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I can't understand the $0.08 thing.. Seems like a bad deal, and it looks like that price was above the market price at the time. Is there something I'm missing on that one?
"During April 2020, a related party convertible note holder elected to convert $100,000 of note principal into 1,250,000 shares of the Company’s common stock at $0.08 per share."
A few shares have traded at $11.00 the last couple of days.
Anyone planning on selling their 100 share for that price? $1100?
I've been clear that I might consider a sale, but that price seems a little low. Based on the math in this post I replied to, there were unlimited bids at $33, and despite whether you like or dislike this company, I've only seen good news since the R/S(filings current, attorney letter) and don't think it should be any lower than it was when that news came out.
On the negative side, I don't think we'll see any short squeeze. While no one here can sell shares, there appear to be shares out there to buy, so it doesn't seem that there will be a rush to cover.
"probably another 10,000,000 shares in March"
Glad you agree that we are profitable since that's what was required for him to get these 10,000,000 shares. I think this board has turned you bullish!!!
It may be another week or two. No one has them yet.
That said ( see my post a few back) you can go out there and buy the new shares now. Not quite sure how the market makers have them, but they're out there!
Very cool!
Are those shares you have from way back when still restricted? I'm curious so I'll read anything about your history or perspective if you're willing to share!
So... fun story.
I was on my Schwab account today and BRKKD was trading. $11 bid, $11 ask. One share was on each.
As I posted earlier, based on trades before the R/S, $33 should be the minimum value, so I decided to buy the one share out there. Limit order didn't fill, so I just did a market order for 1 share. It filled at.... $100. I talked to Schwab and said their ask was off. I only had $18 in the account at the time, and it shouldn't have even let me place the trade if the $11 ask wasn't there.
They busted the trade for me, but the takeaways are:
1. BRKKD can be traded today.
2. That $11-$100 spread is real. It should be somewhere in the middle when we all actually get our shares.
3. Much as we might not love MMs, was nice of them to let this one cancel.
I was kind of curious to see what would happen. This was a fun experiment, and glad it didn't cost anything!
None of that is a red flag to me. We have a legit CEO, legit business, legit tech/patents, legit funding, legit land, legit facility, etc.. I just don't know what more you could ask for.
I actually agree with you on the pricing.. I think it will amble along for a while until some enthusiasm gets built as we approach the end of the summer … Maybe teens, maybe 20's.. who knows? But that's just the nature of the OTC.
I don't see this as a red flag about the company at all, and in fact, nothing in the report was a red flag. The delay is nothing they can control and while I'm not thrilled about it, I also don't see anything they could or should have done differently.
I see it as a buying opportunity.
congrats sir.
I hope to join you picking up more shares this summer.
You probably picked a good time with the filing yesterday because volume was a little higher than normal.. If I do come into some money, I'll probably try to spread it around and not buy more than .5-1 mil in a day. We'll see if I have the patience for that!
I mean... I wouldn't be shocked at a little 'weakness' in pricing through the summer... but weakness with the company? NO.. It's important to distinguish. Other than the normal red tape, I see no long-term issues with this company.
Weakness and delay are two different things...
I see delay. I do not see weakness. Everything else here is about as ideal as it gets in my opinion.
I am planning to hold my shares.
Furthermore, I'm hoping to see some dips over the summer and will take advantage of them. 4 months is forever in OTC land and the lack of patience will bring some buying opportunities.
I'm not thrilled about the delay, but trying to see the plus side which is that I imagine there will be a chance to add cheap shares.
Good luck all!
"The number of issued and outstanding shares of common stock of the issuer, as confirmed by the issuer's transfer agent as of 5-19-20, is 8,331."
So, my take on this is that we had just under 3 billion shares before the split. A normal 1,000,000-1 would have resulted in about 3,000 shares. Because of the 'min 100' feature, which is 'dilutive' in a sense, there were about 3x as many shares issued as otherwise would have been, 8,331.
Because of that, my rough calculations would have each share worth about what 333,000 would have been before the R/S, rather than a million.
Shares were trading at $0.0001-$0.0002 at the end (although they'd jumped somewhat) so at a baseline I'd say (333,000X$0.0001)$33.00 is a very low point based on where they were before, and $33-$66 would be an opening range in conservative evaluation.
THAT said.. None of this incorporates the news that we are current, that we've paid off all debt, and it doesn't factor in that we traded as high as $0.0008 when this R/S was announced.
8,331 shares at $33 gives a market cap of $277,000.00 so I think that's fair as a low starting point, but let's remember that there was almost unlimited demand for shares at that price, so I don't see any reason that shouldn't continue in the new structure. Because of the aforementioned good news, it seems that baseline could move up pretty easily. All of this could change if new shares are issued, if a settlement is reached/paid, if patents are issued, etc. Just taking an initial stab at where shares would trade!
Awesome! Thank you for posting!
This is exciting, and I'm glad all this is coming before shares hit the market
Whatever price you bought your current shares at is higher than it's trading now so, the buy low sell high mantra is clearly agreed upon by everyone.. but easier to say than do.
There are companies I like long-term and companies I don't. All other things being equal, I'd prefer to do short-term flips on companies I wouldn't mind holding in the longer-term. That's all I was saying, and I imagine you'd agree.
This is the only part that really stood out to me.. Frankly, a little disappointing. Long-term prospects are as good as ever, but it just means waiting a few more months. I have no concerns about the accumulated deficit or anything like that. We have the bonds and it will get funded....
I guess I'll just see the delay as a chance to buy more late summer/early fall. Not to be neg, but I don't see a jump to pennies just yet since we're officially delayed now.
Load up and good luck!
Ugggh:
"We are currently estimating a commence of operations in late summer to early fall of 2020 at MedRecycler-RI, Inc.’s West Warwick, Rhode Island facility."
Good:
"On January 29, 2020, MedRecycler-RI, Inc., a subsidiary of the Company entered into a second amendment to the Indenture of Trust with UMB Bank, extending the term of the two (2) bond’s representing bridge financing for the Rhode Island medical waste to energy project for a period of up to one year. The extension of the bonds shall accrue interest, including a capitalized extension fee of five (5%) percent, at twelve (12%) per annum. The bonds are intended to be paid and extinguished from proceeds from permanent financing. "
No wonder there were so many shares available for so long.. Look how cheaply they were able to add. Glad this is done!
On or about October 2, 2019, we issued 24,200,000 shares of common stock to one entity pursuant to the conversion of a certain convertible debenture at a conversion price of $0.00009 per share of common stock.
On or about October 7, 2019, we issued 25,300,000 shares of common stock to one entity pursuant to the conversion of a certain convertible debenture at a conversion price of $0.00018 per share of common stock.
On or about October 8, 2019, we issued 26,500,000 shares of common stock to one entity pursuant to the conversion of a certain convertible debenture at a conversion price of $0.00018 per share of common stock.
On or about October 15, 2019, we issued 27,321,556 shares of common stock to one entity pursuant to the conversion of a certain convertible debenture at a conversion price of $0.00018 per share of common stock.
On or about November 19, 2019, we issued 29,805,700 shares of common stock to one entity pursuant to a cashless exercise of a warrant, with an exercise price of $0.00009 per share of common stock.
On or about December 12, 2019, we issued 31,293,000 shares of common stock to one entity pursuant to a cashless exercise of a warrant, with an exercise price of $0.00009 per share of common stock.
On or about December 19, 2019, we issued 32,854,600 shares of common stock to one entity pursuant to a cashless exercise of a warrant, with an exercise price of $0.00009 per share of common stock.
On or about December 26, 2019, we issued 34,494,000 shares of common stock to one entity pursuant to a cashless exercise of a warrant, with an exercise price of $0.00009 per share of common stock.
"The lease is for ten (10) years, commencing on March 1, 2019 for approximately $192,668.00 per annum, increasing annual at a rate of five percent (5%). The space leased is approximately 48,000 square feet."
If they delay approval, do we get any of this money back? :) :)
"Although we anticipate, assuming the long-term financing is secured, the Rhode Island Project may be fully operational as early as the first quarter of 2020, but, at this time, that schedule could slip as a result of delays in closing on long-term financing"
When was this written??? LOL
"The number of shares of the Registrant’s common stock, $0.0001 par value per share, outstanding as of May 12, 2020 was 966,501,700"
This is nice. We're not 'maxed out' on shares.. Close, but there are $60,000 worth that can be sold if needed!
10m at $0.0008.
Actually.. 10,023,600. The 23,600 are for messing around with. I might sell you a few of those tomorrow. Holding the rest for a while.
What does the tweet say? I'm not on the twitters.
Schwab update needed. "The Company has not generated any revenues"
Good afternoon! I remember this happened a few weeks ago and it was changed at TD I believe? What is the process to let Schwab know to change this?
Company Profile
Business Summary
PCT Ltd, formerly Bingham Canyon Corporation, is a shell company. The Company intends to seek, investigate, and, if warranted, acquire an interest in a business opportunity. The Company's acquisition of a business opportunity may be made by merger, exchange of stock, or otherwise. The Company does not have any operations. The Company has not generated any revenues.
I can't reply, but thanks in advance! :)
Yeah I'm excited about that part...
I guess I'm curious about the pre-trial part... We know they already had settlement talks a while back and that amounted to nothing. My guess is the pre-trial will be a little posturing but really no result.
I hope our guys get in and tell them a current day price tag, and then tell them it's $20M more or whatever if they wait more than a week. The more time this goes on, the more we're being infringed. They shouldn't even get to steal a day IMO!
Anyone have %numbers on how many cases are settled at pre-trial conference?
While this date is the next one to look forward to, it seems we're all thinking that the day before trial is when this settles, right?
I guess I don't know enough about pre-trial conferences to know what we're hoping for out of that.. We've already won with expert witness/testimony, Supreme Court, and all that, so I'm not even clear what more there is to discuss before trial.
Mostly glad to see that this virus hasn't derailed the process and the timeline seems to still be on track.
I wonder if we'll see filings before the split. That would be nice to be fully current. I know a lot of companies did the extension for 2019 annual and 2020 Q1 because of the virus, and I assume that's happening here?
Ideal scenario is that they get this all in and get some news out about the settlement before these shares get added to our accounts.
I mean, if it works it works, but wouldn't you feel more comfortable being long in a company where you believed in the long-term prospects?
It seems reasonable to note that your most recent buys were in fact not 'low' relative to the current price.
Anyway, I'm just saying that all other things being equal, I'd rather 'flip' a company where I believe in the long term prospects as opposed to tulips or something. I'm sure you and anyone else would agree, and so my question is, what makes this such a compelling and easy flip opportunity that you'd choose it over a company where you believe in the long-term?
Just found this board, adding a few shares tomorrow with a limit .0001 bid. Should be interesting. Good luck!
I agree. It's such a non-event. Their job is to make this company work, not make shareholders happy for a few days. Anyone who has a significant amount of shares and plans to hold for the long term doesn't seem too stressed about this.... because it has no bearing on what will ultimately drive the price and success of this company.
I cannot say this enough, that the filings are not 'late'. A deadline was not 'missed'. We filed an extension.
I will agree with WallStreet that it's slightly frustrating that they said a few days before it would be done by a certain date and it wasn't.... but slight frustration is where it ends. They are just as entitled to file an extension as we are to file one for our person taxes. No one is converting into cheap shares right now so there's no rush to artificially prop up prices for a day or two.
Nic has all his funds on the line, his interests are aligned with ours. If he can put his house up, I can man up and wait a few days for a filing.
10 more shares traded at $55?
Unclear if someone slapped a bid, slapped an ask, or if someone just swung their hands and missed completely.
That's an odd strategy... With the many thousands of stock offerings out there, one would think you could find one that is set to have a 'little run' but also has potential for long term value.
What makes you so bullish about the short-term run potential here that would make you choose this over a company where you believe that it's undervalued in the long as well as the short term?
Nice! I hope you are able to keep picking them up before news hits so I'll hope for a slow release on your behalf :)
If I wasn't tapped out I'd be competing with you for $0.015 for sure.
I think there are way more shares than this out there. I've been basing everything on 1b.
That's one thing I'll be interested to get confirmation on in the next filing.. what the share structure looks like.
interesting.. Thanks for correcting that.. I was getting it confused with another company with similar issues.
So.. this co has about 8 million market cap, 11 million 'debt', so 19m enterprise value. You are saying you wouldn't pay that much.... How much would you pay?
IN some sense everyone who owns shares values it at at least the current price... otherwise, they'd sell.
What is your valuation here?
So we have dropped to $0.03... Not really 'unforeseen' since they still had a lot of convertibles to exercise as I mentioned an hour or two ago.
Good news is there should be an end in sight because max number of A/S is 1 billion.
We are at 200million or so right now. My thinking is that I'd take what I value the company at, then divide by a billion, and that's the price I should be willing to pay. Right now, in ten days, they can exercise the rest of the shares they have at $0.02, and that's assuming there's no further drop.
So.. forgetting the share price and toxic debt for a moment.. What value would anyone give this company. If you were a billionaire, what $ amount would you offer to buy the entire thing right now?
Market cap is 8 million right now but it would take about $11M more to clear out debts to present/past CEOs, noteholders, etc. Would you pay $20M for this company?
testing is already done. We won, we passed, we're good. Old news.
You brought this up in another post... but I, and I know many other shareholders here, would fight tooth and nail against going private, as I know many who believe the true value is multiples of where we are now.
Anything less than a dollar a share is an absolute 'no' for me.
Frankly, a JV would have to be pretty good and the partner would need to bring something new to the table. We have money and can ramp up production if the demand is there. I don't think the process is overly complex where we'd need state-of-the-art facilities like Tesla or something, we might just need to add a warehouse and hire more people if the demand is there.
Gary has 25 million shares and is 76 years old. He could ride off into the sunset any time and be pretty comfortable, but I don't think he's in it to flip quickly and make a few bucks... which is good for long-term holders.
Note that they did not convert everything at 3 cents. They converted some. They have more to convert at a discount to market price (About $200k worth left if I remember correctly)
I'd also note that there is more of this coming in August. The lower the price goes for the holders, the better it is.
The problem with toxic debt is that it reinforces itself. If the price drops to $0.04, then they convert a bunch at $0.03 and sell it down to that level. Then, if the price is $0.03, they are able to convert at $0.02 and get a deal.
And on it goes...
I bought a few shares with stimulus money just in case there was big news, but when there is toxic debt out there, big news is really needed to prevent the 'toxic slide' where one price drop reinforces more price drops.
I think it's a good company and good technology, but I am concerned that when there's toxic debt and low volume, it's a bad recipe. A few weeks ago there were days when just 30-40k shares traded. That's not enough to support 10million shares being dropped on the market.
This is the next big item to watch for. Hopefully there is news before then that would support the volume being converted.
During February 2020, the Company issued a convertible note payable in the amount of $440,000. The convertible note payable is due one year from the date of issuance, has an original issuance discount of $40,000, accrues interest at the rate of 5% per annum, is unsecured and is convertible after 180 days into shares of the Company’s common stock at a discount of 65% of the lowest trading price for the Company’s common stock during the ten trading days immediately preceding the conversion.
This is either a strong buy or strong sell... and that depends not on the ticks of the price, but on whether this plant gets fully approved and running. If that happens, then this price, and even the recent high that was 60% above where we are now, will both look like huge bargains.
If everything gets nixed, it will look like we overpaid.. at least until something works out.
Unless I get some money to buy more shares, I couldn't care whether support is at 14, or 20, or 30, or whatever. These prices will all be a distant memory if this gets going. I am holding until that happens and not giving an ounce of worry to ticker blips caused by retail trades. I've seen my own trades drive the price up and/or down 10%, so I know how meaningless retail is.
Good luck all!
I'm sure I've asked before, but what is the other one? Are they headed for trial like uoip is?
For the record, you are allowed to mention other tickers in context of comparing them to current situation. If you post that company and your experience and relate it to this.. that is allowed.
12 shares at $55.00
Who is getting their shares already?
Good morning!
Are people still posting here because of a lawsuit against those who sold, and is the claim that there were still assets and it shouldn't have been bankrupted?
Has anyone invested in the entities that bought the stuff ( for fire sale prices?)
Thanks!