What is going on with this today? I can't find anything as to why this moved. I have had this worthless stock for a few years.. now I'm up
Posted by 1 For the Money on :
fu(kin unbelievable
Posted by E-Z on :
What the...... Are you sure that's not a typo?
I see bid of .0002 and ask of .01, yet the last trade was .039
Am I reading that right????
Posted by binnocent on :
Yes I see the same on Scottrade and now a .05 trade
Posted by binnocent on :
Whish I could find some info. I bought 20,000 shares * .03 on 3/5/03. I figured it was a complete loss. Now I don't know if I should try to sell here at these levels!
Posted by Fuzzy1018 on :
what just hppnd? damn i was gana get into it this morning typo?
Posted by binnocent on :
This was the last news I could find! ___________________________________________
Exec Jailed for 'Pump & Dump' Fraud
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Provided By: The Atlanta Business Chronicle Last Modified: 2/20/2006 10:09:50 AM The former CEO of a Norcross, Ga., biotechnology company has been sentenced to nearly seven years in federal prison and fined about $1.7 million for securities fraud and perjury.
Timothy C. Moses of Atlanta, former president and CEO of International BioChemical Industries Inc. (ICBL), was convicted on Oct. 27, 2005, following a two-week jury trial. On Feb. 17, U.S. District Judge Charles C. Pannell sentenced Moses to six years and six months in federal prison to be followed by five years of supervised release. Moses also must pay $1.65 million in restitution to IBCL shareholders.
"This case was particularly significant in that the defendant took advantage of the FBI's investigation of the deadly anthrax mailings to defraud his shareholders, making a personal profit at their expense," said U.S. Attorney David E. Nahmias.
Prior to its bankruptcy in 2004, ICBL -- formerly BioShield Technologies Inc. -- made and sold antimicrobial products. IBCL's common stock was once listed on NASDAQ, but during the time in question was traded on the Over-the-Counter Bulletin Board.
Between Jan. 29 and Feb. 6, 2003, Moses issued a series of press releases falsely implying the FBI, which had contacted Moses in connection with its investigation of the Fall 2001 anthrax mailings, was interested in procuring IBCL's products. Although IBCL had sought EPA approval to market a product called "AnthraxShield" as being effective against anthrax, the EPA had rejected IBCL's test data and refused to license the product months before the FBI contacted the company in January 2003.
The FBI's interest in IBCL was purely investigative; specifically, whether IBCL or any of its personnel had access to deadly anthrax spores or whether the company stood to benefit commercially from the anthrax attacks.
The press releases led to a sharp increase in IBCL's stock price and trading volume. In the six days following the first press release, the price of IBCL stock increased by more than 500 percent, and the number of shares traded rose from a daily average of several hundred thousand to a high of more than 40 million. In all, more than 118 million shares were traded during this time period.
Moses took advantage of the fraudulently inflated market for IBCL stock to sell his own shares in the company, gaining about $70,000 in proceeds, and to advise other stockholding creditors of the company to sell their shares. The SEC suspended trading in IBCL stock on Feb. 6, 2003. When trading in the stock resumed, its price plummeted, causing nearly $2.2 million in losses to investors.
In his deposition before the SEC in a subsequent civil enforcement action, Moses lied about his personal IBCL stock sales, claiming he was unaware the sales had occurred. But evidence presented at Moses' trial showed he had called his stock broker more than 50 times during the three-day period in which he sold stock. The SEC referred the case to the U.S. Attorney's Office for prosecution after Moses perjured himself in his SEC deposition.
Posted by Fuzzy1018 on :
.01 now\ whats goin' on, any ideas?
Posted by Fuzzy1018 on :
i bet ppl who got in can't even sell
Posted by binnocent on :
I am trying to put a sell * .05 but Scottrade will not allow it.
Posted by binnocent on :
I sure wish I knew what caused this today. But figures till I call my broker to put in a sell all the activity stops. I still can not believe this went from a couple thousand shares traded per day on average to over 16 mil.
Posted by 1 For the Money on :
as quoted - i wouldnt touch this with a 10.5 foot pole
Posted by binnocent on :
Believe me I'm only touching it cause I got screwed in it 3 yrs ago......But wondering if someone is attempting a buy out. Some big trades went through today, 800,000 * .05 - 13:05:37 = $40,000 1,700,000 * .035 - 13:11:49 = $59,500