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They got some triple sec with the iced tea
Thomas out, Spin-off coming.
Saw this coming. Be interesting to see how they handle the spin-off. Maybe it goes public again, with a less ambitious growth plan.
Despite being the poster child for 'bad-dog' companies which pivot into the blockchain, this is getting into buy territory.
Some institutional owners may dump by mandate. If one of them decides to get out of all of it in one trade/day, that would be a buy signal.
$LTEA got hit with a delisting notice yesterday. Not much pub on it but it happened. The reason? "Discretionary authority." $LTEA complies with all the rules and regulations, minimum listing price, etc. but it must be evident to the powers that be at the NAZ that it's a paper company now. $LTEA has until Friday to appeal, which they said they will.
Yep..I even posted about being proudly short on this very board...was funn
Really. You shorted it? Excellent work. That's great to hear.
Thank you for the compliment. I'll have to pass this along to the others.
Oh ya...lol. Anyway..I came across this scam when it was still above $5, and remembered all the fine wisdom you and others on that board imparted to me. So I read the filings, looked at the numbers, volume, pps, and PRs..all screamed P&D. So I took a short position and made some coin. So I guess thanks for the education. As for LBCC, I'm out now. It was a $3 stock prior to the recent gamesmanship, and I see no reason for it to gouch lower than $3
LOL - I know which board that was too. Good times. Good times.
Lol...I remember you from another board. Welcome to the LBCC (dis) information board...
They're going to spend $2.3 million on Bitcoin mining hardware which is expected to ship in March according to it's manufacturer..think it's almost time to get short again!
Maybe it’s earl grey Blockchain ?
MikeBK205 That's what I'm saying also ...TEA to Blockcain. I'm just going to watch for now.
Who trusts a company that goes from selling beverages into converting into a cryptocurrency ?
Sahmyl & Som Walk in the Door.
Look at these pedigrees, Voltaire, Morgan Stanley, Citibank, Lehman Bros., Deutsche Bank, UBS and Societe Generale...
What are these guys up to? Inquiring minds want to know! The press isn't making LTEA the 'me too' poster child anymore.
https://ih.advfn.com/p.php?pid=nmona&article=76389298
$LTEA went from $1.70 on Dec 11 to $6.91 on Dec 21 with a high that day of $9.49. Some shareholders missed the boat with improper DD and jealousy is setting in. LOL
Its all in the filings.
That’s a good point. It could.
Not sure. They are still holding onto the beverage division. There have been several successful conglomerates over the years. The beverage division might function as an additional financing stream for blockchain development
$LTEA, right, excited to see how they embrace this new holding company model.
Yeah, certainly more profit than iced tea. Not saying I don't like iced tea, but blockchain is the future.
I like that they are developing solutions for real world problems and insider ownership isn't a bad thing
Very interesting. I like the potential of these transactions.
This is what I found this morning:
The Company is already in the preliminary stages of evaluating specific opportunities involving blockchain technology. The discussions are only in the preliminary stages but indicate the areas of focus for the Company. These opportunities include potential partnerships, investments or acquisitions involving:
A blockchain software developer building blockchain infrastructure for the financial services industry
A London-based FCA regulated, institutional provider of FX services that is building multiple blockchain and digital crypto currency technology solutions for global financial markets
A new smart contract platform for building decentralized applications that provides scalability beyond currently available options
I am really interested in the applications for FX and financial services. BTC has long been touted as a great alternative to international wire transfers, but with the rapid rise in transaction fees, and considering the infrastructure for wires is already in place, that seems like a tall order. If they could provide a scalable solution for international trade, that would be a game changer
$LTEA post what you find. I started adding in $4s earlier in week but added more yesterday. Up 13% so far just from yesterday.
That's true. With the right PR, any stock can fly. Now we need to get work on news and filings.
Ah ok. I will look over those.
$LTEA - Isn't this forum about sharing information. Sending cryptic messages aren't useful, maybe you get something out of it.
If you don’t know then i feel bad for you
Care to elaborate why you don’t like it?
Don’t matter what they outlined this co. Is trash
$LTEA they outlined a series of targets in PR.
Difficult to say....there is some volatility here, and there is strong support around $3, but with the right PR it can fly. Trade it like you'd trade a penny stock and you should do fine.
Any idea what developments they are looking into? It seems the big play in blockchain is to make enterprise solutions. I'm sure we can all think of of numerous examples of where blockchain can help. I wonder if they are going to be industry agnostic?
I see what you're saying. But it should make for a nice trade?
Don't worry about me trader. I decided last night to change my target...short at $4.85, out at $3.80 today...missed the low so far by $.05..dang
$LTEA Philip Thomas, Chief Executive Officer of the Company, commented, “Our company recently announced we would be taking a series of steps relating to the pivot into blockchain technology, including the assembly of a world class team of industry professionals. Our new financing arrangement with a UK-based investment firm that shares our vision is the first step of many, and further validates our commitment to a swift, responsible pivot into blockchain technology.”
$LTEA Farmingdale, NY, Dec. 26, 2017 (GLOBE NEWSWIRE) -- Long Blockchain Corp. (LTEA) (the “Company”) today announced that it has entered into a two-million-dollar convertible debt facility, with an additional two-million-dollar option, to support the shift of the Company’s primary corporate focus towards the exploration of and investment in specific ventures relating to blockchain technology.
Dig a little deeper.
Any trades, long or short, are highly speculative at this stage. More speculative on the short side, I would add.
The Company is simply jockeying into position and there is no telling what they will come up with. And when you add to that the fact that traders are quick to pull the buy trigger, on any company in this space - look out above.
It's foolish is not reckless to try to catch a couple short points and risk 10-15 points in a powerful flurry of over-optimistic buying. Someone could be short, go out for a couple Martini lunch and see his phone light up with margin call requests from his broker before he's eaten his 4th olive.
It's just not worth it unless you're glued to the computer 24/7.
Dig into the filings, the past financings to see who's playing in this sandlot. Some very smart people.
That, reading the 8k, and the last Q told me all I needed to know. The "Bitcoin news" was just the catalyst to allow me a nice entry. Proudly short here, and planning on covering at $3.50
www.courtcavendish.com/
something doesn't smell right with this 'investment company'
Press Office
Tel: 0800 014 8509
pressoffice@courtcavendish.com
Court Cavendish Ltd
The Care House
Randalls Way
Leatherhead, Surrey
KT22 7TW
This company and their actions have all the makings of a share selling scheme at this point. Maybe the tea business is solid but they're not turning a profit there either. The share price history and current price action tell the story imo.
Oh wow, I had not read that! Must be nice to be a lender with those terms. That being said, do you think the company can be profitable under such onerous credit terms? While the technology they develop might be profitable 10 years from, aggressive credit terms are a quick route to bankruptcy.
It may not be too late, but the company just obtained a new credit facility where they can borrow up to $2 million. This can be increased to $4 million if the company desires. The rub is this...from the 8k:
On December 21, 2017, Long Blockchain Corp. (formerly Long Island Iced Tea Corp.) (the “Company”) announced that it was shifting its primary corporate focus towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology. In connection with this announcement, the Company entered into a Loan and Option Agreement (the “Facility”) with Court Cavendish Ltd. (the “Lender”), an investor focused on expanding its technology portfolio. Pursuant to the terms of the Facility, the Lender has agreed to make available to the Company a borrowing facility of an aggregate of $2,000,000, with the option to increase this amount to $4,000,000 (the “Extension Amount”) with the consent of the Lender. The Company made an initial drawdown on the date of the Facility in the amount of $750,000 and has the ability to request an additional drawdown of $750,000 on January 18, 2018 and a further additional drawdown of $500,000 on February 15, 2018. All amounts owed under the Facility will be secured by all of the assets of the Company subject to certain security interests previously granted by the Company to another third party.
The Company paid a $100,000 facility fee to the Lender upon execution of the Facility and will be required to pay the Lender an additional fee of 5% of any amounts borrowed under the Extension Amount. The Company also issued to the Lender three-year warrants to purchase 100,000 shares of Common Stock of the Company exercisable at $3.00 per share and agreed to issue to the Lender warrants to purchase an additional 50,000 shares on the same terms for each $1,000,000 drawn on the Extension Amount.
Interest on the outstanding amount under the Facility accrues monthly at the rate of 12.5% per annum and is payable quarterly in cash or common stock of the Company, at the Company’s option, at the lower of $3.00 per share or the closing price per share on the day prior to the date the interest payment is due. All principal and any accrued but unpaid interest will be due and payable on December 21, 2018 (“Maturity Date”) and is payable, at the Lender’s option, in cash or shares of common stock of the Company at the lower of (i) $3.00 per share and (ii) the closing price per share on the Maturity Date, but in no event at a price less than $2.00 per share. The Lender also has the option, exercisable at any time prior to the Maturity Date, to have any principal and interest then outstanding converted into shares of common stock of the Company at the lower of (i) $3.00 per share and (ii) the closing price per share on the date of the conversion, but in no event at a price less than $2.00 per share.
Notwithstanding the foregoing, in no event will the Company issue to the Lender (as payment of any principal or interest owed under the Facility or upon exercise of any warrants issued thereunder) a number of shares of common stock of the Company in excess of 19.99% of the outstanding common stock of the Company on the date of the Facility.
Pursuant to the Facility, the Lender has been given the right to appoint two members to the Company’s Board of Directors, which members are to be mutually agreed upon between the Company and the Lender.
Those are piss poor terms, and what it means is the lender will be able to sell 100k shares at $3.01 each and make money. then, next month, they'll get another 50k shares, and so on. the 19.99% figure above means that the company can issue to the lender warrants for roughly 2 million shares, and it'll be at prices down to $2 per share. Tbis is gonna go south in a hurry IMO
Do you think it's too late? It sounds like they are taking on some wealthy investors, so that should accelerate things?
That seems like a neat trick to pull off. So you are bullish on management?
Oh wow! Nice to see some money coming into this.
Deep Pockets Walks In the Door.
Eric Watson: Founder and Executive Chairman
We'll hopefully have BlockchainStockReview.com launched before year is out covering this and other fun companies like this.
For now, we'll post on BeverageStartUpNews.com
Eric Watson is the founder and executive chairman of international private investment company Cullen Investments. Resident in the UK, Mr Watson is a successful entrepreneurial investor.
Read more..
http://beveragestartupnews.com/deep-pockets-walk-into-long-island-iced-teas-ltea-doors/
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Market Value1 | $5,889,214 | a/o May 02, 2011 |
Shares Outstanding | 19,630,714 | a/o Mar 24, 2011 |
Almost entire O/S owned by insiders and institutions..
http://www.fatpitch.biz/cgi-bin/f.cgi/psp/extn/lmt_entry/cik.1471256.828.html
Eric J Watson CEO 34th richest man in New Zealand
http://www.stuff.co.nz/business/farming/2992064/Eric-Watson-to-milk-US-market
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