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Yup. Going to see how this plays out. The Chinese like to manipulate stocks upward, so even with a split this has a good chance of being very profitable.
Yeah. I didn’t ask detailed question. I figured disclosure laws would prevent him from answering. I just wanted to make sure they were still working on filings, which they are.
He was actually a nice guy once I got him on PM.
It was one of the directors. I’m PM you, but I don’t want to post it here because I don’t want people to pester him. I contacted him on a social media account and I don’t think he was initially happy about it, but he did answer my question via private message.
I finally got ahold of someone from the company. Obviously they couldn’t share much, but the person told me they are still working on becoming current with the SEC. The process for a delinquent company to become current is more than just filing quarterly reports, but everything is still moving forward.
We will see if they go ahead with that. They will have to pay Nevada $35,000 to increase authorized shares to that amount.
I used the contact us on the website and asked a bunch of questions. This was his reply:
“Are you interested in Ameritrust Stocks?
I am very sorry. But we sold 100% shares already.
I think you may invest when individual shareholder want to sell his/her own shares.
Thank you for your interesting.
from Ameritrust”
Thank you for your interesting!?!? WTF.
Agree 100%
Yeah, I don’t buy they have those assets.
We will see if this even happens. It is going to cost $35k for him to change the A/S count to 10 trillion.
Look at page 7 here.
https://www.nvsos.gov/sos/home/showdocument?id=664
Yeah, the shell. I honestly have no idea what is going on. The website is anything but clear. On one hand it looks like the business model is raising funds by selling shares to finance the projects, but some other parts of the website make it seem like this company actually owns the buildings.
I hate that the website looks like it was done by an amateur. If this company had billions in revenues, the website would look more professional and have address spelled correctly.
I also don’t know why the shareholder statement and Ameritrust Fins on the website say they are simulated financials.
Anyway, I have emailed every email address I could find for this guy and also email Lombardo to try to get some insight into what actually is going on here. I bought today a .02. Tried to pull my order after the split was announced, but couldn’t get it done in time. At this point I may just double down, especially if I get a response for these guys.
April 27th.
Pretty sure these audits are for simulation purposes. If you look at the Ameritrust shareholder statement it specifically states that financials are simulated. It’s even states
“The financials statements of Fushun Bank used to simulate the financials of this company were pulled off the Fushun Banks public website.” Or something to that effect.
https://img1.wsimg.com/blobby/go/00ca710c-5c0b-4f77-b046-c05bfea58753/downloads/7)%20%20All%20Shareholders%20of%20Ameritrust%20Corporation.pdf?ver=1586285316642
Where are you gettin the post split 7.5 trillion shares outstanding number from?
It’s authorized shares, not outstanding. As I said before they more than likely had to raise the A/S that high due to conversion rules. If preferred share is convertible into 100,000 common shares, then they would need 10 trillion a/s.
April 27th if they choose to go through with it. They still can cancel the split per filing.
“ 6. Directors Abandon Plan. The Directors are authorized to abandon the Reverse Split set forth in this Plan of Recapitalization and Amendment at any time prior to the Effective Date, whether before or after approval of the Shareholders of the Corporation.”
I was in RARS, now WBWB. The also had a change of control and did a 1-10 reverse split. After split price was .06. It went to $1.25. Sometimes companies do a reverse split to wipe out the old principals that may hold shares.
The positive thing here is they have no debt so they aren’t doing a reverse for toxic note holders. I would be surprised if this stock doesn’t hit .75-$1 a few months after the split is processed.
Float is going to be 5 million. 20 million shares will still be restricted.
5 million float is a lot easier for them to manipulate upwards than a 50 million float. This will be over a dollar a month after the split.
The only reason it is 10 trillion is because they need enough A/S to cover the amount of shares that would be issued if 100,000,000 preferred shares were converted. They also could abandon the R/S if the choose.
10-1 isn’t that bad.
I don’t think there was enough traded for them to go through all the trouble re-registering their shares with the SEC. Not to mention it would be extremely risky and stupid to do that.
It probably is just the CoronaVirus that is delaying the filings. Maybe we will see an 8k or another filing soon.
I just emailed Jolie Kahn, who was listed on the letter to the SEC as a person for the SEC to contact. Let’s see if she responds.
8K out now states the following
“ As of the date hereof, the authorized common stock of the Company on the date hereof is 5,000,000,000; (b) the number of shares of capital stock issued and outstanding as of March 25, 2020 is 182,986,717 ;”
No mention of an upcoming reverse split like the last filings. I believe the split is no longer going forward at this time.
I’ll buy at .01
Hasn’t happened yet so FINRA must have an issue with something.
I’m jumped in at this level. 90% of OTC stocks trade this way. Big gains and then pull back for a few weeks. This will be back above .02 soon. Accumulating at these levels is a must.
Good for you.
You, so pissed I missed them too. One seller putting in a market order. Probably needed money due to Chinese Virus.
No doubt. Can’t believe someone just put in a market order. I guess they needed money bad. Probably lost their job due to China Virus.
Good luck. I got .008’s.
Insiders own half the outstanding shares. Why would they wipe out their holdings? You seem pretty clueless
Once we break .041 we should see .05 fairly quickly.
I agree. There is no need for a reverse split except to wipe out current shareholders and I think FINRA is cracking down on that.
Not to mention the new CEO was involved in a company who’s CEO was busted by the SEC for fraud. He didn’t get charged, but I wouldn’t doubt if his association with that company throws up a red flag with FINRA.
Yeah, you were right all along. Glad I sold back in the $2’s. They need to follow Liberty and Trulieve’s business plan. I think it is possible for them to turn it around, but they sure don’t instill confidence. Major miscalculation on with their business plan.
Just saw this on Twitter. Another company cancelled their R/S because FINRA refused to recognize the reverse merger. I think they are cracking down big time on these otc companies.
$WTKN RS is going to be cancelled, from last nights filing. As well as reinstatement back in NV. https://t.co/t9a3SxEUYx pic.twitter.com/Fvy8mxHwBb
— Lee (@ldev117) February 25, 2020
May they should work on becoming SEC compliant and bring their financials current first. Obviously FINRA is having some issues with this companies Reverse Split.
Yeah, they probably spent upwards of $100 million to launch their CBD business. I would consider those notes to be part of the debt, but it is highly unlikely that GGB agrees with me.
I don’t like how they don’t let us know what the purchase price of their CBD Unit is. I would also like to know what how much debt is being passed on with the sale.
I called it. They are selling their CBD unit. I wonder what they got for it!