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It comes down to how many IPSI shares will we get for each thousand BZWR shares. Today, if we get 14, we are about even. (1000x.003=$3, 14x$0.214=$3)
25 shares would put us back around $0.005. 50 shares and we would break one penny.
Would creditors or preferred shareholders stand for less than 14 IPSI shares for 1,000 BZWR shares? I guess we will find out.
I don't think it matters if BZWR goes gray, or what BZWR was doing back in August or November, at this point. It may all come down to whether this merger succeeds for us to have any stock to trade.
ugh...i'm sorry guys...I'm the death knell for any company if I invest.
UH OH - 15 days to file or will go to the expert market.
BZWR has entered the Grace period.
https://www.otcmarkets.com/stock/BZWR/disclosure
Securities enter a Grace Period when OTC Markets Group is no longer able to confirm that the issuer’s disclosure is current and publicly available as required under Rule 15c2-11. When a security enters a Grace Period, it can continue to be publicly quoted for 15 days. At the end of the 15-day Grace Period, if the required disclosure is not available, the security will move to the Expert Market for unsolicited quoting only, unless OTC Markets Group determines another exception under Rule 15c2-11 applies, such as the Large Company/ADTV exception.
This deal may make creditor Keystone better off, and they appear to be on board instead of foreclosing or filing lawsuits:
Keystone Capital Partners LLC is acting as collateral agent for the holders of such notes, include IPSI as the holder of the BZWR Note.
Do you understand this:
I don't care at all.Just nonsense to pursue.
Also, i am not a big penny investor.
I have a few, but most of my investments are in BONDS with less amounts in quality NYSE and quality Nasdaq stocks.
End of my response on this topic. Not going to respond again.
I re-read what you said multiple times and couldnt figure out what you meant. I think he'll stick around, why not, he could have control over his piece of the pie.
The point is Rhett would not be charge.
Don't think he would go for that.
Run it as a parent?
Don't know what you mean . All shareholders will be holding IPSI shares!
IPSI is the company not BZWR and Rhett eventually will be booted or resign.
to your statement "he would be running it as the parent company and not a subsidiary." - you mean as the overall top dog of IPSI, no chance in the world that is happening. Running the subsidiary or however we want to call it, sure why not, sounds like he's passionate and knows what he's doing, just needs a nudge to get over the hump. IPSI and lenders are that nudge.
OKAAAAY.
Everyone is an expert.
Clearly the investment community and people that move the price have shown no interest in either company.
Just a fact. IPSI is a bad company . Balance Sheet is atrocious.
But i guess you know better.
Do what you want, i do not care.
I made a lot of money in BZWR years back when i sold @.35. The shares i have now are what is left of that lot i didn't sell.
I have no plans to invest in BZWR with new money.
As a BZWR investor I definitely have a vested interest to push it. They probably dont have much of a choice, look they are very late in filing which is bad for anyone wanting to lend to them. IPSI has never had a late filing in its history (a few NT-Qs but always filed by end of grace period) they dont play around. Also I have looked at it before the announcement, I've looked at other Fintechs as well.
No kidding it is not binding.
Why would IPSI even make an offer when the financials should be filed any day now--they couldn't wait.
BZWR will not go along with any offer, unless they have no choice which is only if the company is going out of business.
By the way i am a long term investor not a trader like you who never looked at BZWR before IPSI announcement.
So as a IPSI trader you do have a vested interest to push it.
Im continuing to buy in the .003s, I call this a buy at these levels and a strong buy in the .002s.
thats why its non-binding, IPSI will need time to see whats really going on before moving forward. As far as getting some of that info upfront, I assume a non-disclosure has allowed IPSI to see what the possibilities are, nothing wrong or illegal with that at all. And I assume they like what they see.
We just need time at this point to let it play out.
In the meantime as mentioned the filings will tell a lot, but it wont tell the whole story. Reading into the filing they have some funding to help get things over any hump.
Yes.
I do believe BZWR is Rhett's baby(since he is a founder) and wants BZWR to flourish.
He has spent many years and hours to grow BZWR and wouldn't just let another company take over unless he would be running it as the parent company and not a subsidiary.
BZWR is now at or close to a turning point.
The financials , especially the 1st QTR.11/30/2023 will tell us if that is true or not.
Makes me wonder why a proposal was released now, before the Y/E and the 1st quarter financials are released. How can a proposal be make when you do not know what BZWR is worth as of 11/30/2023 or currently.Only financials that are public is 5/31/2023.
Were the they shared with IPSI?
I would think not, could be a problem for Rhett with the SEC if so.
Good points to make because both companies show poor results so far, but it looks to me like Rhett is all in. The note is already a done deal and also connected "with the LOI and the Proposed Transaction". I doubt that after having received the $158,333 proceeds Rhett would now want to walk out on the proposal. Perhaps that connection in some way explains why it costs $67,857 to borrow $158,333. But I don't know what was gained by that $67,857 original issue discount amount.
On February 12, 2024, and in connection with the LOI and the Proposed Transaction, the Company (utilizing a portion of the proceeds from the issuance of the Notes) loaned funds to BZWR in the principal amount of $226,190, which includes an original issue discount equal to $67,857, netting BZWR proceeds $158,333.
Do your research, look thru the PRs and check the companies they are doing business with.
Some really fast and loose math:
If IPSI increases its issued stock to give BZWR shareholders 40% of the new outstanding shares total, I calculate that the dilution would make an IPSI share decline from around 22 cents to around 13 cents. If BZWR would be about 1/2 cent a share, BZWR shareholders would need one share of IPSI for every 26 shares of BZWR that they have now, to remain with about the same value of their investment.
Of course, this assumes that share prices remain about where they are now.
I have no idea what the rate will be set at, but BZWR apparently needs to convert its preferred shares and debt into common shares before this would close. I don't know at what rates the conversions would be. But BZWR share price has not moved one way or the other to anticipate this, so far.
Do your research, look thru the PRs and check the companies they are doing business with. This is going to be a boom.
I'm not sure how this "merger" could be of any benefit to BZWR.
I get more of a penny junk stock vibe from IPSI
(dragging out investors with "deals" and spitting out
more shares, reverse split(s), while the exec(s) pull in a salary...but nothing business wise ever really happens) seems like a great business
model...work from home...all done from a website and post office...slap on the wrist from the SEC if caught (gotta get a real job for a year two
while the ban plays out)
IPSI from the short little dive I took into it looks like its been doing
similar type things "acquisitions" for a few years...but never getting anywhere.
Had higher hopes for BZWR than this...seemed like a real company two or so years ago when i bought in.
Rhett foresees a super 2024 in a YouTube video posted at
IPSI dollar volume may finish over $10k today, but still no reaction in BZWR trading. If you want to get in before BZWR's public announcement of this deal, it looks like you still have a chance.
Sure would like to see Rhett's comments on the proposal and what it means for shareholders as to value per share and the amount of shares per 1000 shs of BZWR they would receive. I know IPSI stated 60/40 ratio, but would like to see the number of shares.
Market cap of IPSI is approx $3.2 million.
IPSI had a 10.2 million( loss) in 2022--- and no no sales a/o 9/30/2023 with negative stockholders equity of(6.8 million) with limited cash. Not a good Balance Sheet. Nor does BZWR have a good Balance Sheet.
So would BZWR go from a bad company to be part of another bad company.
Yes, i know IPSI is an emerging company with potential. Isn't that what was said about BZWR.
So far neither stock is acting favorably to the proposal.
IPSI and BZWR have made the "1-Hour Ticker Buzz Cloud" in iHUB's "Hot" tab. For good reason! BZWR has found a way forward and IPSI can enter a new phase producing revenues.
60/40 ratio proposed:
The total consideration provided to or for the benefit of BZWR equity holders (including holders of warrants and other outstanding preferred stock or other convertible securities of BZWR), as applicable (the “Transaction Consideration”) would be in the form of newly-issued shares (the “Transaction Shares”) of Company common stock representing forty percent (40%) of the Common Stock immediately following the Closing.
This is a good opportunity to get the lenders for these two companies whole, I feel like both sides are motivated to make this happen. They didnt give a timeframe but I would hope a "few weeks" to get the due diligence done. Meanwhile IPSI moves forward with the account to account and normal credit card transactions for high risk which is where the juice is b/c we get paid more for those kinds of transactions.
Question posed to Rhett (CEO BZWR) on his Twitter account:
martin aka UM
@mindwhat
@RhettDoo
??????
No comment on the proposed merger announced last night by Innovative Payment Solutions, Inc. with BZWR?
10:29 AM · Feb 27, 2024
·
IPSI's proposed acquisition of BZWR (IPSI's Form 8-K yesterday) has produced no trading interest as of a few minutes ago. So far this morning, IPSI is down a little with $800 in dollar volume. BZWR is down a little with $450 in dollar volume. Perhaps a press release would cause something to stir.
We..will see..how far momentum takes us tomorrow. Could be a wild day.
Congratulations BZWR shareholders and welcome to IPSI world. This could be an incredible union if it gets consummated, which, reading the detail provided, sounds very promising.
https://www.otcmarkets.com/filing/html?id=17306841&guid=Bcd-kq5omGj4B3h
Friday (May 1st) is the beginning of the 3rd quarter of the fiscal year, and the Annual Statement of the prior year still has not been filed.
Just amazing.
Was he referring to "paying the auditor"?
We are down to one item to close out with the auditor,
Just to put it in perspective,it is just about 6 months since the Year end statement date was ended and 3 months past the due date, and still no financials.
BZWR is not exactly an conglomerate. Statements should not be delayed that long for a company this size..
Waiting to see what reason Rhett will share with the stockholders as he said he would and indicated it would be today or tomorrow (Wednesday) which is early in the week is what he said last week.
Just have to wait and see if they are filed by Wednesday night.
got it. thanks
About 9 months ago, BZWR filed an S-1 for the purpose for up to 192,413,263 shares of our Common Stock, issueableto warrant holders upon the exercise of the Warrants.
Since nothing happened and BZWR didn't amended or withdraw the filing , the filing was declared it was out of date and must be either amended to comply with the applicable requirements of the Act and the rules and regulations.
.
Since nothing happened and BZWR didn't amended or withdraw the filing the SEC declared the filing closed.
So, BZWR would have to do a new filing if if they want to issue the 192 million shares for the conversion of warrants..
i tried to read about what that means but it sounds like a foreign language
Just a standard action---
UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
February 14, 2024
_______________________________
In the Matter of
Business Warrior Corp.
455 E Pebble Road - #230912
Las Vegas, NV 89123
ORDER DECLARING REGISTRATION
STATEMENT ABANDONED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED
File No:
333-270900
_______________________________
Business Warrior Corp. filed with the Commission a registration statement to register
securities under Section 6(a) of the Securities Act of 1933. The registration statement has been
on file for more than nine months and has not yet become effective.
Business Warrior Corp. has failed to respond to notice under Rule 479 that the
registration statement would be declared abandoned unless it was timely amended or withdrawn;
In view of the foregoing, it is ORDERED that the registration statement be declared
abandoned on February 14, 2024.
For the Commission, by the Division of Corporation Finance, pursuant to delegated
authority.
Larry Spirgel
Office Chief
Financials earliest not before the 20th (19th is a holiday). Amazing. SMH.
Rhett Doolittle
@RhettDoo
We are still wrapping up our fiscal year financials & publishing them ASAP. We are down to one item to close out with the auditor, so will most likely publish them early next week. We will address the reasons for the delay & what we’re doing to remedy going forward. $BZWR
5:01 PM · Feb 13, 2024
·
Bad news: the share price was low. Good news: total dollar volume of the trade was only $5.55. It is hard to guess where the share price may go if there is news and millions of shares trade. Today's one trade is no clue at all about that!
I think this is last time I invest in this stuff. I’m going to stick with rental houses or take more vacations. This is annoying.
Correct, not BZWR PR man. Just hoping that they can turn the corner after a long struggle, and guessing that if they don't, it will be a Ch.7.
Who ever implied they are going belly up.
However ch11 this year cannot be ruled out.
There is no defense for BZWR. Rhett has said before that filings will be on time. All of his PR's are meaningless.
If they can not file on time for years, there is no confidence they can succeed with sales or growth--just the real world.
You almost sound like you are working for BZWR as a PR man-- I know your not though.
Like i said before, there is no acceptable excuse.
Believe what you want if it makes you feel better.
Correct, it is not OK. Of course, delinquent reporting is bad. It just doesn't mean that they are about to go belly up or that the share price should take another dive. They have done it this way before.
I'll grant you that as time goes on, the risk increases that their possible new investor deal collapses or sales stop growing. But we already know that August had some progress and that they are working on an audit. Plus, no word has gotten out that they are ceasing operations, or the share price would be $0.00001.
Come on.
So that makes it oK because last year they filed 2 1/2 months late, so it's OK if they do it again.
No not acceptable.
I am an Account and filed 34 annual statements for a company that has 20 billion in assets, and never filed late or filed for an extension.
"Filed 02/15/23 for the Period Ending 08/31/22" That was last year. If they repeat, we would see the report in nine days. No cause for alarm, yet.
yeah thats bad i didnt realize we were waiting on august still.
24 days after today, the 2nd Quarter 2/29/2024 ends. Also the 1st quarter for 11/30/2023 is delinquent.
And BZWR hasn't even filed the 8/31/2023 financials yet.
Really sad to say the least.
The early selling today got me the first half of what I wanted to buy, at below the $0.003 that I bid. But now the best ask has returned to $0.005. Maybe that's all I will get. I am not concerned that the reports are delayed. We've seen it before. I'm expecting nothing great in the Aug & Nov reports. but that some new investors are in play. Big question is will they stay on their growth trajectory as February closes. Hey, I'm bullish. Their software could be doing the job for their subscribers.
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