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Owe them for what?..and you do not hide assets....you acquire assets in this scenario. Doesn't matter anyhow. I have to rework everything due to something I found. You are not getting it though. I can't help you.
Not quite:
"With 2 million in liabilities that 1 million of can be auctioned off and other million most likely will be issued via common or preferred 2 old management"
Accrued payroll expenses is essentially thrown into the garbage(should be..or mostly). Related party debt is the play. Those that purchased restricted securities in PIP...Form D...where such was placed here in the form of notes(PIP)....is part of the "window" play. So the question is about the target...as such...is it PIP(speculation)?
This entity is on the verge of having to file as a shell. They need to pull in some form of assets...no matter what... and pronto. The question is if they do it correctly or not. The "window" play is the notion of a very near short term window where no conversions exist.
On April 2, 2019, the Company issued a convertible promissory note to Power Up Lending Group, LTD in the amount of $25,000, resulting in $22,000 in net proceeds to the Company after the payment of debt issuance costs totaling $3,000. The note matures on December 2, 2019. After 180 days from the date of the note agreement, the note is convertible at a conversion price of 58% of the average of the lowest three trading price during the 10 days prior to the conversion date.
I would suggest a rough $21.5k reduction in current convertibles @ .001265+.00093+.00071+.00055/4 .... since June 4th.
Based only on Auctus conversion clause. Watcha' all got?
We want to see an amended list here:
https://www.nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=1YkSKDlRjFTRQRVeATQVqA%253d%253d&CorpName=POVERTY+DIGNIFIED+INC.
or here:
https://www.nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=nAObz1MABzKAa9sk7Epxng%253d%253d&CorpName=MY+POWER+SOLUTIONS+INC
Be it similar.
The quarterly will show worst case , ending May 30th, 53k in remaining current converts with an addition of a rough 21k in April(September convert)..and another rough 25k in May(thinking). The may 30th outstanding will be a rough 81 Mill'...maybe less 4 mill(rough 77 mill' total) I had to rework the numbers due to the EMA net discount(refer to 10k). There is always something buried..eh?
A rough 25 Million shares converted and sold into this market since June 4th @ 21% inv' turn on total volume. Typical inventory turns between 15% and 30% with regards to converts entering the market.
I'm seeing $205,677 in extinguished debt circa June 4th based on 62,326,391 shares entering market on a combined average(3) conversion factor of .0033 from April 15th to June 4th. If I add in the rough 47.5k from subsequent events per last quarterly, that now equates to a rough 253k extinguished(subtract from 306k). Only being a given if those shares were from conversion issuance.
God forgive if that conversion number is just a little higher than .0033 combined...eh?...like 6% higher? so...I'm still here man:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149595034
Whatcha' got?
In the sweet spot..should be right around 109 Mill'. I threw out July 3/5th in the calculation.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149595034 (conversions stated based on 4.99% of outstanding..could have been broken up more)
It gets more difficult down here given the drop in early June and then low of .001
This now tests the volatility model used for debt covenants..etc. With that said, the .001 low is a steady lock number to calculate. The only problem with that though.....is that there is not much left to calculate.
You mean...like...Math? :)
Sorry man...I didn't have to explain how inventory works.."for you". You got that. The trailing or forward is a catch though because issued isn't the same as "sold into the market"..eh?
Use this start date:
As of May 17, 2019, the registrant had 514,474,972
Add up the total volume from that point to 6/29/2019(565,474,972)
So 51 Million shares divided by total volume equates to inventory turn. The catch is...whether it is trailing or forward. When the next update is dramatically lower tan 4.99% of outstanding, that is the turn and when the long outdated consolidation will come into play. I get you though...seems turns are @ a rough 15 points of volume. And your numbers are there of course. Does the transfer agent wait until the complete tranche has been issued(4.99) in order to update? Maybe they are not converting the entire 4.99 and cutting it in half(two tranches). ??
ps...I got your mess.. didn't understand at first ;)...gotcha ya now'
No problem...I just shredded by pork butt that I started Saturday evening. I ate too many burnt ends....and not sure where the hell I am currently.
Not quite. My notes are a bit unorganized due to a pork butt I smoked over the weekend. Priorities.
I started it though. It's just a rehash that needs tightened.
Not following you. I'm not associating the newly authorized with the unrelated third party debt. I'm associating that with the :
"we are engaged in negotiations that will involve the issuance of capital stock."
I don't mean that in a negative way.
Newly authorized share structure becomes effective tomorrow via Nevada. Pay attention to that.
You are putting too much noise into the equation. Just my opinion.
You have to give up on identifying certain market Makers as given culprits. It really doesn't work that way. Same goes with regards to this notion of cross trades. If it were that obvious then it would be "that" easy. With regards to this:
"Wish we had a handle on this ongoing conversions"
I do have a handle on such...and so should you :). Volume...4.99% convertibles relative to outstanding...relative to total volume...relative to turning inventory. It's in the math.
It's still not easy with regards to dollar turns...but it eliminates guessing. Formulas work only if they are tested. It may not be exact...but damn!...when is nature ever exact?....eh?
It's just a Registered Agent change within this Company's Subsidiary. Normally I would wink here. There will be more shares coming into market as well. The conversions are not over and I am going to spreadsheet this bitch' over the week end. Nothing more from me on the subject til next week.
Have a great Holiday!
Nope....and you apparently have the wrong ticker in your link:). I don't do JAVA though anyhow. I primarily use Mozilla...and they do not support JAVA now.
Again...cross trades? It will be over when that debt runs out. They do not want to "take it down"...they just want to turn their inventory efficiently. Debt holders do not want the price to drop. They want appropriate volume to turn inventory. Nothing else.
That is "ihub board talk". If a Maker covered an entire tranche or two parts of a single tranche....etc..fine. I am just counting down the clock currently. I would love for this to wrap up by next weekend. :) I don't know though ;)
No. He is an "operational change agent". He makes $60k per year. This entity told everyone what was happening in two PRE14 filings..confirmed by subsequent DEF14 filings.
They are changing their name...electing new board members(staggered)...and are in negotiations that will require the issuance of capital stock(hence the latest raise). The first DEF14 allowed for the authorization of "issuance" of preferred stock(which is capital stock).
The last amendment becomes effective via Nevada on July 8th.
Not really. Seems fairly apparent to me that he is a facilitator during change. He seems like a clean cat....refer to his current summary via linkedin:
Summary
My purpose is to make a meaningful difference as an operational change agent by implementing innovative solutions that enhance the end-to-end efficiency and effectiveness of the business.
Specialties: Online Banking Services, AML/Fraud Monitoring Solutions, Data Security, Data Processing Automation, End-to-End IT Production Support Services, Reusable Process Improvement Solutions, Technology Operational Design and Implementation, Multi-Channel delivery system integration (online, mobile, phone, and retail store locations), Vendor Management, and Merger Integrations.
https://www.linkedin.com/in/matthew-d-alpeter-22a5b54
Why is the outstanding increasing by "on the nose" numbers? ..... ie. .. 25-26?
You cats are so late to this party. Well..not really. But yeah :)..well....no ;)
These are quality like minded individuals. Tahira Rehmatullah is top notch to say the least.
It's strange. I made fun of these clowns. Now I am not. They are not clowns....just think they put faith before anything and everything else which killed execution. Fowler and Critz left PIP in October of 2018.
Knowing that related party debt sits with PIP makes this more important. You know how I love "related party debt"..ha!
p.s...how's the ship/barge building going?
Want to know more?
I retired from aerospace and oil and gas consulting after a major merger when I was 49. Moved to Vail, Colorado where I worked as a ski instructor and met lots of homeowners on the mountain who inquired about my engineering background and if I could inspect their home, roof, deck, hydronic heating systems etc. That eventually led to hiring 8 additional engineers and the rest as they say is history. We love what we do and helping home owners deal with the complexity of todays homes is what we do best.
Just some cat that got bored being retired and being a ski bum'...does things on the side I guess...eh?
https://www.arielhi.com/about-us/
See this cat with the green hair:
Just a sample of his past:
Drew Thacker is the president and managing director of the New Millennium Nuclear Technologies (NMNT) responsible for the development and direction of the North America client base and our corporate offices in Dallas, Texas.
Drew has had extensive experience in managing and developing the growth of global clients such as Southwest Airlines, Pennzoil, Compaq Computer, Earthgrains, FINA, National Semiconductor, and Trans World Airlines. ISO 9000/14001 implementations were introduced into several oil and energy companies under his guidance and he previously served as Senior Vice President, the Americas, responsible for all North America and was managing director of Latin American business for a major consulting practice. Dr. Thacker has had solid experience in operations management for more than 20 years in executive level positions including: Senior Vice President of Manufacturing Development and Support for the LTV, Vought Aerospace Group where he was instrumental in orchestrating development of the B-2 "Stealth Bomber", Vice President and General Manager, General Dynamics, Abilene Division where he led production operations for Cruise Missile and component production for F-16 programs; Corporate Director of Engineering for Northern Telecom and Hewlett-Packard leveraging the integration of telecommunications with computing platforms.
He has served in several advisory positions as a board of director member for LINCX Communications, member of the President’s Scientific Advisory Board - Robotics and Automation; keynote speaker for "American Machinist" and has been published in Aviation Week and American Machinist.
Dr. Thacker’s research and practice have focused on the links between technology, business strategy, and organizational development; on effective implementation of new processes in the workplace; and on the critical policy decisions senior management must address to exploit the business opportunities of globalization, process redesign, employee empowerment, and information technologies. His emphasis and results are in the positive impact on measuring and enhancing return-on-capital of client firms.
Undergraduate degrees from California State Polytechnic University in Aerospace Engineering and Industrial Management have been augmented with advanced degrees as an alumnus from Claremont Graduate University where he studied under guidance of Peter Drucker and has incorporated his "integrated management approach" into his firm's practice.
What the f' are they building?
https://patents.google.com/patent/US20180278133A1/en?assignee=power+it+perfect&oq=assignee:(power+it+perfect
Here is part one(sorry)....it has to be so. I want to show the how the debt covenant plays into this. First we start with the ending balance from Feb 28:
12,096,152 shares outstanding
$306,082 total convertible short term unrelated third party debt
Skewed worst case conversion factors based on a low price of .006 and a low close of .0073 between and including the dates of 4/15 and 5/31(June 3rd low and close was .007)
.0033 -Auctus conversion factor(starting 5/06)
.0046 -Power Up conversion factor
.0019 -EMA conversion factor* see note
Auctus debt of 91,659/.0033 = 27,775,454 shares converted
EMA debt of 47,758/.0019 = 25,135,798 shares converted
Power Up debt of 166,675/.00406 = 41,052,956 shares converted
Total equals 93,964,208 shares converted. Add that to the outstanding of 12,096,152 shares equals 106,060,360 total outstanding at full conversion of shares.
Remember ...I have skewed this to the negative. Without a skew, it would be below 100 million. That is where the debt covenant comes into play and why anyone playing this in April(19 mill outstanding) should have known that the outstanding was due to increase by 500 percent. I just want that to sink in for a second. The June 4th drop means adjustment time. I also excluded the subsequent events showing less debt. On June 4th...there would have been about 18 million shares left before the drop. That means just four conversions @ 4.99% of outstanding. I'll tighten it up in part two after a beer or two. I work better with some medicine
** note
The EMA note is being discounted @ 63.25%, not 50%. The multiplier I use is 26.75. Review the note...you'll see.
I'll show you tonight. I'll be as layman as I can be. Still sticking to this :
OMOLIVES Tuesday, 06/25/19 09:43:30 PM
Re: None 0
Post # of 1913
Roughly(plus/minus one) twenty conversions during the Month of May. There were 22 trading days in May. Twenty three trading days on and including June 3rd. There have been four conversions(plus/minus one) since then during the past 16 days. Oh yeahhhh! Remember the marker was set on April 1'st at 100 million minimal. Confirmed at 100 million "max" on April 15th. I've crunched it around 108 Million +/- 6% at 95% confidence(102-114 rough). Just need to refine.
You need to back to the first DEF14:
The date for determining the Stockholders entitled to receive this Information Statement was March 7, 2019, (the “Record Date”), at which time the Company had 12,692,930 shares of Common Stock issued and outstanding.
On March 7, 2019, the Company’s board of directors (the “ Board ”) approved and submitted for the approval of the Stockholders the Amendment to the Articles of Incorporation (the “ Company Actions ”). Effective March 8, 2019, the Majority Stockholders holding 6,560,000, representing 51.68% of the 12.,692,930 shares outstanding
Most important take aways:
1.authorize our board of directors to change our corporate name to a name selected by our directors;
-new Company, be it merger..et al
2.change the number of shares of capital stock we are authorized to issue to 500,000,000, consisting of 490,000,000 common shares and 10,000,000 preferred shares;
-!!Each of the convertible notes payable include a debt covenant stating that during the period the conversion right exists, the borrower will reserve from its authorized and unissued common stock a sufficient number of shares, free from preemptive rights, to provide for the issuance of common stock upon the full conversion of the notes issued pursuant to the securities purchase agreement. The borrower is required at all times to have authorized and reserved between five to ten times the number of shares that would be issuable upon full conversion of the note.
-!!This is the marker stating the outstanding share count was going to the 100 million mark. The only remaining note listed in subsequent events is from April....that doesn't convert til September
3.authorize the issuance of preferred stock with preferences, limitations, and relative rights designated by our board of directors;
-!!This marker states that they are ready to issue preferred for debt swap, merger..et al..etc.
4.designation of shares of Series E preferred stock that are entitled to the number of voted double all other votes
-!!This marker states that given the current dilution at that time, they needed to have voting shares or loose their voting power. Refer to the above record date. That majority went quick...eh? Without those series E shares...it was "almost" game over because the other Preferred shares are meant for the other things.
There were no plans to issue capital stock at said time stated in the overview:
There are no present plans, understandings or agreements, and we are not engaged in any negotiations that will involve the issuance of capital stock. However, the board of directors believes it prudent to have shares of common stock and preferred stock available for such corporate purposes as the board of directors may from time to time deem necessary and advisable including, without limitation, acquisitions, the raising of additional capital and assurance of flexibility of action in the future.
Now on to the last DEF14:
1 Our Amendment to our Articles of Incorporation will increase the number of common shares we are authorized to issue from 490,000,000 to 2.5 billion.
2.There are present plans, understandings or agreements, and we are engaged in negotiations that will involve the issuance of capital stock. Accordingly, the board of directors believes it prudent to have shares of common stock and preferred stock available for such corporate purposes as the board of directors may from time to time deem necessary and advisable including, without limitation, acquisitions, the raising of additional capital and assurance of flexibility of action in the future.
So facts are facts. They first raised the Authorized five times to cover the full conversion of the notes issued. The raise was set at 500 Million marking the outstanding cap to be around 100 Million. They are changing the name of the Company, and there "are" current plans for acquisitions, the raising of additional capital and assurance of flexibility of action in the future .
So I will continue to study inventory turns with regards to shares, and then speculate on what the target is...and hope they don't screw it up. It's all about frequency and playing within that frequency.
? Yes "dude". They have to vote.
"Im seeing you going all over the place here about debt being paid off yet still conversions, now its some magic engine."
Actually..I have been very precise. That has been proven.
Decided to finally come out of the wood work eh? They don't see to get it man...and so it goes.
The sample is too short actually. I run 21% on volume. If such were the case ... crunch that at a rough 42 Million. Such would equate to 8.8 Million. Again..it's a short sample, but I do feel that two conversions were made since Friday(ish).
? What are you talking about. Series E shares are subordinate to all other shares. They have superior voting rights(no liquidation value)..as in..to vote on merger et al. The other preferred that is able to be issued on July 8th(via Nevada) is superior to the Series E.
"Common should control these tickers, whoever amass the total shares. Not some backroom shady POS dealings. Get that thru ur head."
Like I would want "Johnny Retail" controlling these things. No
This is merely a frequency trade based on inventory turns on an extinguished debt cycle. It is compounded by the fully diluted share count marker currently and prior to September 2019. Also, recent corporate actions involving Name change and authorizing the "issuance" of preferred shares(not series E). I'm just being real here....nothing more
You are not seeing the reason for the DEF14 authorizing the issuance of Preferred shares...are you?
Oh...just one more thing:
Larry Blevins
https://patents.google.com/?inventor=Larry+James+BLEVINS
The S-1/a filed 06/08/2015 :
https://www.otcmarkets.com/filing/html?id=10749301&guid=2wQxUK5xX2buryh
...ha!...ha!