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Morning Stok, there is no definitive answer to the liquidated damages debate because nobody knows either way, it certainly isn't in any filing or pr so far, but he does supply an alternative outlook and some sound knowledge to evaluate. Just gotta remember that nothing said on this board will have any bearing on where ECIG(D) is going as it's much bigger than Ihub. JMO and GLTUA @ ECIG(D)
I'm not sure we will know soon because if they didn't 8k it then they certainly won't pr it and as it occurred in the 2nd qtr we may not know for sure until the August Q2 filing. I suppose they could detail the payment along with the details of the note due on the 24th, but not sure. However the lack of selling and the action over the last 5 trading days says that something positive is going on. JMO
"We could know soon hopefully."
I agree to a certain extent but if you look on the FINRA website at who were the biggest contributor of share volume during Feb and March you'll see they are the first 3 on the bid every day now. I have no idea if they're covering or what but the undenying fact is that they are buying and have been doing so far the past week and today, Citadel especially. JMO
I hope you're right. GLTUA @ ECIG(D)
My bad, thanks for pointing that out.
I have no idea, I'm just trying to assess the facts on what I see not what I want to happen. I do think we'll come out the other side ok but maybe it's just gonna take a lot longer than I initially thought. In any event I can wait. GLTUA @ ECIG(D)
According to the filing the loan was for $13m.
Good post, even with your calcs the MC will only be $50m which is still way undervalued. Just gotta have patience here IMO. GLTUA @ ECIG(D)
"I don't think anyone here disputes the continued dilution we'll see to at least 100 mil OS. But that doesn't mean it has to happen over night,"
According to the filing on the loan, they put out the date of April 3rd for a potential repayment date that would also automatically reduce the warrants by 50%. As it was a material event (and I suggest paying off a loan and reducing a mssive amount of warrants by 50% is a material event) there should have been (IMO) a 8K issued no later than Friday but as they didn't issue one I can only assume that the loan wasn't paid off and there are still the same number of warrants outstanding as detailed in the filing. JMO
Ok thanks I'll be on the look out for it.
It's 20 business days for the 'D' to come off from the date of the split as I understand it.
Who said anything about an expected filing on monday?
I hope you're right and I'm wrong
I'm not so confident that monday will be an up day. The failure to notify investors that the latest loan has been paid and 50% of the warrants haven't been reduced isn't a call for celebration in my book. I'm long here but this is disappointing for me and I expect the bears to take advantage. I expect monday to be red unless some other positive information is forthcoming. JMO
Thanks for the clarification.
Ok thanks, I was just wondering if it would be detailed or not. If it's under other expenses then we won't know for sure what exactly the costs are for.
No, I also have been adding and managed to grab a few sub .30 to bring my average right down and I will add again if the opportunity presents itself. JMO
"One last thing am I the only one who has been averaging down here since pre- split"
Yerboss, what is the penalty for the late filing of an 8K for material information, is it cash based ie 100's/1000's of $'s or something else? Is is it a non event in the great scheme of things? MTIA
"They are required to file 8-k(s) by tomorrow at 5:30 according to SEC rules And it would be foolish to face a penalty to postpone good news"
Not sure what this is about but I've been on the BCSC website, input ECIG and ECIGD and I'm getting nothing back, the name doesn't seem to be recognised? I've also clicked on the 'E' and there's also no mention of ECIG(D)? Can anyone explain what's going on, why British Colombia? is it a ticker typo by the administration?
I also note that there was one issued previously on April 3rd? If this is true what are the penalties for a late filing and more importantly what was the filing they forgot to file? It says AIF which I believe is an Annual filing, should they have filed a 10K in British Colombia, Why? Just throwing a few things out there!
http://www.otcmarkets.com/stock/ECIGD/news
Not sure what this is about but I've been on the BCSC website, input ECIG and ECIGD and I'm getting nothing back, the name doesn't seem to be recognised? I've also clicked on the 'E' and there's also no mention of ECIG(D)? Can anyone explain what's going on, why British Colombia? is it a typo by the administration?
I also note that there was one issued previously on April 3rd? If this is true what are the penalties for a late filing and more importantly what was the filing they forgot to file?
http://www.otcmarkets.com/stock/ECIGD/news
OK thnx for the clarification. If there have been liquidated damages, how/where will we see that detailed on the balance sheet?
LOL I realise that, you can do the same with transferwise web site at top of the page it gives a more realistic exchange rate. To be honest any currency exchange website will give conversions. No worries Enjoy your weekend!
You talk on one hand about losses being meaningless because they are paper losses, well I've always thought that write downs are paper losses?
As I understand it, it's just for 20 business days, no longer.
I think we have approximately another 7 business days before the D comes off so it won't happen monday. JMO
If we don't get news that the latest loan's been paid off and the warrants have been reduced by 50%, I could see monday being a disaster. JMO
I use Transferwise, best thing I ever did. (Apart from take up golf again)
https://transferwise.com/
Hey guys, keep one eye on UMEWF over the next few qtrs, could well be worth your while if they get VATS cert from China Government. Micro SS, one shareholder controls 62.9% insiders control just over 5%, gonna fly if it happens. GLTUA @ UMEWF
Hey Nebs that micro SS UMEWF just had an update, keep an eye on it because good news sounds like it's heading our way. GLTUA @ UMEWF
Yes I missed it also but it wasn't on Etrade or Ihub so maybe it was a limited distribution. In any event it's a fair update but I still need to see that confirmation filing, lol. GLTUA @ UMEWF
No market reaction but then there's been virtual stagnant trading in this for ever and I suppose we won't see anything until a confirmation filing is issued.
Just one thing to note there were 240k subscribers in December and there's 600k now so 360k subscribers have been added since, roughly 100k per month or 3000 a day, that's a 50% increase over the 2000 a day up to that 240k figure. This gives a great incite into how they intend to hit 2m subscribers over several provinces by EOY.
GLTUA @ UMEWF
Hong Kong, Apr 08, 2015 (Filing Services Canada via Comtex) - UMeWorld Provides Shareholder Update Hong Kong (FSCwire) - The management team of UMeWorld Limited (otcqb:UMEWF) is pleased to provide this shareholder update. UMeWorld launched UMFun to China Mobiles educational platform in the Shanxi province on March 16th, 2015. UMFun is now available in two provinces that China Mobile services, with over 12,500,000 paid subscribers on its K-12 educational platform. Since launching UMFun on China Mobiles educational platform in August 2014, more than 600,000 users have joined UMFun. The Company is in various stages of launch preparation in several other provinces and expects to have UMFun available in seven Chinese provinces by the end of 2015. The company is reaffirming its anticipated subscriber base of 2,000,000 and 10,000,000 subscribers in 2015 and 2016 respectively, as initially announced in July 2014. The Company submitted an application to the Chinese Ministry of Industry and Information Technology for a Value-Added Telecommunication Services permit ("VATS Permit") in December 2014. The VATS Permit is required by Chinese government regulators in order to collect revenue from UMFun users through China Mobile. The Company has gone through several rounds of discussion with the Ministry regarding this application and has responded to the Ministrys satisfaction. The Company has received no comments or requests for further information from the Ministry for the past three weeks. Accordingly, the Company is confident that issuance of the VATS Permit is imminent. China Mobiles educational platform is available to students in Kindergarten through Grade Twelve and is the largest subscription-based educational platform in world, used mainly by teachers, parents and schools through many provinces in China. The Kindergarten-to-Grade Twelve Educational System in China is the largest in the world, comprising approximately 200,000,000 students. UMeWorld is on track to becoming a leading K-12 educational service provider in China.
http://www.marketwatch.com/story/umeworld-provides-shareholder-update-2015-04-08
Many thanks for bringing that to the board, it isn't on Etrade or Ihub.
I just had a look at section 404b for non accelerated filers and SOX says that a company (ECIGD) may be exempt from acc filing due to having a MC of less than $75m so I think you're right.
I'll have another look at it because I thought acc filer was 40 days (NT 45 days) thanks for the reply anyway. GLTUA @ ECIG(D)
Are we not an accelerated filer anymore? As I understand it Q1 is due by May 11th and if NT-10Q is issued it's due by May 18th. JMO
"Then 45 days (for small rep. company!, not 40)"
I don't see how this move down can be viewed any other way, agree 100%.
"I suspect this is more shorting than it is converted shares being sold. No doubt conversions have taken place and our OS is greater than 40 million. But this price move- It's artificial."
It occurred immediately before I posted so 1.30pm ish. I tried to get a screen shot but I'm technically challenged. I'm pretty sure the bid was at .229 and never moved, the trades were at .1786 and .1886, both for 100k shares. I'm not one for B/S-ing, I'm 100% sure I saw the trades.
The name says it all, impairment, only have to look up what it means to understand new management is telling it like it is, ie old amangement overpaid for the brands last year with all that goodwill addition. JMO
I thought toxic debt was so called because the conversions were tied to the VWAP for a period pryor to conversion (ie 10 days) and that was the incentive to drive the pps down so that more shares could be converted (for the same money) but don't these notes have set conversion prices ie .75 and .45 (for the warrants) so therefore it isn't a death spiral toxic debt by definition? What's your thoughts?
I've always avoided plays like these so I've multiplied my postage stamp knowledge on conversions, made me realise how right I was to avoid them, lol.