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That will be a mistake....
1,000%
First, this isn't a loan. It's a direct investment.
Second, At the time the deal was struck the discount for the $3.1 million tranche purchase was 30% with shares that will not be available until a registration statement goes effective by the SEC which can be 45-90 days.
I'm sure anyone investing that much capital without the ability to liquidate and take that much risk would think a 30% haircut is very fair.
These institutional investors are not loan sharks and rarely lose.
Who says they aren't planning to do the exact same thing already?
The shell risk will come off with these 3rd quarter financials.
No, not at all.
The derivative liability is measured between a notes conversion price and the current share price. You calculate the difference then multiply by the amount of shares it would take to satisfy the note. (Debt to equity conversion.)
These notes were issued out of the money back when the company was sub-penny. However, now that the stock is up, way up, it creates a "paper" liability that is recorded as a loss.
Funny thing is if the stock were trading at .04 cents, they would have no derivative liability other than the face value of the note. If the stock were trading at .60 cents, the loss would be twice as much.
I can't give a definitive date. I would assume son after we see some news on the private placement officially closing.
Uhmmm.....
GMER was trading at .009 cents in January, .0175 cents in May, and .75 cents in July.
Stocks go up and stocks go down. However, it's not where you're at in the race, it's where you cross the finish line that counts.
This company, its management and the NFT game are far from being a POS.
I think things are looking very good!
Well, considering this stock was trading at .009 in January, I would say they nailed increasing shareholder value.
We shouldn't be fixated on .15 cents. It actually averages out to .175 cents which represents a 30% haircut to market. The institutional investor buffers his risk with the discount, since he is a long term investor, has locked in a price (the risk) and will not have shares for a couple of months, which puts his group at risk regardless of how great we think this company is.
With these funds, we should expect some very strategic and stratospheric marketing to take place.
Honestly, over the few couple of weeks, I don't think anyone will be complaining.
I didn't understand a word of your statement
No, the company hasn't announced the issuance of a new class of shares.
These warrants convert into shares of common stock.
They can exercise immediately but the shares will be restricted until registered with the SEC through a registration statement.
No, it was completed by an institution all at one time using NY investment bankers HC Wainwright & Co. as the placement agent.
There is no bandaid being ripped off.
This is a positive plain and simple. No different than when TRLY did a direct investment at $4 when the stock was trading at $6. The institutions came in, did a direct investment and the stock eventually hit $75
People are so traumatized by dilution toxic financing that they automatically think the worse instead of evaluating the facts.
This is not a "financing"
It's a direct investment by institutional investors.
Big difference!
Bingo!
They do, but there is nothing better than allowing institutes to come in and invest in your company.
No different than when "whales" start to accumulate a specific cryptocurrency.
Plus, HC Wainright specializes in uplisting companies to NASDAQ. So there is a more strategic long term play going on here.
This is how institutions make money. They invest early and wait for the company to hit its goals.
First, it's an average of .175 cents between the common and the warrant, and the shares are restricted until after they go through an SEC registration statement. Although, institutions normally hold for the long term. Anytime you have institutional investors making an investment, it's a positive.
Yea, institutions coming in and investing $3 million in the company is always a good reason for the stock to go down.
Market makers will pay tomorrow.....
New video out by Fluxty.....
Just saw this posted on another site...
Looks like the are attracting the right attention...
https://pennystocks.com/featured/2021/10/29/hot-esports-penny-stocks-to-watch-facebook-metaverse-news/
Yes, their 3Q should be posted before Nov. 14th.
Find it interesting that CDEL, GTSM and now NITE have all reflected the same 43,280 order on the offer at different prices this morning.
The NFT market has already surpassed over 10 billion in sales this year. There is a link to the article posted in the GMER information box above.
This company has no toxic notes and does not suffer from dilution. Float has remained relatively unchanged for months.
There is no "dump."
These MM's will never learn....
Helps to have a company run by management with a proven track record of success. On the operational side, they obviously make very strategic moves with everything they do.
When people state opinions as facts that's called deception.
When people ignore the facts and continue to disseminate misinformation that's called deception.
We are astute investors and know better.
Trust is something that is earned not given.
When a person goes out of their way to spread blatant misinformation they will never earn anyone's trust.
Last time the were forced to cover the stock went from .28 to .34 to .75 cents.
Stop with the misinformation and fabrication. As an OTCQB company with fully audited Financials everyone can easily tell the difference between facts and fiction.
Referring to this CEO as a "sicko" and implying he would steal assets with zero basis of fact,, really doesn't create any credibility when he has a proven track record of success spanning over decades.
There is nothing disturbing regarding David Dorwarts resume.
If the best you can do is pull up a small civil suit on a company that does over $140 million a year in business....
Well, that's some serious weak sauce!
No walls on the offer. Looks like MM's are second guessing themselves. If we can keep the day traders out we could see some nice appreciation.
Hahaha....
Their numbers are fully audited so there is no hidden interest in the derivatives. Derivatives are created under the Sarbane Oxley Act of 2002 and are in plain sight.
The Preferred you refer to has been eliminated, which is why there hasn't been any dilution. Duh!
Companies that are "bleeding" shares suffer massive dilution.
Please show me this phantom dilution that is being claimed. It's been 5 months and the float is relatively the same. Fact!
They aren't a shell, OTC Markets gave them a "shell designation" while they were in their incubation period. Big difference. That shell designation will come off as soon as they file their next 10-Q.
And no, the CEO cannot do WTF he wants. He reports to the board of directors. Nor, can he sign a deal to "sell debt" in order to exchange past debt for preferred. There is a checks and balance system filled with liability for the transfer agent, clearing firm, brokerage firm, the SEC attorneys that would write legal opinion, auditing firm, and the company itself, so that jibberish is a complete made up fabrication.
This is a fully reporting company that reports to the SEC and FINRA. They use the best SEC counsel and auditors. Shareholders should take comfort in knowing that this company does everything by the rules and guidelines set forth by the SEC and does things right.
The fact that they increased their transparency by spending the money and qualifying as an OTCQB company says it all.
There will always be those with an agenda.
Beat them with facts long enough and they will eventually leave with their tail tucked between their legs.