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Someone's trying to walk this down with very small asks, probably for loading purposes.
10 day chart is about as beautiful you can get for a penny stock.
Pretty thin through low 9's.
Actually this is pretty common in a reverse merger situation. Given that the former CEO was removed, the company has a product, at least $500k they've secured toward purchasing a second stream of revenue, and appear to have done this in order to go public I anticipate filings to get current in the near future.
If today is just like the last 2 Fridays I'll take it gladly.
$DKSC
I predict a gapper this morning to start, bounce up above .01. Mid-morning pullback likely but overall I think we end today between .012-.015.
Likely gapper in the AM. Thinking this may bounce to .012 at open. Strong volume tomorrow could cause a significant run.
A bunch of weak 10k sales trying to walk this back.
In for a starter at .0077. We'll see where this goes.
Steve lied, as he has for the past year. Anyone holding here is begging to lose what little money they may still have invested. This is on a downward spiral of R/S & dilution death.
In with a starter position today.
I think the divestment alone points to losing most of your investment. As we all have over the past year.
So glad I decided to dump my last 50k just before the R/S. I feel bad for everyone who got stuck believing any of SR's lies. Trust me, I was one who believed them for WAY too long...
On a related note, he has now blocked my twitter account.
DUMPSTER. FIRE.
That is all.
SR's taking a beating on twitter today, even from his loyal(ish) longs. Apparently he's claimed it's impossible for him to cancel the R/S.
By my math we're somewhere around a 99.3% drop in the share price in the past year. Reading SR's tweets, this is apparently completely our fault.
I label this chart (and company) "Dumpster Fire". If you throw money in there you shouldn't be surprised where it goes.
I can't believe they released a PR about two SCOT units today. For those keeping track, that's a whopping (heavy on the sarcasm here) $2500/month gross rental revenue (or, as the PR tries to put it, $60,000 over 4 years per SCOT unit).
To cover their outstanding debt alone, we'd need something in the range of 5000+ SCOT units rented out per year. 2 seems horribly insignificant, unless you're using it to show just how much of a failure investing in $OMVS has been.
You're not wrong with this level of company / the OTC for the most part. After the R/S, $OMVS has even indicated they can and are likely to issue a ton more shares (dilution). When the PPS runs down too far from that, they'll do another R/S, re-dilute. Wash, rinse repeat. They'll run the company on the $$ from shareholders with no return as long as people keep buying. When this gets down into trips, they'll break up the company, sell the patents & any remaining assets, and convertible debt holders will be paid.
The only way this won't happen is if they unexpectedly start to make a TON of revenue (enough to cover operating costs and pay off convertible debt, with profit). Even though SR indicated in a tweet yesterday or today that Q1 is supposed to show recurring revenue, I suspect it's not anywhere near enough.
Yes, Bots have been discontinued. Per the most recent filing, they were discontinued due to multiple failures, and the company no longer has revenue.
Someone should update the info above to remove all the lies we've been told over the past year...
And some of us should have listened!
If you're not out yet, you should be. SR & GP are nothing but liars and thieves. They will continue to do everything possible to screw shareholders out of their money. Compare their public statements & promises over the past 12 months to actual events & you'll see a pattern of over-promise without specifics, then pull the carpet out from under the shareholders. They're intentionally filing everything late so shareholders can't get a good picture of how much they're being screwed. You should only purchase or hold here if you like burning your money.
I can't be any more blunt than that.
Right, but they're convertible to a number of common stock based on the amount of issued/outstanding, not based on the monetary value.
Simple example:
1000 issued/outstanding commons times 3.45 multiplier = convertible into 3450 shares of common.
1,000,000 issued/outstanding times 3.45 multiplier = convertible into 3,450,000 shares of common.
So their value changes based on the number of issued/outstanding shares. Per the 14C:
"The main purpose of completing this Reverse Stock Split is to increase the amount of shares available in order to have the ability to issue shares and attract investors. The Company has not entered into any agreements whereby it has agreed to issue the newly available shares."
$OMVS intends to issue many more shares after the R/S, which will cause the Series E conversion to rise naturally (based on their outstanding shares calculation above), but won't do anything for my shares value aside from potentially tank them.
I don't necessarily believe you, but since I'm still holding, God I hope you're right...
Pardon my ignorance, but doesn't the below section show series F shares are convertible based on the number of issued & outstanding shares, and not based on a set monetary value?
"The holder may, at any time and from time to time convert all, but not less than all, of its shares of Series F convertible preferred stock into a number of fully paid and non-assessable shares of common stock determined by multiplying the number of issued and outstanding shares of common stock of the Registrant on the date of conversion by three and 45 100ths (3.45)."
So initially, at the onset of the R/S, common shares will be reduced by a factor of 100x (resulting in no value change to Series E or common) but if the company then issues more shares (which they've indicated is their main purpose for the R/S), the value of the series E will increase (while the commons will decrease)?
They've indicated their main intention of the R/S is to print more shares (per 14C)...
The main purpose of completing this Reverse Stock Split is to increase the amount of shares available in order to have the ability to issue shares and attract investors. The Company has not entered into any agreements whereby it has agreed to issue the newly available shares.
Post R/S, are preferred shares going to be worth 100x more?
Looking for educated opinions (read: someone smarter than me to tell me why this is right or wrong). I've gone back & forth on twitter with SR over this. He states preferred will not be worth more post R/S because commons are affected equally. When I press for more specifics he ignores further tweets.
His statement makes no sense to me whatsoever because the 14C clearly states preferred will not be affected by the R/S (only commons will be affected). I read this to mean that preferred will still be convertible for the same number of commons post-R/S as pre-R/S. If that's the case, preferred shares (namely SR's & GP's) will be worth 100x the value post R/S.
Thoughts? Paragraph in question is in page 4 of the 14C (bold emphasis mine):
"The Reverse Stock Split will affect all of our stockholders uniformly and will not affect any stockholder’s percentage ownership interests in the Company or proportionate voting power, except to the extent that the Reverse Stock Split results in any of our stockholders owning a fractional share. All stockholders holding a fractional share shall be issued an additional share. The principal effect of the Reverse Stock Split will be that the number of shares of Common Stock issued and outstanding will be reduced from 131,404,554 shares of Common Stock as of the Record Date to approximately 1,314,046 shares (depending on the number of fractional shares that are issued or cancelled). The Reverse Stock Split will not affect the shares of Series E Preferred Stock of which 4,350,000 are issued and outstanding and/or the shares of Series F Preferred Stock of which 3,450 are issued and outstanding and/or the shares of Series G Preferred Stock, of which no shares are issued and outstanding. The number of authorized shares of Common Stock and its par value will not be affected."
I got rid of my extra shares, didn't want them sitting in the portfolio forever. Didn't do too badly here but not as well as I'd have preferred. Still, green is better than red. GL to all who are holding for the long haul.
Generally I believe SR/GP have screwed shareholders here, and there's no evidence whatsoever to indicate they will not continue to do so when they have the ability at a far greater scale post R/S.
That said, the gambler in me keeps raising an eye at the chart & telling me it might be time to buy. Might throw a couple hundred bucks here in the next couple days just in case.
"in fact, they can dilute much quicker..."
bingo. Welcome to how GP runs companies.
Averaging down sometimes works. Other times it becomes known as "throwing good money after bad."
Considering $OMVS' lack of concern for shareholders to this point, coupled with their BOLD PRINT implication in the R/S notification that nothing restricts them from re-issuing the same shares they're eliminating after the R/S... I wouldn't hold my breath for an uptick.
Website is back to "under construction." Not really sure if that's a good or bad thing. I'm wondering if they were hoping to make a big splash with the last news & it didn't go over as well as they'd hoped, so they might be changing direction.
MCTC
We're in the business of $OMVS taking our money for their gain & then destroying the pps when it suits them.
$OMVS isn't moving anywhere but down until after the R/S, and I wouldn't bet on that trend changing at that time either. Great company that doesn't give a rip about shareholders at this time.
Slightly more volume today, but nothing major yet. It'd be nice to have an update from the company sometime in the next week or so.
That's an ugly chart, any way you look at it. And it's about to get a lot uglier.
At this point I like the structure & their successful push to be current, but yes it's basically a lotto ticket to see what happens.
Well that's a fun ugly looking chart. I suspect it gets uglier before it gets better. SR's "transparency" is looking pretty muddy these days...
On the plus side... hmm... the company isn't bankrupt (but if they keep borrowing like this without creating some sort of revenues they will be)...
Volume has been low for some time & continues to be low. Because of the low volume, price has fluctuated between about .02 & .04 for months. If you want to flip it, you might be able to on news (depending on news). If you're a long, you're still hoping for good news.
Considering it JUST changed from a shell I'm not sure what kind of news/movement you were expecting so quickly?
Well that's unsettling. Still, they just went from a shell to an operating company, and best as I can tell have 2 employees, who both have multiple other irons in the fire. Hopefully they're working on it?