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» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » QBID,,,Powder Keg *XXVII* (Page 83)

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Author Topic: QBID,,,Powder Keg *XXVII*
WinsumLosesum
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Here's the trades leading up to the close. Don't know if any of them were part of the buyback.

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Mack
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dont see any buyback yet today

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Bank It....

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Hutch
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Starting to think the buy back is done. Anybody Else?

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Sheldon L. Hutchins

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TraderTom
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Nope - here they come ... looks like 70 million, which is slightly above 25% of the total volume (250M).
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Mack
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there they go

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Bank It....

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WinsumLosesum
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Hutch
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Who has a rough count now on the shares they have bought back?

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Sheldon L. Hutchins

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Bigrod40
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Looks like afterhour buys were at .0019 not .002

http://finance.lycos.com/qc/livecharts/default.aspx?symbols=OTCF:QBID

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WinsumLosesum
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Whoa. The trade times and amounts pretty much match up, but Ameritrade's "Last Sale" clearly shows them as .002. That's odd...

Never saw that site before. Pretty cool, but I see it's just a demo.

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WinsumLosesum
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Bigrod40
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Win,
Its a delayed time site, which is free, however staying on to long times you out. Great for quick checks(at work when the boss isnt looking...LOL)

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Jennifercd10
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Any way of finding out who buys these a/h shares?

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Your greatest investment is into a peaceful heart.

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Jennifercd10
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I got this from RB site

SEC Rules

The company itself is covered by the SEC rules that prohibit insider trading in a public corporation’s stock. A corporation may not repurchase its own stock before any material inside information is reported to the public; a company should announce the decision to buy back stock before commencing actual purchases.

The SEC’s complex section 240.10b-18, referred to as Rule 10b-18, is generally regarded as the safe harbor for stock buybacks, although it does not provide absolute protection from litigation. Highlights of Rule 10b-18, which also provides various exceptions and traps, include the following:

Time. A corporation generally may not perform the opening trade on any day and may not trade during the 30 minutes before the market closes. The same restrictions apply to any affiliated purchasers, such as advisors involved in the decision to buy back stock.

Volume. During any one day, a corporation generally may not buy more stock than the larger of one round lot (generally 100 shares) or the number of round lots nearest to equaling 25% of the stock’s average daily trading volume for the four calendar weeks preceding the start of the buyback program.

Block purchases, which may be privately negotiated outside of the market, typically are not subject to the volume restriction if each block--


has a purchase price of at least $50,000 including at least 5,000 shares,
has a purchase price of at least $200,000, or
includes 2,000 shares (20 round lots) or more and is at least 150% of the stock’s average trading volume for the four calendar weeks preceding the buyback period.
Price. A corporation generally may not reacquire its stock with a purchase price or bid that exceeds the greater of the highest current independent bid quotation or the last independent sale price. Affiliated purchasers are bound to the same ceiling.

Broker or dealer. Only one broker or dealer may be employed on any one day to buy stock or make bids for the corporation and any affiliated purchasers.

Assume, for example, that X Corporation plans to repurchase shares of stock for employee benefit plans and that after the board of directors’ decision is announced, there is no material inside information. Before the buyback begins, X informs officers, employees, and directors of their responsibilities under insider trading rules. No individuals involved in X’s decision purchase any shares during the buyback period unless they coordinate their purchases with X. On Monday, X begins reacquiring shares through one broker, avoiding the opening trade and the last 30 minutes before the market closes. The top independent bid quote on Monday is $30. The last independent sales price is $29.50. None of the bid or settlement prices for shares that X buys exceed $30. X’s average daily trading volume for the last four weeks has been 120,000 shares. Monday’s market repurchases are limited to 300 round lots (25% of 120,000 shares), but one block purchase of 5,000 shares from a large shareholder is negotiated for a total cost of $147,500. On the basis of the facts, X’s buyback appears to comply with Rule 10b-18.

A smaller publicly held company’s legal department may lack the familiarity, time, or confidence to oversee occasional buybacks. Large brokerage firms have departments specializing in corporate stock repurchases. A corporation considering repurchases might interview several brokers and inquire about—


their Rule 10b-18 departments,
internal compliance systems and controls,
standard agreements with clients covering Rule 10b-18, and
indemnification of a client in the event that the broker violates SEC rules.
A corporation that regularly repurchases stock might rotate and monitor brokers to make sure that shares are consistently bought at good prices, a high level of service is delivered, and the CFO or other officers and directors have access to a depth of talent and expertise.

Financial Accounting and Reporting

The most obvious issue that stock buybacks raise for financial accounting and reporting purposes is the proper treatment of treasury stock. Both the cost method and the par value method are acceptable for GAAP purposes. Whichever method a corporation uses, the company generally presents treasury stock in its financial statements as a reduction in the stockholders’ equity section. The company records each repurchase at cost and maintains separate records to document the date of purchase, share price, and number of shares bought.

The company may use FIFO, average cost, or some other acceptable inventory method to track shares. If the corporation resells its treasury stock, perhaps because part of the stock buyback strategy involves holding shares for appreciation, the treasury stock account is credited for the cost of shares sold. Any difference is treated as paid-in capital in excess of par or stated value.

Under the par value method, a corporation increases its treasury stock account by the par or stated value of each reacquired share. The company removes from its books all of the original capital balances for the stock repurchased. Thus, when the amount paid exceeds par or stated value, the excess is debited to paid-in capital in excess of par or stated value up to the amount per share credited to the account when the stock was originally sold. Any additional amount that the corporation must pay in order to reacquire stock is debited to retained earnings. If the repurchase price is less than the proceeds at original issuance, the par value method credits the difference to paid-in capital from treasury stock transactions. Upon resale, any “gain” is credited to paid-in capital from sale of treasury stock. Any “loss” is debited to paid-in capital to the extent that it offsets gains from previous sales of the same class of stock; the excess is debited to retained earnings.

In some instances, the amount paid per share for a block purchase or other reacquisition could significantly exceed the current market price. Analysis may indicate that the company should allocate part of the amount paid to certain rights or privileges not apparent on the face of the transaction.

Accounting and reporting for treasury stock may differ in certain circumstances. Also, previous transactions or choices of accounting methods can affect the financial treatment of stock buyback programs or even eliminate them altogether. For example, according to Staff Accounting Bulletin No. 96 (SAB 96), the SEC may disallow use of the pooling method to account for a merger if a company buys back stock as part of the transaction or if the combined company later repurchases stock outside of certain safe harbors. Financial measures would suffer and the entire market capitalization of the combined entity could plummet if the purchase method of accounting were then required. As a result, some companies have avoided buybacks and even rescinded repurchase programs already announced. One factor that increases a corporation’s vulnerability to SAB 96 is that the SEC staff views the “formulation of an intention” to repurchase stock, not the buyback announcement, as the action that eliminates pooling of interests.

Certain uses of reacquired stock may themselves call for specific financial accounting methods. For example, stock issued to employees may lead the practitioner to APB 25, ARB 43, FAS 123, or perhaps to FASB interpretations or other sources of GAAP. Furthermore, the year’s compensation expense reported for book and tax purposes may differ, raising deferred tax issues.

Rather than straightforward purchases of stock, a company could reacquire shares by means of option contracts, equity forward contracts, or other instruments. ABC Corporation might arrange for a bank to buy ABC shares for future delivery at a particular (e.g., current) price plus interest. Some variations of these methods could result in off-balance sheet financing in the interim. Accounting and reporting for these transactions is beyond the scope of this article.

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Your greatest investment is into a peaceful heart.

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Kevin from NYC
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www.*************.com

BUY-IF

TRIANGLE MULTI-MEDIA INC
Daily Commentary


Our system posted a BUY-IF today. The previous SELL recommendation that was confirmed was made on 05.18.2005 (20) days ago, when the stock price was 0.0027. Since then QBID has fallen -25.93% .

Today a White Marubozu was formed. This shows that the buyers controlled the price action from the first trade to the last trade.

The last two candlesticks formed a Bullish Meeting Lines Pattern . This is a bullish reversal pattern that marks a potential change in trend. However, its reliability is not very high and it requires confirmation.

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buckwheatbob
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Anyone ready to begin a new thread? This one is getting kind of long, don't you think?

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Buckwheat

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imakmony2005
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I just cant get filled at 0.0019 ?? Why does jenn?? AND MISTRO CYOS ONE DAY 50% AND OUT.
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Jennifercd10
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I had my .0019 order in for a week! I also have a buy in at .0018. its been there for a week also

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Your greatest investment is into a peaceful heart.

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imakmony2005
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WOW,MUST BE ME.
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Esteban
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imakmony2005, I have had a buy limit order with Ameritrade for the past two days at 0.0019 with no results.
Esteban

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HILANDER
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Probably should just buy at the the ask. I really dont think .0001 is gonna make that mauch difference. I mean on a two milly order it's what 200 bucks.

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If it wasn't for bad luck I'd have no luck at all.

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imakmony2005
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HMM,THATS ODD.
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imakmony2005
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HEY, HILANDER CAN I HAVE 200 BUCKS.THANKS BUDDY OLD PAL.
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imakmony2005
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SEE, thats not where im going with this.
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HILANDER
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Right on, I think I figured out where you were going after I posted. You gotta understand, I've been in an Army school for the last week so my conceptual thinking skills aren't exactly honed to razor sharp edge right now. Oh, and I wish I had 200 bucks to give you, but it would appear I am pretty much broke right now. [Big Grin]

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If it wasn't for bad luck I'd have no luck at all.

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bige2533
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quote:
Originally posted by Mack:
dont see any buyback yet today

What makes everyone think the after hours trades are a buyback? Here are the SEC rules governing buybacks (see link). The 25% is explained as the average daily trading volume reported for the security during the four calendar weeks prior to repurchase. Not 25% of the current day volume.

http://www.sec.gov/rules/final/33-8335.htm

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buckwheatbob
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Look what I found!

http://mm.dfilm.com/mm2s/mm_route.php?id=2441546

[Smile]

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Buckwheat

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HILANDER
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It has been a wile since I have seen any movies here. Too funny. BTW, the porno music was a nice touch. [Big Grin]

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If it wasn't for bad luck I'd have no luck at all.

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Penny-Trader
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why are you worried about it.

you see what is happening, if your not happy with this stock you can sell us your shares and we will look after them for you.


quote:
Originally posted by Maestro232:
So....why isn't the stock going up?



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Dont buy or sell on my opinions, do your research. Make sure you know what you are buying before you buy.

This is a non reporting pink sheet with very high risk. From high risk comes high rewards.
Dont invest more then you can afford to lose.

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qnique
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I'm still holding but if they don't announce any other carrier by the end of this year I'm done with. It doesn't take that long to get one other carrier. By the way what about the 16 million available viewers they are supposed to get in June, when will that be announced? This company is working a avery slow pace, REALLY SLOW.

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qnique

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MillerTIME
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patience, patience, patience.
the more Frank buysback, the more i believe he has something up his sleave!

would somebody be able to announce the level II on qbid on a regualar basis throughout the day for those of us who cannot get onto it, or just dont have pink level II. thanks

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Buy the silence-Sell the noise
SFTV.004-.0075
AVNT.0018-.0033
FPPL.0034-.03
WEGI. My new Call

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Doctoall
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quote:
Originally posted by buckwheatbob:
Look what I found!

http://mm.dfilm.com/mm2s/mm_route.php?id=2441546

[Smile]

Great but the only thing missing is the cheesecake [Big Grin]

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Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow

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g-invest
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I think I'm going to write up a QBID history, post it for investors, and then quit posting and leave the forums. This stock does nothing based on what bashers say. They keep rehashing the same 4 issues, and it gets old really fast.

Granted, those issues matter, but no one here really has any idea of what Frank has planned, be it good or bad for those of us in the stock long term. I think it's just best to buy and wait. If you don't see this as a .02 stock in a few months who cares? After LOGO hits it big, how hard is it going to be to attract new carriers?

IMHO, this stock has the potential to do well. I don't see it hitting a dollar without a R/S, but it certainly could hit ten cents. And with the pinks, why is that really all that bad?

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As a forum poster, it is ironic that you are held to a higher standard than a Pink Sheet CEO.

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Penny-Trader
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those rules where recently changed and you can read about it here

http://www.dorsey.com/publications/legal_detail.aspx?FlashNavID=pubs_legal&pubid=123659603


quote:
Originally posted by bige2533:
quote:
Originally posted by Mack:
dont see any buyback yet today

What makes everyone think the after hours trades are a buyback? Here are the SEC rules governing buybacks (see link). The 25% is explained as the average daily trading volume reported for the security during the four calendar weeks prior to repurchase. Not 25% of the current day volume.

http://www.sec.gov/rules/final/33-8335.htm



--------------------
Dont buy or sell on my opinions, do your research. Make sure you know what you are buying before you buy.

This is a non reporting pink sheet with very high risk. From high risk comes high rewards.
Dont invest more then you can afford to lose.

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Leo
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"I think it's just best to buy and wait. If you don't see this as a .02 stock in a few months who cares? After LOGO hits it big, how hard is it going to be to attract new carriers?"

Cheers G, you said it, buy and wait...Go Q!!!

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TraderTom
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What's imporant to remember is that these "rules" define a "safe harbor" procedure that allows companies to do buybacks without the risk of getting sued; therefore, these rules are not like a "law". So if the buyback exceeds the numbers of the safe harbor rules, it doesn't automatically mean the buyback was illegal.

It actually seems the SEC is mostly concerned about companies driving up the price during buybacks; that's why there's a limit on the volume and on the price of the buyback. So in reality, if the PPS stays flat or slightly drops during the buyback, which is the case with QBID, it would be hard to sue the company for "manipulating" (up) the PPS, even if the buyback volume is over 25% of the average volume.


quote:
Originally posted by bige2533:
quote:
Originally posted by Mack:
dont see any buyback yet today

What makes everyone think the after hours trades are a buyback? Here are the SEC rules governing buybacks (see link). The 25% is explained as the average daily trading volume reported for the security during the four calendar weeks prior to repurchase. Not 25% of the current day volume.

http://www.sec.gov/rules/final/33-8335.htm


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