posted
Duke, IMO its a momo play. Too many things are too hokey. I am playing it as such until their is some additional HARD CONCRETE evidence to sway my opinion. The evidence is NOT what people post on bulletin boards. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
| IP: Logged |
posted
I gave up trying to figure out who was what and what was where and who is in bed with who on this one. All I can say is check the florida sos and see the two corps with the same name but different addresses, officers etc. one was gonna change domiciles and supposedly moved to delaware but i dont think that even plays into this as they still filed in florida up until late 1999. one reversed split into another company in 2006. both are somehow intertwined and pinksheets has info about both under the same ticker. I have a headache and I am now going to take a nap. If anyone figures it out let me know. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
| IP: Logged |
posted
This probably doesn't help, but looking at share price and volume on stockcharts for last year, this particular BHUB did not reverse split.
O/S still a mystery. I'd like to believe there is a short position 50X the float, but that's hard to swallow.
I bought yesterday at .0005 so of course I'm not complaining, but this has now been compared to PAIV at least once and I'm afraid to even contemplate a PPS of .25
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
| IP: Logged |
>>>>>>>> How BigHub raised big money and avoided Securities and Exchange Commission scrutiny
OPINION
By Christopher Byron
MSNBC CONTRIBUTOR
May 18 1999
A curious document has been making the rounds on Wall Street in the last couple of days. Across the top are written the words Confidential Placement Memorandum. But what the document really amounts to is a warning of the perils that await investors in so-called bulletin board stocks that trade on Nasdaq's Over The Counter market.
Will investors get little from BigHub? Share your view
Bighub.Com Inc (the)
(BHUB)
price
change
$15.25
+0.625
Data: Microsoft Investor and S&P
Comstock 20 min.delay
THE PERILS lurk in the fact that virtually no bulletin board stocks are required to file financial reports with shareholders or the Securities & Exchange Commission. And that in turn means that people often have nothing to base their investment decisions on except rumors and company-orchestrated press releases that rarely tell the full story. Case in point: the secret, though apparently quite legal, money-raising scheme of a Web-site operator known as BigHub.com. Until May 17th, BigHub (at http://www.thebighub.com/) was known instead as iSleuth.com, a Web search engine company through which Web users can, in effect, search the Web by tapping into many conventional search engines at once.
The company's stock sold for barely $1 a share as recently as last November. But with the explosion in
Internet stocks, iSleuth.com as well got swept aloft, and by March was trading for $5 per share. But then in early April, and for no obvious reason, the company's stock price began to surge on volume that itself began to grow. One possible explanation for this now presents itself in the form of some rapid-fire developments that have followed the runup. Most of these developments were eagerly brought to the public's attention by way of company-issued press releases but one key development has been kept shrouded in secrecy until now.
First, on May 13, with iSleuth's shares having already doubled from their mid-April level, the company announced that it was changing its name from iSleuth to BigHub.com and was launching a new growth strategy designed to make the site a retailshopping portal.
Shortly after changing its name from iSleuth.com to BigHub.com, the company began circulating a
confidential placement memorandum on Wall Street to raise $20 million for the company.
Then, only days later, the company announced on May 17 that two top officials from Shopping.com ù the California-based Web site that was recently acquired by Compaq Computer Corp. after having become mired in a securities fraud scandal involving its underwriter ù were joining BigHub.com's board of directors. Though the company issued a steady stream of press releases documenting these and other stock-boosting developments, it somehow overlooked telling the public something of obvious interest to every investor. The vital information? That shortly after changing its name from iSleuth.com to BigHub.com, the company began circulating a confidential placement memorandum on Wall Street to raise $20 million for the company. Investors who had paid as much as $15 per share for BigHub.com's common stock in the run-up would doubtless have been shocked to learn that the $20 million being raised through the offering was, in effect, being raised directly at their expense. The gimmick? A highly dilutive rights offering in which sophisticated investors were being offered a chance to buy convertible preferred shares that could be quietly held for 30 days, then exchanged for BigHub common stock at $4 per share. Thereafter, as set forth in the offering, the $4 shares would be able to be resold in the open market for perhaps as much as $15, giving investors a whopping 300 percent return on their money.
For their part, everyday investors were set up to stand by in blithe ignorance that the deal was even taking place at all. As a result, they would not have known that the company's total shares outstanding were in the process of secretly being doubled, promising a 50 percent or more dilution in their existing equity interests ù and, possibly, a collapse in the value of their holdings as well.
SEARCHING FOR DATA
The company's investor relations spokesman, Sanjay Sabnani, said Tuesday that he knew nothing of the deal and could offer no explanation as to why the existence of the offering was not publicly disclosed. He directed further inquiries to one of BigHub's new board members, Mr. Pat J. DeMicco, an ex-marketing vice president at Shopping.com. At press time, DeMicco had not returned calls.
In reality, the mystery enveloping BigHub.com derives from the fact that BigHub is a so-called non-filing company. That is the status of companies that begin life as penny stock offerings in which shares are sold to the public in amounts that raise less than $1 million per year. Such offerings are generally exempt from securities law financial reporting requirements. As a result, BigHub.com was under no obligation to
disclose to its stockholders that it was, in effect, setting them up as bait for a sale of $20 million worth of convertible preferreds.
And because the convertible preferred offering was ostensibly being marketed only in units of $1 million-plus and thus only to presumably sophisticated investors who knew what they were doing ù that offering as well did not have to be registered with the SEC.
In other words, for this publicly traded, $65 million (market cap) company to raise yet another $20 million from investors, nothing had to be registered with the SEC not for the $20 million in the private placement, nor indeed for the $65 million worth of underlying common shares that gave the whole deal its appeal.
Nor is it even clear how the company will now use the resulting proceeds. The offering says only that the money will be used for marketing, working capital, and general corporate purposes How things work out in practice thereafter will be, well, just another one of those multiplying BigHub unknowns.
Though the offering memorandum says the company intends to file a registration statement with the SEC within 60 days of the completion of the offering, its credibility on that score simply isn't very convincing.
In January, the company issued a press release saying it intended to become a fully reporting company with the SEC following the completion of its annual audit in February. But it is now mid-May, and according to Sabnani, the company has so far not done so. And even if the company does now file an S-1 for the preferred shareholders, there is no assurance that the registration will be approved. This could mean that even the fat cats as well could wind up BigHub stuckholders instead of stockholders, while the company itself winds up never having to account adequately for the money at all. Would you like to get in on the deal anyway? Sorry, but you're too late. Said Vince Callichia, who has been fielding calls on the deal at the Wall Street firm of Robb, Peck and McCooey, The deal is pretty much closed. I can't give you any information on it. When it comes to Over The Counter bulletin board stocks, that is always the end of the road where all inquiries eventually wind up: Sorry, no information available. In other words, invest at your peril.
<<<<<<<<<<<<
-------------------- ah poop. Posts: 186 | From: Washington | Registered: Feb 2007
| IP: Logged |
posted
Thanks Tman and 42.....I came up with that same headache.. However If and I say IF the O/S is 30 mill...look out, Well worth holding a lotto ticket on...IMO...P.S. Good to see a nice close.
Posts: 360 | From: black hawk , colorado | Registered: Dec 2005
| IP: Logged |
posted
Well my nap didnt bring a divine intervention on how this is all tied together. lol. Lets look at the information we do know... 1. There are 2 corps listed in florida under different file numbers and different ceo's. One ceo is john sparrow. he is the ceo listed at pinksheets. Pinksheets show that the previous company name is isleuth.com. No problem right? Well this particular filer that has john as the ceo filed a form to have a R/S of 1/1000 and change the name to "advanced growing systems inc." This company is now trading as agws.pk. The problem with that issue is agws.pk doesnt show to be bighub.com previously at Pinksheets. (Now dont get me wrong, pinksheets is not perfect but that is all i got, lol.) And agws is now domiciled in Nevada. Did that actually come to fruition, maybe not and now bhub is just sitting there getting traded for no reason other than momo. 2. AHHHH the second bighub, (bighub2). A guy named Taule was the Ceo. There is a file showing that he signed an affidavit changing the name from a health care company to isleuth in 98. Then a different ceo changed the name in 99 to THE BIGHUB. In the edgar file posted on another page here shows that they intended to file in Delaware and they did, but I dont think they ever issued shares from that domicle. So imo the delaware info is irrelevent. 3. There is no filings from late 01 to 05 when the bighub1 filed via a registered agent to become a corp in fla. was that to reactivate the corp? maybe. 4. bighub1 also filed to change the name of the company BUT bhub is still trading AND agws.pk is trading but not as the previous bighub. hmmmm 5. another company is/was looking to do a RM with bighub but hasnt happened. If bhub had done the rs and changed to agws then this new company probably wouldnt be interested.
Ok that is all I know. I tried not to impose any opinion but that of course is hard to do. The one thing we dont know and I would love to know is the OS. Oh well. I am glad to see it at .001. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
| IP: Logged |
posted
All credit goes to "The_Pink_Lawyer" over at IHUB for this post. Just some food for thought.
Were Market Makers (MMs) caught with their pants down on March 8, 2007 with 1.3 billion shares of unexpected volume? Did the the MMs not know that BHUB was going to reverse merge with Cyberhand Robotics and, thus, taken by surprise, naked shorted to the tune of 1.3 billion shares to handle the volume on that fateful day? Have the BHUB traders caught the MMs red handed and now going to make them pay and pay dearly? If so, a potential Mother of All Short Squeezes (MOASS) about to hit BHUB that will make the PAIV and AWYB runs look like small fry.
Immediately preceding the 1.3 billion volume share run on March 8, wherein BHUB ran from .0001 to .0007, there was zero or practically zero volume. This means that the MMs did not frontload in anticipation of a run and were not expecting BHUB to run and, thus, could not dump their frontloaded shares for a profit when the run came. The very fact that the MMs did not frontload means that they were caught by surprise on March 8. The MMs were probably wondering "what all the fuss" was about and simply naked shorted BHUB to handle the volume of transaction on that day, thinking that, as with 99.9% of all penny stock runs, that BHUB would crash to .0001 again and need not ever have to cover because the volume would go back to zero.
What the MMs were not counting on was the I-Hub Team discovering that BHUB was the reverse merger partner for Cyberhand Robotics and that the CEO of Cyberhand Robotics has stated that there "should" be only 20 million shares in the BHUB shell float and that he "does not understand" how so many shares could be trading in BHUB since March 8 (when prior to March 8 the volume was "zero."). What we have discovered since is that the MMs most likely naked shorted BHUB to the tune of 1.3 billion shares and we intend to put the pressure on them to cover. The short position in BHUB was subsequently confirmed on the monthly Fail-to-Deliver list.
On Friday, March 23, the I-Hub Team continued the onslaught and brought the fight directly to the MMs. The MMs were forced to retreat and BHUB traded from .0006 and closed at HOD at .001. This was only accomplished because we have refuse to back down to the MMs and their nefarious shorting tactics.
As long as we continue to press the battle, we will hold the MMs accountable for their naked shorting of BHUB.
BHUB volume history from February 15, 2007:
2/15 - 0 volume
2/16 - 0 volume
2/20 - 0 volume
2/21 - 0 volume
2/22 - 0 volume
2/23 - 0 volume
2/26 - 2,121,000 volume
2/27 - 5,000 volume
2/28 - 0 volume
03/01 - 1,000,000 volume
03/02 - 0 volume
03/05 - 0 volume
03/06 - 0 volume
03/08 - 1,338,465,590 volume
03/09 - 511,646,620 volume
03/12 - 460,394,465 volume
03/13 - 265,925,305 volume
03/14 - 221,523,232 volume
03/15 - 56,159,866 volume
03/16 - 44,636,832 volume
03/19 - 247,406,643 volume
03/20 - 238,358,891 volume
03/21 - 204,068,488 volume
03/22 - 212,349,125 volume
03/23 - 333,675,509 volume - we bring the battle to the MMs and the MMs retreated
We must continue the battle this upcoming week. If we stand together and strong, we will turn BHUB into the play of 2007.
Posts: 249 | From: PA | Registered: Feb 2006
| IP: Logged |
posted
I loaded up on this a coupla years ago at .0001 as a clean shell. Convinced it was going nowhere I dumped it for same price last summer. Now I'm back in for a few million shares at .0004 Closed at .001 Friday. So far so good. I'm holding onto this one. Could be the next LFZA. "To Infinity!....and Beyoooooooooond!
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
| IP: Logged |
posted
I wish I could collect shells on my own stretch of sand on some tropical island somewhere paid for with the money I made on pennys. Oh lord, there I go dreaming again.
posted
BHUB may be the next big runner. Got's to break .001 or it's gonna retrace.
Posts: 101 | From: Mansfield, TX | Registered: Jul 2006
| IP: Logged |
posted
If it does retrace I might pick up some more. Haven't decided yet. All depends on how much she pulls back. I've always been a little leary of these hot stocks in the news that you simply "must buy". And this one is hot and really in the news. No PR since late '05. Many are holding onto millions of shares of this thing - myself included. With all the buzz this is getting any PR re: a R/M would send this into the stratosphere and make a lot of us very rich almost overnight. Even the infamous "letter of intent" would do nicely at this point. ANY news would be better than no news. Let's hear something - anything.
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
| IP: Logged |
posted
So I might wait until after the retrace on this. If it gaps up tomorrow morning, then it will definitely retrace at some point. I'll decide with the dust settles. (Thanks phone_man)
posted
The pumpers at ihub said that .0008 was the point to break through and we would be TO DA MOOOOONNNNNN!!!! Now you are telling me that we have to get through .001? Will we be TO DA MOOOOONNNN then? Just wondering. TMAN... PS Just kiddin too lol.
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
| IP: Logged |
posted
Man I know this is far fetch, but for once I wish all traders could stick together for once when there is a short squeeze in play to see this price go even higher before profit taking!!. L2s show after .0015 , .0025s are next Posts: 251 | From: nashville | Registered: Jan 2007
| IP: Logged |
posted
Profit taking accounts for the momentary hiccup in price action. However, there is a definite upward trend in motion and this is going higher. I got in at .0004 and I'm hangin in there.
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
| IP: Logged |
posted
With respect to the above poster re: low float. It was said this has a float +/- 50M shares. If so, where are the 100's of millions shares being traded coming from? Dilution? MM's covering their a$$ in a short squeeze? Uncovered shares? Just wondering.
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
| IP: Logged |
posted
I like this one. Its going up and up. No reason why so somebody must know something or just a bunch of newb traders like myself buying. Either way its going up.
-------------------- ah poop. Posts: 186 | From: Washington | Registered: Feb 2007
| IP: Logged |
posted
It looks like alot of people are afraid to just flip this one because its going up still for unknown reasons...besides the rumors and speculation about the R/M and 30M O/S
Was looking at some posts on IHUB.
-------------------- ah poop. Posts: 186 | From: Washington | Registered: Feb 2007
| IP: Logged |
posted
I canceled my sell...moved it to .003.... then hold free shares... this is too strong.....my guess is close around .003
Posts: 360 | From: black hawk , colorado | Registered: Dec 2005
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Big Grin]](biggrin.gif)
![[Eek!]](eek.gif)
Well worth holding a lotto ticket on...IMO...P.S. Good to see a nice close.
![[Mad]](mad.gif)
![[Cool]](cool.gif)
