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FUUUUUK THE OTC STOCKS STICK A FORK IN ALL-EM!!!
It was 3B months ago, then there was an AS reduction that showed 250M at OTC Markets, and now it's back to 3B. But I do think it's a mistake, as NVSOS shows 250M.
All that said, the more I think about it, the more this looks like about the worst merger deal imaginable.
1) American Heritage Investment Capital bought the control bloc of CCWF.
2) CCWF, which American Heritage controls, bought American Heritage's "assets" they'd self-valued at $60M for a $57M (principal amount) convertible promissory note. There's no mention of conversion terms or interest rates.
3) These so-called assets are in the form of "its interest in certain oil and gas Leasehold, which are all located in Oklahoma and Arkansas." There's no evidence this is an accurate valuation, or whether it refers to the alleged value of oil theoretically extracted from these leaseholds before or after the expense of extraction.
4) There's no suggestion and certainly no guarantee a drop of oil will ever be extracted.
Overall, they traded their own self-valued leases which they claim may be worth $60M for a $57M note (probably earning them interest), and left CCWF with $57M in convertible debt that the company is obliged to pay to the owners of CCWF, aka American Heritage Capital. The deal is totally self-serving and incestuous. It's probably the worst merger deal I've ever seen in the OTCs. It's worse than the fake mergers you see all the time in the pink sheets, because those usually take years to amass a couple million in convertible debt. This one is starting out drowning in insurmountable, unfathomably enormous convertible debt.
All that said, nice low float for now - I can't find anything else good about this stock.
Just my opinion, but I think it's a total dud.
It always showed that. I have a screenshot from months ago..as stated it will adjust to reflect the NVSOS
That is correct it will adjust shortly as merger is progressing
« Disregard the AS number, the NVSOS has the correct number at 252,000,001 »
https://twitter.com/doodleafricanus/status/1511111971164196864?s=21&t=pxcMZAHjz4ouIFkhD7XTTQ
What yikes it’s AS.
Just saw this. Was wondering if it was a mistake. If not, yikes!
Authorized shares back up to 3 billion from 250M at OTC Markets - it's possibly just an error related to the annual report showing 3B for the year ending Dec. 31, 2021. NVSOS still shows 250M authorized.
Outstanding lowered to 95 million
All updated.
https://www.otcmarkets.com/stock/CCWF/security
LOL, right - I'm sure Biden decided to take some time away from assorted global catastrophes to check in on Frank Igwealor's latest penny stock custodianship play.
Knew nothing would happen today pumpers
I sold because the OTC Stocks..GOT CAPPED BY BIDEN!
yep, we've been in some good tickers before, but indeed any stock can turn either way. I do have serious reservations about the CCWF deal here: seems the buyers of the shell used CCWF to pay themselves via $57M promissory note for their oil rights, a value they attributed to those rights themselves. In other words, they claim to have $60M+ worth of oil lease rights and bought a cheap shell to pay themselves almost that much in the form of a convertible note. So it's not an arm's length transaction, and it's pretty clear the main beneficiary here is American Heritage Investment Capital, Inc., who just went from having "rights" to being owed $57,000,000 by a company they control. Pretty incestuous setup here. CCWF, the publicly traded company, now owes American Heritage Investment Capital $57 million, and the public company is now on the hook to develop those leases and generate cash to pay off that $57M note. Depending on the terms of the note, they may very well take on additional financing and dilute substantial shares to pay off the note (aka pay themselves). Maybe they can spin this into something optimistic, but I'm not seeing it.
LOL. Dont count on my buying. I have had my share of losers. This one looks good enough I am willing to take my chances here. Listen to Horst. He is much better at the DD than me. Any stock can turn either way very quickly. They are all a gamble no matter how good they look.
I don't understand why you're telling me this lol.
ProfitChaser is BUYING CCWF VERY SUCCESSFUL INVESTOR FOR YEARS
Well, a $57,000,000 convertible promissory note is most definitely a note and most definitely debt. And it's not "no dilution," but "no unnecessary dilution" that Igwealor referenced on twitter, and "unnecessary" is in the eye of the beholder - I can't imagine what legally binding criteria Igwealor could impose that would strictly define necessary vs. unnecessary dilution.
Btw, I've had shares since Sept. 2021 and have followed the custodianship closely ever since. But I think it's best to be realistic and represent the facts accurately. The company took on $57M in convertible debt to acquire interest in oil and gas leaseholds valued by the seller of those leaseholds at a somewhat higher valuation. But the details of that valuation haven't been disclosed yet, nor have the details of what it would cost to realize that value in terms of oil extracted and sold.
Worth being cautious here imo until more is known.
CCWF ALL MUST Click Twitter Link In Post>1622..No>Notes>No>Dillution
CCWF Going To Put A Fire Under The >OTC...$1BILLION>RMer
Reduced OS To 86mill FOR>GOOD>REASON..$57Mill >Lenders>Know>A>GOLD>MINE
$$$$$> CCWF <$$$$$
You know I’ve come to that conclusion, I wonder why crap goes up and some real great stocks just sit in the toilet.
I’m not. I’ve learned not to lol only crap stocks go up
I don’t want to get overly excited, but I’m excited!!! Lol
OS will be approx 85M
Everyone is basing value off of the shares outstanding, showing 185 million, Aren’t we over 70 million less? being the share cancellation isn’t showing up yet. Brings value much higher.
The oil is at 99.42$ today so it’s just under the 1B$ lol
Still barely any eyes on this. Less than 150 followers over on stocktwits. We should hit the breakout boards imminently, with any luck.
CCWF RMer...Oil At $100 A Barrel Is A >$1BILLION>RMer
All Is Excellent..Click Twitter Link In Post 1622
Mods..Please STICKY POST 1622 I'm Replying To!
All Good.. See Twitter Link In Post 1622
This company is now 100% leveraged with a convertible note. No operatiing funds for production. Where is new capital coming from?
Yeah..the penny market got orders to smother it.
Monday will come and no buys will come in lol this market blows
AND CCWF Just Reduced OS Shares To Only>86million>Shares>WOW!
CCWF BUCKLE UP FOR SAFTEY LOL
THATS HUUUGE...NO DEBT..NO TOXIC NOTES..NO REVERSE SPLIT
CCWF Bodda-F-ing-Bing $900,000,000. MILLION IN PROVABLE PROBBABLE RESERVES..WOWZZZA!
Thanks for the link - I hope that's the case. I'd still want to see the actual terms of the note. It's convertible, but maybe not with discounted shares if indeed it's not toxic. The term "unnecessary" seems pretty subjective regarding "no unnecessary dilution" - would also want to know what that means in practical application.
But overall, glad to see the ball wasn't dropped here. Let's see what happens...
Agreed. I am still locked and loaded here.
I’d say the wait was worth it !!
Was down to the wire there - seems OTC Markets may have a little grace period... Glad to see the merger is a done deal, and that they filed the disclosures. Great valuation of the assets. However, this is concerning: looks like CCWF now has $57M in convertible debt (compared to zero debt when it was a shell). That's a lot of debt, and that valuation of the oil assets, if accurate, would probably take many years to realize. Unknown yet what the terms are of the convertible note are (conversion rate, interest rate), but certainly it's a big windfall for the seller of those assets to CCWF.
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