posted
If a stock is on the SHO list, it implies that: (2) The MMs have done DD on it and find that it is a good risk to invest and profit from it; (2) The MMs will pull down the pps to accumulate the cheap shares; (3) There will be a huge rebounce; (4) Teh waiting time could be very long
If you can monitor the SHO list, and get in only after a stock has been out of the SHO list , if could be very profitable too. I hope somebody could volunteer for this timi-consuming chore. Thanks in advance.
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posted
sometimes a stock can appear on the list if it is thinly traded and there was a lot of volume. the mm's simply cant deliver the stocks in time because it is so thinly traded. if thats the case then the stock should come off the list, relatively quickly I think that this happened to HVYW,a stock i own, due to a bunk target price pr done by someone other than hvyw that went for the short.
sooo, is it a good thing to be on the list.... no is it the end of the world for the stock....no do some stocks stay on the list until the naked shorts kill them... yep.
this is just my opinion,and i could always be wrong, but ive dealt with the threshold list before and its no fun when one of your stocks ends up there.
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posted
I see how the MM's can actually carry out a sale to another MM to cover the short and start all over again, but there has got to be something the company can do to end this crap!!
LFWK, was doing something,,,,,,they shot right up. I wasn't a fan of them, but I will give them credit for taking steps...
N-54C Notification of withdrawal of election to be subject to Sections 55 through 65 of the Investment Company Act of 1940 pursuant to Section 54[c] of the Act.
I am not going to attempt to interpret sections 55 through to 65 but will post the links, so that everyone can read them for themselves :
A company to conduct business as an Investment company rather than as a BDC subject to the Investment Company Act.
It uusally gives a company a greater number of funding options, and allows capital to be applied directly to its operations and the expansion of its business. Structured as an investment company should provide a more suitable environment to raise capital.
As a BDC companies are more regulated and have a higher standard of financial requirements they must meet.
Here's a section from the PXIT filing :
Our ceasing to be a BDC would result in our shareholders losing certain protections, including the following:
• We would no longer be subject to the requirement that we maintain a ratio of assets to senior securities (such as senior debt or preferred stock) of at least 200%.
• We would no longer be prohibited from protecting any director or officer against any liability to our company or our shareholders arising from willful malfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of that person’s office.
• We would no longer be required to provide and maintain a bond issued by a reputable fidelity insurance company to protect us against larceny and embezzlement.
• We would no longer be required to ensure that a majority of our directors are persons who are not “interested persons,” as that term is defined in section 56 of the Investment Company Act, and certain persons that would be prevented from serving on our board if were a BDC (such as investment bankers) would be able to serve on our board.
• We would no longer be subject to provisions of the Investment Company Act regulating transactions between BDCs and certain affiliates and restricting our ability to issue warrants and options.
• We would be able to change the nature of our business and fundamental investment policies without having to obtain the approval of our shareholders.
• We would no longer be subject to provisions of the Investment Company Act prohibiting the issuance of securities at below net asset value.
• We would be no longer be subject to the other provisions and protections set forth in Sections 55 through 64 of the Investment Company Act and the rules and regulations promulgated thereunder.
• Our ceasing to be a BDC will not absolve us for any actions taken by us while a BDC and we could still become liable for such prior actions.
posted
Between the 10th of February and the 3rd of March, 159 million shares were traded. If you look at the period 10th of February till now, we're even talking about 283 million shares that changed hands.
The O/S is 96 million (as of 3rd of March). So we traded 3x the total O/S in less then two months.
*****************************************
"As of the close of business on March 3, 2006, we had 5,000,000,000 shares of common stock authorized, of which 93,238,196 shares were outstanding and 12,135,000 shares of preferred stock authorized, of which 246,594 shares were outstanding, specifically 5,000 shares of Series A preferred stock authorized, of which 2,656 shares were outstanding, 100,000 shares of Series B preferred stock, none of which were outstanding, 12,000,000 shares of Series C preferred stock authorized, of which 228,000 shares were outstanding, 25,000 shares of Series D preferred stock authorized, of which 11,820 shares were outstanding, and 5,000 shares of Series E preferred stock authorized of which 4,118 shares were outstanding. Each outstanding share of common stock is entitled to one vote per share; each share of Series A preferred stock votes with our common stock on an as converted basis; shares of Series C preferred stock are not entitled to vote; and each share of Series D preferred stock and Series E preferred stock votes with our common stock on the basis of one vote per share."
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posted
I do not see where the filing of a N-54C should have had that great an impact on PXIT price. It seemingly only relaxes the standards of financial restraints and options for funding of operations. It appears they will still be required to file periodic Form 10's and other required SEC filings. They are still an OTCBB. I am not a Securities Attorney, and sections 55 through 65 are pretty complicated for a common investor and/or a layperson. So, assuming that I translated what I read properly I would have to wonder why the big hit. In light of that I will be watching for a day when PXIT has more than 10M volume and is down in price, even it is one tick down. IMO, if/when that ocurrs PXIT will be making a reversal in price soon afterwards.
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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quote:Originally posted by will: I do not see where the filing of a N-54C should have had that great an impact on PXIT price. It seemingly only relaxes the standards of financial restraints and options for funding of operations. It appears they will still be required to file periodic Form 10's and other required SEC filings. They are still an OTCBB. I am not a Securities Attorney, and sections 55 through 65 are pretty complicated for a common investor and/or a layperson. So, assuming that I translated what I read properly I would have to wonder why the big hit. In light of that I will be watching for a day when PXIT has more than 10M volume and is down in price, even it is one tick down. IMO, if/when that ocurrs PXIT will be making a reversal in price soon afterwards.
Will,
I'm thinking the same thing (but my portfolio already has too much PXIT).
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posted
I dabbled at .0049, and sold with a small loss when I saw the panic sell off. Didn't, and still don't, understand the big decrease. It doesn't owe me much, and hopefully you managed to get in lower than I did, or have avg'd down. Owing me or not, the criteria I set above, a 10M+ volume day with a decrease in price, I'll be back for more than I initially had.
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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posted
Re-reading the DEF 14C, I noticed this right at the top. I overlooked it before :
"TO ALL STOCKHOLDERS OF PHOENIX INTERESTS, INC.:
The purpose of this letter is to inform you that holders of shares representing a majority of our voting power have given our board of directors the authority to withdraw our election to be regulated as a business development company under the Investment Company Act of 1940 by filing a Form N-54C with the Securities and Exchange Commission. We would not file the Form N-54C before March 31, 2006, and our board may elect not to file the Form N-54C."
Take note of the last sentence :
"We would not file the Form N-54C before March 31, 2006, and our board may elect not to file the Form N-54C."
Another thing one might want to look at is UNCN's filings. October 12, 2005 they filed a N-54C. Might want to check what impact that N-54C filing had on UNCN. I didn't see anything enlighting, but then again UNCN has announced a R/S since then. The R/S might have minimized the N-54C's impact, because of the gravity of a R/S.
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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posted
QBID'n, it is awefully nice of you to offer, and I do appreciate it. However, I won't be owning it that long, ( if at all). I never look at any of these pennies as viable companies worth investing in. In my opinion, the penny stock market is nothing more than an all day horse race, meaning it isn't much more than gambling. The only reason I even looked into the filing was because I had time, and wanted to educate myself, I never heard of N-54C before seeing PXIT's filings last week. Sorry, QBID'n, I am jaded and cynical when it comes to these penny stocks. Like I said early, a day with 10M vloume, and a decrease in price will be my signal get in, the behavior of the run will let me know when to get out. Even after reading all I have today about this company I honestly can't tell you what business they are in, believe it or not.
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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posted
I did a quick read the day that filing came out, and it sounded bad, but if all they are doing is freeing themselves from certain requirements that they can't meet, on a timely fashion, then they are probably better by not putting themselves in a position for scrutiny.
They can now operate like all other late filing or non reporting companies... I know I owned a few, and they did good from time to time...
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posted
I don't think the N-54C allows them to be nonreporting. They still will be required to file periodic form 10's and other required SEC filings. Nowhere in the explanation of the N-54C did I conclude that they would be allowed to be noreporting, maybe I missed something. As refernced, UNCN filed a N-54C, and I see they are still reporting since filing the N-54C in October.
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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posted
52 week low. Just needs to find bottom now. Can hardly trust guessing where bottom is on this one. They are really taking advantage of what is perceived to be bad news. Also let's not forget this is a victim of a 1 for 50 R/S as recent as 1/25/06.
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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posted
You know, this is rediculously low that it looks like a great buying oppurtunity,,,,,,,,and I was thinking, what if the MM's are really short on this, and it's pretty obvious they are,,,,,and all of a sudden buying pressure comes in and the MM's are forced to cover quick...
Would they be trapped? Would it effect any them?
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posted
There seems to be a lot of investors holding this stock by the shares that are being traded, should rebound in a hurry when volume picks up we will see, hard to figure this one.
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posted
I think stokker was part of it, I have never seen him post anywhere else. I sure would like to see this stock get a kick start, i think it will..... good luck.
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posted
I assure you stoker wasn't apart of anything other than trying to keep near the traders I trust. Dble Dimnd you have my email; drop me a line if I can provide you with more info.
-------------------- "The secret to happiness is freedom. The secret to freedom is courage" Thucydides.
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quote:Originally posted by will: I dabbled at .0049, and sold with a small loss when I saw the panic sell off. Didn't, and still don't, understand the big decrease. It doesn't owe me much, and hopefully you managed to get in lower than I did, or have avg'd down. Owing me or not, the criteria I set above, a 10M+ volume day with a decrease in price, I'll be back for more than I initially had.
Downtick + +10 million today = are you in ?
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posted
I have got to like this stock. I bought is at 0.26 about two weeks ago and sold 2 days later at 0.45...I check the stock again today and it is back down to 0.24! I am looking at it again and strongly considering getting in.. I don't believe for a minute this company has a future (CEO ordered to delist another company recently) but with this price and the volume traded make me think this is going to bounce again very soon. Just have to get out of the gamble before they fold....! any thoughts??
-------------------- If it walks, talks and look a like a duck, it is probably nothing like a duck at all.
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