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I guess the ceo is done pumping this stock with his fake mission statement about increasing shareholder value. I got duped. I don't mind losing money on a stock that simply fails businesswise, but to lose on a stock due to a total bullchitter ceo is the worse. And let's not forget the 30,000 dollar raises they gave themselves despite issuing more CDs. I hope he gets run over by a truck.
Let's not forget they gave themselves huge raises. Justify that while they are still issuing convertables.
They're raising a lot of capital in a short amount of time. I hope it's for the acquisition. Why else would they need 250,000$ in a month? If not, they just leveraged the future and any rise in PPS.
With all the capital they are raising, either the acquisition is about to take place or we're screwed.
In one month they issued approximately 250,000$ worth of convertables. Great company.
From the Q:
NOTE 21 - SUBSEQUENT EVENTS
During March and April 2014, holders of convertible notes converted $41,022 in accrued principal and interest into 11,652,330 shares of our common stock.
On March 5, 2015 we issued a convertible promissory note in the principal amount of $36,750. This promissory note bears interest at a rate of 8% per annum and is due on March 5, 2016. The note is convertible at a 38% discount of the average of the three lowest closing bid prices immediately during the 15 days preceding the date of conversion. At no time may the holder of the note convert the note into shares exceeding 4.99% of the Company’s then outstanding common stock shares.
On March 9, 2015 the Company entered into a securities transfer agreement with an accredited investor as well as a current convertible note holder. The agreement called for the accredited investor to purchase $30,000 of the current convertible note holder note to repay our former CEO. The Company issued to the accredited investor a convertible promissory note bearing interest at 8% and convertible at a 38% discount of the average of the three lowest closing bid prices immediately during the 20 days preceding the date of conversion. At no time may the holder of the note convert the note into shares exceeding 4.99% of the Company’s then outstanding common stock shares.
On March 9, 2015, the Company entered into a 4 months investor relations contract. The Company issued 2,000,000 shares of its Common Stock as payment for this contract.
On March 11, 2015 we issued a convertible promissory note in the principal amount of $88,000. This promissory note bears interest at a rate of 12% per annum and is due on September 11, 2015. The note is convertible at a 38% discount of the lowest closing price immediately during the 20 days preceding the date of conversion. The Company also paid an OID in the amount of $6,000. At no time may the holder of the note convert the note into shares exceeding 4.99% of the Company’s then outstanding common stock shares.
On March 25, 2015 we issued a convertible promissory note in the principal amount of $50,000. This promissory note bears interest at a rate of 10% per annum and is due on September 25, 2015. The note is convertible at a 38% discount of the average of the three lowest closing bid prices immediately during the 20 days preceding the date of conversion. At no time may the holder of the note convert the note into shares exceeding 4.99% of the Company’s then outstanding common stock shares.
On March 30, 2015 we issued a convertible promissory note in the principal amount of $32,000. This promissory note bears interest at a rate of 8% per annum and is due on March 30, 2016. The note is convertible at a 38% discount of the average of the three lowest closing bid prices immediately during the 15 days preceding the date of conversion. At no time may the holder of the note convert the note into shares exceeding 4.99% of the Company’s then outstanding common stock shares.
On April 7, 2015 we issued a convertible promissory note in the principal amount of $27,500. This promissory note bears interest at a rate of 12% per annum and is due on April 7, 2017. The note is convertible at a 38% discount of the average of the three lowest closing bid prices immediately during the 20 days preceding the date of conversion. The Company also paid an OID in the amount of $6,000. At no time may the holder of the note convert the note into shares exceeding 4.99% of the Company’s then outstanding common stock shares.
On April 8, 2015 we issued a convertible promissory note in the principal amount of $58,000. The company received net proceeds of $50,000 with the balance of the note going for finders fees and processing fees. This promissory note bears interest at a rate of 8% per annum and is due on April 8, 2016. The note is convertible at a 38% discount of the average of the three lowest closing bid prices immediately during the 20 days preceding the date of conversion. At no time may the holder of the note convert the note into shares exceeding 4.99% of the Company’s then outstanding common stock shares.
From November until February, approximately 80 million stocks were added. I'd say that was a pretty substantial amount of dilution in a very short amount of time. If we were still at 154 million shares, we'd be at a PPS of .02 -.03
The ceo would be the greatest piece of turd if he issues another "...increasing shareholder value..." PR
The ceo would be the greatest piece of turd if he issues another "...increasing shareholder value..." PR
Yeah I admit I was suckered in by his bullchit. They can't even get their webpage up. And how can he give himself a 30,000$ raise while issuing numerous 25,000$ convertables? My only sliver of optimism is that the acquisition is a done deal and that's why he's leveraging. Other than that, the ceo is a piece of turd.
and to top it all off they gave themselves raises. BS CEO touted he was anti dilutive when he was still issuing convertables. Worst type of CEO in pennyland.
The company is not perfect, however, there is some potential if they can get the pps up. That will happen with an acquisition and if they can eventually turn a profit. Leveraging stocks is the only way in penny land. 230 million shares isn't that bad, but they did dump a crapload in the last few months, which is why the stock dropped. They need to pay off the debt holders from the previous CEO. The acquisition is key.
If the company can raise PPS to around .03 to .04 then the convertables will be a mere speed bump. They need to get this acquisition done for us to really fly.
I thought Hamre was an honest and forthright CEO, which is why I invested, but it's apparent he tends to exaggerate. Remember the 500 million railroad project? His schtick is getting old. I'm kinda dubious about the financials now that the cfo's keep revolving. Plus an audit in the near future seems like a pipe dream. I'm waiting for an uptick to cut my losses and move on. Good luck to us all.
Yah I get the feeling this deal isn't happening. There are time constraints on every business deal, because factors such as the price of oil, metals, interest rates, etc. all affect the numbers. I remember back in May things were supposed to be moving quickly. That was seven months ago. More than half a year since then and we've only received vague updates. Last time he said hopefully before the new year. Well, the new year is upon us and still nothing, as usual. I don't believe they Hamre is a straight out fraud, but he likes to expound on the truth. Coffee, oil, farming, railroad, trucks, hotels...seems like they got their hands in everything yet their hands are still empty.
The spike in volume recently is likely share dilution from restricted shares to common going on the market. That's probably why the PPS dipped. Who has restricted shares? Management. I've seen it happen before. Unfortunately, I'm in too deep to sell now.
Having a conference call gives me hope, however, that management is trying their best to be transparent. On the other hand, it might be a horse and pony show to settle investor nerves. But like Mik said, there's no pressure for them to have these deals come to fruition; six months from now, if the PPS goes to crap, a bunch of new investors will step right in.
Richard, you keep saying you just spoke with IR but you never have details. Instead you attack Mik for bringing information to the board. AMMX has announced numerous deals in the works, yet none ever came to fruition. At this rate, we're headed sub penny again and I'm beginning to think AMMX is just another pinkie. Of course I can sell and get out, but I'd be taking a nice loss at this point. I for one wrote IR and have yet to hear back from them.
If you read back the IHUB posts for the past six years or so, you will see that there was a time when everyone on the board was excited about big deals in the works also. Those deals never came to fruition. Perhaps it was the economy, or the deals just went sour, whatever. All I know is that Mik's been around a while, and if you guys don't appreciate his opinion, stop replying and he said he'd leave.
Almost as vague as who your daddy was.
Howdy people. First post, been in this stock for a few months. Check out this link regarding China/Africa relationships coming together. Hamre is moving the company in the right direction!!
http://news.yahoo.com/china-signs-mega-east-africa-rail-deal-134536400.html