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Aren't they filing for Chapter 7?
Odd post. You don't generally reverse split a float that is already way too low for this price point. It's only 350ish million at 0001. You usually split bloated floats with billions of shares down here. Completely the opposite of this.
How can a stock go lower than $.0001?
Good Question! I will tell you.
Its called a reverse split. Example: say SPDL does a reverse split of 500 to 1. now the 1mil share someone has bought is only 2000 share. but you will say you its has the same dollar value. and I say true, but it is only the same as long as the stock does not start declining again. which is usually the case.
So now your 1mil share at .0001 that reverse split is 2000 shares and is worth less than the original amount you paid for it. less than .0001
The thing to do with SPDL is to wait for a better day. Which IMO will come in the next 18 to 24 month. SPDL has a great finacial technology, but had the wrong person leading the company. I also believe it will be back as a better organization
Why not list the only relevant number, which is what is actually being traded right now?
Unrestricted
349,235,042
Outstanding Shares 433,903,734 +58,008408
SPDL, 2's being bought up, over 5 million today! looks like reversal is in!
WARNING This company is in bankruptcy!
https://www.otcmarkets.com/stock/SPDL/overview
Bankruptcy: What Happens When Public Companies Go Bankrupt
https://www.sec.gov/reportspubs/investor-publications/investorpubsbankrupthtm.html
Under Chapter 7, the company stops all operations and goes completely out of business. A trustee is appointed to "liquidate" (sell) the company's assets and the money is used to pay off the debt, which may include debts to creditors and investors.
You're asking the wrong person. Agreed that no companies have money down here but it would be nice to know why they went this route. They haven't said they are ceasing operations like some other Ch 7 8k's I've seen.
why are peep so paranoid about the BK file! lol 99% of pinky stocks are broke theres a reason they trade in the trips....I think a nice bounce is very possible good risk/reward here with this tiny s/s
SPDEL
does that means a pop is possible with this tiny s/s?
SPDL
A reverse split on a 350 million float at trip 2? This place makes me laugh with the lack of understanding share structures.
RS isn't helpful in Chapter 7. Turn out the lights, this one's done..
...anyways tell me of a pinky that isnt broke theres a reason they trade here in pinkyland lol
SPDL
$SPDL .0002 -0.0004 (-66.67%) Volume 108,242,653
I’m curious why anyone would be buying this trash. Chapter 7 means it’s all gone. Shareholders get nothing. Even a buy at .0001 is worthless...
unbelievable ,saw that Friday
2 Board of Directors RESIGN and $SPDL reports the news to shareholders 9 days later.. Internally $SPDL can't be trusted..
Getting closer
all these lies and deception,after that last PR,rolling sleeves and working with shareholders,my A@@
placed my sell order on firiday at 4 :01 PM,got out at 0004 very lucky with only 2K loss
Thanks for your concern. Be safe out there.
None of these otc companies have any money. This should hold off any dilution for a while and the float is still ridiculous for this price.
$SPDL ..BANKRUPTCY
https://ir.spindle.com/all-sec-filings#document-3382-0001393905-19-000099
Don't Go Broke Buying Bankrupt Stocks
https://www.investopedia.com/articles/stocks/09/bankrupt-stocks.asp
Bankruptcy is usually deemed worthless
Watch this run now that its debt free. Bankruptcy is prob the best thing that has ever happened to this turd.
Thank you, well... i guess ill cyall at .0001 lol
Wheres the Bk news listed at? Link please
I had a weird feeling from the email response, should have gone with my gut
Basically priced as being bankrupt already honestly. Can it really get worse with that share structure?
Item 1.03 Bankruptcy
On March 21, 2019, the Board of Directors of Spindle, Inc. (the “Company”) voted to authorize Management to file a petition for relief under Chapter 7 of the United States Bankruptcy Code. On March 22, 2019, the Company filed a petition for relieve under Chapter 7 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Middle District of Florida.
The proceeding is captioned In re Spindle, Inc., case number 9:19-bk-02549. The initial hearing for creditors has been scheduled for April 23, 2019, and the enclosed Notice of Bankruptcy Case Filing has been sent to known creditors. A receiver/trustee has not yet been appointed, though the Company expects one to be during the April 23 hearing.
The information required to be provided under Item 1.03(b)(5) is enclosed in the Voluntary Bankruptcy Petition, as filed with the court.
Item 5.02
Departure of Directors or Certain Officers .
On March 21, Joseph Horowitz and Ronald McIntyre submitted their resignations from Spindle, Inc.’s (the “Company”) Board of Directors. Mr. Horowitz and Mr. McIntyre both noted that their departures were not due to any conflict or disagreement with the Company or its Management.
The remaining Directors, Mr. Wesser and Board Chairman Dr. Scott, subsequently met and accepted the resignations.
https://ih.advfn.com/stock-market/USOTC/spindle-inc-qb-SPDL/stock-news/79587944/current-report-filing-8-k
Filing for bankruptcy... guess that's all she wrote here...
Why do you say that Mr.Kelly,shareholders been through enough?
first post
Jack Scott successfully and incompetently drive Spindle into bankruptcy this week.
seems April to July want to North
and some times Dec.
Yup, been checking spindle.com for more updates, as most of it has been untouched since 2017... :)
$SPDL
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Spindle is an emerging provider of innovative marketing and commerce solutions delivered through the “Catalyst” brand. Spindle’s Catalyst Commerce Solutions have been built to suit B2B and B2C businesses of all sizes with vertically integrated, industry leading technology. The proprietary, integrated marketing and commerce solutions delivered through Catalyst, assist merchants increase customer acquisition, increase profitability and increase loyalty. The Catalyst approach, primarily focused on Small to Medium-sized Businesses (SMBs), is uniquely engineered to rapidly integrate mission critical business services, payment solutions, digital marketing and customer engagement to enhance transactional growth. Spindle’s proprietary intellectual property includes a portfolio of patents pending, encompassing networks, mobile payments, and security software. Spindle maintains a consistent commitment to innovation, Spindle’s Catalyst Commerce Solutions will continue to be enhanced, in order to consistently deliver sophisticated payments integrated marketing solutions.
Spindle, Inc. provides merchant and consumer-facing commerce solutions for small and medium-sized businesses in the United States. It offers payment processing services to merchants using its Catalyst Gateway; and acts as an agent, independent contractor, or referral partner to broker merchants that it secures to other merchant processors for ongoing fees based on processing volume. The company is based in Mesa, Arizona.
Chairman of the Board, Interim Chief Executive Officer
Dr. Jack Scott has served as a director since September 1, 2014. Dr. Scott has a diverse technical and business background spanning more than 35 years that includes applied research, consulting, sales and sales management, executive positions, and ownership of a group of five recycling and manufacturing businesses, including one joint venture, through a holding company, Canadus Technologies, LLC. Dr. Scott is a founding member of Canadus Technologies, LLC since January 2001. Prior to his experience with Canadus Technologies, LLC, from February 1997 to January 2000 Dr. Scott was President and CEO of Encycle, Inc., a $300 million recycling subsidiary, owned by Asarco, Inc., with more than 1,000 employees. Prior to Encycle, Inc., Dr. Scott held various senior management positions with several other companies in the recycling and manufacturing industries.
President and Director
Mr. Wesser most recently served as Executive Vice President, Secretary, and General Counsel at Professional Diversity Network, Inc. (“IPDN”), a global technology and networking company having offices in China and the U.S., with 15 million members worldwide. IPDN is traded on the Nasdaq Stock Market under ticker symbol IPDN from 2014 to 2017. Prior to his service at IPDN, Mr. Wesser served as General Counsel and Secretary of NAPW, Inc., managing all legal, insurance, logistical and business risk matters from 2009 until NAPW was acquired in 2014 by IPDN.
Prior to joining NAPW, Mr. Wesser was a partner with a private boutique litigation firm, where he served as local and national counsel to large corporations in numerous complex litigations in state and federal courts as well as before governmental agencies nationwide. Mr. Wesser holds a B.A. degree in Finance, summa cum laude, from LeMoyne College and a J.D. degree from William & Mary Law School.
Director
Mr. McIntyre has extensive management experience with technology companies and start-ups in the United States and Canada. From 2009 to the present, Mr. McIntyre has worked as an SEC compliance consultant providing securities law services to private and public companies. Mr. McIntyre was President and Director of Vocalscape Networks, Inc. from 2004 through 2008, served as a director of Nevstar Precious Metals, Inc. (NVPM), and is Secretary of SPARC Asia Ltd. Mr. McIntyre also served as Vice President, Sales & Marketing, Director of IT, and COO for Aimtronics Corporation. Mr. McIntyre also served on the Board of Directors of Richmond Software (The Maximizer) until the company's merger with Modatech (NASDAQ). In 1989, he joined Consumers Software Inc. as Director of Sales & Marketing and was instrumental in increasing software sales by more than 500% until the company was acquired by Microsoft on April 8, 1991.
Director
Joseph Horowitz currently serves as VP Business Development for ExcelAire. He is currently a consultant to Eiger Marketing where he helps manage PGA Tour partnerships. He was also previously a Brand Ambassador for both Tempus Jets and Webair Internet Development. A professional golfer, Joe played on numerous tours, including PGA Tour Canada and has won professional tournaments worldwide. He's also routinely been featured on the Golf Channel as a network recording artist.
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