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What a BS 8K. Not one word about the business; whatever that is.
"Mines at .0019 sell."
Sounds like you sold at a loss and then turned basher.
Praxsyn Corporation (PXYN)
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0.0350-0.0027 (-7.16%) 9:10P EST (OTHER OTC)
Detailed Opinion as of Fri, Jan 30th, 2015 View Help
Detailed Opinion
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Short Term Indicators Average: 80% Sell
20-Day Average Volume - 1,015,410
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Medium Term Indicators Average: 100% Sell
50-Day Average Volume - 1,101,250
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Long Term Indicators Average: 100% Sell
100-Day Average Volume - 1,337,466
Overall Average: 96% Sell
Price Support Pivot Point Resistance
0.0350 0.0291 0.0350 0.0409
Yea, it is probably as good as the pxyn i-hub board; EXCEPT it is more well read. It also comes out when the form 5 dilution notice appears. This is why the TA is gagged.
Sierra World Equity Review.blogspot.com
Form 5....Daniel Zagorin ....."No longer 10% owner pursuant to Praxsyn's issuance of additional stock." 01/29/15.
Praxsyn Corporation (PXYN) SELL ~ 5 Day Price Target: 0.0295 Cents Issued 01/29/2015 By Sierra Equity
"She mentioned the reason there is a delay in the filing of the quarterly report is due to a discrepancy found with an auditor over a sale"
Having worked with auditors I believe this statement to be bogus. Resolution of "a sale" simply does not take that long.
I am more inclined to believe it involves related party transaction as reported in their last SEC filing. Now Sarbanes-Oxley violations may take a long time.
I wonder how many shares Pxyn must give NHS for their bailout help.
Pxyn should trade better in the low 2's.
Look out below...........
These guys are in trouble.
The little choo-choo that couldn't.
I believe Bigg is having Auditor/SEC problems.
No one know how much dilution these guys have since August 2014. They have a history of dilution.
Well, if you are going to send an e-mail,,,Ask the real question....HAVE nrti paid ol Martha (insider trading)
NOW, what is ol insider gal going to do about it.
ONLY THE FACTS.....Read the Financials.....KNOW who is on the BOARD.
I think ol doctor lady knows how to dilute the fk out of this thing.
Well guys, when you will see the dilution in the next Q. (Increase AS) It is being hidden in new classes of Prefereds.
These Prfereds may be converted to common at any time. Of course, retailers will not see this until the following SEC Filings. (after the fact, no filing required}
This is why the Share Structure is gagged.
Disclosure: I have successfully flipped this BUT the current financial structure does not qualify PXYN as a going concern. (lack of cash)
The analysis of this legal foreign entity all is Sarbane/Oxley.
No auditor is going to pass them with the Related Money they have passed around. (SEC involvement}
Bigg as much says this is a problem in their most recent filings.
But, this is a sub-penny stock.
So who knows!
Yep, and that authorized will be increasing significantly in the 4th qtr. The AS was 1.1B on Jan 1, 2014. I expect 2.0B in the 4th qtr. Major DILUTION!
No wonder the share structure is gagged.
Wait until you see the 4th quarter. My guess 2 Billion. This is nothing but DILUTION.
PXYN is creating different classes of preferreds to hide it. Still toxic dilution.
Per Filing:
"If all dilutive securities were exercised at September 30, 2014, the total number of common shares outstanding would be approximately 1.644 billion. Since this amount exceeds our authorized number of shares, we will need to seek consent to increase the number of authorized shares."
Probably why the Lin had to resign. Alot of money passing between related parties.
Auditor problems may be a result of Sarbanes-Oxley issues; per filings.
Due from related party
From time to time, BT Shantou receives advances from and makes advances to Xinzhongyang, for working capital purposes. At times the total payment the Company repaid to Xinzhongyang exceeds the total balance due to Xinzhongyang. Xinzhongyang is under the common control of Mr. Lin and his wife. At June 30, 2014 and December 31, 2013, amounts due from related party amounted to $2,934,613 and $1,630,580, respectively. The Company accounted for and presented the advances due from related party as a reduction of stockholders’ equity in accordance with the guidance of ASC 505-10-45. It is possible that these working capital advances by us to Xinzhongyang could be deemed to be in violation of Section 402 of the Sarbanes-Oxley Act of 2002, however, we have not made a determination as of the date hereof if the advances resulted in a violation of that provision. We expect that the working capital advance made by us to Xinzhongyang will be repaid. If, however, the amount is not repaid and/or it was determined that these advances violated the prohibitions of Section 402 from making loans to executive officers or directors, the Company could be subject to investigation and/or litigation that could involve significant time and costs and may not be resolved favorably. The Company is unable to predict the extent of its ultimate liability with respect to these transactions. The costs and other effects of any future litigation, government investigations, legal and administrative cases and proceedings, settlements, judgments and investigations, claims and changes in this matter could have a material adverse effect on the Company’s financial condition and operating results. For the six months ended June 30, 2014, due from related party activity consisted of the following:
Balance, December 31, 2013
$
1,630,580
Working capital advances to Xinzhongyang
1,745,349
Repayments made by Xinzhongyang
(426,126
)
Effect of foreign currency exchange
(15,190
)
Balance, June 30, 2014
$
2,934,613
Due to (from) related parties
From time to time we received advances from or made advances to related parties for working capital purposes. The advances bear no interest and are payable on demand. For the six months ended June 30, 2014, due to (from) related party activities consisted of the following:
Wei Lin (1)
Chaojun Lin (2)
Total
Balance, December 31, 2013
$ 444,749 $ (292,943 ) $ 151,806
Working capital advances
589,706 496,415 1,086,121
Repayments
(583,191 ) (162,874 ) (746,065 )
Effect of foreign currency exchange
(3,253 ) 1,291 (1,962 )
Balance, June 30, 2014
$ 448,011 $ 41,889 $ 489,900
(1)
Mr. Wei Lin is our former chief executive officer and Chairman of the Board. He resigned his position in the company at June 2014, he works as a consultant to the company and he and his family owns more than 20% of the company’s common shares. At June 30, 2014 and December 31, 2013, balances due to Mr. Lin primarily consisted of advances for working capital.
(2)
Mr. Chaojun Lin is the Deputy General Manager of BT Shantou since March 2004 and a member of our Board of Directors since December 30, 2011. The balance due from Mr. Chaojun Lin as December 31, 2013 amounted to $292,943 and was reflected on the consolidated balance sheet as due from related party in current assets and as disclosed above under "Due to (from) related parties". It is possible that these funds advance by us to him could be deemed to be in violation of Section 402 of the Sarbanes-Oxley Act of 2002. As of June, 2014, Mr. Chaojun Lin, the Deputy General Manager of BT Shantou and a member of our Board of Directors repaid to and advanced the Company RMB 3.05 million (approximately $496,415) of the working capital advances made by the Company to him of $292,943 at December 31, 2013. There is a balance of $41,889 due to Mr. Chaojun Lin at June 30, 2014.
More interested in the AS as that is an indication of the dilution.
It will be interesting to see what the share structure is here. It is my understanding that the share structure is now effectively gagged. If I am wrong; advise.
September 25, 2014....FBEC company update.
"- I have no plans for any stock split whatsoever, but due the recent contractual obligations we found it necessary to increase the authorized to satisfy our obligations."
William Coogan, President
Sir, the "links" are in the SEC Filings.
Just the Filings! Just the Facts.
GL
"its not worth my time" well why did you respond?
IMO, prxn has no real management.. TPS owns this legal entity.
Sir, pxyn does not have the funds to carry on business in California. Maybe they can licence to other states for a %. This compounding business is pretty much local.
That is the problem (local); they have no cash; just like Pxyn has cash; TPS has the cash and prefferd's.
reds.
It is my belief that the legal entity of prxn was set up for TPS.
Funneling?
It is not "old history." Anyone who has followed this stock cannot Trust bs.
The fact is pxyn is diluting. TPS is draining the liquidity. Pxyn is not "paying off debt;" they are converting debt to different classes of Preffereds. JUST AS TOXIC.
I believe their next filing will approximate 2B is Authorized Shares.(1.1B on 1/1/14) Pxyn has so many accrued commissions and they do not generate enough cash to pay them; more dilution.
Everyone talks about gross revenues but 54% are gone due to contracts and other.
Hell, the Commissions and Factoring is based on gross Revenues; much higher % than filings.
This is a failed financial model! Nothing for shareholders!
Pxyn was definitely a paid promo; approx. for a month. Just recently came of the "pumps and dumps" list.
Another 244M share AS increase required due to increase in dilutive securities.
Would not be involvd with this one with earnings coming out.....mj is not enough....
I guess ol BS is trying to scare up some more money.....................
Easy enough to check it out.
Pxyn is listed on The PUMPTracker.com as being promoted by 4 touts on Oct. 30, 2014 Should appear on Pumps and Dumps website tomorrow.