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Silverton Energy, Inc. is an oil & gas production company with operations in Northern Oklahoma. As an active operator of their own properties, Silverton is actively engaged in the areas of maintaining current production, the rework of inventory wells and the acquisition of neighboring production. Currently the company holds upward of 2400 acres under its current production.
From their Twitter handle: $SLTN some adjusted language is required for processing share cancelations, which we are working on. This does not affect the progress being made by new management. We are grateful to have brought new life to $SLTN and look forward to seeing it thrive!
Additionally, the 775k “moved” to unrestricted has always been free trading, like the rest of the rest of the legacy $SLTN shares. However it has a stop on it and so the previous TA had decided to list it as restricted.
Lots of updates. New CEO with ties to UNRG updated on NVSOS. Share purchase agreement announced with merger updates coming. Awaiting TA to reflect the new SS. Authorized is only 500M and OS will be between 1.3M-25M (not clear how many were cancelled at custody discharge
Nothing yet. Just went back to pink current last night and the final order has been signed by judge. I expect to see the updated SS and AS reduced in the coming days. The profile doesn’t say type of business, but clearly states they plan to do a reverse merger.
Given that the websites expired, and I have not seen any Growspot updates since 2017, seems that the merger with Growspot isn't happening, as the company is most likely out of business.
Hopefully she's still looking for a merger, I have not had any luck getting hold of her yet, but still trying.
I figure if the business goes into revocation, then I'll tip off some of the big OTC custodians about the ticker, and let them know about it. If she has abandoned this, it would be worth trying to take it over, given it's limited trading history. The Chinese frequently pay $100k+ for tickers like this, that have not ever traded, or barely ever traded and don't have a ton of old baggage and disgruntled shareholders.
Forgot to mention, while the 'street float' is 1.3M, there aren't that many shares in the Market trading right now. Having followed the limited trading from day 1 on this, its actually possible that there are only 581K shares trading.
This is why I think that:
This was the first trade:
04/25/2018-- 0.2501--0.2501--0.02--0.15-- 581,900
These trades were all GLED, buys and sells out of the original 581K drop...total 540K shares.
Its very possible that the entire trading history, all buys and sells, have come out of that initial 581K share drop.
Granted, it's possible that the 264K shares that OTCX had were an insider selling out, but it's awful coincidental that the number is so close to what I anticipated they might have.
Entire trading history thus far, 1st trade was a 581K share drop that I think GLED picked up all but 40K of, he sold all the shares up until 4/12, then he dumped his final 261K and disappeared from L2.
So it dropped from .15 to .001 on only 436K shares total. In theory, with a catalyst it should be able to run back to the .10 -.15 range pretty easily, as long as no insiders are selling.
Of course there is no catalyst right now that I've been able to find, it essentially seems to have been abandoned.
95K taken out @ .01, now we see if OTCX comes back with more, if they were indeed the one who had the 237K GLED drop, by my count they should not have much more left.
95K today 115K yesterday 22K by me previously ___________ 232K total
Hopefully that's the case, as I don't think NITE has that much. If OTCX comes back with a ton more, then it's most likely an insider bailing out.
I suspect OTCX may have caught GLED's 237K dump @ .0011 and is now selling those @ .01....or could be an insider selling....hard to say at this point, have to wait and see how many shares they have.
Definitely not a sure thing here, pure gamble at this point.
Could also potentially see the hijackers/custodians going after this shell once the business license goes into revocation. I'm not entirely sure on the process for that, but given that it appears to have been abandoned, seems like it would be worth going after as you just don't see many new issue types completely vanish like this one did.
Even MM GLED, who had most of the shares that were trading, dumped them all and disappeared from L2, I've never seen that happen before and have followed tons of new issue GLED tickers. No clue what happened there.
Thanks appreciate it, I don't buy too many of the lotto type plays, but find this intriguing because it's the only stock on the OTC Market that I am aware of that meets these 3 criteria.
A) started trading within the past 4 years B) can be bought on the ask for under .10 cents C) has traded less than 1M total shares in it's history
It's risky, but unique, so worth a small gamble IMO.
I guess the 'street float' is technically 1.3M as thats the amount held at DTC. OTC does show 52M unrestricted though, which is odd as there should be a control block of 31.5M shares....so don't know what to make of that yet.
This is the type of shell that the Chinese would love to purchase, would not cost much at all to get the business licence up to date($975) and the SEC filings are also not that far behind either.
WTH added some more today, reporting or not you don't typically see newer issue tickers, that have only traded a few hundred thousand shares historically this cheap.
If/when it ever gets reinstated it should run significantly though as there are not many shares held at DTC, and Ron McIntyre just consulted on an excellent cannabis RM last year, PHBI, which is current $2.25 pps with 75M o/s.
Could be 10 years or 10 days before it ever gets filings or a reinstatement, no one knows, and I have not had any luck finding out anything yet.......So just a pure lotto at this point.
You still got shares of this..?? Finally got cheap enough for me to grab a little for a pure lotto play. Don't usually buy delinquent tickers, but since this has not traded much historically, and has previous cannabis ties, figure worth a small gamble in the event it ever comes back to life.
Only about 850K shares total traded historically, and most on one day 4/25/18.
1 On March 25, 2013, Tireless Steps’ majority stockholder, redeemed 10,593,550 shares of 11,000,000 shares of common stock held by him, and Tireless Steps retired such 10,593,550 shares into its authorized common stock thereby reducing the total issued and outstanding shares of Tireless Steps to 676,450 shares. Tireless Steps is not holding such shares in treasury. Lei Sun’s redemption of 10,593,550 shares did not result in a change in control of Tireless Steps, as Lei Sun still holds a majority of the issued and outstanding shares of common stock after the redemption.
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