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Still here, not sure what happened to mods/Update
I went in and checked we can only remove ourselves as a moderator not remove anyone else. Unless maybe there is something with having to be a paid member to moderate? Not sure.
In any case a few notes for you... some business, some personal. Ill try to be as descriptive as I can since news of any kind has been slow. At least in the recent past we would catch things on the telegram channel
Dan is still trying hard to raise money as has been the case since we started talking here.
He had a few parties he is talking to and then I put him in touch with a bunch of people. I do not know much about these possibilities but they are in the works and I do know he is trying hard to get those done.
I can talk about about what I tried to put together. It was back to the merger idea with the water/solar company and raising a bigger pile of money and getting a bit more help on the mgmt end etc. That seemed to be moving forward a bit but slowed down for a few different reasons which might not mean its dead but not sure. In the process I hooked Dan up with a few people that are still in active contact with him about other potential sources of money. One hit up a few wealthy contacts and had some positive response.
It is pretty difficult to get this off go because there are those legacy issues that will cost 2-3 million minimum (even if settled) etc.
The reason why I tried to wrap the two companies idea is that I think it would take everyone's resources. My contacts, Dan's, my clients, the water/solar guys to put together a deal with big enough cash to make it all work, with the goal to have a clean shell and uplist.
The WWS company once had a market cap of 1 billion dollars. Dan once had one of 160 million dollars.
In any case it is possible that might still be a possibility. Of course everything is up to Dan and what he wants to do but he has seemed open to pretty much anything.
One rich person could fund this whole thing, which is what is so frustrating.
In the good news, Modi won re-election and is upping the game in solar and the solar charka project. It is a lot of work and we can grab a bunch of it if we can do it and have some money. Also those cell phone towers from diesel to solar/wind are also work we can start with some money or financing.
In any case it seems clear that no matter what happens moving forward unless a miracle happens there would be dilution along the lines of what the worst case scenarios I use to post about might be. But still anything would take this higher than where it is and is better than being on the 1s.
A few of you might remember I have been having some health issues. Things got a bit worse for me recently :( . I got through my busy tax season and put off the crazy docs til after tax time. They loaded me up with some meds had a bad reaction twice that almost killed me but im still here than God :) . Pretty stable now , just trying to feel good each day. I am down over 55 lbs over 2 years and was feeling pretty good . For some reason the meds they say I need dont agree with my heart and I have to go for genetic testing to see if I have the same issue my dad had. If so, no help unless I get the CRT-D implant.
I had been actively working on stuff for a month or more but in the last few days tailed off and will have to figure out some answers on what to do since I have been only able to work at best part time (day job). It is summer so not too bad yet but I have tons of work to do.
I was actually thinking of selling my stock, but cant really get much for it. I figured if I ever worked anything out for Dan I could get a consulting gig or options or something but right now I just hate having all this medical (Deductible each year 4k). But still holding all the stock since the last top up when it first hit the 1s.
Hope everyone is doing ok. I gotta say even a nice 10 to 25 bagger would be good here :)
I have been doing a few other things. I saved all my plus1 coins for all this time then sold them and bought Bitcoin SV which went way up. And I worked myself up to #5 out of 10,000 people on a free faucet site where I get a tiny bit of free crypto and been parlaying it in (all small money). Learned a lot, and like many of you hoping to catch a break for once :)
In any case, I hope everyone is doing well. I wish I had some better news. It has been a long ride.
Janice, I have had that happen as well. If it happens again just reload the page, it will realize you are logged in and let you claim!
By the way has anyone in any recent months got a 10 coiner? I think I have not even received a 1 coiner in 6 months LOL (from the faucet reward)
When suspended since there is no market making all buys and sells are matched so there was , like usual a buyer and seller. Price ended at 1 so I would say that means someone put up some 1s to sell (most shares were traded at 1 tick)
Does not really mean much in the scope of things but if we see more volume that means there is more interest in buying whatever is for sale
Looks like there were three trades. 2 at .0001 and 1 at 0002 with most of the shares at .0001.
Sometimes trades sit a while until they match them up I guess.
Sorry for the delay in answering, just a bit more info.
Apparently (from source I talked to on the free faucet thing) when the plusone coins were slow moving the difficulty level of mining them dropped significantly pushing some big mining power over. The miners were able to mine quickly a lot of coins and dumped them on the market (that is when it hit 1/2 cent for a few days.
While I did not mention that to Clem in email or to help/customer service when moving my coins he stated that they survived the attack of the sale of some 200,000 coins and came back from it and was hopeful the coin would move up in price in the later half of this year as more use cases came up and as the crypto-thaw hit second tier alt coins etc..
It was all very basic stuff. But to be honest as some of you have caught on to, I think there are a lot of legal struggles for some US coins and alts in general so I decided to go with selling them. But I have 50 here and more on the freefaucet site which rotates between coins and dumps some here and there.
Also I get some from the plus1 tip bot on their discord channel.
Some plus1 info and selling the coins etc...
Just wanted to update everyone and tell you that I received a personal email from Clem.
As you know I have been collecting these coins for a long time. I finally had a use for them so I decided to transfer them to SouthXchange, which is an exchange like TradeSatoshi that many here have used.
It took a few days, a call, and a few emails to get those coins moving even after I transferred to the wallet address on the exchange. They finally got over there , I finally sold the last of them at different prices but there is really not much of a good market currently there. I had sold and invested in BSV which has really gone up. I added a few other small coin sales to the BSV stack.
During the process I received a nice email from Clem talking about his hopes for the coin after the mining attack which sent it lower and about computing power put on the blockchain etc.
I still have some plus1 on the freefaucet site and will accumulate again at these low prices (plus the 50 from the recent faucet here).
But in using freefaucet I learned a real lot about things and it actually helped me make some real money with my plus1 coin money.
I also want to point out that a while back someone came here to mention a problem he had with TradeSatoshi, that he had about 1 bitcoin worth of coins locked up there and was having problems.
When I was selling some small coins I got the trade done and transferred but experienced the same problem with TradeSatoshi, account lockout and no customer support even after creating a "support ticket" I would be careful until we find out what is going on there and issues get resolved.
Update on Moving plus1 coins..
I am sure people have stopped caring here but in case you ever want to move your stash it might help you.
ADVFN who runs IHUB finally emailed back and manually placed the move on the coins. Now the coins have to wait until enough blockchain transactions confirm them. Another move I did from the free faucet site is also in limbo as is another coin by ADVFN called Buenos is stuck as well pending confirms.
So in reality my Amazon order coming by US mail arrived more quickly than my start of the art digital electronic currency which was moving across the internet! LOL
So to review, if you have a stash like me here in IHUB. When you have a place to send them to like an exchange ,you get the wallet address to send them to.
Start the process on your wallet page here. But then it has to be manually approved by ADVFN peeps in the UK.
If you have a problem you can call the number at the top right of IHUB pages for support and or utilize their emails at support@advfn.com or help@advfn.com
Not sure when these will clear on the exchange.
But the delay already cost me $ as the coin went back down
Called back the support number
First I got a really weird almost arcade game sounding song playing after it rang for a while, then an answering machine.
Ill see how they handle the email and calls but honestly thinking of cancelling my paid subscription to IHUB.
Even when you have all that you cannot seem to get the coins off the damn site!
I have an account at Coinbase, Tradesatoshi and Southexchange. Tried to send coins to South, still not even showing in blockchain. Emailed and called. IT is crazy. I never had a problem moving coins before.
Heck at the current price this is 500 bucks in real money for me and as soon as I clear I can sell. I actually will keep some though in case that facebook rumor was true.
Well here is some info for you!
I tried to withdraw my plus1 coins last night (before I even noticed the price spike)
I withdraw coins to a SouthXchange address, all seemed to go well. But it never showed up in the plus1 blockchain.
Found out on the plus1 discord channel that all withdrawals off IHUB wallets have to be approved manually.
So I called the support number showing top right of our screens. They said to "email support with user ID etc" .
That support email is support@advfn.com
I did so , it is still not showing.
So far no email back.
Modi launches 1,000 day plan includes 40,000 Megawatts of Solar projects
1,000 Day Plan - Modi
Gotta believe this is good news!
No, but I did get a call from someone from a group of people I reached out to a while back and set up a meeting and a demo with one of the investor guys. This came completely out of nowhere.
All the news I know is
1- It looks like Modi won the election with is good for prospects in India
2- Impactppa still seeking to raise money and efforts are ongoing with a few different groups
Nothing appears really close and there has been no news really anywhere.
If I can get any close with anyone I know ill post back
If you opened a coinbase account to play around buying BTC to buy some PlusoneCoin you can earn some free money for watching a few videos now!
In addition to this link if you poke around there are more chances to earn money. In 15 min or so I earned 20.00 in crypto just watching videos for a few different cryptos. One of them I found interesting and even downloaded the browser which takes out ads, and shares ad revenues with you from occasional ads based on your tastes.
Its pretty cool stuff.
To review you can earn
$10 in BAT currency for watching videos
$10 in XLM currency for watching their videos
And you can invite friends and earn up to $40 more!
Coinbase Earn
Some links on this page
plus1 org page
As I mentioned in earlier posts there still seems to be some plans for plus1 coins as per developers I talked to on discord.
There are also some rumors about things...
In any case it seems as though Online Blockchain the company that started plus1 is focusing their attention on the freefaucet site .
It is going well and they are signing up 400-500 people a day or something.
I think the days of active faucets might be over, but it might be possible Clem does something with this project. Im holding my coins and earning more over on the free faucet
This is one of the features of the freefaucet.io site that I mentioned not long ago.
You can set up your own geofaucets and actually even earn coin on your own faucet.
I am loving the site so far and even though BTC dropped last night I am doing well there! I am also in the top 40 out of 8560 members in terms of XP (experience) level. Should get a decent dose of the mining when it hits June 1 or so.
It is really well set up and some suggestions I made on discord got picked up and contributed to a redesign coming up.
Also for anyone that might have a Coinbase account when you were learning about crypto or gathering your plusone. The coinbase/earn thing was interesting.
Last night I earned 20 bucks watching about 20 minutes in short videos. Money already in my account.
One of those learning installments was about the Brave browser and I am already earning a tiny bit there.
I know everyone is reluctant to try new things but freefaucet has really upped my knowledge level, and put me in touch with people that are doing things in this area. More features are coming soon as well.
Yeah pretty meaningless trades here but there seems to always be buyers around for shares. Lots traded since the suspension.
Yes, the blocks were taking too long so per their algorithm they reduced the difficulty level of mining the blocks to get more computing problem on the issue. Miners were able to mine a lot of coin at 1/4 the usual difficulty level. But it resets over time and the freefaucet.io peeps were buying up a lot of the coins for their faucets to help the price recover but probably still some to be sold by miners.
I think over time it will level off but that huge amount of coins were apparently dumped immediately and automatically at the bid price all the way down to about 1/2 cent or so so some damage was done.
I am going to mention they need to refill some IHUB faucets since the price is down and see what they say there.
Janice, like you I have been collecting plus1 for a long time. I have over 7700 coins. With the faucets dead for a while now I finally and reluctantly checked out the freefaucet.io stuff.
I started as a free member for the day but then decided to try it out at the highest level for a month to see how it works out. I really think even as a free member it is well worth it just to learn more about crypto and be in touch with people that actually have info and knowledge about different crypto projects.
I think you would find it interesting and useful. And it beats staring at the screen waiting for faucets to open up.
The bottom line is if Crypto goes into a bull market and really becomes something it will be a good way to gain knowledge and some money without much risk. If not then even all our plus1 wont be worth all that much.
So far here is how my "coinstacker" level account has worked out.
I compute the cost as 100/30 days or 3.33 a day.
Right now after two days of my faucet draws and the huge nightly drops I have a value of $9.08. I know it is not always going to work out like that because we are in a rapidly rising market but that number would be even higher if plus1 did not drop so much (as that is one of the coins I draw).
Now you can make money also from referral links or geofaucets and other things and that does not include the once a month drop from the bitferno mining thing.
There are numerous smart people answering questions and lots of new features coming.
Also if you go buy any coins between the bid/ask spread and commission/transfer charges it is crazy. This way they just accumulate and you pay none of that to get coins.
There are some videos on youtube which show a little more but it is super easy to use and you can either go free or 5 bucks to 100 a month. You can just stop at any time if you do not like it.
Ill report in on how it is going for me, I am not sure if Ill stick with this level or go lower next month but so far I find it worthwhile.
That sucks!
I currently have nothing on the exchange there but that would be my place to go to sell should this coin ever do anything.
Any updates on your issues there?
I hope things work out and you get your coin back!
Anyone still part of HappyPool mining plus1?
Was wondering if they at least saw some of the benefit from the drop in mining difficulty with the plus1 coin?
IHUB sells a lot of advertising just has not been selling faucet advertising lately it seems.
Id like some faucets too, I accumulated a large amount of plusone for free. The good news might be that the huge price drop makes them able to offer tons of coins again? At least I hope so.
I did find out what happened to plus1 today.
According to a post on the discord the mining difficulty dropped to 1/4 of what it normally was allowing somehow the mining and sale of 100k coins or so.
"the block period before difficulty adjustment lasts something like 2048 blocks I think - 2048x50 = 102,400 coins being sold effectively at 1/4 - 1/5th the effort of normal mining - Difficulty is 314 (changed earlier today) vs. around 1200/1500 normally"
I hope this resets and the price normalizes again or all that time collecting from the free faucets will be basically wasted.
Freefaucet is adding about 500 members a day and adding features and I think this is where their focus is going to be. Plus1 does have projects in the works and some of the people working on them are posting on the boards there.
Well today was a weird day for sure. Some big sellers in Plus1, huge huge sales.. knocked the price down to 7/10ths of a cent before recovering a bit to 1.9 cents which it shows now.
Not sure where that came from. But Plus1 is not dead yet. Still some things in the works.
After 7pm tonight when they drop more coins ill fill ya in on how the second day goes.
There are more features coming including faucets like we use to use from sponsors. I bet that is why they disappeared here where we benefited from drawing on them for a while.
Overall , while people do not like to give out credit cards or pay for things I think a free membership makes sense for people looking to learn more about things and be in touch with people working on projects etc.
43,000 Plus1 Coin trade...
Hey everyone! It looks like someone took advantage of the recent bump up in price and increased bidding interest and sold a lot of coins all at once at prices from near 5 cents all the way down to 2.9 cents.
This was one of the largest trades I have seen on this small coin.
TomBillion , the first day on the highest level of the freefaucet thing worked out well. Around 7pm EST they dumped three coin drops. Only saw one at first, but after all three and the 7 30x coin faucet pulls I did earlier I wound up with 54500 or so Satoshis which at the time was a bit over 4 bucks. (dividing the 100 month/30 days =3.33). Now this was an unusual situation because of the big up day and as of this morning it is showing a 51405 Sats value in the account (taking into account relative values of the different coins relating to BTC) so that is about 3.70. Still not bad.
Obviously not every day will be a strong up day but if this is indeed a recovering and rapidly rising market it is indeed possible this might be a decent way to wade in.
First day on FreeFaucet.io - Info
I figured it might be helpful to fill people in (who might not already know) about how FreeFaucet works. I thank Tom here for mentioning this from time to time so I finally gave it a try.
I signed up for a free account at first. Poked around, drew down on the free faucet pulls and looked around , joined the discussion and learned quite a bit today. Unlike here on the board there is active discussion and at least some contact with people that are involved in working not only on this project but on plus1 as well.
There are different levels from free to $5 to 100 dollar a month plans. I believe each is for 30 days then you pay again as opposed to the subscription from what I can tell so far.
There are 11 different coins including bitcoin, plus1 , brazio , etc.
I am trying the highest level for one month to see how it works out.
For that I get to pull on 7 different faucets at 30x the normal faucet collection rate. I also get 17,000 claims a month that are automatic and happen every day at midnight UK time (7pm EST). The coin/coins dropped are at their choice for those.
There is also a mining pool which distributes a tiny bit but if you are active on the site in the community and on the site in general you might get a bit more of that as there is a ranking system based on your interaction with the site.
Lots of good info on the discord which pops up whenever you click on "HOME" it will be in bottom right of screen.
Through discussions I found out there were some plans for plus1 and there might even be a trading/exchange system set up here sometime soon, so you could say convert your coins to BTC then out etc.
I feel for knowledge alone it is worth a shot. There are also other ways to earn coins, like referral links, setting up a geofaucet, which would be ideal for people that hold regular meetups etc ( I am going to send one to a friend of mine that does that). They set up the faucet, print out a QRC code, people scan it get free coins and you get coins too.
Since my first 7pm EST drop is just happening and tomm will be my second day ill post back with more info.
Ill post a referral link below in case anyone wants to at least try the free version since it costs nothing to look around.
FREE FAUCET
Well I will let you know how it turns out after a month.There are a lot of other interesting features.
I also found out there are plans for Plus1. No one is talking about whether or not it is plusone that Clem is talking to facebook about on the video but it is going to be involved in a few other projects shortly.
So overall if the market is heading up it will be interesting to learn more and see how this works out and stay in the loop with people that know which projects are moving.
I went over on the THCT board and saw the news that their other crypto deal got cancelled (one with BurstIQ), I am worried the same might happen with the Impact deal. But Impact was never mentioned in that article (read the news section there)
Tom,
I tried to grab a 20 pack for 3.95 just to try it out. I live in USA using a visa debit card but it stated "your card does not support this type of transaction"
Not sure if its a USA thing, debit card Visa thing or something else, let me know if you have luck. I really do not charge stuff to credit cards. It had no problem with my IHUB subscription though. Not sure what the issue is. Ill ask in chat there.
Thanks Tombillion1, I got to see the prices only after signing up for a free account.
There are various plans from 5 bucks to 100 bucks or so. A bit hard to see how they actually work out without trying them but there are some calculations people have out there that show for instance that the 100 buck plans provides about 34 bucks in coins a month.
It is pretty interesting though and well set up.
In the video posted I wonder if Clem is meeting with facebook about plus1 coin? He said he could not talk about it but maybe that is why plus1 has been quiet lately? IT would be a nice surprise.
What do the membership levels in freefaucet cost?
Are they even open yet? I checked the entire site and did not find any.
Was thinking it might be smarter to get rid of my paid membership here on IHUB and join the faucet game?
True, but there is an election in India now, I think it started and 900 million? people are voting over 6 weeks. Once that is done we can see what happens in India and with the projects.
I do agree, comments/statements need to be followed up on . It has been frustrating to say the least.
Well ill be the first to admit there is a lot we do not know and it is possible some things happened we do not know about. But that said some info posted here is just not correct.
First WSTI was a start up company. Even though we were coming out of the worst recession since the Depression these are the sales numbers from the financial statements...
2012 11,000
2013 896,000
2014 1,764,000
2015 2,821,000 (and that was only for the 9 months they reported they did not report the 4th qtr.. Est sales for 2015 were 3-4 million for the whole year.
Then in 2016, they had a huge deal in Argentina that we did not know about until someone dug up an invoice for a major system installation in the neighborhood of 6 million dollars. (This was part of a package of info sent to preferred stock investors or potential investors.)
So as far as we can see the company was growing sales.
People mentioned huge salaries.. I do not think that is true.
Here they are from the financials
Dan
2012 123,706
2013 123,706
2014 204,846
Mr Keating
2012 50,000
2013 50,000
Travis
2013 62,185
2014 127,436
Ms Ferguson 2014 89,846
If one was seeing huge compensation it was stock options granted to Dan and Travis I believe in 2014. Not actual money paid out.
The Wall Street Revelator report with Musk
-Was done by a guy who bought a large position in the company and paid 900,000 to Mandarin Media. The stock went up, he sold and either he or others who wrote some negative articles then sold the stock short.
One of those articles mentioned an SEC investigation. Which, the company stated was bogus and we know it was because nothing ever happened and the company continued to limp along.
The problem, as I have stated many times before is the company ran out of money, bigger jobs took larger amounts of money and only in the end started getting better margins. The import/export bank which funded bigger deals out of countries was not funded and the efforts to raise funds via a preferred stock offering failed.
Then the ImpactPPA token/crypto thing only raised limited funds.
I do not know the deal on Dan's home. But he is 60? or so years old, I forget. People in Cali bought homes for a lot less years ago and they are worth crazy prices now, like 200k to 1.8 million. So it would not surprise me if he has owned this home for a long time.
Obviously from the sales growth the product had a niche. And obviously Dan did not give up even though everyone was telling him to file bankruptcy.
What happens from here is difficult. With ImpactPPA not raising enough funds to help WSTI. With the major contracts seemingly on hold until funds come in and with numerous issues to work out it is super high risk as it has been since 2015. We thought we had taken off in May of 2018 but ImpactPPA just could not close on the 10-20 million it needed to make everything happen and clean up WSTI
Hey William,
Sorry it has taken me a while to get back to you. I had some medical tests this week so that has been on my mind.
You can click through the pages and read other posts I made but ill give you a quick review.
I have been in WSTI since late 2015. At the time the company was current in its filings and reported 4 straight years of sales growth. Unfortunately financing ran out as the market for alt energy collapsed when oil prices dropped and many companies went under. Also the Import/Export bank which financed many of these deals in other countries did not get funded for a while by Congress. The company tried to raise money many different ways but eventually stopped filing reports and while continuing to limp along it was barely in business.
Fast forward to Dec 2017. Dan Bates, CEO met with someone who suggested he try to raise money in the crypto-sphere since another energy related tech company raised tens of millions that way. He set up ImpactPPA which he was also the CEO of, which would benefit WSTI if Impact could raise money for projects.
WE did not know about this until April/May of 2018 when we asked questions on telegram channel for ImpactPPA where we found out WSTI would be supplying the equipment for ImpactPPA etc.
The stock woke up, ran up after a few big buyers hoarded shares. It seemed like everything was going the right way with a big deal in India starting and due to be finished last June/July.
Unfortunately as the crypto market crashed and didnt recover (until recently), the company was not able to raise much funds. The stock came down, eventually the SEC suspended the stock so now it trades on the gray sheets.
Efforts continue to raise funds and while we do not get much current news it is remotely possible we can still pull this off.
It is essentially the same longshot it was back in 2015 when I first invested.
The company still has debts to resolve and convertible notes and most recently a court default judgement.
On my end I know a company that creates clean water using solar power and have been trying to hook up the two companies and use their networks to raise funds. I started this process last year and visited the CEO of the water company and set these guys up on a conference call.
I am still working that angle on my end.
ImpactPPA has a project list in the hundreds of millions of dollars if it gets some funding. The other company ( a private company) also has a big book of potential business.
In addition to this info, the company put out their first official press release in years last year (I will post the link below for you)
I hope this helps get you up to speed a bit.
press release
Bud Fox? From Wall Street? ;)
Dan , that is Uniti Group and Windstream Holdings (different company), they are often confused with Windstream Technologies
Here is some background on what is going on between those two (but nothing to do with our stock )
Unity/Windstream
SUTT and everyone...
THCT over 15 again. Over 1.4 million trading dollars today and it is only noon!
15x600k =9 million
I have to say I agree with you on all that you say. It is beyond frustrating. But I understand why we are here where we are and how hard it is to get out of this pickle we are in.
I think after all the waiting we are down to these few things, if the stock holds up and if Dan gets money he might be able to get this done. I think he wants to but has struggled for years limping along with little to no cash. It is a miracle we even have a shot.
I have talked to Dan quite a bit over the last 10 months or so. He is constantly working on trying to make things happen where a lot of people would have given up. He is strong in marketing/sales getting the story and big picture across but I do think at times he could have benefited from some better financial structuring advice. But with his back against the wall numerous times it is easy to be an armchair quarterback .
I think what he does here if he can sell this stock and get other money in will tell whether or not he is serious about fixing WSTI.
Right now we having rising fuel prices (good for solar/wind), we have climate change fears running high and the stock market is holding up. There is a lot of money out there. Even Crypto bounced back with Bitcoin being one of the top performing assets so far this year. He has a bit of everything in tail winds here.
Oddly THCT might be the one lucky and unexpected break we got so far.
After all stock sale money is better than investor money any day of the week (no dilution).
Oddly we are right about where we were last year at this time when this thing woke up from the dead.
I do think it would be nice to see some clarity and follow up on things stated on telegram as well.
I try to stay positive as you know but this is a longshot with a lot of issues. It looks like we are still in the game for now but that can change at any time.
Not really sure what the plan is here. As there is waning interest and eventually people will stop mining it then it will come to an end.
Maybe they should but the max coins in half to boost interest, then burn a percentage used in the faucets. Without some kind of plan or anyone working on things it is going to go nowhere.
These convertible notes were issued years ago (the ones that are the subject of the lawsuit) they existed long before you invested and probably before I got in in late 2015. There was no living large off the notes, they were a last gap effort to continue funding WSTI's survival when other means of financing dried up.
From my initial reading of the Preferred A stock ImpactPPA owns from what is available online I thought it was not restricted with no delay but apparently due to THCT being behind in filings it was locked up for a bit. Til sometime in the coming weeks to month. If it was 1 year from the agreement (not sure if it was) it would be in the next few weeks.
Now keep in mind this is not Dan's money. There are investors in ImpactPPA and investors in WSTI . The stock is owned by ImpactPPA and the tokenholders (early impactppa investors) have to be taken into account.
If I had to guess chances here. If the stock holds up and Dan can sell then drift some off over time, AND he gets the investor group in. I would say our chances might be decent to work out. If either thing falls through I think it would be hard short of something else developing.
I have the LG vs WSTI Court Docs
I paid to download the Court settlement documents. I can offer some info based on reading it. Keep in mind I am not a lawyer.
It looks like a default judgement for the plaintiff (LG) was served to the company (WSTI)
The "proposed" judgement would be
$365,398 for two notes including the interest and penalties
19,125 for reimbursement of plaintiffs legal fees
475 for court cost reimbursement
As expected it was a monetary amount north of 250k. I think we estimated it could be $350k but the penalty portion was pretty large and brought it higher.
So this becomes another issue WSTI needs to resolve. It did not go the way the attorney expected at all with the fighting the convertibles based on NY usury law etc.
In any case, these are rough numbers but the "nut" that needs to be handled..
385K This courtcase settlement
1.7 million existing convertible notes to settle
2 million Import/export bank loan I believe with personal guarantee
APPROX 400-500K FOR FINANCIALS
Unknown amount of other bills/issues.
Currently ImpactPPAs stock ownership in THCT is worth approx 7.2 million. And efforts continue to land an investor group to fund ImpactPPA. If that happens some money might be able to add to the cleanup total available through licensing fee relationship with WSTI
I believe if Dan can land the investor group and this stock holds up (or if he was able to sell any in advance etc... it is possible to clean up but would take both things to happen.
I would take care of the 2 million dollar loan and the courtcase first. Offer 20 cents on the dollar and stock to the convertible note holders , get the financials done and let it rip. The upswing in price will get the rest paid back.
There is really no other way to do it. Left to be seen is if it is worth it to Dan to spend this much cleaning up WSTI or not. It might be important enough though because of the personal guarantee but also because the court thing could result in an attachment of assets (if not paid) that would be needed to continue even ImpactPPA in the way it was intended.
This is really just a meaningless report. Many people here on the board hold far more shares . These are probably legacy shares owned by some fund that is still reporting it as a holding.