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The SEC has temporarily halted trading of Neuromama Ltd.

bloomberg.com

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Re: The SEC has temporarily halted trading of Neuromama Ltd.

#41

Post by rhizome »

thegranderson wrote: post #32
Animats wrote: post #3

Trading was just halted in Neuromama (OTC:NERO), a startup with a $35 billion market cap. They have a search engine ( https://neuromama.com/ ), a social network ( http://vica.life/ ), and claim "heavy ion fusion" and oceanfront property in Mexico. The CEO got out of prison 6 years ago. WTF?

Very helpful explanation from a thread about this on reddit (narrated from the first person perspective of the scammer): It's pretty beautiful in an illegal sort of way: So the clever short sellers borrow and sell 100,000 shares of stock at $2 each, hoping to profit when it crashes to zero. By hypothesis, there are no buyers. But we buy. We buy those 100,000 shares for $2 each, laying out $200,000. Now we own 300.1 m…

Sounds like what SCOX was speculated to be doing on their way down the chute during the IBM suit.

Re: The SEC has temporarily halted trading of Neuromama Ltd.

#43

Post by celias »

thegranderson wrote: post #32
Animats wrote: post #3

Trading was just halted in Neuromama (OTC:NERO), a startup with a $35 billion market cap. They have a search engine ( https://neuromama.com/ ), a social network ( http://vica.life/ ), and claim "heavy ion fusion" and oceanfront property in Mexico. The CEO got out of prison 6 years ago. WTF?

Very helpful explanation from a thread about this on reddit (narrated from the first person perspective of the scammer): It's pretty beautiful in an illegal sort of way: So the clever short sellers borrow and sell 100,000 shares of stock at $2 each, hoping to profit when it crashes to zero. By hypothesis, there are no buyers. But we buy. We buy those 100,000 shares for $2 each, laying out $200,000. Now we own 300.1 m…

Sounds like the plot of the "Ties That Bind Us" episode of the BBC show Hustle from 2006

Re: The SEC has temporarily halted trading of Neuromama Ltd.

#45

Post by jonah »

What is this[1]?!

"To fully understand the difference between our Business Opportunity ad and all the other business opportunity ads you've been reading, the first thing you must know is that we are offering an overflowing profit palette of business 'opportunities', not just a single business 'opportunity.'..."

Plus 30 more paragraphs of similar madness.

[1] http://investor.neuromama.com/licensing-territories.html

Re: The SEC has temporarily halted trading of Neuromama Ltd.

#46

Post by elevensies »

ChuckMcM wrote: post #38
thegranderson wrote: post #32

Earlier quoted context omitted.

Very helpful explanation from a thread about this on reddit (narrated from the first person perspective of the scammer): It's pretty beautiful in an illegal sort of way: So the clever short sellers borrow and sell 100,000 shares of stock at $2 each, hoping to profit when it crashes to zero. By hypothesis, there are no buyers. But we buy. We buy those 100,000 shares for $2 each, laying out $200,000. Now we own 300.1 m…

This sounds pretty amazing but I can't figure out bindings for all the pronouns. Who are the short sellers? Who are the brokers? are they complicit? Is one of them acting as the market maker for the stock? When the con is exploded and the money gets paid back, where did it come from? The short sellers? the brokers? thin air?

This is a typical short squeeze. ( https://en.wikipedia.org/wiki/Short_squeeze ) [ With the caveat that I'm far from an expert on this, I just have a collection of documents of many failed corners and very few successful corners. ]

The short sellers are anyone with a negative outlook on the stock. For example, some hedge funds do 50% buying, 50% short selling, so in theory they are neutral to overall market conditions.

The brokers in this case have been permitted to lend out the stock to earn extra money, the short sellers are ordinary customers of the brokers, the short sellers don't necessarily have any special relationship with the brokers.

The market maker would be buying as much as selling, and not holding any position over extended time, so they don't influence this event.

In theory, the short sellers have to pay up to meet their obligations.

Re: The SEC has temporarily halted trading of Neuromama Ltd.

#48

Post by pplante »

hashmymustache wrote: post #40
ElliotH wrote: post #22

Read the (Important Disclosure) pdf at the bottom of http://investor.neuromama.com/ - It's amazingly crazy.

Here: http://investor.neuromama.com/uploads/2/4/6/9/24695823/impor... It's a 68 page, haphazardly stitched mess of documents. Can't say they're not confident in their product: From page 37: "NeuroBrowser of NeuroMama.com is the best, easiest to use, and blocks all kind of viruses and pop-outs on your screen...In 2 years the NeuroMama stock will be the most popular and will make NeuroMama shareholders and employees ve…

The best description I can find of this "company" lies on page 37: "https://neuromama.com/ - Search Engine based on Artificial Technology....."

Re: The SEC has temporarily halted trading of Neuromama Ltd.

#49

Post by theyoungestgun »

thegranderson wrote: post #32
Animats wrote: post #3

Trading was just halted in Neuromama (OTC:NERO), a startup with a $35 billion market cap. They have a search engine ( https://neuromama.com/ ), a social network ( http://vica.life/ ), and claim "heavy ion fusion" and oceanfront property in Mexico. The CEO got out of prison 6 years ago. WTF?

Very helpful explanation from a thread about this on reddit (narrated from the first person perspective of the scammer): It's pretty beautiful in an illegal sort of way: So the clever short sellers borrow and sell 100,000 shares of stock at $2 each, hoping to profit when it crashes to zero. By hypothesis, there are no buyers. But we buy. We buy those 100,000 shares for $2 each, laying out $200,000. Now we own 300.1 m…

Famous example with Porsche: http://www.nytimes.com/2008/10/30/business/worldbusiness/30i...

Re: The SEC has temporarily halted trading of Neuromama Ltd.

#50

Post by gragas »

I found this on the "Special Password Protected Area for Original Baja California Investors" page:

> Why would it make sense for APPLE Computers to acquire NeuroMama, Ltd.

> (1) If APPLE acquired NeuroMama, Ltd. it could potentially generate $100 billion, by selling advertising, in new revenues per year within 5 years by replacing GOOGLE with Neuromama.com’s Search Engine based on Neural Technology in APPLE's browser - SAFARI. Of course, it no longer will be NeuroMama.com search engine .... it will be APPLE Search Engine.

...what?

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