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Like the most recent 10-K that by my reckoning, appears to be valid in every material respect? (IMO.)
If Poutre, et al were in this to scam investors out of money for a quick profit, Croe Inc was literally one of the worst trading vehicles they could have chosen to do it with. Almost all the shares are restricted without hope of seeing the light of day. Either the executives collectively have Three Stooges level incompetence or they didn’t take it over with the intent to scam.
The Fly’s blog (BTW, is he Spanish?) also neglects to go into any detail on the other members of the executive team besides Poutre and briefly Ivankovich. Nada on Gilbert, Levy, Furst, or Schwartz. I guess those guys dont matter because... Poutre? Ridiculous.
The author seems to have a personal vendetta against Poutre for some reason. Maybe they crossed paths years ago and this Real Fly felt slighted.
Is Poutre perfect? Absolutely not. Is there a logical jump from illiquid stock trading at a massive premium on the pinks for a few days to absolutely no doubt scam? No. CRCW was trading at $20 at the beginning of the month and during this massive uptick the average volume was about 7,000 shares. A massive 7,000 shares. No one is rolling around in an Uncle Scrooge money pit due to this run up. This feels like an outside pump and dump if anything.
In fact the vast majority of shares held by the executives of the company are restricted. Last reported Form 4 sale saw those going for $7. The only market for these restricted shares is accredited investors. Quoting market cap when >95% of the shares aren’t available to the public is disingenuous at best. Had this guy done his homework, he’d know this.
IPOs are quite expensive:
https://www.pwc.com/us/en/deals/publications/assets/cost-of-an-ipo.pdf
The underwriting fee alone should dwarf the cost to get RMRK cleaned up.
I believe MrPirate was speaking regarding the "CRCW appears pretty unconcerned" bit of it. I agree with MrPirate. It's not possible to know their level of concern. There may be legitimate business reasons for pushing any plans they have for RMRK back into 2018.
If I'm counting right, this is the 22nd trading day in a row where RMRK has closed between .0005 and .0008. Talk about range-bound.
Shouldn't the process be: OTC finds something "wrong" with the company -> OTC contacts company and gives them x days to rectify the situation -> if the situation is not rectified within x days, OTC will put a warning on their website with some specific reason as to why the warning exists.
Just my opinion. Seems like a better way of protecting all interested parties. Anyway, go RMRK!
Thank you for taking the time to call them up!
Still bizarre to me that they are so proactive about buyer beware, but leaves the buyer completely in the dark as to why. (Speaking in general terms here.) That seems like a lawsuit waiting to happen.
The 10-K does say CRCW "expects to consummate the acquisition in 2018" but couldn't it be announced late in 2017 and then close in 2018?
Not saying it will, just saying.
“It’s a guess” is exactly what I was attempting to get across to this other person, but they seem to be quite sure it’s a RM related thing. None of the investing public really knows. We’ll find out eventually.
C’est la vie.
And these are the other reasons for a CE, again quoting from the rules:
Other Public Interest Concern — OTC Markets Group may determine that there is a public interest concern regarding the security. Such concerns may include but are not limited to promotion, spam or disruptive corporate actions even when adequate current information is available.
"May include but are not limited to." That means pretty much anything. Hence my and others qualms with OTC transparency in this matter. Their own rules are as vague as vague can be.
Like I said earlier, I don't even really care. GLTY.
I kinda feel like an idiot for not buying a few shares at $20 last week.
Dilution is not mentioned anywhere in the OTC CE rules. You asserting that the rules are reserved for dilution issues does not make it true.
Also, never hearing about something does not make it untrue.
Go here and do a word search for "dilution": https://www.otcmarkets.com/learn/caveat-emptor
I have read them, thank you. Illiquidity is not listed specifically, but easily falls within the bounds of a public interest concern:
Other Public Interest Concern — OTC Markets Group may determine that there is a public interest concern regarding the security. Such concerns may include but are not limited to promotion, spam or disruptive corporate actions even when adequate current information is available.
The OTC has given themselves carte blanche to post the CE literally for pretty much whatever. Illiquidity is quite rarely a problem with Pinks, quite the opposite, but that doesn't mean it can't be an issue.
(Thank you to TheRealMrPirate for posting the OTC CE rules below.)
There are at least 10 million more shares at 9. Probably more from NITE and CDEL that won't show in L2.
It is NOT because they are not enough shares like the others are claiming.
FWIW, I looked through a number of other crypto stocks on Pink and QB, and none of them has the CE. SA&P has a yield and IF&Y has a stop, but those crapfests are marked for different reasons than CRCW is (I believe).
That’s a great point about the illiquidity of the stock. Could be once the perceived market cap went bonkers, OTC has now taken it upon themselves to make people aware that there are only a few thousand publically tradable shares.
Not that we’d know because OTC isn’t saying. Apparently their actual job is to post a foreboding sign and be done with it.
And to be fair to CRCW, they did note the illiquidity issue in their last 10-K.
It would help if OTC Markets: "Open. Transparent. Connected." would be transparent and say why the CE is there instead of making people guess by just slapping it up there.
If you think CRCW is worth $300 million, which I think is generous but maybe, that translates into $0.15 PPS for RMRK stock, assuming the O/S shares of Rimrock don’t change. Don’t know if it would jump to 15 cents immediately, but theoretically that’s where it should gravitate to.
CRCW does not have a market cap in excess of a billion dollars. They only have a few thousand publically available shares. The scarcity of those shares artificially inflates the price. Economics.
They just filed a Form 4 showing their non-public shares being traded to an accredited investor for $7/share. That’s a lot closer to reality than $84.50. Even if you say that they gave the accredited investor a deal on the shares, which they don’t necessarily have a reason to do, maybe their shares are worth $10. That puts their market cap under $200 million.
CRCW at last check had under $4 million in assets. The list of billion dollar companies with a $4 million asset base is very, very, very short.
I’m excited for the possibilities if the RMRK-CRCW merger goes through, I really am. But let’s not get ahead of ourselves and pronounce The Crypto Company a billion dollar enterprise. It is not, at least not right now.
The average franchised dealership sold 1,000+ new cars per year in 2016:
https://www.nada.org/nadadata/
So 50 per month would mean about 60% of new cars. Depending on the dealership though, it could be well under 50%.
That's also assuming they aren't offered as an option on used cars.
Good try tho!
looks like the ceo full of chit
Have doubled my position with ONCI this morning. Really excited thanks to all of the wonderful DD done by Insta, Mary, TJG, etc! I don't invest in many penny stocks, but the research leads to me to believe that this has the potential to be a special opportunity and I feel as though the time to get in at a bargain price (relative to where it is going) is coming to an end soon.
Exactly $6 was traded (“hit”) at .0004.
It’s kind of the same thing every day, “I think we’ll see 4s today!” And then not really. Good to know 3s are a real possibility now. I’ll hold my breath.
because it doesn't take this long for a professional firm to do this.
Yah, they're really bad at gold mining.
it doesn't take months and months and months to get current no?
If closing at 6 instead of 5 makes you feel better, you can spend $10-$15 and buy 10,000 shares at 6.
There's really no difference between 5 and 6 to me.
I can't reply to PMs, but someone asked me:
do you think that site has the potential to attract a lot of users?
With no news, the price is going to do what the price is going to do. With the exception of the little run up at the end of October it's basically been in the same range 5-8 range since the middle of September. It's scraped 4 a few times.
I think that if anyone is playing this as a momentum trade, they are not going to be happy. This is a fundamental deal. This trade either really works if the CRCW deal does go through, or drops to no bid if it doesn't. The in-between doesn't matter so much. IMO.
https://cointracking.info/
This is the website that CRCW is acquiring. I played around with it back when I started investing in cryptos but didn't need the additional services. Now that my portfolio is bigger and I have more bountiful tax implications as a result of my investments, I will definitely take another look at using its services.
Here's the pricing:
https://cointracking.info/pro.php
The basic service with manual portfolio importing is free, though it is limited to 200 trades and frankly, having to manually import everything is why I didn't keep using the site in the first place.
The second tier of service is about $220 for a year (priced at 0.02 BTC), and the site will automatically hook up with wallets and exchange API to import your data for you at regular intervals. All of the major exchanges are there from what I can tell. Coinbase, Bittrex, Binance, Crytopia, etc. There is a 3,500 trade limit, which should serve most crypto investors pretty well. You're also limited to 5 blockchain wallet imports.
The highest tier is about $330 for a year (priced at 0.03 BTC). You get unlimited trades, 50 blockchain wallet imports, prioritized caching for faster portfolio calculations, access to all future updates, and a few additional portfolio export methods.
You can purchase lifetime highest tier access for 0.34 BTC and as an added bonus, if the website ever goes under, you get the source code to the software. If you're into that.
Reports the program generates are very helpful. It's handy to be able to look at your portfolio chart as a whole, as opposed to looking at each individual investment. And as I mentioned earlier, the tax service part of the software will be invaluable if you make more than a handful of trades per year.
If you trade in cryptos, give this a look and support CRCW. And in turn hopefully RMRK.
Although we don't know the full extent of their operations, CRCW is a bit different from some of the other crypto stocks in that they are gaining balance sheet value by investing in cryptocurrency, as opposed to mining it. They may also be doing mining but it hasn't been disclosed to this point, to the best of my knowledge.
This is why I'm not worried about the wait as much as others. CRCW's value is more heavily tilted towards its balance sheet at the moment, instead ofg its income statement. As long as their crypto investments keep appreciating, that value will still be there if/when a merger with RMRK goes through.
At least according to TDA, volume was 465, which is right around the 30-day average.
As previously stated, auditing and attestation of three years of financials is not that simple. You have to draw a line from where the company was last audited until now. It's not just throwing a bunch of zeroes on the back of an envelope and calling it a day.
The auditing part of timeframe is not even under Starkman's control:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136263394
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136263916
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136266741
The Titanic went down pretty quickly. About 3 hours.
This Titanic analogy nonsense started like 3 weeks ago, right?
Still waiting. Jack and Rose could have eloped and gone on a full honeymoon at this point.
It was an excellent presentation... on how to say absolutely nothing with 42 words. Expertly done. I can only imagine the experience it took to write that.
Anyway, patience is a virtue. IMO patience will be rewarded handsomely with this investment. Go ONCI!
They are expecting a merger over at IF&Y because the fraudster CEO of that company put out a misleading PR stating that Infrax was merging with a company with a name very similar to CRCW’s. However, that company referenced in the PR is NOT The Crypto Company nor its subsidiary.
The PR also happened to drop a few days after CRCW’s 10-Q, which made no mention of Infrax. The same 10-Q did again explicitly name Rimrock.
Check out Talari’s history as an exec - it’s the top sticky on that board. IF&Y is a monster infraxing scam.
I’d hope it’s either done and with CRCW as they get ready to set their plans in motion, or it’s with the auditing firm, in which case Starkman might have little to do.
Lol.
I admire the persistence of the IF#Y pumpers. Facts be darned.
Probably the smartest part of their incredibly misleading PR was to release it right after CRCW’s 10-Q came out. The scam could take 3 months to be fully smoked out. Genius!