Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Are you talking about fleecing investors?? If so then yes, Brian and George are doing it exactly the right way.
Investors are so married to the stock that they've restated their vows to hold for better or worse until death do they part. They're averaging down in a crazed euphoria which can only be driven by a plummeting stock. They vow to hold for years and they will. They make excuses for the falling stock and tell themselves that Rome wasn't built in a day and convince themselves that they're holding the next Amazon stock.
I don't know how many times I've seen the exact same scenario in penny stock after penny stock. Crazed investors start gobbling up all they can afford and then start reaching between the couch cushions to find more change to throw at their darling crap stock. Meanwhile insiders serve them helping after helping of newly printed shares.
57M shares traded so far today. That's a number which HMBL hasn't seen in a while.
We should ask George if HMBL at $0.25 is a bargain. Let's give him the option to trade in his current $0.20 strike warrants for twice as many $0.20 strike warrants but which can't be exercised until one year from now. Let's see if he takes that deal.
Are you sure? I'm almost certain that a person can't short to flatten out a restricted stock position. Maybe I'm wrong.
Or in George's case, if he's short then he has complete upside protection as well. He doesn't necessarily have to exercise many of his warrants.
It would have been illegal for George to short before his shares were registered but now Brian appears to be giving consent for tens of millions of shares to become unrestricted via 144 and I'm sure some of those are George's.
If you have a beef with something said, point out specifically what it is so the person can address it. Complaining about some vague falsehood doesn't help anyone.
Best I can tell, you were asking for proof of George's inner thoughts, suggesting his thoughts might be different from his financial incentives and the actions he's taking.
That $0.035 above the warrants $0.20 strike is much skinnier now than it was just last week. Maybe George and Louis are backing off dumping or maybe investors are buying more, thinking that George and Louis are backing off dumping.
There's a good chance that HMBL will stay around this price for a while and then drift lower. A lower price and the incentive for George's warrants vanishes but many more anxious shareholders are now holding more shares. Higher price and the incentive increases for George to exercise warrants and sell to drive it back down.
The alternative would be that George actually hates money and doesn't want anyone to load up with shares. I'll have to strongly side with TenKay on this one.
I think it's too obvious and I'm not sure what proof you would want to see anyway.
There is no way in the world that George isn't dumping shares or shorting the shares ahead of receipt. That's lunacy to even suggest he's going to receive the shares from the warrant exercises and somehow decide to just hold onto those shares.
If anything, if anyone believes the recent plummeting was due only to tax loss selling and that George hasn't disposed or offset his position, then they should be really worried for when he does receive the shares. He didn't exercise the warrants a year early and give up downside protection just to hold onto the shares.
There's not much downside. If all 250M warrants are exercised, Brian will have an extra $50M in the bank which he can use to pay himself.
I'm certain that neither George nor Brian want to see the contract voided. George is fine--he can simply short shares until he gets delivery and I'm sure he's doing just that.
Almost certainly George is short selling stock. He exercised the warrants because he wanted to sell, not because he wanted to freely give away downside protection. If he really didn't get the shares and since he's no longer restricted from short selling by Rule 144, he would absolutely be selling.
"Feel like a 8 year old kid on Christmas morning"...after the Grinch cleaned out the house??
Then Cindy-Lou Who turned to George and said, "Why are you stealing our money? Why?"
But you know that old George was so smart and so slick that he thought up a lie and he tweeted it quick. "I'm holding my shares dearly just the same and it's tax loss selling which is to blame."
Then he sent Cindy-Lou Who back to dreamland, dreaming of the vast fictitious profits which would never come.
By now both George and Louis are thinking to themselves that they need to back off the selling and let the stock recover before they hit shareholders with another round of heavy selling.
At the current price of just over $0.21, George's remaining warrants are only worth about $1.5M. That's a sharp (pun intended) drop from the $25M they would have been worth a couple of weeks ago.
Is this the low for a while now since George and Louis can't make any more money on the warrants below $0.20??
I'm trying to figure out what I said which you think is false. Can you be specific?
Even with the recent high trading volume, George and Louis are no where near done selling shares. We'll have to see where trading volume goes. If investors step up and absorb all of the new shares, maybe the stock will float around this level for a while. If the stock drops below the warrant exercise price of $0.20, George's and Louis' remaining outstanding warrants will likely put a cap on the stock at $0.20.
George Sharp tweeted, "For those with the ridiculous notion that Forwardly dumped its $HMBL stock, not only was it not dumped, the company hasn't even received it yet. This is my only word on the matter. If you are unhappy dump your stock. I don't care. #YearEndTaxSelling"
That means that George Sharp is exercising the warrants, otherwise he would have said that differently. The only reason to exercise warrants a year early is to sell the stock.
That also means that George is shorting shares in advance of getting the shares.
George put #YearEndTaxSelling at the end to try to throw people off the scent by offering a weak alternative reason for the drop.
You have to know how to read George-speak.
That's what I was wondering as well. As you said, at $0.20, George and Louis would have no incentive to exercise their warrants.
Yes, every penny stock is the next Apple or Microsoft. The delays are always because "Rome wasn't built in a day" or because the company is sacrificing profits to make their product even better than the shining gold medallion that it already is.
That's exactly right. Humbl's greatest asset is its shareholder base which stands ready and willing to put more and more money into the stock. If Humbl were ever to lose that resource, Brian would shut it down immediately.
Yes, I've seen a number of ways in other companies. Brian's salary as CEO might be $1 but he might have other roles where he's paying himself out of company funds. Consulting is a popular one.
Also Brian said he didn't sell a share. Was he talking about not selling series B shares as the flow of his grammar would indicate?? He didn't say he didn't convert and sell common. Maybe he's just bad at grammar.
Either way I agree with you. Money which investors invested into Humbl is finding its way into Brian's bank account in some way.
Brian, you say you only take $1 salary and say you haven't sold any shares.
So you've crossed out two ways to take money from Humbl but there are many, many other ways. Are you taking money from Humbl in any way, directly or indirectly? If not, are you living off your own savings or is someone else bankrolling your living expenses?
Who is posting false information about the series B?!
Brian Foote today tweeted:
1/4. The false information crews are out heavy today on social media regarding the #HUMBL Series B shares. Here are the facts:
2/4. HUMBL CEO, whose holdings represent roughly 43.5% of the total Series B shares, takes a $1 salary, has sold zero shares and has locked up all his Preferred B shares through December 31, 2022 at minimum. #HUMBL
3/4. HUMBL Co-Founders, who represent 14.6% of the total pool of Series B shares, have also sold zero shares and will sell no more than 1% of their holdings per quarter, if at all, through December 31, 2022. #HUMBL
4/4. HUMBL LLC early investors, employees, and service providers, who represent roughly 41.9% of the Series B, voted to impose strict conversion limits on themselves of 5% of their holdings in Dec ’21 / Jan ’22, and 3% in the following 18 months. #HUMBL
HMBL is staying steady at just over $0.28. Looks like there's a fight between George selling and investors buying. I feel George is losing because he's having so much money thrown at him that he's suffocating under that massive pile of cash. I don't know how much more he can take.
For the warrants which have a strike price of $0.20, there's only $0.075 left for George and Louis. I'm sure neither of them believes in the prospects of HMBL but it might be worth it for them to roll the dice and let the stock simmer a bit to hopefully get a higher price.
Will George and Louis let the stock recover a little so they can hit it again??
Time may not be on their side so they may want to fleece as many investors as fast as they can, especially if they're in competition with each other for shareholders' dollars.
$0.20 is only the bottom for George Sharp's and Louis Sapi's shares from exercising their warrants. The strike price on those warrants is $0.20. Below that there's no point in exercising.
George is still getting $0.09/share as HMBL is just above $0.29 and I'm sure George doesn't want to lose out on a few million dollars. Likewise at this price, Brian will have every incentive to consent to having the legends removed on George's and Louis' restricted shares as he gets the bulk of that money.
Yes, you're probably right. Maybe they made closer to $750k with Brian collecting about $1M from the warrant exercises.
With today's trading volume of 28M, I don't think it's unreasonable to guess that George and Louis sold 5M shares.
Only 5.8M new unrestricted shares today. Light day.
Except that 'sell' at the bottom is actually another 'buy' with shareholders telling themselves, "I've averaged down so much that if it goes back up only half-way to my first buy price, I'll be a millionaire!"
You would think shareholders would run out of cash to keep averaging down but my experience says otherwise. 'Cheapies' are like heroin for the shareholders who want to believe--they will always find the money to keep averaging down.
I'm going to estimate that George Sharp and/or Louis Sapi made around $2M in today's trading.
Is there a race condition where Sharp, Sapi and maybe a few of the series B holders are competing to sell their shares at the highest price possible before the price gets crushed too far??
I would say that given the volume of shares dumped onto the market today, probably by George, HMBL held up very well. It was only down 15%. People seem to be averaging down like crazy buying all of these 'cheapies'.
Selling for tax losses goes by the trade date, not the settlement date.
20M in trading volume so far today. Brian and George are doing it right by dumping quickly as the sharp movement attracts bargain hunters.
I don't think anyone is stealing anyone else's shares. In fact Brian and George are making copious shares available so there's plenty to go around for anyone who wants to buy.
It's always darkest before the dawn. Is this the point where HMBL finally gets a pop?? Although with that many new shares becoming free trading, that puts a damper on any potential pop.
I would like to add to my modest short position but I would rather do that at $1.35 than at $0.35.
Around $0.20, George won't have any more incentive to sell HMBL shares at "depreciated prices."
I get the impression that shareholders aren't as optimistic about Humbl as they used to be.