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As long as they can keep taking massive convertible loans, sure they'll survive. Question is at what point will their lenders no longer think the shares are adequate collateral? When that happens, they're running so far in the red there's a solid chance of bankruptcy.
Aaaaaand we're back to why I wouldn't advise anyone to buy until $OMVS' revenues increase drastically (as in, substantially more revenues per quarter than new debt) or they reduce debt.
He promised us a 10Q last October/November too, along with "best day ever" news. At that rate, maybe you'll see fireworks in another 6 months. I wouldn't get your hopes up.
I think we may get a PR this week but I doubt we move much from that. They're still restructuring $MCTC at this point from shell to operations. Any indication of revenue starting I think there'll be substantial bump in pps. Anything that brings volume will boost this quickly considering the low float.
Ding, ding! You & I don't often agree (I'm a bit more bullish on $OMVS traditionally) but these Q's certainly didn't have any sort of what I'd consider to be great news, and a lot of red flags to boot.
I remember November well. I remember long before November. Around November we were still being promised the October Q was going to come "any day". There's a November-ish twitter message somewhere on here from SR to my account saying it would drop within that week.
I also remember hearing the debt wasn't toxic & they were working on paying it off as soon as possible back around July-August I think? Also that they weren't going to increase outstanding shares (hell, I was one of the ones championing that argument at the time).
I also remember hearing (and saying) "as soon as the robots are actively deployed the revenues will build exponentially!" How's that going (especially with those multiple robots that failed during the contract period)?
I (and any other savvy investor) can only go off the financials they've released. If you want to invest based on PR boasts I've got millions of old bags from various bets I'll cut you a great deal at $1 pps (hell, for you I'd do $.50 pps). The fins show $OMVS was loading TONS of debt at the time, even though investors were being led to believe otherwise. The fins show meager revenues, even though "BEST DAY EVER" tweets were flying.
I've been long on this for quite a while (feel free to check my post history), but the truth is $OMVS and SR's actions haven't reflected the best interests of the shareholders. SR's supposed "availability" via twitter is misleading at best & outright lies at the wors. If you're claiming they're not going to convert all that new debt, you're insane. $OMVS doesn't have the revenue to have any other option. They've loaded convertible debt at a 20:1 ratio to their revenue with terms that screw over current shareholders.
That convertible note list gets a hell of a lot longer every time I look at it. These guys are taking out constant and massive convertible loans (very favorable for the lenders) to stay afloat with revenues (and expected revenues) that don't come close to touching them. Even though the Q's are finally out, I wouldn't advise buying more $OMVS until either they have a solid plan to pay the loans without converting them or their revenues increase at least 10x (assuming future loan amounts stay similar to current ones).
Good news in these 10Q's: increasing revenue (not as fast as I'd hoped but I'll take any revenue increase over none). Bad news: your shares in 1 year's time are probably going to be worth 1/1000th of their current value if those loans get converted.
Some news would be nice. I think we're in a bit of a holding pattern at the moment.
Well that bodes well. Maybe McHenry is actually trying to do something here!
Morning all! Here's hoping for some volume today!
Agree on both counts! Hopefully now that the CE is removed volume starts to pick up. This flies on volume.
Maybe McHenry has been a mess in the past with other companies, but I can't fault anything he's done so far with $MCTC. He stated he'd get filings current and did. He stated there'd be a new direction for this shell & there is.
Fully agree that cryptocurrency is horribly watered down, and I doubt you'll find anyone here who has ever thought this is a long play. I do think there's a solid chance (give the low float, as you mentioned) this spikes again in the near future. I think that's why any of us here are holding. One day of solid volume pushes this to .10+.
$MCTC News Out & website has gone live. New CTO & blockchain/cryptocurrency direction for the company.
We get a volume spike & $MCTC flies. I think the company has taken good steps recently, give it time. I agree it would have been better if this news & the website going up had coincided with CE removal.
I just jumped there hoping to see all these wonderful items & they're not on. :( I was hoping for some dog grooming tips...
News
Well, it's not as much info as I'd like, but it is a step taking the company from a shell to something with value (hopefully). Also worth noting the suspicion of this information was enough to make the PPS do the huge jump a couple months back.
Thus far the new CEO has managed to carry through on each of his promises in a timely fashion. Hopefully this continues.
I'm a bit surprised really at how well $MCTC has held between the 2-4 cent range. Seems a lot of shareholders are waiting to see what happens. News makes this very volatile one way or the other.
Well stated, and I generally agree with your opinions.
Updates to OTC profile
Originally noted by Benosufan, re-posting so I can sticky it.
CE is still on as of today's date.
Now a verified profile.
Updated to "shell risk" (this should not be a surprise).
MCTC OTC Page
Interesting that OTC went from labeling the company as a shell, to removing the shell designation, to deciding now it's a "shell risk". I think the company has been pretty up front in all filings that it's a shell. Oh to be a fly on the wall at OTC to hear why they're unsure if it is...
I'm only seeing 3 mil left at 1 on the ask - is my L2 screwy? Otherwise looking like a good shot to hit 2's today!
I expect the same. Keep an eye on the website, I suspect it may go live (out of maintenance mode) whenever they intend to release news.
I bought a small starter as a lotto play. Regardless of why the volume is huge, this much volume plus #1 on BOB gives it a shot at a small run.
If you look at the trade data on OTC there's certainly much more accumulation at the ask price going on rather than dumping. Several 100-200 share sells have been happening to keep the price knocked down. Considering those sells are for less than $5 per transaction someone's trying to load cheap. Buys at ask prices have all been in the thousands.
OTC Markets MCTC Trade Data
It'd be nice to see some news today but honestly I'm thinking it's about a week out. I suspect this jumps off good news to the .06-.09 range.
Thank you cntryjo. I think the last time I'd looked because it was a shell that wasn't on there (or I'd missed it, very possible).
$MCTC no longer listed as a shell within the past week. CEO stated 3/5 news would be forthcoming about the company's new direction. Has filed all necessary filings since 2015 in the past couple months to be current.
Glad to have you back Cheds!
Agreed. I expected much more.
$MCTC no longer listed as a shell within past week. 3/5 CEO stated news about new direction would be forthcoming.
$MCTC dropped shell status within the past week. 3/5/18 the CEO stated news would be forthcoming about the company's new direction.
Aside from no longer being a shell, I'm seeing this now on OTC's profile data. Can anyone else confirm if I just missed it previously or if it's new?
SIC - Industry Classification
2836 - Biological products, except diagnostic
The volume is so minimal it could still swing. 950 shares is what, $20?
Check the old posts. CE was on before the pump. Also, post 235 you stated you were new to the board, and 250 you stated you were a DUTV holder. You later indicated you'd only come to MCTC because of the new CEO, and that you had a "token" position here.
I'm having difficulty believing you had a bunch of shares in an unknown penny shell unrelated to DUTV (until late in 2017) for years without ever checking the board on ihub until after a 1000%+ rise.
Picked up some 7's for a starter, we'll see where it goes.
I try every now & then! Wish MCTC had a corporate logo I could throw up there. Let me know if there's any other info you guys think is important to put up there.
CE has actually been on quite a bit longer than the "initial pump" a couple months ago, since prior to that pump there had been no filing or word from the company since 2015.
"there is a new vision for the company"
Fits with the sudden rush to become a current shell, and bodes nicely for those of us with lotto ticket shares here. I suspect they're waiting until the CE is removed to release news of exactly what direction they're going.
The auditor answers to $OMVS. If it's all the auditor's fault that the audit can't be done timely they should hire an auditor who can. No company this size that WAS ALREADY CURRENT should require 6+ months for a damn 10Q to be completed.
Someone just threw up a wall at .07 (230k is what shows on my L2).
Still moving up. L2 is still really thin beyond this.
Please explain how letting investors know when they can expect the company's filings to be current is insider information.
$MCTC filed final 10Q required to become current Friday after hours.
It's a shell that's worked very hard to suddenly become current over the past couple months. Should be an interesting week.