OSTK ceo

Can you explain to me how a CEO can buy and pay for 50m shares, pay 1.8mm and not get a settlement? And then the broker says they can't buy them in because there are no shares available? If Cramer is so good at what he does, why can't they settle the trades? That's all. NO more, no less. Explain that to me, and don't change the subject.

WHy won't you just settle the trades?
 
I wonder if Byrne is feeling a little Overstocked himself. How many shares does he own now?

And what about his "Pop". The guy supposedly bought 200K at the end of August. He has to be showing a paper loss of over $2,000,000! on that buy.
 
Sent: Wednesday, December 14, 2005 10:48 AM
To: Patrick Byrne; Subject: Ostk purchase


Patrick,



Today I have been informed by jOHN dOE at (contrabroker), that the 50,000 Shares of Ostk originally confirmed to have settled on Dec 5th and in the process of being converted from DTC shares to paper, have in actuality not settled and no shares have been received by (Your Broker) from Contrabroker.. The $1.8mm for the purchase of the shares has been debited from your account, but (your broker) has not distributed any money to (Contra) and the funds are being held in a (your broker) holding account.

(As far as I know, no shares have been delivered, but usually what happens is, after it drops hard, they get delivery, very late. Later email says no buy ins happened, because no shares were available, and they would fail. That is, of course, bs. You have to buy in and send a due bill. )



I am in contact with XXXXXX on a daily basis and we will continue to push (Contra) to deliver the shares.

(Third instance. First was Byrne for 50,000, second was Joseph for 8mm worth at around $44. )
)
(The Feds are on this. It is fraud, and a crime.)

For you people still making up your mind, how would you like this to happen to you?
 
You make up an email and claim its real? No real names, no real broker/dealer names, no facts ? You got nothing! One of the bigger brokers lowered their price target on OSTK yesterday to 22, I think. I dont wonder why.

If I make up an email saying I won Lotto for $100 million, will the lottery folks give me a check?
 
Quote from tomcole:

If I make up an email saying I won Lotto for $100 million, will the lottery folks give me a check?
More...

There is a king/prince/ambassodor/Deputy Ministry head in Nigeria that has the check already printed waiting for you to own tell where to wire the money and for a small slice of the proceeds they will even do the paperwork for you.

Doesn't get any better than that.

:D
 
Then don't believe it. Don't care. Just settle the trades. Why is there a Threshold list, by the way. Oh, unsettled trades. I forgot.

Oh Yeah, it's real.
 
Read all my posts. If you think I made up that email, you are one piss poor judge of character.

Byrne is on Fox Cavuto today, if you're interested.
 
Still seems to me that if they were so many naked shorts out there a more savvy player could come in and squeeze the crap out of them. If I were some monster opportunistic style HF that would be my play. Can it possibly be that OSTK has just been a POS from Dec 04-now???
 
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