OT: PAIM rumored to be halted

[macollie]

just got back in from golfing...paim halted on monday? what does that mean for us???

[spaz]

Hmmmm, looks like they're doing a CMKX sting. Next step: revocation

[gtajim]

Where did you hear this?

[Deleted]

macollie said:

just got back in from golfing...paim halted on monday? what does that mean for us???

Macollie...where are you hearing this information? tia

- Twintwo

[Lynn]

I tell you.... I am the kiss of death. I just bought some today!!!!



Lynn

[macollie]

raging bull..i quick glanced at some posts there. something about 90% restriction on shares and halting of trading monday. let me go back and read. hopefully someone posted with more detailed info...

[Deleted]

lynn said:

I tell you.... I am the kiss of death. I just bought some today!!!!



Lynn

QUICK...take your kiss back!

[drumfreak]

lynn said:

I tell you.... I am the kiss of death. I just bought some today!!!!



Lynn

Me too Lynn... only 85,000 shares though. Hopefully, they'll follow PAIV's footsteps and have a huge run-up too....

[golden1101]

This is initially what they did . . .


Pearl Asian Mining Industries (PAIM) Issues Clarification on 90% Buyback of Its Common Shares and Conversion of Debentures to Common Stock; Also Announces a Visit by USA Shareholder to the 'Operation Cagayan De Oro' Gold Minesite

By BusinessWire
Last Update: 7/12/2006 3:35:11 PM
Data provided by

MANILA, Philippines, Jul 12, 2006 (BUSINESS WIRE) -- Pearl Asian Mining Industries, Inc. (PAIM) announced that it is close to completing the buyback of approximately 27,000,000,000 or 90% of its issued and outstanding common shares using a convertible debenture (CD). PAIM has transferred to DTCC CD notes with a face value of approximately US$27,000,000.00 which DTCC received approximately June 21, 2006. However, PAIM has not received any of the 27,000,000,000 common shares subject of the buyback.

DTCC should be in the process of sending to PAIM 90% of the common and outstanding shares in exchange for the CDs. Although PAIM has set the buyback/exchange date for June 15, 2006, some confusion has occurred as the brokerages seem to have not been sufficiently informed by their clearing houses via DTCC to segregate 90% of all common shares held. As a result, some brokerages have erroneously included in the buyback shares purchased after the buyback/exchange date of June 15, 2006. In view of this, PAIM is advising all shareholders to check their accounts and immediately bring to their brokers' attention any discrepancies or errors.

Any shares bought and sold in the market now should only be the remaining 10%, although some of DTCC's participants, i.e. brokers, have failed to notify their clients, which has resulted in many shareholders selling shares short, which they thought were still available from the 90%. Pearl Asian advises shareholders who may have unintentionally sold short on PAIM shares to immediately contact their brokers to work out a way to cover their positions. These shares sold short will be fully known once the first report after the new NASD SHO Regulation, which includes Pink Sheet stocks and took effect July 3, is released within the month. The remaining 10% of common shares in shareholders' accounts should be available for trading at any time.

To reiterate, the buyback rate is that for every common share surrendered, Pearl Asian will pay $0.001, the par value of the common shares in the form of convertible debentures, when held to the maturity of five years. The CD is to be paid on the fifth year without interest. The debentures can be converted back to common shares at a fixed rate of $0.01 per share at any time on or before maturity, upon surrender of the original CD note to the company or its transfer agent. Shareholders' accounts should indicate the value of the CD, with the proviso that said value will mature after five years.

We expect the CD to begin trading OTC on the Yellow Sheets in the near future and there should be no restrictions on selling or trading CDs after the exchange is completed.

In an unrelated development, Pearl Asian announced the availability of photos involving the visit of a shareholder to the Binasan Minesite. Visit the website at www.PearlAsianMining.com for updates and photos on Operation Cagayan de Oro including the visiting shareholder.

[macollie]

couldnt find any info on the restricted shares. but i think the halted part was just a basher spewing nonsense.

[macollie]

thanks golden

[atcguy]

lynn said:

I tell you.... I am the kiss of death. I just bought some today!!!!



Lynn

No Lynn, I bought some also which explains it all. If anyone has a hot stock play they need to pay me to stay out of it. That will ensure it goes up and I'll make some money also. Win win situation.

[Lynn]

atcguy said:

lynn said:

I tell you.... I am the kiss of death. I just bought some today!!!!



Lynn

No Lynn, I bought some also which explains it all. If anyone has a hot stock play they need to pay me to stay out of it. That will ensure it goes up and I'll make some money also. Win win situation.

atc: we'll have to fight for that distinction! There is a joke () in my office. I am supposed to warn the others if I am going to invest in something and give them an opportunity to sell out. Fortunately, I'm the only penny stock investor.

Lynn

[gusjarvis]

I wonder how many other halts are coming!

[senna]

PAIM is not HALTED they issued a 27B Convertible Debenture and traded heavily right up to close today. The float is now 3B and had changed hands so it should trade hard on Monday.

You should do a little DD before making such a statement because I have read about 4 other boards tonight and strangly you were the only one that said it was? ummmm

[anyaliasnow]

senna said:

PAIM is not HALTED they issued a 27B Convertible Debenture and traded heavily right up to close today. The float is now 3B and had changed hands so it should trade hard on Monday.

You should do a little DD before making such a statement because I have read about 4 other boards tonight and strangly you were the only one that said it was? ummmm

woah...I think macollie made an honest mistake...that's all. IMHO.

[macollie]

i started this thread to question if paim was in fact halted. i did not mean to say that it was...if anyone interpreted that way i apologize... a couple posters on the raging bull made statments that it was but those posters also were very negative so i assume now it was empty basher statements...

i am heavily invested in paim so dont think that i am trying to bring the stock down...a lil momentum on this stock and emotions are getting lil out of control! sorrry to cause such an uproar-

[macollie]

gluggo said:

I OWN PAIM SHARES! SORRY BUT THERE ARE NO HONEST MISTAKES WHEN YOU ARE DEALING WITH MY MONEY. THIS THREAD NEEDS TO BE DELETED OR CHANGE THE HEADING. MONDAY IS A TRADING DAY AND IF THIS CAUSES 1 SHAREHOLDER TO LOOSE MONEY (BECAUSE OF A HONEST MISTAKE) THEN THIS BOARD IS RESPONSIBLE.

anyaliasnow said:

woah...I think macollie made an honest mistake...that's all. IMHO .

i changed my title...like i just posted i did not mean it make this as a statement but as a question. but in response to your post, no BOARD is ever resopnsible for anyone losing money-if one invests then one should do proper dd and not let any postings on any board persuade one to do anything one is not comfortable with. regardless sorry to cause such a problem ...

[wwjdthrume]

Hi Gluggo, We need to switch to decaf. I also did a WHAT!?! figures! Shorty is in trouble and a halt is the usual consequence of the SEC trying to help their friends at the expense of retail investors.

BUT...Since this was actually a reaction from what was seen on RB this board would hardly be responsible for trying to get to the truth of the matter.

Decaf tastes the same and it might be helpful.


IMO-Debi

[TexasPride]

Perhaps we should move this thread to "Off-Topic" before someone has a complete melt down and says something they might regret.