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cw3342
In the grey market where we find OSTO trading in public markets, if you can call it that, the $0.0001 trades do not represent a lack of higher bids, they represent a license to steal below bona fide buy limits of other public orders. This is just how the grey market works, it’s a den of thiefs where bids and offers are not in one centaralized book, so to speak, and are all over the place. The grey market is like going to a flea market on Saturday with dealers in different locations offering to buy and sell at all different prices. I guess, it’s just the luck of the draw if you’re not shopping the dealers for the best price and yes, somtimes the seller gets hosed as is evidenced with a $0.0001 price.
The BIG problem for un-be-knowing public is they assume the market is centralized like on Exchanges or in a dealer connected network. Little to they know that placing market orders to sell OSTO stock is like putting themselves on the chopping block.
Street Name means the shares are held in the Brokerage’s name, for your benefit.
Most places charge a fee to issue out certificates, and/or a fee to hold certificates in the brokerage’s vault in your name (local safekeeping).
Most stocks these days are held in Street Name in order to make it much easier to buy/sell/transfer. Although somewhat disconcerting, this has some advantages, unless you are a long-term holder. (Millions of stock certs were lost in the World Trade Center, they are probably still working on figuring all of that out)
If the fees are not too high, try to get the shares issued out to you in certificate form…
The share price should settle at its actual value.
There are exceptions I would think, and I could be mistaken, but if most hold 16to1 for long term then there are very few sellers which creates an inefficient market. Also, few buyers, probably because not enough people know the story of the mine. Also, no market makers, or at least no consistent market makers.
Someone could be just entering sell orders at market, thinking that the shares have no value. Then if there are not enough limit orders to buy, then that could be where some of the .0001 trades are coming from (this is just guessing on my part.
Probably too many “junior gold” stocks out there that are being “hyped”, and these might tend to attract more attention with traders than some of the decent companies.
These items plus other issues get in the way of shares settling at whatever “actual value” should be.
I usually buy a stock with every intention of holding it forever. That cost me dearly in 2000, when even some good solid companies were beaten down with the best. Now I have a tendency to sell stuff when the news is especially bad. Works well when the market is going down, since every day that you don’t own a share there is a good chance you made the right move. Lately, it’s good to hold. I trade enough that holding the certificates wouldn’t work for me. The three days to clear rule hurts me occasionally. I bought the shares in Sixteen to One for the long term. I actually held shares in the Brush Creek Mine, that became Jefferson Bootes Enterpises Inc. or something like that. JABI still stares at me when I open my account as a reminder of the mistake. It is valued at 0.00.
I did send Mike the details of my trade. I am not sure what can be done about the share price, except for people to bid the price up. If you put an order in for .08, I’ll have to bid .09. Shouldn’t the share price finally settle at its actual value to an investor?
To lj, below:
Do you have a stock certificate? If so, what is the certificate number and when was it signed?
I don’t have a single stock certificate for any of the stock that I own. I assume that my brokerage has them. When they take my money for the shares, and charge me a commission, I have to imagine that a real transaction took place. I am out of town, but I will check my account tommorrow and get you whatever information that I can.
I know a bit about one of the recent trades, since I was a part of it. After hearing about the trading of shares at low prices, I placed a good until canceled order in my brokerage account for 2000 shares a .05, and another for .07. The order has been in place since early spring. On Sept. 11, my order for 2000 @ .07 was filled. The seller either offered only 2000 shares for sale, or there was another buyer at .07 that bought the remainder. My order at .05 would have been filled if the shares were offered at .001. I don’t know why the shares were offered at market rather than limit, but I know that there was no collusion between buyer and seller, since I was the buyer. The shares of OSTO are often valued at .00 or .01, currently the price is .0001, I suspect they lose value on the market since there are very few trades. I am still unsure why buying shares through a brokerage is “grey market,” but if there are questions about the ethics of the trade I will gladly sell the shares to the Sixteen to One Inc. for the .07 I paid for them. This doesn’t answer the question about the .001 share price mentioned in previous posts, but it at least leaves open the possibility that the shares are sold at low prices because someone gives up and puts the shares for sale at market, and they sell for next to nothing.
PS
Thanks to the ladies at the office for directing me to an access point at Kanaka Creek on Thurs. The trout were very very small, but the scenery was beautiful.
Last night I was the guest speaker at the Nevada County Historical Society meeting in Nevada City. Six shareholders were there. Another six people asked me about buying stock. Finding the right answer was difficult. I repeated our history and said that getting a public market is a desire and in our future. I told them about the Grey Market. Their eyes glazed over, so that failed. I said the Company maintained a market for shareholders and non-shareholders. There is no way to explain (briefly) share selling for $.001. Why would those executing those bogus sales take the chance of exposure?
Answer: quick money or unlikely to get caught or ignorant, maybe more. I wrote the following letter to an experienced gentleman I discovered in researching stock markets. He replied rather tersely “you might try to call the SEC if you think there has been misconduct.” Obviously I had hoped for more.
Dear Mr. Lofchie,
I just finished your report of May 1, 2008, co-authored with Moises Messulan about SRO’s. Perhaps you would help us with a problem that haunts the company I have been running since 1983. It is Original Sixteen to One Mine, Inc, (OSTO) incorporated in California in 1911. It is the oldest US gold producing company and longest operating mine in North America. It is also very small
.
When the Pacific Stock Exchange gave up its market, we were one of five companies exclusively listed with no place to go. Currently the Pink sheets show OSTO on its Grey Market. Something very strange has been taking place with trades over the years. Recently 10,000 shares sold for $.0001 a share. The next day 15,000 shares were bought for between $.07 and $.15 for an increase of 70,000%. This concerns us as well as shareholders, who have questions similar transactions.I’ve gotten nowhere from researching rules or ethics applicable to our status and SRO’s. Are transactions as this unprotected by rules? Your guidance is appreciated. I will reciprocate with one of the best underground experiences you will have at the Sixteen to One mine in Alleghany, California.
Regards,
Michael M. Miller, presidentSRO is the self regulatory organization established years ago to assist the SEC by encouraging brokers and dealers to police there own rather than a government agency. I’ve written the SEC with our concerns with no success. Why would it bother? We represent the equivalent of an atom of oxygen in the Pacific Ocean to the stock market industry. Keep searching for answers, friends. It’s interesting, in a perverse way.
Those are our shares Rick.
The grey market for our shares is NY is probably, $0.0001 bid and offered at $0.07. If you can buy 10,000 shares at $0.0001 it’ll cost you just one buck. It’s quite apparent that this market exists to steal from selling shareholders.
I think it’s fairly resonable to state that those shares trading are from street name to street name requiring no name changes at the transfer agent. If someone is short then they just borrow from another member or never even deliver the shares, it happens all the time with the regulators looking the other way.
Setting the price at $0.0001 means a couple of things: The seller is being robbed or the short seller, higher up, is making a demonic profit.
The Canadian markets may be many things but one important aspect they do represent is EXPOSURE. Canadian markets are viewed daily by people around the globe. The grey market in NY might as well be a dead-ended alley full of garbage and two-legged relievers.
I believe someone should start marketing gold specimens to the public as outstanding wealth preservers. I have a fair amount of 16 to 1 gold pieces representing part of our family’s core investments against possible devaluation and as a hedge against the continuing destruction of our currency’s purchasing power. And to boot, if the government calls in the gold then we’re protected as we’re only holding mineral specimens.
It is absolutely amazing to me that no one is really interested in buying these beautiful rare gold specimens from us. When somebody wakes up they’ll be gone in a flash. You all have an opportunity today, right now. When they are gone, they will be gone forever, locked up as a calamity reserve for someone’s future financial security.
Some morning we’ll wake up to the news of a currency devaluation along with the banks being closed. When this happens all gold related items will make the adjustment to higher levels as our currency holding in the banks will be worth much less in international terms.
Sure, the FDIC insures our dollar bills in the banks but ONE thing they don’t insure is maintaining our purchasing power. It’s goes completely beyond my understanding why folks continue to keep their wealth in our currency denominated items when China has basically been calling our financial system a complete sham for many months.
According to the words in the Patriot Act, any gold coins worth more than 2 times their spot price are not considered bullion. The better gold specimens from the mine are worth well in the excess of 2 times spot. So, why wouldn’t the specimens qualify for exemption if big brother comes calling for your gold?
Which stocks?
2 more trades today, 414 and 5333 shares, both at $0.0001
Listing on Vancouver may not be a very good idea. From what I have seen, the speculation, maneuvering, etc., is even worse than the OTCBB and/pr Pink Sheets. There are so many “junior golds” listed on Vancouver, that it lends to a lot of email, website, and faxed newsletter “pump & dump” schemes.
I believe there is a bank in
Sacto. Valley, First Northern
Bank (FNRN:BB) that has and
still trades on the OTC bul-
letin board. The bank has been
in business for 100+ years.
I understand the cost to the
issuer is much less than being
on an exchange. One might look
in to the idea.Any update on the note that was due in early Summer and mentioned at the Annual Meeting?
Still no willingness to raise capital from shareholders?
Have you folks thought about being listed on the Canadian Stock Exchange? There is a greater interest in small mine investment in that nation. Also what is future prospectus of development? A detailed future plan of action to increase production.
Its seems like an appropriate time to expand on common thievery. Gerald Celente recently called these kinds of people, money junkies. They, basically, produce nothing and dealing with them comes at a high price.
Just look what happened with the banks in 1980 when Paul Volcker declared war on inflation and raised interest rates to combat it. During the process the banks were allowed to raise the usuary rates(rates charged on credit cards) from just below 8% to whatever they wanted. Following the taming of inflation Congress conveniently forgot, in the bank’s favor, to return the usuary rates back in line with pre inflation conditions.
Ever wonder why we can’t get rid of our credit cards? The people who can least afford to give away money are being charged anywhere from 20% to 30% on outstanding balances. And let’s say that these banks have direct and indirect ties to the Rothchild’s. Our money “fee handouts” to the banks could very well be shipped abroad and not plowed back into local economies.
If the usuary laws were returned to historical normal levels we wouldn’t be requiring any DC stimulus packages of which we are getting charged for.
Max Keiser says the money junkies are so entenched in this country that it’s like have a serious virus in our A holes that we’ll never ever get rid of.
Your only hope in protecting yourselves is by having a good portion of your wealth in gold coins, not in safey deposit boxes, but in your own personal custody. It’s time to be creative in storing our treasures.
Let’s put into perspective the trade of buying 10,000 shares at $0.0001 and reselling it at $0.07: that’s a profit of 70,000 percent. Let’s see, buy 10,000 shares for $1 yesterday and sell it all for $700 today. This is the type of crap that gives the market making profession a reputation that it rightly deserve, THIEFS.
Ryan
Looks like we might have lit a fire and people may start buying into this gold mine.My 30,000 shares cost me from .05 to .75 cents per share so I feel better about it.
I think Mr. Miller would like nothing better then to get back underground with a crew,and I am convinced that he can and will find the most spectacular pocket the mine has ever seen.
Putting California back on the map as a gold producing State.Looks like someone bought a couple of blocks today at 7 cents and 15 cents.
Say, is there an update on securing a loan to replace the note that was called at the beginning of summer?
Whoa, wait and halt this conversation for a second. What did I just read? Did someone actually sell 10,000 shares of stock for $10? I agree with both of the previous entries here about the buyer. If the broker bought the stock or bought it for his client, he scored some fast value.
What about the responsibility of the selling agent for his client to his client? Is there a stock brokerage due diligence code? Is there an enforcement agency to oversee and confront those who screw the client on the sell side?
I’m shocked. I’ll pay the new owner a hundred times profit in one day with a check for $1000, which computes to “earning” an annual percentage rate too high for me to compute.
I just don’t get it for following reason as well as well as the obvious.
While the Company is not on any official trading markets, that is not an acceptable excuse. The Sixteen to One has filings with the SEC , it does the required steps that all public companies must take to stay in operation: notices, shareholder meetings, minutes, file corporate papers in Sacramento, keep a web site, keep an office with regular hours, maintain its assets and pay required State of California and Federal taxes. Original Sixteen to One Mine, Inc can be found by even the most illiterate Internet users.
That seller should be prosecuted or lose his or her license to be a stockbroker. That’s a fact not an opinion.
Rockroby
All I can tell you is where the Sixteen to One trades today in NY is just like turning back the clock to the lawless Wild West Days, and playing on their turf, to boot.
The jerk NY market maker who bought the 10,000 shares for a buck is as shameful as they get. Most of the responsibility for this disastrous trade rests on the shoulders of the registered rep who let this trade be executed at such a ridiculous price, $.0001, totally laughable and sad at the same time.
You have no idea at the scum-bags that actually work in this industry today. Many of them take absolutely no pride in their work.
The bottom line for this trade is that the client will have to submit a check to the broker for his commission deducted from the principle amount on the gross trade creating a deficit. Since the Orignal Sixteen to One is, more than likely, not programmed into any broker’s computer system for an automatic execution it has to be phoned into the trading desk for special handling and that, these days, costs mucho dinero.
The customer could be charged anywhere from $25 to $65 for this trade. So, in what sense is there any benefit to the customer here? He pays to have someone take the shares off his hands for a tax loss? Give me a break!
If I had to offer an opinion, I would speculate that some evil force put through a wash sale to exert pressure on the current shareholders who have their hands full at the moment with more legal intimidation.
The woods are full of people who think they can steal valuable past producing gold properties for a song and a dance from unsuspecting owners through all types of intimidation ranging from paid for negative news reports all the way up to their government connected buddies.
I have seen numerous accounts of low priced precious metal related companies get continually hosed by big investment firms for fun and profit in Canada to the point where a reasonable person would wonder, where are all the regulators?
We live in a society where morals are losing their age-old value as we witness an historic financial breakdown in this country.
When I was an Exchange broker and was given an order to sell for a customer and there was an absence of buyers I never hit the market makers bid, especially on an inactive stock. I took pride in representing the customer and looking out for his best interests. Many times I called the company and spoke to their Treasurer asking if he knew of any interest to buy shares that were not being represented on the floor. On occasion, it didn’t take too long until an order surfaced, sparing customer from the market maker’s low-ball bid while saving him a considerable amount of money.
Remember, just like the way the bullion banks sell gold on the COMEX, it’s not necessarily their intention to get the best price but it has been mostly their desire to SET THE PRICE.
And WHO does setting the price benefit?
Stock went down today from .01 back down too .0001.
And I still can’t buy it on the open market for .85 cents,anyone find out why this is happening yet?
It does seen easier to get through my U.B.S. account just can’t buy through online trading.
Gold just went over a thousand dollars an ounce again.Californians have always headed for the hills to make a little extra money during high unemployment and now the State has taken away dredging.I guess that the State would rather have a bunch of pot growers in the hill’s(and they can cause a lot of damage)then people looking for gold.
Things must change or this State will find itself in one hell of a lot trouble,well more trouble then it already is.
Let’s open up 100 gold mines in this State and put us back on the map as the Golden State.To Rockroby and others:
I’m hitting it every day and with all my creative business skills to get us back into gold production. Right now I’m writing the annual shareholder letter, which reviews the past year and offers a look into the future.
I have an activity (started in March) with one real financial party. We are optimistic, but it is premature to go into details. I was very disappointed when the financial crisis disintegrated the interest that was also real. Everyone disappeared. When a loan or other funding is completed, you will know. Until then all I can give you is the fact that after solving problem for our Company for many years, I am not quitting or taking a bad option . Please keep your interest positive. Mine are.I have had a standing bid in with U.B.S. for 1,000 shares at .55 cents for two months & it won’t take.Have also tried Etrade for a dollar a share and it won’t take.
Their are millions of ounces of gold waiting to be blasted out of the mines that we the shareholders own,we just need capital and good hard rock miners to get it.
Mike I think most of us know that China will be the only Superpower left if we keep going down the path that we are,
say what you want about Bush but he did keep us safe(it just cost to much to do)and he was not good at lying unlike Obama & Clinton who I now think would have been a better choice.
What we would like to hear from you is that your making some progress in getting back to mining.
ThanksLooking at time & sales, I noticed that 6000 shares of OSTO traded on April 21 at a price of .0001 per share.
THAT IS ONLY $0.60 FOR 6000 SHARES!
This really brings into question the validity/accuracy of any trades on the Pink Sheets and/or the OTCBB. I very seriously doubt that anyone would be able to buy shares at this price through a brokerage – whether it be online account or bricks and mortar.
Once again, this is a “gray market” that is very vague in many different ways. There are a lot of loose ends and inaccuracies when it comes to trade reporting. Unless a stock is trading on the Amex, NASDAQ, or NYSE, you really can’t count on accurate trade reporting.
I will try to see if I can get a bid/ask next week, just to see if there is anyone out there trying to trade.
I see the trade in bigcharts, but when I research the company at Schwab, the 52 week low is $1.20. I have to guess that this low trade is a glitch in the data stream. I see it occasionally on both the up and down sides, and always check the price range to see if the outlier is real or not. I don’t know if I am correct in my assumption, but it usually makes me feel better anyway.
I will watch Sino Gold. I like BHP Billiton for similar reasons. Marius Kloppers, an engineer turned CEO, seems so good at his job that the company can’t fail. Rio Tinto, has great resources but they have cash problems, and must sell themselves off a little at a time. If they survive this slump, maybe they will also be a good company.
One issue with the OSTO trading is that there is no “depth”, or in other words there are no standing bids/offers. In most actively traded stocks there are multiple bids (to buy), and offers to sell at certain prices, similar to those on this website. With the OSTO, many times there are ZERO bids/offers. Or, sometimes if there is a bid/ask it will only be for a small number of shares, maybe 400, or 700, etc.
IF ANYONE HAS SHARES IN AN IRA (or other Retirement Plan account), and the shares are held at a brokerage in street name (and/or the registration has the name IRA Custodian), NOW WOULD BE A VERY GOOD TIME TO TAKE A DISTRBUTION IN KIND with the shares.
You can transfer shares of stock in kind out of an IRA into a non-IRA brokerage account. They should give you an option of NOT withholding any taxes also.
The reasoning behind doing this now, is that most brokerages will calculate the taxable distribution based on the value of the shares on the distribution date.
If you take a distribution of shares now, the taxable amount should be .0001 per share.
I cannot gaurantee this, nor am I giving any tax advice…
lj
The word crook was used is a very appropriate manner.
If you go to bigchart.com and check out the price trading history prior to the mentioned trade at $0.0877 in early November of last year by selecting SIOGF, you’ll notice that the previous sale was $1.90. This $0.0877 sale took Sino Gold down by about 95%. The next day the stock opened at $2.05. Friday’s last sale is $3.80
Sino Gold is an Australian gold company that has been very successful in establishing their presence in China, the number one gold producer in the world. Currently, Sino has two operating mines producing about 250,000 ounces of gold annually with another development property looking to be their third eventual mine. Their Eastern Dragon project now has about 700,000 ounces of gold in ground at 7 g/t with 70 g/t silver.
I follow Sino Gold because I like their president Jake Klein and the way he thinks:
1- Don’t run out of money
2- Meet your forecasts and guidance
3- Make sure you take quality growth opportunities
4- Don’t break rule one
The primary market for Sino Gold is in Australia with other secondary markets in Hong Kong and New York. The NY listing is on Grey Market of the Pink Sheets listings.
Can you just imagine what the Australian market guys or Sino’s president, Jake Klein, thought when they saw that transaction? They probably thought the same thing that I said, someone’s a crook. Not only did the transacted price violate ethics and morals in maintaining a fair and orderly market, it just gave our country another black eye on how we conduct our financial affairs.
The shares are valid. They have our cusip # and are registered to Cede & Co as are all of the “street name shares”. OSTO has been on the Pink Sheets for at least 13 years (when I first started working here). We never were able to sort out the origin of the OSTO listing. The ambiguity (to the best of my limited understanding)with the gray market has to do with the fact that there is no “market maker” and brokers (or other buyers and sellers) are not able to see eachothers “bids” and “offers”.
Rae Bell Arbogast
Corporate SecretaryThank you all for your responses. I see the problem with the person who sold for .001. I can understand how it might be possible to execute a trade with a specific buyer in mind, even yourself in another account, since the shares are so thinly traded. The lack of buyers presents a problem. It would be possible to place a GTC order at a low price to make such actions backfire. I think they run for 60 days or so before they must be renewed.
I had hoped to come to last years stockholders meeting, but a scheduling conflict prevented me from attending. I hope to see you there in June.
Check out the link below for proof that the Pink Sheet crooks do, in fact, have a license to steal.
Check out the chart shown to see what someone did to a poor seller one day on Sino Gold(SIOGF) operating in China. A 22,000 share transaction took place at $0.0877 down from the previous sale at about $2.00 the day before. The next day the stock opened at $2.02 and then was sold down a little. Guess who was selling?
If the second seller received an average of $1.90, that works out to about $40,000 hijacked from the previous day’s seller.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=siogf&sid=0&o_symb=siogf&x=49&y=16
To lj,
Welcome to one of over 1650 individual owners of the Sixteen to One mine and its other precious gold mines in California. The annual shareholders’ meeting is approaching…June 20, a Saturday in Alleghany. Years ago I moved the annual meeting from San Francisco to Sacramento. Then about twenty years ago, thought, “Let’s have the meeting at the mine. That’s what I would want to see as a shareholder instead of a conference room.” Please say hello if you can come. About 200 show up each year.
You asked if the Sixteen to One hope to stay out of regular markets. No. It does not hope, desire or plan to stay out of regular markets. It was a proud member of the Pacific Stock Exchange until its directors shut down the trading machines in San Francisco and closed the doors forever. That was a sad day for many investors and historians as well. In 1995 the company was passing through the American Stock Exchange’s “due diligence” process when a rotten apple snuck in and stopped progress. After the smell cleared much had changes in the gold business, including the beginnings of a lengthy bear market for gold. There is a large recorded history about Original Sixteen to One Mine’s public market on this web site. Its symbol was OAU. Now the symbol is OSTO.
You asked, “Do the shares I purchased exist?” That is a good question for Schwab’s back room department and clearing house. Schwab is a respected brokerage firm. Many shareholders take physical possession of their share certificates for various reasons. There has been speculation as to whether or not the back rooms and clearing houses kept up with the decade of high volume of share transactions.I’m not sure I understand Bluejay’s reference to crooks but will give it a try to flesh out his thinking. A Pink Sheet company is supposed to have a registered market maker. It’s a rule, unlike the Bulletin Board or the gray market. (I still don’t have an understanding of this gray market business.) A registered market makes must execute what the specialists or market makers call an “orderly market” or if he has a true book on the “market size” (bid and ask prices and volume), he can make a match.. That means that a stock should not trade (fluctuate) from $0.0877 from $2.00 and back to $2.02 in a couple of trades. Bluejay wants to know the buyers and sellers because someone either made an obscene profit or suffered a monumental loss. Either way it is not allowed, therefore it was against the rules or crooked. Maybe someone else can help with this.
I can attest to the honesty of trading when the Sixteen was on the Pacific Stock Exchange until the last weeks before it closed. The specialist made an orderly market. Then trading took a questionable path to my perspective. Now, the very limited market the company offers, as a service on its web site, is an honest market. I may not agree with the values of the trades, but it is a true representation of a limited market place. I cannot comment on your specific trade because last time I checked, the company had no market makers to maintain an orderly market. It’s not something I can hire but I have sought them out in the past.
I don’t understand this reference to “pink sheet crooks.” I heard about the Sixteen to One. I have a couple of brokerage accounts. Although TDAmeritrade did not list OSTO, Schwab did. I placed an order, and bought shares. Do the shares I purchased exist? I thought that buying stocks on the pink sheets was legitimate. Since I have never bought a stock from an individual, I would have thought that such deals would be called the grey market rather than the practice of buying through a broker. Does the Sixteen to One hope to stay out of the regular market? I really don’t understand.
Rockroby, you can buy stock. Please look under “stock” on this website to see recent bids and offers or you can try making a purchase of OSTO on the pink sheets.
When will we be able to buy stock in this great gold mine?
Rockroby
Your previous question needs clarification.
Thanks
Any idea when we can start buying
stock on the open market again?Stock goes up to .05 cents and on Friday someone gets 600 shares for .001 ?
Could be the same person or persons who did this a few years ago.
Not sure gold hit a thousand a ounce today,you would think somebody would at least give a dime a shareI know of a bunch of ways to make $5.03 and none of them involve “off-loading-stock-at-any-cost” interest in one of the greatest high-grade gold mines in the world.
The $.0001 a share is the most blatant criminal and unethical transaction yet experienced by this Company. A shareholder and stockbroker with a major brokerage jip-joint immediately notified me of the trade last week. Both of us are trying to get information about the seller/buyer/broker. I AGREE WITH ALL YOUR SENTIMENTS BELOW!
If the selling shareholder held the certificate, the Company could trace ownership and get answers. The shares are likely held in street name with CEDE or some other escrow company. I wrote the broker who keeps me up on pink sheets and suggested it could be a “friendly “ sale between related parties to create a tax loss. If someone wants to defraud the federal government, it could be like this. Tax fraud may be a way to get security investigators attention.
You and I know this is a travesty and so much crap. It makes me pause and wonder about manipulation across the board. The world’s stock markets are no longer carrying out the functions they were built around. They are no more than houses for gamble. Investment is out. Speculation is another topic. I want the ability to speculate. It requires intellect, hard work and commitment. That is how I was raised in California. I chose many years ago to speculate on the gold industry and specifically the Sixteen to One mine. I also chose to commit to the hard work of making it an honest venture. I committed my life.
Over the past thirty years I have witnessed many white-collar chaps abuse the trust they were given by one of the world’s great economic engines, a free, open and legitimate stock market for everyone with the heart and mind for action to join in the fun. You may remember my quote, “In many businesses they are called criminals. It seems in gold mining they are called colorful characters.”
Well, it is not fun anymore. It is not honest and it is not following the established rules of trade. Someone should lose his or her job because of the recent transaction of 50,305 shares at $.00-01 a share. Someone should face a courtroom’s judgment. Let’s work on it together!
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