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It'll happen. When they get desperate to move shares, they can run it down to $0.0006, since they are sitting on the bid at $0.0005 now.
It'll happen once they have a large enough bid to dump into.
Lets hope so. It does seem to pop about every 3 years.
If you're gonna buy, don't pay more than $0.0001 for it IMO. Berman has endless shares to dilute, and has no problem running it back into the ground over and over again.
And... Back to no bid. Shocker. Scam.
Yes, they need to file for large public offerings or changes to restricted shares. Conversion from debt holders does need a separate filing because the possibility is already defined in the quarterly or annual filings and is already considered part of the company structure. The AS is just a limit to the number of shares a company can move into the world. They can change that number with proper approval.
No. Its a publicly traded company already. They can change the AS with a filing. I've seen countless OTC stocks increase their AS over time. They normally start low, and slowly increase as needed. Eventually they get to the point were they decide to do a RS again.
Next week sometime.
They did. The AS was 50B originally. They can increase it from the 5B we are at latter if they need to.
Hopefully. Maybe they wanted to get those filings revised first, and then get the attorney letter out.
If the shares were "exhausted" as you say, the OS would be 5,670,596,606 shares, which is what would happen if all the debt holders converted their shares to common stock and dumped them into the market at the same time.
That's my guess also. It allows them to build up some bid support to dump into, and then they don't need to lower their own bid (which is still sitting at $0.0005 now).
Yep, looks that way.
Quarterly out now (revised Nov 30 2023)-
Interesting how they keep revising these filings.
https://www.otcmarkets.com/otcapi/company/financial-report/394074/content
We should see an update today, but maybe Monday. They don't have the bid support right now to move the amount of shares they want to, so sometimes it takes longer.
They will update it to the real number once they meet their quota for the week or day.
Down the drain. I like to think of them as red panda faces, it's less depressing.
OTCN was sitting on the ask (they had the lowest ask price).
I understand. No problem. Thanks for what you have done already.
Please ask him if they have applied for a ticker symbol, or if they are waiting for SEC approval of the S-1 first.
I have talked to Jeff by text, but do not (and will not) invest more in this. I am stuck here as all the old investors are.
It certainly is an odd company.
They filed with FINRA, it wont show up today. FiNRA filing is the bare minimum for OTC markets, and easier than SEC filing. This company is delinquent on SEC filings, so it would be more complicated and costly for them. For example, the SEC says the ticker THBD is still registered to New America Energy Corp. since they never told the SEC about the name change. No surprise, as this compay always does the bare minimum.
AS reduced to 5B shares 3/05/24
OS updated to 123,064,230 3/05/2024
Restricted 13,921 3/5/2024
Yes, they can apply for the change at any time, and yes, it will most likely be approved (unless their filings are not up-to-date). It must be done in two filings in this case due to the incorporation rules of Florida. Just filing with Florida will not magically change things on a federal level. Jeff C. is easier to get in contact with. Joe has never responded to me.
The par value is based on the SEC determination of valuation. It makes no difference what the state says (from the SECs point of view).
Wrong, it is two separate filings. It is an SEC form 8-K in most cases.
The transfer agent is not involved with the AS change. The company would need to submit paperwork to the SEC / FINRA, and that is the kind of paperwork that requires approval by the SEC / FINRA, since it (effectively) changes the par value of the stock.
Can you ask Orie what ticker symbol they have requested? They may need to get the S-1 approved before requesting one (not sure).
We would find out the ticker sometime after the SEC approves the S-1, which would be (if the SEC has no problems with the filing) Monday March 8th at earliest. Palisades may eventually create a website.
Some additional time may be needed after the S-1 is approved for Palisades to start actively trading though. For example if they have not started the process of requesting a ticker symbol yet in anticipation of the S-1 approval. But at most, I think this would only add 1 month to our waiting time.
Next month (hopefully March 7th) should be a great time. We will see what they come up with for the opening price.
Any news would be great Tad... What the hell is going on...Tell us.
Criminal Berman / Canouse ventures must be avoided. I would add THBD to your list. All garbage. Stay away. You will make more money, and be far safer putting your money in any municipal bond.
They will run this bitch down to no bid like you said. Criminals. Maybe they even declare bankruptcy and screw everyone that bought it on the way down. I like the little red bear faces, they're cute.
I'm sure Fair is looking for a way out. But if he sells it back to Canouse, Fair looses all the assets he had when he came into this. Maybe he doesn't care at this point though.
Their website has been down for a couple of weeks now, so maybe they are ready for bankruptcy filing.
Lets hope he pumps this up to $1 per share so I can make some money!