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I've only been playing RM for a few years but I've never seen them come from a Nasdq . I agree, they should be able to uplist quickly to QB. That's my expectation as well. But who knows. We just need confirmation things have moved into AESO and name change and we should have a long term runner.
I’m sure it’s coming. Out of curiosity, how often do you see a NAS listed shell spin out into a shell? I’ve played these long enough to say it’s kind of rare.
I trust Miles and Evan to take $AESO to at least uplist on OTCQB out the gate
Wonder if they have their eyes on NAS as they got $RCRT uplisted?
I'm surprised we haven't seen an 8K on the NASDQ meeting. Unless the meeting was delayed . Should have seen a filing by now.
$RCRT 8k filed on 4/23/2024
The $RCRT deal with Gologiq is making progress. Thus, I think the meeting with NASDAQ went well. Indirectly, good news for $AESO
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=318249417&type=PDF&symbol=RCRT&cdn=86638cfdf80b60522e17b74ecf0e97f5&companyName=Recruiter.com+Group+Inc.&formType=8-K&formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2024-04-23
Certainly. Depending on what they build I’d even work with Miles and Evan. Evan is on CNBC frequently and his Sohn conference is all about investment ideas. Maybe his Aura company is coming in seeing he’s listed as a director. He publishes Aura newsletters regularly and is connected with movers and shakers
Good to have your insights on this Stonks. A few of us have been here awhile collecting shares based on this shell becoming a real company. Hoping Miles and team follow through
According to the agreement they will receive 10% of JobMobz shares, not sure what that equates to regarding profit sharing.
Nice. JobMobz has insane growth. They are expanding in international markets. That $AESO gets a % of revenue is money in the bank. Projected JobMobz revenue alone is 50 million (I think they are going to eclipse that)
Do you know the agreed upon number? Is it 10 or 20%
I think that is software that JobMobz is paying RCRT to use and falls into the profit sharing agreement. Based on the filings and PRs all that profit share loot goes to AESO.
Thanks that’s some good DD. Mediabistro is kind of the go-to for creative jobs based on what I’m seeing.
I mentioned I’m a recruitment professional myself I’m going to take Miles ChatGPT course. It looks interesting.
I noticed in the filings one of the brands is RecruitSocial . I had that at an employer (Fortune Global 500) and we had to take modules / watch trainings weekly. Even reported our activity to the group . Nicely built app. Employers spend mega $$$ to make sure their recruiters and HR are up to date with labor law. Compliance is king, no one likes a nasty employment lawsuit or failed audit
Just a general search on blank websites loading points to an update / upgrade in the site code or a tool being used to build / enhance the website. Pending Miles response.
Ditto. The filings for $RCRT and $AESO tell the story.
I noticed I only got a white page when I try to enter the website. Good luck, maybe it’s getting some work done.
I sent Miles an email.
I’m a recruitment professional myself so can tell you what Miles and Evan are building is a big deal.
Companies spend mega $$$ on recruiting and HR activities.
There is unlimited opportunities with AI. So many monolithic companies that need to be brought into the future. Heck I’ve worked with some (especially the government entities) that are stuck in the late 90s so being brought to 2010s level would be an accomplishment.
Yeah. Loaded it in the past. Pretty sure updates coming.
Not worried one bit.
Thanks! The website now loads, it’s no longer stuck but loads into a blank page at the url. Site update / Updates coming?
I’ll ask Miles and post to the group.
Send him an email
milesjennings@gmail.com
I was able to load it the other day. Now it just seems stuck. It’s just a landing page there wasn’t any substance to it yet. Can someone bring it up to Miles? Or someone DM me his email, I’ll ping him. Will try on X / LinkedIn. Not worried here, with the forms filed with the SEC show a reverse merger and spin off is coming.
Is it just me? The website link hasn’t been working for a while now?
I'm a Merrell guy too. Drives my kids insane.
And how I love my crocks with socks.
I knew I liked you.
I think the seller is back again. The 70k wall didn’t move even after the buyings.
So it’s hidden. I bought 90k shares today and I think someone also bought and the ask stayed put….lol.
Yea I tried that, lost my shoe, if you see a size 11W Merrell in your travels....
Thanks for posting this on Rigs page. We just need to see the AESO entity come to life with activity and the big guns on Rigs will move in
Stonks, if you get some free time, check out the ibox for this board. I put a lot of info in it and keep it up to date if something changes.
As far as the Healthcare staffing business goes, they sold that piece to an $FTRS sub called Insigma for 9.5M shares of Futuris stock and a profit sharing agreement up to $2M with monthly or quarterly payments.
Regarding AR/VR inclusion into MediaBistro.com, the indications I got from Miles directly, it’s going to be a while before CognoGroup tackles that initiative. Here is what he responded when I prodded on X.
Good idea but not yet! It’s a little too far out of our wheelhouse.
— Miles Jennings (@MilesWorks) February 1, 2024
Go to 21:20 in the shareholder meeting video, Miles brings up the healthcare staffing business as a current asset that’s coming over
Yes Jobmobs should throw off nice rev to AESO. Not familiar with the mediabistro and the gaming angle. regarding the healthcare part, I believe they sold that to FTRS, Futuris. . A lot of potential. Just need to get things moved over and show AESO is a thriving new company.
I follow Jesse on LinkedIn they’ve just added 6 more recruiters to JobMobz RPO. I think they are going to eclipse their projected earnings.
I wish I knew more info about MediaBistro becoming a AR/VR gaming site. That could be money itself. Gaming is a bigger industry than movies.
Miles mentioned they have a legacy healthcare staffing business. With the aging baby boomer population the demand for healthcare positions is skyrocketing.
Also miles mentioned an equity swap with Millionways. He’s talking to other AI companies too.
Much more coming too
Assuming everything gets transferred into AESO that they've said is coming, revenue should be in the 12-20 mill range. You have to discount AESO price due to trading on the OTC, so if you did a simple 3x revenue valuation, is a 40 mill MC realistic? I think pretty easy. So give it the OTC haircut and I would put a PT for AESO at $.50 in a year. IMO
I’m excited about the direction Miles and Evan are taking $AESO (AI, Web3 AR/VR gaming). The revenue % with JobMobz will be big too.
What are some reasonable pps targets once the deal and ticker change go through?
Based on the 10-K that’s correct.
I'm assuming there are two name changes? RCRT to a new name yet to be announced , and AESO to Cognogroup. Do I have that right.?
Correct, if I could see filings at Delaware SOS, we would probably know if the name change has already been filed. Based on the 10K this is their current status.
-To prepare and effectuate the spin out of Atlantic Energy Solutions, Inc. (currently being renamed CognoGroup), on February 13,, 2024, the Board authorized certain corporate actions, including the transfer of assets and liabilities between subsidiaries of the Company, the renaming of Recruiter.com Recruiting Solutions, LLC to CognoGroup, LLC, and the reorganization of Recruiter.com Recruiting Solutions, LLC to a subsidiary of Atlantic Energy Solutions, Inc.
I think you mean the guts of Recruiter.com will become AESO. They sold the Recruiter.com name and domain to Jobmobz. RCRT will be come a different entity under the new CEO. They have just recently aid in an 8K they are planning to spin out most current assets/revenue to AESO under Miles as the new CEO. The board approved and have given miles the green light to begin this process. I think if you reread Gman stickies it highlights the direction
You think they changed their mind? Just asking because, why buy the shell?
I don’t know why Miles would step down as CEO if he planned to do that to RCRT.
I guess it’s probable since the Fintech thing is questionable.
I think he wants to do something different with the spinout assets regarding AI.
JMHO.
I'm under the assumption Recruiter.com will become AESO.
I'd love to see a symbol name change under the Congo flag soon
Now is the time to shake the AESO history once snd for all.,
There will be a 10-Q by 5/15 before the 6/30 final date on the JobMobz deal.
Could be other news between then, like maybe the website updates or Linked in Changes. Not sure for now.
Yes or before. Basically waiting for the last payment. I think as long as RCRT is in good standing with NASDQ, we don't really need to look at RCRT events further per say, now we need to see PR's talking about the assets moving into AESO.
Per the 10k, June 30th is the next event.
More of the same in AESO world till then.
I also noticed the pps is stable at 1.50. Hopefully no sellers equal good news. JMHO.
Anyone hear how the RCRT NASDQ meeting went? Price for RCRT seems stable
I must be doing something right. I just looked at the list too. I didn't recognize but one that went to skull and cross bones.
Oh yes! For some reason I have forgotten they are two separate tickers…lol
Thanks
Sorry. I meant RCRT! was mixing them up
Hoping to start hearing some things once the RCRT NaZ status is secure. That seems to be Miles focus at the moment.
I think mainly because the debt holders expect the shell to stay on Nasdaq. What institutional investor wants their stock dropping off to OTC.
Also we need some updates in the form news releases and that should move the pps north. Today is a big step forward with the filing.
According to Miles the company will be a holding company.
Response from Miles about the general business design of Cognogroup.
| Fri, Sep 1, 2023, 1:31?PM | |||
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Hi Jeremy,
Thanks for the nice note.
You're right, our plan for the new spinout company is more of a multi-brand holding company rather than a single brand company like Recruiter.com. As I mentioned on the last presentation, we are
concentrating on reducing costs, developing a lighter footprint, and focusing on technology-enabled businesses.
Miles
______________________________________________________
Spin Outs: Based on the Board vote on 2/13/2024 to begin the process of changing the coorporations name from Atlantic Energy - CognoGroup and also apply for a ticker change it is probable the MONTAGE debt arrangements listed in EXHIBIT 10.1 has been satified with the initial $1.5M payment.
This 8K explains the reasoning in assuming the $1.5M was paid to RCRT to service Montage debt agreements and proceed with Spin-Out.
Item 8.01. Other Events.
To prepare and effectuate the spin out of Atlantic Energy Solutions, Inc. (currently being renamed CognoGroup), on February 13,, 2024, the Board authorized certain corporate actions, including the transfer of assets and liabilities between subsidiaries of the Company, the renaming of Recruiter.com Recruiting Solutions, LLC to CognoGroup, LLC, and the reorganization of Recruiter.com Recruiting Solutions, LLC to a subsidiary of Atlantic Energy Solutions, Inc. Additionally, the Board of Directors authorized that management may take such steps necessary to change the name of Recruiter.com Group, Inc. to reflect its purpose and a corresponding change to the company’s stock symbol.
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/1462223/000165495424001976/rcrt_8k.htm
Also noted in the RCRT Shareholder Update: https://feeds.issuerdirect.com/news-release.html?newsid=8147323872573577
Spin-Out Update - CognoGroup
The Company is continuing its previously announced plans to consolidate its current assets into Atlantic Energy Solutions (OTC:AESO), which is planned to be renamed CognoGroup ("CognoGroup").
CognoGroup is planned to hold several assets and operating businesses, including Mediabistro, a leading job board for the media industry, the partnership with and shares of Job Mobz after the Recruiter.com transaction closes, shares of Futuris, Inc. granted to the Company from the recent sale of its healthcare staffing business, and other assets and ventures centered around artificial intelligence and recruitment technology.
On February 12, 2024, the Company's Board voted unanimously to perform certain administrative actions necessary to prepare for and effectuate the spin-out, including corporate restructuring and renaming.
10.1 Requirements (Montage requirements)
D. The JobMobz Sale, GoLogiq Acquisition, Asset Transfer and Spinoff Transaction are prohibited under the Agreement. Borrowers have requested, and Lender has agreed to, consent to the foregoing transactions in accordance with the terms set forth herein. The parties also desire to join Cognogroup as a Borrower to the Agreement and amend the Agreement in accordance with the terms of this Amendment.
Principal paydown is the $1.5M from Jobmobz.
4. Consent to Other Transactions. Following Lender’s receipt of the Principal Paydown, Lender consents to the Gologiq Acquisition (and the Change in Control resulting therefrom), the Asset Transfer, and the Spinoff Transaction.
https://www.sec.gov/Archives/edgar/data/1462223/000165495423011142/rcrt_ex101.htm
Spin-Out Companies / Partnerships
MediaBistro.com, This is a premier Job board for Media related hiring opportunites worldwide. Founded in the 1999 and sold 3-4 times according to Wikipedia. Parrut, Inc. purchased the MB company in 2021
https://www.mediabistro.com/
https://twitter.com/mediabistro Currently 145.9M followers
https://www.linkedin.com/company/mediabistro/ Currently 14K followers
https://www.facebook.com/mediabistro Currently 61K followers
https://en.wikipedia.org/wiki/Mediabistro_(website)The company was later acquired by Parrut, Inc. In 2021, Mediabistro was purchased by a recruiting solutions platform, for an undisclosed sum.
Last RCRT 10-K filed 3/31/2023
Effective July 7, 2021, we entered into and closed on an Asset Purchase Agreement with Parrut, Inc. (“Parrut”), and certain individuals named therein. Parrut does business as Uncubed and we acquired the assets of the Technology Solutions Division of Uncubed. The purchased assets include assets related to Finalist, an online marketplace for sourcing and screening early-professional software and data candidates and assets related to Uncubed’s job board technology and candidate engagement platform which includes Mediabistro, a job board and professional community for media, content, and creative professionals (the “Parrut Purchase”).
As consideration for the Parrut Purchase, we paid $500,000 in cash at closing, a $1,750,000 promissory note with an interest rate of 6% and an original maturity date of July 1, 2023, and granted to Parrut 257,545 shares of our Common Stock, valued at $1,264,551. In addition, the terms of the Parrut Purchase include “earn-out” provisions under which we could become obligated to pay Parrut up to an additional $1,350,000 in the form of our Common Stock (the “Parrut Earn-Out Consideration”). The Parrut Earn-Out Consideration is equal to 1.35 times our revenue derived or generated from the assets purchased in the Parrut Purchase achieved during the twelve-month period immediately following the closing date. In October 2022, we confirmed Parrut earned the maximum earnout of $1,350,000 and we issued 1,374,678 common shares to Parrut at a price of $0.98 per share, the 20-day volume weighted average price prior to completion of the earnout period.
On October 19, 2022, Parrut agreed to subordinate their note to the loan owed to Montage Capital II, L.P. In return, we restructured the payment schedule to Parrut. The Parrut note now has an annual interest rate of 12% and matures on August 31, 2023.
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/1462223/000165495423004101/recruiter_10k.htm
Candidate Pitch AI, Uses AI to develop E-Resumes, see video. https://candidatepitch.com/
Millionways, Inc. partnership. (Additonal Revenue sharing potential and equity agreements in article)
https://www.proactiveinvestors.com/companies/news/1018400/recruiter-com-partners-with-millionways-to-bring-ai-powered-personality-evaluation-to-hiring-1018400.html
https://finance.yahoo.com/news/recruiter-com-millionways-forge-partnership-130000728.html
Recruiter.com has agreed to pay millionways a licensing fee based on a revenue-sharing model. Under this agreement, millionways will receive fifty percent of the net revenue that stems from the product sales. Which means $AESO would presumably receive the other 50%
Demo https://millionways.ai/#/
Just prior to this partnership agreement, Millionways entered a LOI to give Quantum Computing, Inc. (NASDAQ: QUBT) Not sure how this affects $RCRT partnership.
https://www.quantumcomputinginc.com/press-releases/quantum-computing-inc-signs-letter-of-intent-to-acquire-privately-held-artificial-intelligence-platform-millionways/
AI Exchange Group (LinkedIn) https://www.linkedin.com/groups/37888
Plans for marketing $AESO products through this group. Per the statements in the Investor presentation video linked above.
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