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That makes logical sense to me also. Should be doable if making a profit. You'd think he would want to do it since he makes money from selling shares like the rest of us. If for some reason it's too late to do this because this note is already issued, then buy some shares to show your belief in the company's future.
Unfortunately, toxic financing does this to a stock; super low price then the looming fear of the reverse split. This one is different in that the financing, though toxic, may have helped kick start a successful company. It is supposedly making money, and even after all shares are issued the share count still won't be exceedingly high, so a R/S doesn't seem warranted.
If INTV really is making the money that Scotttrader80 was stating then it would go a long way to alleviate the shareholder's fears if the CEO buys some of his own shares back and files a form 4. This will prove that he believes in his own company. After all, the price is super cheap so he should make a fortune from those shares when he builds his empire.
The next quarterly may tell the future of this company. We'll know how many shares have been issued and if the company is profitable.
It seems you and your friend(s) feel that even with whatever shares are left to sell by the diluters, that the price is near its bottom. The selling seems to go unabated up to this point.
I guess it comes down to who is willing to buy up those shares, and if the ones selling have a minimum price they are not willing to sell below.
Thanks for the informative reply. Yes, just now seeing all the tweets. Looks there is a light at the of the tunnel. That next Quarterly will be important. I guess it comes down to who wants to take a chance on picking up some cheap shares here. We'll see what it looks like in a few weeks.
'Scotttrader80 you said you bought some a few days ago so you must have thought the selling was nearly over as I did. The detractors were at least partially correct about the price and shares yet to sell; very disappointing.
I do appreciate the facts you bring to the board, so what's your overall assessment here now? I've seen this toxic borrowing before and it usually spells the end of one's investment of a stock. But this normally applies to companies that have no real business so the sellers will sell at any price. This one is different in that it is (supposedly) making money now, so I do wonder if there is a threshold price they are willing to sell.
The tweet by the CEO was cryptic but at least he is updating the shareholders, where most penny stock CEOs would disappear at this point. If this is the last of the shares and the company is making money now it would be a great vote of confidence if the CEO were to buy shares and show it on a form 4.
Hard to say where it goes from this point. I think it all depends on how many more shares to sell and who is now willing to buy on the cheap. I hope this does turn out well for those who really loaded up during the constant downturn.
Everything you say could be true. If the selling continues unabated because of constant dilution then I'll stop wasting my time here.
I said I'm looking at this at face value. The shares issued to date have been know for many months. Several months back somebody estimated the time frame and total share amount and (so far) pretty much nailed it. What was not know was how badly the share price would get hit. We also don't know how many shares the diluter(s) still have. Another unknown is the profitability of the company, and we won't know that until the next Quarterly comes out. Also, some say it's the CEO dumping shares into the market. If so, why wouldn't he pump it first then sell?
All speculation on my part and I could be wrong. Or I could be correct but my timing is way off.
Time will tell.
Taking everything at face value: the total shares issued, all the selling this past year, the latest tweet from the CEO that they are almost out, and that there could be news soon. Then the selling may be nearing an end. But as I stated before the buyers are exhausted. This needs a catalyst. Either a big buyer which gets the attention of new investors, or some positive news to create a similar event.
Now that I"m following this more closely, I do understand the frustration of the constant selling and downward pressure, it seems never ending. But there is an end to it, you just don't know when. Maybe some news next week will change the direction of the stock.
Base on total shares issued and the CEO's tweet, this could be the week it hits bottom. What we saw today could have been it, but as I said before, there's no way to know the exact bottom, you just average in when you think it's close.
Of course we won't know for sure until it reverses and we look back and say "that was the bottom".
41.9 million now, so I'm assuming that's it, but I have no idea how many shares the diluters are still holding. Perhaps they sell as soon as it's issued to them. The CEO does indicate via twitter that they are almost out.
A question on Twitter:
"Is there even going to be a break between both St George dilution batches?"
The answer:
"Diff seller. Almost out. Read fins."
We'll see if those lucky enough to buy this week are buying at the true bottom.
Good call, that's where the bid sits now.
Looks like the buyers are exhausted. I think most of the same investors have been "buying the dips" for the past year so they are out of funds or are simply hesitant because of the constant dipping. Still waiting for a bottom.
Supposedly INTV is profitable with Bitcoin above $4500. If that's the case, and if bitcoin is sitting at near it's eventual bottom then INTV should be golden for the next several years. The CEO has been buying and upgrading so I can only assume he is making a profit. It certainly seems that, as an investment, INTV is a no-brainer at this point. It's just a matter of soaking up whatever shares are remaining from the dilution.
I would like to know if the CEO is pursuing any hosting agreements. I would think that could put a lot of extra cash into the bottom line.
Scotttrader80 claims the CEO is building an empire; I can definitely see this happening. The question is if he will take the shareholders along for the ride or not. If he issues more shares, then it's an empire for only him; if he doesn't issue any more shares in the near term then we may all get to share in the success.
It's impossible to call the bottom so accumulate when you think it's close. As Scotttrader80 pointed out, it looks like someone was doing that last Friday. If you're lucky you can start buying just before the diluters are finished because that's when you can pick up a lot of shares without moving the price.
Looking at the CEOs twitter, it looks like there could be some updates coming soon. After being quiet for a while perhaps that will signal a turnaround in the stock. It makes since if we are indeed almost finished with the dilution.
Next week will be interesting.
I think shares issued were mostly to pay off debt during the bear market which ultimately killed the price.
The current situation now is:
1. No debt.
2. Mining is profitable with Bitcoin above $4500 so they should be cash flow positive now.
3. Integrated Ventures can now offer long-term contracts for hosting services on monthly or revenue share basis (In theory the power plant can power 78,000 rigs).
The consensus now is that most, if not all the shares have been issued, and that most of that is already in the market (hence the low price). So with the company now 'theoretically' cash flow positive the price could turn around soon.
A lot of speculation of course.
Yes, it updated last Friday. As we discussed earlier, it's either coming close to the end of the dilution or, as today's action may have indicated, it is finally over.
Impossible to say really, which is why I think buyers are starting to average in now. We'll see what the next few days/weeks bring.
I think you mean the 10-Q (Quarterly) which I believe is due November 12th (please correct me anyone). Hopefully that quarterly shows positive cash flow.
The current construction at the facility seems to indicate that Integrated Ventures, or PetaWatt Properties, or both are very positive about the future.
In theory, even if Bitcoin never budged from it's current price INTV should still do well (assuming they are profitable now). So it appears that INTV is now set for the future.
If the dilution is truly nearing an end then the wild card here would be a hosting agreement announcement. That could kick start a turnaround in the price.
Probably because this person
estimate amounts
estimated that the total could reach 41.4 million by mid October. But the amount and date are both just estimates. I think the outstanding was something like 39 million last week (if I remember correctly), so he is guessing another 2 million will be dumped. But I just looked and now there's 41.9 million out.....so maybe it's about done? It might be a guessing game now.
Agree KULiquidGold, which is why I think the turnaround could be near. I only stated that IF more shares are issued then perhaps things are not what was presented to the shareholders. But so far the CEO has done what he says he's going to do, so unless I see something different, my assumption is that the company is now cash flow positive and the dilution is nearing an end.
That doesn't mean it can't go lower. The diluters could still have plenty of shares and there still needs to be buyers.The problem with waiting is that it could turn on a dime before you have a chance buy in low. Nobody can call the bottom so you just have to start averaging in.
When it does turn there's probably going to be plenty who are holding because they're in at a higher price. Also, when you think about it; if the diluters are gone, the company is cash flow positive, and the price of Bitcoin goes up (it eventually will), then that initial price increase will only be the beginning. You also have to factor in any hosting contracts they may land, though I'm not counting on that.
Thanks madcasper, I might gather up a few dollars to get some down here. As long as everything I stated earlier holds true then it will turn around.
I started buying huge chunks at $1.25 and may never break even, but I see no indication of fraud here as some have stated. The fact that it’s an OTCQB stock and not a Pink Sheet means you pretty much need to stay above board as a public company. Heavy dilution and unprofitability seem to explain the current price. Of course we never really know what goes on, but this is what I see.
I envy those who are able to buy now. it's still a risk, but one worth taking at this juncture in my opinion. If some estimates of the total share count at the end of all the dilution or correct, then the dilution is winding down. I have no clue where the bottom might be, but I'm sure at some point even the "diluters" will hold off selling if it gets too low.
I have noticed the CEO has grown quiet lately. My hope is that he doesn’t want to make any more positive statements just to give the diluters a better price. He’s waiting like the rest of us for them to finish unloading.
So the possibilities here:
1. If INTV is profitable with Bitcoin at over $4500 then he should have a decent amount of cash by now to purchase more mining equipment or pay off some debt, or at least renegotiate any remaining debt. The next quarterly will finally set the record straight on this.
2. If he lands a hosting agreement that would mean even more profits.
3. If Bitcoin price goes up then the profits go higher - Bitcoin going up I am sure will happen sometime in the future.
There is also the possibility that many more millions of shares are issued, which would likely end the chance of anybody getting their investment back. I don't see the need for this if he's currently making money, and besides, he wants the price to go up too. But the possibility is always there; especially if the next quarterly shows no profit.
It's still a gamble but perhaps one that's worth taking here.
Good luck everyone.
Long Blockchain Corp. Enters into Definitive Agreement for Sale of its Beverage Subsidiary Long Island Brand Beverages
"Under the terms of the agreement, ECC2 will acquire 100% of LIBB. The transaction consideration payable to LBCC will consist of CAD$500,000 in cash and 3,666,667 newly-issued shares of ECC2, with the share consideration subject to a working capital adjustment."
Official PR
Still doesn't seem to be anything going on here, though for some reason the price is staying in the .40 range. If they are doing anything crypto related now is the time to let the public know, with Bitcoin going on a good run.
Scotttrader80, I am amazed at your resilience here. When it comes to the facts, you are usually correct, but when it comes to the price, you are usually wrong *buy the dips". If you are following your own advice and buying the dips then you have got to be down like everyone else.
Though I consider my money to be gone, I am watching out of interest to see if you finally end up being correct in the end. Of course if it goes down to a penny and it pops to .10, that doesn't count. I'm glad you're here, keep up with the posts, it's good to know what really is going on.
Good luck to you.
To be clear, I did say "probably". There is always a chance it could come raging back, but I'm just trying to be realistic. It could jump to .75 tomorrow and many will have done well, but I would still be way down.
Time will tell.
Thanks for the reply. Yes, if he can somehow pull this off his timing could be perfect if the Bear market is coming to an end.
Not sure there was ever anything going on here. It might have been someone who bought a big chunk when it was at it's low, which stirred some interest and caused others to buy, creating a snowball effect.
Scottrader80, just want to say I'm glad you have been around to set the record straight when some of the posters were spewing lies.
The CEO did everything he set out to do, it just didn't work; the bear market did him in. Since I'm in at over a dollar I'll probably never see my money back, but that's on me. I was gambling that the bear market would be over by the time his operations were going at 100%.
But you do have to admit that you have been wrong about "Buying the Dips". I think you've been saying since it was over a dollar and continue to state that today, even though it has lost over 90% of it's value. So my question is why? what do you see that others don't see?
The price has been rising, so there may be something going on behind the scenes. But other than a low float what makes you think this is going to blow up? Are you just assuming the company has something going on?
If we see anything from the company I'm sure investors will become interested again. There's simply nothing to get excited about right now.
Volume and price creeping up. I wonder why the interest lately.
https://www.newsbtc.com/2018/07/07/u-s-regulatory-clarity-should-aid-new-bitcoin-etf-application/
https://www.ccn.com/south-korea-to-loosen-crypto-rules-in-cooperation-with-g20-directive/
https://www.coinspeaker.com/2018/07/06/six-swiss-exchange-develops-a-blockchain-based-platform-to-tokenize-traditional-securities/
I truly think it’s only a matter of time. The South Korean link above could become a template for other G20 countries to follow.
I’m buying.
They do have an ongoing business other than cryptocurrency and the price seems to have found a bottom with lots of accumulation going on lately. I don’t know why PAC feels it’s worth $1.40 but I suppose that’s as good a number as any if it pops.
I keep seeing some unsubstantiated negative posts which creates credibility issues for those posters. I am all for getting at the truth, positive or negative, but you should be prepared to back it up.
Either you believe in Bitcoin or you don’t. To me, it appears that many countries and financial institutions are slowly accepting the fact that Bitcoin is not going away. Just in the last 24 hours:
Japan’s financial regulator is considering making a regulation change which could open the door to an ETF.
JPMorgan (Officially against Bitcoin) just announced in an internal memo that Bitcoin and various Altcoins are here to stay.
I can go on, but it sure looks very positive for Bitcoin to me. If Japan or the US allow an ETF then all the crazy numbers we’ve all heard about Bitcoin going to $50,000, $1,000,000, etc. will probably happen.
As for the “one man show” comments. Why pay unnecessary expenses when you can subcontract everything you need. I think this is the right move to make for a small company. I also like the fact that if mining a coin is not profitable he can simply turn the machine off until things get better or mine something different (though this option is limited).
Investing in INTV is a gamble and there’s a possibility that you could lose everything, you need to understand that going in. But if you take everything at face value - no debt and so few shares – if by the time all the mining rigs are up and running bitcoin has gone up considerable from its current price then INTV could skyrocket.
It’s all risky, but could pay off big if things work out as planned.
So far I think the CEO is making all the right moves for the future. Either you believe bitcoin is going to move up much higher or you don’t; so it’s really all or nothing for this little company. It may come down to India, China, and the U.S.
China has already outlawed crypto, so just about any news that comes out of that country can be considered positive.
https://dailyhodl.com/2018/06/06/china-is-changing-its-stance-on-bitcoin-and-cryptocurrency-facing-pressure-to-lift-ban/
India seems to straddle both sides of the fence. It does look like they are about decide on how to regulate bitcoin. Regulation always seems to create FUD with bitcoin at first, but this would be good news if India decides bitcoin is a legal investment.
https://news.bitcoin.com/indian-crypto-regulations-ready-in-july-official-reveals/
The U.S. seems to be inching its way towards regulation. With some of the major financial institutions prepping for “Legal” bitcoin trading it certainly seems like they know something. If any Bitcoin ETFs are allowed then bitcoin will have no price ceiling.
I personally hope the CEO doesn’t sell at today’s prices. Hold out as long as possible – get a loan if you have to – but wait for the bitcoin run. If Bitcoin makes a big run then paying off the loan will be easy. If bitcoin fails to make any gains, then this company will go under eventually whether it gets a loan or not, so might as well gamble on the big run.
In the end, I think this company will either go completely under, or be worth a bundle; no in between.
I agree, it all comes down to bitcoin price.
At first I hated the idea of the CEO posting on twitter, it seemed unprofessional to me. But I have been watching another company switching gears getting involved in crypto, but because most of what they are doing is in the background and not newsworthy it makes you wonder if they are still in business. So now, though I don’t like his comments sometimes (I like to keep things professional) I think keeping people in the loop via twitter is a good idea.
For those who complain about it being a one man show. I personally know a CEO of a small public company and he does just fine doing things himself; you have to keep costs down. I would like to see this CEO not pay himself unless the company is profitable, that could instill a little more confidence.
He is building for the future, but that doesn’t mean it will be a success. I’m sure much of the mining will be at a loss for now, but if can hold out for several months without selling, then sell when BTC/Alts move up then he’ll look like a genius. If BTC stays down like this for an extended period then it could be difficult to stay in business.
I think it all comes down to how long this company can last until Bitcoin moves back up again.
I skimmed through the 10-K and it looks like nothing much is scheduled until the third quarter. If that’s the case the share price will continue to fall. I looked at Hashcove’s website and there’s really nothing there. If they plan on developing blockchain tech with the capabilities they talked about that could take a year to two unless Hashcove has something other an outdated website.
Is there really anything here? It did look like something was getting put together, at least an attempt at it, but then nothing.
Why all the volume seem to come out of nowhere, along with a a good price increase.
I have all my shares I've held for many years. I'm also hoping things will get a little more interesting with next set of financials. Or perhaps some positive surprises like a new contract.