says, "Companies that trade on the OTCBB will require Cash/Cheque. "
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Plastic Monofills!
Some new pictures from the Tongal project on the website.
I'm struck by the gloominess. Check them out yourselves.
https://capstoneconnected.com/product/smart-mirror/
I'd guess the mirror doesn't photograph well in brightly lit environments. That's a short coming of the design/product.
I figure they have about 2 months of cash left to burn
Problem with the Connected Chef riding to the rescue is it's not going to be available before the cash runs out.
Connected Chef isn't on fcc.gov yet. That's the bottleneck stopping shipments. It's an 8 week boat ride from Thailand.
Without new financing, I figure Halloween is going to be really spooky for the company and its shareholders.
Potential topics for today's Zoom call
1) Debut Tongal media which showcases the new (as of 2020) mirror design. All the current media is photoshopped Max Borges media (to remove the LED lighting of the 2019 design), or photoshopped stock media that depicts mirror concepts in the home.
2) Explain why McClinton's contract ran out yesterday, and what happens going forward with the CFO/COO position.
3) Provide an update on the 'Coming Soon' Connected Chef cutting board.
4) Provide an outlook how the company intends to finance its cash burn through at least the end of the year.
5) Indicate how sales of the mirror are looking through 2/3rds of 3Q2022 - results to come out in mid-November.
1) seems certain. 2) and 3) seem highly likely. 4) is probable. 5) is doubtful.
On February 6, 2022, the Company entered into an Employment Agreement with James McClinton (Chief Financial Officer and Director), whereby Mr. McClinton will be paid $736.41 per day. The term of this new agreement began February 6, 2022 and ends August 30, 2022.
That's from the last 10K. Similar words are in the subsequent 10Qs. What happens on August 31? I guess we'll find out during the Zoom call.
He's the current CFO and COO.
My guess is he's retiring; it will be interesting to see who replaces him. He'll be staying on as a director I believe.
https://tongal.com/project/ThinCastSmartMirrorDigitalVideoSuite/#tab-brief
Maybe a day or two of excitement, but I don't see it affecting sales meaningfully.
Without meaningful sales of the mirror, CAPC has a serious problem.
They spent $10K in the 2nd quarter warehousing the mirrors, and made $9K in gross profits on the sale of mirrors. That's not good business.
I don't think it matters to common shareholders
If you look at the balance sheet, there isn't enough to cover debts, with or without the government money.
BK means wipeout for common shares. Anyway, I don't see anyone talking about BK.
In your Opinion then
Why is Wallach using the Covid excuse repeatedly?
Has the 'binary event' happened yet?
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000814926/000157570522000575/capc_2q22.htm
$19,907 Revenue. About $700K cash (1Q's worth, more or less).
That's about 20 mirrors sold, or 45 total since they became available.
August 15th, most likely.
Capstone hasn't pre-announced the date. They still haven't posted the transcript for 1Q2022 either.
Ask Nulixo. As soon as Covid permits, they're going to get back to normal
then, watch out!
Sunday July 17 2022 Let's make some predictions...
It's 4 weeks until 2Q2022 results get posted. Things have been pretty quiet. That's going to change, I think. In the next 6 weeks:
Over/under for 2Q2022 is 20 mirrors sold (what they sold in 1Q). I say: Under.
Inventory write down on the Mirror product. It's clear to me the carrying value for the mirrors is too high - it should be written down. The timing of the write down is the prediction: I say they take the write down in 2Q (June 30th quarter ending).
Why I say that is because of the third prediction: CFO McClinton is retiring after he files 2Q2022 for the company. They'll want to clear the books for the new CFO as a courtesy.
Another 122,002 Restricted shares became Unrestricted in June.
PIPE shares continue to dribble into the float. Still 1,360,497 shares to go.
Down 95% from the $3 peak
I'd say the manipulators have already gotten thoroughly charbroiled if they drank the kool-aid.
Well Done, Manipulators!
I did the math.
If you faithfully hit the faucet twice a day for a year, I think you can clear a dime's worth of PlusOneCoin.
It's costing you money to click. Good Job Clem!
The manipulators are free to start wash trading this again like in 2021.
It is considered fraud, though. Also, there's overhead sell pressure from the 1.48 million shares the PIPE lenders are still holding.
If it is indeed coming, it's going to be fun to watch. The PIPE holders will be cheering the manipulators on for sure!
That's Stewart's recounting of the events.
What they filed with the SEC contradicts that. They booked 5 mirror sales in 2021. Fact.
There are customer reviews on Amazon and capstoneconnected.com from December 2021 and January 2022.
Fact.
Maybe you should be asking why Stewart re-wrote history.
Also, compare the 'half the inventory was damaged' (100 out of 200?) with what he said about 6 weeks later in the 1Q2022 conference call: '175 were lost/damaged' (actual wording will be found in the transcript, if they ever get around to filing it).
Stewart Wallach, Captone’s CEO speaks live from the CES show floor…#CES2022 #capstoneconnected #capstonethincast pic.twitter.com/ojAhMKFqAX
— Capstone Companies, Inc. (@CAPC_Capstone) January 6, 2022
This was announced because they were finally shipped.
It was announced because the first mirrors were in Capstone's warehouse facility in California (they rent space and service there).
Amazon sales and capstoneconnected.com sales ship from that warehouse.
StrategicStocks mirror was Out for Delivery (as he posted) on Dec. 29th.
The mirror has been selling on Amazon since December.
Don't let Stewart dissuade you from the facts. He likes to re-do history. A quick read through the conference call transcripts can show you that.
Speaking of transcripts, where is the 1Q2022 transcript? It was supposed to be posted on capstonecompaniesinc.com, and an 8-K/A issued after the fact.
Silence from Capstone.
FINRA updates Short Interest twice monthly
OTCMarkets publishes the data on their site. It's easy to verify.
https://www.otcmarkets.com/stock/CAPC/quote
The facts contradict your assertion.
CAPC sold 2.5 million shares in April 2021, to raise 1.5 million dollars, to support the inventory build for the Smart Mirror product.
About 1.5 million of those shares are still waiting in PIPE investors' hands. They continue to dribble into the float every month.
Short Squeeze??!?!?! There are 46 shares short at the last report.
46 shares out of 49,643,031 OS. That's your squeeze target? LMAO WTFBBQ ROFLCOPTER.
PIPE Investors are Pissed.
Still stuck with 1.48 million shares at 60 cents.
Company has posted 25 mirror sales over 4 months. It's not a good situation. CAPC borrowing to stay afloat, over 1.6 million in debt, and that's not enough to get through 2022.
They raised money to build 3200 mirrors, then they said 2200 mirrors, then they said they have $1.4 million of retail inventory (1400 mirrors). What the heck happened?
I estimate the break even sales number for CAPC is around 2300~2500 mirrors/quarter.
That's not happening, clearly. More debt/dilution on the way.
46 shares short at last count.
Gonna be a helluva squeeze!
Anything under $5 is a gift.
Generational Wealth!
Got Tequila?
You're gonna need it.
$1.00 per share would give CAPC a P/S ratio of 72.
Even today's 17 cents make CAPC's P/S = 12.3.
Got any companies with similar P/S ratios you could compare with CAPC?
Average P/S in the Russell 2000 = 1.04.
Maybe they'll start selling more than 20 mirrors per quarter, and that excitement will drive the price? In 2017, CAPC had revenue of $36.7 million dollars. The P/S ratio ranged between 0.32 to 0.94.
Your only hope here for a rising share price is continued manipulation like what took place in 2021. Manipulators will have to distract from the sobering fact that the Smart Mirror is a failed product. CAPC has a history of failed products, when they try to step outside their core competency of battery operated LED lighting.
Today's Volume, 782 shares.
34.5K would take 44 days to clear at today's volume.
Still 1.48 million shares held by the PIPE investors. At 34.5K per month, PIPE investors should be done dribbling into the float in 43 months.
Weeeeeeee!
Another 34.5K shares made the jump from Restricted to Unrestricted in May.
The PIPE shares continue to dribble into the float. Investors still holding 1.48 million shares (out of the original 2.5 million).
Is this the week they refile their 1Q2022 10Q to correct the number of Mirrors sold?
From 20 to 2000? Maybe they just missed a decimal point?
Oh, yeah, there were excuses why only 20 were sold. What do you think the excuses will be for 2Q2022? Dog ate the UPS labels?
2Q is 2/3rds over. Why didn't Stewart take the opportunity to characterize 2Q sales at all? Do you think they've sold 'lots'?
Tech has a shelf life, kind of like bread. CAPC's mirror is day old bread. Old phone processor, old Android version.
Has your mirror gotten any over the air updates for security, or even new features?
Happy Memorial Day!
150%!!
If ya can't sell em, give em away for <nudge> <wink> unbiased Reviews!
Looks like the company shipped out some more promotional mirrors for Review
3 more reviews on the Capstone site today! (After a 4 month lull in the action). That brings us to 7 total reviews on the site...
Woot!
If they're just getting dusty in the warehouse, might as well ship some out for positive reviews; that's just Good Marketing!
Oldest 2 Reviews are labelled Verified Buyer. Newest 5, including today's 3 Reviews say Verified Reviewer.