"I've seen a coupla folks imply the price was manipulated in order to allow Barnett to buy at bargain prices...."
There ya go.
You should also look at the ratio of volume to public float for possibility of naked shorting. That is to compare how much of the known public float is being traded daily, weekly and monthly. Any ratio over fifty percent is strong evidence of naked shorting. A ratio of eighty percent is naked shorting.
Is this company on the SHO "delivery failure" list?
This is all a matter of mathematics.
So, you want to earn a one-hundred percent gain on your money. Which of these two stocks is most easy to manipulate upward one-hundred percent?
Stock A : .09 per share Stock B : .90 per share
A rhetorical question, mine, begging no answer. It is obvious which is most easy to manipulate.
A classic example of naked shorting for upward profit is "boxing" which involves running share price down to sub-penny then boxing in the price.
Ownership of ten percent of float, or an ability to create counterfeit shares (naked) is all that is needed to do this.
Share price, as example, is taken down to .001 per share by a person sitting on millions of shares bought at .001 or counterfeited naked. To earn one-hundred percent, that person only needs a move to .002 per share. Each time share moves up, he dumps on the market keeping it down, while earning one-hundred percent profits.
Meanwhile, company executives are in a panic and trying to buy back shares to boost share value. They feed right into the manipulator.
This scheme of "boxing" a company is very common and can occur at any price range, not just at sub-penny levels.
You do not need huge swings in prices to earn a high percentage profit. Quite the opposite, as you know, learned from trading cheap pennies.
Point is, Barnett enters the picture and within the precise time frame he buys millions of shares, per share price crashes, quite artificially.
What is interesting is Barnett entered into a Schedule 13 agreement to buy a small amount of shares at a high price, yet that form discloses he bought over a million shares on open market _before_ the form was submitted to the SEC.
What logical reason would he have to pay a higher price for a small amount of shares, while buying millions on a severe artificial vertical downtick?
Perhaps to provide an appearance of no wrong doing?
Mine is pure speculation based on similar events I have observed hundreds of times of the years. Inherently, I could be dead wrong.
Nonetheless, I wouldn't touch this stock because it is clear something is deadly wrong.
posted
Purl they were listed on the SHO in 2004.. Not sure when they got off, but that could be why it dropped so far down? Once a company gets off the list don't they usually go back up?
Sorry for the questions, but I am new and trying to learn.
thanks purl.
Purl does look pretty hot in her picture... *wink*
[ May 16, 2005, 19:02: Message edited by: trading4life ]
Posts: 127 | From: USA | Registered: May 2005
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I find nothing about Barnett which suggests he engages in questionable activities. However, none know what goes on privately. Nonetheless, he should be given benefit of doubt.
OMDA Oil and Gas, Inc. Adam Barnett, 305-609-2345 (OMOG)
McLagen Partners, Inc. Head of Asset Management Adam Barnett
Adam Barnett (Stamford) M.B.A. in Finance, Leonard N. Stern School of Business, New York University; B.S. in Management, College of Business and Public Administration, New York University. Towers Perrin; U.S. Marathon Ltd.; Chemical Bank
Some readers might entertain looking at his OMOG to determine quality of management.
"Once a company gets off the list don't they usually go back up?"
Usually not.
Prime factors in recovery are two basics.
How fearful are future investors? What steps are taken by management?
Greatest challenge is naked shorting leaves a company financially devastated and unable to obtain financing. Few companies survive this.
Naked shorting is extremely widespread and is a leading cause for nine out of ten emerging companies to fail.
ALMI "was" an emerging company and still is, to a measured degree. You can look back in history and note what steps Jacobson took to protect his company. Most defensive step he took is to pay cash for almost everything and, when financing, he used traditional style lending through reputable sources. He also enlisted financial help from private sources. Another defensive measure is Jacobson developed other safe sources of income, such as his mining contract services and timber harvests. He built his company on a sound financial base.
IESV is another like ALMI. IESV was and is very profitable as an engineering firm. Their biogas research is funded by their excess profits from contract services, and their employees serve both ends of the business. IESV is keeping its company small and private.
RVNM, in contrast, is a known scam operation. Last year and this year, they have been naked shorted into oblivion. RVNM is a paper shell which the DiFrancesco have led investors into believing RVNM holds license and royality rights for their daughter's spinoffs, such as DVD, toys and such. Truth is, the cash flow is straight into the DiFrancesco's pockets, and perks like fancy cars, dining, travel, are written off to the paper shell, at investor expense. RVNM has no financial strength, no viable product and is a known scam. Naked shorters are working RVNM investors like vultures. The DiFrancesos do nothing being satisfied with leading a luxuary lifestyle on investor's money.
However, RVNM will have to fold very soon leaving the DiFrancescos with only that money they ripped off from investors. They will return, though, with some new paper shell company.
A twist is they won't be able to use thier daughter, Gina, as a platform for fraud; her identity cannot be concealed.
Ironic both DiFrancescos have good ties into the movie and television business, and both have won Emmey awards. Both elected, however, to not exploit their connections nor awards but rather simply scam the public.
You should see a pattern within those contrasts. Naked shorters are vultures. They prey only upon companies which are weak, sick or near death.
It is logical, then, few companies survive those vultures being initially weak and easy prey.
posted
Had to go back several years in my personal postings to find this. Here is an example of how research, good research, can lead to important information, even when that information is hilarious.
2005 Q1 gross profit $13 (yes, thirteen dollars) Total Deficit $29,203,722 Public Float 20 billion
The Company paid Gina Mouery (daughter of company owners) over the last THREE months:
$6,000 as an advance on future royalties $752 a month for a leased car $1,000,000 of registered shares of common stock $80,000 for the three-month period Gina Mouery exercised 19,224,113 options for $458,070. 227,844,050 shares of common stock for talent fees
2005-05-17 10:12:02 Premier Development & Investment, Inc. Executes Sale and Divesture of its Countrywide Realty Services, Inc. Division; Reports Updated Revenue and Earnings Guidance Projections for 2005
DALLAS--(BUSINESS WIRE)--May 17, 2005-- Premier Development & Investment, Inc. (OTC Bulletin Board: PDVN), announces that it has sold back its ownership of Netex Financial Services, Inc. d/b/a Countrywide Realty Services to Joseph Machado, Countrywide's original owner. In an agreement executed with an effective date of April 1, 2005, Premier Development and Investment in exchange for its title and interest in the assets of Countrywide received back 400,000 restricted and 100,000 free trading shares of Premier Development & Investment, Inc. common stock in the transaction.
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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posted
hmmm didnt i say that business was missing they left out proceeded to get rid of the shares.
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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posted
i don't have time to DD it all out during trading hrs...
BUT,
i THINK that's the missing peice of the puzzle on why the PPS tanked..see that it's back-dated to April 1st? still missing some form 4 insider trades forms i bet.....
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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quote:Originally posted by glassman: yes, somebody give keith some 5 star votes i can't bear to see him with only 3....
LOL somebody got mad at me other night, got like 10 votes, some new guy thought i gave him one star...i really don't care Posts: 9110 | From: boston, ma | Registered: Jan 2004
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posted
Glad to see them get rid of it and focus on Player's Grille. Never bought it for the realty company anyway.
Posts: 22 | From: Columbus, Ohio | Registered: May 2005
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posted
i bought it mainly out of curiosity. figured better odds than the lottery!!!!!!!!!!!!1
Posts: 70 | From: west end of Michigan's upper peninsula | Registered: Jan 2005
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posted
sorry andy: On May 18, 2005, the Registrant issued a press release announcing a 1-for-200 reverse stock split. The record date of the reverse split is set for June 3, 2005 and the effective date of the reverse split is set for June 9, 2005. There will be no fractional shares issued as a result of this reverse split. Any fractional share amounts or shareholders holding one share of post-split stock or less shall be paid in cash for their fractional ownership based on the closing price of the Registrant's common stock on the record date. A copy of the Registrant's press release is attached hereto as Exhibit 99.1 and hereby incorporated by reference.
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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posted
normally? dogfights don't end in death... when man is not encouraging a fight to the death? the losing dog usually lies on his back, exposes his throat, and urinates on himself....
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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posted
Sorry to say that this news release just jerks my chain. I guess I have nothing left to do but hold on to this thing now.
Posts: 22 | From: Columbus, Ohio | Registered: May 2005
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posted
Gee by the time this thing hits sub pennies and the do the 1-200 reverse split it will be about the same darn price per share it is at now.
Posts: 22 | From: Columbus, Ohio | Registered: May 2005
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