I am a newbie to this post board. I have been pennystocking for about two years but just let my subscription to "True Wealth" expire cause I didn't like his advice enough to keep paying for it. I'm looking for a new place to bounce ideas and get info.
GARM (RecycleNet Corp.) current price .06
This is the stock I am looking at right now. Has anyone seen this one yet?
This is a scrap metal recycling company that in itself isn't terribly interesting.
What is interesting is that Nov. 30th they announced plans to create an independant spin off company based in China. Anyone who owns shares in GARM on...January 20th will receive 1 free share in the new company for every 10 shares they own of the parent.
Seems to me with all the hype about China and their usage of Raw Materials this new company can't help but jump.
Can anyone see why I shouldn't invest in this?
Thanks! The Bigfoot
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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posted
the entire sector *should* be up, if the given biz decent security--around here thieves are getting 10$ of thou$and$ in ripped-off metals such as copper because metal is so high...
Thanks for responding, I lost my post for a bit cause it got moved when I wasn't looking.
The GARM chart looks pretty good. Volume is low which concerns me a little but price is still good. Year high .075 Yearlow .02
Current price now .055
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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I've been watching for about two weeks. Volume can be anywhere between 15000 shares or 200000 shares a day. I can't believe it is lack of interest. Not sure what to make of it.
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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I am trying to find a definite answer but I am not seeing one.
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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So here is the information I have put together on Recyclenet.(GARM)
GARM is creating a spin off company in China and offering 1 share of the new company for every ten shares owned of the parent. The date of record for this transaction to take place is January 20th 2006. According to Recyclenet investor relations the MM's should begin moving shares in this company directly after the date of record.
Recyclenet (GARM) is a recycling web portal site. They DO NOT themselves buy and sell scrap metals and materials. Rather they provide a web listing where materials can be viewed for purchase nationally and internationally. They make money from selling memberships to their site and services.
Recyclenet has portals in many countries but has decided to spin off their China site into its own company due to the amount of possible activity that could be generated.
This PPS in the parent company GARM has recently dropped to .04, so if you think this oportunity has growth potential...now may be a good time to get in and secure your free shares.
I have now invested in GARM.
The Bigfoot
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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posted
In case anyone wanders onto this posting. Don't bother...at least not unitl near the 20th. No volume makes this one a trader trap. I'm in still in hope there will be movement later but there are much better places for your money right now. FCDH, UAMA, and DMTN to name a few.
Thanks, The Foot
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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