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I suggest you go back in history and look at what happened when they "cancelled" the last R/S. I'll save you the trouble- churned 1s then back to no bid. Now tell me how this time is different tho.
Please stop with the buybacks. Trips don't buy back. This guy is certainly clearing up his liabilities (aka paying himself) before he is buying shares back. Just ridiculous narrative.
If denied then this thing has no shot at moving. Too bloated right now IMO.
I would imagine with him rolling in this new team he is trying to get his name/stink off of it. He still has too much skin in the game for people to believe. Not sure people are going to invest in what is essentially a used truck dealership.
So we going on what like 4 years here without movement? About to take off tho.
When is buffet stepping in here? Did he not see the insta page?
This gets more pathetic by the day. Always one guy in here kicking around the thought this is gonna 10x. Meanwhile actual markets mooning.
Your bags will be light soon enough. Viola is about to do a magic trick where 90% of your value disappears
Look at Viola outperforming the market today. What an absolute beast.
It's not like they could sit on the bid lol
Correct, they had close to 600k in here but when you can dump shares that you acquired at .000025 then you just need some pumping. They most likely made a killing when it went to .0005.
Probably safe to say that if the R/S gets denied again you can write this off in 2019 as a worthless security.
Yeah so if we are being generous we are saying $1k. That's pathetic. Probably more in fees than shares trading hands.
What trading? lol
This literally means nothing. There could be 10k on the ask and an endless amount behind it.
"created" it was already a functioning small business. It was just a name change. He didn't physically go get staff, building, and infrastructure for what they are doing now. Once the players realize they can't tap the capital that was promised here then they can shut it down and "create" a new company under a new shell.
Then Payless will leave the DCAC ticker and this will fade further into oblivion.
If it is rescinded then DCAC will do whatever it needs to do to get it approved. The financials paint the picture of them needing significant financing to continue this game. They need to reset the deck.
The Company has evaluated that the changes described above will result in a decrease in accounts receivable of $189,936, decrease in inventory of $27,959, increase in accounts payable and accrued liabilities of $4,999, decrease in sales of $764,310, decrease in cost of goods sold of $541,416, and increase in accumulated deficit of $222,894 as of February 28, 2019.
Quite the revision. Oopsies
So much for millions in inventory.
Or most likely like $4,000.
Plan can't start until the R/S is out of the way. Pretty simple, I figured Arthur would be able to figure it out. Nick is on the case tho, lol
You'll be able to figure it out once the fins are released. There hasn't been any volume so I doubt many converted. Most of the toxics are already in the green tho regardless if they realize whats on the books here. More curious to see how Viola's retirement plan pays off.
Nothing more transparent then Arthur. Guy is a ghost.
Would be impressed if they can release on time. Hasn't happened in years but it would show progress.
All you need to know is that they still went out and grabbed another 600k since Payless came onboard. The interest expense they are occurring pretty much eats the slim profit margin they have. The insiders and toxics look like they can get paid off here. Kudos to them.
I would stick with the buffett connection. That holds more weight then this slop you are running out.
Anyone rich yet?
.22 cents is .22 cents. Viola needs every cent.
They fired off everything they could. It didn't work. Once again showing Viola is clueless how to make this run. He should've R/S then put out all the puff pieces with the usual crew pumping patents, assets, trusts, projections to the moon.
What a power hour. Hopefully we see that momentum into Monday.
Those promos look like they are done by a 6th grade tech class.
Well yes there are easier ways, he already did it here. Look at the history going back 5 years or so you will see all the plays he did to squeeze blood out of a stone. IMO he found a new stone to squeeze.
It doesn't benefit Payless but it doesn't matter since Viola has control with his preferred shares. Maybe there is an understanding between the parties but Arthur has ever legal right to R/S this and continue to dump shares.
"The cash flow projections are enough to pay off the current debt load in the event that Payless is able to secure non-toxic financing to cover its working capital deficit."
I mean they are still running operating losses and only reason they have any cash is because they keep getting "financing". I don't see anyway in the near future they can generate enough money to dent the 3 million sitting on their books. Refinancing at 20% is outrageous but I doubt they can even get that rate given how risky of an investment that would be for whomever is offering that.
The real question is where is all the money from the APIC?
NOTE 11 – EQUITY ISSUANCES
During the three months ended February 28, 2018, the Company issued 511,375,100 shares of common stock in exchange for the conversion of $12,785 of interest payable on convertible debt principal.
On January 9, 2019, issued 210,850,000 shares of the Company’s common stock in exchange for the conversion of $6,325 of convertible debt principal. See Note 9.
On January 15, 2019, issued 210,850,000 shares of the Company’s common stock in exchange for the conversion of $6,325 of convertible debt principal. See Note 9.
This is why it will be impossible to move off 1's here. Just in the last 18 months or so you have close to 1 billion worth of shares that are acquired at essentially .000025 and .00003. Dumping them into any bid nets these guys 3-4x their original investment. Yes most of these have probably been dumped in the last round of volume but this never stops with Viola. Continually converting these shares for pocket change and then they get passed to shareholders who are stuck.
Funding this way still muddies the balance sheet. Sell shares, get money, pay off debt. In this case he has used this shell to rack up a huge deficit to enrich himself so I would say he doesn't really care about what his financials look like.
Correct, it will be all good after its done. That's why you want to be in after. This balance sheet still has ways to go before its even close to being cleaned up. They will need to raise some funds by selling more shares to get it right.
People aren't ignoring revenues. They are choosing NOT to ignore the pending R/S that would instantly wipe out their investment.
The money isn't gone, it just got reappropriated to pay his rent. Think of it as a gift.