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LOL, you're confusing posters. I'm not the one with a group, I just flip this individually.
That group is supposed to be buying, not selling. They loaded big at 13 and 11 but apparently have figured out what's really going to happen now.
You're smart to wait though. The group unwinding their 700k (I think it's closer to 1 million shares now) is nothing though. Egan has 20 million to get rid of before they announce the R/S.
If ANYONE thought it was going to move back over a dime even, they'd be buying that 50k at $.095.
I suspect we're watching the continuing unraveling of Egan's position. Let's remember, this is chump change to him. He probably turned this assignment over to a minion and said, "Don't crash the stock, but unwind this position as quickly as you can".
50k shares offered at $.095. Where are all the buyers who were loading the boat at $.11 and $.13?
Missed a zero. Delfin paid $.00008/share.
This SATISFACTION AND RELEASE AGREEMENT (this “Agreement”), dated as of December 27, 2017, effective as of January 1, 2018, is entered into by the undersigned, DANCING BEAR INVESTMENTS, INC., a Florida corporation (the “Creditor”), and THEGLOBE.COM, INC., a Delaware corporation (the “Company”),
WHEREAS, Michael S. Egan (“Egan”) is the sole owner of the Creditor
From today's filing.
You're wrong. Dancing Bear has nothing to do with his grandkids. It was Egan's company. And his shares are not locked away. Read the 144 rules. As of April 1, his shares became unrestricted and he was free to sell them, without telling anyone.
Dancing Bear Investments, Inc., a private entity controlled by Mr. Egan, whereby Dancing Bear Investments, Inc. will provide personnel and services to theglobe.com so as to enable it to continue as a public company without the necessity of full-time employees of its own. Services under the Master Services Agreement include, without limitation, accounting, financial reporting, accounts payable, treasury/financial planning, tax, record retention and secretarial and investor relation functions.
No, it refers to the COMPANY (TGLO) not issuing/selling any unregistered shares.
Egan is no longer mentioned in the filings and he is free to sell any or all of his shares at will (since April 1) without filing any forms, or having the sales reported in a company filing.
If he BOUGHT shares, raising him to 5% or above, then he would have to file forms with the SEC.
That's wrong I'm afraid. Investors want profits, not unprofitable revenues.
Of course I'm talking real businesses, not pump and dumps. In the case where hype rules, revenues may be able to pump up the price, but in the long run, if the business can't turn a profit, investors will dump the stock.
We've seen that happen with PNTV many times over the years, back in the days where they had revenues.
The answer is "no one, unless the profits are VERY small".
Remember, all that has been quoted are revenues, not profits.
BIG difference.
The 10Q is due today. The NT-10Q extension is due tomorrow. If the NT-10Q is filed by tomorrow, they have until Monday night to file the 10Q.
I bet Mr. Egan is saying the same thing!!
Wow, the $.10x taken out with almost half a million shares dumped into the bid.
Someone have early insight into the 10Q???
As they say, "Be careful what you wish for".
Jeez, I can't type fast enough before it drops another penny. The 10Q must be a doozie.
Then presumably you got the 45k dumped at 11:3x at $.1027.
If you don't see the 150k dumps into the bid, your trading logs are wrong.
https://ih.advfn.com/stock-market/USOTC/theglobe-com-inc-pc-TGLO/trades
Volume 166k, 6k buys, 5k undetermined, 155k sells.
150k have been sold into the bid this AM already. Hope you got some of those.
Who has so many shares that they're willing to dump 150k of them into the bid this AM?
Oh yeah.
Rut ro.
In just over 5 months, from 11/10/17-4/30/18, the company dumped 4 BILLION new shares as low as $.00004 through toxic lenders.
The sad part is, that's less than $200k in toxic notes, out of the 1.6 million in notes outstanding as of 9/30/17. It doesn't even come close to accounting for the millions of new notes they issued after that to keep the lights on.
This will reverse split as soon as they get current, or end up on the grey sheets.
Nice work on DD Johnny.
A more skeptical person might wonder about these steps - buying a defunct pipeline, putting out PRs about bank financing, obtaining a permit before any funding has been received that would make use of the permit and now purchasing control of a shell for $25k - all while the big, well financed players in this market focus on building their business.
Luckily I'm not a skeptic.
Egan can sell his shares anytime from April 1 on.
If I Am Not an Affiliate of the Issuer, What Conditions of Rule 144 Must I Comply With?
If you are not (and have not been for at least three months) an affiliate of the company issuing the securities and have held the restricted securities for at least one year, you can sell the securities without regard to the conditions in Rule 144 discussed above. If the issuer of the securities is subject to the Exchange Act reporting requirements and you have held the securities for at least six months but less than one year, you may sell the securities as long as you satisfy the current public information condition.
https://www.sec.gov/reportspubs/investor-publications/investorpubsrule144htm.html
Too many shares were bought at sub-penny, plus Egan's 22 million shares. They are slowly being fed out to the "$20/share" group and other true believers.
Questions are:
- Do they go ahead with the R/M?
- What is the exchange ratio between Delfin shareholders and TGLO shareholders?
I'm always amazed at how many dollars will chase the "to da moon" pinkie stories.
Ahahaha, someone tempting Picasso after they forced a buyer near the HOD.
I wonder if it's Egan's minions pushing or someone with a lot of front loaded shares looking to make some big bux.
Either way, fun to watch.
This will continue its rapid decline once the 10Q is filed and the additional toxic notes made public.
Yeah, if Egan hasn't sold, his holdings dropped by half a million dollars today. The group holding 700k shares is only down $17,500 today.
Lower highs and lower lows. You heard it here first.
I'm thinking when the 10Q is filed, we're looking at sub-dime.
Nope, still wrong. Read the info I posted. Egan's shares were only restricted as long as he was a control person and for 3 months afterward. The 144 restriction is lifted as long as he's held the shares for more than a year. He's had them for more than a decade!
I'm afraid once again, that information is incorrect.
If I Am Not an Affiliate of the Issuer, What Conditions of Rule 144 Must I Comply With?
If you are not (and have not been for at least three months) an affiliate of the company issuing the securities and have held the restricted securities for at least one year, you can sell the securities without regard to the conditions in Rule 144 discussed above.
Let's see, when was Egan no longer an affiliate? How long did he hold those 4.99% shares?
https://www.sec.gov/reportspubs/investor-publications/investorpubsrule144htm.html
Well that makes it pretty clear why he only wanted 4.99% ownership, doesn't it?
Nice find.
What I don't think enough folks realize is that TGLO hasn't had revenue in 10 YEARS. It's been a sinkhole for Egan's money and time for a decade. He was thrilled to give up his $2 million in debt owed him and take $25k for 93% of the shares he held, just so he could sell the remaining 7% without disclosing it.
Makes you wonder if Delfin agreed to hold off on any announcement until those shares of Egans can be sold.
The dumping is starting early today. Look out below.
Not worthless, he got $25k for 312 million of them. That makes them worth about $.00008 each.
The 4.99% he kept though is currently worth $2.8 million. Maybe more if he sold some.
You're not subscribing to the "Egan's shares will be worth $100 million someday" BS, are you?
It is indeed a failed company. It is a worthless pink shell. It used to be a Nasdaq company with a huge market cap. http://www.theglobe.com/
Fully reporting has nothing to do with asset value and every public company is "SEC recognized". Meaningless in the context of a RM. Delfin contributes all the asset value, Delfin will rightfully get 99.x% of the ownership. It already bought 71% for $25k. Even a $1 million net asset contribution would allow them to reasonably claim 99.x% ownership.
No court in the U.S. would accept the argument from existing shareholders, "We thought it was going to be worth $20/share, we deserve to keep the 29%".
TGLO is already public.
SEC weighs in
https://www.sec.gov/investor/alerts/reversemergers.pdf
"Typically, the shareholders of the private operating company exchange their shares for a large majority of the shares of the public company. "
So yeah, no reverse mergers into the pinks. Lots of great examples of RMs onto an exchange though.
Companies don't reverse merge into the pinks to raise substantial money. There's not one example of that happening.
They IPO on a real exchange.
Delfin bought an abandoned pipeline that the owners were happy to sell because it was costing them money and not capable of producing revenue.
Then they bought a shut down shell company that the owner was happy to sell because it was costing him money and time and not capable of producing revenue.
The notion that they have a company worth hundreds of millions, or even billions, but couldn't find the cash to do an IPO is simply fantasy. Though not as silly as the notion that they are then going to turn over 29% of the equity in a merged entity that Delfin contributed 100% of the net assets to, to a bunch of stinky pinkie investors.
It absolutely is NOT Delfin, or any other insider buying shares.
If it were, you'd see a form 4 filing.
Reg Sho is not even regular shorting, let alone NAKED SHORTING. ROFLMAO.
Half of Google's shares were "short" on Friday by the Reg Sho definition.
http://regsho.finra.org/FNSQshvol20180511.txt
When you see TGLO show up on the Threshold Security list for Reg Sho, THEN you can suspect POSSIBLE shorting issues.
http://www.nasdaqtrader.com/trader.aspx?id=regshothreshold
That's the pipe they paid $43 million for I guess. Well, hopefully it still works.
Of course I guess if Delfin has negative assets that may be good for TGLO shareholders in retaining their 29% ownership.
My guess is they have net assets. Though not the billions that some believe.
Actually, the 10K shows their PRs are worthless.
Another correction, 10K is just ONE(1) month old also.
10Q should show the new toxic loans. Will they beat last Q's $1 million?
Tick, tock.
No, I'm referring to no assets and a $50k liability to Deflin.
Funny you should ask.
You'll want to look at the 10K
https://backend.otcmarkets.com/otcapi/company/sec-filings/12688560/content/html
Under "CONSOLIDATED STATEMENTS OF CASH FLOWS" page F-5
See "Net cash used in operating activities (1,994,440 )"
and "Proceeds from convertible debentures 986,000 "
as well as "Proceeds from sale of common stock 1,333,000 " (that includes the shares converted at a huge discount to market price by previous toxic notes).
Still wrong.
This is what happened to TELL. It went from $1 to $7 when the merger was announced. The company had over $1 million in net assets and a market cap of $40 million at that time.
It then stayed flat for 6 months until a $200 million investment from TOTAL was announced and the merger terms that gave MPET shareholders a 3% stake in the merged company. At that point it went up to $21/share over 3 months, then fell back to $10/share as reality set in a week later. Since then it has floated between $7 and $13.
Meanwhile, TGLO went from sub penny to $.34 on news that Delfin had bought 71% of the shell for $25k and speculation that they were going to turn over 29% of their assets to TGLO for no compensation. TGLO has negative net assets and a market cap currently of $56 million.
Actually no. The notes were used to keep them afloat in Q4. Now they'll need more notes in Q1, Q2, Q3, ....
Next.