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Moment of weakness. I saw the ignorance oozing and for a brief second I wanted to engage. After I hit reply I thought better. I obviously knew your thinking and I knew it was wrong. You speculated without knowing the facts.
What you have to say isn't uncomfortable. You just failed to ever say anything of value. Just keep talking to Surf and I won't see it.
I just don't really care what you have to say. Notice my response of what you would say happened before you said it. I was right on the money. So predictable.
Since I really shouldn't have engaged with you, I will answer my own question:
You: HMBL withdrew its last RS. That must mean that FINRA wouldn't process an RS.
Not true. Someone who had Foote's ear threatened to make waves if they did a RS while having so much convertible debt. Had they done a RS last year, they would have cut the value of every stockholder's position by over 90% and then the stock would still be sitting at about the same value. The only ones who would have benefited would have been the lenders. Instead, debt needed to be eliminated or virtually eliminated before a RS so shareholders can retain as much value as possible.
:But, but a RS will wipe us out.:
At this point, the stock is sitting at .0002. Down from .0003 when the shell was bought. Down from $1.40ish high before the "gentle" RS. The wipe-out already happened.
By waiting until after debt is removed, the RS will be simply a cutting of the pie into different pieces as long as they have income to pay their fixed costs at minimum. I expect a 100 to 1 RS eventually. I am ok with that as long as it is done after debt is eliminated and an income stream that is expected to pay the expenses.
You: NO, FINRA didn't process, so they had to pull the RS.
How did you come up with that?
That is a great update. Thank you.
Just yesterday it was trading at the same price. Sharp's involvement way back in 2020 got the price up from .0003 to about $1.40. Foote did some "CEO" stuff and caused it to crash. Foote got schooled, but I think he is figuring things out. Or so I hope. We should find out soon enough.
I would love one. Tried to get on their wait list when they first came out. Tried to put down a token deposit, but it kept giving me an error message. Instead, bought Sierra Denali because it was immediate. I still might replace my current truck with the Tesla in a year or two. My only concern is battery life in the winter months.
I think we will be looking at 100 to 1 RS. That will be big and painful to anyone who owns less than 10mil absolute minimum. Since 10mil is currently $2000, anyone that owns less than 10mil shares might be better off dumping their share now. I think that those who own 100mil or more will do very well within 3 months of the debt being paid AND the RS that will be coming. I am looking at 100x my investment, but realistically, I could end up with nothing at all. Playing startups is very risky, but the payoff can be huge. I have done this a lot of times and have made a bit of money on a few of em. Enough to to be up substantially even though most became worthless. Good luck.
Why are you surprised? I really don't get it. The company is converting debt to equity. All anyone has to do is look at the quarterly reports and realize that they will be dumping a ton of shares to get from the remaining balance of about $1.4mil to zero.
Dumps are going to happen fairly regularly for maybe 6 more months. Is it a good thing? NO. Is it a surprise, NO. The dumps are not the issue tho. It is debt they got into that is the issue. $50mil in debt sucked. Now it is almost gone, but with the price at .0001-.0003 it takes a lot of shares to get rid of the last bit of debt.
There is only one position in this stock...mercenary. Everything will be better on Tuesday.
No bid? Wrong stock. This stock just raised it's bid from .0001 to .0002.
Funny thing is... there is about a billion shares on the bid.
Funnier... someone(s) just recently spent $200k to get the bid raised. BTW, I know who it is... do you?
Funnieriest... on a regular basis, there are more buys at the ask than sells at the bid. Sure doesn't seem normal with a company that just dumped 16bil shares on the market to almost eliminate their debt. Shouldn't we be at no bid? So odd to have a bil shares at the bid. Who would do that?
Lately, the buying and selling has dropped off a bunch. Today, there were only 3mil more shares bought than sold. 18 trading days left. Welcome.
Debt reduction of over $50mil in a year and 3 months is something bashers can't grasp. I wonder, can a company do a RS and get rid of $50mil in debt? Probably not. It is why equity financing is preferred by companies. But... but... dilution. I personally would rather own 1% of a debt free company that makes a little money than 30% of a company that is so saddled with debt that it will never make any money.
Market makers are tasked with creating a market - making stocks liquid. They can do that at .0001. They can do that at no bid. There is no rule that a market maker should lose money while a convertible lender dumps their shares. To think so is asinine. In fact, MM's can trade on their own account and will often make a ton of money. If there is no value, they won't just buy your shares so they can go home and borrow money so they can buy your worthless shares tomorrow. There is value in HMBL - at least for the time being. Someone thinks something will happen for them to buy up the ask and raise the price when there is still $1.55mil in debt to convert.
You actually blamed the almost billion shares on the bid on dilution. Which is absurd. The almost billion shares on the bid is because people are betting $200k that the stock is worth more than .0002. This isn't hard to understand. I am sure you wish you could walk back your statement because it goes to your lack of credibility.
With OTC stocks that are at a very low for a while, sometimes the stock will jump in price for no apparent reason. The general theory is that someone is manipulating the stock up to get people interested and then they sell on the move upward. The person I was responding to suggested that the move from .0001-2 to .0002-3 was due to this type of manipulation and those who buy will get stuck at a higher price. The move here was weird because of no apparent move yet some real money caused the .0001 increase in price. I think over $100k worth of stock sold at the ask that day followed by an increase in the bid to keep the price from moving down.
He could be correct. However, if someone actually attempted this, the "pop" would be more like .001, not .0003. I personally welcome such a pop on no news. Here, the stock has about a 800mil on the bid currently and has gotten as high as 2 bil. So there has always been demand and that means less risk of getting caught at a manipulation move up unless it is a fairly substantial move.
If you haven't been following this stock closely, they decided that debt was substantially worse than equity financing, so they made an effort to eliminate their debt by aggressively converting their stock to pay off loans. It has killed the stock price due to the 15bil shares they dumped since they started this strategy. That is a ton of shares and pretty brutal if you were holding the whole time.
Normally such a move would cause the stock to have no bid at all and the stock should have been dead with no trades by now. But someone (besides me) is buying up shares at a pretty low price. Why? Not sure.
If you are deciding whether to play this stock, I have told my friends and family that they shouldn't unless they are just looking to gamble. I personally am here for the gamble. I personally like the gamble, but I know I could lose all my money with this stock as well as pretty much every OTC stock. I am possibly the largest single not insider share holder at this point. Not looking to get above 5% of the company, but should it dip down to .0002's at the ask, I expect to continue to buy.
Good luck.
It's always fun giving time to the homeless, lonely, and those who spend time trying aimlessly baiting hooks. Oh... and I own a few shares here too.
I love pops on the OTC. Weird thing about this one was that 600mil shares are now at the popped bid of .0002. Seems like not so much a pop.
So 400mil shares were bought and that caused the price to rise to .0003. Then a ton more were bought at .0003 because... wait for it...
Someone mentioned that a patent was approved on Ihub. Then 3 posters denied it happened and 3 posters said that patents are totally worthless. But the stock still rose. Oh... and the bashers claimed it was a pump.
The non-investors are bashing.
Anyone who knows how to read financial reports knows that the dilution has already happened with major purchases on credit. It happened as early as 4 years ago. The conversion of stock is just the final act.
At this point, we have $1.6mil in conversions left from over $50mil. The sky is falling speech is played out. Of that $1.6mil, $1.5mil isn't due until Nov or much later.
That is a really well thought out argument.
I once had a landlord that created a patent for something in a wiring harness used in all vehicles. He made quite a bit of money on that patent.
He did - sort of. Those shares are only voting shares - means he keeps control of the company while diluting the company in his move to eliminate debt. Not a monetary gain.
If you think about it, He had well over $50mil in debt 2 years ago and he has brought it to $1.6mil by paying off that debt in shares. For those who understand that debt needs to be eliminated in order to eventually get to NYSE as well as conduct business with states as a wallet supplier, he shouldn't lose control of his company for solving a problem.
Sometimes people think they are saying something of value, but in reality, they only say, "scam," and "averaging down, again?" I hoped for something a bit more concrete. You know, add to the conversation.
Wow. You should be in politics. The old, "if you don't know, I won't tell you" response. So you got nothing then.
They have revenue. Not enough to meet expenses yet, but "no revenue" is a lie.
125 billion shares????
OTCmarkets.com:
Authorized Shares
22,500,000,000
08/22/2024
Outstanding Shares
18,262,717,858
08/22/2024
pivot after pivot might mean something to you, but not to me.
The company had over $50mil in debt. They are now down to $1.6mil. Yea, never paid. Sheesh.
I firmly believe that pumping or bashing a stock that has 250mil shares on the ask and 2.5 billion shares on the bid - is futile. Right now it is all about cleaning up the debt and toxic lenders making bank. Sad news is, all the bashers are wasting their time here because they are not going to convince anyone to sell that hasn't already sold either.
Do you really think that anyone on here is trying to talk unsuspecting buyers into buying $50- 100k worth of stock so the stock could possibly move up .0001 so that anyone who bought at .0002 could sell at.... .0002? That is funny. I actually tried to eliminate the ask a couple of times. Somehow the converter kept adding to the ask. Well, today was different somehow.
Frankly, I used to tell people I knew about this stock and I don't anymore. Stopped when it went under a buck. I even bought friends $5k to $50k worth of stock so they could enjoy the benefits. All that stock is pretty much worthless. I personally am here because I want someone to let me know that Fooote put out an update that I missed. Or someone to announce that the OS increased by another billion - I actually enjoyed those posts. Or that Arivo is sharing profits with HMBL for a few years. That kind of thing. I personally don't care if you own this stock. Tho it is strange how you feel so tied to any stock that Sharp has had a part in without investing. To each his own, i guess. BTW, what makes this stock a scam?
I fully understand that. What exactly makes them a scam?
Was it that Foote took a buck a year for the last 4 years? Now sure, he brought the tech with him to start the business and deserves to get paid for that (and he did get paid a small amount - bet you didn't know that). but he ended up putting more than that into the company to keep the lights on (bet you didn't know that either).
His sister and his dad ended up lending money through a company that they owned a minority state in. That whole deal sucked, but after he got enough complaints including from your friend, the main deal fell through - they ended up removing the toxic portion of the deal and allowed HMBL to go into default without really screwing the company.
I have listened to Foote enough to realize that he genuinely believes in what he is trying to do here. I also think he is really smart, but not necessarily in matters of finance - nor just how to spend money. I will admit that I spent money on my first business that got me into a ton of hot water. He did the same thing. Too bad he didn't hire a consultant to help keep him from making stupid mistakes. Or at least take the given advice.
Now the whole Grado thing was absurd. That guy should be taken behind the bleachers and someone should kick the snot out of him. He raped the shareholders before Foote could figure out how to stop the crime.
Besides all that, why is this a scam company again?
Any chance you read the latest Q?
Interesting stuff there. For instance:
Ixaya cost HMBL $75k/month net. Getting rid of Ixaya brings the burn rate down substantially. Well under $100k/month now.
The new deal with Arivo/Moon should bring in a decent return - Not expecting anything huge, but moving in the right direction. We will need to see how that turns out.
The conversions have been brutal on olives, but Foote recently announced that the company now is down to $1.6mil in convertibles. If you look at what convertibles were reported, that indicates that all the convertibles that have already matured, are paid. With 1 exception - $80k convertible at a buck a share, which likely won't be converted any time soon, and $585k which may be waiting for a specific event to take place before converting.
Next two due are the first week in Sept for $55k and one on Oct 30th for $55k. If not paid off early.
Here is something that I found really interesting... Many of the convertible notes were paid off before their maturity date - some by 6 months. For example:
I never got a single share at .0001. I didn't say I did.
The stock is up, I am down.
I did buy 220mil at .0002 pretty recently tho.
You have posted bout averaging down, so you understand the concept.
We are up 50% today. Up 200% from Wednesday. 200% looks bad eh?
Things are looking brighter lately.
I missed that. Thanks for the heads up.
What was the news? I musta missed it.
I don't believe that is true. If somehow it is, Foote still doesn't know.
Even if you are right - which you are not, many made millions on this stock. You can't deny that simple fact.
Yea, it was really hard to make a milly on this one. The stock went up 326,000%. A small purchase made a lot of money for a lot of people. Sorry you didn't know.
I give up, how many? Would they be all the people showing up here to tell everyone that they don't own any shares, but never forget to tell us not "average down" or even buy? All for our own good mind you. If so, there are quite a few. Most are on ignore by everyone, but that never stops them.
Wow.
I wasn't watching this morning... I was fortunate in holding some options overnight and the stock is up almost 4% right now. I just noticed that there is 2bill on HMBL's bid. Wish the seller would focus on taking those out and then move on.
Potentially, but not necessarily. We already had dilution enough to jeopardize his control.
I read it when it was filed. The preferred D's are for voting purposes only... basically it guarantees that someone can't get control of the company over Foote. I would expect him to secure control - especially at these prices.
Yesterday was the anniversary for the BRU deal. On the anniversary date - August 11th, the price of the stock determined how much is currently owed to BRU.
I got some .00025s and even some .0002s when we were sitting at .0002-3 range. Just depends on whether they are trying to dump or they want the price lower.
BTW, anyone know why August 11th is an important date for HMBL? I do. Tell you on Tuesday.