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[quote author="socalmd" date=1226123944]Take a look at GLGT.PK EXTREMELY HIGH RISK. But could be high reward. They are an RFID startup and right now they are trying to build a solid company. I know the principle players and am in contact with the company on a regular basis. Currently PPS is .01 and Market Cap of 1 million dollars. I own about 5 million shares.

Again, I do not recommend buying, especially if you can't stomach wild swings in the stock price. This is definitely the 'lottery ticket' portion of my portfolio. But it could be fun to have a contest with everyone giving their stock pick and see who's ahead after 6 months. Anyone game?</blockquote>


Jesus. A 0.01$ stock. Well I guess there's no question it can't go any lower unless it goes bankrupt. So it's 100% loss or 100% gain. Or more I guess.
 
[quote author="muzie" date=1226123421]

These are good as trading vehicles, but the amount of slippage due to the price series is so great you can't do more than intraday.</blockquote>


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.
 
[quote author="tenmagnet" date=1226125304][quote author="socalmd" date=1226123944]Take a look at GLGT.PK EXTREMELY HIGH RISK. But could be high reward. They are an RFID startup and right now they are trying to build a solid company. I know the principle players and am in contact with the company on a regular basis. Currently PPS is .01 and Market Cap of 1 million dollars. I own about 5 million shares.

Again, I do not recommend buying, especially if you can't stomach wild swings in the stock price. This is definitely the 'lottery ticket' portion of my portfolio. But it could be fun to have a contest with everyone giving their stock pick and see who's ahead after 6 months. Anyone game?</blockquote>


A market cap of $1M is rather low.

That?s less than a home in Irvine

Are you sure these guys are well capitalized?

Maybe you could arrange for a private placement, would $250K buy me a seat on the board.</blockquote>






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!
 
[quote author="muzie" date=1226132817][quote author="socalmd" date=1226123944]Take a look at GLGT.PK EXTREMELY HIGH RISK. But could be high reward. They are an RFID startup and right now they are trying to build a solid company. I know the principle players and am in contact with the company on a regular basis. Currently PPS is .01 and Market Cap of 1 million dollars. I own about 5 million shares.

Again, I do not recommend buying, especially if you can't stomach wild swings in the stock price. This is definitely the 'lottery ticket' portion of my portfolio. But it could be fun to have a contest with everyone giving their stock pick and see who's ahead after 6 months. Anyone game?</blockquote>


Jesus. A 0.01$ stock. Well I guess there's no question it can't go any lower unless it goes bankrupt. So it's 100% loss or 100% gain. Or more I guess.</blockquote>




No way! There a literally hundred of startups, shells etc trading well below .01 a share.



some are .001 .0001 and even .0000001!
 
[quote author="socalmd" date=1226214313][quote author="muzie" date=1226132817][quote author="socalmd" date=1226123944]Take a look at GLGT.PK EXTREMELY HIGH RISK. But could be high reward. They are an RFID startup and right now they are trying to build a solid company. I know the principle players and am in contact with the company on a regular basis. Currently PPS is .01 and Market Cap of 1 million dollars. I own about 5 million shares.

Again, I do not recommend buying, especially if you can't stomach wild swings in the stock price. This is definitely the 'lottery ticket' portion of my portfolio. But it could be fun to have a contest with everyone giving their stock pick and see who's ahead after 6 months. Anyone game?</blockquote>


Jesus. A 0.01$ stock. Well I guess there's no question it can't go any lower unless it goes bankrupt. So it's 100% loss or 100% gain. Or more I guess.</blockquote>




No way! There a literally hundred of startups, shells etc trading well below .01 a share.



some are .001 .0001 and even .0000001!</blockquote>


Yikes! <a href="http://biz.yahoo.com/e/081001/glgt.pk10ksb_a.html">Take a look at the summary of their most recent 10k!</a>



<strong>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. </strong>



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)
 
[quote author="blackvault_cm" date=1226234538]First I can't believe you guys are actually considering trading penny stocks...

Whats worse...is some actually doing research on them.

Socalmd is on the money... You think a stock can't go below a penny? Try .000001



You would have more success spinning a wheel and buying a random stocks call option or put option.</blockquote>


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.
 
[quote author="WINEX" date=1226237104][quote author="blackvault_cm" date=1226234538]First I can't believe you guys are actually considering trading penny stocks...

Whats worse...is some actually doing research on them.

Socalmd is on the money... You think a stock can't go below a penny? Try .000001



You would have more success spinning a wheel and buying a random stocks call option or put option.</blockquote>


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.</blockquote>


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?
 
[quote author="blackvault_cm" date=1226240084][quote author="WINEX" date=1226237104][quote author="blackvault_cm" date=1226234538]First I can't believe you guys are actually considering trading penny stocks...

Whats worse...is some actually doing research on them.

Socalmd is on the money... You think a stock can't go below a penny? Try .000001



You would have more success spinning a wheel and buying a random stocks call option or put option.</blockquote>


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.</blockquote>


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?</blockquote>


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.
 
[quote author="WINEX" date=1226237104][quote author="blackvault_cm" date=1226234538]First I can't believe you guys are actually considering trading penny stocks...

Whats worse...is some actually doing research on them.

Socalmd is on the money... You think a stock can't go below a penny? Try .000001



You would have more success spinning a wheel and buying a random stocks call option or put option.</blockquote>


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.</blockquote>








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.
 
[quote author="blackvault_cm" date=1226234538]First I can't believe you guys are actually considering trading penny stocks...

Whats worse...is some actually doing research on them.

Socalmd is on the money... You think a stock can't go below a penny? Try .000001



You would have more success spinning a wheel and buying a random stocks call option or put option.</blockquote>








or you might have more luck buying a blue chip like Lehman Brothers or Wachovia
 
[quote author="WINEX" date=1226240452][quote author="blackvault_cm" date=1226240084][quote author="WINEX" date=1226237104][quote author="blackvault_cm" date=1226234538]First I can't believe you guys are actually considering trading penny stocks...

Whats worse...is some actually doing research on them.

Socalmd is on the money... You think a stock can't go below a penny? Try .000001



You would have more success spinning a wheel and buying a random stocks call option or put option.</blockquote>


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.</blockquote>


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?</blockquote>


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.</blockquote>








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.
 
[quote author="socalmd" date=1226248818][quote author="WINEX" date=1226237104][quote author="blackvault_cm" date=1226234538]First I can't believe you guys are actually considering trading penny stocks...

Whats worse...is some actually doing research on them.

Socalmd is on the money... You think a stock can't go below a penny? Try .000001



You would have more success spinning a wheel and buying a random stocks call option or put option.</blockquote>


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.</blockquote>








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.</blockquote>


The 10K i pulled that information from was filed on 10/3/08.
 
[quote author="blackvault_cm" date=1226235073][quote author="jefa" date=1226198536]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.</blockquote>


GM and Ford are horrible companies. You are right in a way as in it will go up if a bailout happens, however not skyrocket rather a 10-15% increase. This isn't the first time government has given them money, and yet they are still doing bad. Consumer spending has slowed down and will continue to do so and these garbage companies will continue to stay garbage. All the bailout will do is prolong their death.



If you think Ford will go from 2 a share to 8, you are mistaken. If you think it will go from 2 to 3, then maybe. However thats a 33% increase and there are HUNDREDS of companies right now that can easily rebound 33% without the added risk.</blockquote>


See, I'm no good at gambling. If I was going to buy a stock just because I like it, I'd buy Amazon and Costco. You guys think I should buy into those for my sons college fund? Or just keep the money in a cd? My son is three.
 
[quote author="jefa" date=1226286235][quote author="blackvault_cm" date=1226235073][quote author="jefa" date=1226198536]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.</blockquote>


GM and Ford are horrible companies. You are right in a way as in it will go up if a bailout happens, however not skyrocket rather a 10-15% increase. This isn't the first time government has given them money, and yet they are still doing bad. Consumer spending has slowed down and will continue to do so and these garbage companies will continue to stay garbage. All the bailout will do is prolong their death.



If you think Ford will go from 2 a share to 8, you are mistaken. If you think it will go from 2 to 3, then maybe. However thats a 33% increase and there are HUNDREDS of companies right now that can easily rebound 33% without the added risk.</blockquote>


See, I'm no good at gambling. If I was going to buy a stock just because I like it, I'd buy Amazon and Costco. You guys think I should buy into those for my sons college fund? Or just keep the money in a cd? My son is three.</blockquote>


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.
 
<blockquote>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.</blockquote>


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.
 
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