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This company is a complete turd!
Trying to figure out if this is a repeat of the March 12/13 pricing action or if this is a legit move upward. Definitely seemed like there were shenanigans when this thing broke from $0.011 to $0.014 in a heartbeat and nosedived.
Also, there were a few hidden bids right at $0.01 that kept this thing from cratering end of day.
I'll probably hold my small position through tomorrow on the off chance that this takes off.
Dude, they converted their shares at like $0.002. All of the other notes were set up that way too, with the exception of the latest one that didn't have the 180 day lockup period. It was convertible immediately. Every wonder why the price dropped from $0.10 to $0.003 so quickly? Because that last lender converted their shares immediately and drove it down (at least that's what it looks like).
If you do the math, these note holders can (and it looks like they have) convert the entire O/S and pump into the market. The only way this proposed deal made any sense, was if it had already gone through, and PCTL was somehow using the money to buy the shares back on the open market.
Given that the deal hasn't gone through, it looks like John Q. Public is the group that has been buying the shares. I don't see anymore authorized shares that they could even promise to a lender at this point. Only thing they could do is authorize more shares (not likely at sub $0.01) or, more likely, reverse split and then authorize more shares.
At least that's my interpretation of their publicly available documents. Maybe I'm wrong? Would love to hear an alternative take on this that is well reasoned and sourced from the documents.
Well, he did tell us this was another SH*MP. He just didn't tell us it would only be the dump part ;)
Whelp...total con job from jump. Luckily only out a few hundred bucks. Thought there might be an outside chance that they were using the money to buy the converted shares at market rates. Nope.
Part of me wants to buy out that entire wall at the ask, but I don't have the balls to do it.
Given that the lights are still on, a deal with someone is pretty likely.
These guys have almost zero cash on hand. The magnolia deal falling through screwed them and set the stage for conversions that max out the A/R. They really can't sign any more notes right now, because the can't collateralize them with shares.
Also, I find it hard to believe that retail has propped this stock up through all of this massive dilution. Float has quadrupled, and the price is still roughly where it was when the 8K dropped. If it were the ham and eggers on this board buying the shares, the price would likely be back in the $.003 range.
Someone is buying the shares, and Pctl has enough money to keep the lights on. Sounds like that aligns with the deal that was loosely laid out in the 8K.
Just an opinion.
This thing is a steal under $0.02.
Doubling my position Monday.
I've basically been using this turd like an ATM the past few weeks. If you can't spot the pattern, you need help.
Need this to come back to $.006 so I can re-flip.
This one hasn't even had it's run yet. Clean shell. I think it should hit at least $0.05. Could have a higher ceiling with news.
Flipped this for beer money. This stock is allergic to $0.01
Lunch run?
Told you guys this was going to run
Starting to make sense now. Also explains why magnolia was interested.
Market cap on this puppy should be much higher imho
Yeah, pretty sure this thing is ready to take off. Company is still a turd, but the pricing action is solid. They must have something going on behind the scenes.
Ram - I bought into this turd today.
Tomorrow should be fun
I guess it's possible that pctl has been using the $1,450,000 loan to buy up converted shares from their noteholders. At am average price of $0.015 that would buy roughly 100M shares.
Weird that they would do it on the open market and not just negotiate a price with the noteholders though.
You were saying?
Yeah, it's called using math and logic.
I was wrong.
This isn't a pump and dump.
It's just a dump.
If this deal didn't go through, PCTL is completely screwed. They have like $10K in cash on their balance sheet, and exactly zero remaining A/S to dilute once the current noteholders finish converting.
They'll have to quickly raise the A/S, and issue more notes just to keep the lights on. I can't see any way that management would have walked away from anything put in front of them by this new group.
Deal probably went through if the OS didn't change.
Note holders could have converted every single one of those shares up to the A/R at $.002. the fact that they didn't could mean that pctl used the $1M from the deal to directly pay off the note holders for the remaining 100 million shares.
Looks like volume dried up. They'll probably need to paint the tape to sucker in more baggies!
None of you read the 8K.
These are penny stocks. Timing is the ENTIRE game. Thats like a shortstop saying "if only I could figure out that whole hitting and fielding thing I'd be set!"
Least effective pump ever. Sad!
Sniff, sniff...turd confirmed
July 17th and 18th were the 9th and 10th trading days if you count back from today. Both of those closed at $.003. after that, the closes were in the $.009 - $.025 range.
Most of the notes let them convert at a 40% discount to the average of the lowest two trading days across the last ten days. Which means tomorrow will be the last day they can convert at $.002. after that, they will be converting much higher.
Occam's razor - if they are converting their shares and selling to retail, then they aren't bulk selling the notes back to pctl with the escrow money. Why would they? Their return on converting and selling back to us (RETAIL) is MUCH higher.
Also,all of the notes have stiff prepayment penalties (30%-50%).
And this is the second Canadian shell company signing a LOI with the company in three months? Reminds me of how everyone has that one friend who has a fake girlfriend that "lives in Canada".
PCTL is that friend. Ontario is the fake Canadian girlfriend.
All of the magnolia posts from April were scrubbed.
Went back to see what the consensus was here on the Magnolia deal that fell through earlier this year. Magnolia issued a LOI that expired in April. Unfortunately there are only 10 posts before mid-June.
Weird.
All of the notes have some sort of provision allowing them to convert at the average price of the lowest two trading days of the last 10 days. They also have a provision that they can't convert such that they will own more than 5% of the O/S at any given time. Explains why they didn't just pull the trigger and convert everything at the lows of mid July.
Those loans were taken out in January- March when the share price was like $.15.
Makes you wonder if this was an engineered takedown, or they got caught with their pants around their ankles when the merger with Magnolia fell through.
I wouldn't hire Shift Now to mow my lawn.
If I had to guess, they're rolling up the cost of digital advertising for their clients into their "revenue". Can anyone else explain how gross margin is so low for an ad agency?
Even better. Guy gets promoted to CEO and almost immediately orchestrates a complex P&D scheme that involves getting a letter of intent written up and signed by a third party?
I mean, I guess anything is possible. Just seems like there are easier ways to pull off a good pump and dump.
This doesn't make much sense as a pump and dump. New CEO comes in to a company that has an actual product (unlike most of the OTC garbage). One of his first orders of business is to trick or collude with another business to sign a letter of intent? The LOI then juices the stock price so that the note holders make more money when they convert and dump?
I've got to say, if this CEO got a third party to sign an LOI to support his pump and dump, then bravo. Well played sir!
Or, more likely, the LOI was legit and they really are finalizing a deal.
The fact that the share price hasn't completely collapsed in the face of these note conversions leads me to believe that the smart money knows that the deal on the table is real.
But then again, who really knows?
You are the magic buyer.
Weird - if it's going to $0.05, why would I care about bashing it from $0.008 down to $0.007?
And to say there is no dilution is pretty odd. The notes are converting. Read the 8k and 10q for yourself.
No dilution? It's spelled out in the 8K and the latest 10Q. Go read the note maturity dates and line them up with the days where volume just began to appear magically a couple of weeks ago, after months of non-existent trading.
Company took out loans to fund executive salaries. Now the company is using those shares (which converted in the triple zeros) to pay them back.
Kind of like Herbalife, but without actual product.