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Yes, 1.5 billion volume sounds about right. The volume over the last 10 trading days was 1,340,962,056 shares, to be precise. So the average volume over the last 10 days is 134,096,206 shares per trading day. But the post I was responding to said that the company is raising the O/S by over 100 million shares each day. Several of the last ten trading days didn't even have 100 million in total volume. But if we go by the average volume over that period, then to say that over 100 million per day of that volume is dilution is to say that the dilution rate is over 74.6% of the average daily volume. So I couldn't agree with that post because in my opinion that overstates it.
Now on the other hand, you have estimated that in the last 9 trading days 35% of the volume has been dilution. That sounds more possible to me, but I really don't know. I suppose if anyone wants to, they could get the latest O/S figures and compare that to the total volume over the same period in order to calculate the percentage daily change since the previous figures. That would determine the percentage dilution over that period. But still the dilution rate can change at any time.
There is rarely that much volume here on an ongoing daily basis. And what volume we do have is not all dilution. The dilution that has been documented on this board is far lower than what you suggest.
Very interesting! Thanks.
I find it so difficult to interpret Life Clips's charts because we were incorporated in Wyoming on April 8, 2014, but we changed names in November, 2015. So we're either Aries or Scorpio. But I would say it's safe to predict that change could happen at any time.
Maybe the company is using the Julian Calendar, in which case today is only October 5th, and they still have eight days to file. ;0)
Yes, sometimes Fidelity can be too conservative. I'd really like to have bought more of this today.
Thanks. The wait sure feels long, doesn't it? Seems like we've been waiting for the annual report since Spring. In a month it will be time for the third quarter report.
Yeah, those are good questions.
I went to put in a buy order this morning, but it turns out my brokerage won't allow buy orders for pinks with "no information". Just great. By the time the 10-K gets filed and we go "current" again, the pps will be way up. At least if the news is good. Oh, well.
The SEC site gives a good explanation. I think we can trust the SEC site to give accurate info on SEC filing requirements. Life Clips is in the of "Non-Accelerated Filer" category because the float is less than $75 million. So the deadline for filing 10-K annual reports is 90 calendar days after the end of the quarter. The deadline for filing 10-Q quarterly reports is 45 calendar days after the end of the quarter.
SEC site explanation of filing deadlines
As for the extension deadlines, that is made clear on the NT filing form which Life Clips filed. An extension for a 10-K annual report is 15 calendar days, and an extension for a 10-Q quarterly report is 5 calendar days.
"[X] (b) The subject annual report, semi-annual report, transition report on Form 10-K, 10-K, 20-F, 11-K or Form N-SAR, or portion thereof will be filed on or before the 15 th calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, 10-QSB, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date;"
NT 10-K filed by Life Clips
The second quarter ended on June 30th. So the 10-K was due 90 calendar days later, which was September 28th. Life Clips filed an NT 10-K on September 28th, giving it an additional 15 calendar days to file. So the 10-K was due on October 13th.
Hope this clears up any remaining confusion.
The initial filing for a Q (quarterly report) is 45 calendar days after the end of the quarter. An extension for a Q gives the company an additional 5 calendar days. The initial filing for a K (annual report) is 90 calendar days after the end of the quarter. An extension for a K gives the company an additional 15 calendar days. So since we filed for the 15 day extension, our annual report was due on October 13th.
This is from our NT 10-K:
"[X] (b) The subject annual report, semi-annual report, transition report on Form 10-K, 10-K, 20-F, 11-K or Form N-SAR, or portion thereof will be filed on or before the 15th calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, 10-QSB, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date;"
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12299818
Sorry, but the NT 10-K gives 15 calendar days, so the annual report was due on October 13th. However when it is filed, the stop sign will be removed and we will be current again. Wish the company didn't keep doing this.
From the NT 10-K:
"[X] (b) The subject annual report, semi-annual report, transition report on Form 10-K, 10-K, 20-F, 11-K or Form N-SAR, or portion thereof will be filed on or before the 15th calendar day following the prescribed due date;"
Yeah, lots of questions. Well thank you for all your research and info. We'll just have to wait it out I guess. Thanks for keeping us posted.
That's the part I don't follow. I don't see how we maintain pink "current" status if we are delinquent. For example, we were late in February this year, and after a few days OTC markets listed us as "delinquent" until we went "current" again in March with the late filing of the 10-Q. Unless they have different rules that I am not aware of when the Annual report is involved, versus the quarterly report. So I'm puzzled why we would remain "current" for an additional 2.5 months after the 10-K became overdue. I can see "Pink delinquent", but not "Pink current" status.
I suppose we'll see within a day or so. Hopefully management makes all this moot by filing the 10-K.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=128903511
Oh, I see. They remain pink but not current. Yes, that makes sense. Thanks. I suspect current status will disappear from the OTC site shortly, unless maybe the 10-K comes out in very short order.
Thanks for posting that info, Digging For Pennies. I'm just puzzled over one part of that. They said we have 2.5 months left of current status? In the past within a few days of going delinquent OTC Markets removes our current status until we go current again. Did they explain why this time would be different?
They lose their "current" filing status until they file, and then it is restored. Not good. Looks bad. But it's not the end of the world if they're only a few days late.
Dan, I'm really sorry to see you go. You've been fun. But can I take this opportunity to ask you one last question? Since this is "The Question and Answer Board", is it off topic to post something that isn't both a question and an answer?
Yes, very likely.
Unless we use the Chinese calendar, in which case the 10-K is 2,698 years late.
The 10-K is due today, not tomorrow. The company gets 90 calendar days to file after the end of the second quarter. Ninety calendar days after June 30th was September 28th. On September 28th the company filed an NT 10-K, giving it 15 additional calendar days to file. Fifteen calendar days after September 28th is October 13th. Now, I know it's Friday the 13th, and maybe they wanted to put it off for a day, but hey. ;0)
Yeah. Probably best. My husband's still asleep, and the cats aren't going to move until the house warms up. Think I'll just wait out the 10-K. ;0)
Thanks again, Zatafor!
Thanks for posting that. As always we have to be prepared for the possibility that they will miss the deadline. It has happened before, sometimes by a day, or even more. Not good, but not the end of the world either. If we lose "current" status, it will be restored once they file. Here's hoping the 10-K is out today.
Should I do the litter again? The other day I went downstairs to scoop the litter, and this thing went nuts. Or should I just wait out the 10-K?
Yes he did, didn't he. VNDM and VFIN both sitting at .0068. The V's are parked out of the way.
It's fifteen calendar days, so that would be today, regardless of holidays.
From the NT 10-K:
"[X] (b) The subject annual report, semi-annual report, transition report on Form 10-K, 10-K, 20-F, 11-K or Form N-SAR, or portion thereof will be filed on or before the 15th calendar day following the prescribed due date;"
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12299818
Great news!
I think so too.
Now, it may be that they don't get the 10_K out on time tomorrow. That has happened before, and I'm sure it will cause all kinds of consternation on the board if it happens. But it won't be the end of the world. We always get it eventually, and if we lose "current" status briefly, we'll get it back. Just saying. However, we may see it tomorrow as expected.
So will I. :0)
Both VNDM and VFIN are now parked at .0068.
Yeah, looks like VNDM jumped back in today, but not by that much, at least for now. Much appreciate your updates.
I agree. I don't think this is dilution. It's normal profit-taking IMO. VFIN and VNDM have been parked out of the way for days.
Yes, I too suspect this may be related to what is coming this week in the 10-K.
200 million.
LoL. And now .0014's up. Better check that litter again because I smell success! ;0)
We just set another all-time volume record. Gotta give those cats a nice big treat. ;0)
Thanks, Zatafour.
I just went downstairs to scoop the cat litter. Got back to find this thing racked up another 50 million in volume and upticked several times. Think I'll see if I can get the cats to go again!
We broke 100 million shares in volume again today, an hour earlier in the day than yesterday.