Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I didn't mean to seem like I was ignoring you. I just wrapped up a seemingly never ending re-roofing project (Murphy's Law was in full force). I knew my response to you would require time to write up an explanation of what is going on here. To start, I want to ask if you are familiar with court awarded custodianships of tickers of dormant companies? If so, are you familiar with David Lazar?
This information will give me an idea of where to start with my explanation.
I’m not sure why I would be concerned about the market cap? Market cap = O/S x current pps.
According to the 10-12G/A, 11/03/2020, page 4 and 16, Lazar owns 19,000 common shares. I’m not sure about preferred shares.
That was a 1,000:1 R/S effective 7/8/2020. New ticker is XLTD, eff 8/4/2020.
I’m pretty sure it was the same document (I read through it quickly last night, so I don’t recall for sure that statement was there). I trust the person that posted it on Twitter and believe what he posted would have been the true document. I have never known him to
mislead anyone.
Just got back from lunch. I’ll go a head and give my answer here, which is really no better that what everyone else knows.
I can only go with what it says. I don’t think I would assume it to be in error, as I have seen a statement like that before (I don’t think it was for that many though) on another ticker a few years ago.
But if you think about it...2,000:1 would be 500 shares per 1M shares. So most likely everyone will have over 100 shares after the r/s anyway. JMO
Lol. Yeah! NOT!!
I’m not sure about that. You would think they would have a way or requirement to authenticate a filing submission. I will buy completed submitted documents, but I don’t have the kahunas to submit a document.
Nope! Missouri. We had ice, snow and rain last week though.
Yes, and I recruited three of my older boys to help...but only ended up with one still helping me through it all...he is the only one not working right now.
I'm not in this one. However, as long as the merging company has substance to share post R/S, it "should" do ok for a bit afterward. Most of the others that R/S'd in conjunction with the merger have. Just my honest opinion!
I have not! I have been out of pocket for the past few weeks re-roofing my house. What a nightmare!! If you have ever watched any home improvement or flipping houses shows, where the deeper they dig, the uglier it gets...Yeah! That was my life for the last 5 weeks!! Just finished cleaning up the yard of the old shingles and old lumber from the roof this morning.
I'll be getting back into the swing of things and caught up on my spreadsheet, hopefully this week. I have a lot of catching up to do!
It's the merging company conducting the R/S as part of the merger (very common in most mergers...just saying!!). Nothing to do with Lazar!
Yep!! I committed perjury again! All to purchase documents that should be public information!!
I also purchased the SoS filing. The document shared on Twitter, that many seem to be in denial and are screaming it was a fake document, are incorrect. The document and the 2,000:1 R/S is legit. Also, PFMS isn’t SEC reporting, therefore an 8 K isn’t required.
I’m in and following.
They haven’t filed a motion to resolve claims yet. There won’t be a court date until they file the motion. We should see the motion filed any day now. Once filed, the hearing date will be approximately 30 days from the date motion is filed.
It’s impatient sellers. It happens on just about every one of Lazar’s tickers, in between each event. Go scream the sky is falling somewhere else. Same story every ticker. Meh!!
He got the Q removed from MSHFQ to MSHF effective 1/21/2020; now YYYH.
He can do the same with PFWIQ!
The Q means nothing to the buyer, as they will be having the symbol changed to correspond with their company name after purchase anyway.
Thank you. I'm a little behind on the data. I've been very busy the past few weeks trying to get several large projects done before colder weather arrives. I didn't get a chance to update it over the weekend like I thought I would. Hope to have it updated by this upcoming weekend. Once my projects are wrapped up, I'll be able to keep it up to date on a daily basis as before.
It would be nice if this week they filed the Motion for the hearing to close out the Proof of Claims process early November. Then see filings end of November into December!
I saw a couple of other Lazar tickers (ZYRX and DIEN) were granted Disallow Asserted Claim and Bar Unasserted Claims yesterday. Filings should follow soon.
highlandernew, To the best of my knowledge, there aren't any at this time. With that being said...If any were submitted directly tot he court, they would be listed as "Proof of Claim Form" on the docket like on USRI. At this time there are none. Now, with that being said...There were a couple Proof of Claims filed directly with Lazar's attorney on another ticker. I'm assuming for possible negotiations before going to court. I don't remember right off hand which ticker that one was...it was one of the first Require Proof of Claims process he did.
When Lazar's attorney files for the next hearing date for PFWIQ, if there were "Asserted Claims" submitted, the Motion will be worded something on the lines of 'Motion to Disallow Claim by (anyone having submitted a claim) and to Bar All Unasserted Claims" or "Motion To Resolve Asserted Claims And Bar Unasserted Claims". If there weren't any submitted, the motion will read like, Motion to Bar All Unasserted Claims" or "Motion to Bar Claims and Terminate Custodianship".
When Lazar's attorney filed the Motion to Require Proofs of Claims for PFWIQ, the document listed quite a few creditors and individuals in the motion. I would think if the Bankruptcy was complete, those most likely would have been settled or discharged with the bankruptcy. It may just be a CYA thing, I'm not sure. I'll watch for the Motion for a hearing to resolve/bar claims to be filed and will share the document here when filed.
PFWIQ's Motion to Require Proofs of Claim:
Here’s the link in case your mobile. It’s about a week behind in data updates. I’ve been reroofing my house. Hope to be done with this nightmare roof tonight or tomorrow, then I will get my spreadsheet caught up again.
https://drive.google.com/file/d/1fRBWcagaBJm0tNCa6ZC_toCmHI7r65Hm/view
Compare the charts with my spreadsheet data. Link below in my signature block area. I’m on the roof finishing up reroofing my house. So I’ll be off here the rest of the day.
I’m not sure if you can see the link if on mobile. But it is there on a PC.
I’m not concerned at all. PFWIQ’s O/S went up 49,291,222 shares. The Unrestricted also went up 49,291,222.
We are still hugging a 1B O/S and under 1B Unrestricted.
Look at chart for QUTR since the Hearing for Motion to Resolve/Disallow Asserted Claims and/or Bar Unasserted Claims was GRANTED on 7/6/20. SEC filings hit 7/21/20 and current on 8/5/20. That was all with an A/S of 2.5B and O/S of 2,486,076,963.
NOTE: QUTR just raised their A/S to 2.74B and O/S to 2,706,367,963 on 10/1/20. They had also increased the A/S to 2.55B on 9/1/20 as well.
No worries here!!
It is providing proof to the court they placed and published an ad in the newspaper under the Public Notices section for the required duration of time.
Next step...to negotiate any proofs of claims submitted and request a hearing with the court to settle any claims submitted and to bar any unclaimed debt that were not submitted. Making it a debt free shell. The hearing date will be about 30 days out from the date the Motion for a hearing is submitted. Sometimes they submit the motion right after they submit the Affidavit of Publication. Sometimes it may be a while before they submit the Motion to settle/bar claim/unclaimed debt.
He got the Q removed from MSHFQ to MSHF effective 1/21/2020; now YYYH.
He can do the same with PFWIQ!
We aren’t talking about the appointment hearing. We are talking about the second part of the proof of claims hearing.
There isn’t any hearing date yet. They have to complete the public notice phase. Then present a Affidavit of Publication, showing proof of publication of the public notice for 4 weeks to the court. Then they can submit a motion for a hearing date to settle any claims and bar all unclaimed.
Ya have to love it when one states an opinion as a matter of fact. SMH
Lazar doesn’t share information with share holders. He doesn’t respond to emails from shareholders. I’m doubtful he has pumpers on iHub. I always love reading a certain doom and gloomer's posts. Watch how it turns to pumping when it starts running, at which time, it will become the best ticker in the OTC. The doom and gloomer posts are consistent on all the Lazar tickers boards they post on. SMH
Here are the docs to support Tradenride's post. I was going to post the docs from the NV SoS site last night, but the truth tends to piss people off during non-trading hours and I was too busy this morning. The court filing to Voluntary Dismiss posted this evening is at the end of my post...
Resignation of ALL Officer positions...
Cancellation of Series B Preferred shares and returned to Class A Preferred shares held by Lazar as CEO of the company...
Voluntary Dismissal with Prejudice...
A quarterly posted to OTCMkts about 20 mins ago. Haven't had a chance to look at it yet.
I have had that thought as well.
That is the process of the tickers he currently has going and was the process he had already gone through with a couple that have completed the process.
I’m really surprised he is even doing this process with a “Q” ticker. You would think all debt was settled/relieved during the bankruptcy. Unless it were found during the financial report process there was one or more creditors that got overlooked and weren’t included in the bankruptcy?? Or maybe a shareholder or group of shareholders trying to stake claim?
I have noticed he is doing the Required Proof of Claims process on all tickets he’s keeping as SEC reporting.
Yes, I’m anticipating the end of October into early November for this portion to be complete.
A "Motion" is an application or request for approval of the court.
Required Proof of Claims process in a nutshell...
They submitted a motion for Req’d Proof of Claims for PFWIQ on 29 July. The hearing to get court approval is typically set for 30 days out, hence a 31 August hearing date. Once approved and order is signed by the judge, Lazar’s lawyer attempts to notify all known creditors and advertise in the public notices section of a newspaper for 20 days. Submit proof of advertisement to the court after 20 days. Receive claims submitted to court or Lazar's attorney by creditor, if any, along with documentation supporting the claim. They can negotiate a settlement prior to court. Request a hearing to settle/excuse debt. Receive a hearing date about 30 days out from the date of request. Get court approval to settle/excuse debt. Clean (debt free) shell.
That makes sense!! Thank you for your input!!