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I was told earlier today that he would be available to call this weekend to catch up. Not sure if he has that in mind for you as well, or if he forgot.
I've already asked him about it. He has never even heard of such.
Manage to pull any details from him bud?
He told me it was to levy out some of the liability the auditors would face. They apparently have been hesitant due to the possible legal ramifications.
If they decided to do the Sept 30th audits back when Frack told me, then we should be getting around to that point in like a week or two.
So they'll be done, then Lee will peruse them (or whatever he's doing) with the lawyers, and hopefully everything will be headed our way.
I haven't tried calling since then, because I really wouldn't know what to ask at this point. Lee seems to keep Frack on a leash with info release, so I wouldn't really learn much. Plus, it feels like wasted opportunity to call Frack and simply ask one question over the span of a three minute phone call.
This is a game of patience. Accumulate funds you can live without here, and let it wait in anticipation.
david.fuselier@fuselierco.com
I call whomever I can when it regards my investments. I believe all traders should do so when you're trading smaller companies such as this one.
To the end that David is disclosing more than he should, yes. That's quite possible. The legality on our end comes into effect when someone decides to trade advantageously with said news. I've publicly stated that I'll hold regardless of this company outcome. If I end up with a tax loss, then so be it.
My information regarding the audits and 8-k's is very recent, and comes from email contact I've had over the past few days this weekend.
We're changing auditors because auditors quote a price at the beginning of a job. The removal of subs requires the numbers be adjusted, which in turn requires both more work and more liability from the auditor in question. The previous auditor said they couldn't do the job for that price nor were they comfortable with the liability.
Hence, David's 8-k's. He's publicizing information that would make the next auditors uncomfortable so they'll be more inclined to finish the audits reasonably.
As for a CFO, the board is currently in agreement not to hire one at the moment. They have consulting agreements with several significant figures, to help assist David with the position in the mean time. This decision was put into play to save on unnecessary spending for the interim.
Apparently they would've been more or less on time were it not for Lee deciding to put out the third quarterly as well. Frack was pretty disappointed with the decision and apologized profusely.
I asked him if we would have them this month and his response was to the note of: 'I can't answer that due to Lee's unpredictable timeliness.'
I then asked about the Nevada SOS expiring on the 30th and got the general response of: 'If it takes until then, we'll simply pay it.'
That's about all the info I have bud.
(203) 628-7142
Let them. I'll make plenty of powder when they drop. I'll be as patient as I need to be for that.
Just bought some a few ticks above the bid, and it immediately adjusted and filled. Someone is clearly falsely marking the bid, but I don't have L2 to see any specifics.
I wouldn't recommend texting him.
No buyers bud.
I appreciate the response.
What exactly is pulling the price down during this period? Is it general dilution, or some manner of convertible note?
Man has majority shares. I's need dotted and T's need crossed. He'll make sure this climbs as high as possible when the time comes.
There isn't going to be a "grace period" where people can't buy/sell. I have called four different establishments, and I've consistently been met with "what are you talking about?"
Hey everyone, I have a question about OTC reverse splits. I have shares in a company currently undergoing a R/S, and other shareholders are claiming there's a "grace period" where no one can buy or sell for 30 days. I can't find anything to verify this on FINRA, OTC, or SEC's websites, so I'm curious: is this simply hot air, or is it perhaps on a per individual basis, or am I completely missing something?
I'm hoping not man. We'll see in due time.
They don't, no. They also do not need to be current with fins before splitting.
There's a buyback on the table?
I personally believe there is still some life in this company. The worst is behind us, so David says, and I personally agree. That said, we have a few more hurdles ahead, and they're gonna require some well-timed jumps.
He's cleaning it up slowly. I'm glad to see it officially on paper.
Picked some up on the dip today. Figured I'd join in on the fun!
He feels the R/S will be to the company benefit in the grab scheme. It will stabilize the price, bring in new shareholders, and assist in uplisting down the road.
~5m O/S
David hasn't issues any shares in over five months.
Good idea isn't the wording I'd use. From what I understand it's simply necessary at this point. However, David has news he'll be dropping soon after to pad the R/S with. Audits are done short of a few adjustments, and they are hot on two acquisitions. One from Florida ~$7m and one from Louisiana ~$12m.
1:1000
$0.0001 -> $0.10
I'm expecting that split. David told me on the phone it was currently in the works. As soon as they get back with him we're reversing. And then he's got a bunch of secrets in store for us, so I understand.
Information is as follows:
-Expect more information on an audit date over the coming week or so.
-David mentioned he intends to buy on the R/S to levy impact.
-$12m in Louisiana and $7m in Florida they're deep into. Haven't moved on them yet because they want to clear everything else up and "look competent."
-The 8-k's serve the purpose of posting information from the audits to lessen the liability concerns of the auditors.
-David feels the price will guaranteed be higher by year's end.
-Quiet period was essentially a cleaning phase. "Didn't want the train to leave the station before all our ducks were in a row."
(630) 613-8425
Spoke to David like an hour ago. I'll update everyone on what he said momentarily.
The there times I've spoken to him I always call at 1:00 eastern on the dot. He's always picked up then. Maybe try that time?
From what I understand, the R/S will precede anything else. He's already filed with the SEC and it awaiting hearing back from them. I know for fact the audits need a minimum of a month more work.
Posted on the pre-14c.
They anticipate the SEC to take roughly 10 days to process, and then they'll be applying it the next business day.
I doubt it's RSM given Lee's address. I wager he's working the quarterlies there.
I did find a real estate company pulling around $30m a year, but it's on my laptop so I won't be able to post it until this evening.
13 minute drive*
I've been looking on Google Maps at the surrounding businesses like Frack said, and since the addresses are onloy a six minute drive from one another, I've been sweeping the region over. Big brands such as Gucci, Armani, Bvlgari, Chanel, Hermès, Dior cover the area. Diamond shops, several banks, a Gyn Money Exchange Limited, and countless commercial buildings. There are unfortunately several Chinese businesses I can't make out (damn language barrier), but some do show the general "I'm a financial business" mark on Google.
I will say if you're a watch snob, you'd fall in love with the surroundings. No wonder Lee is taking his time. I'd like to stay there too!