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You are suggesting that a shareholder vote is a prerequisite for a buyback? This is not correct. The corporate action required is authorization by BBRW's board of directors, which was obtained and announced previously (easy because the board has one member, Jef Lewis). Although I personally think that BBRW and all public cos should 8-k all PRs as a matter of course, a PR does suffice in terms of notification as I understand SEC buyback regs.
SoS approval for the buyback is a different matter and they would presumably need to show more recent (and better) financial information than the last 10-Q in order to be approved. I am not aware (perhaps you are) of when any SoS applications/approvals would become accessible to the public. I do not believe that BBRW is obligated to update the public on that level of play-by-play, and if I were them I wouldn't, because it would potentially drive up PPS and limit the number of shares that could be repurchased.
Agree with all of this, good summary. Also think it's a no brainer buy/hold here.
84 million more shares of BBRW bought than sold so far today (489 mil total volume). Heading into today, 30-day average volume was 71 million shares.
Seems like a lot of people had the same idea as you!
You weren't joking. Sliced through the .0082s and .0083s as I typed this!
Lots of buying in the high 007s/low 008s as we churn here. Seems like a good foundation for the next leg up.
Agreed. Seems like this will take off if Filecoin keeps getting more network participation before the mainnet launch, which appears likely. Share structure of QEBR is materially the same as when it had its spikes over the last couple of years (O/S is up ~10% since their Dec. 2017 filing, very reasonable).
What’d you think of the response he gave regarding Lave?
Based on this post from one of BBRW's welders yesterday, it appears that they are up and running.
https://www.instagram.com/p/CEat6ffHKLe/
I think that conclusion is premature. That said, it's hard to argue with you too strenuously when today's volume was 42.
My unscientific Twitter analysis suggests a critical mass of shareholders who (whether based on logic or Stockholm Syndrome) believe that XLTD will be *the* next big thing. We probably shouldn't expect to pull a grand per share here, but the combination of hype and low O/S could still pop this thing up to high double/low triple digits, it would seem. All bets are off if these guys let rip a substantive update.
When .0042 has moved to inside ask last couple times, there have been ~5.7mil shares on ask at that price with at least three MMs having >1 mil shares each. Point being I think it's just market forces, with a variety of participants and motivations selling at that level.
I'm OK with the absence of huge runs before there is real news to sustain PPS increases. IMO that sets a better foundation for a real jump if BBRW does in fact come through on buyback/accretive offering/realization of material revenues/etc. Although I am not complaining about seeing some green days in the meantime.
10 million shares on the bid at .0035 not getting filled (so far). Interested to see if people slide the bid up. Might be moot point if morning pop fades. Either way bodes well for volume.
Yeah anything leading back to Optemptus seems like bad news.
A while ago someone posted information about the (three, I believe) distribution partners/channels that BrewBilt has alluded to in PRs. Do you or does anyone recall that post or have related info? If my memory serves, those partnerships related to brewery (instead of CBD) equipment, but I could be mistaken.
Assuming it's a Scott Sand connection, does that invalidate any possible CBD revenues in your mind? I assume this affiliation would tie somehow be related to Lave Systems Corporation, the apparent SIML affiliate that appeared to be a related party to Jef Smith, but don't know that to be the case.
Please help me understand what you see in the charts.
Volume obviously tapered today but even with some apparent flipping there was buy support in the .005s, and the bid of .0052 for the whole day is now above what the ask was for the couple of weeks up until this recent volume spike (.0048-.0049).
I have not particular insight into what might be happening with this shell, but happy to watch it unfold. Also still hopeful this ticker catches some buzz/reflected glory from Resort Savers/Phoenix Rising due to common sponsor.
3x average volume and somebody seemed to want to ensure we closed >.90. $FIL futures have been trading with pretty high volume and pricing, above $21 for a couple days and above $23 for a while on Monday.
Still a lot of open questions, and I wish their quarterly filing included more meat about the various ventures they own. Would also love to hear updates on any participation their subsidiaries may have in the the "space race"/incentivized testing happening now. That said, excited to be in this stock and will try to load up additional shares if we dip back below ~.75 between now and Filecoin launch in Sept.
Fascinating situation. Right or wrong, there seems to be a broad expectation that a buyback will occur, which in turn is sustaining buying interest and seems to have created a floor in the .003s. With average/below-average volume the last couple of days, BBRW has been roughly flat or down a tick in the case of yesterday. All in all, just seems to be behaving more like a "normal" stock, whatever that means on the OTC.
The dream scenario for BBRW/shareholders would be to receive state approval for the buyback based on post-Q2 financial performance, execute that in Sept (or Sept-Dec, depending on how you heard that line of the the podcast), and subsequently execute the new issuance. In an ideal world, the 1-A was filed with certain specific new investor(s) already targeted, but that remains to be seen. This path for this scenario has narrowed, both from a difficulty of execution standpoint, as well as from the standpoint of continuing to believe that BBRW mgmt intends to make good on stated goals.
The BGREEN payment is still confusing to me, not in the least because I cannot understand the recording of the full $4M as an expense in Q2. My fear is that the payment via issuance of preferred shares was another "cost" of the merger, and will not result in specific new revenues nor other material value to BBRW. That would (I think, not an accountant) jive with the decision not to amortize it over some longer period.
I continue to think that BBRW needs some significant, substantiated news to kick into sustained copper territory. That said, it's been somewhat surprising to see the support around these levels and if nothing else, will continue to be an interesting ticker to own/watch.
I think ETRF is usually retail.
Exciting stuff — interested you see if it continues this week!
Devil’s advocate here, last Friday was massive volume and Wed/Thur were both above 100 mil shares traded. So I would say we’re in day 5 unless the clock resets over the weekend.
I agree. Will just take some patience here. Thanks and enjoy your weekend.
I'm more alarmed (as in very alarmed) at the $4M consulting fee. Looks like it's substantially a Q2 expense (although they make that difficult to suss out).
Neither this Q nor market reaction thereto (so far) have been what I expected.
It would be permissible (albeit personally disappointing) for BBRW to file after market close, so I honestly don't think things would deteriorate that much. If they file a notice of delayed filing after market close or just straight up don't file anything, then one would have to assume that Monday would be a bloodbath.
Thanks for this, agree with your commentary.
Are any of those losses realized? Not saying it's a sure thing or that it'll happen overnight, but I absolutely believe there's a path for you to come out ahead here (against your ~1.5 cent/sh basis if I recall correctly).
A loss is not a loss until it's realized. In the event that you don't agree with that statement, that's fine, just please don't tell my wife.
This seems realistic to me also.
~$250-400k but there is variation based on size and other options.
Based on their comments on the podcast, there's not a production line per se but instead an apportionment of space on the shop floor. I think that based on the size and amount of time to build, they're not moving them down the line like one would see at a car factory.
As another posted said, many posts on here have tracked down customers. There are numerous posts from the company and their customers on social media, and I find them to be credible. In particular, the user fab_motors on instagram appears to be a contract welder for them and he has posted a lot of in-progress pics.
There are legitimate concerns to have about this company, but I think that even the most critical (of BBRW) posters here would acknowledge that this is a real business manufacturing a real product.
200M+ volume in first 70 minutes of trading today. Wow.
Looks like we'll hit 200 mil volume comfortably before 11AM. A decent 10-Q feels like it'll just blow the doors off at this point.
Not seeing any text besides the title and there doesn’t appear to be a video loaded up. Am I missing something? Are others able to play the vid?
Thanks. I share some of your concerns and general unease with the overall premise of an offering. If the Q is solid (subjective, I know), I’d start viewing the offering in a much more favorable light. Basically I would view it as the difference between using proceeds to supercharge a growing performance trajectory versus last-ditch capital raise to forestall circling down the drain.
Suffice it to say, there’s a lot riding in this Q!
Makes sense to me!
Not sure about the reporting requirements. Based on what they’re saying on Twitter, it does seem like that the offering will be targeted to bigger investors.
I love the confidence! $5m rev would be ~10x their previous best year on a run rate basis. If that doesn't bring back some credibility/interest, can't imagine what would. I would consider $1M a huge win for rev in Q2. That wouldn't fully live up to the rev growth potential they've expressed publicly, but would still be a huge step in the right direction.
My interpretation is yes. They would all be common shares.
My prediction is that a decent/strong 10-Q causes this to take off. That would lend credibility to BrewBilt's explanation for the 1-A, and with performance expectations seemingly so low and a lot of apparent accumulation having occurred, it seems that a big spike (high single digit cents) with stabilization somewhere north of a cent could be realistic.
Of course, prerequisite for all that is a strong Q. If it's anything like the last 10-Q, PPS probably craters, at least temporarily.
Right now we know about three new borrowings (convertible notes) entered into in Q2 from the subsequent events section of the last Q. I'll be checking to see if there are new borrowings, in addition to looking at revenue, margins/expense control improvement (gross margin improvement was a bright spot in Q1), earnings in excess of billings, A/R, etc. I expect that the O/S will have gone up since the last update, but will also looking to confirm that new shares have solely been from note conversions and that the related derivative liability is proportionally lower on the B/S.
Put simply, these guys show decent revenue and no obvious landmines elsewhere, and I think we launch.
The directors/officers are permitted to sell the shares directly. This does not mean that they will be selling their own shares, and it is misleading to present it as such (they do not "want out" by virtue of this filing). Any shares sold will be newly issued, not from the personal holdings of Messrs. Lewis or Berry.
I honestly thought this offering notice would scare people off. PPS is holding nicely although volume seems to be trickling down again. Seems like folks are generally reserving judgment until they file the Q, which is the boat I'm in for sure.
Let's see that Q!
Slow day is one thing - this feels like suspended animation!