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I have still been keeping my eye out for any opportunities (force of habit) but damn......the situation seems dire. I do believe OTC is dead and it's not coming back. It still makes me sick.
Damn. This is horrible. OTC is dead as a doornail. This sucks.
Not sure what you mean, exactly. I am a 19 year veteran of the OTCs. Once again, I never said that KAST was going to definitely go to $2 per share....there is simply no way to know that without having an idea of whom the merging company is. My actual statement was that $2 per share is still only a $60M market cap with the current share structure.....thus, with a decent merger it was not out of the realm of possibility. I know nothing more than you about KAST.
I have not even been playing the OTC because it is so bad right now.....but when I came across this one I decided to play it based on the outstanding share structure alone. I also saw that there had been a share reduction and court filings stating a reverse merger was in the works that would be of a substantial benefit to shareholders. This is why I am bullish on KAST.
LOL? Chill. I think we are saying pretty much the same thing. I have made no assumptions. How could I when I do not know what the merging company is? Yes, of course we have seen shell scams that dilute for cash. I hope this does not turn out that way. All I said is that if Curier brings in a decent reverse merger, with this share structure it could be a very good return.
And we have also seen stocks run to a ridiculous amount over their market caps. All I am saying....is that if this is a decent merger, everyone should do very well with this share structure. I think it has the potential to run bigly.
Very true, and I agree BUT.....$2 per share is a measly $60m market cap. So, if Curier is bringing in a quality merger it could run to that and possibly higher.
Wow. Are you aware that posting a fake PR is actually illegal and you could be arrested/fined? Not smart, buddy.
It may indeed end up being tossed......but the issue is time. If this goes to 2023 as another poster stated, kiss this merger (if there was one) goodbye.
As much as I wish it were the same company.....you are right, it's not. Also....David Lazar seems to have disappeared. XNNHQ was a past bankruptcy so I wonder if there were skeletons in the closet and if that is the reason why there was never a reverse merger. On the positive side.....with this sick share structure, if it were to just get out of the expert market many that are still holding would see great returns. I am still holding onto 500k shares so I really hope it is the next Q to get back on the pinks and run bigly.
I like your optimism.....but I just don't see it. As I have stated before, the new SEC rules fundamentally changed the OTC for good. Good luck though. I hope you find some decent plays.
Do you guys live in Canada? Are you able to buy it right now on the expert market? If not, why should anyone care about this stock? I remember the gold 'ol days when people who did their DD could capitalize on filings and get in on the bottom floor of plays like this and make money. The new SEC rules have killed it now. So again, who should care? This market is dead.
Is this true everyone? Let me ask you....was the triple 000 play you are speaking of on the Expert Market? I think people need to throw in the towel. The penny market is dead. This is just more government oppression. Big brother cannot have the little guy making money.
I don't like searching for needles in haystacks. That is what the new SEC rules/actions did to the OTC. It's just not worth the time anymore. Why no one stood up to object/ fight these changes I will never know. Now, no one is making any money in this market and if they tell you they are, they're lying. It's horrible.
Hence the saying when you do not learn from history, you are doomed to repeat it. Good luck.
The facts are that George and the WorldWideNFT Twitter site (probably also George) publically stated that Calasses's appeal was a non issue and they were moving ahead regardless. With the name/symbol change they stated they were now in the "promised land". Next thing we know....we get a PR stating that they can not go forward with a merger until the Calasse appeal is settled, and that they are "entertaining many merger candidates". Next tweet we get from George is a tweet BLAMING US and telling us to think about it "before we hit the buy button". He triied to tell us that the "promised land" tweet had to do with the name change? LMAO.....reverse mergers always do name changes. A simple name change is NOT the "PROMISED LAND"! The fact is that George lied and misled investors when they told us Calasse was a non issue and they were moving forward anyway. George lied when he said he had a merger that had to do with NFTs. You do not rename a shell as an NFT company and then say you are "entertaining merger candidates" AFTER the fact. George is a fraud. A rotten scumbag.
That's what I fear. I think the OTC is dead for good.
Good post. "OTC rules should get reversed to allow some more capital creation". That is what I have been hoping......that the SEC will reverse course on these market killing regulations. It has been a disaster. I just worry about how long it will be before they figure it out.
NP....
Makes no sense. GOFF was a shell seeking a reverse merger. That is the time that a shell custodian "entertains mergers"/candidates etc. You do a name/symbol change and forward split after the merger has been finalized (and the new name reflects that of the merging company) This is what makes me believe that this whole thing was nothing more than a scam. You do not take all of those steps and THEN "entertain mergers" (unless a deal that you did have fell through completely). But even then.....why do a forward split until the merger deal is finalized?
https://www.swlaw.com/assets/pdf/news/2019/10/01/NevadaAppellateProcedureAStepByStepGuide.pdf Read the process.....Calasse can still drag this out for some time. As another poster said perfectly, the court system is being weaponized.
That was in the first half of last year. At the end of last year, the new SEC amendment took effect https://www.sec.gov/news/press-release/2020-212 so plays like that will NEVER happen again. Ever. For example, ENZC was a reinstatement and they were catching up on all of their filings. People who saw this, and reacted, made ALOT of money. Now, with the new SEC market killing regulation.....stocks like that would be on the "expert market" as they catch up with filings......where traders like you and I would'nt be able to buy shares. The new SEC rules have killed the OTC. Reinstatements, reverse mergers, triple 000 plays.....all gone. Those plays/catalysts were the biggest gainers in the history of the OTC. This is why the OTC is now on life support. It's why this board is now a ghost town, as well as the reverse merger boards.
True. But I will not be buying shares in any of his others after the "promised land" B.S. fool me once shame on you....fool me twice shame on me".
Well....it looks like you were right. Unfortunately.
We will see. I guess what irks me is the fact that Worldwide NFT tweeted that we were going to now be in the "promised land" when they knew very well what their next announcement would be. More legal problems.... More delays.....and now, no merger pending. Does that sound like the promised land to you? Sounds more like a pump. Frustrating.
Good post.......but one problem with your analysis, Worldwide NFT tweeted that they have NO INTENTION of entertaining Calasse with any settlement offer.
This appeal could go on another year. There is no way a potential merging company will wait that long. This play is toast.
It is now my belief that George never had a whale on the hook for this shell. If he did....and the deal fell through because of Calasse.....why would'nt George just say "Hey, i've got another shell with no legal issues" (SRNW) and a better share structure? There never was a merger candidate. George targeted a hot sector and ran a fraud/pump. His reputation is done.
Some Q stocks have run up huge lately.....if XNNHQ comes off the expert market, we could see dollars IMO.
The share structure here is amazing. That is a positive, for sure. The negative.....I don't think I have ever seen Alpharidge Capital close on any significant mergers.
The OTC is on life support and dying a slow death. Here is why https://www.sec.gov/news/press-release/2020-212 The SEC "big brother" decided that OTC traders needed their protection from making money. So....they implemented market killing regulation and unless they reverse course, which is not likely, this is a permanent condition.Historically, reinstatements.....custodianships....reverse mergers....triple and double zero plays were the biggest % gainers in the OTC. The SEC changes have KILLED those catalysts. Not to mention.....if a stock in this current market does actually manage to run up by thousands of percents, the SEC can halt it at any time. Penny stocks used to be a great avenue towards building wealth. We have seen many become millionaires. Those days are gone. This is not the normal OTC summer doldrums. This is the new normal.
I have to agree. Furthermore......George just tweeted that both WNFT and SRNW had alot of interest as it pertains to potential suitors. So why the B.S.? Why did he do a symbol change of GOFF to WNFT when the company was still a shell with "potential" suitors? Why did the WFNT Twitter page (probably also George) tell us about the "promised land" when they knew then the Calasse case was still pending? This now has scam written all over it. George used a hot sector and tried to pump this. It failed. Too many red flags now. I'm out. Sorry everyone....just calling it like I see it.
https://www.globenewswire.com/news-release/2022/07/08/2476600/0/en/Worldwide-NFT-Inc-Provides-Shareholder-Update.html this is bad. I totally expect this to crash hard today. No positive way to spin this. I did tell everyone that this could happen. Calasse's interference most likely killed this reverse merger. I stated before that I have seen deals fall apart over less.
I recall hearing that there was a court date scheduled for November. This is bad.
My prediction is that the news will come tomorrow near to, or after close. People will be locked in for the weekend for better or worse. So, at this point you either believe in WNFT or you don't. Monday morning the stock will totally skyrocket or crash and burn. George's reputation hinges on this one. He wants to retire so I don't think he is looking for it to crash and burn. Not much longer. I think we will all be retiring with George.
I agree. George did not just start tweeting a bunch of Christmas stuff (like christmas merchandise being available in some stores already) for nothing. It's a definite message being sent. I also think they are waiting for the 3 for 1 forward splits to be settled into everyone's accounts before the merger reveal. Some brokers still have not settled the split shares.
Historically, reinstatements.....custodianship plays...reverse merger plays....and double/triple 000 stock plays were always the biggest % gainers in the OTC. The new SEC amendment (15c-211) and the implementation of a so-called expert market killed all of those plays with a single shot. You will never see plays like TSNP/HUMBL or GOFF/WNFT again. Potential plays such as those may hang out on the expert market where you and I cannot touch them.....but by the time they reach the OTC the PPS always starts out with a huge spread on bid/ask and it has already eaten into most of the profits most of us used to make when we were able to get in on the bottom floor. The creation of the expert market was a totally corrupt concept. We no longer have free, fair markets when they are stealing our market out from under us to give to "sophisticated investors". Big Brother decided too many people were making good money....even becoming millionaires on the OTC.....and they just could'nt have that happening anymore. America is quickly becoming a suppressive country. This is the real reason people do not have confidence in the markets. To answer your question, money may never come back to the OTC. I fully expect this market not to be around at all in another few years.
Exactly.....
"Nobody does a forward split without substance". That's exactly right! The old adage is always "reverse split, dilute, rinse repeat"......NEVER "Forward split, dilute, rinse repeat". There is a reason for that. More outstanding shares will bring the PPS down, without substance. So what can a logical person conclude? There IS SUBSTANCE. A 3 for 1 means not only that there is substance, but ALOT OF IT!
The ONLY reason for a forward split of that magnitude is a high company valuation and expectations of rapidly increased volume once news is revealed. It's why most pre reverse merger stocks do REVERSE splits INSTEAD of FORWARD splits.....dilute, rinse, and repeat. We all know the old adage. That's why I am expecting something HUGE here. Not too much longer IMO.