Forming an opinion
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New lows coming, brace for impact!
Sellers are wearing out the buyers, might go red now.
Time to close gap!
Umm the stock dropped almost 50%, it might be good for the company but not the stockholders. Dilution!
here's a clip of part of the 8-k: On May 25, 2017 BTCS, Inc. (the “ Company ”) raised $1 million in cash from four institutional investors in exchange for the issuance of $1,111,111 of a new class of Series C Convertible Preferred Stock (“ Series C ”) and three types of warrants as described below. The 79,368 Series C shares are initially convertible into 15,873,600 shares of common stock. The Series C is convertible at $0.7 per share or approximately $0.063 per share after giving effect to the additional $111,1111, subject to reduction in the event of future sales of equity securities and common stock equivalents (with customary exemptions) at a lower price. The Company is subject to a number of customary covenants and a restriction on the incurrence of indebtedness for one year. Within 120 days, the Company has agreed to file a registration statement covering the common stock issuable upon exercise of the registrable securities described below. The registration statement will cover 47,302,176 shares of common underlying the Series A Warrants, Additional Warrants, and Bonus Warrants, which warrants are described below:
15,873,600 Series A Warrants exercisable at $0.085 per share, subject to adjustment, over a five-year period;
15,714,288 Additional Warrants exercisable at $0.085 per share, subject to adjustment, over a period which is the earlier of (i) one-year after the effective date of a registration statement covering the warrant shares, or (ii) three years from the date of issuance. The Additional Warrants are callable by the Company for nominal consideration if the common stock trades above $0.17 per share and the daily volume is more than $50,000 for at least 20 trading days;
15,714,288 Bonus Warrants exercisable at $0.17 per share, over a three-year period. The Bonus Warrants are also callable for nominal consideration but the threshold price is more than $0.30 per share.
What a chitty azz company to release an 8-k 3 seconds before the open about convertables to sucker in bounce players...
Do a market sell on all your shares in the morning so we can get some cheaper cheapies...
Have a super day.
Ok Captain Obvious.
You should be a financial adviser.
"It's not a loss until you sell"
Going lower, looks like .003's soon
Who's spending their weekend at BRNE's?
Going lower, here come the .004's
And it gaps up....lol.
Not sure where you read that, "Common stock, par value $0.001; 2,000,000,000 shares authorized, 327,613,995 and 127,012,740 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively"
then there's this: "The accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying financial statements during three months ended March 31, 2017, the Company incurred net losses of $2,472,107 and has a working capital deficit (current liabilities in excess of current assets) of $5,895,202. These factors among others may indicate that the Company will be unable to continue as a going concern for a reasonable period of time.
The Company’s primary source of operating funds in 2016 and 2017 has been from revenue generated from sales with additional cash proceeds from the sale of common stock and the issuance of convertible and other debt. The Company has experienced net losses and negative cash flows from operations since inception, but expects these conditions to improve in 2017 and beyond as it develops its business model. The Company has stockholders’ deficiencies at March 31, 2017 and requires additional financing to fund future operations.
The Company’s existence is dependent upon management’s ability to develop profitable operations , to obtain additional funding sources and realize revenues from the Asset Sale and Lease Agreement described herein . There can be no assurance that the Company’s financing efforts or revenues realized from the Asset Sale and Lease Agreement will result in profitable operations or the resolution of the Company’s liquidity problems. The accompanying statements do not include any adjustments that might result should the Company be unable to continue as a going concern."
Hopefully USRM gets their approval and everyone can make money...
I think so too, I see FNMAS on the halt list...plus they are all halts, not suspensions so they will open back up on the regular OTC exchange and not greys.
This stock has a lot of bid whackers this morning, good luck.
Looks like dilution.
No, needs to consolidate. Down 27% currently
Todays chart is indicating a lower low...we'll see.
Shorts should be covering soon, could bounce.
Same here, on a friday again too, uggggg. Not over yet but damn.
First you say .02 now it's going subpenny? Both huh? Lol
We have received subpoenas in the Securities and Exchange Commission investigation now known as “In the Matter of Certain Stock Promotions,” the consequences of which are unknown .
As disclosed in Item 3. Litigation, below, on May 21, 2014 we received a subpoena from the Securities and Exchange Commission, or the SEC, that stated that the staff of the SEC is conducting an investigation now known as “In the Matter of Certain Stock Promotions,” and that the subpoena was issued as part of an investigation as to whether certain investor relations firms and their clients engaged in market manipulation. The SEC’s subpoena and accompanying letter did not indicate whether we are, or are not, under investigation. We have provided testimony to the SEC and produced documents in response to that subpoena and several additional subpoenas from the SEC in connection with that matter, including a subpoena issued on March 1, 2016 requesting information relating to a transaction involving our Series H preferred shares in December 2013. The SEC may in the future require us to produce additional documents or information, or seek testimony from other members of our management team.
In connection with the SEC investigation, in May 2015, we received information from the SEC that it is continuing an investigation of the company and certain of our current and former officers, consultants of the company and others, of “possible violation[s]” of Section 17(a) of the Securities Act and Sections 9(a) and 10(b) of the Exchange Act and the rules of the SEC thereunder in the offer or sale of securities and certain other matters with respect to which the SEC claims it has information, including the possible market manipulation of our securities dating back to January 2013. Based upon our internal investigations, we do not believe either our company or any of our current or former officers or directors engaged in any activities that violated applicable securities laws. We intend to continue to work with the staff of the SEC towards a resolution and to supplement our disclosure regarding the SEC’s investigation accordingly.
We are unaware of the scope or timing of the SEC’s investigation. As a result, we do not know how the SEC investigation is proceeding, when the investigation will be concluded, or if we will become involved to a greater extent than providing documents and testimony to the SEC. We also are unable to predict what action, if any, might be taken in the future by the SEC or its staff as a result of the matters that are the subject to its investigation or what impact, if any, the cost of continuing to respond to subpoenas might have on our financial position, results of operations, or cash flows. We have not established any provision for losses in respect of this matter. In addition, complying with any such future requests by the SEC for documents or testimony could distract the time and attention of our officers and directors or divert our resources away from ongoing business matters. Furthermore, it is possible that we currently are, or may hereafter become a target of the SEC’s investigation. Any such investigation could result in significant legal expenses, the diversion of management’s attention from our business, damage to our business and reputation, and could subject us to a wide range of remedies, including an SEC enforcement action. There can be no assurance that any final resolution of this and any similar matters will not have a material adverse effect on our financial condition or results of operations.
Looks they sold them this morning!
Looks like .013 coming shortly
Whoever pumped this did a good job, now they doing a good job on the dump.
idk but my long term sell orders filled at .399 too! lol
Already set to dip, so much for your prediction. Just printed .035...
Your motives are quite clear now. From Friday:
ACOL @0.0146 Coming up
We got a confirmed winner here, I hope everyone does well. ACOL
ADX cross positive 60Min, RSI is oversold. Huge volume filled gaps up. Lets rock and roll. Expect a down day here and there so control of emotions is crucial. ACOL
MAXM is like, "I'm back b*tches!"
Good luck if you aren't able to get out today.
The problem today is that the D comes off tonight, so tomorrow you will more than likely not be able to sell. Just my past experience, maybe things have changed but usually brokers take their time with symbol changes.
If this drops another 95% today it will drop to .0008, just food for thought.
Not sure what is confusing to you, article states r/s on 28th of Dec. and D comes off on the 24th of January...pretty straight forward.
How the hell is a 95% drop in one day and a two week drop from $3 not a collapse??? wtf
Einstein nor anyone else can predict the actions of any stock. There simply is no equation that can predict what someone will do with their money in the stock market. If you can find an Einstein equation for buying and selling stocks please let me know, thanks.
I didn't think there was a chance this stock could drop 95% in a day but it did. Take care.