posted
Any suggestion how to get out of it? Because I'm stuck with all of my money on that stock. I shouldn't never buy it in the first place.. ohh well i didn't know coz im new here.
posted
Romeo, really the only way you'll be able to sell is probably to hope for a reverse split. At least that way you'll probably be able to sell for a huge loss instead of not being able to sell at all. Basically, you're screwed. I hope you're not serious that you had all of your money in this.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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Say you bought 100million shares at .0001. You have $10,000 worth.
Right now you have 100million shares "worth" .0001, but in reality, no one is buying them.
If they do a reverse split it would decrease your number of shares while supposedly increasing the share price by the inverse ratio.
So say they do a 1:1000 reverse split. That means that instead of having 100million shares, you'd have 100,000 shares, and the price SHOULD adjust from .0001 to .10 per share. So you SHOULD still have the same $10,000 worth that you do right now. Problem is, everyeone else who owns this stock is in the same position as you, and if they do a reverse split everyone will most likely run for the exits, dropping the price rapidly.
And that all depends on the company making the decision to do a everse split, which they may not.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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quote:Originally posted by PCola77: Reverse aplit means this:
Say you bought 100million shares at .0001. You have $10,000 worth.
Right now you have 100million shares "worth" .0001, but in reality, no one is buying them.
If they do a reverse split it would decrease your number of shares while supposedly increasing the share price by the inverse ratio.
So say they do a 1:1000 reverse split. That means that instead of having 100million shares, you'd have 100,000 shares, and the price SHOULD adjust from .0001 to .10 per share. So you SHOULD still have the same $10,000 worth that you do right now. Problem is, everyeone else who owns this stock is in the same position as you, and if they do a reverse split everyone will most likely run for the exits, dropping the price rapidly.
And that all depends on the company making the decision to do a everse split, which they may not.
That was really helpful .. thanx man .. i hope the company should do something about it. thanks again
posted
We need some good news to get some new buyers...Even if they buy at .0001 and we sell at .0001 since we have twice as many shares now I would hope we could sell some of our shares??
Posts: 2498 | Registered: Mar 2006
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posted
Anyone have any news? I haven't seen anything lately.
I'm trying to sell some shares at .0001 and can't. WTF I don't really want to but I need some cash for AURC.
Posts: 2498 | Registered: Mar 2006
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I have not. I changed my order from all or nothing and still can't get it to move. Today I reduced the quantity to sell by 1/2 and still can't get it to sell.
I am in no way selling all of it or even a majority of it but I would like some free cash to pursue AURC.
Any ideas? Anyone?
Posts: 2498 | Registered: Mar 2006
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posted
I'll try to put this as nicely as possible. But basically, just like I thought would happen. the company completely screwed you. They either knew it and didn't care, or are really dumb. Because while the proce can't drop below .0001, techinically doubling the value of your shares, NO ONE is willing to pay .0001, so now you can't sell at all, effectively costing you your entire investment.
Write it off an move on. If it ever runs, think of it as a bonus.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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The fact that it is still showing with volume and trades going through means it's not dead yet. There have been perios where the company was silent before dropping PR's to the public so maybe we just need to be a little more patient.
Yes, I said that...Be more patient.
Posts: 2498 | Registered: Mar 2006
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posted
haha, you have no choice but to be patient since you can't physically sell
True, there is volume, but I'm guessing people like you and me would be at the back of a LOOOOOOONG line of orders.
quote:Originally posted by Stockstar69: Strange but true? I hope not.
The fact that it is still showing with volume and trades going through means it's not dead yet. There have been perios where the company was silent before dropping PR's to the public so maybe we just need to be a little more patient.
Yes, I said that...Be more patient.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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quote:Originally posted by PCola77: haha, you have no choice but to be patient since you can't physically sell
True, there is volume, but I'm guessing people like you and me would be at the back of a LOOOOOOONG line of orders.
quote:Originally posted by Stockstar69: Strange but true? I hope not.
The fact that it is still showing with volume and trades going through means it's not dead yet. There have been perios where the company was silent before dropping PR's to the public so maybe we just need to be a little more patient.
Yes, I said that...Be more patient.
Who do you think is buying then?
Somebody else besides us must think there is a chance of GWGO up. Posts: 2498 | Registered: Mar 2006
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posted
There has been under $1600 traded so far today. I wouldn't get excited until some decent volume came in.
And actually, since I think you technically can sell at market, some trades may go through for significantly UNDER .0001. I haven't paid enough attention to see if that has happened, but with 16mil in volume, it's going to take a long time before all of the shares for sale at .0001 will get bought.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
I was just browsing the GWGO web site and ran across this. Looks like there are some notes due 3/1/07 which are guaranteed by St. James Capital. Anywone have any takes on this info?
Promissory Notes :-
Investment Group (Funding of acquisition of Treasure Kingdom Gold Mining Limited) - US$1,000,000 Investment Group (Funding of acquisition of Monstro Verde Gold Mining Limited) - US$1,000,000 Investment Group (Funding of acquisition of Copper Mountain Mining Limited) - US$30,000,000
These Notes carry an interest rate of 8% per annum and are redeemable on March 31, 2007. These Promissory Notes has been guaranteed by St James Capital Holdings, Inc.; and in the event of Great West Gold, Inc. defaulting on this Promissory Note, St James Capital Holdings, Inc. will be liable to the vendors in the capital amounts as aforesaid plus interest and would be forced to issue that amount so owed, in its shares of Common Stock in St James Capital Holdings, Inc.; to aforesaid Investment Groups.
Posts: 2498 | Registered: Mar 2006
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posted
Sorry about that. I couldn't copy it at first.
Great West Gold, Inc. – Corporate Update Company issues an update to its Stockholders NEW YORK, NY, March 1, 2007, Great West Gold, Inc. (PINKSHEETS : GWGO) wishes to update its stockholders on its plans and to address outstanding issues that are being managed by the Company’s new President, Mr Peter J Bezzano. Mr Peter J Bezzano, the President of Great West Gold, Inc. stated that he has, for the past two months, been familiarizing himself with the Company, all outstanding issues affecting the Company's credibility and more importantly, numerous stockholder concerns. He has now, read all of the stockholder communications with the Company and is now fully aware as to the immediate requirements and the demands of our stockholders and the Company’s bondholders. OUTSTANDING STOCK DIVIDEND DISTRIBUTIONS:- The Company is immediately resolving the issue of the outstanding stock dividend distributions with the Transfer Agent; this is expected to be resolved without any further delay. This is in respect of the dividend distributions in: Bouse Mining Holdings plc, Ambassador Gold Holdings plc, Golden Eagle Mining Holdings plc, Copperstone Mining Holdings plc and Sentinel Resource Holdings plc. The Company expects to report a satisfactory resolution within days. APPOINTMENT OF NEW AUDITORS: The Company has this matter in hand, certain accounting details are being finalized and upon this completion, the new Auditor appointment will be announced. This is expected to be completed very shortly as there is no reason for any further delays. OUTSTANDING FILINGS: It is the priority of this Company to bring its filings up to date immediately. We foresee no problems in this, given that we expect to appoint the new Auditor within days. APPLICATION TO BE REINSTATED ON THE OTC BB MARKET: This application will be made at such time as the Company’s filings are up to date. We do not foresee any problems nor should this exercise take an inordinate amount of time. This application cannot be made until the Company has brought its filings up to date. UPDATE OF CORPORATE WEB SITE: The various changes required to bring to the corporate web site up to date and to make it more informative, have been approved, and will be reflected on the web site within days. FUTURE PLANS: The Company remains committed to enhancing stockholder value and is at this time, continuing the finalization of our stated plans to create to three separately quoted Mining Groups (Two Gold Groups and One Copper Group), each to be quoted individually. The strong commodity prices have attracted a lot of unsolicited interest in this Company, from various third parties. We are at this time, evaluating certain proposals and will hopefully be in a position shortly to report back to our stockholders. We do not intend for this process to be delayed any longer. GENERAL : Further to stockholder inquiries, we can confirm the following : - The Company is not, at this time, contemplating a Reverse Split of its outstanding shares of Common Stock. - The Company is looking at an acquisition in a related Industry but is unlikely to close such an acquisition prior to the distribution of its Mining Assets to its stockholders. - The Forward Split of the Company’s Stock has been completed and all stockholders should in possession of their additional shares of Common Stock.
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