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This is strange.
Q1 ER states as of May 19, there were 281M shares outstanding.
The latest OTC Markets update as of July 5 states there are 278M O/S.
It went down by 3M? Have never seen that happen with ENDV.
Lol...silence. Tells you everything.
What is that phrase called?
Word Salad?
That PR was a lot of text made to appear important but says nothing. LOL
The debt liability is not improving. If the company were to fully dilute to payoff the debt, they will have an outstanding share count of 500 billion shares. This will not move out of .0001 without a reverse split. The float is too BIG.
As it is, the Authorized share count is 250 billion. They will need to increase it further or reverse split when they approach the max allowed.
What?
Dilution is not about covering losses. It is about paying outstanding debt. RNVA has a lot of debt obligation it must pay.
Read the 10Q. The fully diluted liability if converted to shares is higher than the current authorized shares.
You will most certainly see the outstanding share count be higher in the next quarter .
Why do you think they have a gag order with the TA? They don't want people to see the rate of dilution. You are forced to wait only for the Qs or some other official filing to get O/S updates.
This is a misleading post.
You say there are only 10 Billion shares outstanding in May (when this post was created) when the 10Q clearly states there are 29.9 Billion as of March 30.
The outstanding share count is most certainly much higher now.
Weighted average number of shares of common stock and common stock equivalents outstanding during the period - diluted 509,813,067,665
What will happen when the 250B A/S is reached? A reverse split will have to happen.
Can't believe another A/S increase will happen.
250 billion is awful high enough.
And yet liabilities increased.
Let us know if that revenue will ever be enough to reduce the toxic debt before the A/S is maxed out.
You are right...no reverse split is needed YET. But there will most certainly be another one sometime in the future. There is no avoiding it.
I won't bother with that outdated podcast.
Read the financials. As of March 30, there were 30 Billion shares outstanding. NOT 10B.
Why is RNVA not updating OTC Markets website regularly? They are hiding the dilution and only report it when forced to on the quarterly financials.
I repeat...based on current debt...the fully diluted share count is equivalent to 509 Billion. How will this ever trade outside of .0001 without a reverse split?
The last 10Q shows the fully diluted shares, based on current debt, to be 509 Billion shares.
If the Authorized share limit is 250 Billion, this stock will most certainly need to have another reverse split. I'm surprised they are even allowing the fully diluted number to be higher than the Authorized share count at this point.
Another A/S increase may need to happen if they are not approved for a R/S.
This volume is nothing to get excited about if the 1s are not thinning out on L2.
2s are not even on the radar.
It is a long road to get off no bid...if it's even possible at this point anymore.
Interesting. What info about the company did they try selling you on?
I was wondering how they find buyers for this obscure company. Did not think cold calling was still a thing in this digital age.
JC Darbie info
SEC Charges J.H. Darbie & Co with Anti-Money Laundering Violations
https://www.securitieslawyer101.com/2022/sec-charges-j-h-darbie-co-with-anti-money-laundering-violations/
Oooops...meant to say year ended May 31 (not June 30).
AVVH has until end of August to file the 10K.
I hope it goes well for all involved.
If this fails I don't see how anyone can trust MM again in the future.
Lithium was the hot buzz word with stocks back in 2020/2021. I'm surprised people are getting excited for this.
MM does not have a good track record with prior shells.
That is good news.
This stock needs some liquidity though. Less than 30k shares in float.
That's crazy low.
The numbers were good at the time.
The only problem is that they were fraudulent.
Let's hope for a nice fresh start here in the upcoming future.
I hear you. They did basically do that with the last Q. It was filed 9 days after the quarter closed.
I believe more is happening than we believe at the current moment.
They have filed a document to remove "shell" status which signifies they are an active company with assets.
On social media, they recently released a video reel showing a photograph session of headshots of the management employees. Most were Gold Quest Group but there were also Gold Quest Capital management.
Miguel also did an interview a few months ago and did mention Gold Quest Capital in that interview.
I believe some things will finally be revealed in the near future.
AVVH fiscal year ended June 30.
We are now waiting for the 10K to be released. They have up to 90 days to file.
We have our first MM on the Ask. Nice spread...LOL
0.024 Bid
4.99 Ask
It is a 30-45 day window of waiting for the appeal hearing. Will know something in July.
I put some different Bids in for testing. Saw them appear on L2.
This is the strangest L2 I have ever seen for a pink current stock....LOL
I understand it's due to the low float....just wow.
Any idea why L2 shows no MMs on the Ask. If this is Pink Current now, why is this not trading?
Interesting. Don't think I have seen that type of bylaw post before by any other OTC stock.
Are the years in section 5.3 correct?
If these bylaws were updated in 2021, why are they referencing the year 2000, 2001, 2002? Should it be 2020, 2021, 2022?
WORX currently in an appeal process requesting a reverse split. If denied...it will be delisted to OTC.
https://ir.scworx.com/all-sec-filings/content/0001213900-23-047784/ea180099-8k_scworx.htm?TB_iframe=true&height=auto&width=auto&preload=false
MULN just filed a revised pre-14a and increased the reverse split from 1 for 10 to 1 for 100. Ouch.
I see 2 missing ERs prior to the Form 15 being filed.
Q2 and Q3 of 2003 seem to be missing.
This could be the holdup with the name change.
Might have discovered the problem with PNNX getting an official name change.
Below is a copy/paste about another stock having trouble with name change.
PNNX does have a Form 15 filed in 2006. I don't see a form 10-12G ever being filed. Perhaps we need to see that as the precursor of a name change?
We can't get any answers from PNNX so we have to continue on with our own DD and assumptions.
"OTC Markets disclosure used to be sufficient, a custodian could take over an abandoned ticker, file a Form 15 to deregister and just get current though OTC Markets Alternative Reporting Standard.......and when the shells were sold, the new incoming companies could submit name changes to FINRA and get those approved.....this is no longer the case and has not been for awhile now.
There are companies out there, that purchased shells from custodians, that continue to get their name changes denied by FINRA, due to missing SEC filings before the Form 15 was filed....all of these are filing disclosure though OTC Markets.
I think there has been a couple of companies, that had missing filings but re-registered with a Form 10-12G and got the name change approved"
Thanks for the reply.
What would be the purpose of Belisarian filing the form 15 after filing all the missing ERs?
Makes no sense. You would think they would want to keep this current to be more attractive to a buyer.
I have some followup comments/questions. Only trying to fully understand your statements...not saying you are wrong.
I can see what you are referring to when you look at the OTC Disclosure and News section VS the SEC Filings section.
I am following an OTC pink stock that has "audited" financials and is in the process of uplisting to OTCQB and none of their ER filings are listed in the SEC Filings section.
Can you expand further? Why would the OTC disclosures filed not be sufficient?
It appears Belisarian filed all missing past ERs before filing the form 15. The new company will only have to catch up with the most recent missing ERs depending upon when the new company merges in....right?
Technically...Q2 is due within the next 30 days. That is the only missing one.
ENDV just filed an offering.
220 million shares.
Price shows as .01 as default but could be between .01 - .05
Wow...great info.
I have not seen real press releases for ONPH since last year though.
Where the hell is all this volume and price increase coming from in the past 2 days?
Stocktwits is showing PNNX with a SP of .0899.
I hope to see that and more one day soon.
.29xx on Bid and Ask now.
The 14A hasn't even given many retail traders a chance to sell yet. Wait until the bell rings at 9:30am and watch the carnage.
With the way the price has been declining so fast, I am willing to bet they go with the 1:10. I have never seen a company go with the minimum.
14A just released. 10 for 1 reverse split os being voted on in August shareholder meeting. Surprised it is only 10 for 1.
More dilution and increase of A/S mentioned on the 14A also.
Is a different company.
The Oncology Institute is a NASDAQ company. (NASDAQ: TOI),
I sold off my position with that dump. See a large sell order at .85.
Not sure if this has much more gas with no public news. Not taking any chances.
Securing profit.
Call me crazy but I bought a position today. I'll ride the momentum wave!
Bids are building and Ask looks thin.