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Be that as it may, no one should be swayed.
Could the deal be dead? Yeah, I guess it could be.
Could the deal be in the process of getting 1,000 times better? Yeah, that's possible too.
One way or another I'd be very surprised if we don't hear something this week.
This board is exhausting lol.
All you need to know, folks, is that no one knows anything until we hear something. Outside of an official PR or filing by PCTL, everything being spoken about, guessed at, assumed, etc; positive or negative, is 100% speculation.
It's like playing handball against the curtains.
Incorrect.
What he said.
What I perceive or what you perceive as material or important is irrelevant. It's what the SEC and their guidelines for filing have mandated that matter. That's literally all that matters. We can argue over what we think is important all day long, if it's not defined as such, it doesn't matter what either of us *think* is material.
Sale of 51% of the company is indeed a material event..... when it happens. If it hasn't happened, it's not an event. Talking about it is not a material event.
If the deal didn't/doesn't go through they don't have to update because nothing has happened. The company is still in the same position now as it was a month ago and nothing has changed. No event has transpired. They could slip it into their (late) 10Q like they did the last time.
If the deal does go through, they have 4 days from the event (i.e. the closing) to file an 8K. They are not required or obligated to file an 8K anytime before that.
This is incorrect.
the extension date is not considered a material event because it is not definitive, nor is the extension date set in stone because for the 1,000th time it is explicitly stated that the date is not set in stone and that another date may be decided upon by the parties involved.
This is exactly correct.
99% of people who buy OTC stocks are not serious long-term investors. They want to buy low, catch a run, and sell for a profit. And any halfway decent CEO of an OTC company knows that.
Jeff Bezos cares about the share price of Amazon today. He should.
Jody Read does not care about the share price of PCTL today. Nor should he.
That's not a knock on Jody or anyone at PCTL. OF course they broadly *care* about it- a rising stock price is good. But it's just not a priority. OTC stocks are volatile and they should know that. If the price pops up a few pennies here and there, great. If it goes down, oh well. The company needs to focus on doing what's best for the company which, if properly executed, will benefit shareholders as well in the long run.
Flash-forward a few years and they can start being concerned with the day to day share price. It just isn't and shouldn't be a top priority now. Not when they have other things going on.
One caveat to that is that a healthy stock price can be seen as a good indicator of the company's financial potential... but that's not incredibly likely to be the case with an OTC stock as any halfway decent financier knows what the deal is.
An 8K would not be mandatory if the LOI was extended because the LOI already states that the dates are not set in stone and subject to whatever date is mutually agreed upon by the parties involved.
The only way an 8K is mandatory is if a definitive material agreement is entered into. If and when that happens, an 8K is required within 4 days of the event.
In other words, the only way they 100% have to file an 8K is if a deal is definitively reached and papers are signed. Once a deal is official (as in legally binding, papers signed, no backsies) then they have 4 days to file.
Technically they would not have to let us know if the deal fell through via an 8K.
::shrug::
Folks bored on a long weekend I guess.
Anything is possible really. It’s a gamble. All OTC is to some degree or another.
Still incorrect.
There was not an extension put on the expected 8K. There was an extension put on the LOI. These are two different things. The extension date is not binding and the expected completion dates are not binding. The dates for completion are subject to whatever date is agreed upon by the parties involved.
They're late on their 10Q. No way of getting around that. They'll file it late. They'll pay a fine. Like 1,000 other companies.
You want stability? Get off the OTC lol.
Everything is a gamble in the OTC. It is what it is, bud.
Incorrect.
The release of the first 8K was voluntary as it was simply an update to shareholders. No material agreement was entered into. They did not have to file the fist 8K which informed us of the LOI. The LOI is not a contract or material agreement. It's a note that says "hey, we're talking about this" and they chose to update shareholders. As a result, PCTL is not obligated or required to update anyone on the progress of the discussions, good or bad.
If they are extending discussions beyond the date listed in the extension, they are not obligated or required to inform anyone. Why? Because they've already laid out the ability to do so by stating that the dates are subject to whatever date both parties agree to. And since they're not under any requirement or obligation to file the 8K until a deal is completed, they're not under any obligation or requirement to release updates.
If the deal doesn't/didn't go through, they're not obligated or required to file an 8K stating that. The deal could have been off weeks ago and they can choose to never release an update on that if they choose. I doubt they would, but they could.
IF they enter into a material agreement, then yes, they do have to file an 8K stating so within 4 days of that event. Which means the deal could be done today and they can file on Tuesday, etc.
So yes, IF the deal goes through- as in they enter into an agreement that is legally binding, sign the papers, etc- then yes, they do have to inform shareholders within 4 days of that event. But that is 4 days from the time the deal is done, not from any other time period.
In fairness, this doesn't necessarily mean anything. They've checked that box on several previous filings. It's not unusual.
I have free time today lol. But not for much longer
You need to learn how to read these filings.
The extension is a formality. It doesn't mean anything. The dates are not set in stone.
It's all in there.
This isn't hard. There are plenty of fine books and websites out there where you can learn from.
The yield sign on OTC Markets doesn't mean anything. OTC Markets is a website. They're a business. They're not the SEC. They can create a sign in the shape of a pineapple and put it up next to a stock tomorrow if they want to. It doesn't mean anything.
We might see a drop in price on Tuesday. We may see a drop in price on Wednesday. We might see a drop in price on December 3rd of 2020.
This has been a partial list of days in which the volatile price of a volatile stock in a volatile market might go down.
Sorry, I don't mean to be glib but that's the reality of it. News and momentum will drive the stock and that's what everyone is holding on for.
Bottom line: the fact that this stock is up 900% over the last month or so and is still holding at a high level (relatively of course) even if it has pulled back from recent highs is telling. It says a large % of shareholders are holding.
We'll see what happens next. Yes, the price will go down as time drags on.
It is what it is.
That's the first correct thing you've said in weeks.
No. We don't know. We're all speculating.
Welcome to the OTC.
Just to allay fears:
No doubt.
Nah, I doubt it. I mean, anything is possible I guess but if that were true we'd see insider buying happening and that requires its own filing with the SEC and we'd see that happening. And if that happened, we'd see the price rise because everyone would start drawing that same conclusion: "something big is happening so the insiders are buying up more for themselves!"
They're not really doing anything that's terribly unusual for any company, and not at ALL unusual for a small cap OTC company.
The merger- that will be done if and when it's done. Not before. Not on our timetable. There are no hard expiration dates on that one. The LOI was extended but that doesn't really mean anything. They can keep talking and negotiating for 6 months if they want to. Now I doubt they WANT to keep talking that long without moving forward but the point is: they can. And they're not under any obligation to release news or updates or complete any deal by any day.
The 10Q - yeah, they're late in filing. That sucks. They'll probably get a fine from the SEC for it. But 1,000 other companies are late on filing their 10Q and get fines. It's not super surprising nor is it unusual for any company, especially OTC.
Plenty of companies, even and especially small cap OTC companies, go months upon months without an news or PR or filings. This isn't unusual. It's frustrating for us, sure. But not unusual.
All signs point to good, if not great Q2 revenues. There's important things coming up in September and October even if the Ontario deal doesn't go through. And if the deal does go through, even better.
It's a process. Just gotta wait it out.
What's Jody's email address?
nah
What type of bird? A newsbird or the elusive filebird?
A lot of people holding. Not a lot of selling. Tightly held shares in the hands of the holders.
Yeah I can't complain or be too greedy I guess.
Was hoping for .50 by then but oh well
Better not take that long to hit .07 lol.
I have always been of the opinion that the quarterlies weren't the important part we're filing. We SHOULD expect the revenue to increase just based on what we know to have occurred. The only question is by how much.
I'm as bothered by anyone that they're so late in reporting it but it is what it is. Just have to wait for everything.
Then you wait until there are.
The problem is, in my humble opinion, that if the filings hit and they're good (i.e. what we expect, or better) then you'll be chasing.
I would have gotten back in on the .014's that we hit yesterday. But it's a gamble, right? If things go the way we want/hope then even now is a great entry point because the sky is the limit!
Of course, if the filings hit and they're not good, or if the deal gets called off, etc... then it's not good lol.
But there's still a lot in the pipeline for this company over the next two months even without the deal that I think is pretty positive so I'm holding long for now with my 330K shares.
Taking profits is never a bad thing. But with the potential on this one, I think many of us would have taken at least some of those profits and re-entered on the dips.
Just sayin'
But money in the bank is money in the bank, bro.
Perfect re-entry points sub .02's this week.
More than happy to be proven wrong, my friend. I just don't see anything substantial happening without, well, anything substantial happening.
I do know the techs. But we don't have a catalyst of any kind. Yeah, RSI is in a good position and yeah, some people might not want to go into the 3-day weekend without shares but volume was low yesterday. I'll expect it to be low today as well without a reason for buying.
Yawn. 'Nother slow day 'round here 'till the filings drop, folks. We're in a holding pattern same as we ever were without a catalyst. Me? I'll be buyin' dips 'till our team lets us know what the deal is.
GLTA. Not worried or 'scurred.