Big Token Inc (fka BGTK)

[I ll be back]

Not a bad report for a mom and pop...LOL

This was the one I was looking for:

We expanded our sales force capabilities to include selling BIGtoken services to new industry verticals and markets.

The gift that will keep on giving here.

[ChadClemson1]

I also think it happens within next 45-60 days

[ChadClemson1]

x2

5x from here doesnt move needle for me

If I had to bet....

I bet we run over a dime and if we fall back we hold .035-.04

[I ll be back]

LOL

Not a moonshot, but if you look at enterprise public comparables, there's a good 5x+ upside if they see renewals and continue growth trajectory.

I've received PMs questioning the CC and the possible valuations on Big T.

Many can't believe we have dropped back to the current price levels from the highs of .10.

My response, I can't believe we even got above a penny with the 1T AS and that .10 was "just crazy".

While I agree with you on a 5x+ up side, I have learned over the years that stocks like Big T can run or drop with nothing than just pure emotion. It doesn't surprise me anymore that stock prices show a disconnect to the real value of a company.


I strongly believe we will see your 5x with the potential of a "whole" lot more. After all, that's why I play in the land of OTC...

[Hook]

Thanks for posting. Hope she gets wings soon.

[rumark27]

Earnings report out. Numbers look VERY good compared to last year.

https://www.businesswire.com/news/home/20210818005159/en/BIGtoken-Reports-125-Q2-Revenue-Growth-Year-Over-Year

[arondon]

Not a moonshot, but if you look at enterprise public comparables, there's a good 5x+ upside if they see renewals and continue growth trajectory.

[ChadClemson1]

First tweet I’ve seen from SRAX referencing FPVD

Did you miss our Q2 2021 earnings call? Watch the replay here!https://t.co/PXMRlg6a5j#earnings $SRAX $FPVD

— SRAX (@SRAXmedia) August 17, 2021

[ChadClemson1]

Im of the opinion that we will all really do well with this or we will all basically lose everything.

Almost a year since merger announcement and we are .0048 below where SRAX announced “poison pill”.

We are .0018 higher than we were after the poison pill where we hung out between .0015-.0021 for months

Either we end up really good which imo is FPVD being higher than .05-.07 not including a reverse split or they reverse split us 2-4 times and we tank each time after back to this range that gets are share count/mkt cap to a reasonable level.

At this point...Selling for .0036 is beyond dumb. I wouldnt sell for .0236 or .0336

So we either moon from here with 15-20x type run or lose big

[rumark27]

If Casper is indeed the player we're suggesting they might be, it makes things interesting. How does the Casper Crypto Coin which was rolle dout in the spring play into it (CSPR)? It is currently trading around $.11. It has circulating supply of 1.24B and total supply of 10.2B.

Thoughts?

[ChadClemson1]

Yep

[I ll be back]

Honestly, I don't know how Chris can sleep at night with all he has going on here...LOL

What do you think, IBB, worth a position?

Chris made an interesting comment related to all the chaos in the world right now. Meaning that his customers under the SRAX business model could be again impacted here.

One needs to do a deep dive into the SRAX business model to get a better understanding of this exposure as we will likely see more lock downs.


SRAX is going to do well here as the word gets out and is likely good for a 20-30% run before claiming down.

There was a lot unpacked yesterday, and I'm going to take a closer look.

IMO, I love the fact that the team at SRAX is the captain of this ship. I believe investors are only focusing on the AS/OS and are not giving the correct value to the SRAX team.

That being said, having SRAX show what the team did yesterday is going to be GREAT for our investment here in Big T.

Why, one only has to look at what SRAX as done with their business model and how they are running strong.

If I wanted a no brainer, I'd take a position in SRAX. However, I'm more in the camp of getting on board in the early stages of a potential "moon shot" as opposed to a story that is much further along.

[arondon]

Also, isn't there restrictions on the price they can sell the shares? Doesn't it have to be .015 cents or something? Didn't that just come out?

Would be curious to hear others thoughts on this, but my understanding is this is a standard provision and that restriction is only in effect until the ticker is quoted on an exchange. After it's quoted, you can sell at any price thereafter. The S-1 language confirms this.

I believe that price is developed typically with the market maker.

Since S-1 is now effective and FPVD is already quoted, I don't think there's any restrictions whatsoever on price. However, it could an intentional and instructive reference price vis-a-vis post-acquisition announcement.

[arondon]

Converting shares to crypto imo gets it done

As a macro concept, agree. But don't see the linkage yet from S-1/A, because securities have to be registered. Perhaps one possibility is "Selling Shareholders" of S-1 (srax and co) trade a large portion of their existing shares in a private transaction in exchange for new tokens. In-kind exchange.

Thereafter, the tokens could bought/sold on an exchange without raising SEC issues on the linkage between FPVD shares and the tokens. Still a bit unclear if this would work, though.

Also, I agree Chad re Casper -- I think they're involved in this.

[arondon]

Rumark, the mechanics of the acquisition are likely to be a bit different than that. Instead, FPVD will issue new shares (already authorized) to the target company as consideration thereby diluting all existing shareholders (including SRAX, us and others). That dilution, itself, will push SRAX below 50%. At the same time, I'd expect there also to be:

(a) a reverse split and/or shares retired;
(b) announcement of mid and long term vision and strategy to build BigT as leading data marketplace powered by and on the blockchain (i.e., their original whitepaper vision).

I still don't know what happened with Lou in all of this and still believe there's a nonzero chance that the acquisition is not blockchain centric and more of a pure ad tech platform play. The reason being that Lou always billed BigT as an ad tech and data company transforming to a blockchain and crypto centric company, but when he was terminated, the first and subsequent comments from Stella were about "returning to BigT's original vision" of essentially driving high ROI on ad spend. I'd be quite disappointed if that's the case.

Looking back at SRAX's history and Miglino's talks on BigT over the years, I watched how patient and methodical they've been, I still lean heavily towards blockchain play. But given Sequire's enormous growth, it's also possible Miglino just wants it off the books and is less interested/involved in the original moonshot vision with BigT.

[ChadClemson1]

SRAX float is very low.

[ChadClemson1]

Converting shares to crypto imo gets it done. Give Casper 30B coins to create/use network?

Blockchain isnt my expertise so no idea how crypto is created but SRAX clearly likes giving shares instead of cash. If they gave Casper 45B shares to convert all of the absurd dilution to crypto....

We still have 841M actual shares

Do 100-1 RS

I think Casper is def involved

[rumark27]

I think you nailed it. “*Stock for stock acquisition will lead to SRAX dilution under 50%. Also expect some recap in parallel -- reverse split and/or shares retired. “

How the heck else could SRAX get below 50% threshold in 4-6 weeks? They have 160B of 226B shares right? So they currently have 70% of shares. They'd have to unload 45B shares to get below 50% threshold. FOURTY FIVE BILLION! Our volume is 1.5 mil if we're LUCKY. That would take over 45,000 trading days if they were able to unload 1 million shares a day. Also, isn't there restrictions on the price they can sell the shares? Doesn't it have to be .015 cents or something? Didn't that just come out?

[arondon]

Yes, they did!

Huge growth in revenues and at 80%+ gross margins. Removing BigT consolidation piece, SRAX is now EBITDA positive on sequire product.

Miglino instituted $10M buy-back program and special $6.5M dividend as confidence in market's undervaluing of SRAX. Said will be paid by new SRAX sales and BigT monetization. Given size of SRAX today, these are actually quite big numbers relative to their balance sheet. Sense a ton of confidence here, including in BigT monetization. In fact, Miglino called out this value disconnect - trading only 3x/sales on latest guidance of $30-32M -- on the call.

And you know what? I think he may be right and may consider a larger position in SRAX. At 80% margins, high growth rate and large TAM, it's quite a low valuation relative to enterprise SaaS comps. (https://www.meritechcapital.com/public-comparables/enterprise#/public-comparables/enterprise/valuation-metrics)

Aside from subscriber and revenue growth, the next key test is whether their initial annual contracts renew in the next 2 quarters.

What do you think, IBB, worth a position?

[arondon]

Thanks rumark, just went through the call transcript.

A few thoughts of pure speculation coming out of that and new FPVD 10-Q:

*Based on latest update, seems very likely BigT will be acquiring a company in the upcoming weeks ("transaction" timeframe provided by Miglino). This fits with all new FPVD filings in past 2 quarters now referencing M&A as key to strategy and even the very first risk factor has changed to M&A risk in S-1's. Also fits with employee inconsistencies, perhaps (see below).

*Stock for stock acquisition will lead to SRAX dilution under 50%. Also expect some recap in parallel -- reverse split and/or shares retired.

*My guess is FPVD will acquire a blockchain platform company to get BigT platform/marketplace to market quicker.

*As part of the transaction, we may then see new crypto and tokens announced and then launched in parallel or at a later date. Since there hasn't been S-1's to connect the shares to crypto or tokens, still not sure how this ties together to market cap. Perhaps they'll announce now and file/launch later.

*Note that FPVD's S-1 became effective recently -- and much earlier than expected per Miglino's comments in Q&A -- but there doesn't seem like much selling since then. That would suggest insiders expect the price to move up.

Misc notes:

*SRAX continues its comments that the current $750M valuation of their FPVD shares is admittedly high (read: atmospheric). Of course, we -- as in those of us on this board with the blockchain/crypto theories -- are all betting on the market sustaining and growing FPVD share price in light of blockchain/crypto play.

*BigT's full-time employee count has a lot of inconsistencies between the last several filings:

-57, with 1 in exec mgmt (as of March 31, 2021; Q1 10-Q)
-58, with 1 exec (as of June 30, 2021; Q2 10-Q)
-87, with 7 execs (as of July 14, 2021; S-1)

Hmmm. 30 new employees in 2 weeks. Maybe this portends post-acquisition FPVD will be largely filled with targets' execs? Doesn't fit with transaction timeline if deal hasn't closed, but certainly interesting data point here.

[I ll be back]

SRAX had some damn good news today.

The 800% year-over-year increase in revenues is NOT bad, it would tell me that these guys know how too make money in a very big way.

It was also impressive to see how they are building share holder value.

My gut says we have the same path ahead for Big T with SRAX overseeing this train.

Having SRAX holding 159B shares should play well here.

[ChadClemson1]

I think the transaction is crypto related. No doubt

[I ll be back]

Thanks!

[rumark27]

Of course! Posted the link below in one of previous posts

[I ll be back]

Thanks for the update.

I was out on businesses today and didn't get to listen.
Do you happen to have the link for the replay?

You raise an interesting point.

10:00 – SRAX $10M stock buy back and one time special dividend of approx. $6.5m to shareholders on 9/20. Part of this will be paid for by monetization of bigtoken position. If able to monetize BIGtoken at a higher price, this will increase as well. Whatever we can get for our FPVD position, combined with stock we’re getting and market place sales, we’ll use that money to go into market and buy stock back.

See More

[rumark27]

- 4:05 – Entire position in BIGtoken has now been registered with SEC.
- 8:13 – BIGtoken S1 went effective, all of our shares in FPVD are registered. 159B shares. We can start to monetize that asset over time.
- 10:00 – SRAX $10M stock buy back and one time special dividend of approx. $6.5m to shareholders on 9/20. Part of this will be paid for by monetization of bigtoken position. If able to monetize BIGtoken at a higher price, this will increase as well. Whatever we can get for our FPVD position, combined with stock we’re getting and market place sales, we’ll use that money to go into market and buy stock back.

Q&A
- 22:15 What is your plan to get under 50% of ownership for BIGtoken in not too distant future? There’s a transaction (something we’re working on) with BIGtoken that would make us unconsolidated with BIGtoken, and that looks definite it’s going to happen in next 4-6 weeks.
- We’ve looked at the idea of dividend of BIGtoken shares, but we’d have to do it in a similar way to this dividend we’re executing. Preferred share, sell it on own, then pay dividends out to shareholders.

Rest of Q&A was trimmed out on replay, and on live recording some IT issues prevented a clear response to the last question about how they plan on monetizing shares.

[rumark27]

Typing up my summary now. I’ll post it here.

[rumark27]

Sorry thought this was a private message. SRAX earnings call link below. LOTS of BIGTOKEN news. https://srax-earnings-q2.mysequire.com

[rumark27]

Emailed

[ChadClemson1]

Do u have a link

[stockstobuy]

Am i looking the OS right because it says 226B?

[rumark27]

SRAX earnings call this afternoon. I sent the following message last week and received the response below. Hopefully they address it.

“On the last earnings call Chris mentioned the plan of monetizing a large portion of BIGtoken shares, and provided a timeline of 3-6 months (which is right about now). Is this still the plan? Can you please expand on how you plan on doing this? Thank you”

“Great question and thank you for reaching out. I am passing this along. Please join us Monday at 1:30 pm PT / 4:30 pm ET for the call, and let me know if you have any more questions you'd like to add.”

[Swamp_gas]

Interesting plot to this book.

[ChadClemson1]

https://www.prnewswire.com/news-releases/srax-intends-to-pay-cryptocurrency-dividend-with-bigtoken-300562373.html

[I ll be back]

Agreed!

Good luck on those 4. I'm banking on the fact, that as we get closer to the ticker change, more traders/hunters will start showing back up and making a support play here.

Seasoned traders knew we would be dead money here, while management lied up the ducks. Watch what happens as the duck hunters start looking for a blind too wait it out...LOL

[Hook]

Crypto alt coins making good moves now. Hoping to buy more low 4s while we're down here..but can't quite get the bids filled yet. Will Big token app be ancient history by time they get everything organized, built, reorganized, researched, designed implimented?...zzz. Hoping for best. Maybe they have some other PHASE 2 app or strategy Im missing. Regardless, good management team, good mother company. Fingers crossed.

[I ll be back]

Don't believe the janitor is in play, just yet.

Likely some folks considering the clock is winding down here...LOL

[ChadClemson1]

Yep

[rumark27]

Some decent sized buys today compared to what we’ve been dealing with. Hopefully the janitor knows something!

[I ll be back]

Great to see we are one step closer.

[ChadClemson1]

same

[rumark27]

Me either. But yesterday’s amendment and original filing were both very long and I’m not going to spend time comparing line by line.

[ChadClemson1]

I couldnt find anything diff about the filing yesterday vs the one on Tues/Wed

[rumark27]

Looks like S1 is now finalized. https://www.sec.gov/Archives/edgar/data/0001518720/999999999521003051/xslEFFECTX01/primary_doc.xml


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Notice of Effectiveness
Effectiveness Date: August 4, 2021 5:00 P.M.
Form: S-1
CIK: 0001518720
Company Name: Force Protection Video Equipment Corp.
File Number: 333-258154

[I ll be back]

Arondon, back at you.

I am not going anywhere, I paid my "token" for this space ride and plan to ride this one to the moon and beyond.

There's still a missing link for me: how do they sell BigT tokens to the general public, then, if its linked to the share structure but not part of the S-1? Maybe phase 1 is only BigT, itself, purchases and gets the ecosystem going. And then later issues a new S-1 and/or a new tracking share like SRAX did a few years ago.

There are several missing pieces here.

Chad brings up some interesting information on his experience with the app.

I am of the opinion that while SRAX is working through those issues, that the team working on this, has the knowledge to pull the different parts together.

This is not a typical mom and pop that we find in OTC land. They know that they are going to have to offer far more than the $15 to retain users.

They likely also have a game plan on how the tokens get into the general public's hand. Otherwise, the whole model would fall apart.

My experience an intuition is why I purchased and held the stock. The ONLY reason I am holding without ALL the facts is, we have a professional management team in place with the bios to show they have a track record.

As for SRAX buying up tokens. I do not believe SRAX would take any path that would have the illusion of placing them at risk of with the SEC. IMO buying tokens here would create that possibility. I could be wrong, but I don’t see them buying tokens just yet.

[ChadClemson1]

Maybe app questions have slowed to ensure more people can cash out once BigToken is buying the BigTokens for .015 per share from SRAX/Other Holders of record at the fixed cost.

If 8M people cashed out per week....Thats 8B coins eaten through a week.

[arondon]

Certainly in your camp re the crypto link and nice post Chad.

I'd have expected it to be included in the S-1, though, if they are linking the offer of BigToken tokens as SEC registered securities.

You do raise an interesting counterpoint that perhaps BigT is the one purchasing the tokens -- not through a public offering -- and maybe that still enables the linkage to BigT capitalization without running afoul of securities laws. BigT could use a portion of its revenues from each campaign to use to purchase tokens and offer as rewards to BigT app users.

There's still a missing link for me: how do they sell BigT tokens to the general public, then, if its linked to the share structure but not part of the S-1? Maybe phase 1 is only BigT, itself, purchases and gets the ecosystem going. And then later issues a new S-1 and/or a new tracking share like SRAX did a few years ago.

Good to see you again IBB and Rumark!

[ChadClemson1]

yep

[I ll be back]

I also share your thinking and have for some time.

The OS had to be artificially raised to create crypto coins. Apple for example couldn’t create an Apple Coin to generate capital without authorizing an equal amount of shares.

It's sad that a number of investors have focused on the AS and not "the rest of the story".

I also believe that once the ticker is approved, the market will get to understand this crypto play.

It is difficult at best to understand what the RS ratio will be. However, your estimate might explain why we last ran to .08 to .10 on the last run.

If I am correct this would take the pps to .05-.15 per share and via 100/1 reverse split would be $5 to $15 per share

When you consider what we "thought" we knew in September 2020, versus what we "know" today, I'm a happy camper. Patience will payoff here.

[ChadClemson1]

Yep. I think all those diluted shares that scared everyone are for rewards/crypto.