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HEY TOM POST YOUR CONVERTIBLE NOTE AGREEMENT!! LETS_SEE_THIS_AMAZING_DEAL_FOR_SHAREHOLDERS!!!!!
Mr CEO if you weren't going to sell your 3.9 BILLION shares, why not just hold them? Why are you issuing yourself paper, most likely at a huge discount to the PPS and protected from the 1:1000 RS you single-handedly voted for?
If you truly want to be transparent - POST THE CONVERTIBLE NOTE AGREEMENT
Someone else posted what would have been his thoughts!! Always tricky in this business!!
Hey Mr. Tom...or whomever this is...opinions are one thing we have an abundance of on IH...And I am of the opinion that the scrap metal yards are your hobby and selling shares of SPOI is your business...I want you to prove me wrong!!
Pretax income of $2,230,621 million, and Seven Months Ended September 30, 2021 of $4,930,290 million;
Net income of $536,586 million, and Seven Months Ended September 30, 2021 of $1,376,445 million; and
The cannabis acquisitions that we have under contract, had revenues of $186,000 but cannot be recognized until licenses are transferred, which should occur in Q1-2022.
So... we have Tom Smith..."the" Tom Smith CEO of SPOI...posting on IH for the benefit of shareholders!?...plus, You've spoken with Tom...on IH or the phone? I'd like to know more about the "seed to sale" MJ happenings when you can Tom?
Like this answer you posted on 11-5-16;
In the next few weeks all of your questions will be answered. Several people have been working very hard over the past 18 months to bring real value to this company along with a plan to insure sustainability for the future.
Or maybe you could embellish this statement from the 1-26-22 prelim #'s pending year end report...or about one month before you voted yourself a stock split"
FARMINGTON, AR / ACCESSWIRE / January 26, 2022 / SPO Networks, Inc. (OTC:SPOI) ("SPOI" or the "Company"), a publicly-traded company that is actively exploring potential acquisitions and opportunities in diversified industries, including an established revenue generating waste/recycling subsidiary plus a newly launched medical and recreational cannabis and genetic seed operations entity with the expectation of rapid expansion in the cannabis industry utilizing a proprietary vertical market from cultivation facilities, to wholesale and retail dispensaries, today released its preliminary Fourth Quarter 2021 financials.
yeah, maybe Tom had change of heart here.... interesting he posted on message board, maybe it's a hint
It's not valid until!!
Ill never understand a man that boards and stays on a ship that he thinks will sink. Instead he stands there and talks about how bad the boat is when he, in fact, can't even swim.
PAY NO ATTENTION TO THE MAN BEHIND THE CURTAIN!
I second that.
Prowler, I think we both know that you already know the answer to that question. I have always frowned on convertible notes. That was mostly because I didn't have any. For Tom, I am sure it is a good deal. But, it also can be a good deal for shareholders. The goal is probably to get the share price up before selling shares on the market. Tom wants the price up to sell, and everyone else on here wants the same thing. But I can tell you selling right now is just plain stupid IMHO. However, it does give folks like me and you an opportunity to load up really cheap shares just waiting for the opportunity to sell them later for a nice profit!
Crushing comments….your questions will be addressed in the days to come. I expect most of you to be pleased, the folks that sell not so much.
<<<"Although the SEC has authority over a broad range of corporate activity, state corporate law and a company’s articles of incorporation and by-laws generally govern the company’s ability to declare a reverse stock split and whether shareholder approval is required.">>>
Does that authority include stopping penny stock CEO's setting up a sweetheart deal for themselves??
SEC Approval is NOT required for SPOI to do a RS:
"Although the SEC has authority over a broad range of corporate activity, state corporate law and a company’s articles of incorporation and by-laws generally govern the company’s ability to declare a reverse stock split and whether shareholder approval is required."
Source: https://www.investor.gov/introduction-investing/investing-basics/glossary/reverse-stock-splits
Also note that SPOI is a NON-REPORTING company at this time. In other words they don't have to file 8k's, 10k's, etc for compliance.
<<<It's a no brainer. And the SEC I'm sure will be glad to look into it.>>>
Does the SEC have to approve this??....it sure seems like many of these penny stock CEO's manage to get what they want done?? TIA
The fact is that he is compensated in some form for his shares so he's not holding his shares through a 1:1000 RS.
Why do you think he is doing that?
If his "goal" for the RS was to get the share price high, then why issue yourself a note for your shares? He is benefiting somehow.
It's a no brainer. And the SEC I'm sure will be glad to look into it.
What if the note benefits him way more than shareholders?? Do you think that's fair??
Where did you see that the note was a convertible note? It might be. I just have not seen any details yet. Hopefully Tom will elaborate soon.
Also, what is wrong with Tom holding stock? He has built a profitable company from the git-go. Hopefully we will all benefit going forward under his management. We just need to give him a chance.
Have you not heard, "Patience is a virtue"!!!
Great questions OTC. I'm with you on finding the details of that note. Why wouldn't he subject himself to what all the shareholders are subjected too?? We need the details of that note. Sounds rather fishy to me.
Smith wants peeps to think he took 3.9B shares that were his and threw em into a box in a closet with that "retired" nonsense.
Wrong,their in a convertible note people. It converts right back to common shares in a specified time frame. It also converts at a specified rate. Could be 1 for 1 could be anything. If their subject to the RS then they could convert at 1000 shares for each share.
Shareholders...DEMAND to know ALL the details of that "note".
BTW,the last fins state clearly he owns 4.065B shares. So..unless he's been dumping since last Sept he'll still have 68M that won't be retired. He also has nearly 800M shares owned jointly with his wife.
Why did he bother "retiring" his shares and issuing himself a convertible note if he didn't plan on the share price falling after the RS? What is the purpose of a convertible note?
How much do you think that note is worth if he's issuing it to himself in exchange for 3.9 BILLION shares?
Do you have any thoughts about the DISCOUNT he will give himself for the conversion? Does the 1:1000 RS affect his note?
My question is, do you guys want to sit here as a penny stock trading for peanuts, or do you want to actually try to get on an exchange and have legitimate traders buy into the growth of company that has shown that over the last year? I think what he is doing is wise and he has the opportunity to become a multimillionaire. Why would he risk that over a couple hundred thousand?
And your point is?
The board of directors approved a RS!! It has not been approved by The OTC!!
https://www.sos.state.co.us/ucc/pages/biz/bizSearch.xhtml#:~:text=Create%20User%20Account-,Organization%20Record%20Confirmation,Confirm,-Terms%20%26%20conditions%20%7C%20Browser
ID Number: 20161733267
Name: SPO Networks, Inc.
Principal Street Address: 7060 W. State Hwy 96, Pueblo, CO, 81005, United States
Principal Mailing Address: Post Office Box 600, Farmington, AR, Arkansas, 72730, United States
Registered Agent: Winters Law Firm, PLLC
Registered Agent Street Address: 7060 W. State Hwy 96, Pueblo, CO, 81005, United States
Registered Agent Mailing Address:
Status: Good Standing
Form: Corporation
Jurisdiction: CO
Formation Date: 2016-10-27
Class Action anyone? This scammy CEO had a huge position of 3.9 BILLION shares which also included 700,000,000 shares he personally bought in his Etrade account according to Twitter screenshots.
Once the stock doesn't go up, he "retires" shares, but in reality he issues himself a CONVERTIBLE note pre-Reverse Split, thus giving him an edge on dumping out his position and getting his money back and now a lot of profit along with it.
This is literally a crime in action, and I'll gladly say that the SEC has already been notified and will be watching his every move.
Let's see the terms of your new convertible note Tom! Are you protecting yourself from the Reverse Split by giving yourself an ultra-low cost average for your shares at the expense of your shareholders?
We're watching you.
Glad I sold off most of my 10 million shares, but still hold a couple million. Buying more at these prices. When oil goes up, scrap metal prices go up. Very difficult for a company to move forward with a 10 billion share structure. This will open the door for more interest if and only IF Tom is serious about acquiring quality companies, hopefully expanding the cannabis opportunities. SPOI
All good points, sell-off hugely over done IMO
"Working toward OTCQB.
2021 financials being audited.
Almost half of the outstanding shares being cancelled.
Company is profitable and growing.
No dilution.
Cannabis prospects very promising."
Your loading shares before he takes 999 shares away for each 1000 you own? Each million shares owned becomes 1000 on the day of the RS.
This is a MASSIVE Reverse split.
Smith needs to think this over before he kills this ticker.......
Im just ready for the negative people that have been negative on this ticker for a while now to sell and move on. I have my opinion that Tom is going to take this to new heights and I am reloading and waiting it out.
I have a list of around 40 tickers in my Ihub monitor list that have RS in the last year. 99% of them never recover,most of them have little to no volume once the split happens and die. NO ONE will pay 1000X more for this stock than it was the day before.
Shareholders will be wiped out if they continue to hold. Divide all shares held by 1000 in exchange for a pps that will never hold that increase past the opening bell.
Watch too and see what Tommy does with that 10B share AS. Those are not part of a SEC approve RS. Smith has to reduce the AS with a filing to the SOS where this is domiciled. In fact he could do that filing TODAY just to show he's serious about lowering and improving the share structure.
"I'm going out on a limb and prognosticating"...
Don't stop!...your on to something there...
Midwest:
I realize your position on this, but the only way that this beast can make the money I hope it does is with a reverse and a board in control instead of Tom in sole control. I see it as positive development and a fast track to listing on an exchange. With the share structure we had, none of that was going to happen.
I also think it is probably good news. Just go back and read the press releases and financials.
Working toward OTCQB.
2021 financials being audited.
Almost half of the outstanding shares being cancelled.
Company is profitable and growing.
No dilution.
Cannabis prospects very promising.
I believe there is a lot going on behind the scenes that we may not know yet. Patience may be the key in the long run.
__________________________________________________
Why are people selling? This is great news!
__________________________________________________
Once things settle out, I'm going out on a limb and prognosticating that we will end up some where between 5.00 and 10.00 per share. Look for a listing on an exchange. That is based on the fact that Tom is retiring a bunch of his shares to a note. That will allow for the company to meet listing requirements as far as structure goes.
1 FOR 1000 REVERSE SPLIT COMING!! Told people for years this was a CON as Tommy boy does repeated deals with "himself".
SELL SELL SELL!!!!!!
https://ih.advfn.com/stock-market/USOTC/spo-networks-pk-SPOI/stock-news/87351441/spo-networks-plans-for-a-1-to-1000-reverse-stock-s
Tom IS A MAJORITY OF SHAREHOLDERS ... Surprise Surprise Surprise ...
Who/where are these people? We were not notified? and a majority of shareholders have approved a reverse split
SPO Networks plans for a reverse stock split
09:04 AM | SPO Networks, Inc. (SPOI) | By: Manshi Mamtora, CFA, SA News Editor
SPO Networks (OTCPK:SPOI) Board of Directors and a majority of shareholders have approved a reverse split of 1 (one) to 1000 (one thousand) split of common stock.
As of February 21, 2012, there were approximately ~8.34B shares of outstanding.
The reverse split will become effective no less than 15 days after the issuance of this announcement.
Company's, CEO and majority shareholder is also cancelling ~3.97B of his common shares; approximately 47% of the company's present outstanding shares.
Loading some bargain basement prices here, reversal due momentarily.
How is the reverse split a surprise? Disappointing to see it actually happen. But should not be shocking
There ya'go Stockboss...half price shares...take them all on the ask would you!!
Well then sell all you got... to me! Ill take some discounted stock. Im buying every dip
RS is great news sure
maybe in metaverse one day
Why are people selling? This is great news!
Tom Smith, The Company's, CEO And Majority Shareholder Is Also Cancelling 3,965,471,162 Of His Common Shares; Approximately 47% Of The Company's Present Outstanding Shares
FARMINGTON, AR / ACCESSWIRE / February 22, 2022 / SPO Networks, Inc. (OTC PINK:SPOI) ("SPOI" or the "Company"), a publicly-traded company that is actively exploring potential acquisitions and opportunities in diversified industries, including an established revenue generating waste/recycling subsidiary plus a newly launched medical and recreational cannabis and genetic seed operations entity with the expectation of rapid expansion in the cannabis industry utilizing a proprietary vertical market from cultivation facilities, to wholesale and retail dispensaries, today announced that its Board of Directors and a majority of shareholders have approved a reverse split of 1 (one) to 1000 (one thousand) split of the Company's common stock.
As of February 21, 2012, there were approximately 8,336,207,783 shares of the Company's common stock outstanding.
Also, in tandem with the reverse, Tom Smith, the Company's Founder, CEO and majority shareholder is retiring/cancelling 3,965,471,162 of his common shares which will be converted into a note. This will reduce the shares outstanding to 4,370,736,621 prior to the reverse.
After the 1 for 1,000 reverse split, and the cancellation of Smith's shares, the outstanding shares shall be reduced to 4,370,737 shares.
The reverse split will become effective no less that fifteen (15) days after the issuance of this announcement. Upon the effectiveness of the reverse stock split, SPOI stockholders will receive one new share of common stock for every one-thousand shares they hold.
The reverse stock split is expected to lead the Company's common stock to trade at approximately one-thousand times the price per share at which it trades prior to the effectiveness of the reverse stock split. SPOI, however, cannot assure that the price of its common stock after the reverse split will reflect the 1 for 1,000 reverse split ratio, that the price per share following the effective time of the reverse split will be maintained for any period of time, or that the price will remain above the pre-split trading price.
The Company will not issue fractional shares of its common stock as a result of the reverse stock split. The shares will be rounded up. Any shareholder who owns less than 1,000 shares will be rounded up to 1.
The Company will issue additional announcements as the process proceeds.
SPO Networks, Inc.
SPO Networks, Inc. is actively exploring potential acquisitions and opportunities in diversified industries, including solid waste, scrap metal recycling and demolition with special waste remediation. Additionally, SPO maintains the belief that patients and customers have a right to high quality, economical, and clinically-validated cannabis products. Towards this, SPO aims at medical and recreational cannabis and genetic seed operations with the expectation of rapid expansion in the cannabis industry. SPO is developing its cultivation facilities for extraction operations, wholesaling of cannabis and cannabis extracts in Colorado to licensed retailers and wholesalers. Eventually, the goal is to expand to retail product manufacturing and dispensary operations in several states, allowing SPO to offer a pricing strategy that will be attractive to consumers large and small.
For more information, please go to: https://www.spoinow.com.
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/SPOI/disclosure
Contact:
www.spoinow.com
479-443-6000
info@spoinow.com
SOURCE: SPO Networks, Inc.
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