posted
By the way Mag, after reading through the posts of that one guy on IHub, making a couple of calls/e-mails myself, and digesting it all, I sold all but a couple hundred shares of CNEX today. (I went to post it there but am out of posts for today. Whoops...) I made a couple grand, so that was nice. Kinda bummed that it took a pump and that they seem to be positioning themselves to dilute heavily though. Coulda been a monster, I think.
quote:Originally posted by T e x: refresh my memory, guys...what was the play?
sure on October 01, 2007...
CSGJ China Shuangji Cement Corporation Common Stock CTSO Citisource, Inc. Common Stock 1-100 R/S, Pre-split shareholders with 10,000 or fewer shs but at least 100 shs will receive 100 shs post-reverse stock split. Holders with less than 100 shs will not be effected by reverse stock split.
then... changed name to CNEX a few weeks ago and got some legs today.
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posted
Tex, long story short they were trading at about $0.75 before they announced the roundup. Ran to about $4 (I got in at like $2.75 I think). Then the 1:100 happened and it actually went DOWN to about $1, when it should have been $75-$400. I ended up getting about 3,000 shares between $1.00 and $1.30 because I thought it would run big someday.
Turns out they appear to have issued a boatload of stock to someone for something, and someone posted about a SPAM e-mail they got on it, and then the company comes out with news. I thought the float was under 100K, but now it's like 5mil, so I mostly bailed. As I said earlier, this could have been huge if they didn't go about it this way. Oh well...
quote:Originally posted by PCola77: Tex, long story short they were trading at about $0.75 before they announced the roundup. Ran to about $4 (I got in at like $2.75 I think). Then the 1:100 happened and it actually went DOWN to about $1, when it should have been $75-$400. I ended up getting about 3,000 shares between $1.00 and $1.30 because I thought it would run big someday.
Turns out they appear to have issued a boatload of stock to someone for something, and someone posted about a SPAM e-mail they got on it, and then the company comes out with news. I thought the float was under 100K, but now it's like 5mil, so I mostly bailed. As I said earlier, this could have been huge if they didn't go about it this way. Oh well...
posted
OMG choice trade screwed up and gave me another 100 shares in my account of CNEX; I called them and let them know of their error... Way too tempting to sell em lol but I aint into getting caught shorting!
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quote:Originally posted by T e x: What'd they say? just curious...
They're gonna investigate it; I saw what happened in my history and acct# after they credited the CNEX shares they left CSGJ China Shuangji Cement Corporation Common Stock reorg in my acct. they must have resent that out again. I didn't tell them that; they can do their job and figure out why they mucked it up.
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posted
They fix it yet Mag? I noticed a few days ago that CSGJ was still in my account and was wondering if somethign like that would happen. Just checked and CSGJ is gone, and no CNEX in its place, so I figured they corrected the error all around.
quote:Originally posted by PCola77: They fix it yet Mag? I noticed a few days ago that CSGJ was still in my account and was wondering if somethign like that would happen. Just checked and CSGJ is gone, and no CNEX in its place, so I figured they corrected the error all around.
Gone; where they went after they left my account is anyones guess...
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