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Isn't there supposed to be another R/S coming up very soon ?
When is the R/S on this ?
Are you going to enlighten us to avoid us all having to call ?
Close .001 up 66%.
.001 hitting now, great close.
They may be done!
Lots of buying at the ask, could see a gap Monday with news.
He missed the boat it looks like!
This can run very fast with VFIN gone.
LIBE up 66% !!!!
big move !!.0008 x .001 what just happened
.0007 x .0008 14.2M
In fairness if they are converting shares at .000275 that would be 120 million shares. They must think its worth .0011/share.
I suppose its a lesson for the company to run a mile from this sort of financing in the future. What i don't understand is why the company just doesn't sell shares to raise revenue instead of using CD's. That CD alone if all 120 million were converted would of given 100k$ + to the company ??
Why not sit on the bid and start absorbing any shares at .0005, then that CD would cost you half of what they are asking while also supporting the stock price and putting a limit to the conversion rate ?
WHats the chances of you buying out these CD's or doing a buyback to purchase those shares ???
Not a bad day up 15% and dilution closer to an end with further good news next week.....
61 Million volume .0008's almost gone
.0007 x .0008 51.3M Volume
could see .0009 here by EOD.
That will hopefully mean a buyout of the remaining CD's....
8 Million buy at .0006, just over a million left at .0006. Maybe Brian has started listening.
If this goes down to .0003 we will be looking at a multi billion O/S and a future R/S. The CEO really needs to stop this dropping below .0005.
If Brian has faith in his own company he should be placing a buy order for everything he has at .0005. This would limit the amount of shares from the CD's making his own shares more valuable.
5.7 million here. They are making there lowest profit level at .0005. They may try and go below that just to get a lower conversion.
.0006 x .0007 VFIN on the ask. Looks like we may see .0005's this week.
Brain should be holding all PR's untill the notes are done. That could be several hundred million shares. But at least then the company have the option of buying them back cheaply.
I imagine VFIN is not happy with the lack of buyers. They may start hitting the bid to reach their quota.
.0007 x .0008 VFIN on the ask.
Six million just sold at .0008 so you may get those today yet.
You'll should get your .0006's very soon if VFIN keeps the dilution going.
.0008 x .0009 Volume 3.1M
I don't flip for .0001. You do realise the stock ranged from .0008 - .0013 today. There was a 60% range a couple off days ago as well.
You still don't get it, or are purposely pretending not to. The noteholders are converting at .000275. They may of sold 20 million of stock at .0009 giving them 18K. But 20million x .000275 is only $5.5K wiped off the debt, the rest is extra profit for the note holder.
The conversion rate is 45% of the low from the past 30 days, which was .0005. Therefore a conversion rate of .000275.
I'd be surprised if they converted much more than 10 million, lots of flippers have joined this stock as it has a nice gap and fairly predictable due to VFIN = easy income. I alone account for over 4 million of the volume today.
It will take months to work through the notes unless they get retired.
At a very minimum there is 70k$ left to convert but likely a multiple of that. Lets pretend its only 70K.
They are converting at .00025 thats 280 million shares to be sold by the noteholders. People stating that the conversion is almost complete are talking nonsense.
Don't be upsetting the pump with hard facts. There is 100's of millions of shares left yet to hit from the note-holders.
The problem is even if there is only 100k of debt they are converting at .00025. That alone means another 400 million shares have to hit the bid.
The stock dropped .0004 today with probably less than 30 million of those shares hitting the bid. If this goes lower than .0005 they can convert at an even higher rate.
Brian really needs to try and buyout these notes or it may spiral out of control. Even if he sold 200 million shares directly himself and used that to buy the notes back it would be a much better outcome.
That was the sell price, they are converting the notes at a discount of i think i read here 45%.
So to satisfy 50K of debt at todays pps of .001 converted at .00045 would take over 110 million shares alone. For 220K of debt we are looking at 400 million shares.
But the lower it goes the more shares are needed to satisfy the notes as they are converting at lower prices. Its this type of financing that causes 99% of pinkies to go to zero. The notes need to be bought out before they are converted.
.0009 posted afterhours -35%
Exactly, the note holders will not care what the price is as long as they have a bid to sell into.
If they have been converting in the .0002's then we could be looking at a further 1 billion shares added to the O/S before its over. Its a pity the company could not of found a more conventional funding source.
.0009 x .001 -28.57% V58.6M
So if they have $260K debt i assume the CD's are at a discount to the current pps let say .0007. Then it would take a further 370 million shares to be sold to satisfy the notes.
Can the CEO not get a bank loan to purchase these CD's before they are converted. ?