jbenko_IHB
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Stock Market Day-Trading Discussion Thread
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NEW -> Contingent Buyer Assistance Program
They're more than good, they're excellent. DIG and UYM had really nice runs in the past week as did that double gold ETN. I'm sure QID DUG SRS etc were pleasant journeys for those who bought tuesday at close and sold this morning as well. What I want is a double russia play - RSX times two (or three). A double GSG would be cool too. Or how about double COW with high volume - moo!
With options, you potentially overpay for recent volatility or run a risk of zeroing out if playing with nearterm stuff. With straight shorts, dividends can be a concern.
Ya what happened is that a private co RFID startup(smartwear technologies) did a reverse merger into a shell(GLGT). I know the CEO Bob Reed, he's young and a smart guy with big plans. He wanted to do an IPO but these days that's too costly..so he decided to do the reverse merger. They're in the process of trying to get back on the otcbb which I hear is coming soon(might see a bump in pps). They have a 10 mill revenue projection for 2008...filing could be coming soon.
Disclaimer...I own about 5 million shares at an average pps of .04(Yes I am down big time!...but I think long term it will pay off)
52 wk range... .007 to .08
OS 100 million
I am not suggesting anyone buy this stock, but it would be fun for other gamblers who partake in penny stocks to list their picks and we can track them.
LOL 250K would probably buy you the company!
No way! There a literally hundred of startups, shells etc trading well below .01 a share.
some are .001 .0001 and even .0000001!
Yikes! Take a look at the summary of their most recent 10k!
Liquidity and Capital Resources
At December 31, 2007, the Company's liabilities ($568,115) exceeded its assets ($-0-) by approximately $568,115, and the Company had $ -0- in available cash. We do not have sufficient funds to effectuate our business plan without additional financial resources. We expect to incur a minimum of approximately $1,000,000 in expenses during the next twelve months of operations, primarily for research and development, sales and marketing. Additionally, approximately $750,000 will be needed for general overhead expenses such as for salaries, corporate legal and accounting fees, office overhead and working capital.
We will have to issue debt or equity securities, or enter into a strategic arrangement with a third party, to implement our business plan. There can be no assurance that additional capital will be available to us. We do not have any agreements, arrangements or understandings to obtain funds through bank loans, lines of credit or other means of financing.
Off-Balance Sheet Arrangements
None.
Going Concern Considerations
The Company has an Accumulated Deficit as of December 31, 2007 and 2006 ($15,324,711 and ($14,656,481, respectively) and no source of revenue. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The Company needs to obtain additional financing to fund payment of obligations and to provide working capital for operations.
Oh, and they don't have a developed product yet either. (And it's not RFID, they are going for a security (video surveillance) product)
Just for the sake of clarity, I did look at their 10k. But it was morbid curiosity, not out of consideration of an investment. Though it is a garbage stock, I was curios to see what SoCalMD had $50k invested in.
I've never invested in a penny stock. But if I had put $200k into a dog like that and watched it go down to $50k, I certainly wouldn't talk about it in a forum.
K I see what you are saying. I didn't know about the 5M shares...wow...you can't even get rid of it fast...liquidity is horrid. What posseses someone to have 50K in a penny stock?
Other than the horrid financials, and other than the fact that they don't have a working product and no cash to develop a product and the fact that the macro environment makes raising cash impossible here is the fact you just mentioned. If an average position for someone consists of a couple hundred bucks, then they might be able to play with pennies. But the liquidity makes it impossible to accumulate or get rid of any real position in a hurry. According to Yahoo, the average volume on this stock is 202k shares a day. SoCalMD is holding 25 days worth of volume. Getting rid of that is going to get him killed.
All in all, going to Vegas and placing $50k on red is a much better way to blow that money.
Or better yet, why not just give it ($50k, not the junk stock) to charity? Not only would it be a tax write off, but you can feel good about it afterwards.
I agree on the surface it looks like a garbage stock. But this is a recent REVERSE MERGER..thus the new private company(smartwear technologies) merger into a shell(GLGT)...and the new company has yet to file it's 10K or 10Q, so one cannot judge the company on a 10Q it has not yet filed.
For the record, I again do not recommend buying penny stocks. I have and do, but it's not for the weak a heart. I invested in the co because I personally know the CEO and know he is very sharp and honest. If I didn't know him, I'd never have bought so much. In the past I have been an angel investor in many startups. Startups like GLGT are illiquid high risk gambles...which I reserve 10% of my portfolio for.
Just put GLGT on your ticker and watch it for the next 6 months. You may be laughing at me....or kicking yourself.
or you might have more luck buying a blue chip like Lehman Brothers or Wachovia
The 52 wk range of this stock is .007 and went up to .08. It's illiquid now, but who knows what the future holds. Nobody even knows this is a functioning company. Totally under the radar. The company smartwear has about 5 million in cash it raised from private placement investors. I don't need this money so I don't have to dump all at once. I plan on holding for a few years. Building a solid company takes time. Just keep it on your ticker.
Funny but true story...growing up my Dad was my soccer coach and our assistant coach was involved in a startup and he asked my Dad to be an investor. My Dad said no way that's too risky. The company turned out to be Pacificare and the assistant coach now lives on the water in Newport. My Dad lives in a 300K house in Murietta.
Jefa,
Its hard to give you recommendations on what to buy and what not to. Honestly, if this is for you kids education one shouldn't even feel comfortable giving advice until your risk tolerance and withdrawl scenarios are constructed. I'd love to help you...but I'd have to make you sign a disclosure agreement first.
P.S. Don't buy companies just because you like them...make sure that everybody likes them and make sure their business model makes sense and their management is sound. However, Costco isn't a bad deal especially since more and more people are trying to save now and costo offers that. Plus, no matter how bad economy will get people still need food. Only thing I don't know is how much of their revenues comes from strictly food vs. other crap like electronics, clothing etc. If its a small percentage then costco might not be your stock.
Someone really fed you some bullshit before you wrote a check to invest into a company worht .01 a share....sigh...I almost feel bad for you.
Hormiguero_IHB
New member
muzie said:
They're more than good, they're excellent. DIG and UYM had really nice runs in the past week as did that double gold ETN. I'm sure QID DUG SRS etc were pleasant journeys for those who bought tuesday at close and sold this morning as well. What I want is a double russia play - RSX times two (or three). A double GSG would be cool too. Or how about double COW with high volume - moo!
With options, you potentially overpay for recent volatility or run a risk of zeroing out if playing with nearterm stuff. With straight shorts, dividends can be a concern.
I'm thinking of gambling on ford or general motors. Because I think they will announce a bail out plan, and the stock will skyrocket on the rumor, and I'll sell. Then if no one bails them out, I'm already out.
That's about as savvy as I get.
Of course, they could also declare bankruptcy (even more likely) and I'm totally screwed. So I'm not going to bet a lot. Just a little side money that I can then put in my kids college account if it does well.
That's about as savvy as I get.
Of course, they could also declare bankruptcy (even more likely) and I'm totally screwed. So I'm not going to bet a lot. Just a little side money that I can then put in my kids college account if it does well.
socalmd_IHB
New member
tenmagnet said:
Ya what happened is that a private co RFID startup(smartwear technologies) did a reverse merger into a shell(GLGT). I know the CEO Bob Reed, he's young and a smart guy with big plans. He wanted to do an IPO but these days that's too costly..so he decided to do the reverse merger. They're in the process of trying to get back on the otcbb which I hear is coming soon(might see a bump in pps). They have a 10 mill revenue projection for 2008...filing could be coming soon.
Disclaimer...I own about 5 million shares at an average pps of .04(Yes I am down big time!...but I think long term it will pay off)
52 wk range... .007 to .08
OS 100 million
I am not suggesting anyone buy this stock, but it would be fun for other gamblers who partake in penny stocks to list their picks and we can track them.
LOL 250K would probably buy you the company!
socalmd_IHB
New member
muzie said:
No way! There a literally hundred of startups, shells etc trading well below .01 a share.
some are .001 .0001 and even .0000001!
socalmd said:
Yikes! Take a look at the summary of their most recent 10k!
Liquidity and Capital Resources
At December 31, 2007, the Company's liabilities ($568,115) exceeded its assets ($-0-) by approximately $568,115, and the Company had $ -0- in available cash. We do not have sufficient funds to effectuate our business plan without additional financial resources. We expect to incur a minimum of approximately $1,000,000 in expenses during the next twelve months of operations, primarily for research and development, sales and marketing. Additionally, approximately $750,000 will be needed for general overhead expenses such as for salaries, corporate legal and accounting fees, office overhead and working capital.
We will have to issue debt or equity securities, or enter into a strategic arrangement with a third party, to implement our business plan. There can be no assurance that additional capital will be available to us. We do not have any agreements, arrangements or understandings to obtain funds through bank loans, lines of credit or other means of financing.
Off-Balance Sheet Arrangements
None.
Going Concern Considerations
The Company has an Accumulated Deficit as of December 31, 2007 and 2006 ($15,324,711 and ($14,656,481, respectively) and no source of revenue. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The Company needs to obtain additional financing to fund payment of obligations and to provide working capital for operations.
Oh, and they don't have a developed product yet either. (And it's not RFID, they are going for a security (video surveillance) product)
jbenko_IHB
New member
,
jbenko_IHB
New member
,
blackvault_cm said:
Just for the sake of clarity, I did look at their 10k. But it was morbid curiosity, not out of consideration of an investment. Though it is a garbage stock, I was curios to see what SoCalMD had $50k invested in.
I've never invested in a penny stock. But if I had put $200k into a dog like that and watched it go down to $50k, I certainly wouldn't talk about it in a forum.
jbenko_IHB
New member
WINEX said:
K I see what you are saying. I didn't know about the 5M shares...wow...you can't even get rid of it fast...liquidity is horrid. What posseses someone to have 50K in a penny stock?
blackvault_cm said:
Other than the horrid financials, and other than the fact that they don't have a working product and no cash to develop a product and the fact that the macro environment makes raising cash impossible here is the fact you just mentioned. If an average position for someone consists of a couple hundred bucks, then they might be able to play with pennies. But the liquidity makes it impossible to accumulate or get rid of any real position in a hurry. According to Yahoo, the average volume on this stock is 202k shares a day. SoCalMD is holding 25 days worth of volume. Getting rid of that is going to get him killed.
All in all, going to Vegas and placing $50k on red is a much better way to blow that money.
Or better yet, why not just give it ($50k, not the junk stock) to charity? Not only would it be a tax write off, but you can feel good about it afterwards.
socalmd_IHB
New member
WINEX said:
I agree on the surface it looks like a garbage stock. But this is a recent REVERSE MERGER..thus the new private company(smartwear technologies) merger into a shell(GLGT)...and the new company has yet to file it's 10K or 10Q, so one cannot judge the company on a 10Q it has not yet filed.
For the record, I again do not recommend buying penny stocks. I have and do, but it's not for the weak a heart. I invested in the co because I personally know the CEO and know he is very sharp and honest. If I didn't know him, I'd never have bought so much. In the past I have been an angel investor in many startups. Startups like GLGT are illiquid high risk gambles...which I reserve 10% of my portfolio for.
Just put GLGT on your ticker and watch it for the next 6 months. You may be laughing at me....or kicking yourself.
socalmd_IHB
New member
blackvault_cm said:
or you might have more luck buying a blue chip like Lehman Brothers or Wachovia
socalmd_IHB
New member
WINEX said:
The 52 wk range of this stock is .007 and went up to .08. It's illiquid now, but who knows what the future holds. Nobody even knows this is a functioning company. Totally under the radar. The company smartwear has about 5 million in cash it raised from private placement investors. I don't need this money so I don't have to dump all at once. I plan on holding for a few years. Building a solid company takes time. Just keep it on your ticker.
Funny but true story...growing up my Dad was my soccer coach and our assistant coach was involved in a startup and he asked my Dad to be an investor. My Dad said no way that's too risky. The company turned out to be Pacificare and the assistant coach now lives on the water in Newport. My Dad lives in a 300K house in Murietta.
jbenko_IHB
New member
jefa said:
Jefa,
Its hard to give you recommendations on what to buy and what not to. Honestly, if this is for you kids education one shouldn't even feel comfortable giving advice until your risk tolerance and withdrawl scenarios are constructed. I'd love to help you...but I'd have to make you sign a disclosure agreement first.
P.S. Don't buy companies just because you like them...make sure that everybody likes them and make sure their business model makes sense and their management is sound. However, Costco isn't a bad deal especially since more and more people are trying to save now and costo offers that. Plus, no matter how bad economy will get people still need food. Only thing I don't know is how much of their revenues comes from strictly food vs. other crap like electronics, clothing etc. If its a small percentage then costco might not be your stock.
jbenko_IHB
New member
Someone really fed you some bullshit before you wrote a check to invest into a company worht .01 a share....sigh...I almost feel bad for you.