is...retired
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Ok, that is fine.
The poster suggested bugging management constantly about DTC. That isn't the (only) problem. NSAV has intentionally not joined DTC. Ostensibly, because it makes it easier to short, but that's a red herring.
Anyone with half a brain knows you don't short penny stocks, (because it makes no financial sense) and almost no brokerage will even permit it. Etrade won't let you short anything under $5.00. It is in writing on their website. Call your own brokerage and simply ask the question - Can I short penny stocks? I've asked this question for years, but no one has ever told me of any brokerage that permits it - if you think you can short NSAV with your brokerage, tell me the brokerage and I will call them myself.
So, will NSAV run? Most likely, since it did it twice last year. BUT: we don't know why.
It isn't just about unrestricting them. They also have to be registered. And that still won't fix the DTC problem. NSAV would still have to arrange to become DTC registered after that.
To date, all of us with restricted shares have had to go through NSAV's lawyer to get those shares registered and unrestricted. He charges about $500 per shareholder to do that. Considering the thousands of shareholders that may have restricted shares, that is a pretty profitable little enterprise.
I'm just waiting to see if they can uplist. All of those shares will have to become free-trading in order to uplist. The only question that remains is will I live to see it. But my partner has been designated as my beneficiary, and knows what to do in the event of my demise. Eventually those 'free' shares will actually be free for those of us who chose to wait instead of padding Vic's pockets.
NSAV has never registered its shares with DTC . (Depository Trust Company) In fact it has not registered 10% of its shares anywhere. I have some of them.
NSAV will have to be registered with the DTC in order to rise out of the pinks. That is already a stated goal, but there are a number of issues to be resolved, not the least of which is becoming an SEC filer and having audited financials. NSAV tried to change accountants, and got in a fight with the new accountants because of stock irregularities. The new accountant quit and NSAV went back to the current one.
Becoming DTC registered means the stock will be held by, and issued from the DTC. If you look at other companies in the OTC, or any company above pink, their Company Profile will have an entry for 'Held by DTC'.
In other words, becoming DTC isn't holding anything back, because there are much larger issues to resolve first. If you want to ask them anything, ask them to uplist out of the pinks. That, alone, would resolve the DTC issue, and fix all the other irregularities, as well as taking them from alternative reporting to SEC reporting.
They are not going to 'fix the problem'. Get with Etrade or another broker that will trade them, IF you want NSAV shares.
Bugging them will not fix it. It is a corporate decision that will only change when they are forced to, by trying to uplist, etc.
Get it right. There is no 'chill'. That is a bogus response, probably from a computer error list. NSAV is not a member of DTC, and THAT is the problem. NSAV also has unregistered shares out (I have a half mil of them) which also would not be permitted under DTC auspices.
If you look hard enough on this board, probably somewhere in 2018, JT explained why he didn't want to become DTC compliant. I remember it clearly, but I'm not going to try to find it again. It IS on this board, however.
NSAV is not DTC compliant, never has been. TDA won't trade it for that reason. That was a JT choice, and it remains that way. There will never be an uplist until they become DTC compliant.
Because everyone has their own way of trading. Some have tons of shares, others don't. Some are in the green, others in the red. Each situation can take advantage of different ways of trading.
But, you don't know if it is shareholders 'stacking' or MM's who control whether they trade by setting the spread as they need.
In my case, I have an excess of shares but I won't let them go until they meet my ask. I have a few million shares for sale at $.02 right now that I bought at $.01. As the share price approaches that level, one or more trades will be triggered. It may take days to weeks to fill, but it usually does. My sells are set for 60 days, and I don't have to do anything except watch what happens. This kind of trading does not affect any other traders. I simply supply shares at my price to those wanting them.
Wait until payday. Guaranteed drop.
There is no incentive for MM's to manipulate.
First, they get paid on the spread, not on the share price.
Second, they get paid both on the sell side and the buy side for each trade.
Third, the market is automated, no people decide how to manipulate stinky pinkies.
But mainly, it is because they get paid on the spread only.
If an MM sets their ask too high, other MM's will get the trades.
If they set the bid too low, other MM's will get the trades.
If you offer to buy shares or sell shares within an MM's spread, the trade is made. They HAVE to fill the trade by law.
If you offer to buy a penny stock for a dollar, you will get it for a penny, IF it is within an MM's spread.
Lastly, every trade leaves an audit trail. Every transaction is recorded - who sold, who bought, at what prices, when, and by which MM's. Computers are used to audit these transactions to sniff out any problems. No MM could get away with 'cheating' because the fines would be thousands of times what could be made on a pinky. If an employee of an MM decided to cheat, he/she would not be an employee for long, BECAUSE everything is recorded, forever.
If anyone thinks differently, it sucks to be you. You don't understand how the system works, but you give it your money. You don't seem to understand it is buyers and sellers that change the prices. MM's merely perform the transaction. Without them, you would seldom be able to buy OR sell stocks.
Ex-dividend day. Anyone who sold today still gets the dividend, and their cash besides.
I didn't call you anything. I was merely explaining why you don't buy shares back with borrowed money that you have no intention of repaying in cash.
It's not an SEC regulation, it is common sense.
Why would you buy 1 million shares at full market price, then give them back at half price to pay bills? You would pay 2 million shares and in fact INCREASE the OS in the process.
The additional shares in the AS are to guarantee convertible loans can be paid with shares. NSAV lives by using convertible loans to keep the doors open. They are usually due within one year and they are worth about half of the current share price.
It is illegal to take out a convertible loan without having the shares in the AS to convert them. So, the shares had to be added because there were not enough shares left in the AS to support their way of business.
It will remain like this until NSAV makes enough money to pay off its loans with cash.
There will be no buyback for the foreseeable future. You don't buy back shares with borrowed money and then give them back at half price.
I don't think NSAV management needs to 'correct' people that don't even understand the difference between common shares and preferred shares.
Don't argue with stupid people - they will lower you to their level and beat you with experience.
Must be the Lucy from Peanuts.
Yes, I know, they posted part of it, then filed an extension, then filed the rest before using the extension. fine. first time not actually late.
You know, that's what I'm doing too. Some that I sold above $.05 has been used to buy at $.01. Those will be sold below $.05, just to eke out a little extra cash. I have maybe 20M that are not in trips out of about 120M. Those are the flippers.
Try again. NOT posted yet. There is a difference between talking about fins and actually posting the results officially.
Fins are delayed again...
Reason for Delay in Posting Financial Report:
State below in reasonable detail why the Annual/Quarterly Report could not be filed within the prescribed time period.
,The financial statements are not yet completed and cannot be completed by the required filing date without unreasonable cost and effort.
Anticipated Filing Date:
[Please note that the filing of this notification grants issuers 5 additional calendar days to post a Quarterly or Interim Report and 15 calendar days to post an Annual Report.]
May 20, 2022
I can't see any reason to say this quarter is 'better'. Debt is rising quickly, and there is no revenue to cover it. Something will have to happen, and soon.
NSAV's operating capital comes from convertible loans. You can see them in the fins. They are due one year after, not paid over multiple years. You can also see that they are paid with common shares at about half market price.
The first glimmer of a turnaround will be when they can quit borrowing to keep the doors open. Not there yet.
About what I expected. But those salaries are killing it. Debt going up. Conversions on the horizon (last year's loans come due this year.) With no cash, those will be paid with common shares.
I'm just sayin' it was ALREADY 10 years. Adding another 10 years is really ridiculous for a stinky pinky.
It is really meaningless, and I consider it a pump. The company articles of incorporation are something that the board of directors sets up. The same people can rescind this and then announce a RS. In other words, THEY are in charge of the articles, and can change it at will. There is no law that holds them to any statements in the articles, except for share counts and types.
This change has only one purpose: to keep people from TALKING about RS.
Spreads change all the time. That's how you know each MM's demand. If you sell into the spread, they have to buy your shares. If they get an excess, they may change the spread to quit accumulating. Or, if they NEED shares to fill an order, they may change their bid to get them faster.
Lastly, if they don't have enough, but can find them for sale at any price, they can borrow (not buy) them and replace them later. Technically, it is shorting, but that's not why they do it and they virtually always close out by end of day. They do it because their income is solely based on their spread, and filling an order with borrowed shares works to give them the commissions.
That is interesting. I've bought and sold this for years, but i always trade at a limit when buying or selling.
So, I sold 1000 shares at market this morning. No problem selling.
Then, I bought 1000 shares at market, and that was not permitted.
I changed it to a limit buy, but set my limit at .01, which is well above current price. Instantly filled.
So, selling at market, which is what drops the price, is absolutely permitted.
The share price of NSAV NEVER goes up after fins are posted. You should know that, you've been here longer than me, and I've been here for 5 years. Traders can't take the price down except by selling at market. That would be dumb because it would be a guaranteed loss.
Inside traders aren't buying or selling. They can only trade during the 30 days following release of fins. Been there, done that. Used to be a director in a public company.
The price decline is due to one and only one thing: traders selling at market. That is all it takes.
It probably won't be filed until after hours Monday, the 16th, and the SP will probably fall, as it always does.
You should consider why the assets and liabilities match to the dollar. That would be next to impossible, if it was real.
I know how real companies work. I also know how stinky pinkies work. They are not the same. There IS no value in acquisitions, if they don't make any money.
That is not what the fins state. Goodwill is listed at $19,520,000.
Total assets:
TOTAL ASSETS 49,370,113
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) 49,370,113
That should explain it. Notice that they are exactly equal?
Goodwill was added to assets to offset the liabilities. Goodwill is essentially meaningless. It is a made up number.
The preferred shares are not dilutive. The common shares won't be unless they are used to convert loans, which is why we're at a 6B OS. NSAV has never paid a loan off with cash.
Last year's loans are to be converted at 50% share price. So, some loans from last year are being paid off with shares at half price this year. That's why they had to increase the common share AS.
Actually, I did get a partial fill. Just got internet back. My order is for 2M shares, got about 1.3M. Already green on them...
Preferred shares is really meaningless to us. Doesn't relieve the OS at all.
They can't borrow convertible loans unless there are shares in the AS to cover the conversion.
Did not fill yet. Xfinity has internet down all day , so i didn't catch much. I imagine others are waiting for .01 too. I'm patient.
On the other hand, earnings are DUE in a week, but they never file on time, so it will probably be 2 weeks.
Additionally, these last two AS increases won't show up in the Q1 filing because they were both after Q1 end. It is pretty obvious to me that if they changed the AS 3 times in a year and a quarter, there is no reason to assume they are done with it.
Since the SP drops with each financial release, I may finally get my $.01's...if not sooner.
Increasing AS over time. AS = total number of shares that 'can' be issued.
February, 2021
"1. Authorized Shares. The aggregate number of shares which the corporation shall have authority to issue is seven billion (7,000,000,000) shares, consisting of three classes to be designated, respectively, "Common Stock", "Series A Preferred Stock", and "Series B Preferred Stock"; the Common Stock shall have a par value of $0.001 per share, the Series A Preferred Stock shall have a par value of $0.00001 per share, and the Series B Preferred Stock shall have a par value of $0.00001 per share. The total number of shares of Common Stock that the corporation shall have authority to issue is six billion (6,000,000,000) shares. The total number of shares of Series A Preferred Stock the corporation shall have authority to issue is two hundred and twenty-five million (225,000,000) shares.
The total number of shares of Series B Preferred Stock the corporation shall have the authority to issue is seven hundred and seventy-five million (775,000,000) shares.
4/14/2022
1. Authorized Shares. The aggregate number of shares which the corporation shall have authority to issue is seven billion, five hundred million (7,500,000,000) shares, consisting of three classes to be designated, respectively, "Common Stock", "Series A Preferred Stock", and "Series B Preferred Stock"; the Common Stock shall have a par value of $0.001 per share, the Series A Preferred Stock shall have a par value of $0.00001 per share, and the Series B Preferred Stock shall have a par value of $0.00001 per share. The total number of shares of Common Stock that the corporation shall have authority to issue is six billion (6,000,000,000) shares. The total number of shares of Series A Preferred Stock the corporation shall have authority to issue is two hundred and twenty-five million (225,000,000) shares. The total number of shares of Series B Preferred Stock the corporation shall have the authority to issue is one billion, two hundred and seventy-five million (1,275,000,000) shares.
5/8/2022
1. Authorized Shares. The aggregate number of shares which the corporation shall have authority to issue is eight billion (8,000,000,000) shares, consisting of three classes to be designated, respectively, "Common Stock", "Series A Preferred Stock", and "Series B Preferred Stock"; the Common Stock shall have a par value of $0.001 per share, the Series A Preferred Stock shall have a par value of $0.00001 per share, and the Series B Preferred Stock shall have a par value of $0.00001 per share. The total number of shares of Common Stock that the corporation shall have authority to issue is six billion, five hundred million (6,500,000,000) shares. The total number of shares of Series A Preferred Stock the corporation shall have authority to issue is two hundred and twenty-five million (225,000,000) shares. The total number of shares of Series B Preferred Stock the corporation shall have the authority to issue is one billion, two hundred and seventy-five million (1,275,000,000)
shares.
Increasing the number of common shares does not bode well for a stated intention to buy back common shares...
In the filings, it can be seen how high the (back) officer compensation is. The preferred B shares are to be used to pay those salaries, among other things.
From Annual report:
The Company accrued wages for its current President and CEO at a rate of $120,000 per year, along with other employees of the Company. As of December 31, 2021 and December 31, 2020, the Company owed a total of $2,473,016 and $747,564 respectively, to the current and predecessor President and CEO of the Company for back due wages.
It's on the PR newswire, where anyone can look. They have not updated their own web page yet. Probably by tomorrow some time.
Dumb.
I don't want to buy at market, which is what a bid of $1 would be. I want to buy at $.01, and will wait until it gets there, if it does.
I've had a bid in at $.01 for weeks. It gets close, but there is always some buying that keeps it above. I have a suspicion that there's a reason for that. Someone doesn't want it to drop below.