Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I don't doubt anything you say here, but I know from some of the previous conf calls that there are quite a few non-US people who attend. I'm from Europe myself, and although I wasn't on this weekends call I have attended some in the past.
I did prefer the audio conferences as well, when questions from attendees could be spoken out loud and viewable to all.
I believe Jazz said he would suggest to the company that they bring back some sort of audio-interaction. There is definitely cheap webinar software out there that allows the callers to be unmuted and speak.
I too would like to see a free and open conference call for shareholders, where we can ask and get an answer to our questions.
Hey Jazz!
The acceptance of physical stock certificates is at the discretion of the broker itself, they all have different rules. As you say, Schwab and most mainstream discount brokers have the $3 to $5 minimum share price restrictions. Some wont accept penny stock certificates at all.
This is a shame because most of the restricted share offerings from penny stock (OTC) companies have to go through a process to get unlocked that involve you having to get physical certificates from your brokers, getting the "restricted" legend removed from them, and then re-depositing them with a broker.
I think what most of us with any restricted shares will need to do is find a broker that DOES accept physical certificates for penny stocks. They do exist.
It does cost money though, about $600 from start-to-finish (per certificate) for the receiving broker to deposit the physical stock certificates into the account.
Here is a broker that will accept penny stock certificates as long as they are "current" with their filings and trade at over $0.01
http://www.glendalesecurities.com/certificatedeposit.html
I'm not sure if the company that issues the shares (in this case LKEN) are able to assist in any of this, by issuing the physical certificates themselves, or if they have access to a receiving broker who would do it free or cheap or anything like that.
I think getting a full and detailed "how to get your restricted shares unlocked" guide from the company would be a very useful thing for all involved...both legacy dividend holders and new 506 offering holders.
I hope this helps :)
The same person who bought 850,000 shares at .0038 on jun 20th I would imagine. In the last few sessions I've seen a block of 850k on the ask at 0042, 0039, 0038 and now 0037.
Looks like 650,000 of his shares just got bought at the ask though. 200,000 left.
I'm not sure WHAT that was... but it didn't look like a promo to me. It looked more like 5 or 6 guys with similar girls in bikini's profile pics just posting messages to each other for a few hours premarket yesterday. Over 200 messages in fact. Then just stopped.
No idea what to make of it yet. Maybe the start of something, maybe not. Time will tell i guess! Weirdest thing I've seen on here in a while!
LKEN made it onto Reuters, Marketwatch, CNBC, MSN etc pages today because of yesterdays PR. There was a prnewsire "hemp/cannabis roundup" type article of high volume trading.
What the deal between HEMP and LKEN actually brings remains to be seen, as does the share price reaction, but this will at least get the LKEN name out there even more than it has been. That's a good thing imo however you look at it.
Just need the selling pressure to ease up here, wherever it is coming from to let this run a little.
http://pdf.reuters.com/pdfnews/pdfnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20140226:nPnj4k2jl
http://www.marketwatch.com/story/cannabis-sectors-high-volume-trading-report-company-enters-into-agreement-with-a-colorado-marijuana-facility-developer-2014-02-26?reflink=MW_news_stmp
http://money.msn.com/business-news/article.aspx?feed=PR&Date=20140226&ID=17385177
hi venture thanks for the info. Were the shares reverse split by 100 to 1?
I have about 2million restricted in my account, but i assumed if i actually go through the process of unlocking them then it will be split to 20,000.
can you tell me the exact process you went through, i am with schwab too. Did you have to get a "letter of opinion" from a lawyer or speak to the transfer agent or did schwab do all that?
awesome, really looking forward to seeing all the events unfold!
yeah welcome new peeps to the board, good to have you here! I'm glad you can see the awesome potential in LKEN and the excitement you guys are bringing!
Really excited to see the developments here in the coming days and weeks!
(don't worry about sniz, hes well known as the grumpy old man of the board lol ....... juuuust kiddin sniz!)
yeah tighter spread would be ideal, but the fact the ask still at .012 and nobody is downticking it is a great sign for a start. good to have you guys and all the new attention here.
yip, moving up easier on less volume today. makes me think some older shareholders just wanted out. will be interesting to see how the sellers react when we move higher.
lol you wont buy me out, cos i see the huge value in this company! but i see your point, and im sure there will be some happy to sell to you, just not me ;)
excited to see some new blood myself!
congrats my friend! you were here when the stock and all of us needed you, im glad you made some profit on your recent buys :)
LKEN has a tiny public float, that's one of the biggest plus sides imo. I do think we have had, and will still have, people who have been holding this for a long time that just want out and we have probably seen selling from them already.
Will be interesting to see how we can do after they have exited. Not sure what price that resistance will come at, but its really encouraging to see the ask at 0.012 and no huge bid dumping
Well Jazz, we "got the attention of the trading community" that I kept blabbing on about for months! That's great. And the first step to really get this thing moving up and staying up, and to support the company at the same time.
Well done to you sir for all your tireless efforts personally in helping LKEN and all of us to move in the right direction!
Ed! You've worked hard here in supporting us all and LKEN, I'm really pleased to see that your buys in recent months are paying off already! I know you did your best to support the stock for the good of everyone, and I'm really pleased you are in a nice position now we have all this action and new interest. Well done!
Well, looks like the stock community has noticed us! First part of what we need to go up and stay up!
Now we just gotta keep their attention, time for the Inkway Launch and other big events to unfold.
Things looking good for a start though!
Just keeping the facts straight, good or bad is all I try to do here.
Exactly! 100% spot on :)
That information is ridiculous and incorrect. Perhaps you are confusing a DTC "LOCK" with a "CHILL" they are two different things.
hundreds of stocks have their chills removed all the time, ECDP, QDSL, COWI, and CBIS all had their chills removed just in the last few months. And they are the ones that I recall just from memory.
Typically the company does have to make the effort to contact the DTCC to kick of the removal process though, and there are lawyers out there who specialize in this as well. Hopefully LKEN is engaging with someone about this.
Actually, uplisting to the OTCQB market tier doesn't require that the DTC chill be removed. Having said that though, the chill is a bigger issue than market tier imo so it is imperative that they get it removed.
Hope you're doing well Jazz, thank you for the updates on LKEN!
I know in all of my brokerages there is an option called a "Special Condition" or "Order Option" where you can select "Only fill blocks of at least 10,000 shares" etc. And you can change that number to anything you want to.
So for LKEN you could put in an order for 50,000 shares and have a special condition that says "minimum quantity 10,000" which means it wont fill you anything unless its at least 10k shares.
The plus side of this is that you wont ever get burned with 1 share bid whacks. the downside is if there are several sells throughout the day of say 5000 share blocks....you wont fill any of those.
here is what the order screen looks like in Schwab: http://clip2net.com/s/6uW6N3
In Think or Swim its called an "order condition" and in DAS Trader its called an "Advanced Order Option". I'm not sure where you would find it in Scot, but I'm sure it is there somewhere.
This is really good news Kenolova, It's really great that Lenny himself will be meeting with the retailer as well. He is so passionate about his products I'm very sure he will be able to put on a really good presentation of what is already a great product.
They are some really good things Jazz, I'm looking forward to seeing them unfold! Looks like we are in for a very positive start to 2014.
I'm more than sure its just a "normal" shareholder selling 1 share on the bid, it wouldn't surprise me if it was some disgruntled shareholder from this board.
It is very frustrating though, I've been there myself....I'm the highest bidder and someone sells you 1 or 100 shares but you still have to pay commissions.
If you have a limit order though then you will only pay a single $7 fee even if someone sells tiny amounts to you at various times throughout the day (for example today they did it to you twice) but because its all filling on a single order you will only get hit for a single $7 fee.
Still frustrating and wrong though.
Oh I see, great thank you! And thanks for sharing. It's a shame that even when confronted with absolute proof, there will always be people who just don't accept it.
Thank you for sharing the photos of the storage facility Kenolova.
Just out of interest, where did you get these photos from, and why is Mr Greene showing a newspaper?
thanks!
Oh I'm 100% sure too. I have no doubts that the company itself will do well.
I would say my only concern point is the stock side of the business. Without buzz and excitement in the investment community nobody will get to hear of LKEN stock, which is why I'm very hopeful that there are plans to create such buzz.
We can all be part of that as well, getting the word of the Launch and other developments out to the trading world.
I very much doubt its market makers themselves, its likely just somebody wanting to keep the share price down but not wanting to sell many shares to do so.
It's called "painting the tape" and people can do that for many reasons.
It could well just be a disgruntled shareholder that wants to keep the price low to say "I told you so"
Thank you for that explanation, very informative! Well done on your business acumen as well, starting your own small refill station is a great idea!
LKEN preparing to uplist to OTCQB is a really great move. QB is definitely the natural course of progression for LKEN, because although it does have some slightly stricter listing requirements thank the Pink Sheets, LKEN does meet the criteria from a business perspective.
QB is the OTC market designed for "Venture Stage" companies, that are developing...exactly what LKEN is. The fact that there are stricter listing requirements for QB listed securities, and that the vast majority of them report to the SEC, means it is a marketplace that has better quality companies than the Pink Sheets. Investors know this and see QB companies as legitimate.
In the future, the choices for uplisting to a bigger exchange become wider, however these come with various listing requirements which stipulate minimum levels of shareholders, share price, revenue, market cap etc etc. However, listing to the lower tiers of a big national exchange like NASDAQ or NYSE certainly wouldn't be out of LKEN's reach if Inkway USA is a success.
Here are what the options would be (in order of listing standard requirements...lowest first):
OTCQX: http://clip2net.com/s/6tkePh
NASDAQ Capital Market Tier: http://clip2net.com/s/6tkibY
NYSE MKT tier: http://clip2net.com/s/6tjWMC
Any move to these National Exchange (NASDAQ & NYSE) will require a tightening up of the share structure, but if that is done then the other requirements are certainly within reach.
Personally I would love to see a move to the NASDAQ market, the listing requirements of the "Capital Market" tier match up well with what I think a small but growing company like LKEN can achieve with a successful Inkway USA, and it's a market that is used to, and in fact openly encourages, smart new startups.
Either way, an uplist to OTCQB soon would be a great start!
Hi Venture,
Congrats on selling your already having resold over 50 kits. Please forgive me if I am not as up to date as I should be on this, but how did you obtain these kits? It was my understanding that all the distributors would merely be tasked with selling the kits, and they would be shipped by Inkway out of Inkway's own facility.
Thank you very much!
Hi Ken,
I see you got the image uploaded, good job and thank you
that's certainly what I believe has happened. Look at the percentage of the company owned by retail shareholders 2 years ago and compare it to now.....public shareholders own a tiny percentage of the company now as management bonus themselves in shares and conduct private deals...all diluting the company while the shareholders sit there with their shares representing ever smaller ownership of the company.
It is a different launch this time, the launch of the Inkway USA multi level marketing campaign. I think the one from 2 years ago was the company trying to sell FreeInk4Life over informercials?
They have decided to make the Inkway kit and direct sales approach their flagship product and this is the launch we are referring to.
It has suffered some delays though as you see from some of the discussions here, and has been delayed from Nov 2013 until "asap".
Duane Noble is no longer with the company, it seems he has been gone for around a month or two.
yip, said this a year and a half ago.
Oh for sure, we both just want to see this thing be successful for all. We dont have to agree on 100% of things :)
I agree about lost sales, and I'm disappointed we didn't launch by now as well.
I'm hopeful that we launch soon. When "soon" is...only the company can tell us
I really just don't agree, there are a lot of little known OTC companies who are doing well fundamentally but their stock is in limbo. Sadly in penny land you need both things to maintain a strong stock.
I disagree that a fanfare at launch isn't important. Nor will the stock price take care of itself. LKEN stock has fallen off the radar, that's why regardless of what news comes out our stock doesn't move. We need publicity for the masses to hear about the launch and that LKEN stock exists.
You mention we need good product and good marketing. I agree, but I believe good publicity from launch and onwards is part of that marketing.
I'm saddened too that it appears that launch may not be til Jan now...I really hoped we would see a December launch to get that Christmas rush on the product sales and its also a good month in penny stock land too.
But i would have hated it if we launched on Nov 30th with just an email saying "we have launched" because it would just be a non-event for the stock.