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News of MoviePass shut down came on Friday, afterhours. The market will react accordingly on Monday.
This will drop to .0001 on Monday. That's a 94% drop upcoming.
This is what happens when your operation is solely funded on selling shares.
The Spectacular Rise and Fall of MoviePass. GAME OVER!
With the offering price being only .30 and to close at .325, an 8% over, I'd say the underwriters were/are pretty smart, not to mention the executives at Martello who brokered the deal. An "Overnight Offering" seemed to be a smart move as well. Did some research on such an offering cause I've never heard of it.
http://capitalmarketalerts.com/equity-series/overnight-offerings/
Hopefully the money will be spent on something that helps the SP.
Investor Day may turn out to be a hit.
9/20 Annual Meeting
9/24 Investor Day
Yeah...my new thoughts are...Just lay low. Whatever happens, happens. Don't use money you can't afford to lose. Lol
Back to the man cave for a few weeks.
Will it hold its gains? Will the 10K spoil the "run"? I'll check back after the 10k drops to see if SGMD is the real deal or if the fluff PR's were the boost.
"In order to make some money as an investor one needs to be thinking clearly and rational"
So that means everyone who's losing money on this POS is not "thinking clearly and rationally"?
"If you were rational and thinking clearly you would be putting some money down at these low prices"
For what? A reverse split will reduce my shares to dust.
"It’s because of K&J Funding and SGMD raising money for 4 acquisitions."
Heard that lie for over a year. First they were "recognizing", now they are just in the fund raising round. Red flags galore.
Talk to you in about a month. GL
This POS can't even hold a 30% gain...which should be an indicator that it's not for investing purposes, but for flipping.
10K coming out this month...wonder how bad the numbers will be.
Anyone who's been in the stock market long enough knows how the OTC and the companies within the OTC operate. The only ones who think this POS has a chance are newbs and manipulators.
I can't say how soon, but this POS will reverse split at some point, just like all the other OTC tickers in this price range.
I can't believe all these huge real institutions are missing out on this "gem". That's because it's not a gem. Jimmy keeps throwing that $70 million number out there, and he's been doing that for awhile now, just to keep the interest alive.
#reversesplitbeforeonedollar
More than likely to see .14 before we see $1
That's what caused the drop...they raised $15 million. Time to head back north.
Bruce and Terry are co chairmen. Bruce has a lot of say, but I would say Terry has more...Terry has 40 million shares (20% owner), Bruce has 3 million shares (roughly 2% owner)
Who said they need a tax expert? The have one of the biggest accounting firms already...Deloitte.
(clapping)
We moved down!
1000 volume!
Maybe I have an idea of what's going on, but it's just a thought...
The only other dual listed ticker that matches price for price is Acreage Holdings.
Acreage US ticker is ACRGF
Acreage Canadian ticker is ACRG-U.CN
They both trade at the same price.
The Canadian ticker uses the letter "U" which stands for "US Dollars"
A few weeks ago brokers received word that DRKOF will transition to MTLO.V, "V" also means "US Dollar (second issue trading)"
So maybe, once MTLO drops to .33 to match DRKOF's last price, or someone buys DRKOF at .39 to match MTLO's current price things will take effect.
symbol source info:
https://www.quotemedia.com/quotetools/symbolHelp/SymbolHelp_US_Version_Default.html
Roller, you should try to buy some DRKOF at .39 to see what happens...if the trade will go through :)
Maybe perhaps this ticker wasn't supposed to be active, and my questioned brought it to their attention that it was active...how knows. Something is not right.
I find it ironic that there was no volume after I popped the question about drkof being updated. I hope we weren't duped. The lady did seem a slight defensive with her response about their lawyers are working on it. Maybe something bad happened between martello and the prior company they did the reverse takeover with.
This was announced during the conference call and published via their PR.
"Investor Day
Martello will host an Investor Day in Toronto, Canada on Tuesday, September 24th. The event will be hosted by Martello CEO John Proctor and Co-Chairmen Sir Terry Matthews and Bruce Linton. Interested brokers and analysts can register to attend on Martello's website."
I'll hang in there until at least .55 Don't want to sell for a loss. And even if it gets to .55, there's no guarantee I'll be able to sell at that price due to the grey sheet no bid/ask quote.
To add to the price difference...
There can be 0 volume all day but by the end of the day, there will be enough volume based on algorithms and conversion rate to reflect the MTLO price.
So with MTLO currently down .395 (10%), DRKOF will drop according to the conversion rate and whatever algo is put in place. Could be set where a 500 DRKOF sell volume matches the CAD/US rate. But there will be some phony volume by the end of the day guaranteed.
"what feeling did you get from conference call?"
One caller who seemed to be from a financial institution kind of implied the Mitel could acquire Martello.
They did tout the Investor Day several times...once by the operator and at the end by John.
Overall, nothing major.
Well until the ticker is fixed, we bear the burden of MTLO. Maybe someday the US ticker will carry the load. I'm going back to sleep :)
MTLO is down 10% already so DRKOF will move soon enough to the downside.
Based on SEDAR filings, I didn't see anything "special" about the meeting. Just the same as a basic Annual Meeting.
Next catalyst will be "Investor Day" September 24th. Brruce will be there. Lol
Lol. Their lawyers are working on it.
Mitel might acquire Martello in the future.
I'm on the conference call...trying to ask a question about the US ticker. If you're on the call and want to ask a question, and get a chance to ask a question, ask about their plans for DRKOF.
:)
Martello released earnings. Conference call about to start...Canada/USA Toll Free: 1-800-319-4610
Investor Day
Martello will host an Investor Day in Toronto, Canada on Tuesday, September 24th. The event will be hosted by Martello CEO John Proctor and Co-Chairmen Sir Terry Matthews and Bruce Linton. Interested brokers and analysts can register to attend on Martello's website.
Conference call at 8am est
Canada/USA Toll Free: 1-800-319-4610
I'm about to call in.
Investor Day
Martello will host an Investor Day in Toronto, Canada on Tuesday, September 24th. The event will be hosted by Martello CEO John Proctor and Co-Chairmen Sir Terry Matthews and Bruce Linton. Interested brokers and analysts can register to attend on Martello's website.
Business Highlights
During the first quarter of fiscal 2020 Martello achieved the following milestones:
Martello moved up 20 spots on the widely respected Branham300 listing of Canada's top ICT (Information and Communications Technology) companies, after debuting on the list in 2018.
The Company announced a partnership with GuestTek to deliver reliable high speed internet access (HSIA) to some of the world's most respected hotel brands.
Martello showcased a proof of concept developed in collaboration with BlackBerry QNX which demonstrated that Martello's technology could maintain network connectivity for mobile IoT applications such as autonomous vehicles.
Martello extended its relationship with longstanding customer Leiden University Medical Center (LUMC) in the Netherlands, to provide a solution improving the performance of hybrid cloud-based services.
Subsequent Activities
Subsequent to June 30, 2019, Martello achieved the following milestones:
Responded to demand for IT Service Assurance Solutions for Large Enterprises and MSPs by teaming with Paessler AG, to simplify IT service assurance for complex IT environments.
Announced that global IT service integrator Onepoint purchased a three year subscription to Martello's software for a single service-oriented view of their infrastructure, improving their quality of service.
Partnered with Suria Business Solutions, a provider of IP Telephony and Unified Communications & Collaboration (UCC) systems, applications, service and solutions to more than 500 customers in Malaysia and Indonesia.
Conference call at 8am est
Canada/USA Toll Free: 1-800-319-4610
I'm about to call in.
Investor Day
Martello will host an Investor Day in Toronto, Canada on Tuesday, September 24th. The event will be hosted by Martello CEO John Proctor and Co-Chairmen Sir Terry Matthews and Bruce Linton. Interested brokers and analysts can register to attend on Martello's website.
Was just about to post this. Lol
Drop is due to the latest prospectus. The "seller" is probably doing just that. One he is done, should go back up. JMO
Yesterday afternoon Martello filed information pertaining to the Annual/special meeting. It will be held on September 20th.
All the info is on SEDAR.
https://www.sedar.com/search/search_form_pc_en.htm
Yesterday afternoon Martello filed information pertaining to the Annual/special meeting. It will be held on September 20th.
All the info is on SEDAR.
https://www.sedar.com/search/search_form_pc_en.htm
Lol. Someone can make the same case for Anheuser and Tilray. Bud is the king of beers. It's all about branding. Those with a brand name will survive...those without a brand name will fade off into the sunset.
In which case, the actually product manufacturer will capitalize. We know about Marlboro (Philip Morris) but we could careless about the farmer who supplied the tobacco.
We know about beer (Budweiser) but we could careless about the farmer who supplied the barley.
The commodities traders care about tobacco, barley, etc. Eventually that's how weed and hemp will be treated. Commodities traders will care about the weight thus the price of MJ/hemp, while equity traders will care about the companies using such ingredients/fibers
What's the shelf life of MJ? Does MJ lose its potency overtime? If so, this will lead to a lot of wasted crop...or a lot of people getting sick from using expired product.
You are right. And many, many people are over looking that. Everyone is rushing to capitalize on the craze that there will definitely be an over supply.
Marijuana and hemp...hemp will have its many uses, while mj will have limited uses.
Each country will have their own supply and demand. I don't think there will be any need for importing and exporting mj/hemp.
2 states can probably supply the whole US.
With commodities...earnings, thus companies don't matter...do you ever hear about the farm or company growing soybeans or grain? Commodities are a whole different ballgame...it's based on the commodity itself.
Marijuana will eventually be treated and traded as a commodity.
MJ will eventually be traded as a commodity which will then thin out a lot of small growers...only the big farms will survive...it's kind of just like tobacco. Tobacco is a traded commodity which is slowly dying.
I guess the $4 million market cap is due Helios business and not Moviepass, cause Moviepass is worthless.