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Maybe it'll be a Thursday release. Then watch what happens on Friday!
It's only going to get better with each successive news release.
Great post V! EPGL in 2016 will be a phenomenom!
There are business and tax advantages to waiting until the new year. I see the COO/VGTL deal as a slim chance by year end, but come January...
Whoohooo!!! Hang on baby!
Well, if it goes to 2, we can buy twice as many as now for the same price!
I'll take that.
Nice. Thanks for the info and link!
That and her comment to us shareholders in video #15 makes for intrresting times ahead.
Sorry to hear that. Hopefully, if this COO deal goes through you'll get them back three times over!
That's the plain truth of the matter.
If the published agreement stated they could discontinue, how is he lying if they discontinued it? I'm not agreeing with his philosophy and business practices. I'm only going by the published reports.
They officially announced Jan 29 that they agreed to retire shares at a rate of 50 million per month at a cost of over 3 million per month to them (their shares they were buying back) as a gesture towards the stockholders. They commenced with that during the 2nd quarter as the next financial for the period April thru June showed a retirement of 50 million. Then they discontinued it. By the way, they also said it was non-binding and they could discontinue the share retirement when either party decided. EOM.
I don't believe it is necessary for INMG to rs either as I've mentioned in previous posts. I was only commenting on the procedure for any company to reduce, not issued, but authorized shares without having to repurchase them.
I too am holding long on INMG.
If it plays out like Tom has planned and with all of his revenue streams, it's a good choice for a pink.
That was a capital restructuring involving an aquisition and name change in Washington State. The link that you sent (thanks for that by the way) appears to say that even if the share reduction applies to authorized, it is a direct result of the buy back of issued shares and the rules are somewhat different in California. It appears that the bylaws of the corporation would have to specifically state the retired shares were prohibited from being reissued. Then the authorized would be reduced.
Your link stated:
"Under the law of some states, including Delaware and New York, a company that repurchases its own shares has two main options:
(1) hold them as treasury shares (i.e., shares that have been authorized and issued but generally are not considered outstanding), or
(2) retire the repurchased shares (some states, such as New York, use the term “cancellation” to express a concept similar to that of “retirement” under Delaware law).
Generally speaking, retirement of shares results in them resuming the status of shares that are authorized for issuance but not issued. In certain circumstances, such as where the certificate of incorporation prohibits the re-
issuance of retired shares, when shares are retired the number of authorized shares must be accordingly reduced by making an appropriate filing with the Secretary of State.
The concept of treasury shares does not exist in some states, such as California, the laws of which provide that repurchased shares automatically are restored to the status of authorized but unissued shares (unless the company’s organizational documents prohibit their reissuance)."
That was a capital restructuring involving an aquisition and name change in Washington State. The link that you sent (thanks for that by the way) appears to say that even if the share reduction applies to authorized, it is a direct result of the buy back of issued shares and the rules are somewhat different in California. It appears that the bylaws of the corporation would have to specifically state the retired shares were prohibited from being reissued. Then the authorized would be reduced.
Your link stated:
"Under the law of some states, including Delaware and New York, a company that repurchases its own shares has two main options:
(1) hold them as treasury shares (i.e., shares that have been authorized and issued but generally are not considered outstanding), or
(2) retire the repurchased shares (some states, such as New York, use the term “cancellation” to express a concept similar to that of “retirement” under Delaware law).
Generally speaking, retirement of shares results in them resuming the status of shares that are authorized for issuance but not issued. In certain circumstances, such as where the certificate of incorporation prohibits the re-
issuance of retired shares, when shares are retired the number of authorized shares must be accordingly reduced by making an appropriate filing with the Secretary of State.
The concept of treasury shares does not exist in some states, such as California, the laws of which provide that repurchased shares automatically are restored to the status of authorized but unissued shares (unless the company’s organizational documents prohibit their reissuance)."
My mistake. It wasn't 70 million, it was 50 million retired although it's probably a moot point.
June filing (quarterly) for Jan thru Mar showed 4.668 billion outstanding.
Sep filing (annual) showed 4.618 billion outstanding.
With what they have in the works with COO they probably don't even need to worry about a share buy back.
Just look at the financials for yourself They retired 50 million within the first quarter that their pr indicated. But then half way through the second 50 million they stopped so if you take the time to look at the share structure during those months, it dropped by 70 million.
They did start it. They actually retired some 70 million over the course of a couple months. Look at their financial reports and the share structure between February and June.
Well I guess you can call it sour grapes. No one says he has to hold fast to a statement that he no longer endorses. It also helps his case that it was a joint retirement with PWC; 25 million per month apiece. They may have not wanted it in the first place and may have provided him some incentive to discontinue it.
Everybody thinks that everyone else has to stick to their word except themselves.
That's what I thought and that seems reasonable. Just get rid of whatever authorized shares you don't want since they haven't been issued yet. But I couldn't find any information on retiring authorized shares, only issued shares which would obviously require a buy back. The only way to reduce authorized if this is true is a RS.
Anybody have a link to retirement of AS?
Sounds like the real deal to me. I said it before in one of my previous posts. I don't blame EPGL (Hayes) for cancelling the share retirement plan based on the negative posts by the very ones it would have helped. There's so much insecurity among certain shareholders in the pinks and it takes very little to light many who invest in them off on a tirade.
If you don't like the way the stock is heading, get out of the kitchen. Complaining about something you can't change is the definition of an exercise in futility. They might as well shout at the wind.
According to Investopedia:
In order to retire stock, the company must first buy back the shares and then cancel them. shares can not be reissued on the market, and are considered to have no financial value. They are null and void of ownership in the company. Retired stock is repurchased from the money saved in the company's retained earnings. After the stock is repurchased, the issuer or transfer agent acting on behalf of the share issuer must follow a number of Securities and Exchange Commission rules regarding stock.
Read more: What happens when a company buys back its shares? http://www.investopedia.com/ask/answers/05/retiredstock.asp#ixzz3uQrj5xYV
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My concern is this: where are the funds coming from to retire the shares? The company has to buy them from the owners of the common stock. Right now it seems like it would be a difficult time to buy back shares just when the company is starting out. Tom needs all his resources to fund his various projects. I think he's going to have to wait until after Q2 2016 before considering that. He could come out with a PR this week that says they're planning on share retirement in the future, possibly Q1 or Q2, to somewhat address the concerns of some on this board. Would be a tactical move on his part. Whatever the case, the AS will stay the same because any retired shares come out of the issued and are returned as it were to the authorized. So if the authorized is 9.8 billion, it's still 9.8 billion after the share retirement. There are just less issued and/or outstanding.
Guess we'll have to wait for the 8-K. Hmm....
So I'm not exactly sure the process. Does it just involve submitting an 8-K to that effect? No money out of pocket?
Bill's twitter post from:
"We will be filing an 8-K regarding the retirement of 500 million shares of unrestricted common stock that are now out of the float & OS."
And, it's possible that if he's actually retiring the first 500 million, he may only be doing it 50 million per month and depending on more sales orders coming in the months ahead to support that.
Whoever is selling looks to be happy getting .0063 out of the deal. Looks like the small buys at market price are designed to keep the bid price just high enough to stay in that range. Someone wants out perhaps to play one of the other stocks. Whatever the reason, it's not a tremendous amount - maybe 1.5 million or so. Just looks like no one really wants to buy over .007
If everyone who buys in just doesn't sell for a loss but only for a gain no matter how small, lower priced shares will be replaced by higher priced shares and we'll see the pps go up. But in reality the flipping doesn't much matter because when AA delivers the news through the official channel with the approval of the BOD and whatever other interests are involved, we'll see some real growth.
I'll take 20 mil at 5.
So far there are roughly 3.4 billion issued common shares.
If Tom retires 1.8 billion of those, 1.6 billion remain, of which most all of those 1.6 billion make up the float. If the float is 1.6 billion and I've got 100 million, I've got over 6% of the float. I'm holding PAST .05 because I believe, after looking at the holdings of the company and the direction Tom is taking Innovativ Media Group in the entertainment industry, INMG will start a steady growth pattern and rise in the pps that will get it to at least .03, if not .05 over the next 4 to 9 months.
The 15 million I bought today for $3000 will be worth $150,000 at .01, let alone if it goes to .03 or .05.
If It stays where it's at in the next 6 months (do you really think with the last 10-Q, and with share retirement that it will?), I can always sell it for $1500 and take a $1500 loss.
The probability with INMG staying at .0001 over the next 3 months is far less than it going even to a modest .0006 where it climbed to 4 weeks ago.
It's all about probability...and coconuts.
GUARD #1: Where'd you get the coconut?
ARTHUR: We found them.
GUARD #1: Found them? In Mercea? The coconut's tropical!
ARTHUR: What do you mean?
GUARD #1: Well, this is a temperate zone.
ARTHUR: The swallow may fly south with the sun or the house martin
or the plumber may seek warmer climes in winter yet these are not
strangers to our land.
GUARD #1: Are you suggesting coconuts migrate?
ARTHUR: Not at all, they could be carried.
GUARD #1: What -- a swallow carrying a coconut?
ARTHUR: It could grip it by the husk!
GUARD #1: It's not a question of where he grips it! It's a simple
question of weight ratios! A five ounce bird could not carry a 1 pound
coconut.
ARTHUR: Well, it doesn't matter. Will you go and tell your master
that Arthur from the Court of Camelot is here.
GUARD #1: Listen, in order to maintain air-speed velocity, a swallow
needs to beat its wings 43 times every second, right?
ARTHUR: Please!
GUARD #1: Am I right?
ARTHUR: I'm not interested!
GUARD #2: It could be carried by an African swallow!
GUARD #1: Oh, yeah, an African swallow maybe, but not a European
swallow, that's my point.
GUARD #2: Oh, yeah, I agree with that...
ARTHUR: Will you ask your master if he wants to join my court
at Camelot?!
GUARD #1: But then of course African swallows are not migratory.
GUARD #2: Oh, yeah...
GUARD #1: So they couldn't bring a coconut back anyway...
[clop clop]
GUARD #2: Wait a minute -- supposing two swallows carried it together?
GUARD #1: No, they'd have to have it on a line.
GUARD #2: Well, simple! They'd just use a standard creeper!
GUARD #1: What, held under the dorsal guiding feathers?
GUARD #2: Well, why not?
Don't worry guys. Its's just me. .0002 is a steal for what this company has to offer. Just thought I'd take my share count up to an even 100 million.
Well, 6 months ago the price was at .0019. Now, the current publicized share structure is 27 million issued out of 200 million authorized. Supposedly, the float is at 17 million. So relatively speaking, there's not much stock floating around to buy. If you had 5 million of those issued shares 6 months ago purchased at .002, and you wanted to buy some gifts for the holidays, if you sold a million at .006 that's around a $4,000 profit on the sold shares. Not bad for an initial investment of $2,000. Subtract 20% for taxes and you're still doing okay. And if the stock is going up to .03 again with some news that AA is wanting to tell us, you're still in a great position with 4 million remaining.
If it goes to .0008, you'll see a ton of selling at .0007.
It's got to stay at .0007 today and tomorrow. Too much too soon will promote a sell-off.
Any amount of shares bought at .0075 or below, provided you've got the funds on hand, are a solid investment. AA has already informed us through unofficial social media that she is chomping at the bit to tell us the news. If it was bad, she would not have said anything at all.
I'll take 'em at '67!
Don't sweat it. It's a gamble for them every time they sell their shares that the news will come out and bump the price and leave them in the dark.
So far it's paid off for them, but the clock is ticking on VGTL.
I'd hate to sell at .007 and miss out on .03 with a 400% profit.
CES 2016 is January 6-9. 4-K, 8-K will be the soup du jour at the show.
VGTL and whoever is on board with VGTL will want to be well represented there in Las Vegas for the show. The pressure is on to lock the deal.
That's the truth. It was like pulling teeth trying to buy a little less than 500k today. Peeps are holding out as most of the posts are definitely going positive. You know that when the news comes out, this will instantly jump back to the previous high of .03.
You are absolutely correct. And I don't think Tom has any intention of tanking his own company. He's obviously got a lot riding on Innovativ Media Group. The solid sales from the last 10-Q show that.
Check out the 3 month stock chart on TPAC. I sold a few mil today at .0006 just in case it went down to .0004-.0005. I've got a buy order for those few mil at .0005, but the more I look at this the more it looks like a climb back up to .0008 or .0009 by Friday without any news. The chart is showing higher lows over the last three months.
RS would not be a negative if it were timed right. If it's been a while since news and company RS' d it would be perceived as an attempt by the company to sell (dillute) at a higher pps to pull money out and would tank the stock and the company. If timed immediately after a solid 10-Q that shows the last two quarterlies being positive with the most recent being the better of the two and an announcement of share retirement on an 8-K, the new pps has a good chance to hold. The RS should only be attempted if it takes this stock out of the pinks and uplists. That's just my opinion, but we've all seen what happens if a subpenny does an RS. It's got to get over a penny before the RS to ligitemize it.