Michael,
In your "unprofessional" experience, have you ever seen a stock which was halted by the SEC open to the upside? My comment was that I haven't. Have you?
I have no experience in stocks that have been halted and I have never implied that I have! Maybe if that's all you had said you wouldn't have had such a reaction to your post, as evidenced by it in it's entirety below! It appears to me as though it was intended to get people to sell their shares when it reopens! Many others feel the same way too!
I feel you used very poor judgement in ever posting it to begin with!
To: Kurt N (33945 )
From: michael d kugler Tuesday, Jan 6 1998 9:41PM EST
Reply # of 34043
Kurt, All posters, and lurkers.........................
Kurt, I've chosen to respond to your post primarily because, whatever regard you have for me, at the moment, is an irrelevant issue.
It is time to get very serious and decide what you want to do tomorrow, or in the near future.
You have all heard the story here. There is still the talk of the huge illegal, naked short position in this stock. No one seems to be able to find it, but the mythical Cavalry (who have chosen to have Riley represent them rather than direct representation on this thread) says it exists. There are all the sideline stories, whose supposed importance has only been used to decoy everyone away from the real issues here. And we have all heard about the $5 million and the financials, which are always right around the corner (or "a matter of minutes" as per the Casper story).
And you don't have to listen to me, but perhaps you should consider the business judgement of those who have made a decision about your fine company and chosen not to endorse in some cases, and not do business with in others.....Patrick Lanzillo (Palco), Carolyn Tedesco (Transecurities), Brad Herr (Attorney for Transecurities), Daniel Rodriguez (Mary's/Ladies Cutting Service), The Town of Ten Sleep Wyoming, Nelson Vidal (Nelson's/Barons), The United States Securities and Exchange Commission, Michael Burg (MVPH), The Free Trade Zone in Nicauagua (Zona Franca), and please believe me, there are others.
And for those of you who have never gone through this experience........
In my professional experience, I don't honestly think I have ever seen a stock open to the upside, the day a trading halt is lifted, but sometimes that is the best price you might see for a while. The rule 15C2-11 says anyone making a market in this stock must be reasonably assured that the financials are timely and accurate. Since no 10-K has been filed, I think you'll be hard pressed to find MM's who will do this. It is likely that if this trades on the BB, the bid/ask spread may be wider than you are used to. If it is relegated to the pink sheets, you will probably see the same phenomena there as well.
I can't and won't tell any of you to buy or sell. It is a decision you all have to make for yourselves. You need to decide whether or not this is truly risk capital, the kind you'd bet on a basketball game. The risk from here is about the same IMHO. Just add up the value of your shares, at the bid, and decide how much of it you are potentially prepared to lose. Take a step back, look at the facts, and make a cold financial decision.
Again, if this is your first experience in this type of stiuation, remember that part of making money is not losing very much. I routinely lose money buying stocks, but I try to win more than I lose. Nobody is right 100% of the time, and the most difficult part of investing, even with other people's money, is admitting when you're wrong. Pick a target to the upside and downside and stick to it.
I have tried to give you the facts, and by and large, my information has proved accurate. No one is contesting my information with any real degree of success. I have given you my sources and provided phone numbers for you to check them out for yourself. Some people here have done just that, and come up with the same answers.
Good Luck, whatever your decision. |
