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That's in addition to the Preferred Shares that were issued. See "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS" table on page 48 of that S1.
The latest S-1 revision states they can dilute 600 million shares with a floor of .005 as of 5/02/24. https://www.otcmarkets.com/filing/html?id=17506929&guid=0BQ-kaeVnmY4B3h
Decent prices earlier, just didn't last long enough. Maybe more next week?
Agree with you and probably some flipping investors getting in on the cheap price. My funds isn’t available until Monday. Have a great weekend with your mother and family.
you get a lot more volume when the PPS is so low.
Sudden surge of buy volume. Audit completed? Perhaps with earnings PR on Monday!
Where’s Bud-Wiser???? Is he buying millions of shares today? He could have if he had been. Easy picking and cheaper.
I'm sure Mr. Jordan will do very well with his company....unfortunately, the reason to go on the OTC is to use YOUR shares to get there. Timing is everything. The time for retail is not now. IMO.
Wouldn't doubt it. Plus cashing out for last minute Mother's Day presents.
0042 was the lowest point so far. Come 3:30 and a weekend, it might touch .004 again.
Won't have to wait till Monday for .004's they are on the doorstep knocking.
ReachOut just closed an acquisition of a $1.7 M revenue MSP for $121k cash and 750k Preferred shares at $1 with a 1 year lock-up.
Mr. Rick Jordan is flying across the country hosting MSP Sellers Dinners to court more MSPs to acquire.
Why would any MSP owner sell their multi-million dollar mature business knowing all this?
Would Mr. Rick Jordan need to assure prospective MSP owners there will not be dilution within the 1 year lock-up period before Nasdaq listing upon selling their business to ReachOut?
If an MSP owner is selling a mature business, they need assurance that noteholders aren't going to dilute and tank the SP. Those Preferred shares in a year+ need to be more valuable than taking an all-cash deal today.
I was fooled for a few weeks, but I started selling off once I saw the coming dilution and then doubted a good run before it. 6 months in this and I ended up about even.
I think his engagement on message boards is a big mistake.
I guess he still has some time to get filings in...if not, this will absolutely tank and he'll have quickly built himself a reputation with investors.
No wonder Rick is so happy these days. Wealthy men I’m guessing.
Notice all your pumpers have moved on.They already dumped at 0.008 and took their dog and pony show elsewhere.Good luck and good trading.
Mmm...or selling before Expert Market. That's the elephant in the room IMO.
What kind of games !!
With Trillium controlling this expect games to be played.
This baby is cooked for now. Dilution at its finest. It’s coming our way soon enough. I’m buying Monday morning in the.004’s. GLTA
Fraid not. Would be nice, but...
Most likely to insure that Rick was paid the $525k at conversion. This is pretty standard stuff with Preferred Shares issuance at public companies, ie attaching rights, dividends, voting powers.
How did they arrive at $3 as the value given for the Preferred Shares?
No, the Preferred shares don't convert at $3. That's the value given to them as Preferred Shares. When they convert to common stock they are at the value of the common. You can apply any value to a Preferred share.
There's no magic that bumps the share price to $3 or $1 as the other issuance has the stated value at.
There's also no conversion requirements for price put on those Preferred shares.
Thank you for highlighting this.
Preferred Shares convert at $3.
What is the current share price?
Are the Preferred shares in the money?
Would they be able to convert the Preferred shares to Common shares and sell now at a profit?
Or would they wait until share price reaches $3 before converting and selling for a profit?
That conversion also has attached to it a $525,000 payout to Rick and a $25,000 payout as expenses to the balance sheets when converted.
Rick - 8,750,000 shares x $3 per share x 2% dividend = $525,000
That's not exactly a healthy expense given the 8K/A prof forma consolidated financial statements showing $1.2m loss on only $7.3m revenue for 2023.
Could you cite where it states that in the filings?
180 days after December 13, 2023. That is June 10, 2024.
When are the Preferred shares eligible for conversion?
Exactly. That dilution is spelled out in the recent filings.
So what? You were talking about their offering and uplist, using it as a positive example. I advised you not to.
Any interest whatsoever in actual DD? Like, say, figuring out how the preferred shareholders, whose shares convert into 87.5%, 10%, and 2.5% of what they describe as the total company equity, are going to get to that? I mean, it sure sounds as though the common stock right now has to be wiped out for that to happen. Anybody asked the CEO about how that is going to work?
https://www.otcmarkets.com/stock/UCLE/disclosure
Fruci filed
10-K, NT 10-Q by 05/16
Thank you for the detailed information.
I think we will be fine by the 15th, if not sooner.
I was commenting on Uturn33 posting. LOL 😂
https://www.otcmarkets.com/stock/MJNE/disclosure
Fruci filed:
10-K, NT 10-Q, 10-Q
All within 3 weeks in mid-May last year.
Fruci will need to file another 5 day extension for the FY 2024 Q1 10-Q on 05/15.
10-Q for FY 2024 Q1 is due within 5 calendar days.
Will they be allowed to file an extension for an upcoming filing before submitting a prior filing for which they've already filed an extension?
Then they’ll absolutely need to file the 10-KT for FY 2023 by 05/15.
Then file the 10-Q for FY 2024 Q1 by 05/20.
Most of the work for FY 2023 as of end of Oct 2023 already completed in the 8-K/A.
Just need to append two more months, Nov and Dec 2023 for the 10-KT.
Fruci has filed FY 2023 10-Ks for their two dozen+ other clients.
These are the only three still pending FY 2023 10-Ks.
Last year, they managed to get their two latest (MJNE and UCLE) filed by 05/15.
Grace Period is auto-flagged based on a fixed criteria and automatically goes away when the required filing is submitted.
No excuse to not have the 10-KT filed by now when Fruci filed an NT 10-K on 03/27 that they would get it in by the extension period ending 04/15.
Grace period should light a fire in Fruci to file the 10-KT by 05/15!
Anyone who wants an almost guaranteed return look at RDGL.
$SUUN starting with comparable growing Revenue/Net Income to ReachOut went from public listing on OTC to just uplisting on Nasdaq within a year.
$HQI $FTLF $EXPI $POWW $WFCF $CELH $MNMD $XPEL all OTC to Nasdaq.
Shift through rocks to find the gems.
That this is not being promoted is what leads one to believe this is legitimate.
Key difference is $VERB Technology has 0 revenues while ReachOut Technology has $10 M+ Revenue annual run rate and growing.
In 6 days I believe....
Tomorrow will probably provide a better entry point. not likely to go up while people sell for weekend beer money.
someone picking off some shares $10000 in last few minutes
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