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Hollycoop, I believe there are 16m shares. After the 1:10, there will be 1.6m shares. Right now at .50, it's the old .01. At $1.00, it's the old .02. With the upcoming 1:10 split, a $1/share becomes $10/share but you would have only 1/10 the shares.
If the stock does the 1:10 split at $1 and starts at $10,which is the old .02, say my old break even is.10, my new break even is $50. Divide the future price by 500 to make include the last split of 1:50 and the new split of 1:10.
If the split happened today at .50, it would be $5/share, which divided by 500 is the old .01/share.
We lost all value when the patents got cancelled. Now at .50, it's effectively back to .01. With the merger and the stock structure, we have a legitimate chance to recover from where we were, which was virtually zero, maybe 1/2 a cent, after the patents were cancelled. We also become profitable with the merger, growing revenues, etc... There are not many shares and the new owners will not be selling due to restrictions.
I see the value of our accounts growing over time despite the somewhat confusing splits. People will look at a $10 stock differently from sub pennies or pennies too. The outlook from losing it all has changed, IMHO. A lot of us need $50/share to get our money back, which, again, divided by 500 is the old .10. Right now it's effectively, with the upcoming split,$5.00.
I expect the split to occur in January. Thanks.
Rocky...so they currently have 11M shares out correct? They are now doing a 10 for 1 RS so there will only be slightly better than a million shares fully outstanding? Then what is their plan? I assume sell shares to raise capital? Give me your thoughts on some of the financial orchestry they are doing and why. What are your thoughts on all of the preferred shares.
Year's over but it's not over for Payd. Merger is now official today. When ever the SEC assigns the day of the upcoming split, probably in January, we will own 1/10 the shares and the PPS is simultaneously increased 10x.The difference is we had zero value once the patents were cancelled. Now we have a profitable and growing company that gives us a chance to recoup our lost $$, at least some of it. HPN everyone! Thanks.
Year's over but it's not over for Payd. Merger is now official today. When ever the SEC assigns the day of the upcoming split, probably in January, we will own 1/10 the shares and the PPS is simultaneously increased 10x.The difference is we had zero value once the patents were cancelled. Now we have a profitable and growing company that gives us a chance to recoup our lost $$, at least some of it. HPN everyone! Thanks.
8-K 1 payd8k_dec192016.htm FORM 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 19, 2016
PAID, Inc.
(Exact Name of Registrant as Specified in Charter)
Item 2.01 Completion of Acquisition or Disposition of Assets.
In September 2016, the Company announced that it entered into an Amalgamation Agreement (the “Amalgamation Agreement”) with
emergeIT Inc., an Ontario corporation, which does business as “ShipTime” (“emergeIT” or “ShipTime”) to acquire emergeIT and two new PAID
subsidiaries. emergeIT is a leading cloud based shipping platform bringing individuals small and medium sized businesses together with many of
the world’s leading carriers to save time and money. A copy of the Amalgamation Agreement is set forth as Exhibit 10.1. The Closing for the
Amalgamation Agreement occurred on December 19, 2016, and the amalgamation will be effective on December 30, 2016.
If you have 404K shares now, you should come out the other side with 40400 shares after the split. It works out the same as long as they are consistent on the rates (ie 500/50 or 3000/300). One of the purposes for the double splits is to reduce the number of existing shareholders. But your percentage of the company will be reduced to 20.5% from the 100% currently held by shareholders.
Juda, I think it's hard to say how many shares we will have after the merger. My focus is on my account value. Regardless of the number of shares I end up with because of all the splits, I think my account value will be higher with the merger. We lost all the value when the patents were canceled. I think the merger is a step in the right direction, a way to for us to recover at least some of our losses and maybe get it all back some day. Thanks.
Rocky, I wish companies would put information in plane english, All I want to know is how many shares will I have at the end of the, I figure after the reversal, I will have 2,400 share from the original 404K shares I had.
I dont care how much I have, just want to get my money back.
Sorry for getting carried away.
Thanks for the information.
Good hunting
Looks like the merger announced last January is moving forward given what was filed now being voted on by shareholders to get a simple majority to approve.
https://www.sec.gov/Archives/edgar/data/1017655/000141588916007363/paiddef14a_nov2016.htm
Thanks.
Hey Juda. That's my plan too. Just waiting for the merger to get approved like everyone else. Hoping in Nov or at least in 2016. Thanks.
RockyW, any new news regarding stock structure? Hope I can get most of my money back. Dont forget to vote today.
The company hasn't even made a DEF14 yet - so the company isn't ready to crush shareholders yet......... maybe a couple insiders need to finish getting out before they screw everyone else.
Erniebilco, when the SEC approves the merger, please contact the SEC on your behalf and tell them their approval was not necessary. Thanks.
NOPE, shareholders approve mergers not the SEC
I understand the SEC must approve mergers. Thanks.
Please explain exactly what the SEC has to approve.
Hi Juda. No, it does not look like a done deal yet. The SEC has to approve so I would say the deal is pending. I would guess it is nearing the finish line and that it will help our account value. I say account value because the upcoming announced splits that have a wide range of scenarios are too confusing to explain but the account value is easier to understand.
Rocky, is it a done deal yet? If so, when will the name change?
Hey Juda. I'm just focusing on the current value of my account. I think its value will increase after the merger is completed. It sounds like it gets completed sometime in October. Paid, without any merger, is pretty much worthless so the merger might help us recover some of what we have lost; without it, we have no chance of any future recovery. Hopefully, we get it all back someday and the merger gives us an opportunity for that to happen. Thanks.
RockyW, with this revision on stock reversal, how will this affect us.
I currently hold 17K shares.
Thanks
Juda, I think we have to wait until the merger is complete. As I said a couple months back, I think the current value of our accounts will move higher after the merger is complete. I think the filing stated the merger must be completed by October 15.Thanks.
Rocky, looks like people are dumping their stock. Do you know what and when will they change the co. name?
Do you have any Idea what you will do with new stock position after the split? I just want to get some or all my money back.
Juda, we all know it is been an utter disaster. I think the merger will help. Thanks.
Rocky, looks like we are kissing our money good buy? sorry for the demise of our investment. Good luck on our next venture.
Juda, I do not think we will get hosed. I think the combined company will mean the value of our account will increase. It can get very confusing projecting or guesstimating the splits that will probably get approved. I'm focusing on my account value and I think it will move higher after the merger. It seems like the merger is a plausible solution to the patents being effectively canceled. Thanks.
RockyW, will we be able to get some of our money back or will we get HOSED?
It certainly does LOSE money, its right there in today's 8K. Also in there is the fact that current PAYD shareholders, over and above the massive Reverse split, are going to lose 79.5% of the company.
So to recap: A RS that will have the effect of reducing current shareholders to 10% of their current position - they will only own 20.5% of the "merged" money loser.
Canadian companies that don't list on Canadian markets are less likely to be successful on the pinksheets.........unless the business model is to screw american investors.
Erniebilco, I know you were unaware of the merger announced last January, but are you sure this Canadien company loses money? The combined company will be an improvement over being just Paid by itself given Paid may have only 500k in revenues and no profits. The patents were cancelled, not upheld, so the merger will be an improvement, IMHO. Regardless of the number of shares we own today, if your account value today is $10k, let's see its value after the merger. Thanks.
Merging with a Canadian company with a history of losses - WHAT A GREAT IDEA - Wonder why they didn't become a Canadian ticker.
Oh well, see everyone at .0001
Judah, we all know the patents were canceled, even though they were issued, they were not upheld, ridiculous and we all lost. A way out of it is to merge with a A larger company, but has more revenues and profits, that is what they are doing. The reverse split in the 40 split our confusing. However, our account values will increase because of the merger; we will certainly be no worse off, in fact, I think we will be better off. I'm not getting hung up with the splits and the PPS but rather my account value, the value of my position. Thanks.
TO WHOM IT MAY CONCERN
PAID, Inc. Announces Letter of Intent with emergeIT Inc.
WESTBOROUGH, MA--(Marketwired - January 25, 2016) - PAID, Inc. (OTCQB: PAYD) today announced it has agreed to terms and executed a non-binding Letter of Intent with emergeIT Inc. a privately held Canadian based shipping technology company. Under the proposed combination joint leadership will be held by Allan Pratt, President and CEO of emergeIT Inc. and W. Austin Lewis IV the current CEO, CFO for PAID, Inc.
"This step in our discussions to combine the two companies will create great momentum for PAID, Inc. We have been in the shipping calculator industry for over 15 years and this is a good opportunity to possibly partner with a company that shares our technology vision and future goals." stated Austin Lewis, PAID's CEO. "We look forward to the growth opportunity for PAID and its shareholders."
emergeIT, branded ShipTime, is partnered with several Canadian and global carriers and offers a web-based platform tailored to small business users. Thousands of users can quote, process, track and manage all their small package and LTL shipments in one application while benefiting from great discounts from brand name carriers. ShipTime was founded with a Heroic Support™ team as its core focus.
"With Austin and the PAID team we are excited to discuss the combination of two great shipping technologies into one best of class product." stated Allan Pratt, emergeIT's CEO. "The growth potential into the United States channels is key to ShipTime and we are optimistic that a mutual agreement with PAID will help us reach this goal."
About PAID:
PAID Inc. offers AuctionInc online shipping calculation and shopping cart software employing its patented technology to streamline eCommerce. PAID is known for its quality and customer service and offers turnkey online tools and services that enable their customers to customize a solution that is right for them. More details are available at www.paid-corp.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the markets, the successful monetization of the patent, variations in the Company's cash flow, competition, celebrity programs, business development efforts, technology availability and cost of materials and other risk factors. Factors that could cause actual results to differ materially are discussed in the Company's most recent filings with the Securities and Exchange Commission.
RockyW, with this new proposal stock split, this will bring me down to 3K shares, is the new company trying to blot us out with no compensation?
What the heck is going on? I know my vote wont make any difference, but Im voting No, their going to win because they hold all the cards and our vote will make no difference, all I want to do is get my money back, not a killing, I guess Im screwed either way.
JMHO
Thanks, told me all I need to know.
Ernie, look at post 1883, this should explain everything.
What is this merger you are talking about? Haven't seen anything in filings about a merger. Can you post a link so I can update myself on what is happening besides the RS FS they are planning. The ratio is not shareholder friendly at all - anything between 500 and 3000 ?
This is designed to wipe out existing shareholders after teasing them with the 50 to 1 they did last October.
ErnieBilco, I see it that the current value of our accounts will be higher after the merger. Thanks.
I know and have read nothing about a bus company, furthermore, there hasn't been any new news since Sept 2015 posted on their website.
But yes your 35K will be somewhere between 3500 and 3600 depending on how badly they want to screw us. Remember they did a 50 to 1 RS less than a year ago. Add to that that they repriced their options to 25% of the pps so these crooks can make bank on the splits.
I'M STUCK AND HOLDING JUST SO I CAN TAKE THE 100% TAX LOSS ON THIS.
Ernie, so the company is proposing the split and my position will drop from 35K to 3,500 shares, the stock price would have to go to 6.50 for me to get my money back, I bought the stock at first for the patent play.
Does the new company have a working bus. model that's generating money?
Whats your thoughts?
Thanks
Yes your position will be diminished. At the same time they are increasing the AS and adding an additional 20 million of blank check shares. You will own 10% of what you now hold.... assuming you own more than 500 shares.
The Reverse is to knock out small shareholders before raising the positions of insiders and larger shareholders.
Juda, I just read it, looks confusing but they will get my vote. To me, it outlines the steps needed to address the number of outstanding shares, change the name to ShipTime Inc. and essentially set-up the proposed merger they announced last January. We all lost out on the patents and on the patent play so we need it recover as best it can. It's not over and that's no conciliation to how much we last here but we will not lose everything. If it gets to a few dollars/share, it will certainly be a welcomed improvement. No way are they giving up either so it's a start we need and we will not lose it all. Thanks.
Rocky, look at I-Hub, it came out September 2
Juda, I have not seen any proxy filing. Maybe you can post it? I think the focus is on the merger that must be nearing completion I would think. Thanks.
Rocky, am I losing my mind, I looked at their proxy statement and their asking for a reverse split and then a forward split, what the heck are they asking for? Will my position in the new company diminish to what? What are they trying to do?
Im reading it and its like double talk, help!
Can you help and explain?
Thanks Rocky
Hi Juda. I think everyone is understandably waiting for and expecting the merger to get completed. I thought it would be completed over the summer or by Labor Day but not the case. I'm sure both companies needed to happen so I would not be surprised if it happens sometime in the fall. Thanks.
Rocky, why lack of interest in PAYD? No conversation nothing.
Does hope spring eternal?
Have a great day
Rocky, I think ts too early to see what the new company will be called. To early to create a conversation board.
Sorry to bother you, have a great day
Rocky, look at old PAYD board, it shows chart, what it does pe ratio etc. the new board just shgws sign up for their product, maybe when the merger gets finalized, it will give a better picture.
Juda, I''ve never heard of that particular page or site.
https://shiptime.com
why do you keep asking rocky he doesnt have a good track record here
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Welcome to the PAYD message board.
About Paid, Inc.:
Paid, Inc., publicly traded under the ticker PAYD, is a one-stop brand management and marketing resource to music, entertainment and sports personalities and organizations, and offers AuctionInc™ online shipping calculation and shopping cart software employing its patented technology to streamline ecommerce. Known for quality and customer service, Paid offers turnkey online, mobile, social media and traditional marketing campaigns, as well as award-winning video & film production, VIP ticketing, web site design, merchandising, ecommerce and fan community management programs.
http://ih.advfn.com/p.php?pid=nmona&article=60478301&symbol=PAYD
PAID, Inc. Files Complaint Against eBay in US District Court in Massachusetts for Patent Infringement
WESTBOROUGH, MA--(Marketwired - Dec 23, 2013) - PAID, Inc. (OTCBB: PAYD) filed a patent infringement lawsuit against eBay Inc. in the United States District Court for the District of Massachusetts on December 20, 2013. PAID is represented in its lawsuit by Hunton & Williams LLP, an international law firm with intellectual property attorneys in multiple offices around the world.
PAID, Inc. owns patent numbers 8,521,642, 8,352,357, 7,930,237, 7,324,968 titled "Method and System for Improved Online Auction" and has additional continuation claims in process before the U.S Patent & Trademark Office (USPTO). These patents relate to the real-time calculation of shipping, insurance, and taxes online.
"PAID has been a key player in developing technologies and methods relating to tools used to facilitate commerce online," stated Austin Lewis, PAID's CEO. "We will continue to grow our customer base and add functionality to expand on our portfolio and solidify our position as an innovator in this space."
PAID originally filed its patent application in March, 2002, to solve a pervasive problem in the online marketplace. PAID was awarded its first patent, No. 7,324,968, on January 29, 2008. This patent relates to the real-time calculation of shipping costs for items purchased online, including using a zip code as a destination location indicator. Our second patent, No. 7,930,237, was issued on April 19, 2011 and, among other things, facilitates advanced, rapid, accurate estimation of shipping costs across multiple shipping carriers. Our third patent, No. 8,352,357 issued on January 8, 2013, covers systems and methods for calculating shipping and taxes associated with items offered for sale on online. The fourth patent, No. 8,521,642 issued on August 27, 2013 focuses on systems and methods for calculating shipping and taxes associated with items offered for sale on websites with multiple sellers. For full patent details, visit www.USPTO.gov.
"We intend to protect PAID's intellectual property and enforce its property rights amongst all infringers," added Lewis.
About PAID, Inc.:
PAID, Inc. is a one-stop brand management and marketing resource to music, entertainment and sports personalities and organizations, and offers AuctionInc™ online shipping calculation and shopping cart software employing its patented technology to streamline ecommerce. Known for quality and customer service, PAID offers turnkey online, mobile, social media and traditional marketing campaigns, as VIP ticketing, web site design, merchandising, ecommerce and fan community management programs. More details are available at www.paid.com.
About Hunton & Williams L.L.P.
Founded in 1901, Hunton & Williams is committed to providing quality legal service to its clients, whether an individual, global corporation, government or other entity. The firm has more than 800 lawyers practicing from 19 offices across the United States, Europe and Asia, helping clients realize new opportunities and solve complex problems with confidence. The firm's practice groups provide full services to clients across a wide variety of practice areas, including intellectual property and commercial litigation.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995:
Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the markets, the success of any litigation, the successful monetization of the patent, variations in the company's cash flow, competition, celebrity programs, business development efforts, technology availability and cost of materials and other risk factors. Factors that could cause actual results to differ materially are discussed in the Company's most recent filings with the Securities and Exchange Commission.
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