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Nice new website with lots of information about their scanner and company.
Take a look: passivesecurityscan.com
Where does your 700K salary information for the CEO come from? I can't find it in the 10K's or 10Q's. Source???
Thank you Jazzy!
Agreed, can you please remove your Sticky jazzy
Short Interest was 32,900 shares for DTII in October, up 961.29% from 3,100 shares previously reported by FINRA.
Enter DTII to see report
Freeman High School shooting: Reports of up to six injured with suspect in custody
At least three people have been injured after shots were fired at Freeman High School, with reports suggesting up to six had been taken to hospital.
DTII scanner greatly needed. #DTII
Co-Founder Jiffy Lube International, Inc.
No thanks to microwave scan for kids...
If you would read the 10Q filings, you would know that DTII signed a merger deal with Defense Technology Corporation in July 2016, which was rescinded in Oct 2016.
From the 10Q:
"PASSIVE SECURITY SCAN INC.", PSSI
On January 12, 2017, the company founded Passive Security Scan, Inc. (PSSI), which is incorporated in the state of Utah. It transferred to this entity a license to commercialize its Offender Alert Passive Scan. Later on, the company sold 34.62% of PSSI to several investors with DTII still owning the remaining 65.38% of PSSI. We were interested in how much this license is valued in the balance sheet of the DTII. We found this information in the last quarterly release, where the license was still in the financial accounts; $378,600.
https://insiderfinancial.com/defense-technologies-international-corp-otcmktsdtii-reduces-its-financial-risk
Nice article in Insider Financial regarding DTII:
Defense Technologies International Corp (OTCMKTS:DTII) Reduces Its Financial Risk
Mods, nice job on the iBox!
Reverse Splits Aren't All Bad
Not every company's going for fewer shares at higher price points ends badly.
Show us proof that a product or prototype doesn't exist.
10K is due the end of July, unless they file NT 10K; then they must file within 15 days from the date of the NT 10K. Elementary stuff really.
To learn when filings are due: Deadlines For Filing Periodic Reports
Company's fiscal year end is 4/30, so if one adds 3-months for a quarter, report will be out end of July. Nope, not late on filing. IMHO a real OTC player would know this. SMH
Why does iBox have DTC images and website stuff on it? That relationship was rescinded per the 8K dated 10/21/16. Can the moderators clean this up?
Fundraising for the start of production; great news!
Per bilrip via telecon: "There was a claim that the conversions are also part of the fundraising for the start of production."
This should mean that the mess left over from the DTC rescinded acquisition agreements are cleaned up, and now DTII/PSSI is in fundraising mode to start production of the scanners for demos and orders, under the new license agreement that DTII signed with the inventor in Oct 2016.
Per the 10Q: "Subsequently, the Company and DTC mutually agreed to rescind the acquisition of DTC and entered into a Rescission Agreement and Mutual Release (the "Rescission Agreement"), dated October 17, 2016.
In connection with the Rescission Agreement with the Company, DTC rescinded its agreement with the inventor and developer of the technology and assets that were subject to the original agreement between the Company and DTC. On October 19, 2016, the Company entered into a new Definitive Agreement with Controlled Capture Systems, LLC ("CCS"), representing the inventor of the technology and assets previously acquired by DTC, that included a new exclusive Patent License Agreement and Independent Contractor agreement. Under the license agreement with CCS, the Company acquired the world-wide exclusive rights and privileges to the CCS security technology, patents, products and improvements."
DTII fiscal year ends 4/30 according to OTC Company Profile; so plus 90-days puts the 10K due in late July (oh, just like the other 10K's they filed in the past). SMH
"Shareholder value" is a myth...
...and a sound bite used by inexperianced investors and bashers. Corporations were created to make it possible for humanity to pursue long-term projects. Modern corporate law is really clear that boards of directors have the discretion to do anything they think is in the best, long-run, interest of the company.
How does a corproation raise money? By issuing bonds, selling common stock, issuing Prefered stock, borrowing, or using profits. From the 10K: Management plans include raising the necessary capital to continue the development of the defense, detection and protection technology and conduct all sales and marketing activities... So why wouldn't DTII sell common stock in persuit of these long term goals? To "Screw over innocent investors", really???
DTII has had license to manufacture the scanning system from the Inventor since October 2016, not even one year; as the deal with DTC was cancelled per the 10K, and who knows what all got messed up by that sequence of events. We know via PRs and the 10Ks that DTII is in the final stages of production, that they hired Mark Taggert for marketing, that they have reduced corporate debt by 500K. We also know from various stock analysis that this stock is oversold, has been heavily shorted, and that the reverse split, which was cancelled, caused a large drop in the share price. We have also observed much market manipulation by MMs of late.
Daily whining about a company and its management, who has publically stated specific long term goals, does nothing but make the whiner appear immature and publically a amatuer investor at best. Buy, hold, see what happens in a few months, and if you don't like it, sell your position and move on. SMH
DD: DTII
Moderators: Why does the iHub Intro box have DTC information on it?
According to the 03/22/17 DTII 10Q, the acquisition of DTC was canceled: "Subsequently, the Company and DTC mutually agreed to rescind the acquisition of DTC and entered into a Rescission Agreement and Mutual Release (the "Rescission Agreement"), dated October 17, 2016.".
Further the 10Q states: "In connection with the Rescission Agreement with the Company, DTC rescinded its agreement with the inventor and developer of the technology and assets that were subject to the original agreement between the Company and DTC."
So it appears that DTC no longer has the tech and wasn't acquired by DTII.
From 10Q: "On October 19, 2016, the Company entered into a new Definitive Agreement with Controlled Capture Systems, LLC ("CCS"), representing the inventor of the technology and assets previously acquired by DTC, that included a new exclusive Patent License Agreement and Independent Contractor agreement. Under the license agreement with CCS, the Company acquired the world-wide exclusive rights and privileges to the CCS security technology, patents, products and improvements. The term of the License Agreement shall be from October 19, 2016 until the expiration of the last to expire of the licensed issued patents or patents to be issued.".
From 10Q: "Effective January 12, 2017, Passive Security Scan, Inc. ("PSSI") was incorporated in the state of Utah as a wholly owned subsidiary. The Company has approved the merger of its wholly-owned subsidiary, Long Canyon Gold Resources Corp. ("Long Canyon"), into PSSI, with PSSI the surviving entity. The merger will not be effective until the articles of merger are filed with the state of Utah. The Company transferred to PSSI its exclusive world-wide license to the defense, detection and protection security products previously acquired by the Company (see Note 3). As discussed in Note 3, 34.62% of PSSI was acquired by several individuals and entities. The Company owns the remaining 65.38% of PSSI.".
From 10Q: "On January 15, 2017, the Company transferred the License Agreement to PSSI in exchange for 15,000,000 common shares of PSSI, or 65.38% ownership. The Company plans to continue the development of the technology and conduct all sales and marketing activities in PSSI.".
More DD on PSSI: https://secure.utah.gov/bes/details.html?entity=10218599-0142
Wouldn't it be more beneficial for visitors to iHub for the Intro box to have DTII information vice the cancelled DTC information? For example, this information: www.defensetechnologiesintl.com/projects.html