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I own millions of shares here
A few years ago on one of my first plays, someone wrote the CEO an email, got one back, and became absolutely smitten. Thereafter he would regale the IHUB message board with tales about how great this man was, and would regularly report how people would not believe their eyes with "what's coming." By his own admission he would regularly communicate with the CEO and at one point even got to have a phone call with him (details of anything were never shared obviously). With every interaction, he came back more and more convinced that the stock was going to the moon and would be worth dollars per share instead of the low double zeros that it was at the time.
A few months later, the stock price tanked the the low trips, the company went dark, and indisputable evidence of the CEO's less than upstanding character came to light.
Let us hope that Manos is one of the good guys.
Directly copied from the news release:
Digital Utilities Ventures, Inc. is working to become a formidable presence in the green solutions marketplace. We have identified strategic opportunities for acquisitions and joint ventures that will allow us to capitalize on existing and emerging opportunities in this industry. Consumers understand the significance of progressing from conventional assets to inexhaustible sources that produce no ozone harming greenhouse gas emissions from petroleum by-products and lessen air contaminants. Enhancing green solutions such as in energy supply and lessening reliance on imported fuels will assist with economic development by increasing occupations in manufacturing, assembling, and that's just the beginning.
So a change of business now, no more cannabis but a vague proclamation about "green solutions" implying environmentally friendly energy-related business?
https://backend.otcmarkets.com/otcapi/company/dns/news/document/51215/content
Is it at all possible that they will not be qualified by the SEC to sell more shares? Or is it a given that the share sale will be approved?
Yeah...but if someone actually wanted to buy up enough shares to oust Koos by definition that implies that RGBP has value worth chasing...even as an empty shell.
It's not every day you see retail investors becoming majority shareholders in delinquent or dark OTC stocks and getting control of the companies even though it's quite plausible in many cases.
In the scheme of the share structure though, $1.2 million isn't that much. 120 million shares at 1 penny per share covers a full settlement, if that is really all the debt. The debt itself isn't a lot of money, assuming the amount is correct as reported. Considering that the O/S here is 3.8 billion and the A/S is 4.8 billion, increasing the O/S to 3.9 billion is not much at all considering that 2 billion in notes has already been converted out.
Koos is probably trying to settle for shares and Chemdiv doesn't want shares. They are trying to get cash. IMO the real issue at stake may be that Koos will have to get another convertible note to pay off Chemdiv and he wants to avoid that.
These particular SEC rules (Rule 15c2-11) were instituted by Trump appointee Jay Clayton in September of 2020.
https://www.sec.gov/news/public-statement/clayton-otc-2020-09-16
I don't know if an R/S is guaranteed, there have been a lot of really bloated tickers that ran this past year. I guess if you want to R/M like a SPAC it's true that the merging business would probably want a higher pps but on the other hand, the value of a clean shell might be pennies anyway.
Plus the pps doesn't have to be large to insert a business in it. Baru Gold Corp trades at 6 cents per share.
Anyway I agree the most likely explanation for the A/S raise is that he is planning to convert debt. I would expect in that case, that we might see a precipitous price drop.
Right, Shellbridge Group Limited was run by Terrence Filbert. He was managing director of Shellbridge.
Since I believe that Filbert was awarded custodianship of BRNE, my guess is that some of the debt is owed to his own former companies or even himself. So there is a reasonable expectation he will pay it off.
I am not an expert at these matters but I think the only hope here is that the debt is exchanged for shares in some sort of private or public placement, with a fixed price per share of 0.0007 as I was suggesting in an earlier post. That would definitely put a break on any future run, but at least the number of shares added would be constant. Raising the A/S to 14.4 B is basically adding 14B to the current A/S and the math just happens to work out pretty well if 14B shares are offered at 0.0007 - that's your 9.8M.
But they could also just dilute and R/S until all the debt is gone, in that case there's no telling how low this will go or how many more shares it will take. And there might not be any good or logical reason for the 14.4B A/S - they could have just picked a number. I don't know.
If there is 9.8M in debt and now 14 billion new shares the math works out to 0.0007 per share to pay it all off without a further A/S raise, unless they are planning to R/S in the middle of the dilution one or more times.
14B shares x 0.0007 pps = 9.8M
No he's right actually...HC*MC did do just that, ran from 0.0001 to 0.006 on a 750 billion A/S and 300 billion O/S. It's laughable for a pink (their market cap is 370 million) but that doesn't mean you can't make money off of it.
I'm definitely keeping an eye on this one...at some point the dilution will end and there will be a big spike. But for now I'm holding out for lower prices.
Another attorney letter yesterday...looks like this will be pink current soon.
But still need a merger or something to get to multi pennies
Also wondering to whom DUTV is indebted to with 10M accumulated deficit.
On the other hand, Joe Passalaqua's convertible notes appear to say "each dollar amount may be converted to...one common share" - very favorable terms - and Passalaqua benefits if DUTV runs hard.
Quite frankly the situation here is not so bad as I once thought. If DUTV were to merge with a legitimate business and go on a big run, a lot of the debt could be wiped out with only a small public share offering. Of course that all depends on whether you trust the directors and CEO.
Finally got a share structure.
20B A/S was in the Wyoming filings, that doesn't surprise me.
O/S is a little higher than I was hoping for, but also not as bloated as it could have been. 8B outstanding shares is a lot but the number of DTC cleared shares is 4.3B, close to my original O/S estimate.
Definitely wondering where all of those additional shares came from since 2015, it does speak to some kind of power struggle with old management
The fact that Manos had to put out an 8K stating that the preferred shares have 51% of the voting rights of all authorized present and future shares makes me think that the share structure is very uncertain. It suggests that there may be more shares out there that not everyone knows about, and there could even be a battle over them. On the other hand, Manos seems to have some idea of the share structure because how else could he know he's the majority shareholder? It's a power grab, which you don't normally need to do unless there is a power struggle in the first place.
Getting an updated share structure posted to OTC Markets and verified should be the next priority outside of getting pink current.
I phoned Schwab today to ask about the new SEC rules and see if they could tell me anything. The broker I spoke to seemed to think that even with the new SEC rules, individuals could still purchase Grey and Expert Market stocks if they weren't Caveat Emptor. I may follow up later as well.
While there is fear about the new SEC rules, I'm not sure it will mean blanket revocations. I could be wrong but I think that Pink No Information stocks may be barred from quotations and/or sent to the Greys or Expert Market. However, as long as they aren't CE I think retail traders will still be able to buy them through some brokers. The important detail here is that CE and the Greys/Expert are not the same thing. As an example of this I tried to buy M*I*K*P through Schwab today and the trade request was received and appeared to be valid as an open order.
Therefore, I am not yet concerned that BRNE will be "revoked" although there could be a sell-off after June 30 if it is not current. It wouldn't surprise me if there is market wide dumping in the OTC after June 30, but that may be an opportunity as well.
Not a lawyer or legal expert so don't rely on this post...just relaying my thoughts.
I am sorry to bombard you with questions. But I can't help but ask one more.
You say some shells are not fixable. Well, before his twitter went private (not a follower), George Sharp said something very similar. But I still don't fully understand...
Why are some shells "not cleanable?" Is it a matter of practicality, such as sky high debt that cannot possibly be repaid within a reasonable time frame? Or maybe legal issues that are so complex it would take years and years to resolve?
Or are there more absolute situations like a complete dead end, a lost chess game? I guess I could imagine a creditor trying to force liquidation and revocation like a chapter 7 bankruptcy.
Don't want to waste your time...but insight would be appreciated.
This is good to know...especially the part about being revoked.
That is where I have a lot of questions.
If all the non-current tickers are placed on an Expert Market in September and are not revoked, my guess is that some penny stock investors will just shift to the Expert Market and make bets there, minus market makers (not sure about this last point?)
However, even if all delinquent or dark companies are ultimately revoked, I'm not convinced that stocks that have a 15-12G will be blanket revoked. I can think of several examples of tickers or shell companies that have been awarded to plaintiffs by court order due to fraud, or have other legitimate reasons to file 15-12Gs. Based on what I understand, these and other non-filers such as AHFD would simply go to an expert or gray market where they could still be bought and sold by retail investors.
Well you could always write me a private message...but if you don't want to no pressure. It can be time consuming to really dig deeper although I suppose I should do it myself at this point anyway.
I agree with your point about the absentee TA and unknown SS. I previously posted here estimating the A/S at 20 billion and O/S at 4-5 billion but it was a fairly crude estimate. The Wyoming portal gives the total common shares as 20 billion so I assume that is the A/S. The O/S I guessed based on the volume underlying the price movement dating back to some initial frontloads. It would be nice to have a verified TA and SS.
The thing with Manos is that unless he has a verified history of dilution/pump n dump/share collapse or unless he is provably, definitively incompetent, who can say he can't revive a pink ticker and get it current?
What's the problem with Manos?
I know very little about him.
Yes. Click on History. There are three updates dated 06/01/2021
https://wyobiz.wyo.gov/Business/FilingDetails.aspx?eFNum=186031170184045204138184166043171089231241157236
True, but every single run has also maxed out after a second peak.
Which this has already had. It was 0.004 in January and hit a penny in February. That was the second peak.
Not saying there can't be a third one, but this has been in the dribble down stage for a while.
How much higher will current filings get the share price anyway? It's going to take more than Pink current to get over a penny. IMO.
LOL okay
Don't fault him for his name. There is always a big dump coming somewhere in the OTC. They run these things up to the moon, take the lard and bacon for themselves and the bagholders get a pig's head with an apple in it!
Anyway, I'm holding here strong!
Hopefully the Q will be off soon and this will be Pink current...
1.5 billion O/S as of May 11, 2021
Is it a given to sell at that point or when Lazar sells the ticker? Do people ever ride their shares with the new business?
Oh I agree he has some plan for this. It all makes sense now why he was posting saying no news and nothing happening. He didn't want legal issues for the ticker. Same with the fake merger document.
Filbert was awarded custodianship of BRNE by court order. My guess is because the previous management defrauded him. Presumably he has every reason to make something out of it, whether by selling or merging it. Plus, based on his actions, Filbert seems like the type who won't just sell the ticker to any old grifter. He will sell/RM into a legitimate business with quality management. At least that's my hope. This could really fly IMO.
I may be mistaken but since Terrence Filbert filed a 15-12g in 2017, BRNE is not obligated to report and is therefore unlikely to be suspended as far as I can tell.
On the other hand, if social media folks start pumping BRNE you never know if the SEC might come knocking. That's why Filbert has posted here saying no news.
Whatever Filbert's plans are, I agree there is a good chance of dimes if BRNE is sold or merged into a legitimate business. Or higher...you never know. But nothing is going to happen (and shouldn't happen) until Filbert makes a move. This play requires patience!
Also could be that Manos doesn't want his real business email to be bothered with questions about the shell.
A domain that is listed for sale may still be privately owned. In fact, that is usually the case if it is being offered for sale by a specific registrar such as HugeDomains. Basically a private individual owns that domain through HugeDomains and is offering it for sale.
If a domain isn't owned by anyone at all, it will just give you a network error when trying to connect. The number of possible domains is near infinite and domain space isn't divided up among a bunch of domain companies. Thus, any domain that is for sale is actively owned, usually by a private individual. If that domain is no longer paid for, the domain company will often cease hosting it, and it will just disappear into nothingness and give you a network error if you try to connect.
Dang, so much for my open order at $0.0004. That's not looking likely to be filled anytime soon!
More good volume today.
He probably just did that for ethical concerns, he didn't want people thinking they were buying stock in the Party Dipper.
The address and telephone are still the same as the contact info on the Party Dipper website, so what changed? The email address?
Another thing to like here is the 15-12G that the company previously filed. If I am not mistaken, that makes it less likely they will suspended by the SEC, since they have no obligation to report for the time being.
No dilution and staying current
Taken together, that's two very good signs.
This should be the bottom, there has been support at or near 0.004 for 3 months now.
All IMO.
Obviously the risk here is the transfer agent is MIA. No one knows the share structure, we can only guess. The Wyoming business portal shows that it is inactive and the registered agent resigned last year.
However, the CEO seems to be a legitimate person with a legitimate other company called the Party Dipper, which has active sales on Amazon and Walmart. That alone probably makes this worth consideration. I did find that the CEO is currently involved in a lawsuit against the city of Riverside CA although I have no idea what is involved or why. That was filed on January 20, 2021.
Here is a link to the lawsuit:
https://dockets.justia.com/docket/california/cacdce/5:2021cv00093/807782
Here is the CEO's other company:
https://www.partydipper.com/
https://www.amazon.com/Party-Dipper-Innovative-Multi-Use-Convenient/dp/B07WWBH698
https://www.walmart.com/ip/The-Party-Dipper-Set-of-4-Party-Food-Trays-Made-in-USA-Simple-Functional-Effective-Party-Solution/323356305
Just looked up AHFD in the Wyoming business portal. Under "additional details" it says 20 billion common shares so I assume it is about 20 billion authorized shares.
Under "public notes" it says "Number of shares: 5,000,000,000"
I don't know what that is supposed to mean but it could refer to the O/S.
However, it has been inactive since February of 2020 so I don't know how current that is.
Link is public and free:
https://wyobiz.wyo.gov/Business/FilingDetails.aspx?eFNum=186031170184045204138184166043171089231241157236
"615.00k" doesn't make sense for the O/S.
There was a 1.1B frontload on 12/24/2020 that was enough to get the stock off the bottom. The following spike was the OTC craze in Feb.
Since then there have been 3 days of 756M, 861M, and lately 1.6B that haven't really moved the price.
Based on the above, I'd estimate the O/S at about 4-5 billion.
Not at all surprised. That explains substantially the price fluctuation since the 8 cents/share high. OTC markets hasn't updated since April 15 and are still showing 3.2B shares, which is more than the 2.6-2.8 billion it was at before the run started.
Current A/S is 4.8 billion. I wonder when the dilution stops. Maybe when the filings hit there will be no debt...wishful thinking perhaps but you never know.
At least the TA isn't gagged.
I'm pretty sure there are grey market securities that aren't Caveat Emptor. See for example: H*S*T*H
Great day for LCLP here given that it has been a bloodbath elsewhere. This one is looking good for multi pennies or dimes
DUTV holding up quite well on a brutal day for OTC. Still hoping for multi pennies here.