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Agree! We should see it as positive
ya. We don't know much about him. On my side, can't say positive or negative. First done deal is a major milestone in term of confidence
Lefcoe for sure.
when you buy, you buy confidence. The guy leading the company is more than important
Auditor are reviewing the financial part. That's what I meant by accounting. We still don't know much about the guy. We heard some negative stuff. After the first deal done, this negative bias will be over. That's why I expect a big jump after the first one.
until it's done, they could withdraw for multiple reasons. This is the purpose of a DD, including accounting. We know he can strike deals, no problem on that side. But still no revenue in our book. Need a first success. I think the market agree with me. We'll see after the first done deal
till everything is finalized, I expect no big movement. But after that, when we'll see that there is finally something real, should be at least a five baggers
there arre two classes Bane. One for the management which is convertible and the second one with the condition you msaid.
By the way, at no place I said I disagree with prefered shares. People need to know in what they invest
could you explain me why they would not convert their prefered shares? You're all thinking they won't do it. They will. This is money. This is part of the company. THis is 40 votes. If you look at ownership, they still own half of company.
I think you mix O/S versus O/S fully diluted. Fully diluted you have to consider all waarants, options and other instrument like prefered shares would be exercized.
If you take into account the newly prefered shares. For the moment there is an equivalent of 51M of common shares but could reach 200M at max
More than that. As per 10-Q at least 51M. 16 (prior to june 30)+10 (july 19)+25(august 8)
Not really. In the short term, free float has increased substantially
Which situation?
You mean the conversion into prefered? If you mean into common, the question is not IF but when. At that time they will increase A/S, convert and file a form 4.
They transfered 10M in prefered shares. This gives the possibility to issue 10M new shares
Exactly what I'm saying. And in the short term, free float has increased
maybe you should ask someone else opinion. Cause the fact is fully diluted we are way above 200M, TODAY.
But if you look at free float only, you're right. no problem
but they are there. when they exercise, you have suddenly 100M new shares on the O/S even if they don't issue any new
because of the new class of shares. See what they did in the past weeks. They converted into preferred and then issued new shares. Fully diluted becomes O/S shares PLUS the total preferred shares time 40. But they gain time because they don't have to increase A/S until they decide to convert. But we need to count these shares. It's there. This is not options or warrants. It's real shares with 40 votes each
you're wrong. Fully diluted, O/S is more than 300M. You need to consider they will convert it.
this is what I'm saying. They did not have to increase the A/S for the moment cause they transfered in preferred. But what do you think they will do with their preferred shares? Throw it in the garbage? So at some point, they will have to increase the A/S just to convert the CURRENT preferred shares.
Think fully diluted not O/S
from the 10-Q, not from me
The Company currently has 15 million Authorized shares of Blank Check Preferred stock. The Board of Directors feels it is necessary to create two classes of Preferred stock Series A and Series B. Each class shall consist of 5 million shares each. The Series A shall be used for Officers and Directors only, this class of Preferred shall have both Conversion and Voting rights attached to it. Each share of Series A Preferred shall have the Right to convert in Common stock at the rate of 1 share of Preferred converts into 40 shares of Common stock, each share of Series A Preferred shall have voting rights equal to 40 votes per share. The Series A Preferred Stock may be converted into Common Stock except to the extent that, at the time of conversion, there are a sufficient number of Authorized but unissued and unreserved shares of Common Stock available to permit conversion
No, they were subtracted from the float giving them the ability to issue new shares. Their preferred are on the side until they want to convert them. At that moment they could decide to increase officially the A/S
did you read the 10-Q? You should before saying I provided wrong information.
Subsequent Events
On July 19, 2016 Derrick Lefcoe our sole officer and director converted[color=red][/color] 10,000,000 shares of the Company’s Common stock into 250,000 shares of the Company’s Preferred A series. The Preferred Series A has been approved by the Board, but has not been formally created by the Company yet.
On August 3, 2016 Experience Art & Design, Inc. executed an Asset Purchase Agreement (APA) with a Seller on the East Coast of Florida to acquire a green dry cleaning processing plant. The operation will be re-branded under Metropolitan Dry Cleaners. The processing plant currently averages 7,000 pieces per month with an average ticket price of $5.00 per piece, and has seen consistent increases in monthly revenues since August of 2014. Current operations include both drop-off and pick-up services of both Dry Cleaning and Laundry services, catering to a higher-end income demographic.
On August 8, 2016 Lawrence Gorman, a company director, converted 25 ,000,000 shares of the Company’s Common stock into 625,000 shares of the Company’s Preferred A series. The Preferred Series A has been approved by the Board, but has not been formally created by the Company yet.
On August 16, 2016 Experience Art & Design, Inc. executed a Stock Purchase Agreement (SPA) with a Seller to acquire a dry cleaning processing plant and two drop centers located near Fort Myers on the West Coast of Florida. The operation will be re-branded under Metropolitan Dry Cleaners. The combined entities currently generate over $400,000 and had generated over $1 million in previous years. This transaction had previously been announced in March 2016, and the executed SPA concluded the renegotiation.
The Company currently has 15 million Authorized shares of Blank Check Preferred stock. The Board of Directors feels it is necessary to create two classes of Preferred stock Series A and Series B. Each class shall consist of 5 million shares each. The Series A shall be used for Officers and Directors only, this class of Preferred shall have both Conversion and Voting rights attached to it. Each share of Series A Preferred shall have the Right to convert in Common stock at the rate of 1 share of Preferred converts into 40 shares of Common stock, each share of Series A Preferred shall have voting rights equal to 40 votes per share. The Series A Preferred Stock may be converted into Common Stock except to the extent that, at the time of conversion, there are a sufficient number of Authorized but unissued and unreserved shares of Common Stock available to permit conversion.[color=red][/color] Series B shall be used solely for the purpose of acquiring assets, this class of Preferred stock shall not have voting rights or be convertible into Common stock. The Series B Preferred shall have a redemption feature which will allow the Company to purchase back the shares of Preferred B at the agreed upon terms with each party.
in fact, there is dilution. They created a new class they can convert at a ratio of 40 for 1. They transferred their shares there and this means new shares available. If they exercise their right, this is 200M new shares
A/S is maxed but management is converting their shares into preferred. O/S is now lower and they can issue new shares. So it was not a tactic
you're right. Thought the 10M was included but it's subsequent event. So we can think they did the same this week. Now confirms why the T-trade. In that case, be prepared for an increase of SP soon. Exactly what happened in may and june. Cannot trade but following and hope the best to all
in the 10Q the conversion in preferred shares is there and the O/S is 199M
That was my guess but it seems they would have to file it on NVSOS before and it's still at 200M there. Don't know what to think about it
the name reservation is expired
only 91K before max A/S as of last 10-Q.
199,909,600 issued
yes! could be a good sign
unless he does not attack someone on the board or if the subject is not related, we cannot moderate a post. Who knows if he is or he is not right?
As I said, this is a guess. No problem if you're right. But remember we were asking who was selling in may and we have the answer in the last 10-q
we will see. Don't forget he can increase without A/S a meeting and the delay to file. He would not be able to do this in Canada
my guess is the company increased A3S and issued new shares. CEO said he won't pay with shares. Did no say he won't increase A/S. We should learn it in few weeks like we did with the strong selling in may
When we read 10-Q, we now know who was the big seller in may-june
You forgot no change in share price
But we still don't how acquisitions are paid. Last PR said all stock exchange which means dilution
Funny how it's always in a month