Ahhhhhh! Poor Quadrax! Long post, please read!
Let me tell you about my adventure with another company. I heard about it on line and it was cheap. Lots of potential tho. This company was selling at .25 on the NASDQ so I didn't have to make out the notorized forms that my broker requires. It was doing over 1 million shares per day. The trading range was 1/16 so if you bought enough shares...5000 or more you could buy at the bid and sell at the ask and make some small change. BUT...to do that you had to wait in line to sell at the ask. It was trading over 1 mil per day so that seemed possible. It was staying steady at 1/4-5/16 for months. And the volumn was steady too. So I bought 5000 shares to try it out. With commissions at a full service broker I would only make a couple of hundred per transaction but that was ok with me. My broker executes and calls me back within a couple of minutes and I know what I do is a done deal. Then when my sell order executes he calls me too. Sorry, I don't completely trust cyberspace yet. Anyway, I was waiting in line with my sell order at 5/16 and don't you know the volumn dried up. Then the price went down to 3/16-1/4. Bummer. I sat on this stock for 6 months+ waiting for it to go back up. During that 6 months, I found out a lot about the company. They sold ALL their assets to go into drilling for oil totally in China. They used to have income from some of their assets in Texas. So...no assets, a couple of proven wells, a contract with China to drill oil. China gets 50% of all oil taken out of the ground, this company splits the rest 50/50 with Apache. This company is XCL BTW. The saga continues. Most of the info about the company says that nothing will be produced until 1998, well I got into something else and sold at a loss of all of 300. No biggie. Two weeks later Apache and then XCL release press releases that they have found more oil. Course we all knew that there was oil where they were drilling. BUT, now XCL is trading at 5/8+. Still haven't made a dime in revenue. China hasn't signed a contract that they can take the oil out of the ground and this company has 158 MILLION shares in the float. 500 million loan outstanding. No products. Just potential.
So what gives with Quadrax. They have lots of products. I've seen them. 1/3 of the shares outstanding of what XCL has and they have revenue. XCL has NO revenue. Quadrax is selling at 1x sales. XCL is selling at ?????1x0. 5/8x0
I'm not going to sue XCL because I lost money on their shares. I could have made a lot even at 5/8. A lot for me that is. I just don't understand.
Maybe Mr. Evans got fired because he was in league with Mr. Dorf. Have anyone of you called Alon?
OK, now the wine is talking....I also don't understand all the crybabies on this thread. Sure, I'm dissapointed with the way the stock has acted. Just like all of you. But when someone says do your DD and I call the IR and he says that the TM deal is still in the works and progressing nicely...who do I believe? The person recently fired or the person who is supposed to talk to investors? I saw the products. I'm not a sports person but I liked them.
So, poor Quadrax...has revenue but can't get their stock price higher than a company with 500million in debt and no products and 2/3 higher float.
so slam me.
ginger/block island's cavewoman |
