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When they do the reverse split they plan to wipe out the existing shares, they'll go even higher....at first. Then they'll go lower.
BioAmber doesn't own a plant. It was sold in bankruptcy liquidation.
In fact, they don't own anything.
They do have $80M of debt they can't pay off.
Soon, they will cease to exist.
There is absolutely no reason whatsoever to put that in a disclosure if they haven't decided to do it. Wiping out existing shareholders is a typical piece of the shell cleansing process, why would any company want to take on a shell with 2/3's of its equity issued and outstanding? Those investors bought shares that were sold by the prior business of the shell, that money is gone and does not benefit the new company whatsoever. The other step to this is to get that toxic note sold into the float, then the shell will at least appear clean.
Page 2 of this document:
https://backend.otcmarkets.com/otcapi/company/financial-report/212632/content
There has been no stock split, stock dividend, recapitalization, merger, acquisition, spin-off or reorganization that occurred within the past 12 months however the Company anticipates a name/symbol change and reverse split of which the amount has not been determined. This action is still under review.
LOL
So, BioAmber's lawyers quitting indicates some mysterious deal is in the works for the empty, debt ridden shell?
With respect to the CCAA snippets, BioAmber entered CCAA hoping for restructuring/reorganization/refinancing/a buyout, but that all failed. Since then, the assets were all sold off, an undeniable fact. With no assets and $80M in debt, this company will cease to exist shortly, resulting in shareholders losing 100% of their investment.
Stock sale in progress, just read the annual report:
Go to OTCMarkets.com, look up this ticker.
Hit the "disclosure" link. You'll see 2 very recently filed financial reports, tossed together that show the business has been very dead. In the OTC, when somebody starts rattling off financial disclosures, somebody wants to sell stock.
Click on that Annual Report link:
https://backend.otcmarkets.com/otcapi/company/financial-report/212623/content
It's important to figure out in the OTC who wants to sell stock. In this case, there's 3B common shares Approved (A/S) and 1.97B of them issued and outstanding (O/S). However, according to the Security Details on OTC Markets, about half of those are not in the float (actively trading). Given the dormant business, it is very likely that any required holding period for those 1B shares has been satisfied. So there's the first 1B shares that can enter the float/be sold into the market.
Next, look for convertible debts (page 10), as those debt holders may have found someone to take over the company to help them sell their stock. This company has $450k of convertible debt, convertible at a price of $0.0005 per share, or 900M shares convertible on demand as the debts are very dated. So there's another 900M shares to be sold into the market.
Next, look for convertible preferred shares (pages 5 and 11), as the holders of those have often been the people "behind the curtain" converting and selling their holdings into the market during the pump. For this company, there are 10k Preferred A shares convertible at a rate of 100 to 1, or into 1B common shares. Those shares have been issued and outstanding for quite some time, dating back past 2014, so any regulatory holding period has been satisfied easily. The holders of those shares are not named, though it is likely they were former affiliates of the company from back before it went dormant. That's another 1B shares that can be sold into the market.
The convertible B shares were just issued, and while they are convertible at a ratio of 1000 to 1, it is likely they're being used as the "voting control" shares, held by an affiliate. Whoever holds those (likely the CEO) has 10B votes on any corporate decisions.
So, we have about 1B shares that are in the O/S but not in the float that can be sold into it, we have 900M shares that can come in from the convertible debt holders, and another 1B shares after conversion held by an anonymous holder of Preferred A shares. No doubt in my mind there's going to be a sale of a significant amount of stock. There's only 1B left in the A/S, so at least they won't be able to sell it all in without some sort of amendment.
You can bet that some magical business "over there" will be bolted onto this empty shell to be the catalyst for the share price holding in an acceptable window for that stock sale to occur. In this case, there's been a duplicate company set up in Delaware quite recently for one "over there" that can be merged into this empty shell. It isn't real, just constructed well enough (with copious numbers of PR's repetitiously plastered on the board) to sound plausible but impossible to verify on your own because, well, it's "over there." No thriving company merges themselves into an empty shell with 2/3's of the equity (stock) issued and outstanding, that would be stupid. The seller(s) will get plenty of money out of this, a billion shares at a tenth of a penny is still $1M, and they'll play hard for more. Then it'll go dead again.
Fact: Comparing companies with real sales, real revenue, real growth, to one that has never had sales, revenue, or growth is invalid, despite them being another "tech company."
VERB doesn't get to skip those 13 years that Smartsheet has under their belt where, as a private company until quite recently, they marketed their product and got real customers, sales, revenue, private investment. Then changed it all up after a few years to make it better, and grew far more rapidly for the next 7-8 years, then did an IPO and went public. Their revenue is large and growing faster than their costs, and while I might dispute their value vs performance since they've never been profitable, with 13 years of real sales numbers on a page, it is far easier to "project some potential." They do need to right that ship, or they'll fail or get gobbled up cheaply one day.
Contrast that to VERB, haven't sold a thing, yet there are some valuations in the billions being broadcast often, quite ridiculous considering they've sold nothing, and the expectation of some sort of run on NASDAQ just because it uplisted, and I've disputed that piece with real data from the companies who uplisted in the last 2 months of 2018, all but 1 has seen their price decline.
So, sorry, VERB doesn't get to leap over whatever their equivalent 13 years of growth will be and instantly be a $2B company. They have products to sell and have to prove people want and will buy them.
I provided a link to those filings, so, yes, I read them looking for the typical information used by these "companies." Quite a bit of stock on the ready to sell.
Go to OTCMarkets.com, look up this ticker. You'll see a Stop sign, Dark or defunct. That means the company has been dead for some time and not filing financial information. That should be enough for the inexperience you spoke of.
Hit the "disclosure" link. You'll see 2 very recently filed financial reports, tossed together to show the business has, indeed, been very dead. In the OTC, when somebody starts rattling off financial disclosures, somebody wants to sell stock.
Click on that Annual Report link:
https://backend.otcmarkets.com/otcapi/company/financial-report/212623/content
It's important to figure out in the OTC who wants to sell stock. In this case, there's 3B common shares Approved (A/S) and 1.97B of them issued and outstanding (O/S). However, according to the Security Details on OTC Markets, about half of those are not in the float (actively trading). Given the dormant business, it is very likely that any required holding period for those 1B shares has been satisfied. So there's the first 1B shares that can enter the float/be sold into the market.
Next, look for convertible debts (page 10), as those debt holders may have found someone to take over the company to help them sell their stock. This company has $450k of convertible debt, convertible at a price of $0.0005 per share, or 900M shares convertible on demand as the debts are very dated. So there's another 900M shares to be sold into the market.
Next, look for convertible preferred shares (pages 5 and 11), as the holders of those have often been the people "behind the curtain" converting and selling their holdings into the market during the pump. For this company, there are 10k Preferred A shares convertible at a rate of 100 to 1, or into 1B common shares. Those shares have been issued and outstanding for quite some time, dating back past 2014, so any regulatory holding period has been satisfied easily. The holders of those shares are not named, though it is likely they were former affiliates of the company from back before it went dormant. That's another 1B shares that can be sold into the market.
The convertible B shares were just issued, and while they are convertible at a ratio of 1000 to 1, it is likely they're being used as the "voting control" shares, held by an affiliate. Whoever holds those (likely the CEO) has 10B votes on any corporate decisions.
So, we have about 1B shares that are in the O/S but not in the float that can be sold into it, we have 900M shares that can come in from the convertible debt holders, and another 1B shares after conversion held by an anonymous holder of Preferred A shares. No doubt in my mind there's going to be a sale of a significant amount of stock. There's only 1B left in the A/S, so at least they won't be able to sell it all in without some sort of amendment.
You can bet that some magical business "over there" will be bolted onto this empty shell to be the catalyst for the share price holding in an acceptable window for that stock sale to occur. It won't be real, just constructed well enough (with copious numbers of PR's repetitiously plastered on the board) to sound plausible but impossible to verify on your own because, well, it's "over there." The seller(s) will get plenty of money out of this, a billion shares at a tenth of a penny is still $1M, and they'll play hard for more. Then it'll go dead again.
Ok, I paid attention, now its your turn:
It is simple supply and demand for shares once a catalyst fit for hyping shows up, be it news, rumors, or financial documents. Those shares are not part of the current supply when there is news for the market to react to and increase demand, so they have not impacted the PPS, nor will they impact it if they disappear.
Because those shares aren't being floated around in the market, they're parked. The price action you see today has nothing to do with "market cap" that people see, it is all reactionary to "news" and rumors and, occasionally, financial performance information.
VERB's future on NASDAQ after those investors do real due diligence.
The December graduates are here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=147180598
Since some saw that as "hand picked," I decided to continue through another month.
Here's the November graduates from the OTC:
APHA: OTC price $11.57 Current $10.48
AVCO: OTC price $2.70 Current $3.37 *
ROAN: OTC price $16.30 Current $7.85
CREX: OTC price $6.10 Current $2.42
Like the December graduate DTSS, AVCO has not been run to ground. There was a significant spike up to $12.55 in mid January, and the stock has been "settling" since. I see no catalysts for that sort of price action (the iHub message board was confused, as well). They've also filed a registration statement to sell more stock.
I "hand picked" nothing, those were the stocks, in order, that uplisted in December, as noted in the part that was snipped off. All of the December "graduates" are trading lower than their OTC price.
NASDAQ investors don't read message boards and fall for hype. They'll look thoroughly through those financial reports and at the price action of the stock. They'll look through the old ones, as well, maybe even read a few PR's from last year or even the years prior and compare "forward looking" predictions to performance.
Like it or not, those NASDAQ folks aren't going to fawn all over this stock or company once they do the real DD that they'll do.
While it was likely a scam, it wasn't necessarily a "moronic foreign company," but rather one of a string pulled off by the US owners, which was the Miramar group at the time. They have a reputation for it.
https://www.marketscreener.com/LANDSTAR-INC-90434/news/LANDSTAR-INC-Land-Star-Inc-LDSR-Targets-Merger-with-a-USA-Company-13267677/
It is likely the defendant will not appear to claim the shares, not sure the company was real in the first place and, even if it was, you can't find them on Google anywhere as a current company (not that it would be easy to find a Chinese company on Google). I expect Jason to win if he can demonstrate appropriate effort has been made to contact them. The shares aren't really trading in the market, so whether they exist or not won't impact the PPS.
NASDAQ investors will not ignore financial performance data, they'll expect VERB to perform. Financial performance history has been horrible for VERB and will not be overlooked. Those expecting a NASDAQ listing to be the cure for the PPS need to consider the most recent uplisters from 2018:
https://pubcoceo.com/2019/01/09/58-companies-uplist-from-the-otc-to-nasdaq-nyse-in-2018/
December graduates:
WRTC: OTC price on the day prior to uplist: $4.90 Current: $4.68
DMAC: OTC price: $5.85 Current: $3.55
ENOB: OTC price: $8.48 Current: $6.94
WTER: OTC price: $4.60 Current: #3.27
DTSS: OTC price: $17.00 Current: $3.27
OTC price was the last day traded in the OTC.
(note: DTSS was a RM that did an S-1, wanted to be uplisted, RS'd, then offered stock for $4 with an OTC PPS of $17. Volume was zero for a couple months prior to the offering being approved. I have not fully pulled the string on this to understand what went on.)
The company is diluting, selling a billion shares into the float. The O/S is currently just over 200M shares. That's a lot of dilution, nearly 5X the O/S. And the "fixed price" is below the current PPS. That isn't a setup for a "run," though I expect flippers to try and hype it into some sort of play.
Add to that the "product" hasn't the slightest chance of selling, it is an old scam with a computer hooked to it, so the proceeds from the stock sale are very likely to pay for a nice retirement of the 2-3 people employed by the company after they "try" to sell it.
No, you won't see similar results. Since Jason has "owned" the LDSR shell, that $125k note has been converting into shares, quarter by quarter, with $75k (or 1.5B shares) left to go.
Yes.
Sales of 1B shares @ $0.005 into an O/S of 200M will not result in a "run," that smacks against logic.
Used boat broker selling stock.
No, not really. It appears as though there's intent to become SEC reporting, but I'm not sure why. Isn't a bad thing if they do, of course, but doesn't appear to help, given the financial state of the company. I thought it might be hypish on "legitimacy," but it didn't work if that was it.
Sales revenue of the product is all that will make the stock go up in any significant way, and I'm talking about Classidocs. The acquired companies have some revenue, and they'd have to show profit and growth.
Yup, it's a licensing deal for VERB to use some of Getty's videos in their TAGG store. VERB is the customer. They may be getting a bulk deal to these prices:
https://www.gettyimages.com/plans-and-pricing
Sheesh, the rationalizations . . .
Or, we could just take the company's word for it:
The Company has not generated significant income to date. The Company is subject
to the risks and uncertainties associated with a business with no substantive revenue
I, JASON REMILLARD, certify that:
1. I have reviewed the accompanying unaudited interim condensed consolidated financial
statements and notes as of September 30, 2018 and December 31, 2017, and for the three and
nine months ended September 30, 2018 and 2017 for Landstar, Inc. (the “Financials”);
2. Based on my knowledge, the Financials present fairly, in all material respects, the financial
condition, results of operations, and cash flows of the issuer as of, and for, the periods
presented, in conformity with accounting principles generally accepted in the United States,
consistently applied;
3. Based on my knowledge, the Financials do not contain any untrue statement of a material fact,
or omit to state a material fact necessary to make the Financials not misleading with respect to
the period covered;
Dated: October 12, 2018
BY: /s/ JASON REMILLARD
TITLE: Chief Executive Officer; Chief Financial Officer
There is no way, none, for an accountant to not report real revenue, that would be fraud. Geez.
But when they report, they have to be truthful. The "they don't have to report" doesn't work with "under-reporting revenue to keep the PPS down." Kinda odd to see that rationalized as a good or even an OK thing.
I don't think so, either.
You guys know that back in the Miramar days Landstar "merged" with Chiguan, right? Wouldn't be surprising if, somewhere tucked into the documents of that alleged merger, there was a share exchange. Jason seems to be trying to put the burden of proof on them and probably is counting on them either no longer existing or not really caring about it, which is really the best play he has. But the judge may not make it easy on him to cancel shares that have been reported as outstanding for quite some time in the company financials.
http://averagejoespicks.blogspot.com/2008/12/land-star-inc-ldsr-completes.html?m=0
Please...they don't get to under report revenue to "keep the PPS down," that's fraud and will get the stock suspended. Not a happy ending. They haven't had any revenue until they "acquired" a company that did.
That's all well and good for a commercial for the stock, problem is this solution isn't selling, the competitions' solutions did. And, no matter how much anyone on the board "knows" about the software or in what industry they work, a shareholder isn't an objective customer, and those objective customers are giving their judgment on the product. It isn't selling. It's been for sale for awhile, all through the run-up to GDPR compliance, it was marketed and didn't sell any product. They did sell some stock for Blue Citi, though, so there's that.
Thanks, I'll give that a shot.
Looking for the PPS at the close for a stock where the CEO bought his private company from himself for shares of the new company at a value he established. I've found the purchased company's financials on OTC markets and just wonder what he bought it for (from himself, but I repeat myself).
Yeah, I did, nothing there that I can find. I'll try Janice's idea to see if the data is here.
Anybody have a good link to a site with historical PPS's of OTC stocks that have, of course, changed names, tickers, their business, and had other companies merge in? Looking for stock information from the 2014 time frame.
Yes, everyone should do math, especially the kind that leads a company with so much going for it, 881 new users per day, that chooses to sell themselves to another company for $25M. Seems mathematically unlikely or, worse, stupid, business wise.
And those 50+ "installs" and reviews are customers of the stock, not the product.
Sorry, Giphy was the company I was referring to as private, not the other one.
"10 years ahead of its time????" LOL. Interactive videos have been all over youtube for awhile, guess it was 15+ years ahead of its time then. The statement doesn't make it new tech, sorry.
The longest running product has been available to buy for 18 months. Nobody is buying it still.
They were mentioned because the company had mentioned they believed them to be invalid/cancelled. The suit will now determine that. With the shares "outstanding" but not being actively traded on the OTC, they cause no harm to the PPS. Imagine if this Chinese company goes through the books as a result of the lawsuit, finds the evidence the shares are, indeed, owned by them, and decides to dump them.
I always thought that company merging into this shell a decade or so ago was just another Miramar pump and probably not even real, figured the Chinese company was blissfully unaware they'd merged into a US penny stock. Guess we'll find out now.
That's easy, they pay themselves a comfortable living for however long $5M lasts. All they have to do is toss together a few of those worthless PAS boxes and "attempt" to sell them to people. "Failing" isn't illegal.
SMH
The "new" technology isn't new, interactive video has been out for some time. The 9 verticals aren't selling even though they've been available to buy. No matter what, I'll stick with the company that has the 100's of millions of users to monetize their platform. They're still a private company, btw, not trying to sell any stock to people on the streets.
Their "whole plan" is to sell as many shares as they can at $0.005. That's it.
Yes, "investment bankers" always flock to companies with no assets, cash, revenue streams, etc., and that were dead months prior, that are subsidiaries of OTC companies who sold nothing but stock last year in a pump and dump that is irrefutable, to hand over gobs of money.
Please...wanna know why nobody believes this year's pump? Because it is irrefutably not believable.
Happens all the time on the OTC.
And they didn't pay a red cent to Cycloides, so there's no "software."