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I don't see why unless any action was contended with reason? i.e. if he voted for a board and it was discovered he didn't have majority, it could end up in court.
It's a chicken and egg situation but is similar to an initial incorporation imo. The majority shareholding can vote to assign a board and their first action would be to record the meeting and then file their own election. As long as the shareholding is clear, it would not be questioned.
So, if Shapiro has majority, he holds the cards here. If he is distracted by the court case and the company is close to bankruptcy, this all signifies the end to me. I can't see him stepping back in and taking control with all of that hanging over him and I don't see why anyone here would see that as a good thing anyway. The only hope is that he finds someone respectable to take over the reins. We seemed to have that for a while but as we all now know, they left and wrote scathing remarks about the ability for the company to continue.
In the crazy world of OTC, I wouldn't be surprised if this still has some dead cat bounces but way too risky for me right now. If there has been a swift response to the last resignation, it might have still been worthwhile but not now imo.
And the board is voted by the shareholders and it sounds like Shapiro has the majority vote judging from the resignation letter
This is the problem with just adding up trades and calling it "dumping". For a start, there was only 2.5 mill sold today at 2s and 850k bought at 3s. I seriously doubt the 2.5 mill was dilution, no one would dilute $500 worth. It was a very slow day today, pure and simple.
What is your opinion on the fact that there was a minimum of 115 million on the bid at 2s and there was no dumping if you are maintaining that they are diluting at that level? Wouldn't they have diluted into it? Doesn't seem to make sense following your logic.
I'm with you there WM. I'm adding more on Monday, I'm waiting for another stock to get to the price I'm after.
GLTU 2! Hope it works out for you. I'll return if things take a turn for the better.
High Jinkx, I've always liked your positivity while I've been trading ITEN but these latest developments are pretty bad unless properly explained. If I was the real deal and just had a resignation letter like that dropped on my investors, I would be very quick to PR an explanation and resolution.
I agree, I never had any DD that he was jailed either but he was named in the case and I haven't heard that it has been dropped? Is he physically in jail? Probably not. He is probably going to have his day in court though.
If we were PR'd to say that the case was dropped against him and he came out with a plan to fix all of the issues, I'd be interested again. All I see though is a washed up CEO with a case pending and a company that was run by the ex-CFO for a while who clearly had a major disagreement with him and left before.
If Shapiro was in control all along, Diego would not have been brought back imo.
Lots of questions here and no answers as far as I can see
Funny how everyone turns on whoever leaves management. He was heavily implicated in the pump and dump scheme and I have not heard that he has been cleared.
The dumping is clearly because they have no money and toxic debt is kicking in, it's not the leaving management.
Are you talking about the same guy who was jailed? Do you not see that as a red flag? Him leaving was the main catalyst for this to go up. We need some answers about what just happened and why 2 key players left in a hurry. The latest resignation implied a lot of bad stuff about ITEN and it's potential to carry on.
That's an 8k about RMT and their numbers not the 10k?
Now way this is going up tomorrow imo, it's going down further first and then will hang around down there until the next fluff pr.
Sounds like the ingredients for an expensive night out.
When "they" becomes "we", it will breakthrough
Some of the best analysts work at Chucky Cheese
You should. :)
Dreaming of the day in 2014 when he could start developing a company called NSAV to make everyone a fortune.
I wasn't the one bringing it up. If you want to do DD properly and report the full story to the group, great!
I don't profess to be a GRAS expert, I'm just a trader like most of us
2 months is a lifetime on the OTC. I only care about the next 2 weeks
Why don't you go find out and report it back?
Lol. Glad to be of service!
Simple then, it was the name change. You just reenter the order and off you go.
VPOR is not closely tied to that decision to have that level of effect. There will barely be a dip.
If trades were canceled and it was due to an RS, it would be because it was happening tomorrow am, not soon. Either it happens tomorrow or this is bs.
It doesn't make sense. No one would pay $200k because the return is not enough to justify it. $20k or $30 would be believable
You don't think there should be a concern that they have changed their story and added $30k after the fact? I don't trust this promo company, $230k makes no sense and neither did $200k. You simply don't pay that much for a promo.
Maybe they'll add a disclaimer that $VAPO paid them the $90k to say that $VPOR paid them $230k eventually. :)
When I said no selling, I meant in the afternoon and of 2s. That was a good thing. If we see that again tomorrow, people will continue to chip away at the 3s and we'll steadily move up.
That is a real estate company, nothing to do with franchising so not sure why you are even bringing them up. Not related, non issue
52 mill cross trade at 3s! Now it can move. Not many 3s left
Coz the costs against the 10 mill were 15 mill? Who knows
This turned real bad real quick. Glad I jumped yesterday now. Looks like its heading all the way back to 9s. Might be worth buying some again down there for the next run
Yup. Slow today. At least no selling of 2s. Looking forward to tomorrow
Looks great but I'm traveling right now so can't watch the action. I'm only connecting every few hours today. Great timing!
Or maybe today? Who knows. One day. Lol
Absolutely no point in raising the AS right now unless they have something to announce.
Earlier than never and later than now. :)
You don't accurately know what is dilution and as i said in my post, the new AS does not engage yet so there was only 100 mill left
He means it now! Soon(ish)
They are still finishing their tasks for the AS increase, that is now complete. Now we can get the real news.
Today was interesting when you look back at the filings. The new AS does not kick in until around the 3rd week of November so if dilution was to occur right now, it can only be a maximum of 100 million.
Makes you wonder who is playing games right now. Easy to shake down a stock following that filing and prior to getting news. The only solution is news so i hope it comes soon.
I was just a minute too late to grab some 2s today. I don't like the dumpage that happened but I still think we get news and this runs and the quick buying and rebuilding of the bid at 2s would agree with that. Let's see what the rest of the week brings....