posted
Yep, best good news in a while. Better than the $39M contract. This will reverse the low pps cause by dilution. -------------------------------------
Extreme Motorsports of California, Inc. Initiates Stock Repurchase Program, Prepares to Close Out 504 Offering Thursday June 7, 9:52 am ET
BAKERSFIELD, CA--(MARKET WIRE)--Jun 7, 2007 -- Extreme Motorsports of California, Inc. (Other OTC:ETMO.PK - News) ("Extreme" or the "Company") has initiated a stock buyback program contributing up to 2% of profits on a quarterly basis to purchase free trade shares in the open market. The repurchased shares will be cancelled and retired, resulting in a reduction of the total issued and outstanding shares of the Company, and not retained as treasury stock. The Company has not placed a cap on the aggregate value of shares to be repurchased and intends to continue the program for the foreseeable future until such time as management and the board of directors determines the number of issued and outstanding shares have been sufficiently reduced.
"We believe the quoted price per share of Extreme's common stock is not an accurate metric of our value, as the recent announcement of a new distributor and contract shows," commented Alan McCaa, President and CEO of Extreme Motorsports. "Our profit margins on these and other future projects are sufficient to both fund the buyback program and our strategic growth plans, such as expansion of our manufacturing facility and the hiring, training and retention of key staff to ensure the quality standards customers have come to expect from Extreme."
In addition to the stock buyback, Extreme is preparing the necessary SEC and state filings to close out its sale of securities to accredited investors that were exempt from registration under Rule 504 of Regulation D under the Securities Act of 1933. To date, the Company has sold approximately $450,000 of its securities under Rule 504.
"We have sold a limited number of securities under our 504 offering since February (of 2007)," McCaa commented. "We now have cash flow from operations that will sustain our business and growth plans for the short and long term. It's also clear that any substantial fundraising conducted at the present time would be prohibitively dilutive, and counteractive to our stock buyback program."
In addition to the above announcements, the Company has also received an additional 47 million shares under its previously announced share cancellation program that have been retired, representing a reduction in the current "public float" of approximately 5%.
About Extreme Motorsports of California, Inc.
Extreme Motorsports of California, Inc., operating under the trade name "Xtreme Motorsports," is a manufacturer of custom and production-line sandrails, desert and dual sport racecars. Founded in 1983, Extreme's sandcars have been sold to customers in England, the United Arab Emirates, Australia, South America and the US. For more information, visit the corporate web site www.xmssandcars.com.
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Time & Sales Price Size Exch Time 0.0007 1000000 OTO 11:22:34 0.0007 1000000 OTO 11:22:34 0.0007 199999 OTO 11:19:26 0.0007 800000 OTO 11:19:26 0.0007 500000 OTO 11:14:25 0.0007 350000 OTO 11:11:35 0.0007 2000000 OTO 11:11:18 0.0007 2000000 OTO 11:11:17 0.0007 5000000 OTO 11:11:13 0.0007 850000 OTO 11:09:59 0.0007 1000000 OTO 11:09:59 0.0007 714285 OTO 11:05:27 0.0007 2000000 OTO 11:05:27 0.0007 3000000 OTO 11:05:27 0.0007 100000 OTO 11:03:01 0.0007 500000 OTO 11:00:27 0.0007 500000 OTO 11:00:27 0.0007 163333 OTO 10
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posted
With over 400M shares traded and good news out, this thing should be up in the .001x range. I wonder if they may be diluting. I don't think anyone would be dumping at these low levels.
posted
Could be, but I doubt the ceo will sell at this pps. *** Posted by: vlftraders In reply to: vlftraders who wrote msg# 22012 Date:6/7/2007 2:47:26 PM Post #of 22102
RePost from VLF.........
Several Great Timing things about...
to take place...
Selling will stop soon, especially with this kind of Volume.
504 Closing with Stop soon to be announced...
Alan has another $10-12M in deals in the works which will be announced in the next week or two IMO...
Friday June 8th, for those partial to the 13 Day scenario.
Covering and a Short Run, although small is approaching...
Divvy News anytime Now...
Needles to say, alot to look forward to this week into next...
posted
This baby's going no where but up, up, up. Now printing: .0009 x .001 --------------------------------------------
Extreme Motorsports of California, Inc. (ETMO) SqueezeTrigger Price is $0.0037. Approximately 279.9 Million Shares Shorted Since September 2006 According to ********** Research Report Monday June 11, 1:47 pm ET
BAKERSFIELD, CA--(MARKET WIRE)--Jun 11, 2007 -- Extreme Motorsports of California, Inc. (Other OTC:ETMO.PK - News) announced today that **********, www.**********, is initiating coverage of Extreme Motorsports of California after releasing the latest short sale data to June 2007. From September 2006 to June 2007 approximately 3.6 billion total aggregate shares of ETMO have traded for a total dollar value of nearly $13.3 million. The total aggregate number of shares shorted in this time period is approximately 279.9 million shares. The ETMO SqueezeTrigger price of $0.0037 is the volume weighted average short price of all short selling in ETMO. The first of several short squeezes is expected to begin when shares of ETMO close above $.0008, where approximately 62 million shares have been shorted. To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.**********.
Month Total Vol. Short Vol. Avg. Price Short $ Value ------------ ------------ ------------ ------------ ------------
September '06 871,728 67,123 $0.4300 $28,863 October 384,492 29,606 $0.1800 $5,329 November 2,586,923 199,193 $0.1200 $23,903 December 9,070,365 698,418 $0.0535 $37,365 January '07 28,699,086 2,209,830 $0.0102 $22,540 February 356,084,960 27,418,542 $0.0143 $392,085 March 771,139,328 59,377,728 $0.0046 $273,138 April 602,870,912 46,421,060 $0.0020 $92,842 May 1,056,046,208 81,315,558 $0.0012 $97,579 June 807,376,512 62,167,991 $0.0008 $49,734
* short volume is approximated using a proprietary algorithm. ** average short price is calculated using a volume weighted average short price. *** short volume is the total short trade volume and does not account for covers. About Extreme Motorsports of California, Inc.
Extreme Motorsports of California, Inc. operating under the trade name "Xtreme Motorsports," is a manufacturer of custom and production-line sandrails, desert and dual sport racecars. Founded in 1983, Extreme's sandcars have been sold to customers in England, the United Arab Emirates, Australia, South America and the US. For more information, visit the corporate web site www.xmssandcars.com.
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posted
Buy ins is full of it. Their "proprietary algorithm" has been repeatedly proven to be false. Besides, any big institutional short would laugh at the prospect of buying back less than $50K worth of stock on a "short squeeze". That's barely a "short sensual massage".
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posted
Rob, I don't like to get personal, but geez man, have you ever bought a winning stock? Seems like every thread you are on is one where you're telling people to just hold a little longer and it's sure to come back. Maybe I'll start calling you Samsonite, I think you have more bags than they do.
quote:Originally posted by TopRob: Trying to load up cheap again PCola? We'll see how it goes in the next few days.
posted
PCola, if all these are worthless bags, then why are you wasting your time trying to save everyone. If you have winning g picks, then shouldn't they be your main concern.
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posted
You may fully believe that I am "wasting my time", but I know for a fact that you are incorrect. Plenty of people have expressed gratitude for posting a contrary opinion that, if nothing else, gave them pause before entering into a stock on hype that would have lost them significant amounts of money.
I know it hurts you to hear, as you want everyone to buy into your bags to get the prices up, but there are some people out there that actually want others to do well, as opposed to wanting them to save you from your mistakes.
No, as long as I can still get a single person to think more thoroughly before they jump into one of these POS's, I'm not wasting my time, only yours, because you have to try to come up with some BS reply to try to make me look bad. Problem is, most people see right through you.
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posted
Weeeeeeeeeeeee, buy ins is crap, but it appears the selling has dried up! This is for sure a POS considering how it ran from 005 - 045 and now it's at 0009, but with the seller gone (hopefully for awhile) we'll see a nice little run up!
RSDS was a POS and people were down talking that, but in all fairness, it ran over 100%! Just make your money, get out, and don't look back!
Looking forward to the upcoming days!
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posted
PCola, you know just as well as I that most penny stocks are loosers. So you can bash stocks all day long and get about 90% correct because maybe 1 out of 10 will run then fall or maybe 1 out of 100 will actually do well. Everyone is here to take a chance on making a few bucks. So if you really want to impress people, tell everyone that 1 out of ten that will do well.
I'm not looking for that 1 out of 100 to do well long term, I just want that 1 out of 10 to run, then it can go back to the POS it was before.
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posted
OKay, deal. Next time I see one I want to get in I'll let you know. Just realize I don't take this very lightly, and have probably made no more than a dozen trades this year, so you may be waiting a while. But yeah, I have confidence that I can pick the winners as well as I steer clear of the losers.
quote:Originally posted by TopRob: PCola, you know just as well as I that most penny stocks are loosers. So you can bash stocks all day long and get about 90% correct because maybe 1 out of 10 will run then fall or maybe 1 out of 100 will actually do well. Everyone is here to take a chance on making a few bucks. So if you really want to impress people, tell everyone that 1 out of ten that will do well.
I'm not looking for that 1 out of 100 to do well long term, I just want that 1 out of 10 to run, then it can go back to the POS it was before.
quote:Originally posted by TopRob: Most likely MM trying to stop the run long enough to load up.
You got it right, TR. A few more days of consolidation may be needed, as the MMs need more shares to make a run. But the trend is up, and the chart looks good.
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posted
Many trades of 3 M or larger are among the MMs to cause a panics for weak hands. They intended to make an impression of dumping. This is the last chance they can shake out the shares at the bottom. Just hold your shares tightly.
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