quote:Originally posted by PCola77: Guess I am the only one cashing in on this possible screw up. At HOD of .0014 right now.
Your guess could be right LOL I'm out for now - traders (mostly) were today on this one - think we'll see some "short numbers" from Co in coming PRs and fun will begin again
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I don't like the way they did that but I made money . I bought at .0005 and sold at .0010 & .0014 .
For a few hundred gain { Made my mortgage payment } .
I just don't like the way paim did this to people . Taking shares off the market makes the shares left more valuable { thus pps just went up } . And now they can dump more on the market at higher price . They did it last year .Great for company and good for a tiny bit of cash to those of us knowing how to ride paim . But now I am out again . I feel freeeee .
Except I still have 45 BILLION prefered shares from paim debochery last year .
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quote:Originally posted by PCola77: Guess I am the only one cashing in on this possible screw up. At HOD of .0014 right now.
Which broker let you buy? Neither AMTD nor Choicetrade let me in yesterday. And the only reason I even have Choicetrade is they never block buys! But they did this one.
-------------------- Me Trade Pretty One Day.
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quote:Originally posted by PCola77: Tex, that was my original thought as well, but then I thought about it this way. Let me know what you think:
This is essentially a reverse split plus a cash dividend. Say you had 10 milion shares, after this "buyback" you have 500,000 shares, and $190. This is the equivalent of doing a 1:20 R/S and then a .00038 cash dividend. The reason that I now think this is totally legal is that the company "thinks" that all they are doing is redecing the float, and thereby increasing the value of each remaining share (with a wink, wink, nudge, nudge, since we all know they're probably planning to dump shares agin). Basically if doing a reverse split is legal, even in a case like Raven Moon, because the price increases proportionately and is thus not negatively effecting shareholders (again, wink, wink, nudge, nudge), then I don't see why this wouldn't be considered okay.
Whaddya think? Am I just rationalizing because I bought some?
quote:Originally posted by T e x: NITE quit handling it, as I understand it. May well affect liquidity...
I think it's illegal, anyway. Wouldn't surprise me one bit to see it get whacked...
no...lol, I don't believe it's OK: is neither fish nor fowl...ie, not a divvy, not a tender offer. Company removes "meaning" from free market. On the other hand...you made a good trade out of it, so more power to you, brudder!
PS: maybe authorities do nothing cuz they figger Pearl paid more than they're worth...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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posted
I'm not sure I want to touch paim anymore .
I am still sitting on my mountain of prefered shares . I wonder if paim keeps playing around with the 95 % ripoffs { I mean buybacks } .... if that will evenually stabilize pps at a higher price and I can trade my paper certs { prefered } for THE NEW COMMON shares at the higher price .
The trade scale paim came out with years ago started at 10,000 prefered for 1 common . But if you wait the full 5 years it's 500 prefered for 1 common .
With my 45 billion prefered and if paim keeps pulling these bizare backwards reverse split stunts ... could they actually be doing a strange thing that will make my prefered like gold .
If that is the case then gooooooo paim .
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Oh I don't mean to say tht it's "OK" morally or anythign, just that I'm now doubtful that it's illegal, is all.
And don't jinx me. It's not a good trade until I sell the rest. Right now it's a break even proposition if the rest of my shares become worthless for some reason.
quote:Originally posted by T e x:
quote:Originally posted by PCola77: Tex, that was my original thought as well, but then I thought about it this way. Let me know what you think:
This is essentially a reverse split plus a cash dividend. Say you had 10 milion shares, after this "buyback" you have 500,000 shares, and $190. This is the equivalent of doing a 1:20 R/S and then a .00038 cash dividend. The reason that I now think this is totally legal is that the company "thinks" that all they are doing is redecing the float, and thereby increasing the value of each remaining share (with a wink, wink, nudge, nudge, since we all know they're probably planning to dump shares agin). Basically if doing a reverse split is legal, even in a case like Raven Moon, because the price increases proportionately and is thus not negatively effecting shareholders (again, wink, wink, nudge, nudge), then I don't see why this wouldn't be considered okay.
Whaddya think? Am I just rationalizing because I bought some?
quote:Originally posted by T e x: NITE quit handling it, as I understand it. May well affect liquidity...
I think it's illegal, anyway. Wouldn't surprise me one bit to see it get whacked...
no...lol, I don't believe it's OK: is neither fish nor fowl...ie, not a divvy, not a tender offer. Company removes "meaning" from free market. On the other hand...you made a good trade out of it, so more power to you, brudder!
PS: maybe authorities do nothing cuz they figger Pearl paid more than they're worth...
posted
Wow. Hit .0055 today? I'm out of the office today for my sister's wedding tomorrow and missed that huge spike. Guess I shoulda had a sell order in theer somewhere...
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Wonder if Pearl is starting to sell back into the market some of the 95% of the shares that they legaly STOLE from investors? What a bunch of B.S.
-------------------- If ignorance is bliss, why aren't more people happy?
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Etrade lets you when you call. I had bought earlier this week and sold today. I real pain in the butt on the phone cuz it takes forever. I thought the price would go back down by the time we were finished.
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Well the price really went up so I called and made sure my sell order was going thru . It did . Made some real gain here but I still don't like what they have done .
It seems they never have to worry about making money from gold mining ..... Because they found a better way .. Hold a buy back every year . This is twice they have done this now . Well ..... I made money so I guess it's alright . But it still stinks of falcon crap .
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quote:Originally posted by PCola77: Guess I am the only one cashing in on this possible screw up. At HOD of .0014 right now.
Which broker let you buy? Neither AMTD nor Choicetrade let me in yesterday. And the only reason I even have Choicetrade is they never block buys! But they did this one.
OC SECURITIES DONT RESTRICT ANYTHING..
Also they let you short PinkSheet or BB stocks over $3...I know many that shorted RCAU above $3 and look where it is now!!!
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Holy sh*t!!! BID is .006 and ask is .01 right now. that would be a nice 50% gap even if it opens on the bid. would be up 1500% since I bought, or 2500% if it hits the .01 ask...
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Be careful Pcola ... The company is probably watching price and getting ready to unload a butload of the stolen shares they took and make a ton { sending price skyrocketing down till next year when they do this again .
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trio, here's te problem that I have with your statment (only singling you out because you just said it, but it applies to anyone). If you bought a million shares at .0002, you paid $200. You got .00002 per share for 950,000 shares, or $19, and your other 50,000 shares are each now worth .004, or $200. Seems like this is exactly where the price was SUPPOSED to adjust to. So no stealing of shares occured, it was just a goofy way to do a reverse split. And I agree, the whole pit of the "buyback/split" is to dump more shares, same as all of these pinkies. I made like $6,000 on this one so far, and am holding 500,000 still that are pure profit, which I'll probably cash out of tomorrow.
I do appreciate the word of caution, but this one played out exactly like I expected. The only reason I am still holding any shares is on the off chance some people have to buy back shares they sold that weren't "theirs". I think that probably happened today at the open, but I was kind of a deer in headlights at that point.
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prefered shares from paim debochery last year .
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still not letting buys
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