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Well, I guess I'm as trustworthy as the next random person you'll meet on the internet. :)
Yeah, I'm pretty sure you gave a mid-November deadline anyways. Plus, the board needs as many people willing to participate in reasoned discussions as possible.
Yes, based on recent financial statements I believe that's exactly what they're doing. If you look at they're Q2 financial statements you'll see that YTD (6/30) the OS increased by 105.2 million shares, 80 million of which was debt conversion at $.0012 per share. However, during the same time Related Party Notes Payable increased by roughly $1 million.
If you look at the financials, BIEL hasn't sold any shares directly into the market for working capital since 2009. All of the dilution during 2010 and 2011 has been for either debt conversion or payment of services.
No, I don't think they are anywhere near cash flow positive. I believe you will see the increase in OS as well as increased debt on the balance sheet when the financials are filed.
I can almost assure you that a large portion, if not all, of the dilution that has occurred this quarter was due to debt coversion at a rate of $.0012/share, or $61,800 in debt paid off. It was then sold into the market at prices between $.005 to $.01 for a hefty profit.
They should be posting the Q3 financial statements sometime in the next two weeks, so you'll know for sure how much dilution was due to debt conversion between 6/1 and 9/30, but I think you're going to see very little of it was used to raise cash for the company, IMO.
Looks like BW might have shelled out some shares for a new pump campaign judging by the new traffic.
And do those statements come off as complete and accurate to you? No, of course not. The only money this company makes is by selling shares.
So that means they're going to release a PR apologizing for the pervious PR they put out bragging about their fake profits, right?
Why bother with a reverse split? None of their products are owned by BBDA. All they have to do is declare bankruptcy and close up shop. All of the products and any money that might be left over goes to the preferred shareholders, BW and Daisy.
Does that count as a "Nationwide Distributor?"
Thanks for making the call GB. So to recap:
OS as of:
10/12 = 1,786,781,871
10/19 = 1,802,281,871
10/26 = 1,820,281,871
That's an increase of 33.5 million in the last 14 days. Not a tidal wave of dilution, obviously, but if this slow trickle continues it's going to cause pain for BIEL longs, IMO. I also agree with you that it is much more likely the result of debt conversion than straight share selling.
Nothing like a little insider information to brighten up the board.
I've seen Drank, Purple Stuff, Vib, Slow Cow, and various other startup relaxation beverages in the DFW area. Never caught a glimpse of Koma though.
Are you trying to say that medical devices shouldn't fall under the FDA's jurisdiction? That Xray machines should be available to buy at your local drug store? While I understand your general frustration with the FDA approval process, and the government in general, what you're suggesting would result in heavy fines for BIEL management, if not jail time.
Those numbers are always out-of-date on OTC stocks. Call the TA if you want an accurate share structure.
certainly some interesting action to start the day.
Umm...yeah, aside from posting on some of the same boards and don't know either of those guys, nor am I involved in any lawsuits. I've seen their posts on the yahoo boards and followed the case progress, but I'm not involved in any way.
I haven't had a position in BIEL since November of 2009. I won't ever hold a position again due to my views of BIEL management. This is simply entertainment for me.
If there isn't movement on the FDA front before the end of the year then you'll probably be able to get them at half this price.
What are you rambling on about? The discussion is about beverage companies providing links to locations where you can purchase their products. You've been provided multiple links and yet you continue to post nonsense. If a drink company wants to promote sales and consumer awareness THEN IT IS THEIR RESPONSIBILITY to let the public know where they can purchase the product. The distributor is invisible to the consumer as they could care less about them. They care about two entities...the one who makes it and the one who sells it, period.
Bebida management cannot tell you where you can buy the product. That's the point under discussion, and the one you continue to ignore by throwing up red herrings.
Pretty much every small online review site is pay-for-coverage. That's why most people don't take them seriously.
Here's another:
http://www.drinkvib.com/where-to-buy.html
Honestly, I think it might be harder to find a small drink company that DOESN'T have a retail sales locator than one that does. It's pretty standard these days.
Did you somehow miss this post?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68243648
All of those sites have functional retail finders. Companies, especially small ones, want people to be able to find their products. They also know where they are sold, if they are sold.
Penny stock scams never have to go bk because they can almost always find somebody to give them money for nothing in return. When that runs out then they just reverse split, change the name and ticker symbol, and start the process all over again. It's the gift that keeps on giving.
No problem. Surprisingly both sides have been remarkably quiet lately. I haven't seen anything on the Yahoo boards or Joe's blog in a while.
If the test campaign went so well last summer then wouldn't they be using the same TV spots? Of course they would. The success of the previous campaign was exaggerated which is why it was cancelled and a new campaign initiated with a new marketing company.
Maybe in between fluffy press releases they can find the time to release the audited year-end financials?
Last I saw it had been remanded back to state court. That's the latest offical news I believe. Lawsuits take forever though, I doubt they'll even see the inside of a courtroom until sometime next year, if ever. Here's the link to the case information.
http://webaccess.sftc.org/Scripts/Magic94/mgrqispi94.dll?APPNAME=IJS&PRGNAME=ROA22&ARGUMENTS=-ACGC11507114
How about a pic of that fridge full of Koma?
You're not really comparing a 15 second product placement at the beginning of a music video that only appeared online to a full advertising campaign including spots during NFL games and the World Series are you?
Maybe you can point out where Griffin Beverages lists Koma as a product they distribute.
http://www.griffinbev.com/links.html
I certainly can't find it.
There are 4 or 5 jokers over there with multiple IDs that constantly spam their positive/negative opinions. At one point the yahoo board was somewhat useful for information, but it's pure trash now.
You're probably right in most situations, but in BIEL's case the company and the convertible note holders are one and the same. Yes, it's set up under the CEO's daughter's name, but does anybody have any doubt that it's Andy who finances IBEX and the other family run companies that hold convertible notes?
There may be some small portion being issues in exchange for services, but I'd be incredibly surprised if debt conversion wasn't by far the largest driver of the increased OS. It will be interesting to see if the big seller shows back up right before market close again today.
Touche!
Sure. Good luck.
You keep hearing what you want to hear in these statements. I didn't say anything about not doing research, I said that with non-reporting pinksheet companies the reasearch you do may or may not be of any use. And your Vegas analogy is apt because 90% of the time that's what you're doing when you're trading penny stocks.
Looks like the dilution faucet has been cranked to wide open again. Bombs away!
The point being made, and in general I agree, is that doing true due diligence on a non-reporting pinksheet company without audited financial statements and a history of not fulfilling promises is sketchy at best. You can call the CEO all you want, but what do you really expect to gain? He's not going to tell you to sell all of your stock. He also shouldn't be telling you anything overwhelmingly positive unless it's already been made public.
With pinksheet companies you can do all of the "due diligence" in the world, but still end up knowing almost nothing because the information may or may not be reliable.