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I think they're keeping their options open. Give the shell a little more marketability. Perhaps there's a liability angle here also and they want the incoming execs to own it. At any rate he's spent a lot of money to get the filings current; I think we'll see one.
This looks really good. They're keeping it tight, and I like the plain language they're using. Toomey seems to know what he's doing.
Cash-on-hand is up.
Payables are up which means they've acquired services for something last quarter.
Total Liabilities continue to fall.
Signs are pointing toward activity.
Toomey has the bread winners share of outstanding common, roughly 70%, and he's still pumping money into the shell as of Dec 2015. I also like the way he's managing the share structure and expectations for future liquidity. It's clear this is his game to win or lose.
They're even advertising as a blank check shell which means we get a super 8k after execution.
I think this guy will give us a good merger sometime later this year. Keep it tight gang.
If they could see their way to get an attorney letter we can move up
Quarterly should be out this week or next. They're likely still looking for a candidate company to merge with. The Q should give us some insight into how far along they are in the search process.
Very likely a partial fill and not an order intended to be only 10 shares.
That's up to retail shareholder promotion and touts, and a PR from the company
People are trying to make it look like the share price is going down as to try and load shares lower, but no one is actually selling. If people want shares they need to hit the ask.
Who buys 10 shares and why "10 SHARES SMH"[/u]
Still in this?
When the crowd and promoters comes this will be way over .02. It doesn't take much to lift this off because no retailer has shares in it. (Or at least a large amount - yet). And when someone does want to buy a large amount this could easily jump pennies at a time. Also why practically no one is selling into the bid, because only a small amount of retail shareholders hold shares here, and most of them are waiting for reverse merger news.
Careful folks! These low volume, large percentage moves are used to sucker people into chasing and can leave you holding a lot of junk shares.
If you buy, get out BEFORE the crowd and the promoters.
The quiet accumulation here is crazy
The train is in motion now,jump on and enjoy the ride it going to be sooooo good GLTA
GO KSSH
Just slap the ask and quit crying like a child. No one will sell into your bid.
WAY OVERBOUGHT! Buying now only benefits the sellers who were loading at .002.
Should be fun. The run hasn't even started yet. Its just tricky to load up without jumping the share price too much.
Nice to see you are still in Chris, you are right on the numbers it is just timing now, i will add some more to my holding and wait for that LOI to come this will jump up in pps rapidly
Float looks to be about 35M - 40M. This is based off the 10K information which hasn't changed since they reinitiated their reporting requirements. O/S has increased just slightly with the new year due to annual payouts in lieu of cash proceeds. Current O/S is roughly 125M. Just under 75% of that is held by Directors, the vast majority of which is held by Toomey.
It appears, based on available information that he will attempt to transact the R/M sometime this year and likely cash in for a return. He's putting up a substantial amount of his own money to fund the renewal of this ticker. People don't put up that kind of cash out of pocket without an anticipated ROI.
Not sure but it is obviously very low here.
Do you know the current float on KSSH?
Tip toe Tip toe. This price won't stay sub penny for long now that moves are being made behind the scenes. Once the penny board chumps find about this they'll tout their followers and push this low float way up. And that's a given once an LOI is press released.
Up sharply today - any news?
Toomey owns approx. 85M shares. Toomey has spent approx. $230K, and will likely increase that by at least another $100K bringing his total investment into this enterprise around $300K - $350K.
85M shares x .006 is about $500,000.
To double his investment he'll need to sell all 85M at or above .009.
I like the enthusiasm. 100% up on $1k dollar volume haha this has huge potential. A LOI (letter of Intent) would bring huge attention and even minimal MOMO will set this thing off.
I have a small position here currently. Getting in early on these reverse mergers before MOMO comes is key.
I have a small following here and elsewhere. Likely just one or two buyers trying to get in on a maybe. This one still needs to cook a few more months.
front loading here day?
They look ready to proceed this year. I would expect to see a Letter of Intent in the next 3-6 months. The February Q should paint a better picture of their timeline.
It's possible this was just a tax write-off, executed 31 Dec 2015 to offset something larger. It's a 95.5% loss on a $230K investment. He received 244K shares at a conversion price of $1; at current market price that's under $1K return, a loss of $229K. He's keeping the $20K note issued 7 Dec which is convertible 31 Jan 2016; also convertible at $1 for an additional 20K shares.
Current O/S as of the 31 Dec 2015 was 124,712,987 (to include the 4M shares issued as management compensation on 31 Dec 2015). His 244,946 shares brings the float to 124,957,933.
Current A/S: 200M
Current working capital deficit $72K
Accumulated Deficit $322k
Total liabilities (minus the $230K) $101K (additional $20K is still in rescission).
Last audit: 30 Sep 2015.
Assumptions: Now that the unresolved debt has been cleared up and removed from the balance sheet they should be able to proceed with a M&A this year.
KSSH estimates G&A for M&A 2016 at $100,000.
James K. Toomey owns 84,692,987, or 70.01% of O/S.
Ted Sparling owns 3,719,668, or 3.08% of O/S.
Jim LaManna owns 2,000,000, or 1.66% of O/S.
Total owned by Board: 90,412,655 shares or 74.74% of O/S.
Float: 34M.
Best Case: Assume the current board issues another 25M to cover M&A. At 20%, in order to effect a Tax Free transaction, that puts the new A/S at 750M. The additional 600M would be convertible 12 months after the execution of any M&A. This assumes they head down the path they discuss in their 10K.
No mention of VWAP conversions. No mention of toxic convertible firms (Asher, Ironridge).
Who is the note generator?
BEWARE! KNOWN TOXIC NOTE GENERATOR! If they pump it, GET OUT BEFORE THE PROMOTERS or get stuck holding THEIR SHARES.
Sweettttttttttttt Toomey converted at $1 a share when he could have converted at nothing. This has to mean big things are in store now that the unsubstantiated debt has rolled off the balance sheet.
Even a lil spark could set this on fire.
AMAZING! 10K came out 12/23/15 and not a peep was heard. POS post pump and dump flounder.
I just don't trust Sparling as it appears he has been driving this wreck for much too long and just what is a contractor doing with a stinky pinky.... sorry its not even a pinky is a friggin stop sign and no signs of active breathing.
Toomey is the ace in the hole or just another banking a-hole....... time will tell but I can tell you that right now it is the later.
As for digging thru the trash, not worth the effort.
If this were successful I envision it like the country boys on West Texas Investors - a bunch of "good ol boys" suckin down suds.
JMO
I can't find anything on potential merger candidates or "soon to be" LOIs with such companies. Tight box, the only way to get any information is if you lived in Florida and were able to dig through the man's trash.
At any rate, the shell (blank check as they call it) seems that as a last resort would partner up with FFS.
From 10k:
All the notes are to Toomey who continues to fund the ticker. He's only making 3.5% which is very low.
I sure wish they would buy an attorney letter already, but I guess they are gonna wait til they can find a merger candidate to payoff Toomey.
10Q OUT! MORE CONVERTIBLE NOTES ADDED LOL
Convertible notes payable to related party $210,000 vs $90,000 9 months ago
Living on borrowed time and money.
Looks overbought and someone painting the tape daily. Overdue for the next drop. Chart shows a pattern of lowering pump and dumps.
Nibble Nibble Nibble...then
KABOOOM! News or goes current (which is just a matter of time), then we over a penny on a few trades!
Big News = silver. Only 200 Million AS. Float lock on big news.
Hanging tight and nibbling.
Got lucky and pick up some gltu
KSSH - Nibbles are all that you can get! There are just no shares available. Any day now this could hit pennies on just a few thousand shares.
This Stock will define the word "Chase". Would love to grab a few more if we could just get some shares available to buy.
A steal once the word gets out. Only problem is getting shares. It's pretty much locked.
BIG DAY COMETH!
Mr. Toomey has a plan! He is carrying the company for some type of Reverse Merger is my guess!
During six months ended March 31, 2015, we received the following financings:
• on December 19, 2014, Mr. Toomey advanced $60,000 to the Company;
• on March 5, 2015, Mr. Toomey advanced $20,000 to the Company; and
• on March 16, 2015, Mr. Toomey advanced $40,000 to the Company.
These funds were used by the Company to pay for the Company’s ongoing business operations, consisting primarily of professional fees, and to pay the costs associated with certain of its the Preparatory Actions through the Reactivation Date.
Amazing....Common stock, par $0.0001, 200,000,000 shares authorized, 116,712,987 shares issued and outstanding at March 31, 2015 and September 30, 2014, respectively
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KINGFISH HOLDING CORPORATION - KSSH
Since discontinued operations in 2009, the Company is reorganizing and structuring a capital campaign to pursue renewable energy
initiatives. The Company's activities are subject to significant risks and uncertainties, including failing to secure additional funding to
reorganize and finding a suitable candidate to participate in its renewable energy initiatives.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7287811
http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=kssh
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