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The most important line...
" To date Old Main has purchased $170,000 of such debt by paying TCA a total of $163,000 and paying legal fees of $7,000 to legal counsel for Old Main and TCA. To date a total of $144,089 has been converted into 46,153,843 common shares."
Do the math folks! Back in January 2017 PLSB was trading at $0.03 (Yes, that's THREE CENTS) and they allowed Old Main to convert at a dollar cost average of $0.003!!! They issued 46 MILLION SHARES for only $143,089 dollars! To assume the full $1.7 Million that was (is) due to TCA calculate how many shares will have to be issued as the price kept dropping (to $0.0015) to fully pay of TCA Global? That's right...BILLIONS! Disgusting :(
I do agree about PLSB having real products and customers which makes this more frustrating to witness the death spiral the company is in. The CEO needs to restructure the SS, announce a new formal capital raise deal (non toxic), and end the borrowing through convertible notes with NO floors! Once that happens then you might have something worth while. But again, it starts with management which I'm not willing to place a bet on at the moment.
- JMHO
Monster was virtually bankrupted as a PRIVATE business in the mid eighties when two attorneys stepped in and purchased it. By the time it went public it was already doing over $15M a year in revenues. By the mid nineties it was doing close to $40M in revenues but barely profitable and trading at 3/8 ($0.375). The game changer for them was when they introduced Monster Energy Drinks to complete against Red Bull who had just entered the US at that time. 1) High volume + 2) High margin category + with 3) distribution already in place (Hansen) in the biggest market in the US (CA)= Monster deal!
BTW- I haven't insulted anyone here directly or used disparaging words to fellow posters. If you continue, I'll ask the moderators to delete your comments or even kick you off the board all together.
FYI- MNST raised funds the traditional way- i.e. Straight equity or lines of credits, at market interest rates, against their growing assets on their balance sheets. They DID NOT issue toxic debt to these two dollar hoes that PLSB has and CONTINUES to do so!!!
Big difference. All the filings are there for everyone to see for themselves if they take the time. Three strikes against PLSB that make it virtually unrecoverable; 1) B. Yates as CEO, 2) Took loan from one of the worst possible actors in the business- TCA Global, and 3) took toxic funding from Old Main Street! This stock will bounce around from here to maybe a penny but ultimately it'll end up in the trips!
- JMHO
And with the added costs of being public. The real issue is that the "craft" soda market is not the same as the craft beer side of the industry so it can't command a premium valuation. Unless things change, they're going to need to create a line in a different category that has a higher growth rate.
- JMHO
Good points! I'm still keeping an eye on some of the others you mentioned in this space. Although I shy away from anything over 200M shares issued and outstanding if their revenues aren't over $50M or Nasdaq listed.
$TRUU and $MOJO. $PLSE, $CELH, $NBEV and $HISP. $BRFH.
- JMHO
This company has stagnated! Even trading at 1x revenues seems no longer attractive because they have no path to accelerated growth. The current CEO has done a good job stabilizing the situation but there's no sign she can bring something new to the table. Unfortunately JSDA is following the same pattern that RE#Ds is going which is to say that there's very little potential for a buy out in the craft soda side of the industry. Hence the lack of placing any real premium valuations (i.e. Multiple to revenues) on these brands.
- JMHO
Picked up some at $0.092s and $0.091s. Not expecting much but let's see what happens!
Don't bother anymore...when they see this at "par" $0.0001 they'll probably understand then. By then the total issued and outstanding will be 3 to 5 BILLION shares and then there will be be a filing stating that the board has taken a vote and decided on behalf of the shareholders to do a 1,000 to 1 REVERSE Stock Split!
- JMHO
Have you ever dealt with TCA? Ask others who have. They don't WAIT in line! No matter what, every single convertible issued by the company goes towards operations and debt service. Paying Interest and fees for the first year only, just exasperates the problem for PLSB! Chinadude is completely correct....PLSB is probably up about 500 Million shares issued and outstanding yet they've probably only serviced less than 10% of their onerous debt to TCA. You can bet that the total issued and outstanding will eventually creep into the "BILLIONS" to make any headway on that front...assuming they DON'T issue any more Floor less convertibles!!
- JMHO
Unfortunately, from too many carcasses like this! The other poster is right in reference to their (PLSB) filings. It's in black and white. The minute they issued those floor less convertibles to the usual suspects, it was curtains. Hate to see these things repeated over and over again!
- JMHO
FYI- Proceeds from the Convertible Notes (issued to toxic people like Old Main) are being used, partially, to "service"the TCA debt. Unfortunately, that's the bare minimum in order to hold off TCA from Defaulting on them. Nonetheless, the continuation of selling debt (death spiral) like this with floor less convertibles is the death of this stock!
- JMHO
Excellent analysis of the situation here. Unfortunately for Pulse they're going to have to eventually issue up to the 5 BILLION shares authorized in order to be able to repay all the convertibles on the books. And that's assuming that they still won't continue to issue more convertibles in order to pay for operations. You CAN NOT fight against that kind of dilution!
- JMHO
FYI- Never "invest" in a company that dilutes like this one does. At the current rate- they're issuing 250,000,000 plus shares per QUARTER! That's insane! I'm surprised this thing is still above $0.01! Yikes!
- JMHO
I can't believe this thing came within $0.12 from triggering my Stop Loss at $1,005! Unbelievable! Holding my SHORT until the next drop down to $900 or less.
-JMHO
Yes, I agree....the $1,000 PUTS are a good buy! Or simply shorting some this morning (with a $1005 Stoploss) will do just fine.
- JMHO
A short position at the opening today was a gift!!!
- JMHO
My Price Target for AMZN when this is all said and done..."$398"!
I'll keep checking in every hundred points on the way down! Good luck
- JMHO
LOL! How could that business possibly fail (sarc)?
- JMHO
This reminds me of the AOL/Time Warner deal back in March 2000! Dejavu all over again! Top has been reached....
-JMHO
That's the problem with these types of toxic people...they don't really care about the price. They only care about liquidity. The lower the price the more liquid this becomes hence the perpetuating cycle of lower prices, more shares issued at discount (to pay off the conversion), more selling, etc...it sucks but it is what it is. - JMHO
Not trying to hurt feelings around here just trying to see if there's an opportunity. Unfortunately, when they announced the first increase in Authorized shares to 500 Million- I stayed away. At 5 Billion there's no point really!
- JMHO
Looks like Old Main converted part of the $265,000 Note they purchased from Pulse. The question is how much was converted? At current prices that's only $50,000 worth not including interest and fees. The real problem is that these types of (toxic) funds convert the maximum % allowed (less than 9.99%) and it rarely constitutes the bulk of their Notes...hence the reason they're called "Death Spirals"!
- JMHO
I've been following this one for awhile but when it became apparent, from their 10Q filings, that they were not going to be able to repay the hard money loans they took in late '15 & early '16 the writing was on the wall. The moment they raised the A/S to 500M there was no looking back. And now increasing it to 5 BILLION....well the only play left is to wait until this puppy hits the ground ($0.0001) then play it for a dead cat bounce to maybe where it is now. The only way to look at this as an "investment" (i.e. because of the brands under their belt) is for the current CEO (as well as board) to resign, bring in a completely new board, CEO, and management and...unfortunately for current shareholders- a 20:1 REVERSE STOCK SPLIT! Sorry for showering the board with reality but that's- JMHO
No, all because of a Fed Reserve induced short squeeze! Be careful with this POS as it could drop into the $20s before you know it. They Reversed Split this crap TWICE in less than 12 months!! Any slight bump and you should consider bailing and consider yourself lucky.
The VXX might serve your purposes, best, if you're looking to go short but without the extreme erosion or diluting factor of this one (TVIX)!
- JMHO
In order for PLSB to be able repay back the loans they took from TCA, they're going to need to issue somewhere in the neighborhood of 320 million to 350 million shares- at current prices ($0.005)! That's just to repay those funds (without default penalties or extra fees)...it doesn't include funds for operations or growth, hence the need to increase the authorized shares to 500 million! Could they plow through that? Maybe! But those are the current numbers as it stands! JMHO
I sold, for a slight profit, in the last little "spike" from $3.95 to $4.80 before the reverse split! After they announced yet another Reverse Split (third one in about 18 months time span) I finally figured out that this thing is worst than most OTC Stinky Pinkies where there's an unlimited supply of shares to always hit the market! Thanks but no thanks! The best trade in this POS is to wait for a major correction in the market then let this thing spike...then SHORT the living daylights out of it. You're almost always guaranteed to make money!
- JMHO
None the less I'm unloading most of position because this thing drops like a rock the minute downside momentum stalls! JMHO
Eventually you might be right but I'm thinking it'll hit $5.50 to $6.00 (where I'm looking to jump off) before then. No question though that this POS is designed to go to $0.00!! JMHO
Very interesting! Yes, it looks the group might move as a whole. JMHO
Yes, looking at VXX, TVIX, etc and seeing them hold their ground (just for today) in the face of these new highs in the SPY! Best signal so far a turn is coming very soon. JMHO
Soon you'll realize exactly where the defiance is coming from. Seen this movie too many times over the past 22 years! JMHO
Just picked up some more under $4 in pre- market! Cost average slightly above here ($4.20) but looking for a slight pullback in the markets from these highs! JMHO
This reminds me so much of February/ March of 2000! Deja vu all over again!!
JMHO
One big difference this year vs '15 & '16...those rallies in February of those years came "after" a slight correction in the market (more in '16 than in '15). This time it's a rally at the all time highs! Not saying it can't happen a third year in a row but it's not exactly Apples and Oranges comparison IMHO.
Picked up my second lot down here at $4.25....looking nasty though! This is one ugly m*fker indeed! JMHO
Will try picking some up (for a very short term trade) at $4.50! JMHO
Good point...also forgot to include $BRFH but that's not exactly straight Beverage and more like food service. JMHO
You should put or include $LBIX, $HISP, and $PLSB among others on that list....JMHO
Ok, understood and thanks for the insight!