likes to run with the Old Dogs.
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Psssssst - Mr. Foote owns ZERO common shares of his stock.
Just a tiny red flag!
If everyone buys and holds tight, Clive will just get another tranche of 100 million shares at $0.0004 and sell for $0.10. Been going on for months while some promoters scream about some illusional program, crypto coin and gold mine.
The Chinese spent several years and were unable to make a go of this ticker. They were unable to locate the party which owns >42% of the outstanding shares. No entity will merge into this shell as long as those 874 million shares are on the books. Only way for custodian to eliminate those shares is by locating and buying from owner or RS till they are inconsequential to the share structure. Since the buyer can't be located, only one solution remains... Don't get caught holding this bag....
Ummm, ya know that market makers are merely attempting to fill orders from their clients. They hold no shares (hence the daily short sale volume numbers) and price shares according to their client's orders... It would be the likes of Mammoth and Redwood Financial who are selling you their converted shares at a nice premium...
OK, so why then did the note, with a maturity date of 1/15/20 see conversions of 100,000,000 shares at $0.004 on 11/30/20 and 12/3/20? The conversion rate was then changed to $0.0004 with the 1/5/21 conversion and thereafter.
See page 5, https://backend.otcmarkets.com/otcapi/company/financial-report/283379/content
The company reports conversions in their quarterly report. All else known is from the TA in their reports on OTCMarkets. The coming increase is based on information reported in the quarterly statement and assumption that conversions will be carried out at the most recent conversion value. Company can obviously change the conversion value as they dropped it from 0.05 to 0.0004 per share for reasons never reported.
Outstanding is the sum of unrestricted and restricted.
It's a shell game. Here is what has happened lately to the OS...
Outstanding shares :
2,128,944,690 as of date: JULY 18, 2021
2,045,125,509 as of date: MARCH 31, 2021
"Buy Back of 120 Million against a conversion of 200 Million nets 80 Million increase.
Note was disclosed at a conversion ratio of $0.05/share. Note was most recently converted at $0.0004/share. No justification or explanation was given for the change of ratio and yet some still claim this is going somewhere other than down...
The numbers are directly from the quarterly filing. Math is not at error. Maybe comprehension is the issue. Don't know who this "she" is but anyone can keep a copy of their post and repost if deleted.
Have lost nothing...
From January to March the company converted to Whitecastle Capital (Clive Mendenhall) 550,000,000 shares at $0.0004 representing $220,000 toward debt and interest. Actual convertible note value reported to have decreased by $152,355. The remaining convertible debt as of 3/31 was $824,946. At the most recent conversion rate the remaining debt, less interest, represents 2.12 Billion shares.
Outstanding shares :
2,128,944,690 as of date: JULY 18, 2021
2,045,125,509 as of date: MARCH 31, 2021
Conversions April 1 - July 17, assuming all additional shares to OS were for conversion:
83,819,181shares
Assuming second quarter conversion at $0.0004, a whopping $335,276 of debt/interest has been retired in the second quarter, leaving a note balance ot $489,690 plus interest. At the same conversion rate that's 1,224 Billion shares... Only 372 million shares remain between authorized and outstanding as of 7/18.
If, as stated by the master DD mod poster, the debt to Whitecastle is not an issue, how will it be paid in shares as this is what the master DD mod poster says is the only thing Whitecastle will accept?
So how is it that the conversion ratio stated in the filings is $0.05/share but the actual conversions are occurring at $0.0004? There would be no issue if the stated rate was honored. Which of the crackpot managers agreed to the highway robbery? "Esplain dat..."
Statements about conversations with "expensive lawyers" are just more pumping ...
"Management" seems to have no issue reporting the conversion of debt to shares in favor of Clive and his company. Perhaps "management" is the recipient of some portion of the profits of sales of shares converted and 0.0004 and sold for 0.11..... the figure $82 million comes to mind...
The same "management" that negotiated the lower conversion rate of 0.0004 when the original rate was 0.05 and has been all over the map.
Believe it or not...
Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.'s (the "Company") expected current beliefs about the Company's business, which are subject to uncertainty and change.
No evidence that her debt has been converted... still shows open.
Material costs increases exceeding price increase giving lower per unit profit...
4'x 8' x 5/8" waferboard now $59.99 ea...
200 MILLION SHARES ADDED IN 2ND QUARTER FOR DEBT RETIREMENT
-120 MILLION SHARES RETIRED
____________
80 MILLION SHARES ADDED TO THE OS.
Clive and his mojo thank you for your purchases today... There will be more shares available tomorrow, so he hopes y'all have come back then...
Oops, I typed a K instead of a M (which I fixed). Bet ya don't have 875 million shares...
The only way a new entity would merge into this shell is if the 875M shares held by TRX Fundco were to magically disappear. The only way to make that 44% of the OS almost disappear would be to do an RS of the current share structure. Perhaps a 1:10000 RS would make the shell desirable again...
dUPE
Yeah, so check the latest OS and see that it's 200,000,000 shares higher than it was back at the end of March.
Pages 4,5 and 6 of the most recent quarterly report spells it out in black and white...
https://backend.otcmarkets.com/otcapi/company/financial-report/283379/content
Maybe, but all first quarter it was 0.0004. Nothing has been filed to show different numbers. Trust IR if you will...
Since 3/31 the OS has increased by 200,000,000 shares. Those shares converted at 0.0004. This would make the debt reduction $80,000. This reduces the outstanding debt to $744,000. At this rate there will need to be an additional 1,860,000,000 shares converted to zero the debt.
There's your math...
So, how many months has the claim of $5 price been made?
I'm starting to think it is all just BS to help with sale of shares...
Millions being made through the sale of convertible shares acquired at 0.0004, to the tune of 550,000,000 this year...
So, the CUBA idea has fallen by the wayside just like all the others...
Crap by any other name smells just as bad..
This "ship" looks like the Titanic...
And yet the downtrend continues unabated... another 6% down today in the first hour...
Outstanding debt of $824,946 as of last quarterly report. Debt conversion shares being converted at $0.0004. 100,000,000 shares converted per month gives a debt reduction value of $40,000/month. That's at least 20 more months of decline...
Yeah, up from here.... SMH
I believe it to be Whitecastle Capital Corp that is selling. They have received 450 million unrestricted debt conversion shares this year...
So Oreo couldn't pay for an audit in his years of being CEO of this now zombie stock, but he's going to do one just to help himself and holders recover?
To believe anything out of him is lunacy...
To make those 875 Million shares irrelevant a R/S of about 1:10,000 would be needed. Hope everyone is aware of this potential.
She better have some pretty strong magic to make the 875 million restricted common shares vanish or no one will want this shell...
Wouldn't any RM candidate want to merge into a tradable shell and not a non-reporting delinquent ticker?
Well no, the breakout, such as it was, was in February. Now all ya got left to watch for is a little dead cat bounce...
Nine days down, like riding to the bottom of the dead cat bounce, and I see no reason to expect $0.50, much less $5...
This entity filed a 15-12G in 2008, making them non reporting...