is too big to fail
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Here's the requirements, you're correct, $40MM for an IPO, so they only need to increase the current stock price by about 700% to meet it.
Doesn't matter, they don't meet the other requirements either.
http://www.venturelawcorp.com/listing_requirements_nyse.html
and I'd consider this part particularly ominous...
may apply additional or more stringent criteria based on the NYSE's review of the Company, an event, condition or circumstance.
shhhhh.....you're going to ruin people's dreams with your silly reality check.
$100,000,000 market cap required for listing; current market cap is about $6,000,000
NYSE listing is never going to happen.
lol...looking at the current condition of BW's "financials", it would not surprise me if they qualified as an "extreme case"
Agreed. One can be easily fixed by hiring a competent accountant.
Of course, who knows what the results would look like then.
lol...I wasn't trying to be secretive, it's just clear that when you actually add up the assets and liabilities that they don't balance.
Look closer...
OK, this ranks right up there with his most ridiculous "financials". What he has done, since he realized that the original balance sheet didn't balance, was change the Liabilities and Owners Equity to balance with the Assets.
What he didn't do was change any of the underlying numbers (A/P, shares, equity), so it still doesn't balance.
Completely embarassing. He obviously has no idea of even the most basic concepts of finance. Forget audited financials, how about financials that make even a modicum of sense?
Agreed. But the truth only hurts him now because of what he said before.
Plus the fact that any further dilution is going to absolutely kill current shareholders long before they reap any potential benefits of the growth.
That last part was imo....
I was saying what he should have said back in June (or whenever it was). Once he said what he said in June he pretty much screwed himself. Again.
To answer your question though, having said what he said previously, there's really nothing he can say now that wouldn't get the exact response that he's getting.
Very hard to logically read his statement any other way. And he did not address the re-gagging of the TA.
What's a person to think?
Something like "At this point we can finance our projected growth through incoming revenue, but if we are fortunate enough to vastly exceed our sales targets it may again be necessary to issue shares to fund this growth"
But that wouldn't have had the same effect with shareholders as "no future need for capitalization".
To this point, all the "growth" has not helped the share price.
Over time, the ongoing dilution has killed the share price.
The only thing that has helped the share price is promo and momo.
Strange how "no need for future capitalization" turns into "we are using stock as a means to raise the funds or borrow funds to complete deals".
If he would just stop putting his foot in his mouth with promises he can't keep he would be a lot better off.
Look, everyone understands that business conditions change. But you can't keep making unilateral definitive statements, renege on them, and then claim "well, I meant it when I said it"
Let's look at the math behind this assumed buyback, shall we?
With an o/s of 2.4B (give or take), what would you all consider to be a meaningful buyback? 1%? 5%? 10%?
Let's run those numbers:
A 1% buyback would be 24 million shares, which at today's price would be roughly $110,000
A 5% buyback would run the company about $550K
10%? $1.1 million.
The latest "financials" claim they have $298,386 in cash. Of course, the cash flow statement says they had $588,873 in positive cash flow, but that's a discussion for another day.
I would consider a 1% buyback to be token, at best, and even that would take over a third of their available cash.
Quite simply, it ain't gonna happen. And to be fair, it makes absolutely no sense from a business standpoint to do one.
Let's see; the last three posts have been about a gagged TA, "Shorty", and MMs playing games.
Stop me if you've heard this before....
Just waiting for NSS and/or off shore hedge funds and we'll pretty much have all the bases covered.
Whoops, looks like I missed the one year anniversary without a post party...
Agree.
Market cap is just shares outstanding X price. The price is down today. Are you suggesting that the o/s went up?
Yeah Sammy, no need to repeat old news when sooner or later he'll say it again, so then it will be new news.
rinse, lather, repeat...
Absolutely correct. I'm sure the looses were probably hugh too...
The facts are XXXX is bona fide (imo!)
but in fact that's just his opinion....imo
Listen, this is a doggy-dog world out there
woof....
I'm just posting facts and not pulling random antidotes out of my butt.
Thank you, Doctor....
That was $1225 worth of "paint" at .0049
The three prior trades at .0051 totalled $190.
yup, 50,000% is better than 700%. It's also a complete fantasy.
From its absolute low (post r/s) of .0003 to its closing high of .018, that's a 6,000% gain. That's not good enough for you? And that's if you timed it absolutely perfectly.
Even you said "until the time is right". What time is right for you?
btw, what exactly is "opine nonsense"?
I said "imo". Or are you questioning my math?
If you think trading pinks is an all-for-one, one-for-all activity then you're sadly mistaken.
IMO (in my opinion)
Which is the danger of holding any pinky "long".
Of course half the people here saying that they're holding long are taking profits on every bump; all the while yelling "buy buy buy"
imo, obviously...
Not to nitpick, but at .0048 it's actually up 700% ytd, not 1500%.
It was at .0006 on January 2, 2012....
Of course, it's also down 73% since August 16.
I'm sure you've noticed this already, but did you find anything curious in the last "interim financial report" (insert chuckle here)?
From the June 30 report,
Cash: $198,034
From the Sept 30 report
Net Cash Flow: $653,890
but cash is now only $367,583
by my math, $198,034 + $653,890 = $851,924
Of course, if you actually look at how he calculated the cash flows you'll quickly see why the numbers don't add up. But it kinda makes you wonder how much money they actually have, doesn't it?
he is thinging different than us
Or, as Descartes might have said, "I thing, therefore I am"
Here's the problem. If he reverse splits this again people will abandon ship in droves. It doesn't matter why he says he's doing it; smart "investors" will bail and save what they can. He'd be a two-time r/s offender, and in pinky land NO ONE is going to pay .50 or so per share for a dilution machine. That's the bed that's been made over the past three years.
Remember, the stock has to hold a .10 bid price for 90 days, and depending on the magnitude of the split that may be tough to do.
And let's not even get into the bigger issue of what the audit might turn up....
all imo
Personally I don't think it will ever be able to meet the requirements, but I was giving it the benefit of the doubt.
It won't happen in 2013 imo
Here's the requirements for OTCQX, never mind Nasdaq.
http://www.otcqx.com/qx/otcqx/requirements
Doesn't mean you can't make money off it, just like any other pinky, but uplisting talk is a smokescreen.
There's far more listing requirements for OTC and Nasdaq than just minimum trading price, and BBDA is not even close to meeting them.
Realistically, from a corporate governance standpoint, this company is years away from even considering meeting the uplisting requirements.
Hey, it looks like there's a mod opening if any of you "longs" are interested.
Gotta keep it balanced, you know....
Because BBDA has clients and distributors that Coca-Cola doesn't? You truly can't be serious....