ESCALA GROUP INC (NASDAQOTH:SPGZ.PK)
A global integrated network of companies in the collectibles market with operations in North America, Europe and Asia as well as on the Internet.
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NICE.
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I hope it wasn't a mistake: the price were so low, and started to rise. If it was a mistake: CRAZY jostlers!
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Its going bankrupt, too much fraud involved. And delisted from the its exchange?
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Before ESCL. The Manning part of the Company is still in Tact. Manning auctions made $ hand over Fist. The stock was over $30 a share less than a year ago. They will pay there dues
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Definitely much more interesting than the S
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The related company, Afinsa, has lost millions to the people that trusted on them. It was part of a scam, and so is Escala....
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Doubling Down
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Nasdaq de-listed and restating several years worth financials = OH YEAH!
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Geez . . . still going down
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I'm probably too late to the game to get the big score, but this is definitely a bankrupt bound company.
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Just catching a free ride to the ground floor!
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are they doing something wrong?? NO
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Run for your lives!
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60% of profits came from deal with Afinsa.......Afinsa was raided by spanish police and is out of business....restated earnings coming out soon, insiders resinging....this thing could get real ugly in a big hurry...
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recent run up caused by short squeeeeeeze.......owner of 65% of company Afinsa insolvent......being liquidated by spanish gov. to pay defrauded investors....
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no info on financials in months, possible delisting,possible fraud,class action lawsuits etc...the list goes on and on oh for those who think this is cheap current pe based on past earnings..future earnings likely to be flat at best more likely negative from all the Alfinsa issues that are too numerous to list here
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insiders fleaing left and right recent run up caused by shorts covering ...look for this to head back to $5 range in a month if not sooner
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Most of their sales came from parent company Alfina of which executives are in prison for pyramid scheme, several of board members for escala were execs at Alfina, many more lawsuits like this one will cost company mucho dinero guilty or innocenthttp://www.lerachlaw.com/lcsr-cgi-bin/mil?case=escala
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this is a dog with fleas as Gordon Gecko says in the movie Wall Street.....I put my time frame as several months only because I strongly believe that is all it will take for this ship to sink...
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I'm taking a huge risk here.
I'm at the tip of the stock chart. Tomorrow will be a big indication of where this stock is going. On one hand, they just rose 90% in one day. On the other hand, they've been having legal troubles for quite some time.
I hope this 90% thing was just insiders crooking their money out before they all go to jail... Or at least something along those lines.
Now be a good company and fall back down 90% tomorrow. Pretty please?
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