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Just saying what? Deal was scratched. Idiots sold. End of story.
WOW!!! Down from .08 to .04 in less than a week!!! Just sayin!
No they never stop diluting.
Like I said, algo program.
Someone is playing mind game$.
We went from 500k on the bid to 260k on the ask. Smh
I hope that's not true.
There's an algo program running on this stock that doesn't allow it to go up. Which is insane given the float and revenue
And then they take it down, inexplicably.
Someone has absolutely been messing with this stock and company for months.
Fully audited QB with $35M in revenues and a 50M float and $7M market cap. GTFOH
I was on the MEOA conference call....the vote was over the needed 65%... merger was supposed to happen within 48 hours and the stock/MEOA the next day ran up 350% and then halted. You can't even make this shit up.
Merger will happen but with someone else. IMO
The run-up of MEOA did destroy the merger, correct.
I'm convinced that the boiler room guys that showed up on MEOA that day sabotaged the merger.
And just as I say that, 500K bid which these idiots should be doing at a $7M market cap.
There are some savage brutes who hate this stock for whatever reason. Algos have been set to crush it for years - should be trading like ICCT which moves with ease. This is like a lead balloon which makes literally ZERO sense given their revenues and given the small float
LOL.... obviously on both ends
For anyone trying to PM me I don't pay for ihub any more, definitely not worth my money now that the OTC has turned into full-on steaming pile of garbage
Let her follow me....I'm gonna have the last laugh.
You are a clown. And have never been right on anything
Correct. There's a couple of ways to uplist and I heard a r/s is NOT an option, and because uplisting on your own is so difficult (even though I had a stock in 2000 that did it on their own onto AMEX) I believe we'll see Digerati merge with another company that's trading either on the NYSE or NASDAQ.
IMO
"just saying" is correct, but I disagree with the other lies.
SMFH
Because for obvious reasons they need to get off the OTC, hopefully they'll find another way out of this hellhole.
It never seemed like a good arrangement to me. Why should our beloved DTGI be propping up these other companies when it can stand on its own merits? It's going to make us all very rich one day!
Unreal. Can’t catch a break in this garbage market.
I think they were pretty far along the traditional uplist path already before the SPAC combination - probably wouldn't take too long to pick that back up
The drop were just people speculating on the business combination leaving the door after the termination. And in todays OTC markets they can drop it a fast 50% on nothing more than a view sell orders.
Curious to see what they will do now. They mentioned "back to acquisition strategy", which is great. I hope to see some kind of non dilutive funding for that, but now the chance for a multibagger is much bigger than before.
The business combination called for 16 cents assuming $ 10 starting price. Yes, there was a chance to get quite some more, as MEOA traded around 26, but some brokers dont allow selling on the first day of trading after the combination, and it would have dropped like a stone probably. So the risk was quite big in my view.
Now it will take longer, but chances are bigger to get more out of it. Especially at these prices down here.
Yeah the drop today is just insane. Same business, higher revenues - and I assume they will probably uplist like they were planning on doing before just not through a SPAC
This stock is Exhibit A of how completely broken the OTC has become. It can't even get close to a proper valuation.
I have been quietly waiting for the business combination to go through, but was quite disappointed with the pricing (around 0,16 per share).
I just doubled down here, as I think its worth far more than those 16 cents in a better market. Will hold this as long as it takes.
$5m market cap for a QB company that's generating $32m/year.... Come'on man!
I will agree with that.
There's a better chance of aliens kidnapping me than this thing going back to .25 again, the OTC is fundamentally changed for the worse
Not when you & I were the only ones buying it @ .025--.03 and it ran to .25 :)
It's been a nightmare and you know it. I do however think what's being done to it today is just insane, .03 cents? WTF
Fundamentally, best OTC I have ever owned in my life.....NO dilution, low float, generating $32m and WAY UNDERVALUED.
Buying opportunity
Do these scumbag market makers realize that this is still a legitimate company with $35M in revenues? They took it to a $5M market cap now
I trust you!!! LMAO!!!!!!!!!!!
loaded boat load lower .03s
What an absolute nightmare
Can't believe the deal died, WTF. They better have a backup plan.
This is the most MM's I have seen in quite a while. Expecting action? LOL
And yet we're at a $10M market cap, just insane:
Digerati Technologies Reports 50% Year-to-Date Revenue Growth to $23.908 Million Through Third Quarter FY2023 - Strong Gross Margin Improvement to 63.6% - - Operations from Multiple Operating
Units Fully Integrated in May 2023 - SAN ANTONIO, June 16, 2023 (GLOBE NEWSWIRE) -- Digerati Technologies, Inc. (OTCQB: DTGI) ("Digerati" or the "Company"), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business ("SMB") market, announced today financial results for the three months ended April 30, 2023, the Company's third quarter for its Fiscal Year 2023, and nine months ended April 30, 2023. Key Financial Highlights for the Nine Months Ended April 30, 2023 (Compared to the Nine Months Ended April 30, 2022) -- Revenue increased by 50% to $23.908 million compared to $15.959 million. -- Gross profit increased 56% to $15.210 million compared to $9.756 million. -- Gross margin increased to 63.6% compared to 61.1%. -- Non-GAAP Adjusted EBITDA income increased by 25% to $2.249 million, excluding all non-cash items and one-time transactional expenses, compared to Adjusted EBITDA income of $1.794 million. -- Net loss increased by 48% to $7.012 million, compared to a net loss of $4.726 million. -- Non-GAAP operating EBITDA (OPCO EBITDA) income increased 47% to $3.292 million, excluding corporate expenses, all non-cash items and one-time transactional expenses, compared to a non-GAAP operating EBITDA of $2.451 million. Key Financial Highlights for the Third Quarter Fiscal Year 2023 Ended April 30, 2023 (Compared to Third Quarter Fiscal Year 2022 Ended April 30, 2022) -- Revenue decreased by 4% to $7.837 million compared to $8.163 million. -- Gross profit remained relatively flat at $4.958 million compared to $5.002 million. -- Gross margin increased to 63.3% compared to 61.3%. -- Non-GAAP Adjusted EBITDA income decreased by 23% to $0.621 million, excluding all non-cash items and one-time transactional expenses, compared to Adjusted EBITDA income of $0.804 million. -- Net loss increased by 158% to $2.244 million, compared to a net income of $3.902 million. -- Non-GAAP operating EBITDA (OPCO EBITDA) income decreased 6% to $0.999 million, excluding corporate expenses, all non-cash items and one-time transactional expenses, compared to a non-GAAP operating EBITDA of $1.059 million. Arthur L. Smith, CEO of Digerati, commented, "Our nine months year-to-date results were strong even before completing the full integration of multiple operating entities in May 2023. We will end our fiscal year with an integrated platform branded as Verve and optimized for scaling via organic and/or acquisition growth. The full operational integration included combining people, processes, and systems that resulted in single billing, ticketing, CRM, and accounting systems." Smith, continued, "As we go into our final quarter, we are back at record levels of sales and new installed revenue. This will help offset revenue loss in the 3(rd) quarter due to the winding down of legacy revenue streams, closed customer accounts that did not meet our profitability objectives, lost revenue due to Hurricane Ian, and the closing out of legacy cancelled accounts from previous acquisitions." Antonio Estrada, CFO of Digerati, stated, "As of May, our plan of integrating the operations of our previously closed acquisitions is now behind us and deemed a success. I commend our team for successfully executing our integration playbook. In addition, we are now hitting our stride on sales and service delivery and look forward to sharing our progress with shareholders over the coming months and quarters." Nine Months ended April 30, 2023 Compared to Nine Months ended April 30, 2022 Revenue for the nine months ended April 30, 2023, was $23.908 million, an increase of $7.949 million or 50% compared to $15.959 million for the nine months ended April 30, 2022. The increase in revenue is primarily attributed to the increase in total customers between periods due to the acquisitions of Skynet in December 2021 and NextLevel Internet in February 2022. Gross profit for the nine months ended April 30, 2023, was $15.210 million, resulting in a gross margin of 63.6%, compared to $9.756 million and 61.1% for the nine months ended April 30, 2022. The increase in gross margin is primarily due to the addition of higher-margin revenue associated with NextLevel Internet's UCaaS product line and the acquisition of Skynet in December 2021. Selling, General and Administrative expenses (excluding legal and professional fees) for the nine months ended April 30, 2023, increased by $4.716 million, or 58%, to $12.852 million compared to $8.136 million for the nine months ended April 30, 2022. The increase in SG&A is attributed to the acquisitions of Skynet and NextLevel Internet during FY2022 and subsequent consolidation of the employees from each of the businesses. Operating loss for the nine months ended April 30, 2023, was $3.040 million, a decrease of $0.485 million or 14%, compared to $3.525 million for the nine months ended April 30, 2022. Adjusted EBITDA income for the nine months ended April 30, 2023, was $2.249 million, an increase of $0.455 million or 25%, compared to an Adjusted EBITDA income of $1.794 million for the nine months ended April 30, 2022. In accordance with SEC Regulation G, the non-GAAP measurement of Adjusted EBITDA has been reconciled to the nearest GAAP measurement, which can be viewed under the heading "Reconciliation of Net Loss to Adjusted EBITDA" in the financial table included in this press release. Of note were the following non-cash expenses associated with the nine months ended April 30, 2023. Company recognition of stock-based compensation and warrant expense of $0.069 million and depreciation and amortization expense of $2.912 million. Loss on derivative instruments was $2.893 million for the nine months ended April 30, 2023. Non-GAAP operating EBITDA (OPCO EBITDA) income for the nine months ended April 30, 2023, was $3.292 million, excluding corporate expenses, and all non-cash items and one-time transactional expenses, an increase of $0.841 million or 34%, compared to a non-GAAP operating EBITDA (OPCO EBITDA) income of $2.451 million for the nine months ended April 30, 2022. Net loss for the nine months ended April 30, 2023, was $7.012 million, an increase of $2.286 million or 48%, compared to a net loss of $4.726 million, for the nine months ended April 30, 2022. The resulting EPS loss for the nine months ended April 30, 2023, was ($0.05), as compared to EPS loss of ($0.03) for the nine months ended April 30, 2022. On April 30, 2023, Digerati had $0.997 million in cash. Three Months ended April 30, 2023 Compared to Three Months ended April 30, 2022 Revenue for the three months ended April 30, 2023, was $7.837 million, a decrease of $0.326 million or 4% compared to $8.163 million for the three months ended April 30, 2022. Our total number of customers increased from 3,963 for the three months ended April 30, 2022, to 4,446 customers for the three months ended April 30, 2023. Gross profit for the three months ended April 30, 2023, was $4.958 million, resulting in a gross margin of 63.3%, compared to $5.002 million and 61.3% for the three months ended April 30, 2022. Selling, General and Administrative expenses (excluding legal and professional fees) for the three months ended April 30, 2023, increased by $0.031 million, or 1%, to $4.299 million compared to $4.268 million for the three months ended April 30, 2022. Operating loss for the three months ended April 30, 2023, was $1.075 million, a decrease of $0.551 million or 34%, compared to $1.626 million for the three months ended April 30, 2022. Adjusted EBITDA income for the three months ended April 30, 2023, was $0.621 million, a decrease of $0.183 million or 23%, compared to an Adjusted EBITDA income of $0.804 million for the three months ended April 30, 2022. In accordance with SEC Regulation G, the non-GAAP measurement of Adjusted EBITDA has been reconciled to the nearest GAAP measurement, which can be viewed under the heading "Reconciliation of Net Loss to Adjusted EBITDA" in the financial table included in this press release. Of note were the following non-cash expenses associated with the three months ended April 30, 2023. Company recognition of stock-based compensation and warrant expense of $0.023 million and depreciation and amortization expense of $0.993 million. Loss on derivative instruments was $2.120 million for the three months ended April 30, 2023. Non-GAAP operating EBITDA (OPCO EBITDA) income for the three months ended April 30, 2023, was $0.999 million, excluding corporate expenses, and all non-cash items and one-time transactional expenses, a decrease of $0.060 million or 6%, compared to a non-GAAP operating EBITDA (OPCO EBITDA) income of $1.059 million for the three months ended April 30, 2022. Net loss for the three months ended April 30, 2023, was $2.244 million, compared to a net income of $3.902 million, for the three months ended April 30, 2022. The resulting EPS loss for the three months ended April 30, 2023, was ($0.01), as compared to a EPS income of $0.03 for the three months ended April 30, 2022. Use of Non-GAAP Financial Measurements (MORE TO FOLLOW) Dow Jones Newswires June 16, 2023 09:02 ET (13:02 GMT) Story ID: 20230616DN003799 Keywords: OFF-TRADING FLOOR INVESTMENT NEWS, DOW JONES CONTENT SET DN, DOW JONES PORTFOLIO NEWS, PRESS RELEASES AUTO-PUBLISHED ON TICKER, WEALTH MANAGEMENT NEWS, FIXED LINE TELECOMMUNICATIONS, GLOBAL EQUITIES SPOTLIGHT, DOW JONES EQUITY INVESTOR NORTH AMERICA, SIGNIFICANT STORY, GRAND CENTRAL ASSET CLASS EQUITIES, DOW JONES GLOBAL PREMIUM INVESTMENT NEWS, DOW JONES NEWS SERVICE, DOW JONES ADVISOR MARKETS, FINANCIAL NEWS VENDOR WIRE, DOW JONES GLOBAL EQUITIES NEWS, MORE NEWS TO FOLLOW, DOW JONES ADVISOR PRACTICE, DOW JONES EQUITY TRADING NORTH AMERICA, CORPORATE ACTIONS, COMPANY NEWS, TELECOMMUNICATIONS, OFF-TRADING FLOOR PORTFOLIO NEWS, DOW JONES GLOBAL MARKETS NEWS, THIRD-PARTY CONTENT, DOW JONES GLOBAL INVESTMENT NEWS, PRESS RELEASES ON NEWSWIRES, TELEPHONE SYSTEMS-ALL, DOW JONES NEWS WIRES, DOW JONES INTERNATIONAL NEWS SERVICE, EARNINGS Symbols: DTGI
I agree but I don't mind. As long as there is a hiccup/delay I will continue to take advantage of it & add. I have made $$$ in Penny stocks either by taking advantage of a note that's due and is dumping/selling and driving the pps down and delays/hiccup on news.
DTGI is a guarantee. IMO
Can't say that for every penny play out there :)
The fact that there appears to be unlimited shares for sale between .07-.10 is absolutely insane with this float. Criminal and insane.
Thanks again for more cheapies this morning.
$DTGI
It’s their fault that their stock is trading at .07 cents and it’s taken them 2+ years longer to get uplisted than they initially promised. Zero value delivered to shareholders in years.
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