There is a hold on STS122 because on initial release of it the date was by the end of January while NASA itself said its target launch date was Feb 7. Obviously a lot of people shorted but then the ipo magically changed to Feb 7. It is held until the admin figures out how to compensate everyone who acted under the original conditions.

It was discussed on the old forum. They are figuring out what to do because they changed the date on the prop after it was live, didn't tell people, people lost money after the date changed, blah blah blah. So at some point, it'll be fixed.

anyone heard when they will fix so we can get on with using the funds?

All these new props come out and i have 10k stuck in this IPO which I can neither sell nor make any money off of since it is halted....

Mods.. can u give an update anytime soon?

Consider yourself lucky rahulr I'm down over $8500 thanks to this whole mess.

I dropped my stock losing 20k with the stinkin commisions and now since i dont have the stock anymore I probably wont get any money!!!!!!!!!!!

They should still have records of your transactions. As far as I'm concerned everyone who bought before the switch should simply be given their money back in full.

In fact I think the whole thing is pretty much a dead loss at this point since its been frozen so long. It would probably be better just to refund everyones money, regardless of when they bought and act like the stock never existed in the first place.

That is soo true

For all the people who bought the stock.. just pay it out in full (100)

I want my cash because al these new IPO's are coming and my cash is halted.....

as Diesel mentioned they should have the records.. so whats taking so long???

i agree - just refund the money. the longer the wait, the worse it makes the problem. yeah - i would've made a bundle on the short if they hadn't changed the terms but freezing the money for this long instead of just reversing all the transactions.............

I shorted this as soon as it came out. Then I noticed they had
changed the payout rules arbitrarily and I covered, took my
loss, complained to the forums. Then I bought the stock long
and promptly had it frozen. To make this right (no loss,no
gain) for everyone is going to be a pain in the ass. They
screwed the pooch and should suck it up and make it right.
I don't expect to see my imaginary money freed up anytime
soon. I also believe they will screw it up, again...

I made over 3500 in short before they changed it... then lost almost triple after.I wasn't worried about it because I knew there were those that didn't have a clue what it meant. didn't ever pay attn. to it on my port, till I saw en extreme loss.

I'm in the same boat as everyone else. Shorted, lost $8000, covered. Rebought short, frozen.

I just hope I get credit for my first loss.

I really don't see why they haven't taken action on this already. It should be obvious by now that:

-Changing the date of the proposition without warning after it had been launched and members were allowed to buy stock created an unfair situation for those that had purchased early.

-The complex nature of the transactions made makes trying to give everyone a "fair" payout is improbable at best meaning a simple refund of purchase price would be the most equitable solution at this point.

-Freezing all trades on the stock has rendered the stock totally worthless as there is/was no opportunity to buy and sell based on market forces.

-The longer they hold our assets frozen the more opportunities to make successful investments with that money are lost.

The longer they wait to bring this situation to as fair a conclusion as possible the longer they disadvantage traders and make themselves look indecisive at best and incompetent at worst.

Check it out!

http://www.space.com/missionlaunches/080204-sts122-update.html

Not that it matters, because this stock is going nowhere.

If we shorted then covered and didnt buy again to we still get our refund? And i agree they should pay out at 0 for those who shorted and100 who went long on it. Diesel, you are so right: this debacle makes admin look extremely incompetent, and it also looks like they have no idea what they are doing. Im also glad this is going nowhere, we dont want a lightning strike on the shuttle.

Comments on this thread have been copied to the old forum, where there was already a huge volume of information on STS122.

Please support the transition to the old, nicer forums by making any additional comments on STS122 in the older forums here:

http://ppx.popsci.com/forum-archives/showthread.php?t=1496

Thanks!

GIVE ME MY MONEY BACK.. i WENT LOND FROM THE VERY BEGINNING BECAUSE I HADNT PAYED ATTENTION TO THE DATE.. THEN I MADE A LOSS.. THEN IT STARTED GOING UP AND STOPPED AND I STILL HAVE A PROFIT, BUT I CANT USE MY MONEY ANYWHERE....

The prop will be over soon, maybe when it lifts off they'll actually pay it out at $100. If people went short on it, I'd say refund them the money since they weren't able to change.

sts-122 has been launched today at 2:45PM EST

I am watching what I would call a perfect, or near perfect anyway, of the space shuttle Atlantis.

Pay up Popsci!

Gorgeous video from NASA's streaming website.

I wnwa tmy money common....
A beutiful launch and deserves a payout at 100 per share....

COUGH UP!!!

Somehow it strikes me as wishful thinking to assume that they were holding this stock to see if the shuttle would launch in accordance within the updated time frame (although at this point any assumption is purely speculation since we haven't heard any official word one way or the other on this situation).

It's now more than 24 hours after the launch and "Where's the Money"?

Is admin on Holiday?

This is as bad as the "Bookies" that lost big on the Super Bowl.

Get over it Admin and PAY UP.

At least give us an explanation what the HOLD UP is... PLEASE!

the payout was if it launched by 1pm est. it went at 2:something pm est

What are you talking about swami?

"This proposition will pay out at POP$100 per share if STS-122 lifts off from Cape Canaveral on or before 11:59 p.m. EST February 7, 2008. "

Does not say 1pm and it launched before that time on the prop yesterday.

This was a close one, it could have easily lost. I guess if Steve Jobs would have said "Well here it is February 8 and STS 122 has been launched" the prop would have been declared a failure. But without the wisdom of all Steve-a-roonie they probably are not sure if this is a pay out or pay-less.

hey - read the 1st post in the forum:
01/24/08 at 3:45 pm
There is a hold on STS122 because on initial release of it the date was by the end of January while NASA itself said its target launch date was Feb 7. Obviously a lot of people shorted but then the ipo magically changed to Feb 7. It is held until the admin figures out how to compensate everyone who acted under the original conditions.

Do a share of the transactions that purchased STS122, either long or short, from the date it was first traded until the date was changed. Make a file composed of the transactions of those who purchase STS122 and now find when they liquidated that position and find what the price was. Subtract what they paid for their position and then subtract what the received when they liquidated it and credit them the absolute value of that negative number, if it is a positive credit them zero.

WHY EVEN TRY? The admins don't care. They won't talk to us. Just accept the fact that this stock will be halted until 2010!

WHAT ARE U KIDDING ME!!!!!!

I HAVE NEARLY !)K IN THIS STOCK WITH A HuGe PROgIT IF IT pAYS OUT AT 100 EACH!!!!!!!!!!!!

RABBIT OR SOME OTHER ADMIN CAN U ANSWER OUR QUESTIONS!!!!!!!!!!!!!!!!!!!

Ahem... you're wasting your breath.

Man, I wish I had !)K in MOnEy. That's like so much money I don't even know how to comprehend it. The Caps Lock key would have gone a long way in helping you type your all caps comment instead of holding the shift key.

I'm not sure if I'd want a "HuGe PROgIT" though.

Yea, it sounds like a personal problem...

Actually, I get a lot of spam email that advertises a HuGe PROgIT that will make me a hit with any girl I meet. However, I had hoped that we were going to keep the forums civil and not talk about the sizes of one's PROgIT.

Actually, I get a lot of spam email that advertises a HuGe PROgIT that will make me a hit with any girl I meet. However, I had hoped that we were going to keep the forums civil and not talk about the sizes of one's PROgIT.

What the heck happened there?

LOL This is getting quit comical!

eMay oTay aveHay "HuGe PROgIT" henWay heytay ayingPay heTay utOay tockSay, fiay heyTay verEay oDay!

Sorry, I just had to. This entire STS122 is just such a fun IPO flop that could not resist.

==========================================
Du ska få en dag i mårå som rein og ubrukt står,og med blanke ark og farjestifter tel
(You shall get another day tomorrow that clean and unused stands, and with blank paper and crayons too)
- Alf Prøysen
=========================================

Check out http://www.nasa.gov/mission_pages/shuttle/news/122_milestones.html and scroll down to where it says: Resume countdown at T-9 minutes (2:36 p.m.)

You can see that it didn't actually launch by 1PM.

I have 300 long on this and I'd love to have it pay out, but it didn't really come true. They were delayed by more than an hour.

According to the prop, It did come true .
This proposition will pay out at POP$100 per share if STS-122 lifts off from Cape Canaveral on or before 11:59 p.m. EST February 7, 2008.
According to their actual lauch time is was 2.45PM EST on the 7th, which had occurred before the prop ending date of 11:59PM EST

Question... Why does people keep talking about it was no launched before 1 PM? I don't remember the original IPO's working, but the one that should be payed out (Hey Admins! Any day now, it would be nice to get our money, you can look at the historical data later to figure out who will get what in refund for the original snafu!) said, as remarked upon by several of our PPX traders was 11:59 PM an entire 9 hours and 14 min after the shuttle launched.

http://ppx.popsci.com/security/view.php?symbol=STS122

==========================================
Du ska få en dag i mårå som rein og ubrukt står,og med blanke ark og farjestifter tel
(You shall get another day tomorrow that clean and unused stands, and with blank paper and crayons too)
- Alf Prøysen
==========================================

Centrigma, I'm still trying to figure out the 1pm thing...I figured after the first post about 1pm and the response I posted, that would be the end and it was just some misunderstanding but a 2nd time about 1pm....??? I don't think there's anything new to discuss with this prop, the prop was satisfied so it should be paid out long but the people who had it short should be reimbursed for not being able to switch positions. Just one person's opinion

I know pso7025, but it still amazes me that people still think the prop failed. I just have to smile and laugh.

==========================================
Du ska få en dag i mårå som rein og ubrukt står,og med blanke ark og farjestifter tel
(You shall get another day tomorrow that clean and unused stands, and with blank paper and crayons too)
- Alf Prøysen
====

New IPO- STS122PAY

Play of the Popsci Predictions Exchange continues, albeit with much frustration. One of the latest stocks, STS122, has been halted since a really long time ago because of neglect by the admins. Nobody believes the admins will fix the problem seeing as the admins have not said anything about fixing it. With a history of inaction, can the admins pay out the stock? Or will PPX slip even further into the quicksand of user dissatisfaction?

This proposition will pay out at POP$100 per share if STS122 is paid out on or before 11:59 p.m. EST February 29, 2008.

I love it Milkweed! Easiest short I would have ever made...

Although, you probably should have said "refunded" instead of "paid out" since no one could change their positions.

Now wait a few days and change February 29 to a later date of your choice.

And after I do that, I'll halt the stock and then take a long vacation.

LOL. I swear it said 1PM when I got my 300 long...

But you're right... it won't matter. I think I'll check my portfolio again someday, but it'll be months...

What is the word on this prop? when will funds be released? or what progress has there been made to find a solution?

i guess they are waiting to see who the democratic nominee for president will be - is as good as answer as any at this point. how hard could it be to write something to go through and create a transaction to refund everyone's basis and get on with it?

Very hard, as a matter of fact. It is really difficult because, well, ummm... Okay, it's not that hard. I'm shorting my self-created IPO, STS122PAY, which will pay out at $100 if STS122 is paid out on or before 11:59 pm on feb. 29th.

Milkweed110 it looks like you should have bought stock in your STS122PAY instead of shorting it because it looks like they finnaly paid out the STS122 stock sometime last night.

Naah, I flipped it last night. But now it will be halted for a couple weeks, so maybe I should have avoided it alltogether!

In my portfolio the STS122 long prop came off, but no payment was made nor any transactions in my transaction listing. I suspect as I was one of those who initially went short on the prop with it's initial wording and then went long when they re-worded it my payment is probably under review.

Any one else note the STS122 being removed from their stock listing but not showing in their transaction listing?

It showed up in my transactions (not specifically as STS122 though), on 2/28 at 18:50, credit of 50250, for the initial transaction then a debit of 45000 i guess that's what i gained when i covered the prop after the wording change then a credit of 55000, what it was worth when they halted it.

I don't have a name on the transactions either, but I got the money from it (incidentally, I happened to buy the stock after the "word change" phase).

Same here as pso:

I had transaction reversals for it, but they were not marked specifically as STS122. If I were an active trader, I probably would not know what they were attributable to.