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MANY stocks on the OTC file as Alternative Reporting Standard instead of SEC reporting, you can see which a company uses under Company Profile. Its a cheap way to allow for a stock to be tradable, and there is a template that is used as a basis for the reports that includes basics like balance sheet, income statement, as well as information on any shares issued, etc. Im told we can do a quarterly report for about $3K for Mirage compared to maybe $15K for an SEC quarterly, maybe more.
Basics on the standards can be found here:
https://www.otcmarkets.com/learn/reporting-standards
The standards for Pink Current and Pink Limited companies in the form of a Word template can be found here:
https://www.otcmarkets.com/files/Disclosure_Guidelines_for_Bank_Reporting_Companies.docx
A useful Market tier chart can be found here:
https://www.otcmarkets.com/files/15c2-11%20Tier%20Chart.pdf
this is an interesting video as well for advanced folks:
Take note that the OTC Markets Verified Profile for Mirage Energy is now 5/2023. Last I check of my calendar tells me that that is the past few days
Folks, we're moving forward on all fronts, and we're going to file as Alternative Reporters, it's just a matter of time. Hang tight (I realize it's been years).
Yea I dont like that and they dont document that either.
Based on history I think we will be just fine. As I have mentioned I am most concerned about our debt and profitability. If American local companies can make it, then they should be able to make it. My guess is flat revenues, I will be looking at profit.
IPSIPay Express New Business Line to Broaden IPSI’s Digital Payments Services Into the Fast-Growing Online Gaming and Entertainment Sectors
Wow !!! would have expected more movement in the stock price
https://www.otcmarkets.com/stock/IPSI/news/Innovative-Payment-Solutions-Announces-IPSIPay-Express-a-New-Business-Line-to-Broaden-IPSIs-Digital-Payments-Services-In?id=398671
CARMEL BY THE SEA, Calif., May 01, 2023 (GLOBE NEWSWIRE) -- Innovative Payment Solutions, Inc. (OTCQB: IPSI) (“IPSI” or the “Company”), a fintech provider of robust and proprietary digital payment platforms that enable transfers of money by means of convenient, cost effective fast and secure systems, today announced that it has entered into a new line of business called IPSIPay ExpressTM, a three-way joint venture with payment industry veterans OpenPath and eFinityPay to develop and market a proprietary consumer to merchant real time payment platform initially focused on the fast growing online gaming and entertainment sectors.
IPSIPay Express will provide merchants with a technology for payment processing that allows for seamless, secure, and instantaneous transactions, in real time bank-to-bank account transfers (from customer bank account to merchant bank account) at costs lower than those currently available from credit or debit card processors. The proprietary technology incorporated into IPSIPay Express will also seek to end losses due to “friendly fraud” and substantially reduce consumer chargebacks, all of which are expected to provide significant value to merchants and operators in the online gaming and entertainment sectors.
Importantly, IPSI believes that the IPSIPay Express business should be ready for launch and could begin to generate revenue for IPSI during 2023. IPSI expects to use any revenue from IPSIPay Express to fund the continuing commercialization and development efforts for its flagship IPSIPay mobile app and for working capital.
OpenPath, headquartered in Irvine, California provides payment solutions to companies processing large volumes of online payments. Scott C. Dorey, OpenPath’s CEO, stated: “We are very pleased to partner with IPSI and eFinityPay in this promising new venture. We believe the innovative payment technology that will be at the core of IPSIPay Express will be a game changer for merchants operating in so-called “high-risk” industries like online gaming and entertainment. The IPSIPay Express account-to-account solution is in high demand by those merchants as it dramatically reduces chargebacks, processing costs and funding time for merchants. We look forward to launching IPSIPay Express to merchants on the OpenPath platform.”
eFinityPay, founded by CEO Franklin Levy and based in Los Angeles, California, specializes in delivering stable merchant processing solutions to ecommerce merchants in the online casino, sportsbook, entertainment, and video gaming businesses.
As part of the joint venture, OpenPath will market IPSIPay Express to its existing and future merchant customers; eFinityPay will be responsible for developing and incorporating the online payment technology into IPSIPay Express as well as marketing to its substantial network or merchants in the targeted fields; and IPSI will be responsible for providing banking contacts to IPSIPay Express as well as potential access to new capital to support the IPSIPay Express business. IPSI is eligible to receive up to one-third interest in IPSIPay Express by contributing up to $1.5 million of capital to the joint venture by the end of this year.
William Corbett, IPSI’s Chairman and CEO commented, “We are excited by the new opportunities IPSIPay Express will provide for us. We believe this joint venture has the potential to diversify our revenue channels and provide payment solutions to an online gaming and entertainment segment that is growing and generating tens of billions of dollars in revenue annually. The IPSIPay Express alternative payment platform, combined with OpenPath and eFinityPay’s considerable experience and relationships with the biggest merchants in the gaming and entertainment industries, should help drive growth at IPSIPay Express. In addition, IPSIPay Express will provide a simple, secure, and easy to use payment experience. We anticipate this will enable the Joint Venture to gain wide acceptance by online merchants and their customers. This new venture with experienced partners, will expedite our path to revenue, and allow us to drive the continuing launch and development of our flagship IPSIPay app.”
Additional details about the joint venture will be provided in a Current Report on Form 8-K to be filed by IPSI with the U.S. Securities and Exchange Commission.
that I was not aware of. I cant imagine the company not being left with anything in such a situation, why would they even bother with doing audited financials, we'll just have to see
Picked up another 200K at half a penny. This will end up being a steal at these prices if we're able to execute a deal.
sold most of what I had in the 5s, buying back just under 4 which is a good price. The problem is that you have to take profits when the opportunity presents itself, many of these pennies are really having a hard time holding gains.
Correct they have those claims as well as the main mines. They have a lot on the table. Don’t underestimate them
100% trust them. The gold is not over with either. It’s California.
There’s no scamming.
Call them
100% trust them. The gold is not over with either. It’s California.
There’s no scamming.
Call them
meant to reply earlier. I dont currently have a position but was more doing the analysis on the OTC related stuff, but that's interesting, right, the shell risk stuff played a role in making it go to expert market so quickly I guess.
The other thing I cant figure out is what you mention about eligible for unsolicited quotes. Another of my pennies DHCC also has that distinction even though they have been caught up and fully SEC reporting for over a year now, and I dont quite understand why (they were never a shell either). Try getting answers to this stuff from OTC and its a stone wall, as well as both my brokers Schwab and Fidelity absolute stone walls, they simply take their queue from OTC and refuse to question them even as hard as I pushed them. Pisses me off actually and nothing I can do.
Anyway I do feel there's potential here and would like to take a position but that requires a better cash position on my side, but I will be watching closely.
they are still early in the process, give it time news should be forthcoming.
also worth pointing out all the shares are still locked up almost a year after they had the rights to unlock them, nobody is selling anything. Transfer Agent Verified.
terrible isnt it. I am at a loss of words on this one, it has to be worth more than where it is today, it just has to. But here we are. If it werent for the people on this board, i dont know where it would be.
very well aware. she is not doing the work, it will be farmed out to the proper team.
I am very very well aware of the filings.
Lets revisit in 6 months, there is no need to keep going back and forth, when it happens it will be clear. What is clear is they are very active in the business.
Yes audited financials. That is exactly what I said.
I picked up a million at .001 to continue to lower my lifetime avg to .0032. Can we even get back to there, I would think we can.
evidently they are working on getting real audited financials which will take a while to accomplish. I can tell you this much the stock will be worth a hellava lot more than a couple cents when it comes back on line, the debt cleared, etc.
in the meantime they are alive and well, fully licensed in CA, and focusing on the clone business which has been more lucrative for them than just selling weed.
Lots of updated pics:
https://www.instagram.com/vbfbrands/
www.clonesandteens.com
if that is not clear as to what at least one party of the government sees as important, then I dont know what would be. Wow.
Now this is coming from the PAN National Action Party which is NOT the ruling party, versus AMLOs party which is the ruling party
there is no relationship whatsoever between the new party taking over the company vs. the old party, period end of question. None.
Now about Alex and Andrew being relatives, I dont know that maybe you could point out some evidence, but would there be anything wrong with that in my mind if they were.
and yes they are pink current and should remain as such indefinitely.
I am looking forward to more information on their venture into the solar concentrators that were announced late last year.
this is not getting kicked down to the Expert Market, not even close, and this company has absolutely nothing to do with this fellow Wade that you mention, thats the past, theres no relationship between the new control and the old. Stop making stuff up.
No, are yu serious? I am very serious and have been for maybe 5 years here.
He has been going to Mexico for the past few months. That is a fact. If yu cannot accept that then I cannot help yu and I am not sure anyone else can either. It’s very simple What he does exactly I don’t know but I have some rough ideas. Why don’t yu call and ask him. He picks up the phone from time to time yu know
I believe that we are close to the end, or the beginning depending on how you look at it. That doesnt mean that things cant go south and we start all over again in some future date. Anything, I repeat, anything is possible. Often I would follow that statement with "but not all things are probable" implying a lean towards one outcome versus another. But in this case, it's Mexico and there really is no way to know based on their history. But I am hopeful.
Lets get the stock trading, that'd be a great start. Keep an eye out for a filing, I havent seen anything cross the wire yet. But my understanding is most of the work is already done.
Probably not till next week due to AMLOs COVID, but all things are possible depending on urgency or other factors I suppose. Patience.
Filings are coming, soon. I realize that nobody believes this including myself, but it is what it is.
When we start trading, those that want to get out will have the opportunity, and those that want more shares will also have the opportunity.
Which dont you believe, that we would ever file, or that we would ever have a deal with Mexico, or neither? I'll guess the latter for many.
Some things take time, some things take a long time, some things take seemingly forever.
Riddle me this and riddle me that
I dont know enough about the detail, but I do like the price down here at 36 cents for a trade
DIAMONDHEAD CASINO CORPORATION OF A-MER-EEE-CU
the boyz from Diamondhead !!!
Wow so so strange that I cannot for the life of me find the "example" that I pointed out at the bottom of my post, I copied that, verbatim, from the otc site and I literally cannot find it anywhere now. Go figure.
BUT this chart that they have is actually one of the more reasonable pieces of info they have and it also supports this 180 days past the last good reporting period, plus grace period (see gray vertical bar separating Pink Ltd and Expert columns,) which again says we should be in the Expert Market right now.
https://www.otcmarkets.com/files/15c2-11%20Tier%20Chart.pdf
Which says:
"If reporting under Section 13 or 15(d), the company has
filings publicly available within 180 days from applicable
reporting period end"
That is only for Pink companies using the Alternative Reporting Standard and NOT the SEC Standard. The SEC Standard is different. Also here is a good chart that captures this:
https://www.otcmarkets.com/files/15c2-11%20Tier%20Chart.pdf
Which says:
"If reporting under Section 13 or 15(d), the company has
filings publicly available within 180 days from applicable
reporting period end"
Then theres the "grace period" (vertical gray bar in the chart separating Pink Ltd from Expert Market.)
Hence why I am saying we should already be in Expert Market according to this chart. I tried researching with Schwab and they refused, I mean refused, to help me after they tried an initial contact to OTC who said they dont talk about specific issuers (these people are just, dont let me say it). I am currently having Fidelity research but I doubt that will go anyway but I am trying nonetheless.
ok I think I was wrong on when we go to expert market, and I apologize profusely since I cant stand making mistakes that affect others.
Re-reading my post, the Start date of the 180 days would be the last date of the last quarter for which they are up to date, which in this case would be 9/30/2022. So that would bring us ~3/30/2023 + 14 days would bring us to April 11 which obviously has passed, but we are still Pink Limited and trading, so I am either wrong in re-interpreting it, OTC Markets doesnt have the correct info, or doesnt have the latest info, or there is extra grace being built in.
Bottom line, I dont know what the hell is going on, and I wouldnt count on our being able to trade for much longer, but honestly I just dont know, I am not smart enough to figure this out.
whats a bit odd with the timing also, say they do an NT 10-K which they did, that actually got them to April 15th past the 4/11 date that I mentioned, and is there a 14 day grace period beyond that, if so that gets us to April 29th.
I give up. LOL
Actually I am not sure about anything now ...
I misread what was written and while I believe you have as well, we should actually be past the date as of now.
Its 180 days past the end of the quarter of the last up to date filing, it doesnt matter when they actually filed for that quarter but rather when that quarter ends. So, that would be 9/30/2022, which if you add 180 days plus 14 days grace, lands us at 4/11 which has past, but we are still pink limited.
If your approach is right, then you are missing the 14 day grace period which would get you into June, but, looking at the example that they have posted, it should be marked according to the last day of the last up to date quarter.
Look at the example that they give again (below)
Well then this is more concerning than I originally thought, but I am not worried, I am very confident they'll file, they're not that stupid besides being the worst communicators. My concern as I have stated multiple times, we need to get cash flow positive, they have had YEARS to figure this out, Southern California, New York, whatever, figure it out, enough time experimenting, increase your prices, do whatever you need to do.
https://www.otcmarkets.com/learn/15c2-11-resource-center
"In order to remain designated as “Current Information” on our markets, companies with Exchange Act reporting requirements must make timely filings of all reports required to be filed with the SEC.
Rule 15c2-11 permits additional time (180 days) for Exchange Act reporting companies to continue to be eligible for public broker-dealer quotes. Accordingly, companies that make their annual or quarterly reports publicly available (via EDGAR) within 180 days of the end of the applicable quarterly or annual reporting period will still be eligible for broker-dealer proprietary quotes, but will be designated as “Limited Information”.
For example, if a company with a fiscal year end of December 31st files its second quarter 2021 report in a timely manner (by August 16, 2021), it would remain in the “Current Information” Tier until the third quarter report is due (November 15, 2021). If the third quarter report is not filed, the security would still be eligible for broker-dealer quotes, but would be moved to the “Limited Information” tier and would continue to be eligible for public broker-dealer quotes until December 27, 2021 (180 days after the end of the issuer’s second quarter). Thereafter, assuming the issuer did not rectify its disclosure deficiencies, the security would enter the 14-day grace period and move to the Expert Market for unsolicited quoting only."
Not sure where you got that date, but my research says otherwise as I posted on another board for stock in similar scenario:
Mid July - (180 days past end of the last quarter ending Dec 2022 plus 14 day grace period).
https://www.otcmarkets.com/learn/15c2-11-resource-center
"In order to remain designated as “Current Information” on our markets, companies with Exchange Act reporting requirements must make timely filings of all reports required to be filed with the SEC.
Rule 15c2-11 permits additional time (180 days) for Exchange Act reporting companies to continue to be eligible for public broker-dealer quotes. Accordingly, companies that make their annual or quarterly reports publicly available (via EDGAR) within 180 days of the end of the applicable quarterly or annual reporting period will still be eligible for broker-dealer proprietary quotes, but will be designated as “Limited Information”.
For example, if a company with a fiscal year end of December 31st files its second quarter 2021 report in a timely manner (by August 16, 2021), it would remain in the “Current Information” Tier until the third quarter report is due (November 15, 2021). If the third quarter report is not filed, the security would still be eligible for broker-dealer quotes, but would be moved to the “Limited Information” tier and would continue to be eligible for public broker-dealer quotes until December 27, 2021 (180 days after the end of the issuer’s second quarter). Thereafter, assuming the issuer did not rectify its disclosure deficiencies, the security would enter the 14-day grace period and move to the Expert Market for unsolicited quoting only."
oh my gosh reading that listing sounds like PACV. They appear to be profitable at 1 mill, wow, in the new york area, I would love to understand how they are profitable and we are the opposite. So they want 5 million for the business, interesting, very very interesting. Maybe we are not worth as much as I thought ... again they are profitable we are not (even close). We have higher revenues also
DIAMONDHEAD CASINO CORP OF A-MEREE-CU
that is very interesting and if thats true its annoying b/c the rules are not spelled out, that is, this idea of probationary period b/c of past sins, I dont have a problem with that IF ITS DOCUMENTED somewhere, otherwise its a disservice to investors who rely on the rules and who could get stuck with stock without a way to sell unexpectedly.
I understand that they are third party, but there are plenty of pennies that are SEC reporting that dont have an account with OTCM b/c they do not need one. They mind their own business and file on time and dont need OTCM but they still have the "right" to be listed as Pink Current. That said, I have just asked the question via their contact form for quadruple clarification.
I have to say I am surprised that they have ended up not filing yet. I am not concerned in the least but I look forward to their filing. I am guessing that none of their notes have clauses with penalties for filing late otherwise they would have found a way to file on time within the extension period
they dont acknowledge anything and they are prideful as could be. Its a waste of time even communicating with them. Oh they will get back to you, but they wont say anything of substance.
"Hopefully OTCM acknowledges this as a mistake. "
just following my post back to previous posts being replied to thats where I got the link, also should be on their website
I understand all of that, but I am saying other companies in the same exact boat didnt go to Expert Market (PCTL, PACV - see those SEC reporting companies that are Pink Ltd SEC Reporting companies that have yet to file). The rule gives them till July, 180 days past end of the last reporting period that is now late (end Dec 2022), plus additional 14 day grace past that
As far as paying OTC Markets fees, they are already paying fees to the SEC, why should they have to pay fees for another governing body to take money they dont have
https://www.otcmarkets.com/learn/15c2-11-resource-center
Rule 15c2-11 permits additional time (180 days) for Exchange Act reporting companies to continue to be eligible for public broker-dealer quotes. Accordingly, companies that make their annual or quarterly reports publicly available (via EDGAR) within 180 days of the end of the applicable quarterly or annual reporting period will still be eligible for broker-dealer proprietary quotes, but will be designated as “Limited Information”.
For example, if a company with a fiscal year end of December 31st files its second quarter 2021 report in a timely manner (by August 16, 2021), it would remain in the “Current Information” Tier until the third quarter report is due (November 15, 2021). If the third quarter report is not filed, the security would still be eligible for broker-dealer quotes, but would be moved to the “Limited Information” tier and would continue to be eligible for public broker-dealer quotes until December 27, 2021 (180 days after the end of the issuer’s second quarter). Thereafter, assuming the issuer did not rectify its disclosure deficiencies, the security would enter the 14-day grace period and move to the Expert Market for unsolicited quoting only."