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Penny stock thread split

Wally Fairway

By Wally Fairway
in Business and Markets

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Should there be a separate Penny Stonk thread?  

58 members have voted

  1. 1. Speaketh yer mind Surlites

    • Keep everything in the Stonk thread
      12
    • Make a new thread focused on Penny Stonks
      19
    • Whatever RCRanger says is good by me
      14
    • I'm good either way
      8
    • Dickbutt - tree fiddy - OUsux - I just wanted to vote
      4

This poll is closed to new votes

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  • Poll closed on 02/04/21 at 05:00 AM

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RCRanger03

RCRanger03 1049

Posted
Posted
1 hour ago, Trey3216 said:

There is an income limit.  RCRanger may only be able to make the contribution for 2020.  I had a bad year last year, so I'm gonna go ahead and make that contribution now.  Doubt I'll qualify to make a 2021 contribution at the rate things are going.  

Income on realized gains right? I only pulled out about $20k in gains last year, and only about $10k this year. My W2 income I guarantee will not hit any limits lol Looks like married is $200k. What happens if you establish an account and then you exceed that income during a future year? Do you just not get to add $6k? The idea is that I'll never have to add after the initial $12k

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RCRanger03
RCRanger03

Not bad advice, but no worries here. I'm just an internet stranger lol. When I can I'll help put out information about when and where to get in on the bottom floor, or when catalysts look to take it t

CooterBrown
CooterBrown
RCRanger03
RCRanger03

NVSOS is where it gets filed and FINRA is where it is enacted. If/When an R/S is done you'll see it show up here - https://otce.finra.org/otce/dailyList Apparently I got more than just yall into XM

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KYHorn

KYHorn 17246

Posted
Posted (edited)
22 minutes ago, RCRanger03 said:

Income on realized gains right? I only pulled out about $20k in gains last year, and only about $10k this year. My W2 income I guarantee will not hit any limits lol Looks like married is $200k. What happens if you establish an account and then you exceed that income during a future year? Do you just not get to add $6k? The idea is that I'll never have to add after the initial $12k

Yeah, you just aren't able to contribute the 12k that year. Note that you have to have 2 separate accounts for you and your spouse. They can't be joint. 

Edited by KYHorn
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bluto

bluto 4945

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Income on realized gains right? I only pulled out about $20k in gains last year, and only about $10k this year. My W2 income I guarantee will not hit any limits lol Looks like married is $200k. What happens if you establish an account and then you exceed that income during a future year? Do you just not get to add $6k? The idea is that I'll never have to add after the initial $12k

You can setup a rollover Roth account that can be funded then ‘backdoored’ into the actual Roth. Vanguard is walking me through all this jazz currently, decent odds DC closes the loophole in the future
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BTW

BTW 370

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Schwab doesn't charge a fee on the purchase, and the sale side is pennies. I haven't had a transaction rejected at Schwab, but I'm only in 4-5 pennies, and that is down to 2-3 because some have moved out of the penny range.

Another vote for Schwab with the low/no fees. The trading tools suck (although TradingView is better than the standard offering). I currently have 26 open positions in the OTC and have never been rejected a trade.
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LarryTT

LarryTT 26

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Posted
A quick look at her pick history and she either is legit or has enough followers that they affect the stock price the day she posts a pick. Either way, stonk money!

I was with her when she had only 2k followers. Don’t know how the hell I found her but has been sincere and on point. (And easy to follow and understand) It IS getting to the point where there is some group influence on some picks. Has to be an old hedge fund manager YMMV


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Trey3216

Trey3216 15380

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11 minutes ago, KYHorn said:

Yeah, you just aren't able to contribute the 12k that year. Note that you have to have 2 separate accounts for you and your spouse. They can't be joint. 

Up until April 25th, you can put in $6k for 2020 and $6k for 2021.   The only thing about doing the 2021 is that if you clock a few million in gains this year you’d be ineligible to contribute for this year.   So your contribution for ‘21 could be deemed ineligible and you’d have to remove that contribution from the account, and possibly the gains.   

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LarryTT

LarryTT 26

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Posted
Just FYI, TD Ameritrade charges $6.95 per OTC trade. Interactive Brokers charges $0.005 per share for Pro platform or 1% of trade value, $0 for IBKR Lite . I have never had a trade rejected using TD Ameritrade. I don't trade OTC with my IB account due to the $0.005 per share fee. 

I use TD and really like ToS but that 6.95 has got to change. I’ll be checking on that very soon. I’ve heard that you can get it reduced to at least 3.95 as easily as asking in the support chat.


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Brew

Brew 3049

Posted
Posted
41 minutes ago, RCRanger03 said:

Income on realized gains right? I only pulled out about $20k in gains last year, and only about $10k this year. My W2 income I guarantee will not hit any limits lol Looks like married is $200k. What happens if you establish an account and then you exceed that income during a future year? Do you just not get to add $6k? The idea is that I'll never have to add after the initial $12k

Taxable income which would be realized gains on sales whether you pulled the money out or not. Once the Roth is funded, you can continue to fund it going forward if your income allows it. If your income is too high, you can make back door conversions assuming no other traditional IRA’s while the government allows it. You may also look into Roth 401k contributions if you have a work retirement plan as it is a way around the Roth rules also.

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Trey3216

Trey3216 15380

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4 minutes ago, LarryTT said:


I was with her when she had only 2k followers. Don’t know how the hell I found her but has been sincere and on point. (And easy to follow and understand) It IS getting to the point where there is some group influence on some picks. Has to be an old hedge fund manager YMMV


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What’s her handle again?

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KYHorn

KYHorn 17246

Posted
Posted
1 hour ago, RCRanger03 said:

Income on realized gains right? I only pulled out about $20k in gains last year, and only about $10k this year. My W2 income I guarantee will not hit any limits lol Looks like married is $200k. What happens if you establish an account and then you exceed that income during a future year? Do you just not get to add $6k? The idea is that I'll never have to add after the initial $12k

 

37 minutes ago, Trey3216 said:

Up until April 25th, you can put in $6k for 2020 and $6k for 2021.   The only thing about doing the 2021 is that if you clock a few million in gains this year you’d be ineligible to contribute for this year.   So your contribution for ‘21 could be deemed ineligible and you’d have to remove that contribution from the account, and possibly the gains.   

Right, I forgot you were using both years. You could consider using both yours and your wife's contributions for a total of 24k

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Anastasis

Anastasis 23473

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Posted

 

1 hour ago, Brew said:

Taxable income which would be realized gains on sales whether you pulled the money out or not.

Yeah, I wasn't sure RC was onto this distinction with the comment about "pulled out gains", but maybe I misread it.  The stonk sale is the taxable event, not pulling cash out of the account. Which is why haven't it in a Roth where the gains are tax free is so advantageous.  

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Brew

Brew 3049

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Posted

Made notes last night on some things to buy this morning with 1M shares of USMJ being at the top of the list. Fidelity wouldn’t trade it and of course it doubled today. Waiting on funding to hit Schwab, so I can make some purchases that Fidelity will not allow.

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cam4mav

cam4mav 771

Posted
Posted
1 hour ago, RCRanger03 said:

Posted some more PFMS / Samtrade DD https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161680320

machine

I'm about to search reddit and surly for PFMS DD but to add context to your post above, is there a short story version of the play for this?

If I find a good summary I'll go ahead and bump quote it too as I look. 

 

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cam4mav

cam4mav 771

Posted
Posted (edited)

Ok so short story is another shell reverse merger play like TSNP ( -> HUMBL) and XMET ( -> not sure yet exactly)

Another Lazar custodianship like XMET. RC has a type it seems >_<

image.thumb.png.c147f156d3896cf4c38b10b338b90eff.png

image.thumb.png.bef0d43030238444cc3ef097d6e9a8ee.png

So next question is wtf is Samtrade

https://www.samtradefx.com/about-us

image.thumb.png.4eaaeb72da29142c0fd252909692c78b.png

 

 

 

 

plz correct me on anything, that took about 3 minutes of google-fu and about 5 minutes of fighting with surly to multi quote/screenshot 

image.png

Edited by cam4mav
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RCRanger03

RCRanger03 1049

Posted
Posted
5 hours ago, cam4mav said:

Ok so short story is another shell reverse merger play like TSNP ( -> HUMBL) and XMET ( -> not sure yet exactly)

Another Lazar custodianship like XMET. RC has a type it seems >_<

So next question is wtf is Samtrade

https://www.samtradefx.com/about-us

plz correct me on anything, that took about 3 minutes of google-fu and about 5 minutes of fighting with surly to multi quote/screenshot 

That all looks about right. You're correct in that I am a big fan of shell plays. They're just about the only ones that go from triple 0 to a penny. If you like the direction you stay, if not then you take your profits and start over again. They just tend to take a while. I've been in SNVP since the summer 2020, FPVD, PFMS, and XMET since the fall. I wish I was in TSNP from before their R/M news, but I was a medium to latecomer on that one catcing it just after pennybreak because I was too distracted with other plays that ultimately didn't pan out (womp womp). That post penny break entry could be a similar period to what we're entering with PFMS

Samtrade is a growing Forex trading platform that looks to be aggressively expanding outside of it's Asian market. Already has pushed into Australia and Europe. The CEO seems good. We just don't anything about their financials yet. I'm not on board like I was pretty quickly with TSNP, but with more information I could be persuaded to leave a legacy position. Still somewhat wary about a R/S given what the Swiss billionaires in QUTR/BRRN did to me. I had a similar sized position, which has now languished post R/S. All that to say I watching things closer here than I did there

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Wally Fairway

Wally Fairway 5598

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  • Author
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7 hours ago, RCRanger03 said:

Posted some more PFMS / Samtrade DD https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161680320

Oh Shit, just what I need - another message board to follow
LMAO - maybe it's time to ditch the golf board and the Spartan sports board and catch up on this one

Thanks RCR

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Hefeweizen

Hefeweizen 5349

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Posted

On the EV/Battery front I am taking a position in NMGRF which just got approval for a large graphite mine.  Seems like a lot of momentum building around natural resources for batteries.  There is quite a bit of due diligence already on this one but I expect it to be a long term play. 
 

I have not taken any original positions before this one but starting with 2000 shares and then will add if it goes sideways or dips.

 

I know it is not very stonky of me but after the run up in these shells I feel like I have been super lucky.  I’m selling my FPVD and PFMS.

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bluto

bluto 4945

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On the EV/Battery front I am taking a position in NMGRF which just got approval for a large graphite mine.  Seems like a lot of momentum building around natural resources for batteries.  There is quite a bit of due diligence already on this one but I expect it to be a long term play. 
 
I have not taken any original positions before this one but starting with 2000 shares and then will add if it goes sideways or dips.
 
I know it is not very stonky of me but after the run up in these shells I feel like I have been super lucky.  I’m selling my FPVD and PFMS.

Wont talk shit for taking profits and agree the wildass spec has been bountiful returns but I don’t think fpvd as a shell company play, they actually have a full operation and revenue with just recently announcing a new ceo (having used their app recently I gotta say it’s kinda cool concept/product). And pfms seems to be on its way, obviously still nothing official but a lot of smoke.

I understand wariness of shell plays on a snvp or xmet as there’s just nothing major in the pipeline besides share manipulation through the courts, at least that’s my take away.
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RCRanger03

RCRanger03 1049

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24 minutes ago, bluto said:

Sam trade has also sponsored Cardiff city FC for two seasons. Have about 45 employees per LinkedIn. Donated $40k USD to an organization. They have 8,000 customers/clients per a press release.

I’m sitting 800k at .005, I’m adding more ASAP.

Yeah I keep pushing for financials and catch find em. I'd value their marketing alone the last year or two has been 250k - 500k, I've seen multiple donations of 40k or more. If charitable giving is 5% of revs and marketing is 15-20% very conservatively that puts them at ~$2M in revs. My hope is that it's more in the $7M - 10M range

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RCRanger03

RCRanger03 1049

Posted
Posted
2 minutes ago, bluto said:


Wont talk shit for taking profits and agree the wildass spec has been bountiful returns but I don’t think fpvd as a shell company play, they actually have a full operation and revenue with just recently announcing a new ceo (having used their app recently I gotta say it’s kinda cool concept/product). And pfms seems to be on its way, obviously still nothing official but a lot of smoke.

I understand wariness of shell plays on a snvp or xmet as there’s just nothing major in the pipeline besides share manipulation through the courts, at least that’s my take away.

Shell plays at this level are worth your wariness if you're not in low enough or not riding free shares. Take enough profit to feel like it was worth the time you spent on it and the once you are, my advice is to just let it run it's course with what's left. Doing so has put me at nearly 100k unrealized profits in XMET already without as much stress. SNVP still has me wary enough with lack of communication or developments that I think that is going to be what I take mostly out today to start my Roth with if gets back up near $0.02. I'll a couple hundred K shares just incase

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RCRanger03

RCRanger03 1049

Posted
Posted
28 minutes ago, Wally Fairway said:

Oh Shit, just what I need - another message board to follow
LMAO - maybe it's time to ditch the golf board and the Spartan sports board and catch up on this one

Thanks RCR

Word of warning about iHub... it's like 90% chafe. There also is a class of posters that are roving bashers and have protection from the Site administration. I'm a moderator on the PFMS board and been told as much. It's useful for my purposes of posting rambling DD threads and crowdsourcing where to look for information. Also the 10% that is good can really be helpful in finding NEW things that haven't popped yet. 

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CooterBrown

CooterBrown 18039

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Posted
Yeah I keep pushing for financials and catch find em. I'd value their marketing alone the last year or two has been 250k - 500k, I've seen multiple donations of 40k or more. If charitable giving is 5% of revs and marketing is 15-20% very conservatively that puts them at ~$2M in revs. My hope is that it's more in the $7M - 10M range

I’ve seen an estimate of $250K of revenue to support one white collar employee. No idea on the science behind that but it generally works for small companies that aren’t operating in the red or in tight margin businesses. 45 employees = around $11M of revenue.
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RCRanger03

RCRanger03 1049

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Posted
4 minutes ago, CooterBrown said:


I’ve seen an estimate of $250K of revenue to support one white collar employee. No idea on the science behind that but it generally works for small companies that aren’t operating in the red or in tight margin businesses. 45 employees = around $11M of revenue.

Yeah I was thinking the same, but just a hair lower due to them being a rising company and most of their staff including a lot of leadership seems pretty young. I don't know what competitive wages for that kind of work are in Singapore, but maybe @Coelenterate Fuccboi knows.

Looking at the Samtrade business model page it does seem like their revs will grow exponentially with the expansion since they're driven by trading volume. An entry into the US market would be pretty huge.

 

Quote

 

A STP/ECN BROKERAGE

At Samtrade FX there's never a conflict of interest between us and our clients. As a STP/ECN brokerage, clients trades are passed on straight to our liquidity providers; we make only a marginal profit on commissions, which stems from traded volume.

The STP/ECN model is favored by many traders, as firms operating in the STP/ECN model are often able to offer more competitive spreads. STP/ECN brokerages pass many trades on to the liquidity providers who are able to offer very tight spreads due to the huge volumes they are dealing in, meaning under standard market conditions spreads tend to be much tighter.

 

 

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TexasHooch

TexasHooch 5152

Posted
Posted
13 hours ago, LarryTT said:


I use TD and really like ToS but that 6.95 has got to change. I’ll be checking on that very soon. I’ve heard that you can get it reduced to at least 3.95 as easily as asking in the support chat.


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Update us when you do please.  I'm in the same boat.

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RCRanger03

RCRanger03 1049

Posted
Posted
3 minutes ago, bluto said:

RC does your concern about Pfms r/s ease at all based on their outstanding shares being so low for a penny at 97M. Seems like every other penny/shell game is in the billions of s/o

Yes a little, there isn't much need. However even with that SS the last one they tried to merge PFMS with ZOOMOUT immediately filed an R/S with the name change and tanked the stock. I think that was a reason their deal with Lazar fell through.

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