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I own 16,000 shares of PHUN through Fineqia.
I own these shares indirectly through my 2M-share position on Fineqia which is only cost me 1 cent *at this time*.
I could choose to buy another 1,000 shares in premarket right now of PHUN for $10,000. But for the same money, I could buy fractional ownership of 16,000 shares of PHUN by buying 1M shares of Fineqia.
But that's not all! Fineqia also owns 16,000 warrants, with the right to buy at a much lower price than the exercise price of the publicly traded PHUNW warrants. This is a fact. And, that's not all! Fineqia also owns rights to PHUNCoin. All that for 1 cent.
Why pay $10 for one common here when I could have fractional ownership of the common, better warrants, and phuncoin for a penny?
Well, because it's a penny stock you might say. However, their team actually has more experience than this great experience at PHUN. Their Chairman, in fact, is Chairman of the Oracle Group. Their CEO is also the founder and CEO of Premfina, an established distrupter in the insurance industry. You can look at them up.
It turns out that Fineqia ALSO has investments in PremFina. And they also have investments in Nivaura. You can google all these names and be amazed. So you get PHUN and all these other bonuses for a fraction of the cost of PHUN.
PHUN is on the Nasdaq, but it seems like in some ways the CSE has more credibility in this case with all the deregulation surrounding SPAC's. For one, the CSE requires all companies maintain minimum capital requirements. It's not so easy to be on the CSE, yet that's where Fineqia has been approved to trade. It's also been much less volatile; albeit at ground zero. But that means no place to fall and only upside.
MY VERY RELEVANT QUESTION:
Will Fineqia be 2 cents before PHUN is $20? And does it matter which one gets there first, even though it seems more likely that Fineqia would? Because with Fineqia, you get PHUN and much more. With PHUN you just get PHUN. At a premium price.
Well, that's just me. I do have this knack for truth. I know it's offensive to some, but it's a serious question. It's an alternative way to invest in PHUN.
]
On 2-15-19, I put this post on Notice:
https://investorshub.advfn.com/secure/post_reply.aspx?message_id=146587085
Perhaps. But the CFO's fiduciary duty puts PHUN above PHUNW. I don't think the cards will fall that way.
I think anyone with PHUNW would be better off selling and buying 6 times the amount of Fineqia, much more stable at .015, a market cap equal to their warrants plus common of PHUN, plus get free rights to phun coins. And as a bonus, a startup and investments in Black Insure and Nivaura, all emerging high-growth startups and a dream team mgmt. team.
But that's just me. We'll see how the cards fall. The truth will come out in the shake. We will revisit this in retrospect.
Almost 2 months to the day, a lot has happened. Buyers of PHUNW were indeed better off. That verdict has been delivered and ruled on. Truth prevailed. Even though in an ironic twist I made $11,000 in profits off PHUNW by buying it when it went lower, then getting spooked by the silence -- coming back to those quiet ones.
While Fineqia hasn't had its day yet, it was the better investment. But my 2M shares there are still a position in PHUN as they have about 16,000 shares of PHUN according to my caclulations and an equal amount of warrants at a much lower exercise price than the publicly traded warrants. They must be mad at how their investment turned out. Yet, that's still a valuation of $128,000, excluding their warrants. And they also have right to PHUNcoin on top of that. So, to say I have no stake in PHUN would be a false statement. I'm actually vested in their success. I just have insider privaledges by investing in a backdoor method by going through Fineqia.
However, Nivaura just got a 20M funding deal. That's another investment I have through Fineqia. and Fineqia is the only stock of my 4 listed on my profile that hasn't delivered a verdict yet. It would be wise not to underestimate my ability to hit all 4 of these balls out of the ballpark.
As an Aggie once told me, their football team never lost a game. They were only outscored because they ran out of time. LOL. Yes, well, the clock is still ticking, and we are going to come back in retrospect and look at this further. And see what further conclusions we can draw from this post I made only 2 months ago.
If this much truth came out in just 2 months, imagine how much truth will be disclosd in 2 years from now? Like the Jesus story, I'll be a dead man walking. Truth is repugnant, after all. ;)
Interesting Layoffs at PHUN.
You are right, Candeloro. That reminds me of what Buffett said in an interview to some criticism. He said, why should people care if I agree with them or not? If I don't agree, it shouldn't matter at all. If the company is good, it doesn't matter what I say.
I personally do think PHUN is good. I just don't like good stories with good attitudes. My profile at Seeking Alpha says, "If you aren't on fire, you're not my desire." That is a true statement. I need anger, misplaced anger, and real fires.
PHUN's layoffs are starting to smell like smoke from a fire. But the crowds are rushing into the theater, not a stampede to get out. Well, actually in this case a stamped to get out, but now a rush to get back in. So, we have psychological problems going on. Which is good, as this vulture is circling its prey above, waiting for opportunity.
https://www.americaninno.com/austin/inno-news/phunware-announces-15-layoffs/
PHUN announces 15% Layoffs
Holy Smokes! I love layoffs, which is why I bought another 1000 shares of Luby's stock yesterday to bring my position up to 8,000 shares in a $1.50 stock. It's a "dying cafeteria" restaurant model in Texas. The leader of the dinosaurs. Also owns Fuddruckers. I like it because it's retrenching, layoffs, selling off its company owned real estate. BUT unlike here, the market hates it, fears it, shuns it, and they don't talk, and their CEO's salary is $1.00 per year (with skin in the game of 33% stock). $1.00 per year until he turns the situation around. And he goes down with the ship, or he makes me money.
I'm not seeing that here. I'm seeing information cherry picked by a company pulling in a nice salary, completely unconcerned if I get burned or not. Case in point: No disclosure around the structural defect of the bridge they were talling me about - ie, the cashless exchange of the warrants. Because the bridge collapsed, the sociopathic view was that I should have been aware of the risks. No remorse, just more cherry picking. I made a profit, but I do feel remorse for those that didn't. And that's a key difference between me and sociopathic behavior.
And now there are layoffs. When you have layoffs, I want to see depression like at Luby's. I love depression! I want to see talk of bankruptcy. Like at Luby's, I'm buying irrational depression. Here, I have to buy irrational exhuberance. And irrational exuberance is expensive. I like cheap.
I predict Luby's will be $3.00, a 100% return, before PHUN will see $16.00, a 100% return.
That being said, I do want PHUN at $2.00. I would not want Luby's at $8.00. At least, not at this time. In the future, I *might* want PHUN at $8 and I might want Luby's at $8. But for now, as the cards are laid down on the table, I want neither at $8.
What I'm seeing here is a looking past the layoffs. A brushing it under the carpet reaction. Pretend it's not there. Rationalize it. Don't look there! Look at this instead!
And I especially have trust issues with PHUN. I have NO trust issues with Chris Pappas, the $1.00 per year CEO of Luby's. No trust issues whatever there. He doesn't talk, and he doesn't cherry pick. And if there was a structural defect on a bridge he encouraged me to cross, I know he would have my back and tell me about it.
AND DON'T FORGET ABOUT THE QUIET ONES.
It's always the quiet ones. Before this bridge collapsed, it was real quiet. Which spooked me. I said, on the record here, in fact, that it sure is quiet around here. It worry about the quiet ones. Here, the chatter is running rampant. Retail investors foaming at the mouth. That's easy pickings. The loudest ones in the room are the weakest ones in the room.
Circling the prey! And they look delicious! And defenseless!
Thank you, Phun. Sadly, your investor base here lacks etiquette and humility. Not the investor base you want for stability.
For a sobering look of what really happened this week, Motley has some good commentary on the subject matter here. Very succinct, which is how truth generally reads.
https://www.nasdaq.com/article/how-phunwares-shares-doubled-in-two-days-cm1128507
Notice the words "retail investors" and not short squeeze. Translation: Amateur hour. 49ers. After all, shorts had a feast. The only ones that got the rears handed to them on a silver platter were longs.
The author concludes: "As random walks down Wall Street go, I'd rather not touch this one until the company starts reporting some worthwhile business results. So far, the wild swings have been built on speculation."
Let's keep this in perspective. When I say it's time to go long and strong, that's the time to go long and strong. A price entrance based on fundamentals and a no-brainer to glory. Buy low, and hold strong. Anybody here that tells you they are "long and strong" have a 99% chance likelihood of being gone within 2 weeks, on to the next pie-in-the-sky promises.
If I say I'm long and strong, you can bank on it. All these other Yahoos, forget it. A lot of dust needs to settle.
PHUN, if may ask a third time: Surely you can answer. What is the purpose of having a cashless exchange stipulated in warrants? Do you know the answer? I know this is not unique to PHUN. Maybe your CFO would like to comment? I'm still angry at this matter of unnecessary dilution that I believe happened. And I still have trust issues. What is the problem with full disclosure? Are there any other landmines in fine print that shareholders should be aware of? I personally think it would be going the extra mile to point out any hazards in the fine print to your team. To the ones you serve.
So Much Excitement; So Little Return
I've never seen my business partner so happy before. Going from $300 to $5 to $8. And this is outstanding performance he's proud of.
Well, don't look at me! I didn't train him.
5 cents to 8 cents is the same return as $5, $8, if anyone is interested. It's not a big deal. The warrants are still saying the same things they said since day 1. Whether it's $300, $5, or $8, the warrants don't care!
If you were to have a little patience, you could get a deal at $2. I'll show you how that's done this Summer.
In the meantime, look at what we have here. 30M shares, 30M in sales, dilution for no reason, and high volatility for an expensive market cap of $240M. That's not where value investors congregate. In fact, if you want my money, you need to be kissing my royal #$#! Which I'm not seeing.
In comparison, in Austin where PHUN is from, there is a small cafeteria chain called LUBY's with $300M in sales and the same OS almost. And it's shrinking but will be profitable before PHUN as I see it. Do you want $300M in revenue for $45M or do you want $30M in reveue for $300M? It's like a flip flopped position.
The exact opposite, and look at what my business partner is fawning over? Unbelievable!
That's why we are great team! Your money, my bank account.
Behavioral Problems
What I'm looking at here are a bunch of monikers coming out of the woodwork. One saying "Etrade blocking orders." No clue as to what I said. Absolutely no clue that it's been like that from day one or why.
This is behavior is OUTRAGEOUS! Reminds me of the 49ers in a gold rush. Or at a gas station during a gas shortage. Everybody out for themselves, trying to cut in line. Price gouging! No riot control
I am disgusted at this behavior! Warrants saying the same thing, practically. All this volume, barely moving the needle. To you guys, this is probably great returns. For me, it's okay. For gamblers, probably pretty decent.
I'm just not seeing the value here. $2.00 is a great price. You need to bargain hunt. What I see is a bunch herd mentality here. Everyone trying to jump on board, trying to out-do the other guy, trying to get there first. Despicable. Just despicable behavior. Always a rush to the exits. Someone says fire in a crowded theater, and we get the same ole, same ole. That's why I like to remove myself from the group think.
Calm down, guys! Breathe! The company isn't going anywhere. In fact, it just experienced a heavy dilution as I understand it. That means more mass, which means more gravity, which means you don't get to jump as high. You aren't on the moon anymore.
Seeing as we have a bunch of amnesiacs around here, I'm going to announce the date of my SURPRISE attack: July 4th weekend! Be there at $2.00 and assume the position.
I'll be back!
Err, I'm not too keen on how you are fanning the flames on this irrational exuberance, PHUN. Can you answer MY question too, please?
What is the purpose of the cashless exchange stipulations in warrants? Why create landmines to avoid for no reason? I'm sure there is a logical reason, but I'd like to know what it is.
Microsoft's Accelerator is not unique PHUN. It's also involved with Fineqia, shown here, which is what brought me to PHUN
https://www.prnewswire.com/news-releases/ceo-of-microsoft-accelerator-london-warwick-hill-joins-fineqias-advisory-board-619034004.html
Would you agree with the prognosis that PHUN missed out on a year's worth of revenue because of the cashless exchange, thereby being diluted for absolutely no good reason AND missing out on a year's worth of revenue?
I'm very worried about what other perils I need to dodge if I join the PHUN team again. I don't want to read over the scematics of civil engineers every time I come to a bridge to avoid any structural defects. Just some straight shooting. Not friendly fire, but straight shooting. As in, shoot the enemies and not your shareholders -- straight shooting in the right direction.
I want a good price come July 4th. My friends here, already showing signs of early alzheimers, as I said would happen, are going to waking up with Amnesia again. The mood swings are dramatic.
I don't want to miss any party over $11.50, so IFF there are more landmines that I need to be aware of, can you please disclose that this time?
I was looking for affiliations to the stock on my profile, TOGL, with time-stamped corroboration.
As noticed I this post back in November of last year, referencing this stock:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=145100936
I was looking for any cross-pollination I could find between two lawyers, which I didn't find. But the firm Lawler and Associates, or whatever they were are involved in TOGL, but another lawyer ivolved with FPWM. The two only cross-pollinated in TOGL> But I was looking for things the Lawler firm may be involved with, and that's how this came on my radar. They list securities they are involved with at OTC.
There are others, but this one was filing and had great "physics" at the time. A very low share count. After the dividend that changed. But I could see from the filings that they were trying to acquire B Beverages, which they now have completed. Their plans were all laid out.
It was very hard to get shares back then. Now it's easy. So, that's how it popped on my radar.
I hope the outdated diesel submarines that you are looking for, as you send depth charges out to the whales that are lighting up your false indicators, surface and torpedo the naval fleet of McHale's navy and send them to the ocean floor.
As a bottom feeder, I eagerly await your arrival. I'm at depths, btw, where your vessels will never be able to handle the pressures. Nor can your bombing raids reach me. I am what they call an untouchable. Not to be confused with the cannon fodder above. My depths will send your crew packing, and Army Rangers crying.
$2.00, and we turn the tables and start attaching beached whales. Till then, happy hunting.
Hi, Laslo. was noticing that yesterday. The bids were huge, the ask small. That's always good. I don't know what's in the cards, but I know our interests are aligned at this time.
I don't have a huge position. I have only 4,100 shares. About 1/4 of those were free shares given to me in an unexpected dividend. It was real hard to get shares before. Now it's very liquid if you want buy at the ask. Big demand on the bid and nobody wants to give them much. Yet, volume was high so some person(s) have been buying. I like it. I'm already at a profit.
The dividend was very hush hush. As if insiders wanted NOBODY to know about it. It was only released in filings AFTER the fact. To me, that's bullish. I was just a recipient of circumstance. At the right place at the right time. If they don't want you to know something good, that's gotta to be a good thing in my eyes. In fact, I didn't even notice it. I was like, what are they talking about? What dividend? I never got a dividend? Where? Ohhhh, there it is. Well, isn't that interesting. Shares at no cost basis. Well, that was a first. They just popped into existence from nowhere. My position is so small that I didn't notice any change.
I posted the business plan for this year, which is to raise capital and marketing and so forth. To me, I'm just here for the show. If I see $2, I'll take my $8,000 and be happy. Not big money but big returns if the cards fall that way. They are quiet at this time, so that's bullish to me. Seems like they are preparing themselves to start making some noise. Although, I may leave 100 shares out there just to have something at all times. Lets me keep an eye on things easily, you never know...
Just what the Doctor Ordered:
Prescription:
When people see this back over $10 in a few days, they will be hollering at themselves.... WHAT WAS I THINKING????
Curriculum Vitae:
Yesterday:
Indeed so glad someone else understands that tomorrow will be short squeeze day!
Today:
The SHORT SQUEEZE is on!!! Look at that VOLUME coming in!
The Cure: 100% return at $10
---------------------------------------------------------
I would now like to propose an alternative method. A more natural holistic approach.
Your prescription filled at $5.00 to doctor specs.
Sell to me at $2.
I sell 80% at $4 for 100% return, we meet back here with my free shares at $5.00. And if we go to $10, Hallelujah!
When I come in you’ll know who I am. I’ll be the
One walking on backwards so I can watch my back.
Now I have to worry about what other perils may be
Lurking. As I said I didn’t know you had to be Indiana
Jones to invest here. I cross a bridge and it collapses
Just as I have one foot on the other side barely
Escaping death. What else is in the fine print that
This company wants me to discover the hard way ?
I thought rangers held meetings before parachuting into
Enemy territory so they can habe each other’s backs.
You know to over a schedule make sure your buddy
Crew knows what perils to expect. I didn’t know you
Had to worry about friendly fire here too
No I need to walk in backward at $2. There has been a
Breach of trust. I need to play
This smart. I want the tides to go down and reveal
What else may be lurking on these murky waters
I’m scared now. I passed test one and got my
Gold. I shouldn’t quit while I’m ahead. .
In fact this is all deja vu. This reminds me of my hs
Swim team hear said come on in the water is not cold.
As soon as I jumped in they jumped out. That water was
Ice cold. No more trust. I have trust issues now after
That fiasco. What other fine print do I need to be aware
Of?
I
The underlying business is nice. That’s why I want i
But the stock is not the business. Price matters
Patents are good. Blackberry has a portfolio of 21000
Patents . They have partly become a patent troll
Which is great. That’s why I love blackberry
As one of my contrarian investments. Those patents
Didn’t save their fall from grace. For the same
Reason I bought them at 6.80 is why I want this
For 2. You are too optimistic.
Everybody needs to tell me I’m a fool to buy before
I have confidence. If you are telling me this is a
Smart thing to do you are making me nervous.
My business partner and I are not on the same page
Err, I'm just not seeing it. Right now, this "short squeeze" is in a downfall.
This is a perfect example of what I was trying to explain before. The rules of Thanksgiving Dinners don't apply here. Argumentum ad populum, the populous fallacy at the dinner table, doesn't apply here. Truth prevails here.
Long term, voting machine; short term, weighing machine. You can vote to put a stamp on a text book calling evolution a "theory," but you can't fool sound epistemology. There is no competing theory in that textbook for a reason.
Now, as I said before, I'm just not seeing a short squeeze in the cards. I see dilution in a cashless exchange for not particularly good reason. I still want my relevant question answered. Which I'd love for PHUN to explain becauase I honestly don't know the anwer:
What is the purpose of these cashless exchange options for int he first place? What relevance to they have to begin with? Why have a clause that can do nothing but damage a company if it does't meet a deadline? Which in this caes, even if there wasn't a got. shut down, seems like a challenge to meet. Why? That's all I want to know. I'm sure there is a good reason, I just don't know what it is.
If this is your example of a massive "short squeeze" based on volume, this is a disaster. That means nobody is buying but shorts covering, according to your interpretation. Which, I reject as there are many possible other interpretations for the same observable evidence.
What exactly are these whales supposed to be afraid of if this is the the counter-attack?
How about putting up some fundamentals that would scare the bejeezus out of them? Which, at $2.00, would start to look scary because from my vantage point, Rangers suddenly take the high ground. But right now, this isn't the 300M plateau they are on. They are down in a valley, and shorts are up high shooting fish in a barrel. That's what I'm seeing. And I don't like it. I don't like it all.
I want to invest when Rangers attack a beached whale. That's the kind of returns I want to see, and that's where I like to do battle. Low hurdles, not high hurdles.
That exactly what the Austin Journal said because that's exactly what happened. The "IPO" so to speak was valued as the shares * the price. That's what the valuation means.
So, it opened up at $300M plus and shot up to a few billion. That means absolutely nothing. That's just an observation. It doesn't tell you what the value is. It doesn't even claim to purport what the value is. It's saying what the price was when it went public. Nothing more. You are reading into things that are not there. Which seems par for the course, as we see you reading into Reg Sho lists, etc., which have more than one interpretation.
You have to pay attention to precisely what is being said. What is not beign said, and what things mean! And look at the evidence in its totality!
I'm not seeing a Short Squeeze.
This feels more like McHale's Navy launching an assault on Iran's Diesel Fueled Submarines, and picking up lots of false signals on their radars. Despite the loud signature these diesel vessels can emit. I think they found a school of comfortable whales instead.
Oh well. So much for that diagnosis. I hope our Rangers can do a better job once they get the high ground. Which from my perspective would be at $2.00. That's my target and I'm sticking to it. July 4th weekend, a good opportunity for my surprise attack. When McHale's navy is on vacation!
I Want to be like Mike!
It's a funny phrase, but this amazing coincidence has always bothered me. In this post I'm responding to, I said, "I think this post I'm responding to is a false lead. I think the car is an amazing coincidence, as well as some matching furniture. I can't verify an address match. I can't definitely link the two. I think there might be 2 Mike Z's living in the same city. I don't think it's a double life. Too many juggling acts."
I can't find a picture or age or some other identifiers to rule out 2 Mike Z's. Mike is common. But the Z -- such an odd name. And in the same small city? I never could rule out a double. IFFFFF a double, is it really a coincidence? Or something else.
I don't want to throw out any of my other theories without hard evidence.
Most of the things I say are very positive about PHUN. I speak the truth as I see it. The good, the bad, and the ugly. I don't cherry pick.
I think in this case that the company would have received at least as much money from exercised warrants as they got from the dilution in this case. The collapse would have happened during a real exercise instead of this cashless exercise. We would probably still be trading at $40.00 right now or higher on a low float. So exercise time, what we have in dilutoin now would have turned into cash starting at $40.00 down to $11.50. Or maybe it would have maintained at $16.00 or so since investors could see an influx of cash coming in, strenghtening the balance sheet.
I want to go long at $2.00 and below. I find this dilution insulting. As an investor, I find it very distasteful. If the comopany had $300 million in sales, I'd could look past all of this at this price. And it may have that one day, maybe by 2023. But right now, it doesn't, and right now, I'm just giving you my honest opinions. You should cherish my honesty. If I were a company rep, I wouldn't be able to give you the good, the bad, and the ugly. I'd only be able to tell you the good. Which is good, but it's not the full picture and it doesn't help me, as an investor. I want to make money, and I don't want to be blindsided. Now I have trust issues as this was kept a secret. A hush hush kind a thing, in the legalese. I would have appreciated this ugly disclosure as I was buying my 10,000 warrant, which I luckily profited from. I guess it's good I didn't see that bad structural defect, so ignorance is bliss! Sometimes, confidence and bliss are profitable! I might have fallen off that bridge if I was nervous. I'm scared of heights, which is why I probably would have made a better Navy Seal than an Air Force Ranger. LOL
Good answer. Thank you.
Over and out.
I'm not short so there is nothing to cover. I'm not making a prediction. I'm just saying I don't think PHUN has been punished enough. A year's revenue gone for no reason. And the dilution on top of that.
I don't even know why this stipulation is put into a warrant contract. Why did Stellar and other SPACs even have this clause, Candelero? What is the point? It has potential to do nothing but harm the company. Which in this case, it did.
I figure, maybe it's there as a disciplinarian to make the company fulfill its promise? But even without the govt. shutdown, this back and forth with the SEC is going on for a long time. It seems like a hard window of time to meet with so much potential pushback if it isn't met. Why??
Perhaps so, EG. I wonder if there was a Q&A. The questions had to be submitted in advance. I do appreciate it. It may even go up on the HLIX website later in Investors Relations. Who knows. It doesn't change anything. Just always good reading. Just fun, is all. :)
I'm such a good judge of character. Thank you, Candeloro.
Yes, a year's revenue gone for absolutely no good reason at all is a disaster. Completely unnecessary dilution, no matter how you spin it, is a wasteful dilution. No reason! Who benefited? Not investors or the company. Punishment should be in order. The market should punish PHUN. And I'm talking about a back to the woodshed moment at $2.00 or below.
But, at least I learned something here and I got something out of it.
The lack of full disclosure around that pivotal point of dilution for absolutely no reason is just disheartening. It's in the fine print of the legalese, but I don't consider that disclosure. That's like having an unstructurally sound bridge and blaming motorists that were victims of its collapse that they should have read the fine print.
Thanks for all the input, Candeloro. I appreciate you.
Your figure might be correct. I don't know. I have this gut feeling that Condelero could give you a good estimate.
I think, however, your "90% drop in price" is assuming that the price was efficient to begin with. But it was very volatile and thinly traded. Only now has price discovery truly been allowed to happen in my opnion. But now the warrants are still saying it should be $10.00 or so. So, who is right? Mr. Common or Mr. Warrant? Mr. Warrant was more right before. But he was saying things like .20 before too with no dilution. So, he doesn't seem credible either.
I'm just looking at the fully diluted p/s BEFORE the cashless exchange, which is worse than it is now. Not worse, but more dilution. But it was actually better because it would have been arguably accretive at today's price had there been cash. Assuming I'm working with the correct facts. So, I'm just being cheap with $2.00, and I want extreme value. At least, I think that's cheap. I hope that's cheap. I like discounts. I don't like retail prices.
I think anything is justified, and I do believe $50.00 was never justified. I think $20.00 was high-end justified before this dilution that I believe happened.
I think a lot of fog and dust needs to settle. I don't think we will have a real clear picture until next year. I just know what's right for me and what my price is according to my understanding of the facts that are present to me at this time.. It may or may not come to me. And that's okay if it doesn't as I'm happy and content with what I already have.
That being said, in 2023, PHUN may be the next Amazon. I don't know. In which case, I should be buying and taking out a home loan to buy more! But, I don't have crystal ball.
Cordello's article explains it all.
No new warrants.
There is so much confusion around this SPAC, which makes me ask the real question: How did deregulation help the markets here? Who did deregulation help? From my perspective, it helped nobody but me, shorts, and those that took advantage of the cashless exchange loophole. That's how I see it.
It seems to me insiders lost, investors lost. It ultimately all comes back to that STUPID border wall and a stupid election promise. That caused the shutdown when, in fact, there was an agreement in December that our President backed out of when Rush Limbaugh, Anne Coultier, and other wingnuts started calling him "weak" for negotiating with his own party.
That's ultimately what it all comes down to. Which his idiocy at its finest hour. And all this fallout, confusion, and questions. For what? I don't know. That's a question only Rush Limbaugh can answer.
Reminds me of the great wall of China. Don't know who that's keeping out. It's not keeping out the Rangers. They can just parachute in. There was a time when castle walls made sense. Just as walls in private neighborhoods make sense now. But they aren't going to keep Rangers out or anyone that really wants in.
Comprehensive Immigration Reform. It wasn't that difficult to understand before this President, and it's not difficult to understand now.
Fair enough, Phun.
I hope you don't mind my ongoing negotiations with Mr. Market, however. I love your company, but I'm not paying this son of a #$#@ a fair price. $2.00. That's not a reflection on you, that's a counter-maneuver to my business partner's psychological problems.
I don't like this dilution I've delivered a verdict on, but as Pablo Escobar once said, wherein lies disaster lies opportunity. Well, it wasn't really Pablo, but it was of his enemies whose name escapes me at the moment. Paraphrased. ;)
I do like this price. I like $2.00 even better. I still can't buy through Etrade directly. I need to call them; otherwise, I'd buy a 100 shares right now and average down thereafter if opportunity presents itself. I don't know how these guys are doing it, but Etrade lets me do anything. Anything but buy PHUN, that is. I'm gradfathered in and can do many things newbies are not allowed to do. But $2.00 will initiate a phone call and a thousand shares to start. Which is nice as my original purchase was 1,000 warrants for $11.50 which bumped up to 2,000 and then 10,000. But I like a permanent exercise of $2.00 even better. Below all warrants and short's best expectations.
I don't like accredited investors getting better deals than me either. I should have the best deal of anyone. Nobody, and I mean NOBODY should have a better price than me. Everybody needs be mad and phurious in alignment with my interests. And we can go scalp some short later.
Thanks for your commentary, always appreciated. I can therefore conclude that there are shorts, based on your testimony. Opportunity! I love Rangers! I know you won't retreat and will fight to the death, and that's what I like! Wish I could be there with you, but I have to go Starbucks. I'm late for my lunch.
Thank you, Phun.
So, based on your testimony, I can safely conclude that there are naked shorts AND a cashless exchange occurred. Because it is a *fact* that the sho Reg list will read a cashless exchange the same way as a naked short.
If you know exacly what happened, how, and why, I would ask that you quit sidestepping like a politician and give us full disclosure.
From your own source, that you yourself came in here as a reputable source, Cordelo has shown us testimony of someone exercising his right to the cashless exchange. Because YOU missed the deadline. Intenionally or not, that is a fact. So they could indeed exercise and you got NO CASH from that exercise; is that right? Can you deny that is what happened?
IFF there are shorts also, which is your testimony, then you are under attack both ways. Now, why are shorts here? To cover low, I would presume. They didn't choose an overvalued target did they? No, they chose to target Rangers on the low ground. So, you are scrambling under fire.
Get this ship under control, please. I want in at $2.00 and not a penny more. I have so valutation concerns now, and I'm getting a little squirmish at all the half-answers.
The facts are going to continue to be interpreted here, and the conclusions will never contradict the evidence. Now, your testimony does not contract the evidence so far either -- shorts and a cashless exchange occurred. My conclusion plus your conclusion. Can you falsify that? Can you rule it out with evidence?
A cashless exchange means you received no cash and were diluted for no good reason whatsoever. Would that be correct?
The Reg Sho List is telling you the truth, which is, "failure to deliver." That is the reading a cashless exchange would give -- failure to deliver. The covering was in the form of the exercise of warrants. Unregistered shares, the same signature footprint of naked shorts.
This corroborates the alleged investigation that PHUN received from Nasdaq as theyh cooperate. Apparently, they are clueless as to what happened themselves. The evidence speaks. The problem, as usual, is not the evidence. It's the receiving end of the evidence.
Nasdaq and Finra will wrap up their investigation with the same conclusion I've already given you. There will be no covering. If the stock goes up, it will not be because of shorts covering.
Once again, the Reg Sho List is an investigative tool. Like a Lie Detector is an investigative tool. Theyh are in both fallible. They are tools for further investigation. That is all.
Once again, as Cordelo has falsified, there will be NO naked short covering. Sadly, it appears that maybe on Saturday this company was propulgating this rumor with the same bad evidence.
This is not evidence of shorts. It does, however, fit the facts of a cashless exchange. That is what happened here. I have concluded my investigation. Mr. Market will deliver his verdict.
So No Conference Call Archive?
I guess we might have missed it then, Global. Oh well. I'm still piecing together a Hearsay Testimony Transcript on NROM over here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=148073409
I've got eyewitness testimony from 5 sources so far. This is like trying to piece together an alleged UFO sighting. 5 different witness, 5 different versions of what they think they heard. The good part is that they are all separated and haven't talked to one another yet. That's the best part of my investigation so far. It's a good thing I read the whole series of THE THREE INVESTIGATORS in Junior High School. That was good training. Jupiter Jones was a good influence!
Okay, well, maybe I can start work on HLIX before memories fade next week. The closer I can interview them on the time line, the better. I still have to track down some loose ends on NROM.
I wish we could not do the party lines of the 80s and -- Well, I'm just happy we had a conference call. It was the thought that counts.
That’s why I got out of political discussions candel. It
Was an evolutionary step for me to the markets. Here I get
Paid to be right. I tell them the truth. They deny.
I take their money. The market delivers a verdict. This is
A verdict that delivers truth no matter what. I don’t
Even have to behave or kiss their asses. Truth is where
All the money eventually flows. Politics are just the first half
Of the equation where they make their own verdicts and rulings.
But mr market doesn’t care. The universe doesn’t care
Truth is only rewarded here. And it so good
They think their votes are the verdict. But that’s not the
Verdict. It’s almost spiritual. That’s why I don’t have
Religion. I have science and mr market and mother
Earth.
They won’t pay up anywhere except in the market
They will vanish. They will never admit they are
Wrong. But their bank accounts are the spoils of war.
They can deny all they want. But the universe and
The laws is nature do not lie.
Short term it is a voting machine. Long term it is
A weighing machine. And this is the noise and why
It will never end. The eternal spring floweth over.
HEARSAY DEPOSITION UPDATE:
1) First franchised Craft/Pizza Pub by a multi-unit Dairy Queen operator is due to open by May 1,2019.
2) Testimony from Seeking Alpha
A franchise in Evansville will also be opening sometime this year. They did not give a date, the location hasn't been selected yet. Doesn't sound like it's going to be real soon, but by EOY. In looking at the numbers, I think they have their $30,000 from this franchisee, so it will be happening.
Mobley also suggested that a 3rd franchise is a possibility if the Lafayette location does well. He hinted that there may be other potential franchisees watching the Lafayette location to see how it does before committing.
One overlooked area could be the non-traditional locations. In Q4 '16, they had $1.14M in sales, increased to $1.20M in '17, and $1.28M in Q4 '18. Mobley seemed pretty confident that this would be an area of increased growth with the 14 additional locations signed from Jan 1-March 26, as compared to either 6 or 8 during that timeframe last year. I wasn't a fan of this part of the business before. They always seemed to be adding location, but sales were flat. Now, the additional locations are adding to the bottom line. When I look at a corner with multiple gas stations, one corner usually has sub sandwiches, and the other corner has something else, usually pizza. It does seem to be a business with potential for growth with all of these convenience stores adding express food units.
The other interesting area is the grocery store business. Q4 it did drop from $450,000 to $330,000. However, in Q3, grocery sales were $311,000....so sales actually went UP from Q3 to Q4. Mobley still suggested that there would be decreases in this area, although non-committal on how much, he did say they would be much smaller He did go back to the comment about this being "counter cyclical with the economy", and that this business is built and could go up if the economy slows again. I guess, most importantly, is that this business doesn't seem to be going away. I feared this was going to wind down to 0, so I'd be thrilled if they could at least maintain something around $300,000 per quarter.
3) New Pizza valet with DoorDash was discussed as showing success.
4) A bar enhancement program is coming.
5) They will expand their catering efforts which are successful. I especially love that.
6) A new company-owned store will open by end of year. Possibly a second. One of them will be done by a bank loan of $600K. I will speculate that these will come in the form of tranches from a $1.6M revolving line of credit established 1.5 years ago.
7) Introduce an on-line ordering program and expand their social media footprint.
8) Answer in regard to whether or not the franchisee in Evansville discussed above is coming from our new DQ franchisee or some other person(s):
The Evansville location is a franchisee is an experienced McDonald's operator. They didn't disclose any names.
As far as the 3rd potential franchise later this year, they didn't say. Paul Mobley just said that there were "others" watching the Lafayette opening, and if it goes as well as he thinks it will, they will get another franchise later this year.
Yes, I did get all of the previous info from the conference call. If they have another one, it would be nice if they posted them under their investor relations part of their website. It was the first kind of conference call I was on that was like this. Everyone just called in and jumped in and asked questions when there was a lull...no moderator to introduce questions. It went for about an hour. The first 20-25 minutes was scripted with everything they've done this past year, pretty much old info if you follow the company The rest was Q&A. A good 10 minutes was spent on the huge write-off of receivables they took Q4, and how it was decided since the last report in November that they had $3M in receivables that they would never collect. Not sure we ever got a good answer on that one....although they did say all current franchisees are current on their payments.
I need to come back later and consolidate all this information. Just trying to piece things together still...
An Incredible NROM History from the '60s to mid '90s
To me, this is an amazing history of longevity, survival, and adaptation in the most saturated segment of the most saturated industry.
Source:
http://www.fundinguniverse.com/company-histories/noble-roman-s-inc-history/
This synopsis stops in the mid '90s, and we know it continues up to present day 2019. They are still around and have been through so much. Mobley, still there, coming in as an investor in the early '70s. A lot of people would see that as nepotism and decades of stagnation. I agree. I also see it as survival, some amazing and aggressive moves, a lot knowledge gleaned, lots of experience, and many lessons learned. Hands-on experience in retrenching, as well as ramping up for expansion. Going through multiple recessions, changing consumer preferences, etc. Learning the difficulties of integrating different corporate cultures the hard way, surviving some proxy fights, and on and on. I am fascinated by this chain. And I love that new Pizza Craft Beer Concept.
At present time, it's been a long journey to be a penny stock. Yet, here they are, so much experence and so large with such a small OS compared to your quintessential penny stock How many have we seen come in here with one store, no experience, 10 times the OS, and stories of global domination?
Yet, here we have NROM. No promoters, amateurish conference calls with this fascinating story and all this experience. That's what I want. To me, this is the stock that I want. And I'm putting my money with my mouth. This is MY company in my eyes. I love this company of mine.
Company History:
Operating a chain of casual dining restaurants in the Midwest, Noble Roman's Inc. is known primarily for its pizza and offers a broad selection of toppings and crust styles to be enjoyed at the restaurants as well as through carry-out and home delivery services. In 1995 the Noble Roman's chain included 80 restaurants located in Indiana, Ohio, Missouri, and Kentucky. While most of the restaurants were located in stand-alone buildings and were owned by the company, 14 were franchised in 1995.
Noble Roman's was started in Bloomington, Indiana, by Stephen Huse and Gary Knackstedt. Huse had graduated from the business school at Indiana University in Bloomington before taking a sales job in 1965 with Ransburg Corp. Eager to be on his own, Huse purchased an Arby's restaurant franchise in Bloomington and ran the operation for a few years. In 1969 he spearheaded the purchase of a struggling Bloomington pizza restaurant. During the early 1970s Huse and partner Knackstedt worked together to turn the restaurant around and then to expand in the Bloomington area with new Noble Roman's pizza outlets.
Huse and Knackstedt benefitted during the early and mid-1970s from overall growth in the fast food, and particularly pizza, business. As the population of the college town swelled with increasing numbers of students, sales of Noble Roman's unique pizzas surged. To help them take advantage of growth opportunities, Huse and Knackstedt were joined by investor Paul Mobley in the early 1970s. Mobley helped to fund Noble Roman's expansion throughout the 1970s. He also became increasingly involved in the company's management. In 1977, in fact, Mobley became president of the company. By that time, Knackstedt had left the venture to pursue other interests. Huse, on the other hand, would remain chairman and chief stockholder in the company until 1986.
Noble Roman's continued to grow during the late 1970s and early 1980s, expanding outside of Bloomington's borders in central Indiana and later throughout Indiana and into Ohio. Throughout this period, the burgeoning restaurant chain rang up consistent, healthy profits. To garner more money for expansion, Mobley and Huse took the company public in 1982. They used proceeds from that stock offering to build new outlets and to branch out into other ventures. In addition, Noble Roman's management expanded the chain through franchising. Within a few years of the public offering the Noble Roman's chain had grown to include about 120 stores in Indiana and Ohio, 25 of which were company-owned stores.
After posting hefty profit gains for more than a decade, Noble Roman's fortunes began to turn in 1985. The company netted income of $146,000 in 1984, after which profitability began deteriorating rapidly. Part of the problem stemmed from the chain's decision to intensify its expansion efforts in Ohio through the buyout of several ailing Godfather's Pizza outlets. Godfather's called Noble Roman's executives in 1984 to see if they would be interested in buying their 21-store Dayton, Ohio, operations. Noble Roman's already had nine units in the area and was planning to open another five within the year. Executives initially rejected the offer, but finally agreed to purchase seven of the stores, which they planned to convert to Noble Roman's.
The deal was closed in March 1985, but problems immediately ensued. The management at Noble Roman's clashed with managers at the Godfather's stores. All seven of the store managers quit within a few months, and Mobley and fellow executives had trouble finding worthy replacements. To make matters worse, the deal had left Noble Roman's financially strapped and unable to invest funds necessary to revitalize the lagging Godfather's outlets. Rather than sell off the new stores, Mobley decided to hire the best managers he could find at whatever price he would have to pay. Even that effort proved to be inadequate because the stores had already developed a bad reputation locally; little could be done to make amends.
Noble Roman's finally shuttered six of the seven stores, as well as three existing Noble Roman's in Dayton and another failing store in Decatur, Indiana. As a result of the failed Godfather's deal and other setbacks within the company, Noble Roman's net income plunged in 1985 to a deficit of $1.5 million. The company lost another $700,000 in the first quarter of 1986 and suffered another big deficit the next quarter when it wrote off losses related to the ten stores it closed in 1985. Noble Roman's eventually recorded a crushing $3.7 million loss for 1986. Management was left scrambling for a solution to the crisis.
While Mobley and fellow executives worked to repair the ailing company, Noble Roman's founder, Steve Huse, distanced himself from the company. In fact, Huse's influence on day-to-day operations had been declining since he and Mobley took the company public in December 1982. When the company negotiated the Godfather's deal, Huse increasingly began to turn his attention to other interests. He continued to own half of American Diversified Foods, Inc., which owned 11 Arby's Roast Beef franchises in Indiana and was connected to the first Arby's franchise he had started in 1967. Huse also dabbled in real estate and had owned a group of billiards/electronic game halls for a time (the halls were sold to Bally Manufacturing Corp. in 1983).
In 1985, the time when Noble Roman's first began to encounter serious problems, Huse opened a new restaurant in Bloomington called Mustard's. The venture, which represented a culmination of restaurant ideas that Huse had picked up during various travels, was ultimately a success. Shortly after opening that restaurant Huse purchased the well-known and respected St. Elmo Steak House in Indianapolis. Moreover, although Huse remained the largest single shareholder of Noble Roman's stock, he had been reducing his stake in the company since 1977. Finally, in 1986, Huse resigned from his position as chairman of the board. He later started the Huse Food Group, a holding company with various restaurant and real estate interests, and served for a few years as president and chief executive officer of the Indianapolis-based Consolidated Products, Inc., which owned the venerable Steak n Shake chain of eateries.
Although Noble Roman's same-store sales improved during 1986, the company continued to struggle toward profitability. In an effort to buoy the company's sagging balance sheet, a group of company insiders led by Mobley purchased 12 stores from the company in 1987 for about $4.1 million. That left Noble Roman's with a chain of about 120 outlets, roughly 40 of which were owned by the company or by its executives. In addition, Mobley moved the company's headquarters from Bloomington to Indianapolis as part of an overall cost-cutting effort. He also reduced the headquarters staff from 30 to 23, closed some restaurants, and initiated several other measures that reduced the company's expenses by about $1.1 million annually. Mobley was joined in the effort by his 25-year-old son Scott, who joined the company in 1986.
During the late 1980s Noble Roman's went through a major reorganization. Managers became more responsible for their own budgets and improving efficiency in their operational area, and several stores changed ownership as part of an effort to boost cash flow and recover some of the $4.1 million that management invested in 1987. Importantly, Mobley made a decision to shift Noble Roman's focus away from the cut-throat, low-cost delivery segment and toward the upscale end of the pizza market. To that end, the restaurant introduced and began to emphasize its premium, high-profit products and to intensify its quality and service efforts. The menu was expanded to include pastas and other pizza-related products, and a late-night menu was introduced as well. Importantly, Noble Roman's also initiated a costly renovation program during the late 1980s designed to update the stores and give them a more upscale, progressive image.
As a result of the efforts of Mobley and his managers, Noble Roman's finances gradually recovered. The company's net loss of $500,000 in 1988 was reduced to a deficit of just $16,531 in 1990. Finally, in 1991 Noble Roman's returned to profitability with earnings of more than $200,000 on revenue of about $8.5 million. Throughout the period of recovery, however, some analysts remained skeptical of the company's strategy, citing several concerns. Even as late as 1989, for example, Noble Roman's was scrambling for cash to meet its burdensome liabilities, and observers noted that a variety of influences, such as a potential increase in the minimum wage, threatened to quash the company's gains. By the early 1990s, though, many skeptics were beginning to place more faith in Noble Roman's course of action. "I think they'll get this done," said stock analyst Ray Diggle in the Indianapolis Business Journal in January 1993. "Clearly, sales are doing exceptionally well. The company has done a good job of curtailing inventory costs. I think the company is poised for a period of solid growth."
After peaking at about 120 stores in the mid-1980s, the total number of Noble Roman's stores was reduced to about 75 by 1992. The reorganization and store reduction had allowed Noble Roman's to get back on track financially. In 1992, despite recessionary economic conditions, Noble Roman's increased its earnings to about $491,000 from sales of $9.1 million. In January 1993 the company bought back 27 of its restaurants from three companies that were franchising the outlets in Indiana. That left it with a total of 42 company-owned stores and 31 franchises. The purchase helped the chain to boost its sales to $24.2 million while profits grew to about $841,000. A drawback of the move was that it saddled Noble Roman's with a fat debt burden--long-term debt rocketed from $2.5 million to a lofty $8 million after the purchase. At the same time, Noble Roman's was still trying to pay off tax liabilities that had been accruing since the organization began experiencing problems in the mid-1980s.
Noble Roman's heavy debt and thin cash flow was reflected by its stock price, which had hovered around a low $3 during much of the early 1990s. That situation began to change in 1994, though, when Noble Roman's performance continued to improve and Mobley began paring the company's liabilities. In 1994 Noble Roman's added a total of five new restaurants to its chain and announced plans to tag an additional 30 stores onto its portfolio by 1996.
The company also benefitted from general industry trends. Indeed, although the pizza industry was growing, the big, low-cost delivery chains were not. Instead, smaller operators catering to the high-end segment were posting solid market share gains. Evidencing the validity of Noble Roman's upscale strategy, the chain reported record net income in 1994 of $1.5 million from revenues of $30.5 million.
Besides opening new stores in 1994 and 1995, Noble Roman's continued to buy outlets that were being operated as franchises. By mid-1995 Noble Roman's was operating 66 company-owned stores and 14 franchises, a state of affairs that gave it ownership and control of more than 80 percent of the outlets in its chain. That increased ownership, combined with savvy management, allowed Noble Roman's to boost its sales and profits 63 percent and 87 percent, respectively, between 1991 and 1994. That achievement earned Noble Roman's a spot on Business Week's 1995 list of "small, hot-growth" companies in 1995. (To be eligible for the list, a company had to have revenues between $10 million and $150 million and a market value of less than $1 million.) Going into the latter part of the 1990s, Noble Roman's was planning to expand its midwestern chain to more than 120 outlets, increase per-store profits, and reduce its debt.
Preliminary Hearsay NROM Confrence Call Transcript Pieced Together
Thanks to your help others, OBrien, I've been able to piece together a hearsay synopsis of the conference call that can't be found in the 10K. Let me know if you think of anything else or if you disagree with anything you see here so far. It is still a work in progress.
Oh, and for the record, everyone, 100% so far, concur that the conference call was indeed annoying in the fact that nobody had their phones muted. LOL Okay, well, at least they know how to run a restaurant. That's what matters. :)
1) First franchised Craft/Pizza Pub by a multi-unit Dairy Queen operator is due to open by May 1,2019.
2) Testimony from Seeking Alpha
A franchise in Evansville will also be opening sometime this year. They did not give a date, the location hasn't been selected yet. Doesn't sound like it's going to be real soon, but by EOY. In looking at the numbers, I think they have their $30,000 from this franchisee, so it will be happening.
Mobley also suggested that a 3rd franchise is a possibility if the Lafayette location does well. He hinted that there may be other potential franchisees watching the Lafayette location to see how it does before committing.
One overlooked area could be the non-traditional locations. In Q4 '16, they had $1.14M in sales, increased to $1.20M in '17, and $1.28M in Q4 '18. Mobley seemed pretty confident that this would be an area of increased growth with the 14 additional locations signed from Jan 1-March 26, as compared to either 6 or 8 during that timeframe last year. I wasn't a fan of this part of the business before. They always seemed to be adding location, but sales were flat. Now, the additional locations are adding to the bottom line. When I look at a corner with multiple gas stations, one corner usually has sub sandwiches, and the other corner has something else, usually pizza. It does seem to be a business with potential for growth with all of these convenience stores adding express food units.
The other interesting area is the grocery store business. Q4 it did drop from $450,000 to $330,000. However, in Q3, grocery sales were $311,000....so sales actually went UP from Q3 to Q4. Mobley still suggested that there would be decreases in this area, although non-committal on how much, he did say they would be much smaller He did go back to the comment about this being "counter cyclical with the economy", and that this business is built and could go up if the economy slows again. I guess, most importantly, is that this business doesn't seem to be going away. I feared this was going to wind down to 0, so I'd be thrilled if they could at least maintain something around $300,000 per quarter.
3) New Pizza valet with DoorDash was discussed as showing success.
4) A bar enhancement program is coming.
5) They will expand their catering efforts which are successful. I especially love that.
6) A new company-owned store will open by end of year. Possibly a second. One of them will be done by a bank loan of $600K. I will speculate that these will come in the form of tranches from a $1.6M revolving line of credit established 1.5 years ago.
7) Introduce an on-line ordering program and expand their social media footprint.
I would also like to speculate on a personal level that by this time next year, the landscape will look entirely different. For one, there are convertibles due at the end of this year. At this price, they will have to be extended and that could be a dark cloud. And I have full confidence that they will be. I'm absolutely confident and don't see that as a risk at all. Not in the slightest. Therefore, I think the real journey is just around the corner.
PHUN, I'm not saying I'm mad at you! Sometimes my tone and words don't come out right. When I say I'm mad with you, I'm trying to say I'm mad WITH you. As in, I'm not mad at PHUN, I'm mad WITH PHUN. As in, I'm also mad as PHUN is mad. Like, I'm mad that we are unnecessarily diluted, but not at PHUN. Like PHUN, I'm mad. Because I'm sure PHUN is mad. So I'm mad too. As in mad WITH Phun.
Oh, I give up. As long as you are not my ex-wife, I think we can just focus on the facts.
I'm mad and phurious in alignment with PHUN. We are both mad and furious I believe. PHUN and I are both equally mad at how the SEC dragged its feet. That's what I'm trying to say. No sense of urgency. I'm mad WITH phun. On the PHUN team.
It sounds like what you are describing is an Empty shell
Most likely based on that price. Shares can be canceled
In that case. I understand that.
This is a more complicated situation though. The
Shares were exchanged legally. That was the contract.
Seems to me geeeks on the board should have been in
Best position to know this. Cfo also. But regardless
It was a binding contract. And those that are buying
Now at $6 are entering legal contracts.
If it would cause distrust in our financial markets
The sec wouldn’t go there. They are there to maintain
Confidence. That’s the foundation of finance — trust.
I can understand an empty shell. That’s a different scenario
With several warning signs saying trespasses beware.
I do those too. I aware of those risks.
This whole spac just stinks. But I’m glad phunware
Didn’t wait longer as I benefited. And I learned about
This from a 1 cent stick in fact that is not an empty
Shell. And on the Canadian exchange like yours was
Funny. I actually like sedar and the cse Bettee than our
Otc and markets here. For one their citizens understand
That good government is good. That’s part of it.
I learned from fineqias press release. Which I’m not sure
If they got hoodwinked or just wanted to exaggerate their
Investment here. Regardless they brought me here and
For that I’m thankful. Even though I have 2 million
Shares there as they jack around waiting for approval
From the uk. Also an agency I respect more than ours
As ours are more political and full of obstruction. Hence
This mess.
But I benefit and those that voted for this didn’t. And that is
Poetic if I do say so myself. And if it
Goes to 2 because of the rush to dilute
Oneself early as a side effect to deregulation then
I’ll be the first to reach out to anne coulter and thank her Lol.
Their money my bank account. Mr market. Gotta
Love him.
My question to phunware now is what happens to those
Shares from the cashless exchange ? I’m just going to treat
That as face due to my confidence level
Now I’m in dark territory. Can they be cancelled by the
Company ? What legal rights are available to
Phun? Can the unnecessary dilution be
Erased ? I don’t know. I would need advice of
Counsel. I’m sure phun is phurious and already
Discussing the matter
The problem with that idea is those shares
Have now been bought by the innocent
And they have right. For every seller there is
A buyer. You can’t erase them.
So I’m just mad with Phun and don’t have
Legal counsel or options to Weigh or
What comes next. More learning to come.
Fascinating
Maybe call rush Limbaugh’s ditto heads ? They
Created this mess. Have them clean it up. Lol.
If those those that exercises their right to the cash exchange felt the
Company was worth 50 and could support their price they would Have
Waited for registration and kept 100 percent of their shares that way.
In this scenario however they got to keep about 60 percent of their shaheed
Due to the price and to get out first before i and others could
Do the same. It does not guarantee a falling price. Huge demand
Would have been there to absorb it if it was worth 50. That’s
Why that value fund whatever it’s name was did not value
Their phun investment on the books at trading prices.
I think you are right in that this is a decent price and it is also
Below all warrant prices to my knowledge. But now the company
Is diluted for no good reason at all as I understand it. And
For that there must be punishment. I am not saying the stock
Will fall. I’m only saying I want a 2 dollar opportunity.
Without the cash to support this dilution I don’t think 20 is as good
As it looked before. And even then it was expensive and requires
Perfect execution and I don’t like high hurdles. I like low
Hurdles to clear. That’s why when I was a freshman in hs on
The track and cross country team I declined the offer to be on the
Varsity team. I said no. Hi like low hurdles where I can win trophies
And cookies. I don’t like high hurdles. I never did and never will
You are wrong. Once again, that is not what the Reg Sho List is saying. It is tool used to sniff out naked shorts, but it's looking for a signature of shorts. It's often a good sign there are shorts, but that's not what it is saying.
It is giving YOU a false signal because you think that's what it's saying. It's look for a tell tale sign of shares being sold that were not registered -- ie, illegal naked short selling due to Frank Dodd regulations. Another GOOD example of regulation. It's telling you "failure to deliver." That is not proof of naked shorting, although, it is a safe bet. And it only comes up as a flag in the SEC's Reg Sho List when it is in large proportion to the OS, signaling *potential* naked shorts, which was intended to sniff out illegal activity. It's good for narrowing searches, for further investigation. It is NOT proof of naked shorts.
Other legal activities could leave the same signature footprint, such as in this case, a legal loophole, a cashless exchange. Smart money that identified this legal technicality were able to exercise by essentially doing what a naked short would do, but legally. So, the company in both cases does not get money for the shares issued. And I'm very confident that's what happened. The dates align up, and you are going to find that I'm right. Just watch. So, that means the company is worth LESS than it would have been with cash in its coffers from exercised warrants.
PHUN is welcome to come in here and falsify anything I just said. And what PHUN says must be legal and truthful, unlike others here. That is a company rep, so I welcome him to take the stand.