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There has been a lot of uncertainty with the company in yield sign territory and the annual and quarterly filings issued without attorney letters and subsequently reissued. I am predicting that we will see attorney letters related to those filings very quickly with the company back to pink current on OTC Markets. That is the sign that I await that would move the company into the final phase of the cycle.
The note holders in the background waiting to sell are going to be waiting a very long time if the Issued Shares are exhausted as I believe they are. Share price started to move up today as investors are realizing that the selling cycle has completed. Some posters on this board seem to believe that the company insiders can convert up to the full AS without first issuing shares. That is not true. People with that belief can read up on share issuanceon Investopedia. If they desired to issue more shares they had a window over a year long with an open offering. They could easily have issued treasury stock but they chose not to. My guess is that there is a contract with the toxic lenders that prevents the company from increasing the issued shares and as a result of financing activity in the past they are limited to the shares currently issued which as I posted earlier this week are probably mostly in the OS with the exception of some Treasury Stock retained to fund the pending promo activity. The company has not reported the number of issued shares anywhere that I can find so one needs to watch the trading and OS reporting on OTC Markets to form an opinion about the remaining Treasury Stock. If someone has found it then please post.
That's my guess also. It allows them to build up some bid support to dump into, and then they don't need to lower their own bid (which is still sitting at $0.0005 now).
Yep, looks that way.
IMO , MM’s sucking some buyers in by raising the bid/ask to create the illusion of strength in the stock. As we all know, note holders hiding in background waiting to sell.
What they keep changing (or updating) is the dividend, voting, liquidation, and conversion rights of Hicks and Canouse’s(Jeff and Joe) preferred stock. Probably due to Third Bench’s default on two notes.
All that work to keep the company at breakeven then they default on two convertible note to Canouse and Hicks.Which of course is never good for shareholders.
NOTE 13 – DEFAULT PROVISION ON CONVERTIBLE NOTES
The notes issued in July and September 2021 have step-up provisions which allow for the notes and accrued interest to be stepped up by 50% once these notes are in default. This occurred in the current period and as such, the face value of these notes and accrued interest was increased by approximately $460,000 and $100,000, respectively.
If you look at the last page of the report you can see the damage cause to shareholder from the conversion of preferred shares. The company spins it as they are retiring preferred debt. But in actuality it is costing shareholders significant common share dilution . 10,000 - 16,000 common shares for each 1 preferred share retired.
Quarterly out now (revised Nov 30 2023)-
Interesting how they keep revising these filings.
https://www.otcmarkets.com/otcapi/company/financial-report/394074/content
The last two share increase updates have occurred about 5 days after the shares were traded in the market.
We should see an update today, but maybe Monday. They don't have the bid support right now to move the amount of shares they want to, so sometimes it takes longer.
Oh come on. You excitement transcends your words.
So you expect a Friday update for the week that differs? You seem quite sure. Like you are connected enough to know and not speculate like I do.
They will update it to the real number once they meet their quota for the week or day.
OTC pink soon. Maybe very soon. So many deals coming around the OTC. Gotta do this one before all the mergers start and the fed crashes the market.
But yet the TA updated OTC Markets late today with no change in OS. That's new. Usually they update when something changes. Now updates to tell investors no more dilution is taking place. It's close. If there were billions of issued shares available why did they issue shares for the last offering and why didn't they issue more when they had the open offering? Maybe it's part of the deal with Trillium Partners.
LMAO, nothing they do at this point matters at all!!!👎
Nearly time for the attorney letter and Pink Current.
I like those guys. I got some .0007's this morning.
Down the drain. I like to think of them as red panda faces, it's less depressing.
Pretty likely a six digit price for 4 million + shares was a dilution trade. We will know in a few days.
OTCN was sitting on the ask (they had the lowest ask price).
That trade went thru at the ask so it's doubtful that its dilution.
No bid coming……mark it!
4 million share dilution trade just before the close yesterday. Hundreds of millions of shares left to go, if not billions!
Sums it up….pile of SHIT!!!!!!
A major ECN for both toxic and non toxic OTC trading.
Since OTCN is the main MM thru which toxic shares are traded thru it comes as no surprise that they have shares available at .0008 .
I bet we see that yield sign vanish within a week!
Free shares today! OTCN has lots and lots of shares for sale at .0008. Don't let that small quantity fool you. Great chance for smart money to get in the game. All the other market makers are sitting at .0012.
Pile of shit is sinking into the ABYSS yet again....
Yeah, there is no way I would drop a dime on this turd.
Actually the last three digits stayed the same on the OS.
OS updated to 111,989,230 2/27/2024
Was 103,989,230 2/26/2024.
123,064,230. 3/5/24
Sounds like you are trying to convince yourself to hang in there by coming up with these nonsensical theories. Good luck to you.
Why…does anyone even care about this POS anymore!! My RS 80k shares are basically worth shit and will remain so.
Yep, this is flat garbage! We are beyond stuck!! Shares are worthless!
What?? Why?? Absolutely no reason to throw money at this turd, the writing has been on the wall for a long time now…
I am pleased to be participating having added during the dilution phase. I am surprised that they did not issue more stock during the year long plus offering where they only printed shares right at the beginning. The AS is a lot less important than the number of shares issued at times like this. Time will tell but the unusual amount of shares diluted today suggests to me that we have reached the end. I expect that there are shares left to pay for promotions and we are going to need some of that. There are a lot of investors who bought and dumped at a loss over the years that know all about this stock and will probably desire to make back their losses. The question is if it is really Third Bench or something else from left field and David Fair makes his money and goes back to his kitchen fab work in peace. He certainly has not engaged with investors so far. My guess is that THBD is going to be the hottest NFT Blockchain reverse merger of 2024.
I have talked to Jeff by text, but do not (and will not) invest more in this. I am stuck here as all the old investors are.
So some of you posters have been able to talk to Joe and Jeff C in the past yet you continue to invest in their dilution schemes?
That is the definition of shaking my head!
Those guys will tell you only what you want to hear, not what is really going on. Since practically all their companies wind up at .0001 .
It certainly is an odd company.
They filed with FINRA, it wont show up today. FiNRA filing is the bare minimum for OTC markets, and easier than SEC filing. This company is delinquent on SEC filings, so it would be more complicated and costly for them. For example, the SEC says the ticker THBD is still registered to New America Energy Corp. since they never told the SEC about the name change. No surprise, as this compay always does the bare minimum.
Interesting that today's OS increase is an odd number. Not the usual round number. That is why I predict that he is done. This is the first time the last three digits of the OS have changed since I checked the OS on Feb 1.
AS update without all the Finra and 8K mumbo jumbo that people thought was necessary. Now the process should be clear to investors. I called it within a day. My watch says its very near time for the Big Show with the AS update behind us and what I believe to be the final climax of dilution already in the history books. Probably a few days of meaningless trading at our low valuation that could shake out a few more shares, but its very close. Its got to be a good deal because years of work went into it. No one would work that hard unless they expected a substantial reward.
Like they say: THBD investors Make Da Money!
OS updated to 123,064,230 3/05/2024
Restricted 13,921 3/5/2024
I was trying to remember where I've seen your handle before. We had some good fun on ARYC way back when. This time will be better!
Yes, they can apply for the change at any time, and yes, it will most likely be approved (unless their filings are not up-to-date). It must be done in two filings in this case due to the incorporation rules of Florida. Just filing with Florida will not magically change things on a federal level. Jeff C. is easier to get in contact with. Joe has never responded to me.
SMH at both of your posts. The change of a/s and par value could be one filing or it could be two filings. Doesn't make sense to do it in two filings, but is a possibility. The par value of a stock is set when they go public, the company can change it at anytime without SEC/Finra approval. You can verify that with Joe C., he is pretty open to questions
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Since 1975, Davis Kitchens has offered striking design, quality cabinetry,professional installation and first-class service. Davis Kitchens is Southern Arizona’s leader in cabinetry. We are a major Tucson, Arizona cabinet distributor for remodeling and new construction alike. We provide professional cabinet designs and installation for your kitchen remodeling, bathroom remodels, room addition, or new home construction.
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