We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon
Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
A WORTHWHILE POST I THOUGHT THE BOARD WOULD ENJOY:
Here are several points I've come up with based on research and my own analysis:
Stock prices are based on many factors. There are internet stocks that have continually posted large losses that are selling in the hundred dollar range. PKGP has posted large losses -- and that is a negative factor, no matter how you slice it -- but the last SEC filing also showed that the losses were decreasing and that certain divisions had revenues increase considerably.
Does this mean the the stock will turnaround? I don't know, but during my two conversations with Mr. Altomare I have come to believe that the company is trying to do that. We can look at the last few press releases as fluff (they aren't significant news), but they are an indication of the company trying to pull itself out of a bad situation.
On March 4th the company announced an agreement in principal with the Debenture holders that basically limited the number of new shares that would be issued to 9 million (instead of 78 million). I believe the company made a mistake by not issuing another press release confirming that the agreement was finalized and that the additional 9 million shares were issued. But even the announcement of the tentative agreement caused the stock to go from about .07 to about .15 (double) in one day.
I have found out that even though a stock that is not margin-able cannot be shorted in the US that it is possible under some circumstances offshore (ie outside the US.) There is a chance that the high volume is due to shorting by debenture holders who are hoping to be issued more stock in the future to cover their shorts. This is just one of many possible explanations I have found from my research and discussions with more experienced traders.
I would also like to point out that around the time the Vallerie Bankruptcy was being finalized that a number of new posters on this thread came out and announced a number of things that weren't true about the proceedings. They insisted that they had "insider information." Then they disappeared.
Do I have an agenda? Yes, I would love to make money on this stock, but I'm not going to hype it and tell you that I know something great is going to happen in the next week. I hope it does, but even after talking to Mr. Altomare I can't say it will. I would really like to see the discussion on this thread become more helpful and respectful. I don't like losing money, but if I wanted to be certain I would have my money in the bank in a CD. This is gambling and therefore risky.
I wish everyone out there successful trading. If we happen to lose on one, let's hope we win more on another. Take care. I'm posting with my real name and will take all comments.
Greg Acuna P.S. FOR THE FIRST IN TIS SERIES SEE YAHOO
SHVA IBM (calls) PKGP WDC -new kid on the block | Stock Discussion ForumsShare