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If they get current and announce any or all of those deals are closed, I would think this would leave trips even with the overhang at 2 and what will more than likely be there at 3
Someone wasn't convinced that they will file or close those deals. Not surprised but was hoping that bid continue to grow instead of getting whacked
They are required to file 8Ks for material events but using Twitter for disclosure is more cost effective than traditional PR sources and they can control timing of release without paying a premium for timing.
That hundred million on the bed it's really positive to see. If any large shareholders wanted to get out, they would have taken advantage of that BID by now. Hopefully it continues to grow and pushes the buying at 2
Nice to see BID building again. We have had several large buys in the 2s last several weeks but nothing that spurred more buying. Looks like most are in wait and see mode for the update. However, if the BID keeps building, those that havent started a position or looking to add may start buying 2s in anticipation of positive announcement. I still think half or more od those 2s get pulled with any serious buying.
When looking at it cynically- this does look like it could easily be another orchestrated P&D. But look at the price/volume action where it bottomed out at 6 and then oscillated at 6-7. This simply could be long time holders/investors/watchers getting in once they feel the bloodshed has stopped. May not be news related at all. Doesnt take much for a few people establishing (reestablishing?) Decent sized positions to create some volume and get the rumor mills started that someone must mnow something. I have followed tbis stock for about 18 months and just got in at 6 when it bounced off and then recently bought more at 7 and 8. Im taking a longer term view though. Im not a flipper.
Doesnt matter what they file or how they file it - their fiduciary responsibility requires them to protect and enhance shareholder assets. If they willfully set the company/shell up to fail - it is actionable. That fiduciary responsibility is there specifically to counter "tortured language" in contracts, filings, etc. The big questions is would there be a shareholder with enough shares or financial backing to pursue them civilly...? It is a very small risk for the reward in moat OTC scams.
News is so monumental that $450 worth of stock has been traded on the news. They are registered tp go to the show. ANYONE can register to go to CES. Its a trade show open to the public. They do not have a booth. They did not name mobile partner. All they announced was they were going to go and show some companies their "updated" technologies. This says nothing about new deals let alone actual revenues coming from those deals. About the same message befofe the Qualcomm event. If this was their big news coming - it was a big nothingburger just like last several PRs.
Who is very methodically buying 900K shares at a time...?
Any real buying interest/surge and half those shares at 2 will probably be pulled and moved to 3. Nice open with that buy but will investors/traders folow suit? Unless something substantial is released, it will take more than 10MM shares for traders to think someone knows something and start speculating. But Im all for a good rumor moving this forward in the short term.
Hard to believe closing position last week between 12-14 was a "win" but there is nothing to keep this from continuing to drop without something concrete from Jan on bridge loan - especially with year end tax selling . Forget float. Only assets are land and while debt may be down-it is still enough to take out company without revenues or working capital.
Even with concrete news on bridge loan-there will be a sharp sell off affer initial spike for those that no longer trust him/company and juat waiting on a spike to get out. With all the new toxic debt opened while he was silent - just really difficult at best to believe him.
Looks like long termers were given a ride this year. Hopefully you get a better 2019 or hve gains elsewhere to use these losses.
They have several revenue streams (albeit small) that they didnt have prior but the mgmt/transparency hasnt much improved from two years ago. Why they spent the money to update 2016 but not 2017 numbers is suspect in hindsight. If the money was to be spent - should have updated both at same time. I thought it was a very positive sign and took them at face value that 2017 numbers would be filed shortly thereafter. Its a year later and once again they are two years behind. Hard to give them much benefit of the doubt. Takes very little time and no money to do regular sbareholder updates. Simply no excuse for not keeping us informed.
Noode - maybe lower, maybe higher. But there are hundreds of millions of shares that have chanved hands the last 30 days nd the majority of those will not be long term holders. Tht churn will cause crazy swings upon the announcement if it happens. Even at $0.003 - it still would be a much better entry point than $0.02-0.03 when the first loan attempt was announced.
If Jan came out with a statement directly to shareholders in conjunction with the release of 10Q I my have furthered the benefit of the doubt. But having long term shareholders waiting around to vet whacked around again by such a negative report just emphasizes the disconnect.
Hope it works out for those sticking around.
Agreed - No sense bashing. State the reasons the sentiment has changed and move on. If shareholders are being defrauded - different story. Here, communication, debt, OS, revenue streams - everything has fundamentally changed and none of it positive. They can close the loan nd everything changes but it looks like they are further now then they were after last shareholder update when first loan fell through. Shlt always happens but be transparent and keep shareholders informed - especially those that made it work to begin with. For me, the fundamentals changed to dramatically and it didnt make sense. For traders/speculators - they can play the swings. For long term investors, the road keeps getting longer and more uphill. Unless loan closes in the next 30 days or so - looks like company will have to increase AS just to meet conversions.
If they do get the loan - I will reevaluate then. More than likely, after initial news spike and sell off, one could still get in not far off of where we are today.
I posted awhile back the shareholders deserved to know specifics on the status of the notes and regular updates on the actual loan amounts left (npt calling the TA ad requesting updated OS - not the same). Also he was way late on the status update on 2nd lender. After that nd hia vague responses to emails, I switched from long term to waiting for MM spikes. Last one only got to 2 and i was expecting larger push and I was going to get out. After that report yesterday- I was done. Im out. Shareholders were taken for a ride. Even if he comes out with good news in couple days-he still fxcked the long term shareholders with all the diluton nd not being transprent on harvest/loan in real time.
Either he ia expecting the bridge loan to close quickly or keeping the doors open as long as possible to dump shares before going to the going BK.
Only goosld news - Short term lendsrs must be confident enough they will get paid in 6 months or stock will still be trading (AS has to be increased).
While I had already given up on this for the long term after he sent silent on second lender, it sure just looks like every other run of the mill penny scam right now.
Large BID at 15 vanished like a fart in the wind once 16s were absorbed. See if 14 holds or buyer pulls the BID
There is no guarantee that the buyer would break even let alone make a positive return on their investment. Both are taking risks-the buyer needs at least 50MM to be bought to break even. The seller risks future gains if the stock does trade aggressively again. This could very easily go bankrupt (its technically insolvent now) and the seller gets nothing. It could also go BR right after the transaction (or never have a volume surge) and buyer gets nothing.
However, max he makes selling at 1 is $20K. If he has a $100K gain elsewhere and $80K in losses here and that is the only loss available to him to offset that loss - it certainly makes sense to not pay 25-40% tax on $100k when he could only pay that amount on $20K. Assuming effective rate is 25% - that would be $25K on the $100K gain or $6250 on the $20K gain minus the $80K offset. With the $5K on the proceeds of the 200MM he is up around $19K on that scenario. After waiting 30 days for the Wash Rule, he could buy 200MM shares currently offered on the ASK at $0.0001 for $20K, have a new cost basis of $0.0001, and only be out less than a grand after commissions, trade fees, and difference. The only risk is the stock moves within those 30 days.
It appears you are viewing this under the assumption that the PPS will eventually go up and/or some intrinsic value will be realized. The company almost no verifiable revenues in its history (reported officially), NO cash, very few assets, and could declare BR at any time. We are here because we believe reports of increasing revenues to be valid and that they will eventually go exponential. We also assume that would be followed by a swift demand for shares driving up the PPS. Right now, it's a crap shoot at best. While I was very positive early this year when they committed to getting current and then filed 2016, There is no good/positive reason for not getting current on 2017 let alone current altogether. Cash is usually king but not a good sign to commit like that and not follow through. However, even so, I think there would be several pushes prior on the stock to create openings for insiders/MMs to get out making it a suitable risk/reward on my part to offer $5K
Travis - that would be flat out wrong to suggest there would be no "honest" offers. Most brokers offer a "clearing" service for stocks that are dormant, NO bid, etc and the seller basically gets 0 in return. Shares are sold to a clearing house at $0.000001. TDA takes any proceeds on the sale as a facilitation payment/commission. One signs forms specifically agreeing to such prior. I've done it through TDA before on the ticket ENCO. I dont remember specifics but that was the basics. I needed the loss for the tax year. I got nothing out of the sale.
I would legitimately offer $0.000025 for all 200MM (if they were for sale). That would be $5K AND he unloads them and is able to claim a big loss if needed in the calendar year to offset gains elsewhere. That would be a win-win and completely legit for both parties as he obviously can't sell them on the open market. Certainly better than what he can do through broker and there is no option in the open market. Putting another 200MM on ASK at 1 Just makes the situation worse to actually create volume.
For the acquirer - it is a risk/reward play. If holding zero shares - your cost basis is 25% of even the best buyers on open market. Immediately put up 50MM share on the ASK to cover cost basis when (if) next volume surge wipes out ASK at 1 and then it is all house money. Smart play. The market/FEDS wont let individuals ply under 4 digits but MMs do it all the time. If he put a closed BID via email - he could find the real "market" value for those shares and then assess his own risk/reward relative to needing the tax loss or just to move on nd walk away with at least some cash.
So - this would be a very honest transaction and certainly better than he would receive through normal market channels.
I'm showing only $4-5K worth of stock on the ASK all the way up to $0.01. Talk about games.
Probably one of the most honest and legit posts you will read on any iHub board. Very, very few stocks in this realm have a snowball chance in hell in making it. Even when company/mgmt is legit. The market needs both short term traders and long term believers. PGUS has very little going for it until (IF IF IF) the development project legitimtely gets pff the ground. Company/Jan lost considerable credibility with the collapse of bridge loan and rampant dilution. Doesnt mean new lender wont come through but the benefit of the doubt is perishable.
10MM BID being slowly chewed up but one jumped on it immediately which is positive. Will take some churn to get thru 2s but depending on what is released by company - many of those may be quickly pulled off offer.
What is the dollar amount left to convert? If around 140MM shares were converted since November notes started and assuming around an avg price of around $0.001 - that would be around $140K pre discount. How much would be left?
Hundreds of millions does not appear to be accurate unless the price tanked to low trips for conversion/discount.
What was the debt amount coming due in November? When is next round due - July? Kind of lost track. Haven't been impressed with the communication or the SH runaround in this bridge loan. He used up a lot of goodwill equity in that pooch screw.
Those 4 and 5 zero trades are probably someone closing out a "dead stock" with their brokerage. I do not know what the limits are broker to broker or with the SEC/FINRAs when it comes to length of time it is dead dormant. However, if the stock is not trading, a broker can basically clearance the stock out. At that point, you get nothing but pay the transaction fee. These shares are then "wholesaled" to a 3rd party entity by a separate firm that buys them and then tries to find a market for them (private placement or sits on them until stock becomes active). Think of it like donating an old car or boat to a charity for a write off. That Charity has someone that gives them a couple hundred or thousand for the item and then takes it to the auction, a private party, or fixes it up themselves. The third party very, very rarely "overpays" for the securities but they do have risk in trying to find a market for them.
I had this done through TDAmeritrade a number of years ago from a long term hold that I had that went bankrupt and it stopped trading. After 5 years, I called them and asked what I could do (as I needed the loss to offset the gains) and he explained the process. Again, I dont know what limits there are in terms of how long a stock has to be at no bid or dorman before a broker does this. However, it is a private transaction at that juncture for 3rd party (non insider / treasury shares) shares between two individuals that the brokerage facilitates at and agreed that upon price so there shouldn't be many restrictions on the brokers side. You tend to see these types of trades more at end of year for tax offsets. They really mean nothing to the overall trading.
The lack of follow thru on financials and lack of meaningful communication DOES have a material impact on trading (or lack thereof). Takes very little time to keep shareholders informed. At this price, negative news/updates can't even impact the stock so there is very little liability for company to be straightforward and honest on updates (good or bad) on ongoing with the company. Optics here are bad.
The OTC is littered with the remains of companies with great potential.
As far as assets - the company assets are grossly inflated due to the appraisal value of the two land sets being highly interpretative. The farm land is only valued as such and the resort property has limited real value UNTIL development begins in earnest. If that $45MM valuation was truly valid - there wouldn't be so many problems closing a bridge loan. Bankers obviously arent convinced the property is worth anything close to that (as is) for collateral purposes. None of this isn't to say we won't hear about closing in a week and everything immediately turns around. However, with the lack of transparency and candid dialogue discussing remaining debt left, general provisions on new loan slowing the closing, etc - again - it just looms like another OTC whitewash.
Unless one is convinced this loan will close within weeks - no reason to by now when conversions will tank this to probably 3 or under by then. Several hundred K coming due, price of $0.0008, 60% discount - just math at that point assuming impact of death spiral.
Unfortunately- those are the facts. I'm just glad I didn't buy as heavy as I was thinking of in the teens when I started buying again.
Wish I had your confidence. Seen too many of these OTC stories to believe this one will be different. Once it hit trips-going to be a fast fall to no bid. "Update" today provided no real update on the financial side other than the truckloads of peppers. No update on status of the loan or how many $ of debt left in current round. If deal isnt done prior to next round, 1.25BB AS wont be enough and they will be forced to move that to probably 5BB minimum. I'd expect to see a pre14c any day now.
I dumped my 15MM today. Saw the large sells at 2 today escalating after the systematic hits over last week. I bought at 2 A while back so I'm even minus trading fees.
With heavy volume and ZERO follow up on QCOM summit /OEM relationships, I'm wasnt willing to wait any longer to see if this time was going to be different. If I'm correct and it tanks back to 1, I might buy back in.
I think between them they controlled 60-70MM shares. The sellers seem to be consistently selling since they passed. The heavy selling started in high teens or low 20s. Assuming they avg around 9-10 cents across that time - that is $9-$10MM. If the estate is contested, they may be liquidating for cash value. Who knows. Clearly the sellers are NOT Interested in long term potential or maximizing SP sells. It remains a liquidation.
Current Q once again shows a ridiculously bloated SG&A line that is largely traced back to the bloated overhead in mgmt.
This could easily hit trips tomorrow if it trades like it did today.
Last update provided nothing of real value for investors. They have no more information to balance risk then they did before the release.
How many times have posters declared a bottom or dilution is over? Stock still getting hammered by it.
Tax loss selling...? Have you looked at the 5 year chart...?
The selling has gone on unabated for years . More than likely-from the Syrbnik estates.
I have often considered that question myself about raising the red flag unless they were legitimate. However, you will not find anything from the SEC on the investigation unless something is formally open and in the SEC is required to notify investors about a formal investigation. Even someone filing a personal complaint white or get nothing from the SEC other than that the complaint was received. They cannot comment any further because it would violate a open disclosure.
As far as going after finra or the market makers, the company simply does not have the legal resources to do so so. If the SEC were to launch a formal investigation and it look like there would be repercussions, attorneys would then come to the company to represent them to get a part of the future settlement. That is what any company would do. Judgment, settlement that is in favor of your case and the attorneys will come to you you and you will know not of the trial
That's not what the SEC says on the subject. Any search on their site shows a wealth of info on the subject, enforcement issues, and warnings for unsuspecting investors/traders
Another impressive OEM relationship for $FKWL but the company still is not interested in promoting itself. Released PR after 6 on a Friday
https://finance.yahoo.com/news/franklin-wireless-collaboration-qualcomm-220543873.html
ASK has adjusted back down. Not quite where it was at but in the same ballpark. Apparently an anomaly or this is being manipulated which doesn't appear to be the case.
By your statements on here - there is nothing to liquidate at MAXD so what is the risk on the downside? If appeal goes thru nd is lost and Google files to collect - they shut down. Simple.
No news I can find. Also bizarre to have it that wide and the ASK th that far away from normal an hour after open. One offer at $0.0618 for 16K and next is 14K at $0.104. Been consistently 6-7 offers of the same amount for weeks. Why were they all pulled prior to market opening where an oddball could bit at 0.12?
So is the volume coming from someone who is at the Qualcomm show or someone trying to make it look like there is a lot of buying interest? If so - that 60MM buy was rather convincing either way
2s arent exactly flying off the shelves just yet. However, will the offers for 2 on the ASK be pulled quickly once they do start moving or will there be even more added than current half a billion? I'm sure short term traders are trying to figure that one out before buying those 2s
Larger and more frequent blocks of 4 being taken. Looks like more are starting to believe this is going to move (whether or not they believe the company is legit)