VOLUME? Oh that's right there is none. Contract my A4s, they have no contract and lied about Army working with them. SAIC will call upon them when they need someone to research how many days in a year. This company is a fraud!
the newly awarded contract to them and only damage the share value even further. Now with lows in s/p soon going below $2 it will be easier for them to initiate the SECONDARY at an approximate value of $1.50, meanwhile all those lured in on the news without details will left holding the empty bag...AGAIN!
That deficit is growing every Q and was the reason they pumped the phony PR out on June 24th. It bought them some time as insiders were dumping and you'll soon see SC-13G forms for sales by CEO on down. SECONDARY on it's way because without it lenders will start picking this company apart for any valuable segments. You were warned!
GET OUT or regret it soon!
That about sums up the portion of the 497M they'll be receiving .0000001% of it if they're lucky! Scammed by words would be a better title for this garbage company because they're certainly not making money by selling , what, broadband air wave products!
Read today's headlines for xG tecnology for anyone who trades with Scottrade, it's right there. They are supplying the US Army nothing. They have no contract with them only to advise SAIC "IF NEEDED"!
How much of 497M do you think that's worth... $50.00 US dollars if you're lucky. LIARS and FRAUDS!
Then goes on in his interview to state we'll be teamed with SAIC. They are the Army's contractor of choice not xGtechnology and SAIC chose to use xG technology for, here's the kicker, pay attention " research, development, and support"... That's it folks, nothing more and certainly no hardware of any sort. No wonder he never discussed % of contract it's not even 1 %. It's worthless just like xG tecnology shares and all holders abandoned ship on this one lousy fake PR. Holders of XGTI are now FAULKED!
Dear sucker, this stock will never touch $3.10 this year or next as many here are trying to lead. The trend is down and the minute they have to disclose the subcontractor amount they're entitled to, this will surely hit the $1.00 mark. Get out now or regret the max pain that's coming as many here that have been around for years will tell you...SCAM all the way! they are stuck from the $9 range down to today's sick $2.10 and are writing off tax losses for years because of the #$%$ running this company into the ground. Next will be another secondary once it falls below $1.70. POS Company XGTI!
Your right on track with what I believe was a PR to draw attention to themselves in order to release shares from behind. The volume spike was immense but started the decline right at open and is where it is today, even further down. Management did not even try to explain the contractual details in a percent % standpoint so to inform investors what they really received. We'll never know and only be left sorting through piles of 10Q docs and accounting #s to make sense of it all. It's also the reason it drops daily, Market knew it was a PR blitz to fool new investors and even St put out a piece about them a few days prior. They all got out June 24th while suckers were left fooled by trickery of expression, FALK this company and short them to death, it's your only hope!
xG technology management will most likely have filed Form SC-13G orders to sell during this last fiasco PR to pump and run. Many will abandon ship once it becomes public, about a week I'd say. I truly hope you own a boat load as this fraud company who fails to deliver services of over a year will get caught and prosecuted to the fullest. SCAM COMPANY Whoa!
Prev Close: 2.26
Bid: 2.21 x 200
Ask: 2.22 x 3200
1y Target Est: 1.50
Next Earnings Date: N/A
Day's Range: 2.16 - 2.3097
52wk Range: 1.12 - 9.00
Avg Vol (3m): 1,054,970
Market Cap: 53.15M
P/E (ttm): N/A
EPS (ttm): -2.23
Div & Yield: N/A (N/A
Now it's considered a terrible investment due to volatility @ 16.86 that's off the charts dangerous.
"xG technology said the U.S. Army chose it as a subcontractor on a 497 million communications and networking contract. Shares rose 68% to $3.10
The headline says xG technology "Fawking SAID" so quit with the #$%$ of they didn't say! CEO needs his BA!!S squeezed in a vise for pumping false information to analysts covering the story! He's a faking liar period and should be liable for the damaged share price that many are left holding. Falk him!
100% agree. I said this the day the PR was released. CEO needs a follow up with clarity of terms and conditions to subcontractor. It won't happen because like you said, insignificant portion if any will be awarded xG Tech. We were scammed and insiders were selling for profit. Wait and see when Form SG-13Gs start surfacing with giant SELLS attached to them. Matter of time folks!
"I suspect it's Coleman calling in favors to get his buddies to toss xG some scraps for the PR value. It worked. Big time."
This statement is true but punishing the CEO for it is impossible. It's a "PROVE IT" situation. The reason it is true is because the price immediately shot up, was printing on CNBC tape over and over, was covered by Street as a stocks under $10 ready to explode, and was trading pre-market at $3.40 and at the opening bell began the horrible fall as insiders and hedges were selling in truck loads and the general public could only read xG technologies receives $497M contract with Army. They baited retail and sold all day and sadly it can't be traced. This may be the companies last ditch effort to survive on the profits from this scam or they simply announce we are excluded from the subcontract due to inability to produce!
I'm ready to take some heads off for this manipulation!
Very true scum ball only thing is it's still working on the left leg down to about $1.85 then months of silence and then another vague PR and bump to $3+ only to retract right back to $2. IDIOT you are the reason I post cause you need your A$s kicked verbaly!
This PUMPER is a fraud just like xG technology! Many were fooled by shady PR which analysts have determined to amount to XGTI getting 12M of the entire contract over 5 years. Cannot confirm because CEO is afraid to speak and jeopardize jail time for insufficient detail to contract. He should be barred from running any company.
draw attention to a PR that nothing but FRAUD!
Yep, I'm one of those lambs that got sheered to the skin and fell for for the first PR dollar amount and xG acting as though it was awarded them exclusively. It seems they're comfortable straddling the line of fiduciary obligation and FRAUD! There's no way to justify the volume today by any other criteria other than the wording of the PR. A class action lawsuit needs to be initiated by investors IMO! These guys are crooks if this isn't broken down into understandable percentages of all contractors and the subs by EOW!
board members needs to disclose the portion of the 497M contract awarded xG Technology, Inc. or a class action suit needs to be filed immediately. Analysts are now estimating only 12M was awarded xG. However, the PR was anything but clear and led investors to believe that their portion was 497M and no attempt by xG tech to revise was made. You cannot claim credit for 497M and then later disclose a mere 5% of that amount was ours! That's fraud and can be punished to the fullest extent! Class action suit should be sought for misrepresentation of actual facts, percentages, and dollar amounts.
All (3) points you mention bring absolutely no interest or draw the necessary attention to entice new buyers! There worthless in the Market's eyes and the insider buys have actually hurt the reputation now as the share price collapsed. It was staged as a publicity stunt and St. jumped all over it with a quick purchase and sell the following day after their article! DD try it sometime it really does work!