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Just the mention of the merged company "intending" to list on the NASDAQ is a huge red flag. The merged company WILL trade on the OTC Pink. They will not now, or in the future, meet the requirements to trade on NASDAQ. NASDAQ is a pipe dream. Mark this post.
And ICLD WILL reverse split prior to the merger. Essentially, current ICLD shareholders will be wiped out with this merger.
Best way to play this if you think Wavetech has potential would be to dump all ICLD shares now at any price and buy Wavetech shares post merger.
That said however, I wouldn't touch Wavetech stock with a 10 foot pole if Munro is involved with the newly merged company in any way shape or form. Munro is as crooked as the day is long.
Picture this if you will... Munro quiet because he spends all his time on the golf course laughing with his other cigar smoking cronies about how he's been bilking millions from his unsuspecting shareholders over the past several years (and the funniest part of it all is the SEC continues to let it happen).
Actually though he isn't breaking any SEC laws to my knowledge. He's just capitalizing on the fact that there are always going to be people hoping to make a quick buck in penny stocks. Some people do, but for every winner in penny land there's going to be a hundred losers.
OK, I'm done with my negativity for the day. I'll check back in a week or so to chime in if I feel the need.
Best of luck to everyone with an interest in ICLD and I sincerely hope all have an enjoyable Thanksgiving holiday! We're doing the big dinner with family tomorrow so I had some time to waste this afternoon trolling here ;)
Seems they lowered the bar since you posted this. I know I know hindsight is always 20/20 vision, but just saying...
Well here we are a few days later in the near term and ICLD down 23% since your post. And not an up day close since. To recover that 23% loss the price needs to go up 30% now. So a 30% pop and you break even lol. Munro loves traders like you. He preys upon them.
Well you're new to ICLD. I used to believe in what Munro said too. But over the years have learned he will tell his investors anything. Little of what he says ever comes to fruition. A couple of years ago he was saying how undervalued the share price was and how he was going to restore shareholder value, and since then the stock has fallen another 99%. There is no bottom. I have come to realize that he is a flat out crook, a con man of no morals. In reality, he couldn't care less about his shareholders or how well his company does, as long as he keeps making coin.
It's no longer a good stock to flip. Trading volume is pathetic and has been for a long time. Even if this thing trades on 100 million shares volume, it's only $100k in cash trading hands. Not enough dollar volume for serious money making opportunities. The risks far outweigh the potential for rewards.
I agree with Xylan. Those buying now thinking the price is cheap and they can make a quick buck on a pop will most likely end up getting out of the trade at a loss as the share price continues to plummet. By the time the share price "pops" 200% they'll be down 50% or more. Not to mention that pops are too few and far between on this ticker. Much better candidates in penny land for swing trading opportunities.
But why should they close their doors as long as people without a clue keep buying this garbage? This is a bankrupt company period. Their balance sheet doesn't lie. Munro's company is BK yet he still makes a nice living off the backs of his "investors".
The OS will no doubt continue to increase. It's how unprofitable publicly traded companies like this keep the lights on.
Dilution won't end unless GTHP can one day secure traditional financing via a bank loan. But typically banks won't loan to companies that can't turn a profit. It's why 99.9% of all pink and OTC companies like this have to resort to toxic financing. And toxic financing ALWAYS destroys shareholder's value.
It means GTHP can make the pie 3 times larger, but the slice of the pie that you owned prior to this stays the same size. For example, if you owned half of the company before the increase in authorized shares, you now own only 1/6th of the company if they fully dilute.
And it can drop another 99% by this time next year. It's a falling knife. Not bashing. I'm speaking from experience. My fingers are all scarred up from trying to catch falling knives. My wish is that others can learn from my mistake. No need to experience the pain firsthand.
Market cap at $0.0014/sh is over half a million bucks. Way too high a valuation for a bankrupt company. And they are technically bankrupt. Their total debt far outweighs their total assets. No way around that.
And Xylan is correct. IF ICLD can't reverse split, there are only 2 options. They increase the authorized to buy more time, or close shop.
When they report numbers they will be dismal as usual. But Munro will still be happy because he gets paid off the backs of his shareholders. And he can kick the can a long way down the road as long as he can find new suckers to buy shares of his worthless company.
If everyone quit buying his stock that would really put the hurt on him. But every day there are are new suckers born, so I don't see him hurting any time soon. It's a shame though, because he doesn't think twice when he wipes out another one of his loyal shareholders.
Exactly.
You're welcome. And best of luck to you on all your trades ;)
Have a great weekend!
T trades are reported after hours but are actually trades made during the course of normal trading hours. They are trades made after the market opens and before the market closes. But they won't show up on level 2 as they are "reported" after hours.
It will be a long, long time before the dilution stops, if ever.
Their balance sheet tells the real story.
As of their quarter ending 6/30/18 they had $8M in current assets and $26.5M of current debt. A current ratio of 0.30. In other words at the end of that quarter they only had 30 cents available for every dollar's worth of current bills. The other 70 cents required to pay the bills obviously has to come from dilution.
At the quarter ending 12/31/2017 their current ratio was 0.39. So the most recent quarter reported actually got worse.
Now that's just their current situation. Longer term looks even more bleak. Their total assets as of 6/30/18 was $10.2M and their total debt was $44.4M. So they only have 23 cents to service every dollar's worth of debt. So even though the current share price seems cheap at $0.0018 a share, that's still an ICLD market cap of over a half million bucks. Far too expensive for a company with a net worth of negative $34M.
My prediction? Dilution will continue until the OS maxes out to the number of authorized shares. Then they will have no option but to reverse split yet again or to increase the AS, or for them to declare BK. Technically speaking, they're already bankrupt with a negative net worth.
I'm not saying that a trader couldn't possibly double their money short term getting in at the current price or a lower price. But for anyone thinking they can make money by buying this stock now and holding their shares for a year or more, the current $0.0018/sh could easily look like a ten bagger compared to the $0.00018 share price 12 months out.
Don't believe anything that comes out of Munro's mouth. Talk is cheap. In my opinion Munro is a liar. But even if he isn't, and is sincere in what he says or projects regarding Intercloud, the SEC filings will always tell the true story (well not ALWAYS, some CEO's get so desperate that they will actually lie in what they report to the SEC... but that could mean prison time if they get caught so most won't lie to the SEC).
Cool beans! We can just agree to disagree with each other then ;)
Best of luck to both of us lol. And to anyone else upside down in this...
Cheers
Nah, DRY$ CEO George E. is the king when it comes to dilution and puts the CEO of GTHP to shame.
DRY$ fairly recent reverse split history:
03/11/16 1 for 25
08/15/16 1 for 4
11/01/16 1 for 15
01/23/17 1 for 8
04/11/17 1 for 4
05/11/17 1 for 7
06/22/17 1 for 5
07/21/17 1 for 7
So in 16 months they reverse split 8 times. All told that's 1 share for 11,760,000 shares. In other words, if you owned 11,760,000 shares of it on 03/10/16 and never sold any of them, today you would own 1 share.
My GTHP holding is currently down 87.66%. No reason to sell now. I plan to watch it go to zero but in hopes for a multi bagger gain before it does so.
The way I look at it, should the LuViva Advanced Cervical Scan ever get approval for use in the United States, this is one of those stocks that can pop several thousand percentage points in a single day on the news.
Take ALR$ for example. It went from $0.0011/share on 9/18/17 to close at over $0.14/share on 9/19/17. That was a 12,718% gain in a single day. It went up like that when the company reported they received 510(k) clearance from the United States Food and Drug Administration. And "clearance" mind you, not FDA "approval".
So anything is possible with this stock. Hell, India has a large population. If this ever get off the ground over there who cares about USA clearance? India alone could send this stock to the moon. I plan to give GTHP 10 years or so to see what develops. I am fully prepared to lose 100% of my investment in this in exchange for the possibility of massive reward.
But everyone should do their own due diligence and only invest what you can afford to lose. In my opinion, trading or investing in any penny stock company is gambling at best. But even gamblers get lucky from time to time.
There is a 100% chance that it won't. The only direction this turd knows is down. Look at their hideous balance sheet. There is no reason for this stock to go up. Technically speaking, they're bankrupt and have been for quite some time now. And no company would want to acquire Intercloud. They have nothing of any value to anyone.
You're kidding, right?
There is no future in ICLD as an investment. They're toast. The balance sheet tells all you need to know.
Current Assets: $8M
Current Liabilities: $26.5M
That's a current ratio of 0.3, they have no liquidity.
So no way their current bills get paid without more massive dilution. They have 30 cents for every buck's worth of current bills.
And what's worse?
Total Assets: $10.2M
Total Liabilities: $44.4M
Ultimately, BK will be their only option.
Management is trying to tell you this when they say in their filing:
"The Company’s management believes that there is substantial doubt about the Company’s ability to continue as a going concern."
If you like to keep your money, I would suggest you run away from this as fast as you can and never look back. The writing is on the wall here.
Been a while since I checked in. Wow, I expected ugly but this is downright hideous. I see ICLD still being ICLD. Down over 75% in the past 30 days, and down over 46% in just the past week alone. The dilution is spiraling out of control. The lower the SP goes, the more shares the toxic note holders have to dump to raise the same amount of cash. I wouldn't be surprised if the OS gets maxed out again within the next 6-12 months and ICLD is forced to do another massive reverse split.
I thought I took a severe beating for two when I sold all my shares back in the first week of April at $0.081. My cost basis was $0.217/sh. But thank God I got out when I did. $0.081/sh looks rich now.
If ICLD truly is profitable now, this has got to be one of the most hated ticker symbols out there...
I'm not opposed to that.
Good strategy with ICLD Pell. Hopefully it does bounce and you recoup at least some of your losses. Anyone who was ever long ICLD is down big time on this POS.
Best of luck to you on all your other plays!
The problem I have with Munro is he doesn't give a rats ass about his investors. Otherwise he would align himself with them. Long shareholders haven't made a dime on their investments. He should also take zero pay, at least until his company becomes profitable.
Like I said in an earlier post, the man NEVER loses. He pays himself a big fat salary regardless of how badly he's decimated his company and shareholders equity.
He will continue to fund his business and his salary on the backs of his shareholders as long as idiots continue to buy his worthless stock. I was an idiot believer in ICLD in the past too. Never again.
It's in their best interest to file late. They know they don't have anything good to report. So it might delay the time it takes the stock price to hit new all time lows.
There is no doubt in my mind that ICLD will max out the AS again. It's just a matter of time, not if.
In the meantime, this will see trips again, then another massive RS. All within the next 12 months.
It's all about Munro. He never loses, only his shareholders do.
I lost all respect for the man. I'm not sure if he knows how to tell the truth.
Unfortunately, the numbers only get worse.
ICLD has been one huge disappointment for everyone who decided to go long the stock.
I think the final nail in the coffin was their last 10-k (a huge disappointment). Munro really let everyone down.
Obviously he doesn't give a damn about the common shareholders (even though they have been funding ICLD and his big fat salary). What a slap in the face and a big FU to them!
I believe in Karma though. And I wouldn't want to be in Munro's shoes when the cosmos get even with him.
Even if ICLD restructures and rises from the ashes and becomes profitable one day, you can bet that the current shareholders will never see a penny of it.
Eventually ICLD will have no option but to file for bankruptcy protection. It's not a matter of if, it's a matter of when. After they file, the current common shareholders will be wiped out but new shareholders (post BK) might stand a chance of making a profit on their investment.
Yes it did. After reading that email from Alex I feel a lot better with my position in UATG. Considering adding more next week.
Have a good weekend!
Thanks for sharing!
Discount code MEDSGUMMY50 is working again. It's for 50% off Meds Biotech Gummies.
Bingo!
I worked for a profitable small private mom and pop company for 10 years. My last year there we were doing $800K-$1M/mo revenue. I was a sales account manager and there were only 3 other sales people besides myself. A couple of guys in tech support, a couple people in assembly, and 2 people in the shipping department. 10 people total not counting the mom who cracked the whip. The pop was never there lol. He spent the majority of his time on a golf course. Any maybe a week per quarter in China keeping our suppliers and manufacturers in check.
Point is, our little company didn't own any patents yet we were highly profitable. We had a couple of trademarks on our logos, stuff like that, but that's it.
Why does UATG need to have patents to be profitable? There are ways to make money without patents. There are also many public companies with patents that have never made a dime in profit. The 2 don't necessarily go hand in hand.
I'll give him the benefit of the doubt. Perhaps he meant to say 0.019 cents x 100 = 1.9 cents. He just accidentally left off the x 100 part.
Lol! I first bought UATG at .0018 a couple of weeks ago then added more a few days later at .0013. My cost basis is now .0015 so I need at least that to break even.
But I think the SP will eventually go up past that. So I intend to hold my shares and sell at a nice profit one day. If it takes a few weeks, months, or even a year that works for me. It beats the hell out of the ROI on a bank cash account or a CD. But I wouldn't complain if I could double my money sooner rather than later either.
I don't get it. UATG has 19 employees as of December 2016, negative net tangible assets of $2.8M, current and historic negative cash flows, and no real revenues to speak of, ever... yet they owe close to half a million bucks in taxes to the state of Delaware? What exactly for? Is that corporate franchise tax? Or exactly what type of delinquent tax is it? The numbers aren't adding up for me? Help me wrap my brain around this.
And usually price targets like that assume 12 months out. In my opinion RXMD can easily be trading at 35 cents a year from now.
Yep. 20 consecutive days now that RXMD has been on the RegSHO list for failures to deliver. After trading today it will be 21 days.
The financial institution(s) short RXMD are in violation of FINRA rule 4320 because they have failed to close out their positions and purchase shares or return their borrowed shares.
They were shorting RXMD before they took delivery of "real" borrowed shares, assuming they would be able to get some before their 13 days were up. Now they can't return the borrowed shares because they never really took possession of any except vapor shares. So Rule 4320 forces them to buy shares and close out their short position.
Essentially, they got caught red handed with their hands in the cookie jar. Naked shorting like that is 100% illegal because it creates a virtually unlimited supply of shares available to be loaned out for shorting even if everyone has their shares locked and none are actually available to loan out.
It's a crime, and hopefully FINRA enforces the rule.
No problem ;)
Looking good! Thanks Gordo!
You're welcome. Their transfer agent is really good in my opinion. I usually get a reply to my emails for OS update within 30 minutes or so. Just not being gagged is a huge plus ;)