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That's cool bro... My point is just that I see all the time that L2 premarket can look one way, then at open it all changes drastically. So, just take it with a grain of salt is all... GLTY as well...!
L2 is useless premarket on OTC... It will change as soon it opens... Just like with everyone claiming oh it sooo thin.. Etc. lol. MMs runs this stuff, you cannot rely on L2 for much of anything here... Changes every minute. imo of course.
Hey DrugTester, this is OT but since I first heard about CD*T from you I wanted to ask if you were still in and aware of what is going on over there? Haven't seen you post about it, so just wanted to give you a heads up, pretty interesting situation over the right now. Just an FYI. Take care bro. Thanks Man!
You have to a lot to maybe get more than 1 to convert at offering. Like $10k or more from what I understand. If I were you I would hang tight. Jmo
Nice. Hoping for the best with this and CDF*!!
Thanks and GLTY!
Thanks Rigg. No estimated time frame?
Love this stock! CDFT!
Hmm. And it won't let you buy? I bought 2 mil this morning earlier then my 3rd just filled a little while ago. A friend of mine was unable to get any today due to DTC. Not sure bro...
There is a chill, I was able to still get a few mil today in ETrade, but I guess TD users cannot?
No! I posted this info earlier... The number of preferred you own has nothing to do with the amount you will receive. It is based on how many D holders there are divided into the 30% take of D revenues... Someone who owns 10k+ preferred, like I will have, gets no more divi than someone who owns 40. That part kinda sucks for us heavily invested here.
In response to the benefit of owning more preferred shares for investing more money than a minimal amount, we found out this... Dividends will NOT depend on how many preferreds you own unfortunately. The 30% allocation to divi's will be divided evenly amongst all preferred holders. Yes, this kinda sucks.
We are told that most likely C holders will probably buy out the D holders who only have a few shares as they will want to get the group of D holders down for dividend payments. Now, we do not know yet how this would happen, if it would be a mandatory thing if you only own a few preferreds etc... We are still trying to get that cleared up.
Of course remember, if you decide to convert even 1 more preferred share after the initial, you can convert 1 per year, you no longer will receive dividends at all on your remaining preferreds. So, they do have things in place to keep this under control. But even so, just the initial 100k should make you more money than you could have ever made on this as a penny stock play... Then to be able to convert 1 more per year going forward is pretty sweet too.
GLTA
Ok, but you also said the $2.50 was per preferred. And it is not. GLTY
Thanks Roth! GLTY
That sounds awesome to me. Not sure I buy anything with the word guarantee in it. But I do hope it happens. Jay did tell us that they are lining up underwriters for this so there will be buyers. Go CDFT!
Guys, the $250k is PAPER MONEY! They aren't paying out cash to us. The 100k common will be at $2.50 each, so yes $250k on paper. But you need to SELL them to turn it into real money. At the IPO of the new company it will open at $2.50. Will it go up or down or sideways? Who knows. Will there be demand for all our supply? Who knows. They think and say there will be. They are lining up underwriters for this offering. So yes take everything with again of salt. But even if it drops from $2.50 to $.25 on opening day. That is still $25k for your 100k shares! Pretty good risk/reward scenario here! Oh... IMO, of course.
It is based on the common share price. And yes on paper 100k shares is $250k. Will you be able to unload them for that? Hopefully, but no way to know.
Actually it is exactly the opposite. Even if you are not in right now at all. $50? Come on...
The point here is that even if you do not trust or believe in what CDFT is doing, it is foolish to not give it a chance for such a small amount of money. Carry on...
The current common shares mean nothing bro... Hopefully after the 13th the longs will be able to dump for a profit. Because after this happens, there will either be an RS or the common shares will convert to preferred shares of the new company from the acquisition. It is all about the non dilutive preferred shares that will give you that 100k common at new price on big board. It is really quite simple.
There is no minimum... This was confirmed by Jay King.
You are right. What a deal! Spend $50 for a chance at 100k shares starting at $2.50. Better than a bunch of scratch off tickets! LOL. I know you won't ever see it this way. And that is ok bro. GLTY
Another PR for what? For the pps that the company no longer cares about because it does not affect the big picture plan that is now in place. You really don't get what is going on here do you? Not about the commons anymore bro...
It is actually not unknown Pitt, you will be able to convert 1 preferred share to 100k common per year. But, if you choose to convert any after the initial 1, you lose the dividend on any remaining preferred shares you own.
Post that email Pittman, because that is not what was said on the CC.
Yeah. You right. Not worth investing like $10 on the off chance they may actually know what they are doing.
Smh
You can only convert ONE!!! It is simple and been said a ton of times on here. You obviously are doing this on purpose. -sigh-
What significance does this have Pro? I don't understand what it means. Thanks!
All I can say is, those of us who were on the CC are posting what transpired. I guess you take it or leave it at this point. What I have posted today is exactly what we were told. The exact answers to questions I asked myself. Do I know every last detail? No. There are some things we don't have concrete info on but to me the few things I don't know does not affect my decisions on the stock going forward at this time.
They are allowing us to convert 1 - 5 shares for the offering. After that it is 6 months to convert more at a rate I am unsure of. Also, as I posted earlier, if you convert any more after the offering you give up dividends on the remaining preferred you hold. All these details came from the second CC. It was very clear.
Right. He explained the two scenarios that I posted about earlier. It is one or the other and we just have to wait and see. But even if there is an RS the preferred shares are protected. This is overall, great news.
It was discussed on the CC.
Correct, it doesn't say that. They were very clear that there are two scenarios. They will be acquired OR they will do a reverse split. You will know which once they make it public. Your preferred shares will not be affected by an RS. I already posted this today. Geez...
There is no guarantee you will get $2.50. That number is used for two reasons. To calculate the number of preferred you will get based on your total investment. And it will be the pps at the offering. But once it goes live it can go up and down just like any IPO. But then again, even if you sell at $1.50, it is $150k you didn't have before, from shares you were given for free.
I agree it was confusing in the PR. I believe they left the PR vague intentionally. They have very specific plans.
Zo, the rate is not guaranteed at all. That is the pps when it goes public at the offering, it can go up or down. Just like any IPO. Also, the dividend rate is determined on income, not a certain price per share, so who knows if it will be a lot or not much at all. Also, if you ever decide to convert any additional preferred shares after the 6 months, you lose the dividend on any remaining preferred you hold, if any. So it is an all or nothing deal after the initial conversion. I am not sure of the conversion rate of preferred to common after 6 months either, but I do not think it is 1 preferred share = 100,000 common. That is only for the initial 1-5 the way I understood it.
And your point is?
Do you not understand what convertible preferred shares are? They are non dilutive so an RS, if that is the way they go which none of us knows yet, will not affect the preferred shares. Correct, who knows how much value they will have down the line, for dividends or conversion after 6 months, but for each 1 that you can convert to 100k common to sell at the offering are not affected by an RS.
This is correct... The company did this purposely to give the shorts and bashers a chance to invest as well as the longs...
Maybe you should have called in to the CC, instead of just continuing to babble on about this... All questions were answered very clearly.
Yes. After the 13th you can do whatever you want with the common shares you own... It does not affect the preferred shares you were granted as of the 13th.
How do we figure out how many preferred we will get? Thanks!