opened? I know I asked this before but I don't get it.....maybe I should call & ask Alana Black the SEC attorney investigating CSHD....LOL....
Could it be possible that they shorted their own stock & made a killing?
Posted by Jenna on :
Hey guys - Don't laugh but I just emailed Jim Cramer...maybe it will bring some attention to it.....here's the email:
Hi, I own 500 shares of GDVM. It's old symbol was GBDP on Jan 9th it did a reverse split of 1:250. It was trading at .92. So it should have opened at $230/share on Jan 10th.
It opened at $1.65 (down over 99%) and traded 23,500 shares the first day post split, in the $1.64-$3.00 range.
It currently is still trading in that range with no explanation from the company.
Could you explain how a company could do a 1:250 reverse split & not adjust the PPS.
Thank you, Jenna
Posted by Jenna on :
I guess this whole thing makes sense if they diluted the heck out of it right after the r/s.
Posted by PCola77 on :
You are one crazy chick!
Let us know if you hear anything.
Posted by tmanfromtexas on :
I can see Cramer now doing a Kramer from the Seinfeld show. LMAO. TMAN...
Posted by Jenna on :
PCola your mailbox is full.....you need to clean house....
![[Smile]](smile.gif)
![[Big Grin]](biggrin.gif)
![[Wink]](wink.gif)
![[Mad]](mad.gif)
I can't really believe that we have not move up yet with the value of the company and O/S. Just does not make sence.
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