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Meant subs*.
A lot more from there:
Other two subs are doing very well.
Most all litigation is closed/closing up.
Haven't issued any new shares in past five months.
R/S considerations are being reworked because SEC notified them that the R/S would put them below 600 shareholders affecting their public status.
David has been accruing more shares and has over $1m in the company.
Looking at roughly 5 subs per day.
Informed me to call back Monday do more specifics regarding audits and the R/S.
Working on it bud. :)
I was told the next 8-k will be about litigation and disclosure. Since revenues have dropped from the subs being cut they are now required to release smaller income flows.
Looking very deeply into a $12m company from New Orleans.
Audits are being quoted by auditors and then will begin finishing up. David said the process will be much quicker since two audits will now be processed materially due to their absence. I asked if we'd see them before EOY, and he laughed and claimed that he sure hoped so. He expects them MUCH sooner than that.
Just spoke to David for 40 minutes. Said to inform everyone he is available all day today.
Truthfully we lose more than half as it stands. The integrity of our revenues will depend on how steadfast David's acquisition plan is for replacing some of the lost funds.
He seeks to have the subsidiaries buy their way out effectively, which will no doubt bring its own red tape and needed timeframe.
We play a game of patience and resolve at this point. ForReal brings some very good points to the table, and I am in the process of contacting him so I can develop a better and more concise understanding of our current situation.
Sharing some Sinatra renditions, no doubt. :)
I left him a voicemail earlier today for him to call me when he gets a chance. God knows what Aidy has left. Hopefully he'll reach out.
A New York number?
The silence before the storm.
Well, hopefully he'll return one of our calls. About all we can do at this point.
Smith is under litigation currently. David told me they were considering pushing both out in favor of acquiring others instead.
Well, with our two largest subs removed we'll be pulling considerably less revenues until some acquisitions get put into play.
Think so bud?
Gotta love that Christmas spirit.
What's the game plan if he says "--- came up. They'll be out first thing next week"?
The number you have is a work cell. I chatted with him on that line while he was driving to the airport one time.
Left a voicemail.
Audit dates would bring with it a run I wager. You could exit when the anticipation builds.
I assume we're waiting on an audit date? He told me on the phone we'd have one by the 14th. So in typical David fashion I expect it next week or so.
Right? I've still got them stowed away.
I agree. He caught this company back up to date in 2015 -- he'll do it again. When, is the question.
Agreed.
I'll be picking some more up tomorrow to add to the pile.
I'll also give Frack a ring mid-next week to make sure he's still anticipating we'll be on schedule for EOM. I don't want any unforeseen delays mucking up expectations.
From what I understand most if not all has been tackled.
I'm very curious what this news will be. Anything short of audit dates or a buy out won't touch the numbers I've seen posted recently, IMO. Or a buyback, but I know they don't have the capital available.
A new CFO or acquisition is my guess on the 8-Ks, and the share structure/buying sentiments don't seem to support those in a massive run.
My perspective on a near-term run only. I've been wrong before and I'll be wrong again.
If we see nothing this week, I'll give him another ring next week. I'll have a lot of downtime in a hotel to catch up with him.
Hope so bud. Best of luck to you and everyone on the board. I'm out for the night.
Same. Realistically, I'll probably sell sometime post audits and rebut after the split unless I have reason to believe it's being put off down the road.
P/E puts us at $0.0017
Marked to market (and factoring in share dilution) we're put at $0.0025
Both of these numbers assume audits are dropped. The past few rallies have went to the equivalent of around $0.0003-$0.0005 when assuming the PPS differential pre-dilution.
Adding in shareholder sentiment and many people's willingness to exit, I expect 2's or 3's personally.
Strong number. Do you think 8-k's and an audit date will rally people that strongly?
One of many I hope!
"next weeks"
It's like G&L said. He caught us up to date last year; maybe he can do it again.
I expect a weaker run this round due to recent sentiment. Should he follow through with audits though, the gates will open.
I appreciate it man. Hopefully this'll turn out for us yet.
Learn anything new for us bud?
Transferred some funds over today to buy some more and then this happened. Not that I'm complaining!
I'm not making excuses for him. We both know the 8-k's or an audit date may not come, but I am saying that were he sticking to his word it would be better to expect them early next week.
As I said, I'm orchestrating another phone call so I can attempt to verify more for us.
He didn't. I'll ask when I next speak to him. I'm setting up a follow-up call to address everyone's questions.
We have some weakened faith in David that'll have to be bought out. The only short-term run I see is the anticipation from an audit date should he give us one.
Now, once those drop, the sky is the limit.
JUST SPOKE TO FRACK
The holdup is some documentation from Mr. Lee, yes?
-Yes, we're waiting on the final two quarterlies to be sent my way. They have to be filed in China and in the US and it's my job to do the American side. Honestly, I've been putting pressure on them, because I've never had late filings on any of my companies and I frankly quite hate it.
Could we expect those filings by the end of this month?
-Oh yes. Definitely.
Now, from what I understand, they're done on the China side and he's awaiting them to be sent his way. Was very confident we would have them this month.