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Makes sense. Cleaning the runway. So if I'm Parrut and/or Montage, to take shares in leu of money says something positive about RCRT and AESO. Price for the deal is $0.10 per share pre RS. They need about $8 a share to get the original lone amount?
Seems to me this 8K is specific to allow release of MediaBistro for the spinout. RCRT bought MediaBistro from Parrut, Inc.
Giving them 160K shares of RCRT in exchange for clearing the prommisory note finalizes the obligation to both Parrut and Montage from what I gather in this 8K.
Filed yesterday with SEC.
https://www.otcmarkets.com/filing/html?id=17423964&guid=p9Q-kn8hn_NeJth#rcrt_ex22_htm
Is our recent seller on vacation this week?
This guy has lofty goals, I like it! $AESO will benefit well off their partnership and 10% share of JobMobz.
Will be at a $1B+ valuation in 2025.
— Jesse Tinsley (@JesseTinsley) March 29, 2024
Because we bought the best businesses in a bad market.
I anticipated the Recruiting sector to improve in 2024 but not at a scale rivaling 22'.
Why?
Because companies are hiring contingent workforces vs FTEs and that trend is accelerating.
He hold shares in most of his shells. No skin off his back either. He makes his money on the front end doing the work.
I'd love to see his zero cost portfolio. I bet he still owns shares in all those DE shells he got boned on.
Why is this not trending up
If this stay like this to Friday's close, im getting another 35k on the Ask. I need to round up my stack anyways. Payday is Thursday. I may up it to a grand.
It sucks because I have $750 burning a hole in my pants and I got my eye on Alot of crap.,
Thats a nice find. I would assume hes still holding. He holds about 10% of ECPL based on what he had and him buying most of the Hicks holdings. All common. Those are the only two shells I own of Synergy. His confidence to hold commons helps me a little to hold through these slow periods.
He's still sting on RIBS
Took a bath not dumping his. LOL
It is comforting he's in the same boat with the rest of us. You know his seed money is long gone and he's holding free. No risk payout if one goes balistic.
I was just looking at those. Guess I never noticed before that Ben Berry still owned 1,705,869 shares when he sold the shell to $RCRT.
He bought back 97,705,869 from Tim Brock and only cancelled 96,000,000. That means he kept the rest, which provides me personally with a bit more confidence in the play. He doesn’t usually keep shares of most of the shells he sells.
$AESO
Annual FIns are out. Confirms the intent to transfer RCRT assets into AESO. Also shows RCRT owns 100% of AESO
Childish.
However I've tried to paint it up many times.,LOL
It's all part of the game. Good news hits snd none of this matters but the number of shares you sit on.
No question, someone wants to keep this under the radar. JMHO
Someone didn’t want it to look so pretty near .02 over the long weekend is my guess.
Same old painting by MM!
I can paint it back but for my selfish interest I want this to stay down here just maybe when funds come I can load more…lol
So why would someone sell 1700 shares at .011? Either algo or MM trying to get people to sell?
Nice to see this is moving forward just as they planned.
Also, there are no issues now for RCRT to maintain compliance at the 4/18/24 Nasdaq hearing. Both deficiencies they were pinged for have been resolved.
RCRT filed their 8K for the annual board meeting and vote of new Directors. All passed. No mention of AESO. That wasn't on the agenda. Miles is still involved, as director and CFO of RCRT. So The CEO of AESO is the CFO of RCRT which should make it easy to move assets from RCRT^ to AESO.
This selling is a little surprising to be honest.
With the O/S we have.
Any delay in filing will push this down back under a penny again.
So based on this tweet, $AESO owns 10% of his $100M company and is getting paid on top of that with the 3 year services agreement. And at the same time the deal pays off $1.8M in company debt to Montage. Pretty solid transaction.
The only correct answer is 10% of $1 billion company.
— Jesse Tinsley (@JesseTinsley) March 22, 2024
I say this as someone who falls closely into category #2 personally though. https://t.co/q0ky6ka0xo
The RCRT PR with the CEO change had this to say about what Miles will be doing. From what I can tell, the spinout has already begun.
Mr. Jennings will continue to contribute to the Company as a Director, interim Chief Financial Officer, and CEO of a subsidiary of the Company, with a specific focus on facilitating the planned strategic spinout of certain assets of the current company.
https://feeds.issuerdirect.com/news-release.html?newsid=8092097254368090
I would agree if it had been part of the proxy document. From what I read the vote today was only for new Directors and Auditor approval. 3rd vote was to have another meeting if there wasn’t a quorum.
The current board voted to start the Name Change and ticker update on 2/12/24.
Miles resigned as CEO of RCRT to specifically work on spinning out the CognoGroup assets.
From the update:
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.
https://feeds.issuerdirect.com/news-release.html?newsid=8147323872573577
I would think the shareholder vote is the final step.
I would imagine once the spinout is done. But I don’t really know.
When would the shell status be removed?
Holy crap... even if it ten bagged from here the market cap would only be $6 mill... there is some serious upside here
That’s my opinion. If JobMobz / Recruiter.com achieved $1B value. The current market cap for AESO of 600K and price is a serious gift right now.
Great Deal for AESO.
I like this one too. I only post his tweets because $AESO has a 10% holding of their shares and profit sharing. Built in Revs from selling the Recruiter brand to this guy.
You could easily turn $50M cash into $1B in enterprise value in the next 24 months while returning 100% of cash and maintaining equity %.
— Jesse Tinsley (@JesseTinsley) March 21, 2024
So much opportunity right now on the M&A buy side.
PE is too slow, VC is to beat up and Lenders since SVB are to conservative.
Instead of those 3 options...
— Jesse Tinsley (@JesseTinsley) March 21, 2024
You should sell to @JobMobz we're buying and have closed 6 acquisitions in the last 12 months, with 3 more pending and plans to do 6 more this year.
Don't waste your time and money talking to PE DM me instead.
I was wrong about Fed rate cuts in Q1.
— Jesse Tinsley (@JesseTinsley) March 21, 2024
But I was more importantly right about hiring taking off in 2024.
The catalyst of course being now anticipated rate cuts instead of actual rate cuts.
As such we're hiring for well over 100+ new roles most of which are Recruiters if a…
Why have a huge stable of human recruiters to pay when AI can do stuff like this.
This is fascinating.
— Jesse Tinsley (@JesseTinsley) March 19, 2024
If AI can do interviews it's not far off from doing most of the work.
The EQ and mannerisms of AI in this clip and the last video I shared has advanced a lot quicker than most people expected myself included. https://t.co/8VX3oyROz0
Idk, I’m looking for the Name and ticker change.
ON OTC market for AESO
Just updated yesterday
Market Cap Market Cap
723,345
03/18/2024
Authorized Shares
500,000,000
03/18/2024
Outstanding Shares
47,588,490
03/18/2024
Restricted
Not Available
Unrestricted
Not Available
Held at DTC
33,646,073
03/18/2024
Float
33,646,073
03/12/2024
Par Value
0.0001
Will the share structure be updated?
I’d like to see the CO SOS updates soon after the meeting, if not before.
I'd love to get my ear into that meeting.
I've gotten nothing from IR.....yet
Till then, I'll just keep adding a few here and there. The Ask is at a killer price. I'd be averaging up, but tempting with the meeting so close.
I'd love to see us trend up after the meeting.
Perfect example GMan. All these nice nuggets of revenue scattered about in the past year. I'd like to see them collated into a nice concise presentation at the annual meeting. Show the path forward for both RCRT and AESO.
Those comments from Brent Suen look strong by the way
It’s possible the licensing agreement RCRT executed with GOLQ holds high revenue potential since RCRT only had to pay them 16.66% of RCRT O/S and an 8% royalty fee on product licensing revenues.
According to their June 26, 2023 Video presentation they had some sort of AI breakthrough presumably via Radix AI. This is from the video transcript… Gologiq BOD Brent Suen stated:
“Our tech team came to me and my COO and said we've actually just had a massive breakthrough that was, believe it or not, in April of this year, right before we were introduced to Miles and Evan and the team at RCRT. So it could not have been more timely. This breakthrough, by the way, generated 3 million in revenues on a pilot program the first month out with our partner, and this evidence points us towards a $70 million year, one run rate and profitability within three months.
So coming in as we are into RCRT right
now on the heels of this breakthrough, we think is extremely timely and extremely compelling to you all as shareholders of RCRT and subsequently GoLogiq.
——————————-
If RCRT using affiliates (CognoGroup) to license the products at an initial annual run rate of $70M - 8% to $GOLQ = $64.4M run rate.
Say RCRT splits that with $AESO 50/50, that ends up $32.2M annually just from the licensing agreement.
Seems far fetched, but is it? Radix is AI. Combine this with the other $RCRT spinout assets and could be $40M per year for the first few years as they scale and refine the products (development was as stated part of the licensing agreement).
This is all IMO, I do still think GOLQ eventually ends up in the Naz shell, which is why they listed the products could be bought for only $400K. Super cheap for tools that can supposedly generate $70 annually.
$AESO
Two years ago they were trading $3. 3 yrs ago they were at $10, split adjusted. What's left and what has been acquired that is moving to AESO, and how do they value that. That's my question. We can only piece together various statements and reports. Id would like to hear them explain their growth plans for the spin out company
From what we have posted in the past, .065-7 is doable.
I want my original cash out there and hold free going into the sunset.
Give it a few years to see how the Qs look.,
How far did these assets get Recruiter where they are today?
I would love to ask them to estimate the rev/ MC value of AESO once they transfers the assets to AESO. Someone ask BB to call in. I think he owns RCRT shares
How many of us have e-mailed IR about it being available at a later date?
I just did.
Don't treat me like some red headed adopted kid. I'm part of this family now.
Still crazy to me the 1634 watchers of RCRT don’t appear to be looking at $AESO on Stocktwits. Especially since they are being noted as a subsidiary. Guess some just don’t care for OTC.
RCRT = 1,634
AESO = 25
Bananas!
Someone will have to share the details since I don’t hold any $RCRT. No proxy code here.
Should be some good DD to come out of that if they don't rush the Question section
RCRT has an active proxy link this time around. Good news for them and $AESO since this is a subsidiary according to the PR below. Still moving forward toward value here.
https://seekingalpha.com/pr/19651284-recruiter-com-announces-annual-meeting-and-ceo-transition?hasComeFromMpArticle=false
https://east.virtualshareholdermeeting.com/vsm/web?pvskey=RCRT2024
Seems one retail MM and the other two are known bastards. Not much will change until Miles gives a reason to slap the ask, but once that happens this will move up quickly. IMO
Ave daily volume 57,500 shares today 257,000 shares up 447%
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 | |||
|
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, or will be by June 30, 2024.
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 (WA SOS) to CognoGroup, LLC, and the reorganization of Recruiter.com Recruiting Solutions, LLC to a subsidiary of Atlantic Energy Solutions, Inc. (CO SOS). Additionally, the Board of Directors authorized that management may take such steps necessary to change the name of Recruiter.com Group, Inc. (NV SOS) 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.
On March 27, 2024 The final payment for Mediabistro was made to Parrut, Inc in exchange for coverting the remaining balance into RCRT shares. This was announce via the 8k below.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1462223/000165495424004185/rcrt_8k.htm
The Company and Parrut, Inc. agreed to the conversion of the remainder of the Note, in the amount of Two Hundred Forty-Five Thousand Eight Hundred Eighty-Four United States Dollars and Fifty-Three Cents ($245,884.53) into 168,414 shares of the Company's common stock. This conversion represents a conversion price of $1.46 per share. The agreed-upon conversion has been made in full satisfaction of the specified amount of the Note, including accrued interest and penalties to date, with no other amounts due.
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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