Remember,at first, a squeeze was being suggested;
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To: Jaime J. Pulaski (3760 )
From: michael d kugler Friday, Apr 11 1997 7:03PM ET
Reply # of 7544
Jaime,
I have mostly lurked on this thread. I posted a response to the
gentleman looking to borrow shares. He never E-Mailed me. I also invited
him to explain his reason for wanting to borrow shares. He didn't.
I think all of you are correct in trying to take your shares off the
table. IMHO, the only reason someone would resort to coming on this
thread to solicit shares is that the shares he has put up to cover a
short are not going to be valid. Therefore he needs some other shares.
Yet he seems confident about his nine month time frame.
Most brokerages, especially Merrill Lynch, are unlikely to let an
individual have a naked short position in a penny stock. They may give
him some aditional time to round up the shares, but eventually may force
him to cover if no shares can be found. They won't give him nine months,
however. I believe he would have a matter of a few weeks grace at most.
The possibility of a major short squeeze here appears real. But with the
uncertainty of undisclosed assets etc, it could be a tough call. I'm
content to wait a bit until the dust settles. But this is worth watching
closely IHMO<<<<<<<<<
Remeber, Tonto claims to have 70K long in GIFS...
Then!....something happened, Mike changed his mind;
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To: Carl Pergler (4286 )
From: michael d kugler Friday, Apr 18 1997 1:08AM ET
Reply # of 7544
Carl,
I have been reading the posts and it appears as though something smells
very badly here. I would not own a stock in a company who is acting as
their own transfer agent. I am surprised to hear about somebody
purchasing stock from a transfer agent. I do not think that is possible.
Transfer agents are not broker dealers, they are paper handlers.
There seems to be a lack of any company response to many concerns,
including the dividend.
As to the lawsuit, it could be frivolous, but I'll check it out. It is
interesting to hear about potential criminal records for management.
Inasmuch as it is not verified, I won't comment. A call to the SEC might
give us some insight here.
Instead of posting, I would suggest all posters beat the bushes on the
internet for information. It's a great tool for everybody. Certainly
there are some great techno-geeks among the cybergeckos here.
If your gut says sell...sell. If it says stay....verify. This is not the
time to be sitting idly by, simply reading the wildly conflicting
stories on this thread.<<<<<
A co. that warranted a 70K long position, is now looking suspect!
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To: Carl Pergler (4194 )
From: Mark Rutheiser Thursday, Apr 17 1997 2:32PM ET
Reply # of 7544
They claimed that the transfer agent was making life too easy for the
shorters.
Also, this reminds me of another stock that I own, RICA. Last year a
whole bunch of stuff came out from some parties that the CEO was a
convicted felon and that the company was a scam. The stock took a little
dive and then recovered to new highs as the Company showed the
allegations to be false.
I sure hope that GIFS is in the same boat. I await their response.<<<<
if the allegations are false, as in RMIL, the illegal shorters can get into some trouble, huh?
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To: Jeff Silverman (4295 )
From: Steve Brandt Friday, Apr 18 1997 2:03AM ET
Reply # of 7544
OK so does that mean they never have to cover the shorts since they were
not real shares that were sold to begin with? To bad they could drive
the price down selling them but now they don't have to drive the price
up by buying them? Oh well such is life sometimes. Are the people that
did the illigal shorting going to be let off the hook now.
I'll bet they're relieved if thats the case<<<<<
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To: GJC (3417 )
From: greg martz Friday, Apr 4 1997 4:42PM ET
Reply # of 7544
Originally the short information came from Jeff, I am not sure
how he got it but he has been investing in stocks for a long
time and has a lot of connections and I fully trust his insight.
I then expanded on it with Mike R. to find out what there take
on this was, he stated that what they had learned from what they
believe are pretty reliable sources that the short does exist.
The people who shorted these 1mil+ shares believed that they were
going to sneak them by Genesis and get them registered. They have
tried to pass them through a number of times. They have not excepted
Genesis offer to go before a judge so within the next 10 days Genesis
is going to force the issue. I don't know if that means that they
will go before a judge in 10 days or they will be served papers in
some fasion.
As for the squeeze, my believe is if everybody called in their shares
we might be able to make it happen to a certain extent but realistically
I don't think that everybody who responed to Jeff will
request their certs. The real squeeze will happen when the news starts
coming out and new investors come in. All the shares that have been
called in will be off the computers so there will be less shares out
there to hide such a large short in, it is then that somebody is going
to have start covering these shares. I have been told that the magic
number is a little less than 2 and if when the stocks goes up it breaks
past that and holds for a couple of days they will start covering. So we
will soon see.
I have been noticing some attempts as of late on different boards to
bash Genesis. Why all of sudden within a few weeks of big news? Why
all of sudden people like JPatrick coming out to offer .25 a share?
If this stock was really going nowhere why would anybody care a bring
this stuff up unless specifically asked. Look at stock-line out of
the blue someone has been posting negative things on Genesis no one
asked their thoughts. I believe this is one last feeble attempt to
keep investors away from the stock. The shorts no they are going to
lose otherwise they would have went to court a long time ago and got
their shares okayed instead of complaining on the this thread. Just
my opinions you think about it and decide for yourself<<<<
Pugs |
