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Excellent post!!! I agree on the manipulation of the stock. As for infringements, that could be a possibility but will have to wait for confirmation from the company. The patents are real & so is their technology in cyber security which is massive. The share structure is still very low with only 107M shares O/S & Insiders own 46.5M of them which is 43% ownership. Smart money is buying at these levels.
$IRNC
Market Cap is currently $742K. How low is Management going to let it drop before addressing it to shareholders?
$IRNC
NT-10K Filed. Looks like they plan on filing their financial reports with the SEC to get current. Chris Lowe is still acting CEO until they find a replacement for him.
$NSPX
A derivative is a financial security with a value that is reliant upon, or derived from, an underlying asset or group of assets. The derivative itself is a contract between two or more parties, and its price is determined by fluctuations in the underlying asset.
Example: The underlying asset is the convertible debenture (Note). The note was issued when the stock was trading at $1 for $100K loan which equates to 100K shares. The asset is worth $100K at the time of the debt instrument (Asset). Now, that same asset is worth $1,230 at PPS .0123. That is a derivative liability of $98,770. Now, if the PPS went to $2. That derivative instrument would be a $100K asset on the balance sheet instead of liability. Simple terms, loss (liability) gain (asset) on the balance sheet from the value of the derivative when terms of the contract signed (Issued) between the borrower (Company) & Lender (Bank or Firm).
Hope this helps.
$IRNC
He doesn't understand what a derivative liability is on the balance sheet. Lol
$IRNC
I agree 100%. I'm expecting Contracts being signed, possible Government DOD contracts. Also, the remaining 9 of 14 patents being approved & possible merger or Acquisition. See you at the top!!!
They still had some notes maturing in July. Maybe, they converted those as well to clean the books of debt before possible Merger.
$IRNC
It appears he is shorting the stock but covering his positions with the CD holders conversions. There was a T-Trade for 1,669,544. Also, I believe their was some cross-trades during the day as well. I was at work so couldn't watch it closely.
Loving the increased volume. Can't wait for the Company to start releasing news. I'm expecting .10 minimum here.
$IRNC
Copy - No worries.
$NSPX
I plan on adding as well but will wait to see if they drag this any lower. I averaged up yesterday buying some in the .02 range.
$IRNC
I'm not trying to scare investors. lol - I own shares here. We'll make a boat load of $$$ if they have secured financing for Phase III trials. Waiting patiently.
$NSPX
Yes, it is a factor. No way around it unless they raise the A/S instead. GLTU
$NSPX
Well, I would take a buyout for $80M in a second. Lol - That would equate to .53 per share for 150M O/S.
$NSPX
The R/S cannot happen until they meet their reporting requirements. It will happen after or they will have to raise the A/S in order to raise Capital. If they secure financing & start Phase III trials the R/S will be to uplist to the NASDAQ exchange. IMO - The PPS will appreciate greatly if they start Phase III trials. Could reach dollars before R/S takes effect. Could be as low as a 1 to 5 R/S if PPS appreciates to a dollar or higher. It also could be a 1 to 500 if they don't secure financing.
$NSPX
Besides the nice share structure, what does the company have going for itself? Are there Reverse Merger rumors?
$ATVK
Important factors for NSPX going forward: #1 most important!!!
1. Secure financing/partnership to start Phase III trials.
2. Elect new CEO since Lowe is no longer CEO.
3. Get current with their SEC financial obligations.
4. Get company website up & running again.
$NSPX
Good post & 100% accurate. New management here needs to get the ball rolling ASAP.
$NSPX
That makes sense since the O/S increased by 31M shares from the filing in February to the TA update on 22 March. Obviously, got to be less than that now. We can piss through that quickly if the company starts releasing news which will create more volume. The past two trading sessions have been the highest volume days for the company within the past year.
$IRNC
I don't see .10 today unless breaking news is released. We could see .04 quickly once .03 breaks.
$IRNC
.03 break coming!!!
$IRNC
I just smacked PAULY for another 50K shares.
$IRNC
PAUL is on the run. Lol
$IRNC
I just slapped another 50K shares.
$IRNC
Holding steady the #1 ranking on Breakout Boards.
$IRNC
This ran from .03 to .14 less than a couple of months ago with conversions going on. How high will this go without conversions & pending news releases. Oh my!!!
$IRNC
My shares are locked with an Ironclad grip. Waiting for .10+. Shouldn't be difficult with this float & pending news. I was here when this ran from .03 to .14 a couple of months ago.
$IRNC
Eyes are now on IRNC. #1 on Breakout Boards.
$IRNC
Conversions started back in January at much higher PPS (.20) all the way down to a low of .007. I was using a conservative discounted PPS of .01 for all tranche shares converted since January until just recently. You should read up on derivative liabilities & how they are applied to financial statements. Conversions are done until July. Enjoy the ride up to .10+ especially when news is released.
$IRNC - $$$Contracts$$$Patents$$$Merger/Acquisition$$$$CyberSecurity$$$$
Very possible IMO. Could also easily hit .25-.50 if they sign some big service contracts along with Partnership deal & Patent approvals. Also, after reviewing the latest 10Q the CDs remaining mature in July 2019. So, it appears they have already started paying off some or most of this debt.
The info below is most current from their last financial filing (10Q) ending on 31 Dec 2018. Total CD is $575,249 not including interest. Also, the O/S was 68,628,812 on 31 Dec 2018. So, that is a increase of 38,894,441 O/S. If all those shares were converted at PPS of .01 then $389K of the debt has been reduced. Some of those shares were converted at higher PPS since the stock was over .20 a few months back. Also, not all the CD debt is due now. I would have to look at each note to see what dates they mature on. My analysis, most of the CD debt is paid off for 2018. This could be the last tranche before the next tranche is issued to pay off the remaining 2018 CD debt if any remains. Could be the reason they updated the Share Structure on OTC Markets.
Convertible note payable, net, 10% 82,500
Convertible note payable, net, 10% 85,000
Convertible note payable, net, 10% 82,500 Convertible note payable, net, 10% 73,819 Convertible note payable, net, 12% 52,529
Convertible note payable, net, 9% 63,986
Convertible note payable, net, 9% 71,199
Convertible note payable, net, 10% 19,917
Convertible note payable, net, 10% 43,799
Note: They issued a new CD note for $107,000 in Feb of 2019 which is due Feb 2020.
FOR VALUE RECEIVED, IRONCLAD ENCRYPTION CORPORATION (the “Company”) promises to pay to the order of ONE44 CAPITAL LLC and its authorized successors and permitted assigns (" Holder "), the aggregate principal face amount of One Hundred Seven Thousand Dollars exactly (U.S. $107,000.00) on February 14, 2020 (" Maturity Date ") and to pay interest on the principal amount outstanding hereunder at the rate of 10% per annum commencing on February 14, 2019.
https://www.otcmarkets.com/filing/conv_pdf?id=13237147&guid=t523UFN_K2X6Sth
$IRNC
Now #2 on Breakout Boards!!! This low float gem is getting attention quickly now.
$IRNC
Yup, float is tiny & will move on air especially now that conversions are finished for a while.
$IRNC
#7 on the Breakout Boards. Amazing opportunity at these bottom prices. Reversal in progress with conversions finished until July minimum. Pending news releases & super low float could transpire into an epic run.
$IRNC
All directors and executive officers as a group (8 individuals) 46,508,388 shares.
https://www.otcmarkets.com/filing/conv_pdf?id=13256513&guid=64A3UF3Chknf93h
$IRNC
This was trading over .20 this past January.
$IRNC
Lets not forget possible merger & Government DOD contracts.
$IRNC
IronClad was recently granted five patents from the United States Patent and Trademark Office (“USPTO”) from its fourteen recent patent filings,
and the remaining nine now continue under routine, formal examination and review. Based on previous process and timing, IronClad expects to have the
remaining nine patents granted during 2019, likely the first half of the year. International patent protection has also been filed for all fourteen of these granted and pending patents.
https://www.otcmarkets.com/filing/conv_pdf?id=13237147&guid=64A3UF3Chknf93h
Page 13
$IRNC
Thanks for reaching out to the company & sharing with the board. Just a waiting game at this point in time. I would like to see Insiders start buying shares at these levels. The CEO has already bought at much higher levels.
$IRNC
IronClad was recently granted five patents from the United States Patentand Trademark Office (“USPTO”)/b] from its fourteen recent patent filings, and the remaining nine now continue under routine, formal examination and review. Based on previous process and timing, IronClad expects to have the remaining nine patents granted during 2019, likely the first half of the year. International patent protection has also been filed for all fourteen of these granted and pending patents. Amortization of the newly issued patents will be amortized over the life ofthe particular patent, usually twenty years starting in the first full month after the patent is issued. In the case of the five patents issued in mid-December their amortization will begin on January 1, 2019.
https://www.otcmarkets.com/filing/conv_pdf?id=13237147&guid=Sg73Ue5LYXNedth
$IRNC