Pre arranged trades
in response to
by
posted on
Feb 21, 2009 04:13AM
Pre arranged trades are very common, especially on the OTCBB. In response to yixter, the shares involved were both bought and sold, as this is the only way possible to complete any trade. Trades always have two sides, a buyer and a seller. It was not coincidental that the seller sold the stock down to the agreed upon price and then the buyer stepped up, and the trade was made.The stock then drifted a little higher after this was done.
We will find out if the purchase or sale was done by one of our large(greater than 5% shareholders) shortly, as they must file a Form 4 with the SEC declaring an increase or decrease in their position.
In response to psyop, you are correct that ABLE gets many overseas orders but IFFCO has their order in with BMOC(Bank Of Montreal) at 0.50, and has bought many shares there in the past.That is why BMOC is always is on the bid at 0.50 and hasn't moved in weeks.
The encouraging aspect of all of this is that weak shareholders are being replaced by stronger ones, who obviously believe that the company has great prospects.