OTC stocks are fun to trade but please do not buy or sell on anything I might post. Just fun money here.
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Actually not...you should read the NASDAQ listing requirements. Then you'd see that Winters and this company will never reach any one of the...I think...5 standards to get listed.
I don't make it a point to base decisions on what other retail investors are doing / aren't doing.
These things are trades only. I am riding many free shares so I'm not affected however things work out.
There's been like $18k traded today plus or minus. That's as few as 3 retail investors looking for money for their next play. Geez.
Why would anyone buy shares here when the stock is about to do a 1:3,500 reverse split. Your attempts here are really kind of sad. It happens, friend: we all buy a dog at some point. Time to let it go.
You'd have to be in an asylum to even consider buying this stock at the bid given the CEO's history and the pending reverse split.
You'd have a better chance at winning Powerball.
It's because he's working so hard for the shareholders now LOL.
It isn't cancelled.
We know Winters was not upfront on several issues.
We know he spent lots of time on a public message board arguing with shareholders and touting this stock versus working on making things better (a task he seemed not well-suited for).
We know that any competent CEO when he discovered the first "surprise" note would've stopped the presses and brought in auditors to get the full picture - so what if he would've had to forego a bit of his unearned salary.
We know that after stating for months that he had no plans to R/S the stock...well, we can see the honesty of that notion now.
I'd say we know enough to know that this stock is...DEAD.
Possibly...we all know Winters isn't exactly a Will Hunting.
what rumor? I just posted info from the SEC filing.
Sure it is. Read the terms. There were other parties other than Rontan who had to fulfill specific conditions for the deal to close. We had no news even of the opinion letter that was the basis of the deal completing in the first place. And if GDSI violated something in clause "c" below Rontan would have cause. Since the company hasn't given an update other than to say the deal was terminated who knows.
Specific conditions to closing consist of:
a.) Purchaser’s receipt of written limited assurance of an unqualified opinion with respect to Rontan’s audited financial statements for the years ended December 31, 2013 and 2014 (the “Opinion”);
b.) The commitment of sufficient investment by General American Capital Partners LLC, (the “Institutional Investor”), in the Purchaser following receipt of the Opinion;
c.) The accuracy of each Parties’ representations and warranties contained in the SPSA;
d.) The continued operation of Rontan’s business in the ordinary course;
e.) The maintenance of all of Rontan’s bank credit lines in the maximum amount of R$200 million (approximately US$52 million) under the same terms and conditions originally agreed with any such financial institutions, and the maintenance of all other types of funding arrangements. As of the date of the SPSA, Rontan’s financial institution debt consists of not more than R$200 million (approximately US$52 million), trade debt of not more than R$50 million (approximately US$13 million) and other fiscal contingencies of not more that R$95 million (approximately US$24.7 million);
f.) Rontan shall enter into employment or consulting service agreements with key employees and advisors identified by the Purchaser, including Rontan’s Chief Executive Officer; and
g.) The Sellers continued guarantee of Rontan’s bank debt for a period of 90 days following issuance of the Opinion, among other items.
The eviction notice was posted on this board.
It will not and the R/S doesn't require FINRA approval.
You must be heavily invested to keep touting this pig of a stock and scam of a CEO.
Except that NACSV became insolvent and was evicted and this deal is not the first of its type (even if larger) to fall through. So I don't think you can claim he gets the job done. Besides, if nothing else, look at the one year chart on this stock's price. Says all you ever need to know about the company.
Good flipping opportunity is all that 99% of the OTC are good for. Maybe this is the 1%...no evidence I can see yet for that.
And how many times were we told in the past that someone at Rontan or GDSI had conclusively told us the deal was essentially signed and just working on minor details?
Same koolaid being passed around.
Amen to that. And...never trust anyone who says "hey I have a source who..."
Post is very true. I've rarely seen pink sheet stocks that you can hold long-term hoping it's one that goes from trips to dollars. Can happen but likely will not.
It's hard to sell the runners...no doubt about it. It's almost as hard to take enough off the table where you're riding free shares.
Hard to even believe he gets away with what he posts on Twitter.
"Reached out to..."
He even listed some accomplishments by Pure Grow as if LIBE has any affiliation with that company at all.
Nonsense.
Yeah but how many notes are left.
Yeah but you guys don't complain a bit when a small paint job makes it look like it's up 10% on a particular day.
Can't take over control if they've backed out of the deal and the BROTHERS haven't sold GDSI their shares. Can't forcibly take them no?
I don't think an excellent business man would let NACSV get evicted - looks bad if none the less. No to mention his stock is at less than a penny.
But then 100 shares reduced to what 1 share after the 1:3500.
Likely some big retail guy trying to goad someone into thinking this dead pig has volume.
Not really or the "market" wouldn't have tanked 60% here. A win would be GDSI taking over a company with real revenues. Not the prospect of a long drawn-out court battler where the outcome and / or ultimate settlement are unsure.
PB also said he had a source that GDSI/Rontan were just finishing some minor details and the deal would be signed shortly. That didn't work out so well.
If you believe, by more on the large gap down.
Listen, it's why he did the RS. If he has no bid he can't sell shares. Who knows how long the bid on this fraud will last after the RS but he'll be able to sell enough of his 10 billion shares to pay for his salary and vacation.
not true. just like Rontan could call for a second audit. Wonder what they found?
you overlooked the "without cause" provision?
I wish all of you luck. I just think it's silly how all the people in the know here with all these inside sources who were so adamant that the closing of the deal and the naming of Max as the new CEO was imminent. Some here explicitly stated they had first hand knowledge of the fact.
Now that particular poster is saying...oh, it's a complicated process and it really doesn't matter if they close the deal or not.
The whole premise of this being as PB and others stated "a life changer" revolved around current shareholders owning a $100 million annual revenue producer going forward. As much as I'd like to see it, that's not happening it seems. Rontan without Max is nothing to GDSI. Fighting years for a penalty? GDSI will go belly-up before they see $ from that case in my opinion.
you think Rontan is going to just hand over millions without putting up a big fight? And what if they can show cause? It's not like GDSI has been a great operating company. Did they disclose to Rontan their other legal cases? I'd think a court would be sympathetic to the argument that we backed out because we had no idea their specialty vehicles divions was about to be evicted.
you seem to forget that sullivan never wanted to take over the company...he wanted max to lead the new entity.
Insiders can't sell based on news the public hasn't gotten yet. Does that happen? No doubt but it's illegal. And insiders would need to file appropriate forms which takes time once they got the news.
I'm not sue if insiders really own that much here...some would know maybe.
A bit different to announce the win of a $25 million contract vs. hopes of winning a $25 million judgement in court I'd say.
Do you think that the lawyers for Rontan won't fight to show cause? And if they can't by the time this gets to court and decided then re=decided upon appeal, does GDSI have enough funds to keep it's doors open? What are they going to produce? Their only option would be to sell the rest of the shares they have, then R/S, then sell more shares. Unless that is you're telling us the NACSV is going to win more contracts. that seems doubtful.
Still trying to see how anyone in good faith could say this is good news.
I don't think the 8k came out until after the market closed.
It's not like GDSI - even if they could enforce various terms of the contract - force the CEO of Rontan to become the CEO of the new entity.
Except it is Rontan that wanted no part of GDSI in the end.
I don't see how Rontan would pay a sum equal to their indebtedness if GDSI has not assumed any of their debt...plus it appears to be contingent on if Rontan found another buyer. And the whole termination depends 100% on whether Rontan had cause to terminate the agreement. Maybe they did...why the second audit. Maybe the troubles with NACSV is cause. I don't know. I'm sure they'll have some arguments.
Not sure the number is anywhere near that and would likely take years to enforce. How would GDSI survive until then.
Hope it works out. Curious to see.
These mergers and LOI down here in pink land rarely work out. Just gives traders room to trade and creates a lot of bagholders in the end.
Who knows how this will play out. There has to be some selling pressure Monday as this is unexpected and bad news. It will bounce if the selling is too much I figure and will give others a chance to get out. If the big holders here start dumping as I suspect it could get ugly.
But this is why OTC is fun...and dangerous. These are the times you make a lot of money or lose a lot.
That's because it dropped to almost nothing. And what's important is dollar volume. We're talking usually about $50k or so I believe. That's not a lot when you have as many "big" players as you do here. A group of less than 8 people could've pushed this up for whatever reason. If good news was leaked or a real indication that this deal was about done...you would've seen hudreds of thousands of dollars traded it on big volume.
I essentially broke even so I lost out a bit and could've made some trading gains. But when NACSV closed its doors it wasn't a good sign...not a deal killer but not a great sign.