Allstocks.com's Bulletin Board: AFRT R/S Please give advice/experience

This is topic AFRT R/S Please give advice/experience in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.

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Posted by Clyde Crashcup on :

With the AFRT reverse split that is in effect today (9/1/04) Will the new pps drop immediately or will it stay for a given period of time? Should I dump and run after the opening bell or be patient and watch to see if the pps goes up (which I don't think will happen)? Thanks

Posted by stockguy123 on :

My opinion, get out ASAP. This company has a bad reputation for its reverse split history. The pps will probably drop like a rock at open. I've been burned on this one just like many others. Good luck with whatever you decide.

Posted by Clyde Crashcup on :

quote:
Originally posted by stockguy123:
My opinion, get out ASAP. This company has a bad reputation for its reverse split history. The pps will probably drop like a rock at open. I've been burned on this one just like many others. Good luck with whatever you decide.

Thanks Stockguy - What would a good source to find the R/S history and what happended to the pps after the split?

Posted by Clyde Crashcup on :

AFRT changed to AFRN

Posted by stockguy123 on :

I don't know of a source that would give a quick shapshot of a stocks split history and the before/after impact on its pps. That would be good info, maybe someone else can provide a source.

Posted by Clyde Crashcup on :

Stockguy - I put in a limit order to sell @.03 (9:15am)which is the current bid. after the split the price was .05

.02 @ 9:21am
.015 @ 9:24am
.011 @ 9:30am

I had to have the Broker place the order because I can't get to it on the Web because the shares are not available.

Lesson learned: Never buy stock from a company that has had a reverse split.

Posted by Love the Market on :

Clyde - that's not ALWAYS true. Some - but VERY few, have had RSs and gone on up over $20.00.

I ever owned Am. Fire - ALMOST did 2 years ago when they were going to run Infomercials for Tree Safe or something - but they NEVER ran them. THey just lied and said they were going to. Excuse after excuse. But I have watched them along with a few others so I could learn how these scumbags work.

The BIG question is: WHY can companies like AFRT, GWDL or whatever symbol Gateway is now, and PCCL -Pacel - Do this CONSTANTLY and the SEC does NOTHING? They are literally getting away with stealing.

Can it be legal to do this all the time?

It's like a guaranteed 4 step thing with them:

Pump, Dump, R/S, Print more - and repeat the process.

Posted by Clyde Crashcup on :

quote:
Originally posted by Love the Market:
Clyde - that's not ALWAYS true. Some - but VERY few, have had RSs and gone on up over $20.00.
I ever owned Am. Fire - ALMOST did 2 years ago when they were going to run Infomercials for Tree Safe or something - but they NEVER ran them. THey just lied and said they were going to. Excuse after excuse. But I have watched them along with a few others so I could learn how these scumbags work.
The BIG question is: WHY can companies like AFRT, GWDL or whatever symbol Gateway is now, and PCCL -Pacel - Do this CONSTANTLY and the SEC does NOTHING? They are literally getting away with stealing.
Can it be legal to do this all the time?
It's like a guaranteed 4 step thing with them:
Pump, Dump, R/S, Print more - and repeat the process.

It is stealing. I am going to file a complaint with the SEC. Probably a waist of time.

Posted by kbpkt on :

Looks like today is one of those rare days where one could have actually made money on this. I almost bought in at .011, but decided not to touch it, I've been getting burned all summer. Looks like I should have. Oh well, this POS will end up at the bottom again.

Posted by Clyde Crashcup on :

for what it's worth, I filed a complaint with the SEC regarding AFRT/AFRN. I'll keep everyone posted with the progress, if any.

Posted by Love the Market on :

.045??? Don't people EVER learn? Who the hell is buying that crap?

Posted by kbpkt on :

quote:
Originally posted by Love the Market:
.045??? Don't people EVER learn? Who the hell is buying that crap?

I have no idea, but this thing is headed back down already. The worse part is that AFRN probably has not started to dilute it yet. However, the people who bought this morning around .011 and were smart enough to sell made some good money.

Posted by Ric on :

I agree. Man I don't know how this POS gets by with this. I wonder how many people has lsot there money on this. Wish there was a way to tell but I bet its a lot.

Ric

YOU KNOW WHAT WE NEED. A tread that has know scams on them. Not ones you think are scams but know pump and dumps and R/S - dilute stocks and companys that have no business except pushing there dead stock.

quote:
Originally posted by Love the Market:
.045??? Don't people EVER learn? Who the hell is buying that crap?

Posted by Love the Market on :

[QUOTE]Originally posted by Ric:

Actually Ric - it's a GOOD thing the scams are posted here too...... So we can let the others know what we know. I'd hate to see newbies get screwed and have it leave a bad taste in their mouths for trading.

I'm by NO MEANS a basher - but I WILL warn people about the Gateways, AFarts, PAcels of the world. Even CDVJ and I own over $3000 worth of that crap = well, now worth about $400

Posted by Whetstone on :

quote:
Originally posted by Ric:
I agree. Man I don't know how this POS gets by with this. I wonder how many people has lsot there money on this. Wish there was a way to tell but I bet its a lot.
Ric
YOU KNOW WHAT WE NEED. A tread that has know scams on them. Not ones you think are scams but know pump and dumps and R/S - dilute stocks and companys that have no business except pushing there dead stock.

Anyone who did ANY DD on this company would never buy it. This is the 4th R/S in less than two years. It's a total scam. It's been reported to the SEC several times... once by me... and nothing ever happens. Even Stockpatrol doesn't do anything. This company had ONE marketable product and they sold it off last month. DO YOUR DUE DILLIGENCE and you won't get burned by a dog like this. Do your research on AMFR, AFRR, AFRC, AFRT, AND NOW AFRN. All of these symbols in less than two years.

Posted by Upside on :

Everyone should read what Whetstone posted and take it to heart. In the penny market, that's the best advice there is.

Posted by Ric on :

I agree with doing your own dd. My point was too newbies that may not know how to do good dd. This board is great help for them but I have noticed a lot of people trust these paid web sites because they don't know better or pumper that come in here or other boards. How do you know they are pumpers if you don;t even know that pumpers come to the boards? Oh well, I do agree with you though. Good research is the best defense from getting ripped off.

Ric

quote:
Originally posted by Whetstone:
Anyone who did ANY DD on this company would never buy it. This is the 4th R/S in less than two years. It's a total scam. It's been reported to the SEC several times... once by me... and nothing ever happens. Even Stockpatrol doesn't do anything. This company had ONE marketable product and they sold it off last month. DO YOUR DUE DILLIGENCE and you won't get burned by a dog like this. Do your research on AMFR, AFRR, AFRC, AFRT, AND NOW AFRN. All of these symbols in less than two years.

Posted by Dakota on :

I made a formal complaint to the SEC today. Not that I expect them to do anything. If they allow it to go on they are as guilty as the crooks that R/S then dilute it then pump it then R/S it then dilute it then pump it then.....on and on and on. How can you even think of doing a R/S on a stock that is worth .0002 and falling.
Who in their right mind would ever buy into this company again if they did the least bit of DD. I won't even say it is worth swinging it anymore. It is truly theft being condoned by the SEC in my humble opinion.

They go after people like Ken Schilling (IBZT) who runs a good company with some shipment problems or poor judjement calls but allow these scam artist from AFRT/AFRR/AFRN (or what ever they call their crooked selves today) to florish by stealing from its investors.
Dakota told you that......

------------------
Dakota
Just because I'm paranoid don't mean there ain't someone behind me........

Posted by U4TSAF2 on :

ABSOLUTELY EVERY SINGLE ONE OF YOU REGARDLESS OF WHETHER YOU OWN THIS STOCK OR NOT, NEED, ABSOLUTELY NEED TO FILE A COMPLAINT WITH THE SEC.

Posted by electrospiro on :

[QUOTE]Originally posted by U4TSAF2:
[B]ABSOLUTELY EVERY SINGLE ONE OF YOU REGARDLESS OF WHETHER YOU OWN THIS STOCK OR NOT, NEED, ABSOLUTELY NEED TO FILE A COMPLAINT WITH THE SEC.

AFRN what a scam!!! I'll file a complaint with the SEC. Here is the link:https://tts.sec.gov/acts-ics/do/complaint

Posted by Clyde Crashcup on :

I filed my complaint 9/1/04

Posted by Clyde Crashcup on :

I'll start a new topic