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In order to get sustained high volume we need more positive press. I've got a feeling there's news coming out in the next week or two.
Holding breath........now.
Rogue-do you have any idea when the production will start or did they only mention September?
If this is true that means they finally got financing in place to take care the day to day expenses.
This is huge!
Little off topic but does anyone else think 5barz website kinda stinks.
Zero-after thinking about it I do agree with your take on the past employee. The big take away is he/she confirmed the product worked and sounds like works really well.
Rogue-I completely understand not going into details and appreciate you doing so. Hopefully you can continue getting information from this source.
It's disheartening to hear the opinion of the former employee. Great to hear the product works but that makes it even more confusing as to why history keeps repeating itself. Does that mean management is to blame? I from time to time speak with someone (not an employee) who is very close to the action and has pretty much been around since the beginning who has a similar take as the former employee. They are very frustrated that the same cycle is repeating itself over and over again but I would say they're even more confused why the stock price has not gone up after the purchase order and financing news came out. The feeling I got the last time we spoke is this can't go on much longer if something doesn't happen. I know that's a pretty obvious statement but it sounded like it's do or die time.
Have you been told production will start month? I'm not asking for details just wondering if it's a hunch or you heard it somewhere?
They can still file after September 15th but the fines start racking up after that date. I've been told they are not cheap either.
There's been decent activity the past couple days.
It seems like there's a lot of information coming from 5Barz IR. Has anyone had any success reaching out directly to Danny, Mark, Gil or any of the other execs?
I have concerns as well about 5Barz's technology still being viable and then articles like the one below gets published. I know it's a year old but it's still fairly recent and just makes it sound so promising.
So confused.
https://www.thestreet.com/story/13754748/1/5barz-network-extender-receives-rave-reviews-from-independent-survey-in-india.html
I agree with Favorable that it is do or die time. If this doesn't start moving in the right direction soon I don't see it happening. They don't have the capital to keep it going. They don't even have the money to file reports!!!!!
I've never been so up and down about an investment before in my life. It will be a real shame if it doesn't happen.
Is anyone able to email him through LinkedIn to see if he's still involved with 5Barz? I'm not able to.
I would be interested to see what his response would be.
Found out they have until September 15th to file 2016 annual report. After that they start racking up fines.
What is the groups general consensus on the statement of this being a "scam"? I'm trying to stay positive but the longer this goes on the less likely this will ever happen. How long do we think these groups will wait to receive their product? As most of us know time kills all deals. I'm just interested in hearing from some of the more positive members of this group on what their thoughts are on the likelihood this still has a chance.
An obvious huge red flag is the simple fact they STILL have not filed the 2016 annual report. Does anyone know how long a corporation can go without filing reports? What are the ramifications if this goes on much longer?
I also got direct confirmation that Gil is still with the company and very active behind the scenes. Like Zerosum mentioned, I think We'll hear from him more once all their ducks are in a row and they're ready to announce to the world what 5Barz is up to.
Zerosum: do you know what that next step is the CEO is working on?
Is there a big announcement coming this week? Did I miss something?
It's so strange to me that just last month so many on this board were so bullish on this stock and now everyone has little to no faith in it. What happened in the past couple weeks to cause this? Did I miss something?
I don't see how it could hurt. See if we can get some answers.
Has anyone tried reaching out to Daniel or Mark for updates?
I'm guessing this has to do with them not filing their reports. Can someone find out why they are not filing reports?!?!
You bring up a good point about the lack of movement in the price last week. I thought it would conservatively hit .30 once financing was announced and obviously that hasn't happened yet. IMO there needs to be more promotion of the company. Once more people learn about 5Barz and the great opportunity we'll see the price go up.
I'm sure this is all stuff they're currently working on behind the scenes and we'll hopefully see soon.
Was the announcement this week the most important announcement in 5Barz history?
Thanks Zero for taking the time to knock out these calls and then filling us in. It's always helpful.
The router is now available for purchase on Amazon India. Did they get some financing in place? How will they be able to fill orders?
At this point we have to be concerned the purchase orders or even still around. The big $20 million PO was announced almost 5 months ago. How long do we expect them to wait around?
I agree that something is wrong and that is the reason for the lack in funding. But at the same time they had a group willing to fund a 3.5M bridge loan and it appears that was turned down for some reason. At this point I really can't make heads or tails on what's going on and the overall lack of communication doesn't help. I really don't know what to think.
The last 10q stated the offer on the bridge loan was only good through the end of the year.
I guess the bridge loan didn't happen. Anybody have any updates on funding?
Does anyone have a link to the episode?
Zerosum-Were any timeframes mentioned during your conversation? Do you think something will happen with Axis by year end?
Zerosum-ignore my last post. Your post is now on the main board. This site is acting funky.
Thanks Zero. It looks like your earlier post about Axis went to my internal email and not the main board. You may want to post again as it had some interesting details.
Something else I found interesting from the mot recent 10Q.
"At September 30, 2016, substantially all the above debt is in default and is immediately due and payable. Fair market value of the conversion option at September 30, 2016 was therefore de minimus."
Latest on the 3.5M bridge loan.
"On November 29, 2016 the Company and RRM Resources agreed to an extension of the $3.5 million to be funded in December, 2016, as one installment or on a ballet basis. Per the extension agreement, the financing agreement will be cancelled if not funded in 15-30 days as extension agreement suggested."
Looks like 5Barz has till the end of the year to get it figured out or RRM is moving on. Fingers crossed this gets done!
I agree with Rig. I don't understand why they're having such a hard time raising capital but the simple fact is they are. What's really concerning me is the 5M purchase order was announced almost 4 months ago and the two tier one PO's was announced almost 6 months ago. These big company's aren't going to wait around forever. If 5barz is not able to fill these orders in a timely fashion they will just move on. Also, we all saw in the last 10q there was little to no working capital left and again this was months ago. I don't want to sound to dramatic but it just feels we're approaching due or die time. I'm really rooting for this company and hope this is not the case but I just don't see how this can continue.
Hopefully someone out there knows something I don't and can give us some good news!!
What are the chances the below sales projections are hit by the end of the year?
http://ir.5barz.com/press-releases/detail/462/5barz-india-provides-sales-guidance-for-2h-2016-and-fy-2017
What's the latest on the 3.5M bridge loan? I believe 1.5M was to be release last week but I have not heard anything.
I did a little research and it looks like this is a pretty big deal. Any thoughts on this?
http://www.thehindubusinessline.com/business-wire/5barz-debuts-among-top-ten-mobile-startups-in-india-at-the-yourstory-mobilesparks-2016/article9382253.ece
Thanks AISI!
Thanks AISI! I recently posted a question about the structure between 5Barz and 5Barz India. I think it was post#1244. Do you happen to know anything about that?