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The reason it's not is that there are less than 5 million shares in the float and less than 10 million shares OS. Any reasonable announcement of new revenue is bound to send this thing flying.
Let's take those one by one...
1.) mCig did not sign up to be a sponsor of FarmOn like the companies you mentioned. Those companies gave FarmOn a donation period. mCig and FarmOn signed a partnership agreement to do business together. One proof of that is that they formed a joint venture and the CEO of FarmOn became the CEO of the joint venture. Paul was following the business strategy that was predominant in California at the time were virtually all MJ companies were organized around non-profits. It allowed them to claim all the costs of growing as a cost of goods (i.e. inventory) since they would be purchasing the product (from the non profit) instead of growing it themselves (normal business expenses of MJ companies could not be claimed as a tax deduction).
2.) (I think you meant trial) We don't know that the crop failed. That was FarmOn's claim. However, they broke their contract and wouldn't let mCig reps on their property to verify what happened. mCig sued them but for all we know the crop could have been sold elsewhere (perhaps they thought they could get a better deal). In the meantime, judging by the number of licenses granted by the state and the fact that they were reporting, it's obvious that others were successfully growing hemp in the state.
3.) The pandemic was the last straw not the excuse. Shortly after the OBTX dividend was announced Alex Mardikian had set up partnerships with HaulTail and several other companies for digital advertising. Unfortunately, at about that time mCig's deal with FarmOn fell apart and their revenue expectations dried up. OBTX couldn't fund their partnership obligations since the SEC was dragging their feet in making them public and in the meantime, mCig couldn't offer any funding. Their partnership agreements dried up and OBTX was forced to wait for the SEC. They didn't get the OK to start trading until last April, in the middle of the pandemic. I don't think anyone would argue with the fact that the timing isn't optimal right now for kick starting a new company.
LMAO When was the last time your claims ended up being the real reason the pps went south. When the criticism is fair or accurate I let it go, but, it's all too easy to make baseless accusations about a company based on made up assumptions and misleading information.
LOL Fact is, this blog has little to no effect on the pps and I doubt there are many Europeans reading my posts. I just like to keep people like you somewhat honest.
SMHL How does having more European shareholders translate to a higher pps???? I was responding to your disparaging remark about Europeans controlling Bots' Facebook page to point out that Bot's was now trading on a European exchange. I made the observation that it might be an advantage if Europe's economy isn't as hard hit by the pandemic as the US economy is (i.e. there may be less downward pressure on the pps). That may be why Bot's pps has been trading in a relatively stable range roughly between $.025 and $.039/share.
Straw man argument. Why would anyone expect trading on a new exchange would result in a higher pps? No one made this claim.
Debunked Again!
SMHL You keep railing against Paul but he's not calling all the shots anymore. First Bitcoin now has voting control over the company. They recently set up a new Board of Directors. The Business Plan is now First Bitcoin's plan...
07/21/2020 BTZI 8-K
I wasn't pushing any narrative for about the past year as it became apparent that mCig had abandoned the FarmOn project, ObitX wasn't going to get quick approval to go public and the pandemic set in.
They have a contract with a chinese factory which is supplying the initial production.
New PR is out...
Armata Pharmaceuticals Announces Second Quarter 2020 Results and Provides General Corporate Update
Hopefully, we'll see the first customer shipments in September or October.
That's a different company (too bad since they have over a billion dollars in assets). This company was co-founded by Yura Mitskevitch...
Elbrus Capital Group
This is an interesting and potentially lucrative new direction for their software team. By focusing on bank owned (e.g. foreclosure) real estate, Bot's can get a foothold on an important niche market. Here is some interesting background reading...
17 BLOCKCHAIN COMPANIES BOOSTING THE REAL ESTATE INDUSTRY
How Blockchain Technology is Changing Real Estate
You're the one being played. This is a fake study. Look at the website. It was created specifically to display this study. It's not being published in a respected medical journal like all valid studies are. You can't simply compare countries without getting into specifics about the number of patients in each country, how many were specifically treated with HCQ versus other treatments or no treatment, compared to the same variables in other countries.
The Russians are playing you chump. They're trying to make Trump look good. Trump's own FDA says it's useless and not safe. Check out some real studies published in real academic journals...
HCQ Studies showing no benefit to HCQ
Personal information is unavoidable. They'll have to file 1099's for tax purposes just like any broker would. Like any brokerage, crypto exchanges are becoming more and more subject to government regulations which would include privacy and fiduciary rules...
The US Cryptocurrency Landscape Is Changing - Here's What You Need To Know
BTZI has indicated what they expect...
BOTS, INC. TO REPURPOSE THE FIRST BITCOIN CRYPTOCURRENCY “BIT” AND USE IT TO PAY AN INCOME PRODUCING ASSET AS DIVIDEND TO SHAREHOLDERS
NB: There was a typo on my previous post. I expect financial valuation of the First Bitcoin acquisition on the 1FQ21 (not 2FQ21) 10-Q due in mid September.
You need money to make money and mCig had them on a short leash while mcig was facing its own revenue problems. Combine that with the uncertainty of whether they'd be able to raise money by issuing stock next month or next year, and you don't have much opportunity for moving forward with any kind of business plan. Moreover, their precarious position would be a disincentive for any customers to sign a long term contract of any kind.
People haven't figured out how to value this yet. This may change after the 2FQ21 10-Q financials are published around mid September (if not sooner - it will include valuation of the First Bitcoin acquisition).
Time to update that number Rat. BIT is currently trading at $0.010168. That means our BIT dividend is currently worth roughly $.010168/share (or $101.68 for every 10,000 shares you own).
Coinmarketcap.com - First Bitcoin BIT
Let's see, 10,000 shares of BTZI at today's closing price of $.0325 would cost $325. Hmmm.
That doesn't do the company much good if a large part their target customers are consumer facing businesses like retail stores or restaurants. Until we see their business plan we just don't know how the pandemic is affecting them.
What is your problem with the ATM's. mCig/Bots owed Paul money. Paul accepted the ATM's as payment. Shareholders benefited from that. Paul is now selling the ATM's to companies that expect to use them with their cryptocurrency. How exactly is this a scam? Where is the harm to shareholders?
Hawkins needs to figure out how to make ObitX a success or he's going to have a big tax headache by April 2023 (since the stock is restricted for two years). He'll have to claim $40,137,788 in earned income at that time ($14,000,000+ tax due at 37% tax bracket). The stock was granted at an average price of $5.35/share. At $1/share he could only sell those shares for roughly $7,500,000.
I'd say he has plenty of incentive to increase the pps, - and don't say he can just sell his shares on a pump. As CEO he has to report the sale plus, OBTX has not sold more than 37,000 shares in a single day since it went public (there are currently only roughly 5 million shares OS). Even if he tried, he'd take years to sell all his shares at that volume and probably lose a ton of money.
So when people tell you he's going to take investor money, ask them how.
Hawkins took over the company on April 17, 2020. The financials are reported through April 30. Considering the pandemic, Hawkins hasn't had much chance to do anything yet. I'd at least give him a couple of quarters to develop and start executing a business plan.
He needs to figure it out or he's going to have a big tax headache by April 2023 (since the stock is restricted for two years). He'll have to claim $40,137,788 in earned income at that time ($14,000,000+ tax due at 37% tax bracket). The stock was granted at an average price of $5.35/share. At $1/share he could only sell those shares for roughly $7,500,000.
I'd say he has plenty of incentive to increase the pps, - and don't say he can just sell his shares on a pump. As CEO he has to report the sale plus, OBTX has not sold more than 37,000 shares in a single day since it went public (there are currently only roughly 5 million shares OS). Even if he tried, he'd take years to sell all his shares at that volume and probably lose a ton of money.
So tell me again how he's going to take investor money.
Debunked Again
The "Net Loss" came almost completely from the award of preferred shares to the new management to establish controlling interest in the company...
Obitx released their 1FQ21 10-Q thru 4/30/20 today...
OBTX 10-Q
Obitx released their 1FQ21 10-Q thru 4/30/20 today...
OBTX 1FQ21 10-Q
Some highlights...
No revenue, however, Mike Hawkins was named CEO on April 17 so there's virtually no record on his performance yet. Most of the news is contained in the following section...
I'm keeping an open mind, particularly since I don't pretend to be an expert on cryptocurrency. However, your analysis has a significant flaw, You conflate BIT tokens with BIT coins. First Bitcoins currency is a coin whose value can be tracked at...
First Bitcoin BIT - coinmarketcap.com
There's also a token with the same name - BIT (aka Block Estate) and a different value. I suspect this was the value used in your analysis.
Token vs Coin — what’s the difference?
I reviewed your links and found a lot of inuendo but little concrete evidence of any wrongdoing. The critique seems to rest on improper valuation of the BIT coins used in the loans. However, looking at the historical data on Coinmarketcap.com, the BIT value seems to be accurate.
What seems questionable to me is that currently, there doesn't seem to be enough trading volume to support redemption of a significant number of BIT coins. However, if I'm not mistaken, it could be converted to BTC which could then be cashed. Moreover, if BTZI's plan to give a dividend is successful, or if many more ATM's are installed, there will be a lot more BIT in circulation in the future, thus solving that problem.
If First Bitcoin plan was to have Bots become their vehicle for valuing their assets, the plan may succeed. The 600,000,000 BIT coins that KNOS received for their $1,000,000 note would be worth $3,732,600 at today's market valuation of $.006221/BIT...
Coinmarketcap.com First Bitcoin BIT
On December 31, 2018 BIT was valued at roughly $.0018 so...
$.0018 x 600,000,000 BIT = $1,080,000
If you look at the July 13 BTZI PR...
BOTS, Inc. Completes Acquisition of Majority Ownership in First Bitcoin Capitals Crypto Assets
...it states that BTZI acquired...
Thanks for the clarification.
It's unclear from the available information where those ATM's came from. First Bitcoin could have acquired them when they acquired their ATM Kiosk Patent. Their January 2020 Form 20F states that they have a subsidiary named "Bitcoin ATM Franchise Holdings Corp.". I would think they might own some ATM's, or they could have purchased the ATM inventory from Paul or simply acted as a sales agent for Paul to sell the ATM's to KNOS.
In any event, I suspect the ATM's will eventually end up with the subsidiary, Bitcoin ATM Franchise Holdings.
Please list the source of your quote. Is that note from a Bots, First Bitcoin or Kronos financial??? Who is "the Company"?
FYI all posters: It's easy to provide a link to your quotes. Please put the link into your post, highlight it, then click on the "Url" button on the left. Replace the text between the [tag] and [/tag] with a description of the link (e.g. "Bots, Inc. 10-K"). That description will then be a link to your quote source. Quotes can also be designated by simply highlighting the quote and clicking on the quote button on the left before you submit the post.
I honestly don't know. We haven't spoken since February. He's still CEO but First Bitcoin management will be the largest shareholder and eventually have 50% voting control. It seems apparent that Paul's role will be somewhat diminished as decisions will at least need the tacit approval of First Bitcoin.
The ATM's ended up with Paul. According to the financials, he took them as payment of debt that mCig owed him. There's no reason he can't sell them back if needed or sell them to ATM franchisees.