posted
Ahhhhh, that explains it. Sherri, were you thinking the same thing yesterday when you were saying there's an extra day? I was totally confused
quote:Originally posted by bilgert: I can't tell time PCola- thought Monday was the 3rd, lol... Good thing I looked at my calendar. Woulda paid my rent late. So I won't be able to buy- ah well.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
[QUOTE]Originally posted by PCola77: [QB] Interesting, so if you bought, say, a baseball card for $7 and I told you it was worth $3300, you'd be happy to walk away with $700 for it?
Very big difference between a baseball card and a pink sheet stock. A baseball card won't lose its value in 30 seconds. But a pink sheet will.
I could only have made $900.00 more. Thats a far cry from $3300.00 Dont you think.
Posts: 1343 | From: Rome Georgia | Registered: Oct 2004
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posted
Jonus, NWMO is dually quoted... but, hey, I don't think is "blaming" you, lol... I take PC's post as rhetorical...
True, *somehow* it got whacked down from the 300x adjustment ( bid was 25+ and ask was 30 + ... can't remember offhand, 32? 33 + ? ) but do we know if it was, say, a newb/market order? or a rogue MM...
Point is, on that *particular* play... many trades were going off well above bid, and even above ask...
Some of the "details" actually do matter...
Anyway, it's completely understandable to grab $7-->$700
****
On a different note...this is one reason I don't post about these plays usually--imo, they're not for "general consumption."
quote:Originally posted by PCola77: Ahhhhh, that explains it. Sherri, were you thinking the same thing yesterday when you were saying there's an extra day? I was totally confused
quote:Originally posted by bilgert: I can't tell time PCola- thought Monday was the 3rd, lol... Good thing I looked at my calendar. Woulda paid my rent late. So I won't be able to buy- ah well.
Not a clue what I was thinking honestly - just trying to make a silly buck or two ;-)
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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posted
If I remember, I'll try to post some more detail on Tuesday since I have a big project due tomorrow at work, but basically the point is this (I'm making numbers up at this point, but will try to explain more factually Tuesday or later).
MNCP or whatever was trading at about .08 steadily and with decent volume over some time before the split was announced. therefore you could conclude that it was properly valued around there. which means after a R/S of 1:300, it's "proper value" would be about $24 per share. I would not be surprised if it gets back there once people are done selling their 100 share blocks. If there was any reason that it would drop to $7.00 per share BESIDES people bidwhacking, (like dilution or some news) then by all means take what you can get. But in a case like this where the stock seemed to have been correctly valued, you're doing yourself a disservice by selling for essentially a 65%+ discount to "value".
In addition, and maybe you don't care about stuff like this, but I think we all should do this more than most do, you're hurting everyone else by bidwhacking to that kind of extreme. Every time someone like you sells at that kind of discount, someone else gets more nervous and is more likely to follow suit.
Every situation is different, but this kind of thing is why many people who are aware of these don't post about them, because people who don't quite understand it can ruin it for others.
I hope you don't take this as an insult but an opportunity to learn.
Take care.
quote:Originally posted by Jonus: [QUOTE]Originally posted by PCola77: [QB] Interesting, so if you bought, say, a baseball card for $7 and I told you it was worth $3300, you'd be happy to walk away with $700 for it?
Very big difference between a baseball card and a pink sheet stock. A baseball card won't lose its value in 30 seconds. But a pink sheet will.
I could only have made $900.00 more. Thats a far cry from $3300.00 Dont you think.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Another reason I don't say much is they can be aggravating and require more work than a "normal" trade...or, as mentioned, the company somehow gets away with renenging... I personally like the risk/reward on these, but I wouldn't want anybody--especially a newb--thinking they had guaranteed, "free money," so to speak...
posted
Right Tex, and like I said, they can take a month or two (or 9 like PAVC, I think) and people can easily get frustrated/mad and blame people for getting their money tied up, etc. As with any trading, my advice is to watch a few, try to learn them, and THEN start trading them if you think it's worth it. Jumping in with both feet before understanding something is often a recipe for failure.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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quote:Originally posted by PCola77: If I remember, I'll try to post some more detail on Tuesday since I have a big project due tomorrow at work, but basically the point is this (I'm making numbers up at this point, but will try to explain more factually Tuesday or later).
MNCP or whatever was trading at about .08 steadily and with decent volume over some time before the split was announced. therefore you could conclude that it was properly valued around there. which means after a R/S of 1:300, it's "proper value" would be about $24 per share. I would not be surprised if it gets back there once people are done selling their 100 share blocks. If there was any reason that it would drop to $7.00 per share BESIDES people bidwhacking, (like dilution or some news) then by all means take what you can get. But in a case like this where the stock seemed to have been correctly valued, you're doing yourself a disservice by selling for essentially a 65%+ discount to "value".
In addition, and maybe you don't care about stuff like this, but I think we all should do this more than most do, you're hurting everyone else by bidwhacking to that kind of extreme. Every time someone like you sells at that kind of discount, someone else gets more nervous and is more likely to follow suit.
Every situation is different, but this kind of thing is why many people who are aware of these don't post about them, because people who don't quite understand it can ruin it for others.
I hope you don't take this as an insult but an opportunity to learn.
Take care.
quote:Originally posted by Jonus: [QUOTE]Originally posted by PCola77: [QB] Interesting, so if you bought, say, a baseball card for $7 and I told you it was worth $3300, you'd be happy to walk away with $700 for it?
Very big difference between a baseball card and a pink sheet stock. A baseball card won't lose its value in 30 seconds. But a pink sheet will.
I could only have made $900.00 more. Thats a far cry from $3300.00 Dont you think.
A measly little 100 shares that I sold on bid did not tank this. I remember explictly where the mm's were sitting when I sold .07/.08 3x2
I sold on bid so what. Thats a 100 bagger. Who knew where it would go. Could have just as easy when the other way down to nothing.
I had a similar experience with Dark Dynamite about 3 or 4 years ago. I held after r/s . The first week I could have sold for like 28 cents or so. But I did not kept thinking it would go higher well guess what it was a great big tankeroo.
So the profit I did not take turned into a bag for me which I continued to hold until Richard Surber and his peeps reverse split again. Totally worthless.
So if you want to learn something. Learn how to take your green.
Posts: 1343 | From: Rome Georgia | Registered: Oct 2004
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posted
Ok, I think PCola and Jonus have valid points. But the bottom line in OTCBB land is "profit is profit", given its inherent volatility. So you did okay by me Jonus. I don't think you selling 100 shares at the bid will affect the overall value of NWMO. Seems sort of ridiculous to think that it did.
As far as "proper value", it's difficult to say what that is exactly without looking at NWMO's financials. MPNC was a shell, so even though it was trading relatively steady prior to its reverse split, the true value of the company had not been determined at that time. The PPS could have (and probably was) increased by the number of shareholders looking to take advantage of the round up. If you only had to buy 1 share, then hell- who cares; I'd have paid a $1.00 for it... So that's sort of a flawed argument.
Look at these 2 companies below that had recent r/s- special round up provisions with vastly different post split performances.
UNTF (now WUHN): If they had kept their pre-split value (which was very steady) would be trading at $22/share, but now it's at 4. It was a shell with very little value pre-merger.
HQSB (now HQS): They reverse split their shares with the special provision in an attempt to reduce the number of shares and increase the number of shareholders- this would allowed the company to more easily uplist to AMEX. Now I made a mistake on this one. I sold early and had I been more patient I could have doubled my return- but ultimately, I'm happy with what I did.
The point is- you can't criticize someone for taking profits, and you have to look at each case individually. It pays to do your DD on each situation.
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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posted
I'll just leave it at this and be done with this thread. One measly hundred shares does not tank this, but if I recall correctly, it was only a few people (I think less than 20) thinking their 100 measly shares wouldn't tank this, and I'll be damned if it didn't. If your attitude is "I got mine, who cares what happens to everyone else" then so be it, we'll just agree to disagree about where that type of thinking will get you.
Good luck to you, regardless.
quote:Originally posted by Jonus: A measly little 100 shares that I sold on bid did not tank this. I remember explictly where the mm's were sitting when I sold .07/.08 3x2
I sold on bid so what. Thats a 100 bagger. Who knew where it would go. Could have just as easy when the other way down to nothing.
I had a similar experience with Dark Dynamite about 3 or 4 years ago. I held after r/s . The first week I could have sold for like 28 cents or so. But I did not kept thinking it would go higher well guess what it was a great big tankeroo.
So the profit I did not take turned into a bag for me which I continued to hold until Richard Surber and his peeps reverse split again. Totally worthless.
So if you want to learn something. Learn how to take your green.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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* The float of this stock is only 2M shares. Why R/S? * The average daily trading $volume is only $500. * You may not get your dividend until several weeks later, by the time you get them, the pps will tank to 0.01 again. * For the next few weeks, only the ceo and the MMs get the shares to sell. * This scam is completely legal, but most investors don't consider the supply/demand can drive pps up and down. If you could get in at 0.002, it's a great deal, but not at 0.18, that's 90X too much. *This scam got 1600 investors trapped, based on a msg at Ihub.
quote:Originally posted by JimSC: 500X? This is another scam of the ceo.
Facts:
* The float of this stock is only 2M shares. Why R/S? * The average daily trading $volume is only $500. * You may not get your dividend until several weeks later, by the time you get them, the pps will tank to 0.01 again. * For the next few weeks, only the ceo and the MMs get the shares to sell. * This scam is completely legal, but most investors don't consider the supply/demand can drive pps up and down. If you could get in at 0.002, it's a great deal, but not at 0.18, that's 90X too much. *This scam got 1600 investors trapped, based on a msg at Ihub.
MCII Mariner's Choice International Inc. Announces Clarification of Status Wines of Tuscany, Inc. Consolidation of Shares
JACKSONVILLE, Fla., Jun 11, 2007 (*********wire via COMTEX) -- Mariner's Choice International Inc. (Pink Sheets:MCII) announced today that the Company and its investor relations firm have received a number of emails and telephone calls regarding the consolidation of Status Wines of Tuscany (Other OTC:SWNE) common stock convertible into Mariner's Choice International, Inc.
Be advised, as previously stated, that the shareholders of SWNE ratified by majority approval at its annual shareholders meeting held May 7, 2007, the reverse split ratio of 500:1 of SWNE issued and outstanding common shares held as of March 19, 2007.
This result in as follows:
For every five hundred (500) shares of SWNE held pre-split, the beneficial holder now is entitled to one (1) post-split new share, however, the minimum number of shares that a pre-split shareholder will receive is rounded up to 500 shares, such that no shareholder shall receive a fractional share less then one share. In other words, all shareholders shall receive, at the minimum, one (1) post-split share. For example, a shareholder holding 250 pre-split shares would, without this formula, receive 1/2 share of Mariner's Choice International, Inc. common stock. Under this formula, this shareholder would receive one (1) share of Mariner's Choice International, Inc. common stock.
Only shareholders of SWNE holding SWNE pre-split shares of record, as of March 19, 2007, are entitled to the round up of fractional shares. Individual shareholders or broker-dealer participants acting on behalf of beneficial NOBO holders of SWNE who are entitled to receive the roundup of fractional shares must submit their old shares of SWNE in exchange to receive the new shares of Mariner's. The tender in exchange of pre-split SWNE shares to receive the post-split new shares of Mariner's is mandatory.
In addition to the consolidation of the SWNE shares, a majority shareholders ratified the action of directors approving the merger between Status Wines and Mariner's Choice, and the election of new management and board of directors.
Safe Harbor:
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding of discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intent to" and similar conditional expressions are intended to identity forward-looking statements within the meaning of the Act and are subject to the safe harbour created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks in the company's SEC reports and filings.
SOURCE: Mariner's Choice International Inc. Investment Strategies Jeremy Hunt, Corporate Consultant jhunt*invstragies.com Luke Short, Corporate Consultant lshort*invstrategies.com 304-523-3980
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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posted
Figured that would happen, this one was getting a lot of notoriety, and it's a pink, so no one can hold them to it, oh well, glad I only bought 1 share...
Posts: 2741 | From: Seattle | Registered: Feb 2005
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