I've held onto this stock for too long, and bought it in ignorance, when I don't know too much about stocks. Please excuse me for not knowing too many things. I have a few questions: 1) Where can I go to find out the latest news with what is happening with the company and the lawsuits? 2) When's the next big news going to be announced? 3) Is it worth keeping the shares I have left or just dumping them now? 4) Can I even trade these shares right now?
yeah yeah I did. but I just ask that you hold your replies till after 3pm. you see Im still in grade school and I wont be home until then. and no I dont have any after school activities... Im not very athletic so Im not on any teams... also I have no friends...
You will get lots of advice and even more criticism on this board from every person who thinks they are the next Warren Buffet. I am happy to share with you my thoughts, as I'm in the same boat as you.
1) Very little news out there at all. The company hasn't replied to any of my e-mail messages nor telephone messages. IR is missing in action, and that is a very bad sign.
2) They have already missed the quarterly earnings announcement and have apparently gone into hiding. Another really bad sign. If they were a legitimate company, they would have simply continued to report earnings data and just say it was unaudited.
3) Based on #1 and #2, not really, but then again, no real value in selling it either. If you sell it you can take your loss now on your taxes, but not much of a driver as it could come back (ultra-long-shot).
4) You should be able to, it is trading on the pink sheets, but you will likely have to call your broker to do it. They will have to place the order. Be sure to place a limit order and not a market order or it may dip down to 10cents just for your order.
You probably can't trade it except in Canada as we have a global lock since there is no transfer agent. Another really good sign (sarcasm). Talk to your broker and don't feel stupid here, this is a very odd situation that few have much experience with. As far as bothering to sell it seems pretty pointless. Better to see if you can get any shares and have them framed and put on the wall to remind you to never do this again. gltu