quote:Originally posted by Raptorsrule: I also asked her has she ever....ever.....ever...heard of a company simply changing their mind on an issue like this after many days of trade and legal filings....to which she said no....imagine that...we have a precedence setter here.
hmmmmmm, heard that somewhere before
Raptor your broker sux.
(same as mine but i said it to glass so)
Posts: 9110 | From: boston, ma | Registered: Jan 2004
| IP: Logged |
posted
I'm starting to like elite's position (i believe it was elite). I cannot recommend going to a grocery store while employees are mopping then falling down in order to sue them. That's a scam. We otoh saw a company that had been trading at a very high price before its r/s. Who's to say this current pps is "over-valued"? Don't divide by Friday's close, divide the pre r/s price by 3mm, or even the .0005 buyout and I think it's quite a bit higher than .0001. So, what about making at least a small trade in order to be named as a plaintiff for resultant litigation? ????MAYBE???? this is landmark in more ways than one...current congressional opinion on NSS is pretty hot...
posted
I thought perhaps a PR would come today, in fact I thought it likely. We never saw one, and their strategy may be just to drag this sucker out real long and tire everyone out, or just evade everything as long as possible and get to the Caymans somehow. I don't know but this is starting to make me physically ill. Maybe I'll add pain and suffering to the claim.
-------------------- 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. Posts: 502 | Registered: May 2005
| IP: Logged |
quote:Originally posted by Trader88: I thought perhaps a PR would come today, in fact I thought it likely. We never saw one, and their strategy may be just to drag this sucker out real long and tire everyone out, or just evade everything as long as possible and get to the Caymans somehow. I don't know but this is starting to make me physically ill. Maybe I'll add pain and suffering to the claim.
pain and suffering...imagine all the traders who would agree with that...
quote:Originally posted by pcloadletter: The Monday trades will have to clear by tomorrow.
This is lokking better and better!
I think Fridays trades clear tomorrow. All I know is that the due bills are due tomorrow by midnight! Weeeeeeeeeeeeeeeeeeeeeeeeee
-------------------- 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. Posts: 502 | Registered: May 2005
| IP: Logged |
posted
Buy Tex, you probably do not need to make a sale to be part of any class action lawsuit. I did so to be available as a name plaintiff before a class is certified for any cause of action. I believe like Keith that the TA seems the most likely suspect here in releasing shares early and someone in the company just cashed in. Part of me wonders if the actual payday is the policy limits of the TA's insurance policy divided by the ourstanding shares. That could lead to a very small valuation unless the policy is HUGE and other assets can be thrown into the pot.
Posts: 81 | From: Tennessee | Registered: Mar 2005
| IP: Logged |
posted
Various numbers have been thrown out there. I hear anywhere from 50MM - 200MM to cover this, depending upon how much pps goes up during the covering. Remember, there will be speculators too. Settlement is out of the quesion. Again, I'll make the analogy: If I do a bad trade, can I just settle with my broker or whoever and say "sorry, I just can't cover fully, so lets make a deal" LOL
-------------------- 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. Posts: 502 | Registered: May 2005
| IP: Logged |
quote:Originally posted by elitedb: Buy Tex, you probably do not need to make a sale to be part of any class action lawsuit. I did so to be available as a name plaintiff before a class is certified for any cause of action. I believe like Keith that the TA seems the most likely suspect here in releasing shares early and someone in the company just cashed in. Part of me wonders if the actual payday is the policy limits of the TA's insurance policy divided by the ourstanding shares. That could lead to a very small valuation unless the policy is HUGE and other assets can be thrown into the pot.
My issue w that is scanning InterWest's Website did not show insurance info and I'm too new to know if they MUST have insurance for such cases. Other TAs, as I remember, *do* list such info on their sites. I believe we have been in agreement for many pages of this behemoth thread re liability -->>>TA, but don't know nuthin about limits/os. My main point was inspired by the "believe in fighting NSS--which I do--then make at least a small trade that won't hurt you if you have to cover."
quote:Originally posted by Trader88: Various numbers have been thrown out there. I hear anywhere from 50MM - 200MM to cover this, depending upon how much pps goes up during the covering. Remember, there will be speculators too. Settlement is out of the quesion. Again, I'll make the analogy: If I do a bad trade, can I just settle with my broker or whoever and say "sorry, I just can't cover fully, so lets make a deal" LOL
I hear you, and agree about their scamminess. otoh, I would settle, right now: based on my projections of selling for an average price of .0004, I'll settle right now tonight for .00028
quote:Originally posted by Trader88: Various numbers have been thrown out there. I hear anywhere from 50MM - 200MM to cover this, depending upon how much pps goes up during the covering. Remember, there will be speculators too. Settlement is out of the quesion. Again, I'll make the analogy: If I do a bad trade, can I just settle with my broker or whoever and say "sorry, I just can't cover fully, so lets make a deal" LOL
I hear you, and agree about their scamminess. otoh, I would settle, right now: based on my projections of selling for an average price of .0004, I'll settle right now tonight for .00028
I want the market to decide what it's worth, and the market seems to think the floor is .0001-.0002, up from there. Settling for me would be somewhere around probably .0005 or 6 honestly.
-------------------- 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. Posts: 502 | Registered: May 2005
| IP: Logged |
posted
What gets me is that someones broker said that they weren't allowing buy/or sell because the stock traded the past couple days for an "inflated" price. What I want to know is how can they say its inflated when the market determines that?????? Who knows, maybe this Digikids Co. is worth more than we think, or could be in the future, what right does a broker have to determine if its inflated or not.
-------------------- 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. Posts: 502 | Registered: May 2005
| IP: Logged |
posted
my point, trader, is deals get "settled" all the time. I agree with your premise, live sword, die sword. They need to "let em play ball."
Or, stop it, everybody's broker! STOP Now, Back out about 12bb worth of trades, negate an eod run from appr 2.0 to over 2.0 above ask, then back out the profits reinvested in other stocks, etc, etc, etc.
quote:Originally posted by Trader88: What gets me is that someones broker said that they weren't allowing buy/or sell because the stock traded the past couple days for an "inflated" price. What I want to know is how can they say its inflated when the market determines that?????? Who knows, maybe this Digikids Co. is worth more than we think, or could be in the future, what right does a broker have to determine if its inflated or not.
my point about the pre r/s price...if "they" know it's overvalued---what the he77 does that say? Let's just ask them and quit trading...
We anticipate receiving a distribution of these additional shares to disperse to our customers who are due the shares within five to seven business days. Typically with foreign and/or "low value" type stocks there can be a slight delay in getting the distributed shares from the transfer agents and having them credited to the account.
If you have any other questions or comments, please send us another message at any time. We appreciate your business.
Sincerely,
Posts: 60 | From: boston | Registered: Nov 2003
| IP: Logged |
quote:Originally posted by greatimes: Subject: RE: GVRP Forward split
Date: 5/24/2005 2:11 PM
Message:
We anticipate receiving a distribution of these additional shares to disperse to our customers who are due the shares within five to seven business days. Typically with foreign and/or "low value" type stocks there can be a slight delay in getting the distributed shares from the transfer agents and having them credited to the account.
If you have any other questions or comments, please send us another message at any time. We appreciate your business.
Sincerely,
which broker is this from?
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
| IP: Logged |
quote:Originally posted by greatimes: Subject: RE: GVRP Forward split
Date: 5/24/2005 2:11 PM
Message:
We anticipate receiving a distribution of these additional shares to disperse to our customers who are due the shares within five to seven business days. Typically with foreign and/or "low value" type stocks there can be a slight delay in getting the distributed shares from the transfer agents and having them credited to the account.
If you have any other questions or comments, please send us another message at any time. We appreciate your business.
Sincerely,
details, please: to/from, full headers, circumstances, etc...
Posted by: pdc021376 In reply to: GA1 who wrote msg# 52657 Date:5/24/2005 9:34:03 PM Post #of 52691
Appaently they are calling people and saying they are short now but nice finds by timmage, bob, art, etc...
"NASDR also notes that the obligation for making an affirmative determination and complying with the Bid Test Rule rests with member firms and may not be shifted to customers. For instance, members may not satisfy the Affirmative Determination Rule for short sales by merely giving warnings to customers that they are required to make good delivery of the securities or that they will be financially responsible for any losses incurred from covering short sales." and "receipt of a short sale and the "inadvertent" nature of a short sale in no way eliminate or reduce the obligations of member firms to comply with the short sale rules." Both of these items are found here in the NASD regulations.
Also it appears that we are supposed to be notified if a position might be sold short according to this statement from the NASD. "Notwithstanding the fact that the customer may not intend to sell short, a member that offers online trading services to its customers must program such systems to ensure that the member is complying with all trading and market-making rules, including the short sale rules. In other words, when the above referenced situations occur, members’ systems should consider the stock positions in customer accounts and the number and status of all orders and cancellation instructions. Member firm automated systems should execute such short sales in compliance with the short sale rules, and NASDRSM and Nasdaq recommend that firms design their systems to provide customers with notice when they may have placed an "inadvertent" short sale. In sum, the means of receipt of a short sale and the "inadvertent" nature of a short sale in no way eliminate or reduce the obligations of member firms to comply with the short sale rules."
( BUMP this one, gang, till an informed reply supercedes ) ... seriously
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Smile]](smile.gif)
