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Come on, guys and gals, it's "sleight" - at the risk of being a grammar-nazi.
As far as I can tell, that = $1,550,000,000 registered capital. Now, is that different from market capital?
But maybe Henry is trying to lock the major shareholders in for some reason. If, f. ex., he has control of a certain number of shares, he could be using the BB to make that number a controlling percentage without buying any more. This might explain his extending the BB to late December even after it's mostly complete. Or is that in the realm of fantasy-science fiction?
Yes, but can anyone explain what that is in layman's terms? A diamond exchange token based on crypt-currency technology? Is that right? And what ramifications does that have for PHIL?
That solidarity tax has been going longer than the Berlin Wall itself! From what I've seen, the east has been re-built better than the West - at least in Berlin. That money could be better used to invest.
Thanks very much! (Free account, so I couldn't PM my thanks.)
I've learned a lot of trader jargon but never seen "stink bid" before! What does that mean?
Thanks for the detailed answer. But it still looks like a matter of concern - not major concern, but concern enough to ask Henry about it on a CC, if we get the chance.
That sounds like the key text. In another play I'm in of the biggest bankruptcy in history, the company rolled all the outstanding commons into one big share to prevent any change in ownership from occurring and thereby endangering the NOLs - basically the only asset the company has left.
Thank you! I suspected it was something like that but didn't know the exact explanation. At least we will have informed the board's readers and put the issue to bed.
This thing with the NOL carry-forwards only works as long as the company retains 51% ownership INCLUDING its stock, which would mean that this percentage of its stock would have to cease trading. Retiring shares doesn't count, since the ownership only applies to the existing O/S. I'd say we should either ask the CEO about this or ask someone who knows more about it than I.
Actually, that would be "Kommen Sie her, Fräulein, ein Bier bitte!" You say something like "Come 'n' see hair, froy-line, ine beer bitt-eh". But nobody in Germany says Fräulein these days. That was in those old Elvis Presley-in-the-service movies from the 1950s.
To make this on-topic again: if PHIL is listing in Frankfurt, I can turn some German investors onto it. Any idea when?
And it plummetted right down to 0.0013 today! Might be a good idea to keep some powder where it's safe and dry.
The main question I would ask - rather than stuff we already have a good idea about - is what principal risk factors Henry sees in the immediate future for PHI Group. That would help us be on the lookout and maybe even help out or make suggestions to mitigate them.
What's your other fave? Or are you allowed to say? I'm holding just under 15 mil of Phil and not letting go.
My Js are on TDA. Not showing any prices of any kind. And the escrow number's still there.
NYCB, you mentioned GNCP. I took nearly all my powder OUT of GNCP and put it into PHIL. Since then, GNCP has gone from 0.0019 down to 0.0006, while PHIL has gone from 0.0029 to copper. Best decision ever! If I'd known that a certain South African billionaire was associated with GNCP years ago when I first got into it, I wouldn't have touched it with a 10-ft. brokerage pole!
The introductory primer for decades has been "technical Analysis of Stock Trends" Robert D. Edwards and John Magee, published (last time I looked) by St. Lucie Press.
But what happens if LBHI redeems all the CTs before you retire? Do they just get exchanged for cash that stays in your Roth account for use later?
What was that 100 grand before market about? I thought OTC couldn't be traded outside of market hours.
For what it's worth, "member" is used to mean "employee" in Japanese and very likely in Chinese, as well.
To get my CB handle back then, I just let a dictionary fall open at a random page, closed my eyes and put my finger on it. It landed on "uncoooked". So, I'd sign on with "This is uncooked". That handle drew A LOT of attention! Especially from girls.
Has Henry expressly stated that he would retire the shares bought back? Or is it possible he would convert them into treasury shares, which would reduce the float but not the O/S for the sake of preserving his NOL tax advantages?
Someone posted - sorry, I can't find it, but it was early this week - that PHIL had enough NOLs to eliminate or significantly reduce its corporate taxes through 2024. That's a lot money for the company, but only if it can ensure that 51 % of the ownership will not be transferred, i.e. shares changing hands, until all the NOLs have been covered. Either Henry has locked down a percentage of ownership in some form other than retail shares, or he has to corner 51 % of the shares and not let them trade - and not retire them from the OS, either. Does anyone know how and if he's done this? It could be quite a positive step.
What was the result? How is PHIL preserving the NOLs? Could you bring me up to speed?
Much obliged.
Why isn't anyone discussing the effect of past net operating losses (NOLs) on the OS? Has it already been taken care of before I joined the board? Does Henry have 51% of the ownership locked in elsewhere, or do we have to worry about it affecting the OS? To preserve the NOLs and carry them forward, he has to lock in 51% of ownership in the company, and we're talking about a LOT of money at stake!
This could be a question for the next CC.
This could actually be a critical point: "The availability of the Company’s net operating loss carry-forward is subject to limitation if there is a 50% or more positive change in the ownership of the Company’s stock." It essentially means that, if the entire OS continues to trade, PHI Group will lose all its NOL carry-forwards. That's a shipload of money. And Henry must be well aware of it. This by itself would virtually force him to lock in half the OS, whether through buybacks or whatever. The problem I see, and correct me, o financial pundits, if I'm wrong, is that, if he retires those shares, he'll still be forced to lock in half of the remaining OS to stop them trading. Lehman Bros. got around this by turning all the shares it took back into one big share but not retiring them. That share cannot be traded, but it still exists and represents half the OS.
"Pre-market activity is headed north."
Rick, do you live in Australia, by any chance?
Luc, I hate to break this to you, if you're a bona fide neo-nazi, but Lehman is spelled with one n! Now, what does that tell you?
I see. Thanks for clearing that up! That makes a nasty business even nastier.
No, correct me if I'm wrong, but if he had farmed out any shares to anyone, toxic or otherwise, it would show as part of the OS, which is 21,543,181,669. Well over 20,000,000,000 are unrestricted, while about half a B are restricted, meaning they COULD be in the hands of a noteholder. The AS simply tells us how many shares he's allowed to print in total - not how many he's already printed. Am I right?
Viva, I saw you checked in briefly on the PHI Group board. That thing looks too good to be true. I've been flipping it. What's your take on it?
Lucy! Wha' hoppen'd?!?
Here's a little note from ABC News that spells out the new NS rules, including the exact minute they take effect:
https://abcnews.go.com/Business/story?id=5826833&page=1&fbclid=IwAR376fyiQgnmN0OMdaVRkALO0FqTmuiSEqgiPiiWDOm6bZ_cCkMLJ307Wc0
It always helps to have a good, hard Dong in play.
I've still got 42,500 shares. Worthless. What can we do with them? Anything?
But I for one am going to resist the urge to flip. The filings could hit at any moment, and then it could fly away from us.
OK, now it's getting back to normal. I see this all the time on other stocks, but it's always so far out of bounds that you know it's meaningless. Here, I wasn't so sure.
So, why have the bid and ask suddenly dropped to 0.0018 and 0.0020??? This doesn't look good. :(
Thanks for that info. I was able to use it to confirm that all my FFGO shares are indeed gone from my TDAmeritrade account.