posted
I bought back 300k shares of PAIV at 0.001 on friday, which should cover the small position of 50k from the JPHC conversion that I had sold on friday, however I bought these shares with money I sold from another stock, because I have a cash account with Ameritrade and although the money was available for trading (as mentioned on the website), I know this was unsettled funds (all other money was in other stocks). Is my position covered? I mean i HAVE the shares...
thoughts anyone?
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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posted
Basically as long as you can hand Ameritrade the X shares that you sold of PAIV on Friday, you're fine. In fact, I didn't have enough money in my Scottrade account to re-buy enough to cover, so I bought it in my Choicetrade accoutn. Scottrade said that's no problem, I can transfer them over. As long as the borker that you "shorted" with gets the right # of shares back, i don't thini it matters where/how you got them, settled funds or not.
But just to be sure I'd call them and ask, but I think you're fine.
quote:Originally posted by Hannibull: I bought back 300k shares of PAIV at 0.001 on friday, which should cover the small position of 50k from the JPHC conversion that I had sold on friday, however I bought these shares with money I sold from another stock, because I have a cash account with Ameritrade and although the money was available for trading (as mentioned on the website), I know this was unsettled funds (all other money was in other stocks). Is my position covered? I mean i HAVE the shares...
thoughts anyone?
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Pcola, I didnt mean to come across as people deserve what they get. I do feel like if people are going to invest or do anything, drive, hunt, fish they should know what they are doing to protect themselves. If they do that then they are safe. I hope everyone comes out clean on this deal, only time will tell. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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posted
I didn't mean you specifically, more just that I'm one of those people that wishes everyone could win. I'm a bit naive in that regard I guess I'd rather it be a situation where I bought a stock low, sold it higher, then whoever I sold it to was able to sell it even higher later. I can't bring myself to be of the mindset "Man, all these peole who accidentally shorted the stock are gonna be screwed and I'm gonna get rich because of it." Not saying it's wrong, just that it's not me.
quote:Originally posted by tmanfromtexas: Pcola, I didnt mean to come across as people deserve what they get. I do feel like if people are going to invest or do anything, drive, hunt, fish they should know what they are doing to protect themselves. If they do that then they are safe. I hope everyone comes out clean on this deal, only time will tell. TMAN...
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Strange the May 18 filing wasn't mentioned in the PR. There's some really weird stuff in here. Hoped an educated someone could shed some light on this...
Form SC 14F1 -- Statement regarding change in majority of directors [Rule 14f-1]
Worth paying atty to find out, because I'm just not learning from this experience - doomed to repeat entire lesson without remediation. Too many backdated questions left unanswered.
posted
its a lesson learned to people i think. For weeks we talked about the shares being restricted for atleast some period of time. Then some people woke up and had shares that they could trade, I am sure some little voice was telling them something was fishie but they sold anyway, and I bet were happy to get out. Now they have to go back and listen to that little voice and buy back. Just one of those lessons learned. I am sure everybody here bought back what they sold, no harm done! But just think of what COULD have happend, that stupid stock Jumps to some rediculous price and then you had to buy it back, now that would hurt!
-------------------- let it ride!!! Posts: 635 | From: Orlando Florida | Registered: Mar 2006
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posted
lol jeez people, who got mad at me buy suggesting you buy back your shares earlier today? Knocked me down from 4 stars to 2 stars!! I was only giving good advice
:-)
-------------------- let it ride!!! Posts: 635 | From: Orlando Florida | Registered: Mar 2006
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posted
The filing is pretty straightforward. What wierd stuff are you referring to?
quote:Originally posted by TickTrader: Strange the May 18 filing wasn't mentioned in the PR. There's some really weird stuff in here. Hoped an educated someone could shed some light on this...
Form SC 14F1 -- Statement regarding change in majority of directors [Rule 14f-1]
Worth paying atty to find out, because I'm just not learning from this experience - doomed to repeat entire lesson without remediation. Too many backdated questions left unanswered.
Can anyone decipher this filing?
Posts: 159 | From: San Diego, CA, USA | Registered: Feb 2004
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1. Does this statement provide for the exemption that was previously absent, making the shares tradable?
...common stock to the Jupiter stockholders was exempt from registration under the Securities Act of 1933 pursuant to Section 4(2) thereof.
2. Is this what was being traded during May 11 and May 19?
Following the Closing, there remain 200,060,002 shares of Jupiter’s outstanding Convertible Preferred Stock that were not exchanged for the Registrant’s shares. The Merger Agreement made no provision for the exchange of the Jupiter shares of Convertible Preferred Stock.
posted
This should make some of you with restricted shares feel better. A decent report IMO.
Name Age Position(s) Gregory Bauer 45 Chief Executive Officer President, Interim Financial Officer, Treasurer and Director
Guriqbal Randhawa 33 Director
Mr. Bauer currently holds the position of COO/President of Macro Communications. His primary focus has been to restructure debt and secure funding options. Since joining the team, MACRO’s debt has decreased by $3.7 million in a short period of time. In addition, he orchestrated two national distribution contracts which increased company revenue by 30%. Prior to this, Mr. Bauer successfully restructured WebUsenet as its COO and formulated a new company called WV Fiber in which his title was CEO/President. While at WV, he was responsible for setting the company’s direction and vision as a leader in the IP delivery space and delivered a sales pipeline that totaled $ 50 million in less than a year. Additionally, Mr. Bauer held the position of Executive Director of Sales at Interoute, a Pan European IP network based company in London. Before joining Interoute, he was Executive Vice President of Corporate Development for QOS Networks. During his tenure at QOS Networks he established multiple joint ventures and secured the largest bandwidth contract in the company’s history. Mr. Bauer has spent his career in a variety of leadership positions that have contributed to strong organizations. He has worked extensively with different cultures achieving success all over the world.
Mr. Randhawa is a former Wall Street analyst with more than eight years senior financial experience. He began his career with Deloitte & Touche in 1997, where he was first an auditor in Vancouver, B.C., and then a Senior Consultant with the Capital Markets Energy Trading Risk Management Practice in New York. In 2000 he joined New York-based Ziff Brothers Investments (“ZBI”), the multibillion dollar hedge fund group of one of America’s wealthiest families. As a Senior Associate at Ziff, Mr. Randhawa was responsible for following European and emerging market equities across a range of sectors. He aided ZBI in growing his investment management group from zero to 15 analysts and was assigned to lead several special projects involving more than $1 billion in total investment. In 2004, he formed Trivandrum Capital, an alternative strategy firm focused on Energy, India and Venture projects.
Mr. Randhawa graduated from the University of Victoria in 1995 with a B.A. in Economics, With Distinction. He subsequently pursued post-graduate studies in Finance and Accounting at Simon Fraser University. He is a Chartered Financial Analyst (CFA) and has completed the examinations for the Certified Public Accountant (CPA) designation.
-------------------- I buy fast and sell faster! Posts: 2018 | Registered: Jan 2006
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posted
1. The statement "exempt from registration under the Securities Act of 1933 pursuant to Section 4(2) thereof" indicates that the common stock is restricted. For a stock to trade on the open market, it must be registered. More information on this can be found at http://en.wikipedia.org/wiki/Securities_Act_of_1933 - note section "Registration process".
2. No. What was traded between May 11 and May 18 were registered JPHC shares. What was traded on Friday, May 19, were PAIV shares, and appears to be both unrestricted (the 56,575,212 shares of registered PAIV shares converted from APOA shares) and unresgistered (restricted) PAIV shares, which were not suppose to be traded. The remaining 200,060,002 Preferred Stock is in a "black hole" since "the Merger Agreement made no provision for the exchange of the Jupiter shares of Convertible Preferred Stock".
3. Nope, I'm free.
I do have to tell you, however, that there is something wierd with that filing =). See if you can figure it out.
quote:Originally posted by TickTrader: Just 3 will make me happy...
1. Does this statement provide for the exemption that was previously absent, making the shares tradable?
...common stock to the Jupiter stockholders was exempt from registration under the Securities Act of 1933 pursuant to Section 4(2) thereof.
2. Is this what was being traded during May 11 and May 19?
Following the Closing, there remain 200,060,002 shares of Jupiter’s outstanding Convertible Preferred Stock that were not exchanged for the Registrant’s shares. The Merger Agreement made no provision for the exchange of the Jupiter shares of Convertible Preferred Stock.
3. You gonna charge me for this?
Posts: 159 | From: San Diego, CA, USA | Registered: Feb 2004
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posted
letitride, I bought jphc when they acquired 30% of Macro. Had free shares, didn't sell, and happy about having 100% Macro. I almost bought more Friday and today, but I wasn't sure what we were buying. Awchit, that was the 4th question, but waiting to see how spendy th0th is gonna be.
posted
If you bought PAIV on Friday, today, or buy PAIV in the foreseeable future, you are buying registered PAIV common stock that is freely tradable.
Clue?
Sure... look at the numbers. See if they add up.
quote:Originally posted by TickTrader: th0th, you are special.
If I buy more PAIV, I am buying shares coming with a restriction, right?
Weirdness... Can I have a clue? Because there's a lot of weird things in there to me. Looking....
Posts: 159 | From: San Diego, CA, USA | Registered: Feb 2004
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posted
yup Tick, from what I have read they never sent out the new shares...which makes you wonder what the hell got put into everybodys acounts lol It's a giant mess! Thats why I had suggested earlier today if you sold it you should buy it back incase you are FORCEd to later at a huge loss. Better to be safe then sorry. And now I have 2 stars for my little opinion. I am going to bed night all!!!!!!!!
-------------------- let it ride!!! Posts: 635 | From: Orlando Florida | Registered: Mar 2006
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posted
PAIV should and does exist, but it's only supposed to be the 55million (or whatever) outstanding shares of APOA that existed as of close Thursday. Those are the only PAIV shares that should have been trading the last two days.
Scottrade told me today that the new PAIV stock was supposed to be in my accout today, but when I called them later in the day, they had said that the issuance was pulled, and they didn't have an estimated new date.
If you bought PAIV the last two days, or if you buy it tomorrow, you're technically buying some portion of the 55million PAIV shares that used to be APOA.
Seems like the people that wwere calling for a short squeeze were right, IF people are forced to buy back their shares. If those trades are somehow broken, there is potential that the people who have been buying PAIV shares that had nothing to do with the JPHC shares would basically have bought a normal stock, but there would probably be panic selling if people didn't see a short squeeze.
there's definitely risk involved, but it seems like the potential for a short squeeze is certainly there.
quote:Originally posted by TickTrader: Oh, yep, the numbers would have been another question, but I'm still stuck on events.
What I don't get...
jphc shares were supposed to be 'destroyed' and replaced with 'new-improved restricted paiv shares', which didn't happen. Or hasn't happened yet.
There shouldn't have been any trading on jphc after May 11, but it was slammin. And PAIV, technically, shouldn't even exist yet.
As much as I want to buy more, I don't get what it is that I'm buying.
Make sense?
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
i dont know.could there be some gain in it for them.there has to be some reason behind it.i dont buy that its a mistake
Posts: 1510 | Registered: May 2006
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posted
Great day guys for this one. I missed the move and too risky to play right now but congrat. to everyone who caught it at the bottom Good luck tommorow
Posts: 130 | From: Dallas | Registered: Mar 2006
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posted
from what i heard from the other boards, it looks like AT accounts holding paiv are going to be restricted starting tomorrow, so they can't buy/sell any paiv. with that in mind, not sure if there is going to be any sq, at least not tomorrow.
Posts: 122 | Registered: Mar 2006
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posted
scot, congrats may be premature. Except for settled trades on 56,575,212 shares, all other buys are going to be 'failure to deliver'. Daytraders should be okay.
posted
will read thread later, but here's my update, possibly obsolete by now, I dunno. Anyway, I did speak with a gentleman from the the IR firm this afternoon. It was his strong opinion that the company will be able to prevail upon Ameritrade (et al, I suppose) to effect a market solution. He said the company's biz model is based on moving to AMEX or NASDAQ; hence, they're really fighting to avoid suspension as that would "jeopardize their 15c-211" to remain on OTCBB.
posted
Thanks Tex, seems like that makes sense. If you're trying to get to a better exchange, you probably don't want your price going down by 90%
Although it still remains to be seen whether the shares are ACTUALLY restricted, or if the shares were just SUPPOSED to be restricted but won't be, because of a mistake somewhere along the line.
If anyone has a time machine that I can borrow, I'd love to go back to the day that I bought JPHC and smack myself around a bit.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
PC--what he was saying, is that a suspension would jeopardize even the OTCBB listing, thereby setting back the plans to move bigger, better
True? dunno...simply reporting what the IR guy said... the one that makes sense to me? after the GVRP debacle--in which Ameritrade also jumped the "electronic-share" gun--DTC just may take the position that Ameritrade has to clean it up...
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I'd rather it be a situation where I bought a stock low, sold it higher, then whoever I sold it to was able to sell it even higher later. I can't bring myself to be of the mindset "Man, all these peole who accidentally shorted the stock are gonna be screwed and I'm gonna get rich because of it." Not saying it's wrong, just that it's not me.
