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Do you see any sort of promotion going on? I can’t find anything yet OTC put the stock promo flag back up. I wish they could at least get a promotion done right if they are going to do one lmao.
-KZ
Float is 7mil as of May. In the OTCQB filing
And its gone... clear for takeoff!
CDEL with massive wall up at .19
It said in that Wavetech PR that the acquisition brought institutional shareholders of GE. How many times can GE get played with this ticker lol.
-kz
Well drug that might actually make the stock price move and management clearly doesn’t want that to happen.
kz
This has been about the weakest pump I’ve ever seen. I’d fire this team of pumpers real quick if I was Sands or better yet if Ponder and Keith were smart get rid of Sands. Seriously though if you’re going to pump a stock atleast get it to move!!
KZ
One thing is clear in all of this and its that they are going to do anything to get listed on the NASDAQ. Something interesting I read in the merger 8/k that I could use some help translating.
(d) Adjustments to Estimated Purchase Price .
(i) If the sum of the adjustments set forth in Section ?2.3(c) results in an enterprise value of Buyer less than the Target Buyer Enterprise Value, then Buyer shall, within seven (7) days after actual or deemed receipt of the Conclusive Statement, cause a number of SGSI Series B Shares to be converted to SGSI Common Shares in an amount equal to the difference between the Target Buyer Enterprise Value and the enterprise value of Buyer as set forth on the Conclusive Statement; or
(ii) If the sum of the adjustments set forth in Section ?2.3(c) results in an enterprise value of Buyer greater than the Target Buyer Enterprise Value, then shares of SGSI Common Stock issued upon conversion of the SGSI Series B Shares shall be returned to treasury
Option (ii) sounds oddly familiar to what Keith and Roger did when they took over MVTG. Exchanged couple 100mil shares for series B and 51% voting rights. I think there is an incentive to get this well above .25 cents which would avoid the massive share dump. The R/S and AS raise would make more sense as well to protect against option (i) which result in those series B shares converting into common.
Thoughts?
-KZ
Should we let them know its trading on the OTC and they can purchase shares before it lists on NASDAQ??
-KZ
Appreciate the extra lengths you have gone to for DD. It seems like Wavetech has been doing some promo’s in Europe that we aren’t seeing here so hopefully they can shed some light.
-KZ
Zippy did you ever manage to get ahold of IR or management? Funny enough when I talked to IR they told me the first R/S was to provide liquidity for those who were stuck in UK and Canada. Did the R/S indeed allow you to sell? I am calling BS on the what they told me seeing as they sold it as part of path to uplist on NASDAQ.
-KZ
I think we are seeing a resurgence of the rampant reverse merger fraud that occurred in the late 90’s early 2000s. The political environment is perfect for it.
-KZ
We didn’t acquire them, they are acquiring us for .25c a share. The private company that claims to have raised 110mil in funding is buying the SGSI public shell so they can go public on the NASDAQ.
-KZ
Anyone know who or where this guy came from? Says he has been CTO of WaveTech since Dec 2017.
https://www.linkedin.com/in/matthew-fitzgerald-9b7133ab?trk=org-employees_mini-profile_title
-KZ
I was told considering up to 10x valuation after listing to NASDAQ, that Wavetechs $110mil in value came from the money they have raised over the years and that there is some sort of deal with Vodafone as well as some deployments in Pennsylvania. I was also told their are institutional investors interested but they can not invest in OTC which is where the R/S to list on Nasdaq is coming from. They also said to expect more disclosure in the coming days before its finalized. I do enterprise software sales for a living so I’m used to having to ask hard questions and put pressure on people to get answers. If these things they told me do not come to fruition then I will conclude it is a scam. Then again I am in a different boat then some here in that my average price is around .20cents and I have plenty enough to get through the R/S so I can afford to wait things out.
-KZ
Did you make an effort to call them and ask questions? Or are we just making assumptions based off internet searches? Is there something about his history that makes you uneasy? I see no reason to have an issue with the CEO of an advisory firm taking a role on the board. If anything it shows their confidence in the company.
Have you talked to ThinkEquity?
I’m not happy about the R/S but I also have a very low average share price and plenty of shares to where it won’t wipe me out.
Intercloud failed because their cloud business was shit and ate into the other side of the business’s margins.
You are jumping to conclusion about this being a scam. The chart dropped a bullish harami yesterday and had a nice rebound off morning panic today. This will make a run next week leading into the finalized merger. We should see more news and disclosure coming as well. There is not going to be a billion plus shares. Maybe 440mil... you know $110mil/.25 (agree upon purchase price). There is no way they were going to run this from .25 cents to $4 without an R/S. Maybe if they had cannabis as part of their offering.... Even then I am told valuations after listing on Nasdaq will be as high as 10x. Somebody is interested in the offering the WaveTech/SGSI merger is bringing to the table. Have you called ThinkEquity or BV Advisory to see what they think of the merger??
-KZ
Did you sell your shares yet?
Thanks DM. It pretty much says WaveTech intends to extend the battery life of electric vehicles. Did any of the patents you and Mike found indicate they have tech that can do this?
-KZ
Anyone here speak German?
http://www.bvadvisorypartners.com/wavetech-media.html
-KZ
First piece of advice is not to ask a free public message board for financial advice. That being said here is a basic breakdown of why some are pissed off here.
Management claims the combined enterprise value after the merger is $130million.
Here is the equation for enterprise value (EV).
EV=Market Capitalization + Short and long term debt - cash and cash equivalents.
If you do the calculation there is $110million in value missing that is supposed to come from WaveTech yet there is no evidence and nothing has been disclosed that shows WaveTech has any value whatsoever.
That is the initial issue. The second issue is the proxy they put out yesterday authorizing an A/S increase and giving them the option to do another R/S. At this time we have been given no reason or explanation for the filing other than the investment bank advises they have it available.
-KZ
It’s not asset value. Here is the official explanation of Enterprise Value or EV.
https://www.investopedia.com/terms/e/enterprisevalue.asp
-KZ
They are solving the issue highlighted below from Mike’s batteryuniversity article.
https://batteryuniversity.com/learn/article/sulfation_and_how_to_prevent_it
“Several companies offer anti-sulfation devices that apply pulses to the battery terminals to prevent and reverse sulfation. Such technologies will lower the sulfation on a healthy battery, but they cannot effectively reverse the condition once present. It’s a “one size fits all” approach and the method is unscientific.
Applying random pulses or blindly inducing an overcharge can harm the battery by promoting grid corrosion. There are no simple methods to measure sulfation, nor are commercial chargers available that apply a calculated overcharge to dissolve the crystals. As with medicine, the most effective remedy is to apply a corrective service for the time needed and not longer.”
By integrating the beat into the battery and making it software defined they are able to create a virtualize energy storage and backup infrastructure. It’s also clear they plan to bundle this as part of a service offering for telco which means big $$$ contracts.
http://www.wavetechglobal.com/services.html
Please provide feedback to my opinion.
Thanks,
KZ
Ditto
It’s my personal opinion that Munro is the bad player in this whole thing. There were two derivative lawsuits naming Munro in 2017 right before ICLD sold its assets to SGSI.
Also, ICLD has no revenue producing assets. SGSI bought them all at a discount. The only revenue producing assets they ever had are now owned by SGSI. We also took all of their customers in those acquisitions.
Compare the three sources of capital SGSI has used. Munro is the only source of toxic financing. I honestly wouldn’t be surprised if Ponder was able to acquire ICLDs assets at such a discount only if Munro was able to get equity out of it.
https://www.munrocapitalinc.com/index.html
https://www.supergcapital.com
https://www.prestigecapital.com
So while initially management had briefly showed us their ability to eliminate toxic debt from the balance sheets they need to be clear has to how they plan to get rid of the rest or at least minimize the total potentially dilutable shares.
While I don’t like the history with Sands and the fact that all of their subsidiaries were purchased from ICLD, SGSI has rallied after each acquisition announcement so lets hope it repeats at least that much. Management needs to address the fact that they look like ICLD 2.0.
A wire service titled “News” because it provides “News”. I can type it up, print it on black and white paper, and through it at your door in the morning if you like. The way its delivered doesn’t dictate whether its news or not.
The news feed on TD thinks otherwise. They could double the OS if they wanted to and it would still be considerably undervalued.
Interview with President of SGSI
A new redchip interview with Keith is up.
Retail is going to have to slap the ask to get any shares. Nothing being sold under .20.
The volume here is pathetic. All this talk of convertible debt and dilution keeping people away but we’re only trading on avg .6 % of outstanding shares and its near impossible to get a bid filled.
I second this request. We need to keep this board current. I dont care if the posts are removed and an updated with current debt structure. Just get it current.
-kz
One sticky is about Mantra Energy which doesnt exist anymore and the other is about convertible debt from when this was Mantra Energy that also does not exist anymore. All of the history is in the filings if someone wants to see it.
-kz
Spot on post UK. The only reason I could see them being in a hurry to uplist is easier access to and better structured financing. If i'm holding restricted shares I'd feel alot better when they are in a NASDAQ listed company trading above $4. I also don't think the customers they work with really like be associated with an OTC pink company. Maybe getting listed on the NASDAQ might open the door for SGSI to start naming customers in their pr's of contracts. Its not uncommon for OTC stocks working with large companies to be under NDA. As far as dilution from the next acquisitions I am using their past acquisition costs/structure to get an idea of how many shares might be issued. Here's what I am lookin at.
ADEX was a $20mil revenue company and they used $2mil in convertible debt to finance half of the purchase. The next company they are targeting is in the $15-20mil range so if they use $2mil in convertible debt at .50c per share its only 4mil shares. Ofcourse ADEX were bought from a stuggling company so the terms of their next acquisition may be different. Curious to here your thoughts on this.
Thanks,
kz
What have they issued shares for in the past and what do you think they will issue shares for in the near future? My DD tells me they issued shares to purchase revenue producing entities. My DD also tells me they will need a very small amount of shares issued to partially fund there next two acquisitions that will take them to $80mil in revenue. The faucet you speak of is broken producing nothing more than a small drip.
-kz
Opinions are formed from facts and opinions are only as good as the facts they are formed from. Ihub does have a responsibility to maintain the integrity of their platform just like Facebook, Twitter and all social media platforms.
-kz
Fair enough. Some constructive criticism for you- The way your posts are structured come across as trying to incite fear and create panicked selling. The OTC markets and the associated risk involved in investing in OTC securities creates enough fear already.
I never tell people to buy or sell nor do promote stocks as something they are not. The stark difference between SGSI and a lot of other OTC stocks is the plan put together by management and the accuracy at which they have consistently executed on that plan. The R/S was no surprise nor was their reason for doing so. Its frustrating to watch people come to these boards for a quick window into where the company is at only to see posts from you screaming its a scam and to dump shares before losing it all.
-kz
I agree but I think it is important short term to keep personal from acquired companies to help in a smooth transition, so in other words I expected high SG&A in the first year of these acquisitions. Long term they need to consolidate personal and eliminate silos. I believe this is the direction Ponder is heading.