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SRUP time to start moving this up to pennies accumulation at its highest..
Agreed
Plus one for that excellent response to some of the FUD on this board.. I will agree i am one of the longs that has been able to grab some more cheapies down here..
C'mon folks, just do some DD of your own. You know, part of DD is understanding rules for issuers. There is absolutely nothing as absurd as a requirement to file a disclosure that a 3(a)(10) transaction has been completed. Just like there is NO requirement to file a disclosure that a toxic lender has started OR completed converting OR selling shares.
There are MANY requirements for disclosure to cover all of the possible ways that ISSUERS can SELL shares. NONE for disclosing that issuers or anyone else is DONE issuing or selling shares. For example, SEC-reporting issuers are required to file an 8K to disclose when they issue a convertible note - BECAUSE they are, in effect, issuing stock, should the note convert. Yes, the stock is not officially ISSUED at that time, but when the noted is funded (money actually chages hands), that is the time that the clock starts on the 6-month restriction for Rule 144 exempt shares being "issued". The point is to force these issuers to report to shareholders that the 6-month clock is starting to tick for shares that, if converted, though currently restricted, could become unrestricted and free-trading, should the note holder convert.
And NO, a holder of 3(a)(10) exempt shares of ONCI is NOT holding OR selling shares now. Quite simply, that's NOT how it works. They get a tranche of shares and sell them, and then they get another and sell them, and so on, until the net proceeds from sales of shares satisfies the debt that is being paid through the 3(a)(10) process. This process CANNOT be completed until the shares are actually sold and the balance on the 3(a)(10) settlement is paid in full. So IF there is any statement from the company that the 3(a)(10) is done... it is DONE - shares given to seller (NB), shares SOLD in the market, total proceeds from sale of stock = total settlement amount for the 3(a)(10) transaction... DONE, DONE, DONE - no more 3(a)(10) shares to sell... ZERO... ZIP... NADA. Easy enough to understand?!?
Any issuer MAY freely disclose, in an 8K, in a press release, or a tweet, that a 3(a)(10) transaction has been completed. There is NO requirement to do so.
SB indicated in the previous Shareholder Letter that the 3(a)(10) was 99.9% complete, and he estimated completion by "today or tomorrow". He then tweeted a few days later that "...the 3(a)(10) is done... and there is NOT another 3(a)(10)." Easy enough to understand?!?
I am most definitely NOT the only shareholder that understands this process. Undoubtedly, there are many who could have offered this clarification, if it suited their interests. The mere fact that no one has clarified this should tell anyone paying attention here that there are some number of traders who see it in their best interest to let the FUD (fear, uncertainty and doubt) persist. Gee... could it be that there are more than a few flippers out there? And quite likely, more than a few longs who are not too upset to have more shares at a discount price. But look at the volume, accumulation and share price. Should tell you something - like... just do your DD.
I don't really care a whole helluva a lot, I've been absorbing more than my fair share of stock again over the past week+. Maybe I'm just concerned about losing self-respect, bottom-feeding like this to my heart's content from these low-volume capitulators, feeding on this FUD - all while I read numerous posts from seemingly unknowing traders who actually give credence to these ridiculous ideas that "well, maybe there's something to this claim that there are 3(a)(10) shares still converting." It's pretty simple. Flippers love FUD. But then again, so do longs. As I've already admitted, I have benefited from it.
I just tapped it and added a few cheapies and it moved? As i type this Cant just undercut the ask lol
Nice to see you to I think we have a winner here!!
SRUP Break .006 and this is headed to multiple pennies
SRUP L2 looking good bids building ask thinning!! Gonna move fast with the low float!!
Yes Sir looking good huge run coming here to this low floater.
Big things going on here..
This should come as no surprise when dealing with a public company. That is a common boiler plate statement, especially in a filing.
PGUS
Jan continues to deliver and it sure looks like he is getting his ducks in a row for the big funding
ProGreen announces $10M secured financing plan
by ProGreen US | Dec 20, 2017
SAN DIEGO, Calif., Dec. 20, 2017 (GLOBE NEWSWIRE) — ProGreen US, Inc. (ProGreen), (OTCQB:PGUS), www.ProGreenUS.com, Twitter @ProGreenUS, www.CieloMarBaja.com.
ProGreen is pleased to communicate its plan for a secured financing based on the company’s substantial assets and recent business arrangements.
Qualifying Basis for Collateralized Financing
Procon Baja JV, ProGreen’s Mexican subsidiary, is the owner of, and holds the deeds to 5,000 acres of land with 4.5 miles of ocean front along the Pacific Coast in Baja California. The property constitutes the basis for a mortgage guarantee, for a 5-7 year loan financing of up to $10M.
We are in the planning stage of a large real estate development (www.CieloMarBaja.com) on this prime land.
We have an agreement in principle with a first class architectural engineering and building company, which will bring substantial resources into the planning phase of the project. This company will also be the lead contractor for the infrastructure deployment as well as for general construction. An agreement is presently being drafted and is expected to be executed this week.
We have recently signed an agreement to supply ProGreen Farms™ produce to Huy Fong Foods, one of the largest U.S. buyers of red chili peppers.
ProGreen Farms US, LLC, a wholly owned subsidiary to ProGreen based in San Diego, will control and invoice all sales under the agreement.
Use of Proceeds
Eliminate debt starting with convertible notes.
Fund further expansion of our agriculture operations at the Arenoso Farm in Baja California
Apply more funding to Cielo Mar, to accelerate the progress.
Fund Cielo Mar Reservations, LLC, for the marketing of Cielo Mar in Mexico, the U.S. and Europe – for pre-sales reservations of individual lots, as well as to property developers and hoteliers pre-launch of the development.
Provide additional working capital
“We anticipate to accept financing of up to $10M, and have already initiated discussions with one large lender,” says Jan Telander, CEO of ProGreen. “We believe gaining access to substantial capital at this time will provide a solid financial base for the company, creating the opportunity for a much faster expansion and laying the foundation for uplisting to a better exchange.”
Those that may be on the sidelines not buying at these undervalued prices in conjunction to some concern of the Tangiers note, after hearing we are acquiring an addition 2500 acres for farming to supply peppers to HUY Fong!!
Tangiers agreed to extended the note and provided more funding WOW.. Jan continues to impress me!!
Convertible Notes Issued & Tangiers Forbearance Agreement
The Company has issued the convertible notes for working capital funding purposes, and intends to secure conventional debt financing arrangements to pay off current short term debt and for development of our Cielo Mar project, although there is no assurance that we will be able to arrange this financing. Tangiers has provided financing for ProGreen over the past several years and has agreed to extend its outstanding note and to also provide a further funding to the Company of $100,000.
ProGreen Acquiring Additional 2,500 Acres In Baja California
“It’s a beautiful piece of land with enormous possibilities for our projects, and within walking distance of the Arenoso farm.” said Jan Telander, CEO of ProGreen. “The first use of the land will be for expansion of the farming operations, for which we expect more than 1,000 acres to be farmable, providing for substantial growth in the coming years.”
“Setting our goal to become the No. 1 supplier to Huy Fong, will no doubt demand very fast expansion to get ahead of the competition, but we do have the advantage of access to good land in a virgin farm area,” says Jan Telander, CEO of ProGreen.
8K Out Love the Transparency here. Jan continues to follow through on his plans and keep shareholders informed as it happens.
https://ih.advfn.com/p.php?pid=nmona&article=77369388
PGUS
Company still strong and continuing to grow... No worries here..
RXMD
Continuing to accumulate cheapies at these levels..
RJDG
With a quote this huge in it who could forget...
“Setting our goal to become the No. 1 supplier to Huy Fong, will no doubt demand very fast expansion to get ahead of the competition, but we do have the advantage of access to good land in a virgin farm area,” says Jan Telander, CEO of ProGreen.
Gonna be a great year!!
PGUS
New highs will be set in the very near future....
PGUS
Better to have them, knowing what we own and the way Jan delivers this will blow the lid off in a hurry..
PGUS
New tweet out...
Blog update and new farming operation pictures...
This is looking great.. Jan is the man..
Pgus
Very Nice News today Jan continues to build and Empire and I'm glad I get to be part of it!!
PGUS
Following the DD provides for cheap shares to be absorbed by long for the big picture....
Jan continues to deliver and longs continue to soak up the float..
PGUS
Still loading here as funds allow looking good for the long and short term...
Follow the DD
Very nice post!! Plus one for you!!
You said it Investors are loading here and longs continue to accumulate....
Ill bee right there with you adding with the dips at every level...
Waldo has always been a good friend...
ONCI
Well Stated...
REVS last Q beat all of '17
ASSETS ALONE nearly cover our MARKET CAP today.... (NOT INCLUDING INCOME OFCOURSE)
Looking good!!!
ONCI - Fresh Start DD
Downward pressure on the pps from the 3(a)(10) selling is all but over.
With the 3(a)(10) stock sales 99.9% completed on 3/15 (maybe now 100% complete after Friday), the O/S was increased by only 12.4% - AWESOME!
With only 12.4% added to the O/S from the 3(a)(10) transaction, the proportional reduction in the benchmark pps value of ONCI - the pre-3(a)(10) share price of ~0.014 in early October - gives a pps of 0.0124. PPS is now ~0.003. Correction to 0.0124 represents a gain of 313%.
So let's see, what was that? The O/S was increased by only 12.4%, but the pps was pushed down from ~0.0140 to ~0.003, which is a nearly 80% drop in price. There's a correction looking for a direction. Gee, where's Waldo when you need him. I know he could tell me which way the price will correct.
The correction to 0.0124 based on the benchmark price is just a starting point - it's the initial price correction. What has the company done since the 3(a)(10) selling began putting downward pressure on the pps?
Quite a bit, actually - but for starters, it reported about $1,725,000 revenue, as well as about $780,000 net income. Yes, NET INCOME - 42% operating margin!
What else has changed since the 3(a)(10) selling began putting downward pressure on the pps (AND moreso from traders flipping down and flipping the low channel)?
Balance sheet is much improved already and, with the proceeds shown in the 3/15/18 Quarterly Report just filed for PE 1/31/2018 (2018Q1), most of the debt will be wiped off;
The 3(a)(10) shares sales went very well, increasing the O/S by only 12.4%, and this will contribute toward paying off $600K of the debt, or more;
The $1,286,068 debt write-off is also a huge bonus;
Oh yes, the ticker change, Colorado domicile, and the various new business segments and entities… these are all icing and gravy that can add a whole lot more - NONE of them take ANYTHING away from the current business and the existing value here - what counts is revenue, growth and ultimate long-term profit / margins. Yes, when these changes are made, and momo traders see the "pps-moving catalyst" of a ticker symbol change - and they can pump the new acquisitions pending, etc… they'll come in droves to "play" the stock for a short run. Long-term, and for M&A activity, sure, having the ticker change and the Colorado domicile wrapped up will allow for even bigger and better things - but they do not stop SB & others from make the market for the existing business.
- Market Making is Steve's wheelhouse - not in the stock trading sense of the phrase, but in the BUSINESS DEVELOPMENT & PRODUCT DISTRIBUTION sense;
Many new dealer distribution deals have been announced since the 3(a)(10) selling started, including quite a few since the period ending 1/31/2018 for the report that was just filed;
Audited Financials - this is over-emphasized and overplayed, the latest trend in negative criticism for penny stocks when it serves a certain purpose (when unaudited reports are filed, some traders can be swayed away from buying, especially if there's a lot of talk about lies and deceit - from the CEO). This includes "soft" criticism - these are the ones loading heavy at the bottom.
- if you think the CEO may be fraudulent - and risking prison time - you should just run away now.
- if you're not comfortable with reading or analyzing income statements or balance sheets or cash flow statements… you're just gambling, anyway; otherwise, know that this is where the opportunity lies for out-sized gains.
- I'm very happy to see SB doing what he's doing and keeping as much focus as possible on launching the product(s), improving production/cost in tandem, and building the distribution as fast as possible… and improving/extending & customizing the product, as well. I have enough experience on my own to know that this is exactly what he should be doing - as top priority. I really don't give a crap about audited reports right now - that can come later. Why?
- Because: cost goes up substantially - in terms of $ AND management resources - when climbing each higher rung of reporting status: Pink, unaudited; Pink, audited; QB, audited (new listing, only recently made available); Pink, SEC reporting; Pink, audited, SEC reporting; QB, audited, SEC reporting
- I've bought and held - and made very good gains and $$ - with many stocks that were pink/unaudited, well into the pennies. One of them went over 0.25 recently (RXM$ - went over a nickel long before auditing fins). Yes, I prefer audited, SEC reporting. After that, I want them to uplist ultimately to the big boards. Lack of audited fins is NOT going to hold the stock down in the subs. Sure, for a short time it can be "used" while certain traders flip the channel and other traders and investors buy up the bottom prices.