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selling from .10 to .02 with .04 avg out they would make $5,000,000 on $11,000,000 loan in about a year. Not counting warrants and whatever else they got going on....
Don't worry. You'll have your day. When this finally RS it will hit your last add price of .46.
Wish shorting this was an option but not possible for retail. Would have been all over it for weeks and long covered by now. If you short $1 .50 .25 whats the point holding here when you already at max gain pretty much?
Long half position at this point. Would sell into spikes and look to reposition. Not looking to add unless big washes. Seemed like .04 was big bottom before as they didn't want to max out OS. At this point this might not matter if they just want to cash out. They could try to milk this and try to sucker in people higher but doubt its going anywhere fast. They'll be able to reload 10% of OS at least 5 times.
Yeah no-one even mentioning the warrants or preferred shares. Some of these guys been perma bulls banging the table since multi $s repeating same thing day after day. For weeks now claiming debt is pretty much done and my numbers were wrong. I was attacked for saying there was at least 3-4 million debt left like 3 weeks ago. We had that much late last week....
They will sell what they got and company will issue them another 16,870,000 shares. They will sell those and company will give them 19,300,000 more etc
Getting shares issued at discount and selling them at market are two different things.... If shares issued for debt cleared debt at market price sold the note holders couldn't make any money and would have zero incentive to lend money.
Exactly. There are restrictions for 10%+ holders. 10%+ holders have to file their sells. They are also strict volume restrictions.
Restricted shares that are issued have holding period restrictions. In this case it appears company is not issuing enough shares to former note holders to push them over 10% of OS. Making the above restrictions null.
No need for diversions my friend. Our posts going back and forth are for everyone to see. You have been wrong since the first post we exchanged. You still bullish and stock is down something like 97% since. $10,000 position would be left with $300 here. It takes a special kind of screw up to lose these kind of %s.
Last agreement with note holders were shares getting issued at 82% WVAP. With 11shM or whatever exact amount was I think they needed $13.2M worth of shares to get sold. So note holders already got their money back.
Now lets be real MAXM selling at .08 doesn't mean whole .08 is going towards cleaning up the debt. Didn't it common stock par value .01 in the filing? If so another 220,000,000 more shares will be sold.
There was a bit less than 100k debt left a month or so ago? Even at discount from .0003 lows this would have cleared up at least another 10k. There were a few other days with 400-700M volume too. VNDM and BMIC should be almost done.
And as I been saying for countless weeks now my friend nothing will change here fundamentally until debt is paid off.....
Can you explain to us how 15,000,000 shares that were issued at lower prices than it was trading today finished off $3,000,000 in debt. Some interesting math....
Did you miss the part of the PR where it said company issued INITIAL part of shares to "finished" not so "finished" note holder thats still owed $3,000,000? Initial part being just "starter" 15,000,000 shares that were getting dumped at any price today?
There are different kind of restrictions. It appears in this case per agreement they aren't issuing restricted shares to beneficial owner until they ask. Which is after they sell shares that they have.
And yes there are 2 investors. One of them getting 4.9% of OS at a time and the other 9.9%.
Really? In companies last filing it clearly says they had over $3,000,000 debt left. They "finished" the note according to them. Just didn't finish releasing all the shares to pay off the note holder lol
Hope you are getting paid well by the company. You deserve it for misleading countless investors on this board for months now.
Restricted shares are shares that aren't issued yet. Note holders are owed way more than the 15M shares they got this last time. Thats just the initial batch. As they sell the shares they got they'll be allowed to acquire more shares not to exceed 9.9% of OS. Note the 9.9% of OS. Its done this way so they can avoid rule 144 restrictions.
They are not restricted shares. If they issued them all the shares at once they would be restricted. But they will purposely issue them in batches to keep note holders position at under 10% of OS so they can sell them any time and not worry about volume restrictions.
Yeah it is ridiculous but unfortunately the way laws are its perfectly legal. Wonder what discounts shares are being issued at. They might get them issued cheaper and let stock bounce some to make bigger %s but they got a lot to sell still.
Its not a fraud. Try reading past the title. It clearly states that $3,000,000 of debt was left which are getting converted into new shares per new terms. It also clearly states that roughly 15M of INITIAL shares toward that debt was issued. MAXM had 15M shares to dump today so todays action not surprising at all.
The title of this PR is misleading if you don't look into details. Sure the convertible note is "finished" but the shares for "finishing" it aren't done being sold.
OS before this agreement was 99M. They issued shares to one investor worth 4.9% of OS which was roughly 4.9M shares and the other investor 9.9% worht of OS which was roughly 9.9M shares. OS increased from 99M to 114M.
These 15M new shares that were getting dumped today is not the last of it. Its just the beginning batch towards paying down rest of the $3M debt left. As they sell these shares more shares will be issued to them not exceeding 4.9% and 9.9% of the new OS.
The reason they are doing this under 9.9% is so the debt holder can avoid 144 rule and not have to file his sells and avoid volume restrictions.
I don't think shares that were issued are restricted. In the filing it clearly states they are not restricted and freely tradable.
1. Exchange . On the date hereof, pursuant to Section 3(a)(9) of the 1933 Act, the Holder hereby agrees to convey, assign and transfer the Existing Note to the Company in exchange for which the Company agrees to issue the Exchange Common Shares and the Rights to the Holder. On the date hereof, in exchange for the Existing Note, the Company shall deliver (a) the Exchange Common Shares to the Holder by deposit/withdrawal at custodian in accordance with the instructions attached hereto as Schedule I , which Exchange Common Shares shall be issued without restricted legend and shall be freely tradable by the Holder or (b) cause to be delivered to the Holder (or its designee) a certificate evidencing the Rights at the
address for delivery set forth on the Schedule of Buyers to the Securities Purchase Agreement. Simultaneously with the transactions set forth in the preceding sentences in this paragraph, the transactions set forth in clauses (ii) and (iii) of Recital B above shall be consummated.
Also don't forget the warrants from previous filings.
The $3,000,000+ debt that was left didn't just vanish. It was exchanged for bunch of shares some of which got dumped today.
this is by far the biggest volume day and if 1/3 volume did go to DCTH the 1M debt cleared is only 7% of total needed to finish note holder. It would need 3 weeks of volume like this. Lot of prior days only had 3-5m volume vs 45m today much of it at considerably higher prices. You were wrong before and still wrong now.
MAXM might back up again to get people to start bidding again but he'll come right back to create new bag holders. Judging by still very low OS last update there is likely at least few more million $s worth to sell.
We'll see. I don't mind taking gains along the way and staying in winning trades.
I do.
oops. Still holding .0003s in my IRA unfortunately not that many. Still got core from .0004s trading account. Just flipped the .0005s got friday and looking to buy back. Through .001 and this might really thin out. .002-.004 definitely not out the question given how rest of this sector is trading.
Was pretty easy 10M sell for me .0008. Back in half .0007. Praying to get hit .0006s but highly doubt it. Higher highs on chart first time in half a year. Looking way thinner than last .0003 to .0007 run too. Probably consolidates here a bit lower and continues the run later. Nothing goes straight up, tree needs to get shaken first to filter out weak hands.
OMG the stock is only up 40% today lol
looking good. .0008s up and ask looking as thin as it has in months. with rest of mj and crytpo pinks going nuts this should have some legs.
Say it ain't so! A pink sheet stock with losses and number of shares that grew. This pretty much describes the whole pink sheet market lol
Meanwhile stock going up and looking pretty thin .0007s. Lower buys looking better and better.
"this is a blip" Yeah it is a blip for people who been buying since $s. Few cents is negligible. Those that bought this morning and saw 40% drop its anotehr story.
amazing. Another huge batch of new bagholders.
yeah that was lame. Would have been nice to see .0007s for new year but not all bad. Filled some more .0005 in that 25m block few min before close. Pays to have your orders out early on bid. Some sick bounces on mj stocks today. Big gains to finish the year, going to filter some of it this way for more buys Monday. Happy new year!
We can agree to disagree. Opinions and pigs don't make money but trading does. Pointing out big notes and massive dilution when its hitting is one thing. For FUTL pointing this out during previous months was surely wise. But at this point posting that stock is a scam over and over when selling is just about done is not helping with anything. At least back up your comments with something why its a scam and why you think its going lower.
yep. Until it takes off and people are chasing .005 instead of .0005.
Don't you think these guys would already be locked up if they are lying and conning everyone? Putting out forward looking statements is not a crime. Diluting is also not a crime.
Company that operates within the law by definition is not a scam. Its perception based on YOUR expectations that leads you to your opinion. Doesn't make it so.
Lastly wanted to point out that every day this stock been getting diluted VNDM/BMIC would whack 5m 10M over and over for months. And end of day whatever they sold intraday would show up as T trade afterhous in one or two big prints. That hasn't been happening lately. The 10k VNDM .0006 and 5m BMIC .0007 ask are likely prop asks to create appearance of selling still going on. Note is likely finished and if not almost done. They just trying to get people to give up and sell so there are less sellers on way up when they do next big push up. Maybe I am wrong but not selling my .0004s and will add more .0004 or when it starts moving. If I am wrong I'll scratch out .0004 when .0003s start printing but doubt that happens. JMHO Good luck!
Also understand why these bs stocks run. People behind it are obviously shady. They issue a note to their friends/entity with terms like they get to convert the note at 60% discount to lowest price its traded in last 30 days or whatever. Then they release news and don't sell and let it run huge like last time .0006 to near .004. Then when stock is way up and trading huge volume they start converting .0006x.6= .0024 shares selling down .003s. Way up there they making 10x their money and barely paying down any of the note.
Notes from this last round are almost done. Chances are once note holder is done they'll start PR campaign again let this run big and do the process all over. Its to their advantage to start new campaign from as low point as possible as then they'll be getting shares for barely anything. As long as you don't drink the koolaid and understand whats going on you can make money.
Willing to give it a chance. If it doesn't go it doesn't go, not gonna break me...
Usually when it downticks its fairly easy to get out same price if you buy bid. I started .0009 scratched even. Got some .0008s sold some .009 scratched rest. Back in 7 and been flipping 5-10m down to here and actually green $2,600 overall and have a position .0004 avg with unrealized gain. This is pretty much first time in 3-4 months I been on this stock thats its holding strong bid a tick above my avg and trading bunch 2 ticks above my average. Pattern its been in has changed. So just looking for good excuse to triple up into a WINNING position(huge volume and higher price). Even turds have their day eventually.