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The SEC has temporarily halted trading of Neuromama Ltd.

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

#91

Post by downandout »

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…

This is called a short squeeze. It's done all the time and is not illegal. Pumping the stock up at first through manipulative transactions is illegal, but not all overvalued stocks get that way through illegal means. If you have an overvalued stock and short sellers move in, conducting a short squeeze against those sellers is not by itself illegal and can be an effective way to encourage short sellers to stay away from the stock.

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

#92

Post by wwwdonohue »

jupiter90000 wrote: post #68
syassami wrote: post #9

For comedic gold visit http://investor.neuromama.com/

Here's the "CTO" who appears to be a poorly paid actor reading from cue cards: https://youtu.be/g66rO79QL9w

Their YouTube videos are all amazing. Here's one particularly fun transition: https://youtu.be/g66rO79QL9w?t=9m34s

Stick with it for a few minutes and you can listen to him describe heavy ion fusion in terms of an "angel the size of Los Angeles that runs off nuclear power" while inexplicable jet-skiing videos play in the background.

Edit: Eight minutes later and water sports are still playing behind him. He's talking about Mt. Kilimanjaro now.

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

#93

Post by lifeisstillgood »

(Sorry bout this folks - just trying to wrap my head around it)

What we seem to know and the unanswered questions:

- this seems to be an atrociously bad startup (their "search engine" proxies Google but can be easily tripped)

- it seems to have been a genuine IPO (2000???) that then failed (see search engine) and yet the outstanding shares trade OTC (between large institutions privately - a very common method)

- the scam that seems to be happening is curious (See good explanation about Eve down thread). The idea is bad scammers can trap genuine hedge funds into a short squeeze on this very rarely traded stock. But no sane hedge fund will short the stock without also buying a call option - and so it seems only insane hedge funds get ripped off here.

My questions:

Why on earth are these stocks still lying around and being traded OTC. This seems the sort of thing that would never get allowed on any genuine exchange (the company could barely fulfill minimum reporting requirements)

Why did anyone take this as a "naked short"? Options trading is risk risk risk and people do this for a living aren't fools. Are they?

Even if this got public in the dotcom boom, why is such a scammy company still allowed to operate with outstanding shares ? I mean they have only just halted trading on a company that proxies Google ... Why give the imprimatur of SEC over the past few years to such crap?

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

#95

Post by Cyph0n »

reagan83 wrote: post #60
TazeTSchnitzel wrote: post #24

Earlier quoted context omitted.

There's… a 17-minute rant about Google being bad? https://www.youtube.com/watch?v=ok-8uVR4Pa0 Note the fake NASDAQ symbol. I only watched 5 minutes of it. Interestingly, Neuromama.com does indeed return Microsoft as the top result for "computer software": https://neuromama.com/get/web/computer+software But the rest is the same as Google.

Here's the Neuromama Recruitment Video: https://www.youtube.com/watch?v=tZhI5zRJ8zw Wow.

A 30 minute recruitment video? This belongs on /r/deepintoyoutube.

Actually, I just posted it.

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

#96

Post by Cyph0n »

gragas wrote: post #50

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…

> Of course, it no longer will be NeuroMama.com search engine .... it will be APPLE Search Engine.

Of course.

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

#97

Post by ipsin »

wwwdonohue wrote: post #92
jupiter90000 wrote: post #68

Earlier quoted context omitted.

Here's the "CTO" who appears to be a poorly paid actor reading from cue cards: https://youtu.be/g66rO79QL9w

Their YouTube videos are all amazing. Here's one particularly fun transition: https://youtu.be/g66rO79QL9w?t=9m34s Stick with it for a few minutes and you can listen to him describe heavy ion fusion in terms of an "angel the size of Los Angeles that runs off nuclear power" while inexplicable jet-skiing videos play in the background. Edit: Eight minutes later and water sports are still playing behind him. He's talking…

I think he's saying "imagine an engine the size of Los Angeles airport", but it's basically "imagine something this company is not going to do".

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

#98

Post by astronautjones »

reagan83 wrote: post #60
TazeTSchnitzel wrote: post #24

Earlier quoted context omitted.

There's… a 17-minute rant about Google being bad? https://www.youtube.com/watch?v=ok-8uVR4Pa0 Note the fake NASDAQ symbol. I only watched 5 minutes of it. Interestingly, Neuromama.com does indeed return Microsoft as the top result for "computer software": https://neuromama.com/get/web/computer+software But the rest is the same as Google.

Here's the Neuromama Recruitment Video: https://www.youtube.com/watch?v=tZhI5zRJ8zw Wow.

This is incredible. https://www.youtube.com/watch?v=hreCQlJB7bE

He says "adventure capitalists" more than a few times, then appears to be possessed

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

#99

Post by [deleted] »

wwwdonohue wrote: post #92
jupiter90000 wrote: post #68

Earlier quoted context omitted.

Here's the "CTO" who appears to be a poorly paid actor reading from cue cards: https://youtu.be/g66rO79QL9w

Their YouTube videos are all amazing. Here's one particularly fun transition: https://youtu.be/g66rO79QL9w?t=9m34s Stick with it for a few minutes and you can listen to him describe heavy ion fusion in terms of an "angel the size of Los Angeles that runs off nuclear power" while inexplicable jet-skiing videos play in the background. Edit: Eight minutes later and water sports are still playing behind him. He's talking…

[deleted]
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