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If you are averaging down - why buy now? Why not wait until the stock hits .0001? I mean really think of it, if you wait until .0001 you can buy so many more shares for your money. You will not have to fight anyone for the bid and you can buy up the whole 20B shares if you want....
Stop buying and wait til the trip 0's. Save your money to buy so much more!!
Second Tuesday of this week is what they meant to say.... Seems like the shortly/soon fantasyland is fitting to have a second Tuesday this week.
LOL - that is what is called LOW FLOAT. That helps the price to jump when there is fewer shares and people want them. Simple supply and demand. That is the idea situation with any stock, especially if you own 1% of the Outstanding shares. If the OS is low and there is a demand, then you better believe there will be enough to trade healthy. The problem with the dilution here is people are losing interest and they keep diluting. The supply is getting bigger and bigger and the demand is getting less and less... and then we hit the .0001 with no bid.
LOW FLOAT and minimal shares is what you want......
yep - and I am one of them.
Who the F cares how many followers you have? Just because I don't spend my whole day here on the IHUB board seeking followers doesn't mean jack shit. It seems the people who spend their whole day here must be paid to be here ... and have followers. Isn't that how it works? The more followers and the more posts and replies you get paid for...
Talk about paid pumper bro. - you just revealed your shit all over the place.
You need to reach out to SEC and bring up the story as well. Enough people contacting the proper authorities to investigate will bring them down. I am not saying we will get money back - but I am saying they will not be able to keep their (our) money. If this was as much of a scam as I believe it is - they will probably be serving jail time.
Then they won't have to worry about the 10K dropping - they would be concerned about the soap dropping.
I say give them powder soap... longer to clean up.
My original investment pre RS was $50. All I should have done... but that got me 500K shares. In the reverse split and right there after, I had 83 shares left. I decided I would stick with this and run, I dropped $30K in at .61 share. That put me just shy of my 50K shares. I should have stuck with my strategy and sold 15K to cover my initial investment when it hit $2. That was my plan - sell enough to cover initial investment prior to 10K... but greed got the better of me. I held. Then I started watching everything closely because I was losing money. When it was .40 I was down a good amount, thats when I realized they were diluting the hell out of the stock. I decided not to lose anymore and started selling, dropped down to .30 before I sold down to 8K. Then it kept dropping- down to .15 and I sold down to my last 1K. If I get back even $2K on that I will be lucky.. but I am thinking nothing. I am down almost $16K because I got out early enough.
I wish there was more I could do to get this company brought into the scope of SEC. I have friends at FinSEC and FINRA... I have been reaching out to them. We shall see. It takes time to build the case - I think Tim knows that.
No .. not a bear raid. Pure dilution. We are now sitting close to 8-9M outstanding shares.
i have filed several as well, that is all we can do for now. I have worked with and consulted for federal agencies, fortune 500 companies, and I am grabbing at all my resources I can to help find a way to investigate what has happened here..... Of course, most of my colleagues have advised to walk away, but I can't it is just a sick ass shit show and it has gotten me pissed as hell.
FLES is more like DOLLARS to PENNIES
All of your hard earned dollars going pennies. This is faster than my daughters can spend it...
FLES is nothing more than a Tim Armes get rich quick scheme; where he is the only one getting rich quick. I am sure he took Chris in and manipulated the hell out of the situation and is taking him to the cleaners.
I still have my 1K shares and will continue to express my opinion on this situation until I am PROVEN wrong. I have not been given any information nor documentation to prove otherwise, but have seen enough BS to believe my theory is correct.
Yes, I am back throwing out my conspiracy theory, which seems now it is slightly possible that this was a scam. I still believe this was a scam initiated from the beginning by TIm. I believe there are wolves among us who work specifically for these bastards (someone mentioned family members, its possible) and they have taken advantage of the situation and have milked this cow hard. I believe there is a 10K with horrible numbers that will show that the company was struggling in 2018 and the 10Q in 2019. Everyone got excited when the skullcrushers "leaked".... does anyone know anything about skullcrushers? has anyone ever ordered from either FLES or SKULL? Earlier everyone got excited and said they had followers etc on FB, TWITTER... well you realize you can buy your followers? Scams are not done to easily be seen and noticed that they are scams until too late.......
Well.... it is late in the game. Who is thinking this may be a scam? I am! I have depleted my position down to 1K shares. I will hold and HOPE that I am wrong, but all indications point that this was a scam and they are raking in the dough.
Wish the best for those who have averaged down....
Seriously, gutsy move with the way we have been treated as shareholders! I have my 1K and I am staying there. I am soured and don't see that it will go up much.
Best of luck to all those who avg'd down. I really hope this turns around and if you are holding 20K +++ and it hits the $5 -That would be epic for all of you!!!
Beg to differ - their last Share structure shows they are diluting. Prove that they are not.... not state they are not PROVE IT! I said they were diluting all the way back in May .. and got berated like I was some fool - well, they were and we did not have to wait until the 10K to learn of it.
Exactly - I am guilty of contacting the accountants several times. I can't get past the secretary who answer the phone, nor get a reply from anyone other than the customer service - prob the secretary. Same answer and reply every time - Sorry we cannot comment on the status of a client's financials. I even asked about whether they had someone on vacation in early June. They replied basically the same thing - no comment on employee information.
No one is delaying the accountants. My belief is that the 10K has been done a while ago... Numbers are definitely not where they were PR'd and believed to be.
Consider the following:
If the 10K was as MAGNIFICENT as they claim it to be, they would have put a RUSH on the accountant to get it done. TWO MONTHS!! TWO MONTHS they have had to get the numbers together. This from a 10K that was already prepared and READY TO FILE in late APRIL. So what - they changed accountants, if the docs were ready it would be a short review and BAM docs filed. I will accept the fact (I don't believe it true) that the docs were delivered late. Say... May 21. Two weeks would be all it would take to get the 10K reviewed. At this point if it were already to be filed in Late APRIL - it would be just a review and audit and good to go. NOPE - here we are 2 months out. AND DILUTION IS RAMPANT!!!
I believe they did not release 10K because they know the numbers are bad. Otherwise they would have been demanded accountants to get that 10K out to up the stock price and then announce dilution to pay off debt.
I am done for the day - but I am going to reiterate my thoughts...
Tim scammed the hell out of Chris and all of us. I am sure Chris is privy to what is going on but I believe Tim is the main culprit. Tim is at the end of the line and realizes his MCGI crap was going no where. Of course, we all know what happened with MCGI. Debt, dilution, ...yadda yadda. Tim with nothing but creditors banging at his door needed to find someone to help him unload the debt on. He conned Chris into taking 4LESS public. The idea for Chris was probably to use some dilution to buy new product lines and add to the inventory etc. However, as plans progressed TIM is the financial guru and Chris is now bound to that bastard. ##Don't get me wrong, this does not excuse Chris actions - he should stand up and push for Tim to release get shit in order##. Tim needs to dilute until he has bankrolled out his retirement, I believe the company is not doing as well as PR'd and the 10K will show they have very little revenue. This alongside with the toxic debt will be seen in the 10K. There is no way to determine where the funds are being appropriated and whether they are dissolving their toxic debt. Even a PR saying this debt is gone now or something that shows they are doing the right thing... although, at this point, I would have a hard time believing anything they say, now I need to see actual documentation.
Anyway, I don't believe this will rise to over .30 ever again. Sentiment is changing and the shareholders are very irritated. I do not condone violence or threatening someone with violence over a ticker, however, this should give some insight to Tim and Chris the sentiment of the investors. This should make them consider they need to change the way they are running the company. Whether or not Tim releases a PR, makes no difference, if Chris felt different, he could and should, reach out and release a PR. Again, if he doesn't and the company structure has Tim as CEO and Chris as a lesser officer, well, that proves that Tim scammed and conned Chris. It was Chris company and he should PR - with or without Tim's permission.
Agreed. No one should threaten over this.. period.
But they are both liars and thieves. Their behavior and disrespect of shareholders sickens me.
Where is your proof they are using the funds appropriately? As far as stating the "villa in the bahamas" it is an analogy, it is simply a way of describing something. I have no clue what he is using the funds for - AND THAT IS THE POINT... NO ONE DOES!
Not you , not me, no one on this board.
I don't expect anyone to believe "my shit". I am pointing out what I believe is happening - just like in May when I pointed out that dilution is happening right in front of us, and you sir, said "NO they are not diluting! They wouldn't do that - wait until the 10K we will see!" Yeah, no need for the 10K - they are diluting and still no word from the company whatsoever....
You are so schizophrenic - one moment you are bashing them and the next you are defending. What way will you think when the 10K drops and then you see they have very little revenue?
You realize the averaging down theory only works when the stock price goes up eventually. If it continues to go to .0001 and no bid... not much you can do to recoup your losses on that.
Good Luck bro
My breakdown of what I think has happened and is happening: This is my opinion.
From last year a merger and an idea began. Tim needed some way out of the MCGI shit show he dealt with. Along comes a profitable company, Lift Kits 4 Less. Tim manipulates and gets Chris to merge the companies. Think of the concept.. if LiftKits4Less was doing so well without Tim, why merge? Bad move to take on the crap load of debt and add it to FLES debt. Nonetheless, it is what happened. The two worked together to switch the name from MCGI to FLES and it was a success. In the process, a R/S was offered and it was a good thing to help eliminate some debt and raise the stock price. During this time we heard great PR's on the revenue, we heard great updates about the name change, etc.
Step forward to May 1. We have the name change done and anticipating the financials, which were said "ready to be filed" all is going as planned. Well, if they were ready to be filed, what the hell has transpired in the past 8 weeks? Why are they not ready to be filed? if they were ready to be filed, then the transition would not take this long, let alone the review, edit, and updates. Were they lying and saying they were ready? or were they lying and the fins are not what is expected? From last year how many people sold the stock when the company announced a RS? I didn't. I held. Not fun, but the idea is that they announced it and we were ready for it. They let us know what was happening.
I believe the old accountant had their ducks in a row, so to say. Everything was done and they handed the documents over and Fruci went to town. I believe it was within the two weeks and they were completed the audit of the documents and the updates and documents ready for filing May 15 (or earlier). However, the revenue was nothing like they PR'd. Their excuse on this will be that the old accounting firm had accounting errors and it is not as expected. They will also say - Good thing we went with a better accountant.
Tim and Chris have known for a while that the revenue is nothing as they anticipated or announced. They keep announcing revenue growth year over year 40%, but that may not be the case either. I believe they are milking a sour dead cow. The dilution will continue. I do not believe there is an institutional investor. What institutional investor would sit idly by and wait for the dilution of the stock? If there ever was one, they have easily walked away. If you had nothing invested in this yet - would you put money into it? Rhetorical question. I believe the goal of Tim and Chris is to dilute as much as they can - eventually this will hit a point where it will be no bid. Then comes the 10K and 10Q - but probably they would not care to even post them at that point... who cares?
The sentiment here is starting to change from complacency to irritated. Shareholders are getting irritated. They have every right to be irritated. They have been led to believe many good things about the company from insiders and stock board posters claiming to have conference calls with the owners. PROBABLY NEVER HAPPENED. They were either paid pumpers and / or owners (Tog=Tim debate).
Again, this is just my opinion, I have been wrong before. BUT to clarify - I have not been wrong on a lot of what has happened here for this ticker. I claimed dilution back in May -- just around May 20. I claimed that we would not see the 10K for at least a month or two. And when they said the delay in 10Q, I said we probably won't see that for at least another 2 months.
Combination of both.
The accountant usually handles the filing of the financials, more or less because they are supposed to be knowledgable of the process etc. If the company does not have accountants, the CEO will be responsible for filing etc. Anyway, yes, I believe the financials have been done for a while. I believe that the company is withholding the financials because they have not made the revenue they claim. I believe Fruci has told Tim that they have completed it and Tim has instructed them to not file until he is ready. As an accountant would you ignore the directions from your client? Like I said before, any company should be able to give an accountant a deadline and they should reach that deadline - come hell or high water. Well, we got hell. I am sure they met the deadline and now we sit in Tim's hell box until he decides he has enough funds for retirement and his villa in the bahamas. Then we may see the financials.
I agree. This would put pressure on the company ... but they don't care. I really do not think they give a shit. They will continue to dilute as much as they can and the people who average down will continue to pay the Tim / Chris Villas in the bahamas. They are old, ready for retirement, and this is most likely Tim's last gig EVER. No one wants that washed up POS worthless CEO working for them, not even as janitor. IF he was janitor, the place would look like shit - he never meets his deadlines.
The only thing that I think would be able to pressure them is the actual threat of legal action. But even that may not be good enough. They will dilute down and use your money to pay for their legal fees. Court cases can take years and by that point, the company is going to be bankrupt and nothing comes back to the investor. Nonetheless, I am still research a couple of legal options - even Thrifty posted today about a legal option. I think the sentiment in this shit show has finally changed.
I don't believe Fruci is involved. That being said, Fruci cannot comment one way or the other whether the financials are completed for a company. I have been trying to contact them regarding whether or not they are negligent in completing the financials, but they continue the same reply, we cannot comment on a clients status. I believe they are probably long done with the 10K / 10Q and it is up to the company to produce it in a PR / Filing. The accountant can be told not to file from the company.
My thoughts on the delay:
10K is far less than the $9M stated in PR and publicized here by Tim, oops, I meant the great and marvelous wizard of TOG. I personally believe we are delayed because they know when they release such crappy numbers, this will surely plummet and they can't dilute at the great price of .09. We will see the price hit ~ .01-.03 real fast and then it will be more dilution driving it down to ~ .0001 with no bid.
Thats just my .02 (or 1 future share of FLES). Really - just my opinion.
Josh
The hard thing is this is the OTC. On other stocks, I hedge my bets with PUT options. If I buy a stock and anticipate the growth of the stock, I will invest in some PUT options to hopefully use them to minimize my losses if the stock prices sours and drops. On the OTC, individual investors cannot "short" the stock and I do not believe they have PUT options, none that I have seen anyway. I have only done 3-4 investments in the OTC and my others have 1 loss, 1 even, and 2 did okay. This is the worst I have seen on the OTC - This adds to a major loss on the OTC for my record. I have backed out my position to the point that I will definitely be in a negative position even if this were to get to $2. I have minimized my loss and sold at a higher price .... I am still holding 1K shares though.
Good luck to you!
Remember to only use funds that you can afford to lose... especially in the OTC.
Shortly - examples:
Remember the SS Minnow - it went out for a short three hour tour. The weather starting getting rough... (for those who don't know - Google Gilligan's Island)
All seems familiar to the story here. Shortly....... and here we are on the deserted island. Except we don't have Ginger or Mary Anne.
Bro - that bag of dog crap was my 1K shares of FLES.
Thank you - good info. I will definitely contact. I have contacted other lawyers and they do not want to take part of this - mainly because the time, effort, energy to getting this through court and getting funds from an OTC stock, is not worth it... that has been the sentiment from colleagues, other investor groups, and legal entities that I associate with. Many have advised me to take my loss and walk away...
Maybe if we get enough sentiment pushing to contact lawyers, they stop the dilution and produce the 10K.
........Then we see the real shit hit the fan. I believe they have produced lies - meaning they do not have 9M in revenue and they have diluted to the tune of 7-8M shares. They have dangled carrots for people only to keep people interested long enough to dilute the hell out of this stock. That being said, I return to the thought of contacting the lawyer. I NEVER post on stock boards, NEVER, but this ticker has gotten me so unraveled and irritated because of the way they ran this scam.
Think about the realistic ability for a buyout.
Example: FLES (Tim) decides he wants to do buyout. He would HAVE to meet deadlines. He would have to have his reporting done in a timely manner. No respectable company will buyout another company with financials in such shams that the company takes and additional 2mos +++ to release them. Seriously, I do not mean any disrespect to you, but the idea that they may have a buyout is just idiotic.
For this to get to $20 a share, that boat has come and gone. I agree, it could have been $20 a share and it should have been close to that. However, the BS they pulled and the way they are running the company, I do not believe we see $1-2 share ever again. I agree with you also, if they had released 10K and the numbers were good (which I still doubt they hit 9M) the stock would have easily jumped from the $2 to the $7-10 range easily, higher on shareholder sentiment. At that point, they would have done themselves justice and announced a small amount of dilution to cover debts, restructuring, and some operational expenses. Shareholders would not have complained - they made a bundle of money already. And I mentioned this earlier, if they did it right, dilution would have been less, SP would be high, and shareholders would be happy. That is a recipe for success there.
I do realize that WE are on different opinions here, I do respect your opinion, but I have a really hard time believing any company would be interested in a buyout. That is complete speculation and nothing indicates such a speculation. If there was any evidence to see such a speculation I would concede my point. However, late filings, dilution, and secrecy and quiet all speak to the opposite of buyout.
That is funny, I posted that several weeks ago on my speculation that the great and marvelous wizard of TOG is Tim. If we could prove that Tog is Tim, we would have a case to take to court and shut down FLES and get our money back. However, the OTC and these StockBoards seethe with paid pumpers, owners, and others who are in cahoots with the owners to manipulate the stock price for their own gain. I have contacted several lawyers who have all indicated that this is likely the case here and they have also indicated that this was probably a scam from the beginning.
Every day the SP will continue to slide. I seriously think this company does not care how much they dilute the stock. I am not sure where Tim got his degree from or his "CEO" training, but he needs to go back and be re-educated. If he believes silence and the veil of secrecy is the best way to run the company, he needs to move forward from the 1950s. Maybe in the old days, but today it is all about transparency and making sure the shareholders are kept abreast of any material events, including offerings and dilution.
Any respectable company would give direction in the amount of shares they plan to dilute and how much they need to relieve debts, costs restructuring, and fund some future expansion. This company has given no indication of any of that - which makes me believe they do not plan to use the dilution in that manner. If they PR and state these claims, then they are required to make good on the claims, or else they can be held liable by the shareholders. This is the reason we see no PR or any indication of what they plan to do with the funds.
I think the sentiment for the company has finally turned sour amongst the majority of the shareholders. The best thing for companies on the OTC is the "word of mouth" that goes from one investor to the next. Would anyone in here recommend this company to a family member, a friend, or even your worst enemy? i think not. I would not (sorry, using my bias for the masses). Basically, they have shot themselves in the foot. Even if the company releases the 10K and the financials are somewhat decent (which I doubt - I seriously doubt that they are 9M, just my opinion from all the lies we have seen now) we may see this pump up to ~ .30. Once it hits there, I believe they will start the dilution again and sink it back down. This is Tim's last run at making his retirement (he is 60, am I correct?), he needs to fund everything he can because this is end of the line for him. With this track record WHO IN THEIR RIGHT MIND WOULD INVEST IN A COMPANY RUN BY HIM AGAIN? This is his retirement. They are not paying off debt, paying for restructuring, nor paying operational costs.... this is strictly going to his retirement account. Think of it this way when you average down, your funds are paying for his retirement villa in the Bahamas.
This is all my speculation - I am not saying I am 100% accurate, I am saying from mid-May I pointed out the dilution was happening. I also pointed out that we would not see the 10K for a long time. I have been honest and disclosed that I had 50K which I started selling and getting out of this position back in around May 20-25. I continue to hold and keep 1K shares hoping that something may happen one day. But I have minimized my position and accepted losses on this POS. However, that being said, you do what you need to get through this fiasco. This is your money - be responsible with it in the manner you see fit.
I really wish all of you (us) the best of luck in this and all of your investments.
Cheers
Don't be deceived.... They will dilute down as far as they can. Makes no difference to them - it is basically free money. People will still buy. There are people who will continue to buy and allow them to continue to dilute all the way down to sub-penny. Because they believe the lies that have been propagated by the great and marvelous Wizard of Tog.
Yes, very upset. Not necessarily at the loss of money, that is part of the game. This was a very small fraction of my accounts. However, what I am upset at is the BS that keeps spewing from the company.
I will admit they are a business. I will admit that they probably do have revenue ($9M, I question that, although they may have said it). I realize they have to make the "business" in line and clear things up to up-list. That is perfectly fine, but direction and information from the company is what is needed. A PR with a statement of ... We have $XXXX in debt and we need to clear this from the books, our plan, dilution. We have a 10K due and a 10Q due, here are our definitive days we deliver these, no excuses, they will be delivered. We are restructuring the business and in doing so need some funding for new product lines, new technology to run the business, etc... we plan to use dilution to fund those expenses.
If they want to up-list then that is the stuff they SHOULD be doing now, because that will be expected from shareholders when they get on NASDAQ or wherever they choose to up-list. Also - meeting their deadlines is required as well. Failure to report their 10K and 10Q in timely manners (outside of the NT) will give them a delisting notice. Hence me always saying they can demand the accountant have the 10K and 10Q prepared in a timely manner. How come so many other companies can demand it but FLES cant? Makes me think they are doing some nefarious stuff and hiding behind the "accountant switch" trick.
Just being honest and straight forward with the shareholders, releasing PR's explaining what is going on, will do so much better for sentiment than hiding behind the veil of secrecy and quiet and let the shareholders guess what is happening. When that happens sentiment is lost and hard to restore, even for new shareholders. I was hoping Tim would have changed after the last shit show called MCGI...
I hope you don't take my frustrations as attacks on you. From your comments, I think you realize where my frustrations are directed. I think you have been a "uplift" to the board here and your positive attitude through all of this is admirable.
Cheers!
Yes, so true. I have done maybe 3 total investments on the OTC and this shit show is why I try to avoid OTC. I should have known, when it sounds to good to be true... well, it most likely is. Yes, the murky waters of OTC.
Apparently there are some among us who will continue to buy $10K (exaggerated) everyday while the stock price drops. They just keep buying up the cheapies and will plan to do so until the stock hits well below a penny. These same people promote and say the stock is pennies for dollars now... All is good in FLES Land, buy buy buy... don't be without shares when the 10K drops in 2 years.
You can see their messages posted here. They just want you to keep buying - I seriously doubt they are buying any more. If they are buying, in my opinion, they are wasting their money. But good luck to them getting their avg down, that is all they are doing. I do not think this will ever get back up above .50. Most likely it will only get to about .25-.30 and then Tim will start diluting HEAVY again and throw this back to the .05-.10 . It will only get this high - IF WE ARE REALLY REALLY LUCKY.
Just my .02 or 1 share of stock soon.
Yeah - that is if the company gave a shit. The company does not give a shit about the deadlines. They don't care to deliver on anything anymore. They set themselves up nicely to get some gain from May 1 onward and now they are diluting the crap out of the stock so they can pocket the money. They have to push back all deadlines until they can dilute all they want. I think the next filing we see from them is a Chapter 11 or Chapter 13.
Stock Plummets all is lost. Except for the money they raked in diluting the stock.
I am not saying that all 400-500K is dilution...
What I am stating is the dilution is still happening. As volume increases so is the dilution. On a day like today, I would anticipate about 350K being dilution. I don't see more than 60-70K being flipped. Spread has not been wide enough (low vs high) to really flip much. I would have anticipated more flipping back when the prices swung from .18-.24 - back and forth. YET, we had less volume back on those days. So really, I don't see more than 60-70 K being flipped at this range.
NO PROOF? It is right there in all of our faces.
You see the 400-500K shares in volume a day and very little price movement. Back in late May when I pointed out they were diluting - everybody called me BS. Everybody said there is no proof. On June 12, everyone found out they diluted 3M shares in 6 weeks. Soon we will see they 3M shares in about 3 weeks. Well - nothing has changed. Oh, sorry, yes it has... volume has increased and they are diluting more and more every day.
Tim is trying to wave his hand and use the Force....
This is not the dilution you are looking for....
Well, true. I don't want to see the dilution. But it is there, right in front of me, I can see it.
Companies usually deliver bad news on Friday AH, has the least impact on the stock price. Can't trade it for a couple of days and by Monday, they impact of the news may have softened. So yeah, I could see them releasing tomorrow AH. I imagine it would be because of bad news.
Typically, companies release good news, Tues/Wed Premarket because the impact on their stock will ride through the end of the week.
One thing to consider that I don't think was mentioned. Back "before" they switched accountants, the whole belief was that they had $9 M in revenue. Well, maybe they switched accountants and the accounting firm has realized the numbers were wrong. Maybe this is the delay, maybe the new accountants have done the books correctly and have determined they really have less than that in revenue. (much less)
But it is all okay because we have the WORD of an internet hero - the great and marvelous Wizard of TOG. Remember back in April how he said Everything was still on track? He talked to the company, cause he is the inside wizard and sees all, knows all, and hears all.... If you forgot see below:
Quote:
Tog4wrd Monday, 04/22/19 12:54:03 PM
Post # 28830 of 37838
Just got corporate update. Was told everything is still on track. Also noted a few things were getting ready to release. Ended conversation with everyone will be happy. Sounds good to me
Well, here we are. I think, IN MY OPINION, everything is on track how Tim and Chris and a few pumpers planned the scam. Promote and release passed earnings and push that out, but do not show how the company is in decline. OR do not show the real numbers for 2018, just use the "messed up" numbers from the old accountants. Once the 10K releases and the financials are crappy, they will reply - well, see thats why we got rid of those old accountants.
There is just too much dilution and shady business happening to really see anymore faith in this company. Even if they had a good year, we will never see the rocket to the moon. Hang on, we are taking a Fiat 500 ride with all the shareholders to Delaware, like a clown car. (Sorry Delaware, no offense, I realize you really don't want Tim/Chris there either.) Anyway, there is no moon launch here, it was filled with hot air, not rocket fuel.
I agree with you on the Pink POS. I seriously doubt this will go over .40-.50 . People lose faith in a stock when the company fails to deliver as expected, especially as HYPED as this ticker has been. When people see the dilution (which will not be posted in the 10K by the way, as this is the numbers and fins DUE on MAY 1 they are calculating) The quarter report should show the amount of dilution they have been doing. But we likely will not get the quarter report until next year, or when they have diluted this down to .0001 and no bid.
Going back to PPS after the magical release of the 10K - too many people want out. They will be selling for less than what they purchased for just in hopes of minimizing losses, especially as this reaches .40-.50. I have take a loss and sold as it plummeted down from .50, .40, 30 and consider myself lucky.
Once people see the 10K and realize the diluted EPS and the negative EPS, this will not move much. I believe Tim and Chris both know how crappy things have been over the past year and the failed to release 10K was planned, not an accountant issue, vacation, etc. I mean - really how long does the dam accountant have for vacation ? Six weeks? They are running up to 2 months behind on the 10K and diluting an average now of 250-350K shares a day.....
Good luck getting this above .25-.30
If they were TRULY interested in paying of their debt, here would be the best solution:
Report your magically delicious 10K on time and release a series of PR's (like what was supposed to happening May). Stock price jumps to a meager $4. (pumpers anticipated $15-20) However, reality!
So take your $4 per share stock and then negotiate with the debtors, offering them enough shares to cover the value of the debt. If debtors agree, then release a PR giving notification that this will dilute the stock but provide an overall chance for the company to survive or make a profit. If you need funds to continue business operations, then release another PR stating that you are doing so.
Just diluting the stock to a tune of 180K -250K shares per day is just ridiculous.
Several possibilities
1.) The fins are not what people anticipate them to be and they need to dump as much shares as possible to get whatever funds they can. The way they have run this company and the way they do business, I would not put it past them to have someone post how great the financials are and then turn around to screw you over. Hence the delays in this all wonderful "to the moon" 10K. (and now Q).
2.) It was a scam from the beginning. They chose to screw everyone over from the beginning and got lucky with a pump to $2 and then it slowly dwindled. Notice since May 1, the daily average volume is ever increasing. This includes one day where the volume was 700,000 - basically 1/3 of the OS and this should have been skyrocketing. But no- not here, it was all dilution.
3.) T/C just don't give a crap. They will gladly take the shareholders money and run --- no matter how low it goes.