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I know that story. Snake promised not to bite, then when he bit the passenger (different animals but usually a frog I think), his excuse was “what do you expect, I’m a snake”.
And the only way it could apply to this situation is if you’re saying we shouldn’t be surprised by penny stock companies “doing what they do”.
And my point was, the extent to which Ballas has mislead investors is borderline illegal at best, and is not in line with how all penny stocks operate.
The fact that you pulled one example out of the countless penny stocks supports my assertion that bilking investors is not as common as you are trying to imply.
This conversation is pointless, though. If you are fine with being screwed out of your money, then nothing I can say will change that. Most, however, are not as forgiving when it comes to being conned out of many thousands of dollars.
While I do like the comparison of James Ballas to a snake, the rest of your post is stupid. The idea that any publicly traded company, in the penny range or not, can lie, cheat and steal as they please without repercussions is contrary to everything the SEC is supposed to stand for.
Your parable draws an inaccurate comparison in that the PR's that are released regularly with fake "plans" and outright lies do not have a disclaimer at the bottom saying "James Ballas is a snake".
Crooks like Ballas are only able to bilk investors because they are in the minority. I have never seen a penny stock company's leadership try so hard to destroy a stock/company/investors bank accounts for their own personal gain.
Yep. Their entire strategy here is to run a dilution machine. While it was an unexpected miracle for them in the beginning to be able to get .01-.02 for their free shares, even at .0002, it's free money for them. They get the free shares and immediately convert it into hard cash. Actual investors are more of a nuisance to them than anything.
I've filed a couple of complaints with the SEC on UBQU and never heard back. But the more times they see the name, the more likely they will investigate.
Many have been warning investors for a long time. I got out just over a year ago and explained why to anyone following this board. The legit warnings are outweighed by those that still hope to recover their massive losses by grasping any straw they can and touting it as the reason UBQU will rise from the ashes and make everyone wealthy.
Management is a joke and Ballas and his buddies should be in jail.
Nothing they do surprises me anymore. Worst management I have ever seen in a publicly traded company.
I guess that says a lot about the lenders confidence in Ballas's ability to eventually raise the share price.
Contact the SEC. Many here have done it, but the more ppl that contact them, the more likely it is they will step in. Each year there is a new batch of investors that fall for the hype PR's, and it's usually about this time when they realize it's a scam. The yearly financials are always disastrous. But watch, within weeks there will be new people on here that get offended when they are warned and will refuse to do any research on their own.
They have been doing it for years. If you compare all of the previous financials, the timelines for the loans don't match up. In one instance, they waited 2-3 years to report that Ballas basically brought a ton of debt with him into the company.This is/was debt that he had from before he was even part of UBQU. Crazy stuff they are pulling here.
Wtf are you even trying to say?
This is the description on the current trademark held by Anthony Skinner:
Goods and Services: On-line retail store services featuring dietary supplements and vitamins; Retail store services featuring dietary supplements and vitamins
Hardly seems like a different business category.
I got out last year when they released fins that included new loans with the same terrible terms.
He's posting links to the fact that they not only do not have trademarks on the names, but are not even in the process of doing so, despite the claims they made last year.
Might not be a bad buy at .0001. If they do something good eventually, you might make some money.
I don't know. Try to trademark a Fast Food Restaurant named McDonald's Today and see how it goes.
Nope. Fits right into their MO though.
Based on his username and the following, I am inclined to believe him.
https://trademark.trademarkia.com/hemplife-86372908.html
I did a quick search and found this.
https://globenewswire.com/news-release/2018/11/26/1656907/0/en/HempLife-Today-Gives-Shareholder-Update-on-Trademark-Protection-For-The-Company-and-Its-Popular-CannazALL-Hemp-Derived-CBD-Products-Expecting-2019-to-Be-Its-Breakout-Year.html
Even in a sentence where they say they are still trying to trademark it, it has the little "tm" designation.
From Nov. 26 2018
"The Company has previously filed for Trademark protection of both HempLife Today™ and CannazALL™, and is currently pursuing all legal aspects to secure these Trademarks into the future. The Company believes that its Trademarks are vital to its growth, have monetary value, and will help with possible acquisition in the future."
I agree. Unfortunately it wont be soon enough for most here.
Lol I did correct it but it was probably accurate either way.
Well, the fins certainly read that way. Although the only reason I can come up with for Ballas agreeing to those terms is if they are working together to basically turn 'free' ubqu shares into millions of dollars for them to split.
It's not a bad plan if they get away with it:
Create/acquire/Merge with a publicly traded company.
Apply for and be approved to increase available shares.
Create fake projects and 'borrow' money from your friend's cousin's neighbor with a clause that allows for the debt to be paid with shares at a rate of .001 per share.
Pay the loan in shares, continue to release bs PR's and pump the stock to keep investors interested for as long as possible (that part has been a problem for them over the last few quarters as more people are seeing the pattern, hence the current SP).
Rinse and repeat until the company is worthless and your friends have milked investors for all you can.
Retire somewhere nice.
"keep in mind, OTC is the wild wild west. That 'lender' lent ballas shares, on the idea they have a value yada yada. "
The lender lent Ballas money, and has the option to be paid back with shares at a value of .001 per share.
"maturity dates in 2018 and 2019. These notes contain a conversion feature whereby the notes are convertible in whole or in part, at the sole discretion of the holder, into shares of common stock at a conversion price of $.001 per share or the company “par” value."
I don't know all of the rules, but no person can own more than 10% of the shares. It could also be the company dumping the shares to raise capital. Even at .0001 they would be making a little money. Aside from that, I have no idea why they would do this.
Any whale that dumps at the absolute bottom like that won't be a whale for long.
They actually have loans listed in the <2018 fins from companies that, from what we could find, do not even exist. Haven't looked at recent ones so I don't know if that's been corrected or not.
Technically the debt would be paid when the shares are issued to the lenders, regardless of when the lender sells them.
They 'can' pay the debt with cash. But that has always been an option. At one point they had enough cash on hand to cover what they needed or pay off some of the outstanding debt. Instead they borrowed more money at those ridiculous terms, and used the cash on hand to hire people to pump the stock.
The shares go to the lenders to pay down the debt at a rate of .001/share. Then the lenders sell the shares to market and make a killing (Up until recently when the price dropped to where it is because of the relentless dilution). It's a nice setup between Ballas and the lenders. They all make millions off of relatively small loans, and the investors are the ones paying the price.
A lot of the dilution is convertible shares paying off loans where the money was wasted. More than wasted, dumped into projects that never came to fruition. Phantom projects.
Uh oh. Watch the fins with a careful eye out for monies borrowed for things like "Sales Expansions", "Software Development" etc. They have pulled this one before also.
Third time they have done it in three years. yet people fall for it every time.
New CEO I'd jump back in for a little.
The real money seems to be in loaning funds to UBQU, with a clause to get paid with convertible shares.
No problem. I should add that if anyone is gonna invest, now is probably the safest time (relatively of course, I mean it could still drop lower and cost you everything but at least the risk/reward ration is better than it was at higher prices).
Here's one i grabbed from 2016.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=126900601&txt2find=name|change
To put things in perspective, you should search for basically anything in 2016, 2017 etc. and pay attention to how similar all of the posts are to what's on the board recently.
People excited over promises made by the company (which never come to fruition), people making positive guesses about what will happen next and how the stock will skyrocket etc.
This was years ago, it's the same cycle because it's the same criminals running the show.
We are on year three of the name change so far.
I'm not in, and haven't been in for about a year. I got out within a day or two of the 2017 yearly fins being released about this time last year. The illegal and unethical activities became obvious at that time just from skimming the fins. Not a day has passed that I regretted that decision.
At 50k/month for the Ambassador program, it will take 12 months to recoup the money they "spent" on Cryptobuy.com development. It will take 5-10 years to recoup the real losses realized from that situation, since they financed that 600k venture with convertible shares worth several million dollars at the time.
I dont expect anyone to cut and run right now. Most are down 99% or so not accounting for averaging down. Might as well stay in and gamble on recovering some of it.
My guess is that when the dilution stops, it will go back to the 2-3 million volume and sit stagnant at .0001-.0002 while everyone continues to wait for the catalyst that has been promised for years and never, ever delivered.
They announce a catalyst in an attempt to run the price up for more dumping and then when it isn't delivered it crashes back down. Their biggest problem now is that they have done it so many times, "news" of a catalyst is no longer enough. They have to actually do something. And from the years I was in this and the time I've spent following it since, not one person in management knows how to actually follow through on their promises. And the longs are so focused on charts and slapping the ask that they can't see what's been right in front of their eyes for years.
I have shown proof on here more times than I can count but I'm done doing all that work. It's all in the financials, and anyone willing to spend a little time breaking them down will come to the obvious conclusion that Ballas and friends should be in jail, not getting rich at the expense of investors.
Not one person can possibly have a green account at this point. Maybe the few people that got in at .0001, if they were not averaging down, could be green. But I would be amazed if that was any significant number.
Or they have been accurately calling for it to drop for over a year and could have saved everyone on this board a lot of money if people listened.
It really is a good product. Otherwise it wouldn't have taken so much effort by management to run this down to .0001.
It's the irresponsible borrowing of money from specific lenders for terms that pay the debt off with shares at a rate that gives the lenders returns of millions on small loans that should get him locked up.