Category Archive: Microcap

May 22

SEC Announces trading suspension of Eco Science Solutions $ESSI

This morning prior to the market open the SEC issued a trading suspension for Eco Science Solutions (ESSI), which has a market cap of $107 million. SEC trading suspension release (PDF) SEC trading suspension order (PDF) The reason given for the trading suspension: concerns regarding the accuracy and adequacy of publicly disseminated information concerning, among …

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May 12

Pump & dump Global Quest Limited $GLBB receives SEC trading suspension

This morning prior to the market open the SEC issued a trading suspension for Global Quest Limited (GLBB), which has been promoted over the last few weeks and which has risen from $1 to $5.65 to give it a market cap of $56 million market capitalization. SEC trading suspension release (PDF) SEC trading suspension order …

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Apr 28

Broker and OTC market maker Wilson-Davis Co. fined by SEC for Reg SHO violations

In an administrative proceeding released on April 26, 2017, the SEC issued a cease and desist order (PDF) to brokerage and notorious OTC market maker Wilson Davis (Market maker ID: WDCO) for violations of Regulation SHO and ordered the company to pay $235,714.50 in disgorgement of profits and interest thereon and a $75,000 civil penalty. But the headline …

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Apr 17

FINRA fines Scottsdale Capital Advisors $1.5 million

If you have followed penny stocks and pump and dumps for a few years then you know Scottsdale Capital Advisors (hereafter referred to as Scottsdale Capital). They are one of the few brokers left that have continued to allow the deposit and sale of shares in illiquid penny stocks. Larger brokers and discount brokers stopped …

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Apr 17

Ciaran Thornton of BuySellShort.net fined by SEC

One of the more venerable online trading newsletters is BuySellShort.net, run by Ciaran Thornton (@buysellshort on Twitter). I’ve been aware of him for over a decade (though I never subscribed). He has 60,000 followers on Twitter (compared to my 30,000) and has written for TheStreet.com (although his last article was in 2014). He also wrote …

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Apr 13

Recent SEC Trading suspensions of pump & dumps

I have been remiss in not posting much over the last months (and years!). While in 2016 I traded almost no pump and dumps because so few were successful and so few even had decent volume, 2017 has had several successful pumps and now several high-profile SEC trading suspensions of stocks in mid-pump. I look …

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Mar 24

Who is behind Kalani Investments Limited?

[Edit 13 April 2017: a shipping industry magazine article has unmasked the Canadian investors behind Kalani]   Who is behind Kalani? Some rich Canadians, evidently https://t.co/XW4fABTauE || Google cache link: https://t.co/1u6rzUmWIe pic.twitter.com/S4qEwb4FsJ — Michael Goode (@goodetrades) April 7, 2017 Who is behind Kalani Investments Limited? The short answer is I don’t know. I thought it …

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Mar 10

Some good posts on offerings and fundamental research

These come from Auspex Research on Twitter. Follow him. He has no blog but he does occasionally post longer thoughts on Twitlonger. A Gevo Inspired Twitlonger (10 June 2016) When A+B = D (17 November 2016) Realtime Analysis using Twitlonger (22 November 2016). Disclaimer. No position in any stocks mentioned and I have no business …

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Dec 02

Dan & Carol Get busted!

Here is a nice investigation into the former stock promoters Dan Ryan, Carol McKeown, Eric Van Nguyen, and money man Tony Papa. Keep in mind that Dan and Carol, while coming off as sympathetic figures, ran a stock promotion business and are alleged to have violated US laws. Before the SEC sued them I alleged …

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Nov 18

Catalysts in the trading of bankrupt companies and why Republic Airways $RJETQ is going to zero

The rule of thumb in bankruptcy is that 90% of the time shareholders get completely wiped out. Maybe 8% of the time shareholders get a tiny bit of equity in the new (post-bankruptcy) company or out of the money warrants to buy that equity. Only 2% of the time or less do shareholders get a …

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