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Could be dead. But they are still operating as best I can tell.
We should probably know something for better or worse in the next few months.
The recent article someone just posted seems to just be a re-hash of prior events from the fall but I do not remember when the national guard project was done. Does anyone have that info?
right idea but wrong math
The convertible shares that are convertible into 5.00 worth of stock would be roughly 40 shares per share at current prices of 12 cents (take conversion price divide by current stock price).
That means 1 million preferreds converible into 5.00 of stock = 40,000,000 possible common shares.
About 6 million just came out.
Now this would not bother me in a one time deal or if there were 10 million or 15 million shares to spring out of nowhere. But just the C shares alone can sprout quite a few common shares, like 60 million or more etc.
the A shares seem to be restricted but the C ones can just be registered and sold by the company.
I am not sure about this guys past but hope he is by all that stuff now. IF he was smart he would restrict or get rid of all that convertible stock and let this thing play out over 2 years of growth. people would make more money as would insiders.
He has a potential gold mine here. with proper financial clean up this could be over a buck a share. With this set up who knows.
Thanks for the work you do with this chart. It appears fine on my screen. it is a good reminder that the paydays from issuing stock are all but over pushing the issue of workout or fail.
I have not been able to get any other information regarding Windstream of late but will try again this week.
I did message them stating that I believe investors are due for an update. Bates did do an update last year in July so maybe he will do one then as well.
Does anyone know when the next financials would be due is it 6/30 or 7/31 for the first quarter? not sure if they will blow by that date as well but perhaps if it is being down perhaps both the year end and first quarter are being tackled at the same time.
Thanks to everyone both positive and negative that has offered their views here. best of luck with all your investments1
I went to otcmarkets.com typed in the ticker and clicked "filings" then pulled up the pdf of the financials
On page 4 it actually still shows 25 billion shares. which i think is a mistake .
in the notes of the same financial it states this(page 15 center of page "common stock"
"As of March 31, 2016, SAKL was authorized to issue 990 Million shares of common stock with a par value of
$0.0001 per share. As of March 31, 2016 and December 31, 2015, the number of common shares issued and outstanding
was 144,601,556 and 135,999,890, respectively. The common stock holds voting rights of one vote per share. It has no
dividend or preemptive rights."
Where are you seeing the 4.25 billion ? I remember when I first came to this stock there were some spots like when checking quotes where the shares outstanding showed different numbers. it was one reason i missed out.
This stuff has to be cleaned up. I think management is working towards that goal but the sooner the better.
The form D is just the new batch of shares and does not apply to the existing preferred shares. The Form D is what is show above in the links.
The preferred c can be issued if the company decides to register them as it did when it just released 6 million of them.
I understand where this guy is coming from but the company just used the shell. Any shares which probably do not even exist anyway would be worthlessly diluted any way. Even management's shares are.
As for the town, it would not be the first time a deal went sour like this. Here near me many years ago macys and another store got millions in tax breaks to stay but took them and left anyway. Windstream is still providing jobs there last I checked and maybe can work things out.
You are smart to be cautious here. I could bring a lot of buying to this stock but that preferred C stock convertible into so much common stock is worrisome. It is unusual even in small OTC companies. The problem is not the 6 million or so shares that just popped out but the prospect that 6 million more can come at any time about 10 more times . I know that is not what is intended and I truly think management is trying to turn around a sloppy capital structure . I was impressed they responded clearly and accurately to my questions on this matter. What I think they should do is lock up 90% of that stock for a year or 18 months and let this thing play out and move up along with all the positive press. The higher the price, the less dilution which helps everyone. This is because those Preferred c shares are convertible into dollar amounts of stock.
Example. Say 1 share is convertible into $5 of stock. At current prices that is say 40 shares. However if the stock is 5 dollars it is only 1 share. If its 2.50 its only 2 shares. This makes a huge difference , so they should leave some open but lock up the rest. Any movement in that direction would bring in tons of investors.
I also think they made the right move buying up the biggest franchisee.
Lots of good stuff here and in a business model I think is the wave of the future.
good luck to everyone!
Ok thank you for your response, it was hard to tell from the information that was in the link above.
Not really worried about it if its common.
What kind of stock are they selling ? (see link above)
Right above these messages are some links to filings. The most recent ones says they are selling 1,000,000 shares of stock (the company is). but what kind of stock? Common ? or more of that convertible preferred? Makes a huge difference. That can either be 1 million shares total of 30 million potential if its convertible preferred. Anyone?
Hi, great for you man :) Good job
I hope you are not taking my post the wrong way. It was impressive they answered my question on their facebook page and as a CPA I tend to be a bit more conservative than most. Just keep in mind the move from .006 to 4 was big and the move from 4 to 14 was big as well .Its a different ballgame now valuation is getting up there but should be supported by continued growth.
I actually looked at this a while back and missed it because the share structure was confusing and I did not have all the new information as to the decrease in authorized shares etc. but at 14 cents it is a matter of how many shares will be converted and sold into the growth here.
I get the sense management is doing the right things here and have nothing bad to say.
I wish you luck and that your money doubles. triples again :)
I have posted a few similar things recently.
In regards to your post, I do not have a problem with management taking big salaries, it has been a long road here and there are numerous responsibilities, and after much research I can see that the CEO is trying to turn this boat which was a mess around.
I do think the Preferred shares are a problem however as they (as you can see) will cap runs in the stock and get a lot of shares out there. Now if you read carefully they are converted not into a set number of shares but a dollar value of shares, meaning as the price rises there is less dilution. So it makes no sense for them to register chunks now and let them get out there. They can make the same money later and insure all investment shares of their own for the long term are worth more by just holding back til the next few quarters come in strong.
In his response on the facebook page to me I think he is trying to say most of that should stay there but as an investor you just do not want to have 6 million shares be able to come out of nowhere 10 -15 times.
The other issue is we have to find out what they make from the Franchisees. Like what the franchise fee is, what the royalty or % of ticket sales is. Because approx 1/3? of the ticket sales are not corp events. This means it will not flow to the top line dollar for dollar as revenue. People are expecting 16-18 million in sales which might happen but if it does it might not all flow to the SAKL top line.
I tried to look for the agreements but the one link I found was pulled or dead.
I like everything about this company except for the share thing and not knowing the franchise deal.
I also feel they should pick up the Electric Run to add to their properties. They could be like a traveling Disneyworld to people all over the world. Its a great idea and fits with the times.
This company use to have like 25 billion shares authorized, they cleaned that up to 990 million but even that is too high and the capital structure should be cleaned up ASAP to give this the legs it needs.
The insiders do not come off as scammers to me, just cleaning up and learning along the way.
And I think the move to take over the major franchisee was a good one. They might need to handle more events corporately as some of the franchisees have messed up.
The company is doing a great job with marketing , promotion and performing. However, keep in mind Ticket Sales do not equal top line revenue. As pointed out in the press release some of that is franchisee ticket sales. This is why it would be nice to see the franchise documents to see what the company makes on that approx 1/3 of its business.
The preferred stock is not an issue just because of 6 million shares, but the fact that another 6 million 10 million or 20 million can pop out at any time. In other words the one time thing is not bad, just knowing they can be released at any time (the C shares) makes me a bit reluctant to pull the trigger on this one.
With franchised events, the company earns some up front franchise fee and a royalty or percentage of sales or something. They do not report Gross revenues from those ticket sales , just the corporate ones.
Thank you. :)
Can you post level 2?
Wrong Eddie
.006 to 14 cents no reverse split in that move
Ill be honest, I like this company, i am all over the reason for their existence, the play on the future of "Experiences" over "stuff you buy" . it is exactly the type of thing I want to be involved in and have been talking about even since before I heard of them. I did (due to my own fault) miss a chance to finish my review of this and get in early a while back when I got distracted by something else. The thing that held me up is this share structure. It was messy and continues to be a potential cap.
I do believe owners and those who have ponied up have the right to make money too. And I give high marks for the accurate and quick response to a question by the CEO.
There are a few other things going on. I believe the company has to continue to pick up franchisees who are not performing. I noticed the Philly slide was cancelled? And something in Minnesota was cancelled in an unusual way as the franchisee couldnt get the preparations in place. These are not SAKL created issues but common with franchisees and dealing with events. SAKL for its part did an amazing job on the Philly deal trying despite the craziness offered by city officials.
There is lots to like here but the bottom line is price is affected by stock supply.
Personally I think unless the stock is restricted it might be better to just unleash them all get rid of the convertible and let it fall so it can build knowing that rain just wont fall from the skies every time 6 million shares are releaased.
Also I have been trying to find out what the franchise deals are like , anyone have any info? The reason I ask is that company events show revenue to bottom line. Franchise events show franchise fee revenue and usually royalties etc which will be less gross but provide profits and limit even success risk to just less income (not expenses over income)
I looked everywhere but cannot find what type of deals these guys are signing with franchisees.??
Hey AnthonySS,
Yeah I am not trying to be negative, I just pass along whatever I cant get. Do keep in mind it is more than good news we need, we need a workout but just not sure anyone is "working on it" LOL But you never know. Everyone is pretty negative on Bates but to me he seems like a survivor, every once in a while people pull this stuff off. Another stock just went from 25 billion shares an a convertible nightmare at about .006 to 150 million shares or so and a stock price of 14 cents. So it does happen.
This was my big concern I posted a few days ago.
The company answered my question on the facebook page (see the link someone else provided in this thread)
While it was a good answer and owners are entitled to make money the problem is when 6-7 million shares come out of nowhere and this can happen 10-15 times it is going to cap the gains in the stock like it did today (along with those profit takers).
Hopefully they wont approve more conversions until this thing is in full swing.
Some info for you.
I contacted the person that contacted me a while ago that knows some of the parties in Windstream. He did not have much to offer but mentioned that he did speak to someone there (wont mention the name but confirmed he works for Windstream on my own) and it appears Bates is not communicating well with other people involved. From my friends perspective he does not thing they can stay in business as a going concern much longer. He stated Bates is mostly on his own (gone Rogue) and trying to do deals.
I know this is not much to go on but out of respect for the contact I did not list the name of the person he talked to.
Well some of the money collected from ticket sales was for events that have not happened yet so there is 2 million plus in deferred revenues on the balance sheet that will be in income next quarter (assuming the events are all done by next quarter).
But there are a few things to mention, one of which I posted about prior is the huge G&A expense on an ongoing basis. The second is the conversion of shares from the preferred. Basically they can decide or not decide to convert any time they want so I think I saw 6-8 million shares? coming from the preferred to common.
This is where the problem is as this moves or stays where it is they can just keep converted Preferred shares and suck the money out, only some of those were restricted unless the notes about it are not correct
Regarding the financials I was just reading the annual report and there are some eye openers in there.
The Preferred A and Preferred C shares are both convertible into common stock at huge multiples per share based on current price. Based on todays price roughly another 80,000,000 shares (make a huge difference). However that is not all, they can issue more of such shares up to what has been authorized (read that section note 12 of financial)
Then it was curious as to why sales more than doubled and the company showed a loss after reporting a good net income the year before on half the sales. General and Admin expenses rose over 3.5 million or so and the salon business loss almost 900k. Something odd is going on here for sure.
Lots of potential here but there is always something weird in the mix where you do not know the real deal.
Toxic Avenger was a great movie! :)
Toxic, obviously you are right in terms of the past action, however many of the current crew got a bit of stock only when it fell to .0001 with a valuation less than 500k.
The company is operating, I spoke to them a few weeks ago, the Indian subsidiary is operating and hiring. Although it is possible the company somehow gets absorbed into India, effects on US shareholders unknown. It is also possible they file bankruptcy or go dark for a long time. All those things are true and most likely failure is in the cards. I said that the first time I posted here.
However unlike many other such companies that followed this route, sales have gone from 800k to 1.7 million to 2.7 million (9 months) and probably finish out at 4- 4.5 million for 2015 (given the October close of Argentina).
They have an actual product, actual and growing sales, and had been reporting right up until the annual was due. The game may very well be over, but who knows.
We all know the stock is not moving until things get worked out (if they can be) with the convertible debt and other issues.
Its easy to say the stock droppped from a pumped high to .0001, but some of us are here at .0001 in a binary play. If it turns, its a multi-bagger, if not its a 100% loss
It has been really hard to dig up much information.
My thoughts in general is that this whole collapse has happened very quickly with the real meltdown just happening last fall as the company was ramping up India and finishing the Argentina job.
It could be that finally , between the India sales, the finishing of the Argentina project they finally reached critical mass and are large enough and have the capability of taking it to the next level. Remember this company has grown from 800k to 1.7 million to 2.9 million (for 9 months), probably close 2015 at 4 million plus.
In addition the mobilemill could add up sales quickly as a high cost item and they were due to be in production late last year.
Oil prices started firming some and this is helpful. My guess is that we should know something soon. The company was fully reporting up until the end of March and is now late on filing both the statements and the 8-ks.
We do know that it could not go on much longer the way it was and its actually good conversions are down as that would make any potential turnaround value go away for existing shareholders, even us .0001s.
There are a lot of moving pieces here. There is the Indiana loan, the Line of Credit, the convertible notes and then there is cash flow to do the work and the nature of how things will work with the India operation and reporting. One hold up in the financials might be a new auditor and substantial operations in India and the reporting necessary.
By the end of summer I think we know one way or another.
I totally agree with what you are saying. Sometimes when you post something you just think you are getting the main point across but are not so ill explain.
We all know this company got pumped from the newsletter so the 160 million dollar valuation is bogus, but yet people still bought the stock up based on the idea and much less sales than we have today.
I think the dilution clouds peoples judgement as to what is going on here. Essentially 4 billion shares (rough number as 8k is delayed) is a lot of shares but at such a low price per share the current value based on the stock price (not talking about what the company may or may not really be worth) is about 400,000 dollars.
Right now there are numerous companies trading with way higher market caps with ZERO sales, and in my opinion less potential. So what I did is said , assuming they can fix the balance sheet what could the potential valuation be and I feel it would be between 10-20 million.
In working the numbers the current valuation is so low that someone could buy a major stake, put in the money and make a good chunk of it back just in the increase to normal valuation. This is rarely the case in turnaround.
Example - Potential investor buys 400,000,000 shares cost $40,000. I use this number as it is roughly 10% after which he could by more but would be a reporting shareholder due to ownership.
He then puts in 3 million dollars (rough number) to take out convertible debt) and 1 million in working capital. His 400 million share stake could then be worth 4-8 million dollars (essentially all the money he put in). Mainly because it is trading at such a huge discount to a normalized market value based on sales that this is possible.
Other people must see this, this is what i am counting on. WE know Typonex was up to 10% with the filing a few months ago, maybe a workout is in progress.
I have not spoken to the fellow that met Bates since my initial contact but ill shoot him a message.
Assuming we have approx 4 billion shares outstanding, with future conversions slowed if not halted completely. We have a valuation (market cap) of $400,000.
Prior high market cap was 160 million.
.0050 is a market cap of 20 million
.0025 is a market cap of 10 million
and so on.
Based on my initial analysis if all goes the right way potential market cap would be between .0025/.0050 . This is down from .0100 due to dilution since I first looked at it.
Recent WSTI news from a few days ago.
Windstream mention in Power Tech magazine
There is a possibility that they file Chapter 11 and shareholders still have value (as long as they dont file a chapter 7 ).
Right now the one big negative is that they went from being a fairly timely reporting company to one that is late and having a warning on the ticker .
No sign of any other news coming.
I appreciate the info you put together on this dollar days stuff / Looks like conversion explosion is over and now its down to fixing things or failing one of the two.
Some interesting posts here. I tried to read them all to catch up.
obviously there are two kinds of people kicking around. Those that invested a big sum of money back when the stock price was much higher and who bought the hype, the rosey projections of 10s of millions in revenue etc. I can definitely see why these people are livid and feel like the whole thing is a scam. IT totally unraveled in a short period of time due to hot money in the stock which then sold short and the slow speed at which things got moving.
However there are other people that came in late like me and the price was no bid/ .0001 ask. Now you are looking at a company that is trading for a market cap of around 400,000. not 160 million. It is loaded with convertible debt but has grown sales amazingly over the last few years. I posted it before but its something like 800k to 1.7 million to 2.9 million for 9 months (probably over 4-4.5 million for the year. It has two plants, is selling these things everywhere and signing up distributors.
The thing is , is something once valued at 160 million worth turning around to potential investors. It might be , it might not be, but the valuation even given the dilution is really low. So its a binary play, they find a way out or they dont. Just suitable for a small amount of money in the hopes of many multiples if it works out and minimal loss if it doesnt .
Their debt problem is about 10 million. That is not huge money these days. The convertible part of that is maybe 3 million. The credit line would have to be renewed and the Indian loan worked out. But considering the India operation sales of just 40% non controlling interest was worth over 2 million before it even launched I have to imagine there are ways out of this.
I do not think it is a scam at all. The company was fully reporting until recently. Unlike others, I give Bates credit for surviving instead of closing in which case there would be zero chance. If this can be worked out prior promoted stocks run hard. we have had volume in this thing when there is no reason to have volume. If they get those converts out and money in this thing can easily be a 50-100 bagger.
a 100 bagger from here is a valuation of 40 million, roughly 1/4 of its high valuation before it even had meaningful sales but in order for that to happen it would have to
1- Get rid of toxic debt
2- work out Indiana loan
3- renew credit line or have access to some capital.
Money needed low end 3-5 million high end debt free company 10 million or so.
not a lot of money these days
how many days of ZERO volume ,, 3?
Looks like ability to raise funds through conversion seems to be over for WSTI, hope to hear some news about something soon LOL
I greatly appreciate all the work you put in to posting the news articles and magazine mentions. Just to aid anyone looking for page 6 in the magazine one, it is really page 9 of the file (the arrows at the bottom will show page 9. So flip to 9 blow up using let hand +/- key. Look top left page. Good article.
The problem here pmello3 is that the stock can literally not move at all no matter how much investors feel it might be worth moving higher.
All the buying for at least 6 months has been at .0001 with no bid. no matter if its 1 million shares or 100 million trading the company just keeps issuing shares. It has used this investor interest to use an exemption in the law for issuing new stock through these convertible notes.
As long as there are endless shares being issued the stock cannot move up.
It is also delinquent in its filings. But had a pretty good record at keeping current before so I would expect they should file, maybe doing year end and quarter at once with lots going on has delayed them.
But basically while I see the same potential here as some other people they have to :
1- Take out the convertible notes
2- Work a deal on the Indiana note that allows them to stay in business and pay back slowly or refinance or pay it off with capital
3- Get current on filings.
It wont take much money to fix this thing, a 100% fix would be less than 10 million. A good enough job about 4-6 million.
But it cannot go higher until those convertibles are out.
Say you bought IBM stock at 100 dollars a share and someone , lots of people are lined up to buy it from you and you think its going up, but then IBM walks in front of you and hands those buyers their own shares at 100 and there is no end to the shares they have to hand the buyers. That is what is going on here. It cannot move.
Keep this board active! This was the best stuff posted in a long time.
If I had to guess they should file or say something by late june or so
That was middle of last year though.
Overall we have confirmed they are still in business , still selling product and still hiring and installing in India.
However there are some big issues to fix. Heavily promoted tanked stocks usually bounce well but any demand is met by newly converted shares so until/unless that is fixed it is not moving. Though this does occasionally have a bid now sporadically.
Once the convertible debt is handled this can go up because the valuation is ridiculous. Based on even 4 billion shares the valuation is about 400,000.
It is still a crapshoot but lots of money out there.
I would give chances as follows
70% files bankruptcy
10% works a deal for Indian operation to stay afloat for a while long with little benefit to shareholders
10% workout is done (insiders buy up a ton of stock at low prices as they have been diluted out of the game as well) then company gets money buys and cancels other shares.
10% no activity, eeks along as is for another year or so.
Thanks! missed that one.
With your help I found the Greenbolt Facebook page which has quite a bit of Windstream stuff on it including videos of installations.
Greenbolt Facebook Page
New videos came up from India
These look to be posted yesterday
Windstrean -India
No idea, I would have thought, even if it ran beyond the due date we would have seen it about a week later. Maybe the auditors are doing the year end and first quarter and maybe they have to clean up some India stuff so I would guess since most accounting types are busy to April 15th, maybe the end of May. But there are also loans due and other stuff going on so perhaps the company is trying to clear things up.
There is and has always been a good chance they will just file for bankruptcy.
Id like to know how the story ends though. I mean all indications I have is that India is producing and selling product. The company is still in business and at least management owes its shareholders some sort of news release.Even companies failing do that.
ARCHI? Still undervalued?
Where have you been man? Anyone know where he went?
I wish the facebook page was still up so we could see/hear the comments from all those who said "their life was being changed by ORT".
some info from conversation with company today..
A while ago a contractor friend of mine was interested in getting more info on the company and I told him I would get in touch with them (Windstream) as to how it all works. I pretty much put it on the back burner for obvious reasons as we are all wondering about the life or death of the company here. However since he called me today since he mentioned the systems to a prospective customer who was curious I decided to make a call.
Spoke to someone in Indiana in sales. I did not ask him any financial questions or anything related to the company in general so as not to put him on the defensive but they are in business and have distributors in Texas and Florida so far. No one in my area (CT, USA). They have a new product that produces about 10kw with the wind raised somewhat higher about 20 ft high he said which is about enough to power most homes he stated.
He said most people do not buy single units unless they are doing some testing and that they try to sell to people installing a bunch of them by the pallet load or so (usually about 20 units).
HE was very helpful and informed and ill pass along the info. My friend can either contact him through the website or his mobile phone to chat and they will send more info and have the installation videos which you have all probably seen.
Just figured I would pass this info along. My friend is a general contractor who recently has done a lot of work for affluent people interested in alt energy options for their homes. I also have a co-worker who wanted to buy some for her property. As I stated i was a little reluctant as we do not know what is going on here yet but ill try to get some more info and put people in touch to see what the deal is.
Very unusual trading lately. Any of you seeing this?
Today during the day there was a .0001/.0002 bid ask again. More shares started trading now no shares for sale at .0001 but no bid. Very odd.
Could this be happening because of the financial statement delay and inability for more share conversions? Is is normal for market makers to put all their stock higher with no news and not trade it on purpose because of the delay in financials?
Just looking for thoughts on things.
Have not seen this before.
It is 1/1 on here (see chart) and 1/1 on TD Ameritrade now. I suspect only because the other market makers did not move enough stock from the 2s to the 1s today. Temporary.
Thanks man! I did not know that! I missed it. I really appreciate the info, maybe something is happening behind the scenes here. I am sorry I did not understand your first post correctly. Keep up the info flow though, seems like something is up ;)
Sorry I do not think I was clear in my prior post.
This stock has been "no bid" meaning you could not sell it for a long time now, even at .0001. However when I visited WSTI board here it showed a bid on the little quote graph and so I double checked it and sure enough there appears to be a bid showing up in my TD Ameritrade account now at .0001.
When you are seeing those 35 million taken from .0001, it is actually an ask being filled for people converting shares so a buyer came to fill that ask as there was no bid for a long time up until today.
Can anyone confirm this on their screens?
Do we have a .0001 temporary bid?
It is showing up in two places, probably only because there is an order for more than 5 million shares and all the other sellers are at .0002.
Interesting if true.