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If they're not a BrewBilt customer, then you're wrong!
A few more resources regarding the end of testnet and impending filecoin mainnet launch. The author of the 8/4 article states “September” for launch, but I have not corroborated. Previous estimated launch was between 7/20 and 8/20.
Bottom line up front: seems to be within a couple weeks of schedule, and there seems to be a ton of activity happening leading up to the launch.
1) Mainnet launch project schedule: https://app.instagantt.com/shared/s/1152992274307505/latest
2) 8/4 article on “incentivized testnet” : https://bitcoinexchangeguide.com/filecoin-to-begins-its-incentivized-testnet-this-week-ahead-of-project-launch-next-month/
3) Announcement about testing activities from Filecoin: https://filecoin.io/blog/getting-ready-testnet-incentives/
If you happen to bring a camera...
When I just googled “XLTD stock” half the results were for some type of RV manufactured by a company called Pleasure-Way. Looks nice — two twin beds and 4,220 lb. towing capacity.
Point being that, assuming we haven’t fallen for a major scam here (and I don’t believe we have), this ticker has A TON of opportunity to become more well-known as soon as ExCoin puts out any more press, disclosures, etc., using the new ticker.
This is my first rodeo with this type of stock (ticker change, crypto exchange, seemingly legit big board up-list potential), so I’m excited to keep my hands off and see where this lands in a few weeks or months. If there’s ever a chance to turn ~$500 into some RV money, this seems like it!
Ah that stinks, sorry. I was able to purchase this ticker through Schwab, so an account with them could be something to consider.
Many thanks and likewise. Happy trading!
I've got a *much* higher target for exit than yourself, but lol'd at the "reporting more than PGAS" quip - thx for the chuckle!
You've got to be comfortable with your positions, and if not, got to get out. I respect your transparency there.
My expectations differed from yours in that I did expect the O/S update to be north of a billion based on all of the convertible notes listed in the last Q. Given that there was still some apparent dilution earlier today, I don't think we were done as of yesterday, but very close. Assuming full conversion of notes due works out to 1.4-1.5b total O/S, 1.2b is actually somewhat of a success. My hunch is that some repurchasing occurred in the weeks leading up to yesterday, and that more has happened today/will continue. If I'm BBRW mgmt, want to repurchase as many shares as possible prior to updating the O/S in the Q2 10-Q (expected by 8/15).
One nuance to point out, is that (as OC pointed out to me) the buyback target was stated as 75% of the float, not total O/S. That makes it more realistic, but of course we also don't know what the float is.
Hope you can find a good point where you're comfortable re-entering!
Correct me if I'm wrong, but I don't recall them showing the restricted vs un-restricted breakdown in past updates.
Regardless, I think if they were to do as you suggested (savvy thing to look for, btw), that would run afoul of the safe harbor provision regarding share buybacks, since they would de facto be updating the public in a forum other than a filed disclosure. I am speculating a bit though, so just one man's opinion.
Almost 205m volume. $745k dollar value. This time feels different, and I suspect that we will rise more slowly but with more sustained gains compared to the spike a couple weeks ago. Everyone's recalibrated to the new O/S, now it's just the march toward Q2 earnings.
5.6m share purchase at .0044 (non t-trade, it seems). Fasten up for a fun afternoon!
What's with all the trades of 9,999 shares? I know the opinion is that MM signal sending is an OTC wives' tail. This just folks trying to scrape under the ask for 10k shares? What a weird day.
t-trades occur during trading hours but are most often reported shortly after close.
Short answer is I don't know. Longer answer is I suspect that these 25m shares were from convertible notes, i.e., dilution. Doesn't change anything for my game plan right now, but certainly seems to have taken the wind out of the sails of that fledgling reversal.
Two t-trade sells totaling 25 mil shares hit right after my last post. Let's see what happens next. Insane volume.
As of 11:29 AM EST
shares bought: 67.4 mil
shares sold: 65.5 mil
Heck yeah buddy!
I know we've got a lot of buyback skeptics here, but per SEC Rule 10B-18, a company can repurchase up to 25% of the daily traded volume. The volume we are seeing, and have seen last couple weeks, has presented a huge opportunity for BBRW to scoop shares, in many instances at pretty low PPS.
In a way, the negative reactions to *every* PR they release is a blessing. Great volume while driving down price to maximize buyback effectiveness.
T-trade purchases most afternoons, confirmed deliveries of clients identified in past PRs, etc etc. Nothing's ever a sure thing in investing, but I continue to like BrewBilt and have high hopes for the future!
Now over 127 mil volume today; not even lunchtime. Buy volume is close to pulling even with sale volume, whereas earlier this morning the breakdown was >75% sales.
Won't opine on whether a reversal is imminent but worth noting that there are a lot of people/entities besides OC doing some major buying today.
New PR from the company. It's more of an update on Filecoin, specifically it's authorization/successful testing by major crypto trading exchanges. The quote about Gemini, the Winklevoss twins' platform, only supporting five other crypto currencies and now adding Filecoin seems promising.
https://markets.businessinsider.com/news/stocks/qebr-management-discusses-authorization-by-major-crypto-trading-exchanges-to-offer-filecoin-1029467612
flaflyers fan, I disagree that the 1.509b shares to pay off notes was based off of a higher PPS.
Just went back to check and the 10-Q specifically states that the 1.509b is as of 3/31/20. Closing price on 3/31/20: $.0030.
Good way of looking at it.
Thanks for those responses. I understand where you are coming from here and don’t doubt there being some pumping happening, whether with or without the company’s involvement/knowledge.
For now I’ve drawn a different conclusion on our central question of whether these guys are for real; I personally blame a lot of their perceived issues as rookie mistakes regarding IR and running a public co, which are fixable with some learning curve usually. Appreciate you taking the time to lay out your thoughts — enjoy the rest of your night.
Interesting, thanks for sharing that tidbit. Could you please elaborate on the message(s) saying you were right about dilution? I guess my view is that the perfect storm of expansion phase/Covid makes dilution feel pretty inevitable in circumstances like those BBRW has had in 2020. If there were info about dilution for nefarious purposes, obviously that could make me feel differently.
I like where your head’s at but I was operating under the assumption that they must file their Q2 10-Q by 8/15/20 absent an extension, since the report filed 6/30 was for Q1. So I think we’re looking at an update sooner but let me know if I’m missing something. I’d be excited to get an update that soon, O/S but honestly moreso on revenue (and the overall ops side). Based on what we’re seeing in pipeline/recent deliveries, I expect the aggregate of Q2/Q3 revenue to be quite healthy.
You’re right, I stand corrected, that PR specified 75% of float and not O/S.
New O/S out, 1.205b. Higher than last one but I also am honestly OK with it and it's materially consistent with what my expectations were. We learned in the last 10-q (Q1 2020) that BBRW had a significant derivative liability in the form of convertible promissory notes yet to be converted, which I interpreted as having been necessary to fund working capital during a time of both business growth and the start of the pandemic -- not ideal, but seems like the right decision. As such, there were always going to be new shares hitting these past few weeks, and the scoreboard as of right now is saying it's not as bad as it could have been.
Based on my (rough) math, taking into account all convertible notes listed in the last 10-q with due dates that had passed as of 3/31-Q, there were another ~925m shares yet to convert as of the last O/S update. (See note #4 in the post to which I'm responding.) Plus the 509m O/S at that time = 1.434b shares O/S. We do not yet know how many shares converted from notes (or that may have been issued by BBRW/converted from pref shares), but there are two explanations (not mutually exclusive) in my mind as to why the O/S in 1.2b and not 1.4b+:
1) Share repurchase has, in fact, commenced. Based on average prices (absent the spike) over the past 2-4 weeks and the volume caps within which BBRW would need to operate, 200-300m shares repurchased is quite realistic.
2) BrewBilt has repurchased, repaid, or otherwise retired certain convertible notes that were past due, precluding their conversion into common shares.
I'll be honest, the strangest thing about BBRW for me has been the PPS spike (now retreated) over the last couple of weeks, since it happened with seemingly no catalyst (I understand there were technical indicators, but I lean fundamental). Besides demonstrating that there are still plenty of investors interested in BBRW, this O/S update changes nothing for me; had it been 1.5 or 2b, it would have. From here, assuming the O/S stays relatively flat or even can be reduced further, it's a matter of BBRW executing and not getting shut down due to covid. I continue to think that these guys can reach an enterprise value of $15-25m by virtue of releasing one good 10-q, meaning additional untapped upside beyond that, and everyone here can do that math with 1.2b O/S.
Anyhow, we shall see. Q2 and Q3 revenue and the avoidance of significant additional dilution will really make or break the rest of 2020.
Figured that's what you meant. I recall it being at about midnight (eastern) last time. I'll be refreshing otcmarkets.com right alongside you...
Best I can figure this was a one-two punch that has kept PGAS, thus far, down on the mat.
1) 2nd half, March 2020: PPS fell off a cliff along with most other companies, particularly those focused on fossil fuels.
2) Underlying business conditions, primarily the deterioration of crude prices, continue to depress PPS significantly.
2b) As certain underlying business conditions continue, they have negative ramifications for the company. Per the Q1 10-Q, PGAS amended its security purchase agreement for Petrogress Africa Limited (majority owned by Traios, the CEO) and as a result returned the 72% interest previously held by PGAS back to Traios -- I presume, but do not know, this was due to lack of available capital. During this same time frame, presumably due to the conversion of convertible promissory notes, the O/S has increased materially:
3/31/20: 4.4M
5/12/20: 5.2M
6/26/20: 7.1M
7/15/20: 10.1M
7/21/20: 11.7M
I, and I think others here, too, believe that the market has penalized PGAS too harshly for the above. Given the circumstances happening in the world and industry, I understand the need to raise capital through means that can result in dilution and it does appear to be tapering. In addition, we are all aware of the recent expansions in Egypt and Greece; I like both of those in terms of business prospects, but moreso the message it sends about corporate health. That said, I do wonder if some of the necessary capital was funded through the notes and/or new share issuance.
Always appreciate any thoughts or corrections that other posters here may want to share. For the avoidance of any confusion about my conclusions, I remain long on PGAS, currently holding ~60k shares at a little over $0.03, and (absent new, negative information) expect to be comfortably profitable when I cash out here, whenever that may be.
Updated O/S should be out tonight. Today’s buys got me to 1.2 mil shares and I don’t plan to sell any for quite a while. Happy to see some other longs here, will be a crazy next couple weeks
Thanks, makes sense.
Couple other questions if you don’t mind:
1) Is there any more information you’re aware of regarding CEMC, BEGI’s wholly-owned subsidiary? My understanding is that, as BEGI/CEMC invest in other company through joint ventures, the JVs would show up on BEGI’s financials. Is that the correct way to look at things structurally? Any more details on their ideal target companies, besides just DLT-related?
2) Can you please explain (at a high level) what to expect if BEGI can complete the BDTP, BlackStar Digital Trading Platform? Is the goal to compete with existing crypto trading platforms? Certainly technically feasible, but just wonder if they are investing enough to differentiate their product from other options crypto traders have.
Really like the S/S and other things about the company here, just trying to better understand the underlying business opportunity. Thanks.
OC/everyone, do you have any pics of a BBRW CBD extraction system? Just trying to know what to look for in some of the social media stuff we're seeing.
Thanks for sharing! This is a treasure trove — looks like they had at least 7-8 fermenters/tanks in progress in May and a hot liquor tank earlier in the year, and I really just started digging. This makes me feel very optimistic about revenue for Q2 and beyond.
Hopefully people start waking up to the the possibility that BrewBilt was telling the truth in their PRs. My 1.2 mil shares are my vote of confidence!
Question on the O/S, sorry if this was already covered and I missed it.
Per BEGI’s Q1 10-q, ~53 mil O/S as of 6/20/20. Per otcmarkets.com, ~60 mil O/S as of 7/2/20. So +7 mil shares in around two weeks.
The O/S is still attractive, I just can’t tell where the new shares came from (and, therefore, whether to be concerned about more dilution). Per the last Q, if my math is right, convertible debt outstanding amounted to around 1 mil shares.
My suspicion is that the new shares came from parent company IHG’s conversion of preferred shares. As of the last Q, IHG held 1 mil shares of pref stock convertible to common at 1:100.
I could be way off here but just curious to hear some other perspectives on what’s happening.
Seems pretty likely that job with Ronin will be recorded as Q2 revenue if they were working on it on 3/29 and obviously it didn’t get counted in Q1. Gives additional credence to BBRW’s previous statements about jobs on the floor in Q1.
As a side note, the brew house that they built for Ronin looks really amazing!
Do people have strong opinions about RSSV’s Admall business? I’ve heard that discussed much less than the Teishan oil, the Wandi coal project, and 99H/99T.
Admall seems less consequential than those other holdings, but being focused on online sales of consumer/health goods provides revenue diversification into a sector that (I think) is less impacted by commodity prices than the energy sector, which is a nice attribute.
RSSV is a very cool company and I’m excited to see where this goes.
They're one good 10-Q away, IMO. If they can demonstrate run rate revenue of a couple mil per quarter, they're already 4-5x beyond their previous best year, top line. That's much more conservative than the company's projections, but those projections aren't baked into PPS now because the company's credibility is low and because Q1 revenue was terrible.
When/if that good 10-Q comes is obviously a subject of debate -- did enough orders get completed in Q2, do they have enough tradesmen on the floor, etc etc. But I see it being very possible for PPS to rise (significantly) if BBRW can demonstrate, through SEC-filed information, living up to the potential that started attracting people en masse earlier this year. Let's hope they have what it takes!
Added some more as well, just wish I'd had more dry powder today. Crazy to me how tilted the trades are toward sales. With this S/S structure some new issuance isn't terrible at this level, but perhaps it could be from another source. Just doesn't feel like retail traders would be selling at these prices today.
For those of you better-versed in oil and maritime, what's your opinion of PGAS's operating expenses? The chat on twitter is about opex being high (although that's really the only negative I've read there). Thanks.
Plenty of buying happening too, even if it's not lining up exactly with some larger sales. 785k, 260k, 300k, 175k, and 200k share sales in the last ~45 minutes. There have also been a bunch of 100k trades throughout the day, and it's still a net-buy day.
Interesting to see volume be down quite a bit over previous few days (although still above 30-day average) and have the price consistently be green two hours to close, even if not as high as earlier. Good signs IMO that this is starting to behave more like a real stock and is positioned for steady growth as (I hope) we see good news coming with O/S updates, Q2/3 earnings, and more public identification of customers. Can't overstate how important it is for the public to know some specific breweries that have purchased BBRW equipment recently -- I could give a sh*t if it's recorded as revenue in Q1/2/3/4, as long as customers are buying from BrewBilt!
Hope you're right! Meanwhile, another 1.285m share sale just hit. Let's see if we get some big afternoon purchasing.
Not sure about anyone else, but it feels like we're going to have to wait until Monday night (I think around midnight) for an O/S update, as BBRW appears to be on a cycle where their transfer agent updates at the end of the first business day of the month. But others please correct me if I'm mistaken there.
Nice rebound, at least so far. I sold a little early, .1193, this most recent round. Got back in for a small stake a little over .09 today. I'm honestly torn because I like seeing green but I too expected a further drop (hence the small stake) and would like to grab more. This is now round 3 with ABML for me.
As an aside, I understand and generally agree with what other posters have said about 12 acres being appropriately sized for a pilot plant, delays being customary in construction, etc. But I'm still stuck on not knowing much about the terms of the deal with Just Business, and the implications of the pivot to recycling. For instance, divestiture of mining interests forthcoming? Maybe not, because I understood that part of ABML's pitch about being better for the world was lower-impact/restorative mining practices.
All said, I remain intrigued by these guys long term. In order to start really loading up again, I'm waiting on .07s or low .08s -- I'm not as patient nor surgical as the peeps waiting for .05!
Let's watch for a second big block buy today.
Following the 1.39m share sale at 10:23am there was a 1.39m buy at 11:08am.
There was another sale of 1.44m shares at 11:12am. Would be interesting to see another similar-sized buy. Would be even more interesting if there's another block sale a few minutes after. I could be grasping here, but always interesting trying to see the patterns of market participants.
ehihub asked about the cliff notes of buyback mechanics. I'm the wrong person to give that answer, but my hunch is that the agent executing instructions from a client company utilizes an algorithmic system that executes purchases in response to sales, new shares hitting the market, etc.