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And the upside of insider buying is (1) short term traders make some fast money for a day or two, and (2) there is close to a guarantee of material news coming in the foreseeable future so longer-term holders will profit in due course.
CEOs are rarely wrong when they invest their own money in companies that they manage. And, they don't have that many opportunities to (legally) take advantage of undervalued share prices.
It's been very active in the AH and is up to around $1.23
The CEO has added another 100,000 shares to his total, paying a little under $1.06
I guess if anyone knows what the true potential for this company is, it's the guy at the top.
Now, we'll have to wait a week or two to learn about the closure of the deals that might, possibly, have been part of the reason for this further investment. Maybe not, but I do know that CEOs do not shell out $106,000 in cash if they think the deal pipeline is going to be disappointing!
(apart from my original investment, that is)
.....what's gone?
How do we get this thing jump-started? The end is in sight.
Getting ready for its next move!
I had been looking forward to the "deep dive" into the 10-K:
"What the heck? Why did we do all these series? They're unbelievably complex! We simply hit the wall... we should not have, and should have had better control. But here we are - let's move on!"
Ladies & Gentlemen of the jury, the defense rests!
As you might expect, someone called "Oxonius" is likely to be a noted scholar of Latin language and texts.
So, you should know that the literal word-for-word translation of 'Water Is The New Gold' into 'Aqua Aurum Novum Est' is a complete catastrophe!
Crapola nonsensica!
Non-$en$ica, rather!
Good luck to you! In terms of basic DD, all you need to know is:
1. As the holder of our outstanding shares of Series C Preferred Stock, our chief executive officer, T. Riggs Eckelberry has 51% of the voting power of the Company’s shareholders. As a result, Mr. Eckelberry has the ability to control all matters submitted to shareholders, and his interests may differ from those of other shareholders. He takes $30,000 in salary every month and his interests definitely differ from all other shareholders
2. I suggest you review their actual financial statements (the most appalling I have ever seen) rather than the nonsense infomercials spewed out by the hustler - even if they did land some substantial business revenue, their history has shown that they lose more than $1 for every $1 they generate, so their operating model is fatally flawed
3. Their share count (and potential count) is a mystery - the 10-K reveals that there were 10x as many shares outstanding at 12/31/2020 than the year before (after a huge R/S just before) - the overhang of future conversions is absolutely massive. The 10-Q for Q1 will provide an interim update
4. A thousand dollars "invested" in this a few years back would now be worth less than a dime.
It is a little scandalous that taxpayers' money is being used to pay our leader's salary! Hopefully, it will be a good investment as he helps everyone through the exit door at, maybe, a buck a share.
The future of water is ... sewage?
Are we ready for ‘toilet to tap’ drinking water?
Your dog loves drinking out of the toilet, why shouldn’t you? Well, you actually can with some added filtration steps.
In an op-ed for Bloomberg, Vanderbilt professor Amanda Little pushes for the US to get on board with recycled sewage, sometimes called “toilet to tap.”
What the heck is ‘toilet to tap’?
It’s recycled wastewater from sources like showers, toilets, and dishwashers that undergoes a multistep filtration process. It’s both clean and safe to drink.
In fact, Orange County Water District Manager Mike Markus told CBS in 2015 that its Fountain Valley plant -- which treats 100m gallons a day -- was the cleanest in the entire state of drought-stricken California.
But people still don’t like it because of what psychologists call...
The Yuck Factor
Back in 1993, there was a plan to pump reclaimed water to drinking supplies in the San Gabriel Valley.
But it garnered enemies, including Miller Brewery, who had a nearby plant and worried consumers would be put off. The term “toilet to tap” actually originated during this squabble -- and the plan never happened.
Then in 2015, SoCal announced another recycled wastewater project, and people were still reluctant. Only this time, Jon Stewart mocked people who thought recycled water is gross.
This is the way
Little thinks recycled wastewater is the future. While some water-treatment plants work by taking salt out of ocean water, that’s over twice as expensive.
According to the professor, it’s time to expand infrastructure beyond California. There is a nicer term, btw: “showers to flowers.”
And as for beer? A Swedish brewery made a wastewater Pilsner...
Looks like a whole heap of nothing went on in Florida in the first quarter, other than, of course: << For the three months ended March 31, 2021, the Company incurred salary expenses for the Chief Executive Officer of the Company of $52,500 >>
Then, two interesting things at the back of the report:
<< On April 5, 2021, FPA received a loan (the “2021 PPP Loan”) from Cross River Bank. in the aggregate amount of $75,085, pursuant to the PPP under Division A, Title I of the CARES Act, which was enacted March 27, 2020. The 2021 PPP Loan, which was in the form of a promissory note dated April 5, 2021 issued by FPA, has a 60 month term and matures on April 5, 2026 and bears interest at a rate of 1.00% per annum, payable monthly commencing on April 5, 2022. The note may be prepaid by FPA at any time prior to maturity with no prepayment penalties. Funds from the PPP Loan may only be used for payroll costs, costs used to continue group health care benefits, mortgage payments, rent, utilities, and interest on other debt obligations. FPA intends to use the entire 2021 PPP Loan amount for qualifying expenses. Under the terms of the PPP, certain amounts of the 2021 PPP Loan may be forgiven if they are used for qualifying expenses as described in the CARES Act.
In April 2021, the Company entered into a purchase agreement to sell its CNC machining equipment for $275,000. The machining equipment was received in July 2017 and was used for the manufacture of customer specific projects along with the largest Voraxial and V-Inline Separators. The Company sold the equipment as the utilization of the CNC machining equipment for customer specific projects and the separation equipment decreased due to the Covid-19 pandemic. The Company can still manufacture the Voraxial and V-Inline Separators and manufacture customer specific projects with its current manufacturing equipment.
A couple of days ago I saw that Dr. Jack Hagarty has recently retired from the Board of Directors. After a full and successful career with SC Johnson, he gave over 20 years of his (first) retirement period to Pacific Sands and was probably directly involved in just about every formulation for every product they sold in that time.
In the context of environmentally safe product development, he was a scientific colossus and respected throughout the industry. Further he was always a loyal, dedicated and essentially decent professional.
I do not recall ever having seen an unflattering comment on Jack on this board (unlike for other leadership personnel past and present). So, on behalf of all shareholders, I would like to say:
1. Thank you, Jack, for your service to Pacific Sands
2. I wish you a long and happy (second) retirement
One of these days, when I visit the company, I hope to see your picture prominently displayed in the lobby!
I've never absolutely concluded that Glenn Beck is the most vile man in America, but I have to say that the association between him and our contender for the title is somewhat poetic.
Looks like a bit of tape painting, 20 seconds before 4:00
The grifter is promising his MOST IMPORTANT BRIEFING IN HISTORY tonight so someone thought it might be worth throwing away $45 to make it appear that there's some incredible momentum. Truly pathetic.
Get Ready! Round 3 on its way?
It seems to me that PFSD is in substantially better shape than WNBD. but thanks for the heads-up on Winning Brands who look like they have progressed incredibly fast (I saw that they were trading at $0.000001 a few months ago).
I definitely like their focus on "concentrated" approaches to cleaners as it combines safe ingredients with a broader sustainability concept that incorporates (1) minimizing the use of plastics, and (2) not transporting water unnecessarily.
I think that a lot of companies are rushing into this "concentrate" space and the category is getting interest from the younger demographic. As an example, one of my own kids, who saw them initially on Shark Tank, swears by the Blueland concentrate products.
...and the slow, steady accumulation continues.
Not sure what the end game is - $0.20 maybe?
Good job! The shorts are gonna destroy this!
Bloomberg is claiming that Shares Outstanding are 32.75 million.
Not sure how to validate this, but, if it's true, this thing could exceed a nickel in very short order
and a sweet $0.02 to end the day!
and some 19's
Took out some $0.0175's in a heartbeat
4+ million shares tells the tale - very strong into the close...
$0.025 not too far in the distance
All will be revealed. Strong accumulation today. I think it's one buyer hoovering up the lot.
The news about Bernie passing away in jail reminds me of my catchphrase:
LOCK HIM UP!!!
Might be time to change one of the disclaimer statements:
<< * There is not a hope in hell that Water On Demand, a program planned for the development of water projects, will be capitalized or successfully launched. >>
If you happen to wander the Kenosha streets after dark, take great care:
https://www.usatoday.com/story/news/nation/2021/04/13/jacob-blake-shooting-kenosha-police-officer-back-work/7212525002/
All fundraising activities are currently on hold at the company, as the management team takes time to mourn the passing of their mentor and inspiration, Bernie Madoff.
Per the (dismal) 10-K, this is "old" news:
In the fourth quarter of 2019 we shipped a wastewater system comprised of multiple V-Inline Separators to a utility company to separate solids and oil from their wastewater stream. Due to Covid-19, the installation of the system was delayed. The system, successfully commissioned in February 2021, is being used to process and separate oil and solids from a flow of about 100 gallons per minute.
<< Would have thought this would require a proper press release:
I am very proud of our EVTN team including our suppliers, especially Ferrous Manufacturing out of Buffalo, on the successful installation and commissioning of the V-Inline Wastewater System at a nuclear facility. The 100gpm wastewater system, designed to remove oil and solids, was chosen for its efficiency, small footprint and ability to operate with limited maintenance. The system, comprised of V-Inline Separators operating in parallel and in series and constructed out of stainless steel 2507, meets the stringent effluent requirements and seismic regulations. Pictures of the final installation to follow shortly. The V-Inline can be used in various applications for the removal of contaminants from water. >>
I don't think that they're going to be able to shake any shares loose until we get back to at least $0.0125
The accumulation is very patient.
Does anyone know what happens when you run out of letters for a new Preferred Stock series? As of yesterday we're at "U" so there are only five more letters left. Continue with "AA" maybe?
I have a pretty good idea as to the company, as does everyone else in the industry. Like the mobile deal they announced back in December, this is a very big win.
People seem to know this, as it hit $2.70 in the AH trading.
A summary of the final reverse merger details:
<< At the closing under the merger agreement, Brooklyn ImmunoTherapeutics LLC merged with a wholly owned subsidiary of NTN Buzztime and became a wholly owned subsidiary of NTN Buzztime, which changed its name to Brooklyn ImmunoTherapeutics, Inc. Immediately following the closing, the former members of Brooklyn ImmunoTherapeutics LLC collectively own approximately 96.25% of the outstanding common stock of Brooklyn and the stockholders of NTN Buzztime prior to the merger own the remaining 3.75% of Brooklyn’s outstanding common stock. Further, following the closing of the merger, there are approximately 41.5 million post-reverse split shares of common stock outstanding. >>
BTX now trading at around $4.15 so it's lost quite a bit of ground since the closing.
Well, it's been a POS for at least 20 years. They have squandered countless $millions of shareholder capital and have missed every boat that has launched in their space. And, the crooks that ran it into the ground end up with all the core sub-optimized assets essentially for free.
I am hopeful of some remediation from shareholder actions but unfortunately I don't think there will be any jailtime.
That was a pretty busy 8-k the other day as, what with the gifts & conversions & issuances etc., there's another 10-12 million shares kicking around which must bring us to around 100 million in total; but, really, who cares?
Weren't we at around 4 million after the last (massive) reverse split?
Anyway, by my calculations, the current enterprise value of the company is over valued by more than 1000%
I'll check in with Shelly Miscavige to see if she might be interested in investing.
... and now it's at exactly half that amount, and still overvalued
The key text in the PR:
Two proposals did not pass: (a) Proposal 4, to amend NTN's certificate of incorporation to grant voting rights to the holders of NTN's outstanding Series A convertible preferred stock on an as-converted to common stock basis, and (b) Proposal 6, to sell the assets relating to NTN's historic business to eGames.com Holding LLC.
Thank you
It clearly drove volume in the trading - 286 shares changed hands today so the buzz is building nicely!
There's a picture of the installation after the LinkedIn announcement.
Might be time to elevate his title from COO to CEO in his profile?