posted
Okay, I have been purposely been ignoring this stock as of late, so can someone explain to me exactly what just happened to this? Paim.c1 and Paim.c2 ????
Posts: 741 | From: North Carolina | Registered: Feb 2006
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posted
Actually, I still do own some shares (not many thankfully). I wish I had jumped ship awhile back myself. Thanks for the explanation triovestor..
Posts: 741 | From: North Carolina | Registered: Feb 2006
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What out there looks good to you ? What do you think of BKMP .
I have always wanted that stock { the fight network } . That kind of sports entertainment has always been highly popular . And the stock price is finally where I have always wanted to see it . Bur now many are scared of the low price . They are in a posible buyout .
Take a look at them ---> BKMP and let me know what you think .
Something is telling me to think about getting a few million shares .
Posts: 388 | From: redlands | Registered: Jul 2006
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quote:Originally posted by triovestor: They took back 95 % of all shares .
These common shares went down in price to .0001 when they anounced it . And they are only paying share holders .00002 per share .
I don't know how that was legal . But they are doing it . In fact I think tomorrow is the date for the ripoff to take place .
Do you own shares ? I jumped ship to save myself .
Just made money on usxp though .
pretty funny...
I don't know what is funny funnier but I think I'll say making money on a stock(USXP) headed to receivership who the SEC states is continuing to dump shares on the market is funnier.
Wally
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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posted
Been flipping usxp for awhile now . But when it fell to the new low of .0002 & .0003 I really loaded up .
Yesterday I sold those shares for .0005 .
And I am going to keep some shares and accumulate a bit more . Same thing I have done for years with this stock . Like clock work it always goes through it's { this is the end period } to { well upward and onward } .
Posts: 388 | From: redlands | Registered: Jul 2006
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posted
I dont know stock. I tried to order through tda and said it couldnt even be placed. usually they say they arent taking buy orders on the security. I dont know how people are buying but I hope they make big bank. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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posted
Normally I would say yes . Except in this case Certain brokers and Paim themselves know they created a botched up situation last year and brokers took advantage by shorting the accounts of some clients ..... So paim says this time they will automaticaly have trading halted to avoid the same problem this time .
Posts: 388 | From: redlands | Registered: Jul 2006
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Just taking a shot here. I know about the situation from last year, and it's almost like they're TRYING to do it again. But I just thought of something. Last week I was on the phone with Ameritrade's Reorg department about PAIV and he said "Looks like their doing anotehr reorg of a buyback of 95% of shares. Oh wait, that's PAIM, not PAIV, sorry about that."
So at least it's pretty certain it's supposed to happen at some point. So I got that going for me Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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Pearl Asian Mining Industries, in Cooperation with Its Transfer Agent and DTCC, Allows 3-Day Settlement Period from the Effective Date of July 20th 2007, for PAIM's Mandatory 95% Buy-Back Pearl Asian Mining Industries, Inc., with stock symbols: U.S.A. (OTC: PAIM) (OTC: PAIMP); Germany (GER: R1Z) (FWB: R1Z), announces that the company, in cooperation with its transfer agent AGN Associates and DTCC, allows 3-day settlement period from the effective date of July 20th 2007, for PAIM’s mandatory 95% buy-back.
As a reminder to PAIM shareholders, the 5% of remaining shares are freely tradable as indicated in previous press releases. Therefore, Pearl Asian Mining advises all shareholders who sold their PAIM shares starting July 23, 2007 that they should sell no more than the remaining 5% in their accounts. Likewise, as the company recommended in previous press releases, shareholders are encouraged to contact their brokers to verify that the latter have segregated 95% of their shares in a restricted account.
As a result, all PAIM shares bought starting July 23, 2007 are not subject to the 95% mandatory buy-back. Conversely, shares being sold starting July 23, 2007 should not exceed the remaining 5% in shareholders’ accounts. Otherwise, shareholders who sold more than the remaining 5% in their accounts have incurred a short position and will be required to cover the same.
In summary, following are the salient points of the mandatory 95% buy-back:
July 23-25, 2007 - settlement period for all transactions ending close of business on effective date of July 20, 2007 Starting July 23, 2007 – 5% of shares remain freely tradable Starting July 23, 2007 – shares bought are not subject to the 95% mandatory buy-back All shares sold starting July 23, 2007 should not exceed the remaining 5% in shareholders’ accounts, otherwise any shareholder who sold more than the remaining 5% has incurred a short position in PAIM and will need to cover by the settlement date All shareholders holding shares in certificate form and all brokerages should surrender their common share certificates starting July 23 up to July 31, 2007 Upon receipt of all certificates, AGN Associates will issue new certificates representing the 5% of the total shares and the payment check for the 95% of the common shares with a pay date of 10/10/07. “Pearl Asian Mining has exerted all efforts to inform shareholders and the public about the mandatory 95% buy-back in advance, precisely so as to allow this transition to proceed smoothly and to prevent shareholders from unintentionally incurring short positions in PAIM,” stated Jason Piamonte, CEO of Pearl Asian Mining Industries USA.
FORWARD-LOOKING STATEMENTS:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Pearl Asian Mining Industries, Inc. Investor Relations: Gary Gotanco, MBA, 866-732-7888 (USA) or 310-728-6907 (P.I.) Fax: 877-317-4430 IRPAIM*hotmail.com www.PearlAsianMining.com
Source: Business Wire (July 24, 2007 - 1:44 PM EST)
posted
Well, that PR is why I'm in this one. Here's what *should* happen, if this was a vacuum and Pearl wasn't a scam artist:
Say the company had 100billion shares outstanding and was trading at .0001 before all of this nonsense started. That puts the "value" at $10million. Now the take 95billion shares and retire themp aying out .00002 per share, or $1.9million. Now the company is "worth" $8.1million and there are 5billion shares out there. the remaining shares would then be valued at .0016 per share.
At least that's how I understood it. By the way, these numbers are totally made up off the top of my head, it was just an example of what their "thinking" was.
I think it's bullsh*t, and they will dilute like crazy, but if even temporarily there are truly 95% less shares out there, .0005 is no where near what this should really be trading at.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Wow ..... They really went through with it .
Like a bank robbery in broad daylight . Incredible . And even admitted to the major problem they help create last year where Ameritrade ripped people off through the ilegal short positions created when Ameritrade did not obey the " MANDATORY " stop oder placed on PAIM .
You can still make money on this . But watch out for stunts they pull . And you have to know how to do it .
If you have doubts ..... best stay out .
Posts: 388 | From: redlands | Registered: Jul 2006
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posted
Tex, that was my original thought as well, but then I thought about it this way. Let me know what you think:
This is essentially a reverse split plus a cash dividend. Say you had 10 milion shares, after this "buyback" you have 500,000 shares, and $190. This is the equivalent of doing a 1:20 R/S and then a .00038 cash dividend. The reason that I now think this is totally legal is that the company "thinks" that all they are doing is redecing the float, and thereby increasing the value of each remaining share (with a wink, wink, nudge, nudge, since we all know they're probably planning to dump shares agin). Basically if doing a reverse split is legal, even in a case like Raven Moon, because the price increases proportionately and is thus not negatively effecting shareholders (again, wink, wink, nudge, nudge), then I don't see why this wouldn't be considered okay.
Whaddya think? Am I just rationalizing because I bought some?
quote:Originally posted by T e x: NITE quit handling it, as I understand it. May well affect liquidity...
I think it's illegal, anyway. Wouldn't surprise me one bit to see it get whacked...
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Well, regardless, it's up to .0007 this morning. Not a play I would recommend to the inexperienced, but could be fun for some of us.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Now at .0009. Sold half at .0008 to get my initial capital back. Still holding 1.5 million shares, just in case Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
how are you guys buying this, i have been trying to buy since yest. but choicetrade telling me this security is not clear to trade ?
Posts: 4071 | Registered: Dec 2005
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posted
Fuzzy, I had heard that as well. I'm laughing at the thought of where this would be if people were actually able to buy normally.
I bought through Scottrade first thing on Monday. Apparently Scotrade is still accepting buys though, if you can believe what submersed said. Sorry, man.
By the way, this is when it's extremely helpful to have more than one account. You can find one tha accpets buys most of the time. You do have to have the capital to keep it spred around, but if you do, it's definitely the way to go.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Guess I am the only one cashing in on this possible screw up. At HOD of .0014 right now.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Ask now .0015. up almost 300% since I got in at .0004... Ho hum. Nothing to see here. Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Can't say I'm too disappointed with the close of 250% up from yesterday morning...
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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happened to this? Paim.c1 and Paim.c2 ????
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