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What are you talking about?
"The shares were issued to settle any exercise of the 286,875 warrants previously granted to the investor related to convertible debt that was already converted in addition to over conversion of previously outstanding convertible notes payable. These warrants were issued in connection with convertible notes payable. "
Exactly, Peak One is a great example.
LOL of course it was not given for free, there is nothing wrong with giving shares for cancelling debt and warrants.
Read the 10Q again, why is nobody talking about what they did with Peak One?
"In January 2019, the Company issued 14,746,324 shares to Peak One as part of a settlement. The shares were issued to settle any exercise of the 600,000 warrants previously granted to the investor related to convertible debt that was already converted, in addition to under conversion of previously outstanding convertible notes payable. As part of settlement to consider any remaining dispute over convertible notes payable and to avoid returning shares to the Company, the parties agreed the debt would be considered fully converted as of March 31, 2019. As part of that settlement agreement, the previously issued warrants were forfeited during the three months ended March 31, 2019 in exchange for shares issued for cash noted above. On the date of settlement, the shares had a fair value of $33,917."
So they also gave 14 million shares for free?
What??? What are you talking about? Nothing was given for free. LMAO read again my other message.
The 10Q does not mention 0.006 or 0.003 either. Do you really think Firstfire would cancel the convertible debt for free? Of course not, they were given shares for that! And on top of that they felt confident enough to invest more money! VYST did not want any additional toxic dilution, so the only way they had was to invest at a pps of 0.15.
LOL read my last message. You re making a calculation to get them, but my poi t is that the numbers 0.006 and 0.003 do NOT appear in the 10Q. I can also easily make another calculation to get to the 0.15, see my other message.
And how much do you think the cancellation of convertible debt and warrants is worth? In your "simple" calculation, it is worth 0!? It can't be, so your simple math is wrong.
LOL I know, but it does not show on the PR either. Check my simple math:
Firstfire were given 29,800,000 shares for settling of convertible debt and cancellation of warrants. In addition, they were given 1,333,333 shares in exchange for an investment of 200,000$ at a pps of 0.15.
Total: 31,133,333 shares
Crown bridge were given 30,500,000 shares for settling of convertible debt and cancellation of warrants. In addition, they were given 666,667 shares in exchange for an investment of 100,000$ at a pps of 0.15.
Total: 31,166,667 shares
How is my math? My point is, we dont know the details of the transaction, so you cannot say that they lied based o what is in the 10Q.
LMAO good one !
And where does the 0.006 or 0.003 price show up?
LMAO
LOL the PR was for AUTHORIZING the buyback, not doing it. They did not lie, they will do it once they can, that s all. You will argue that they will never do it, fine, but that s just your opinion, but in the end THEY DID NOT LIE.
Also if it is a dilution scam, where is the dilution since January? Have you looked at the daily volume? LMAO
They did not hide anything, read again this forum, everyone knew there was dilution, we just did not know by how much. Agreed it was more than expected, but they did not have to give details about the dilution, that would have made things worse.
No company will ever say "hey we are diluting". The only important thing here is that they got rid of the convertible debt.
LOL your arguments are so easy to counter. If you gain control of a company with convertible debts, dont you want to get rid of it? What other way than dilution when you dont have cash and investors dont want to risk their money because of that?
Now we got rid of debt, increased cash, got investors on board.
Also could you give me the dilution since January 3rd? Almost non existent in 6 months.
And have the kids sold their 53 million shares that apparently can be sold since June 30th? Of course not, look st the volume, they will sell one day but not at this low pps. If pps was about to go down, they would sell.
All is well here.
I really dont understand your comments on this board. Acquiring 58% is a great thing. Of course 100% is even better. But instead of seeing what we have as a positive thing, you see it as a negative because it s not 100%. Just think about it.
And now for example if the stock goes to lets say 0.2, are you gonna say it is bad because it did not go 0.5?
How can you say that? Steve became CEO 1.5 years ago! How can you say he is not totally involved? He did not offer his 42% just because he does not need to.
This lawsuit has nothing to do with it, it is about a company which Neuro Hitech dealt with 5 years ago. It will not help nor affect WDBG...
But then why did they bother providing the 10K in April? And they even made the effort to audit them.
They are late on the 10Q so if they release it they will be back to pink current.
the name change happened in december 2018. What are you talking about??
Not relevant, in 2014 it was a different company.
The 53 million shares have already been discussed many times, and I m not worried about those. In the last week, do you think any of those was sold? Have you looked at the volume? You re just trying to scare newbies.
Also the 30 million $ deficit is not a valid argument, the Rotmans have only been in control for 1.5 years, they re not responsible for what happened before. Also you know that the massive dilution was to clear the toxic debts, and since January dilution has been almost non existent. But of course you prefer to omit these facts.
For the buyback, I was also very disappointed. Management said it was an issue with the bank responsible for taking care of it and a conflict with insiders, so I will give them the benefit of doubt.
imo the only problem with management is that they are most of the time late for achieving what they announce, but so far they always delivered. I m waiting for the merger confirmation first, and we should probably get some announcements at the same time.
Yes they seem to be late for the Sonnett brand. I agree it is disappointing, and I hope they will address it next week.
But I have to disagree on the second part of your statement. They said they are the only 100% natural AND allergy-free latex company, and I searched myself, I could not find another company doing both. Other companies either do natural latex (prone to allergies) OR they do synthetic or hybrid allergy-free, but not both.
?
What s your problem? Steve did not sign because he does not need to. Dont see problems where there arent.
Just because they dont answer questions in YOUR timeframe does not mean it is a bad company. They re doing things according to their plan.
I checked again, I havent found anything like it... And I dont remember hearing about this, but maybe it was a while ago before I joined the party.
I dont know.
Rotmans could have tons of cash accumulated for decades. Or not. Maybe we ll learn more with the merger 8K.
Also having a well-known significant business like Rotmans on board will probably make VYST more attractive to investors, so VYST could be in a position to negotiate better investments at a higher pps, which would limit dilution.
Too many unknowns at this point, only time will tell.
There are many reasons to see investment bankers. It could be for raising capital, but the most probable at the moment is that they were consulted for completing the merger with Rotmans. So there may NOT be any share issued short term (the deal with Rotmans being to issue shares once uplisted).
I could be wrong, but that makes much more sense to me.
"Millions of shares may have been promised"
1) you dont know that, just speculation.
2) I m talking about dilution in the last 2 months or so. Just look at the daily volume. The June 6th update showed 8 million shares were issued in the previous 3 weeks. Volume has been the same since then so dilution is non-existent or low for the last couple of months.
Similarly, we could ask: if VYST is headed to sub-pennies, where are the sellers?
2 answers:
1) float is locked up
2) Many people are waiting for the merger to be confirmed. It is OTC, and as long as official filings are not released nothing is guaranteed.
So potential buyers wait for the confirmation, and potential sellers do not want to sell now because of the big catalysts coming.
But for sure, no dilution is happening, or if there is it s very small, just look at the daily volume.
We re good here. Not going to 1$ as some say (at least not now), but definitely higher than .04.
LOL very good point, there is no dilution going on, just tactics to get cheap shares before the BOOM !
Haha another mystery we wont be able to agree on. And thinking about it, it does not really matter if they can sell or not on June 30th. Rotmans family did a great job cancelling debt, doing acquisitions, starting new products (RXAir, mattresses...), etc... It cannot be just to enrich 2 persons for a couple millions, that would be stupid. pps will go much higher, and the Rotmams kids might sell at some point but not all their shares and certainly not at this low price when they can make 5 or 10 times more later on.
This week and next week will bring some clarity with the probable Rotmans acquisition, but as already said, I m here for the long run so not worried about day-to-day concerns.
Good points!
I m not sure yet which rule applies for selling these shares, but what is certain is that if they do, it cannot be more than 1% of the OS, so if they both sell it will be around 20 million shares, not 53. And nothing says they will sell, only your speculation.
Good point, my bad. So the debate can go on!
LOL read the first page of the 10Q, VYST are an SEC registrant company but are not subject to the required filings. It is clearly written, what else do you need?
I found what will definitely stop this never-ending nonsense by a simple FACT.
Read the first page of the latest 10Q, VYST is NOT subject to full SEC reporting, so definitely the 12 month prevails:
"Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days."
YES NO X
Thanks Doog for the detailed message, that clarifies the situation.
From what I understand based on my own DD, VYST are a VOLUNTARY SEC reporting company, and not a mandatory SEC reporting company (not mandatory because on the pinks), thus the 12 month period prevails.
It is all detailed here and is pretty clear to me:
http://otclawyers.com/rule-144-holding-period-for-voluntary-sec-filers/
I dont know, there could be vesting periods in the consulting agreement. Maybe they can be sold, maybe not.
It is still confusing to me. The shares were issued to Designcenters.com and Blue Oar consulting, not directly to Greg and Jamie, that is why there is no Form 4 for these shares, so I m not sure how the rules we are discussing apply here. There might be vesting periods on these shares as part of the consulting agreement, but we dont know the details of that agreement, it could be anything.
Hi Doog, can you send a link showing that the holding period is 12 months, even though VYST is a mandatory SEC reporting company?
Also one other thing to mention: when authorized to sell, an insider of an OTC company can only sell up to 1% of the OS every 3 months, so that s about 10 million shares. So in any case, they cannot sell the 53 million shares at once.
I assume this week when the Rotmans acquistion is PR'd. But delays would not be surprising. I know it sucks to wait but I m not worried, I know it will happen.
It is 20 million according to the last 10Q