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How can those shares be used as a carrot? A new 2 year restriction is nothing enticing when the noteholder can convert and keep the price at these levels.
Keep the CEO on after a change of control? Never heard of that one happening. Why?
More than likely, a new buyer would put this shell through a bankruptcy to eliminate the debt and current shareholders, R/S, and start all over for their own benefit.
I predict this one will also be back at $0.0001 before the end of the year.
My bet is ZERO. Dilution from the noteholder continues, even at these prices.
Transferring restricted shares restarts the holding period. The buyer would have to wait another 2 years before being able to sell them.
On top of that the SEC would restrict the total number of shares they could sell to only 1% every 90 days. If the buyer wanted to sell the shares they really would need to register them with the SEC first. Not a likely scenario.
Agreed! Should be $1+ stock, but it's now a ZERO stock.
Anything above $0.0001 is over-priced for this ticker. Look at the boatload of toxic debt they have with this conversion feature.
Forebearance funding? Can you provide a link to this news? By your own admission the CEO is broke and unable to keep the lights on. The noteholder crushed the share price, just like they've done with several other tickers I follow.
Other recent links suggest TGRR is closed and for sale as a shell. This seems more likely than anyone funding a ticker trading at almost ZERO with no assets or revenue.
The only way this stock ever sees 0.005 again is through a R/S or someone buys all of the outstanding debt.
Noteholders have proven they will convert and dump as low as 0.0002. There are not enough shares authorized to cover the debt owed at these levels.
Interesting. Can you send a link to where it is listed? I can honestly say I'm not surprised.
Maybe the noteholder took it over and is trying to get some easy cash?
Methinks you're right. Any minute now and she's done!
According to the last filing the company's bank accounts are in the red and no one is going to give him money with the stock price so low. If he's that broke you better hope he buys a winning lottery ticket to bail this thing out.
Looks pretty grim to me. The more I learn about the noteholder the more it all makes sense. There's a whole slew of other tickers also at this price with toxic notes by the same noteholder. They ALL go to ZERO. Disgusting!
IMTL now has a Stop Sign! Someone stick a fork in it. The party is over.
They also failed to mention they are going to be selling billions and billions of shares to their toxic noteholder for $0.0001/share, which will then be dumped at the bid.
It's just a matter of time before this thing reaches ZERO again???
Now TGRR has a Yield Sign. If they cannot file a simple report how are they going to get the share price up?
What good are 400 million shares if the stock is at ZERO?
If you see him try to register the shares, then you might be right. Not sure how familiar you are with Rule 144, but it is very difficult to sell restricted stock, especially for insiders.
Just looked up some of those old press releases you referenced. You are right, the one from 10/25/15 was aweful talking of billions of new shares and a delisting. Wow!
Maybe the same noteholder simply continued converting here. Do you know if the debts were transferred? It kinda looks that way, but I can't prove it either. I'm seeing the same toxic noteholders in a lot of these little companies drive them to ZERO for no reason.
I don't want to get reprimanded for unrelated tickers, but I'm seeing a thread with ZERO or near zero stock prices and debt held by GPL Ventures, which always converts at $0.0001 or lower for some reason.
Well, there is a run on hand sanitizer...
More bid whacking today... any predictions on when it goes to ZERO?
But they have the cure for COVID-19, right?
So you're saying they did do the Reg A? Shouldn't that show heavy dilution outside of note conversions?
Looks like there was a non-binding agreement for a capital infusion that never happened. Probably because the stock went into a freefall.
I think the only hope here is someone takes over the shell with some financial backing and gets an injunction against the noteholder. Then it might run a little.
6/30/19 Financials, $223 in the bank and $1.14 million in liabilities.
9/30/19 Finanacials, last one reported, ZERO assets, bank overdrawn, and $1.3 million in liabilities.
Think it got any better since then?
The Reg A looks like a total bust to me. ZERO cash raised. This company is bankrupt.
Who's going to turn the lights out here? She's done, someone stick a fork in it!
Worse yet, nearly $2 million in toxic notes that convert at $0.0001/share.
The only way to make money on this one is to short it! You know it will go to ZERO and reverse again.
Looks more like that noteholder made another conversion and dumped before this thing goes to ZERO.
TGRR failed to file their financials yesterday. Looks like the end may be near???
TGRR failed to file their financials yesterday. Looks like the end may be near???
Not with $1.2 million in notes that convert at $0.0001. That's 12 BILLION shares outstanding when they convert out of those notes.
Buyer beware! I got burned once on this ticker, not again!
Give it a month and those 2 shares will be worth less than a penny... THAT is the real crime.
It won't take long. Look at the notes to their Q3 financial statements. 30 different convertible notes ALL converting at $0.0001 OR LOWER.
No bid again two months after the "D" is removed from the ticker. Stay away from this convertible time bomb.
In case anyone is still interested, I spoke with an attorney friend and he informed me that based on Barnett's appeal docket the appeal was denied. The term he used was "per curiam affirmed", which meant the court agreed with the original verdict.
Bubba sure must be happy!
Maybe someone better versed in the criminal legal system can help. Has Adam's appeal been denied? I'm trying to figure this out, but it seems his attempts have been denied by the court.
http://onlinedocketsdca.flcourts.org/DCAResults/CaseDocket?Searchtype=Case+Number&Court=3&CaseYear=2017&CaseNumber=2465
I just looked at their last 10-Q (3-31-15), which showed $2.4 million in derivative (toxic note) liability, plus an extra $580k in new notes disclosed in "subsequent events" footnote.
Typically these things have a ratchet mechanism if the borrower goes into default, which obviously BLUU is. My guess is you're looking at $3-5 million in face value toxic notes on BLUU's books.
Bottom line this thing will never go anywhere. The toxic notes are just waiting for more volume to convert and dump into.
...or the SEC simply delists it for being a Zombie Ticker that is years out of compliance.
I believe Sonora was one of Adam's shell companies. It's a fake institution. Just a shell used to dump shares and evade taxes.
So Adam sold the shell to pay for his appeal??? A new yahoo to run a P&D... great!!!
Amen to that!
Round about way to get justice, but in the end Karma is a real bitch!
Hope everything else is going well for you as we close this ugly chapter in our lives!