Retiring
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You really don't know this for a fact but hey, I hold onto this post and when they pay it off, I'll remind you that you said it would never happen.
PPA still on the table, worst case scenario is a reapplication.
ERFB doesn't have the assets, the money, or anything of value to pay off $9M in debt. That's like trying to get a $20 bill out of a nickel. The shareholders will pay it off.
You actually think they're going to sell assets for ten times more than they're worth? Lol!! Never gonna happen.
You're assuming the SP is gonna be this price forever. So your number is highly speculative.
Yes. The total debt was close to $7M and Tarpon settled for pennies on the dollar. Roughly 10 cents on every dollar.
Look, you tell us that paying of debt with cash 'almost never' happens but, it obviously happens more than you think. 'Almost never' isn't definitive. It's certainly possible, contrary to the popular opinion on the board.
STLK is not a hijacked shell and I didn't say it "doesn't appear to be a hijacked shell and that's unusual".
I said I've seen plenty of non-reporting companies dump billions of shares, I never said anything about them being shells.
I never said he ran a publicly traded company. I said he has no issues with the SEC.
Quit putting words in my mouth.
If the converters wanted more money they wouldn't have settled a $7M debt for only 10%. Don't you think?
There is nothing inherent illegal about it in the first place.
Hijacked shells happen all the time. Nothing illegal about that?
The ones that do don't get to run publicly traded "companies" so I afraid that statistic isn't on your side either
I'm afraid that may be a bit incorrect. I've seen plenty of CEOs with problematic issues in the past that have continued to run companies so, I'm callin BS on that.
And "legitimate business" on the OTC is definitely in the eye of the beholder as 10 minutes on ANY active penny stock message board will tell you.
Quiros is running a legitimate business. Nothing in the eye of the beholder there, just facts.
However since STLK was a "shell company" prior to the merger then registration of its securities was a necessity in many ways in order for the large amount of company issued stock to be able to be sold into the market as it would not have been eligible for Rule 144 exemption because of its former shell status.
Seen plenty of non-reporting companies dump billions of shares. STLK registering with the SEC just to dump shares? Sure thing.
How often does an OTC shell get purchased legally? Almost never but, it happened.
How often does a non-reporting shell become fully reporting? Almost never but, it happened.
How often do you find an OTC CEO without any past issues with the SEC? Almost never but, it happened.
How often can you find an OTC company that's actually trying to operate a legitimate business? Almost never but, it's happening.
Have a wonderful afternoon. Peace
Apparently the OTC runs on 'almost never', too. 'Almost never' is not definitive by any means.
check out the float not the outstanding shares! the float has not changed!
It has gone up everytime they have increased the OS.
Almost never
But, it's certainly possible.
Don't really care. Have wonderful evening, goodnight.
I suppose you still believe they can't pay it in cash, well you're wrong. There's more than one way to skin a cat.
Lol, they don't have enough assets to do that. The CEO was just feeding folks a bunch of bull to sell shares. Massive increase in the SS coming soon.
Just a matter of time.
Around a million in debt is a lot? LOL!!
The current sp and the amount of debt dictate a reverse split or massive A/S increase in order to pay off the debt.
Absurd and ridiculous ASSumption.
Massive debt that the shareholders will pay for...
Banc leasing, Inc. $10,660 / Month including interest January-15 11.62% $ 72 $ – $ 72
Advantage leasing associates $8,269 / Month including interest Various Various 71 – 71
Legacy laser services Dallas, LLC $9,947 / Month including interest May-16 42.00% 158 – 158
KBM World Wide, Inc. $103,500 / Month including interest March-15 8.00% 104 91 13
Tonaquint $950,400 / Lump sum payment including interest Immediately due and payable 12.00% 764 – 764
JMJ Financial $330,000 / Lump sum payment including interest March-14 12.00% 187 25 162
Vista capital $72,600 / Lump sum payment including interest Immediately due and payable 12.00% 64 – 64
Willow creek capital $293,040 / Lump sum payment including interest Immediately due and payable 12.00% 182 – 182
TCA global line of credit $149,609 / Month including interest July-14 12.00% 1,007 56 951
Group 10 $157,500 / Month including interest July-14 12.00% 136 85 51
Investor financing $495,000 / Lump sum payment including interest April-14 12.00% 548 – 548
Premium assignment $2,063 / Month including interest September-14 5.68% 6 – 6
Dakota capital equipment financing $178,031 / Quarterly including interest March-16 12.00% 1,518 6 1,512
E-bond investor notes 3 years/ Semiannual interest (See below) Various 7.50% 311 143 168
Line of credit 2 years/ Quarterly interest (See below) December-16 3.00% 4,347 – 4,347
LMAO!!! What a load of crap!!!
I still don't see anything comparing STLK to those companies.
Don't really care. The debt here is minimal compared to some others I've seen.
How's that $9M in debt working out? Shareholders still footing the bill? Gotta sell a lot of shares to pay down that massive debt.
Are we now comparing this turd to such companies as Apple and Microsoft ??
Not sure where you're getting that from but, we all need fantasies I guess.
I wonder if they relied on HIGHLY TOXIC DEATH SPIRAL FINANCING such as ASHER and SEC SANCTIONED Tarpon??
They all relied on financing in the beginning.
Not sure where it says "today" but, I don't see it.
thought I heard this was going to be down today
Heard wrong.
If social media was around when Apple, Microsoft, and The Home Shopping Network were just beginning, I imagine folks would be saying the same thing.
Legitimate companies survive and thrive. They make millionaires. Your great grandchildren will thank you. Sustainability. You can watch it happen or become involved. It's your choice.
FWIW
Not real sure how to reply to that. A waste?
It's gonna go lower. And that's not a joke.
That's what happens when you're $9M in debt.
No worries though, the CEO had a CC that explained how they plan on paying it off.
Lol.
Sure looks that way.
It's IMO that the PPA is still in it's final stages yet, delayed.. again.
Worst case scenario is a reapplication.
It is important to note a bulk of the professional studies and technical assessments have already been paid for and will continue to be applicable in the future. This leaves minimal costs for us to continue pursuing the PPA. Additionally, once the PPA is back on track, all of the services that have been removed can easily be reinstated or expanded as needed without any issues or loss of time.
As evidenced by the letter received from the proposed Buyer in late 2012, the Company has negotiated key terms
and conditions of a proposed PPA with Buyer. As a result of these negotiations, that include the potential price and
term, the Company has tendered an official offer on April 16th, 2013.
144A Offering Announcement... http://www.otcmarkets.com/financialReportViewer?symbol=STLK&id=125438
Rule 144A equity offering?
http://media.mofo.com/files/Uploads/Images/FAQ-Rule-144A-Equity-Offerings.pdf
The Company provided a 401(k) employee savings and retirement plan.
http://www.sec.gov/Archives/edgar/data/1569055/000149315214002670/form10qa.htm
As of June 30, 2014 and December 31, 2013 the Company had accounts payable due to board members and companies owned by board members of $399,386 and $324,252. During the period April 8, 2010 through June 30, 2014, management and board members have been loaning money to the Company, paying expenses on behalf of the Company and deferring consulting fees.
http://www.sec.gov/Archives/edgar/data/1569055/000149315214002670/form10qa.htm
As reflected in the accompanying condensed consolidated financial statements, the Company had a net profit of $1,622,697 and net cash used in operations of $94,614 for the three months ended March 31, 2014.
http://www.sec.gov/Archives/edgar/data/1569055/000149315214001661/form10q.htm
In February 2013, the Company executed a promissory note in the principal amount of $50,000, bearing an interest rate of 5%, with a default rate of 18%. The payment terms involve two payments of $25,000 each. This note is currently in default. A payment of $40,000 was made as of June 2014, leaving a $10,000 balance
http://www.sec.gov/Archives/edgar/data/1569055/000149315214002670/form10qa.htm
Eminent was the word Dean used so any day now.
http://www.lasuperiorcourt.org/civilcasesummarynet/ui/?CT=CI
Search case #14U05173
Steve being sued again. Representing himself.
Oakland, please. TIA
For the stock (and market cap) to triple or quadruple, there should be a good underlying business reason.
There is a good reason. The CEO said a few choice words during a CC that always seems to give traders tunnel vision. Words like... "acquisitions" or "multi-million dollar" deals.
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