Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Here comes $2.
Thanks, you too. I'll be on the side.
$20 million is more money than most OTC companies see in their entire existence. But this company just secured more than $20M in one single contract!
Remember folks, they use Corefund Capital, LLC a Secured Accounts Receivable Facility and have a $25 million credit line with them. Payments to Unique are guaranteed up to $25 million. Even if the company defaults on the payment, it's still guaranteed payment to Unique, providing they complete the service.
Here's the Corefund 8k: https://www.otcmarkets.com/filing/html?id=14478961&guid=k6zqUqiUCyiOjth
Today's $20 million+ contract news 12/2/2020: https://www.prnewswire.com/news-releases/innocap-inc-secures-major-shipping-contract-by-air-301183339.html
Float been locked for months!
I sold my position yesterday. Not sure if this will range for a while or if it will clean up and continue heading north.
Nothing negative about the ticker, I just needed the cash for another play. I'll look to get back in at some point. Still amazing potential here.
Watch for market maker CFGN to drive any upwards movement. When he's on the bid and ask at the same time, he is actively accumulating....IMO.
INNO about to get all GWs* on us!!!!
We should see some volume now as people get a better understanding of the real value of the merged in company. Unique Logistics is the real deal. $20 million+ on this new contract alone!
Sykes gets a lot of exposure. His daytrading customers will be all over GWSO if he's alerting it. He's got hundreds of students and hundreds more in his trading chat rooms.
Too bad he's such a dick, LOL. But good to have all that attention!!!!
She's on fire, that's for sure!
Pump up the volume!
The "big boys" have been long for months, LOL.
Word is spreading quick though. We should see higher volume as new traders figure this one out.
Thanks to Sunnyland and crew for the early heads up here!
Congrats on your exit Civic!
I remember we were in this together at one point.
I think the high here was .0019? But after that it was a nightmare of dilution for years. The horse company killed it.
Good luck to all the longs here. I hope this makes it out of the gate this time.
It's amazing the move that happened today on such low volume. Imagine a 10M share day? Maybe tomorrow, LOL. Seriously though, this move will get a lot of attention, especially since it was a $1 break.
3.7M public float:
https://www.otcmarkets.com/stock/GWSO/security
That should read "posting", not poking LOL. Sorry.
I wasn't involved with that FUS* ticker, so I can't compare them. This one could be epic though with this share structure.
I saw you poking around the last couple days.
Hey bro, good to see you too! I saw you poking around the last couple days.
This one really has movement potential with this share structure. I'm watching Petzel's other shell also. Nice share structure there too, but not nearly as tight as this one.
Hope for the best with these two Petzel gems!!!!
There's only 6.1M shares freely trading. I'm going by the unrestricted count because the float number is stale.
IMO this will never trade "normal" if volume comes in. It will be extremely whippy and volatile regardless of direction.
Look at the few small trades recently and how few shares it took to move it pennies+ in one slap.
Imagine if a news event generated just 20 new investors, all who wanted around 100k shares. L2 looks like we'd be well over $5 if 2M of volume came in right now. That would be extreme without a news event, but definitely a plausible scenario when the next event happens.
CFGN was one of the major MMs who drove this up last time. He's on the bid now soaking up shares again.
I have highlighted CFGN because he's the buyer...
ASCM because he's the short seller who comes in after every nice PPS rise....
and OTCX because he's another short seller who is always lurking around the quote, but unlike ASCM, OTCX will scalp for minuscule profits.
When those shorting clowns get hammered on the ask, and CFGN is always best bid, that's an ideal recipe for a short squeeze. It happened a bunch of times exactly like that on the .23 run.
All IMO.
It's been 11 days since the 14c filing and two weeks since the last 8k.
https://www.otcmarkets.com/stock/INNO/disclosure
I do not share your concern that it's been too long a wait for symbol change & news.
Imagine the paperwork that goes into a newly merged company filing for name & symbol change. Just to get that kind of paperwork completed is a monumental task, but then it has to be submitted to all the involved agencies, like the SEC and FINRA for starters.
I'm not trying to sway you, just pointing out my perspective. I don't like to post time frames, but IMO, the time that's elapsed since the merger has been relatively short.
Good luck with your other plays, if you decide to exit INNO.
they have had ample time for symbol change and news.
Looking good now. What a powerhouse this is, and on low volume.
LOL....Accumulation here is telling.
I agree, we need some updates, but by the looks of things, the market has already begun to prepare for the next update.
Just a head fake....this time!
EDGAR link for INNO:
https://www.sec.gov/cgi-bin/browse-edgar?CIK=1281845&owner=exclude
I think Edgar might be a little quicker posting filings than OTC Markets. Maybe about the same, but I just had to check because of the sharp PPS rise in the last few minutes.
No new filings yet, let's hope this uptick is a prelude to something juicy!!!!
Good question. In a hostile takeover situation, an outside entity attempts to accumulate at least 51% of the target company's stock.
If there is enough stock freely trading on the open market to allow the entity to accumulate that 51%, they can essentially assume control of the company as soon as they own a majority of the shares.
Raising the authorized shares, but not the outstanding shares, creates a cushion that protects the company because it changes the ratio of available shares.
Now the outside entity has to accumulate 51% of the newly increased share count. With a large chunk of shares off the table, and tucked away in the authorized share count, it makes it more difficult, perhaps impossible for the outside entity to accumulate the required 51%.
How would the additional shares be used against a takeover bid..???
The filing explains that they are just taking steps to protect themselves against that possibility, and it's not an actual threat at this time.
If these folks are taking measures to protect themselves against a hostile takeover, it means that the company is valuable and profitable enough for an outside entity to consider a takeover to be a worthwhile venture....IMO.
What OTC company takes measures to protect themselves against a hostile takeover? The PPS here is almost an impossibility for what this company has going on.
I have never had the pleasure of riding a penny stock from this low to over a buck, but this might be the one. Once the market understands and believes what this company is actually worth, we could realistically see that dollar run. It traded like water all the way into the .20s on the first run. Easy mover to much higher levels when we get our next installment of information!
Look for this to get halted one day, probably soon, maybe even before the next filing(s), and open back up with a new name and ticker. Last stock I was in that did a name change, there was about a 3 day waiting period before it was trading again.
What makes them think there is a possible takeover brewing..???
I added a smidge on Wednesday.
It seems to me that Unique is all about business. They bought this shell to facilitate their expansion, and they are proceeding meticulously and quickly.
Their filings are timely and they do not seem to be interested in diluting or otherwise decreasing shareholder value. Anyone concerned about the small A/S increase would benefit from reading the latest filing themselves. While they do mention the shares COULD be used to dilute, they explained that they were set aside to protect against the possibility of a hostile takeover, and that their intended destination was to people involved with the company. It's great when someone else reads these filings and then breaks it down, but people can misunderstand and misconvey details, and anyone who hasn't read the filing might come away with an incorrect perception of what was written.
Read the latest 14C filing from Nov 20, 2020: https://www.otcmarkets.com/filing/html?id=14517966&guid=r21qUHgk-9pek3h
Name and ticker change has been announced, and with the way these folks operate, I think we'll see it completed quickly. Remember, the merged in entity (Unique Logistics) is NOT an OTC company looking to squeeze money out of people with things like toxic financing, P & D promotions/takedowns, dilutive share selling tricks, false promises, and fairy tales about fake business ventures that only exist on a sheet of paper.
This is an established business with a worldwide presence and a guaranteed accounts receivable company extending their credit to $25,000,000 ($25 Million). That means that in theory they don't have to worry about accounts receivable whatsoever, as long as the customers are paying the invoice company. If someone defaults on a payment guess what, it's the invoice company's problem because they already purchased the debt from Unique. Imagine the amount of confidence and trust the invoice company must have for Unique to raise their limit to $25 million.
Here's a look at that agreement from the 8k of Nov 2, 2020.
https://www.otcmarkets.com/filing/html?id=14478961&guid=r21qUHgk-9pek3h
Item 1.01 Entry Into A Material Definitive Agreement
On November 2, 2020, InnoCap, Inc., a Nevada corporation (“InnoCap” or the “Company”), through its wholly owned subsidiary, Unique Logistics International (NYC) LLC, a New York limited liability company (“Unique NY”), entered into an Amendment to Secured Accounts Receivable Facility (the “Amendment”) with Corefund Capital, LLC (“Core”), pursuant to which the Company and Core agreed to increase the credit line provided in the original Secured Accounts Receivable Facility, dated May 29, 2020 (the “Accounts Receivable Facility”), from $12,000,000 up to $25,000,000. The remaining terms of the Accounts Receivable Facility were unchanged by the Amendment.
Pursuant to the Accounts Receivable Facility, Core agreed to purchase from Unique NY up to an aggregate of $12,000,000 (increased to $25 Million by the Amendment) of accounts receivables. The Accounts Receivable Facility provides Core with security interests in purchased accounts until the accounts have been repurchased by Unique NY or paid by the customer. The Accounts Receivable Facility includes fees payable to Core based on the number of days between the date on which an account was purchased by Core and the date on which Unique NY repurchased the account or the customer paid, as follows: (i) Less than or equal to 30 days, a 1.5% fee; (ii) more than 30 days but less than or equal to 40 days, a 1.75% fee; (iii) more than 40 days but less than or equal to 50 days, a 2.0% fee; (iv) more than 50 days but less than or equal to 60 days, a 2.25% fee; (v) more than 60 days but less than or equal to 90 days, a 2.50% fee; (vi) if more than 90 days, a 2.50% fee for each additional week or portion thereof.
Item 1.01 of this Current Report on Form 8-K contains only a brief description of the material terms of and does not purport to be a complete description of the rights and obligations of the parties to the Accounts Receivable Facility and the Amendment, and such descriptions are qualified in their entirety by reference to the full text of the Accounts Receivable Facility and the Amendment, which will be filed as exhibits no later than with the Company’s Form 10-Q for the quarter ending November 30, 2020.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The applicable information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.
Maybe we stay above the channel this time?
I think people are starting to anticipate a return to the original plan.
We have the grow space, and all the legal stuff is taken care of....as far as I know.
One nice PR....even if it's just to say "hey, we're still moving forward", and I think we see a nice PPS lift here.
People are on the hunt for bounce plays. I think this has the potential to be one of them.
Look at that accumulation/dist line!
Anybody know why we're seeing an uptick in interest here? Bids are .0112 and offers have raised up to almost .02.
Seems like something changed, and I don't think it was because someone just wanted to print .019 earlier this week.
Volume would tell the story quickly. Whoever had that low 1.5M bid, slap that ask!!!! LOL
The same anonymous group/person/entity, soaking up the shares on the bid!
That's a nice print at .019. Thin to .10 if anyone feels like printing .10 next!
You are welcome to call the company and ask them if they would highlight the key points in the filing. I think they will probably refer you back to the fining though.
I would rather just read it for myself, it's way more detailed than anything that could come from a 10 or 15 minute phone conversation with some IR person, and the beauty of it being in print is, anyone can reference it anytime. No phone calls necessary when browsing through a public document.
https://www.otcmarkets.com/filing/html?id=14517966&guid=UPeeUWVWxsnkRyh
Let's ask a simple question....
If the company added 300M shares to the A/S, and stated that it was to protect themselves from a hostile takeover....why would they turn around and dilute those shares into the market? It wouldn't make sense from the standpoint of having them as a safeguard against a hostile takeover.
If the company is worried about being the target of a hostile takeover, I think traders need to assess what that means as far as company value. It doesn't signal to me that they are about to screw all their new investors by diluting their safeguard shares. They also talked about what the shares were earmarked for.
It's all in the filing:
https://www.otcmarkets.com/filing/html?id=14517966&guid=TweeU6p3ktXkK3h
I agree with most of your assessment, however the increase in A/S doesn't mean it won't be followed by an increase in the O/S.
Of course that has not yet been reflected because these new shares have not been issued.
When, and if they are, it will then be reflected in the O/S.
They most likely though will be restricted, this helping to keep the float the same.
AJMHO
GL
No no no wait.....Later on there will be rides through the golden portal.
Anybody wearing a "KaBLAM!" t-shirt will get free sodas, and if you have "SDRC" written anywhere on your body, you will get to break through the fake wall like we saw the gentleman do earlier.
Not many tickets are left at these prices. So don't delay, get your tickets early, and enjoy the ride!!!!
The filing shows the company is getting their shell to a condition where it will best suit everybody as they move forward.
Remember, this A/S increase will not allow for any shares to be diluted because it did not affect the O/S. If they did intend to dilute, the shares would have been added to the O/S.
I am very happy with this filing. Think about so many other OTC companies that "merge", and then....instead of a filing like we just got here....they announce a huge r/s and/or some kind of super toxic financing that will result in all the usual OTC games to try to milk as much money from unsuspecting investors as possible, and then rinse and repeat.
Think about what kind of news this filing DID NOT bring us.
That is the difference between a stinky pinky scheme among stinky pinky CEOs, and a legitimate company taking over a clean shell. Big difference. Read the filing folks, and you will see it contains nothing damaging.
https://www.otcmarkets.com/filing/html?id=14517966&guid=rfWeU62ZL2XAmyh
These OTCM numbers are a little stale, but look at how few shares are available for trading. Not many.
https://www.otcmarkets.com/stock/INNO/security
No change in Issued or Outstanding shares!
The increase in Authorized Shares, according to the 14C filing of 11/20/2020, is to safeguard the company against a potential hostile takeover, and provide opportunity for "officers, employees, directors, consultants...to acquire a proprietary interest in the company."
I highly doubt the company is going to dilute these additional shares because they have not increased the Issued and Outstanding shares, and the new shares are already earmarked for company employees, officers, etc. Dilution of shares that are not part of the Issued and Outstanding shares is IMPOSSIBLE.
If an outside party wanted to attempt a hostile takeover, it would have been too easy with the share structure Innocap had in place.
This is just an adjustment to better suit the needs of the larger, merged in company.
They expressly provide documentation that the A/S increase will NOT affect current O/S.
Read the filing folks! Here are some key points.....but use the link to look it over for your own peace of mind. There's no nasty stuff like splits, dilution, toxic financing, or excessive debt.
This filing is so clean, we could wash our hands with it!!!! Huge company moving into an OTC company's shell, there will be adjustments.
I understand the filing is lengthy and some might not want to read it. If that's the case, just search the document for key words, or better yet, get a text to speech add on and let your machine read it to you!
The only way to know and understand exactly what the filing says is for each person to review it themselves. Otherwise there are many interpretations that might or might not be accurate.
https://www.otcmarkets.com/filing/html?id=14517966&guid=t4WeU6AKM5NG_3h
I show 20.3m on TDA also, but OTCM and Etrade show different numbers.
The important thing here is all of the restricted shares. Insiders hold most of the O/S, and looking at the way this moves on such low volume, I would guess that a good part of the unrestricted shares are also under wraps by friends and friends of friends friends of the insiders. LOL
Nevertheless, it trades like it's got a very low float.