posted
Sniper, If I bought before the bayback date of June 15, then I would agree with you. However, I bought at the end of June and understood that my position was from the remaining 10% of the stock outstanding. Thus.....frustration to say the least.
-------------------- "No nation was ever ruined by trade." Benjamin Franklin Posts: 533 | From: Dooville, Indiana | Registered: Jul 2006
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posted
Follows is the response I received overnight from Investor Relations....At least I received a reply within 12 hours of submitting my question to I.R.
I am afraid this is purely in the hands of the brokers, as PAIM has already done its part by transferring to the DTCC approx. $27 Million worth of convertible debenture notes to cover the buyback of 90 % of outstanding shares, approx. 27 Billion shares in all. The buyback shall be deemed complete once DTCC transfers to Pearl Asian all of these common shares of stock that have been bought back.
I suggest you contact your broker and inform them of the latest PR.
Thank you for your continued interest in PAIM.
Best regards, Gary Gotanco VP-Bus Dev and INvestor Relations Pearl Asian Mining Industries, Inc.""
-------------------- "No nation was ever ruined by trade." Benjamin Franklin Posts: 533 | From: Dooville, Indiana | Registered: Jul 2006
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PAIM..the next PAIV...i got screwed this morning i sold my shares at .0001 and i had to cover today and finally filled at .0007....i am buying as much as i can on this dip cause etrade told me that they are going to inform many people today that they have to cover alot of people have to buy today!
so i am buying whatever i can right now this is going to be the next PAIV, but i have already lost $3200 on this
anyways goodluck
-------------------- please dont trade stocks on my alerts, do your dd first. Posts: 5265 | From: Alberta | Registered: Jan 2006
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posted
I don't know what happened with PAIV, but ok.
The thing is that i can't buy/sell anything because Scottrade is being wierd. Its not tradeable on Scottrade at all. What can i do?
Posts: 1128 | From: Houston, TX | Registered: Feb 2006
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posted
What is confusing to me is why the amount of .001 that is showing for Paim is not showing on my scottrade list...
Posts: 741 | From: North Carolina | Registered: Feb 2006
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im on the phone with ST now. They say its not tradeable. I was like yes it is. He checks and sees its trading at .001. He is calling someone else to understand.
Posts: 1128 | From: Houston, TX | Registered: Feb 2006
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posted
Maybe with all this contact with ST, something will be figured out so it will make a little sense....
Posts: 741 | From: North Carolina | Registered: Feb 2006
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Thats kind of not fair for people who are in a hole like me. I could have bought more shares after 6/15 when it was .0001. haha, this is odd!
Posts: 1128 | From: Houston, TX | Registered: Feb 2006
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posted
when i called etrade they told me u have to cover the shares u sold, and whatever extra u buy now u can sell anytime
so i covered the 4.5 mil i had to(took a nice 3.5k loss) and bought an additinoal 4.5 mil hoping to double or triple very soon when everyone has to cover(and etrade told me there were alot of people that do have to cover) so hopefully i just break even out of all this crap
-------------------- please dont trade stocks on my alerts, do your dd first. Posts: 5265 | From: Alberta | Registered: Jan 2006
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quote:Originally posted by megahead34: im on the phone with ST now. They say its not tradeable. I was like yes it is. He checks and sees its trading at .001. He is calling someone else to understand.
Good job. Be persistant. They obviously have no clue.
When it comes to penny stocks, they can't be bothered.
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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posted
I have requested assistance from Scottrade locally to research and work torward releasing the hold...and at the very least provide a viable contact name and phone number at the transfer agent Scottrade is using for settling PAIM. Will advise when I hear good info.
-------------------- "No nation was ever ruined by trade." Benjamin Franklin Posts: 533 | From: Dooville, Indiana | Registered: Jul 2006
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posted
buys at .001 and sells at .0006 to 0008 means buying at the ask puts you down 20 to 40 percent right out of the gate! I wont buy at the ask you guys do what you like!
Posts: 2503 | From: connecticut | Registered: Mar 2005
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ruthie, trust me dont sell if u bought these shares a while ago cause u are going to have to cover, if u just recently bought these share(like a week or so) then u are fine take ur profits if u want
but if u have had these shares for sometime now dont sell u will have to cover soon
-------------------- please dont trade stocks on my alerts, do your dd first. Posts: 5265 | From: Alberta | Registered: Jan 2006
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posted
alot (billions) of free trading shares were bought after the 15th many of them should be selling now for 400 to 800 percent! if i owned those shares i know i would sell into this confusion!
Posts: 2503 | From: connecticut | Registered: Mar 2005
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so yeah u will get filled in the middle it just may take sometime but the .001's have alredy thinned from 3 on the ask to only 2 on the ask so it might get passed .001 real soon, when it does it will be really running hard ( i think) as there are many people who have to cover
quote:Originally posted by madmoney: buys at .001 and sells at .0006 to 0008 means buying at the ask puts you down 20 to 40 percent right out of the gate! I wont buy at the ask you guys do what you like!
-------------------- please dont trade stocks on my alerts, do your dd first. Posts: 5265 | From: Alberta | Registered: Jan 2006
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posted
Ok, here's the scoop. Scottrade does not have the shares to trade this, waiting to get them from the DTCC. They said they are having issue's with Pearl Asian, and seems that the company has been sloppy in the past as well. But it is being worked out as we speak.
I asked him why its tradeable now, he said alot of brokers will trade with shares in the anticipation of them getting the shares.
He concluded that this might be resolved EOW.
Posts: 1128 | From: Houston, TX | Registered: Feb 2006
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quote:Originally posted by superman7: madmoney, dont buy at the ask!!
it was .0004 or .0005 or .0006 BY .001 all day
i got filled at .0006 and .0007
so yeah u will get filled in the middle it just may take sometime but the .001's have alredy thinned from 3 on the ask to only 2 on the ask so it might get passed .001 real soon, when it does it will be really running hard ( i think) as there are many people who have to cover
quote:Originally posted by madmoney: buys at .001 and sells at .0006 to 0008 means buying at the ask puts you down 20 to 40 percent right out of the gate! I wont buy at the ask you guys do what you like!
thats the problem, how many people sold short, this all went down after PAIV people DID sell those short but PAIM holders should have seen that fiasco and learned from it, the trueth is NO ONE KNOWS how many shares may have been sold short if any! this is moving on speculation and could crash as easily as fly!
Posts: 2503 | From: connecticut | Registered: Mar 2005
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posted
well when i called etrade they told me alot of people have to cover and they will all be notified today that they have to cover
so i thikn alot of people didnt learn the leson from JPHC or PAIV or whatever, i know i didnt cause i never had no JPHC at the time
quote:Originally posted by madmoney:
quote:Originally posted by superman7: madmoney, dont buy at the ask!!
it was .0004 or .0005 or .0006 BY .001 all day
i got filled at .0006 and .0007
so yeah u will get filled in the middle it just may take sometime but the .001's have alredy thinned from 3 on the ask to only 2 on the ask so it might get passed .001 real soon, when it does it will be really running hard ( i think) as there are many people who have to cover
quote:Originally posted by madmoney: buys at .001 and sells at .0006 to 0008 means buying at the ask puts you down 20 to 40 percent right out of the gate! I wont buy at the ask you guys do what you like!
thats the problem, how many people sold short, this all went down after PAIV people DID sell those short but PAIM holders should have seen that fiasco and learned from it, the trueth is NO ONE KNOWS how many shares may have been sold short if any! this is moving on speculation and could crash as easily as fly!
-------------------- please dont trade stocks on my alerts, do your dd first. Posts: 5265 | From: Alberta | Registered: Jan 2006
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quote:Originally posted by superman7: ruthie, trust me dont sell if u bought these shares a while ago cause u are going to have to cover, if u just recently bought these share(like a week or so) then u are fine take ur profits if u want
but if u have had these shares for sometime now dont sell u will have to cover soon
superman7, I don't think I quite understand. If someone bought shares before June 15th, didn't PAIM take way 90%? So could people sell the 10% they have with no reprecutions?
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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posted
billions of free trading shares have been sold since the 15th many will be looking to sell into this "run" if the ask moves into the tripple o range this could come apart fast, be careful.
Posts: 2503 | From: connecticut | Registered: Mar 2005
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posted
Yes i think so. But the pps was supposed to be at .001. Somehow alot of people are buying all these shares so cheap when its not supposed to happen.
Posts: 1128 | From: Houston, TX | Registered: Feb 2006
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posted
the 10% u can sell u wont have to ver those, but the other 90% u have to cover
i had 5 mil shares and had to cover 4.5 mil of them
and etrade is notifying peopel at the end of the day today that they have to cover so this just makes me believe this one is going way higher
as etrade told me alot of people there at etrade have to cover these shares
quote:Originally posted by Squire38:
quote:Originally posted by superman7: ruthie, trust me dont sell if u bought these shares a while ago cause u are going to have to cover, if u just recently bought these share(like a week or so) then u are fine take ur profits if u want
but if u have had these shares for sometime now dont sell u will have to cover soon
superman7, I don't think I quite understand. If someone bought shares before June 15th, didn't PAIM take way 90%? So could people sell the 10% they have with no reprecutions?
-------------------- please dont trade stocks on my alerts, do your dd first. Posts: 5265 | From: Alberta | Registered: Jan 2006
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posted
ruthie, u wont have to cover, beucase u never sold anything, i sold my shares and i wasent allowed cause they are restricted so i had to cover but u wont have to worry as long as u dont sell them
but alot of people will sell them when they see the price go up as much as it has and the sad part is they will have to cover in the future and i personally think the price will be way higher then
quote:Originally posted by ruthie: Superman 7, what do you mean when you say we will have to cover?
-------------------- please dont trade stocks on my alerts, do your dd first. Posts: 5265 | From: Alberta | Registered: Jan 2006
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