posted
The SEC does not look favorably on a company issuing a PR concerning hearings under suspension. Regardless of what the results were.
There may still be ongoing investigations, requirements to produce additional documents, incomplete audits, etc. before the conclusion.
Suspension of trading is for 10 days. Reopening of trading does not mean that an investigation is not still ongoing.
If USCA was cleared it would be unwise to announce such. If the investigation is ongoing it would be unwise to comment on anything.
If USCA issued a simple fluff statement to shareholders that everything was going well, many would complain about the lack of details. If they issue a PR stating that they were cleared, the SEC would come down on them. If they issued a PR stating that the investigation was ongoing, it would be misconstrued as some element of guilt since they weren't immediately cleared.
PRing at this point is a Catch 22. Wrong if you do, wrong if you don't.
Once again, shareholders have to be patient and await the results. There just isn't any other choice.
quote:Originally posted by legaleagle: The SEC does not look favorably on a company issuing a PR concerning hearings under suspension. Regardless of what the results were.
There may still be ongoing investigations, requirements to produce additional documents, incomplete audits, etc. before the conclusion.
Suspension of trading is for 10 days. Reopening of trading does not mean that an investigation is not still ongoing.
If USCA was cleared it would be unwise to announce such. If the investigation is ongoing it would be unwise to comment on anything.
If USCA issued a simple fluff statement to shareholders that everything was going well, many would complain about the lack of details. If they issue a PR stating that they were cleared, the SEC would come down on them. If they issued a PR stating that the investigation was ongoing, it would be misconstrued as some element of guilt since they weren't immediately cleared.
PRing at this point is a Catch 22. Wrong if you do, wrong if you don't.
Once again, shareholders have to be patient and await the results. There just isn't any other choice.
Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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Then you admit the resumption of trading isn't a stroke of genius or magic by RG, just routine. Just trying to debunk the euphoria over RG's superlegal prowess.
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
legal, if the temporary suspension was allowed to expire without being extended, why might there still be ongoing investigations? That seems odd to me. Why would they allow trading knowing that their investigation might possibly turn up evidence of some terrible nature only to discover that it is too late and shareholders have lost everything? Not arguing here. Just wondering. Don
Posts: 1005 | From: Grapevine, TX 76051 | Registered: Aug 2004
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quote:Originally posted by dwman: legal, if the temporary suspension was allowed to expire without being extended, why might there still be ongoing investigations? That seems odd to me. Why would they allow trading knowing that their investigation might possibly turn up evidence of some terrible nature only to discover that it is too late and shareholders have lost everything? Not arguing here. Just wondering. Don
If the SEC had found any serious wrongdoing on the part of USCA, there would have been an enforcement action taken. Remember, that a suspension follows an investigation. There has probably been an ongoing investigation for some time. Once the suspension was imposed, I would presume that Roger Glenn acted promptly to supply the needed documentation and exhibits to answer the SEC questions. So upon presentation of the required information the SEC investigator/s began verification.
By the time of the hearing, all investigations were complete, and the presentation began on both sides. If during that hearing the SEC sought any document/s that they wished to observe in support of either side's arguments, then the investigation phase would continue, until that document or evidence was produced. In short, a technicality.
If however, the bulk of the evidence were against USCA, the SEC would have taken enforcement action immediately.
So trading is good news. With the bulk of all documentation, investigatory reports, and other evidence, no enforcement action has been taken to date.
Is it possible that something lurks in the required documents? Of course. But it is not likely that counsel withheld anything of any substance. All in my opinion.
posted
What happened to the big/long theory writers? I have not seen any long pumping post lately by Dr.D, Sterling, Zen, Willy or anyone else. Did they sell and move on?
Posts: 264 | From: ATL | Registered: May 2004
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posted
What happened to the .0003 bid, and .0005 ask on CMKX? Never mind the windbag's theories. LOL
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
lol.... don't know will. I'll see if I can find that post and repost it here.
Posts: 1005 | From: Grapevine, TX 76051 | Registered: Aug 2004
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posted
Will, I do still believe that this stock will make it yet but I also know that there is wisdom in a multitude of council. For my check on reality, I think I probably have you and Upside to thank for that. Thanks for all you do. NOW LEAVE MY STOCK ALONE. LOL Just kidding. Keep me in check.
Posts: 1005 | From: Grapevine, TX 76051 | Registered: Aug 2004
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quote:Originally posted by zippycal: Funny thing is I have had buy orders in for usca at $2, $2.5, $3, and $3.5 and none of them have filled.
chris
Zippy
We are trading as gray sheets now, not the pinks.
Other OTC Or otherwise known as the "Grey Market" is the trading of a security that is not listed on any stock exchange or quoted on the Pink Sheets or the OTCBB. Other OTC trades are reported to the NASD so investors can track price and volume, however bids and offers are not collected in a central spot so Best Execution of orders is difficult.
[This message has been edited by legaleagle (edited November 11, 2004).]
If trading, but not on any board, it is considered to be trading on the gray market and are referred to in the trade as "gray sheets".
Here is the way it was stated when I looked just now...
quote:As well, there are many OTC securities that are not quoted on either the OTCBB or the Pink Sheets; however, they have trading symbols assigned to them so NASD members can comply with trade reporting obligations and report transactions in these securities. These securities are sometimes said to be on the "gray market".
quote:Originally posted by safeguard: Here is the way it was stated when I looked just now...
[QUOTE]As well, there are many OTC securities that are not quoted on either the OTCBB or the Pink Sheets; however, they have trading symbols assigned to them so NASD members can comply with trade reporting obligations and report transactions in these securities. These securities are sometimes said to be on the "gray market".
[/QUOTE]
Tne gray market is normally used to establish trade for a new company just before they go on a board. And occasionally it is used in a circumstance like this, while the MM's file their paperwork etc. With the SEC closed today, I would expect this situation to be corrected tomorrow.
posted
Again, there is no such thing as the gray sheets. The phrase "gray market" is used to define a certain category of stocks but there is no quote service known as gray sheets. I also cannot find your copied quote from the link you provided. Not saying it isn't there, I just was unable to find it.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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quote:Originally posted by safeguard: Down over 50%...why is that better?
I never said we were better off than before the temporary suspension. I thought we started off on the "so-called" gray sheets and then went to the pink a short time ago. Anyway, it was not meant to be a serious comment. Posts: 1005 | From: Grapevine, TX 76051 | Registered: Aug 2004
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quote:Originally posted by Upside: Again, there is no such thing as the gray sheets. The phrase "gray market" is used to define a certain category of stocks but there is no quote service known as gray sheets. I also cannot find your copied quote from the link you provided. Not saying it isn't there, I just was unable to find it.
Well if the paper is old enough it could have faded from pink to gray.
posted
Legaleagle Don't waste your time on it; dosen't pay to get into it because some people here get off on wanting to be right all the time and challenge inanely any intelligent posts. I appreciate your posts and take them as educated opinion and no more.
Posts: 43 | From: High Point, NC, USA | Registered: Jul 2004
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quote:Originally posted by Justhis1ce: Legaleagle Don't waste your time on it; dosen't pay to get into it because some people here get off on wanting to be right all the time and challenge inanely any intelligent posts. I appreciate your posts and take them as educated opinion and no more.
Thank you Justhisice, anything I say here is just my opinion, regardless of whether some want me to commit futher.
quote:Originally posted by will: You know, earlier you complained that I posted the PPS. Everyone interested in this situation was looking at it. The posts were only facts. Now UpMan posts some facts regarding the lifting of the suspension, and you complain about that, and throw in a personal nasty remark. You're a waste of my time, go with the abused, martyred, and foolish, whereever it is they gather. Now for the last time, nicely, leave me be.
Oh Will. It sounds like you are the self proclaimed Anti-Guru of CMKX on this board. I will leave you alone because you have absolutely nothing of value to say. There are some downsides to these stocks. I challenge you to show me the perfect company that doesn't have some sort of downside. There are also positives and value to the shareholders of CMKX/UCAD. You write of nothing but the negatives. If it looks like, sounds like and smells like a BASHER, then it must surely be a BASHER!
posted
A challenge? I think you're looking at the downside of these stocks right now. Now I challenge you to tell me the upside of these stocks. Not if this happens then it will be all good and well, but any positive you can tell me.
quote:Originally posted by bckibler: Oh Will. It sounds like you are the self proclaimed Anti-Guru of CMKX on this board. I will leave you alone because you have absolutely nothing of value to say. There are some downsides to these stocks. I challenge you to show me the perfect company that doesn't have some sort of downside. There are also positives and value to the shareholders of CMKX/UCAD. You write of nothing but the negatives. If it looks like, sounds like and smells like a BASHER, then it must surely be a BASHER!
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
i tend to look at most things with a positive view. i buy stocks believing they will do well. cmkx is one of those stocks. i was watching it as it went to .0011 and bought when it leveled out at .0007 & averaged down to .0004. i held the belief that one day it would do real well. even recommended it after we found out,not through cmkx, that the o/s was probably 400 billion. today i tell ppl i am part of the biggest scam ever to hit the market. i'd love to find 1 real positive piece of info about cmkx not someones guesses or fabricated story lines. i don't like kool-aide even when i make it. cmkx has 779 billion shares out and the dividend split is proof until cmkx can prove its not. hoping & guessing that its not isn't worth the time it takes to type out in here. no amount of diamonds, uranium, gold, silver or whatever will make 779 billion shares worth more then .0002 or .0003 period. it is not naked shorted because you cant buy restricted shares to cover a dividend. period. mm's can not buy CIM shares in any form as they are not real yet. period. end of naked shorted theory. if everything cmkx has said is true they have 1 gold mine in south america producing gold. mineral claims for diamonds & uranium that as of yet nothing worth mining has been found. 200 billion shares of a company that stated in a pr that they are looking for something to do. they have given shares of 2 companies to share holders 1 was just halted 1 is looking for something to do and isn't a public company anyway. they say we will get shares in another company who's pps is .08 and in my case after both dividends in this company i will have about $25.00 worth of stock that would cost $11 to sell for a net of $14. these are the facts plain & simple as of today. maybe & only maybe these facts might change but until then cmkx is not an investment its a dud.
Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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