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This company literally put a disclaimer in their form 10 saying that they do not think they will be able to keep up their business. There is toxic debt and convertibles off the wazoo in the form 10 as well trying to pay off the debt and they still are struggling with
That's means nothing
Lol past history is everything... You really think that a company will merge to pay off someone's 31m debt? Lol no way
Literally probably the worst financials I have ever seen. Heavy dilution is on the way to help convert the 31m this company has lost over the years from being a terrible company lol
What you have is a company that is 31m in deficit and only 300k in account receivables and no inventory. A net loss of 935k. "These factors raise substantial doubt about our ability to continue as a going concern." Word for word in the form 10.... Yeah they are doing real well lol
And you you they are from Rontan how? I hear a lot of talk and no one walking the walk...
Lol of course I know what a reverse merger is. What is a bunch of bs is doing it with an American penny stock. If they actually were trying to merge, they would do it with a company of higher standards...
Except everything you just said...
Word. I can tell you that it wasn't anything special. Just your average little rented office space. I can tell your one of the more objective thinkers here so I wish you the best with your trades
People actually believe that a multimillion dollar private company decided to merge with an American penny stock? This whole thing is such an obvious pump and dump
dripping springs is still around an hour away from the arboretum. If you wish to confirm please do
By the time this company is profitable, the share price will be a fraction of what it is today. I'm not saying don't invest, just know that after dilution has halted (saying they stop taking loans in return for convertible notes), the entry point will be a whole lot better than holding through the bleeding. The company has chosen to pay the debt at shareholders expense after all
Yes but they also have 1,266,666 in convertible notes and 200k in interest. The cash isn't a problem, but the dilution will
When taking into account future growth, that thought process can be seen as logical. However, in a sense of now based off the financials. 2.4m in revenue compared to 2.9m in operation cost means they lost 500k for the quarter. Unless they wish to pay back the loan with actually revenue ( which would put them down 1.9m for the Q) they will have to agree on trade in convertible notes. These notes are given at par value, or .00001. In other words, that is a massive dilution block in which they will want to get rid of. Obviously there has to be buyers otherwise slow Dilution will sink the price lower until the sellers are content. I don't mean to ruin your future hope, just telling you what has to happen. There will be more shares available at cheaper prices if you truly believe in the company
Remember that loans are a form of revenue as well as any convertible notes that are processed during the period. It's called toxic for a reason, it still has to be paid off
Not the case. MMs get money per transactions. The only price that matters to them is the one that people will make buys at
Something that you can see unravel as it happens... However as its happening now, MYEC is a sham promising great things but is only diluting the SS to pay off some of their loans
Actually there is only two reason. 1. Normal trading has occurred and someone has just happened to buy some shares available at what is coincidently the opening price or 2. The shares are indeed dilutive being bought and the price won't rise because the sells are matching the buying pressure. Personally I think it's 1 but 2 is always a possibility, especially with the convertible notes that will have to be used to pay off the toxic loans and since they loanees won't want to lower the price since that's taking money out of their pockets
Mr. Fife has to get paid somehow
What 3 day settling period? Are you referring to funds clearing? If so, just do as I do and keep funds on standby. Problem solved
True but longs often take the "hold for dollars" approach. Most of them never sell and just keep adding to their positions. If your trading along the way, then yes that's fine, but bag holding is a good way to tank your account. You won't miss the pump as long as your watching.
Lol why would that matter at all? You bought their shares right? That's all the truth you need
I made my way to the offices the other day just because it's walking distance away. It seems like they are having a lot of fun taking y'all's money
Take into note that with these toxic loans, companies love to exchange shares for their debt. They can manipulate a stock price to get more bang for their buck. Once they dump their shares and the SS has been diluted, down she goes. This company has 1.2 million in debt to pay off so keep an eye out
The problem with your thought is you don't have to get in before... You can be smart, which is something that you bag holders don't seem to understand. Be objective with you analysis but that the same time, who told you that you have to hold? There is always buying in whenever you see that what Ed stated actually came true and guess what... You limited your risk side. In the mean time, as long as what Ed says remains up in air, fundamentals are the only thing that matters. This is money your playing with, it's not a battle between long and short positions... It's a battle between your own course of actions
Revenue 3.6m, operation costs 2.9 million. Of that 3.6m, 1.2m taken in loans leaves 2.4m revenue and a -500k for the period. In addition, they still have to pay off the 1.2m + the 200k interest leaving a 1.9m deficit. It's all in the form 10
I don't know and it's not my position to tell you how to trade
No it doesn't. They took out 1.2 million in loans. That means that 1.2 million of that revenue is exactly that... Money from loans
I take it your a long here. That being said, if your ok with them diluting your share value in hopes that it will one day help them stay afloat then by all means
The only way cost of operation decreasing is a good thing is if they are becoming for efficient. In addition, revenue increasing isn't by anything means a "bad thing", however, it's more the means of where the revenue came from. Revenue can easily be painted in the books since it consists of any form money generated including loans and issued shares. The only thing that truly matters Q after Q is did the company operate profitable. If not, they will need a way to get money to pay back the loans otherwise the interest will eat them alive
Don't get speculative. People like me have nothing to do with "buying shares for cheaper" or what ever you people who buy on bashing believe. Bottom line is this company is crap and is on their way to bankruptcy. Only way to make money here is to flip the pump and dump. Longs will be burnt by the company's convertible notes
Yes and no. Sure you would want to to sell into a run but the bottom line is you don't want them to sell at all. For a long position, that just means there is more shares out there to % the value of your portion by
Most people don't understand that issued shared and loans are also a form of revenue. Revenue basically means jack squat. Have to look at cash flow and cost of operation
It can be at any point in the next 3 months but I would agree, no point in converting notes in a low period. Either way, 1.2 million in loans has to be paid off somehow. Since the company is lost 600k this last Q, there is only two options to pay it off. Either take out more toxic loans or issue shares to generate revenue at shareholders expense
Convertible notes equating to 1.2 million with an interest of 200k in addition to a total deficit of 9.5 million. Revenue is negative after subtracting the loans and operating costs. This company is committing financial suicide. It's not the MMs screwing this stock dummies... It's the company's convertible notes in attempt to pay off the accumulated debt. 77m shares still to be diluted. Good luck and stay away
To be fair, I do wish the best for all investors here and I want to see them all have great success with this company because the technology is premature and the market is shifting. However the amount of misguidance hindering new investors of the truth being the business practices is unethical. It's unfortunate that people decide to believe the ridiculous conjuncture and speculation rather then the facts out before them simply because the connotation is positive rather than negative. I wish people would just put emotions aside and look at the facts as they are. This doesn't mean you can't gamble on the future, it just changed the odds of the stakes...
Actually you can. It's in the 8k rather than 10-Q. He goes by the name John M. Fife of Red Cliffs investments Co. He's a nasty one, that mr. Grinch
Technically speaking, issued shares and loans are a form of revenue and can be used to paint the numbers. That's why you have to read the cash flow lol
Buyer beware. 321 million previously diluted with another 321 waiting to dilute at a par value of .0001 and diminishing assets respectfully of 282k leaving a stockholder deficit of 795k. Barrel production diminished 25% from last Q to a whooping 16 BOPD. In addition 121k was payed out to employees and a rent of 15k per month is adding to their nearly 10 million deficit. As a resident of the great hills area, I know exactly where this office is and I can attest first hand to the price of the area. For a company doing this poorly and producing so little, it is just a matter of time before they dilute to toxicity and file for bankruptcy. Be smart and do not invest in a company this poor