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About $50 billion.
I agree. This thing is brand new. It needs time. I have 1 million shares and intend to hold for years.
Current market cap of $2.3m or so is 10x annualized revenue BEFORE Kush and Cannanet. Insanely cheap.
See my other posting. My total guess is that the term of the convertible note gives that rate of .003 but caps out at 577 million shares and then either the note is retired or the remainder must be paid in cash. Just my speculation.
Ok found it.
The below I believe is the story of why they have put that .003 cents per share conversion on the Sign (short for Sign and Drive”) Note. It’s the mechanism whereby they are paying them the 577 million shares promised below. Someone is getting extraordinarily rich off what was a very small note that was “arguably in default”...below is why I don’t think they can just get out of the current convertible debt.
From Page 2 of the Q3 supplemental information:
List any stock split, stock dividend, recapitalization, merger, acquisition, spin-off, or reorganization either currently anticipated or that occurred within the past 12 months:
The issuer has now reincorporated in Colorado, as of March 3, 2017, following its acquisition of First Capital Venture Holdings Co. Coinciding with that event, the issuer entered triangular merger pursuant Colorado law, similar to what is prescribed by Section 251(g) of the Delaware General Corporation Law. Immediately prior thereto, also a subsequent event, the Company changed its name to its current name – PotNetwork Holding, Inc., having changed its name to SND Auto Group, Inc., on May 20, 2016. Prior thereto, effective July 24, 2015 the Company its name to PotNetwork Holdings Incorporated and new ticker symbol "POTN." PotNetwork Holding, Inc. fiscal year ends December 31. During the past three years the Company has not been in bankruptcy, receivership or involved in any similar proceeding. The Company was at least arguably in default on a convertible promissory note issued to Sign N Drive Auto Mall Inc. However, it has since retired that note in exchange for the promise of future issuances of 577,523,089 common stock. Otherwise the Company is not in default in the terms of any note, loan, lease, or other indebtedness or financing arrangement requiring the Company to make payments. The Company has not been the subject of any delisting by a securities exchange or a deletion from the OTC Bulletin Board.
But I don’t think they can get out of it. I recall a thing from one of the 10Q saying they are obligated to give Sign like 500m of shares related to that note...do others recall that?
The bad terms on the loan is a main reason I sold and if they could dump that awful conversion provision I would be on this stock like white on rice!
Yes that was the issue of the day. The issue here is the shares issued/paid in lieu of debt service on the loan. Those are new shares outstanding. If you want to call it dilution then it is dilution I guess. The audit needs to disclose if the conversion rate has changed because the old one listed in the 10q is like .003 (I may be off a decimal), but really low which is a crime given the current stock price. They paid 40m shares that way in Q2 and Q3 2017 which now is like $20m which could pay the loan down multiple times over. I don’t get how they haven’t fixed that which can only mean they CANT fix that because they are contractually bound to ride it out...but they keep compounding the problem by adding to that loan at its onerous conversion rate.
“Hey Uncle Steve, do you have $20 million, I’m trying to acquire a telecom”
My guess is we are the acquiree not the acquirer.
PS, I hate when posters give me this “do your DD” answer...if you think you know the answer, share it or say “I don’t know” or keep quiet...
For instance, I have a CPA license...when financials come out and someone asks a question about the financials or an audit or whatever I won’t tell them “go get a CPA license”....if I know the answer I will share it, if I don’t I will keep quiet or tell them I don’t.
Agree, strongest PR to date (from its implications)....
I’m not doing any DD...if they were going to acquire it would be with either a Leveraged Buyout, Private Equity, etc....but that won’t happen with any Telecom we know by name...they ain’t acquiring one of the big boys so if they acquire it will be a fly by night Telecom....
Let me put it this way, I hope to heck the real news is a big boy acquiring ANDI in a stock for stock exchange...
ANDI acquiring?? With what capital? All the company has to its name is this $50m or so worth of stock.
So ANDI buys T-Mobile or whatever? I doubt it.
Maybe this is a dumb question but here it goes.
From the PR I am guessing the telecom will acquire ANDI? If so I assume it will likely be a stock for stock acquisition.
If that’s the case, why would ANDI need to change its ticker symbol, it will just be gobbled up and we all get (hypothetically) AT&T stock or whatever...
Might that be why we now haven’t seen the symbol change?
Am I thinking of this wrong?
Agree! Worst thing we could see now is a huge upswing in price before finalization of a deal. I think the market is approaching this PR more cautiously which is good.
I’d love to see a nice long period of consolidation in the .02s before take off upon confirmed merger, etc.
Elvis is in the building.
https://mobile.twitter.com/AmericanaHemp
Today’s end of day run was all the more impressive given that it happened at the same time the DOW tanked.
Can’t it be both?
Holy smokes.
They’re getting into blockchain?
Turd huh? Then I’m reading this board while I drop an ANDI I guess.
What a delightful day.
Where does it say from here?
I love the knowledge I get here. Nice to have the sane voices here now and quieting of all of the Chicken Little voices.
Where do you go to see this chart?
So this weeks pattern down to .014 is a literal carbon copy of how the last one played out.
Can someone smarter than me explain what hat means or why it happens that way?
Did anyone see that and load the boat at .014?
I think it looks great! Very funny, good animation, this is going to be a huge hit. And when they get a deal with Comedy Central on it, watch out!!
Price holding up this morning better than I expected.
Holy smokes, 20 is super oversold.
He means Comedy Central not Comedy Channel. Huge if it happens.
What metric are you using for oversold. The RSI? What’s it at?
That would be huge!
Price now is higher than it was just two weeks ago and it doubled from there.
I will say again, this stock will end in one of 2 binary outcomes. Either:
A). Louden Owens and D. Green have conspired to defraud us for their own self-enrichment and we are all screwed and should run around with our hair on fire like some are doing now.
Or
B). They are working to build a legitimate company and then ultimately at some point the price will be above $.016 and this will be a blip
Why would these highly successful men do this scam to make money they don’t need and thus cut themselves off from all future capital raising opportunities in their business careers and effectively end their careers?
When we even lightly entertain the “scam” folks on here you are saying you think A) will be our outcome. Stop, take a deep breath and ask yourself, does that make sense? At all?
Agree. Last time ANDI dropped it was when the broader market crapped out. It’s not the only factor but I honk contributes to the severity of the drop.
Show me the article and the day it came out.
No one bought off some dumb article
Folks be wary of groupthink on the way up AND down on a stock. The same hysteria on the way up becomes panic on the way down.
You all regret not selling at the top and will regret not buying at the bottom. Welcome to human nature.
Look at the chart, RSI below 30, identical to what happened last time two weeks ago and it doubled quickly.
In the Great Recession folks said Dow was going to zero...in hindsight looks foolish. Let’s not be foolish for the good or the bad.
Thanks. What is your model showing? Have you run it at these levels?
Today’s as good a day as ever for this:
“Now’s the time to heed these lines from [Rudyard] Kipling’s If:
‘If you can keep your head when all about you are losing theirs…
If you can wait and not be tired by waiting…
If you can think — and not make thoughts your aim…
If you can trust yourself when all men doubt you…
Yours is the Earth and everything that’s in it.’
Nope, up 8%!