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The SGN filing shows the terms of this deal, and if I’m reading it correctly, all of the preferred are going to convert.
They may have some plan to lock those up, but if they don’t, that would seem to mean drcr shareholders will be diluted In a way that seems incredible. I hope that’s really not the case. I reached out to the company and got no answer. For this reason, I sold the rest of my shares. Wish you the best.
It feels like DRCR is being watered down at these prices. Perhaps they need money for a merger? Or ? I don't see any other explanation. This is a normal pattern. Issue a press release and then sell it 60% down, show that it is cheap and then sell and sell. But the company is strong. Everyone needs money. It's worse if the company has been sucking money from investors for years. DRCR for 3 years is minimal dilution. Revenues of $128 million, and a strong CEO who will achieve his heights!
The 2 founders issued themselves almost all the Preferred shares authorized of 50 million convertible at 1:100.Even if they were to convert 20% of those there would be 1billion O/S.
Some people still believe this stock was ‘extremely undervalued’.It was not because everything is there in the last annual report.Unless someone believes that the fully diluted number of 5billion is for whatever reason irrelevant.
There is no mention of R/S or filing that says an R/S. IMO, after all is done, this will be a $2 - $3 stock.
the question is how much of that value goes to us or to the top guys ... hopefully they do the right thing...
They key thing is that DRCR was given a $156M valuation. That's huge and given that the current MC is $4.4M it indicates that DRCR is massively undervalued even if there is some concern about the preferred shares. The valuation not only serves to set the split of shares between the two companies, it serves as a target MC. These valuations are shared in the investment roadshows that they do and they get buy-in from these firms. They usually have a loose commitment to invest which should drive the post merger MC to the sum of these valuations. Seems like easy money to me. I am very bullish.
rebound time - so we now have some indication that fears about an rm were behind the recent drop.
I thought maybe it was fears about dilution. Seems to me there could be in place a plan to set up preferred shares under the new company similarly to the current situation after converting everything over.
This appears to be a real company with big plans for expansion. We will see.
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You sure about that? Is there some requirement than a company being acquired on a higher exchange meet the exchange requirements to be listed when the acquiring company is already listed? Sounds a bit odd as it seems to me the concern should only be whether the new company continues to meet the requirements.
There has been no rm filing for DRCR, but SGN has one because they are under $1 - no surprise there, though they could remove it if the market likes this arrangement enough to push the price over $1.
Curious if/when the market may rebound here.
The dilution question is my concern. So far no response from the company.
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Reverse split coming for listing on NYSE. That's why we all sold. Plus $SGN will have to reverse split too. So $DRCR shareholders will get less shares.
Remember you need to be listed at a minimum of $1.00
IF there is no deal I am not worried short term since dilution hasn't happened to any degree in 3 years.
The email was more about what happens with the deal re possible dilution.
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Let’s see if and what they will answer.
Looks like SGN is a safer bet for modest profits at the moment in case that 5billion number
materializes, because it would then mean 2-3c valuation for this stock.
Thanks for pointing that out. Sent email - doesn't add up.
Have a look at the last 10-K
https://www.otcmarkets.com/otcapi/company/financial-report/397140/content
Diluted there are 5,050,716,914 shares.Do you think the owners will gift the shareholders and SGN their company?
here's what it looks like to me:
I'm not sure where you are getting the 750m. currently 500m AS x .14 is $70m valued on fully diluted but again, there has been very little dilution in the last 3 years.
If no deal happens the estimated value of $156m would equate to roughly $3 a share currently. That estimate appears valid: The industry avg PS ratio for gambling companies is 1.46 so given Swifty's impressive $128m annual revenue - $156m is not too far off. Way way more than the current valuation of only $8m https://www.google.com/search?q=industry+average+PS+ratio+for+gambling+software+companies&oq=industry+average+PS+ratio+for+gambling+software+companies&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIKCAEQABiABBiiBDIKCAIQABiiBBiJBTIKCAMQABiiBBiJBdIBCTExMzU5ajFqMagCALACAQ&sourceid=chrome&ie=UTF-8
If the deal goes through everything changes. I'm not real familiar with how these things work but will give it a shot. Please correct anything you see that is wrong:
The DRCR shareholders are supposed to own roughly 92% of SGN in the end.
It seems that would mean SGN OS goes from roughly 17m to 17/.08 = roughly 212m shares over time after the preferred shares given to DRCR shareholders convert to common.
Since it is an all equity deal the value to DRCR shareholders will depend on the market. Being on NYSE should enable a fairer market valuation for DRCR shareholders than what they've gotten on the OTC so far. The combined estimated value of $170m would be a SGN price of .80 That's way up from the pre-announcement SGN price of .114 and still markedly higher than today's .24
This could be a monster company in the making. From the PR:
Thanks, The OS has barely changed in the last three years from the 50 million. So from what I’m seeing, there has been very little dilution.
I will be looking more closely at the terms of this deal. This part seemed very positive to me but I’m not sure how the numbers transfer over yet.
“The transaction is based on an assumed equity value of $14 million for Signing Day Sports and $156 million for Swifty.”
I guess you didn't check the fully diluted numbers.
Fully diluted this is a $750M stock.
Very interesting.
$128m revs, profitable, only 11m mcap, good ss, uplisting...good combination
This stock is blowing up on Twitter. I refuse to call it X anymore. No one calls it X without mentioning Twitter and I refuse to write formerly known as Twitter. It takes too long.
Yes, there are clear signs of manipulation, MM, they want to take more shares.
Not sure what the conversion is. But I think we get 90% of the shares of the new company. What share or Dollar amount does that equate to not sure.
Dirty MMs are short as $hit.
$DRCR
I think so too. In such cases, growth delays occur. SGN is up 400%!!! This merger will be fantastic for DRCR.
They will follow the sgn move in a couple of days
What percentage of shares will DRCR investors receive?
DRCR
Dear Cashmere Holding Company (PK)
0.189
0.0416 (28.22%)
Volume: 180,663
Day Range: 0.1651 - 0.19
Bid: 0.1611
Ask: 0.189
Last Trade Time: 9:43:31 AM EDT
Total Trades: 32
DRCR
Dear Cashmere Holding Company (PK)
0.15
0.00296 (2.01%)
Volume: 49,907
Day Range: 0.1387 - 0.15
Last Trade Time: 3:57:17 PM EDT
This may be the most undervalued stock in OTC. I keep adding when I can.
Uplisting coming along with the stock price!
Monk, how did you like the beta testing?
Although I’d like a lot more information, so far what I see makes this look very undervalued even without the new stuff
DRCR
Dear Cashmere Holding Company (PK)
0.22
-0.007 (-3.08%)
Volume: 15,239
Day Range: 0.21958 - 0.23
Last Trade Time: 1:55:33 PM EDT
Yep, I've been slowly adding when I can. This looks like a sleeper, and when we uplist, it should move fast!
No way an auditors signs off on the financials without reviewing the transactions. They are also moving on with the merger uplist (by end of q3 per the filings)
ok, I did find some reviews so that helped (thought I had checked for that previously)..
@tedpeele Swifty gaming is not accessible in the USA so of course it won't work for you in the US
Predictions is in the UK mobile store. I was part of the beta testing in the USA when it was released.
I don't like to call something a scam when it isn't but what gives here? See my recent messages - nobody seems to have an answer.
thanks but that's where I started. As I said the predictions app appears to not exist yet and the gaming app blocked my IP I guess because I live in the USA.
It would be nice to see something that validates that they have real products that are in use - even a news article about them would be helpful.
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Already have. I'm saying I can't find their products - if I can't, how can anyone else?
Check out their pr’s on OTCMarkets.com. This is one to watch in my opinion. Low float, great leadership.
1440 NW 1st Court
Boca Raton, FL 33432
26 Broadway Suite 934
New York, NY 10004
+971-58-589-406
info@swifty.global
PER IHUB MGMT
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