Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
They added 30 miners on January 31 to bring total to 752. That's from a Logan tweet on January 31. So, 722 miners for January and 752/3 for February and March.
Instead of getting involved in the conversation when you folks start talking politics, I'll just post something obscure and move on. In 2023 the U.S. beef industry exported 1.29 million metric tons. That's 2.84 billion pounds of beef denied to the U.S. market that could have kept prices lower for U.S. consumers. Spoke my peace without choosing sides. Back to A.R.T. Digital tomorrow. Night all.
If I recall correctly, the news that A.R.T. Digital selected a PR firm came as a response on an X account, not through the companies X account. Think it was sometime mid-March. A little fuzzy on details. In the response Logan stated the PR firm is EIN Presswire. EIN Presswire does not write PR's. They are a PR distribution service. Logan writes the PR and submits to EIN, then EIN distributes the PR.
The only sticking point at this time is pps.
1) Audited financials. (Being work on)
2) Current Discloser to reporting standards (Easily done)
3) A closing bid price of .01 or higher for 30 consecutive days. (Obviously needs to get pps up. Split will help to achieve this)
4) Freely traded public float of at least 10% of total shares issued and outstanding. (No issues)
5) Not subject to bankruptcy or organization. (Done)
6) Be duly organized, valid, and in good standing. (Easily achieved)
7) Assigned transfer agent. (Done)
8) Have a board of directors that include at least two Independant Directors. (For Logan to provide)
9) Have an Audit Committee with the majority being Independant Directors. (For Logan to provide)
All other requirements have already been met or easily achieved.
Uplist should be to OTCQB. Currently they do not meet requirements for OTCQX. A move to OTCQB is a huge step in the right direction. A move to OTCQX is doable later if the numbers in the 2024 Annual meet requirements.
Cool beans dudes. Thanks much. Makes me feel a little more relevant. Have a great night all.
You crack me up carlson. Not that it matters but you have 191 followers and I have a measly 24. Glad I rate with you.
Good to hear from you. Maybe, let's hope so. So much potential here. Just need to be patient and let it play out. Logan says trust his process. I can do that, but he needs to start delivering. Still all BULL here.
Hey carlson, where are you buddy?
A loaded PR from Logan and/or a solid Q1 can propel A.R.T. Digital pre-split. Q1 fins, is both, around the corner and a lifetime away at 29 days. By meeting the requirements for uplisting with audited fins and a board of directors and audit committee with independent members is a major step forward.
Thanks for that. Some good people on this board, you're one of them.
Agree with you. IMO the Annual filing was just a temporary setback.
The filing on the Nevada Business Portal states 10 million preferred shares and 5 billion common shares A/S, not the current 401,000 preferred and 10 billion common A/S. So maybe the increased preferred is to offer investors/partners and the 5 billion A/S common could be reduced to 31.2 million after the 160/1 split. Would be nice to see those restricted common shares converted to preferred and then retired, lowering the O/S even more. Just speculating. Don't know anything until Logan speaks.
Thank you. I found your 04/01 post and remembered it the moment I saw it. I sent an email to Logan regarding 5 matters that are incorrect/oversites/whatever. I don't expect to hear back from him. Agree, the report should be rejected. If I can find errors, imagine what an auditor can find. Once again thank you.
Found five discrepancies in the Annual Report that will need to be addressed. Most likely, hopefully, will be caught and fixed in the audit. Still going to email Logan with what I found. That will also show him that shareholders are paying attention and watching closely. Hope all had a good day. Let's hope tomorrow brings good news our way.
Question: In the Annual Filing assets are listed as $142,287. Should it not be $2,974,001?
Total current assets $29,015
Total fixed assets $2,713,556
Total other assets $115,715
Total intangible assets $115,715
= $2,974,001, not $142,287
There's just not much to say until we hear from Logan. Even a simple nondetailed tweet would go along way.
Just read an updated article in Forbes regarding Hong Kong bitcoin ETF's. Reuters reported the first Spot Bitcoin ETF approvals in Hong Kong are likely to be announced next week. So, maybe Hong Kong ETF's and Halving in the same week. Will be interesting to see how BTC price responds to the two events. Supply and demand.
All good points, facts not pump.
Thank you Carlson, but remember to follow your own path. Right or wrong I'm only stating my opinions along with what few facts I know. Do what's right for you. Best to you buddy.
Smart post. However, if that $4.8 million per year would end up at $5 million then A.R.T. Digitial Holdings can advance to the OTCQX board. Harder to advance from Pink to OTCQB, easier to advance from OTCQB to OTCQX once in OTCQB. Trying not to get carried away with the prospects here but I trust Logan and am all in on his plan. IMO those who bailed with the revelation of a split may regret.
Honestly, I do not want a PR until the name change has been approved. I don't care if that means waiting another month. No more Code Green Apparel Corp nonsense. That is not who we are. We are A.R.T. Digital Holdings Corp. We are a Bitcoin mining company. Bitcoin still floating around 69k and A.R.T. Digital is mining 24/7 with 753 miners. If Logan wants to put out a generic tweet on X to keep shareholders engaged then fine, but no PR until the name change. IMO The potential here is ridiculously good. I trust Logans process.
That is a tricky question to answer. Logan has tied the split with uplisting.
Requirements to uplist to OTCQB requires:
1) Price per share must be a closing bid price of .01 for 30 consecutive days. So does Loagan do the split to achieve that or does he try to achieve that threshold prior to a split?
2) Need audited financials. Being work on.
3) Need to have a Board of Directors that include at least two Independent Directors.
4) Need to have an Audit Committee with the majority being independent members
5) Other matters, but more easily to satisfy.
In my opinion, and I can not stress "In my opinion" enough, uplisting and a potential R/S all depends on how far Logan has advanced in reaching the thresholds to uplist. I would hope Logan plans a detailed PR to advance price per share prior to a R/S. IMO this stock is way over sold. Every day and a half or two days they are making 69k +/- through their mining. Bitcoin isn't going anywhere but up in the long term.
Don't know if that was an answer to your question or not. There are plenty others on this board far more intelligent than I. Perhaps they will offer their thoughts.
Sure thing Carlson. It's more involved than what I wrote but that's it in a nutshell. Uplisting to OTCQB will open many opportunities for CGAC. Big first step. I feel good about what Logan is trying to build.
I would think the uplist would be to OTCQB, CGAC can better meet the requirements and at a faster pace. A closing bid price of .01 for 30 consecutive days, an audit committee, a board of directors with at least two Independent Directors, and a few other things that should be easy to do. The next level would be OTCQX. Currently they do not meet requirements for this level due to low revenue and asset numbers. It also requires a $5.00 closing bid price for 30 consecutive days. If they have a good fiscal year with increasing revs and assets to required levels, then maybe next year for OTCQX. All the info on differences and requirements of levels is on otcMarkets.com.
I know you've been harping about it, rightly so. You're the first I thought of when I saw it was removed. Can't believe name change can be far behind.
I don't see the 'Shell Risk" on OTC Markets. That's one thing off the "to do" check list.
I don't think Logan cares about the short term pps, today, tomorrow, next week. My guess is he's focused on the future of CGAC. Doubt we hear anything until name change approval. One big PR instead of dribbling info out in bits and pieces. Just my opinion.
It's difficult to determine a pps as a result from a good Q since shareholder sentiment needs to be considered. IMO it was undervalued when pps was .0014. The annual was good enough to send it higher but the mention of a R/S caused pps to tumble. So personally, I think the current pps should still be higher than .0014 regardless of the split. Having a good Q1 is important to boost pps, but getting an Indepth PR from Logan is essential to bring stability.
I was playing around this morning with numbers thinking of Q1 that is due mid-May. Just a thought, Q1 is actually the last quarter, fourth quarter, representing CGAC since Logan became CEO.
Thinking of revenue for Q1 this is what I came up with.
BTC high price average for January = 43.8k
BTC high price average for February = 50.3k
BTC high price average for March = 67.6k
Average high price for BTC for 1st quarter = 53.9k
Using a multiplier of 1 coin mined every 2 day instead of 1 1/2 days that is commonly accepted here is:
91 days total divided by 2 = 45.5 coins mined in Q1. Drop the .5 to bring to 45 coins.
45 coins x 53.9k quarterly average = $2,425,500, minus 5% since its unlikely they sold at the high of the day.
$2,425,500 - $122.622 (5%) = $2,302,878 projected revs for Q1
Obviously just an estimate from available info and a few assumptions.
I get it. I also would have liked to see a share buyback. The only problem with that is if they're buying back shares then they're not buying miners. I don't think they are in a position to do both.
Their deal with Just for Krypto, announced July 25, 2023, was for 1000 miners for $1.65 million. That's $1,650 per miner. To consider the best scenario for a share buyback of one billion shares at .0003 would cost $300,000. It would only bring the O/S down to 3.2 billion shares. Honestly not that impressive and would probably only have a short-term positive effect on price per share. However, that same $300,000 would buy 181 additional miners using the Just for Krypto numbers.
In my opinion with the halving approaching in about 12 days adding miners should be priority since they are the revenue generators, the money makers. I admit I want the best of both worlds, buyback and new miners, but I don't expect that to happen.
I'm not going to let the prospect of a R/S dampen my enthusiasm and expectations for CGAC. The Annual Report was respectable. Keep in mind, in reality it only represented new ownership for nine months since Logan didn't become CEO until March 2023.
March 13, 2023, was the true beginning of business when CGAC acquired BTC mining entities referred to as "Operating Group 1" and "Operating Group 2". On March 13, 2023, when this occurred BTC was trading at 24k, now it is trading consistently in the 69k range.
Since that time Logan has increased miner count to 750 +/-, has proven to be conservative with shares by not diluting, has engaged Cherry Bekaert LLP as accountants and Mac and Associates as auditors with plans to uplist, negotiated the majority of notes due to be extended until 2027, released a new website, and filed with FINRA for name change and updated ticker symbol. The shell status has been addressed and in the hands of OTC Markets to have it removed.
IMO that is a productive year of accomplishments. Logan asks that I/We trust the process. If it takes a R/S to get CGAC out of Pink sub-penny and away from predatory lenders that care the least about shareholder equity, then I'll trust his process.
Bitcoin looking good this morning at $72k plus.
We definitely need and deserve a PR to get CGAC righted and back on track, but IMO we get nothing until FINRA approves name change. There's still so much potential here; just need to hear from Logan.
No, actually gave you a follow a ways back because I sense you're a good person.
You're only at 4. You are much better at enduring nonsense than I am.
Hey Carlson, missed your post yesterday. They have not been diluting shares, they have their debt under control, and they're making revenue. If Logan follows through with the split CGAC will have a O/S of only 26.8 million, low at any level of trading.
I thought the same and got curious and looked it up. Closed at .0002 19 times since 04/11/2023. Hit .0002 more times but closed higher. Last time it closed at .0002 was 11/30/2023. Had a 7-day run of closing at .0002 between 8/3 and 9/7. So, I guess there was ample chance to grab .0002's over the past year. Never thought we would be down here again but we are. Kahlua shots with a Corona chaser helps. Tomorrow we start over.
Exactly!
Totally agree. I do feel for those hoping to make a quick profit and those that have been here awhile waiting patiently for good things to develop, but we are where we are. Some here have dedicated a lot of effort over time and feel abandoned, frustrated, screwed, and I get it. I only hope the best for everyone.