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There are still some unissued shared in the A/S. He can use them for this. I don't know if she qualifies for the form 4 requirement. My guess is not, since we don't have one. I think it applies to 10% ownership peeps (insiders). I have other stocks that issue compensation shares for salary and they don't do a form 4 either. I've only seen it for the CEO and board members.
He hasn't personally lost anything. His shares cost .002. He's up quit a bit actually. If he actually sold any shares, that is.
I'm sure he has a target range of what the SP will be once the merger is completed. He's not worried about what it is today, and neither am I. And the increased float is meaningless in the long term. Really it's beneficial for the decreased volatility. I expect more to hit the float. It means nothing for longs. O/S is unchanged. Market cap is unchanged.
Do you have any facts to prove the CC debt has not been paid, either to the CC company or 3rd party collections? That would not be public information, so I'm guessing you don't have any idea.
One has to assume, with JC's current status as a successful entrepreneur, that he would have settled that long ago. It's irresponsible to say he committed fraud if you don't even know if the debt is still outstanding.
Furthermore, what share selling scheme? Can you show us when and how many shares he's sold?
You could always ask JC for the receipt of you have doubts.
Honestly, the transaction was recorded in the 8k. GRN Funds paid the money. JC owns 100% of GRN Funds. It didn't come from JC's personal acct, but it's still JC's money.
He'll probably plead to disorderly conduct and be on his way. That's how these things go in muni court.
There is no evidence of anything you just said.
When did he inform us of anything related to this? I thought the court documents showed he was released without charges. I guess they changed their mind. But either way, he's not obligated to inform shareholders until he's actually convicted of something.
I'm sure there are plenty of people here who's seen the inside of the local pokey. I find it amusing, that's all. Unless is was some sort of fraud related offense, it's irrelevant to me as a stockholder.
Still GREEN. Have a great weekend! :)
I'm ready! Carpet bomb this baby.
All current reports are accurate, as you are aware.
GRNF is a fully SEC compliant reporting company. It'll be accurate.
I think that's way to low. I'm just here for the ride, but I'm VERY confident my ride will be a Mercedes at this time next year. ;)
Also, I'm not saying it will happen this way, just that I think it's possible, based on my very limited research on it. I'm certainly no expert.
The stakes of companies transfers just like the rest. He's not buying additional stake, just changing ownership of the shares he owns.
And companies almost always give up equity when they go public. An IPO does it a different way, but it's still giving up anywhere from 15-40% depending on how much they want to raise. It's a tradeoff. In exchange for shareholder funding, you give them a part of the company. To JC, 45% was acceptable for the SEC reporting, no debt, clean shell.
Don't think of it as acquiring. Since he already owns these companies, he's not "buying" anything. He just has to designate the Holding Company as the new owner. This can be accomplished with an ownership transfer agreement.
If he wanted to purchase a new company, then yes, he'd probably issue shares.
OK, so he "helped raise" the money for kids. Classic narcissist. lol.
You forgot about the 700k he raised for the kids at Christmas. And the donations for the hurricane victims. Most narcissists don't even consider doing that. Real facts don't support your theory.
That's awesome! I'm anxious to get this thing rolling again. Dollars coming. :))
I'm not worried about JC. :)
LOL. Nobody throws out the billionaire card in that situation if it weren't true. FACTS! I'm buying more. heh.
The guys in charge had every incentive to hide what they were doing. Don't be so quick to judge. Especially since you weren't there.
Everyone here is invested in an outcome with this ticker.
Not a chance. Rigworx is not affiliated with Pilgrim whatsoever. It's a newish startup by Sam. The only connection is Pilgrim once paid Sam's salary.
Is it unusual? What's the normal time frame for a billion dollar, 10+ holding company to audit and merge? A regular IPO can take well over a year, so I don't think it's time to panic yet.
One time. The second was a court appearance related to the first incident, as I understand it.
Here's what happened:
1. Rigworx, private company in Wyoming, contracted Grassroots Advisory (Disanti) to find them an empty shell to reverse merge into, to go public.
2. Grassroots obtained UNRG (United Energy), via custodianship. Sam Smith took over as CEO of United Energy and reinstated UNRG with Nevada SOS.
3. United Energy filed articles of merger with Rigworx of Wyoming, giving Rigworx control of all shares of UNRG. UNRG is now effectively Rigworx.
3. Sam Smith filed for name change with Nevada, renamed United Energy to Rigworx. Any past filing you see from Rigworx in NV is from United Energy.
4. Grassroots (Disanti) officially relinquishes custodianship in NV, since UNRG now has an active ownership.
Next: FINRA name and symbol change. Then S8K completing merger by filling with assets.
Are you saying Rigworx is a shell company? Not following you.
And how involved was Sam with the Pilgrim fraud? It looks to me the CEO and Chairman were the ones responsible for the fraudulent activity when the SEC halted them. Sam took over as CEO after they resigned. Was it too far gone at that time for new CEO Sam to recover and he just got stuck with a dying company? I've never heard this explained adequately.
People just want to pin all that companies problems on Sam, but they way I read it, he didn't do anything wrong to put them on that path.
Complete and utter nonsense. Just pure made up fantasy.
How many shares has JC sold? All evidence points to none. Besides the fact his shares are locked, he can only shed a couple mil before he loses majority share of the company. Anyone think he would do that? And the former owners who sold some shares are not insiders, they are former owners. As in, irrelevant.
Also, if he did in fact have some bad debt that was written off and sold to 3rd party collections, we would have no public record if he actually paid that or not. It would be hard for a well-known and successful business man like JC to skip out on anything. So that's likely another false assumption.
Why would they not? Their shares were subpenny before JC took over. I defo would have sold some at $1.00 or 2.00, even if I knew it would go higher later. They only sold a fraction of what they own.
No complaints here.
I kinda chuckle when people say scam. Is it really? I've read every post here since July. I try to be objective because I've lost money on real scams before. Here, I don't see it. I just don't. Pump and dumps last a matter of days, maybe a week. We're at 6 months. I do have concern about the time it's taking to finish the merger, but I've never dealt with this complicated of a merger (11 companies?) before so I can let that slide for now.
So, what is the scam and who is profiting? JC is not, he hasn't sold any shares. So who then? Guys that bought at $.04 and sold at $2.25? These guys were pumping hard for good reason. Pay Day. Daytraders do what daytraders do. Or guys that created a valuable shell company and sold it for profit? These people are not scammers, they're heroes. lol
All told, I'm convinced this is what it's purported to be. A very valuable company going public. And we're all here at the beginning, even now. Most of you will sell within a year. A few of us will look back in 5-10 years at our GRNF shares and say "that was the year of the unicorn". lol
Happy new year ihubbers. :)
We're up on the 5 day and 10 day chart. I'm no expert, but sentiment seems to be bullish. :)
Plenty of catalysts coming soon. Name change, symbol change, S8K finalizing merger. Then it's boomtown.
Last I checked, Disanti is still the new owner and CEO. He hasn't gone anywhere. Premature to say there's no merger.
No history of fraud whatsoever. In fact he's highly regarded in the industry. Don't listen to the shorty.
Get your shares now or miss out. Big gains coming. Huge.
Sorry, I just don't see anything here that's concerning.
Can you please explain what the scam is?
Maybe it's me, but all I see is a custodianship and reverse merger for a private company wishing to go public, initiated by a consulting firm that specializes in doing just that. Is this somehow unusual?
I don't believe you have all the info needed to determine if that was legal or not. It appears to me this rule refers to insiders. The previous owners are not insiders, and may not even be affiliate stockholders.
https://www.jdsupra.com/legalnews/sec-comment-about-affiliate-stockholder-98620/
I'm not a lawyer, so I'm not going to try to argue this. But JC does have lawyers, so I'll defer to them.