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MAXM sold his last 5 million at 0.0005 yesterday and is gone, ALPS has barely anything left. It will be trading above a penny this summer. I am holding on to my shares.
Excellent news is out!!!!! Someone knew something yesterday scooping all the cheap shares. Train is leaving for 00's! More credibility for the company! We are growing and gaining respect on the market! <*Rune NYC Receives $1.5 million Revolving Factoring Line of Credit.
*Red Wire Group Has $50k Bank Line of Credit
*12 ReTech to Receive up to $500,000 With Institutional PIPE Transaction
12 ReTech Corporation (OTC: RETC) announced today that it has evolved to the point where the Company and its subsidiaries now have access to more traditional financing than the convertible debt instruments that it has relied on previously.
With the acquisition of Red Wire Group, the Company now has access to a $50,000 traditional secured revolving bank-line of credit (RLOC) with Red Wire Group's local Utah based bank. This credit line functions as an overdraft tied to Red Wire's checking account and has an annual interest rate of Prime plus 2.5%
Rune NYC, LLC has just executed a $1.5 million dollars revolving factoring credit line with Florida based Capital Funding Solutions ("CFS"). Factoring is a standard form of financing in the Fashion Industry and the amount offered is indicative of the faith that CFS has in the growth of Rune NYC, 12 ReTech's newest subsidiary.
12 ReTech itself has executed a PIPE (Private Investment in a Public Entity) funding agreement with an institutional and accredited investor whereby the investor will provide funding to the Company with up to $500,000 by purchasing preferred shares that are convertible at a later date into common shares in a no discount to the market formula (see Form 8-K dated March 20, 2019). The Company has already drawn down $115,000 under this arrangement.
Angelo Ponzetta the Company's CEO commented, "We are very pleased with the progress our Company is making on many fronts. With our recent acquisitions we are now generating significant revenues and the traditional finance industry is beginning to recognize our improved footing."
Emily Santamore, manager of Rune NYC stated, "Working with the team at 12 ReTech has been awesome. The factoring credit line with CFS really allows us to "put the pedal to the metal" as far as growth is concerned. Combined with the cost savings that we receive through Red Wire Group's manufacturing operations, we are able to do business with many additional retail customers as we are now able to deliver against their purchase orders in a timely fashion."
Greg Porter, a principal of CFS said, "We really took the time to underwrite Rune NYC to understand where we could help Rune achieve its goals. We found the management team at both Rune and 12 ReTech to be very transparent and easy to work with. We are looking forward to a long-term relationship with both teams."
Mr. Ponzetta concluded, "These new funding arrangements will allow our subsidiaries to grow and will reduce management's reliance on convertible note financing to fund our technology and public entity expenses in the foreseeable future. This should over time reduce the ongoing effect of the dilution we have experienced and going forward, we hope to begin building shareholder value. We are continuing to pursue the completion of our Form S-1 to register shares for our $12 million Equity Line of Credit which is our long-term financing solution."
We will be leaving 000's soon enough. An excellent day with lots of positive movement!
I agree. " woulda, coulda, shoulda" - coming soon.
It is time to leave 000's territory for good!
Sooner or later it will be a blockbuster yet again. I can wait.
Obviously, it still generates interest.
The company will not be able to sell anything at all, they need to generate interest. A spike should be coming, but with any upside - I am selling. It seems, RETC is picking up every single company's debt they are acquiring.
There was update last Monday. No reason to update if nothing took place.
GGII also is a sponsor but i do not see them listed. I really care less for this BS conferences, lots of times they do not produce any results but just tossing money into the wind. I remember times when BLTA tossed money into sponsoring airshow and look at them now...
Illegal to state who paid fees and who did not. Of course, it is legal to learn who is a participant or sponsor.
They do not disclose that type of information - it is illegal to even consider it! The person just tried to bring the price down to load NNRX for cheap.
The company stated that they were confident that investors will see it differently as soon they close deals, that is why they are keeping financials in order as they are planning to relist with OTCQB again.
Someone right now is trying to force price down, meaning one thing - it will finally move up north.
From experience with these makers.
MAXM usually carries at least 100 million to sell.
So, we have MAXM now at 0.0006, then ALPS, CANT and CFGN all competing with each other. Wait, 0.0005's will get filled.
If it is Canada - it is perfectly fine. Heading towards One World Government , so one law for all... pretty soon.
One day watchers and sellers are going to wake up and be upset for not scooping up everything at these prices!
No, just in general - as everyone else.
No ground for that! Once again - mergers do fall apart all the time. That is why one should invest only when it is completed and financial statements are filed with SEC to prove it. It has legs and it will surprise us again.
Market Cap 399.4K - is just silly!
I think, everyone should put their bid at .0001 and see what happens.
Yes, I did. And it is a bargain!
They are available to anyone who wants them.
Exaggerating a bit , no?!?
We will be lucky to see 0.001 again!
I see a light at the end of a tunnel. We just might see a penny land here yet again.
0.0006 will be filled today, as sellers ALPS and OTCX on the ask, no reason to buy 0.0007's at this point.
We heard it in the last newsletter. I do not like any useless announcements, I like this company, too bad merger is a no go, but more on the horizon. We did not get current with OTC for nothing! I am adding to my position with each drop in price- when it moves I do not want to be left on sidelines ( upside is tremendous).
There is enough interest generated, I do not think it is even on entertaining list.
I will take some more!
It involves Reverse split and it is never shareholder friendly!
That is what I thought, no relation. Someone just tried to bring a price down to buy it. It seems, that company is trying to prosper - it might be a long road ahead, but I can wait.
There is a rumor that PLPL and TXTM somehow is linked to GGII, but personally, I do not see any connection. Do you? If anything, we should see an upside in near future.
not sure about CANT.
...that is why we see 0.0005's now... better turn around soon!
Looks hot...But I need more! I want a farm!
Looks good, you are probable right about hitting a penny.
Absolutely love the bargain being offered!