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Perhaps they will "recognize" another "new" opportunity. They are very good at that. Not so good at capitalizing on it. I remember the numerous opportunities from last year and the $1,100 in sales.
They are very good at "identifying" opportunity, but a little short on follow through.
Plus a 50% discount..........
Have you read the 10???????????
Posible they could loose control of the company?
Don't forget about the premium.
Under FASB ASC 505-10 Equity : Overall, the Company must disclose that the settlement alternatives are at the control of the Lender and that there is a potential for an infinite number of shares having to be issued, although the Lender has elected to limit its beneficial ownership to less than five percent unless the Company receives proper notification that the Lender will at any time convert either part or all of the loan to shares.
From the 10, only half through conversion.
Under FASB ASC 815-40 Contracts in Entity’s Own Equity, the Company must review the possible conversion features under the agreement’s variable price conversion options, which create a derivative in the possible settlement choices of the Lender. As of March 31, 2016, the stock pricing feature for Note A above which provides a 50% discount to the market would have increased the stock necessary to settle the conversion if requested to approximately 1,043,688,000 shares. The Company has calculated the value of this additional liability to be $1,095,872 and has recognized a change of earnings for the effect of such a conversion through March 31, 2016. Additionally, the conversion features on Notes B through G above would have increased the stock necessary to settle the conversion feature on these Notes to approximately 169,682,768 shares. The Company has calculated the value of this additional liability to be $161,515 and has recognized a change of earnings for the effect of such a conversion through March 31, 2016. Total derivative liability was $1,257,387 and $825,712, as of March 31, 2016 and December 31, 2015, respectively. As of March 31, 2016, the derivative liability is classified as $79,261 under current liabilities and $1,178,126 under long-term liabilities. As of December 31, 2015, the derivative liability is classified as $76,955 under current liabilities and $748,757 under long-term liabilities.
Massive dilution, charts, lvl 2 and fancy initials are meaningless.
And growing by the minute. With LOTS more to come.
Wont be surprised to see .0000
Charts and Lvl2 mean nothing in the middle of multiple note conversion. MM's will jump in and out to raise the cash they are seeking. The management of this company have literally stomped on their own dick.
Here's a juicy for you, some of these notes convert at a 40% premium.
There isn't enough paper to print the shares required to meet their obligations. $1,100 in sales. Keep your money in your pocket.
There is no money. What else could they do?
Still lots of shares to come. A/S may have to be adjusted again to satisfy whats hanging over them. The "Toxic" may turn lethal.
Flipped? At 2/10000 of a cent, minus commissions, how many shares do you have to sell to make any money?
Come in right after the reverse. You may find some profits.
Oversold? The printing press used to create shares being issued is operating 24 hrs a day. You can't over sell an endless supply.
The notes being converted are at value plus a huge premium. At 1250 shares for a dollar, the flood gates are open.
The sad thing in all of this is they had much better financing options but refused to use them. A few here tried to tell the truth of what was happening but the board cheerleaders would just scream "basher" and threaten to call the FINRA or the SEC, well fools get on the phone. I'm here to tell you there are many, many more shares to come and when the dust settles there will be a whooping reverse split. If they survive, they don't call it "Toxic Finance" for no reason, then there may be some money to be made. With companies like this, only the last in stand to take any profits.
Note plus 40%. Citadel has lots and lots of shares to move at this price.
Whats really real, this board was dead until the conversions, money owed plus premium, started.
Flipping for 0.0001 wont even pay commissions. Lets be real.
Oh look, volume up, price down. That is selling pressure. Hopefully we get through this before long.
How is suggesting the market makers don't want to destroy the stock BASHING?
Not anymore, I converted some time ago for significantly fewer shares than I could have gotten today.
Conversion allows you to sell the value of the note plus premium. They will sell until satisfied.
All I'm saying is there are still many shares to be issued to cover the remaining notes. One of them was mine. The MM's will do it in such a way as to not damage the PPS to badly. I lived 3 blocks from the cubicle they rent in the old bank building on Trent Ave. and am sure I know as much about what goes on as any outsider. When I first bought in there were 10 mm shares look at it now with more to come.
Lots of shares to sale to cover the conversions, many millions more to come. They will be in and out. Why own shares of a company you've just run into the ground?
Not to worry, multi millions more shares to be dumped.They just ease up to avoid running it into the ground before they are done.
Solid Foundation? There are endless shares for sale, hence the 2 BILLION A/S. If these notes are ever chewed through you can expect a serious reverse split screwing existing shareholders into the ground. If you must own this stock, wait until this mess has run it's course. Sad they choose to move forward this way, They had much better options.
Just some observations and thoughts. We are approaching a point where as many shares have traded as exist. With the stock price always trending down. Even I, a not so successful trader, don't try to "trade" a stock with a chart that trends from 9 cents to .001?. I am one of the original MIPS holders, so I've had this thing for some time, and know many of the large holders. I can't find anyone who is selling, the "short interest" is nearly 0 which leaves me to wonder what the hell is going on?
I've held this stock from the beginning, through subscription and notes. The current management refuses to say anything other than watch the 10"s / 8's, so I'll pose my question here. With only 25% of the AS out, why quadruple the AS? Will this not send the stock into a dive that will be the end of it? It's been suggested the the Exec's are "ethical" for taking stock over salary, or there must be something good coming. Perhaps there just isn't any money to pay them.
I'll stop by next week and maybe take the janitor to lunch, who knows what might be heard while pushing a mop......
Their office space is just a couple blocks from my house. I have friends in the same building (used to be on AWGI's board). The most you can get from Jeff or Kieth is "Watch the 10"s", but I can tell you that people from "out of town" are there frequently and the phone rings continuously.
One can only hope..........
I've held this stock since June of 2008, Your guess is as good as anyones.
When the Rooneys were charged the company was also charged. Any resolution to that?
"The SEC's complaint alleges that the defendants violated Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and 10b-5(c). The SEC is seeking permanent injunctions and civil money penalties against all three defendants, as well as penny stock bars against both Patrick and John Rooney and an officer-and-director bar against Patrick Rooney."
Go to the drip pan of your furnace and have a big gulp, you will immediately know the difference.
Hey aapples, Us dumb guys are wondering if you've got lvl II up and watching for the next "misprint".