posted
THis is all Jenna's fault. I don't go to HSM that often for CSHD but because of her recent timeout, I thought I'd check it out. I found an interesting post and repsonded. I would like to share it with the board.
Quote: Originally Posted by Padre The Accounting Equation is the basis for understanding the double entry system of accounting. The equation stipulates that debits must at all times equal credits.
This is expressed in terms of the equation Assets = liability + Owner's Equity.
To the left of the equals sign are the Assets or resources that a business entity possesses to assist in achieving its goals Because they are represented on the left-hand side of the equals sign, these assets are destined to have normal debit balances. Stated differently, all accounts which by their nature are included on the left-hand side of the accounting equation have debit normal balances.
On the right hand-side of the equation there are account which are generally referred to as equity accounts. The term represents the ownership of those assets. These forms of ownership are shared by those who assisted in the acquisition of those assets; namely the creditors outside of the entity who have extended credit in support of acquiring assets, and those owners who have invested capital for that same reason. The creditors enjoy a special preference over the owners in their claims toward being reimbursed. What is owed them is referred to as an obligation for the business, or "Liabilities."Owner's Equity; those who are responsible for sharing the benefits and losses experienced by the entity over its life span. All of the accounts which are included on this side of the equals sign have credit normal balances. This satisfies the conditions of the equation which says that all debits must equal all credits. Stated differently, the total of the assets must equal the total of those who own them.
Assets = Liabilities + Owner's Equity
A bond (that we own/control) should be Asset and owner's Equity so equation balances.
Hypothicated bond would be Asset (cash) and Liability (debt) so equation balances
After using Asset (cash) to Fund JV
Funded JV = Liability (debt) and accounts receivable (future income) so equation balances.
The above is from my 1st year accounting class.
Given the information by Poetter there should be no doubt that the bonds are real because they are on Euroclear.
But ..... what happens if the SEC uses this equation:
Bonds (assets) = Liability (gotta pay it back) + Owner's Equity ( Zero according to them)
If they are using the above equation would hypothicating the bond then constitute fraud?
bond = liability Bond + cash = liability + cash owed
I wish momandcpa or anyone with more accounting experience than I to weigh in on this.
My response:
This exactly what I believe the problem is. CSHD has claimed assets but once hypothecated a debt is owed and the amount of the assests are less than what has been stated. RPH has stated that the SEC would consider it fraud if the bonds were hypothacated. In essence, I guess it's a matter of intrepretation because once ehypothacated then payments are due to those that placed the bonds with CSHD and they will impact the bottom line. I am not an accountant but logic and common sense tells me that according to the 8k's debts are due upon hypothecation. WOW, does it all come down to which accounting system is being used and mere technicalities?
Since reading the funding agreements of the bonds that were obtained, I have felt that at some point in time the company would need to show the debt that was incurred by those agreements. Go back and read the Global Funding agreement and maybe just maybe that is the fly in the oinment and not the bonds themselves.
The above statement is speculation only and does not represent what has or will truly transpire.
GLTA Wally __________________ I am not psychic and have no ability whatsoever in ESP, My Crystal Ball was stolen before I found the wild world of pennies, I lent my tarot cards to a friend that skipped town(I didn't see that comming) and my dog ate all my tea leaves so take all of this with more than a grain of salt.
posted
Times are slow for information and upward movement so I will break one of my rules and post about a stock that I think has very low risk at this time and very high potential. This is just something that maybe we can make a few dollars on while waiting for something to happen with CSHD.
It's not a sure thign nothing is. GMSC. I don't have a position but that is becasue I haven't had available funds and hopefully will have in the next few days. If you can get in between .001 to .0015 you should do fine, I have made money on this a couple of times and it seems ready to move again soon. Do your own DD before taking a position but I do think it's an easy 50%+ play in the the short term.
Stock Patrol Suspected as a Front in a Short-selling Scam
(2007-01-23) AS
There is a company out there called StockPatrol.com which publishes a website that many investors rely on. StockPatrol acts as watchdog warning investors of allegedly bad publicly traded companies. But things may not be what they seem.
Analysts are looking at a correlation between StockPatrol’s negative reporting and waves of short-selling. What they find interesting is that there seems to be a certain pattern.
This is how the short-selling scam is suspected to work.
Selling often starts shortly before StockPatrol puts out its negative report – while a company’s stock price is still high. This brings an amount of money into the sellers’ accounts.
When StockPatrol releases its negative report, it initiates a downward momentum. The short-sellers continue to sell, reinforcing the downward trend and in the process bring in additional money.
As the panicked shareholders of the affected company try to get out of the declining stock, the stock tumbles, at which point the short-sellers quietly start buying the necessary amount of stock back to cover their short positions at a fraction of their original price.
The difference they keep as their profit. Obviously, the affected company, its management and shareholders don’t benefit from this. They are the losers.
The money the short-sellers can make on the backs of small company investors must be significant, considering that StockPatrol deals in low priced stocks where even small changes in price represent a large percentage change. Further, StockPatrol has to be aware that through its negative reporting it is actually sabotaging small company prospects, thus removing risk from shorting those companies.
An ingenious modus operandi – assured money making mechanism that is virtually risk-less.
Operating out of his multi-million dollar five bedroom apartment in midtown Manhattan with one bedroom dedicated to the StockPatrol, its sole operator, Mr. Hartley Bernstein receives no compensation for his work and dedicates his time and own money purely for the social cause of being a self-appointed watchdog of the securities markets.
StockPatrol states that its mission is to inquire, investigate, research and report on interesting, odd and unusual developments in the securities markets.
Upon closer look however, StockPatrol’s reports amount to clever derogatory innuendoes by Mr. Bernstein. He gives them a particular kind of spin. But these aren’t simply inconsequential private opinions. Mr. Bernstein has built a following and, when he makes an innuendo to bash a company, he knows it is bound to produce a negative market response. StockPatrol does a lot of reporting. But it appears that Mr. Bernstein has never bothered to substantiate his innuendoes and has never contacted the firms he attacks. In fact, when one brave company challenged him for a public debate he simply disappeared.
Obviously, Mr. Bernstein wouldn’t be shorting himself. Shorting would have to be done through untraceable off-shore accounts and by remote parties without a direct connection to him.
But there must be one connection. Short-sellers somehow happen to know ahead of time on which companies StockPatrol is going to issue its reports. Is it a mere coincidence, or is there a friendly leak at StockPatrol?
Ingenious as it may be, shorting small cap stocks is not only wrong it is actually illegal, especially on a downward trend!
As it turns out, Mr. Bernstein actually has a background in securities scheming, deceit and lying – even perjuring himself in Court. He is no stranger to law breaking.
Mr. Hartley Bernstein is a disbarred New York attorney. He is also a convicted felon. Mr. Bernstein was found guilty of stock fraud and perjury at the U.S. District Court in New York. If you want to spend $25 you can download the indictment and conviction details.
As in organized crime cases, in this case the government used Mr. Bernstein as one of the key figures to convict the others. In exchange for his testimony against his buddies in crime, Mr. Bernstein bargained for himself a lighter sentence.
Mr. Bernstein apparently claims that he is reformed now. Notwithstanding, his background must be considered. According to a New York Times article a few years ago on Mr. Bernstein’s past, some regulators are skeptical and believe that recidivism with this type of crime is standard.
It does look odd that Mr. Bernstein is running StockPatrol – it’s like having a convicted bank robber manage a bank or having and ex child molester work in an elementary school.
Mr. Bernstein has the audacity to make up unsubstantiated innuendoes giving them his typical spin that portrays business people building companies as being somehow crooked. In reality, the crooks by enlarge come from the securities industry victimizing companies for their ends.
At a minimum, Mr. Bernstein, as well as the regulators who permit him to go on, must realize that they are responsible for effectively depressing the stock of the small companies that Mr. Bernstein denigrates through his innuendo reporting.
Don’t these small firms deserve government protection against such attacks by a convicted felon?
While there inevitably must be bad apples among small cap companies, as there are among large companies, it does not appear that the majority of the firms that Mr. Bernstein attacks have done anything wrong.
If there is any wrongdoing by the companies that Mr. Bernstein has been allowed to slander, then regulators should charge those companies. But that is not the case.
A question has to be asked, are regulators looking the other way when it comes to wrongdoing by Mr. Bernstein? If so, what is the rationale? The word on the Street is that certain regulators value Mr. Bernstein and have allowed him to carry on with his innuendo reporting “for prophylactic reasons” to keep small companies in check, so to speak.
If there is truth to this, this would bring into question the regulators’ ethics and wisdom.
What is happening is that Mr. Bernstein, acting as a quasi-governmental representative, is harming legitimate small business, undermining capital formation at the grassroots level and affecting the integrity of the small cap market. He should be investigated.
Understandably, for the regulators securing actionable evidence against someone skillful like Mr. Bernstein may not be so easy the second time around and he may represent an embarrassment. There may be however grounds for civil action by the affected companies.
Investors and executives of affected companies have been wondering for some time now whether Mr. Bernstein is just an overzealous man who acts for no other reason but to selflessly protect the investing public’s interests, or if there is a more practical side to this – Whether there is basis to suspicions that StockPatrol and its related outlets (Stock Watchdog, Radar’s Doghouse, Stock or Schlock, The Radar Screen, Buyer Be Weary, Know Your Broker, Regulations on Patrol) are a front for one of the biggest short-selling scams in the small cap market.
What is even more disconcerting is that everybody is afraid to talk about Mr. Bernstein out of fear of retaliation. Even news reporters are shy to explore legitimate concerns regarding Mr. Bernstein.
Provided via: http://www.i-newswire.com If you have questions regarding information in these press release contact the company listed below. I-Newswire.com is a press release service and not the author of this press release. The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies / PR Agencies submit their press releases once per week/month or quarter, make sure check the official company website for accurate release dates as our site displays the I-Newswire.com distribution date only. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information.
-------------------- "If you go the Extra Mile there will be no Traffic Jams".
Stock Patrol Suspected as a Front in a Short-selling Scam
(2007-01-23) AS
There is a company out there called StockPatrol.com which publishes a website that many investors rely on. StockPatrol acts as watchdog warning investors of allegedly bad publicly traded companies. But things may not be what they seem.
Analysts are looking at a correlation between StockPatrol’s negative reporting and waves of short-selling. What they find interesting is that there seems to be a certain pattern.
This is how the short-selling scam is suspected to work.
Selling often starts shortly before StockPatrol puts out its negative report – while a company’s stock price is still high. This brings an amount of money into the sellers’ accounts.
When StockPatrol releases its negative report, it initiates a downward momentum. The short-sellers continue to sell, reinforcing the downward trend and in the process bring in additional money.
As the panicked shareholders of the affected company try to get out of the declining stock, the stock tumbles, at which point the short-sellers quietly start buying the necessary amount of stock back to cover their short positions at a fraction of their original price.
The difference they keep as their profit. Obviously, the affected company, its management and shareholders don’t benefit from this. They are the losers.
The money the short-sellers can make on the backs of small company investors must be significant, considering that StockPatrol deals in low priced stocks where even small changes in price represent a large percentage change. Further, StockPatrol has to be aware that through its negative reporting it is actually sabotaging small company prospects, thus removing risk from shorting those companies.
An ingenious modus operandi – assured money making mechanism that is virtually risk-less.
Operating out of his multi-million dollar five bedroom apartment in midtown Manhattan with one bedroom dedicated to the StockPatrol, its sole operator, Mr. Hartley Bernstein receives no compensation for his work and dedicates his time and own money purely for the social cause of being a self-appointed watchdog of the securities markets.
StockPatrol states that its mission is to inquire, investigate, research and report on interesting, odd and unusual developments in the securities markets.
Upon closer look however, StockPatrol’s reports amount to clever derogatory innuendoes by Mr. Bernstein. He gives them a particular kind of spin. But these aren’t simply inconsequential private opinions. Mr. Bernstein has built a following and, when he makes an innuendo to bash a company, he knows it is bound to produce a negative market response. StockPatrol does a lot of reporting. But it appears that Mr. Bernstein has never bothered to substantiate his innuendoes and has never contacted the firms he attacks. In fact, when one brave company challenged him for a public debate he simply disappeared.
Obviously, Mr. Bernstein wouldn’t be shorting himself. Shorting would have to be done through untraceable off-shore accounts and by remote parties without a direct connection to him.
But there must be one connection. Short-sellers somehow happen to know ahead of time on which companies StockPatrol is going to issue its reports. Is it a mere coincidence, or is there a friendly leak at StockPatrol?
Ingenious as it may be, shorting small cap stocks is not only wrong it is actually illegal, especially on a downward trend!
As it turns out, Mr. Bernstein actually has a background in securities scheming, deceit and lying – even perjuring himself in Court. He is no stranger to law breaking.
Mr. Hartley Bernstein is a disbarred New York attorney. He is also a convicted felon. Mr. Bernstein was found guilty of stock fraud and perjury at the U.S. District Court in New York. If you want to spend $25 you can download the indictment and conviction details.
As in organized crime cases, in this case the government used Mr. Bernstein as one of the key figures to convict the others. In exchange for his testimony against his buddies in crime, Mr. Bernstein bargained for himself a lighter sentence.
Mr. Bernstein apparently claims that he is reformed now. Notwithstanding, his background must be considered. According to a New York Times article a few years ago on Mr. Bernstein’s past, some regulators are skeptical and believe that recidivism with this type of crime is standard.
It does look odd that Mr. Bernstein is running StockPatrol – it’s like having a convicted bank robber manage a bank or having and ex child molester work in an elementary school.
Mr. Bernstein has the audacity to make up unsubstantiated innuendoes giving them his typical spin that portrays business people building companies as being somehow crooked. In reality, the crooks by enlarge come from the securities industry victimizing companies for their ends.
At a minimum, Mr. Bernstein, as well as the regulators who permit him to go on, must realize that they are responsible for effectively depressing the stock of the small companies that Mr. Bernstein denigrates through his innuendo reporting.
Don’t these small firms deserve government protection against such attacks by a convicted felon?
While there inevitably must be bad apples among small cap companies, as there are among large companies, it does not appear that the majority of the firms that Mr. Bernstein attacks have done anything wrong.
If there is any wrongdoing by the companies that Mr. Bernstein has been allowed to slander, then regulators should charge those companies. But that is not the case.
A question has to be asked, are regulators looking the other way when it comes to wrongdoing by Mr. Bernstein? If so, what is the rationale? The word on the Street is that certain regulators value Mr. Bernstein and have allowed him to carry on with his innuendo reporting “for prophylactic reasons” to keep small companies in check, so to speak.
If there is truth to this, this would bring into question the regulators’ ethics and wisdom.
What is happening is that Mr. Bernstein, acting as a quasi-governmental representative, is harming legitimate small business, undermining capital formation at the grassroots level and affecting the integrity of the small cap market. He should be investigated.
Understandably, for the regulators securing actionable evidence against someone skillful like Mr. Bernstein may not be so easy the second time around and he may represent an embarrassment. There may be however grounds for civil action by the affected companies.
Investors and executives of affected companies have been wondering for some time now whether Mr. Bernstein is just an overzealous man who acts for no other reason but to selflessly protect the investing public’s interests, or if there is a more practical side to this – Whether there is basis to suspicions that StockPatrol and its related outlets (Stock Watchdog, Radar’s Doghouse, Stock or Schlock, The Radar Screen, Buyer Be Weary, Know Your Broker, Regulations on Patrol) are a front for one of the biggest short-selling scams in the small cap market.
What is even more disconcerting is that everybody is afraid to talk about Mr. Bernstein out of fear of retaliation. Even news reporters are shy to explore legitimate concerns regarding Mr. Bernstein.
Provided via: http://www.i-newswire.com If you have questions regarding information in these press release contact the company listed below. I-Newswire.com is a press release service and not the author of this press release. The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies / PR Agencies submit their press releases once per week/month or quarter, make sure check the official company website for accurate release dates as our site displays the I-Newswire.com distribution date only. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information.
quote:Originally posted by thedoctor: This is getting sad. No one around here all day. Good night every one.
Doc,
It's matter of nothing really happening with the trading of this during the day. I spend my time for the most part with other stocks I'm invested in that at least have a chance to make a move during the day and then check in here at night to see if anything new is happening.
Have to try to make money somewhere until something of consequence happens here.
quote:Originally posted by thedoctor: This is getting sad. No one around here all day. Good night every one.
No news is good news. Right? I'm curious to see what comes out of JA visit to Germany. I would think that a PR would come out shortly after he returns to explain the "successes" of the trip.
IP: Logged |
posted
Taxback...did you ever find any info on that law firm?
I looked into Manny Nedwick yesterday a bit and only found a couple of SEC litigation pages where Emanuel B Nedwick was listed as a defendant. He was working for American Growth Capital Corp. back in 97.
quote:Originally posted by 10of13: A few trades at .15... Very nice to see...
I'm noticing that too 10. It is interesting to see the PPS start to move up. Could just be people trying to get in prior to something comming ouot on Pacer. You the speculators.
quote:Originally posted by Jenna: Well, that was short lived...back to .12
jenna lol stay away from here.....ull be much happier
Hey, I stayed away for 3 whole days- that's really good for me....I'm in 3 other plays right now....so I'm breaking the addiction....give me SOME credit....
-------------------- ..just remember....Family is EVERYTHING!!
IP: Logged |
now we just need to ge tthis moved back to micro penny board..i spend a lot of time on hotstocks and its a constant reminder and leaves a bad taste in my mouth everytime i see it.....i knwo it sprobably just me, but it drives me crazy..i wish there were a way to block boards
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