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I'd like to thank Nasdaq for doing the right thing by delisting this POS company and protecting investors from further losses. I know some wish Nasdaq would have done this a long time ago, but it was a due process, and now HMNY has met its fate.
Once delisting becomes official, my time on this board will be final. For me, this is a nice consolation prize.
Happy trading/investing.
Excellent post. It's nice to know that there are some wise and conscious people on this board.
I took the OS 1,650,000,000 (it's actually higher than this) and multiplied it by .05.
I'm pretty sure there are a lot of sell orders in on this POS "Good til canceled". Probably the whole OS is on the market books (L2, L3, Nasdaq Full Book, BATS/EDGE Full Book)
Who with an ounce of commonsense would trade this knowing that it's on the verge of being delisted which will instantly take this sub penny?
That's basic instinct...then he and his corrupt team will sit down and think about it and will opt for the OTC where they can make even more money by teaming with toxic financiers to ripoff even more retailers. The bulk of retail investors are into the OTC. The bulk of retailers are "get rich quick" minded. What better place to take advantage of such thinkers than the OTC.
If they don't appeal by the 26th, say bye bye. And there's no guarantee that Ted wants to file. He might just accept the fact that games over.
The suspense is like a movie...a movie about the death of Moviepass.
Pray it's not an exodus on Monday
LOL. A gap up or down usually means that someone bought or sold a HUGE amount of stock in extended hours.
For this to gap up .05 someone would have to drop at least $82,000,000 on this POS in the premarket. Happen. Not. Gonna.
What will happen is a delisting. Ted won't even file for an appeal. He knows his playtime on the Nasdaq is over. Time to hit the sandbox with the other wannabe companies on the pinks. Maybe someday Ted can work his way up to the OTCQB or the more stable OTCQX, but for now pink it is...and depending on what the NY AG finds, they might make their way to the greys.
Nasdaq gave HMNY plenty of time so they won't need 45 days to make a decision. The annual meeting will be a sideshow. The OTC already has the welcome mat ready. Toxic financiers are about to have a Merry Christmas and Happy New Year.
Ted would be smart just to go to the OTC and accept toxic financing. As one headline once read: "The Spectacular Rise and Fall of MoviePass"
Cause if I remember, Q3 had them at over $100 million is losses. That carries over. If a "*profit*" was made, it will be subtracted from the overall loses and applied to Q4.
*I use profit with a grain of salt
Don't forget annual sub cancellation refunds...that will offset some, if not all "lack of user" money.
What equity? LOL
Stock is their only source of money. LOL
They won't be showing a profit for a long time. They're in the red at least $100 million. The lack of sub usage will probably knock of a few hundred thousand from their losses.
Q4 (10K) numbers must be audited by an independent accountant.
Can't juice what you have no control over.
If things get worse, they'll be filing for bankruptcy thus wouldn't be obligated to pay anyone.
I think if AG finds wrongdoing, indictments will follow. Kind of like Enron.
Fraud (misleading info) is part of the lawsuit. That's criminal.
I think he's being advised to just settle for the OTC.
I think Nasdaq should charge a company $1 million to have an appeal hearing. Make these crooks pay for time wasting.
IMO, the AG probe is kind of conflicting. If the AG finds wrongdoing, the plaintiffs will use that against the company in their respective fraud lawsuits. If the AG finds no wrongdoing, HMNY's attorneys will use that as ammo to dismiss the fraud lawsuit.
Will be interesting as to what comes first. Suits settled or NY AG probe conclusion?
I'm sensing that you know your own rhetoric is falling on deaf ears.
"...the Staff’s determination is based on the low price of the Company’s common stock, the significant issuances of common stock over the past year from an Equity Distribution Agreement and the conversion of future priced securities (primarily Senior Secured Convertible Notes issued on November 7, 2017 and January 23, 2018), the Company’s stated need to issue additional shares to fund its operations, the failure of a prior reverse-stock split in July 2018 to result in compliance with Rule 5550(a)(2), and the Company’s inability to obtain approval for a proposed reverse stock split at a special meeting in November 2018."
Crooked Ted should be indicted for further fraud. Trying to get rid of convertibles to stay listed. Take your loss like the retailers you've ripped off over the past year and a half.
Crooked Ted has until the 26th to request an appeal!
He should just accept his fate and go to the OTC.
It's a lose lose situation. They will be delisted or there will be a reverse split in which shorts (the people they owe money to) will drive this POS to hell.
Within 45 days can mean 1 day, 2 days, etc. Nasdaq won't waste time with this embarrassing company.
I guarantee they'll decide long before 45 days.
Told you so! Only crooked Ted waited until afterhours!
"At or prior to the Hearing, the Company intends to present its plans to Nasdaq to regain compliance with Rule 5550(a)(2) and request an extension of time so that the Board of Directors of the Company (the “Board”) and management of the Company can effect a reverse stock split at a time that is in the best interests of the Company and its stockholders. The Company intends to continue to monitor its closing bid price for its common stock and will continue considering all available options to resolve the Company’s noncompliance with Rule 5550(a)(2)."
Delisting coming on the 28th. Company denied an additional 180 days. LMAO!
"...the Company’s common stock will be scheduled for delisting from The Nasdaq Capital Market and will be suspended at the opening of business on December 28, 2018..."
KARMA!!!
LOL. Ted put the 8k out afterhours.
If 23,000 acres is for real, 2019 will be greater than great. The biggest MJ company in Canada with a marketcap of $10 billion doesn't even have that type of land/sq ft.
Hope they update us on Hempistry soon.
GL
To my understanding, it's just an amendment to the previously filed 10K and it doesn't include any subsequent events. Nothing major, just fixing their errors. Appears they are trying to be on point cause major moves on surfacing.
Good call.
I'm in the green. Don't be mad if you lost and can't afford to buy anymore.
GL
EOM
So you believe what other people say...you're the fool.
Do your on DD and get off of Front's NUTS
Where?
When?
This board is dead. Averages 1 post per day.
Always good to see a stock performing well without being hyped. People are quietly doing their DD.
Pay close attention to the 26th.
They'll be here...
https://listingcenter.nasdaq.com/IssuersPendingSuspensionDelisting.aspx
EOM
Crook Ted is probably making secret deals with toxic financiers in anticipation of going to the OTCBB.
Once Nasdaq notifies a company of their deficiency, Nasdaq will wait 5 business days to publish the reason of the deficiency as well as the date they notified the company. So if HMNY was notified on the 18th of being noncompliant, that info will be published on the 26th. Which makes sense because the company has 7 regular days to make the announcement which would also be the 26th. If Ted fails to make the announcement, Nasdaq will halt trading.
Ted might try to hide the truth but Nasdaq won't.
https://listingcenter.nasdaq.com/noncompliantcompanylist.aspx
This POS company's days are numbered.
Don't be surprised by a reverse merger with Hempistry. Farm Billed signed, everything is legit now. Time to get the deals moving.
IMO, America just legalized hemp so I think a lot of people are moving their money to American MJ companies.
BAD NEWS COMING TOMORROW!!!