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D3 I think you're wrong here. They sold all of ENZC except robustomed. Today's filing states that they (ENZC) owns 90% until the dividend is paid out, at which point ENZC owns no assets and has no operations. We do not retain 90% of it. We retain 0% once they pay the dividend.
The issuance of the Purchase Shares to Company E will result in a 90% plus ownership position of Company S until the Purchase Shares are paid as a dividend to the shareholders of Company E.
After the dividend to Company E shareholders, there would be no assets or operations in
Company E, but management would be able to purchase new operations or develop other
products that would be the assets of Company E. The Company E common shares would
continue to trade on OTC Markets as a new business strategy is implemented.
Catpole, I cannot stress how badly I hope you are correct. Today's filling literally made me sick to my stomach. These past 2.5+ years I've been hoping/praying that Charles would keep his word and deliver the things he's been talking about, but I genuinely see this as nothing more than giving us a reverse split while selling the company for $450M. I know you disagree, and thats ok, but I cannot even put into words how disappointing I found today's filing.
That said, I feel especially bad for those who purchased ENZC shares at .30, .40, .50+, and those who hold smaller amounts. They're getting royally screwed.
LOL... Agreed SA..... Earlier I said they'd push us back to .0475ish before close, so he was sitting there waiting/hoping I was wrong (i was hoping I was wrong too, but I know the pattern all too well) so he could type that... I'll let him have his moment....
I know. This was years ago. I'm trying to find it in the filings. I can't remember what year it was/which filing, but If I'm remembering correctly (pretty sure I am), there were some debt holders that agreed not to convert, and instead were moved to the subs. At the time, all of us on the board loved it and though Charles was protecting us/ENZC, but he had to have shown/told them something, to get them to hold off converting/moving to subs.
Timing - Do you remember this? If so, do you remember what year/filing it was in?
A while back, at the end of 2020 or 2021, we had toxic debt holders that I believe took shares in the subs instead of converting the remaining shares they had in ENZC.
Well, now we know the answer as to why all of those toxic debt holders agreed to take shares in the subs. We were led to believe that Charles was protecting ENZC, but really he must've had this planned for a while. Didn't have SAGA in the works back then, but it would seem that he knew all along that this was the route they were taking, otherwise those toxic debt holders wouldn't have taken shares in the subs.
Now, that brings up the inevitable question, if he knew back then and/or that is what he discussed with those toxic debt holders to get them to take shares in the subs, why did he continuing stating that they were working to get ENZC SEC Reporting and uplisted?
Natty - It depends how you look at it. Many of us have been here for 3+ years and have passed up on 7+ figures because we were led to believe that ENZC would be the one to realize it's true value. We were told C3 alone was worth over $9B per year. For years, we got #Uplist and #Audit and rocketship icons from Chandra on Twitter, not to mention his talk of yacht buying. We were told ENZC (NOT SAGA) was going fully SEC Reporting to get out of pinks, misleading everyone to believe they were working towards moving ENZC to the bigger exchanges. . Instead, they sell off everything of value for $450M, leaving ENZC with nothing. We end up with a fraction of the shares that we currently hold in ENZC, and those SAGA shares will also be short-term tax shares.
Will we/can we make some $$ off of the SAGA shares? Sure. Will it be anywhere close to what we were led to believe was coming to ENZC? Not even remotely close. They're giving us a Reverse Split. Anyway you dice it, that's what it comes out to. Over the next few weeks as the pps drops into the 03's, and probably lower, people will start to understand it.
Couldn't agree more. They're using SAGA to avoid calling it what it is. A Reverse Split/Slap in the face.
Bonnie, the way that I read today's filing is this. Let's say you own 1M ENZC shares. With this, you'll end up with 14,946 SAGA shares for every 1M ENZC shares you own. Once those shares are given to you via dividend, ENZC will own no assets and have no operations, so while you will still own 1M ENZC shares, they will be absolutely worthless with no ops, assets, and it seems mgmt will be at SAGA. Even if they have duel roles SAGA/ENZC, what are they going to be working on at ENZC, when it owns no assets? As I've been saying today, this is nothing more than a reverse split, but because you'll end up with SAGA shares still retain worthless ENZC shares, they're not calling it a Reverse Split. It is a slap in the face for those who held strong when they could've cashed out for 7+ figures.
Before you ask, I arrived at the 14,946 based on what the PR said. They are taking 45M SAGA shares and giving to ENZC shareholders as dividend based on % ownership. If you own 1M ENZC shares, that is 0.0332134% ownership of ENZC.
0.000332134 x 45,000,000 = 14,946
14,946 X $10 pps = $140,946
Xtermetz1 - I obviously completely agree. Yes, we were 100% misled over and over and over again, only to end at a reverse split, and some are rejoicing in it. Unbelievable!
Regardless, I'm not joking when I say that those of us who see this for what is, should start researching class action legal avenues, because this is the biggest kick in the balls/slap in the face from Charles & Co. When all is said and done, we end up with a fraction of the shares we currently own, and with no assets or operations, the millions of ENZC shares that we own will be worthless/back in trips at best. How can anyone see this as a win. Especially those who may only hold 100K shares or so, which they purchased before the nonstop intentional and allowed control/push down began? They're royally screwed!
2b I really don't know. I believe the tiny bit of green seen today will be completely erased tomorrow as usual, if not by end of today. I believe that those who are actually excited about this are missing the fact that ENZC will be no more after the dividends. We're not getting SAGA and retaining value in ENZC. That is not happening. While we will retain our ENZC shares, they will be worthless. They clearly stated in today's filing that ENZC will have zero assets and operations after the dividend is paid. So the millions of shares that many of us have been holding because WE WERE LEAD TO BELIEVE THAT ENZC (NOT SAGA) WOULD BE GOING SEC REPORTING, AND WOULD REAP THE BENEFITS OF THEIR TECH AND APPRECIATE TO TRUE VALUE, will actually become worthless. In return for those millions of shares we've all been holding, we will get thousands of shares of SAGA. It is 100% a Reverse Split, but because the resulting shares that we're getting (fraction of the ENZC shares we own) are SAGA and not ENZC, they're not calling it a Reverse Split.
I've been warning of this for a while. No matter how great we all think a pinkie CEO, they always turn out the same. They all view us as "penny holders" and in the end, we always get the same thing. Less shares valued higher, which is a reverse split.
I hope you right MAtat, but I don't believe so. What they put out today is exactly what I was afraid was going to happen. The millions of shares we're holding in ENZC will become thousands of shares (Short term tax shares) in SAGA. It is the equivalent of an RS.
its ok if you don't understand. One day you will....
Give it time genius. They will push us back under 05 prior to close. Same thing every day. I wish they wouldn't but that won't change it.
I say dumping because they are dumping the newly unrestricted shares. This is when OTCN joined the party, as well as INTL on the ask side.
Yes, but the problem is that they are there to dump. I've been wondering why are they dumping so much if ENZC future and this deal is so bright? Today's news gave me the answer to that.
rocky - interpret as you wish. PUMA/OTCN/INTL are in complete control and nothing I say/do can change that. We've seen this for 2.5+ years straight, all I've done is point it out.
In regards to today's news, I don't know how Dyno and I are the only ones to see it, but they just told us they're RSing us, without RSing. Because the resulting shares will be SAGA, they're not calling it an RS, but that's exactly what it is. They clearly say, once the dividend is paid, ENZC will have no assets or ops. How much do u think our ENZC shares will be worth when that happens?
I hope I am, but it appears to me that the 3-amigos are still controlling the ask, and dropping as soon as they get the chance. We've seen this over and over again for 2.5+ years straight. As soon as they can get the ask back to 05 or less, they'll immediately stack under it, and thats all she wrote. It never changes. As much I'd love it to, it just doesn't.
This is just the most recent from 2022, when they "completed" 2021-2022.
https://www.otcmarkets.com/stock/ENZC/news/Enzolytics-Inc-Announces-the-Completion-of-the-2020-and-2021-Audited-Financials?id=384232
Enzolytics, Inc. announces the completion of the 12/31/2020 and 12/31/2021 audited financials. The Company has refiled the 12/31/2021 Disclosure Statement reflecting the completion of the audit covering 2020 and 2021. These filings provide investors with detailed audited information about the Company's operations, business strategies, and financials. The reports will assist the Company's investors in understanding the Company's operations and its focus. In conjunction with the completion of the audits, and as part of the Company's ongoing commitment to transparency and accountability, Enzolytics is planning to become a fully reporting 34 Act Filer with the SEC.
Where is the AI Intellectual Property going to be at:
AI is owned by BGEN, and therefore will belong to SAGA
100% correct! It is the equivalent of an RS, only the result shares that we end up with, would be in SAGA. Because of this, they're not calling it an RS, but thats what it is.
Whenever the dividend would happen, ENZC shareholders would own their proportional amount in SAGA shares, ENZC would hold no more equity in SAGA and all of VIRO and BGEN, plus IP and licensing, would belong to SAGA. ENZC would be left with its ticker, its lawsuits, its subsidiary RobustoMed, and would probably need a new management team since the current team has announced new roles at SAGA.
ENZC will be a worthless shell with no assets or operations? What do you think our shares will be worth? Not to mention that our entire mgmt team will be moving over SAGA.
After the dividend to Company E shareholders, there would be no assets or operations in
Company E, but management would be able to purchase new operations or develop other
products that would be the assets of Company E. The Company E common shares would
continue to trade on OTC Markets as a new business strategy is implemented.
Or all of the Chandra #Audit and #Uplist tweets?
Are you serious Timing? You don't remember Charles stating that audit was a priority to get out of pinks?
It also gets rid of the millions of shares many of us have been holding, as well as the company we've been holding them in. In return, it gives us thousands of shares in it's place. I'm pretty sure there's a term for that....
Like I said, give it an hour or two. It is a 100% guarantee that we are pushed right back under 05 before close. There's a reason why all the OTCN, INTL, STXG dumping has been taking place, and now we know why.
I honestly cannot believe that people can't see this for what it is, a Reverse Split. Only they're not calling a RS.
Give it an hour or two. They'll drive us right back down to .045-.0475 guaranteed. This is just another head-fake for ALPS, INTL, OTCN, and STXG to dump more shares. Now it makes sense why they've been dumping.
I knew we were f'd when Charles discretely slipped into the first SAGA PR that "ENZC will continue trading on pinks." This is after 2.5+ years of telling how much of a priority it was to get the audit done, so they could go SEC Reporting and get out of pinks. Un-F-ing-Beleivable!
Maybe, and we'll hold a fraction of what we currently hold in ENZC... Not to mention smaller commons, those with 100K, 200K, etc... get royally screwed, as they'd only end up with 1,495 for every 100K shares they own.
Tell me about it. I'm honestly thinking that we have grounds for class action. Been told for 2.5+ years by Chandra "don't chase daily prices. ENZC will have its day and explode..." Charles told us for 2.5+ years that the audit was priority #1, so they could SEC Reporting and get off of pinks, but now it makes sense why slipped in the first PR that "ENZC will continue trading on pinks." Bait & Switch..... They literally just told us that they're doing a RS, without calling it a RS, and people are jumping up/down? Unreal!
SAGA will be the one licensing, not ENZC. ENZC will go away/become shell with nothing. They clearly state that. "No assets or operations in company E"
After the dividend to Company E shareholders, there would be no assets or operations in
Company E, but management would be able to purchase new operations or develop other
products that would be the assets of Company E. The Company E common shares would
continue to trade on OTC Markets as a new business strategy is implemented.
SA - What they're doing is the equivalent of a RS. Anyway we dice it. So that's what we've been holding for?
What they did was just obliterate the reason that many of have held through this ridiculous intentional bloodbath for 3 years. How many times did Chandra tweet that ENZC would have it's day where it explodes? Yachts, etc....? Now they tell us that millions of shares we're holding will turn into a thousands of SAGA shares, and goodbye ENZC? As I suggested before, it is the equivalent of a reverse split. Those with 20, 30, 40 million+ shares might end up ok, but any smaller commons will get destroyed, same as they do in a RS.
So, it seems that those of us suggesting our hopes of ENZC reaching the pps levels (we were led to believe in permanent ink on internet via Chandra tweets), will in fact be going down the drains. In other words, if SAGA remains valued at $10 or higher, for every 1M ENZC shares you hold, you will receive 14,946 SAGA shares. However, once you get them, the value of your ENZC shares will be worthless, as the hopes/dreams that we've all been holding ENZC for go down the drain.
ENZC OS 3,010,833,104
ENZC Shares Held 1,000,000
% Ownership 0.033213%
SAGA shares Gained 14,946 (45,000,000 x % above)
SAGA Value ($10) $149,460
Am I the only one interpreting this? Just as many of us suspected, ENZC will be worthless after this. If anyone sees that I'm interpreting this wrong, please correct me/let me know.
After the dividend to Company E shareholders, there would be no assets or operations in
Company E, but management would be able to purchase new operations or develop other
products that would be the assets of Company E. The Company E common shares would
continue to trade on OTC Markets as a new business strategy is implemented