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ABWN I banked on that one Tuesday. Profited over 100%. Have not reentered since but I think it runs again maybe next week or week after. I'm eyeing 002 or even 001 maybe for next ABWN buy zone.
Appriciate it, thank you.
Sold at 0097 - 0095 for just under 22 thousand gain. For those still in I absolutely think ABWN can go higher but I wanted to take gains. I intend to keep watch and very well many reenter if I feel I should.
Holding 0056 0037 and 0029 and haven't sold.
And its off and flying after the 006 break.
Time for another pop if it breaks 006
I love catching bottom.
Nice looking hammer.
I'm up a ton but will hold for now.
1 cent is very possible. Oversold indicators haven't even budged.
Beautiful green!!!
FINRA might allow that one because they are doing 3 actions all in one. If that were to get approved then there would be a 60 day minimum wait before another company action. FINRA rule 6490. In the case of that stock the reverse split and then forward one with name change all equates to just one ticker change. They will not be allowed to do any action that changes the ticker after for 60 days. That company is still waiting approval so they have not been given the go ahead yet by FINRA. FINRA rule 6490 covers this. Once any action(s) by a company that changes the ticker there is a 60 day wait before another can happen. Reverse splits fit into that because they are ticker changes because a "D" is added to the symbol. Covered under FINRA rule 6490 concerning corporate actions which a split is.
"What documents are required for a stock split?
The company needs to complete the Issuer Company-Related Action Notification Form and submit to FINRA no later than 10 calendar days prior to the record date of the corporate action. Submissions can be set via email or fax to (202) 689-3533. Failure by an OTC Equity issuer to provide the requisite notice may constitute fraud under Section 10 of the Securities Exchange Act of 1934."
"Are there any reasons when an OTC Voluntary Symbol Change will not be granted? Or are there any time restrictions when requesting an OTC Voluntary Symbol Change request?
Yes, FINRA will not process a voluntary symbol request if the issuer has either an announced corporate action or a symbol change within the past 60 days."
What market did it trade on? Nasdaq? What is the ticker? There are limits on OTC.
Yes I understand that. That still does not negate the fact that to effect one they must must vote, give notice and have it approved by FINRA. Once there is a filing to effect one thats when its coming, not until then. Also FINRA will not allow back to back splits. You are looking at a clause in a contract, that is not a filing to do a company action. A split is a company action and they must file and give notice with FINRA approval.
That's a good post. However please do more research. FINRA states a company must give FINRA 10 days notice before a corporate action like a name change or stock split. Failure to do so may constitute fraud. A stock split is a corporate action listed by FINRA. 10 days notice is required.
Second, no FINRA will not approve back to back stock splits. There is a minimum 60 days waiting period after a corporate action which a split is a corporate action.
Finally starting about 3 years ago they stopped allowing more then 2 splits in a given year. They did so as a reaction to all the complaints they were receiving by upset OTC investors. The kind of companies that have been allowed multiple split after split have been Nasdaq stocks recently. Nasdaq has been allowing it. On OTC land FINRA regulates. Yes believe or not OTC is actually more struck then the Nasdaq as far as splits are concerned.
Again FINRA will not allow back to back reverse splits. A 35 to 1 reverse split will not bring the share price back high enough for all of those conversions you speak of. They will not be allowed to do another reverse split for many months. Therefore the answer is right in your face as to what must happen to the pps considering all of the conversions you speak of and only 1 reverse split being allowed by regulators for months.
Gave me a chuckle. Funny post, liked it.
Go back and read that 8k you are referencing. They still must vote to effect one then give notice then have FINRA approve it. It is in that 8k. Public notice and filings of split authorization is one thing then voting notice and filings to effect one are separate. They understand this clearly in their 8k.
Thats correct they must file with public notice ahead of effecting one. That clause in the preffered share agreement that people point to doesn't negate the fact that they would still have to file and make public notice that they will effect one. The comapany's last 8k states so correctly as they are a QB stock. A vote with approval and public notice and then approval by FINRA. A clause in a contract from before does not negate or eliminate what procedures they would still have to do to effect one. Can they break the rules maybe and just do one out of thin air, maybe but I doubt it. They will lose QB status if they did. Their own 8k last week clearly states that they understand a vote, public notice, and approval by FINRA are all required before effecting a split. Again, a clause in a preffered share agreement does not cancel out and negate the process that a QB stock is required to do to effect a split
No I do not think stock bottomed yet. I believe it will bottom sometime next week. When I say bottom I mean bottom before first dead cat bounce.
Yes I agree completely somewhere around 2 million is the market cap. I was using 1.5 billion shares outstanding as a point to say that even if the authorized was maxed out the MC would be 5.7 million which would be that the market cap would still be down over 90 percent. Which is odd considering the explosion in shares issued.
It looks like a group did a pump job on this and got the market cap up to 400 million. Then after that the market cap settled around 100 million earlier this year before the conversions started rolling in. Now market cap is 2 million and down 98 percent which is fishy because the shares issued increased 5 fold during that time. In other words im saying that the share price decline is far far in advance to where the dilution is at.
It makes since that after the first 30 minutes of trading and the VWAP premium is gone because of the fall in price that the toxic converter sells at a loss for the last 6 hours of trading lol. What is the converter doing there those last six hours??? Sits on the ask as ax dumping away. I guarantee you he isn't selling at a loss but some of you think it makes sense for him to keep selling the last 6 hours everyday under his discount, wow.
ok well I was just respnding when you were trying to correct me when I was pointing out how low the market cap was and how weird it was for the market cap to drop 98 percent during massive dilution. You pointed out lower share price makes a lower market cap but I just wanted to point out massive amount of more shares increases market cap. Being a CPA then as you say I'm sure you can see how weird that would be for the dollar value of trading everyday to be greater then the whole market cap and how weird it is for the market cap to drop 98 percent even though amount of shares is exploding. The math doesn't add up Mr CPA.
Exactly toxic converter "won't want to kill the golden goose". You are also correct the debt ABWN spoke of was convertible note deals only. Prefferd shares with warrants are not part of that. Here we have convertible notes that need to be processed and preffered shares with warrants that will need to be exercised. The debt is now much less then the 2.7 million they stated a few days ago. The preffered shares with warrant though who knows how much of that is left and there were three series of warrants. Here we have all of that going on but only a 0038 pps to work with and probably only 1 reverse split allowed by FINRA within the next 3 months. Converting all of that stuff isn't going to be successful imo without the stock going on a run.
This thing reminds me of MDCN. You remember that one? Horrible financials. I think I remember it was 2016 it got hammered hard similar to this but still had tens of millions left in convertibles. It did I think a 50 bagger as its first dead cat bounce. Then after the first dead cat convertibles hit again, then a reverse split, then more convertibles, then it had a second dead cat which was over a 10 bagger. Then 6 months ( it could have been longer actually) after the first reverse split FINRA allowed for a second. Only reason MDCN ran like that twice was because converters needed it desperately to get pps back up to have room to work with again.
I really am suprised by some here who think FINRA is going to allow 3 reverse splits back to back to back. They stopped allowing that kind of stuff 3 years ago. As we are pointing out this thing is going to need several dead cat bounces just so converters can process through want they have left. If they only count on reverse splits then they will be left holding the bag of convertible notes with stock at no bid. Conclusion to me is there are way too many convertibles left here and no way near enough reverse splits and size of splits that will be allowed by FINRA to elevate pps alone. The converters are going to need some nice dead cat bounce to be able to clear out their conbertibles.
And you are forgetting FINRA will not allow 3 reverse splits. They will allow 1 for sure. Second one they will probably allow but not back to back, so they will allow the second one after a few months after the first. They won't allow more then 2 in a year and after the first one they won't allow the second one for awhile. FINRA started getting like that a couple years back.
Great Basin and Rennova, Dry Ships, Free Seas, companies like that were all Nasdaq when they were allowed back to back reverse splits. FINRA doesn't allow OTCs to reverse split back to back like those. If you think ABWN is going to get to do 3 reverse splits all in a short period of time then you are going to be surprised.
Maybe that is the plan of the toxic converters, to short this to death and use reverse splits back to back to back to create room to short again each time. If so then they have made an error because now pps is 0038 and they don't have much room to work with. They can get the first reverse split through but after that it will.be months before FINRA allows another one. If they want to finish their conversions later in the year then the share price will have to rise on its own some. Otherwise, the toxic converter is going to be left cornered in as they will have a 0038 share price and only 1 split to work with for months. The converters are going to need a higher share price to work with to dump more conversions and short later.
Converting and shorting is more profitable starting at a higher share price. 1 reverse split for months isn't going to get the stock up high enough for them to clear out their conversions.
Yes I think so too.
You guys really think that the note converter sells for a profit for the first 30 minutes and then sells at a loss for the last six hours??? After 30 minutes the VWAP premium is gone everyday. What are they doing on the ask most of the rest of the day??? I can guarantee you this, they are not lossing money. It's right in everyone's face what they are doing.
You think they sell for a loss the last 6 hours of trading everyday? The toxic lender? At start of the day they sell at the VWAP premium which is usually gone within 30 minutes, so what are they doing there on the ask most of the rest of the day? I know you don't think selling for a loss. They are shorting. It's either or. It's either they sell for a loss the last 6 hours or they are shorting the stock. Everyone knows they are there for most of the 6 hours and I know people can't be foolish enough to believe they are sitting there selling massive amounts at a loss.
They short the rest of the day. Once they cashed in their VWAP premium for the day, usually gone after 30 minutes, they make gains shorting. They use the shares that get converted the day after to deliver to the clearing house what they shorted the day before. That locks in the gains from the shorting. Also it drops the VWAP lower as well for the following day. Then it's rinse and repeat.
You think they sell for a loss the last 6 hours of trading everyday? The toxic lender? At start of the day they sell at the VWAP premium which is usually gone within 30 minutes, so what are they doing there on the ask most of the rest of the day? I know you don't think selling for a loss. They are shorting. It's either or. It's either they sell for a loss the last 6 hours or they are shorting the stock. Everyone knows their there for most of the 6 hours and I know people can't be foolish enough to believe they sitting there selling massive amounts at a loss.
They short the rest of the day. Once they cashed in their VWAP premium for the day, usually gone after 30 minutes, they make gains shorting. They use the shares that get converted the day after to deliver to the clearing house what they shorted the day before. That locks in the gains from the shorting. Also it drops the VWAP lower as well for the following day. Then it's rinse and repeat.
Fine use 1.5 billion as outstanding shares. Market cap is then 5.7 million. I used your numbers when you were correcting the other guy where you showed the market cap earlier in the year was 100 million plus, sometimes as high as 400 million. Now the market cap is less then 2 million or fine say as high as 5.7. Heavy dilution plunges the market cap by over 90 percent??? No way! The stock trades as much in actual dollars daily as the company's market cap??? This is normal??? You can't believe this. Yea you said the lower the price the lower the market cap but your only looking at one multiplier, the price. What about the huge increase in shares, the other multiplier? The shares outstanding explodes up in this equation yet the final answer ( the market cap) goes down 95 to 98 percent???
That's the essence of dilution. As more shares hit the market the price per share decreases, so the 2 multipliers teeter trotter at least to some degree. There has been a 20 times decline in share price greater to that of the increase in dilution. That is flat out fishy. Then realizing that daily money value traded is as large as the market cap, wow, that's not all dilution. It's mathematically impossible in fact for that to be the case daily. Remember it's not just the lower the price per share the lower the market cap. It is also the higher the amount of shares the higher the market cap. Here we have a case where the amount of shares is exploding and yet the market cap dropped 95 to 98 percent. Very fishy.
Dilution here has caused O/S to go from 100 million to I'm guessing 500 million. Yea I've seen that plenty of times on OTC. Even Nasdaq, stocks like Great Basin back when it was on Nasdaq. What I have never seen is for the market cap of the company drop form over 100 million plus to less then 2 million. Even what many consider the worst stock ever Great Basin didn't do that. I remember back when great basin first did their warrants in 2015 and before the carnage their market cap was 150 million, then the low just before it's first dead cat bounce the market cap was 50 million. They made it easy to figure out because they would PR their share structure every 3 days. Dilution only isn't going to drop a company's market cap by 98 percent. The share price absolutely but not the market cap. Someone has their hand way way way deep in this cookie jar.
There is no after hours trading on OTC so if you see one reported after close called a t trade it happened earlier before close and was usually dilution. I mentioned 5 decimal trades. Also volume, volume is the biggest key. If a an OTC stock trades 5 million shares on average last 10 days and all the sudden trades 100 million shares in a day and no news or anything then you've got a diluter on the stock.If the transfer agent won't give out share structure info then there is usually dilution. If even on level 1 there is a dealer on the ask being ax and keeps showing 10,000 or 100,000 or 500,000 or 1,000,000 but doesn't move then you have a diluter on the stock. That's 5 ways to know there without level 2 that a stock is being diluted.
Now market cap is only 1.5 to 2 million. .0038 times 400 to 500 million O/S at this point. This is very very strange. Heavy dilution hammers the share price but not usually the actual market cap like that. From a 100 plus market cap to just 2 million? Shares flood the market but market cap itself drops 98%??? I get if the apps drops by that much but the market cap??? On top of that this thing trades in money value everyday MORE then the whole market cap. Dilution absolutely brought this down but absolutely this was shorted the snot out of. No way for market cap to drop to less then daily money value traded and for market cap to drop 98 percent total without mad massive shorting. For me case is closed on whether this was shorted or not. The toxic lender shorted the snot out of this. Makes since he needed the pps way below 25 cents to benefit off of. Again I can see how the share price dumps with massive dilution but market cap can't drop like that just by dilution.
Sorry to hear that. OTC is a very corrupt market place. There is 1 in a million stocks that make it. O and when I say I would think this will get its first dead cat bounce soon I mean 1 to 5 cents maybe, sorry to say. I only think it will because I believe its in the toxic lenders interests to do so to be able to convert more down the road. The management of this company made a deal with the devil unfortunately the vast majority of these OTC companies do the same. Getting in bed with these toxic lenders is death.
Well I don't see how the toxic lender will be able to convert their other series of warrants without letting this recover some. All other stocks in this kind of deal also get hammered but usually have had 2 dead cat bounces by now. I look at it as whats best for the toxic lender. I would think it would be best for his own interests for a run up so that he has room on the downside again. And again yes the company has authority to do 3 reverse splits but FINRA isn't going to allow that many. 2 at most in 1 year period is what they allow now on OTC. I currently have shares at 0056 and 0037 so obviously I think it will get its first dead cat bounce soon. I just don't see what good it does the toxic lender to keep dropping the stock at this point. They would do better to pump now I would think. Making money going both ways (up and down) is always better then making it only going one way and I just don't see how they convert future warrants without the stock having a run up first.
I have to say the aggressiveness of the converting by the lender does have me a little puzzled. Great Basin had much worse warrant deals and back in 2015 when it was on Nasdaq it wouxpd have its bounces. Once Great Basin was on OTC I never played it. Anyway I remember them having I think 5 or 6 different warrant series. It had its bounces though. Its first dead cat was at around 5 cents and it went to 13 for example. I have seen so many warrant conversions and convertible notes through the years but I've never seen this from over a dollar straight down below half a penny. Even what people think was the worst ever (great basin) had 2 dead cat bounces by this time in the process. Why this toxic lender is hitting this thing so hard actually seems to be coming to a point where he might actually make things harder on himself. I mean he knows what hes doing better then I would know for him but with FINRA rules concerning amount of times a company can reverse split, and now only a 0038 pps to work with, I feel the toxic converter may have shot his own feet off considering he's got 2 more series of warrants to convert. I don't see how he does that if he continues what hes been doing. Its really weird and different what this guy is doing. I mean I would think the toxic lender would protect his interest and make sure he can convert future warrant series but at the rate hes going he won't be able to.
The toxic lender, the preferred share warrant converters are shorting and doing so ahead of converting. Chart even shows it. Look back before the toxic deal was made public. The cliff dive took its begginings and started days before the announcement.
Well yes. Dry ship and Great Basin and Rennova etc etc. There are dead cat bounces though and big ones. The previous mentioned all had many of them as they died. Dead cat bounces have to be timed just right. One with experience and knowledge of toxic financing like this warrant deal, those that can read financials as well as charts and are battletested to withstand are the only ones who should even attempt playing these types for a bounce. I think Ive said that 3 times in the last week. Penny stocks really are not for beginners, they are for the more experienced.
With that said I think no way FINRA allows 3 reverse splits this year. Someone mentioned dry ships. Dry ships was on Nasdaq and they allowed all those reverse splits. FINRA approves reverse splits on OTC and nowadays they don't allow more then 1 maybe 2 a year per to ticker.
This company has authorization to do 35-1 but that will be no where near enough. Especially if FINRA allows only one. FINRA isn't going to allow back to back in a short time window. The loan shark converters, the proffered share warrant holders, are counting on multiple reverse splits though. They are not going to get 3 in 1 year though. They got over aggresive on their shorting and now sit with series B and C warrants to convert later in the year but only a 0038 stock price to work with. They shot theirselves in the foot imo. 1 35-1 split won't bring the price up high enough to clear out future warrant series. This is why I think a breather happens soon on the conversions and its time for dead cat bounce number 1 to commence.
Of the series A. I figure 750k left of series A.
These warrant holders will short ahead of converting. Converted shares today were used to cover shorting yesterday most likely. They do things like that. Its a risk free short becuase they know they can easily deliver shares needed from conversions before the settlement date at the clearing house. Today's shorting is covered by tomorrows conversions kind of thing. This toxic deal has 3 series. My math (which could be wrong£ has maybe only 750k in dollar value left to convert. Usually the is a breather break between each conversion series and that's when there can be a dead cat bounce.