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Got some more at 1.50 too.
See it, already thought that would happen
Amended filing out
On the bright side, the PPS will be over 8 million
BOZZ OS 742k, doing a 1:43600 RS, leaving a 17 OS!
Only thing needed here is patience. I have plenty.
DTC are the tradeble shares, so yes.
Yeah, it does!
If you go to the first two tweets you'll see that name new CEO and address filed on NVSOS match with name CEO and address for forensec global
Sure, filings will hit in a few weeks, new CEO coming, more news
Good DD. Yeah, we're here for quite some time now. Looks like patience will pay.
8k out!
ITEM 5.02—DEPARTURE OF DIRECTORS AND CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
Effective June 15, 2020, the Chairman of the Registrant accepted Ms. Louise Jones’ resignation. Mr. Laxmi Prasad will function as Chairman & CEO of the Registrant, until a suitable replacement for the position of Chief Executive Officer is hired. Mr. Prasad is a qualified Chartered Accountant from India and a CPA from the United States holding 30+ years of experience in global financial practice, taxation, capital markets, mergers and acquisitions. He specializes in structuring large & complex transactions and is working towards organizing a Residential REIT and a diversified asset based Infrastructure Investment Trust (InvIT) per laws of India.
ITEM 8.01—OTHER EVENTS
Effective June 12, 2020, Registrant, continuing its efforts to extend opportunities for its stakeholders, affiliates, associates and itself, has submitted a preliminary expression of interest to participate in and/or facilitate participation in resolving the ongoing corporate insolvency of Asian Colour Coated Ispat Limtied (“ACCIL” or “Corporate Debtor”). The Registrant intends to extend a value proposition, for and on behalf of its strategic investors, for the acquisition of ACCIL in excess of the current offer in place from the previous Bid Winner. The Registrant has not advanced to the stage of signing of a Memorandum of Understanding for moving forward with ACCIL. However, the Registrant is in active pursuit of this and made its representation to Creditors Committee of the Target Company.
THERE IS NO GUARANTEE THAT THE REGISTRANT WILL BE ABLE TO MATERIALISE NEGOTIATIONS AND EXPRESSION OF INTEREST INTO A MEMORANDUM OF UNDERSTANDING OR BINDING ARRANGEMENT. THERE IS ALSO NO GUARANTEE THAT THE REGISTRANT WILL BE ABLE TO ARRANGE MONIES AND THE TRANSACTION WILL CONSUMATE. FAILURE SHALL MEAN LOSS OF TIME, MONEY, RESOURCES AND OPPORTUNITISTIC INVESTMENT LOSS, VALUE AND INCOME THAT THE REGISTRANT OTHERWISE IS EXPECTING TO GAIN.
Effective June 15, 2020, Registrant is evaluating Reliance Naval and Engineering Company Limited (“RNEL”) for acquisition by few of its strategic investors. Registrant is in the process of appointing transaction advisers and a legal team for conducting due diligence. Once due diligence is complete with valuation, the Registrant intends to structure and place a bid for the target, RNEL, on behalf of stakeholders.
THERE IS NO GUARANTEE THAT THE REGISTRANT WILL BE ABLE TO ARRANGE MONIES AND THE TRANSACTION WILL CONSUMMATE. FAILURE SHALL MEAN LOSS OF TIME, MONEY, RESOURCES AND OPPORTUNISTIC INVESTMENT LOSS, VALUE AND INCOME THAT THE REGISTRANT OTHERWISE IS EXPECTING TO GAIN.
Registrant, along with a group of investors, is gearing itself to express interest and participate in the Follow-on-Public Offer (‘FPO’) of a large private bank in India that recently went into troubles and financial distress and now setting back into normalcy. Registrant intends to acquire 4.99% of the post-diluted equity stock of the Bank and towards this, it is working with several intermediaries, legal and regulatory framework, including engagement of Investment Managers in US & India, Category 1 Foreign Portfolio Investors, and Custodians to pipeline the transaction. Registrant is also in advanced discussions with a few Indian Mutual Funds to sponsor an Indian Alternate Investment Fund (AIF), with $2.40 Billion corpus, into which Registrant’s domestic investors would be investing contribution monies for onward investments into listed and unlisted stocks’ long or short position. An Indian Securities Exchange Board of India registered Category 3 Alternative Investment Fund is structured like a Hedge Fund. Registrant is also researching, with experts engaged, to determine if it will be able to organize unsponsored American Depository Receipts to facilitate its investors and stakeholders to trade these instruments on the US OTC by filing and registering these depository receipts with SEC that will have a cover of the stocks that Registrant’s Investors will purchase through FPI Cat1 and kept with an Indian Custodian. The Regulatory Framework that the Indian Securities Exchange Board issued is unclear on the issuance of unsponsored Depository Receipts but if the efforts turn into fruition Registrant will gain traction in consulting for other listed entities in India to follow similar route to attract capital in the US Markets.
I was in a little cheaper
I think next few months will be fun here
That's the bank
Just got another mail with news:
We are structuring the transaction for our strategic investors and we gain 45 million shares as our sweat equity in the bank towards organizing the transaction for our investor groups.
here is the source excerpted from Business Standard News, Dated June 11, 2020
------------------------------------------------------
A group of US-based foreign portfolio investors (FPIs) is looking to pick up a stake worth $300 million in YES Bank by investing in its forthcoming share sale via the structured, unsponsored American Depository Receipts (ADR) route.
The FPIs are in advanced talks with an Indian bank to act as a custodian.
In October last year, the Securities and Exchange Board of India (Sebi) came out with a detailed framework for issuing depository receipts by Indian listed companies. The framework allows local firms to access foreign funds with conditions attached.
Sponsored ADRs are those that a bank issues on behalf of a foreign company, whose equity is the underlying asset.
These investors have sought clarification from Sebi about whether they can invest in YES Bank share sale, taking the unsponsored ADR route or not.
YES Bank, India’s sixth-largest private sector lender, is set to raise Rs 10,000 crore in the next few weeks and will file its prospectus with the markets regulator this month. The bank had to raise capital from a slew of investors in March this year after its bad debt rose sharply and deposits declined by over Rs 1 trillion after customers withdrew money.
After the Reserve Bank of India’s intervention and with a new management in place, the bank managed to raise funds worth Rs 10,000 crore from State Bank of India and from other investors, including ICICI Bank, HDFC, Axis Bank, Kotak Mahindra, Bandhan, Federal, and IDFC First.
Since then, the bank has already provided for Rs 32,500 crore against a maximum estimated loss of Rs 25,500 crore, according to a statement by the bank to stock exchanges on Wednesday.
The US-based new investors have indicated to the management that they would like the bank to clean up its books first so they can invest in the bank in the follow-on offer.
The FPIs are also in talks with Citibank to act as the depository bank to issue the unsponsored ADRs for listing on the US over-the-counter market. “This route would eliminate the involvement of YES Bank from US Securities and Exchange Commission’s (SEC’s) rules. It allows a foreign listed company to avail exemption from the SEC registration and the investor avoids an expensive buying and selling process,” said a banker close to the transaction.
At present, NRIs are not allowed to invest in sponsored ADRs. They can, however, invest in unsponsored ADRs as the instrument is US-based and regulated by the SEC.
This opens up a huge market for investors and helps a self-directed retirement asset client to buy ADRs in the US itself without having to get into a cumbersome process or invest directly in India, said the banker.
The fundraise would be as a shot in the arm for the bank which has incurred a loss of Rs 16,418 crore for the year ended March 31, 2020 (FY20).
According to the bank’s auditor, during the last six months of FY20, there has also been a significant decline in the bank’s deposit base, an increase in its non-performing asset ratios, which finally resulted in breach of loan covenants on its foreign currency debt.
The team tab on the website is down. Asked about it. Reply:
We have terminated some important executives and leadership in the process of restructuring the whole company and hence delinked that page.
We observed in our experience, some top management is lacking international exposure and handling of large size & complex transactions.
It is extremely important for our company to have knowledge in the global domain for the translation we handle, structures we are suggested by Deloitte etc.
Plus we have developed a solid book of business very silently in the pandemic.
News!
Lenders to seek bids for troubled Asian Colour Coated Ispat again
New US-based bidder offers better deal than JSW
Topics
Steel Industry | NCLT
Dev Chatterjee | Mumbai Last Updated at June 15, 2020 20:53 IST
A JSW Steel official said the company is still in the race and is awaiting NCLT hearing scheduled for next month.
Indian lenders are set to call bids for Asian Colour Coated Ispat (ACCIL) for the second time as JSW Coated, a Sajjan Jindal group firm, which was the highest bidder in the first round, is seeing competition. The new bidder is a US-based firm, which has given a better offer than JSW, said lenders.
In a communication earlier this month, the US fund Interups Inc offered to make a better value proposition to lenders than JSW, said a source close to the development. ACCIL was sent to the National Company Law Tribunal (NCLT) for debt resolution in 2018 after the company failed to repay debt worth Rs 5,000 crore.
Bankers said as the Indian economy is expected to witness a sharp fall in the coming months due to the coronavirus (Covid-19) pandemic, JSW Coated, a JSW Steel firm, has not made any payment till date for the acquisition. “We have received another offer which has agreed to give us a better price than JSW Steel. Hence, we have to call for expressions of interest (EoIs) again,” said a source close to the development.
A JSW Steel official said the company is still in the race and is awaiting NCLT hearing scheduled for next month.
JSW Steel had emerged the highest bidder for the company in June last year with an offer of Rs 1,550 crore. In March, the National Company Law Appellate Tribunal (NCLAT) had excluded the lockdown period for counting of the ‘resolution process’ under Section 12 of the IBC. The debt resolution automatically was extended for the lockdown.
The ACCIL debt resolution is still pending in the NCLT and is expected to come up for hearing in July. The company has plants in Maharashtra and Haryana with an annual capacity of 1 million tonnes. According to lenders, they have already received feelers from potential bidders to acquire the company and fresh bids will be called in.
Asian Coated is not the only company where the winning bidder is having second thoughts. Bankers said the pandemic has hit the expansion plans of several companies as sales for one entire quarter collapsed. “There are no takers for good firms and the valuation offered is too less,” said a lender. Besides, many companies, which were announced as winners, now don’t want to acquire and want to re-negotiate,” he said. JSW Steel also won the race for Bhushan Power and Steel by offering Rs 19,700 crore to Indian lenders. It was in negotiations with lenders to close the transaction when Covid hit the country and a nationwide lockdown was announced.
JSW is also awaiting results of the litigation initiated against the acquisition by former Bhushan Power promoters. JSW has already acquired Monnet Ispat for Rs 2,875 crore in 2018 under the insolvency and bankruptcy (IBC) process.
https://www.business-standard.com/article/companies/lenders-to-seek-bids-for-troubled-asian-colour-coated-ispat-again-120061501023_1.html
'There is one immediate opportunity we are taking a position in and that filing is due in a day or two.'
Follow up. I asked about filings
Filings are scheduled for July.
By July we will be regular.
Please watch for our filings. Unfortunately, I cannot write here more unless the information is in the public domain.
But, very generically, There is one immediate opportunity we are taking a position in and that filing is due in a day or two.
We are actually stronger than before
Got a reply about the timeline, because there was a delay due to the pandemic:
(1) Lavasa is rescheduled for July 25,2020
(2) Air India to Sep 30, 2020
(3) Claridges for July 1st week
However, with the pandemic situation, their respective valuations have also come down increasing the value opportunity for our stakeholders.
breaking out
Nope, but see the movement. GL
Because that's not how it works. This was a Lazar shell. He sold it. First thing that happens is name change on Secretary of State. Then the company has to apply for a name/ticker change with FINRA. After it appears on the Daily List you'll see the name change on OTCM. In the mean time they might start filing on OTCM, but it's not necesarry. Just be patient.
Yes, and it was there first year in business. So could be much more now
Name changes are always first in Secretary of State, then the company has to apply for a name change with FINRA. After it appeared on the Daily List OTCM will change the name.
Geez man, it's on NVSOS
Great day!
Not out of the question. Who knows, but it has lots of room for sure
Yep, this could run big
doubt it
Looks that way
EXcoin’s first year’s trading volume surpasses staggering $600M
https://irishtechnews.ie/excoins-first-years-trading-volume-600m/
It is this company. From LinkedIn: EXcoin is the world's first block chain derivatives exchange to launch digital options trading. We offer a variety of innovative block chain asset derivatives to our global customers, operated by EXcoin LTD.
51-200 employees
https://www.linkedin.com/company/excoin/about/
This could be it https://excoin.io/en/index.html The had a news release today:
EXcoin has passed the US merger and acquisition review with a standard financial status.
https://excoin.io/en/news_data.php?id=83
Vitro Biopharma Signs MOU with GIOSTAR for COVID-19 IND Using AlloRx Stem Cells
GOLDEN, CO / ACCESSWIRE / June 2, 2020 / Vitro Diagnostics, Inc. (OTC PINK:VODG), dba Vitro entered into an exclusive Memorandum of Understanding (MOU) with Global Institute of Stem Cell Therapy and Research, Inc. ("GIOSTAR") a leading stem cell research institute based in San Diego, California to jointly partner together for a COVID-19 Investigational New Drug ("IND") to the FDA using Vitro Biopharma's umbilical cord mesenchymal stem cell product AlloRx Stem Cells™ in a clinical trial to treat Covid-19 patients.
GIOSTAR is the worldwide leader in the in the field of stem cell research has its stem cell research and treatment facilities around the world. GIOSTAR is leading the way for filling the IND application for the Covid-19 with US FDA while Vitro will provide its AlloRx Stem Cells™ for use in the study. Giostar has already obtained the expedited compassionate use authorization from the FDA for using stem cell treatment for severe Covid-19 hospitalized patients using AlloRx Sem Cells®. Vitro will continue to seek FDA authorization of its pending IND.
https://www.giostar.com/2020/05/01/giostar-announces-fda-approval-compassionate-use-treat-covid-19-stem-cells-2/
The MOU is an exclusive joint collaboration for use of AlloRx Stem Cells® in GIOSTAR's clinical trial and ultimately the exclusive use of AlloRx Stem Cells® for the treatment of Covid-19 upon pre-market approval by the FDA as a drug treatment for Covid-19.
GIOSTAR in collaboration with government of Gujarat, India is building one of the world's largest stem cell hospital. This is a dream project of India's Prime Minister Narendra Modi. www.Giostar.com. The MOU stated the intended discussions regarding use of AlloRx Stem Cells® at GIOSTAR's various international stem cell facilities that would provide quality and economic advantages.
Vitro is a leader in the manufacturing of umbilical cord mesenchymal stem cells adhering to the highest levels of the International Stem Cell Therapies standards ("ISCT"). Vitro is an ISO 9001 and ISO13485-certified, CLIA-certified and cGMP compliant manufacturer. www.vitrobiopharma.com
Dr Jim Musick CEO/CSO said, "Our evolving partnership with GIOSTAR is a significant development in our strategic initiative to gain a presence in international medical tourism stem cell clinics while at the same time expanding presence in the US markets. AlloRx Stem Cells® continue to gain recognition as superior stem cell therapies through our Cayman Island partner DVC Stem. We are also pleased to be recognized by GIOSTAR as a premier provider of AlloRx Stem Cells® for use in treatment of COVID-19 and other therapies as well."
This was updated yesterday
Tiger Reef, Inc. (OTC: TGRR) is no longer in business and the control block of stock is available for cash sale.
https://www.otcmarkets.com/stock/TGRR/profile
Yes, saw that. Sold some time ago, wanted to buy this morning but didn't get any. Could be a nice one.