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Yeah, I don't know what the hell is going on with this thing.
Ah, I see. But that doesn't apply here, since retail brokers don't allow retail investors to short OTC stocks.
Whats a MOASS? Is that like- MOve your ASS now and buy this before the corporate action event happens?
OS UPDATED TO 13,368,617,932 3/29/23
WAS 13,368,617,332 3/7/23
Another dump. Back to no bid. What is with this crazy stock?
Agreed. And I am not expecting to see a PR until the morning after the corporate action event. No reason for the company to say anything until it is done deal, approved by SEC / FINRA.
That's a pretty typical loss after a large rs. So, to up-list, you need to rs larger than you really want to, such that you still have a compliant share price after it relaxes.
I'm a big fan of $PLPL also. I spent this weekend moving money around to get some buy orders in for this week. Got quite a few 7's today, and will be placing more buy orders. I am (honestly) hoping news and corporate action won't happen until next week to give me time to buy more at a good price.
But some appear to take the opinion of a "rando" on twitter as "DD" to be taken as truth. Truth is no-one really knows what will happen.
Looks good to me. They only suck if done at random times. I have never had a problem when an RS and ticker change were done at the same time.
I agree. No way the new owner would agree to shovel money out the window for no reason, and no reason Tad would flush money down the toilet.
No one would waste the millions of dollars it would require to make a useful impact on the OS.
That is my expectation also. It makes the most business sense for a new owner. Start fresh.
I have my ask set at 0.05, but people place large limit sell orders sometimes because it is faster to change an order than it is to create a new one.
When the "corporate action" takes place all orders will be canceled by retail brokers anyway, so it does not mater what the ask prices are up there, since we will all need to re-enter orders after the corporate action.
The merger hasn't (technically) finalized yet. They have filed the paperwork with FINRA / SEC, and it is expected to be approved soon (maybe as soon as this week).
If you have an order (buy or sell) with your broker at the moment, you will see your broker cancel your open order(s) for this stock when this "corporate action" takes place. Your broker will send you an email when this happens (mine does).
Yep, fuse is lit. As soon as we see that press release / ticker change it will rocket.
The AS value didn't change, so they are still in the overall share structure, just not in the OS (restricted or otherwise).
The AS doesn't go up and down as the OS changes, unless some sort of spit is done.
Correct, there would be no need to change the AS value. OS shares come from the AS pile, they are just moving back to where they came from.
The change is roughly equal to the reduction in the OS, so this was just Tad relinquishing his possession of those common shares (which were restricted because he is an insider) and pushing them back into the AS pile.
Yeah, I think this is the best way for them to grow. Seems like a solid company.
I notice they mentioned bedbugs, which makes me think you could use these sprayers for precise small scale insecticide / pesticide application. May be useful for smaller farms that want to use less chemicals and save money.
Chewin' on 7's. Should see 8's early next week.
Well said. Go big or go home.
I absolutely agree. I have been in one OTC that did name / ticker change and RS at the same time, and it worked out fine, I made money and got out about two months after the name change with a profit. There was an initial "sugar-rush" from the event, and the price went up ~500%, and then it started to slowly come down and settle at some value, but it was still worth more than before the split and ticker change.
If they just do name / ticker change, and leave the SS as is, we could see a (possibly) higher percentage change, but it won't last long with this SS and would come right back down to where it is now (eventually). And everyone would still be afraid of a random RS at some point.
The worst possible thing they could do is a RS now, and then a name / ticker change later. That would just hurt all the existing shareholders.
And yes, they MUST reverse the AS as well. I was in a company that only did the OS, and it crashed the price down because it was obvious they intended to dilute. Eventually that company did reduce the AS, but it was too late by then.
I agree. Do it all at once, get it done. We will all be happier in the long run that way.
They need to do an SEC-1Z and a press release to tell the world. Otherwise everyone just thinks they are going to dilute more with another offering.
Mile high wall of 2's. Never ends.
Wow. Sudden jump in bid size at 6. Good sign.
It's anyone's guess at this point. Timing is everything in this case. If they do name / ticker change and RS at the same time, it should be fine and not come down too far (the price would relax a bit as the initial sugar-rush wears off), but if they name / ticker change only, we could see much higher share price initially, but as soon as they decide to RS the price would crash down from all the panic selling and find a new bottom that could be half of what it was.
We also need time to get a good run. At this OS value, it could take 7 or 8 weeks to touch 0.02 (under perfect conditions), but if they cut that short, we may not see the kind of percentage gains we could get with the existing SS. After restructuring, the gains from a run may be far lower, due to the higher share price and fewer available shares.
0.002 should be trivial to get to. We have done that already with this SS. I think the issue was they mentioned wanting to "up-list", which tends to make people uneasy about buying because they don't know when that restructuring will happen.
Awesome! I'm hoping for a good run here.
Tad will want something of monetary value of course. So, if not cash, then common stock (restricted in this case, which which requires an SEC filing to sell), or series B preferred shares which can be converted to common stock and sold, or bought back by the company directly (either of which would require an SEC filing). .
No new shares would need to be issued in this case. It would be a 1 to 1 transfer. Tad would transfer his 100K shares of series A preferred to the new guy (which allows him total voting control), and all common shares would transfer also (to the company as a whole). You would see an SEC filing about "change in beneficial ownership". If you have an existing order with your broker (buy or sell) your order will be cancelled by your broker when the "corporate action" takes place due to the change in ticker symbol. The 100K of series A preferred number comes from the last quarterly filing, which constitutes 100% of ownership.
While it is possible for "the company" (with new name) to issue series B preferred shares to Tad for partial control during the transfer of power, there is no indication Tad would be involved in the new company name / new ticker / new share structure, so Tad may not be involved at all after the corporate action.
Going past the moon with this one! Mars!
They need to catch up on all previous filings for the deal to go through, so we will see some strange dates.
$PLPL - Merger and Ticker / Name change!
https://www.otcmarkets.com/stock/PLPL/news/Plandai-Biotechnology-Inc-Announces-Entry-into-Material-Share-Exchange-Agreement-with-Good-Salt-LLC?id=393719
Old 10-Q just out to catch up on filings. Good sign.
https://www.otcmarkets.com/filing/html?id=16502912&guid=YdA-kWAqNv52B3h
Bid size over 230M! I never thought we would see that again.
That would be awesome. I think when a company buys shares back it has to be done as a market buy (otherwise they could manipulate the share price), so if we see a sudden surge of volume this week without news, that could indicate they are buying back more shares.
If they do go to NASDAQ, for me (personally) I would have no interest in investing in it. NASDAQ stocks don't have the kind of volatility or chance of high percentage gains that I love from the OTC's. They're just too stable for my taste.