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I see a lot of replies saying that you are wrong. Not one of them is specifically detailing how you are wrong.
Hopefully Oleg doesn't let RXMD flounder like he has let his own NETE do.
Ouch, what a day.
I was here before when it was actually making investors money.
As for the MIDAM selling, that was a long time ago now. Over a full year of downward price action. Someone is milking this thing for all it is worth.
No need to check the stickies.
There is no such thing as a long term investment in OTC.
This thing has been dropping for over a year now. Only winners from here on out are lucky flippers.
Read the 10Q and read the tweets bud.
I'd like to see the whole picture.
Ok, who had the issues?
- SEC
- Mexico Farming Penny Stock
Yeah, ok....
No doubt. I saw GBTC get killed by 50% while Bitcoin only fell, roughly, 20-23%. Figured it was a no brainer so I threw everything I had at it. Wasn't expecting to find anything else that seemed great in 3 days time. haha
I had funds tied up in GBTC from Friday last week so I had to wait a couple days to actually get in.
No doubt. Wish I ran over this a couple weeks ago.
I don't know, not yet anyways. There is going to be a new wave of investors getting their eyes on this. This has the potential to run more before a real significant dip.
HIVE Blockchain Announces Bought-Deal Financing and Acquisition of Second Data Centre
HIVE expands hashpower by over 70% with Second Data Centre and strengthens partnership with Genesis Mining
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 21, 2017) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
HIVE Blockchain Technologies Ltd. (TSX VENTURE:HIVE) (the "Company" or "HIVE") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. (the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 20,000,000 common shares of the Company (the "Shares") at a price of C$1.50 per Share (the "Offering Price"), for aggregate gross proceeds of C$30,000,000 (the "Offering"). The President's List is expected to make up 25% of the purchase. In connection with the Offering, the Company may pay a cash fee of up to 6% of the gross proceeds of the Offering, payable at closing. The Offering will take place by way of a private placement to accredited investors in such provinces of Canada as the Underwriters may designate, and otherwise in those jurisdictions where the Offering can lawfully be made on a private placement basis. All Shares issued under the Offering will be subject to a four month and one day hold period from the date of issue in accordance with applicable securities laws in Canada, and potentially additional restrictions under the laws of other jurisdictions in which the Offering may be made. This news release does not constitute an offer to sell the Shares in the United States or to US persons. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, and they may not be offered or sold in the United States or to a US person unless an exemption from registration is available.
The Offering is expected to close on or about October 11, 2017 (the "Closing Date"). Closing of the Offering is subject to certain conditions typical for a transaction of this nature and the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the "Exchange").
The net proceeds of the Offering are expected to be used for the purchase of the Second Data Centre (as defined below) and for general working capital purposes.
Acquisition of Second Data Centre
HIVE is also pleased to announce that it has entered into a legally binding letter of intent dated September 21, 2017 (the "LOI"), with its 30% shareholder Genesis Mining Ltd. ("Genesis") under which the Company and Genesis intend to move forward with the purchase, sale and maintenance of an additional cryptocurrency mining data centre ("Second Data Centre") located in Reykjanes, Iceland. HIVE's cryptocurrency mining capacity or hashpower is expected to grow by over 70% with the Second Data Centre. The LOI is a follow on of the Transaction Agreement, among HIVE and Genesis, as well as a master equipment purchase agreement ("MEPA") and a master services agreement ("MSA"), all executed on September 13, 2017. The Second Data Centre will be acquired from Genesis for consideration of C$5,000,000 and 2,000,000 common shares of the Company, as well as a revision of the monthly fees pursuant to the MSA to support the Second Data Centre. Genesis has the option to subscribe for additional common shares of the Company in the Offering to maintain their 30% ownership of the Company.
"This transaction significantly expands HIVE's mining capacity for minimal dilution to existing shareholders," commented Harry Pokrandt, CEO. He continued, "We are pleased to strengthen our partnership with Genesis Mining and consolidate Iceland, a leading jurisdiction for cryptocurrency mining due to its low energy costs, cool climate and reliable Internet connectivity. We are also pleased to welcome the support of GMP and new investors."
"On behalf of Genesis Mining, we are very pleased to see the strong support of HIVE in the public markets," stated Marco Streng, Co-Founder of Genesis Group and an Advisor to HIVE. Streng continued, "We look forward to continuing to work with the team of HIVE to further leverage this opportunity."
Closing of the acquisition is subject to receipt of the various approvals, including Exchange approval, shareholder approval (excluding Genesis), and completion of the Offering.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. is a growth oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd., the world's leading cryptocurrency mining hashrate provider, to build the next generation of blockchain infrastructure. HIVE owns a state-of-the-art GPU-based cryptocurrency mining facility in Iceland, completed in May 2017, which produces mined cryptocurrency like Ethereum around the clock. HIVE has an option to acquire additional facilities in Iceland or Sweden from Genesis. Genesis supports HIVE with data centre infrastructure know-how and is HIVE's largest shareholder.
For more information and to register to HIVE's mailing list, please visit www.HIVEblockchain.com, which has recently been updated. Follow @HIVEblockchain on Twitter and subscribe to HIVE's YouTube channel.
On Behalf Of HIVE Blockchain Technologies Ltd.
Harry Pokrandt, President, CEO and Director
Closing of the acquisition is subject to a number of conditions, including but not limited to, acceptance by the Exchange and completion of the equity financing. There can be no assurance that the acquisition will be completed as proposed or at all.
The Exchange has in no way passed upon the merits of the acquisition and has neither approved nor disapproved the contents of this news release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the completion of the Offering, as well as acquisition of the Second Data Centre, including regulatory and shareholder approval thereon, the business goals and objectives of the Company, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, risks related to the Company's ability complete the Offering and acquisition of the Second Data Centre, including obtaining approval from the Exchange and the Company's shareholders for the Offering and acquisition of the Second Data Centre; the cryptocurrency market; or the Company's ability to successfully mine cryptocurrency; and other related risks as more fully set out in the Filing Statement of the Company dated September 13, 2017.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's and Genesis' ability to complete the Offering and acquisition of the Second Data Centre, historical prices of cryptocurrencies and the ability of the Company to mine cryptocurrencies will be consistent with historical prices and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
Harry Pokrandt
(604) 609-6110
(MORE TO FOLLOW) Dow Jones Newswires
Are you expecting it to dip quite a bit before it takes off again?
On my eTrade phone app this morning, I was able to see the bid and ask. It almost looked like it was trying to say PRELF was Nasdaq, which looked weird.
Been watching since the 18th. Saw they were renting 747's to fly graphics cards from the manufacturer. What are fingers crossed for?
What's this?
I thoroughly respect the effort you put into this post. I wish this thoroughness would be more apparent in the positive remarks made on the company.
That being said, I stand by my concerns.
Technical this was not. This was fundamental. Note converted, shares were diluted. Jan was unable to pay the note back. This is the definition of fundamental.
Came out of the shadows to see if I could or could not get some information I wanted to get back in. I didn't get what I was looking for and a lot of things have come to light in over two weeks.
When I was young, I had a couple family members get burned pretty bad on some shady deals and it really affected them for the rest of their lives.
People should always read between the lines, no matter what you are dealing with.
The board can question my motives all they want, and they should, but you also need to question: Jan, habitual posters, posts that are super vague and generic, posts that come off as coercion, etc. Most of my posts have just been asking those questions and clarifying misleading remarks.
Take it for what you believe it is worth.
Notice I have not called anyone a liar or bashed anyone in general. I haven't even bashed Jan or the company. I have just challenged them and asked questions. That should be respected, not hated. If I was a CEO, I would EXPECT my shareholders to challenge me and ask questions that lead them from uncertainty.
I have no intentions of getting back in at this time. I will be gone tomorrow.
I am not trying to influence anyone to do anything they don't want to do.
I am trying to let investors here know that they may not be seeing what is quite possibly going on here. They need to make buy/sell decisions for themselves.
As of right now PGUS is at extreme risk to collapse. Take it for what it's worth.
"Trying to get information in order to get back in"
Didn't happen. Opposite happened.
Read between the lines.
There are real people who will lose real money because they have been encouraged through nefarious means.
More notes converting.
Waiting on revenues for months.
Always in the "coming weeks".
No announcements by management, only generic pictures that tell nothing.
Read between the lines people.
No stress here, as I no longer hold any shares here. I haven't held for awhile. I was looking to get back in and wanted to see some reactions. I got the information that I needed and it is very clear that PGUS is not going anywhere.
My goal now is to give an honest outlook on the company to the board, while they are being led astray.
My advice is to take your money while you can and move on to another play. It's not good to lose money, but don't be left by yourself.
Sincerely,
Justin
No I wasn't. I made a vague statement. You questioned it, fine. I explained if further detail.
You emphatically say that the note is not converting as if it is fact. I made a statement that explained reasons why this is not fact, at least yet.
If it IS fact and you know it to be fact, then you are simply not the outsider you claim to be.
I believe you are what you say you are, so by nature this cannot be said as fact.
You said he told you on the phone. That statement does not change anything. At the end of the day, we don't know whether the notes are going to convert or not.
Jan has not made an actual announcement nor has he acknowledged the notes, relating to whether or not they will convert, to the shareholders as a whole.
It is easy to tell one shareholder they will not convert. Is is not easy to make an official announcement saying the same thing, especially if it is a false statement.
Nothing I have said is wrong. It should be taken into consideration to any investors watching PGUS. Let them decide what they do with it.
Jan really owes everyone some concrete answers and information on what is going on.
DD is becoming extremely thin and relying on hopes rather than cold hard facts. Very unfortunate for what was once a great play.
Be wise with your money from here on out.
What is your point?
It was a picture of a farm. My dog could find a picture of a farm on google.
What it wasn't:
- It wasn't a confirmation of purchase order for said peppers.
- It wasn't a confirmation of the peppers even being ready for purchase.
- It wasn't a confirmation of buyers lined up for percentages of harvest.
- It wasn't a confirmation of revenues.
What it was:
- A picture
- A picture with an extremely vague statement not pertaining to anything worth while
That's easy to say now that we know what the price is.
What's your point?
He tweeted a picture of "a" farm and alluded to "trying" to pay them off.
This is just another fluffy tweet that allows someone of his stature to create an ambiguously leading comment, all without saying much of anything. Nothing of substance.
Most often notes convert based on some type of percentage based on lowest PPS over the course of a number of recent trading days. The lender ALWAYS gets a substantially lower price compared to going market value no matter when they convert or what the current PPS is. In short, they don't necessarily care what the price is.
Everyone should read this about the phases of penny stocks. It will shed a little light on what could POSSIBLY be going on here.
https://toohightoolo.wordpress.com/2015/05/16/otc-toxic-debt/
Can you explain how we are to put our faith in the statement that these notes will not convert?
Also, if a note converts, it doesn't matter what the price is. The beneficiaries of a conversion do not rely on price like that.
I am sure he is doing just fine with however he financed those buys. His buys is what led to a lot of the price action. If I were a CEO in this land, I bet I could figure out a way to buy shares and not care if the price dropped.
Not saying this happened, but it is a possibility that wise investors should consider.
Easy to say but not easily confirmed (one of largest OR non-insider).
Great update. Learned a lot. Just what us shareholders were waiting all week for. Nowhere but up, yeah?
Old news
Good post. This is all I was trying to get at, without using that dirty word.
These things have been constructed as mirages in many cases. Not saying that there is funny business going on here, but the potential is there.