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Thanks darkhorse
Hopefully yes ... and soon. It's the 5th acquisition that intrigues me. But this dilution is a bit overwhelming and it could have been executed better, IMO.
Blackfox would be the 3rd acquisition ... the Neurofuse deal hasn't closed yet.
Last week when BMIC went to .0236 and stayed there Thurs & Fri, I was beginning to see the light at the end of the tunnel. I thought (hoped) they finally exhausted their share inventory.
If volume maintained, I believed, we could rid ourselves of VNDM by today, maybe tomorrow.
But, BMIC returned yesterday and the same ole same ole trading returned. The only ones we can count on trading "normally" are retail when they're on the Ask.
If this continues, we will see a lot more of them [retail] soon on the Ask.
If it's frustrating for us, imagine for a "short-term" investor. And there were a lot of those that bought a lot of .0001s. Soon, many will be satisfied to just break even and get out.
With the Nov elections around the corner, many will want $$$ to start investing in MJ tickers since there are a couple MJ state propositions.
Grabbed another 20mil today, my average finally reached .0006 ... so now I'm holding [tight] 2 large bags.
Completely agree. When VNDM & BMIC are on the Ask, you know there are a lot more shares than are "showing." I'd prefer they be more transparent too. Just show what they really have to unload, so we can better gauge what to expect rather than show an arbitrary number -- a big (or small) order goes through ... and their number remains the same.
Very frustrating.
You're right, but I believe he means the chart showing the accumulation numbers opposed to the PPS movement.
Not bad being on that Board during a weekend. I'll be keeping my eyes on BMIC & VNDM, they're my barometer, so-to-speak, in regards to this dilution. Thursday and Friday BMIC finally laid off the Ask and stayed at .0236 . . . hopefully they're done and stay there.
VNDM unloaded a lot of shares Friday. Hopefully, they'll run out tomorrow or Tuesday, and they can join BMIC. Then if this dilution phase is over, coupled with some good news, we can get "normal" trading here. I know there will be ALOT of shares to plow through once we exit .0001s.
Waiting for the Q3 10-q to get a disclosure on the current OS.
Thanks Fox for the PM, I read your post. When I read that PR, I too noted the timing and the expected time frame to settle the bankruptcy and the new Poolworks [with new name] rollout. 2018 should be interesting.
Phew, just got home, and a bit liquored up ... here goes:
I will have to say this, by no means am I an expert, but I have never seen a ticker traded like this.
First, in a short time there was massive dilution - when I first caught on to MMEG early this year, there were about 240mil OS. I can only guess how much there is now, but the Q3 10-q will answer that next month. We all know why: first it was for operations costs, settling debt, and acquisitions. Now it looks like the revs from those acquisitions are now covering operation costs, and dilution shares are for acquisitions only.
The added shares had the expected result of the drop to the PPS, but I never imagined it would get this bad.
Second, the volume & accumulation here is unreal. Every day, shares are being bought. Many are retail with short-term goals .. as evidenced by that huge Ask of 1.1Bil when we left the No Bid arena last week, though it was brief. Many shares were also bought by longs -- .0001s are great to average down. And there's no better entry price for a new investor here than these levels. Then there are others who I can't figure out, buying big blocks. Usually, when a ticker goes through something like this, volume slowly wanes, interest drops, and by now we should be averaging 1mil shares traded a day - sometimes less ... that certainly is NOT the case here.
Finally, they're still filing. MMEG is OTC current, and have been filing their 8-ks, 10-qs, and periodically issuing PRs. Again, usually when a company is in this spiral, they go "dark." No filings, no PRs, etc. How many of those have we seen in the sub-pennies? On the OTC they go to Yield sign, to Stop sign, and for some, the Skull & Crossbones.
If MMEG is able to pull a rabbit out of their hat, settle a long term financing deal, build out what vehicles they bought (as they're doing with Poolworks now), make good future acquisitions ... and things turn around (like many of us believe & hope), and finally tackle the SS, then the story here would be epic.
Now to go sleep this off.
Man I hope the majority of those t-trades came from VNDM.
Well, the silver lining is this is two days in a row where BMIC is perched at .0236 - perhaps they're done with their dilution shares ... just VNDM is left standing with 1mil showing. Who knows how many shares they have left, but maybe [hopefully] they will exhaust their shares today.
I noticed whenever retail (CDEL) is one the .0001s, it get taken out in short order.
Looking forward to the end of .0001s and a Bid again, not looking forward to the wall of .0002s we'll be faced with. Hopefully (there I go using that word again) a good PR, news, or deal would help with that.
That would be music to my ears! Having substantial profits from revs to buy back shares [if all goes well] is still a few quarters away during this building phase.
Per their PR, they're trying to secure a "long term debt solution." My hope is they consolidate all their debt (including current noteholders!), and that would finally "plug-up" the dilution. Let's say a 1 year deal? By that time, God willing, the Revs have reached a point where MMEG can begin making payments on that debt -- without adding shares!
In addition to consolidating their debt, they would have extra to do their buyback, soon, while the PPS is still at the low (very low) trips ... that way they get more bang for their buck. Then retire most of them and keep a few to sell later at a higher price to deal with future financial issues, more growth, and/or pay-off their negotiated long-term debt. Wouldn't that be something -- paying off the debtors with their own $$?
Anyway, pie in the sky for now --- but if growth & revs happen --- maaaybe?
Yup, been watching L2 -- if BMIC [hopefully] stays out of it, like he/they did much of today; then maybe with similar volume tomorrow, we may take out the .0001s and head into the weekend with a bid.
Unlike yesterday, today I was able to pick up another 10mil shares without a hitch.
You & Marxbys are right -- and many investors agree ... hence the bump in volume.
Nevermind . . . the order expired -- got none. Wierd
Nope. It didn't go through at market closing - 12mins. Hoping the order gets caught up in the EOD t-trades.
Whoa, you're right Marx... Usually, I've had no problems buying .0001s (ETrade). At 12:48pm PST (10min ago) I placed an order for 10mil shares. Hasn't filled yet. This has been the longest it took to execute a buy order with MMEG (for me at least).
Geezus, a bunch of selling into the short-lived Bid and back to no bid.
Millions of shares bought at .0001 and it wasn't enough [as usual] to shake off BMIC & VNDM. In fact, their Ask got bigger as the day wore on. We will not make a decent movement up until they are gone, or they are just trading "retail" shares as opposed to dilution shares.
If we are fortunate enough to break through the .0001s and have a bid again, we will have to contend with the Ask, which by EOD, leveled off at about 1.1B shares!
A really good PR or news would definitely help, but not much if shares are still being diluted - and billions of shares in the hands of retail, who are looking for quick profits. Too many shares out there.
Very Frustrated
In Drama's post it stated early next week.
He didn't quite finish his first sentence: "The volume is from billions of shares of convertible notes" bought!
Good morning Marxbys and all..
Let's see what kind of wall BMIC & VNDM put up today. It sure would be great if we could go into the weekend with them finally tapped out.
Wow, about 230mil shares in EOD t-trades -- and we had a little over 88mil in a cross trade during regular trading.
I hope against hope that a lot of these shares came from BMIC's & VNDM's stash.
Yes, and Nov is not far off anymore. The CEO stated a little while ago, I forget which release, that they will be addressing a long-term financing option. I'm hoping it will consolidate these upcoming issues.
"Maybe it's time to put that 1.7m to work and buyback some shares to get the PPS to at least moderate level?"
To that I say: YYEEESSSSS!!!
Ahem, excuse me, I mean I agree.
That is a question one must ask him/herself -- everyone is different. For me, I am holding a sh*tload of shares. If I have to wait a year for growth, good revs/profits, and [very important] addressing the SS ... which then translates to a healthy PPS, maybe a very healthy PPS, then I can wait.
In a year, I'll know if my future is secure - or I'm holding a very heavy bag. Time will tell.
I am certainly not the most experienced guy in the OTC ... what is happening here is all new to me.
When a ticker is hit with crushing dilution, the interest drops, volume drops, t-trades stop, etc. The company then goes "dark' and ceases their filings. On the OTC, they go from Pink current, to a Yield symbol, Stop sign, and then some get the "Skull & Crossbones."
The dilution here is big ... check. But there's still volume and buying off the Ask, albeit it's at No Bid. And they're still current with their filings.
The Q3 10-q should answer some question in regards to the SS. Hopefully, MMEG has a plan for that next year.
The buys the last few days, and today, have mostly come from VNDM's & BMIC's bank. They've taken big hits, but their wall remains the same. I would love to take a peak behind the curtain and see how much they're really holding.
GLTA
Agreed. SHG's question is legitimate: why would a company making $2.5mil a year in revs sell for $1.5m? The answer is in the shares (400m) issued.
Now they're worth $40k - at par value .0005, when the deal was done, it's worth $200k.
A presentation must have been done to Blackfox before the acquisition about future plans and strategy, that obviously we're not privy to, that convinced them to sign the deal. Apparently they believe MMEG will go higher - much higher, and that they will make their money from those shares.
It doesn't seem like it now, what with the dilution and SS the way it is ... but apparently to Blackfox execs, it does.
Hoping & Holding
Alot of retail have been buying shares at .0001, they're looking at it as a "lotto" play - nothing more. I also know a lot longs have been accumulating - especially when we got to these .0001 & .0002 levels (emphasis on .0001s). I sort of have been guesstimating how many shares we [as a group] hold as times passes. I don't know how many shares are out there, much less the float, but I'm leaning towards 5.5B - 5.8Bil-ish OS. And I don't think I'm far off guessing we hold around 1B shares (maybe more?)!
But, you're right - someone else is accumulating. I have never seen such dilution in such a short time .. prolific! That one day, over 1B shares were sold/dumped -- but people picked them up. Some are retail, some long term investors, but who else would buy such large blocks?
After what we experienced this week, this should be having less interest and consequently, less volume. But no, even today over 285mil bought today and over 170mil in EOD t-trades.
I understand this damaged PPS level due to the dilution, I don't understand this consistent buying of a stock - that from the outside - looks like a mess. You may be right, something else may be afoot?
Time will tell I guess.
Yes, but after last year's election, that's all one heard whenever someone was appointed to a cabinet position. Was he/she properly vetted for this or that, going through vetting process, etc.
Sure, it would have been better if they put "diligently vets...", but hey, it's twitter.
I know it's new communication tech, but shareholders just got lambasted with a 1B share sell/dump a couple of days ago (and currently at no bid), and if it weren't for people here, we wouldn't have known of the AS increase.
An 8-k would have been nice - and it would have shown an accurate OS, without us speculating
Actually, in that sentence, vets was used as a verb (make a careful and critical examination of something). If it was used as a noun (animal doctor), you'd be correct.
Maybe some of that too, but the dilution continues. The Ask has been "healthily" hit so far today, but it does not phase the main diluter mms BMIC & VNDM. Their wall still stands, and actually grew as more hits came.
The only positive I can say is, at this price of .0001, it'll take half the $$ to [hopefully] rid them of their shares.
Today has been all Buys, but it shows as 'Black' on L2 on No Bid tickers.
Bought more today too -- waiting patiently for things to turn around, but waiting impatiently for dilution to end.
GLTA
Since I am a cartoon, I will say my order at .0001 has filled. I've been averaging for months now and now I'm at .0008.
Getting the feeling I've been trying to catch a falling knife.
No. A ton of .0001s were bought the last 5-6 trading days. Consequently, there are a lot of .0002s to plow through first on the Ask. If dilution is done (we'll see how BMIC & VNDM trade), and company announces good news -- specifically about long -term financing & acquisition news, then maybe .0003s the following week? A variety of things need to happen.
There are many traders watching from sidelines and a bit "skittish" (IMO) after watching trading last Fri thru Thurs. MMEG needs to do something to soothe nerves.
In the meantime, those who believe in MMEG are accumulating cheapies (and they don't get any cheaper) unabated.
Hoping for a good week....
If you're not kidding around -- re-read gastric's post #46833.
If you're just frustrated and venting and kidding along .. listen to the all knowing watchful eye Baby! A degree does not equate to intelligence. And, like watchful, I too attended Hardknocks U.
It's been rough for many of us, imagine watching this fall from an entry PPS of .0026 --- .003 -- or higher.
Some of us [but obviously not all] believe things will turn around ... hold on and hold on to your shares. This is not a flippers stock, I knew that when I did my DD. I also expected the dilution, but underestimated its impact.
Hopefully we'll be rewarded ... and you can join other non-degree-ers like Bill Gates and Larry Ellison. Well, not quite, but you'll feel like it. Hopefully.....
True -- I picked up a good amount on the Bid during the sell-off - then some (a bit less) on the Ask during the no bid time ... Can't complain too much, it finally got me averaged down in the trips..
Nice, slow, & steady green day. Much needed after the trading this past week [starting with last Friday]. Very rough watching that 1B+ Bid taken out and hit the no bid stage a couple times, albeit brief, nonetheless ugly to see.
We certainly got a lesson on supply & demand. One more week and Q3 is done, and looking forward to the 10-q - very interested on current SS.
No t-trades yesterday, hopefully none today .... perhaps maaaybe this dilution period is close to being done? I'm not going to say totally until BMIC & VNDM begin to "trade" normally.
GLTA!
Thanks -- this week was a bit shell-shocking, glad the weekend is upon us.
Phew, no assault on the Bid today... hopefully, the worst is behind us. Grabbed a bunch of .0001s early in the week - had a remaining order for 5m shares @ .0001s and just switched to .0002s.
Holding and waiting for a good PR. Curious & dreading what the SS is now.
IMO, looks like many of those who acquired .0001s this past week-and-a-half are not going to risk & wait. Instead, they're abandoning their plans of doubling their investment and jumping ship to "breaking even" now.