ManMillion
8 years ago
2000 shares? $20 is not trading. Investors are patiently waiting. You see, this company has value, PPMH may trade 2,000 shares for a penny - that is effectively ZERO. If you want to buy 100,000 shares of PPMH at 0.01 it won't happen. Shorts wish they could but they can't. Just like today, the share price soared 250% on 700 shares. Effectively zero trades.
Patiently waiting.
lucky, mydog
8 years ago
the sec said this was fraud in the strongest terms it uses.
The Commission temporarily suspended trading in the securities of Platinum Pari-Mutuel Holdings Inc. because of questions regarding the accuracy and adequacy of publicly available information in Platinumβs press releases, since at least July 2016, and financial information that it disclosed to the public via OTC Markets βDisclosure & News Service.β Those questions concern, among other things, the valuation of recent corporate acquisitions and projections concerning future revenues. In addition, we have concerns about third-party promotional materials to which the company has been subject since at least November 2016. This order was entered pursuant to Section 12(k) of the Exchange Act.
1manband
8 years ago
No, actually PPMH was suspended mostly for a technicality.
Sorry, but no. We hear the same BS in every SEC suspended stock. The SEC doesn't make mistakes, and doesn't suspend for "technicalities". They suspend for fraud, which the SEC already discovered prior to the suspension.
And the suspension is not the end, it is the end of the beginning. The SEC, and perhaps the DOJ as well, will now be conducting a formal investigation which can continue for up to 5 years.
Full Contact Yoga
8 years ago
Actually, completely untrue, old wives tale. But, irrelevant, it will open on the grey market, same CUSIP, down a ton, minimum 50% to start IMO...
1manband
8 years ago
It is beyond the scope of my posting here to point you to the resources to understand naked shorting, and how to find out what that position actually is.
Seriously? Those "resources" are bogus. Just conspiracy BS that is not factual in any way.
"Naked" shorting absolutely shows up in the FINRA numbers. This is where the naked shorting argument falls apart. The transfer agent knows, to the SECOND, how many common shares have been issued. They also know, to the SECOND, how many shares are owned (naked short shares have to be sold to someone, and those shares go to the transfer agent for transfer). So if there are any naked shares short, much less millions or hundreds of millions, the transfer agent knows it and reports it. The stock would show up on the Reg Sho list.
But PPMH is NOT on the Reg Sho list. There are no naked shorts. That claim is absolutely boloney.
a name and CUSIP change forces naked shorters to cover
No, it doesn't. More of the "I read it on the internet so it must be true!" BS. Not factual at all.
ManMillion
8 years ago
Do you understand naked shorting of PPMH? It is shorting PPMH shares that haven't transactionally been borrowed yet. That is not the same as traditional shorting of PPMH, which is a small 10k shares or so.
It is beyond the scope of my posting here to point you to the resources to understand naked shorting, and how to find out what that position actually is.
The problem with a naked short on PPMH - There are not enough shares in regular circulation to cover. THAT is a real problem - and now opening on the Grey market means not as much visibility to find even those shares. So in a case like that, opening on the Grey market can cause the price to rise as naked shorters try to buy up everything they can. Why, you might ask?
Remember, a name and CUSIP change forces naked shorters to cover. period.
Peggy, et al - why are you issuing profanity-laced tirades to me in private? What do you hope to accomplish by doing that? You only serve to weaken your position and strengthen my resolve, obviously you wouldn't put so much emotion into your comments...unless you were worried. That twinge you just felt in your stomach? That's excess acid.
I love you all - especially the haters. Peggy, have a good lunch today. Remember, not too spicy, it will be bad for your heartburn.
1manband
8 years ago
Alao shorters will have to cover
Shorts? You mean all 10,946 shares of short interest?
http://otce.finra.org/ESI
PPMH is finished. It will reopen on the gray market with no bid or offer, so trading will be wild, scattered, and light. All orders will have to be matched, so a current holder might get lucky at a higher price for a small number of shares, but you can expect the price to drop by at least 50% fairly quickly.
lucky, mydog
8 years ago
actually;
The Securities and Exchange Commission (βCommissionβ) announced the temporary
suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the βExchange
Actβ), of trading in the securities of Platinum Pari-Mutuel Holdings Inc. (PPMH) of Memphis,
Tennessee at 9:30 a.m. on February 16, 2017, and terminating at 11:59 p.m. on March 2, 2017.
this will be able to trade on friday, 03/03/17.