Please Remember
The below rules for OTCQB requirements, hint(I bolded the part for consideration):
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Eligibility Requirements
Meet minimum bid price test of $0.01
Not be in bankruptcy
Be listed on a Qualified Foreign Exchange or be a U.S. Reporting Company (SEC, Regulation A or U.S. Bank)
Submit a Letter of Introduction from a firm qualified to sponsor companies on OTCQX (International Reporting only)
Reporting Requirements
Meet one of the following Reporting Standards:
SEC Reporting Standard
Regulation A Reporting Standard
U.S. Bank Reporting Standard
International Reporting Standard
Verification Requirements
Maintain a Verified Company Profile
Post initial and annual OTCQB Certification
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In the pinks, companies that have lost their mojo say that they are going to get current all the time. "looking to get current" is probably one of THE most overused phrases we read in their "press releases", because it implies taking action to raise the bid to that minimum and then all of the other reporting requirements - which investors like. Companies that are truthfully willing to work hard to do this prep work are less likely to massively dilute, cheat the books, cheat the investors, etc. etc.
In the MJ market, to be a player that a lot of these guys want to become, to get future financing at favorable rates, to enter the room as government contracts, etc. become available - it behooves them if publicly listed to get current and uplisted. A few companies out of the bunch who want to be players "tomorrow" are taking steps to retire shares, show revenue generation and get current - others are diluting and talking.
With UAMM, they have spent money on legal help, auditing and other steps to make this happen, including retiring shares to buoy the stock price. The filings at the OTC is really the tangible visual evidence that they are serious. Next, the data within those filings which has often been discussed here:
no debt
no convertibles
no dilution
no shares issued since mid 2013
40M shares in retirement process (in fact)
no preferred or deferred's
is the next tangible evidence that they want to continue to meet that minimum bid. Really, if you think about it, prior to this weekend all we had were emails from IR and a whole lotta trust!!!! One might argue that the first evidence that drove a lot of us here were the two websites, which I haven't seen replicated on another public MJ stock. Don't gloss past that last sentence - particularly those that want to hold this stock long term (1yr +).
So where are we now?
We are still in the jostling phase of the horses entering the gates. Last minute shares are being moved, folks have moved from the bar to the grandstand viewing area, but make no mistake two things have happened:
1. we DID take the trip from the stables to the starting gate. Look at the minimum bid, don't forget that. Progress has been made, you cannot run the race if not in the starting gate when the race commences.
2. The race hasn't started yet.
When the race starts, expect the jockey to work the horse to try and win.
Expect PR's and other information to follow regularly and consistently to justify the sunk cost that UAMM have had to put into this thing to get to this point of entering a horse in the starter's gate.
1. Name Change
2. Update on growing machines offered which should include the company offerings and pipeline orders and god forbid... Q1 revenue projection and growth projection
3. websites update
4. Other updates that we don't know about yet that a smart jockey would strategically hold until he needs the burst.
All of this though will come in it's own time/stage. For shorter term investors, the share structure, luck, sector and timing are really the turbo engine that the rider needs.
Regarding share structure, the more I review this company, the more I feel that there is a reason within the float that it trades the way it does with so few shares available. I have millions upon millions that took weeks to accumulate because of how thin the float was (which is why I continue to hold them as buying them back in the quantities I possess would prove too difficult at this stage). Of the float, maybe 2-5% ever get's traded daily.... if that, at times. Stop and really think about that - as I type near business close 5.63M bartered - less than one private shareholder like me has!
In my opinion, that is a huuuuge catalyst for what is to come when the race starts. This one continues to look like a good one and passes all the stress tests to this point.
Last thing, this was an unexpected delay... don't be surprised if news has already accumulated beyond the name change and getting uplisted... just fyi. Time will tell.
AI
