quote:Originally posted by H2NRG: So, our FS shares are worthless, or is there still covering coming?
NO, IMO? this now a LEGAL matter... i think we have some people her who already said they were interested in representing themselves their own plaintiff... pcloadleter? you there?
consider this too...that FLA law was UNETHICAL...
the people who proposed that law? need to be investigated too...
-------------------- 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
That will give them 10 shares...they only need 10 now instead of 11 because the guy that sold early is missing.......(disclaimer: everything I have said today is BS...)
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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posted
You get up every morning From your 'larm clock's warning Take the 8:15 into the city There's a whistle up above And people pushin', people shovin' And the girls who try to look pretty And if your train's on time You can get to work by nine And start your slaving job to get your pay If you ever get annoyed Look at me I'm self-employed I love to work at nothing all day And I'll be
Taking down Wall Street (every day) Taking down Wall Street (every way) I've been taking down Wall Street (it's all mine) Taking down Wall Street and working overtime
Posts: 7504 | Registered: Dec 2003
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posted
it can't let em off the hook. If so, the big winners who sold get to keep their cash, which makes my broker liable for keeping me from selling...how they going to let em backdate?
posted
Buy tex and what about the ones who were told to sell at your own risk......????? Not to mention the fact that Amtrade posting them early....my confidence in them is a little low right now, knowing that they would put me in this predicament in the first place.
There are a lot of people in trouble here....
Posts: 529 | From: Tx | Registered: Sep 2004
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posted
i think the argument there, dish, is you were considering your risk in light of that advisement, but still had time to trade. Then they came back and started halting trading, etc, running into some sort of "prudent" or "reasonable" wall. There's so many mistakes in this whole deal, that the only way to "win" is to keep pushing and don't quit, imho. If you'll notice, my first post of the am was "we need a lawyer," and we do. If we give up, they might well walk, at least from us. I'd be real surprised if Pearce & gang haven't hitchiked to the airport from their crashed getaway car. I can see them now in their lil airport slippers going through security...
posted
In light of the latest news....I shoulda sold them all.....
News out from the company
SEC Suspends Trading in Gluv Corp.'s Shares Business Wire - May 27, 2005 14:01
Gluv Corp. (Pink Sheets:GVRP) announced today that the Securities and Exchange Commission had issued an order suspending trading in the company's common stock this morning.
Earlier this week, the company requested the SEC to halt trading in connection with a serious problem that had arisen when quotations on the Pink Sheets Electronic Quotation and Trading System reflected that its outstanding common stock might be as much as 99 trillion shares. The company believes that this incorrect information about its outstanding shares entered the market place when the Pink Sheets system began reflecting that 33 million shares of the company's stock were trading "when issued" with a due bill for a three million share dividend attached to each of them, instead of showing that only the 11 shares that were actually outstanding prior to the declaration of that dividend should have been trading with that due bill attached.
The company further announced that the SEC Staff was continuing to monitor the situation.
Robert W. Pearce, the company's chief executive officer, said: "We are very grateful to the SEC for having acted so quickly in response to our request for help. The confusion about the actual number of the company's shares that are publicly available for trading appears to have caused some investors and various members of the brokerage community to be maintaining positions in our stock that are far in excess of the actual number of shares that we have outstanding. It is our hope that the SEC will ultimately resolve this problem by fashioning a solution that will permit the brokerage community to reverse the trades that should not have occurred in our stock during the past week."
SOURCE: Gluv Corp.
Media Magic, Inc., West Palm Beach D. Ruggeri, 561-491-0870 info@mediamagicinc.com
Copyright Business Wire 2005
-------------------- Raptor----Don't confuse bad luck with bad judgement Posts: 1813 | From: Ft. Worth Texas | Registered: Aug 2004
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quote:Originally posted by glassman: i want to go back to the bill that FLA passed to allow the co's to screw the shareholders at will....
anybody want to test the constitutionality of it????
i want to push it all. btw, i missed your earlier tag bout not needing shareholders. We ever run one these heavy-duty sessions again--don't mean a scam, just requiring lottsa DD and ongoing thread--we need a DD section up front or a separate thread and a duty roster for eod summaries and morning updates, again jmho...the thread is good for real-time breakouts, but hard to manage for DD facts, etc.
(snip from discussion with attorney Joe Kamnick)...
He was kind enough to allow a little more out by stating they do not want to make the problem worse and are taking great care to "put the pieces back in the right places" without causing harm to individual investors....
"Put the pieces back in the right places."
His statement tells me everything I need to know and tells me exactly will happen in the near future....
****
Business Wire - May 27, 2005 14:01
Robert W. Pearce...It is our hope that the SEC will ultimately resolve this problem by fashioning a solution that will permit the brokerage community to reverse the trades that should not have occurred in our stock during the past week....
Posts: 7504 | Registered: Dec 2003
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we find that they want to issue trillions of shares to give to us. we know SEC was looking in to them.
It is my opinion that the SEC will not allow them to just give these shares out. Why: because it is illegal by SEC rules as we know. Also: this would give the company all the money from selling before the ex-date as well as all the money from illegal F/S sharees (the ones we currently have or don't have in our accounts)the SEC doesnt want all companies to do this, this company can not be rewarded.
I am not sure what the SEC will do, (buy back, unwind etc..)I am of the opinion that trading was halted so they coud sort this out and stop them from dilluting with the newly applied for shares.
Keith
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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posted
That PR's not fooling ennybody! SEC had documentation in their hands Monday am re the hedzup the company ignored...But they are spinning it. heysuse holy moly. Hey, what the cheapest way to form a "legal" group/entity, etc so we can post to bizwire et al? I'm mad as hell and ain't gonna take it anymore...remember that? By the way, I'd like help checking out this "Ken Scordo" on i-hub, who apparently got his account suspended today. One his remarks was that SEC is looking at shareholders as the scammers. If I read it right, he claimed to be a broker with OCS, which may be the same OCS where this amendment was posted. Although it also looks like the mod who suspended "Scordo" is the gut who actually went to the statehouse and dug up a paper copy of the amendment. funny story, if true. Anyway, anybody know the scoop on Scordo? purl posted the link earlier, "Bob might think it's funny"
we find that they want to issue trillions of shares to give to us. we know SEC was looking in to them.
It is my opinion that the SEC will not allow them to just give these shares out. Why: because it is illegal by SEC rules as we know. Also: this would give the company all the money from selling before the ex-date as well as all the money from illegal F/S sharees (the ones we currently have or don't have in our accounts)the SEC doesnt want all companies to do this, this company can not be rewarded.
I am not sure what the SEC will do, (buy back, unwind etc..)I am of the opinion that trading was halted so they coud sort this out and stop them from dilluting with the newly applied for shares.
Keith
And I'm hoping you are right.
-------------------- Raptor----Don't confuse bad luck with bad judgement Posts: 1813 | From: Ft. Worth Texas | Registered: Aug 2004
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