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Wrong
This is the same share count they had in 2018. Why is a problem now? Dilution for the right purpose is a good thing. Good things will come to the $FTEG investors who are patient and informed.
Kbag...you have finally won me over. A reverse split makes no sense at all which is consistent with everything you have brought to this board. So when you say "flounder" you don't mean "fish" you mean "SFIO"... so, when you say RS, you are talking about a 1:1 reverse split... Now it makes sense kbot.
Accumulation does tell a lot as does the things that have been brought to light in regards to the company's revenue streams and diversity.
The only thing wrong with SFIO currently is that they made a poor judgement by trusting their bean counter with the task of satisfying the OTC'S requirements. They were likely wanting to conserve cash but they underestimated how complex filings for a publicly traded company can be, especially one with a CE attached. Had the SEC's CE trade ruling that went into effect on Jan 31,2021 never existed this stock would probably trading above .25 cents... I know it, you know it, We all know it...
I am not worried about this stock in any way... not one iota
I still believe he and his group are shorters...
They're as current as RicFlair
I just discovered yesterday that this POS is still trading and has been trading for some time. SO... now I'm starting to make my journey down the rabbit hole that many of you have gone down.. I was just hoping that someone here could give me a head start...
Well... does everyone have the CLASS B RESTRICTED designation? That in itself is unusual in that it is a protected class and there was only 2 million of them.
I LOVE this stock $SFIO has finally been freed up from all of the BS that we just went through. Gonna make us all RICH.
BTW, Worst Elaborate Hoax Ever... LOL
SFIO
Seems way undervalued to me. It went parabolic yesterday before selling off to just an 88% gain for the day. Surprisingly it's still a sleeper so there's still time... $TGRO
Buried Gem. Let's Dig
Today's action was Hellagood... lol
My portfolio is at an all time high. Really glad I kept buying in the 2's and 3's but it really paid off. I can't believe that this stock was dead a couple of months ago and now it's a game changer.
$SFIO=$5 EOY
Nice tool... I'm adding it to my DD routine.
Thank You
Do you know anything about this stock? It has a AS of $750 Million shares. What are they going to reverse split to? What would that accomplish?
No companies will process CE after 1/31. This is a SEC ruling
A Quick Review of Our Timeline
ARTICLE 1 -------------------------------------------------------
11-19-2020
PRESS RELEASE
Newsfile Corp.
Smokefree Innotec Signs Definitive Agreement to Be Acquired by Agrokings Incorporated
Los Vegas, Nevada--(Newsfile Corp. - November 19, 2020) -
Smokefree Innotec, Inc. [...] is pleased to announce it has signed a definitive agreement to be acquired by Agrokings Incorporated [...].
Agrokings is a conglomerate of synergistic companies in the hospitality, agricultural, electrical and distribution spaces, and will include the Epiphany Café franchise group, Gorgeous Coffee, Ardent Bakers, and A+ Electrical - all of which are located in New Zealand. Altogether, the companies mentioned are generating millions of dollars in annual revenue and are expanding at a rapid rate throughout the region.
Epiphany Café currently has over 15 franchise locations in New Zealand and hopes to increase this number to 20 before the end of the year. Furthermore, Epiphany Café is currently eyeing eight [...] existing cafes in Australia to be converted into Epiphany Cafes. The company has also started to offer licenses to establishments who intend to offer Epiphany's signature iced drinks, specialty coffees and artisan donuts.
At the moment, the new management's intention is to bring the company current with OTC Markets and apply for a ticker symbol and name change . Further updates regarding strategic partnerships, acquisitions, and capital raises will be released in the near future.
ARTICLE 2 -------------------------------------------------------
12/2/2020:
Content from SERVEBANK website regarding certain details of SFIO/AGROKINGS R/M
"SFIO will be acquired by AGROKINGS. AGROKINGS is a holding company that owns Ardent Bakers, A+ Electricals, Epiphany Café, and Gorgeous Coffee which are in New Zealand.
Ardent Bakers is involved in the manufacturing and distribution of food products such as donuts, scones, muffins, and cupcakes. Ardent Bakers has supply contracts with major food suppliers in Australia and New Zealand.
Epiphany Café NZ currently operates 20 franchise stores in New Zealand. Epiphany plans to acquire several food distribution companies to increase its revenue and distribution networks to over 1,000 food outlets across Australia, New Zealand, and Asia.
AGROKINGS has formed a strategic partnership with SERVEBANK to secure companies with strong growth potentials, robust revenues, significant profits, proven track records, and promising business models with highly experienced management teams that will exceptionally qualify for quotation on OTC and or listing on NASDAQ markets within the next 3 years."
SUBSIDIARY Agrokings, AIG, Ardent Bakers, A+ Electrical, Epiphany Café and Gorgeous Coffee
ADDRESS 720 Arthur Porter Drive Burbush, Hamilton New Zealand
SERVEBANK has signed an agreement with AGROKINGS to acquire SFIO and assist SFIO in its strategic acquisition of companies for its expansion plans.
GROWTH PLANS – YEAR 1 TO 3
SFIO has signed an agreement with SERVEBANK to allocate $20 million within 3 years from the date of its quotation on the OTC to invest in companies with strong growth potentials, robust revenues, significant profits, proven track records, scalable and promising business models, experienced management teams, and planning for quotations on the OTC and or listings on NASDAQ markets within the next 3 years. SFIO is projected to build up its assets worth $200 Million upon the successful quotation of these companies on the OTC and or listing on the NASDAQ Markets.
ARTICLE 3 -------------------------------------------------------
12/09/2020
RESEARCH 'DD' CREDITS: EliteYoda on incoming company below:
Epiphany Cafe website Epiphany Cafe
Upcoming Corporate Website https://www.sfio.co.nz/" rel="nofollow" target="_blank" >https://www.sfio.co.nz/[tag]SFIO[/tag]
Article about Epiphany Cafe in Nourishmag Magazine Epiphany Cafe
(Flip to page 56 ) The article talks about Jeths Lacson the founder/director and how the company began and how they are now setting up a headquarters and expanding their locations geographically.
More info can be found at : Nourishmag Magazine
"SFIO will be acquired by AGROKINGS. AGROKINGS is a holding company that owns Ardent Bakers, A+ Electricals, Epiphany Café, and Gorgeous Coffee which are in New Zealand.
Ardent Bakers is involved in the manufacturing and distribution of food products such as donuts, scones, muffins, and cupcakes. Ardent Bakers has supply contracts with major food suppliers in Australia and New Zealand.
Epiphany Café NZ currently operates 20 franchise stores in New Zealand. Epiphany plans to acquire several food distribution companies to increase its revenue and distribution networks to over 1,000 food outlets across Australia, New Zealand, and Asia.
AGROKINGS has formed a strategic partnership with SERVEBANK to secure companies with strong growth potentials, robust revenues, significant profits, proven track records, and promising business models with highly experienced management teams that will exceptionally qualify for quotation on OTC and or listing on NASDAQ markets within the next 3 years."
ARTICLE 4 -------------------------------------------------------
12/11/2020
RESEARCH 'DD' CREDITS: EliteYoda on 'CE' ('Caveat Emptor') below:
The 'CE' ('Caveat Emptor') designation was set by OTC Markets website back in 2011 when there was a DTCC global lock put on the ticker and also an SEC regulatory litigation against the CEO back then based upon a conspiracy to commit fraud charge by the SEC. All of these events took place in mid-2011 and the stock has remained as flagged by the OTC Markets group with the 'CE' designation.
The current management which took over the Nevada corporation known as SFIO recently addressed this designation on TWITTER
"It's come to our attention that some investors aren't able to buy our stock because of the "Caveat Emptor" symbol. Please know that this is there because of mistakes made by prior management. The company is taking the necessary steps to go current and have this symbol removed"
So it appears that the new management team with Epiphany Cafe and ServeBank which has taken over the ticker have taken the necessary steps to provide filings and disclosure to OTC Markets and we are all now just awaiting approval and status change for the SFIO ticker. It seems once OTC Markets updates the status the 'CE' flag should no longer be there and the ticker should show as 'current' reporting status, but we will all have to just wait and see if that happens. At this point, only real audited financials, filings and disclosure will likely get this ticker back to a legitimate status. While the 'CE' flag is there most brokerages are not allowing clients to buy stock they only allow the selling of SFIO shares but once the status is changed, it's likely that brokerages will allow purchasing of the stock as well. Also the company will likely put out a 'PR' once OTC Markets is updated. All we can do now is wait and watch for actual real SEC filings to bring the company to current reporting status. At least the DTCC 'global lock' has been lifted since the events of 2011 'troubled waters'.
OTC Markets definition of the 'CE' designation :
Quote:
"Buyer Beware. OTC Markets Group has determined that there is a public interest concern associated with the company, which may include a spam campaign, questionable stock promotion, known investigation of fraudulent activity committed by the company or insiders, regulatory suspensions, or disruptive corporate actions.
ARTICLE 5 -------------------------------------------------------
12/11/2020
RESEARCH 'DD' CREDITS: EliteYoda on Assumed EPS and P/E multiple below:
Just a quick back of the envelope calculation, if one considers that ServeBank states on their website that the requirements for partnership with companies involved in food distribution and manufacturing (which would be the category for Epiphany Cafe), the target company must have OVER $20M in annual revenues! If we assume the share structure stays the same with 633M outstanding shares then if we assume about $20M annual revs then EPS would be close to about $0.03/share.
Tack on whatever P/E multiple you want but the average 2019/2020 P/E multiple for OTC stocks has been between 20-25.
P/E of 25, EPS of $0.03 would equate to a fair stock price of about $0.75/share!!!!!
In my opinion, with growth this strong with Epiphany Cafe, me thinks a P/E multiple more like 50 is likely so that would be a PPS target of about $1.50!!!
Many OTC tickers out there trading at 50 to 100 P/E multiples on promises of future revenues and/or nothing, no assets or earnings at all, just pipe dreams, some Pink stocks recently went from trip zeros to $0.27 just on hype alone. If this incoming holding company has real growth and real revenues to the tune of tens of millions per year, watch out!
Who knows what their actual annual revenues are or what the market is going to be willing to pay for those earnings but we will just have to wait to analyze the financials and filings once they are made available and OTC Markets status is updated. That could happen in mere days or maybe even a few weeks because the holidays are approaching so back office tasks could be delayed for OTC Markets, the SEC, etc.
Looks explosive! Glad I'm still adding on dips
I absolutely think this is 100% legitimate. I cannot say the same for posts out of the blue that are intended to spread disinformation and start posts with "Hey Pumpers"...
Yes BV... what you state here is correct, the new ownership is a complex and diverse entity composed of many different revenue streams that have to be accounted for, but I am sure that the very loose accounting of the previous ownership has impacted an otherwise complex filing substantially.
Someone on this thread stated that filings take "like 5 minutes to do" but even with the most simple companies, it can take days and even weeks to do the filings correctly especially if starting from scratch. This is why most OTC entities simply don't file. It requires cash, manpower and expertise. Most penny stock companies lack all three of these resources.
From what I have seen, they are doing this right. It is more important that they file it right... than to file it right now. This tells me that they are the real deal and will be perfectly positioned to up list to NASDAQ once they are firing on all cylinders
Good analysis Esa... spot on