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Yes it could. But this one guy has been buying and selling for 10% gain. He just bought about 400,000 shares and put it up for sale as soon as his buy filled. We don’t have enough volume to break that wall today,, guy flipping for couple hundred $, but wrong day, not enough volume.
Cheers to the reversal that’s imminent !
Already know it, they are late on 10-k without NT10-k
Someone trying to flip 63,656 for 0.0006 gain.. sigh/lol
Market makers are not even trying to make the market today. We are trading freely. Once this spreads tighten, the bid will chase up along with pps. Calling $0.015 today.
That will be pathetic. I have my sell orders starting at $0.05 for now. Will even raise it if 10-k is better than expected.
Company’s fair value should be at $3mil M/C. $2mil M/C at the very least.
And yet, we are trading at less than $200,000 M/C. Matter of time people realize how undervalued and gifted this pps is.
We are due for a couple green days. Might dip in the AM, but will close green.
We did. Only if we knew, right? I have averaged down with what I can, and now just have to wait.
Convertible notes are very common thing to have. And the note holders making multiples of their investments is a common practice these days too. Company cannot stop them from doing so.
However, believe it or not, company is controlling the amount of conversion very well. Otherwise, O/S should have been close to A/S by now.
O/S right now is at max 40mil my guess. That’s only 1/10th of A/S for god’s sake.
Company is legit.
Just wait for the filing and reversal.
Or sell and move on if the pressure is too much to handle.
GL
I knew it was going on. It seems it is still going on. I don’t have to say anything against that. That’s the risk I took. I am at a loss. Life goes on.
Added my last bit of shares today at $0.0073 x 143,698 @ 13:54:00
Can’t really trust this “buy vs sell” because it showed my buy as a sell volume. It did that for one of my two buy orders yesterday too.
By adding yesterday and today, my average came down alot to $0.011638 which I know it only takes few minutes to reach once we start seeing some updates from the company. So I am really not worried at this point.
The company is indeed LATE for this filing. But what’s the difference really at the end. We will see it in 15 days from initial deadline.
Try not to answer to the naysayers. They just enjoy other people losing and enjoy even more when someone answers them.
GLTA
Looks O’right so far.
Good morning OPTI !
Hopefully a better day today and days ahead.
This bleeding gotta stop.
To add, the manipulation is easily spotted when you look at the market cap.
12/31/2018
O/S 17,957,619
PPS $0.55
M/C = $9,876,690
03/31/2019
O/S 11,313,626
PPS $0.29
M/C = $3,280,951
10/01/2019 (today)
O/S 28,152,031 (updated 09/25/2019, and I know it could be more than 30,000,000 by now)
PPS $0.0078
M/C = $219,585
Same company, only getting closer to bringing in significant revenue, trading at 2.22% of its M/C 9 months ago. Someone needs to answer this excessive manipulation.
We all know that there is dilution from conversion and it seems to be still on-going. But today, there were alot of organic retail sells from us regular investors that lost patience and faith in the company, which I can’t blame.
How convertible notes work is really hard to understand totally.
But most of conv notes company has outstanding and matured have a “discount” term that goes something like this
“42% discount of average of lowest 2 trading days of prior 15 days”
It is my understanding sometimes MM’s are hired to manipulate the pps down so that those note holders get a better discount and much more shares for the same buck, compared to what they would’ve had if pps was at a normal/fair price.
Now, those note holders that converted into shares do not sell the shares into market right away. Rather, they wait until mm’s drive it up much higher before unloading. By doing this, for $50,000 they lended to the company could easily profit 2-10x their investment.
OPTI’s low float share structure is a huge negative when it comes to manipulation explained above, because mm’s can drive the pps up and down like a ragdoll with the littlest effort.
And the company NOT filing on-time as promised, is certainly giving the mm’s a BIG helping hands.
Regular investors including myself can’t do much about this illegal activity. We will have to depend on the mm’s to finally get done with it.
I, myself, is still waiting for this to shoot back up to where it should be.
Even if whole 3mil volume was dilution let’s say, the pps should only decline by 10% not 30%.
I am not promoting or encouraging anyone to buy anymore.
Just posting my thoughts on this.
GLTA
I am. Added some $0.0101 earlier and some $0.0085. But no more adding for now.
Just going to hold tight and watch how this plays out.
it does hurt.. wow.. didn’t expect this low
It’s actually mostly from mm’s cross trades. They are screaming 1000 today = “Don’t let it run”
I think they are still loading up before letting it run.
Me too. No worries. I have some funds today and some more clearing tomorrow. I am using this opportunity to add more
No sign of reports,, hmm,,
10-k (annual report) is due 90 days from the company’s fiscal year end.
OPTI’s fiscal year end is 6/30 each year. So the 10-k is due 9/28 each year. But since 09/28/2019 falls on Saturday, it is due by 09/30/2019 (today).
If company files an NT10-k, which is notice of late filing, gives them 15 days extension.
You will see alot of other companies file after 105 days for their annual report, because regardless of it being audited or not, they have to deal with numbers and events for the whole year.
So worst case scenario, let’s say we don’t see any revenue from the $10mil deal (if you don’t know what deal I am talking about, let me know) printing on their report just yet.
The company always traded above $3mil market cap, but the A/S increased per SEC requirements for them to have 5x - 10x enough shares to cover for conversions.
It is still my stong belief (& also CEO mentioned that they will) that, once the conversions are done, the increased A/S (which increased from 75mil to 150 mil on 02/19/2019, then from 150 mil to 400 mil on 07/30/2019) will be reduced and retired again.
Just by doing that, the pps will go back above $0.10, which will give the company market cap above $3mil again because main reason why the pps came all the way down here is the fear of dilution (like diluting to the max like other stinky pinkies), and the mm’s manipulation.
So as much as i hope to see the revenue on the report, i am trying to see how much of conv notes converted, paid off, and/or re-negotiated for future conversion.
Since the company is in “Alternative Reporting” status, it doesn’t require to be audited.
But still, to be considered “Pink Current”, it has to be filed on time which was due today. On top, they need to file an Attorney letter by 10/28 stating that what is stated in the filings is all true to their knowledge.
When the company was SEC reporting, they were never late on their quarterly filings, and one time late on annual back in Sept 2018.
That is because the annual report, not like quarterly report, is required to be audited.
According to CEO from his communication with us two weeks ago, he said that he anticipates on filing the 10-k on time. So it should have been through today. There is really no reason for it to be late, because as a non-SEC reporting now, they don’t have to be audited.
Given the fact that, OTC Markets deals with alot of tickers, it is possible that it takes time for them to post it on their site after receiving it from the company.
We should see something very soon here.
One two days of more wait is fine with me.
Yes. Even if late filing, we should be seeing NT10-k just like we would for SEC filing. And they have 15days after that to file 10-k.
I don’t see why they will be late, since it is not even “audited” any more.
Wait today is 09/30 lol
Thought today was the 28th the whole time, duh..
That’s why they listed 09/30 as due date, since 28th was on Saturday..
Hmm.. we should see it by now...
09/30/2019 by 5pm EST.
OTC Markets operating hours are 6am to 5pm EST.
On or before 09/30, we will either get the 10-k or NT10-k.
No doubt about that, but the question is, are we going to see 1. The revenue, 2. The reduced debt.
That’s the main thing in question.
09/30 it is.
So I was wrong about the date.
OTC “Pink Current” allows it to be filed due by 09/30 and NOT literally 90days like SEC requires it.
Check the table on Page 2 in the link - 8th line & blue highlighted column.
SEC would have required it on 9/28.
But the OTC Markets allows until 9/30.
We have two more days.
And I don’t see any reason they will be late. They will be on time.
https://www.otcmarkets.com/files/Pink_Market_Filing_Guide.pdf
I know some are getting impatient by now, and that CEO stopped responding to e-mails. However, he promptly e-mailed back to me and cgerd’s the other day.
He might be avoiding e-mails because he is pretty much repeating the answers and he has alot of other things to worry about.
He said the company is anticipating to file on time, and that was only two weeks ago that he said that, so am pretty sure company is trying its best to file on time. I don’t know what the cut-off time is exactly, but believe it’s like 7pm EST.
So what you want to be looking at is this.
https://www.otcmarkets.com/stock/OPTI/disclosure
And see if filing hits under “OTC Disclosure & News”
And just in case you didn’t know, we are expecting a 10-k (annual report) rather than 10-q (quarterly report) because the company’s fiscal year end is 06/30 every year.
Pretty much same thing though because we are looking for that report for the period from 04/01/2019 ~ 06/30/2019 to find out if the revenue from the $10mil contract starts to print and/or to find out how much debt is wiped or incurred.
Company voluntarily withdrew from SEC filing obligations back in 02/27/2019
https://www.otcmarkets.com/filing/html?id=13256433&guid=ufEfU6EEmuTi93h
That’s why you don’t see it under SEC news.
They are currently in “Alternative Reporting” status using OTC Markets as their platform of reporting.
They are staying “Pink Current” tier, and to keep up with that, they need to file by today. Otherwise they could fall to “Pink Limited” tier.
Refer to this, you have some DD to catch up to.
https://www.otcmarkets.com/stock/OPTI/disclosure
Low volume on 20% spread. CDEL is not actively controlling/manipulating today’s pps.
I think they are ready for the filings too. But if it doesn’t come today, they will have another 15days to manipulate it.
Let me see if CEO can deliver, about the filing being on time.
Lucky ones are picking up cheapies today. Am looking for 911 code here soon.
Morning ! I really hope we get 10-k today even if it comes after hours.
According to CEO e-mail, we are getting 10-k on time.
Company fiscal year end is 06/30. 10k is due 90days from fiscal year end.
90 days from 06/30/2019 is 09/28/2019 Sat (tomorrow)
When due date falls on Sat, Sun, or holiday, it is due the next following weekday, FYI
Expect 10-k coming Monday, latest by 5pm.
Good luck
https://www.securexfilings.com/sec-deadlines/
MM’s have been screaming 100 signal far more than ever before.
100 = “I need shares” FYI
Decreased volume indicates the dilution from conversion and the shorting game have ended.
Get ready for take off.
MM’s will start driving this up and let it take off on its own.
For sure ! We are “” this close to launch. To the Mars !