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I'm curious as to where the 60 days comes from. Anyone care to enlighten? I looked over the filings and can only find the below referencing exercising. Maybe I'm missing something and Recapitalization has occurred. I'm no expert.
This is from the filing including the typo in Item 5.
The Note is in the original principal amount of $1,250,000.00, and bears interest at the rate of 8% per annum, payable on the six (6) month anniversary thereof and at maturity (November 8, 2019). The principal balance of the Note is convertible into Common Stock at a variable rate which is ten percent (10%) less than the lowest daily price of Common Stock for the 30 days immediately preceding conversion. The Note is convertible at any time after the “Recapitalization”, as defined in Item 5 herein, but is subject to being exercised in minimum amounts of 25% of its then-current principal balance. The conversion of the Note may be subject to a cap of 9.9% of the Issuer’s total outstanding Common Stock, which cap is invocable by the holder in its discretion. Similarly, conversion may not be effectuated if Holder has, in the preceding 30 days, sold more than ten percent (10%) of the total 30 day trading volume of the Common Stock. The shares issuable upon conversion of the Note are subject to anti-dilution protection. As of the date of issuance, and assuming the “Recapitalization”, as defined in Item 5 herein, takes place, the Note would have been convertible into 925,925,925 shares of Common Stock at issuance.
The Warrant is exercisable to purchase an aggregate of up to 925,925,925 shares of Common Stock for a period of three (3) years. The exercisability of the Warrant and its exercise price is tied in to conversion of the Note; i.e, to the extent the Note is converted, in whole or in part, an equal number of shares of Common Stock become purchasable under the Warrant and at the same exercise price as the conversion price of the Note. The Warrant is subject to cashless exercise if the Issuer is in default of certain of its obligations under the RRA. The RRA provides for the Issuer to file, obtain effectiveness for and maintain effective one (1) or more registration statements.
Item 5. Interest in Common Stock of the Issuer
(a) and (b). At present, the Issuer’s authorized common stock consists of 1,500,000,000 shares of common stock, par value of $.001 per share, and certain preferred shares. The Issuer has filed a Definitive Information Circular with the Commission, dated January 31, 2019, indicating that it has received shareholder assent to amend its certificate of incorporation to increase the number of authorized shares of Common Stock from 1,500,000,000 to 7,500,000,000 and to change its par value from $.001 to $.000001 per share. Except as otherwise specifically stated herein, all references herein to ARJ’s ownership of Issuer common stock assume the filing of such Amendment, which has not taken place yet (the “Recapitalization”). Absent such amendment, the Note is not convertible, the Warrant is not exercisable, and ARJ’s entire position in Issuer Common Stock is zero and Garnock’s entire position in Issuer Common Stock is 24,146,068 shares of Common Stock of which Garnock owns 24,000,000 of such shares and his wife, Rochelle Rabenou - Garnock, owns 146,068 shares of Issuer Common Stock. The within calculations of percentages of Issuer Common Stock owned are based on the assumption of an aggregate of 2,425,925,925 shares of Common Stock being. That number is the sum of the total current number of shares of Issuer Common Stock outstanding, (1,500,000,000) plus the 925,925,925 shares tahtw ould be owned by ARJ assumnming both conversion in full of the Note and the Recapitalization taking place. Garnock shares voting control over ARJ’s shares with ARJ. He retains sole dispositive and voting power over the 24,000,000 shares of Common Stock owned by him, and his wife retains sole voting and dispositive power over the 146,068 shares of Common Stock owned by her.
Assuming the Recapitalization becomes effective, the Reporting Persons would collectively beneficially own effective as of the date hereof 950,071,993 shares of Common Stock, consisting of 925,925,925 shares underlying the Note, 24,000,000 shares held by Garnock and 146,068 shares held by Rochelle Rabenou-Garnock. Based on 2,425,925,925 shares outstanding (see immediately preceding paragraph), such beneficial ownership would constitute 38.1% of the shares of Common Stock outstanding. The Warrant would not be exercisable since exercise of the Warrant is subject to a cap of 9.9% of the Issuer’s total outstanding Common Stock.
Give the guy a break. Simple question. We all want to learn.
See
happycampers Wednesday, 03/20/19 04:34:02 PM
Re: GermanColombia post# 70394 0
Post # of 70413
my apologies, you are correct. We've got a Great stock here - enjoy the ride !
Let's keep the momentum going. Up, up and away. VRUS!!!
Accounts receivables and current inventory will be purchased by a new entity to be formed in Canada by the buyers ("NewCo"). To add to the speculation. Doesn't smell like liquidation. IMO
So you have already read the judges final orders? Of course not, no one has. Everything is under seal. Pure speculation at this point.
All we know is what is on the Redacted letter. It's moot. What's really going to happen is still under seal. The extension was requested until 10/26 and approved by Comerica and will most likely be approved on 9/18 by the judge. Doubtful we will see what is under seal until the 10/26 hearing at the soonest. Just my take on it.
Wouldn't it now be 10/26/2018 when the court grants the extension? I would imagine we will be in limbo until then since everything would stay sealed until the final hearing. IMO
Yes some countries have more than one letter. For example Switzerland uses HB. This is basically the license plate of the aircraft.
I can answer this. All aircraft have identification numbers assigned to them. N is for the US, Canada is C. Each country has their own letter designation. The owner of the Learjet has blocked their Identification number, so you won't be able to look it up. Hope this helps.
Update - TDA charged $38 for this RS. A little more insult to injury.
I had Scottrade and now TDA.
Picked up PSID @ no bid for a lotto play before they did the RS last week and I didn't get charged. Didn't do good enough DD and missed the fine print in the their filing. Oh well only $100 down to $40. Like they say "If you can't afford to lose it don't play".
OCSY is the fastest RS I've ever seen. They closed the door and locked us in on this one. A lucky few got out.
Haven't seen OTC RS that went up yet and I've seen a few. Only ones that might go up are the ones that do it to up list and even those don't always work.
Seems to be the thing with the new rules regarding dilution.
FYI - You can add OCSYD to your watch list and depending on how you have set up your list you can see the Bid/Ask/Volume etc. I also went from Scottrade to TD.
Confirmed POS scam! P&D's stopped working so they decide to steal from the shareholders. Brilliant!
There's no denying they have RS'd in the past, but every couple months is a bit of a stretch.
Actual split dates:
Symbol Change 04/18/2018 PSIDD Symbol change from PSID to PSIDD
Symbol Change 05/23/2017 PSIDD Symbol change from PSID to PSIDD
Symbol Change 07/05/2016 PSIDD Symbol change from PSID to PSIDD
Symbol Change 04/23/2013 PSIDD Symbol change from PSID to PSIDD
Not a pumper or a basher, just trying to keep it accurate.
Looks like from their last filing that he is paid by restricted shares.
https://backend.otcmarkets.com/otcapi/company/financial-report/189798/content
Don't know if all the Nelson's are related or not. If they are they have a lot of restricted shares. 380,000,000 worth. If not he has at least 30,000,000.
He's gotta earn those 30,000,000 restricted shares and the other Nelson's have 80,000,000. Not sure if they're related.
Filings just uploaded to the OTC
I'm with you. I got out and now waiting on the cheaper shares to get more bang for my buck. I haven't seen an RS go up after the split yet. Too bad the PR was wasted on pre RS. Might have helped after to keep from going down too fast, might have even gone up. That concerns me.
I believe his where it is coming from.
3) The Company will lower the Shares Authorized during the restructuring process in an effort to show the Boards determination to move towards a less toxic structure going forward.
Not too many ways to do that without RS.
All I have to do is look at the worthless Dividend shares he handed out way back to suck people in. Keeps me out. Anybody else still have those?
Bids building, people missed the boat. They want 84 Million of your shares at .0001. Don't let them have em. Make them buy the 2's. Snooze you lose.
I listed what they filed. Anybody wants to read them, they can see them at the OTC website.
http://www.otcmarkets.com/stock/IENG/filings
Hopefully they can get the 2015's done.
By the way I did edit my Post so as to not look too stupid.
Last from me for awhile.
Then please delete
Look's to becoming current. See what happens tomorrow.
Feb 17, 2016 Annual Report- Disclosure Statement for Year Ended December 31, 2014 Dec 31, 2014 Active
Feb 17, 2016 Annual Report- Financial Statements for year ended December 31, 2014 Dec 31, 2015 Active
Feb 17, 2016 Quarterly Report- Issuer Disclosure Report for Quarter Ended March 31, 2015 Mar 31, 2015 Active
Feb 17, 2016 Quarterly Report- Financial Statements for Quarter Ended March 31, 2015 Mar 31, 2015 Active
Feb 17, 2016 Quarterly Report- Issuer Disclosure Report for Quarter Ended June 30, 2105 Jun 30, 2015 Active
Feb 17, 2016 Quarterly Report- Financial Statements for Quarter Ended June 30, 2015 Jun 30, 2015 Active
2014 & 2015 Annuals and 4 2015 Quarterlies 2 of which are Disclosures stating the share structure. 4,000,000,000 Shares of Common Stock authorized, par value $0.001 per share 2,661,261,968 Common
Shares issued and outstanding as of December 29, 2015 51 shares of Series A Preferred stock, par
value $0.01
Look's to be getting current.
If I didn't know any better I might be tempted. However I just look at the (EVSPR) I got way back when I didn't know better and restrain myself from making the same mistake.
I guess it must not have been viable, other than suck more peeps into his scam. I'm not in this. Been out a long time. Took my losses and still have the scam shares to remind me.
Anybody else have the worthless Dividend shares from last year? Remember these? I have them and they remind me of how much of a scam this. Can't do anything with them. Should have known Trina covered himself with the last sentence below.
Chris Trina, Chairman and CEO stated this about this news, “We are pleased that the first dividend distribution of newly issued preferred C class shares went smoothly and without any issuance problems whatsoever. I am also extremely pleased with how well received and appreciated this first dividend was by our shareholders. I want to commend the joint efforts of FINRA, DTC and our transfer agent, Madison stock transfer agency on a job well done in organizing and preparing the preferred class C share distribution to shareholders of record this past August 22nd, 2014. By now every single shareholder that qualified for the first dividend should either have the dividend in their brokerage accounts or in a physical certificate.”
Trina had to this state about the details of the past and current dividends, “Our last issuance totaled 1,573,256 preferred C shares. This issuance announced today should reflect about half of that amount keeping in mind myself and other executives and board members are not participating in these dividend distributions whatsoever.”
Mr. Trina ended his comments by saying this to shareholder’s and the investing community, “I am very excited we have the luxury and ability to offer these dividends as a token of our appreciation to our long-term investors. Our stock has been historically very volatile and my hope is that these dividends help create a more stable marketplace and at the same time reward those investors who simply don’t trade our stock day to day and week to week. Additionally I am excited to announce that due diligence on our proposed A/C acquisition should commence by the end of September which is 6 weeks earlier than previously announced. Lastly I am researching the possibility and potential trading of these newly issued Preferred “C” class shares on the open market place but have not yet determined the viability of this strategy.”
Interesting - News flying around about Ronn Motors and the clock is winding down to 4 days and some change. Could this be it? Now all we need is some volume to confirm. Time to take off NSEH, let's go.
I'm still in. Just don't hang around here as it's too jacked up and not worth reading. Too much wasted energy IMO. I'm sure they'll say because I'm stuck with no Bid, but I had my opportunities to get out if I chose, which I didn't. GLTA on both sides, hope you find what you are looking for. For some it's NSEH, for some it isn't
Look's like they played this like a P&D today. The only thing that's going to make this move substantially is filing and becoming current. Without that this is drifting back down, down, down.
Still time to make 6's.
Way to go people moved those sells up now here come 5's.
BID now bigger than the ASK. Those people selling their 4's will be kicking themselves. Move those Sells up and let her run!
Seriously? You know they're doing a Reverse Split and maintaining 10 Billion shares. Right? This CEO screwed a bunch of people.
If you really want to get Paul's attention. Emails won't do it, he'll just ignore them. What will do it is for everyone to cancel their buys and take this No Bid. That might catch his attention.
Trina must be enjoying this. Looks like fresh blood to give him more money. I guess nobody's doing DD on this? He'll take their money as he did mine and many others. I do have the worthless Dividend shares however. I don't post much and I don't bash.
ASK dropped from 35.7 mil to 7.8 mil.
NSEH