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Absolutely a company can go BK after only being publicly traded for 10 months.
If you don't know about stocks, stay the hell away from over the counter bulletin board stocks and pink sheet stocks. don't touch anything unless its nasdaq or new york stock exchange listed and over $5.
Just because you like their drink doesn't mean the company's stock is a good investment. A company with a good product can be a horrible investment if the company's executives are greedy, bad managers, careless, or fradulent.
STAY AWAY FROM PENNY STOCKS. Save the money you'd lose investing in the stock to buy the product you like. At least then you'll get some enjoyment for your money. Regeneca is just a pyramid scheme from what I can tell.
usually companies like this don't have enough cash to file for BK....they just shut up shop and the characters set up another POS with another name.
vivk owns 15% of regeneca which they were supposed to have distributed to shareholders in early may, but no one got any shares that i know of.
vivk and regeneca have alot of the same characters involved, and if you dig into those characters', their track records are very poor. vivk has mislead a lot of shareholders and not followed through on promises and claims. be careful. jmo, good luck!
60% is nothing! i think it'll drop another 60% before we get a meaningful run. chart looks like s***
1)has anyone called the company? 2) has anyone spoken with Dr. Fuja or Matt Nicosia?
based on their latest 10-q they are hardly selling anything! they announce a $1.5M order and whatd they post for revenue, $150K? Sorry i dont care to take the time to look at it again to post the actual amount.
if u find out their address, i'll chip in. also swing by Vivakor will ya?
wish u were right but thats what every penny stockholder says. nothing ever happens because no one has the money to take them to court, nor do the crooks have enough to go after and the sec has too many frauds to follow.
SEC needs to get better. Sh** like this shouldn't even be allowed to trade let alone out put PRs with lies with no one paying the price while we get wiped out.
dude, they are selling into any bid. face it man, we are fked. i had hoped from .01 to .10 type run, but I don't even know if they can come up with creative enough news to make it run that high. at this point they are running out of stuff to put in PRs.
its the size of the market for a product that isn't established. hell they can, and probably will change the market size to $100M! Amazing how the market size can more than double for a product in weeks lol
i hope i'm wrong for your sake as you, like i, have gotten rocked by this POS, but there are just too many free shares floating around out there and the latest PRs by management reak of desperation. Its going to go down, not up, imo.
they did issue over $100K in convertible debt that converts at like a 50% discount to the price. So no matter where the price is, the seller is making double their money. Those are who can profit, as well as all these damned third party pump and dump campaigns someone keeps paying pump and dump sites to pump VIVK. Those sites get free shares----you think they want to cash out to get paid or ensure VIVK is a long-term success? lol
good luck to us both then! hopefully we make back some money here.
it just needs to get down to a level that fits the amount of dilution this is going to take....which i think will be .01 or less. then they will come out with some $5M B.S. contract or something and it will run like crazy. Just my opinion. Keep in mind it will be painful to watch this go to .01---its about a60% drop from here---a lot of people will throw in the towel.
i could see this thing going under .01...but then being a ten bagger. we'll see...
I find it hard to believe Excelsior Management truly will buy stock for twice what it could buy it for on the open market. The only reason they might do it is if they are already a huge holder of the stock and want to ensure the safety of their larger investment.
Atlanta is right---its just a Letter of Intent. Nothing binding from what I can tell. Excelsior could have bought some at .03-.035, signed a LOI and if the stock doesn't run to .10, they'll back out, imo. given the recent price and volume activity, it doesn't look like the stock is going to see .08+ anytime soon unfortunately.
It will also be interesting to see what price the debt was converted to equity at. hoping to see an 8-k filing soon.
if you are looking for some of Adfitech's 8% senior notes, there are some available for .77 on the dollar. The cusip is 00687BAA3.
atlanta, you still holding? i am but am wondering if its best to put this on a junk bond and look for a double there rather than hope for a double here to come close to breaking even. this thing really smells bad---no dividend paying out, very little q1 revenue even though that shipment to regeneca was reported on 3/31 and the fact they are issuing death spiral financing to pay the bills. The last, and worst, was the pulling of the VRW news on their website. I wish these guys would come honest because right now we are in a relentless sell-off and now its becoming more clear why someone maybe have been shorting this.
yeah and the amount of death spiral financing issued thus far has been minimal----BUT----how will they raise funds in the future? If they raise a million bucks of convertible debt on these terms, we are screwed.
The following is from the 10-q. It is the definition of death spiral financing. The amounts they have issued are very minimal, but if they keep issuing this crap, we'll see sub 01. This is a beacon for shorts:
Page 12 of the 10-q:
"On April 27, 2010, the Company entered into a $30,000 convertible promissory note. The note bears interest at 8% per annum, matures on January 28, 2011 and, at the holder’s option, may be converted into shares of common stock. The conversion price is generally equal to 58% of the average of the lowest three closing bid price on the Over-the-Counter Bulletin Board in the ten day trading period prior to the date of the notice of conversion. This note also has anti-dilution provisions such that the conversion price may be reduced in the event the Company issues or sells shares at a price below the conversion price. The note may not be prepaid without the holder’s consent and is subject to a prepayment penalty. The Company has reserved 1,989,390 shares of common stock to provide for the issuance of shares upon the full conversion of this note.
On May 14, 2010, the Company entered into a $27,500 convertible promissory note. The note bears interest at 8% per annum, matures on February 17, 2011 and, at the holder’s option, may be converted into shares of common stock. The conversion price is generally equal to the lower of $0.03 or 58% of the average of the lowest three closing bid price on the Over-the-Counter Bulletin Board in the ten day trading period prior to the date of the notice of conversion. This note also has anti-dilution provisions such that the conversion price may be reduced in the event the Company issues or sells shares at a price below the conversion price. The note may not be prepaid without the holder’s consent and is subject to a prepayment penalty. The Company has reserved 2,750,000 shares of common stock to provide for the issuance of shares upon the full conversion of this note."
Also, page 8-9:
"5. Convertible Notes Payable
On February 4, 2010, the Company entered into a $50,000 convertible promissory note. The note bears interest at 8% per annum, matures on November 4, 2010 and, at the holder’s option, may be converted into shares of common stock. The conversion price is generally equal to 58% of the average of the lowest three closing bid price on the Over-the-Counter Bulletin Board in the ten day trading period prior to the date of the notice of conversion. This note also has anti-dilution provisions such that the conversion price may be reduced in the event the Company issues or sells shares at a price below the conversion price. A discount was recorded in an amount equal to the fair value of the beneficial conversion feature which totaled $36,207 at March 31, 2010. The note may not be prepaid without the holder’s consent and is subject to a prepayment penalty. The Company has reserved 2,105,265 shares of common stock to provide for the issuance of shares upon the full conversion of this note.
9
--------------------------------------------------------------------------------
On March 29, 2010, the Company entered into a $60,000 convertible promissory note. The note bears interest at 8% per annum, matures on December 26, 2010 and, at the holder’s option, may be converted into shares of common stock. The conversion price is generally equal to 58% of the average of the lowest three closing bid price on the Over-the-Counter Bulletin Board in the ten day trading period prior to the date of the notice of conversion. This note also has anti-dilution provisions such that the conversion price may be reduced in the event the Company issues or sells shares at a price below the conversion price. A discount was recorded in an amount equal to the fair value of the beneficial conversion feature which totaled $43,488 at March 31, 2010. The note may not be prepaid without the holder’s consent and is subject to a prepayment penalty. The Company has reserved 3,154,980 shares of common stock to provide for the issuance of shares upon the full conversion of this note."
the 10-q shows they are getting their funding through death spiral financing. its been in small quantities thus far, but if they raise like $1M on those kind of terms, we are screwed. it also may explain where the "shorting" came from.
i like the fact that the volume is drying up---it means whoever is selling is relenting, or at least pausing. if someone wanted to crush the stock price, they could do so since the volume is low, but it appears as though they aren't. Its easier to find buy volume(with good PRs) than stop sell volume. imo.
well the company needs to raise money anyways. id rather them sell into the float for a limited time frame than do a big convertible debt issuance which causes a death spiral financing and then the stock price can never recover. a convertible debt issuance can convert at around a 50% discount to the lows. it just begs the debt holder to short it down to get a ton of cheap shares.
thus far, vivk has only done limited amounts of convertible debt issurance this year according to the 10-k. however, if they are working out a new convertible debt issurance, maybe the PERT market maker is shorting it down because they have the convertible debt which is the collateral to short against. aka it isn't a naked short since they can convert the debtenture whenever they want to.
you're right i don't know for sure. but how does the volume go from tens of thousands or hundreds of thousands of shares per day to millions a day while the stock price keeps dropping and people like you and i keep buying? id rather have be the company selling shares to raise money than someone shorting a penny stock with little convertible debt that is betting against the company and knows more than you and i wouldnt u?
guys, given the steady volume to the downside, i think its safe to say that the company is selling shares. hopefully to raise money, but i don't buy the short selling theory. that is too often used as a cop out move by otcbb companies.
Not a combined 60k i believe, at .06 though. already down on those shares even!! this thing's a falling knife and the co. has already shot its wad as far as PRs.
I added some----not sure why?? lol
the third party paid 1.7M shares which obviously was way too damned much. That's over $170K value based on the past few days VWAP. What a crock.
its safe to say warren buffet's strategies don't apply to penny stock investing/gambling.
hope it doesn't hit .05 because then its a double just to get back to .10 where we were at 2 days ago. the chart looks like hell and is far from oversold, fwiw.
man i hope you are right. the macd and rsi on the daily look sickly.
u think its PSC selling their free shares? I can't believe they got paid 1.7M shares! And VIVK isn't even one of their profiled companies!
back down to .079. Whoever is selling through PERT is relentless.
finally moving! keep buying! lol eom
this name @ hotmail.com. I sent u an email but it wanted me to click on a link to verify my identity. i dont click on links in emails.
When did you speak with him? Perhaps he got new information between when you and I talked with him?
Re: Regeneca distrbution: I spoke with IR today and he said the record date was as announced. If you buy the stock tomorrow, you won't get any distribution of Regeneca shares. That sucks as the Regeneca shares will have some value, especially for a company such as this that has such a small market cap.
The good thing here with VIVK is there is essentially no convertible debt out there. That being said, the daily chart looks like crap and .068 likely won't hold.
whats this PSC (site) everyone keeps talking about? Could it be they are being paid to promote the stock and the pump and dump is over? Hope not because I want to see .10s before .03s!!