Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Here's an interesting way to think on this. Sharp, as head of WNFT, can't come out and say "I am sure WNFT will be well north of .36". However, Sharp, in his capacity as CEO of FORW, **CAN** legally buy this warrant which has a break-even price of .36 - which clearly implies the same thing without running afoul of securities regs.
.36 would be a 44% gain from today's close of .25 (ish). While I doubt that many here are targeting .36 as their exit price, that would not be a bad return.
I have no real knowledge of what the split cost, but 200K seems very high given that doing such a split is routine stuff for a transfer agent. Possibly there were some fees associated with the name change etc.
Right. No one goes through all the trouble to get a shell and refurb it and then do a forward split just to bring in a company worth $200K.
Therefore, maybe a better way of looking at this would be to ask questions like:
What would WNFT be able to do if they had $200K cash available immediately? Maybe pay their lawyers in cash and not shares? Maybe something else related to the court case? Maybe pay Calasse to go away?
Does having 5M new shares (if the warrants were to be exercised) in "friendly" hands change the equation on any prospective shareholder votes? Presumably Forwardly is a "friendly" and would vote along with Sharp in any matter put to a vote.
It's not halted. We don't need over the top innuendo here.
I don't read much into the statement that numbers are audited, given my concern that book value may be significantly overstated.
I may be wrong, but my understanding is that an audit would validate that the results were properly reported, but an audit would not in and of itself cause a review of whether the book value of an asset was overstated.
In other words, an audit would verify that depreciation was properly calculated given the book value of an asset, but would not affirm that original book value.
If the usual scope of audited financials included verification that market value of an asset was at least book value then we would see impairment charges far more frequently than in fact we do.
That article is a poorly written rehash.
It is not management's job to buy stock or options in the open market.
In fact, from a diversification point of view, it would be the dumbest thing they could possibly do.
I read them but possibly misunderstood them.
In any case, I will just wait and see what happens. My position isn't large enough to warrant spending much more time speculating about it.
I'd like to see that on the bottom line before I get too excited. I have my few shares in hope that they can pull it off.
Kind of a pipe dream as they don't have that much cash, let alone that much to spare.
Suggests that the book value is inflated, no?
Anyway, not a big position for me here. I will wait it out and see what happens.
Here’s another way of looking at it.
They are saying we will get $1.75 in Spin-off value for every HNRC share. That would mean that the oil and gas assets that will remain are being valued at around a NEGATIVE $2 per HNRC share.
Since that is ridiculous on the face of it I have to conclude that the spin-off shares are grossly overvalued.
Your logic is flawed. The prospective spinoff assets are already included in HNRC’s price. Today the market is saying those assets are worthy 9 cents per share MORE if carved out into a separate entity than if bundled into HNRC.
Either way they aren’t likely to be worth anything near 5 dollars per WDHI share or $1.75 per HNRC share.
I think it is a good thing that HNRC is doing the corporate asset house-cleaning needed to be truly focused on oil and gas (I am including the wastewater disposal assets as part of oil and gas).
However, the spinoff is going to consist of a garage sale of assets from HNRC's previous businesses. Investors probably aren't going to want them for the same reason that HNRC doesn't want them - collectively, they are a hodge-podge of stuff with no critical mass in any particular sector.
I believe the dividend will be in WDHI shares, not cash, and that you will get $1.75 worth of shares of WDHI for every HNRC share you own (this means SETTLED) as of COB on the record date. As they are valuing WDHI at $5.00 per share, this means that you would get just under 1 WDHI share for every 3 HNRC shares.
Note that while they are valuing WDHI at $5.00 per share, it may not trade at that price. Personally I think $5 per share is a stretch given that what is going into WDHI is all the odds and ends that HNRC doesn't want.
The PR indicates that the dividend record date will be announced in the third quater - it is in the future, not in the past.
Maybe he's in the Witness Protection Program? Sure seems to be going out of his way not to be noticed.
Thanks for pointing out that there are now Jan 2024 LEAPs. I swapped some common for some of the Jan2024 2.50 calls. Not much time premium.
Sold 1400 LWLG common to buy 20 of the January 2024 2.50 calls.
You are over thinking it. New options expiry months are routinely opened on all stocks with options. It is pretty normal to see January LEAPs two years out opened in July.
I hold a small QENC position. I am neither adding nor selling.
That said, in general I find complicated ownership structures to be a red flag, other things equal.
don't know, I'm not a newbie
how about
Why Not Finalize This?
Agreed - there is no reason to rehab a shell all the way to pink current and then do something (like the forward split) to the share structure unless he has a specific target company lined up.
Nothing matters until/unless the CE comes off. Until then we will have extremely thin trading that really doesn't mean anything.
I think it is kind of silly to be guessing. I have waited this long, I can wait some more if needed.
Good volume on MLCT today out of the blue.
I agree with 3 and 4.
As for #2, 1280 shares does not warrant a panic.
If he is not connected the last thing he would do is post something linking him to BABL - that would unleash a shitstorm of postings and inquiries he simply does not need to deal with.
There is no real information in that post.
The vast majority of otc stocks end up in the toilet, with or without splits of any nature.
We really don't need you looking out for us.
Only 25% of them, then 25% every year after
Thanks - those data certainly prove that a premium over 100% is actually pretty common.
I can't cite them for you, and don't want to spend time looking, but I am absolutely positive there have been many buyouts at twice the previous market cap or more.
Thanks. I was not aware Hutton had come back from the dead.
Does EF Hutton talk any more? If they do, do people still listen?
We can only hope.
I just hope WIlmott gets paid because if he does I assume we will too.
At this point BABL is more dead than it is money...
That makes it clear that 25% frees up this year, then 25% annually for the next three years. Do you happen to know the EXACT DATE in August this will happen? It is not clear from the filing (which posted after-the-fact).
Not asking you to dig into DD,. just wondering if you happened to know off the top of your head.