posted
I don't personally see how a company could have stock that starts trading on the berlin exchange. I think it should take several checks and balances to get opened up on any market.
But....then I read this article. Kind of interesting. Has anyone ever seen the stock actually being quoted on the Berlin Exch? What was the volume?
The article actually mentions some OTC stocks that were unable to delist. Its an old article but still eye opening.
The Berlin Connection: 250 Companies Out (And Counting) by Mark Faulk It's been over four months since it was first reported that over a hundred US companies had been listed on the Berlin-Bremen Stock Exchange without their permission. That number eventually grew to over 1,000 that were listed by one brokerage firm alone, Berliner Freiverkehr. Although both Berliner Freiverkehr and the Berlin-Bremen Stock Exchange have maintained their innocence throughout the entire uproar, one company after another began the process to have their stocks de-listed from the exchange, claiming that their stocks were being manipulated through the foreign exchange utilizing the arbitrage exemption, a loophole in the NASD rules that critics say allows "naked short selling" though foreign exchanges.
Regardless of the true intentions of Berliner Freiverkehr in listing these stocks on the Berlin-Bremen Exchange, the mere fact that the vast majority of the listings occurred at the same time that a similar loophole was closed in Canada was enough of a red flag to send hundreds of American companies scurrying for the exits. In fact, The Faulking Truth recommended that very thing in "A Call To Arms: Firing the First Shots" http://www.faulkingtruth.com/Articles/Commentary/1007.html , when we provided a link to the list of the 1,000 companies that Berliner Freiverkehr had listed on the Berlin-Bremen Stock Exchange.
Over 250 Companies De-Listed (and Counting)
As of August 25, over 250 US companies that had been listed by Berliner Freiverkehr had succeeded in having their shares de-listed from the Berlin- Bremen Stock Exchange. Actually, Berliner Freiverkehr CEO Holger Timm has on more than one occasion attempted to correct the American media's use of the word "de-listing". According to Timm, "Trading foreign shares on the third-tier market segment at the Berlin or any other German exchange is not being regarded as a 'listing', therefore it is incorrect to use the term 'delisting' if a company wants to cease trading." Oddly, in the letter that Berliner Freiverkehr was sending out to companies that requested de-listing, Timm himself says "After considering the above aspects, should you still prefer your stocks not to be traded in Germany we will respect your wish and apply for delisting on the Berlin stock exchange", and uses the phrase "secondary listings on the Berlin stock exchange" when referring to US companies seeking de-listing. So are the US companies "listed" or not? It's just one of the many contradictions that remain to be sorted out in this complicated and confusing situation.
In response to inquiries from The Faulking Truth, Timm said last Wednesday that "we have been asked by 386 firms to cease trading, and by now 251 firms are no longer traded in Berlin. The remaining companies are still in the process to end it's trading or a cessation of trading is not possible because of one of the rules (of the Berlin-Bremen Stock Exchange)."
-------------------- Got CSHD? Its fun Posts: 766 | From: Washington, DC | Registered: Sep 2006
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quote:Originally posted by 10of13: 6digits.. I haven't called the TA since the new CEO PR'd that we were getting the 6:1...but when it was said before..back in October? The TA told me that they had heard talk of it...but that to their knowledge is wasn't yet authorized...what ever that meant...
im sure well get the 6 but not anytime soon...who cares...what are 6 shares good for if its gonna dilute the share count!! lets get the price high up first...then continue your whining for your shares..you all sound like little kids gimme gimme 6 i want six, give me 6, ive been waiting too long gimme gimme gimme...
quote:Originally posted by 10of13: 6digits.. I haven't called the TA since the new CEO PR'd that we were getting the 6:1...but when it was said before..back in October? The TA told me that they had heard talk of it...but that to their knowledge is wasn't yet authorized...what ever that meant...
im sure well get the 6 but not anytime soon...who cares...what are 6 shares good for if its gonna dilute the share count!! lets get the price high up first...then continue your whining for your shares..you all sound like little kids gimme gimme 6 i want six, give me 6, ive been waiting too long gimme gimme gimme...
Although I am not a proponent of bugging for my 6:1 I would rather get the shares while we are in limbo with the SEC and on the Greys.
Our PPS is stagnant and will remain until vindication or some compmany life changing event. I think the price would be far more stable if the 6:1 is done during this stale-mate.
So the mass dump-off post 6:1 has a chance to wait until the stock climbs back.
Just my 2 cents~
-------------------- Got CSHD? Its fun Posts: 766 | From: Washington, DC | Registered: Sep 2006
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posted
does anyone think it was "odd" that Tut's posts were deleted? SPR is talking about it...and I was wondering if SEC would have a little concern with that? I mean...when Tut posted it did seem to effect the PPS...Kinda curious...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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frank i already know u want the 6:1...your one of the people that discust me....your last statement was the worst, recieve the 6 shares "now"...that would kill us...dude crack is whack
Posts: 3086 | From: miami | Registered: Nov 2005
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quote:Originally posted by trade04: frank i already know u want the 6:1...your one of the people that discust me....your last statement was the worst, recieve the 6 shares "now"...that would kill us...dude crack is whack
If you are going to post an offensive put the sentences together 1st. Perhaps in MS Outlook (it has spell check). I think you are trying to say that the PPS would suffer more at .27 cents on the greys rather than the shares coming in at say 2.00 on the OTC (post vindication). Your opinion- which you are entitled. Neither are wrong or right.
My opinion on the share price being more stagnant on the grey markets disgusts you? Did you think I said your dogs ugly or what?
I didn't think it was that drastic. Take a pill and go to sleep or something.
-------------------- Got CSHD? Its fun Posts: 766 | From: Washington, DC | Registered: Sep 2006
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posted
I disagree...I think that it we get them when it is trading at a higher amount? that is when it will drop the pps the most...give them now and people will be more apt to hold IMO... And relax Trade...don't jump on me because I have an opinion that doesn't agree with yours... Just different views...
quote:Originally posted by trade04: frank i already know u want the 6:1...your one of the people that discust me....your last statement was the worst, recieve the 6 shares "now"...that would kill us...dude crack is whack
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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Jenna? the Berlin Exchange? Rufus made a big "fuss" over the shares trading there...he was stating that he was wondering who authorized them to trade...he claimed that he didn't. Why would he bring attention to that it was trading there if he was trying to "dump shares"? Doesn't seem it would be him...Was it Sabra? Mitch? Just speculating here..not saying it was or wasn't...
10 - I was NOT implying that Rufus started it at all....I was merely asking if anyone recalls what he said he was going to do about it & if he has done anything about it yet that's all? I think it's a good question.
If that was my company, (& I have owned a few businesses before so I know a little about running a company. As a matter of fact, one was a corporation). I would be ALL over trying to get that stopped especially knowing it has to be airshares, & I would be working diligently trying to find out WHO put it on the exchange.....then I'd procecute who ever it was ......
I also would like to do some DD on the Berlin exchange to see how "easy" or "hard" it is to do....because if it's "easy" to do that means anyone could have done it....perhaps Timothy Miles or someone of the like, if it's hard to do that would bring up some red flags....then I would wonder if it was someone who has been employed by Conversion....That would be interesting to know....
So I will ask again....seeing that I don't believe I have heard every single interview with Rufus & some I did not hear in their entirety, I ask, does anybody recall if Rufus stated what his plan was to do about the Berlin Exchange fiasco?
-------------------- ..just remember....Family is EVERYTHING!! Posts: 3944 | From: Rochester, NY | Registered: Sep 2006
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quote:Originally posted by 10of13: does anyone think it was "odd" that Tut's posts were deleted? SPR is talking about it...and I was wondering if SEC would have a little concern with that? I mean...when Tut posted it did seem to effect the PPS...Kinda curious...
I wouldn't be surprised if the SEC "suggested" it....
-------------------- ..just remember....Family is EVERYTHING!! Posts: 3944 | From: Rochester, NY | Registered: Sep 2006
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posted
Jenna ~ Rufas and Ben both knew about the Berlin Exchange listing the day it happened... (They said on SPR with the naked Shorting they were looking for it.) They requested it delisted immediately, and I checked it for several weeks after and the volume was zero.
It may have actually traded for a day. I have not checked it since then... who knows maybe somone relisted CSHD. I do know that on SPR Rufas said that he and Ben did not give permission for the listing, and it was a major sign of illegal short selling.
quote:Originally posted by TaxBack04: Jenna ~ Rufas and Ben both knew about the Berlin Exchange listing the day it happened... (They said on SPR with the naked Shorting they were looking for it.) They requested it delisted immediately, and I checked it for several weeks after and the volume was zero.
It may have actually traded for a day. I have not checked it since then... who knows maybe somone relisted CSHD. I do know that on SPR Rufas said that he and Ben did not give permission for the listing, and it was a major sign of illegal short selling.
FWIW
Yes, I remember them talking about it but I didn't understand it at the time & only caught bits of it... So, the volume was -0- a few days after that- good to know - but I thought someone said that they noticed a large amount traded just as Mike A. left I believe it was either 41,000 or something...
Sounds like the Berlin Exchange is the perfect set-up for an ignored crime - Naked Short Selling!!! BOOOOO...Yuck!!!!
-------------------- ..just remember....Family is EVERYTHING!! Posts: 3944 | From: Rochester, NY | Registered: Sep 2006
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quote:Originally posted by trade04: frank i already know u want the 6:1...your one of the people that discust me....your last statement was the worst, recieve the 6 shares "now"...that would kill us...dude crack is whack
If you are going to post an offensive put the sentences together 1st. Perhaps in MS Outlook (it has spell check). I think you are trying to say that the PPS would suffer more at .27 cents on the greys rather than the shares coming in at say 2.00 on the OTC (post vindication). Your opinion- which you are entitled. Neither are wrong or right.
My opinion on the share price being more stagnant on the grey markets disgusts you? Did you think I said your dogs ugly or what?
I didn't think it was that drastic. Take a pill and go to sleep or something.
if everyone gets them now...when cshd opens up at 2 or wherever it will there willa huge sell off...ratio should be given when the stock is at or above 15...that way there is strong confidence in the company and the stock price could shoot for 54 or w/e rufus babbled about
prs all the way up to 15 (give shares THEN) THAT would incline people to hold their shares! like rufus said long ago when he was actually a great CEO...that the pr machine would be up and running...steady pr stream of speculative business transaction prs would do wonders..trust me lol
Posts: 3086 | From: miami | Registered: Nov 2005
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quote:Originally posted by trade04: frank i already know u want the 6:1...your one of the people that discust me....your last statement was the worst, recieve the 6 shares "now"...that would kill us...dude crack is whack
If you are going to post an offensive put the sentences together 1st. Perhaps in MS Outlook (it has spell check). I think you are trying to say that the PPS would suffer more at .27 cents on the greys rather than the shares coming in at say 2.00 on the OTC (post vindication). Your opinion- which you are entitled. Neither are wrong or right.
My opinion on the share price being more stagnant on the grey markets disgusts you? Did you think I said your dogs ugly or what?
I didn't think it was that drastic. Take a pill and go to sleep or something.
if everyone gets them now...when cshd opens up at 2 or wherever it will there willa huge sell off...ratio should be given when the stock is at or above 15...that way there is strong confidence in the company and the stock price could shoot for 54 or w/e rufus babbled about
prs all the way up to 15 (give shares THEN) THAT would incline people to hold their shares! like rufus said long ago when he was actually a great CEO...that the pr machine would be up and running...steady pr stream of speculative business transaction prs would do wonders..trust me lol
You think the majority is going to hold if this thing hits 15.00???????????????????
Thats over a 1.5 million for some of us! After this roller coaster you are going to see a lot more selling at 15.00 than you think!
Since the majority of the folks in this stock are in it for 7-15.00 who the heck is going to sell it at .25 cents (1.75pps roughly with the extra shares)? A lot less than the ones selling when it hits 15.00.
Personally I think we have many more issues at hand than the 6:1. My weighing in on this topic is merely to state my opinion IF the shares are to be issues.
-------------------- Got CSHD? Its fun Posts: 766 | From: Washington, DC | Registered: Sep 2006
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posted
it wont matter bro! if its at 15 its better PERIOD. why u ask? because by that time youll have BIG FISH market movers and shakers working it....u think this will be a poor mans stock for ever? no way there will me multi milionairs buying up this gem...theyll be glad to take your shares at 15..theyll be laughing at you...
Posts: 3086 | From: miami | Registered: Nov 2005
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posted
What do you think the bond owners think of this entire saga?
If I had 500mil in play (I would have said billion but I hadn't heard that billion dollar bond mentioned in awhile) and the company I had it in was being taken over by shareholders and the stock was currently sitting on the greys pending default jugement I would probably be pretty NERVOUS.
Makes you think- this is part of something bigger going on behind the scenes? A bigger play would indeed explain a lot of the craziness we have been seeing unfold here. Lots of speculation I have been seeing on Paltalk and some other stock rooms I browse regarding this bigger play.
Either way- lets get something rolling. Watching paint dry is getting old and boring!
-------------------- Got CSHD? Its fun Posts: 766 | From: Washington, DC | Registered: Sep 2006
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quote:Originally posted by Kevin Bailey: No one here had "confirmed" anything. It seemed that a lot of people were simply speculating that you were Porterfield, and you were neither confirming nor denying it. That's why I asked if you were the same person.
quote:Originally posted by portman: Are you all seriously still questioning this after so many have confirmed it?
I thought this was settled law already. I don't read everything here because there is just not enough time.
Just be patient enough to give me some time to get a few items worked out. There will be much more I can share about the SHC next week.
Beyond this please do not expect me to talk about the SHC here. I will ignore it mostly. The best route of communication for me is the site where everyone can see it.
quote:Originally posted by 66inxs: portman is it you that is the head of the shareholder's committee?
Kevin, I took Port's answer as response to the preceding question, re-opening the issue of whether the motion for default has been withdrawn. He seems to think so, to the the extent that it's common knowledge.
I disagree; however, I agree with the idea that effective counsel could make it go away.
Should be public knowledge by tomorrow afternoon, Tuesday latest, though...
Company Requests Delisting After Being Shorted on Foreign Exchange Dallas, TX (MARKET WIRE) – 3/20/06 -- (OTCBB: RGMI) - RG America, Inc. (“RGA”), a Dallas based Insurance Restoration Company specializing in recovery, remediation, roofing and re-construction of insurance losses, announced today that it has succeeded in having its stock removed from trading on the Berlin Bremen Stock Exchange. RGA never authorized the trading of its securities on the Berlin Exchange, where its shares were being sold-short by unknown sources. The Berlin Exchange recently suspended trading of RGMI, at the request of the Company. “We first noticed the short-selling of our stock in the height of the 2005 Hurricane Season when we began investigating a very sudden and sharp decline in our stock price. After contacting Peter Hirshfield of the New York based firm, Hirshfield Law, it became clear that RGA had become another “stockgate” target. Mr. Hirshfield successfully put a halt to any short-selling of our stock by accomplishing the delisting on the Berlin Exchange,” commented Traci Brown, General Counsel for RGA. “We are relieved to have this settled so we can continue moving forward. This year has been extremely productive for RGA with large growth in contracts and revenues, and we look forward to keeping up this momentum.” RG America continues to trade under the symbol “RGMI” in the United States on the NASDAQ (OTCBB). Investors interested in obtaining shares of RG America should purchase their shares only from authorized broker-dealers who will execute trades on the OTCBB and not on any foreign exchanges.
-------------------- Got CSHD? Its fun Posts: 766 | From: Washington, DC | Registered: Sep 2006
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STOCKGATE TODAY An online newspaper reporting the issues of Securities Fraud
SHO me the Certificates say Overstock Insiders John and Dr. Patrick Byrne October 11, 2005 David Patch
In late June 2004 the SEC passed new regulations to address the abusive trading practices of naked shorting. The new law, dubbed Regulation SHO, intended to force the mandatory close out of all Fails to Deliver (FTD) on the markets most abused stocks. The new law going into affect January 5, 2005
Under the guidelines of Regulation SHO, any stock listing with greater than 0.5% of the shares outstanding being reported as a FTD would be listed as a threshold security . That list of companies that qualify would then be published daily by the respective markets on their web sites. Once on the list, FTD that occurred prior to the company being listed would be grandfathered from mandatory close out provisions but, all FTD that occurred after a company was listed would required an immediate buy-in after 13 days.
Under the SEC rules, Wall Street members that have created a FTD on a security that is a threshold security would be prohibited from selling future securities until that fail is cleaned up or unless they can guarantee 3-day settlement on the future trade. For Market Makers (MM), the law requires the MM to give up the book on the stock as they could no longer legally make a market in the stock as they would be prohibited from bona-fide market making from the short side.
So how well is SHO being regulated? Dr. Patrick Byrne, CEO of Overstock.com and his father and Board Member John Byrne have proof regulators and the Industry are once again ignoring responsibility.
On April 22, 2005 Overstock.com was re-listed on the threshold list after being removed for a period of only 2 weeks. Overstock.com was first listed on the threshold list on January 27, 2005.
Between August 9 and August 15, 2005 Dr. Patrick Byrne bought a total of 50,000 shares of Overstock at a cost of slightly more than $2 Million. Under the guidelines of SHO, these shares must settle by September 1, 2005 or face mandatory buy-ins. What Dr. Byrne discovered during his frequent correspondence with his broker-dealer was that these did not settle on September 1, 2005 as required.
Recent correspondence between Dr. Byrne and his Broker-Dealer has confirmed that the shares actually settled and were transferred from seller to Dr. Byrne s account on October 7, 2005. The delay between purchase and settlement provided the seller with profitable leverage as the stock s market value declined nearly $10/share for a net profit of $500,000. That is the good news. Dr. Byrne lost only $500,000 on paper to an illegal seller.
On August 29 and 30 Overstock Board Member John Byrne purchased a total of 199,900 shares of Overstock.com in the open market at a cost of over $8 Million. John s purchases representing nearly 40% of the total trading volume for those 2 trade days.
Like Dr. Byrne, John has also been tracking the delivery of these shares with his Broker-Dealer and like Dr. Byrne the transaction never occurred. In fact, it has still not yet occurred even though the mandatory buy-in date on this transaction was September 20, 2005. At this time John Byrne is down over $1 Million in stock purchase value on shares he has never received but paid for nearly 6 weeks ago. If John Byrne is down $1 Million, the person or firm that sold him the shares has profited that same $1 Million. Seller(s) profiting through the sale of non-existent [counterfeit] shares.
In the past, regulators have informed investors that they are not at a loss due to the fact that, even though the shares have not yet been transferred, you always have the right to sell your shares. The fact that their investment never sees an upside due to the manipulation is irrelevant. This does not hold true for investors like Dr. Byrne and John Byrne however as they have restrictions on selling due to their insider status. For these investors, the manipulation guarantees a loss without protection.
So where are the regulators? Where are the guys required to monitor these situations and protect the investors?
Many believe they are simply allowing Wall Street to profit at our expense. Regulators created to protect the Investors are in fact protecting the illegal acts of the Wealthy Institutions and Hedge Funds that run Wall Street and fund Congress.
In a simple sting operation orchestrated by Dr. Byrne and father John they have proven that the illegal trading continues and proven that the damages go far beyond the micro-cap companies. Dr. Byrne and his father have proven that Wall Street will seek out to destroy any company for the preferential treatment of selling clients. Between these two investors, over $10 Million of illegal securities were sold and the seller(s) profited over $1.5 Million using the leverage of naked shorting to drive stock valuations down.
Who were the seller(s) and why didn t the Byrne s own Broker-Dealer act to protect their client? Why was nobody looking out for the paying customer?
The laws on buy-ins are clear. If a FTD occurs in a threshold security that FTD must have an immediate buy-in with cost not being a factor. The SEC has admitted in the past that they are monitoring SHO yet it appears they are monitoring with their eyes closed.
How easy is it to monitor?
In the day of electronic records, the Depository Trust (DTCC) maintains a record of exactly how long a FTD is on record and what firm is delinquent on delivery. For Overstock.com, they have been on the threshold list for 120 consecutive trade days. Regulators need only review the DTCC records and review fails that are greater than 13 business days [allowable FTD period]and less than 120 business days [grandfather clause cut-in]. Every one of those fails between these time slots are in mandatory buy-in provisions. None should ever exceed 18 by law.
The father and son team have proven that SHO is not being monitored and that our investments continue to be manipulated. Overstock.com alone has nearly 19 Million shares outstanding. Those who own these shares have suffered damages of greater than $10/share as the stock continues to trade down off shares that do not exist. The total damages to Overstock investors thus exceeds $190 million not accounting for the additional shares owned above the shares registered and outstanding. This is money taken directly out of the economy.
How many others are out there like this? If you simply look at the published threshold list there are hundreds of companies and tens of millions of investors being manipulated and abused.
It is time for Congress to step in and address this issue. Companies like Overstock.com have become entrenched on the threshold security list for hundreds of days while Hedge Funds, Institutions, and criminal elements abuse our markets and abuse our countries economic future.
-------------------- Got CSHD? Its fun Posts: 766 | From: Washington, DC | Registered: Sep 2006
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From what I'm hearing about Rufus on SPR...he is basically saying CSHD can't do their business without him and Ben. How exactly can this be? I haven't seen the contracts for the bonds, but I assume they are with CSHD and not Rufus personally.
When Mike came back as CEO, he told me he had drawn on a bond. I guess that didn't actually happen. A thought I had was that Mike was having trouble drawing on the bond and put Rufus back in as CEO because he could do it. Why would Rufus be able to draw on a bond and not the current CEO?
Posts: 1028 | From: Georgia | Registered: Jul 2005
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