[bizloanbroker]

I am first on line to short this stock!

Ondeck is the biggest PONZI scheme since the Madoff mess.

A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme

Hopefully it comes out in all the underwriting that will happen before they issue the IPO. They have been raising money from peter to Pay Paul for years and this must be their only way out.

They are telling anyone who will listen that they have a "low single digits" default rate. Well that's not too hard to do when you pick your best 300 performing and "seasoned" merchants and put them into the securitization. The information they decided to leave out was that the rest of their portfolio is gigantic train wreck with default rates closing in on 30%.

Additionally they recently cancelled ISO agreements on about 50 company's saying that it was because of the high default rate that specific portfolio had with them. When in actuality it was because they were worried about the reputation and do not want to be associated with them.

I am a single man shop working out of my living room and had been doing business with OD for 4 years and one day I get a letter they are cancelling my agreement. I call my rep and finally drag it out of him that they are really cancelling my agreement because of a drug possession charge I have from over 20 years ago and they ant be associated with me.

Bottomline is I am out there trying to make a living for my family and these guys dropped me like a bad habit.

This is a bad company made up of bad people and I sincerely hope the truth about them comes out

[JayBallentine]

Can't short an IPO.

[Ocean Financing]

Can't short an IPO.

On the day of the IPO, two main parties hold inventory of the stock: the underwriters and institutional and retail investors. As determined by the Securities and Exchange Commission, which is in charge of IPO regulation in the U.S., the underwriters of the IPO are not allowed to lend out shares for short sale for 30 days. On the other hand, institutional and retail investors can lend out their shares to investors who want to short them.

However, only a limited amount of shares would probably be available on the market as the company would've just started trading publicly and the shares may not have been completely transferred. Furthermore, there might be a lack of willingness among investors to lend their shares out to be short sold.

So, while there are regulatory and practical obstacles to doing it, it is still possible to short sell shares in a company the same day the company goes public.

[channin19]

They are telling anyone who will listen that they have a "low single digits" default rate. Well that's not too hard to do when you pick your best 300 performing and "seasoned" merchants and put them into the securitization. The information they decided to leave out was that the rest of their portfolio is gigantic train wreck with default rates closing in on 30%.

Their ISO / Referral channel has a higher default ratio.
As far as the people go everyone may be drinking some kool aid over there ( I heard they have beer on tap too) but everyone has been very easy to work with. And more importantly I've never had a merchant complain about how they were treated by them (service wise not necessarily pricing) .