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Exactly - do not let emotions cloud judgement. Logically, we all should have dumped this and moved on... or hedged the loss with a small holding. BUT the fact that people keep "averaging down" is emotional buying, chasing it down because they can somehow catch the bottom and hope it runs. Sure, I would say average down to some degree, but this is asinine. If you still have faith in the company, average down. BUT realize you are buying the shares Tim and Chris are diluting.
GLTA.. I am out for the day! Hopefully, "at any minute today" - we will see a 10K. Likely NOT...
Well, Well, Well.... lookie here...
We have another day going by and no 10K. Which means another week gone by and no 10K... What we are now 30 days past due on a 10K. WOW - those must be some ASTRONOMICAL numbers the auditor is reviewing. The whole reason they have a 15 day grace or allowance for a company to delay them is because a company should have them done in that period of time. Most likely they probably do, and what you will realize when they do post them is the amount of debt they are in ... which means the REVENUES equate to negative EPS. In my opinion, I am pretty certain they are diluting this stock back to ,0001. Thank you Mr Tim.
For all the longs who are HOLDING and not selling - AND KEEP BUYING as the price drops....
Where in the hell are all of the shares coming from that you are buying? If everyone is holding, then where are all the shares coming from? You know why the MM's are playing games, cause they can see who is selling... and guess who is selling.... (yes, a week or so ago I did) ... But Tim and Chris. Those boys are selling left and right and up and down, placing walls, dropping fins... oh wait.. no they didn't do that ....
Gotta love the internet....
Do you understand how a company goes bankrupt? It is not because they do not have revenue, it is because their revenue does not allow them to pay their bills. Too much debt and too many expenses can cause a company to go out of business. Revenues mean nothing if they cannot afford to pay their bills...
Let me give it to you differently...
If you bought a house of $2 M dollars and really all you could afford was a $1M house, but the bank decided to sell it anyway, you would soon not be able to make the payments. Even though you still have your job, you have revenue, and you even started delivery with Door Dash, increasing your revenue. You still can't afford the $2M home. Your earnings per month don't allow you to make ends meet.
Thats how a company can quickly go to a no bid.... keep diluting and RS etc... they would go to a no bid. People would lose faith in the company....
Oh is that what is happening now? Some people losing faith...? hmmmm
Scare these people? I am not trying to scare people. I am just calling what I see... just like everyone else who believes this will go to $10, $20, $50..... I am asking for proof of the revenues going to 9M that everyone keeps saying is GOING TO HAPPEN. As well as, I am just questioning why some people say that because REVENUE is increasing this should be a much higher price? If there is dilution and their debt is so high the EPS is going to be MUCH MUCH lower.
So yes, you may be worried that people are scared. In some sense they should be... there is a reason beyond, we changed auditors, why the 10K and fins are late. If you are a seasoned investor you can look at charts and see what could be dilution. Without the 10K and the fins there is no knowing any of the following:
revenue, Earnings per share, Outstanding Shares
So yes, people should have some reservations as to what is going on behind the door and question what is happening. A stock looking to list on the NASDAQ would not be almost 30 days behind in their filings and would not leave shareholders questioning WTF? so, yes, reservations and possible being scared of losing their investment is something people should be feeling.
......and then it will drop back to .24 almost immediately....
Unless the long awaited magical 10K drops, then we get to see what is really happening. Then it is 50/50 whether it goes up or down.
going to no bid at .0001.....
You realize in your sticky - the sheets show the year ending Jan 31, 2018 shows a bigger loss per share than the year before. So it really does not matter if revenue increases, it matters if debt increases faster than revenue to the point the company starts to show a decline in profits.
REVENUES does not equal PROFITS!
So, if they have 9M in revenue and their debt is eating all their profits, they do not have a good earning per share... which is why on their financials it shows a loss (in parenthesis) of (2.92) EPS and the year before it was only 0.00
Who is your trusted trader friend TOG? LOL
Anyone can spew information on the internet .....
The problem is NO ONE KNOWS ANYTHING until the 10K drops. Where I can see what I believe is dilution is only that... what I believe to be dilution. Just like your trusted trader friend ... he knows nothing until the 10K drops, and that is key to the whole situation here.
This is where my frustration lies, not with you, not with TOG, not with Missmacio, or anyone on this board. I have always hoped we ALL would make money. However, my frustration lies with two guys who have strung investors along and have not lived up to their promises. In all my business dealings, in all of my life, if I make a promise I stick to it... if I feel I am going to fall short, I notify the person and keep them abreast of everything. That is what a good company SHOULD and WOULD do....
How do you know revenues are increasing? What 10K did you get to see that no one else has? How do you know anything for 2018 ? Oh did the great and magnificent TOG say that? He also said that we would see a 10K on May, May 15 or May 16, and then reassured us when they said one week from May 17.
How do you know that revenues increased?
I can, however, compare a company being run into the ground. If a company disappoints and "screws" over its shareholder, the perception of the company, by shareholders and customers becomes very tainted. True, right now they may have revenue reported, but that was 2017 / 2018... we know NOTHING of 2019. All but what TOG told us.....
If they do not produce 10K and fins, and they continue to dilute, they will no longer be seen as a company with a "good track record". Shareholders also influence the name of a company in the OTC. Its not like Amazon or other Nasdaq listed tickers where the name carries separate from the shareholders. At this level in the OTC - a lot of business is drummed up word of mouth.....
WOW - you guys will use and excuse to say its not dilution...
I bet it is investors next shaking the tree for pennies? Really? Large retail investors shaking the tree for pennies? I bet they are flipping this too, cause a large retail investor is looking to make $2500 off this one stock. I am sure they all planned that early this morning. Let's go shake the tree on these fools, get those weak hands out.....
HAHAHAHAH!
LOL dilution to pay off debt is still dilution....
I doubt Chris would run his company into the ground, but Chris is not running the company it seems. Our boy Tim is running the company, and well his track record stands for itself.... MCGI? .0001?
Oh the Great and Magnificent TOG told us what is in the magical 10K....
We are all going to be Gabazillionaires TOG said so, TOG said they would post on May 1 and they were all ready, then we were promised again that we would not be disappointed. Don't worry someone from the stock board said "Trust me - we are good!" I am sure he didn't mean just himself now, he meant of us...
Good bless us all, even Mr. Scrooge.. such a philanthropic caring heart. Oh and where is TOG now...? Watch he will show up now that someone posted... 5, 4, 3, 3, 2......
You honestly believe that the MM's are selling back and forth to each other...? Really? Think about it. They do not make money unless the price moves up AND RETAIL BUYS IT.... To sit their and think that this is not dilution is pure idiocracy.
This is dilution - this is how it is done on the OTC, they will not come out and say we are offering, they just do it. And then IF they report, they report it in their 10K.... oh wait, what is 30 days late now? 30 more days of dilution down!!!
"The name of the game is to make money though and those who are being successful at it are the winners right now "
Oh you mean the company as they dilute the shares... they seem to be the ones winning. Those who are calling "average down" are just throwing more money into the fire. Hey why don't we all average down again to .0001, and hope that eventually we can all double the money at .0002?
Here are my thoughts for what its worth....
Chris has an incredible company but needed a little more than just "his existing shop". He partners with TIm and MCGI to bring the company full blown investment and IPO, without all the added costs of running an IPO. I have never run an IPO so I cannot truly speak to those costs. BUT for whatever reason this was the course that was taken. In the process Chris / 4LESS has paid off debt for MCGI. Post merger / Post RS and Post Name change, the logistics, the daily operations, and parts shipping / receiving, customer service, etc is handled by Chris. Tim, on the other hand, runs the finances. Tim is the one supposedly making sure the 10K gets pushed out in timely manner, Tim is the one who should be taking care of the shareholders and handling the PR. This is business as usual for Tim. MCGI never filed any docs, they ran the stock into the ground and the dilution was horrible. This is business as usual for Tim. He does not care about the great business that Chris has created.
My thoughts - the products are good, Chris has a niche company and he can succeed, he just needs to drop a partner and find a new one....
Have a great weekend!
I know that my opinion is very different than those here, but that does not mean I do not respect you and your decision to do what you choose with your funds! We are all trying to do the same thing, make some money and support a new company. However, as times panned out we see things differently. I honestly was hoping the 10K would be this morning. I am very frustrated that it did not happen. With all of our (my) differences, I am heading out for the long weekend to honor lost friends and family who have served to give us the right to own and respect our opinions! I hope the best for you all in this and truly wish you a safe holiday weekend!
OOO - RAH! Semper Fi!
Thank you - but no I do not know it all.. But I know dropping 5K on a .38 price and expecting it to go to .30 is about as dumb F' as an idea that there is....
What are the repercussions of them diluting the stock? Nothing. They can sit and sell shares all they want. That is why they have not released the 10K. They have to REPORT on the 10K that they have been diluting. Thats why we see delay after delay. When you realize this and the stock plummets to .0001 again and all your 5K , 10K that you threw at those .38-.42 is gone, then you will say it is the companies fault. But not now, emotion has the best of you.... think of all the money you could make if this just hits $1 now.... WOW ... those emotions!
Thank you sir! If you have been reading I did cut my losses. I have positioned myself to hold some more so that if, in the unlikely chance a 10K drops, and if in the unlikely chance there was no dilution, I may make it even. That is what investing is about, hedging your bets to best preserve your equity. Not dropping 5K on .38 to hope that it goes to .30.... that sir, is just asinine.
Like the millennials say, "Bro - do you even invest?"
So you are saying - you would pay $5K right now to buy shares at .38. And then not be worried that the stock price went to. 30? A loss of about 20% of your money? That is the emotion I am talking about, it tends to make illogical sense.
I am going to buy $5K worth stock just so it can go to $4.2K... yay for me!!!
LOL - that is beautiful. Spoken like a true emotional investor. OR A PAID PUMP!
When the stock is tanking and you are at a loss... keep buying, average down, average down til it hits zero and they will give it away for free. Well pre RS, we are well below zero.... but yeah keep moving money here. Buy more buy more!! Because thats all you can do now... that is the emotional investor.
Logic says - GTFO. This ship is sinking. I have sold down to what I am willing to really lose. I am at a major loss but my logic and NO EMOTION says to cut the losses and walk away.
Emotions have no place in investing!
That made my day! Thank you for someone else seeing the irony in BackStabbed saying -- Trust me.
EXACTLY - PR's are fluff and pumps, however, investors look at numbers. If a company can't produce numbers in a timely manner, then there is something wrong. Here we go again, they changed accountants. Well, they have had almost a month to do the financials. If you have ever been in business and kept accurate books, 3 weeks is more than enough time. They should have been out on the 15th. You can't tell me that on May 1, they did not know they were changing accountants. They should have planned for that all along and had all documents ready for the viewing. Thats what a respectable honest company would have done - because they are concerned for the shareholders. Tim and Chris could care less about the shareholders at this point...
I am not trying to pass the buck. I realize that others have posted about the dilution and from the share structure reported they have been wrong, albeit, there was 500K shares in question.
With that in mind - I really do hope I am wrong. I know that sounds bassackwards... but, there are a lot of people who have held for years on this and continue to do so. It would be horrible for a company to do this to its faithful shareholders. I have said from the beginning - there is no ABSOLUTE PROOF that this is dilution, it is my opinion though. My original post was only to let people know I would slowly let my shares go, I tried to do it slowly without a major effect on SP. It is all I can do to preserver my equity and to preserve others value. Its a fine line there......
I have been a lurker here on the board for about 8-10 months, I got into MCGI / FLES right after merger announcement. I have appreciated the information that you and others have provided. I respect that people "dislike" me at this point... but if this is going to "FLY" then I seriously think they should not be hating on me... I did just sell them 42K of cheap shares.
Again, I wish no one a loss here. I am in the process of holding the last 8.5K in hopes that this will increase value and I may possibly walk away with a break even or maybe very small profit. If not, I have preserved my equity and have moved on. I have learned over the years of trading - you win some and you lose some. It is all really "educated gambling".
I still wish the best for this - and all the shareholders (as I am still holding some).
GLTA.
Sorry - no offense, but that is not me. I have dwindled my bag down to 8.5K. These I will sit and hold "in hopes" that something good comes. I am at a loss here but I realized that when I started selling and tapering down.
As far as dumping shares and being respectful of the shareholders and longs, maybe take that up with Tim and Chris. I have been completely honest and upfront in the selling of my shares, and I was respectful. I could have done a major sell of my shares and drop the price, I did not. However, as others pointed out, my share sells would not have dropped price substantially for too long. If you are too blind to see that this is PURE DILUTION.... you should leave investing now. They drop a PR and the price jumps and walls go up... AND NO ONE IS SELLING. Who is selling the stock? Well it leaves one or two people with access to tons of it... oh yeah, Tim and Chris. Again, they dropped a PR to get SP up and then sell. Why not drop the highly anticipated 10K, get SP up, then drop PR's?
The writing is on the wall. In terms of pre RS we are below .0001. Hold tight to those shares though.
Good luck all.
or more dilution. Because why would anyone sell right now? this is the lowest right?
Sorry Oliver - yes new to posting here, but I am not new to investing in this company. I was here just after merger announced in 2018. I have held on through the ups and downs and the RS. I never really post on any forums or boards, but this stock has been so infuriating - it has broken me to succumb to posting and clarifying some points, as I am dumping shares.
I really hope for you and all the longs that the DUE this week, will be a reality for you! I am still in the process of letting go of shares, and if the 10K drops and we skyrocket, maybe I will recoup some of my losses.
To tell someone to shutup and just buy shares is no valid point in an argument, it shows the lack of understanding of technical analysis, fundamental trading, and understanding of what could possibly be happening. To discount and ignore what people are saying, with valid proof is just straight up asinine. Whether or not you believe their theory or not is your choice, but to throw a comment out there to shutup and buy, just shows how little research you have done and how you are counting on the "DATA" from other people on the internet.
I got it from the internet on a well informed stock board, it is going to the moon! Cause all opinions on the internet are true.... just might not be accurate!
To help support your argument... In reality, the FINS were DUE, May 1.
Can we say Excuses, Excuses, Excuses.... Let's hear it... they are a new company, they have new auditor, yadda yadda yadda...
I like how everyone says they are DUE by EOW, but they WERE DUE May 1....
hmmmm, what kind of sorcery is this?
There is a difference in the market when there is a demand for a stock. Your calculations do not take into consideration demand. Yes, I would agree the stock is way undervalued.... but realize there needs to be demand.
Let's see here... take Amazon for instance.
Current MC ~ $932 B
Stock Price $1858
Outstanding Shares ~ 502 M
And it is $7.02 EPS for Q1 2019.
From your calculations, Amazon is WAY overvalued. But would you sell your shares of Amazon because you believed it was going back to the $7.02 per share value.
The problem is you are not realizing that there needs to be demand. When the company does not fulfill its promises, nor does it instill faith in the shareholders, the perceived value of the stock declines. Just as the way Amazon has gone to over $1800 per share, and upwards of $2100-2200, it delivers (lol, literally) on its promises and instills faith in the shareholders. Hence the reason it is not $7.02 per share.
True - but I could say things about how Promises & Guarantees from posters and the company were more detrimental than my selling of 25K shares over about a weeks time. I believe the more detrimental issues are the promises never delivered on, the guarantees never delivered on and then add that to the constant daily manipulation.
I NEVER post and I like to say buy or sell to anyone... but this stock has completely infuriated me. I mainly posted the original comment to let people know I would be dumping my shares, the price would likely take a hit. However, I realized if I sold them slowly over time, it would not be as bad, and in the process I could try for daily highs as I let them go.
Best of luck TOG... here in an all your trades!
Why would I need to create a panic sell? The price is low AF already. If I wanted more shares I would just slap that ask like no tomorrow. I am not looking for a panic sell. In fact, I encourage people who feel that they want to hold -- to hold. If that is your strategy, stick with it. I neither judge those who are selling nor those who are holding. Its all about what you can tolerate. I, personally, have had enough. I can't tolerate what I view as manipulation. I will leave my other thoughts out ...
Anyway, best of luck to you, not just here but in all your trades!
cbrnlol -
I respect that you realize I may be making a mistake. It is quite possible I am making a mistake. However, I very rarely have been in a stock that is so manipulated and with a "new" company who has promised to deliver so much, but failed to deliver the basics. Had FLES delivered an announcement regarding partnership or anything else, this would be a hold for me, however, I see the market being manipulated and when the downtrend happens and a ton of stock dump into the market (whhile everyone claims they hold), something is amiss. I am slowly dumping my shares to hope I can reach the highs for the days, so if by Friday, I still have a small pocketful of them and the magical 10K drops - and this hits the moon, good for me. On the flip side of that, I really feel for those who have been here for a year or so, FLES has promised the SH incredible things and it would make sense to hold looking forward to the deadlines and dates. But I am trying to protect my equity in the manner I feel right. I am not asking anyone to sell. I just take the emotion out of this and realize a loss. I do hope this goes well for the long term holders, it is only fair. Thats how I live my life and that is how I feel I treat people and I hope you respect me in the same manner. But honestly - Everyone needs to decide their own exit strategy, for me, mine is now. For others, they may exit when it hits $2, others $15. I in no manner of speaking think my strategy is better or worse, it is what I have come up with.
To all the longs, years longs, and short longs... Best of luck. I will be putting my shares out over the next few days. Truly - best of luck to you in all your trades! God Bless!
I have dumped 50% of my 50,000 shares. I have 25,000 still left holding. I am watching this sink daily... what a cluster F. I have been looking at the daily trades and am amazed that the manipulation and the dilution that is happening here. One sign of dilution is when a drop happens and there is a spike on the volume of shares. If you look over the past months worth of daily drops, huge spikes in volume seem to happen at the same time. That is the company selling off more shares. And why wouldn't they? They have 20 BILLION authorized shares still. They can easily pull us along for weeks on end "planning and preparing" their 10K, and we will justify it by saying, "Well they got a new Accountant" or " This is a new company" ... Justify it and roll with it til it is back at .0001 again. At least one of the owners worked with crooked teams before and the same lead the investors on and take their money scheme is happening. I am slowly letting go my shares so I don't drop the price quickly.... I am taking a loss, I realize this, but I do hope for all your sakes, they do release the 10K this week and it is as good as anticipated. I have no more patience and want out before the next "We will post it in June 6" message comes out.
Good Luck Everyone - Best Wishes - I pray this works out well for you, I know many of you have a good chunk of money here and have been long time holders, pre RS and have held on.... personally, I think you deserve better!
I have been here lurking for a long time... I held through the RS and I have believed in the company. My problem now is that I feel like a dam fool. Emails have been posted stating "We will file the required doc in the timely manner" --- something of that nature. Really, 4LES, you have not. You are losing the faith of those who have been here early on, although quiet, I am just now pissed.... GLTA I hope this does not dilute back to .0001. There are a lot of good people here who have worked hard and earned their money. It would be shameful of FLES to screw them over in this process. I am salty, very salty. BUT I do hope FLES will work through whatever issues they have and help you all make a small bundle of money in the process. Again, GLTA, I am taking my loss and walking away. I will be slowly dumping my 50,000 shares over the next few days FYI.
Greetings! I have some option calls for Feb 2019 for a stock that just got moved from Nasdaq to OTCQX, curious as to what may happen to those calls? They were ITM.... and look to be getting better.