posted
"A COMPANY CAN ISSUE SHARES AS LONG AS THEY MAKE IT PUBLIC MEANING PUT IT IN A PR FOR THE PEOPLE."
I guess it is over. I knew they were going to be allowed to do this.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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who do you use again ameritrade???? did they let you take your money out???
thanks dennis
Not releasing funds until shares are delivered. According to the company, that will happen soon, so I expect at that point my trade will settle and at least I will get about 10 grand out of this.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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quote:Originally posted by Trader88: "A COMPANY CAN ISSUE SHARES AS LONG AS THEY MAKE IT PUBLIC MEANING PUT IT IN A PR FOR THE PEOPLE."
I guess it is over. I knew they were going to be allowed to do this.
that is an untrue statement taken from a poster at another board. If you want a true statement check with the lawyers in Carols column.
remember, anyone can write or say anything.
True, they can write or say anything, but why is almost everyone saying the same thing? No conversations posted that I am aware of have the SEC watching our back. NONE. I even talked to one personally, and he was completely clueless.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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posted
There's nothing else they can think of to do, so they will go forward with this plan. Breaks all the rules, yes, but obviously they dont give a F. Rules are meant for breaking, I guess.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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posted
yes some SEC guys are cluelesss, as are brokerages are. The lawyers know the rules. Not saying it'll work out in our favor. Just waiting.
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posted
I am in the same situation the only thing Im not sure of is this paragraph
-- the shareholders who sold shares into the market after the declaration of the stock dividend have accepted an offer from the company to exchange each of their shares of common stock for 3,000,000 shares of Class A common stock, thereby injecting into the market the 414 billion shares of stock necessary to settle out all of the buy and sell transactions that started with the sale of those 138,000 shares;
So do you read this to say that this will settle the shares that were sold or that they are going to exchange even the sold shares for new Class A shares and we will be stuck like everyone else?????
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posted
I tried calling Kosha Dalal at NASD again about a half hour ago, and left her another voice mail. Interesting--I hadn't caught before from her message that she is in the Office of General Counsel at NASD.
Kosha Dalal at NASD: (202) 728-6903
Maybe others could leave her messages to call, also.
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posted
Settled means exactly that, settled. Means you get to keep whatever you sold for. The trade is made good.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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right now that paragraph doesn't apply. becuase company is screwed.
us shareholders are also screwed per se. and my sollution (insurnace company buybaback or tender offer) doesn't apply yet either.
This pr. by them most likely not be allowed by the SEC as it is completely against the rules, laws and current methods. Would create Chaos etc...
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posted
right now that paragraph doesn't apply. becuase company is screwed.
Well thats what I thought as well It didn't seem like there was anyway in Heck that the SEC would allow what they are proposeing but it seems like the SEC is makeing this the presedent and they are going to allow them that. JMO I agree it sucks and is not right I just dont see them trying to protect the share holders. IMO
OT hows the wife doing hope shes feeling good mine is a little emotional Ha (the Ha is for the word little) anyway hope you having a great day
right now that paragraph doesn't apply. becuase company is screwed.
us shareholders are also screwed per se. and my sollution (insurnace company buybaback or tender offer) doesn't apply yet either.
This pr. by them most likely not be allowed by the SEC as it is completely against the rules, laws and current methods. Would create Chaos etc...
We'll find out soon enough, if the shares actually get delivered then I guess it's going through. Unfortunately, I think the regulators are going to look the other way. Will set a bad precedent for sure though, every company and their brother is going to try this scam. Opens pandoras box for sure.
I guess the message will be: Look out for forward and reverse splits!
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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quote:Posted by: stock_rancher In reply to: Rocket Blasters who wrote msg# 65821 Date:6/23/2005 2:14:58 PM Post #of 65834
Interwest Update:
Kurt, " Said the shares have been authorized and are being issued over the next 24 to 48 hrs. those that have not recieved the shares will get them if they were not SHORT!"
stock_rancher, " Does this mean there will be covering of the shares and there will be a market to sell these shares prior to the reverse split?"
Kurt, "That is a broker function and I can not answer that"
stock_rancher, " I'm glad I'm getting my split-shares, however, is the company going to issue a press release saying it's OK to trade now?"
Kurt, "I have no idea"
stock_rancher, " I would hate to have the market not allow trading and I get reversed out"
Kurt, "Yes, there is a reverse split coming"
stock_rancher, " I know the company has said the insider sold 135k shares prior to the forward split, however there was far more than that amount traded. I know for a fact that NITE was on the other side of my trade, could they be short?" stock_rancher, "Thank You for your time"
posted
That's interesting "if they were not short"
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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posted
The only person short I am aware of was the a hole who originally sold the 138,000 shares with due bills attached.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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posted
Pretty amazing to me that the SEC hasn't at least put out comment on the News from Gluv. I was expecting that yesterday or today. I guess since they're doing nothing and letting the company do what it wants, there would be no need to comment.
Expect this same situation to happen again and again with shells in the future. Game on, and apparently approved.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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posted
Trader, from brokers to NASD spokespeeps: this is under investigation by SEC. SEC issues no pr, no nothing re *any* ongoing invesitgation.
NASD tells me over the phone to get to an opinion re legality of GLUV's latest ploy from an attorney...
We should hire, as a group, a securities-versed attorney who can counsel. NOT saying a "class-action lawsuit," simply pay the one-to-two hours' fee necessary to read our best group brief, then do research, then render an opinion.
Actually? We as a group (board?) should keep a sharp, well-versed attorney on retainer...say, 2% of profits from all trades ...??? or some other reasonable schemata...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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to: enforcement@sec.gov to: chairmanoffice@sec.gov
EMAIL: -------
You, the reader, are well aware of actions taken by GLUV Corporation trading as ticker symbol GVRP.
GLUV issued news of a forward split, sold to buyers on that news, have "state registered" new shares to cover the forward split, and have announced a reverse split to remove public shareholders.
We, a group of investors, estimate GLUV will clear between one-half-million to one-million dollars in profits, recycling a shell company.
Our investor group is awaiting a decision or no decision by your SEC on the GLUV affair.
You should take no action, this will be SEC sanctioning of recycling shell companies as GLUV Corporation is doing.
Our investor group is currently moving ahead with plans to purchase empty shell companies once a quarter. Easy to do with an agreement to issue shares in the new company to the seller, perhaps toss in an small amount of money, maybe fifty-thousand dollars to sweeten the deal.
We will then proceed to announce news we are looking for viable investments, but nothing specific as of date. We will also announce a generous foward split, like one million shares for one share to prompt buying. Once shares are sold, we will "state register" new shares to cover, then reverse split out all public buyers.
Our estimate is we can clear one-million to three-million dollars per quarter, with a goal of a net profit of eight-million dollars per year, simply recycling shell companies just as GLUV is doing.
We urge you at the SEC to take no action on this GLUV affair. Your lack of action will sanction and set case precedence our plans are legal and approved by the SEC.
quote:Originally posted by Purl Gurl: Sent this email.
to: enforcement@sec.gov to: chairmanoffice@sec.gov
EMAIL: -------
You, the reader, are well aware of actions taken by GLUV Corporation trading as ticker symbol GVRP.
GLUV issued news of a forward split, sold to buyers on that news, have "state registered" new shares to cover the forward split, and have announced a reverse split to remove public shareholders.
We, a group of investors, estimate GLUV will clear between one-half-million to one-million dollars in profits, recycling a shell company.
Our investor group is awaiting a decision or no decision by your SEC on the GLUV affair.
You should take no action, this will be SEC sanctioning of recycling shell companies as GLUV Corporation is doing.
Our investor group is currently moving ahead with plans to purchase empty shell companies once a quarter. Easy to do with an agreement to issue shares in the new company to the seller, perhaps toss in an small amount of money, maybe fifty-thousand dollars to sweeten the deal.
We will then proceed to announce news we are looking for viable investments, but nothing specific as of date. We will also announce a generous foward split, like one million shares for one share to prompt buying. Once shares are sold, we will "state register" new shares to cover, then reverse split out all public buyers.
Our estimate is we can clear one-million to three-million dollars per quarter, with a goal of a net profit of eight-million dollars per year, simply recycling shell companies just as GLUV is doing.
We urge you at the SEC to take no action on this GLUV affair. Your lack of action will sanction and set case precedence our plans are legal and approved by the SEC.
Please consider our request to take no action.
Regards,
Bozo The Clown
Purl.......DAMN nice.
-------------------- Raptor----Don't confuse bad luck with bad judgement
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quote:Originally posted by Raptorsrule: I'm in.....say the word
Raptor, assuming your response was to this part of the post, yes?
"We should hire, as a group, a securities-versed attorney who can counsel. NOT saying a "class-action lawsuit," simply pay the one-to-two hours' fee necessary to read our best group brief, then do research, then render an opinion."
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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