Monday, May 23, 2016 9:33:21 PM
So, I'm learning from my own diary-written posts, written 6 years ago in 2010, that I bought 20,000 shares here at around 4 cents. See, I would not even have remembered that. After a reverse split way back then, I have currently 1,000 shares. In the past 6 years, I have learned a lot.
I was alerted to this stock -- Yes, you have to have the kind of patience nobody on this Earth but me has -- because somebody purchased 4,500 shares last week. All of my babies, even the dead, are never buried.
The company still reports after all these years. But in a late filing, just 3 days ago, THERE IS AN ACQUSITION IN THE WORKS. From the latest 10q:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11401570
Excerpt 1)
On March 17, 2016, the Company entered into a non-binding Memorandum of Understanding (“MOU”)with CaiE Food Partnership Ltd. (“CaiE”) for the purpose of acquiring CaiE as a wholly owned subsidiary. The MOU anticipates that the Company will issue, subject to shareholder approval, a fully diluted 67% interest in its common stock in exchange for the securities of CaiE. The MOU further provides that CaiE lend the Company $50,000 on a convertible basis prior to the consummation of the
transaction. CaiE has loaned the Company $50,000 as of the filing date of this report, on terms yet to be determined.
According to a Google Search, this is CaiE Foods:
http://www.caiefoods.com/
https://www.facebook.com/CaiEFoods
Excerpt 2)
On March 17, 2016, the Company entered into a non-binding Memorandum of Understanding (“MOU”)with CaiE Food Partnership Ltd. (“CaiE”) for the purpose of acquiring CaiE as a wholly owned
subsidiary. CaiE is in the business of manufacturing and dstributing fresh Dim Sum food products from a facility based in Sparks Nevada. The MOU anticipates that the Company will issue, subject to shareholder approval, a fully diluted sixty-seven percent (67%) interest in its common stock in exchange for the
securities of CaiE. The MOU further provides that CaiE lend the Company fifty thousand dollars ($50,000) on a convertible basis prior to the consummation of the transaction. The anticipated transaction will require the Company to convert existing debt into shares of its common stock, increase the number of authorized common shares, elect a new Board of Directors and change its name to reflect the new business. CaiE had loaned the Company $50,000 as of the filing date of this report, under terms not yet determined.
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So, that's over $2.2 million of debt they carry on their balance sheet that somehow gets converted into shares. I have not seen debt in an empty shell erased this way before, and I don't understand it. But it is has gone through a few CEOs and administrative costs, and they obviously have been working on something the last six years.
The current OS is less than 1M Shares. Obviously, as noted above, the share count would be greatly increased. Only 5M more are authorized, but that's kinda meaningless because only a simple filing can authorize more. The sky is the limit, really. Oh, yes, I learned a lot in 6 years...
Basically, it appears that Caie Foods is trying to go public through this empty shell and will own 67% of the company, controlling interest. Their $50,000 "loan" to AVNI is about the average going price for an empty shell. And that will happen within the year, if all goes as planned. And we shall see if my 1,000 shares (20,000 pre-reverse split) purchase was a good one or not. That means I must have dropped $800.00 into this long ago which I have long forgotten about.
Looks like my old friend "Ali Angel" had his account deleted long ago. Nobody has patience like me. They are all dead. They were like fertilizer for a new birth about to take root. It is just a seed, not even in fertile soil yet. But we have DNA, at last.
Recent AVNI News
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/26/2024 07:41:12 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/21/2024 10:18:44 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/15/2024 03:28:19 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/15/2024 03:27:18 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/14/2024 08:24:46 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/14/2024 08:01:17 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 01/31/2024 01:53:15 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/14/2023 08:58:37 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/17/2023 07:38:36 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/14/2023 07:59:03 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/07/2023 09:17:09 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/29/2023 05:02:13 PM
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