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Spongetech sold real sponges too, didn't make them any less of a scam.
Yes, technically you are correct, however effectively it's the same. Shareholders will receive less shares than what they held previously, and there will likely be plenty of room left to dilute above what is issued initially. Your assumption that the PPS will appreciate as opposed to falling is largely unfounded. When the new shares are issued and investors realized their will be room for additional share issuance they could very well have the same reaction you see during a typical reverse split.
It's all pointless anyways as there's absolutely no way this company, or any other entity formed by current management, will ever trade on a major exchange. Even if they are talking about the NYSE MKT (fka AMEX) which has a lower financial standard they'll never meet the Corporate Governance and Compliance requirements. This is nothing but an attempt to start a whole new cycle of dilution and racing under another name.
Start from the Qualitative Standards paragraph at the link below and you'll see why this is just another in a long list of promises that will never be fulfilled:
http://usequities.nyx.com/listings/list-with-nyse/nyse-mkt-listing-standards
Issuing less shares of a company than what you already own is what again? He will issue share of the new company pro-rata to existing BBDA investors. In order to even consider maintaining a PPS over $4, his stated goal, he will need to issue shares on a MUCH smaller scale than the 2.5 billion outstanding today. The end result, existing shareholders own less shares post-transfer than they own in the existing company.
The ONLY difference between what he has announced and a traditional reverse split is that instead of owning LESS shares of the company you already own, you will own LESS shares of a newly formed company. NOT calling this a reverse split would be spin.
Anyway, last post of the day. You should all enjoy this short-term spike in PPS before reality sets in and it all comes crashing down IMO.
Minimum requirements include a $4 PPS and $40 million market cap. There are also historical earnings requirements that must be met as well. There is absolutely 0% chance that this company will be eligible to list on the NYSE in the near future. You have to see this for what it is, a backdoor into a reverse split.
That's exactly what you get when a company reverse splits as well. A horse by any other name...
Or better yet he could provide a list of pinksheet companies that conducted a RS and actually ended up listed on a major exchange. The list is short. On the other hand, the list of pinksheet revers splits that result in bagholders getting the shaft is very long indeed, BBDA being a prime example.
Read today's update. He clearly reads these boards and is aware of the questions posed.
No need to spin. The CEO just told you he is reverse spliiting.
If you can't see the train coming down the tracks then I'm not sure what it will take to wake you up. He just announced another reverse split, albeit a cleverly disguised one, and you're praising him for it.
For those of you that think that getting this new company listed on the NYSE might be an actual possibility, I suggest you do a little research on the minimum criteria to EVEN BE CONSIDERED for listing.
http://usequities.nyx.com/regulation/listed-companies-compliance/listings-standards/us
Meeting those just puts you in contention, it doesn't guaranty a listing.
No, he did not say it was a 1:1 share transfer. He said you would receive shares pro-rata. So, if you own 1 million shares today, or .02% of the outstanding shares you'll receive .02% of the newly issued shares initially. So if they start with 1 million OS shares you'll get 200, which would mean you own the same amount of the OS as you do here. The problem is that he will quickly start issuing new shares after the conversion and your ownership % will drop significantly.
No, they didn't. They're backdooring their way into another reverse split. Audits on a newly formed entity with no sales or any other type of transactions is worth exactly how much? The CEO is trying to avoid getting his historical financials audited because he's afraid they would put him in jail if an accounting firm ever got a hold of those things and reported their findings to authorities.
LOL. He just formally announced that they're shutting down this POS shell for good so they can start selling shares in the newly formed entity. Good luck to those of you that hold on.
Sounds like desperation that due to lack of demand he is being forced to dump all his inventory to thrift stores and charity. Nobody is buying these products apparently.
You notice that nowhere in the PR did it mention the product being "sold" in Walgreens. It stated that it will be available. More than likely this is BW offloading more of the excess inventory sitting in his warehouse for charity. I doubt BBDA will see a dime from this aside from some tax benefits.
He has a chance to answer. He can provide all the answers people are looking for via the same PR mechanisms he uses to make grand statements that rarely if ever materialize.
CEFCO appears to be closing the book on Koma. I stopped by 2 different locations this week and one was no longer stocking it while the other had one lonely row of the sugar free version in the bottom left corner. I'm fairly certain CEFCO was the biggest order BBDA ever received and they're not re-ordering. Why? Because there is simply no demand for these products.
You're not fooling anybody. You stole that plot directly from BW's last press release, almost word for word.
The good news is that you'll be able to lower your average cost pretty soon! I kid, I kid...kinda.
Assuming BIEL has secured the cash they needed to pay their bills for another month the pre-FDA meeting run should start in the next week or two.
MM games.
Take a look at the warning on the bottom left of the can.
http://www.amazon.com/Koma-Unwind-Relaxation-Drink-Regular/dp/B007WDXV18
Anything that "relaxes" you (dulls your senses) is dangerous while driving a normal car, let alone a race car. I'm sure he's lying about actually drinking it and it was just a shameless plug, but he's setting himself up for trouble by telling people he took something containing meltonin prior to driving in a race.
Is he really that ignorant? Bragging about downing a can of sleep aid prior to climbing into a race car? I wouldn't be surprised if he gets his racing qualifications pulled for that.
Has anyone contacted the TA recently?
Dilution.
Nobody begrudges the man his passion, it's his use of investor moneys to fund it that angers people. If he wants to start a racing team and take it public then fine, those people would know that their money was being used for that purpose. He could start a kickstarter campaign or something if he wanted. Selling shares in drink company as a cover for supporting a hobby is where it all goes wrong.
But when you're dealing with a company that's already been proven to be a member of the 1% the idea of close to perfect is thrown out the window in most rational people's minds.
Soft drinks have a relatively short shelf life because their sweetners lose their taste over time. Diet soft drinks usually expire much sooner than regular ones because artificial sweetners lose their flavor at a faster rate. Neither are dangerous to consume past their expiration date, they just taste like crap.
The TA numbers are accurate as they are the one who release additional shares when issued. The Wyoming SoS numbers are only updated when the CEO files an amendment. Nobody would be questioning the accuracy of the TA numbers if they were available.
There is also no proof that he has not diluted above the A/S presently due to the TA being gagged. That is a fact.
As mentioned numerous times there is precedent for the CEO issuing shares in excess of the amount authorized per the Wyoming SoS. That number is not reliable.
Great, so come October I'll expect to see a myriad of pictures showing Koma occupying actual shelf space. If not, then we'll know this was all a dog and pony show.
Show us some pics of Koma occupying permanent shelf space in Walmart as opposed to temporary displays and people might be impressed.
Confirmed by whom? The picture linked to earlier seems to have been deleted already. For all we know they could be moving the same display from one Walmart to the next in the hopes that somebody busy this stuff.
Wow, look at those crowds. I guess it's confirmed now that at least one person stopped by the booth.
There will never be an audit under the current CEO because he would be forced to prove the numbers he makes up are actually real. 0% chance you will ever see audited fins for BBDA while current management is in plaace.
Right, because I'm sure whatever he tells you would be 100% truthful and without hint of bias. Pinksheet CEOs never tell potential vict...I mean investors what they want to hear. There is plenty of verifiable information out there that clearly shows a pattern of activity for the CEO and his associates, but it's obviously a better idea to ignore that and take the man at his word. Bernie Madoff would have loved you.
Are issuing shares of a public company to pay a private debt dirty enough for you?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55346837
Google "Bebida" and "Chris Hoffman". Why must everybody else do your research for you?