https://twitter.com/TheGreatJiminy
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Billions?
Care to name just 1?
What reason is there to ever slap the ELGL's ask?
That is just what pumpers do........
OTC is for trading only, not investing
Learn charts, trust me
Yup
Quicker than anticipated
Well....to be fair they did PR their denial of the insider financial BO/merger article that is still being pumped for some unknown, bush league reason
https://insiderfinancial.com/exeled-holdings-in-com-usd0-01-otcmktseled-a-potential-acquisition-target - May 11th
http://ih.advfn.com/p.php?pid=nmona&article=74580222 - May 12th
Item 7.01 Regulation FD Disclosure
Our Press Release relating to denial of rumors of our pending acquisition is attached as Exhibit 99.1 and is hereby incorporated.
Item 9.01 Financial Statements and Exhibits
(b) Exhibits. The following exhibits are included in this report:
No. Description
Yes
Yes it is
$TPNL is 1 of 3 or 4 good OTC companies(actual company)
Out of a million or so?
$TPNL
Will ELED remember to turn off their lights/LEDS?
They need to save all the money that they can before they file for BK.......only option at their rate of $1milly+ loss per quarter
Have fun learning how BK stocks work............
P.S. Reading and comprehending are 2 totally different things......but the experience will help you I'm sure
So what happens to the common shares?????
No thanks
That only works with "good companies that are on the operating table"....
Not companies that are bankrupt and selling everything to pay off their debtors
Chapter 11 BK
Chap 11 BK Process
Today's 8k - Commons are done as they're last to see any $$, company is most likely going to be winding down operations
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 6, 2017
Soupman, Inc.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
000-53943
61-1638630
(Commission File Number)
(IRS Employer
Identification No.)
1110 South Avenue, Suite 100
Staten Island, NY 10314
(Address of principal executive offices and zip code)
(212) 768-7687
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12(b))
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 1.01. Entry Into a Material Definitive Agreement.
The information set forth below in Items 1.03 and 2.01 of this Current Report on Form 8-K (this “ Form 8-K ”) regarding the Asset Purchase Agreement (as defined below) is incorporated herein by reference.
Item 1.03. Bankruptcy or Receivership.
As previously disclosed, on June 13, 2017, Soupman, Inc. (the “ Company ”) filed a voluntary petition (the “ Chapter 11 Case ”) under Chapter 11 (“ Chapter 11 ”) of Title 11 of the United States Code (the “ Bankruptcy Code ”) in the United States Bankruptcy Court for the District of Delaware (the “ Court ”). The Chapter 11 Case is being administered under the caption In re The Original Soupman, Inc. (Case No. 1:17-bk-11313).
On September 6, 2017, the Company and certain of its wholly-owned direct and indirect subsidiaries (collectively with the Company, the “ Debtors ”) entered into an Asset Purchase Agreement (the “ Asset Purchase Agreement ”) with Gallant Brands, Inc. (the “ Purchaser ”) pursuant to which the Purchaser agreed to purchase substantially all of the assets of the Company (such assets, the “ Assets ,” and such transaction, the “ Asset Sale ”) for a purchase price equal to approximately $6.7 million, which would be satisfied in cash and the assumption of certain specified liabilities.
A copy of the Asset Purchase Agreement is filed herewith as Exhibit 10.1 and is incorporated herein by reference. The description of the Asset Purchase Agreement is qualified in its entirety by reference to such exhibits.
Item 2.01. Completion of Acquisition or Disposition of Assets.
The closing of the Asset Sale contemplated under the Asset Purchase Agreement occurred on September 8, 2017. An auction was conducted on August 28, 2017 pursuant to the bid procedures approved by the Court and the sale was approved by order of the Court entered September 7, 2017. The Debtors received total consideration of approximately $6.7 million.
The proceeds of the Asset Sale were used in part to pay in full the $1.7 million outstanding under the Company’s debtor-in-possession financing facility (the “ DIP Financing ”). As a result, the DIP Financing was terminated upon the closing of the Asset Sale and concurrently therewith the lenders thereunder released all liens and security interests against the Debtors that were granted in connection with the DIP Financing.
The Company is evaluating its options with respect to the sale of the remaining immaterial assets and wind-down of the Company.
Item 7.01. Regulation FD Disclosure.
Additional information on the Chapter 11 Case, including access to documents filed with the Court and other general information about the Chapter 11 Case, is available at a subscription based service known as PACER, at https://ecf.deb.uscourts.gov/cgi-bin/iquery.pl?949006151816262-L_1_0-1.
The information in Item 7.01 of this Form 8-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), or otherwise subject to the liabilities of such section. The information in Item 7.01 of this Form 8-K shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language in any such filing.
Item 9.01. Financial Statements and Exhibits.
Exhibit
Description
10.1
Asset Purchase Agreement dated September 6, 2017
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: September 12, 2017
SOUPMAN, INC.
By:
/s/ Jamieson Karson
Name: Jamieson Karson
Title: CEO
Not really, I have been following since Obi "the great" has been pumping
I am well-versed in the BK process thanks to previous experiences
Lot's of money to be made on Q tickers if you know how to trade, and that money has now been made here. It is very doubtful that the same money will be flowing back in or that any new money will come forth IMO
Nothing else to pump
Riiiiight, because you telling me some bogus hedge fund mumbo jumbo would in some way help me?
Ok then LOL
LOL yeah that's exactly what I thought ya DB
Eh we'll see. I rarely am, but will admit that I was wrong if the pump on this turd keeps going
8k filed today sure tells me it is
A hedge fund owns SOUPQ now? LMAO I doubt it, but got a link?
Pump on this 1 is now done
Hope everyone took their profits long ago
Hopefully it is true and you won't have to wait long
But I wouldn't count on it, GL
I'm still shocked they ever pulled themselves up from the grey sheets
That never happens
Penny stocks are meaningless in the long run and never amount to anything, that is why the big delinquent sign on OTCMarkets
I still laugh at that PR from 2 years ago blaming IHUB for their business and personal failures HAHAHAHAHAHAHAHA like it is somehow anyone elses fault, but their own
What interests you?
Is it the $15milly+ debts and liabilities with over $1mil added each quarter?
Or the fact that their CEO can't spell his own name on different company filings, Hanson/Hansen? (or misrepresents himself)
Or the fact that ELED is only 1 of hundreds or thousands of LED companies in the US alone??
http://www.lightdirectory.com/lighting/manufacture-subcategory/leds-light-emitting-diodes-and-led-bulbs/
ELED isn't even listed there
Apparently Forbes thinks the LED "gold rush" was in 2013 LOL, and LED lights were invented back in 1962
https://www.forbes.com/sites/tomkonrad/2013/04/17/the-led-gold-rush/#72ab8071c006
LED Companies Google Search
And surprise surprise, there are waaaay better companies out there that are way easier to find without the threat of BK looming
The pump is over, although they will keep trying
The market begs to differ
https://www.otcmarkets.com/stock/ELGL/quote
Why would they?
I think I've only ever made 5 or 6 posts on ELGL lol
I always try to be respectable on any board unless the names I get called get to me.....
Plus I always provide links and sources, not my fault a ton of people like to wear rosy sunglasses that blind them
This scam will always be a penny stock, don't get it twisted
Well that's what happens in those FB groups......
They sit around in their BFF circle holding hands and singing praise all while they hold their worthless shares and even buy more sometimes to "avg down" while their investment disappears
Some of the folks in the ELED FB group I can't help, but feel sorry for.......but you never know if they actually know what they're doing and it is just a front. Anybody can do or be anything on the internet
ALL penny stocks suck, but what on Earth makes ELED a good investment in these peoples eyes?? I just don't get it, some people will believe that the sky is purple if you tell them it is
LOL of course there is some type of manipulation when MM's short. Shorts will cover. You're right, it does happen with every MM
All I was saying is NITE is mainly retail.........it is not the MM doing it and "evil" MM's not out to manipulate and get you LOL
LOL ok
No, no she isn't about to blow
Maybe a hole on one's pockets?
NITE is actually one of the "good" MM's, and is almost always retail
http://www.nasdaq.com/markets/ipos/company/knight-capital-group-llc-11859-4601
https://en.wikipedia.org/wiki/Knight_Capital_Group
http://www.wikinvest.com/stock/Knight_Capital_Group_(KCG)
https://www.streetinsider.com/Corporate+News/Knight+Capital+%28NITE%29+To+Become+Competitive+Market+Maker+on+ISEs+Options+Exchange/5166776.html
So who's selling at .006?
NITE's been showing 10,000 on .006 all morning and there is actually small ask slapping and nothing.........
141,700 volume so far today and all at .006, yet won't the pps hasn't moved and those 10k shares are still there
Odd...........
Short attack? LMAO yeah ok
Well at least it is above .10 again
Americanbulls even says that their previous sell signal was at .007
Nice flip for 12%...............that is what traders use Americanbulls for, flips. Buy and sell signals.......
Who cares day in and day if it ends green or not? Or if ELED gets that +12% back that was lost the previous day? Everyone who bought on the last pump is already screwed and has Obi and folks like you to thank for it......as they continue to hold onto a company with $15milly+ in debts and liabilities, millions in losses every quarter, and a shady CEO Harold/Hal Hanson/Hansen who spells his name differently on the company filings, and thinking ELED will be successful because ELED pumpers say so
Logic and reasoning is lost in all the positive things that are attempted to be said about this turd
At this rate all shares won't be dumped until 2020 LMAO
Dilution
And too much of it
Combined with people selling
Got an excuse for evvvvvvvvverything
But nothing logical or within reason or reality............as usual
https://www.sec.gov/fast-answers/answerspumpdumphtm.html
“Pump-and-dump” schemes involve the touting of a company’s stock (typically small, so-called “microcap” companies) through false and misleading statements to the marketplace. These false claims could be made on social media such as Facebook and Twitter, as well as on bulletin boards and chat rooms. Pump-and-dump schemes often occur on the Internet where it is common to see messages posted that urge readers to buy a stock quickly or to sell before the price goes down, or a telemarketer will call using the same sort of pitch. Often the promoters will claim to have “inside” information about an impending development or to use an “infallible” combination of economic and stock market data to pick stocks. In reality, they may be company insiders or paid promoters who stand to gain by selling their shares after the stock price is “pumped” up by the buying frenzy they create. Once these fraudsters “dump” their shares and stop hyping the stock, the price typically falls, and investors lose their money.
https://www.sec.gov/fast-answers/answerspumpdumphtm.html
“Pump-and-dump” schemes involve the touting of a company’s stock (typically small, so-called “microcap” companies) through false and misleading statements to the marketplace. These false claims could be made on social media such as Facebook and Twitter, as well as on bulletin boards and chat rooms. Pump-and-dump schemes often occur on the Internet where it is common to see messages posted that urge readers to buy a stock quickly or to sell before the price goes down, or a telemarketer will call using the same sort of pitch. Often the promoters will claim to have “inside” information about an impending development or to use an “infallible” combination of economic and stock market data to pick stocks. In reality, they may be company insiders or paid promoters who stand to gain by selling their shares after the stock price is “pumped” up by the buying frenzy they create. Once these fraudsters “dump” their shares and stop hyping the stock, the price typically falls, and investors lose their money.