posted
The ask and bid both are at 0.0001. Does this mean that it is going to vanish?
Posts: 49 | From: Grand Rapids | Registered: Aug 2005
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posted
No, that could mean that the actual trading values are between .00005 and .00014. MM's can trade at one additional digit level.
Volume is up, yes, but not as high as historic levels. This stock has trade more shares than its float in the past (before split). This is like 1/8 of float, iirc.
-------------------- May your trading build your character as well as your portfolio. Posts: 1763 | Registered: Jan 2005
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posted
Did you see that trade at "0.00"? Must have been under $.00005
I suspect that short sellers (MMs) are killing this stock. The CEO tried (is trying?) to deal with it, but I don't know what any person can do about MMs shorting their stock (naked short selling, that is).
I'm rather disappointed, but not paniced. I went into this with a small amount of cash I could afford to lose. However, knowing some things about the company, I'd rather lose the money due to the company not making it than some stupid broker counterfeiting shares of stock.
>:{
-------------------- May your trading build your character as well as your portfolio. Posts: 1763 | Registered: Jan 2005
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posted
Wasn't there an article on this broad a week or two ago about naked short selling? I had read it. It was either the courts or the SEC investigating this issue. Hate the MM's so much Posts: 171 | From: berkeley, il | Registered: Aug 2005
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posted
The subject was started by databig. This was in the link he provided.
August 29, 2005 Naked Short Selling Subpeonas Issued to Firms
The stock loan departments of 35 brokerage firms are now being issued subpoenas. The subpeonas were issued by the Department of Justice as well as the Securities and Exchange Commission. This is most definitely in connection with the ongoing practice of naked short selling. It is defined as selling short without borrowing the necessary securities to make a delivery, thus resulting in a failure to deliver the securities to the rightful owner. The main goal of naked short selling is to engage in harmfully affecting the price creating downward pressure on the security. Today, that pressure is being forced upon various brokerage firms that have failed to stop the practice, even with the installment of Regulation SHO, which was supposed to prevent naked short selling. More to come soon as the Fed is finally starting to crack down.
Posts: 171 | From: berkeley, il | Registered: Aug 2005
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posted
Union Equity Sets Sites on Rising Foreclosure Opportunities Business Wire - September 26, 2005 08:40
PALM BEACH, Fla., Sep 26, 2005 (BUSINESS WIRE) -- Union Equity, Inc. (Pink Sheets:UNQT) is pursuing foreclosure opportunities in key areas of South Florida.
The Company is going after properties that have entered the "Lis Penden" stage; meaning that the owner has missed at least three mortgage payments and the lender has filed the very first document to initiate foreclosure proceedings.
Whereas six months ago foreclosure listings were relatively sparse, the number of properties entering foreclosure is rising steadily.
The recent spike in foreclosures can be attributed to the interest-only, refinancing boom that occurred several years ago. Many of these loans featured enticing teaser rates and low monthly mortgage payments for the first three years. Now that the three year lock period has expired, applicable interest rates have adjusted upward. Many homeowners are finding themselves in the awkward position of having to meet a monthly mortgage payment that may be as much as 50% higher than they are accustomed to.
"We're seeing several new foreclosures a day in our target areas," said Union Equity CEO Michael Anthony. "We're systematically contacting select property owners of condominiums and single family residences and offering them a way out."
Most recently, Union Equity acquired a Mizner Mini-Mansion located in the historic Northwood District of West Palm Beach. The two-story, single family residence with guesthouse was purchased for $630,000.
The company is also currently working on the expansion of Home Sales Express, Inc., a wholly owned subsidiary, and its corresponding website http://www.KingOffer.com.
Home Sales Express, Inc. is a comprehensive resource for homeowners who want to participate as buyers or sellers in the For-Sale-By-Owner (FSBO) market. Through its website http://www.KingOffer.com, Home Sales Express is designed to attract owners of distressed properties that are not yet listed on the open market for purchase consideration by the Company. The site can also accommodate owners of conforming properties who want to sell directly without the assistance of a real estate agent.
Shareholders and other interested parties who have not done so already are encouraged to sign up for Union Equity's electronic newsletters at http://www.UNQT.com and the latest real estate news at http://www.KingOffer.com.
About Union Equity
Union Equity is a real estate development, services and holding company. The company operates independently and through subsidiaries and plans to grow aggressively over the next several years through acquisitions, mergers, internal growth and the development of a dynamic internet presence.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, which represents the Company's expectations or beliefs concerning, among other things, future operating results and various components thereof and the adequacy of future operations to provide sufficient liquidity. The Company cautions that such matters necessarily involve significant risks and uncertainties that could cause actual operating results and liquidity needs to differ materially from such statements, including, without limitation: (i) increased competition, (ii) fluctuations in price, demand and supply of real estate markets and (iii) risks associated with high capital long term investments. In addition, any forecasts made by the company, whether short-term or long-term, regarding future profitability are based on hypothetical business models and do not constitute a guarantee of profitability. Investors are highly advised to seek professional advice and conduct a complete due diligence regarding this, or any other company being considered for investment purposes. Investing in securities, particularly in issues priced at less than $1 per share, involves substantial risk and may result in a partial or complete loss of investment capital. Investors who initiate such an investment strategy should possess the financial net worth to withstand such a loss. Union Equity, Inc., its subsidiaries, officers and employees cannot guarantee the completeness or accuracy of the information contained in company press releases. Press releases issued by the company should not be interpreted as an offer to sell or a solicitation to buy company stock.
Further information on the company can be found on their website; http://www.UNQT.com.
posted
I know this is kind of a useless question, but back in July, UNQT gave a bonus of stock in a spin off of theirs. My Ameritrade account is showing 420,000 shares of nothing, with a value of ... thats right ... NOTHING. Anyone else have any info on this no-value stock?
Posts: 176 | From: South Bay, California | Registered: Feb 2005
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posted
Still got mine, just gotta wait till they go IPO with it, maybe we'll see some worth out of it. Otherwise its gonna be worth nothing Posts: 1097 | Registered: Jun 2005
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posted
I hope this thing someday is worth something because UNQT is on life support.
Posts: 1326 | From: Providence,RI,USA | Registered: May 2004
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posted
I can't say my stock is woth nothing because right now its worth $20 lol
This is the lastest off of pinksheets.com
PALM BEACH, Fla., Sep 26, 2005 (BUSINESS WIRE) -- Union Equity, Inc. (Pink Sheets:UNQT) is pursuing foreclosure opportunities in key areas of South Florida. The Company is going after properties that have entered the "Lis Penden" stage; meaning that the owner has missed at least three mortgage payments and the lender has filed the very first document to initiate foreclosure proceedings.
Whereas six months ago foreclosure listings were relatively sparse, the number of properties entering foreclosure is rising steadily.
The recent spike in foreclosures can be attributed to the interest-only, refinancing boom that occurred several years ago. Many of these loans featured enticing teaser rates and low monthly mortgage payments for the first three years. Now that the three year lock period has expired, applicable interest rates have adjusted upward. Many homeowners are finding themselves in the awkward position of having to meet a monthly mortgage payment that may be as much as 50% higher than they are accustomed to.
"We're seeing several new foreclosures a day in our target areas," said Union Equity CEO Michael Anthony. "We're systematically contacting select property owners of condominiums and single family residences and offering them a way out."
Most recently, Union Equity acquired a Mizner Mini-Mansion located in the historic Northwood District of West Palm Beach. The two-story, single family residence with guesthouse was purchased for $630,000.
The company is also currently working on the expansion of Home Sales Express, Inc., a wholly owned subsidiary, and its corresponding website http://www.KingOffer.com.
Home Sales Express, Inc. is a comprehensive resource for homeowners who want to participate as buyers or sellers in the For-Sale-By-Owner (FSBO) market. Through its website http://www.KingOffer.com, Home Sales Express is designed to attract owners of distressed properties that are not yet listed on the open market for purchase consideration by the Company. The site can also accommodate owners of conforming properties who want to sell directly without the assistance of a real estate agent.
Shareholders and other interested parties who have not done so already are encouraged to sign up for Union Equity's electronic newsletters at http://www.UNQT.com and the latest real estate news at http://www.KingOffer.com.
About Union Equity
Union Equity is a real estate development, services and holding company. The company operates independently and through subsidiaries and plans to grow aggressively over the next several years through acquisitions, mergers, internal growth and the development of a dynamic internet presence.
Posts: 171 | From: berkeley, il | Registered: Aug 2005
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