IEAM

[eliteG]

Can't trade this one 

May be the split is a reason .

It could be due to the split and the name change.  The stock is definately tradeable but it seems some others are having this issue as well(lower volume).. Check with your broker and make sure they set you up!

The stock is performing nicely after this split and name change up +7% 

[alien41]

My broker(Scottrade) told me that my shares will not be available untill Wednesday.    This is definitly a bummer as I would have loved to made a trade today.  IEAM seems to be holding up well so I'm hoping I will not have missed out. 

GLTA....Alien

[Loffigus]

My broker (ameritrade) said my shares are tradable Tuesday.

[eliteG]

update IEAM(ILNP):

IEAM had its reverse split(1:10) and name change(from ILNP) today.  The stock opened up and some traders found they were unable to trade the stock because their brokerages were not up to speed.  We will see how this affects the stock.  Now we await the announcement of an exchange listing.  The stock finished higher and did get above average volume..but we did see some selling pressure.  Lets see what we get tomorrow. 

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Position: bought IEAM @ 7.50 on 06/02/2006
Order: Hold
Exit: n/a
Target: n/a
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[tokyopua]

I was really  shocked for a second this morning to look at my account balance on etrade and see I was down something like $8000!!! Good thing I dont have a heart condition... they just show the old symbol and its basically valued at zero in my account... really kind of kludgy, would be intrested to know how it looks for those of you with Ameritrade, etc.

[stocky]

For Scottrade atleast I know you can still trade over the phone [in cases like this] and the only thing that goes with it is that they warn you about the change in symbol stuff. I had the same experience with GTE. So forget about trading on Wed, just check with your local Scottrade branch over there current policy and fees.
Goodluck all.

[ygtrdr]

My Ameritrade balance shows the original entry price and shares held but no updated balance relative to the change.

[Stocky2000]

At ameritrade the symbol dissapeared....its written N/A

[Loffigus]

I called and talked with Ameritrade - until your trade settles you may not trade the stock online, but you can make broker assisted trades until then.  Since most of us bought on 06/02/06 the trade settles on 06/07/06 making it tradable on 06/08/06 over the internet.

[boatguy]

Not in this one but have been through a couple reverse splits.

I have etrade and also have had the problem of not being able to trade for several days after a split. Frustrating if the stock goes down which is usually the case. The saving grace as far as etrade is concerned is that if you already have a stop in place it will still reflect the change in pps and will still trigger if stop is reached.

I also get a 20$ reorganization fee- in my opinion it is not worth holding through a reverse split.

[raspi]

I use Interactive Brokers and I have not had absolutelly any problem with trading of IEAM! It holds the price nicely so far. I hope they will announce the listing within 10 days as promised!! Great pick so far!!!

[alien41]

According to John Mazzuto, CEO of IEAM he stated on a May 23 press release that:

Shareholders can anticipate seeing the company generate $80 miliion in revenue in the coming fiscal year and achieve earnings of approximately .90-1.00 per share on a split-adjusted, fully diluted basis with an application to a major exchange with in ten business days.  As I see it an application should be submitted by tommorrow. 

I was wondering do they announce when the application has been submitted or only after it has been approved?  I was also curious how long it takes to get approval once it has been submitted?  I would appreciate any information some one might have on the approval process.

Thanks in advance.....Alien

[Stocky2000]

Not in this one but have been through a couple reverse splits.

I have etrade and also have had the problem of not being able to trade for several days after a split. Frustrating if the stock goes down which is usually the case. The saving grace as far as etrade is concerned is that if you already have a stop in place it will still reflect the change in pps and will still trigger if stop is reached.

I also get a 20$ reorganization fee- in my opinion it is not worth holding through a reverse split.

It s the first and last time i stayed in a reverse split (3 days settlement= not tradeable) too risky...

[la-onda]

Industrial Enterprises of America, Inc. (OTCBB: IEAM) headquartered in New York, N.Y., is an automotive aftermarket supplier that specializes in the sale of anti-freeze, auto fluids, charcoal fluids, and other additives and chemicals. The company has distinct proprietary brands that collectively serve the retail, professional, and discount automotive aftermarket channels.
With 562,300 shares outstanding and an undisclosed short position, there is a failure to deliver in shares of IEAM.

http://www.knobias.com/individual/public/news.htm?eid=3.1.5708993ce7cab1b54dd9bf675477867c41fdd84403da7a03888d1d3961ddb0aa

any comments on this ?

[beroznikmal]

posted financials this mornig..
I'm not too sure if the numbers are a good thing....
Pls advise...
http://finance.yahoo.com/q/h?s=IEAM.OB

so far trading a little down...
Cheers
B