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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
The par value is based on the SEC determination of valuation. It makes no difference what the state says (from the SECs point of view).
Wrong, it is two separate filings. It is an SEC form 8-K in most cases.
BTW, par value of the stock does not change unless the company submits a amendment to the SOS. No Finra/SEC involved. But in reality, par value of stock is meaningless, unless you are incorporated in state (e.g. Nevada) that charges your annual filing fee by number of share o/s and par value can't be below $0.001 for calculation purposes.
Wrong, the a/s reduction is a simple filing by the company to the secretary of state. SEC/Finra have nothing to do with it. But it is up to the company to notify the Transfer agent of the reductions and send the sec of state filing amendment.
The transfer agent is not involved with the AS change. The company would need to submit paperwork to the SEC / FINRA, and that is the kind of paperwork that requires approval by the SEC / FINRA, since it (effectively) changes the par value of the stock.
With regard to the AS OS updates on OTC Markets you posted
"No, they don't. The company says "move X amount of shares", and it is up to the transfer agent to notify FINRA / OTC Markets of the share structure change."
If that is the case then how does that apply to reporting the reduced AS?
Is the transfer agent waiting for the company to notify them of the AS change? Did the transfer agent forget? Was the AS reduction cancelled and we are waitiang for Sunbiz to catch up?
Is there a risk of liability that grows by the day?
When do you expect the Transfer Agent to report the AS order of magnitude reduction if indeed it has been reduced?
Yep definitely bearish on this POS!!!
They will run this bitch down to no bid like you said. Criminals. Maybe they even declare bankruptcy and screw everyone that bought it on the way down. I like the little red bear faces, they're cute.
How much more can this turd be diluted, squeezed, scammed, reverse split??? It’s already less value than dirt…..
I truly believe this, unFAIR has never said a word, there isn’t enough pumping in the world to say this POS dog shit turd.
He never left. He's been the guy behind the scam all along. He just "creates" a new CEO to replace the old CEO and reinvents the scam.
According to everything I’m reading, David Rees is still involved with the company. Some recent Yelp reviews have confirmed this and I thought he was prohibited from being involved with a publicly traded company. Could be wrong though.
I'm sure Fair is looking for a way out. But if he sells it back to Canouse, Fair looses all the assets he had when he came into this. Maybe he doesn't care at this point though.
Their website has been down for a couple of weeks now, so maybe they are ready for bankruptcy filing.
In hindsight you can see why the MM’s discounted the post split price from .05 to sub penny so quickly . They knew about the massive dilution that was soon to follow.
At least another 6 million shares today. Like HVCW, I’m guessing the CEO here did something that royally pissed off Canouse and they are giving him the full dilution treatment right now.
The underlying business and the stock price have detached from one another (and has been for quite some time). However, the business is so heavily leveraged that it probably has negative equity at this point since they owe so many lenders and vendors so much money. Add in this EEOC lawsuit and there is no way out imo, except to file Ch. 11 .
After the failed RS I barely own any of this garbage!!!!
They need to put some brownies or oatmeal cream pies in there, I would love that. 😛 Now I'm hungry.
The shareholders cookie jar needs to be treated to something BIG….with how they have screwed us over for damn near 2 years now.
He needs the cookie jar to stay full, so he can take more cookies. If Fair won't put out news, Canouse(s) will.
So CONnouse still has his hand in the cookie jar here since he is posting on Twitter.
Actually, it is less than trips, it’s already been here before pre-split.
Damn clownshow, it won’t help the share price!
From Joseph Canouse on X -
$THBD reduced authorized at state....to 5bb from 50bbhttps://t.co/T19dIxOpLv
— joseph canouse (@joecanouse) February 26, 2024
They must be trippin' (cause we in the trips now).
Its a big piggy bank for Fair / Canouse. (Honestly) I would do the same. Why care about investors when you can just dilute / reverse split endlessly? I wish I would have thought of it. I'm amazed it's legal.
Why is the POS even trading????
I was curious about that too. I just noticed it yesterday. They are either up to something good, or they just don't care and stopped paying the service provider. My guess is the latter, since it has been over a year since they put out news, and stopped Tweeting (X-ing?) a long time ago.
Anyone know why their website has been down for week now?
OS updated to 111,989,230 2/27/2024
Was 103,989,230 2/26/2024
Tanking back to no bid just as I said....total disaster and should be illegal!!! What a disaster!!!!
An award for worst communication also, i.e.- none.
Shit show of the century! Also first place with the biggest scam on the OTC.
Will cost you more in commission to sell this POS than what the POS is actually worth.
I think we should add 6 mil to the 4 mil from this morning for dilution.
Get up to 114 million OS whenever the transfer agent wants to update.
They sure are anxious to get the updates out there. They want everyone to know.
I mean- "interesting" in the way a train-wreck is interesting.
It's interesting how they seem hesitant to burn through all the $0.001's They always leave some there. Maybe they are not desperate enough (yet) to go lower.
They will update once they have moved their share quota for the day / week. Otherwise they just report the same number as the last update.
I am aware of that . It was a typo. OS is unchanged since Friday.
Dilution doesn't change the AS (only the OS would change), but yes, the OS is the same, until the TA decides to update it. They usually wait until they have moved a predetermined number of shares. Otherwise they just give OTC the same number as the last update.
AS is the same as Friday.
$THB TURD is going no where but back no bid for a 2nd time!
So far today, at least another 4 million shares dilution ….however the day is young.
Canouse/Fair needs to be SUED and have a lawyer at their front door! Morons!!!
Probably soon since we just saw the Annual.updated with legal terminology regarding the rights of the different share classes. Posted then that it looked like a lawyer scrubbing.
I think they would have to put out an attorney letter to be current, which would be required for a FINRA filing to change the AS. So, yes - letter - OTC Pink - AS reduction. But who knows how long that will take?
What's next? You looking for a lawyer letter based on the updated filing and OTC Pink again? That seems to be up next in my universe.
One thing is for sure. They have had years to plan this reveal so I expect to see their best effort. This is the promo that Canouse will forever be judged upon.
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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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