Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I agree, I'll take the trade off of more conversions allowed at a higher pps with less overall dilution.
If a buyout did occur what would that mean for common share holders???
Funny, I thought under $10 / share is cheap, maybe even $20!
I like Thorn's comment about the acquisition possibility!
Makes sense why they would convert all their shares at once instead of doing it slowly over time!
Dont waste you typing figures everyone here is accumulating or holding. The noise is just that noise. This is mega runner any shares below 3bucks are cheap
Unless some good news pushed the share price higher and then it would take even less shares to wipe out the debt. We're all gambling here....not investing.
Would only work for a couple of days
News might drive sufficient volume to make a significant dent in the debt for a couple of days, but then the debt holders would have to increasingly sell into the bid, which would drive the price down and increase the number of shares needed to be sold for each dollar of debt reduction.
If 2M shares equal 1.4M debt reduction, then about 8.5M shares will wipe out convertible debt if my figures are correct. Not bad.
Setting up for buyout or big(ger) dilution conversions
Last night, LIBED's former CEO wrote a cryptic post that, IMO, implied that the reason for the Series X conversion was that NGEN/LIBED was going to be acquired.
While that is a possibility, considering his history as LIBE's CEO, it should be viewed skeptically.
One other possible reason for the Series X conversion and this subsequent pump is that the convertible debt holders can now convert many more shares per day than they could before the conversion.
When there were only 1.86M outstanding shares, they could only convert 93K shares/day without hiting Reg 144 limitations. With 35.7M outstanding shares, that limit rises to approximately 1.78M shares per day.
With some kind of news and the higher price, they might be able to dump 1M-2M shares over a period of a couple of days at a conversion price of say, $0.70, which would reduce the convertible debt by $700K - $1.4M.
Until the CEO comes out with an 8k detailing the companies agenda with share structure,business going forward and maybe some revenue this will continue to get manipulated up and down.
Did you read the 8-K yesterday? 3 insiders own 95% of the O/S - they are playing investors like a finely tuned piano.
"On January 14, 2020, Broken Circuit Technologies, Inc. (“Broken Circuit”) and Peter Zimeri, who together own 100% of the registrant’s (the “Company”) one million issued and outstanding shares of Series X preferred stock, delivered to the Company notices of conversion (together, the “Notices”) of all of their shares of Series X preferred stock. Broken Circuit, a company of which Edward Carter and Clifford Rhee are 49.5% and 49.4% owners, respectively, was the owner of 997,500 shares of Series X preferred stock, convertible into 33,770,389 shares of the Company’s common stock. Mr. Carter is the Company’s Chief Executive Officer and a member of the Company’s Board of Directors. Mr. Zimeri was the owner of 2,500 shares of Series X preferred stock, convertible into 84,638 shares of the Company’s common stock. On January 15, 2020, the Company issued an aggregate of 33,855,027 shares of the Company’s common stock (33,770,389 shares were issued to Broken Circuit and 84,638 shares were issued to Mr. Zimeri), which amount represents approximately 95% of the Company’s issued and outstanding shares."
Excellent time to buy. LMAO!
IG
Need to get a good news 8k after close today or tomorrow to sustain this small run through the weekend.
After the 8-K yesterday about the conversion of the Series X stock - who would be foolish enough to buy - the insiders are manipulating the price.
IG
I'll take the chance since you said it.
Look at the volume and L2 - the insiders are doing wash trades to manipulate the price to try and create volume so the toxic lenders can dump more shares.
Anyone falling for this pumping will lose their investment.
IG
What's that BS on L2 with CDEL at 1.89000000001
All those shares bought at under $1 are looking pretty good now!
Fell like a house of cards
Blew through that wall pretty fast.
This is why I said don't sell, wait for the huge news release, hopefully by end of month! Massive gains ahead.
There we go and still no news!! I hope they don't drop a massive 8k on us!!! Lol Everyone should've held through the split!! I'm gonna ride this out a bit instead if taking a PROFIT now......
WOW…..good bid support and thin on the ask. ANYTHING could happen here. GLTA
BID keeps moving up. Looks like post RS run up continuing. I'm ready to unload this finally.
Looking great today!!! We close above $1 today $4 incoming with news
Not quite sure what is expected here now at LIBE. One thing is for certain though is that any ticker that has serial OTC scam artist Clifford Rhee involved in it is doomed from the get go.
And ....some 50 m number that was bandied about, a no show on any 3D at the CES show, and the Dec 31st drop dead date just to name a few.
I am watching and simply want to hear from the CEO via 8k what his plan is on debt reduction . As example do a buy back and offer a special dividend like NLOK .
Thanks magnum, kinda disappointed you're no longer a fellow shareholder here, although I understand your reasons for exiting. GLTU
Agreed, Worse case scenario if they're quiet about news and agenda for very long and there's a pullback. If that happens I will take the opportunity to accumalate more shares but I'm betting on news soon. We shall see. GLTA
I hate to see dilution so quickly although we all know it's coming. This dilution just may be helpful with the current tiny OS especially taking in considerstion that those shares have been issued to management. Having converted their X Shares to common shares they now have a dog in the same fight as the rest of us common share holders. Management might've killed the previous run on purpose "or they just didn't care one way or another" because of their need to get the share restructure process started. Coupled with their silence the last month or two putting their plan in place for the sequence of events that will happen after the split. It seems FINRA delayed the process for about a month. If keeping the price low and silence was apart of their agenda before I imagine that agenda has changed now.Look for substantial news soon imo. Everyone knows what will happen once that news hits now that management has a dog in the investment fight so to speak. Tic Toc Tic Toc
Ugly 15min chart is flagging and finally above all MA 9 20 50 and 200dma. We break above $1 today or tomorrow guarantee it!!!
If The big conversion News yesterday didn’t shake this tree, may not see those tasty twos you were waiting for. Another mystery , can’t wait to hear some “ ceo splainin”
I have no idea and hope the stock never retreats.
Where is the infamous post RS sell off y’all are waiting for?
This all equals up to........a big Congratulations to all that held. This is going to explode now that Rhee and Carter have their ( rightfully due ) common shares issued. The notes may already be paid and all we need is for the news to drop. I have a feeling it’s coming now !!
So is this a good stock to invest in ?
Better to convert now while people are still digesting the recent R/S, than to convert later during a run and killing it.
Now that they converted their preferred stock to common stock, wouldn't they want the PPS to go up?
OM look most if not all pennies would dilute because they dont have the revenue to resolve the notes. Know if NGEN revenue is real they will restructure the notes or have there new lender resolve them.
IMO they will sell off some of the company and bring in some real institutional investors immediately to support hyper growth. So you can play your game of hope the price drops to accumulate or I can play my game of hold wait & see.
Totally relaxed. Once the note holders do their dilution, I may buy back in if the CEO provides some promising guidance.
Is it possible that those X shares were converted to common shares to set up for some sort of share buy back?
Remember Tomorrow
I suggest everyone relax and allow the CEO to explain the companies future .
Nica...I love your optimism. Those were the "founders" of the company. Their shares may be restricted but next up are the convertible note holders. THOSE shares are NOT restricted.
Lol. Any person with a 68 IQ can sell shares while twiddling his thumbs all day. BTW...one cant really say an essentially insolvent co was kept afloat
I am well aware of how he was able to keep LIBE afloat for years without and revenue coming in......... well done Brian !!!
Winters sold shares for years to pay himself quite well for someone who generated almost no revenue. Talk about corporate welfare lol.
Winters had to hold thru the R/S too IMHO as his 2% were restricted for the standard 6 months IMHO
66 million (+ or -) = 39,600 at strike price .0006 =
33,000 shares post split at 1.20 = 39,600
today's close .81 cents times 33,000 = 26,730
Brian is in the same boat IMHO ------- loss of $12,870
Maybe Winters knows what happened to that 50 million deal lol
Followers
|
403
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
86313
|
Created
|
02/08/13
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |