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At least Phoenix put themselves in a no-lose situation. Should find out with certainty within the next two/three months at least.
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Just a little over 2 months left the selected management has to get that financing in place or they will be terminated according to the employment agreement. That contract is very clear as to what is required and what is going to happen as a result, good or bad. My guess is, that Phoenix will get more directly involved with this shell themselves if the current managers can't come through with what they have previously agreed upon.
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I did find this interesting though from their employment agreement.
Quote:
(b) The Exercise Price shall equal the average of the highest and lowest trading prices per share of the Company’s Common Stock on the date of the closing of the Funding as quoted on Nasdaq, the Over-the-Counter market or the New York Stock Exchange, whichever is at the time the principal trading exchange or market for the Common Stock.
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At least we don't have too much longer to wait, good or bad. Management will be gone if they aren't able to produce results by mid-summer as per their employment agreements.
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At least they still are a fully SEC reporting company. Always a positive thing in just that fact.
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Not the same Group
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I haven't seen that. Wonder how that is going for them?
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Incredible amount of potential with the Phoenix Group's backing, but as of right now, very disappointing. Perhaps Laster is right and the fellas at the helm don't have the ability to produce any results satisfactory to the powers that be. I guess we still have a little time to wait and see, but so far, a big goose egg.
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Understood.
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I'm still very optimistic about this shell and I'm still here in full force. Way too much upside potential with The Phoenix Group's backing.
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Apparently, someone agrees with you
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A little interesting price action today. Good to see some life here. Hope we can get some follow through in the upcoming weeks/months.
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Yea, I thought we'd be hearing from them by now or at least getting some inkling as to where things stand. At least we know that this management team is very much under the gun and will be gone here shortly if they can't produce. Mad respect for Carl Agren though as I believe he's got everything under control as overseer of this shell. He has been instrumental in advancing The Phoenix Group to where they are at today. Time will tell how things play out here though, I guess.
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Guess I got to go back to work for another week. With all this excitement surrounding Crypto lately, it's a little disappointing that we haven't heard any details from these guys on where they are at with things. One good thing though, leadership is out here shortly if they can't produce. It does seem like Phoenix is hell bent on using this shell in some capacity at least.
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Follow the money. All other big miners here in the U.S. are listed on the Nasdaq. No reason to think TCRI won't be listed there as well at some point.
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The share structure will change upon an uplisting to the NASDAQ. It won't have anything to do with the $75 million financing, so you are only partially correct. Phoenix won't let any toxic financing to take place. That was pretty much spelled out to a "T" in the latest 8K my friend.
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Yea, probably. When that goes through though, things should get pretty interesting here to say the least. Someone is being pretty aggressive, however.
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Maybe that $75 million + financing came through now and someone caught wind of it?
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Are we getting front loaded here today or does somebody know something, or both? Liking that L2 right now.
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Agreed. Got to get some updates. Current management has about 4 months left to get financing done or they're fired according to the latest 8K. They are on a short leash, so it seems.
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https://news.bitcoin.com/bitcoin-mining-company-phoenix-group-reports-50-net-income-increase-and-20-sales-growth/
Quote: "Our success has been impressive, but 2024 promises to be truly transformative"
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Perhaps it has something to do with the exceptionally large foreign ownership?
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I also follow them on LinkedIn and they have recently indicated that they are expecting a very big 2024. Not sure what exactly all that entails, but I'm assuming that part of their plan involves the TCRI shell.
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I'm counting on it. When we get some positive updates on where they're at on that funding, then we'll get some good traction here. Perhaps even a historic move based on "who" is calling the shots and the amount of money potentially involved. 💰
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Whos' website are you referring to? Phoenix or TechCom? I guess it doesn't really matter because Phoenix owns the majority of the TCRI shell, and they are one of the biggest Bitcoin mining companies in the world. So, as they say, looks can be deceiving I suppose.
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$TCRI
Phoenix Up in 2023!
— Phoenix Group (@phoenixgroupuae) February 16, 2024
Earnings Soar 50% Sales Boom 20% Public Listing in Abu Dhabi! 🇦🇪
Get ready for an even brighter 2024! pic.twitter.com/FKlWcID8Gn
Amazing update from Phoenix: https://news.bitcoin.com/bitcoin-mining-company-phoenix-group-reports-50-net-income-increase-and-20-sales-growth/
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Yea, you're probably right. I'll sell now.
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Agreed. If and when that funding ($75mil) comes through, things will go bonkers here. With everything that's going on with Phoenix and Crypto as a whole, the stars are starting to align.
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You're still losing site of the main fact and that is this is a Pheonix Group play. They just had an enormously successful IPO in UAE which isn't even close to the full potential that the US market can give. Faulkner and Wajcenberg are on a short timeline here and it's very clear that they will be terminated if they can't produce satisfactory results, and quick.
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The difference is now Pheonix is in full control of this shell and have absolute final say in anything that goes down. As it is pretty much stated in the 8K, they will not allow any kind of toxic financing to go down. In addition, I believe there will be a lot of big players wanting to jump on the Pheonix Group bandwagon. Crypto is hot and growing even hotter. The Pheonix Group wants a strong presence in the US and apparently, they are going to use the TCRI shell to achieve that goal.
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This is easily a $3-$5 stock (maybe more) when everything goes through. Not a lot of shares O/S here so this will run big and probably hold. Perhaps uplisting will be the talk by then?
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Based on how well received that IPO was in the UAE, a lot of people are wanting to jump on the Pheonix band wagon. We should hear something pretty soon about the specifics of that financing.
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Thanks Potse, As always, your insight is much appreciated.
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And Faulkner and Wajcenberg will be terminated according to the 8K. Pheonix is in full control of anything and everything moving forward. Pretty clear.
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I think some are missing the big picture here and that is that we now know what Pheonix is wanting to do and wanting to do with this shell in particular. It is very clear now that Pheonix wants a much bigger footprint in the US and they plan on using the TCRI as a vehicle to do that. It is also clear that Faulkner and Wajcenberg are on a very short timeline, or they are out. It's almost irrelevant if Faulkner and Wajcenberg accomplishes what is stated in the latest 8k because if they don't someone else will. Like I said, it's obvious now, more than ever, that Pheonix wants a presents in the US and wants access to the US investor. The TCRI shell is owned a completed controlled by The Pheonix Group (FACT!) and come hell or high water, they'll accomplish their goals. They've already proven that they can, multiple times over.
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That's the way I read it.
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Sorry, my bad. I initially miss read that agreement while driving earlier. We shall see very soon about that part though as they're not giving them much time for things to start happening. I assume they already have some potential investor(s) lined up for that $75 million?? Mr. Wonderful perhaps? I know he's very much been wanting to invest with these guys (The Pheonix Group). Hopefully terms will be suitable, or nothing goes through sounds like.
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