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he gets away with it precisely because it is a penny stock. no one would file a lawsuit, even a class action suit, simply because it is a penny stock. not worth the time and money.
i have personally caught them lying to the shareholders. i live in augusta. sal issued a press release specifically stating they were in full production at the facility. but i videoed an empty building with NOTHING in it. i then posted the info here, and within minutes, scumbag issues a retraction with a new press release with no mention of "full production."
yup, he purchased it years ago. and he didnt pay for it. settled a lawsuit for nonpayment by giving almost $500k in stock for a piece he never used and is now selling for 50k
also, he did have management. he brought it some guy who was a punk band promoter from boston/portland maine. gave him a ton of stock which diluted everybody. then he sold the farm...literally sold the farm to this guy, the farm in union maine which i visited. it had zero crops on it last year.
but my all time favorite on this is when sal sent out a press release telling everyone they were in full production at augusta facility. i went over there and there was an electrician doing some wiring. the electrician left the bay door open, so i snuck up to the door and whipped out my cell and videoed an empty building with no equipment, no supplies, no employees, no nothing. it was a complete lie. HE LIED TO THE PUBLIC AND SHAREHOLDERS. that should have been enough for class action lawsuit on scumbag. what does sal do? he calls the cops and gets a no trespassing order issued on me. oh...he then re issued his press release with no mention of "full production."
he's a real winner
hmpq is selling equipment on craigslist.
https://maine.craigslist.org/bfs/d/augusta-cannabis-oil-extraction-machine/7286895718.html
i can tell by the photos. the blue wall in the background is the same blue wall in their augusta facility which i have personally seen.
so they buy this machine. and never use it. and never pay for it. they were sued for nonpayment. of course we all know how this was resolved. hmpq sold stock at a 45% discount in exchange for settlement of this lawsuit.
https://www.sec.gov/Archives/edgar/data/1602929/000154921217000002/hmpq-settlement_agreement.htm
i think ill pretend to be interested in machine and go take a look at facility again. the last time i saw facility, hmpq had issued a press release stating the were in full production of cbd, but i was able to record an EMPTY FACILITY WITH ZERO EQUIPMENT, ZERO WORKERS, ZERO PRODUCTION
yeah, hes the only guy i know in the universe who takes a bath in his clothes and then posts videos on youtube
someone in augusta maine is selling cbd equipment on craiglist. i give ya all one guess on what company is selling the equipment
https://maine.craigslist.org/bfs/d/augusta-cannabis-oil-extraction-machine/7286895718.html
this scam is still running? this has to be the longest running otc scam ever. now healthcare and crypto mining. what happened to beverages? what happened to cbd? SCAM
If you are writing off the books, 100% of the value is no longer on the books!!!!!!!!
A write off involves removing all traces of the fixed asset from the balance sheet, so that the related fixed asset account and accumulated depreciation account are reduced
THATS WHAT IM SAYING!!!!!!!!!!!!!!!!!
your damn words!!!!!!!!!
Writing it off the books. YOUR DAMN WORDS!!!!!!!
Really, you wanna go there
"A write-off is a reduction of the recognized value of something. In accounting, this is a recognition of the reduced or zero value of an asset. In income tax statements, this is a reduction of taxable income, as a recognition of certain expenses required to produce the income."
ITS A FREAKING REDUCTION!!!!
A freaking tax write off!!!!
NOTHING TO DO DISPOSAL!!!!!!!!!!!!
I know accounting.
Im saying the same darn thing youre saying
100% written off. I didnt say disposed
100% written off against purchase price, which is accumulated depreciation
If they dispose it and receive some minimal payment, such as recycling or whatever, then they make an adjustment
100% written off, is a tax term, look it up. Nothing to do with disposal. Hell, even irs will let you write off 100% of equipment in first year of ownership. Nothing to do with disposal
Ive seen it. And i see machines in background. And i would say thats more than a "few" pieces of machinery and tools.
But those are their words. Hi alloy only has a few machines and tools in their words
It doesnt reconcile
Fully expensed ABSOLUTELY MEANS 100% WRITTEN OFF.
this is GAAP. Items fully expensed are 100% depreciated
Thats not the point im attempting to make.
Hi alloy has/had few assets, thats according to what is said in quarterly
A few pieces doesnt make a machine shop
Do you not understand "fully expensed?" It means zero value, 100% written off, but that is for office equipment, not for the machinery
First line, they invested 5 million in machine shop
Next line, we only have a few pieces of machinery.
do YOU know the cost? If you are gonna ask me if i do then i guess you do, so whats the cost?
Page 19, its underlined "the only assets..." so they are making the point hialloy has few assets such as a few machines.
Direct quote hialloy website
"We have over 5 million dollars invested in our precision machine shop."
Direct quote quarterly p 19
"Hi-Alloy's only assets are some fully-expensed furniture and computers, valve inventory and a few pieces of shop
equipment and tools."
Direct quote p. 18 quarterly
"for 100% interest of Hi-Alloy Valve from its Members. The 960,000 shares of the Company’s Series B preferred stock were valued at $1,920,000"
Somebody reconcile these 3 direct quotes
Mvnt was already assigned to a company, to make it more confusing
Sure, 96 million new shares is just peachy
BUT THAT IS NOT WHAT THEY SAID THEY WERE DOING. THEY SAID THEY WERE SELLING SERIES B TO FAMILY AND FRIENDS AND INVESTORS BUT TOOK ALMOST ALL OF IT FOR THEMSELVES.
so dont go telling me they delivered on all their promises. They didnt, regardless of motivation or reason.
Hi-Alloy's only assets are some fully-expensed furniture and computers, valve inventory and a few pieces of shop
equipment and tools.
Page 19!!! Read it for yourself
ZERO ASSETS. for this the owners gave them 960k series A shares
Really?
Series A was to be sold, half to friends and family at .02, half to investors at .05. Instead they issue almost all of it to themselves which will convert into 96 million new shares.
8 months in, still listed as a shell.
8 months in, not one peep as to amount of assets, liabilities, revenues, and so on
Oh, by the way, all those series A shares was for the purchase of hi alloy, which had ZERO ASSETS. So $1.8 million they paid themselves for a company with ZERO assets, who knows what in liabilities as nothing has been told to us
Stock traded 3 times higher as a shell. And today was 1st day in months, months this stock has had any traction whatsoever.
And maybe by the end of the month we finally get details. I bet we learn they are operating at a loss. They would have mentioned it by now if they are profitable. Hopefully, im wrong
So, tell me how you did your dd when there is no financial data whatsoever? What does your dd say say about how much money they are making, or even if they are profitable?
And im sure your dd revealed hi alloy has zero assets, right?
It has nothing to do with volume.
If there are only 50 people interested in this stock, what are we gonna do, sell the stock back and forth to each other?
There is ZERO demand for this stock outside a small group of people
No buying. No selling. No volume. None of this until DEMAND increases
And demand wont do anything until these vshc buttholes provide financial data.
8 months and they have yet to tell us if they are profitable. They have yet to tell the basics, such as amount of assets, liabilities, revenues, and so on.
We arent investing. By buying vshc stock, WE ARE GAMBLING, NOT INVESTING
Gambling doesnt increase demand. Who wants to gamble?
Only took 8 months
Its not just commissions. Its zero commission, more data and research available, the ability to trade options, margin, investment demand from institutional investors.
zero commissions was the final push for me. And i really feel others see it the same way.
I trade no more than 10 shares at a time now. Its a huge benefit to be able to dollar cost average.
And commissions for me were 6.95 at td ameritrade
Jeeze, only 2 trades in vshc today, 26k volume, AND there was a vshc tweet
Just personal observation and opinion
2 trades today. Thats it. TWO. 26k volume.
Ugly.
You know why its quiet in otc? Zero commissions, that's why. Why trade otc and pay commissions? now that commissions are gone, its much better to trade exchange traded stocks one or two stocks at a time.
Mark my words, zero commissions will permanently drive down otc volume.
As for vshc, they provide zero info, zero incentive to follow and be excited.
Im slowly getting out of vshc. This is my last otc stock ever.
Not that anyone really wishes to know what im up to ;)
Imo
They have real products
There is a real and growing demand for these products
They have experience in this industry
I personally feel they mase stupid mistake by building stores in basically the same markets of their old stores. In other words, they are competing against stores they owned, instead of opening in virgin territory.
I feel kiosks are a better strategy than opening new stores. They should have chosen this strategy in the first place, and generate revenue thru referrals until they can slowly open stores.
I do NOT understand why no inventory on walmart
I feel this 10MM is a double edged sword. They do now have resources to move forward, but it absolutely crushes existing holders.
I feel they made tremendous, unforced mistake by talking about "rebuilding" in tweets. I dont get it. That is not encouraging when ceo talks about rebuilding.
I have made money on this stock. I tripled my investment and have been stting on sidelines for a long while. I constantly keep up with this stock and do feel theres is money to be made. I feel, imo, anyone in it might as well stay in it now. Personally, i keep watching as i feel it goes lower. Im looking at .005. One thing no one talks about that im assuming is still in play is FDA approval for the laser treatment.
I dont think innd is a lost cause. They made many mistakes, imo, and stock is greatly suffering. But there is hope
Good luck to all. Lots of angry people here. Understandable
No stock would ever be down 150%.
A 100% decline is a stock with a price of zero.
Stock is down 60%, give or take, from its high
And thats not good at all. It was worth more as a shell. Almost 300% more
No, i dont know alot.
As i see it.
1 dump now for minimal loss
2 hold it and hope for recovery
3 wait awhile and buy more at a much lower price
4 sell now and take the loss, but buy back later if you feel it will continue to decline. Personally, i see this going to .005 easily due to dilution. You could sell now, wait until then and then basically double the number of shares you would own.
5. Sell half, hold half, and rebuy the other half later.
Im in this boat with another stock. My personal decision on the other stock is to just hold and wait. I dont need the invested money anytime soon. I happen to believe in that particular company so i wait
But, general consensus if you ask anyone, it is not a good idea to hold penny stock for a long period of time. Be prepared to lose it all
I honestly feel it goes lower to at least .005
Please dont trade on my advice. I suck at advice
BUT, if you read matts tweets, he his talking about "rebuilding." To me, this speaks volumes
Good luck
You can ask matt all you want. There is a delisting period for EVERY STOCK.
As i stated if price stays below .01 for 30 consecutive days, a 90 grace period kicks in
If for any 120 consecutive days a stock price remains below .01 it will be delisted fron otcqb, that includes innd
If at anytime, the BID hits .01 during the 120 days, the clock resets. It only takes 1 bid of .01 within a 120 day period to prevent delisting
Good question.
The 10MM equity financing deal is good for 2 years and for up to 9.9 percent ownership of innd.
No delisting yet.
Price must remain below .01 for 30 consecutive days.
After 30 days, a company receives a 90 day grace period.
So, price has to stay below .01 for 120 days
Thats the good news. Bad news is that dilution will continue to push price lower.
Shares are cheap because they are diluting. And the dilution makes the shares even cheaper tomorrow.
Its like crack. It takes and ever increasing amount of new shares to equal the funds they received for the last issuance.
So yeah, they have more to lose
Interesting tweets. They are talking about "rebuilding." Actual word used in tweet. Not encouraging when mgmt talks about rebuilding
I think hes a nice guy, maybe over his head, but a nice guy
No overreaction. New shares filtering into market from that 10MM equity financing deal
Any good is offset by the 10MM equity financing deal. 10MM could triple outstanding shares
There she goes. Otcqb delisting soon
Heres new sec rule in its entirety
https://www.sec.gov/rules/proposed/2019/34-87115.pdf
Feel free to read all 228 pages
Yes, it requires them to stop trading if they arent current. These rules apply to 15c2-11
Heres one citation:
https://www.lexology.com/library/detail.aspx?g=b5131b15-d393-48b2-adc2-206a2bd27566
Read rule in its entirety:
https://www.sec.gov/rules/proposed/2019/34-87115.pdf
Bottom of page 14 states noncurrent stocks cannot be quoted