quote:Originally posted by ruthie: I have Scottrade. I can not buy or sell this stock at this time. Anyone know what is up with this????
scottrade won't let you trade without a bid and ask...
they have always been like this... see stockinthemud's post above for a good explanation of what went on today..
the trades have to match up, and they are highy questionable...
66? trading today does show theSEC has not proven their case.. that's not how a lot of the "negative posters" presented this, nor is it what the SEC expected IMO... have you ever seen a stck suspended so quickly?
i suspect they were led to beleive that this MUST be a scam because so many complaints were filed..
that in itself should also lead to an investigation if the SEC is worth anything...
they haven't been in the past...so i don't hold my breath on any of it..
do have other questions, but:
"trading today does show theSEC has not proven their case.."
Not following that assertion...
1) SEC suspended re questions/concerns...
2) TRO upheld; next injunction granted...
what "case" has there been to prove or disprove?
I know many others have gotten confused as though a trial were involved, but I doubt you take that position.
How does its trading on greys *prove* or *disprove* anything?
quote:Originally posted by ruiz5: Why is it so hard to prove ownership of a bond. Good Lord what is the procedure? If they had all the right doc. why is the sec still not satisfied? Just very aggervated at this point...
It is actually quite hard when you look in the wrong place.
Do some research on Euroclear procedures.
There is but one real way to prove the bonds exist...Hypothecate them. Assuming none have been hypothecated as of now.
Not much the SEC can question once a bank uses one as collateral in a loan. Live by the sword, die by the sword.
Checkmate.
Port,
got a link on "Euroclear procedures" ?
Assuming hypothecation has taken place, what then?
Any examples of an agency *OR* a company either LIVING or DYING "by the sword" ?
Let me see if I can find some links.
If hypothecation has happened...well...banks do not use fictitious paper for collateral.
The sword comment can go either way...base your cash on the bonds...and not have em...you lose.
Base your case for fraud on it...and have it hypothecated....well...you know.
Someone will win and lose sooner rather than later.
Eroclear accounts are not given to just anyone. They are exclusive, VERY private and VERY secure.
It is a clearing facility for all sorts of financial products...bonds, funds, equities, etc.
For a few years now they have been planning a cross platform, cross banking, cross institution financial platform. This is being rolled out as we speak. It is the largest platform in the financial industry for what it does.
If you are not familiar with what Euroclear is....there is reading to do on the Internet.
-------------------- - "Pay it Forward" Posts: 1524 | Registered: Jun 2006
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quote:Originally posted by ruiz5: Why is it so hard to prove ownership of a bond. Good Lord what is the procedure? If they had all the right doc. why is the sec still not satisfied? Just very aggervated at this point...
It is actually quite hard when you look in the wrong place.
Do some research on Euroclear procedures.
There is but one real way to prove the bonds exist...Hypothecate them. Assuming none have been hypothecated as of now.
Not much the SEC can question once a bank uses one as collateral in a loan. Live by the sword, die by the sword.
Checkmate.
Port,
got a link on "Euroclear procedures" ?
Assuming hypothecation has taken place, what then?
Any examples of an agency *OR* a company either LIVING or DYING "by the sword" ?
Let me see if I can find some links.
If hypothecation has happened...well...banks do not use fictitious paper for collateral.
The sword comment can go either way...base your cash on the bonds...and not have em...you lose.
Base your case for fraud on it...and have it hypothecated....well...you know.
Someone will win and lose sooner rather than later.
Eroclear accounts are not given to just anyone. They are exclusive, VERY private and VERY secure.
It is a clearing facility for all sorts of financial products...bonds, funds, equities, etc.
For a few years now they have been planning a cross platform, cross banking, cross institution financial platform. This is being rolled out as we speak. It is the largest platform in the financial industry for what it does.
If you are not familiar with what Euroclear is....there is reading to do on the Internet.
posted
Now I am getting confused. Who is the lawyer? What happened to Sabra? And what about the bonds? Sounds big but I'm not getting the whole picture. Anything to do wit Netbank?
Posts: 942 | From: Wisconsin | Registered: Jan 2006
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If the SEC had discovered beyond a reasonable doubt that this was a scam/pump & dump/ or whatever would it have allowed it to trade again? I assume not. So I agree that it is probably not the sign of a big win that we traded today, but I believe that it is a sign that we have not totally lost yet, so thats something...
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell Posts: 4190 | From: Rhode Island | Registered: Mar 2006
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If the SEC had discovered beyond a reasonable doubt that this was a scam/pump & dump/ or whatever would it have allowed it to trade again? I assume not. So I agree that it is probably not the sign of a big win that we traded today, but I believe that it is a sign that we have not totally lost yet, so thats something...
Doni?
The SEC requested an injunction, citing some urgency as i recall... and they got it.
Not sure how that applies to the (admittedly widespread) *feeling* that had "the SEC had discovered beyond a reasonable doubt that this was a scam/pump & dump/ or whatever . . . ."
Can you connect the dots for me?
Are peeps saying that if the SEC has questions, it should immediately revoke a stock, without a hearing?
quote:Originally posted by MTPromises: Rufus said the injunction happened because CVSU was not prepared to go into court with what they wanted to go in with.
gee...what a surprise
Posts: 21 | From: Allen, TX | Registered: Nov 2006
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posted
Oh damn...is there something out about how she was removed as a director? If so, I didn't know that. I can't help but wonder if some of my posts about our conversations got her in trouble. That would blow big time.
quote:Originally posted by portman:
quote:Originally posted by St. Matthew:
quote:Originally posted by SherriT: I think Sabra was U.S. and Venditti was European/Int'l...I don't think he was on the BOD though, and she was...maybe just bumping him up.
This is my belief as well...I believe Sabra is still around. Unless the SEC said "get rid of her", she would be a huge loss for the company.
It's possible that she is doing a lot of Rufus' stuff in order to help Mike. Remember...until a week ago, Mike was focused on running another company.
St Matt...I like ya....but you are not getting the big brain duct tape for this one.
Sabra...removed as director...Vendetti (sp) gets her old title...
A + B = C (Math never lies)
I think there is a Star Wars saying that goes with this one.
-------------------- "If you go the Extra Mile there will be no Traffic Jams".
St. Matthew Posts: 885 | From: Dallas, Texas | Registered: Sep 2006
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posted
Rufus said Mike is using outside auditors to evaluate the company. Simon asked about whether Sabra was still with the company. Rufus said none of the executives are "with" the company. Mike is making the decisions on how to move forward.
Posts: 603 | From: Plymouth, MN | Registered: Jun 2004
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quote:Originally posted by St. Matthew: Oh damn...is there something out about how she was removed as a director? If so, I didn't know that. I can't help but wonder if some of my posts about our conversations got her in trouble. That would blow big time.
quote:Originally posted by portman:
quote:Originally posted by St. Matthew:
quote:Originally posted by SherriT: I think Sabra was U.S. and Venditti was European/Int'l...I don't think he was on the BOD though, and she was...maybe just bumping him up.
This is my belief as well...I believe Sabra is still around. Unless the SEC said "get rid of her", she would be a huge loss for the company.
It's possible that she is doing a lot of Rufus' stuff in order to help Mike. Remember...until a week ago, Mike was focused on running another company.
St Matt...I like ya....but you are not getting the big brain duct tape for this one.
Sabra...removed as director...Vendetti (sp) gets her old title...
A + B = C (Math never lies)
I think there is a Star Wars saying that goes with this one.
-------------------- - "Pay it Forward" Posts: 1524 | Registered: Jun 2006
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posted
Rufus said he designs the business and packages it and Romeo set things up through Euroclear. Romeo owns two banks.
Posts: 603 | From: Plymouth, MN | Registered: Jun 2004
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quote:Originally posted by portman: Requirements to get a Euroclear account.....not all of them but a brief summary. Not easy ones either if you think so after reading them.
posted
It is my belief that the SEC wanted the shorts to be allowed to cover. Rufus and Mike probably said "no way...we already gave them a month". That's why the SEC requested the extension. They simply were not going to allow Ameritrade to be shut down by Rufus and have their name dragged through the mud as a result. Why else would they absolutely deny the request by Mike to stay halted until we hear from the judge and sign some MM's?!?!
quote:Originally posted by T e x:
quote:Originally posted by Doniboy: Tex,
If the SEC had discovered beyond a reasonable doubt that this was a scam/pump & dump/ or whatever would it have allowed it to trade again? I assume not. So I agree that it is probably not the sign of a big win that we traded today, but I believe that it is a sign that we have not totally lost yet, so thats something...
Doni?
The SEC requested an injunction, citing some urgency as i recall... and they got it.
Not sure how that applies to the (admittedly widespread) *feeling* that had "the SEC had discovered beyond a reasonable doubt that this was a scam/pump & dump/ or whatever . . . ."
Can you connect the dots for me?
Are peeps saying that if the SEC has questions, it should immediately revoke a stock, without a hearing?
-------------------- "If you go the Extra Mile there will be no Traffic Jams".
St. Matthew Posts: 885 | From: Dallas, Texas | Registered: Sep 2006
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posted
I believe that people feel that trading at all is a victory (or at least not a loss). I also believe that if the SEC had concrete evidence that this was a scam they could have gotten a quick summary judgement and kept it off the market all together. That's all I am saying.
Unless there is something that I am missing thats what I believe.
Take a hypothetical: If the SEC had investigated CSHD and on the first day found that Rufus had made $1 billion dollars and left the country. Also, the bonds didn't exist and Sabra was actually an alias for Mr. Elgindy, do you think that they would have allowed this to trade on the gray sheets? I don't think so. I think they would have easily gotten a judge to prevent that.
quote:Originally posted by T e x:
quote:Originally posted by Doniboy: Tex,
If the SEC had discovered beyond a reasonable doubt that this was a scam/pump & dump/ or whatever would it have allowed it to trade again? I assume not. So I agree that it is probably not the sign of a big win that we traded today, but I believe that it is a sign that we have not totally lost yet, so thats something...
Doni?
The SEC requested an injunction, citing some urgency as i recall... and they got it.
Not sure how that applies to the (admittedly widespread) *feeling* that had "the SEC had discovered beyond a reasonable doubt that this was a scam/pump & dump/ or whatever . . . ."
Can you connect the dots for me?
Are peeps saying that if the SEC has questions, it should immediately revoke a stock, without a hearing?
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell Posts: 4190 | From: Rhode Island | Registered: Mar 2006
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posted
I'm just saying...Mike requested it because the SEC was the reason that they didn't have any MM's in the first place.
quote:Originally posted by T e x: "Why else would they absolutely deny the request by Mike to stay halted until we hear from the judge and sign some MM's?!?! "
First, I suspect you intend the word suspended, yes?
Second, what regs allow an officer/a company to "request" further suspension?
-------------------- "If you go the Extra Mile there will be no Traffic Jams".
St. Matthew Posts: 885 | From: Dallas, Texas | Registered: Sep 2006
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posted
Rufus said that his take on Tut is that he (meaning Rufus) would listen to 99.9% of what Tut says.
Posts: 603 | From: Plymouth, MN | Registered: Jun 2004
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Join Date: Aug 2006 Posts: 427 Shareholders I want to really stress something very important here in approximately two hours, and I hope I have all of your attention. First of all do not think this is a negative post because I still believe we will make it and I have no doubt about that . As you can tell I am furious that the SEC allowed this to happen today and before I post later I want to stress right now that this was obvious market manipulation by the market makers and allowed to happen, because believe me they were watching this market. Very importantly this stock should have been legally re-instated on the Bulletin Board after the suspension and not on the grey sheets after finding no evidence that the bonds are not real.
Before I post more on this it is time that everyone reading this contact all the same people and voice your complaints loud and clear why the SEC allowed this to happen after it turns out that the company was cleared for trading because of their lack of evidence that the bonds are not real. I am urging everyone to call, fax, email, every department of the SEC, your Congressman, Senators and demand an immediate investigation into this abuse of power at the expense of the American people. This has to be a full blown campaign by all shareholders right now.
I repeat again do not take this as a negative because we will come out of this and win but we all have to take a very strong stance now. The voice of the American people has to be heard and listened to because this has gone on too far and for too long and it is robbing the American people. it is the "SEC's responsibility and duty to protect the American investors" and not let the financial power organizations get away with stealing your money. This is theft and fraud on a grand scale allowed to go on by the very organizations you as American citizens put in power by your votes.
DUDE!!!!
Your starting to make my AZZ TIRED!!!
all this post needed was a little Patriotic tune playen' in the backround....."AMERICA-AMERICA....GOD SHED HIS GRACE ON THEEEEEEE!!!!!"
GIVE ME A F-ING BREAK!!!!!!!!
SAY WHAT YOU KNOW...
say something .....NOT CRYPTIC!!!
and above allllll,,,,,
QUIT%!!!,,,, F-ing with the already, stressed out emotions of this Board!!!
You say chit like (forgive me if this is not a dead nutz quote) "I'll be back after the ......( show , interview, soccer game) WHATEVER!!!!!!
THEN NOTHING......
"America......America.......GOD SHED HIS GRACE ON THEEEEEEEEEE....ANND CRRRROWWWWWNN THY GOOOD........
posted
Rufus was asked about how he pays to live as he is out of a job and claims to not have any assets. Rufus responded "I have millions and millions of dollars from shorting CSHD"
posted
Rufus said he bought his horses through dispensary sales - paying about $400-$500 per horse.
Posts: 603 | From: Plymouth, MN | Registered: Jun 2004
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posted
MRR. No offense taken, I understood where your coming from.. I actually chuckled when I read your post It's ...From reading other posters here and on HSM, other regulars are wearing thin on tut-eister. What I find interesting is that he is posting more frequently each day ...... perhaps one day "Tut" will tell all of us who he/she is.........
and another from the FWIW department on HSM.....this poster seems to be listening to SPR tonight where RPH is supposed to be talking once more, and thus posts --------
Today, 11:51 PM #4035 BullRunner HSM Enthusiast [BullRunner's Avatar] Join Date: Aug 2006 Location: Paoli, PA Posts: 808 Rufus says we should listen to 99.5% of what Tut says.
-------------------- "No nation was ever ruined by trade." Benjamin Franklin Posts: 533 | From: Dooville, Indiana | Registered: Jul 2006
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posted
I should really be in the bed, but I'll post a little of the meat for you guys. Sorry it has taken me so long to get caught up, but yall were posting quite a lot there. I'll follow this up with more info tomorrow.
My main thing at the BBQ was meeting the company people and being able to gage them. As I said before, I was very impressed...especially with Mike.
Other than that, Mike is moving forward with the company. Rufus will be fighting with the SEC. Mike said something like "good cop, bad cop"...Rufus being the bad cop, and Mike being the good. Basically, Mike is going to cooperate fully with the SEC and move the company forward.
I talked with Mike about how the court went and he was pizzed that they did anything in court. His understanding was that nothing was going to happen. He said that if he knew the SEC attorneys were going to be there, he would have been there himself. He was also pizzed about his attorney not representing him on the consent. It sounded like his attorney wasn't quite sure what he was hired for. Mike said he hired him to represent the co. and the attorney felt like he was there for the audit. Either way, I think they have that worked out. Mike indeed has an attorney and is looking at hiring another firm as well.
The 6 for 1 deal is still a go unless the SEC comes in and says he can't do it. At this time, I'm not sure if they know when they will actually give out the shares though.
Mike said that Rufus is great at documenting everything and that is going to make this thing work. He had a 6 gig drive loaded with info that is going to prove us legit. It sounded like that info would be going to our attorney ASAP.
Mike also said he's working with 2 or 3 MM's to get this thing going. He said once there's one MM, the other will have to follow suit.
From what I gather, Sabra is indeed out. Lots of speculation that she was the bad egg. Sounded like she was trying to through Rufus under the bus and maybe take over the company herself.
I'll add more tomorrow. There's some funny/interesting stuff from the court.
Posts: 1028 | From: Georgia | Registered: Jul 2005
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...From reading other posters here and on HSM, other regulars are wearing thin on tut-eister. What I find interesting is that he is posting more frequently each day ...... perhaps one day "Tut" will tell all of us who he/she is.........
