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That was an S-1/A, now withdrawn, where PMR was doing an IPO to list themselves on the OTC while selling stock. The offering was 500M shares at a penny, and the holdings of the officers/directors with those additional shares matches up.
$NUVG
— Pro Music Rights (@ProMusicRights) July 24, 2022
Straying from the subject. I asked why this company wanted to "go public" and raise money with an alleged accounts receivable of over $400M, especially "going public" by handing over equity to people who never gave them a plug nickel. The current owners of PRM (mostly the CEO) own all of it, the owners of this stinky pink own none of it. Why on earth would anybody do that? If that $400M was true, verifiable, and collectable, it would be a cakewalk to get a loan against it.
Really? So, the "audited" Accounts Receivable number of $323,000,000 should be ignored in valuing $NUVG. I don't think so for the reasons I stated in this post.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169481462
And that "intends to refile" was 9-10 months ago...
You left out the part where it says Jake Noch "intends to refile". Why? did that not suite your purpose.
Do your DD. The $5.5M came from accredited investors, not from an "institution or venture capitalist. It was a Rule 506(b) private placement. The shares are restricted for at least 6 months and up to a year.
— Pro Music Rights (@ProMusicRights) July 24, 2022
Here you go
Go to SEC.gov
https://www.sec.gov/edgar/searchedgar/companysearch.html
Search - "Pro Music Rights"
https://www.sec.gov/edgar/browse/?CIK=1831925
Click on the S-1/A - dated 4/13/22
https://www.sec.gov/Archives/edgar/data/0001831925/000121390022019488/ea158372-s1a3_promusic.htm
Go to the bottom of P. 7 of previous link
Note: The S-1 was withdrawn on 5/25/22
https://www.sec.gov/Archives/edgar/data/0001831925/000121390022029530/ea160630-rw_promusic.htm
Looking great here!!
Your use of the word "claiming" is misleading.
Can you please provide the LINK to the document you reference that shows “MUSIC“ as the requested “New Ticker Symbol”?
That is really cool!!!
What exactly is this document? I look forward to seeing the LINK that will lead me to the entire document!!
Thanks so much!!
A Reverse Split with this beautiful existing share structure? If anything, a forward split of 3:1 may be in order once all the paperwork is finished and the name/ticker change.
Oh okay, so converting from an Florida LLC to a Delaware Corporation gets rid of those complaints and investors have nothing to worry about? And April, 2022 is hardly 2 years old.
No. But I saw that they tweeted that there were no plans to uplist anytime soon.
$NUVG
Nice! and thank you. Did you see their proposed NASDAQ symbol on page 7.
RESERVED SYMBOL ON NASDAQ: “MUSIC”
UPDATED: Pro Music Right reverse merger into $NUVG $NUVG Low Revenue Currently as we had some cash flow issues During Covid-19, However, we have already started on collections with a great success rate & have 1.2B+ USD owed to the company over the next five years, we are in the process of trying to get - pt1 https://t.co/HoHS3nnaoH Here’s an excerpt from Pro Music Rights now withdrawn S-1/A before they bought the control block in $NUVG $NUVG Currently there are no plans for a Reverse Split - we were initially reviewing if a forward slipt might be needed due to historically low volume but The past 24 hours have changed my thoughts on that drastically.
Here are the basics.
Their twitter page is very active. I suggest you go through it to get a feel for their style. @ProMusicRights
This is their OTCM page, but it’s being updated. Most of the info on it is from the previous company. That has already started changing though. You can already find Jake Noch as CEO.
NUVG - Nuvus Gro Corp | Company Profile | OTC Markets
Their share structure is amazing. Only 67 million outstanding shares, and most of that is restricted
Announcement of the reverse merger https://finance.yahoo.com/news/pro-music-rights-inc-one-123000803.html
Announces Jake Noch as new CEO of NUVG
https://www.prnewswire.com/news-releases/pro-music-rights-inc-announces-jake-p-noch-as-new-ceo-of-nuvus-gro-corp-otc-pink-nuvg-301590705.html
Qualifications of Jake Noch
https://files.brokercheck.finra.org/individual/individual_7323097.pdf
This is an important tweet about their value and share structure going forward
This from BEFORE Pro Music rights bought the controlling block in $NUVG.
As you can see, assets were rising year over year, and this fits with the most recent valuation in May 2022 of 414 million dollars
It can be found here
https://www.sec.gov/Archives/edgar/data/0001831925/000121390022019488/ea158372-s1a3_promusic.htm
Thank you @CorbellSherri
This can be found here: https://t.co/rO2NzWY4SV pic.twitter.com/MCkpzT0P9N
Here’s a reply to a person on twitter stating that he is not diluting
Also, there are no plans for a reverse split
They are moving quick. They stated they’d get this form filed and they did https://www.otcmarkets.com/filing/html?id=15961418&guid=WKU-knejEd9kdth
You’ve seen the numbers.
414 million dollars in assets.
1.2 billion dollars in collections in the next five years.
All squeezing into 67 million outstanding shares with no plans for dilution or changing the SS.
This reverse merger isn’t an “IF”. It’s a done deal and the paperwork is being filed.
I will not even get into the multiples on the stock price. I’ll let others discuss that. But this is worth TEN’s of dollars per share.
Alright. Just for you, I will.
I’m also going to add this gem I just discovered
This from BEFORE Pro Music rights bought the controlling block in $NUVG.
As you can see, assets were rising year over year, and this fits with the most recent valuation in May 2022 of 414 million dollars
It can be found here
https://www.sec.gov/Archives/edgar/data/0001831925/000121390022019488/ea158372-s1a3_promusic.htm
Thank you @CorbellSherri
Here’s an excerpt from Pro Music Rights now withdrawn S-1/A before they bought the control block in $NUVG
— Sherri Corbell (@CorbellSherri) July 23, 2022
This can be found here: https://t.co/rO2NzWY4SV pic.twitter.com/MCkpzT0P9N
Yes. I thought about putting it in, but with the share structure so small to begin with, I didn’t think it would have been on the table anyway.
$NUVG
There are currently no plans for a RS as per Pro Music Rights/$NUVG
https://twitter.com/ProMusicRights/status/1550179832985681920/photo/1
Thank you.
$NUVG
Fantastic post! Glad you became a mod and stickied it! Looking forward to the weeks ahead. $NUVG$
$NUVG and the Pro Music Rights reverse merger. Here is the basic DD. $NUVG Low Revenue Currently as we had some cash flow issues During Covid-19, However, we have already started on collections with a great success rate & have 1.2B+ USD owed to the company over the next five years, we are in the process of trying to get - pt1 https://t.co/HoHS3nnaoH
Their twitter page is very active. I suggest you go through it to get a feel for their style. @ProMusicRights
This is their OTCM page, but it’s being updated. Most of the info on it is from the previous company. That has already started changing though. You can already find Jake Noch as CEO.
NUVG - Nuvus Gro Corp | Company Profile | OTC Markets
Their share structure is amazing. Only 67 million outstanding shares, and most of that is restricted
Announcement of the reverse merger https://finance.yahoo.com/news/pro-music-rights-inc-one-123000803.html
Announces Jake Noch as new CEO of NUVG
https://www.prnewswire.com/news-releases/pro-music-rights-inc-announces-jake-p-noch-as-new-ceo-of-nuvus-gro-corp-otc-pink-nuvg-301590705.html
Qualifications of Jake Noch
https://files.brokercheck.finra.org/individual/individual_7323097.pdf
This is an important tweet about their value and share structure going forward
Here’s a reply to a person on twitter stating that he is not diluting
They are moving quick. They stated they’d get this form filed and they did https://www.otcmarkets.com/filing/html?id=15961418&guid=WKU-knejEd9kdth
You’ve seen the numbers.
414 million dollars in assets.
1.2 billion dollars in collections in the next five years.
All squeezing into 67 million outstanding shares with no plans for dilution.
This reverse merger isn’t an “IF”. It’s a done deal and the paperwork is being filed.
I will not even get into the multiples on the stock price. I’ll let others discuss that. But this is worth TEN’s of dollars per share.
Yeah. This is ridiculously ginormous. I honestly just understand why this isn’t already in dollars. I guess in due time. There is going to be a crazy correction when the big boys get here.
$NUVG
It’s just some traders that picked up shares earlier today at .25-.26, cashing out for pennies while we hold for multi-dollar, maybe even double-digit dollars!!!
A Change of Control Form 1-U was filed this afternoon
$NUVG it's been sent out https://t.co/SOKS419LTF
— Pro Music Rights (@ProMusicRights) July 22, 2022
Except this company claims a value in the 100’s of millions, so giving away any equity to shareholders of a dead company will never be cheaper. Plus, this company had already prepared its S-1 and a couple revisions, sunk costs.
And it still doesn’t answer the avoided question of why this company wants to go public in the first place. If the value was true and verifiable, it would be a cakewalk to get favorable terms on financing of a mere $5M from an institution or venture capitalist.
When you RM a company saves on IPO fees to Wall Street firms and keeps much more equity than if they had IPO’d. That’s a fact.
Have you ever heard of the CK*X / SPE*A reverse merger? You should look it up. That was later referred to as the Elvis Presley company, and subsequently bought American Idol. SPE*A stockholders made a fortune.
ONE O’CLOCK that is huge!!
$NUVG had recurring monthly REVS of $83 mil In 2021. That’s a billion $$ in trailing annualized REVS.
Apply a 2x - 3x REV multiple and Pro Music Rights/$NUVG is looking at a $2B - $3B market, or $30 - $45 stock price.
(No wonder ZARDIW algorithm showed a factor of 8,735.)
Stocks normally trade at twice book. So $6.20 X 2 = $12.40. Add in the revenue, projected revenue growth and account receivables, and you could see a Tessoro TS+NP type EPIC run!!! 20, 40, 60 fold run possible here…
So what? Not interested in rare exceptions, especially when this company initially filed an S-1 to go public, sell stock 500M shares at $0.01 for $5M), then filed a Reg D form to do the same. Companies go public to sell stock.
You could list hundreds of companies that went public that didn’t have to. Primary reason they do is for expanding or adding additional business ventures. Or as you stated, to raise capital.
Especially with the continuous communication on twitter. $NUVG
Guaranteed this goes to multiple dollars. The big boys will come in soon.
$Nuvg
Couldn't care less. If this company had a real accounts receivable of $323M against no liabilities, there'd be zero reason for this company to go public. Companies go public to get access to the capital markets, sell stock, and raise money. Why on earth would a competent business person plunk his company into a dead stinky pink OTC company and hand over part of its ownership to that OTC company's shareholders? He owns all of the private company, why give any of it away?
He says he needs to raise money. Did an S-1/A and then a Reg D offering. Seems the odds of collecting up that $323M is rather low.
One of the principles of GAAP Accounting is "conservativism". Had the company booked an 'Allowance for Doubtful Accounts' against those receivables, then I might agree with you. As it stands now, all of the receivables are collectible according to their CPA audit firm.
... and "YES", I am a retired CPA.
JMO
I think every educated investor here knows what exactly is suspect & cringy.
Yeah, right. They say in their S-1/A they might just not be able to collect on those "accounts receivable" claims.
When the float is tight like it is, this is how MM's shake loose retail shares. Get used to it as we climb to book value of $6.20.
JMO
Could be news before market open on Monday. Dangerous strategy.
It’s a $20.0 million dollar market cap reverse merging with a company with over $400,000,000.00 in assets. Be real. Stock will go into dollars.
Jeesh.
lol ok just some friday sellers is all
might not even survive the .20's
Can we close in the .40s $NUVG$
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