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.
If we go with the articles of wyoming, the conversion rate of preferred series A shares is 5,450 common shares for every one preferred series A shares...
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=41415
As of
September 30, 2012: O/S = 2.146 billion, A/S = 2.249 billion, P/S authorized = 100 million, P/S issued =2.379 million
http://www.otcmarkets.com/financialReportViewer?symbol=MIKP&id=91918
So the diluted/fully converted amount of issued and outstanding P/S (preferred shares) = nearly 13 BILLION shares or most accurately: 12,965,550,000.
Last I checked the articles of incorporation (in Delaware and Wyoming) state that the company must keep a number of authorized shares on reserve for the possible conversion of all issued and outstanding preferred shares. There's no record of any adequate amount of Authorized shares on reserve for preferred shares conversion that I can find... Does anyone have more information to contribute about this matter?
If we go with the articles of incorporation in delaware, the conversion rate is 10 shares for everyone one preferred series A common shares.
I see from the articles of incorporation 2010 wyoming that MIKP is filing "annuals" on time with the State. The following is a copy of the wyoming articles of incorporation from my research file:
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=41415
*What I still don't understand is the difference between reports/filings listed as "active" and "inactive" on the otcmarkets.com...
Anyone know what the benefits are for preferred series A shareholders? What I got so far is according to the Articles of Incorporation (original Delaware articles listed as active per otcmarkets.com).
The preferred shares have conversion rights 10:1, voting rights 10.5:1, first rights to dividends and payments in the event of liquidation etc.
The following is a link to the original Delaware articles of incorporation posted on the OTC in september 2012 and listed as "active":
http://www.otcmarkets.com/financialReportViewer?symbol=MIKP&id=91608
That's good to know. Thanks. I'm of the mindset that a filing period starting jan.01 and ending dec. 31 and broken down into four quarters should be reported as such on every occasion, (with the OTC/SEC/FINRA/State agency). My personal preference for keeping the books, I guess. :)
That's good to know. Thanks.
according to:
https://wyobiz.wy.gov/Business/FilingSearch.aspx
MIKP has filed its' 2012 annual report as of september 24 2012
In contradiction to:
http://www.otcmarkets.com/financialReportViewer?symbol=MIKP&id=92129
MIKP's latest filing on otcmarkets.com which states MIKP has filed its' 2012 QUARTER 3 REPORT for the 3rd quarter period ending on the last day of SEPTEMBER.
*These discrepancies will have to be cleared up for the sake of clarity and sound business practices moving forward... The information is inadequate and contradictory at best...
Good morning MISM :)
Good morning MIKP! :)
woops. for clarity, I meant 'conversion rate'.
Good night MIKP! Happy humble learning and growing everyone :) ta ta for now
Good night MISM! :)
PB Ratios and penny stocks/sub penny stocks can be deceiving IMO because the profit margins are so much greater than stocks that trade above a dollar per share AND most penny's are unprofitable startups. Normally I just stick to the book value of the shares in order to determine whether or not the stock price of a given company is under valued or over valued. However, if the company is not making any money or facing some other hardship, I discount the book value of shares by 50-75% (give or take a few).
So, the book value of MISM in my opinion is roughly around .20 to .47 per share.
Quote from Q3 2012 report (about preferred series A shares)
"NOTE 6 Share Structure
Item VIII The exact title and class of securities outstanding:
Af of September 30, 2012, there are, issued and outstanding 2,146,000,000 common shares, trading under symbol MIKP, CUSIP 59863T108, par value .001. There are also 2,379,000 Preferred A Voting Shares issued."
So, I'm guessing there's no conversion/other rights as well for the preferred series A?
:) Happy learning :)
What is the conversation rate for the company's preferred shares? There are issued and outstanding: 2,379,000 preferred series A shares out of 50 million authorized. And 50 million authorized of preferred series b shares with 0 issue and outstanding. There's no conversion rate for the shares on the Q3 2012 report...
Price to Book ratio as of Q3 2012 report and as of todays stock price:
Total stockholders' equity (book value arrived at by subtracting all liabilities from company assets) is
$399,457,671
Divided by
Total number of outstanding and issued shares common shares 39,986,974 + 2,513,050 Outstanding P series E converted + 2 Outstanding P series F converted + 1429 Outstanding P series G converted + 234500 Outstanding P series H converted + 380,000,000 P series I converted
= 422,735,955
= $ .95 (book value of OS + all preferred series outstanding and converted)
Now take the current share price which is $ .05
to divide it by the book value which is $ .95
price to book ratio = .0526
http://www.investinganswers.com/financial-dictionary/ratio-analysis/price-book-ratio-pb-1094
Price to Book ratio as of Q3 2012 report and as of todays stock price:
Total stockholders' equity (book value arrived at by subtracting all liabilities from company assets) is $2,527,252
Divided by
Total number of outstanding and issued shares is 2,146,000,000
= .00117 (book value of OS)
Now take the current share price which is .0004
to divide it by the book value which is .00117
price to book ratio = .3418
http://www.investinganswers.com/financial-dictionary/ratio-analysis/price-book-ratio-pb-1094
Good morning MISM! :) Looks like 2000 nickels sold so far today for a stock that's on a downward trend...
Press Released update IS coming soon. IMO (in case you didn't already know). :)
I still haven't heard back from Mark yet... A PR Update is definitely due (if nothing else is due) for the sake of courtesy to the good guys/gals invested in MIKP.
It amazes and frightens me that Mark would post anything (not already released in a PR) on this board. Honestly, Mark should develop a cut and paste reply to questions which should he answer them, would lead to illegal insider trading. He can use my 'thank you, sorry, for your consolation, sincerely' reply and use it over and over and over again. ;) It works well!!!
Here's a nice little disclaimer I wrote for annoying people looking for insider information:
"Dear So and So,
Thank you for inquiring about the progress and future of Mike the Pike Productions.
I would like to answer your question(s) however, the information you ask for is confidential and known only among certain company members (until we release an update in a Press Release so all interested persons may have fair access to the information).
I can tell you we are working very hard to progress and succeeding in doing so.
Thank you again for your interest in Mike the Pike Productions. Have a successful day.
Sincerely,
Mark"
good morning MIKP! Rise and shine :)
Good night MISM! :) ta ta for now
Good night MIKP! I'm looking forward to another exciting day tomorrow :) ta ta for now
still no word back from Mark via my friends' fb. Anyone hear anything please let us all know so it's not like we expect the water to be hot like a sauna when it's really cold as ice. shocking.
Anyone know if the company has more than two quarterly or annual late filings in the past two years?
I think the rules for otcbb is no repeatedly late filings of quarterly/annual reports within the past two years to be listed.
"Each trading day, FINRA publishes a list of OTCBB issuers that are repeatedly late or otherwise
delinquent in filing required reports and, thus, subject to ineligibility pursuant to FINRA Rule 6530(e).*
Specifically, the list identifies OTCBB issuers that have either been delinquent in filing required
annual and quarterly filings at least two times in the prior two-year period and those issuers that have
been removed for failure to file an annual or quarterly filing at least once in the prior two year period."
http://www.otcbb.com/DailyListContent/delistings/OTCBB_Eligibility_Status_Report.pdf
In the meantime, good blessings and vibes for Mark and ALL us shareholders of MIKP :) I'm looking forward to seeing us all profit from our outstanding choice to invest wisely in this company with Mark in the Driver's seat. My goodness, this really is an exciting 'ride'... I got t.p., a puke bag, mosquito punk, c.b. radio, first aid kit, and scooby snacks just in case.
Thanks for all your honest help! I'll do as you suggest and return in kind with my own opinion shortly. :) I look forward to sharing it. Have an outstanding day and good blessings to you as well with all your investments. ta ta for now :)
Thank you JRF30 :) You're apparently very knowledgeable about recent material company events and I appreciate you sharing your knowledge with me.
I was wondering if you have any links to news about the court proceedings/judges orders etc regarding the emeralds?
Any chance you may have a link to the companies' financial/asset/share structure report?
If no to any of the above, I was wondering how you came to be privy to your information?
I am not doubting your honesty or knowledge, I am merely attempting to be thorough in my DD/research. Thanks again!!!!!
I'm new to this company so, I'm doing a little DD research which isn't turning up any information that I can use to come to an honest and well informed conclusion. So, I was wondering if anyone could tell me:
Where/how can I find more information about the company (that's not already posted on otcmarkets/the company website)?
What's going on with the Emerald find and what's in it for shareholders?
Where is the annual report for shareholders to review?
Thanks in advance for the help! If I can, I will return the favor :)
Good morning MISM :) No news/PR's on the company website and nothing new has occurred/was posted on www.otcmarkets.com as of this post.
I'm still patiently waiting for an update about the company's progress towards becoming a fully reporting company. Hopefully, we'll hear something soon.
Honestly, at this point, I could care less if we're trading on the pinks, grays, or the nasdaq and I could care less whether or not Mark is legally obligated to make public financial reports available. My only concern is simply what I believe personally: Mark has an obligation to report (via annual/quarterly reports and updates) to the people who make his dreams a reality; people who do so with the hope that Mark will return the favor.
I think the company can still go to pinks without delay (Pink no information) once the investigation is over providing finra allows the company to be re-listed.
Personally, I REFUSE to give some hedge fund/short seller/flipper the satisfaction to make a profit off of my shares... I'd rather 'go down with the ship' :)
I feel you. Sadly, Mark does not legally have to make ANY report available to ANY one (except the tax man/lady) so long as the company is trading on the Grey Market tier or Pink no information tier, etc. So, if he doesn't want to, he doesn't have to... sadly...
On a side note:
Personally, I believe the time for non-reporting companies MUST come to an end for the sake of maintaining the piece and justice in the PUBLIC financial community.
Such a ruling would eliminate thousands of scams that overwhelm and circumvent all regulatory authorities. IMO, there is NO justifiable reason why a PUBLIC company should NOT report it's earnings on a quarterly/annual basis to the PUBLIC which funds them.
These companies have an obligation to the IRS and the public. As such, they MUST make their quarterly/annual reports available to them in a timely manner.
Anyway...
Mark definitely should make the annual report available for shareholders on time, (it doesn't necessarily have to be through the otcmarkets.com). It would DEFINITELY look good for us at this time.
Regardless, (and personally), I'm holding on to my shares until I make a profit.
Far Out Speculation:
IF this whole situation (with FINRA and the resultant move to the GM) is some big money hedge fund/short sell deal trying to close out their books at .0001, they will lose more than their investment, (us shareholders will only lose our investment and in the grand scheme of things, that's not much). I have no doubt. So, I have very little need to speculate.
Good morning MIKP! :) I've asked (via a friends' fb since I don't have a fb account), if Mark plans on uploading the annual report by some other means. I'm waiting for a reply. Here's a copy of the correspondence:
Me:
Will you be disclosing MIKP's annual 2012 financial report through the OTCmarkets website? On time? Thanks in advance.
Mike the Pike Productions (fb):
most likely not. All apologies for any lack of timely filing there, but I am not about to pay $4600 to OTC Markets to file something, keeping with ALL standards to remain current info tier, only to have them keep us on skull and crossbones for being in the grey sheets. It makes no sense.
Me:
I understand and agree with your logic. Thanks for your reply. I appreciate your time. I have one last question. Will you be releasing the annual report at all through any channel/PR this month or anytime soon? Thanks again.
Good night mism :)
Good night mikp! Im looking forward to what tomorrow and the rest of the week may bring. :)