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the difference that makes this worse is that sign note holder is affiliated with potn, as a wholey owned subsidiary. Not a random person who purchased debt but a fricken insider. In 2017 alone the note increased by 1.2 million. its a total of a billion convertible shares. charles vacarro
very interesting. Wonder if charles vacarro has the needed licensing or affiliations the lawsuit speaks of.
got it, thanks. people must be partying tonight. peace
2017 cost of goods sold.....9.3 million revenue 14.5 million.
approx 2/3 of revenue for product from suppliers. Not great margin.
what does smh mean
sign notes 2.8 million, divided by conversion rate of .003, equals almost a billion shares to convert. Am i wrong?
reviewing 2017 financials
---only 87,000 in salary, payroll and benifits. How many employees do they have?
---they dont have inventory, they order exact amounts from suppliers to fill orders...i dont think they even msnufacture the product.
---sign notes are 2.8 million, in 2017 sign notes increased by 1.2 million
-----as of 12/31/17 there are 569 million outstanding shares, not counting conversions
didnt you post before that you were waiting for your friday paycheck to buy more? is your paycheck enough to buy 400k shares?
literally no choice but to release audit by march 31. If not, awwwwwwwwwwwwee, help. If not released, that means that contained in audit is worse then releasing it. ouch
the sources are the company's own financials and southridge's first amended complaint filed in federal court, not to mention potn ignoring inquiries on the notes and retiring shares
charles vacarro to mms:
"why arent you selling my 577 million shares, we are losing 2 to 3 cents a day with no volume. Soon you wont be able to sell any of my shares, dammit dump em now, dump them now....What about our deal, dont forget our deal, what are doing to us?"
snug, is your name from the old bar in newport beach?
yes, ameritrade has never had a newstory on this company, not one
huge volume, 337 thousand shares.
say 534 million shares now outstanding instead of 267 million, or twice as much, then current real share value is approx .19 cents, instead of .38 cents
billy, how many shares are now outstanding in your opinion? They list approx 267 million.
audit needs to be timely, it must confirm unaudited numbers, it must show number of shares near 267 million, and it needs to fully explain and justify notes. IF NOT THE STOCK TANKS. Not enough just to get it out on time.
but for the toxic debt and share structure, would be el fuego
do we know when report coming? what kind of news r we hoping for? thanks
i had a million shares, what is it now. what was the split
low volume because no buyers. No dumping cause no buyers. If no audit by march 31, tanking. If audit comes out in time but shows billion shares, tanking. If audit comes out with restates, tanking. If all kosher, nothing to worry about.
just more paid advertising. Pumping for the dumping
no confirmation of retiring 300 million shares. Charles vacarro has 577 million shares. They admit to 269 million shares. Though I said if, there are actually 1.146 billion shares.
if there are currently 1 billion shares outstanding, each common share is worth about .10 cents. ten cents.
still no verification of retiring 300 million shares. Financials said in process....doesnt that contradict what they said before? Didnt they say it was done? no confirmation. right now probably a billion outstanding shares. That would dilute current share value by 66 to 75 percent.
no volume. 1.3 million shares. sellers wont be able to sell even if they want to.
no volume either
no buyers today
company investor relations responded to my email:
On March 6 I wrote
Is it true that POTN owes several promissory notes as mentioned in the released 2017 financials, including a two million + dollar note wherein the lender will/is receiving 577 million shares of the company?
If true, isnt that the equivalent of a 2 million dollar loan being paid back with 250 million dollars per the current stock price?
If that is true, isn't that on its face a breach of fiduciary duty or outright fraud? What individuals specifically issued the money that is the subject of the various notes? What relation, past or present are they to POTN the company?
A detailed response is appreciated.
today company responded with:
Hello,
Thank you for writing. As much as we all wish they could sometimes, management cannot control the daily fluctuations of the stock market. They are currently focused on the long-term growth of the company right now, which can be seen through a number of positive developments that have been announced recently. We do appreciate your continued support and hope that you know that we hear and are listening to your concerns.
Sincerely, Potnetwork Holdings; THOUGHTS FROM THE BOARD
still no feb revenue numbers....probably dropped to 1.5 mill. they wont report them
if the audit comes out, do you believe it will include current shares issued and outstanding? and full explanation of outstanding notes?. the notes and vacarro shares/diluting only thing holding this back...what a shame, could be great.
if audit comes out.....big if.....and there are a billion shares, this immediately loses two thirds of value because instead of an alleged 269 million shares (which isnt confirmed) they will have a billion plus due to dilutuion.
then when its revealed there are a billon plus shares......................
mms want to keep it up in this range to dump as much as possible without tanking it. Down 3cents, up 3 cents.
you dont need his shares, just keep buying charles vacarros'. Hes got 577 million of them. He even shares the proceeds with the other prinipals to reward them. crypto? how many shares of that subsidiary do they have.
cv and potn are not against each other. cv has 577 million shares allegedly. He wants potn to do well so he can unload.
the lawsuit is for southridge to be made whole. For that they sue everyone involved. What the complaint reveals though is that they allege they were cheated, and it was charles vacarro who got the conversion shares of 577 million. That is the revelation important to us. i dont know anything, just pointing things out. do your own dd.
what if audit shows NO shares retired, and actually over a billion outstanding, proving the dilution?
tauras, starting to believe you after more information becomes public on the sign notes and as it looks like charles vacarro personally got the 577 million shares.
the audit will show probably a billion outstanding shares. Hes an insider who obtained 577 million shares in a set of transactions that are now the subject of a lawsuit. He is diluting them in big chunks, ripping off all shareholders. Read the previous posts today regarding the litigation.