Pennexx Foods Inc (PNNX)

[ralphrotten]

Aloha, Mahalo for the updates. I guess I will check back in next year to see if there is anything going on with this ticker. 

[Martucciisalwaysscum]

Thank you for your thoughts. Will read over this week.

[Craig305]

The annual report has been released.
No revenue as expected.
"Management's strategic plans" has not changed from the previous year's annual reports. Only generic statements.

Some tidbits to note:
The O/S has not increased in the past full year. That is good.
They checked off that there has been no change of control, but in a sense, yes there has been.
Janis Ralston the large investor in this so called company, converted her $1.3 million investment debt into 1 million preferred A shares. These preferred A have a voting power of 500 votes to each share. Therefore, she has 500 million votes. I would say that is being in control....LOL.

What happens next is anyone's guess.

[Martucciisalwaysscum]

Well over a year since last news. I was hopeful. Especially with Joe Candito involved but he bailed awhile ago too

[Craig305]

Thanks for the update.  I would have suspected Vince was booted out by now. The project appears dead. Emails not working, links to websites that are no longer active, partnership  to the Orlando company ended, $0 revenues, etc.
They have 90 days to file under regular timeframe. April 15 is if they file for an extension. I don't see why they would need an extension if there is nothing to report in Q4. Maybe they need time to write a revival story in the 10K for 2025. 😀

[Martucciisalwaysscum]

I have reached out to Vince many times. Says news is coming but sadly for including him it never does

I think the report is due 4/15

[Craig305]

Annual report is due by the end of this month. Let's see if there will be any new clues as to the status of this shell.

[46er]

That would be something. Here's hoping.

[Craig305]

All this decline in stock price and it has nothing to do with dilution.
Only 2 million shares have been added to the float in the past 14 months. Was a conversion from restricted to unrestricted.

When a new business model is rolled into this shell, it can have a potentially good return for whoever buys in at these low levels.

It appears there is a minimum of a 2 months wait to see if anything new is stated in the annual financial statement about the status of PNNX.

[oldguy]

Speaking of limbs. My DGNOF is breaking out, or looks to be. I am still waiting for your opinion of my turkey. Your opinion which I value highly.

[46er]

Yes Let's hope

[Craig305]

I'm going to go out on a limb and make a speculation about the current status with PNNX. 

Looking at the financials, you can see the main investor, Janis Ralston, has voting control of this company. She must be pulling the strings and putting a gag order on any updates of the company. 

One thing I have learned with OTC stocks is they never talk about negative catalysts or failed projects. They always sweep that news under the rug. It is apparent that PNNX business model is broken and not moving forward with any of the past promises. We would have had an update of anything by now. January was the last business update by Vince.  Website has broken links. Emails no longer working. Itouch is a closed company. App never released. $0 revenues.

I am going to assume Janis is looking to move a new business under this shell. She has invested over a million $ into this shell and I would hope is not going to let that $ vanish on a dead business venture. 

So now we wait to see what new future business PNNX may evolve into.

[Craig305]

The annual report is due next and that is due in 4 1/2 months from now.  Suppose we can all go on radio silence until then. 


Good luck to the remaining few that might hold on through tax loss selling in December.
Might be brutal for this stock. 

[Craig305]

According to the 10Q, the way to communicate with the company is through the following means:

Investor Communication: 

Twitter: @pennexx

Discord: N/A

LinkedIn Pennexx Foods Inc. ($PNNX)

Facebook: Pennexx Foods Inc.

Vince has not posted on Twitter since January nor has answered anyone's comments or questions on there. 

[oldguy]

Look at the beauty of my trade, even if it fails. Tell me the last time you could sell a dead stock at 2 cents. Then roll the money in to an actively traded stock with huge potential. FOR THE SAME MONEY.

[Craig305]

Looks like people have lost patience and are now selling. With the stock market moving up and this staying stagnant and actually drifting downward, shareholders are be jumping ship. 
Opportunity to recoup $ elsewhere. 

[Craig305]

When you go to the AWMLOCAL.COM website....the embedded videos on the webpage are gone with the following message: "Video unavailable
This video is no longer available because the uploader has closed their YouTube account."

Not looking good here.

[oldguy]

The big volume was me today. I give up. Blew it out and put all the proceeds into ZHUD. I will now stand on one foot and hold on to my left ball and hopes this works.

[Craig305]

You are referring to the PR of Jan 21, 2021. I suppose it vaporized just like the uplisting they claimed to be doing back then also.
I suspect they ran into some tricky financial details of the former company they could not straighten out for the uplisting requirements. Who knows if that NOL was also something they could actually take advantage of.
Almost everything they have PR'd has never actually been accomplished. Pretty sad state of affairs here. 
For all we know, Vince might be gagged now due to all of the past failures of promises and timelines.
We can only hope Janice Ralston can force some changes being the majority shareholder and main investor.

[oldguy]

What ever happened to the .50 tax loss per share value that they had ?

[iamadog]

Over promise , under perform . The stock that they own only have worth if they perform . The only positive is minimal dilution with decent share structure. Still a salable shell . The company has zero integrity. 

[Craig305]

Remember this PR?
PHILADELPHIA, PA / ACCESSWIRE / November 16, 2022 / Pennexx Foods (OTC PINK:PNNX) has teamed up with iTouchNetwork and iTouchOrlando in a joint marketing and licensing agreement......

ItouchNetwork and iTouchOrlando are no longer operating as a Florida business. They were both inactivated in Sept on the FL business registration website.
Scott's email with Itouch email address is also no longer functioning. 
He is listed as the Chairman of the BOD for PNNX. 

Does this affect PNNX in any way? Will Scott have a more active role with PNNX? Who knows. We know revenue was never realized with the partnership. 

Need Vince to provide update as to what is happening with PNNX.

[Craig305]

Can anyone successfully send an email to:
[e-mail]? 

I tried this week and received the following error:

550: 5.4.1 Recipient address rejected: Access denied [CO1PEPF000044F1.namprd05.prod.outlook.com

[46er]

we got that going for us. LOL. Thanks again.

[Craig305]

Q3 financials were released.
No revenue in Q3.
Vince has some explaining to do.

[oldguy]

If only dreams could come true. If wish's were horse's, then beggar's would ride. Please feel free to add your own few choice words.

[ralphrotten]

Can someone run this up to $.10, $.20, $.30 for me. Thank-you in advance.

[Free Willy]

Would be interested in contacting her to get her thoughts on movement of the company

[Craig305]

TC Special Investment LLC 
Janis Ralston

[Free Willy]

Who is the main shareholder?

[46er]

Thanks for the update.

[Craig305]

PNNX is back to Pink Current status.
Let's see if we get the shareholder update by Vince next. Just don't hold your breath waiting for it.

[Craig305]

Looking at the filings you can see the largest shareholder of PNNX is the main investor of this stock. She has more shares than Vince and any other board member. Her family has controlling interests in other stocks as well. I'm sure the patience will eventually wear out and she might herself drop a new company in here. She has invested more than $1 million into PNNX. Something will eventually have to change around here. The question is how much more patience does she have with Vince at the helm.

[46er]

Yes, unfortunately. This team doesn't seem to be able to execute.

[oldguy]

Craig, you seem to know the people of power behind this stock. Perhaps if the Balasarian deal works out. You could suggest to the powers to be. To look into a reverse take over of this little gem of ours. Worth a shot.

[Craig305]

Q2 has finally been released.
We have definitely been lied to about "strong sales".
Sales for Q2 was a big fat $0.00

[46er]

They have been lying to shareholders repeatedly.

[Craig305]

Looks like you are correct.
Was told 1 month ago, they were working.on posting Q2 and shareholder update. Nothing but silence. 

[Craig305]

For a brief period today, all of PNNX filings with OTC Markets had disappeared from the website.
In it's place was the following message:
"The company has not provided financial reports or other disclosures to OTC Markets Group."

Was hoping to see Q2 appear after the glitch was corrected.
No such luck.

We remain in the dark.

[46er]

Unfortunately, Management has lost all credibility.

[Craig305]

PNNX is not ready to be bought out by anyone. They have not shown any revenues from their business model. They have not produced an app that was supposedly ready to be released 8 months ago. I have not seen the Google Adwords campaigns they promised were happening this year. 
I understand their marketing websites are where the money is to be made (not the app). Vince said sales were strong in January. We are in August and see no signs of life.

My belief is Q2 is also dismal with sales and they are trying to figure out a positive spin that can announced to soften the disappointment.

I don't want to be right, but can anyone say anything different? Where are the supporters? 
All previous bulls have abandoned ship?

[oldguy]

Hope fully, some one is buying the company. They could not be as bad as these guys in a million years. I am still stuck for a hundred and fifty thousand dollars. I never sold a share. It ain't easy being POLISH. The good news is I got one that is worst than this. But, that is not really good news. The DGNOF is waking up. The ZHUD looks like it could get legs in the spring. The VIX is not to bad. The DJTWW is under water. I be less than 500,000 out. So that is not too bad. Best of luck to all.

[Craig305]

I have been informed that the lights are still on and PNNX is operating.
Q2 financials will be posted.
Hopefully they will communicate with shareholders as to what is happening.

[Craig305]

Do you have any insight as to the current situation with the company? No revenue was produced as previously stated it was happening, Q2 financials have not been posted, and total silence from the company. 
This has the appearance of a failed startup.

[Craig305]

We have lost our bid support. The bidder at .03 has moved to .02.
Probably believes we will experience further pain with the sliding SP due to non compliance with the lack of filing of Q2 and expected low revenue.
Thank you to the person that buys a few shares after every dip. We get a short term boost of morale with an artificial buy on the Ask. 😀

[Martucciisalwaysscum]

It’s so sad. Vince is a clown who can’t get the job done.

[Craig305]

Companies that filed extensions are now posting their 2Q earnings reports. Crickets from PNNX.
I emailed Vince to inform and ask for the delay. No response either.
We have gone from a company that wanted to have audited financials and uplist to QB exchange to a company that cannot file a basic Q ER nor communicate with shareholders.

[Craig305]

I see there are no more moderators on this board. I will apply just to delete all the old and irrelevant data on the intro page.
Maybe I should just put an under construction symbol since that is what appears to be happening here. Never ending changes. Get close to a catalyst then tear it down and start over.

[Craig305]

PNNX has not filed Q2 on time and is now Pink Limited status on OTC Markets.
We can only hope that the sales are so strong they are having difficulty crunching all the new numbers...LOL.

[46er]

Vinny is a effing liar.