Well, I hate to say it, but technically CPNE is a complete disaster, and this week’s action has swept away any vestiges of hope for a support level to appear. In short, I am now convinced it is impossible to call the bottom on this stock. In my view, this stock will continue to go down until it starts going up- and goes up, closing at higher levels, for a week or two in a row.
Here’s today’s chart:
The last level of technical resistance was $1.44. This is a pretty long term chart, measuring the performance of the stock week by week- not day by day.
The stock has fallen below the very long term weekly 61.8% retracement level, which means there is no end in sight to the fall off. Had the stock held in this area, it could have been a great inflection point for turning back up.
Fundamentally, I have no indication the company is not moving along nicely. Technically, I will no longer even attempt to guess where the bottom is.
If you have recently bought somewhere in here, I would just go ahead and sell it for a small loss, and wait for the bottom.
If you are holding it from higher levels, you have to decide if you want to hold your nose through the technical stench, and hope the company hasn’t fallen on undisclosed hard times, or just go ahead and sell. It’s your money, so the choice is yours. As I have stated, I have no indication the company is doing poorly.
If you’re looking for a culprit to explain the dramatic drop in the stock, a good guess is eFund. There are two main sellers in the recent registration statement- fund manager Jeffrey Feinberg is registering about 2 mllion shares, and eFund is registering about 7 million. Here’s the big difference- Feinberg has a cost basis of $1.90, eFund has a cost basically zero- they just helped put the company together over three years ago. My guess, eFund has figured out a way to pre-sell against their registered shares.
This is just a guess, but they are the only ones out there with enough size to hurt the market this badly and a low enough cost basis to make it pay off for them. Until there are some SEC filings from them, we won’t know.
In summary- I would not open new positions at this time until it is clear the stock has bottomed out. You have to decide what to do with your current position- the choice is yours. Only hold it if you are long term and aren’t going to watch the quote every day. I have no indication there is anything wrong at the company.
Sad, after this stock was so good to us for nine months, but that’s the stock market. I could have published a note saying the stock was even a better buy at these levels, but you read this content because I tell it like it is.
Comments, questions, and general complaints are welcome as always.
I always thought the 61.8% retracement level was the bottom? So is that the same with NIHK then? This is confusing.
Editor: No, it’s not always the bottom. it’s just a high percentage level to pick up stock. If it gives way, that’s usually a signal there are no more levels of support. NIHK is doing just fine.
Regardless of Efund’s cost basis, if the company is performing as well as recently reported results indicate, it would seem an institutional holder would not sell a fast-track growth company at a below market EPS multiple unless they know something retail holders don’t.
Editor: All I can say is 1)- this is not a normal institution- it is one guy who has an agenda, and 2) you could be right- there could definitely be something wrong at the company.
Has anyone been to CPNE’s corporate office? You can tell a lot about a company just by walking around and seeing how busy and enthusiastic they are. They say that there are 96 employees — are their cubicles full of busy people, or is the place just empty? How about interviewing their top 5 customers, to find out how much they like the product and how much they plan to spend in the future? There is something funny going on when the numbers are skyrocketing and the stock price is not.
This reminds me of a scam called Flight Safety back in the late ’70′s or early ’80′s. That company went public without any underwriter due diligence, and they were making up the numbers. The stock never went anywhere despite the numbers looking better and better over time. It turns out that it was a big fraud. Had the underwriters poked around the operation even a little, it would have raised suspicions because they had almost no employees and no customers.
I would be interested to know if anyone has done some recent due diligence on CPNE.
Editor: I haven’t personally been to their offices in two years. However, I can take the liberty of assuming the fund manager who put $9 million into the company at $1.90 probably has. A lot of their phone operations have moved down to Costa Rica, so that would be a tougher trip. Good thought. However, it doesn’t change the pattern technically. Right now, this thing is a mess.
It’s look like, you have lost hope. I have already lost a lot. I know it is my choice to stay long. Is there any hope in staying long?
Editor: Of course there is. Sooner or later, this thing will head back up again. However, I am saying technically all lines of support have vaporized, so there is no telling where the bottom is. If you don’t sell, you have simply become a long term investor. I can’t call the bottom on this one anymore. That’s all.
This stock is a joke!
And it really takes the fun out of the entire stock market. I’m not taking about loosing money – I’m not in too deep and loosing is a part of the game. But if there is no correlation whatsoever between the stocks performance and the company’s I might as well just pick a stock at random, roll a dice and guess if it is going up or down and use some intelligent stop-loss to avoid loosing too much money. The whole challenge is to find a stock that seems to have a good idea that you believe in before others. Being right is a reward in itself. Being wrong is a drag, but as long as you can see where you were wrong you learn from it and try to do better next time. It’s sort of outsmarting the system or at least all other actors. Making money from it makes it even more fun.
If all stocks behave like CPNE I might as well buy lottery tickets. There is no telling if those will pay of either. There is nothing to learn from it, and there is no intellectual reward from winning. I’m so tired of this, but I will just hold it and hope that it eventually gets the attention it deserves. Or at least some bad news to rationally explain the behavior.
Cheers
Editor: No question. Couldn’t agree more, but sometimes these frustrating technical disasters become great opportunities. It will be some time before we find out.
I think we will need to really watch their reported performance. I think we are in for a bad shock. OR, that eFund is the culprit and wants its money.
Notice that as soon as you don’t follow a stock, it hyperventilates. HDY smoked today!!!
BD
Editor: Saw that- just goes to show you never know what is going to happen. One day can change everything.
Guess CPNE is going to get smashed by eFund. Glad I got out when I did.
The market is maddening. The minute one stops looking at a stock, it hyperventilates. HDY is a case in point. Up over 30% today on no really substantive news but somebody must have liked it.
Editor: Just a PR piece on HDY from theStreet.com- very favorable, but I think they have played down the risk side of Guinea, who has still not allowed the company to drill a hole. eFund is just my guess, because it is the only thing that makes sense.
so, hypothetically, if this drop is efund’s fault, it was a necessary evil. once their supply is consumed, we should see a drastic rebound in the price. at this point, two-thirds of the way through Q2, has management given you ANY indication of how things are really going?
Editor: I have heard nothing to make me believe the company is doing poorly. However, there are those who will tell you the market is telling you the company is doing poorly. I just don’t know. I do know all levels of technical resistance have given way, and the no there is no technical way to tell where the bottom is.
When will E-fund release how many shares they have sold and have left? I would love to see that Press Release.
Editor: There is no way to tell until they do an SEC filing, which isn’t due for some time.
How about this scenario?….Efund and/or Jeffrey Feinberg lay a ‘bear trap’ with just sufficient volume to unload some of their shares at smaller profit or even loss to make the retail investors panick and unload their holdings. Isn’t that a smart way to accumulate more shares for even greater profit later? may be the management is keeping their mouth shut to let the early financiers get their due reward?
…may be this is hoping against hope!
Editor: Here’s what I can tell you about that scenario with a great deal of certainty- eFund has a hostile relationship with the company- I don’t know the character of Feinberg’s relationship with the stock trading so poorly. I believe there is almost no chance they would work together. However, I do believe there could be buyers out there just waiting to see how low the stock will go and when the sellers become exhausted. Sellers are playing right into their hands.
The below could certainly be read as evidence that their current business model is coming unstuck and there will be a rocky transition, which the market is forecasting.
“Commerce Planet, Inc. Announces New Strategic Focus on Lead Generation and Data Acquisition
BUSINESS WIRE
GOLETA, Calif.–(BUSINESS WIRE)—-Commerce Planet, Inc. (OTCBB:CPNE) announced today that is has refined its business strategy to transition into a true media company with an increased focus on lead generation and data acquisition. Equipped with its scalable Web 2.0 technology and strong intellectual property, Commerce Plant provides a one-stop portal for high quality lead generation business solutions. ”
Thus, I think we’ll see much lower prices, probably under $1.00.
Paul
Editor: You could certainly be right. I can’t call it anymore. Would you buy it under $1?
I think a lot of people here are panicking. Its unfortunate the price is going down now, but think about this…. this stock has always been volatile and when things get hot money piles in. Right now things are cool, the summer months are right ahead and there isn’t going to be as much money piling in. Later into the year the 4 dollar mark could be met. If we look at where this stock has come from in a short while from $.19 up to over 3 dollars $1.40 isn’t bad. I don’t see it shooting up really high any time soon, but I would comfortably say it will later this year. Not that I would sell now and come in later, because trying to time this event is nearly impossible.
I think the type of investors in this stock are usually looking for a quick bargain. Right now there is no bargain about it. Confidence is going down hill and people start worrying about problems with the company. As we have seen in the past with this stock just because the stock price is low the company can be doing great. Right now share holders just pull there money out for the time being, and when this stock catches fire everyone will jump in again, but I’m not pulling out I’ll wait for it to hit its next high which could be than its last all time high. When this happens I will think about getting out of this stock.
Its just a matter of time, I really think long term this stock looks good it has gotten some good institutional investors, and the more stock Efund and whoever else sells the more stable this stock will become long term. I’m not worrying I’m just waiting.
Editor: A good, sound, long term strategy. My commentary concerns the chart and the technical condition of the stock- it is no longer possible to call the bottom in my view, but these absurdly oversold conditions have turned into great buys on this stock in the past. Let’s hope that pattern repeats itself.
Effectivelly all you are saying is that you dont have a clue…which is hardly surprising as you hav’nt bothered to visit the cy in two years…what then made you recommend the stock in the first place and why do you still say it is worth 4 bucks ? a few weeks ago you stated that the Feinberg investment at 1.92 was great news (by the way, after initial hesitation, the stock did move substantially higher) and now you seem to think it is a negative, also you never mentionned, as far as I know, the EFund issue and as you talk about it now perhaps you could tell us the nature of the problem between managment and this important shareholder, finally, Costa Rica is only a few hours flight from the US, you could be there and back within two days , you could then give your readers the benefit of your INFORMED opinion…for a change…no hard feelings, best, Philippe Marcq
Editor: I don’t need to visit the company- just look at the financial statements. This is not a retail store. Your question about value is almost ridiculous if you have looked at the financial statements. $.18 in EPS in the last two quarters equates to $.36 in annual EPS- show me any other growth stock trading with $.36 EPS for less than $4- I doubt you’ll find one. As far as mentioning anything- I have been covering the positions owned by early financiers for two years now. Your comment is basically absurd. Why don’t you study the financials and tell us what you think the company is worth.
If this is EFunds pounding the stock then they are in violation of affiliate rules. They would be limited to 1% of the outstanding shares in a 90 day time frame. That is roughly 500k shares or 2MM for the entire year. If it is EFunds I would hope that Mike Hill has contacted the SEC to open an investigation. There is no way this is EFunds UNLESS they are breaking the law. I’ve been around the stock market long enough to know that we will soon find out the cause of this, I really hope it isn’t something fundamental with the company. I personally don’t believe it is as they’ve said way too many positive things openly and publicly that they would be looking at a perp walk if this business collapsed and they kept it quiet. Something strange here, we will eventually know the cause. One last thing, the press release yesterday gives me pause and has me thinking that there has been a significant drop in paid customers and or new sign ups.
Editor: Quite correct on the Efund issue. I do believe they could be in violation of the 1% rule, but there is no real telling what is going on here. Perhaps there is a significant drop in subscriber participation- I don’t know. The stock is behaving as if there is. The company is in registration, so they haven’t had much to say. Regardless of what is going on behind the scene, technically this stock is a mess.
I am grateful for your response to my comments of a couple of days ago although disappointed you found them absurd….In my days, admittedly a long time ago, as an analyst at a prominent Wall Street firm, we were all continuously travelling across the nation visiting companies, interviewing management, wandering around plants, factories , offices, shops, etc, etc…a good analyst could litterally “smell” how the business was doing, and I am talking about people of the calibre of Mario Gabelli and the like…as to valuation, what matters is, ofcourse, the “quality” of these earnings and also…past performance is no assurance of future p…. so please, if you are serious about cpne, broaden your horizon, do some wider home work, dig a bit deeper….and maybe even fly away to San Jose….my own prediction, by the way, is that this company is a scam and will trade all the way back to where it was exactly one year ago,
All the best,
Philippe Marcq
Editor: Your day, as was my day a long time ago, was pre Sarbanes Oxley. With the required compliance manual under Sarbox, combined with the current accounting standards, I believe investors can trust the audited financial statements the companies publish. As such, as an analyst, you should be able to evaluate reliable numbers as well as any. So, the only issue is whether the company is doing well now, or if their silence means their business model is taking a turn for the worse. The new FD regs (since your day), make it illegal for people in my position to get an “inside” look at what’s going on at the company. So, even if I visited the company, I doubt I could get a really good look at the way things are going. Remember, this company has evolved to a mainly online transactions, so I would have to get a look at the servers for a real inside view. There are other companies that would lend themselves to a visit – this is not one. The suggestion is good for other types of companies- but not this one. A retail company or restaurant chain would fit this mold where you could speak to the customers.
well, it would be easy to mention the enrons of this world to counter your argument but I will concede that cpne probably does not lend itself to old fashioned graham & dodd type investigation…so all I will say is ” fair enough”…cheers, Philippe Marcq
Editor: Thank you for your contributions. Agree or not, I appreciate everyone who contributes ideas and opinions.
I thought that CPNE is OK based on JFL investment. I assumed that JFL would have looked into deeply the company operation before making the investment decision. Was my thinking flawed?
Editor: Based on the price performance of the stock in the short term, it would seem so. This fund manager can make a mistake like anyone else. Based on trailing company performance, it seems this stock should be a lot higher. I believe the stock is going down because it is going down, and will continue to do so until the company steps up and starts providing the market with some information to allay fears there is something going on in the background we don’t know. With this type of business model, you have to provide the public with more information about what’s going on, or your stock is going to behave like this one is. As I have said, you need to decide if you are long term, or you are going to preserve capital and get out. Technically, I cannot call the bottom on this one. However, I don’t think it’s over. I think this stock will have another lifetime.
Do you know investment performance of J. F. Feinberg? How much assets in his funds does he have? I would like to know how significant his CPNE investment. I would appreciate your response.
Editor: Unfortunately, I cannot access that information as this is a hedge fund, and they have no obligation to report publicly. He only reports to his shareholders. I have never met him. However, he happens to live in Rancho Santa Fe, very close to where I live. I know a number of people who know him. They tell me he is a very smart fund manager and rarely makes big mistakes. Apparently, he is also a bit hard to get along with, so he is probably extremely upset about this stock.
Just a thought as how to evaluate CPNE.
One way to due diligence is to listen to the conference calls and analyze the content and how management answers any questions…I confess that I haven’t done this….yet.
As to my simple technical analysis…the price is below the 200 day moving average and the 50 day average is dropping quickly. There is a lower gap at around .5 from 7/2//06 and could possibly be filled. On the other hand it might not be filled and we could be seeing some support at current levels. Lesson for me is I should have sold when it gapped up at around 3. Just a thought.
Editor: As I have been saying, I can no longer call the bottom on this one. It strikes me the stock will just keep going down until management provides some information or guidance that will allay investor fears. I know they are in registration, but their silence is deafening.
Efund is the culprit
Form 144: Filing to Sell 136030 Shares of CommercePlanet Inc (CPNE)
6:14 p.m. 06/06/2007 Provided by
Jun 06, 2007 (Vickers Stock Research via COMTEX) — Document Processing Date: June 06, 2007
Editor: I have believed they were the main culprit from some time.
Has any one read the
SB-2/A Pre-effective amendment to an SB-2 filing 86 posted on 06/08/07
AT filings http://www.otcbb.com/asp/Info_Center.asp
There is alot of information about the Transactions and risk factors. I bought this thinking it was bottom and based on earning reports.
this is part of the report stated above:
If any has read it or analized it, please feel free to discuss any comments. thanks in advance.
“RISKS ABOUT OUR BUSINESS
WE FACE INTENSE COMPETITION, WHICH MAY REDUCE OUR SALES, OPERATING PROFITS, OR BOTH.
The market segments in which we compete are rapidly evolving and intensely competitive. We have many competitors in different industries, including both the retail and eCommerce services industries.
Many of our current and potential competitors have longer operating histories, larger customer bases, greater brand recognition, and significantly greater financial, marketing, and other resources than we have. They may be able to secure merchandise from vendors on more favorable terms and may be able to adopt more aggressive pricing policies. Competitors in both the retail and eCommerce service industries also may be able to devote more resources to technology development and marketing than we do.
Competition in the eCommerce channel may intensify. Other companies in the retail and eCommerce service industries may enter into business combinations or alliances that strengthen their competitive positions. As various internet market segments obtain large, loyal customer bases, participants in those segments may expand into the market segments in which we operate. In addition, new and expanded web technologies may further intensify the competitive nature of online retail. The nature of the internet as an electronic marketplace facilitates competitive entry and comparison shopping and renders it inherently more competitive than conventional retailing formats. This increased competition may reduce our sales, operating profits, or both.”
Editor: This is standard risk disclaimer language you can find in nearly all SEC filings. By the way, it’s true. Nothing is risk free. If you believe this is new language the company has inserted to claim they told everyone their business was going south, you could interpret this to be the problem. That, coupled with the company’s obvious reluctance to talk about the state of their business, probably contributes to the big sell off.
Has anyone read the SB-2/A Pre-effective amendment to an SB-2 filing posted on june 8
http://www.otcbb.com/asp/Info_Center.asp
I wonder if this answers any questions or doudt. I have not read it all but the stock took a beating today. I am new to this stock based recent earning and thinking it was bottom
Editor: There isn’t anything new to look at on the other end of your link. It just takes you to a quote page at http://www.otcbb.com. Good thing you are new to the stock, because at some point here there is going to be great opportunity to make money on the long side.
dear editor, what do you think? i know your crystal ball is just as clouded as the rest of us, but do you think we could see $.70 or less? I held this (like a moron) from $.50 all the way to $3.48 convinced it was headed over $4.00 and never sold any, just like USEI, i’m way too deep in this one and can’t afford to see all my $$ go down the drain, do you think we will see a dead cat bounce on monday or is this going to continue to make us all sick??!!?
Editor: I’m sorry to say this, but I will repeat what I have been saying continuously. On a technical basis, once the stock fell through the $1.44 level, there was no way of telling technically where the bottom might be. I have no idea how low this stock might go. I do feel this one will have another life. I just can’t say when, but I doubt they have gone from hero to zero over the course of three months. If you choose to hold the stocks through the SSLs, you simply become a long term investor. With CPNE, which has proven itself 5 quarters in a row, it’s a little easier to be long term. With USEI, the company never delivered the goods, and that one makes a little less sense to be long term.
I admit since I got out of the stock I have not kept up with the details of the company. But with the lack of support for the stock seems to me to be (at least temporarily) a lack of confidence for the management to execute the stated business plan. What is your opinion?
Another point on my mind. I have superficially kept up with this company because one of the very few things I know about institutional investors is when their patience will last long enough to assess the effectiveness of management until they move to either replace management or sell the company to an organization who can unlock the value. at that time the stock can gap up. This happens to be what is on my mind what do you think?
Editor: In my opinion the stock is falling apart due to the hostile nature of the relationship with early financiers who own boatloads of stock and the management. I believe eFund is the primary culprit. There is a hostile relationship between Dutchess and the company as well, but the guys at Dutchess aren’t emotional enough to destroy the value of the stock over a little hostility. I wouldn’t be surprised to see the company’s growth to slow down, but I would be surprised if their business has going completely off the rails.
Hello,
1. From the news releases of CPNE on June 1st and any other releases previously, there are no way to indicate the company wrong.
2. This stock seems highly manipulation even though its earnings are good. Its price went down.
3. So, probably someone makes up the stock chart.
4. On 6/8 Friday, the prices went down 15/5% and the close price was $1.09 with volume almost ten times to previous trading day.
Does that mean the stock price in the bottom and ready rebound?
Thanks.
Editor: Once again- as stated in previous postings – for me, the drop through $1.44 was the last level of measurable support. Falling through that level made the bottom impossible to call. Simply stated, I don’t know how low it can go, and it will keep going down until it starts going up. I’ll let everyone know when the stock is starting to show some signs of being ready to rebound, but we are not there yet.
If you look at CPNE in a daily chart you see a perfect Descending Triangle formation. You have the top in February at 3.48, followed by a drop to 1.5 end of March, a rally to 2.37, with another rally to 2.05, before dropping yet again to 1.5, with a tiny bounce up followed by a breakdown below 1.5, with an attempt to return to 1.5, on June 1, followed by this weeks collaspe on much higher volume.
Reading from the 7th edition of Edwards & Magee, I quote: “Development of a Descending Formation hinges upon a campaign by a group or syndicate (often an investment trust) to acquire a large block of shares in a certain company at a predetermined price below the market. Their orders are placed and allowed to stand until executed at that level. If the successive rallies therefrom, which their buying generates, are stifled by new supplies of stock for sale at lower and lower levels (thus creating the typical Descending picture on the chart), orders to buy eventually are filled and quotations break through and on down.”
Editor: A likely scenario here. I have a darn good idea where the supply is coming from, I just don’t know when the buying will surface to match or surpass it.
Quoted from http://www.tatoday.com/Commentary/ArchivedNakedTrades/20020630NakedTrade.htm
“Turning our attention to a more probable scenario, that of the potential Descending Triangle, the calculation is basically the same. You compute a percentage decline from the highest point on the triangle to the support line and then project that forward. In the example given, the calculation is:”
(3.48 – 1.5) / 3.48 = .57
1.5 – (.57 * 1.5) = .645
Thus the potential target is 64.5 cents. Not a pretty picture.
Editor: Could happen. I have no idea. I guess you could look at it two ways. One, if you own the stock is a horrid thought. 2. If you don’t own the stock or want to own more, the $.645 level would be a slam dunk double or triple- easy money. Even if the company’s growth rate is going to slow, it’s value is not going down that fast.
You stated, “…In my opinion the stock is falling apart due to the hostile nature of the relationship with early financiers who own boatloads of stock and the management. I believe eFund is the primary culprit. There is a hostile relationship between Dutchess and the company as well,..”
Would you have any insight into why there is a hostile relationship with Efund and Dutchess? That might provide some insight into why they would be selling or what they think of the company’s prospects.
Editor: I cannot get into the individual personalties and challenges I have been privy to over the past 3 plus years in this public forum. It is not public information, and has nothing to do with the company’s fundamentals. Suffice it to say I have witnessed some hostilities.
Do you have insight regarding management’s unwillingness to hold quarterly conference calls? I feel management has done a poor job to date explaining their business to the investing public. As a result, investors do not have a feel for the company’s future performance. For the past several quarters, the stock has sold off immediately after earnings. It’s difficult to have confidence in the company’s future unless they communicate more openly.
Editor: Succinctly put, and another problem they should be addressing.
The below is further evidence, I think, that their original business model did not work well enough in the long term. Thus, they were unwilling to reveal the retention rate because it was probably in the teens as shown in their relases about ‘new business’. Since that was failing, which the market knew, they have shifted tactics. We’ll see if it works.
BD.
Commerce Planet, Inc. Launches iNeedAGoodDiet.com and VirtualMoneyCenter.com
Tuesday June 12, 10:15 am ET
Two New Web Properties Significantly Expand the Company’s Membership Offering in Health and Financial Service Sectors
GOLETA, Calif.–(BUSINESS WIRE)–Commerce Planet, Inc. (OTCBB:CPNE – News) announced today that its wholly owned subsidiary Consumer Loyalty Group, Inc. (CLG) has launched two new web properties, including iNeedAGoodDiet.com and VirtualMoneyCenter.com. These two web properties place CLG in a strong position to dominate two highly profitable industry verticals, health and fitness and finance by providing pertinent data directly to their consumer users. CLG has leveraged its technology relationship with Commerce Planet wholly owned subsidiary, Interaccurate, Inc. to develop web properties and marketing services designed to intelligently engage consumers with data they actively seek versus a random presentment of non-targeted advertisements. Highly targeted consumer based leads justify a premium in the online media world.
Editor: Perhaps- perhaps not. I believe the problem with this stock is excess supply from hostile shareholders, but their business could be reversing. We’ll see over time.
Hello,
Regarding comment #17, what is the 1% rule? I have tried to research this but I can’t find out any information on the SEC site. Please explain.
Editor: Not sure what you are referencing, but my guess is the 1% rule under Rule 144. Rule 144 is one way to get restricted shares to become free trading. After you have held newly issued shares for one year, you are allowed to get an attorney to provide a legal opinion stating your shares are eligible to be free trading under Rule 144. However, you are limited to getting 1% of the I&O eligible every 90 days. After two years, it becomes 144k, and there is no requirement for a legal opinion and no volume restriction, unless you are a “control person”- more than 10% holder. Then there are some other special rules about how and when you can sell.
CPNE blew what? Hill was nobody from nowhere who used fraud to buy our vote…he never changed the sign in Santa Barbara from New wave,,now that is just bad fraud…maybe Jeff Feinberg and his wife will share a cell with Hill…but in good time and not Cayman time.
Editor: Fraud?- that’s a little aggressive. The audited numbers suggest elsewise- Feinberg was in for millions at $1.90- what makes you think he is not as upset as you are?
Los Angeles Superior Court case no. NC038624…
CPNE, newwave or online…just fraud by Hill
Editor: Please elaborate on this case. There is nothing in the SEC filings about any civil law suits. I don’t know how to look up a case in LA Superior Court.
The court thing is BOGUS. It is a personal issue and has NOTHING TO DO WITH COMMERCE PLANET. This Kenny Hall (nowaydown) clown needs to get a better understanding of the legal system, his own readily apparent psychology, the stock market, and the rules of bashing.
On a positive note, the stock is going up on increasing volume as we move away from what appears to be a triple bottom. The news keeps coming, which is business as usual. Are you in touch with management? If so, please let them know to keep up the great work. Sure we could use more information, but that is always the case…
Thanks for your great site.
Editor: Thanks for your contribution. Indirectly- I did find out the suit, which I believe has been dismissed, was between the company and eFund over their shares. Just bears up what I have been saying about the source of supply and the contentious relationship with eFund.
I’ve been following this thing with all of you for quite awhile. Finally decided to buy just under 1.10 the other day. Looks like a good move. Could we finally be seeing a turnaround?
Editor: I have been feeling that way about this one for some time. However, it is the middle of the summer, and it might grind around on these lows for while until things change. If you have a six month time horizon, now is the time to act without question.