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Not real happy about this:
General and administrative expenses: $574,242
What did they do that costs half a million dollars? Prior to this the company was spending about 10% of this annually. This report leaves a lot of detail out on this.
Then:
From time to time, the chairman, CEO and majority stockholder and stockholders of the Company advance funds to the Company for working capital purposes. Those advances are unsecured, non-interest bearing and due on demand. For the quarter ended June 30, 2015, these parties advanced $15,043 to the Company. On June 8, 2015, the Company issued 30,000,000 shares of common stock at $0.018 per share to repay $150,000 of the advances. Since the fair value of the shares issued is $540,000, the Company recorded the difference between the $540,000 and the $150,000 as loss in extinguishment of debt for $390,000. As of June 30, 2015, the Company owes a total of $16,093 on these advances which are due to two shareholders as follows: Chas Radovich $8,047 and Leroy Delisle $8,046.
Perhaps an accountant can explain this to me. Who did they issue the shares too? Why did they issue them at the lowest stock price point of the year? What do they mean by writing off $390,000 as a loss in extinguishment of debt. Are they saying it costs them $540,000 to eliminate the $150,000 in debt? 30,000,000 shares is substantial dilution if all it paid for was administrative expenses. If it brought the Magatek maching to Vegas and got it operational that is different. They need to explain this. JM2cents
Probably but it still creates some questions I think -
First - What is meant by acquiring the technology vs. acquiring a machine (perhaps nothing and it is just odd wording).
Second - Why lock this down if you still have not confirmed the technology unless they are certain of the technology and don't plan on doing more trials.
They did mention (in a prior release) leasing and moving the machines to Las Vegas. Something I felt they should do all along. Snaper can oversee operations that way and anything they produce can be immediately available for use. Unfortunately everything they produced last time was kept by the former CEO.
Regardless I think it is a positive and am glad to see the movement.
I know someone has been adding to their position recently. This may the best buying pps we see from now on.
OK - I definitely have some questions now:
The Company signed an agreement to issue 6,150,000 shares of common stock as consideration for the acquired Autogenous Impact Mill Technology. The shares have not been issued as of June 30, 2015.
I am assuming this will be from the non-issued shares meaning some dilution. Not huge but worth noting. The bigger question is what is it for and what does it mean by "acquiring autogenuos Impact Mill Technology"? The technology already exist.
SAG is an acronym for Semi-Autogenous Grinding. SAG mills are essentially autogenous mills, but utilize grinding balls to aid in grinding like in a ball mill. A SAG mill is generally used as a primary or first stage grinding solution. SAG mills use a ball charge of 8 to 21%.[6][7] The largest SAG mill is 42' in diameter, powered by a 28 MW (38,000 HP) motor.[8] A SAG mill with a 44' diameter and a power of 35 MW (47,000 HP) has been designed.[9]
Attrition between grinding balls and ore particles causes grinding of finer particles. SAG mills are characterized by their large diameter and short length as compared to ball mills. The inside of the mill is lined with lifting plates to lift the material inside the mill, where it then falls off the plates onto the rest of the ore charge. SAG mills are primarily used at gold, copper and platinum mines with applications also in the lead, zinc, silver, alumina and nickel industries.
Could be that their intent is to grind larger diamond particles down more for commercial uses including possible doping of chips. But without any more information it is hard to say. I cannot think of any other logical explanation.
The fact that they entered into a tentative agreement does show they have something planned and are working on it.
If it is significant and they put the news out when ready stock price could explode :) I know that hurts everyones feelings.
It is the low float. Most of the shares are held by a handful of strong longs. It does not take a lot of volume to push the PPS. If they ever start putting out regular progress reports this will move up quickly.
You do understand that it IS a Notes payable don't you? Do you have any idea how many notes payables are defaulted on each year in the US? I don't but it happens all the time. You might have hold a lien on the mortgage or the title to the car etc. etc. but defaults happen. NOBODY puts funds up, even with an ironclad notes payable, unless they believe in the ability of the person, entitity to pay it back. That is about as basic a fundamental principle in finance as there is. That is all I am saying. Words may say it is guaranteed but reality in the world of business and finance is completely different.
If there is no money then no one gets paid - regardless of guarantees. TDCP has no money. If they went bankrupt then the only thing of value is the patents. I believe they are worth far more than 200k but he has much more than 200k invested. I don't expect them to go bankrupt (that was my point - apparently he does not either)but if that happened then assets would be sold, lawyers fees paid, note holders paid and then preferred shareholders paid. If they got enough value when liquidating then he could cover his investments. But there is simply too many unknowns to just assume he will recoup his investment. I know you don't think it is a big deal that he did this. But it does show confidence on his part. He knows things we don't and he obviously believes they can put together a partnership, JV or other arrangement for funding or he would not have done this. I think Clonefan was correct. They are cleaning up the toxic debt so they can put some kind of deal together. If you have another theory I am certainly open to listening.
Nothing is ever guaranteed my friend. Did he stack the deck in his favor? Sure - I would be concerned about him if he did not. But his 200K as well as his other investments are still at risks. He would not do this unless he felt confident in future prospects.
NO CEO would put up 200K of his own money at this point unless he truly believed that A - they would be successful obtaining funding or B - They could be acquired by a larger partner. My money is on the acquisition. They have a lot of faith in this technology and apparently a lot of interest from some big players. GLTA
So help me out here - How can the bid and the ask be the same thing and no orders filled. Seems the .0003 ask should be gone and moved up to .0004 or the bid should drop to .0002.
I would not be shocked to see some dilution. It is what I was trying to avoid. But it is normally the fastest, easiest was to get funds. The good news is that the float on CTDT is ridiculously low. You would be hard pressed to find a lower float I think. So as long as the dilution is reasonable it should not impact us too much I don't think. My biggest fear was that this group would just use Snappers name and patents. It looks like they are actually working to move things forward and that is encouraging.
JD - I have not. To be quite honest I was astounded that I was told by Mr. Anthony to wait while they let this process work out. I had investors lined up to cover the 400,000 initial trials and if they went well then I had additional access to investors capable of putting in millions. To not even meet with those investors is just nuts.
I very much believe in this technology and in Mr. Snapers science and inventive genius. The lackadaisical approach to funding and driving the process is very disturbing, however. I have no faith in Mr. Anthony (he has been advising Mr. Snaper for nearly 20 years and look how that has turned out for him). The new management seems to have a decent plan in place. I actually think they may be able to pull it off but I have two concerns. One is the pace at which they are operating as already mentioned. The other may not be valid but I get the feeling that they are using CTDT and Mr. Snapers patents to forward their own agenda and not the CTDT agenda. I think that might be why the process seems slow. This is based on prior conversations with Mr. Anthony, LT and Mr. Snaper.
I will continue to give the new management an opportunity to prove themselves effective. If after a year from the date I was told to stand down they have not accomplished anything I will consider reaching out again. I will have trouble bringing on the same investors though. Being put off the way they were screams of bad management and red flags.
Fortunately I don't anyone else is close to developing this technology so we have time (I think). I am still holding strong and wish everyone the best.
You may be correct but the fact that Schott and several defense contractors have given letters of endorsement leads me to believe there is something unique/valuable with the technology. I hope so for all of our sakes. Funding depends on it and pps depends on funding. Best of luck.
rbairos - just speculation on my part but I think the companies you mentioned would naturally look for a different kind of product. 3Dicon is focused on high end users to make their work more effective (defense, medical, etc.). It is not practical for the everyday consumer and does not lend itself to expanding and growing the market for these types of companies - google, etc. These companies operate in the retail customer arena and build/buy technologies that help them expand their products and consumer use. At the retail level there are a lot of 3d technologies that can explode offering mega opportunities for new products and services that the type of companies you mention can benefit from. 3dicon simply does not fit the strategic vision of these companies in my opinion. Totally different markets each with vast opportunities for growth.
33 Million
Wow - quite the newsflash - got any other nuggets to share!
None that I can tell other than the fact that gold mining companies are buying and selling assets. I was just correcting the figure of 320 million quoted earlier and providing evidence to those who stated it was just a rumor.
Mitch - a lot of the short term focus may be on the fertilizer. What I was told (and why I was put on hold) is that this group wanted to use the fertilizer patent to improve their existing line. The idea is that the sales will provide cashflow for CTDT. I don't know much more than that. If it stabilizes CTDT cash wise and can be done quickly then I have no issue with it. I think the problem is they still need funding to push CTDT and I don't want the funding to take a back burner. They should be aggressively looking for it. Hopefully they are.
These are two very good developments. Delisle brings credibility and common sense voice to the org. This is exactly what this company has been lacking. From my time visiting with the Snaper's I found his wife to be strong and sensible. I think the two of them will add a lot of stability to the company. With LT, Carlisle and Mrs. Snaper this company has exponentially more business savvy than at anytime in the past. For the first time in a very long time I feel that the company will actually start executing a plan. I think the time is coming when it will be a great thing to own stock in this company.
Nice to see some progress and that they have Li back in the fold. Perhaps LT walking away and a letter from disgruntled shareholders shook the tree a little. LT has a great passion for seeing this companies success and is a good ally for Mr. Snaper. Still not sure how the BAST relationship is structured. If BAST falls through but LT is in the picture I think we have the ingredients/players on this board to start the process. Either way I am encouraged.
If anyone is interested I have a link (invitation) to join the new brokerage firm Robinhood. They don't charge fees for orders. I signed up last year while they were in planning stages. Unfortunately they only operate on an Apple platform (ipad, iphone and ipad-touch). I use android system so they won't let me sign up but will let me share my invitation to someone (via link). They have over 500,000 on a list so you can jump to the top if interested. First person to respond to me gets it. I will need an e-mail address to send the link to.
LT gave my letter to Mr. Snaper who read it to the board. As of yet I have gotten no reply but perhaps it will move them to some action. I will follow up personally with Mr. Snaper soon.
Just sent a letter to LT to give to Mr. Snaper. It was fairly gentle with hopes that it will allow us to open further dialogue. I will let everyone know what kind of response I get.
No idea - I have not talked with him since he told me they were close to a deal with this other group. He said he would call me if things did not work out. One of the first things I will try to find out is what exactly this group is supposed to be bringing to the table and what they got for it. Second thing will be what the company still needs in order to get the proper "recipe" finalized. Third will be what kind of structure and operation they are planning once that is done.
Most of that information should have been released in an 8K. I think we have legitimate complaints and leverage to get the information. That will be my starting point. What we do next will depend on the answers.
I am actually hoping to pick-up some more shares soon. I still believe the technology has far reaching potential (well beyond just making diamonds). I want to make sure they don't end up losing the technology. That is my biggest concern. Mr. Snaper spent most of the last funding package on legal fees to get control of the patent back. That is why they were not able to finalize the recipe with that funding. I certainly don't want him to have to go back through that again.
Not so sure it was Snaper. He puts a lot of trust in David Anthony and David brought this group and deal to him. Snaper has been working with Anthony for over 20 years. I am not so sure Mr. Snaper has really benefited from the relationship the way he could have.
I have - will wait to hear from you.
Hey guys - Hope everyone is doing well. I am still holding my shares and have hope for this amazing technology. I must say I am very disappointed in the direction they chose to go however. I was prepared to bring them investors to the tune of $400,000 which would have been sufficient to get through the trial and recipe stage. David Anthony said wait because he had this other group and wanted to see what they had to offer. From my perspective they don't seem to have offered anything. I have no idea what kind of terms they have in place or what Mr. Snaper gave up but I would have expected them to bring money and it does not appear they have.
I have been too busy to push the issue and wanted to give them time to prove they really were going to put something together but after the new year I will start pushing for answers and some form of action. I think LT is being kept in the dark also. I just hope Mr. Snaper still holds control of his patent. If he does we can still get something done. If he does not then it will be a bit more challenging.
At the start of the new year I would like to organize an effort from shareholders to get REAL updates, ensure the company is current on filings and get a realistic time-frame in terms of action. I figure I will start with a phone call and then a follow-up letter. The more shareholders willing to sign the letter the better. Let me know if you have any interest. Thanks
Merry Christmas to everyone.
Lets make 2015 the year CTDT makes us all happy instead of frustrated!
I can live with that :)
So unless the company gives you a raw number you can't figure anything else out? Come on TenKay - you have proven you are quite intelligent. You know better than that. I would be OK with you saying the book value as of last financials was... But we really don't know what it is today. Could be higher - could be lower. And as investors we should be able to analyze that kind of thing in order to make an informed decision. Last stock I invested in I flew out to the company two times to meet with them and look at their product and discuss plans and management. It is so much more than looking at stale financials. Are they important - Sure - but they will always just be a snap shot in time and always subject to creative accounting :) Just ask former Enron stock holders what the "book value" was for Enron the day before it tanked and what it was the day it tanked. Just saying!
In other words NO evidence to support your claims.
Of course it does not include speculation. But IT IS a snap-shot in time. All accounting is. The value of assets can change on a daily basis depending on the asset. Book value today is not necessarily the same as book value tomorrow. IF you don't understand that you should never invest a penny of your money. Things depreciate, market conditions change, new facts are introduced! ALL of these things effect book value. Accountants just have to pick a date and prepare financials. In manufacturing then raw materials inventories change daily, current inventory changes daily, depreciation occurs. Guess what that means. Book value changed. They just don't redo the financials. Every move in gold or re-assessment of gold and mineral reserves can impact the price of the land-holdings GNCP owns. IT IS a moving target. And I promise you the big dollar investors believe the book value is much greater than -20 million whether you do or not.
From a purely accounting standpoint this is the book value. However the value of the mine holdings are generally "priced" at the land purchase price (accountants like hard numbers). As the company does assessments and further explorations those prices are subject to change. Also as gold prices fluctuate those prices are subject to change. That is why I said and still hold to the statement that it is difficult to accurately establish a TRUE book value. This is not a retail or manufacturing business. The value of the gold and other minerals the company holds are hard assets but will never be directly reflected in the basic accounting books because an accounting firm is not going to use a "moving number" or a valuation based on opinion (even if scientifically based). They will always use the conservative market assessment (generally the sales price) of the land.
This does not automatically mean the land will sell for more. It could actually sell for less meaning book value is overstated. We can't really know unless the company decides to liquidate some of these assets.
I am not sure we can accurately establish true book value. I would assume that the loans and different preferred stock options and types which GNCP is using for acquisitions is based on some kind of valuation of the company. I doubt they could close these deals if the investors thought book value was a negative 20 million. These types of investors want security. They must see something or they would find a better investment.
The real question for us small potatoes investors is what do we believe. Is company management legitimately trying to build a profitable company or are they simply scammers taking advantage of penny-land. You believe they are scammers (from your postings - which begs the question "why are you here?"). I am willing to risk a small amount on the hopes that management is the real deal and there is real value in the company assets and business. If I am wrong I have not risked any food money so I am ok. Hopefully no one else does either :) Best of luck to all!
I believe this would just be gross earnings per share. Earnings per share would be the net profit divided into outstanding shares. Book value is the "liquidation" value of a company. What are the assets worth. So book value would include things like buildings, paper(notes,licenses,patents that had value), equipment and in GNCP's case land holdings and mineral deposit value. I don't have the estimated figures for the land and gold value holdings but I can assure you that the true value of the company is in the gold holdings. The value of the gaming companies is that they provide cash-flow to cover operational costs going forward eliminating the need for loans, stock dilution or other forms of toxic funding. As acquisitions continue hopefully it will become a realistic revenue stream as well. It really is a sound business plan as long as they continue to execute it as stated.
The company has put out numerous PR's and other statements saying they are going to execute a $750,000 buyback of shares. They have never stated they are not doing this. Why would this be a question? Until they issue ANY kind of statement saying it is cancelled then why would anyone assume they are not going to do it? They have to wait 10 days from the effective date of re-domiciling to Wy. It won't start any sooner than that because they are legally constrained.
9 Days is when the company can begin its share repurchase program.
Thanks Mitch - David shared it as a patent along with many others he and Mr. Snaper shared with me. I knew he was still working on it but thought the initial patent was secured.
The first thing he did was look at ALL plants and identified every nutrient they needed (I believe there were 71). Most plants only need 10 to 20 of them but he put all 71 into the fertilizer so it meets ALL plants nutrient requirements. I know he put other things into it as well to induce growth. His plants are growing 3 times larger than normal in less time. Whatever he did seems to be really effective.
If you look at the Blast website you will see that one of their interest is agriculture. They were very interested in the fertilizer.
The vision these guys have along with experience in building companies is exactly what Mr. Snaper needs. Hopefully the deal they put together is fair and protects Mr. Snaper and all the CTDT shareholders.
It is encouraging to see some action finally. Perhaps it is the beginning of some really good things.
I have seen it. I don't know how it is listed but trust me it exist and is very good. I could explain how he developed it and why it is good but I don't want to take the time.
I recommend you call and ask Mr. Snaper if you question it.
Yes he does. He has a roomful of patents that are amazing that he has never done anything with. He needs a business unit to begin putting these patents to work. Many of them are capable of being very successful independent businesses and some of them (like maganatek) are ground-breaking.
I looks like the new group intends to put a lot of the patents to work. I hope that CTDT really will get some stock ownership in that company as part of the final details. If it does then CTDT shareholders would end up getting benefit from all of Mr. Snaper's patents that they put into use.
With Mr. Snapers patents and a solid reliable management team to put them to work then we could see some amazing things.
Of course I am not privy to the details of the deal. I know what they were initially proposing. I hope they stick to that formula.