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Rule of thumb: Ellipses are used so that an author can frame the quote as they see fit.
Why not post the entire answer?
Why not post the exact question that was being asked?
The excrement is getting thick around here these last two weeks.
IMO this is going to break big time one way or the other; it's all in the hands of Ed and the rest of the MYEC team, and not posters on this board.
Will they actually meet a firm deadline (June 29th) for the app submission?
Who are the merchants that Avidia has already signed up for the App?
When will the auditors be finished with Seergate's Financials?
Will the UBA deal/product actually launch in June (which Ed guaranteed would happen)?
Step right up and place your bets.
Facts about TCA:
1. Conversion of the 500k, if it were to take place, will happen at the end of July.
2. Conversion is not a unilateral decision (i.e., TCA can't at any point say they want to convert as both parties must agree)
3. Conversion is at a 20% discount of the trading price so if converted the 40MM** or so of shares is going to have a negligible effect on the PPS.
There is an awful lot of dramatization/desperation in the tree shaking that is currently taking place.
**This number is based on the current PPS. If the Africa Bank, Apps, and Sionic App all come to fruition prior to the end of July then you're going to be looking at a much lower number of shares.
I think PennyStalker is correct with his guess.
Regarding South Africa, I believe what Ed said was that he never stated we were entering the South African market, which is much different than saying that we are not entering that market. Futhermore, I believe the only definitive statement Ed gave regarding the African deal was that Barclays was not the bank we are partnered with.
I agree. Incentives are needed to induce any behavior; that's just a basic principle of human behavior.
I'm not familiar with the exact cost savings for merchants using MYEC in terms of pure dollars and cents. However, based on Sushi Groove offering 15% off their customer's orders (per their FB page) when the customer uses the myEcheck option I'm guessing it's fairly significant. That's a significant incentive since 15%-off far exceeds the 1-2% reward the customer would receive using their credit card.
Ok, I'll bite; what's the "terrible news"? You've been quick to post email responses before...what's stopping you now?
As far as the recent PR's they are in fact on the OTC-MYEC news feed:
[url][/url][tag]http://www.otcmarkets.com/stock/MYEC/news[/tag]
Any other "theories" as to why IHUB hasn't posted any of MYEC's recent news? I mean other than negatively slanted ones...The theory that it's because Ed is cheap is laughable since every other major news outlet had the news including the Seergate Deal being on the front page of Yahoo.com's news feed.
Why does the IHUB news feed not have any of the recent MYEC news releases? Like the new 1.3B dollar bank partner or the live clients......the most recent news I see is from the beginning of April.
GO MYEC!
I don't know about Canada, but in the US it's not instantaneous:
Directly from PayPal's site: [url][/url][tag]https://www.paypal.com/us/webapps/helpcenter/helphub/article/?solutionId=FAQ1348&topicID=ADD_WITHDRAW_MONEY&m=TCI[/tag]
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Within a week? LOLzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
June should be interesting. Still hoping the naysayers here can help drive the price down a bit more. I'm looking to park another 10k into this in the .015 to .0165 range.
Probably right, but buying back in a little above where I sold is small price to pay for the substantial risk reduction.
Yup, your heads up allowed me to get rid of my huge bag of shares with minimal damage. Member mark for you sir.
Completely agree. I'll be looking to get back in when the waters have calmed a bit.
Yeah...just got too risky for me. I'll be keeping a close eye on it over the next few weeks. I still think it has a big run in it over the next 2-3 months but not sure where it will launch from.
Haha...I was out at 11 and 12 for a slight loss. No way I'm holding at 12 avg when they just about doubled the AS. Will look to re-enter if it hits my new price towards the end of June. Not going to bash though because I hope it still runs, it's just that the risk outweighed the reward for me once the AS was increased.
Yup...I really hope it breaks .0015 today. That would set it up nicely for tomorrow if the fins drop afterhours with an nice PR/letter to investors regarding the remaining debt.
Well I hope they wait until after the market closes to release the financials...gives another day for converted notes to be eaten through and/or for shorts to hang themselves. I'm all loaded up with a big bid at .001 in case it falls.
Wow...50% of today's volume was shorted. MM's and retail better take cover!!
LOLzzzzzzzz...my .0012 avg would say otherwise. If you don't see this as an opportunity then you shouldn't be tinkering around with securities.
33.5MM shares...this debt conversion is going to buy me a vacation home. :)
Picked up a couple million shares @12. Still on the bid for another 5MM @11 and hoping to get filled.
Time to get Active up in here!
I'm not sure what you are saying. Are you saying that you are laughing into Edward's rear with rent money? That's a really odd thing to say. If you are trying to say that MYEC is behind in rent then the phrase you are looking for is "in arrears". LOLzzzzzzzzzzzz
More than doubled actually! They were higher than I was expecting, and now I'm really excited about what Q2 results are going to be!
I added 250K shares yesterday because of the bank relationship, and not because of the pending app launch. While Avidia Bank isn't the largest, they are situated perfectly as a reseller being in central, MA. This puts them right in the middle of 3 of the 6 largest cities in New England (Boston, Worcester (closest city), and Springfield). The market potential there is huge both in terms of reselling myEcheck's products and also in terms of exposing the myEcheck name to a large market, and therefore building brand awareness.
With posts of that quality I'm surprised you have any followers. As they say, it's better to be thought a fool than.......perhaps you should take heed of that expression. LOLzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
Someone correct me if I'm wrong, but these shares hitting the market aren't for notes converted since February but rather they are from notes converted at the end of 2014.
Happy to get my 10's today. Now have a .0012 avg, and I'll continue to average down from here if the opportunity presents itself. The company's market cap is now less than last years gross revenue. Given the amount of debt paid off and the continued growth in revenue, I'm not sure how one can't see that this is extremely undervalued.
I don't understand what you are saying. Once the debt has been converted by the bond/note holder then there is no un-ringing of that bell. Hopefully they will be paying any upcoming notes off to prevent conversion.
Seriously? Had the order in for 10's as soon as they went on the ask and it never filled.
If you're not taking advantage of these prices then you do not like money.
You should "apology" to the board for posting the same exact posts day after day. Don't you have some letters to write pretending to be a Nigerian Prince?
Any thoughts about VFIN being on the bid @ 11?
Added more 13's and on the bid for some 12's. :)
Well with my margin account I can short @ a 15% interest rate of the borrowed amount.
If that information is accurate then this could be quite a nice run here if the Q1 financials are as good as some are expecting.
Well that's because those shares were issued 14-18 months ago, and they were issued as free trading shares. Those shares are a part of the public float, and given the age of issuance and the PPS run up to .08 I would imagine that they were all sold quite some time ago. So do you want to continue to talk about stock issuances from 1.5 years ago or can we move on to more current items?*
*That is a rhetorical question. I'm sure the same tune will be sung in another 18 months. "Hey remember 3 years ago when the company issued 650MM shares to clear debt off their books?" LOLzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
There's a note in there explaining that Smith is going to stay on as CFO until at least May 15th.
You're usually better at finding all the bad stuff no matter how minor, but you appear to have missed something so I'll rip the Band-Aid off for you.
The company converted approx. 15k of debt for their DTC eligibility (I'm assuming the debt was owed to MYEC's DTC sponsor) on April 2nd of this year @50% discount of the trading price from a day back in January 2014 so the issuance rate was .0016 which amounts to just under 10MM shares issued. I believe this entry is located on page F27 under "Subsequent Events".
There you have it....that was the worst item I found in the Form 10 do with it what you want, but don't say I never gave you anything.
Oh yeah and go MYEC!!
And one other thing. I'm definitely not an MYEC pumper; I see all the warts the company still has, but it's a far cry from when we were on this board 14 months ago. The company has really come a long way in a relatively short amount of time, and the likelihood of their success seems to improve with each passing month.
Go MYEC!!!!
Too much misinformation out there right now. Do you really think that MYEC is partnered with SunTrust? Wouldn't that have been the PR given their size? The answers to those questions are "No" and "Yes" respectively. Remember Ed said they don't need partnerships with banks in order to process, but they need to integrate which has taken forever.
The big deal here is that integration with SunTrust is complete so merchants who bank with them can process without a delay. That my friend is huge news given the size of SunTrust geographically.
That's not the whole truth though now is it? You're conflating "unlikely to be realized" with "never going to be profitable" which is incorrect. There are a plethora of reasons why the tax assets would not be realized. For example, if the company is expecting growth and thereby large investments in equipment moving forward (with its accompanying depreciation)* then why carry the liability. Another example, as mentioned in the financials, would be that if there is a significant change in stock ownership** then you can lose part if not all of the realizable tax loses.
*Profit is a tricky thing when it comes to accounting, and companies would prefer to have the least amount of tax exposure as possible. For example: Company A has 1MM in net operating revenue, but is able to write down the 1.5MM due to depreciation expense (whether straight line or accelerated). Company B has 250K in net operating revenue but cannot write down the income any further. At the end of the day Company B shows 250K of taxable income/profit whereas Company A shows 1MM of operating profit but -500K for tax purposes. Basically what I'm saying is that taxable income is a less useful barometer due to the continuing tax shell game played by companies to limit tax exposure.
**My take is that the company is going to be acquired at some point within the next 1-2 years.
Who knows maybe you're right and they will never be profitable, but I highly doubt that will be the case unless they are bought out prior to becoming profitable.