Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Wow, someone clearly has NO clue, and OBVIOUSLY has no clue about penny stocks before ProGreen - as I believe they have admitted.
There are SOOOOOOOooooo many easier ways for a CEO to screw investors and somehow suck money from them. Someone is waaaayyyy out of their element here, and really should stick to the big boards. Or better yet, stick to Fidelity or Vanguard mutual funds or something simple that you don't need to think about.
To suggest that Jan has gone through all the trouble that he has in order to pull one over on investors is absolutely ludicrous. Go trade any of the 90% of the rest of the OTC if that's what you think you bought in PGUS. Then you'll know what CRAP is, and you'll see how easy it is to screw people out of money if that's your intention. SMH.
Unbelievable. To be that inexperienced in the OTC, and yet STILL "recommend" or place that much of your "client's" funds in a penny stock - now THAT's irresponsible. This sounds to me like a little (actually a LOT) of misplaced or redirected guilt.
So Jan - spent the past three years strategically in Baja California, working with land owners to acquire the land, working with government agencies and contractors to submit the plans, working with the architects to prepare the first phase for Cielo Mar...
...investing and loaning millions of dollars from himself, family, investment company, AND buying over $200K in shares RETAIL off the open market.... and don't forget - EVERY share owned by the Telanders was purchased at MARKET price at close on the day they were purchased - YES, EVEN the preferred shares from February 2016 were purchased at MARKET price.
Check out the formula for conversion to commons shares for those Feb2016 subscriptions - that's right, 0.0033 is the price, and that was the closing price that day.
Open market purchases? Yes, Jan bought tons of shares from subj-penny to 2 and a half cents - about twenty times today's price.
And the company still owes him more than 3/4 million dollars from those loans.
And this is some elaborate plan to screw "investors." Um, ok.
Okay, done with my rant. Sometimes it's just not easy to sit back and take a deep breath through all the BS that gets thrown around. But, like a LOT of other longs here, I'm usually okay with just keeping quiet while the rest run their dirty (keyboards and touchscreens).
EXIT Realty Newsletter out yesterday - Cielo Mar highlighted on page 10.
Looks like EXIT Southeast just got a lot bigger! Now they have all of Florida in addition to Georgia, Tennessee and Kentucky. That's a lot of new franchises that they have more direct access to now.
Yesterday's tweet:
https://twitter.com/exit_southeast
That tweet links to their blog where they posted their latest newsletter.
https://exitsoutheast.com/exit-florida-regional-directors-nbj-best-in-biz-latest-newsletter/
http://exitsoutheast.com/wp-content/uploads/2019/03/EXIT-Southeast-FEB-2019-NEWSLETTER-.pdf
In the newsletter on page 10 is:
http://exitsoutheast.com/wp-content/uploads/2019/03/EXIT-Southeast-FEB-2019-NEWSLETTER-.pdf
I didn't notice any other mention of Cielo Mar in the newsletter, so it looks like they are just reminding the agents that the launch is coming. Good stuff!!
FAKE news-NO NEW NOTES converting in March
I understand your frustration with the current pps, as I've been invested in ProGreen quite a bit longer than you, since it was still PGEI. Not just me, but many other longs that are not posting but just sitting back and taking advantage of the discount pricing over the past several months. Not sure how you're helping the 70M shares you say you have bought (for your "clients") by trash talking Jan/ProGreen, but I see you've been talking about how you're making some gains by flipping a few mil here and there.
But you should understand how convertibles work. There are NO NEW NOTES coming up in March. They don't convert when the loans mature, they convert after 6 months (actually, 180 days) - 12 months for non- SEC reporting companies. ProGreen reports to the SEC and is current and so note holders convert at 6 months from the funding date. Look it up.
The last convertible note ProGreen took on was Bellridge on June 14, 2018. That note was eligible for converting in December. Any action seen from dilutive market makers is whatever is left over from other notes. I repeat, there is NOTHING new coming in March. Look it up. Anyone whose traded penny stocks - and knows anything about convertible debt - will tell you the same.
Those note holders are not going to sit there and hold the notes when they can convert and sell the shares. Don't believe me, just read any one of the note agreements - they are ALL available in 8Ks or 10Qs/Ks. Here's the link for the Bellridge note: https://www.otcmarkets.com/filing/html?id=12821942&guid=ePbtUH7fqcuzrth
There may be one exception as far as note holders not selling they're shares - it seems that Tangiers converted and held a sizable position, about 75M shares. But we go back a ways with Tangiers, they've been a funding "partner" and even recently made a PP of $50k (if you read the fins, you'll know this). They could have sold since then, but I'm not so sure. If THEY are holding 75M shares, that means something.
Everything in these agreements refers back to SEC Rule 144, and you can look up Rule 144 to learn all about that the 6 months for SEC-reporting, 12 months for non-SEC reporting. Just try Google, it's easy.
From the 10Q period ended July 31, 2018:
Note 9. Financing Agreement and Convertible Debentures
During the quarter ended July 31, 2018 the Company issued three unsecured convertible notes payable in a total amount of $467,707 in cash, with original issue discounts and debt issuance costs totaling $30,878, interest rates of 12% per annum and due dates ranging from November 22, 2018 to June 14, 2019. The Holders shall have the right, in their sole and absolute discretion, at various dates to convert all or any part of the outstanding amount due under the Notes into fully paid and nonassessable shares of Common Stock. The conversion prices range from 55% to 65% multiplied by the average of the two lowest trading prices of the common stock during the 20 trading day period on two convertible notes and 15 trading day period on one convertible note, ending on the latest complete Trading Day prior to the conversion. The Company may prepay the amounts outstanding to the holders at any time up to the 180th day from issuance date.
From the 10Q period ended October 31, 2018:
Note 10. Financing Agreement and Convertible Debentures
During the six months ended October 31, 2018 the Company issued three unsecured convertible notes payable in a total amount of $467,707 (NO additional notes since the previous Q) in cash, with original issue discounts and debt issuance costs totaling $30,878, interest rates of 12% per annum and due dates ranging from November 22, 2018 to June 14, 2019. The Holders shall have the right, in their sole and absolute discretion, at various dates to convert all or any part of the outstanding amount due under the Notes into fully paid and non-assessable shares of Common Stock. The conversion prices range from 55% to 65% multiplied by the average of the two lowest trading prices of the common stock during the 20 trading day period on two convertible notes and 15 trading day period on one convertible note, ending on the latest complete Trading Day prior to the conversion. The Company may prepay the amounts outstanding to the holders at any time up to the 180th day from issuance date.
And the 10-K filed on August 14, 2018 lists all of the convertible notes up until the filing date (Aug 14), and it shows the last note was Bellridge, on June 14, 2018.
180 days after June 14 is right around December 14, 2018 give or take a couple of days.
Solid churning before busting loose...Looking good
EXCELLENT NEWS OUT TODAY :)
Agreed
2019 Will be even better!!!!!!!!!
RXMD
And I've always respected your support of Jan and PGUS, noodle. Yes, we've both been around for a long time.
Is it possible that you misinterpreted something?
First, just remember this. You've been around a long time, as have I. So you PROBABLY know that a LONG TIME AGO Jan stated that he would put the share structure on the Investor page of the website, and that he would have it updated once a month. Ding Ding Ding Is it possible that Jan was simply doing the monthly update on Oct 4 (as he just did yesterday on Nov 7)? There was obviously renewed interest in seeing the O/S updated, and I an SURE Jan knew that, and wanted to be sure to let shareholders know that the page was updated with the latest O/S.
I'm not sure what you're getting at with claiming "Jan KNEW that 250,000,000 more was coming," when 597.97M + 250M = 847.97M, which is more than the 804M O/S that was just updated yesterday... and we KNOW Jan has been - as we ALL have - hoping to see that loan come through to avoid further dilution. So why would he tell you 250M more were coming? Could it be that you misunderstood or misinterpreted? That was over a month ago that you are claiming "Jan KNEW 250M more were coming."
So... you're saying that you knew on October 3rd that we were going to see 847.97M shares O/S? We're not there yet, but sure, looks like we could. So Jan somehow gave YOU that impression. And he didn't come out and tell everyone that we were going to see 250M shares added to the O/S? I just don't get this whole thing with your claim that Jan is being deceitful.
Whatever it is that gave you that impression - and I don't WANT to know inside info if that's what you have - I think you should re-examine your comments here that are factually untrue. First, Jan tries like hell to avoid giving any inside info - I know first hand, and others seem to know that: "He's not answering me" "I've called and he won't tell me diddly" etc.
We don't need to make a molehill next to the mountain. We're all disappointed to see the O/S blooming into a mountain, but we can climb that mountain with what the fundamental business of ProGreen has to offer. This molehill of accusations against the CEO is petty.
The action today and the noise - seems pretty obvious someone is trying to flip their shares today. One of these times, they're going to get burned, won't be able to get them back without paying a lot higher price. Probably not just one big retailer, but a few smaller ones. Way more shares flipped today than just the note holders. You could see it in the L2 and you can see it in the volume. Over 18% of the entire float traded in just 2.5 hours this morning.
I'm sure some would like all others to believe that it's all dilution, but it's clearly NOT. Just like the estimates of O/S shares being always about 100M higher than the actual O/S. Did anyone notice that the last three times the company updated the share count on the website and/or OTC Markets that the actual count was right about 100M lower than the "guesses" that were floating around?
Here are some things to think about for the notes and dates that you had in your post.
I received the same, and called Jan last night. He said not to open it, it's a malware thing that was sent to a lot of his contacts. I guess he gets all kinds of attachments with all kinds of emails because he deals with so many investors, lenders, service providers etc. He must have opened something bad that got his email contacts. Probably something like this one from "Chrystine Daly" that we're seeing.
Progressive Care Enters into Definitive Agreements to Purchase Property for Third Pharmacy Location in South Florida
MIAMI – October 30, 2018 – Progressive Care Inc. (OTCQB: RXMD)(“Progressive Care” or the “Company”), a personalized healthcare services and technology company, today announced that through its subsidiary Pharmco, LLC, it has entered into definitive agreement (the “Agreement”) to purchase a property in Broward County, Florida that will double as the new corporate headquarters and as a retail pharmacy. This third location will facilitate the Company’s growth by expanding the Company’s pharmacy operations in the South Florida region.
On October 25, 2018, Progressive Care executed the Agreement to purchase an 11,000 square foot property (the “Property”) in Hallandale Beach, Florida for $1,800,000 USD. The light distribution building has many of the necessary features including parking, zoning, structural integrity, and modern equipment necessary to accommodate the Company’s needs for continued growth. Upon closing (the “Closing”), the Company plans to procure architectural plans and apply for the necessary permits to begin restructuring the floor plan to be more conducive to an industrialized pharmacy workflow. The Closing is expected to occur pursuant to the satisfaction of customary closing conditions.
The Agreement calls for payments to be made at Closing to the sellers in the form of a convertible promissory note for $300,000 secured by the Property and $1.5 million in cash to be financed through a traditional commercial mortgage for the total purchase price of $1,800,000, which is in addition to mortgage origination fees, real estate commissions, and other costs associated with the purchase.
“This Agreement is a testament to the Company’s growth this year,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc. “We are about to embark on a new chapter of our development. As owners of our own space, we cement our standing in the Hallandale Beach, Florida community while also planning and preparing for our future.”
The new facility will become the flagship facility which will provide for retail, long term care, mail order pharmacy operations as well as the corporate headquarters. This purchase is coming at a time when the current 5,000 sq. ft. North Miami Beach facility is reaching capacity and the Company has had to lease ancillary office space to accommodate administrative and accounting staff. The acquisition of the property will bring the total number of PharmCo locations to three, increasing our geographic footprint in South Florida.
For more information about Progressive Care, please visit the Company’s website.
Connect and stay in touch with us on social media:
Progressive Care Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS
PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx
Okay, now it's pretty clear where you stand, given that there's absolutely no reason to believe that the appraisal is overstated OR that the "gov't approval not going as planned." Please provide some kind of link or justification for both statements. Or should we just assume that you sold and hope to flip lower?
10 TRUCK LOADS IN 4 DAYS. HARVEST IS DEFINALTY RAMPING UP PGUS :)
Most here who have been paying attention at all know that we have a lot of long shareholders that over time have just stopped posting on the board. That's mainly because Jan has proven time and again that he is doing his best to do what is best for long shareholders. BTW, I see "long" as holding a year or more, and I doubt Jan is concerning himself with placating day week or 2 month swing traders. It's also crystal clear from the low trading volume over the past TWO YEARS while the price ranged between .01 and .03 that the long investors holding the great majority of the O/S have not gone anywhere.
Some here should take a step back and look at what they're posting about "Jan's keeping quiet" or "Jan's not communicating anymore" or "Jan's really screwing us." We're ALL disappointed to see the pps where it is right now, but we all know why. And it's always been a risk that we could spring a leak with the convertible notes coming due and not having yet secured the funding. Yes, of course we need to get the bridge loan secured asap and plug the holes for good.
Yes, Jan has obviously been extremely busy over the past several months. Sure, others are doing most of the hands-on work for both the farm and Cielo Mar, but the most time consuming part of those businesses is the funding and reporting. As the CEO, he has to go at it 12-16 hours a day 7 days a week or whatever it takes to keep everything moving forward.
Good grief, we've just been through the 10-K (August 14); the 10-Q (September 19); two 8-K's filed 3 weeks ago regarding the status of the bridge financing, followed by a company blog Q & A update addressing shareholder questions; and we just saw a PR addressing the status of the farm operation.
All in all (well, excluding several tweets about expected and then delayed updating on the funding), we've see 10 SIGNIFICANT COMMUNICATIONS from the company in LESS THAN 45 DAYS:
8/14: 10-K
8/15: PR - ProGreen Farms now shipping, 1st truckload Aug 9
8/27-8/31: Tweets - Status update forthcoming regarding bridge loan and note conversions
9/4: 8-K - Bridge loan agreement terminated
9/5: 8-K - New Bridge loan engagement
9/6: Tweet - Shareholder Q&A (funding, note conversions, new land purchase, farm status, Cielo Mar presentation to authorities
9/11: Tweet - 27 truckloads of peppers now delivered (all going well)
9/19: 10-Q
9/20: Tweet - 36 truckloads of peppers now delivered (all STILL going well)
9/27: PR - 47 truckloads of peppers now delivered, expecting well over 2,500 tons, "2018 farm operation declared a success" (my words)
All the while these things are going on, Jan is still apparently very busy juggling the finances and has had to figure out how to keep the real business operations running, let alone the overhead for reporting.
I wonder if half of the PGUS shareholders even understand the overhead cost of running a QB business. Did anyone notice the cost for the audit that's shown for all to see in the 10-K??? Just look at page 34: $67,000. That's what it cost, JUST for the audit. So yeah, the CEO's got to scrape together funds to pay for that, PLUS many other service providers, JUST to get the Q's and K's out recently.
For anyone questioning Jan's motives, methods or whatever just remember who you're talking about. Just how exactly is Jan getting anything out of "screwing shareholders" by (quote)LETTING(unquote) notes convert? In black and white and too many Form 4 (and other) filings to count, Jan is more heavily invested and staked in the future success of ProGreen than anyone else.
And Jan has loaned the company how much out of his own pocket? Just look at pages F-21 and F-22, at the Credit Lines 1, 2, 3 and 4. That's right, through 4 credit lines, Jan loaned the company:
Credit Line 1: $250K on August 2, 2016 (out of his own pocket)
Credit Line 2: $250K on February 21, 2017 (out of his own pocket)
Credit Line 3: $250K on July 19, 2017 (out of his own pocket)
Credit Line 4: $185K on April 30, 2018 (out of his own pocket)
He bought $100K of Preferred Stock in February 2016 (out of his own pocket) in order to fund the business, alongside his bother's $100K and his nephew's $100K (Brother Ulf, CEO of EIG Venture Capital, Spain; nephew Frederic, CEO of SolTech Energy, Sweden).
Jan also bought (out of his own pocket) 24M+ shares PGUS on the open market in 2016 and 2017 at prices up to 0.025. (cost basis well over $200K)
EIG Venture Capital bought ~$700K in debt from the company for preferred shares, also in February 2016 to eliminate all remaining debt from the balance sheet at that time.
EIG Venture Capital originally funded the company with over $1M investment for common shares.
I agree, extremely undervalued.. fundamentals are strong and the COMPANY will recover. PGUS
Revenues coming in...
Expanded 2018 ProGreen Farms™ Operation Revving Up Toward Harvest Peak
Press Release | 09/27/2018
Expanded 2018 ProGreen Farms™ Operation Revving Up Toward Harvest Peak
PR Newswire
SAN DIEGO, Sept. 27, 2018
SAN DIEGO, Sept. 27, 2018 /PRNewswire/ -- ProGreen US, Inc. (ProGreen) (OTCQB:PGUS), provided an update today on the status of its agricultural project in Baja California, Mexico.
Click to Tweet: https://ctt.ac/d5bhz
To learn more about ProGreen, visit: https://www.progreenus.com/
ProGreen funded the development of a pilot farming operation, ProGreen Farms™ Arenoso, in Baja California, Mexico, in 2017. The farm is a joint operation between ProGreen and Inmobiliaria Contel, the land owner. Starting from raw land and developed into what is now approximately 100 acres of jalapeno chili peppers at Rancho Arenoso near the town of El Rosario, the farm is now approaching the peak of its 2018 harvest.
In December of 2017, ProGreen's wholly-owned U.S. distribution subsidiary, ProGreen Farms US, LLC (FarmsUS), executed an agreement with Huy Fong Foods, Inc. (Huy Fong), maker of the original Sriracha chili sauce, to supply a minimum of 2,500 tons of red chili peppers in 2018. As of yesterday, FarmsUS has delivered 47 truckloads of red jalapeno peppers to Huy Fong in Irwindale, California, representing about 900 tons (1.8 million pounds).
"The yield is increasing, now about 10 trucks per week," said Jan Telander, Chairman and CEO of ProGreen, "and we are now expecting to harvest well over 2,500 tons this year. I am very happy with the results, especially with this being the first 'regular' season for the farm."
About ProGreen US, Inc.
ProGreen US, Inc. (ISIN: US74327M1027), headquartered in San Diego, California, is engaged primarily with agriculture and real estate land development projects in Baja California, Mexico. We are supplying chili peppers to Huy Fong Foods; and a totally green, 5,000 acre oceanfront resort-style vacation and retirement community is being planned, called Cielo Mar. Visit www.progreenus.com. Follow on Twitter: @ProGreenUS.
This press release might contain information, which may constitute 'forward-looking statements' within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. 'Forward-looking statements' are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated.
Media Contact:
John Rupert
Media & Communications Coordinator
john@progreenus.com
619-884-8430
View original content to download multimedia:http://www.prnewswire.com/news-releases/expanded-2018-progreen-farms-operation-revving-up-toward-harvest-peak-300720051.html
SOURCE ProGreen US, Inc.
PGUS
The company is in a great position to capitalize on new markets. Distracted driving is an epidemic in the world and is only getting bigger.
Cannabis is one of the fastest growing business led by total legalization in Canada with 10 other countries to follow.
We are positioned for the future and will ride the wave.
ONCI
PRIVATE LABEL
As of today at 3:30pm we have received a verbal agreement for our first private label deal. We have been working on this deal for the last 4 months and after many meetings we got the verbal today. As soon as we have the docs signed I will announce the company as it is a very big company and a huge deal for us. I was hoping to get signatures today but it is not possible.
We are also working on two more big private label deals one in Europe and the other in Turkey. We have made every change they have asked us to make and we are pushing forward everyday. I am hoping to get answers ASAP.
CANNABIS
I am pleased to announce that we have signed a letter of intent to purchase 75% of a craft Cannabis company called Sifthouse BC . Sifthouse is a craft Cannabis company and a new business based in Vancouver. If you think of craft cannabis like a craft beer company, they will grow highly profitable and specialty blends in the way craft beer, such as montaulk IPA, does. This business is about to explode and we are in on the ground floor. It is my expectation that big tobacco and spirits companies will be in control of this business going forward and the expectations and potential profits will be amazing. Terms of financing are being worked out and will be announced in the next update but we will be sending Sifthouse a payment of $100,000 within the next few weeks. As new markets and countries open we will be able to franchise our company to every city that makes cannabis legal over the next few years and I believe craft growers will be the biggest part of the cannabis boom.
BUSINESS
Shareholders: I am happy to report another record quarter with sales up over 11% from last quarter. We achieved new milestones with the signing of AN and C max and more big names to come. We have started shipping AN and I will be discussing states and distribution with C max next week. To date we have shipped 12 AN stores and more coming in the next month .
I am also pleased to announce that we have made a distribution deal with a company that provides logistics and software to almost every municipality in the USA and in Europe.
They want to create the first distracted driving network for government fleets of Cars and Trucks. As soon as our NDA expires and it will be soon I will announce the name of the company.
Might check this out!!
PRIVATE LABEL
As of today at 3:30pm we have received a verbal agreement for our first private label deal. We have been working on this deal for the last 4 months and after many meetings we got the verbal today. As soon as we have the docs signed I will announce the company as it is a very big company and a huge deal for us. I was hoping to get signatures today but it is not possible.
We are also working on two more big private label deals one in Europe and the other in Turkey. We have made every change they have asked us to make and we are pushing forward everyday. I am hoping to get answers ASAP.
SHARE REDUCTION
AS discussed per our attorneys I sent a board Resolution to our TA only to find we have 3 issues to overcome:
1. we need to settle with Delaware
2. we have 2 share reservation letters one from 2015 and one from 2014. Both of these companies hold no shares but we have to get revision letters from them to remove the reservations. I have reached out to both companies and was hoping to hear back by today.
3. I have made an offer to Delaware to reduce the amount and we believe they will accept. Once these 3 items are complete the share reduction will take place.
This is totally on me and I can only take full responsibility for these items but it will get done and soon.
HEXAGON 6TH LEG
As of today, the 6th leg of hexagon is complete we have started a new platform for merchandise to freely trade. We have purchased a variety of domain names and we are waiting to get financing in place. As soon as that happens we will announce via a PR all details. I am sure this will be a GRAND SLAM.
I will discuss the dental and the beta testing and the OBD development in the next update as we are moving everything along
HEXAGON
ALL CAPS DEEMED NECESSARY HERE: LET ME SAY THIS AGAIN, AGAIN, AGAIN and AGAIN: THERE WILL BE NO REVERSE SPLIT.
LET ME SAY THIS AGAIN AS WELL: THERE ARE NO PLANS TO DO ANOTHER 3A1O.
So if you don't understand it, again, there are no plans on the table to do a reverse split.
If you cant read or don't understand this, get glasses.
In my expectation, we will get the Hexagon deal done and be able to make the move to Colorado shortly. Nobody is more frustrated then me about this.
The company is in great shape as we continue to close deals and increase revenue. Closing the 3 huge dealer groups is a blockbuster event and will increase revenue three fold in the future.
In addition, we are looking at ways to unlock shareholder value in everyway as we open new opportunities and look to capitalize at every turn.
#LEGALBOOM #SMDPC
CANNABIS
I am pleased to announce that we have signed a letter of intent to purchase 75% of a craft Cannabis company called Sifthouse BC . Sifthouse is a craft Cannabis company and a new business based in Vancouver. If you think of craft cannabis like a craft beer company, they will grow highly profitable and specialty blends in the way craft beer, such as montaulk IPA, does. This business is about to explode and we are in on the ground floor. It is my expectation that big tobacco and spirits companies will be in control of this business going forward and the expectations and potential profits will be amazing. Terms of financing are being worked out and will be announced in the next update but we will be sending Sifthouse a payment of $100,000 within the next few weeks. As new markets and countries open we will be able to franchise our company to every city that makes cannabis legal over the next few years and I believe craft growers will be the biggest part of the cannabis boom.
#LEGALBOOM #SMDPC
BUSINESS
Shareholders: I am happy to report another record quarter with sales up over 11% from last quarter. We achieved new milestones with the signing of AN and C max and more big names to come. We have started shipping AN and I will be discussing states and distribution with C max next week. To date we have shipped 12 AN stores and more coming in the next month .
I am also pleased to announce that we have made a distribution deal with a company that provides logistics and software to almost every municipality in the USA and in Europe.
They want to create the first distracted driving network for government fleets of Cars and Trucks. As soon as our NDA expires and it will be soon I will announce the name of the company.
#REVENUERULES #SMDPC
My take on the new product PCB -
I enhanced the image, so you can see everything more clearly.
The connector is a simple 2-pin power connector. I used the exact same connector for a miniature circuit board about the size of this one. Also, you can see "PWR" just above the connector, so there you have it. My first assumption would be that there is a small 2-conductor cable that goes between 2 circuit boards inside the OBD housing, and that the other circuit board is the one that has the actual OBD port connector. Either that, or there is no circuit board on the port connector, and the wires for the other end of this power cable are simply crimped or soldered directly to the OBD connector.
The large silver "IC" is actually a multi-chip bluetooth module that has an onboard microcontroller unit with program memory, RAM and many other features (IMO).
The very small "U2" device in the lower middle portion of the board - in the shadows - is most likely the IMU module (IMO). It's hard to believe everything that can be integrated into such a small space these days, but that little chip/module has a 3-axis accelerometer, angular rate sensors configured as a gyroscope, and much more. It's a compete MEMS navigation sensor (MEMS = micro-electromechanical system).
Among other things, if mounted in a vehicle, this device can sense every detail of the ride experience - light/heavy braking, cornering, speed, acceleration/deceleration, shock from impact, etc.\
... and then it can transmit this information via bluetooth radio to a nearby device.
IN ADDITION, this device could be used to augment GPS for navigation. In the abscence of a GPS signal, heading information combined with accel/decel, velocity and angular rates can be used to determine location relative to last known GPS position.
I can "c" how this board could be used to replace the existing product, adding the ability to sense and report ride conditions (safe or unsafe driving) to a smart phone. The current functionality for bSafeMobile and FleetSafer are automatically included with this sensing ability - - the smart phone app will know when the vehicle is moving, and can then disable certain phone uses as appropriate. And I can definitely see how this could be the "holy grail" all-in-one product that insurance companies would take a keen interest in. It's as if this new product can "c the road."
NICE
Onci was valued at $39M last Sept 2017! Today Onci is extremely undervalued with economic growth and future unrealized accounts, debt reduction, pending negotiations.
We have a Monster Pick
September 15, 2017
Currently trading at a $39 million market valuation ONCI on the books and significant rising debt that usually leads to significant dilution. ONCI is an exciting story developing in small caps; The Company is led by successful entrepreneur. Steve Berman and they are making big moves in the trillion-dollar mobile App space announcing one huge contract after another. ONCI has attracted a huge shareholder base who is bidding this one higher. We will be updating on ONCI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ONCI.
Monster Pick
Aegis privately owned valuation peaked at $28M, acquired zoomsafer for $5m plus undisclosed amounts.
Aegis Mobility raises $5m more, buys rival ‘distracted driving’ solutions firm ZoomSafer.
$5m plus some paid
Onci going public was smart move by CEO considering CEO acquired all of COGOSENSE for $2.5M and with A/R $3.1M sufficient to fulfill entirety of acquistion cost's. Baseline valuation last year was $39M with toxic debt, less assets. Where does that put us now with $5.5M assets, $3,1 A/R, $150k cash end of toxic debt (minus few million shares CFGN). How about the twitter and accounts pending announcement as listed in the financials and reported to IRS public ally available.
Apple recognizes
Aegis Mobility Creates the Industry’s First Safe Driving Enforcement Solution for Apple iOS
Apple Magazine
Why did competition lash out and how did it work out for them? Not very good but great for Cogosense. First on the block 32 patents.
Factual Background
Lets dissect the whole scenario.
Pay Attention: Distracted Driving Could Boost Your Insurance Rates By As Much As 41%
National Highway Traffic Safety Administration, 3,477 people were killed and 391,000 were injured in motor vehicle crashes that involved distracted drivers..That may not sound like much of a budget-buster, but it represents a premium increase of 7,944% since 2011,
Forbes
Warren Buffett says distracted driving will cost drivers
..With the mass popularity of smartphones and other devices, distracted driving is also becoming a greater problem on the roads..The agency estimated the costs of accidents..$412.1 billion.
Warren Buffet
Life on the Road: The Cost of Distracted Driving
Distracted driving..costs approximately $175 billion a year,..HTSA) estimates that all highway accidents represent nearly $1 trillion in economic damages.
1 trillion
Insurance companies and affiliated pay economic damages per year $175 billion due to Distracted driving. All highway accidents represent nearly $1 trillion in economic damages.
Recent accounts
Carmax....During fiscal 2018, we grew total revenues by 8% to $17.1 billion,..grew retail units by more than 7% to 722,000 vehicles,..CarMax Auto Finance (CAF) income increased 14% to $421 million..
Autonation
new vehicle unit sales in 2018 ..16.8 million units..Our parts and service and finance and insurance operations, while comprising approximately 21% of our total revenue for the six months ended June 30, 2018, contributed approximately 74% of our total gross profit for the same period
..ended June 30, 2018, we had net income from continuing operations of $97.4 million..
AN-CM Retail
IBR Dec 18 $.024. IBR
..Insurance companies are the golden goose because they have so many policies in effect. The fact that they can save money by offering Bsafe to their policyholders is very appealing to them. It also provides great branding for them to promote the fact that they can save lives.
SHL
..CNA policyholders have preferred pricing that represents a 25% cost savings over the regular rate for Cogosense services.
CNA Cogosense
ICBC insurance to consider.
Insurance
In my observation insurance companies would rather pay $1b for Cogosense devices-Apps (100% return on their investment $2B) in addition saving-prevent $174 Billion dollars in paid economic damages. Customers save 25% from CNA insurance and other partners for installing Cogosense apps-devices, hence free roughly 18 months later @$250 upfront cost.
Cogosense valuation prior to Q3 or share reduction, where does that put us?
Sep 15 = Grossly undervalued
$500 M =
$100 M =
$1B =
"In 2015, there were 205 million cars insured in the US..." (probably a higher number now, 3 years later?)
Okay, so let's start by limiting this to U.S. sales only, even though the Company already has a lot of activity in several other countries.
Let's say that, next year or the year after, ONCI sells enough units to outfit 1/10th of 1% of the vehicles insured in the U.S. That's a very small part of the market, right?
Based on the 2015 number of 205 million cars, that would give us (205M / 100) / 10 = 205,000 units.
At 205,000 units and $200 per unit, that comes to $41,000,000 in sales (revenue).
At $112 profit (earnings) per unit, that comes to 205,000 x 112 = $22,960,000 in EARNINGS.
So, in a given year, ONCI sells enough units to outfit 1/10th... of 1%... of the insured vehicles in the U.S. (and we know there are just a few more vehicles in OTHER countries that we might be selling for, right?). It sure feels conservative to me. And that yields $23 million in earnings. Yes, that's EARNINGS, bottom line dollars.
Once that has been accomplished, we can use the Trailing PE number - as is most frequently used for valuations - and that gives us a valuation of $22,960,000 x 272.22 = $6,250,171,200. That's $6.25 with a B behind it - $6.25 billion. Seems outrageously high, doesn't it? Well, that's why software/app businesses do so well in the stock market. With the O/S reduced by 1.4B, we'll have something like 3.1B O/S. A $6.25B valuation with 3.1B O/S gives $6.25B / 3.1B = $2.02 pps.
Okay, so that's at least another year before we could claim that valuation, right?
But what if we want to look at a projection of future sales/earnings, saying that over the next year ONCI will sell 205,000 units? Okay, so we use the Forward PE, which gives us a valuation of $22,960,000 x 43.19 = $991,642,400. At 3.1B O/S, we get $991,642,400 / 3.1B = $0.32 pps.
If we go with just what we have today, before seeing the revenue from the past quarter that is going to show in the quarterly report in 2-3 weeks, and before we see the sales that are just beginning with AutoNation and CarMax, and before CNA pushes our product to the NUCA membership, and before we see the first large fleet deal, and before we see a private label deal that seems to be in the works... Then let's go with what we have TODAY, from the past 4 quarters operating margin, which is $1,894,968.
So... using the Trailing PE number, which is most commonly used, TODAY we have a valuation of $1,894,968 x 272.22 = $515,848,189.
And... at 3.1B O/S, this gives us $515,848,189 / 3.1B = $0.17 pps.
I went with Operating Margin for the "earnings" number because the only difference between the Operating Margin and Profit in this case is the costs for the 3(a)10 debt restructuring, which is a one-time charge for extinguishing old debt from old management that was not part of this business/product financial model.
But remember what we started with - we considered sales ONLY in the U.S., and we said the quantity sold is for 1/10th of 1% of the insured vehicles in the U.S. When, in fact, we have much activity going on outside of the U.S. and, within the U.S. we are developing a huge network of vehicle dealerships, working with large-fleet companies across the country, working on OEM deals, private-label deals and insurance company deals. So it's very possible that the 1/10th of 1% - or 205,000 vehicles - will look like a real lowball annual sales number in the very near future.
ON4 COMMUNICATIONS ANNOUNCES UPDATE TO SHAREHOLDERS- SEPTEMBER 14, 2018
NEW YORK, NY -- September 14, 2018 -- InvestorsHub NewsWire -- On4 Communications (OTC: ONCI) announces letter to shareholders from CEO Steve Berman as follows:
BUSINESS
Shareholders: I am happy to report another record quarter with sales up over 11% from last quarter. We achieved new milestones with the signing of AN and C max and more big names to come. We have started shipping AN and I will be discussing states and distribution with C max next week. To date we have shipped 12 AN stores and more coming in the next month .
I am also pleased to announce that we have made a distribution deal with a company that provides logistics and software to almost every municipality in the USA and in Europe.
They want to create the first distracted driving network for government fleets of Cars and Trucks. As soon as our NDA expires and it will be soon I will announce the name of the company.
#REVENUERULES #SMDPC
CANNABIS
I am pleased to announce that we have signed a letter of intent to purchase 75% of a craft Cannabis company called Sifthouse BC . Sifthouse is a craft Cannabis company and a new business based in Vancouver. If you think of craft cannabis like a craft beer company, they will grow highly profitable and specialty blends in the way craft beer, such as montaulk IPA, does. This business is about to explode and we are in on the ground floor. It is my expectation that big tobacco and spirits companies will be in control of this business going forward and the expectations and potential profits will be amazing. Terms of financing are being worked out and will be announced in the next update but we will be sending Sifthouse a payment of $100,000 within the next few weeks. As new markets and countries open we will be able to franchise our company to every city that makes cannabis legal over the next few years and I believe craft growers will be the biggest part of the cannabis boom.
#LEGALBOOM #SMDPC
HEXAGON
ALL CAPS DEEMED NECESSARY HERE: LET ME SAY THIS AGAIN, AGAIN, AGAIN and AGAIN: THERE WILL BE NO REVERSE SPLIT.
LET ME SAY THIS AGAIN AS WELL: THERE ARE NO PLANS TO DO ANOTHER 3A1O.
So if you don't understand it, again, there are no plans on the table to do a reverse split.
If you cant read or don't understand this, get glasses.
In my expectation, we will get the Hexagon deal done and be able to make the move to Colorado shortly. Nobody is more frustrated then me about this.
The company is in great shape as we continue to close deals and increase revenue. Closing the 3 huge dealer groups is a blockbuster event and will increase revenue three fold in the future.
In addition, we are looking at ways to unlock shareholder value in everyway as we open new opportunities and look to capitalize at every turn.
PRIVATE LABEL
As of today at 3:30pm we have received a verbal agreement for our first private label deal. We have been working on this deal for the last 4 months and after many meetings we got the verbal today. As soon as we have the docs signed I will announce the company as it is a very big company and a huge deal for us. I was hoping to get signatures today but it is not possible.
We are also working on two more big private label deals one in Europe and the other in Turkey. We have made every change they have asked us to make and we are pushing forward everyday. I am hoping to get answers ASAP.
SHARE REDUCTION
AS discussed per our attorneys I sent a board Resolution to our TA only to find we have 3 issues to overcome:
1. we need to settle with Delaware
2. we have 2 share reservation letters one from 2015 and one from 2014. Both of these companies hold no shares but we have to get revision letters from them to remove the reservations. I have reached out to both companies and was hoping to hear back by today.
3. I have made an offer to Delaware to reduce the amount and we believe they will accept. Once these 3 items are complete the share reduction will take place.
This is totally on me and I can only take full responsibility for these items but it will get done and soon.
HEXAGON 6TH LEG
As of today, the 6th leg of hexagon is complete we have started a new platform for merchandise to freely trade. We have purchased a variety of domain names and we are waiting to get financing in place. As soon as that happens we will announce via a PR all details. I am sure this will be a GRAND SLAM.
I will discuss the dental and the beta testing and the OBD development in the next update as we are moving everything along
#SMDPC
The company is in a great position to capitalize on new markets. Distracted driving is an epidemic in the world and is only getting bigger.
Cannabis is one of the fastest growing business led by total legalization in Canada with 10 other countries to follow.
We are positioned for the future and will ride the wave.