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I feel sorry for anyone that donated to Jordan Darga
Guy asks for money to file a complaint. Then copies Travus Pope's lawsuit and files it AFTER the statute of limitations is up.
Now he wants to stay the other three CLASS ACTION cases Pope and Brian Tuttle filed out of their own pocket so he can be heard first. Poor guy doesnt realize he will be dismissed because he missed the statute of limitations and all he did was waste other people's money. Doesn't care either that he is jeopardizing the other two substinant cases with his drivel.
Total clown show. Anyone that donated money you should ask for it back and then some because this joker not only blew your money filing after the statute of limitations but is about to blow any chances we have at a recovery.
$30 dollar silver solves all those issues..
That's assuming fundamentals ever mattered. This was never about mining metals anyways. The play has always been to mine shares and embezzle money.
Lot of parallels to Glencore all the same suspects etc.
Good ...
We'll just carve out a smaller suit and divide up the pie. Would you rather have 100 people eating off one pie or just a few?
They are flush with cash. They can afford to pay us now.
That's not at all what the post says. It says MM set that price
Market makers have HYMCZ pinned at 10:1 per share of HYMC for whatever reason.
Glad you guys are still engaged...
What you aren't accounting for in your valuation is future dilution and other gamesmanship. Yeah the stock is trading close to cash as equity with liabilities more than covered by '750 million worth of equipment and land".
Problem is this is hedge fund ran with Sprott holding the liabilities. The hedge funds and Sprott will do what's best for them not the stock price. So the market is assuming the hedge funds will breach fiduciary duties and dilute at lower prices/ swap assets for liabilities at the expense of minority stakeholders.
The hedge funds have no respect for the stock price they only want to bet against other investors including their own.
It doesn't even matter about the strike price.
There is no sense rationalizing any concept that they make it right or change the strike price.
They did what they did so now it's time to take them to court for MONETARY DAMAGES not modifications to the strike price or even stock itself.
We had an opportunity to profit when the stock was 15$ because the strike price should have been significantly lower had they honored the antidilution/mechanical adjustments. They didn't honor the agreement so all the holders that had HYMCZ pre SPAC should be entitled to damages under tortious contract interference.
It doesn't matter.
They didn't honor the contract and tortiously interfered with our ability to profit when it was 15$ then again failed to adjust the strike price last quarter after the AMC deal.
Its too late to try to right the wrong of maliciously adjusting the strike price to 44$ the damages of lost earnings potential have already affected us. They may try but don't be distracted.
They raised a bunch of cash and we have a bunch of damages. If the company or their insurance won't cover it Mudrick is on the hook because he sponsored the SPAC while playing both sides.
The only way for them to right the ship is pay up for lost opportunity. Not in stock in this piece of .... in cash.
Hycroft is not milling sulfide commercially. Period end of story. Anyone telling you something different is spreading misinformation.
They are heap leaching whatever was left over from when they put sulfide on the leach pads to test the heap leaching of sulfide method. The tests showed it was uneconomical. No new ore is being placed on pads the next few quarters will be disasters.
They pivoted and are an "explorer". Basically looking for another story to sell stock to pay themselves back high interest rates they saddled the company with.
No...
YOU NEED A MILL TO PROCESS SULFIDE
HYCROFT DOESN'T HAVE A COMMERCIAL MILL
THE MILL THEY WOULD NEED COSTS A BILLION DOLLARS MINIMUM
Everything else is propaganda
Make sure to do your own due diligence and review the company, hedge funds that own the stock and their trading strategies.
Your bishop just got taken... You got about five moves left and they all bad.
Bill Hwang, the owner of a New York-based hedge fund that collapsed when it defaulted on margin calls, was arrested Wednesday on charges alleging he defrauded leading global investment banks and brokerages of billions of dollars. https://t.co/8XUynz364K
— The Associated Press (@AP) April 27, 2022
This board is polluted with the dumbest of the dumb money... Thanks AMC bozos..... There are 190 million shares outstanding how is the market cap that low...?
Short squeeze is outdated information and the company been lying about ownership percentages in their disclosures.
You know that's outdated information just look at the market cap.
Look a squirrel
What a trash bag company out to deceive retail..
The Z warrants exercise price is listed from March 14. Says nothing of what it is now.
Yet somehow lists SPAC freebie warrants as a liability but not the October 2020 L warrants.
Can't wait to expose these dirt bags.
I've seen those numbers before and raised a similar question noone picked up on or answered. It slipped my mind because I'd assume it would have been picked up by now.
Think one viable explanation is that the percentages includes warrants but without the fully diluted basis. In other words they messed up the math and counted the warrants without adding the subsequent dilution when factoring for the percentages. Not surprising though, these guys are either incompetent, malicious or most likely both.
The statement says explicitly that as of March 15 Mudrick and the hedge funds owned 66% of the vote.
"As of the Record Date, there were issued and outstanding 107,249,875 shares of Hycroft common stock, entitled to one vote per share. As of the Record Date, the Majority Holders owned, in the aggregate, 71,211,326 shares, or approximately 66%, of the issued and outstanding Hycroft common stock."
Since then they issued 90 million shares so even if I'm wrong that ship sailed.
That's two pronged Nick:
Yes they need make mechanical adjustments for not only the shares issued to AMC and Sprott but the warrants. Those will also potentially trigger the cheap stock factor. Additionally the ATM offering needs to be accounted for.
I anticipate they will make some adjustments from the offerings.
Now more importantly the second prong involves the "merger". Not going to go into details but they didn't honor the contract on multiple fronts. Good news is they now have a spotlight put on them and 200 million dollars to go after. Additionally, there isn't just the issue of the mechanical adjustments there are monetary damages because had the adjustments been made we would have been in the money when the stock was trading shortly after the merger.
They are probably going to get their behinds dragged to court again that's just how they play ball.
Where did you see that?
It says 60 something percent and if you are counting the old float don't forget they added 90 million shares or whatever with the ATM offering.
Think the point of the proxy vote was to issue the shares before retail had a say or force a count. I don't know which one but it seems like the SEC or the companies lawyers wanted it to be clear.
Are these "proxy votes" excuses to call in the shares?
My advice to the company would be to keep them up. Force the squeeze.
Also don't ask for retail to bailout you out in these offerings when you screwed over retail in the "merger". Namely HYMCZ holders. Make it right clean the slate so we all can move forward. Otherwise it's scorched earth time yet again.
Very interesting filing...
Anyone have any thoughts... ?
Filed a little late... wonder who is looking into this.
Looks like computer trading. They set the algo to buy.
These guys and their computers lol.
What a coincidence 12.5 million AH below market value just before they close the offering.
There has been so much insider trading from the phantom run-up to now this. 1.25 was the price which was five cents below the market price at the time.
Dollars to donuts that was to an insider either closing their "shorts" or to a Mudrick et Al/ affiliate hedge fund or quite frankly both- meaning the "shorts" were just on paper.
Will be interesting to see in discovery. It's related to z warrants because Article V so let's have a look and see if the company sold that 12.5 million. There are some other interesting trades we going to want to see.
Someone check on Reagan
12.5 million shares dumped after hours in one block.
Oh that sweet dilution. What do they have Tracey pressing the button. They couldn't of butchered this any worse than they do.
Greed mixed with incompetence what a bad combination.
Wonder how many shares the company is selling around 1.38-1.40. Anyone run the numbers on what that kind dilution does to the numbers when you add in what they missed with the merger?
The Z warrants were always the fly in the ointment for the dilution schemes. That's why they tried to get rid of them in the merger and had to be taken to court. Then they still didn't honor article V. Such an easy case when you look at the capital structure and yoga tricks they did to avoid honoring the contract. Except now they have 60 million to pay out in damages. There are opportunity costs in damages with the amount of stock and warrants under market value and to insiders that the cheap stock factor would have triggered a cashless exercise.
Revenge is going to be so sweet until they make this right. These guys are such incompetent hacks this all could of been so easily avoided.
Probably going to take a court battle.
Hopefully someone finally gets it... On Twitter they are talking about making a cryptocurrency backed by HYMC gold reserves.
Not a fan of trackable securities and deposits it seems like google spam to me. Too easily hacked.
They should just send out dividends in good old fashion bullion. Certain amount of shares is an ounce of gold. I think they owe me about 50 after dilution. This thing would go through the roof.
Make it happen captain..
No.. not when one side doesn't hold up their contractual obligations and creates damages to warrant holders.
Article V of the warrant agreement calls for certain mechanical adjustments to be made whenever stock is issued to protect warrant holders from dilution. There are multiple different triggering events which include amongst other things, adjustments to the "cheap stock factor". When the company issues shares either below market value or to a restricted person ie Mudrick or any of the hedge funds that owned hycroft when it was private.
Again these adjustments are to protect warrant holders from dilution and ensure they are entitled to their 17.5% of the company as ordered by the bankruptcy court. These anti dilution projections were ignored when Mudrick merged the private company he owned with the SPAC he was running. They purposefully ignored them because dilution is the name of the game they play.
It has got to go to court.
The company is aware of allegations that they are not in compliance with the agreement and have stated their defense is HYMCZ holders get what stockholder's get.
Guess they thought we forgot.
They still haven't honored the terms of Article V and owe us for every equity based transaction distributed to "restricted persons" and their affiliates. They missed a boatload of cheap stock factor adjustments.
17.5% is 17.5%
Once we get that dilution it changes the whole equation. Particularly because they didn't offer us a in the money cashless exercise so we have damages.
Mudrick's reputation and the history of the bankruptcy, merger and fact he they initially tried to not even assume the contract is going to come on handy.
We already know their counter argument is basically we get what stockholder's get and it's not a winning one.
Dilution...
400 million on top of a billion added to the treasury makes no sense unless they are about to finance the whole kit and kaboodle at a dollar or so. Could be a head fake so they can lend out shares to shorts and force a squeeze.
That much dilution is pretty brazen and of course Mudrick wouldn't dilute himself unless he was also in on the offering. Do they really plan on pissing off retail and setting themselves up for multiple lawsuits? They've gotten away with in the past but that was a much smaller scale.
Of course the HYMCZ warrants have always been the fly in the ointment of the hedge funds dilution schemes. Go ahead and sell 1.4 billion shares at a dollar, piss off retail and bring this full circle.
What ever happened to fidicury duty..?
Let us not interrupt the little pump n dump they got going on.
Just wait in the shadows and let the damages and dilution toll up so we have more ammunition for when it's go time.
Looks like the company is dumping shares onto the market at everything above 1.39.
Wondering how much "shorting" is going on..
Sprott is on the board now and owns Z's
He has debt, equity, and Z's..
Art of war.