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You scream R/S and then coach a buy back?
Don't get me wrong, the lemmings just made me 10k but that is pretty low.
They can play the games, I am about to add some pretty cheap shares.
They have expanded sales in basically every market available to them as well as chasing new markets. This just doesn't materialize in 1 quarter.
Furthermore, go check the last Q. DART can, and does, effectively prohibit the further issuance of adjustable convertible notes.
Attorneys are now on contingency since they know what they have, which is a money train. Attorneys take chances in court but don't take chances with getting paid regardless of the outcomes. That is writing on the wall.
RSI got a little warm this morning. Glad to see it has cooled off.
I am seeing millions of shares going through on a 10k ask after 200 and 400 maker signals (12 am) and another 1.5 mil not denting a 600k ask 5 mintues ago.
I don't mind... just thinning out the herd.
I fault no one for taking profits and if you are day trading I would expect nothing less.
That said, I lot of those here are looking at the large potential and undervalued prices and aren't willing to miss the big gains when anticipated news starts dropping.
Whether flipping or just loading on the dips, to each their own. That said, higher lows have been established each time so I think your .0015 target may have passed.
GLTY
I went into depth about the remaining debt when the last quarterly came out.
It has been a while so perhaps I will take some time and rehash. There is still debt and some debt is in fact convertible. Your label of toxic differs from mine as my definition of toxic financing is much more aggressive.
There is dilutive debt though if financials don't come fruition.
Off for dinner now. Be back in a few hours.
If you have a cash account your shares cannot be loaned out.
If you have a margin account they can.
Margin accounts carry a hypothecation agreement allowing brokerages to use your shares as collateral.
I am looking at Ameritrade's app. It is fairly responsive even with the L2. Good enough I don't feel I might miss something.
Dropped over 20 points to 50 according to my phone app
RSI has cooled off and price has held. Very nice
YES!!! CHEAP SHARES
NITE parked large on both sides of the fence. Doesn't want this heating up too quickly but happy to snag cheap shares.
Sorry for the delay Papa.... jet lag.
I honestly wouldn't expect settlement or buyout in this fiscal year. There is no incentive for Strikeforce or the defendants atm. Strikeforce HAS to build build build revenue.
As revenues increases so does the buyout value. Defendants will have to either mitigate their losses or play heir hand in court.
Furthermore given the strength of suit, the defendants have added incentive to buy Strikeforce. Whomever gets the patents could cripple their competitors by continuing the suits Strikeforce started.
Kay needs a few quarters to get revenue going in the right direction and then let the bidding wars commence. The defendants have a lot at stake here.
Buyout
Everything this company is doing is to increase their buyout price imo. Building revenue stream, increasing value, suits against large companies.
The longer those companies wait, the steeper the buyout becomes and the winner gets the patents.
Kay wants to sell when the price is right. Fun times ahead.
Pure speculation on your part.
Just as plausible could be the last conversions of toxic financing are being fed in. Just because a note is converted 3 months ago doesn't mean those shares hit the ticker.
A note converter can make even more money shorting a stock while selling converted shares, especially with such a large stake. The price has been well controlled on small volume days.
If the quarterly shows a SS change then dilution it is, but I have seen nothing in the CEO's previous statements that indicate falsehoods.
You may not have liked the previous splits, but he never lied about them that I can see. They got wrapped up in toxic financing to fund legal bills and it was an evil necessity.
The company paid off as much bad as possible while remaining fiscally sound, forgave personal payroll debt, restructured personal loans to the company to benefit the company, brought it well connected advisers, partnered with large scale distributors, filed more patents suits (on contingency this time) all the while the CEO has coddled impatient share holders to a fault imo.
Immediate gratification is all the rage these days.
GLTA
If you are referring to my comments regarding "thin" then perhaps you are taking me too literally.
I am comparing these levels to the run up 1 month ago where we were buying 20-25 million shares per tick.
The ticks are coming in roughly 1/4 the previous volume.
Perhaps "thinner" is more appropriate
We were chewing through 20-25 mil per tick @ this level last run. Now down to 5-6. This is going to move quickly.
These levels are 4 times thinner then they were last run from what I am seeing.
Money,
In the interest of complete disclosure and upon reflection, I realize I failed to mention the Series B preferred stocks. They are, in fact, convertible as detailed below and from F-19 on the 10k.
[As of December 31, 2015, there were 175,338 shares of Series B Preferred Stock issued and outstanding, 16,667 shares which convert to common shares at a 30% market discount, and 158,617 shares which convert at a 40% market discount, as defined. The Series B preferred shares can be converted at any time after six months from the date subscribed or issued, with one conversion allowed per a 30 day period.]
I paid them no never mind after a a sticky note on 4/22 #50807 by d0lphint0m stated Series B was holding strong per Kay.
Sorry, sometimes I get a little wordy LOL.
be·hest
b?'hest/
nounliterary
a person's orders or command.
"they had assembled at his behest"
synonyms: instruction, requirement, demand, insistence, bidding, request, wish, desire
At the behest of the company, I cannot disclose my email correspondence.
I do resolutely stand by my previous two messages of interpreting the 10k debt liabilities.
GLTY
I understand the debt perfectly well. What I don't understand is your claims in the original email of 13 million in dilutive debt when that is simply NOT Correct
Let's go over those pages so YOU understand exactly what these debts are.
First how about a little review of debt types:
Open secured notes - notes secured with asset as collateral, not dilutive. Think your mortgage, with the house as collateral. If shares were used the SEC requires companies to list that as a dilutive debt. Generally lower interest rates
Open unsecured notes - notes with no assets as collateral. Think a signature loan at the bank. Generally higher interest rates but again not dilutive.
open unsecured promissory note - Loans from companies or individuals. These are not convertible or they would be listed as such
open convertible secured note - DART loan, is convertible but the note is secure with the statement from DART they have no plans to convert given there ownership %
open convertible note - TOXIC DEBT. This is gone either by payment or conversion
open convertible note balances - related parties - Convertibles owned by the directors ($355,500)
Therefore there is NOT $6 MILLION in convertible debt features. I'll do the math for you, it is $898,088. Of which Kay and other directors own $355,500 (not converting) and DART owns $542,588 (stated not converting).
That's it on dilutive debt. Period. All other debt is standard debt vehicles with no associative dilutive mechanisms. Some have assets (patents most likely), some are signature loans but they are not dilutive.
Now could a default cause a judgement against the company? Absolutely
Could Dart or the Directors reconsider dilution? Absolutely
Could Kay release some of the AS (5 Billion) in the market and dilute? Absolutely
But there is simply not 6 million in dilutive debt left, and certainly not 13 million. I too am long and bullish on this, and I am acutely aware of the debt load this company still has. I don't "hate" your message nor do I "hate" what you are saying. I just feel you are misinformed with regards to the debt vehicles.
If you find the promissory notes at the top of Pg 26 had conversion features in them, then I am in gross error and will admit it freely. But that feature is not standard to a promissory note, it must be written in and it must then be noted as convertible and dilutive security.
I tell you what, I will email Kay and inquire as to the dilutive features of these promissory notes and let you know.
We are on the same team, just arguing about how many points we have.
WOW, You are just flat wrong!
Liabilities ans Stockholders' Deficit
Current Liabilities F3
Current maturities of convertible notes payable, net 2,263,695 (Toxic and dilutive, paid or converted)
Convertible notes payable - related parties (directors) 355,500 (dilutive but extended, not executed)
Current maturites of notes payable, net 2,452,791 (not dilutive, common debt
Current maturities of notes payable - related parties 722.638 (standard debt owed to directors, self funded)
Accounts payable 1,295,829
Accrued expenses 13,368
Accrued interest 3,921,004
Accrued salaries and payroll taxes 1,347,772
Derivative liabilities 989,019
Due to factor 209,192
TOTAL 13,570,808
There is you 13 MILLION DEBT you are yelling about and it is certainly NOT all dilutive as you claim. WITH ALL TOXIC DEBT CONVERTED OR PAID, THE ONLY REMAINING CONVERTIBLES ARE HELD BY THE DIRECTORS ($355,500)
They have extended maturities to that debt to 2016 AND and forgave $700,000 in owed wages from last year all in an effort to help the company.
I don't need a trip to church btw but thanks for the offer.
These levels look to have thinned out quite a bit vs last bounce post-dilution imo
These levels look to have thinned out quite a bit vs last bounce post-dilution imo
I prefer substance over bloviation. The lessons of Urban Casavant's skillful tongue and endless PRs will stick with me forever. I still have 30 million in paper certs LOL. Legend has it his death was faked so perhaps he will buy them from me.
GLTY
Roughly 45% of the AS, approx 2.2 billion, keeping the company firmly in control of the majority position.
Convertible Debt
I do not proclaim to be a statement reading genius so feel free to correct me if I am wrong. Per the 10k on pages 26,27 & 28 is a list of all funded debt.
Obviously the "open convertible note balance" has been paid off with the exception of the one investor who converted and threw 2.1 billion shares into the market. That is also the reason the AS was raised to 5 billion I suspect, as the company needs to maintain a majority stake in its common shares.
DART has a convertible note but John has cleared that up extensively.
NOW the only other convertible notes I see are notes to Kay, Brenner and Pemmaraju (via NetLabs) per pgs 44-45. These notes have been extended through 2016 and are basically loans the individuals made to the company with their own resources.
I guess technically these directors could convert but given they loaned their own money, paid off the TOXIC debt first, extended their personal loan maturity dates to benefit the company AND PERSONALLY FORGAVE $699,000 OF SALARY OWED TO THEM FROM THE PAST YEAR (PG 38)... it looks to me like the are doing every thing they can to make their company viable.
I'm not going to tell everyone once again all the things they have in the pipeline, but I will say I like what I see for a penny stock, it is my money and I can do whatever the hell I want with it.
Sad Sallies aren't getting my shares and if you keep dropping it, I will keep buying it. Plain and simple
Odd... I am seeing close to 1 mill traded but my Vol still shows 40k premarket and that's it.
Agreed, I bought $2k @ .0004 and averaged .0034 on sales. Pocketed my intial and bought back 12.5 mil @ average .0008
This is a no brainer but I appreciate Moe's hard work very much.
WOW if they are just going to give them away I may just have to jump. I had money rattholed to build my 30x50 barn but heck, I can always wait a few months and get a bigger one complete with man cave.
In addition to the lump sum payment, the company also gets 15% - 20% in net sales minus support cost and commissions they must pay to Strikeforce. The ending is critical IMO simply because there is a contractual revenue stream
As a condition of the Asset Purchase Agreement, Cyber Safety will license the Malware Suite (as defined in the Asset Purchase Agreement) up to and until September 30, 2020. Pursuant to this license, Cyber Safety shall compensate the Company with fifteen percent (15%) of the net amount Cyber Safety receives (defined as the amount received by Cyber Safety from the sale or licensing of the Malware Suite), which amount may be increased to twenty percent (20%) under certain conditions for ProtectIDÒ, and is subject to reduction for commissions and support costs that Cyber Safety will be obligated to pay StrikeForce.
That asset to debt ratio is going to look much differently in the 10Q with the settlement cash added in and the toxic debt zeroed out/ attorney fees paid.
So what's your point?
You maintain a R/S. I only have what Kay says and I can find no instance where he said no R/S and then did it in previous instances.
Lower levels just keep getting thinner and thinner. Far thinner than even before conversions were finished.
MMs are walking it down to help some cover positions.
You do understand the .0011 wall is over 25mil deep and has held after no news and a drop?
I wouldn't short this stock right here if I were you.
CDEL is playing chicken
Microsoft Azure via Phonefactor, whose usage has increased 120% year, is who we know of so far.
That suit settled in 7 months once Microsoft was listed. Of course you and I both know $FOR was not it a fiscally healthy situation by that point after 2+ years of patent litigation and taking on toxic debt to pay attorneys.
The settlement was a pittance but $FOR was so fiscally strapped they jumped at the chance to get cash in the coffers and shun the toxic debt. This they have done. Had MICROSOFT via Phonefactor licensed the Patents that toxic debt and the results R/S would have never been necessary.
The company has identified more infringements and they now have standing. This is ancillary to the overall goal of selling product. They have expanded their marketing, increased distributors and increased marketing staff. The end game for these veteran businessmen is a product someone wants to buy out. They have worked at it for 10+ years now and have invested millions of their own money. They aren't going to stop.
I don't expect miracles on the 10Q. I want to see a cleaner debt load, increased cash and some increased marketing expenditures.
Or had the infringing parties paid for the patents to begin with the shareholders wouldn't have had to suffer.
You are blaming the victim(s) rather that the perp.
Those monthly expenses of $130,000 and indeed the total net loss on F5 of $1.8 million for fiscal '15 included the following
471,000 in Professional fees (attorneys)
545,000 in interest and financing expenses
851,000 in debt discount amortization
This totals more than the operating losses entirely for 2015. Now, while the company can't get rid of all of those expenses the settlement of the suit, no more attorney fees and paid off toxic debt should GREATLY decrease the overhead.
$for should have a much cleaner, trim and healthy 10Q than previous ones. That will give us a much better window into the effects of cleaning up the debt and finishing the litigation.
I haven't commented much lately because a. I am disappointed in the share price and b. people can do their own DD, I don't hold hands.
I have said the 10Q is where it is at and that hasn't changed. In addition this company is grossly undervalued IMO. I continue to stand by that. The lack of critical thinking and painting numbers from the 10K has allowed me to quietly increase my holding 180%.
Thank You