I like it! Makes total sense to me…
I think you're onto something there Red! I like the way you think.
That would be something. I think it will happen but not sure that’s what all that stands for.
Call me crazy, but my subconscious worked on the (assumed cryptogram from linked in) and this is my final answer:
That would give about 30 days from early last week until we see it on https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
Fact or Fiction??? You decide.
Must be why the scam is sub penny again.
Bid/ask action constantly.
I bought 20000 shares yesterday at .01 and immediately ask went to .0099 with over 100k on ask. Literally instantly.
It’s computers doing their thing.
End of day need real buying volume regardless
And you base that opinion on what exaclry?
Yup, they are all gobbled up at lower and lower prices. By Christmas this may be in trips.
200M OS may not be a lot and that is not a concern here - concern is that they are dumping pretty aggressively and 200M may turn into a billion very quickly.
200 mill shares outstanding is nothing in the otc. People freak out over it, but many in this price range have over a billion shares outstanding and sell nothing, time will tell if those who hold were smart or not. Imo
The only shares that can be sold into the market right now are the convertible notes which have also been registered with the TA. If the shares were converted back in September or early October, then, based on the share price and the note terms, there could be around 20 million shares. That would make sense since there are roughly 7-10 million restricted shares issued. Yes the note holders scored, but it does not mean the company is not on the right track. I believe we have seen the last of notes. JMHO
Whatever the cause, the problem is that there is a lot of shares being issued and they are flooding the market with no explanation from the company.
I just realized all this talk about Dryworld selling shares directly into the market makes no sense, since one of our complaints is that they are non reporting, that is the same thing that prevents them from issuing shares directly into the market. We knew there were a couple notes totaling $175k that are probably the culprits, and they closed the Brio deal which I believe was 5 million shares issued. Also keep in mind there were no less than a dozen recent ambassadors each getting a bunch of shares, and the exercise equipment deal was a few million shares. I think it was lofty to think that shares were not going to be issued along the way, heck isn’t that why a company would go public to raise capital while selling off bits of equity. I would rather have a small percentage of a successful company than a large percentage of an unsuccessful one. It takes money to make money.
I’m going to keep riding with Team-D until the promised land. People can do and say as they please. I can’t wait to make fun of myself and others when I look back and laugh at the time I was worried as I sip champagne and count my money.
Best to all, even you Huggy.
Gee, you think?
Probably the shareholders who also finance the scam selling, wink wink.
It's called toxic financiers converting.
The venue by which they make money off this scam.
Because it damn sure isn't the pathetic revenue from reselling DryWorld Industries apparel on their lame ass website.
The O/S was at 171.5M in late 2021. It's now 200.7M. So that's 29M shares added -- most of which was added in the last few months. No wonder why this is unable to gain any traction. This rapid increase in shares is saying they are still operating deep in the red.
There is no doubt they just paid a bunch of bills .. but as share structures go its very strong.
Never a fan of dilution, but this represents less than 1% of the OS. I think/hope they are just selling what they need to move forward, pay for the audit, file with FINRA etc.
You finally figured it out.
Yup. They are now diluting so why do anything else when you can just dump on shareholders and get money that way? They went public not to build shareholder value but to enrich themselves on shareholders dime and we see that in full effect now.
Do you really believe that? I haven’t sold a share but I no longer believe they will do anything they say they will do. It’s been 4 years since they said they will change the name!!! Wtf! And now they are dumping on our heads. SMH.
I wouldn't expect the ticket change until after the audit is completed. And that assumes they are even pursuing it. There's been no indication of that yet.
That can still happen with a ticker/cusip change...
I wouldn’t read anything into the cryptic messages Brian posts - remember he said he would fry all the shorts a while back? We all know how that worked out. Lol
Our Ticker Change Application…..?
…To You Wednesday…?
How bout the TC is Ticker Change?
My guess is between both your amounts.
The whole reason it wasn’t getting done was the cost. Now way it was that cheap. They finally got the Beroe revenue, which on the 19Q was still just Accounts Receivable (AR), invoiced but not collected. They most likely got payments from Beroe over the past couple of months that allowed them to pay for the audit. Guaranteed it was 6 figures.
$5-$10K Per year so no more than 20K. Won't take long.
Yeah, I bet you’re 100% correct on that.
They charge a fortune, because they know the company has to get it done.
I think it could be as much as $100k. Seems like manpower wise it is absurd, even at $250/hr, there is no way it would take 400 man hours to complete. I think the auditors know how much it means financially to a company so they gouge them.
My old boss used to price repairs on expensive electronics for our customers. He never went by how many hours it took multiplied by labor rate, he looked up how much replacement cost was and charged 25% of that. It was almost always much more than time and materials. But the customer needed it and figured they saved 75% from buying a new one and were happy.
It is like the auto mechanic that says he can fix the starter on a car that won’t start for $300. The owner thinks that is cheap and say okay. He proceeds to slide under the car and smack the starter motor. He slides back out, and says try to start the car. Vroom!! It starts. He asks for the money and the owner says how can he charge $300 for one stroke of a hammer. The mechanic says the hammer stroke was free, the $300 is for knowing where to hit it.
We need the audit, the auditor knows it, in fact all the auditing firms know it, so the gouge and price fix in the industry.
How much does an audit cost?
I’ve heard they can be at least $50,000 ???
For a smaller company or start up (with 6 digits revenue).
Obviously a company who brings in tens of millions in revenue, it would cost more.
Maybe there is a chance the audit will cause a short squeeze?
Huggy, you better cover, lol.
I mean I wouldn’t read too deep into the capital letters but will see
I thought that too, like fins out 12/31/23, on time without the 15 day extension? Meaning maybe they are decent revenues?
nYE might be New Year’s Eve. Haha. This is fun
The PR didn’t say when they engaged the audit firm - it just said it did - they could have been working with them for a while now. Same like it was with the Ospreys deal, they had it for like 6 months before they told everyone. Since they aren’t SEC registrant, they don’t have to release news to shareholders within 4 days - once they are audited, that will change but for now they aren’t required to.