is...retired
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Where do you see that? It isn't posted as a press release yet.
As to that 'no reverse split' clause in the articles of incorporation': (AOI)
First of all, the COMPANY sets the AIO and the COMPANY is responsible for changing it. No MATTER what has been put into the AOI, it can be changed at a whim. It could say no RS for 100 years, but they could change it TOMORROW. It is a COMPANY function to change the AOI, and it is a pure pump by NSAV to put that into the AOI, because it can be rescinded just as easily as it was added. JT used to say no RS as long as he was CEO. Now he's not CEO, so it was changed.
In other words, it is not evidence of any kind that an RS won't be enacted. If tomorrow, the AOI was changed to eliminate that clause, they would not be breaking the law, and an RS could be legally instituted.
I am not saying that is what they might be up to - I am saying that those AOI are subject to change at ANY TIME, by the very people that made those changes. The only reason they have to publicize it is to placate shareholders. It is meaningless otherwise. It could change tomorrow.
No exposure? The US is totally exposed to this problem. Why do you think oil is over $100 per barrel now? There are US companies in Ukraine. Those could be nationalized, if Putin chooses to.
That is the dividend that never happened. The dividend shares some of us received were a separate thing, giving one share for each 10 owned at ex-dividend day. The hemp beer 'dividend' is why I ended up with so many shares of NSAV. No matter, it still made me a millionaire, just not the way I thought it would go.
No, that is not where those shares came from. That 'dividend' never happened. Hemp beer never happened.
You can either pay a few hundred dollars to get them legal or wait for NSAV to make them legal. They are unregistered.
I know you can't contribute to a Roth IRA if your income is too high, but have not heard that you can't open one. There is also a 'back door' method to fund a Roth even with high income. Open an IRA, contribute to it, don't take a deduction, and convert it to Roth. No problemo...
You can't open a Roth IRA unless you have earned income. That lets most retirees out. Most people with 401Ks usually can't afford to pay into the 401K AND a Roth IRA. I know I couldn't, when I was still working. And companies don't pay into a Roth like they do a 401K. $6000 a year into a Roth takes a number of years to build up enough money to trade with. And if you convert a 401K to a Roth, you have to pay the full tax out of the conversion. For me, that would be multiple millions of dollars to pay tax on...Out of the question.
Everything depends on one's own situation. Doesn't make anyone a fool unless they don't put anything away for retirement.
You should not have to ask me. There are laws for all public companies, no matter the tier. The SEC identifies what items are material events, but it breaks down to anything that can affect the share price. Investments in other companies is not a material event. A director leaving is a material event. A buyback is a material event. Bankruptcy is a material event. A dividend is a material event. A stock split is a material event. Default on loans is a material event.
You are confusing filing sec forms with not filing anything. Non reporting companies do not have to use SEC forms, but they damn well must report material events AS DEFINED BY THE SEC in some form. Most non-reporting companies use the 8K because it is easier to fill in an existing form than to come up with an alternative that contains the same required information.
We've been through this time and again. I'm done with it. The information is publicly available for anyone to read. I informed myself about public companies and the rules for them before I ever traded even one share. I don't believe in trying to win in a game where I don't know the rules.
Photo - the buy back is NOT happening right now. It would be illegal. Why do you persist in saying they don't have to file 8k's so they don't have to say ANYTHING? They DO HAVE TO publicly announce all the details, or stand in violation of law.
Yeah, right. Hedge funds are shorting stinky pinkies utilizing MM's to do their cheating. SMH!!!
You do realize the OTC is automated, right? That means there are not brokers handling trades, as in the big boards. It is completely automated, no human eyes on these trades. good grief!! Just can't keep a good myth down...
That is not the reasoning behind a share buyback. If it happens, it will happen on a publicly announced schedule. Companies don't manipulate their share price in order to take advantage of that price. That would be illegal. Anyone that understands public company rules should know that. Musing why and when a company does things makes no sense. If you aren't a fly on the wall in the board room, you don't know why they do things, and when.
You can't start a Roth IRA unless you have earned income. SS doesn't count. You can convert a regular IRA to Roth, but you have to pay the taxes on the conversion, which for me would be far too high. Plus wait the 5 years.
It's too bad you can't start a Roth after you retire. You have to have earned income. I had a 401K before I retired, and had quite a bit of free money added to it by my company. When I retired, I rolled it over to a standard IRA, so I wouldn't have to pay taxes on it. But it would have been better to roll it into a Roth, pay the taxes then, and move on. Far better.
Now, I'm forced to withdraw about $15K per month, and pay 25+10% taxes (Fed and state). If I had it to do over, it would be a Roth.
Now, I'm too old to convert it, because you can't withdraw for 5 years without paying taxes...
Why not? I made that much last year too, only I didn't sell for tax reasons. I still have over 100M shares, so it doesn't have to do much to make a lot of money.
it never takes me more than a couple hours with TurboTax. And I always try to owe - why give the gov your money then beg to get it back? I NEVER want a refund, I want my money. I buy stock with it and make money while others give it to the gov and the GOV makes money on it. And then quibbles with you to give back what was yours in the first place.
I do my own taxes every year using Turbo Tax. It reads the 1099's automatically and figures out what you owe or get as a refund. 20 years now...never a mistake.
What do you folks expect from this conference? It is a gimmick to start with. Companies pay to get in. No news can be broken to the public in that forum unless it has already been released, it is simply to regurgitate what is already known. Look back at the history of these conferences...every stinky pinky that touts going to the conference ends up trashing their stock because of unrealistic expectations on the part of shareholders.
THEY SHOULD STOP ATTENDING THESE CONFERENCES, SAVE THE MONEY, AND DO SOMETHING USEFUL WITH THAT MONEY!
I do not debate that there are traders that intentionally manipulate the market with their buys/sells. I'm just saying it is not MM's that are responsible for it. It would be illegal, and with the audit trail, would stand out like a hammered thumb. MM companies make millions per year - asserting that they'd 'short' a penny stock for some unknown reason simply doesn't wash - the penalty for getting caught would probably be in the millions anyway, and besides - it is an automated market, people are not making decisions based on what they think. Traders, not MM's are responsible for market swings.
If you put a market sell in, it trades instantly. That is BECAUSE a market sell ALWAYS meets the spread. You are saying 'I'll take whatever you'll give me for it.' Stupidest kind of trading. If you trade at a limit, you'll get what you want for the price you're willing to pay or receive.
The only time I trade at market is when I'm exiting a stock totally. That usually means I have a much better opportunity elsewhere, and just want my cash back - whatever they'll give me.
No, the mm's don't 'move the spread around' when you sell at market. At market MEANS you'll take what they'll give you.
MM's are not shorting this stock. EVER. They borrow shares when they have to fill an order, but they replace them by end of trading day, OR THEY WOULD HAVE TO REPORT FAILURE TO COVER, TWICE A MONTH. It literally never happens unless it is just too close to end of day to cover.
Again, believing in myths, and showing ignorance of how the market works. I wonder why people even trade stocks without understanding how it works. Seems like a sure recipe to lose money, to me.
No, they don't, unless it is within the spread of both. That would be illegal, and EVERY transaction is recorded and can be audited.
People seem to not understand that the only money an MM makes is on the spread. The share price is immaterial - they make their spread on both the sell and the buy side, EVEN IF IT IS AMONG THEMSELVES. And if MM's trade among themselves, they must also have the shareholder order to fill.
In other words, they don't just buy and sell among themselves except for ONE time: If there are no buyers or sellers, (stock is illiquid) they buy and sell among themselves. That is WHY they are called market makers.
Market makers must buy when someone sells into their bid. They must sell when someone bids what they offer. They don't just buy and sell, they are not traders. So, if MM's are busy, it is because of sellers and buyers.
As always, 90 days after FY end. April 1. But they will file for an extension, as usual, making it about April 7.
It has nothing to do with mm's. It has EVERYTHING to do with shareholders dumping at market.
If charts worked in the stinky pinkies, we would all be using them. We would all be making money. We would not have to take chances by gambling that a company would come through with what it says it is going to do. This isn't the big boards, it is the riskiest trading you can do.
Charts my arse. It is just like the 'system' players that casinos love to see...no system works or everyone would be doing it. Every system causes you to lose money. Trading in stinky pinkies by chart is no different - you will always lose money because the history of the trading is no indication of what it is GOING to do.
I just explained that. The share price has nothing to do with the bid or offer-it is just what the share price is at the current time.
Bid - what they will pay to get shares. If you have shares for sale at that price, they have to buy them.
Ask - what they will sell them for. If you buy shares at that price, they have to sell them to you, if they have them or can get them.
Price - what the price is, currently.
So far, zero revenue. We will know more when the fins hit in April.
They should update OTC site when they file the annual, around April 7, if history holds. They'll probably also remove JT's name.
You are wrong. JT was FIRED. He is GONE. Besides, if he was tweeting (which is the main reason they canned him) the tween would ALWAYS say 'loyal shareholders' like he has for the last several years.
They got bought. New rules. I bought some NSAV after it dropped below $.02 and it presented me with a form to agree to. No big deal, it's still the same company.
Why does anyone think Tilton is still at NSAV? He was CANNED. He SAID he was leaving and that was his last tweet in June. NONE of the tweets from last June until now has his signature words. He was FIRED!! He has 3 other companies to keep track of. HE IS GONE. Jesus, can't anyone even read?
There are rules for share buybacks that limit the number of shares and the share price for open market buybacks, the most common type.
Volume to be purchased is based on how many shares traded during that day. The buy back is a percentage of the total.
Price: The purchases must not be made at a price that exceeds the highest independent bid or the last independent transaction price (whichever is higher) quoted or reported in the consolidated system at the time the purchase is made.
In other words, they can't offer a higher price than has been traded that day.
You all would do well to study the laws on buybacks. (and other laws for public companies, for that matter.) I see a lot of comments that would be illegal if it was to happen that way.
If charts actually worked in the otc, we would all be using them and making money on them. There's a reason it doesn't work in the OTC - past action cannot possibly indicate future direction. Charts can work on the big boards, but the OTC is so volatile, nothing can be said of past action or future action. Period. You can fool yourself, but you can't fool the rest of us.
That may be true later in 2021, but they were not mentioned early on. JT was still on his pot kick at the end of 2020. And SBC could not have been the 'buyer' of all that cheap NSAV stock. Illegal.
I do not know how JT got in touch with any of the current players. I rather suspect they contacted him. JT did try to do MJCoin in 2018, but it was a flop and any of us (me included) that invested in it lost our money. As far as I know we all lost ALL of our money. $500 was the minimum to 'get in', so that's what I gave. Others bragged about much more. So, that was his first 'crypto' play.
Twitter posts are not considered valid as a substitute for 8K's. There is a difference between a social post that can be deleted, and a permanent record that cannot be removed. Yes, Twitter can be used to announce things publicly, but announcing something material must be followed up with a permanent record, which is a requirement for material events, as defined by the SEC.
JT does not tweet anything. I know his style, from reading 4 years of it, and unless he has gone through speech training, has not tweeted since he announced he was leaving.
He said:
"This is James Tilton, your soon to be outgoing CEO. In fact, these will be my last series of tweets as the NSAV CEO. My resignation is effective immediately and is with a heavy heart much sadness, but it is the right move for NSAV and all of its loyal shareholders."
The term 'outgoing' has a real meaning. See that word 'loyal'? He ALWAYS used that word.
If you were CEO, and new backers came in and canned you, do you think they'd let you 'stay on' and screw up their 'voice'?
When you are demoted from CEO, you do not hang around as an employee. JT has 3 other companies that he is CEO of, and that is certainly verifiable.
Note the date he became CEO of this company: LVYN
Tilton company.
He still owns CHIF.
He also has TIPS
You do realize that every trade is recorded permanently, right? It shows who bought, who sold, the price and time. It also shows which mm's were involved.
Collusion would be almost immediately detectable, and be able to be traced back to the principles. Every purchase or sale by an MM is also recorded. Auditing trading behavior is dead simple.
That is not to say that a private group could not have pulled this off. If I and a handful of like-minded traders decided to buy up a ton of some trip company and hold them for a year, we could probably repeat this act. All that it would take is finding the right company, with a low share price, and at least some bright prospects. But, although possible, it is illegal to do.