To all posters:
The post I am replying to contains the most laughable statement to date on this issue. I can tell you my job is not on the line for this or any other issue, much less my life.
But seriously folks......
I do not know who Riley is. He tells us he's an actor, of which I have no doubt. He claims to be a retired (but stays up later than any retiree I know) New York city policeman (which is not always beyond reproach).
He claims to have knowledge of a large short position, but cannot come up with any hard evidence, except for a small piece above his "list" of shareholders (which is also a big secret Wink Wink). I have repeatedly asked him for details, and he comes up with none. All I get in return is more lectures on the evils of short sellers.
I have posted and will reiterate, this type of effort is commendable and the time for the undeclared short sellers to meet their financial makers is long overdue.
What puzzles me is that Riley insists that all investors take physical delivery of their certificates. Simply moving your stock from your margin accounts into a cash account will accomplish EXACTLY the same thing. Stocks in cash accounts cannot be borrowed, PERIOD. Surely Riley, who claims to be protecting you, must be aware that you would be placed at a disadvantage if your certificates are in the mail, or lost. You have true liquidity by leaving the stock with you broker, and let him worry about the certificate's validity and transferabilty.
Is he really giving you good advice? Not at all.
I will take Riley at his word when he says he has more than 20,000 shares. I'm willing to bet it's a lot more. I'm also willing to bet they were bought at much lower prices. And if he gets you all to bid up the price, who is the big winner? I'm also willing to bet the smart money has already been made on this.
Truly great short squeezes have decent companies underlying the effort. What always amazes me is that people are willing to spent hours and hours reading thousands of posts, but don't read the financials. In this issue, even a layman can get a good idea about the financial shape this company is in.
sec.gov
There are Quarterly reports as well on the SEC homepages. But what they say is that the company cannot account for the history of much of it's business, there is enough red ink to fill the Grand Canyon, the reverse splits of the past have killed investors, they'd have trouble coming up with the money to initiate a 1000 share buyback, and they warn of the posibility of ceasing to continue as a going concern.
I'd be all for Riley's effort if it were for a better company, or at least one who doesn't already have one foot in Chapter something.
Yet Riley, who posts on not other threads to speak of, except to hype his enterprize, has an E-Mail address especially tailored to OVIS, and appears to have little knowledge of the mechanics of the markets, continues to ask for your trust. He seems to have an interest only in this stock. HMMM.
If I were an untrusting soul, I might think Riley may just be one of those evil MM's himself and asking you to pay "any price" and not sell (Wink Wink) until it hit (Wink Wink) $20. Who is going to pay $20 for this company? That's a $50 million for this company. Come on. And then, who decides when the Cartel is allowed to sell. Come on. Who are you going to sell the stock to? Get real.
The undeclared short sellers have put up no margin. They don't have to cover. And they won't cover at "any price" because the fundamentals will still win out. The company has only told us about their plans. Riley probably hasn't told all of us about his. This could amount to a nice lump sum distribution for his retirement. Who's money is he really going to put in his pocket?
Be very, very, very careful. |
