posted
I drilled into Scottie today to ask about the ex-date...
ex-date, ex-date, ex-date...*where* is NASD's ex-date posted? Regardless of FLA law, where/when is ex-date? Are they saying no ex-date because it wasn't trading...
Hullo? Why wasn't it trading...NASD issued Special Notice, killing the market...
thereby becoming complicit, especially if it trades r/s at .05 with their blessing...
Instead of protecting investors, they helped company screw us...hmmmmmm
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
posted
my scottie balance is based on last trade of gvrp: .0002
I think that is correct, despite the .001 that slid through...
.0001? I can live with that.
If they wanna base it on .05, then multiply by 3mm, kewl
BUT i *will not* abide a post r/s price of .05.
That's just ridiculous...
WFTV recently reverse-split, eg, 200:1 AND did a ticker change...the price was based on last trade before the split.
To say MAMG is somehow different, ie "no connection" to GVRP is totally, absolutely nuts.
The only logical train of thought--if all this goes down--is some sort of wacko "insider" job within the reg agencies to convince folks NOT to trade pinks/OTCBB...
Mr Bill writes:
"MAMG traded on 7/12 -- A sell of 300K@.0001 A BUY of 750 shares at .05"
my streamer shows exactly that buy. Ask yourself: under what kind of bid/ask structure does a sale like that take place?
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
sorry, cruz, luv ya, bro--but not funny to me if these crooks get away with it...it would be one thing to get unwound to your original investment. To watch $500 become $12.50 at the enrichment of, uhahffghhh, these punks? I'd rather fist-fight
if they pull this off? litigation is the only answer to a problem that should've been solved long, long ago...
it's stupid, and it's not only symptomatic of what's wrong with "the system" but worse, it's emblematic re what's wrong with this country...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
posted
If pinks can't be pinks, ie, Electrolux dodging Sarbanes-Oxley, TNOG coming from outta-the-blue, PLNI grinding through the wall--then where the heyellll will "new" public companies come from? If "upstarts" can not emerge from pinks and OTCBB, what does that say about job-creation?
Put it another way: what if all the leaders on this board decide to just day FUKK the .pk's and .ob's? See y'all on the big boards?
Jeez, all we small investors/traders/losers/winners provide the grease/capital to skid this monster along the track.
You guys ready to send your rent/mortgage to China?
That's where it's headed...
unless you demand accountability from your market...
[ July 27, 2005, 22:26: Message edited by: BuyTex ]
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
posted
i didn't mean it to come out that buytex. i'm sorry. maybe an angel bought those 750 at 0.05 because the post r/s split price will be adjusted from that point. we will sell at 150K pps warren buffet will buy these.
IP: Logged |
posted
very interesting mr. bill. we need someone on the inside of amtd to find out what is really goin one. the online support people wont tell us.
IP: Logged |
posted
Seems like the 8K being filed on 7/12 might have been related to the weird trading. In looking more it looked like they took a year end picture on 6/24 or so. Still, one must wonder with the TDW merger if they may have been taking a picture of their customer assets on the day they filed the 8K
posted
I agree with whoever posted that, after any r/s the price has to come out of the box equal to what it was before the split, technically that is .05, but the case can be made for sure that it is at least .0001, the stock traded for that billions and billions of shares. We should open at $300 per share. I will have my finger on the trigger pre market, because it will of course go down from there rapidly. I'll take half of that.
-------------------- 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.
IP: Logged |
posted
True, r/s is not showing up anywhere. A few people have said that their brokers have r/s the shares tho, LOL. Based on a PR, now that's funny. Rumor is that MAMG trades on Monday, will be interesting to see how. If it is another clusterfk and the price is somehow through the roof, THIS TIME I'M SELLING EVERYTHING!
-------------------- 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.
IP: Logged |
posted
Would be funny if MAMG comes out .05, after the r/s that would open up at $150,000 per share. Just let me sell 10 shares, I'm happy.
-------------------- 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.
IP: Logged |
posted
Scottie still telling me r/s shares will be priced at .05...
Here's the thing, though, T/A so far has NOT been able to tell me the ex-date.
imo, everybody needs to send this to their brokers, with a request for compliance dept.s to confirm ex-date:
"Background NASD member firms or their registered representatives from time to time respond to customer inquiries regarding ex-dates relating to dividend and other distributions. In some cases, customers have drawn erroneous conclusions regarding ex-dates. In particular, large dividends that result in the designation of ex-dates after the record and payable dates have caused confusion in the case of customers who effect sales transactions after the record date but before the payable date and believe therefore that they are entitled to keep the dividend. Securities and Exchange Commission (SEC) Rule 10b-17 requires issuers to give notice of dividends and distributions to the NASD no later than 10 days prior to the record date.1 The NASD then establishes the ex-date for the distribution and makes this information publicly available on a Daily Dividend List on the Nasdaq TraderSM Web Site (www.nasdaqtrader.com/dailylist/ dl_di_ind.stm), which shows the issuer name and symbol, declaration date, amount of dividend, the ex-date, the record date, and the payable date"
Also, file a "Tip" with NASD that brokers and TA are saying they will effect an r/s in violation of SEC rule 10-b-17. Will post that link later, unless someone else does it first...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
posted
Unreal. Scottie is dead wrong. How did they come up with .05? Second of all, who are they to say what the price should be? Third of all, the price needs to be proportionate to the last trade pre split. $150,000 per share. Go down from there if you want MM's, but I'll get 1 or 2 shares sold on the way down.
-------------------- 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.
IP: Logged |
posted
TA still unable to provide ANY of these dates re latest "r/s":
record, pay, or ex...
4-5 phone calls now.
NASD can't provide anybody who knows who it is within NASD that OK's ex-dates...
"it's two days before record date"
Maybe you're confusing cash and stock dividends...
"why do you say that?"
cuz I was reading your Web page
"O, really? What's the url?"
sheesh-o-mighty...
Explain eveything again...
"Well, I can't do anything about ex dates. This is a regulatory agency."
Exactly. That's why I'm asking to regulate this misinformation. My broker and the TA are prepared to effect a reverse split based on the company's PR. The split has no ex-date. Per your own page, the company has to file per SEC 10-b-17 so NASD can post the ex-date.
"OHhhhh, well you need to file a complaint."
Can't--your online form only allows for complaints against brokers. Mine says they're following directions from DTC
"Well, ok...then file a 'tip.' "
Excellent suggestion. I will...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
posted
Man, I love this country, but it has gone to hell in a handbasket. The level of incompetence is unreal. And not just on GVRP. Nobody wants to take responsibility for anything anymore.
The Chinese are smart, unfortunately I think they are in a nice position to kick our @$$ and we deserve it.
-------------------- 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.
IP: Logged |
posted
Latest re: R/S from Scottrade's Compliance dept...
"This email is in response to your recent inquiry on the above referenced security. As you are aware, there were numerous issues with regard to the reorganization of this company. Due to the confusion this issue caused, many brokerages endured delays with the posting of the split shares. In addition to this issue, the company also announced additional changes on this security, including a name change to Media Magic Incorporated. At this time, a majority of the shareholders have been credited with the original shares due to the forward split owed. The next step is to exchange these shares to the new symbol of Media Magic (MAMG) and post the reverse split that was also announced. In order to complete this process, we are working with the Transfer agents and DTC to determine how this may be accomplished. It is undetermined at this time if this new security is DTC eligible, which would allow it to be exchanged electronically so that they can be be posted directly into your account. In the event it is not, Scottrade will have to issue certificates to you directly. We are in contact with the proper entities so that they may assist us with how to proceed from this point. We sincerely apologize for the frustration you have endured with this matter and assure you that Scottrade is working diligently to get this issue resolved. Unfortunately, this matter was not within our control and we are doing our best to get this matter expedited so that you receive these shares as quickly as possible. We appreciate your patience."
I replied, asking if they had spoken with the SEC, NASD, or the FL Examiners office regarding the legality of the R/S. Doubt I'll get a response in time.
IP: Logged |
posted
I think it's even worse than shunning responsibility. As you say, incompetence...how can you have a job "of authority" at a regulatory agency and some Joe Blow who just started trading in April knows more about the market, rules and regs than you do? I hadda tell *him* how to find the NASD Web site? I'd laugh, but...really? It's not funny.
The Chinese? I'm thinking I'll take a language course in one of the major dialects, so I can at least brown-nose for tips from our new landlords...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
I have two, possibly unrelated, questions. When you answer, please also forward the answer to all branch managers, with instructions to read aloud to all branch employees--
Your most recent reply mentions a "reverse split," possibly based on the misleading press release issued by GLUV/Media Magic; please provide with me with these dates involving that reverse split: the record date, the pay date, and the ex-date.
As I'm sure you're aware, NASD sets the ex-date from company-supplied information, then posts that on the NASD Web site.
I've never seen any post on the NASD Web site...so, to repeat, can you as my broker please supply me with the record date, pay date and ex-date regarding the reverse split you mention in your attached reply?
Now, on to other matters. Can you please explain the term "fiduciary responsibility" as it applies between broker and client?
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
posted
Sounds to me like you guys who are still with the GVRP shares are screwed. You will have to exchange it with the T/A for MAMG shares and then they will R/S it. It was R/S unofficially but probably legal within the state guidelines. Man, Pearce and his cronies came up with a mastermind plan. The Sec, NASD and state officials all probably agrees with it.
IP: Logged |
you mean, I gotta take the yacht back? I showed my banker my trading account balance, pledged it as collateral...surely my banker wouldn't let me do anything financially unsound...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
posted
Well, if we are screwed, then the whole market is screwed because this sets one hell of a precedent. Expect this to be repeated many times in the future, beware of any split from any company, pink sheet or not. That's the real danger here, not just this particular stock.
-------------------- 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.
IP: Logged |
posted
Certain rules and regs are in place, and they should be followed. If that is "doing right", then I guess the answer should be yes. Pink sheet companies get away with a lot of crap, but this is WAY over the top. It's still not over yet, I don't see how you know we are screwed.
-------------------- 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.
IP: Logged |
posted
Some have MAMG, some still have GVRP. Let's wait for the fat lady to sing, she hasn't started her tune yet.
-------------------- 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.
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Big Grin]](biggrin.gif)
![[Smile]](smile.gif)
LOL
![[Wink]](wink.gif)
![[Cool]](cool.gif)
![[Mad]](mad.gif)
