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.
For those keeping count, the 8K issuances add up to over a billion old shares, in a little under two weeks.
Yes, a B.I.L.L.I.O.N.
Lock him up.
The Q3 results are now out, and again John is the only winner - he took his $52,500 in salary, plus an additional $40,000 for past failures, while the company managed just under $3,600 in revenues ... yep, his compensation was more than 25x revenues!
At least the report confirms that the PG&E system has been delivered.
I still think that the 3rd quarter will be a bust but if they have shipped the complete system we should get to see $1.5 million in 4th quarter revenues, at a minimum. Hopefully the system will be assembled properly and will work as advertised. (I say that because, in the past, we have come to the big dance, promising big things but failing miserably).
Ha! John released this within two hours of my (joke) 10-Q wording:
We received a purchase order from a utility company for a wastewater system that includes multiple V-Inline Separators. The customer has paid multiple deposits in 2018 and during the first nine months of 2019 totaling approximately $1.5 million that is reflected on our balance sheet as “Deposits from customers” at September 30, 2019. Due to customer delays, the project has been extended beyond the September 21, 2018 due date. We anticipate delivering this system by the first quarter of 2020.
A big win today for irony and sarcasm!
Now we need to hear about a large new order flow and we can return to double digits.
Quarterly should be out in the next day or so - have to assume that it will be a nothing burger. My best guess:
<< We received a purchase order from a utility company for a wastewater system that includes multiple V-Inline Separators. The customer has paid multiple deposits in 2018 and during the first nine months of 2019 totaling approximately $1.5 million that is reflected on our balance sheet as “Deposits from customers” at September 30, 2019. Due to customer delays, the project has been extended beyond the September 21, 2018 due date. We anticipate delivering this system by the first quarter of 2020.
Meanwhile, our CEO has continued to reduce our dwindling cash resources by unilaterally repaying himself accrued compensation for those years when he awarded himself in excess of $25,000 a month in salary without any equivalent level of performance. >>
How's that working out for you?
<< I hope so because I got back in yesterday >>
Shame that you don't have that on tape so we can get some jail time for this creep as well as his sponsor.
Lock THEM up!
A ridiculous episode of GoonTV yesterday - the crook is still trying to associate himself with the emerging "5 trillion water business" and name dropping all sorts of companies: McDonalds, Uber, Airbnb ...
It looks like they are desperate to initiate further rounds of "private placements" which by necessity will have to be far more generous than those offered in the past - it will have to be "new" money from "new" investors as they have wiped out everyone that has ever invested in them in the past and no one is sucker enough to be defrauded twice.
It was a mistake to give the "VP of Business Development" (Ken B.) a segment. It was pathetic to watch a boiler-room promoter read a prepared script without the faintest idea of what it is that the company (the operational folks, that is) is even attempting to do.
It is so sad that knowledgeable and decent professionals that actually try and perform for this company are subjected to this humiliation on a daily basis. They must go home every night and throw up into the sink.
Lock him up.
Just so that you know that you are dealing with totally honest and ethically sound folks running this company, here is their published business ethics statement:
B. CODE OF ETHICS FOR THE CHIEF EXECUTIVE OFFICER AND SENIOR FINANCIAL OFFICERS
The Company’s Code of Business Conduct and Ethics is applicable to all employees, officers and directors of the Company. The Chief Executive Officer (CEO) and senior financial officers of the Company, including its chief financial officer and principal accounting officer, are bound by the provisions set forth therein relating to ethical conduct, conflicts of interest and compliance with law. However, in addition to the Code of Business Conduct and Ethics, the CEO and senior financial officers of the Company are also subject to the following specific policies:
The CEO and senior financial officers are responsible for full, fair, accurate, timely and understandable disclosure in the periodic reports and other filings required to be made by the Company with the Securities and Exchange Commission. Accordingly, it is the responsibility of the CEO and each senior financial officer promptly to bring to the attention of the Board of Directors any material information of which he or she may become aware that affects the disclosures made by the Company in its public filings or otherwise impairs the ability of the Company to make full, fair, accurate, timely and understandable public disclosures.
The CEO and each senior financial officer shall promptly bring to the attention of the Company’s Audit Committee and/or the full Board of Directors any information he or she may have concerning (a) significant deficiencies in the design or operation of internal controls which could adversely affect the Company’s ability to record, process, summarize and report financial data or (b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s financial reporting, disclosures or internal controls.
The CEO and each senior financial officer shall promptly bring to the attention of the Board of Directors and/or the Audit Committee any information he or she may have concerning any violation of the Company’s Code of Business Conduct and Ethics, including any actual or apparent conflicts of interest between personal and professional relationships, involving management or other employees who have a significant role in the Company’s financial reporting, disclosures or internal controls.
The CEO and each senior financial officer shall promptly bring to the attention of the Board of Directors and/or Audit Committee any information he or she may have concerning evidence of a material violation of the securities or other laws, rules or regulations applicable to the Company and the operation of its business, by the Company or any agent thereof, or of violation of the Code of Business Conduct and Ethics or of these additional procedures.
The Board of Directors shall determine, or designate appropriate persons to determine appropriate actions to be taken in the event of violations of the Code of Business Conduct and Ethics of these additional procedures by the CEO and the Company’s senior financial officers. Such actions shall be reasonably designed to deter wrongdoing and to promote accountability for adherence to the Code of Business Conduct and Ethics and to these additional procedures, and shall include written notices to the individual involved that the Board has determined that there has been a violation, censure by the Board, demotion or reassignment of the individual involved, suspension with or without pay or benefits (as determined by the Board) and termination of the individual’s employment. In determining what action is appropriate in a particular case, the Board of Directors or such designee shall take into account all relevant information, including the nature and severity of the violation, whether the violation was a single occurrence or repeated occurrences, whether the violation appears to have been intentional or inadvertent, whether the individual in question had been advised prior to the violation as to the proper course of action and whether or not the individual in question had committed other violations in the past.
The real question, of course, is:
Are we going to make it a full quarter without a single sale?
(wouldn't be the first time!)
Yes - we heard all this "news" months and months ago ... the new PR / promotion team is pushing out a stream of old news to revive the pump and sucker new folks in.
In about a week we'll get to see the 3rd quarter 10-Q which will almost certainly feature: 1. a decline in revenues, year over year; 2. appalling operating losses; 3. massive EPS loss; and 4. a balance sheet that will have you screaming for a barf bag.
The document itself will have maybe 3 or 4 pages (thousands of words) covering the recent history of conversions, private placements, equity / debt offerings etc. - I can't think of anyone in their right mind that will actually go through this convoluted nonsense. I stopped trying to keep score months and months ago and the share count has probably doubled or trebled since then ... and, who really knows what is still out there, ready to take advantage of the 50% discount to the lowest traded prices.
Just know that there was a good reason for them to quietly increase the authorized (old) share count to 16 billion.
Lock him up.
So, in your opinion, a headline like this is not part of a pump? LMAO
OriginClear CEO, Riggs Eckelberry Aims to Take Water Treatment from $1 Trillion to $5 Trillion
Don't forget that they signed up with a new bunch of stock promoters so this is their money at work (actually, they are probably paying them with newly issued stock certificates as the only person that actually gets cash is the CEO himself)
<< I just want to say there cannot be a pump and dump when there's only two or three people talking about origin clear on this message board with only 3 post a day. >>
I think this is all part of an orchestrated P&D. I reckon we'll be at single digits by the end of the month. At least another million shares (two billion old shares) yet to be converted and the printing press is still working night and day.
Lock him up.
I would flip 'em fast, if I were you. Billions of (old) shares yet to be converted, so don't be fooled by the price which is a consequence of small buys with low volumes. When the dumping starts in earnest again, we'll be back to single digits in a matter of days.
Maybe he reads his emails?
Even if they wanted to do the "right thing" (I'm not actually sure what that is), they are essentially a slave to months and months of utterly dishonest money grabbing and its associated consequences - a mountain of overhang and probably the worst balance sheet I have ever seen.
Coupled with that, they stand no chance of even approaching an operating profit as they have a ridiculous and bloated cost structure. Finally, they have their governance structure which allows the CEO to enrich himself and wantonly destroy shareholder value without any accountability at all.
It does take balls to pontificate with a straight face about ESG fund investment! I'm not sure of the precise statistic but I would say the chances of a fund manager, with investments in American Water Works (market cap around $22 BN) and other "responsible" companies, making even a dollar investment in OCLND are greater than a million to one.
How about their captive supply agreement that was meant to generate millions in revenue? I think they've only got three quarters left of guaranteed exclusivity.
I'm sure they are collecting wages, and some are even collecting back wages!
<< Piece work for any Aerospace company? Piece work for anyone? Turning brake rotors? Programs written for SLB parts work done? Collecting wages? >>
So, there it is - the new 8-k: half a billion (old) shares in conversions in less than two weeks in October!
Also, I've just learned the real reason for the 1:2000 reverse split: they are so happy with how they are doing and the numbers are right on track.
Source: GoonTV
And I thought it was because hundreds of millions of shares were changing hands every day at $0.000095 and $0.0001
I stand corrected
Also, we are missing an 8-k covering October activity in the issuance / conversion / make-good department.
I would have to assume that it will have to be equal to or worse than September's filing which reported 1.6 billion new shares, or roughly 800,000 of today's shares. They will probably drop something on Friday after the close in a ridiculous attempt to avoid detection.
"LOCK HIM UP" "LOCK HIM UP" "LOCK HIM UP"
Just about every investor has lost between 95% and 100% of their investment. Meanwhile the CEO "pays" just about everyone with worthless stock certificates, except for himself as he makes sure that he banks $30,000 in cash every month. His ten cent investment in the Riggs Preferred issuance ensures that he controls 51% of the vote, so he is untouchable and accountable to no one.
"Lock him up!" "Lock him up!"
I will feel very relieved when I hear that our large utility system has shipped!
<< Shares of PG&E Corp. plummeted on heavy volume to a record low Friday, after Citigroup warned that the latest California wildfire, which the utility may have helped start, could render them worthless. PG&E (PCG) said Friday that it filed an incident report with the California Public Utilities Commission (CPUC) regarding the “Kincade” fire, which broke out near Geyserville in Sonoma County. “Kincade increases the probability of a zero share price.” — Citigroup analyst Praful Mehta, in a research note. >>
The Dean of water speaks:
<< What happened to OCLN?
As I was saying, on Friday we took steps to streamline our capital structure, in what is known as a reverse stock split.
For about 20 days, we will be on the temporary ticker symbol OCLND. After that, we will be back to OCLN as before.
We believe it is a positive and necessary move. >>
He, of course, still controls 51% of the voting shares for his $0.10 investment. I think this might be a barrier to investment from ESG funds!
OK- I'm starting a pool:
How many trading days until the closing price is in single digits?
(the equivalent of $0.000045)
My answer: 22
Maybe they are hoping that no one will notice!
I don't know anything about these folks, but my advice to them is: make sure you are fully paid, IN CASH, prior to performing any work for these crooks
https://finance.yahoo.com/news/originclear-inc-engages-networknewswire-123005236.html
Actually, it is 30K a month:
<< CEO is a con man,he pulls 20K a month >>
How is the current GoonTV program any different from Don's prior fraudulent activities?
<< The Securities and Exchange Commission ("Commission") deems
it appropriate to institute public cease and desist proceedings
against Donald A. Baillargeon ("Baillargeon"), individually and
doing business as Emerging Company Report ("ECReport"), pursuant
to Section 8A of the Securities Act of 1933 ("Securities Act").
In anticipation of the institution of these proceedings,
Baillargeon has submitted an Offer of Settlement ("Offer"), which
the Commission has determined to accept. Solely for the purpose
of these proceedings and any other proceedings brought by or on
behalf of the Commission or in which the Commission is a party,
and without admitting or denying the findings herein, except that
Baillargeon admits the Commission's jurisdiction over him and
over the subject matter of these proceedings, Baillargeon has
consented to the entry of this Order Instituting Public
Proceedings Pursuant to Section 8A of the Securities Act of 1933,
Making Findings and Imposing a Cease-and-Desist Order ("Order")
and to the imposition of the cease-and-desist order set forth
below.
II.
On the basis of this Order and the Offer submitted by
Baillargeon, the Commission finds that:
A. Donald A. Baillargeon, a resident of Los Angeles,
California, has produced a cable television show called
"Emerging Company Report," an ECReport web page, and an
ECReport newsletter (collectively, the "ECReport Media")
from 1997 to the present. Baillargeon is solely responsible
for the content of the ECReport Media.
B. In addition to producing it, Baillargeon is also a co-
anchor of the ECReport television show. That show runs on a
weekly basis and is re-broadcast four times each week.
"Emerging Company Report" is shown on more than 140 cable
television systems in more than 125 cities.
C. From at least May 1997 through September 1998,
Baillargeon committed or caused violations of Section 17(b)
of the Securities Act in that, by the use of means or
instruments of transportation or communication in interstate
commerce or by use of the mails, he published, gave
publicity to, or circulated notices, circulars,
advertisements, newspapers, articles, letters, investment
services, or communications which, though not purporting to
offer a security for sale, described securities for a
consideration received or to be received, directly or
indirectly, from an issuer, underwriter or dealer, without
fully disclosing the receipt, whether past or prospective,
of such consideration and the amount thereof.
D. As part of and in furtherance of such conduct and
activities, Baillargeon publicized more than fifty
securities in the ECReport Media. Baillargeon sold to the
issuers of these securities "guest appearance packages,"
which included a ten-minute guest appearance for the issuer
on one ECReport television program, one-minute "vignettes"
of the guest appearance on the next three programs, and
updates on the issuer's stock price on the next thirteen
programs. The package also typically included a company
profile in two issues of the ECReport newsletter and three
months of internet site promotion and linking from the
ECReport web page. For some issuers, Baillargeon also
agreed to provide a national press release via Business
Wire.
E. As part of and in furtherance of such conduct and
activities, Baillargeon received, directly or indirectly,
compensation ranging from $2500 to $17,000 for each guest
appearance package sold. Baillargeon did not disclose in
the ECReport Media the amount of money he had received from
the issuers to publicize their companies and stock.
F. As part of and in furtherance of such conduct and
activities, Baillargeon also received, directly or
indirectly, compensation in the form of stock from two
issuers publicized in the ECReport Media. Baillargeon did
not disclose in the ECReport Media that he had received,
directly or indirectly, compensation in the form of stock,
nor did he disclose the type, amount, or value of the stock
he received.
III.
In view of the foregoing, the Commission finds that it is
appropriate to impose the sanctions specified in the Offer.
Accordingly, IT IS ORDERED, pursuant to Section 8A of the
Securities Act, that Baillargeon cease and desist from committing
or causing any violation and any future violation of Section
17(b) of the Securities Act.
By the Commission.
Almost 150 million dumped today at $0.0001 or below. Who is buying this junk? Billions more still to come.
I don't have a big enough calculator to work it out exactly, but it looks like around 1.6 billion shares issued in a month. Please make it stop.
<< Consultant Issuances
Between August 30, 2019 and September 30, 2019 the Company issued to consultants and one employee for performance an aggregate of 686,364,767 shares of the Company’s common stock for services.
The securities referenced above were offered and sold pursuant to an exemption from the registration requirements under Section 4(a)(2) of the Securities Act since, among other things, the transactions did not involve a public offering.
Conversion of Notes
As previously reported, the Company entered into agreements by and between the Company and various investors by which investors hold convertible promissory notes convertible into shares of the Company’s common stock. Between August 15, 2019 and September 24, 2019, holders of convertible promissory notes converted an aggregate principal, interest and make good amount of $82,700 into an aggregate of 826,999,585 shares of the Company’s common stock.
The securities above were offered and sold pursuant to an exemption from the registration requirements under Section 4(a)(2) of the Securities Act since, among other things, the transactions did not involve a public offering.
Make Good Issuances
In connection with certain one-time make good agreements, between August 30, 2019 and September 30, 2019, the Company issued an aggregate of 103,532,723 shares of its common stock to certain holders of its common stock. >>
More double-speak on yesterday's GoonTV segment:
https://moneytv.net/
He was "South of the border" and "doing deals!" ... "which are still very much in the air" !!
The 3rd quarter numbers (to be issued 11/15) will be: "very, very appropriate to what I've been saying all year long!"
In other words, garbage.
Looks like he attended the Trump School of Contradictory Communication:
<< 3rd Quarter done — How are we doing?
On the call, as our 4th Quarter begins, I will be reviewing the company's performance and outlook.
Please note that I cannot give formal guidance for Q3 just ended, as those numbers are still being reviewed. >>
I don't think anything can be done to salvage this company.
and the Twitter feed is still active:
https://twitter.com/ABrighterGreen
Has 1267 followers currently
It says that 448 people follow the page:
https://www.facebook.com/PacificSands/
Am wondering whether anyone follows the company on Facebook as they seem to be fairly active with postings (that don't seem to get a huge response)
Actually, it doesn't look like there was any fanfare at all - hopefully, they bought a slice of pizza for all the hard-working employees
Well, they are ...
<< No company should be trading this low unless they are scammers or idiots that they are only good at taking small investors money. >>
I would say that there is a next to zero chance. The company can't walk and chew gum at the same time and seems incapable of doing more than one thing at once ... so, there is no inventory of finished goods, nor any work in progress in anticipation of future orders, and the actual production of equipment seems to take forever.
So, anything that is "urgent" cannot be responded to (unless you are willing to wait a couple of months or more).
While the balance sheet is just about the ugliest I have ever seen, I fail to understand how anyone in their right mind would invest in a company with these operating metrics:
(6 months to date)
Revenues: $1,756,965 (32% lower than last year equivalent)
Cost of Goods: $1,547,311 (88% !!)
Sales & Marketing: $837,507 (48% !!)
G&A Expenses: $1,171,314 (67% !!)
If we add in the nominal R&D expense and depreciation, the total OPERATING loss is $1,871,760 which means that for every dollar of revenue they generate, they actually lose $1.11 on an operating basis. By the way, the CEO (who doesn't even understand the technology) paid himself a salary at just over 10% of revenues for the 6 month period.
Now, they also lost five and a quarter million dollars on interest and conversion charges ($6 million in Q2) and of course have billions more that have already converted or are available for conversion.
Finally, it is worth noting that they have more than TWENTY TIMES as many shares in the EPS calculation at 6/30/2019 than at 6/30/2018.