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Yes.
They go to the court and claim the company owes them for services.
The court then awards them shares instead of cash.
They then shop the control block they obtained.
This is how these kinds of actions happen.
Got to see if the $5 holds.
Probably going to do a leg sweep at least.
Mork is the custodian.
When he is off the NVSOS, we will know something has progressed.
What I gather is that the company was re-domiciled to officially eliminate any debt.
That is to say, the June 11 filing was more about the company being re-domiciled back to Nevada.
Now, it is officially debt free. And Mork (custodian) has been given the control block of shares.
It's more about being a clean shell ready to be transferred than anything else at this point.
All we need is an interested party ....
Some digging has been done.
What happened is that the company was redomiciled to eliminate the debt and now the custodian holds their control block.
Roughly 21-22 Million shares are in the non-controlling parties hands at this time.
Of which, far fewer are free trading.
The custodian seems to be looking for a merger candidate.
To clarify, the company has no liabilities, the control block of shares have been obtained and are ready to be transferred.
All of this has taken some time, but it appears that should an interested party get in touch with the custodian, things are ready to proceed.
Strange times here.
Kind of in a flux, seems like no group has taken this under their wings like other custodian plays.
It's disappointing, but what can you do?
Perhaps they are lurking in the shadows, hoping to catch some overhang at low prices.
Perhaps this is just the summer time and things will pick up later on.
Hopefully all is well and we see some interest.
Still seems pretty clean and others have run pretty good this year.
This number includes the control block.
125 Million are held by the custodian as per information found online.
All of this was to be expected at some point.
There are no Liabilities at this time.
All of the shells are operate in the same manner.
You may find it disappointing, but it is expected.
Guess you sold out and now you are all about the truth.
Is that about right?
Looks like the person who bought over $0.06 bailed.
They popped it up more than 10% at open without news.
Don't need to wait that long.
The way I view Thursday's trading (and maybe the next couple weeks) is that it is more about the overhang of old investors balling out.
It is part of the process and is entirely healthy.
Seems like we are at a standstill for now.
To be expected.
Someone has had shares for quite some time and saw they were up 200% ....
Overhang can take a few days to shake out.
Same thing happens on the majority of these plays.
Given the low O/S, I am not sure how long we will stay down here though.
Someone was saying $1 gives us a par valuation given the O/S as some other Reverse Mergers running.
Yeah, so the potential is there.
Just need to see what will be coming in.
The O/S seems pretty small here compared with other recent Reverse mergers.
Never really know though.
Board seems to have become quiet ... wonder how many eyes are on it?
For reference purposes, RHE (Regional Health Properties) did something similar a couple of weeks ago.
I don't expect to be free in the morning, which is the main reason I dumped this before the close.
So, if you are holding, look to sell into some continuation move.
So glad I sold and rebought the spike up yesterday.
Otherwise I might have sold this morning.
If CANT (or whoever is the SHORT) starts covering, this thing will go crazy.
Looks like it might have been a technical bounce.
Then more people because of FOMO.
I bought $0.28s and sold $0.32s the same day.
Might see some continuation tomorrow, but if there is a lot of people stuck, they will start coming out.
Close to 15% for me in half a day.
Looking for the next one.
It's what Oracle wants ....
If Oracle was buying this .... why are we still below $0.03 ?
Probably because they are a service provider (ERP Software) and in the future will be a creditor.
They provide ERP software to many companies.
BioAmber is more than likely one.
Don't spread this kind of False information.
Bidders don't have to apply to receive court documents.
Come on guys.
Oracle makes ERP software.
I know most of you are used to dealing with companies based in fiction, but real companies utilize ERP software to track inventory and other things that actually exist.
If Oracle was interested in the assets and made an offer, they wouldn't need to petition to receive documents regarding the process from some judge. They would already be included.
The bidders do not have to come forward publicly.
People should calm down. If you can't sleep at night, you own too many shares. You should sell down to where you cann sleep.
The parade of those who sold begins.
What happened about $0.06 ?
It was up more than 50% earlier in the day.
Lots of people who bought below $0.01 bolted.
Always have a trading position that you add or take away with when it it pops.
The stock nearly jumped 50% at open.
Given that the stock was under $0.01 for a good amount of time, it was an easy stock to jump down on.
A few people have disappeared that were here under $0.01
Pretty easy to see that they got shook out.
I don't care if Clay is Evil. The same patterns happen all the time. Trade them.
It's actually less of a short problem and more the fact that more people day trade OTC stocks for a living.
ASCM core business is helping smaller companies that do ATM offerings.
It's not likely that they will go out of business any time soon.
They already covered.
Someone with a lot shares panicked when it dipped.
You can speculate who it was ... But it doesn't matter, they did it.
If you are lucky, they will post later trying to save us all.
Or use another account to do it. Yeah, it happens.
Pretty obvious the MMs would shake the tree when it looked to be gapping almost 50% at open.
That's why you Hold a core and trade the rest.
I suspect a lot do this, they just don't say it.
And now the CEO of McAffee is running this in his spare time.
Sure. Why not? Run a Billion Dollar company during the day and then in his spare time run a triple zero company.
Seems legit.
Nice pump.
McAffee has been talking about going public.
I am sure that a triple zero stock is the perfect vehicle for a Multi-Billion Dollar company to go public.
Pretty sure that's the dream of every CEO ....
To see their stock go from literally $0 so they can have options at $0.0001
LOL.
All the people who sold end of day Friday are being real quiet as the early Level II data shows a big gap.
This has to be a troll, right?
I mean ..... has no one done a little digging?
Sure this isn't $0.88 good.
But still a decent return from here.
Any discussion on the valuation of the NOLs?
That pwc report is tasty.
Fair market value on the plant of $70 million
Inventory $3.6 Million.
Cash $3.6 Million.
A/R of $2.3 Million.
This is $79.5 million.
This doesn't include any value on the NOLs.
Let's just put a value of $0 for now.
Given that total debt is roughly $60 million, this implies a fair value (to shareholders) of $19.5 million.
Given their is 129.5 million shares outstanding, this implies a value of $0.15 per share.
And this places a value of $0 on the NOLs.
Given that there is still a healthy asset, let's just say that the NOLs probably have a value higher than $0.
75% off the table when it's at $0.40 seems logical and reasonable with plenty of math to back it up.
Needs more lucky numbers.
Try $8,888.8888
When your broker says the price is to far off the recent price ... call in and tell them that you know they are short.
Record their reaction and then post online.
Win iHub for the day.
A lot of Chinese stocks have gone for a run recently.
25% gain is good either way.
But, still feel it could have been better if they PR's results.
My favorite strategy for big boards hasn't done the best this week.
At least with this doing nicely, the week doesn't look that bad.
HMNY has been a big POS. I feel like some people are too far underwater. Should have planned to take that 5 or 10% haircut. Instead they have a 50% one and think it;s just about ready to turn. It has to. HAHA ... yeah, that's just gambling.
Just an FYI.
2 Rumors being floated around:
1. IR Firm has been contracted by SBES
2. SBES may have a new drink linked to the MJ industry.
Neither has been confirmed at this point. Just letting people know what is circulating.
Seems like the overhang is gone?
Disappointed that no one confirmed this.
Keep it on watch for now.