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The first requirement is for $4 for 30 consecutive Trading Days …so around June 8th….then they can apply for uplist to Nasdaq…that will take over 2 months to complete usually ….once they are accepted then they can do the offering at the same time as they are uplisting….my target date would be more like Sept 1st that it would be complete,….but we would have info about them applying to nasdaq asap after 6/8 if all goes to plan
I don't know the finer details of how they will accomplish it. Last fall Chris went to Manhattan and met with several different investment banks that specialize in up lists and IPOs
It appears they settled on Maxim Group LLC which have a pretty good track record raising billions in capital through IPOs up lists and secondary offerings.
I also assume most of the actions they have taken as of late such as the conversion of all preferred shares to commons prior to the RS and the RS itself were at the behest of Maxim. All we can do is wait and see if they are able to follow through.
In the meantime they have announced some pretty big partnerships with heavy hitters in the industry like Channel Advisor(ECOM), Suredone, WHI(an eBay company) and others.
Never any guarantees, but of all the OTC this is the one I hang my hat on to bring long term gains and success to it's shareholders.
Good to see you here man.
https://www.maximgrp.com/
https://www.linkedin.com/company/maxim-group/
https://go.channeladvisor.com/Auto-Parts-4Less-ChannelAdvisor.html?utm_content=bufferfdbfa&utm_medium=Social&utm_source=Twitter&utm_campaign=NA-Social-Media-Twitter
https://www.autoparts4less.com/become-seller
Why "a few months away"?
The split was 4/28. I understood that all we needed was 30 days above $4.00 and we could apply. That could be as soon as next week, no?
The way things look today, we won't be above $4.00 for long.
They will have a finance offering (like a secondary ipo) that will be done concurrent with the uplist….Maxim corp is in charge of that and finding buyers for it….but that is a few months away
How they gonna uplist with only hundred something shareholders? They need I believe 400 with over 100 shares at least. I see 119 shareholders end of April when they RS.
It will never happen!
Thanks Joe, will be nice when FLES up lists and starts getting some volume and upward SP movement
You used to be a rational guy, you are the one who made me aware of FLES 3years ago.
They have had a rough patch and prior to this most recent RS they had only 15M shares in the OS since the last RS and the only reasons it was that high is they converted all their preferred shares to commons just prior to the most recent RS.
They were trading at .60 - .75 for moths after years of minimal dilution. Preferred share conversion wasn't technically dilution because they have been there all along.
Now you think they converted all their preferred shares to commons so they can dilute their own shares with the rest of the shareholders.
With a .70 share price and a 3M share float, they had no reason to RS other than to achieve $4 for 30 trading days for NASDAQ up list.
They are working with MAXIM group LLC, who has been involved in billions of dollars worth of capital raises and IPOs.
You are better than this man! I know it.
Followed thus since their reverse merger even further back lol. Still garbage
If that's what you think you haven't been paying attention for the last 2 years. You back just to reminisce?
That reverse split set them lower than square one lol. Reset the board to dilute. Ceo continues to shaft shareholders
Right LonesomeGeorge, just waiting to up list to NASDAQ, hoping in June-July, than FLES will get the attention it deserves and upward and onward FLES will go
Any word about what Management will be doing to help the pps to recover back to its old pre-split Highs?
I'm sure they're working 24/7/365 and we are moments away from some momentous announcement. Press Release. news conference that will cause this little gem to skyrocket. Right?
May is the month, right?
Have plenty of losses, that's what I plan to do ...
Well if you ever accidentally make a profit trading you could take the loss on your 2 shares of FLES
Yep, 8 million dollar loss on 11 million dollar revenue confirms reverse split stock selling dilution scam!
Thanks Joe for your input and DD, as one of FLES long time shareholders.
FLES will stay focused on the up list and then the rise in SP
Constant R/S then dilution until the next R/S is the game here...dont be fooled. 3 R/S in the last few years...look at the history.
So I guess I'll hold on to my two shares after three reverse splits
So $15.00 to $20.00 in 2 weeks ok really
Of course they were less than stellar if you gloss over what the money for losses was spent on and where it came from. The old adage is still true, you have to spend money to make money.
The cash flow for the year was only negative by 60k or so. Most of the losses were spent on marketing website development or were non cash losses counted as losses for issued options and warrants which have the potential to bring future cash.
The existing business revenues are growing and will continue to support the company as they build out the new platform. Changes and updates are happening everyday. They already announced partnerships with one of the biggest data suppliers in the industry. WHI
They also are integrating the two largest multi-channel listing services into the platform Suredone was already announced and Channel Advisor should be announced soon as they are cosponsoring a truck in a race towards the end of the month.
Revenues will improve, margins will improve and the capital from the up list will start turning those losses into profits.
If they raise the full 28M they will be debt free and have plenty to market the new platform as well as finish the initial development with millions left over for future capital expenditures.
If you don't think they will succeed that is fine, but this is far from a share selling scam and if they do fail it won't be from lack of trying.
I get it! It's not for everyone.
They weren’t pretty…they are trying to build a very high quality sales platform and are utilizing a team in India to that end….they have spent a good chunk on advertising and trying to get companies like Suredone to get their inventory/parts lists integrated with ap4less via api calls instead of Magenta servers….Rome wasnt built in a day
And... the share count will increase dramatically. Therefore referencing the 320K shares as an argument to gloss over $8 million in losses is somewhat disingenuous.
The financials were, shall we say, less than stellar.
They are doing an offering in conjunction with the uplisting to Nasdaq which is public info…this will raise significant money and increase the share count too…..Maxim is underwriting it
Not for long!!
Companies must have a minimum of 1,250,000 publicly traded shares outstanding upon listing, excluding those held by officers, directors, or any beneficial owners of more than 10% of the company.
https://www.investopedia.com/ask/answers/nasdaq-listing-requirements/#:~:text=Listing%20Requirements%20for%20All%20Companies&text=Companies%20must%20also%20have%20at,over%20the%20past%2012%20months.
Here comes the rain
Haha…there’s only 320k shares in the float ….
LMAO - lost 8 million dollars - share-selling-scam-confirmed
Xd this mean price up coming
Some of the oddest trading I've ever seen!
Hundreds of single share trades, many trading in the fourth decimal place. I usually protest when folks talking of marklet makers playing games, but this is a very weird day indeed.
Sounds good…stock needs more attn
Nice all trades so far today with FLES R @ $11.99 green
Yup $10K bid right now at 10.00. May take all day to fill if it fills at all. Float feels pretty locked up.
I'm a holdin my FLES Long and Strong for the NASDAQ up list coming soon
Yup, and no dumping, just need more of that bid support.
Hey Joe, FLES bid @ $11.75, ask @ $12
Yup hopefully longs continue to work together and hold the line all the way to NASDAQ! Would be awesome to stay above $10 into June!
FLES closed green yesterday @ $11.25 nice
Great statement joe, "Understand this is very different than you see in most OTC plays out there." agree and holding FLES for the up listing
Some need money now and will sell into stronger hands and the ask is @ $11+ now so patience is key here for FLES Longs
Except for there was minimal dilution after the last one and this one was solely for NASDAQ up list to meet the $4 trading price requirement for 30 days.
The OS was only 3.3M shares before management converted all their preferred shares to commons. Even then the OS was only 14M shares, which is tiny for the OTC before the split.
Also now that all managements shares are commons and were split with the rest of them, what reason would they have to dilute their own position down.
Understand this is very different than you see in most OTC plays out there.
GLTA
As should everyone. DD on any stock is important, way to many just follow the hype posts of others.
One can only hope, someone did just give away 300 shares at $8.
It is in the hands of the shareholders now. The share structure won't change before NASDAQ. Meaning no dilution to drive the price down, only impatient folks who never believed in the business plan anyway.
Great color. I like this play. I need to work on my dd this week….
I dont know why anyone would touch this with a 20 foot pole. Look at the track record here...R/S, dilute, R/S dilute, and now another R/S...can anyone guess what comes next...
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