So, I looked at this stock/company for a couple of months, and got a wocket to try it out.
It works as promised. But then, it stopped working - probably dropped in water. I was on the road, and was left broke - no backup card(s) to use. Normally, I'd carry about 3 different credit cards, in addition to a bank debit card. And those card companies do cover the transactions due to identity theft and unauthorized charges. Therefore, the only advantage to use a wocket is that you don't have to carry a bunch of cards. But really, I still need to carry my wallet, in addition to the wocket, because I need to have a little Euro on me, just in case I need it on the road. And you still need to carry your photo IDs. Otherwise, you'd be in real trouble without a photo ID card, or your passport. And some cards don't have a magnetic strip, and you might want to have them in your wallet - they're part of your life anyway.
I'm not sure how many people would want to spend $149 to use wocket. You still need a backup card, in case you lose the wocket for any reason. And you can't really live without a wallet anyway.
What would those biggest bagholders still be willing to pay for the largely inflated new stock next? You know, the high short interests always result in distorted stock prices.
Those legal battles are very expensive to the company, and those big shareholders have lost too much thus far - having chased the shorts all the way to $40's, twice! Ouch!! That's too much money lost in trading war in the last few years, all for nothing.
My projection is that they will no be paying more than $3/share in the next cash raise. The stock will eventually go back to $2 range and wait for its final ruling. Talking about high risks still with this junkie stock.
And the all those liars who roamed on this board once and fought against me for shorting the stock 2 - 3 years ago?
What about the infamous, Stock77? Remember I pointed out the post was a liar, but everyone loved him?
Willie once famously claimed "$39 was a good buy!" on this board. Wow.
How about going to zero eventually?
I will provide further explanation to this deal at my blog. To read my take, please go to tumblr - google it if you don't know what tumblr is. Once you are at tumblr, search for h-grant-h. It will take you to my blog right way.
I've not posted update on NETE yet, because I want to see what those "big" traders are up to in the next few days.
YMD is not the place for serious investors.
Some big traders have been manipulating the stock. According to the Agreement -
"As an initial exchange, Crede elected to exchange the entire amount of both promissory notes on September 15, 2014. The “exchange price” for this initial exchange was $5.70. Accordingly, on September 15, 2014, the Company exchanged 125% of the principal and interest under both promissory notes into 3,481,768 shares of Common Stock. As this number of shares is subject to adjustments over the True-Up Period following this exchange, the Company issued to Crede an additional 422,993 shares as a reserve for such adjustments. The entire 3,904,761 issued shares will be trued-up at the end of the True-Up Period to result in the number of shares determined by dividing the aggregate amount of the promissory notes by 80% of the volume-weighted average trading price of the Common Stock during the True-Up Period."
That means the new shares are worth $4.066/share. It's a very good deal for the company.
The best way to deal with those nasty posters is to click the ignore button. No time to waste.
B/c you didn't hit me at $1.54, I reserve the right to continue to post.
I did say I would try to test the long side. So, not only I covered at $1.56, I also went a little long at the same time. And I just sold it at $1.9.
I would probably retest the long side at $1.50 level again. Should it fail, I would have to conclude that those biggest shareholders who have held the heavy bags for so many years will have no choice but to sell the stock down under $1, in order to raise cash
Or they quit all together and give up the dead horse once and for all. I've seen those little companies went bankrupt all the time. There is nothing new.
Well, covered at $1.56. No complaint if this junkie goes under $1 again. You never know what those idiots are capable of in the stock market.
The trades to the short side have turned out to be so profitable thus far, thanks to the manipulators. I'm not going to wait until next week to cover. Hopefully, those idiots will let me cover today at $1.5 level?
My order is at $1.54. Please hit me. And I promise this would be my last post here. They say "greed knows no boundaries." I'm not one of those.
Cheers and good luck to you nice folks.
Boy, they keep walking the stock down like it's going to be zero soon.
And I keep piling on the short on the upticks. Where are the buyers?
I can't believe I'm making nice profit this morning after shorting it at $1.90. It's all automated trades.
This is just to show you why they're manipulating the stock so shamelessly. I locked in for a quickie, without even looking at the trading. LOL
Go to tumblr - Google it if you don't know the site. And enter h-grant-h and click on Search.
I have the most up-to-date trade setups posted, to different group of readers. And general info about the company and the hedge fund managers who jack it up and then dump it.
LOL. I remember many years ago, I commented on YMD that "shooting fish in a barrel" might be harder then you think. Because a barrel is usually a very large container, when you put in a fish, it's not that easy to aim due to the bending effect of the light rays into the water surface.
However, a bucket of fishes is a small container, to which one doesn't need to aim. You just shoot into the bucket and you woudn't miss. That's just how easy to short this stock.
In any event, I covered half of my short at the close today, from $3 to $1.80 so quickly. They really made the game too easy. Meanwhile, I might buy a little to the long side, as they continue to sell this junkie down. Who knows for sure? It might be a good trade to the upside again at some point.
Before you start to show your own ignorance, I suggest that you go to my blog, at tumblr. Type in h-grant-h and do search. You'll see the most profitable trades recorded in real time.
Every rarely you'll be able to learn something so useful and effective in in trading and investing.
What made this trading game so easy was that "they" jacked it up so hard, and then, they pretended to be "honest" by contacting the company for "explanations". But they already knew the company would chose to shoot its own foot anyway.
It's a piece of junk, and it has trapped some of the biggest idiotic traders and investors alike for some 10 years! This game has become so sickeningly easy that you have to short it like there is no way out.
Go to my blog at tumblr.
tumblr is a blog site, in case you don't know. Google or Yahoo for "tumblr", and once you got there, search for my id, h-grant-h. And you'll see a lot of related info. For real time update, you need a paid subscription to my email service.
Just read my blog, and it will more than worth your time.
Let's be honest, folks. By firing PWC, a legit Big-4 that would have really given a chance for NQ to restore some of the credibility in the end, however long it might have taken to complete the audit, company finally did itself in - guilty as charged.
For all the intents and purposes, NQ lied again in its latest PR with regard to firing PWC. There're clearly big "disagreement" about the audit and the procedures to conduct what are considered necessary by PWC. But NQ clearly disagreed - NQ won't be able to substantiate its claims made to PWC.
Because PWC clearly didn't want to risk its reputation this time with NQ, it didn't bulge on its audit positions. PWC would rather lose the work contract with NQ! Wow. NQ is really a fraud and the Wall Street will have no choice but to treat it as such.
What is the cash value for the stock? Can those big investors sue and get the money back? I doubt it very much.