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They are done. Outstanding shares are not increasing since Wednesday. Go through all filings and loan term then do the math. It is done. Also the dilution dealers may be on the ask at times but they do not fill the orders on the ask. Why wouldn't they if they have shares to sell? Conversions are done BUT people will wait until the company officially states it. Then the pop will come. I'm actually hoping they wait a few days before saying it because I want lower prices. I'm just being honest. Would love 001 to 0012 to come and then a debt free PR after that could pop it back to 005.
Yea sounds about right, might even get PAR, depends on when they next put out a PR. I'm looking to load back up in the same range.
Yea when they formally announce in a PR that they are debt free. I have no idea when they might do that. I believe they could at anytime. When and if they do the stock will pop hard like all other OTC stocks do when they publically state debt free. I've never seen one that didn't. It will not happen until the company official states it though eventhough through good DD of what is already public info strongly suggests that they are debt free.
No it isn't speculation. Numbers from the transfer agent are real. I can understand not trusting Joel but saying the transfer agent numbers are speculation? What is wrong with some of you people?
I sold too at 19. There was a bounce from the gap down this morning at 13 all the way up to 002. Nice bounce for me as I bought 14s.
The outstanding shares stopped increasing since last Wednesday. That is the definition of dilution. Shares being issued. If shares are not then there isn't dilution. It doesn't matter which dealer is on the ask. Which dealer is on the ask is not the definition of dilution. A lot of stupid people that post here. Those dealers you are talking about don't only dilute. They do other things too. Now why will they only sit on the ask only when protected by a retail dealer. Why when the retail dealer move the dilution dealers move? That is because they can't fill any ask orders.
I do not think it is a maybe at all. My calculations are that 700k in convertible debt which was the totality was converted into issuance of 700 million shares at an average price of PAR 001. I strongly believe conversions are completely done and this company is debt free. When Joel PRs that and I can't imagine why he would not then this pops hard. Ever seen a penny stock not pop when announcing debt free or end of convertibles? I haven't.
Yea same numbers since last Wednesday. I know, I check everyday ever since I started flipping this. I don't have time for pumping or bashing. I just give info. I have been telling people since late last week dilution ended because it was fact as evidenced by the outstanding not increasing anymore. It was not opinion. Anyway what happens when/if the company puts out a debt free PR or something like it? I think we all know what happens. Now I have a small position because I think the nervous nellie sell off will continue for a couple of days. Then it will be primed for a bounce and the catalyst will be a debt free PR in my opinion as I believe that the company could PR that anytime they wanted to now.
In your email request to the transfer agent did you provide your name and contact information to include your phone number? If you did not you will not get a response back. Mike who works there will respond to you but you have to provide that info. I do and he respones back to me no problem. Heck last week he was even telling me how feed up he was of people requesting share structure info without giving their contact info and name. Don't shoot the messenger. It is just common courtesy. Also for those beating on this all weekend I appreciate the 14s I bought and sold at 19. Good day everyone.
They refuse to here it man. I've tried to tell them 3 times the past few days note conversions are done, MJMJ is debt free.
1) It came straight from the horses mouth. And no that is not inside information if anyone tries to suggest that as filings and loan terms are public and can be calculated.
2) Going through all the filings and loan terms 700k of debt was converted into 700 million shares for an avg price of PAR 001. People say a Magna note still has to convert. It already converted. The last day it could be paid back or converted was July 10th but with these loans the company or lender can decide to get it done before the last possible day. It been converted. It is done. This company is debt free.
3) Conversions ended last Tuesday. Outstanding shares did not increase Wednesday or Thursday. If conversions are on going how does the outstanding shares stop increasing. It did because it is done.
4) The dilution dealers don't do squat on L2 the last few trading days. They hang around on the ask only when protected by a retail dealer. Retail dealers have been filling all of the ask orders the past few trading days.
Right there everyone has 4 things that shows dilution is over. People could read filings and loan terms which are public and do the math but they don't want to. People could watch level 2 but they don't want to. People could email the transfer agent and get numbers after each closing day but they don't want to. People could text and get confirmation straight from the horses mouth but they don't want to. Cannacamp is a negative and will have negative effects. However an OTC company being debt free is a big positive and it will have positive effects. Conversions and dilution are done. As with any other OTC company that publicly states "debt free" or conversion free this one will have a sizable bounce. I'm not sure when they will declare that publicly but I know that they could any day now. If people are paying attention though and doing the DD they could easily figure it out before the company announces it to the public. After all the information needed is already public.
I strongly believe that all notes have been converted and MJMJ is debt free. I've calculated that 700 mil shares were converted from debt of 700k with an average conversion price of PAR 001. I will be very surprised if there is any debt left as the math and calculations strongly suggest the company is now convertable debt free.
The CEO needs to come on out with it and say exactly what the situation currently is regarding canna camp and state the plans regarding canna camp. The fact of the matter is if what is said by the author in that article is true it is better for the stock if the CEO puts out a PR and states the full situation coming from him. Even if it will be looked at as a big negative transparency as soon as possible and best if done in a PR tomorrow regarding what exactly is the current situation regarding canna camp is paramount. Whether it is good bad or ugly it is best for shareholders, himself, the company and indeed the share price to give the current situation stated directly and clearly from him as soon as possible. If he does tell it the way it is regarding the current canna camp situation and it is indeed negative then he could use a big positive to counteract. For instance if conversions and dilution has ended as it seems it may have because outstanding shares have not increased in the past 2 days, then he needs to PR that as well. That would be a big positive that could counteract and it would be effective. If I were CEO this is exactly how I would handle this situation.
The outstanding shares has stayed the same and has not increased for the past two days. You are correct that it may seem that dilution/conversions ended.
Have to say this caught my eye. Have a few million shares that I bought over the last week. Have not posted here but been reading. It was really quiet here. Seems that things are picking up a little here on the message board. Starting to see it a little on L2 and on some of the chart indicators as well.
All I know is I got to buy a bunch more at 30 to go with my 30s Friday and got to sell them at 34/35 and then got to buy them all again at 30. Just don't understand some of you folks.
I made that post more then two weeks ago. That was the assessment of the conversion dealers at the time. Things on the OTC change very fast. I will say though that this last Friday VFIN moved back, way back about 30 minutes before close. VNDM and BKRT were not really involved and BMAK had moved back to 0045 after lunch time, so as of close on Friday things looked good concerning that. In a few hours we will see how things are shaping up.
No problem and thanks.
Outstanding shares are about 650 million or so, as of Friday. Authozied shares and outstanding shares are two very different things. How are there so many people here that don't know the difference? It is basics. One of the very first things someone should learn and yet so many here don't know the difference. When I was 18 years old I started trading stocks. Among many other things share structure to include restricted shares (shares held by insiders), authorized shares (max amount of shares a company can issue), outstanding shares (shares that the company has issued, float (shares circulating in the market or in other words outstanding shares minus restricted shares), PAR value (the minimum price per share a company can issue at). Share structure knowledge and what each are is something all need to know.
In fairness to quickdrawl you mixed up oustanding shares and authorized shares not once but multiple time so yea it does come accross that you dont know the differance. It is very important that you do know the differance. You are not the only one. I see many posting here doing the same.
Dilution/conversions suck for the shareholders that hold shares while it is occurring. Once finished though or ceased for a decent period of time, well that is a different situation. Despite the increase in authorized I believe that the conversions will cease for a decent period of time very soon.
Now that is interesting. You are hearing that some big money momo players say to heck with MJMJ because of that filing. I like hearing that actually. First off many of those guys are bad not good for a stock. See what many of those guys do is they front load and then start pumping. You may think a stock needs their money but they don't put in any more money after they have front loaded. While they are front loading they don't tell anyone so in all reality while they are buying they are usually not helping the price rise. Once they have front loaded they then tell their followers to load up and then the group as a whole starts pumping. Another reason it can actually be good those big momo players don't enter is because they tend to crash the stock hard once they have had their way with it. Believe me when I say they are not nearly as important as you may think they are or as good for a stock as you might think. Not all of them are bad for a stock, some are, some arent. Depends on how they orchestrate.
Many knew of the increase during trading hours and it didn't seem to hurt very much. There might be a little pain the first few hours of trading on Monday but not the overblown forecasts some are posting. They are authorized shares. They are not even issued. They are completely meaningless until issued. Math shows conversions are done or near done. People in all reality are going to be more interested that BMAK VFIN BKRT VNDM have their thumbs up their ass on next week and less interested about some shares that are not even issued that sometime in the off future may be issued. The next two weeks what is important is that the 4 horsemen have their thumbs up their ass and MJMJ gets hyped ,not currently meaningless non issued shares that have zero chance of making it to the float in the near term. By the way earlier in the year I bought Vapor hub stock after they increased their authorized 8 fold. Man they were freaking out when that filing hit. Yep I bought shares and yep I am up about 200 percent since. You can even go to that message board and look all the way back to February all until now. I was right all along the way there. Pretty sure I will be right here too. Confident at least.
One thing I know is that if a little birdy told me that the opening were to be delayed by 4 whole days first off that wouldn't hit me as such a big deal at all and second if for some strange reason it did bother me that much I sure as heck would be very very quiet about it. That way the very next trading day I could make my exit. The very last thing I would do is scream on a message board in capital letters all weekend about what I had supposedly heard. What you are proposing and your behavior are in severe contradiction.
Yes I do believe the conversions are over. In totality on June 17th the company stated 290k of convertible debt was still outstanding. If you low ball it and give the conversion price at PAR .001 then 290k of debt would equate to 290 million shares. Since June 17th the outstanding shares issued has increased just about 300 million shares so yes I say it is finished or extreamly close at least. Some think Magna has another note converting in a few weeks. I think it has already been converted. At any rate the current conversions that hit this week are certainly done. The Typenex and TJC loans. D U N done. Even if Magna has another note in a few weeks not yet converted (again I think it has been already) but lets say it hasn't. This gets to trade clean for weeks without conversions and with hype galore. That is a good recipe. Notice how VFIN was dorking around today? That is because he had nothing to convert. He just played whack a mole on the ask. Slipping and sliding making sure to stay on the ask without filling orders on the ask. CDEL and NITE had to fill almost all ask orders. Not typical behavior of the mighty VFIN to just dork around on the ask all day. The other 3 of the 4 horseman BKRT VNDM and BMAK had nothing. BMAK and BKRT dorked around a little but didn't really do anything. The 4 horsemen had nothing to convert they just tried to put on a little show is all.
In all honesty I am not nervous. I don't trust the OTC. I don't trust OTC companies. I don't trust CEOs. I especially don't trust OTC MMs/dealers. I do like math though and as I have explained logically a few times the math adds up that conversions have about finished. The amount that the June 17th PR stated was left would have equated to about 250 to 300 mil more outstanding shares issued and that is just about the amount that has been added since that date. That is it. That is where I put my trust. I also believe in the hype and exposure this is already getting and will continue to get. I feel confident. That PR you are talking about though it did state that there were still 290 thousand in convertibles left at that time so I don't feel that anyone should feel mislead. The company did put out the information at that time.
One could have known of the increase this morning but the company itself didn't file the 8k until after close. My guess is that it is 50/50 on the amount of traders that knew during market hours and traders that didn't.
This is why I believe VFIN was lurking around the ask. I believe he is tapped out. Again the simply math would suggest that he should be, however he is a shorter too so I think he may have been doing what he does knowing about the increase. Watching L2 today VFIN was on the ask all day and was ax a large part of the day. It was easily seen however that he doesn't have much shares because he would only sit as ax as long as a retail dealer was there too. The retail dealers filled 90 percent of the orders on the ask. Once VFIN would be by himself on the ask he would back off quickly with any sizable buying on the ask. Not typical note conversion dealer behavior for a dealer supposedly having shares to dump. In essence not just the math says he should be out but his actions suggest he is out as well.
Monday he may try again but I really don't think he has anything. Also since the increase was known by many already during the trading day the effect already partially hit the stock today. Many of the sellers who wished to exit due to the increase already did.
Yes we should be good to go next week after the first few hours on Monday. Nervous nellies that don't do math and read PRs or filings will be selling Monday morning. It's cool because for there to be winners there have to be losers.
Ill explain this very clearly and straight forward. Nothing much changed regarding the increase in authorized shares other then the CEO received preferred shares which equate to 1 billion if converted. That is why the authorized increased 1 billion. It must be increased and held by the company as the new preferreds are convertable. The authorized WAS NOT increased for note conversions. Don't believe me? Let's do some math.
On June 17th the company stated in a PR that in TOTALITY key word there, totality, there was about 290,000 left in convertible debt. It also stated that about 361,232 dollars in convertible debt had been removed by issuance of 250 million shares. Now do the math. The conversion rate on that debt was .00144 or so. Look back periods and discount rates always must be factored in so .00144 sounds just about right for that period of time. Since then though newer conversion for the remaining 290k in debt actually have a higher conversion rate. Reason is that the lowest low during recent look back periods is .0022 while before it was .0013. Never mind that for a second. Let me be as conservative as possible and use PAR value .001 for the conversion pps of the remaining 290k of debt as of that PR date. That would equate to 290 mil shares. As of that PR the outstanding shares issued were a little less then 400 million. 360 million or something like that. Now add 360 million and 290 million together. What is the total? It is 650 million shares. What is the current outstanding shares? Isn't it now around 600 million or a little more? I do believe it is. Math is beautiful isn't it.
So why the 1 billion increase in authorized if the company already had enough authorized to handle the note conversions? I stated it above. There has to be "collateral" for the recently issued preferred shares that the CEO received. Don't believe me? Let's use math again. He received 100,000 preferred shares at a conversion rate into common of 10,000 to 1. 100,000 times 10,000 equals 1,000,000,000. Exact same as the increase of the authorized. From the math it is plain to see why the authorized was just increased 1 billion shares.
Now this increase will be used by folks or entities who want to see the price drop. If you sell though understand that you will be joining other retail only. Converters have no more shares to get converted. The easy math above shows that. If you wish to sell then sell but if you want to sell just because of fear of more note conversions then you need to look into the math to understand that fear is unwarranted at this time.
Finally I will already predict that some will now say well converters won't have shares to dump but the CEO will. First he will have to file paperwork to do that first. Also the CEO will want to get the share price much higher before he would consider converting his preferreds. Why wouldn't he. I know I would. Bottom line is MJMJ is fine imo and is looking good for next week and the exposure. Remember to not fall in love with it though and take your profits. Use math and logic and just as it was a couple of hours ago there is no reason for this not to have a nice run. Worry about note conversions is fear and the math shows there shouldn't be any conversions. Use math and logic on this, not fear.
Of coarse there are those that are screwing with the stock. They will not make it easy for you. Just read charts. Read and watch L2. Read filings and loan terms and do some math to figure out conversions. If you do those things you get a good prediction of what should happen and then you place your bet. The stock is going to get screwed with though. Even if your DD in totality is good and sound your nerves will be tested. Again they will not make it easy. VFIN for example worked all day on the ask (doing very little in reality) just so there would be folks out there questioning themselves. Good luck and have a good weekend.
I dint think it would close at 38 or better. Not today anyway, next week is a different story. 38 is the battleline. The chart guy might come and do a vid and he might say 39 is the key but it is 38. Fun day here. I enjoyed it. I like my 30/31s yesterday and today. Have a good weekend everyone and see you on Monday.
If 38 gets taken out then this is looking very good imo.
Looks to me VFIN'S objective was to get retail to sell. Watching L2 VFIN sold very little today. He filled some smaller orders and a few medium sized but he sat on the ask and let retail come to where he was on the ask and got retail to sell millions. Just his presence caused people to sell. People have to be smarter though, can't live in fear. It would have been one thing if he was active in selling but he wasnt at all. 90 percent of the sells were done buy CDEL and NITE. VFIN played a nice game of okie doke today.
They "make the market". They can and do whatever they want. Happens daily and all of it is very very legal. Market makers/dealers have a different set of rules because they "make the market". Now explain to me if it is such BS why VFIN has hardly sold any shares on the ask even though he has been there all day. Watch L2. CDEL and NITE are filling 90 % of the orders on the ask, not VFIN. Strange that a note converter dealer is so restraint with his shares don't you think?
The 4 main conversion dealers BKRT BMAK VFIN VNDM are used to convert shares or short or scare. Sometimes they have no shares to sell but the fear that everyone has of them makes them effective on the ask even when not selling shares.
and again vfin backs off. he filled a few orders at 38 and backed off again. he needs retail dealers on the ask with him. he doesnt seem that he can be on the ask himself.
Exactly that is what I am saying. VFIN is filling some small orders on the ask right now. The battle line is 38. Clay trader said 39 in his videos but he is wrong. It is 38. VFIN will do what he can to hold 38. Lets see what he really has.
Yep BMAK just moved back as soon as 38s started to get hit. Who is filling the 38s. CDEL and NITE. If VFIN finds himself alone then one hit and he will back off too. Again been going on for hours.
Watch 38s. I bet if there are buys on 38 that CDEL and NITE will fill. BMAK and VFIN are there but I bet they won't be the ones filling. It has been this way for a few hours now. Just watch L2.
Same goes for bmak it seems. He is a lot less active. an hour or two ago Buckman did the same thing too for a little while. Conversion dealers are scaring retail. Retail dealers have been the ones selling not conversion dealers, it is what it looks to me.
It looks to me VFIN doesn't or isn't selling shares. When he takes the ax he looks for another dealer to join him on the ask. Usually CDEL or NITE. When a buy comes in on the ask the other dealer has to fill the order. VFIN doesn't fill it. Once the other dealer sells out of shares on the ask VFIN sits there by himself. As soon as a buyer buys the ask VFIN backs away. He has been repeating this process for a couple hours now. Why would a note converter not sell shares on the ask. Why would he also allow retail dealers to fill the orders instead of him when supposedly he has conversion shares to sell. He wouldn't if he really had shares. So why is he doing what he is doing. He knows he scares people just being there so by just being there he gets retail to sell by joining him on the ask. Retail fills the orders though not VFIN.