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Could be, but what they really need at this point are choices, and I don't see a lot.
Back when I was trading this I calculated the bottom to be at .0034, I don't remember how or why, but I may be back if I see those numbers.
Now they have to resolve their debt load. They have no saving angel, no cash and no more shares. In fact they must have 2 to 3 time their A/S committed to note/convertible holders by now.
Nothing good can follow.
Lucky guy!
Check your portfolio for the amount you think you have coming It's listed as numbers and letters, ALPP does not appear anywhere. Everything except for the quantity is zeros.
Any word from St Peter?
where about?
Now that two LOIs have expired, PCTL needs 3 things...
They need cash, they need cash badly and they need cash very badly.
Their hope for a bailout took flight with the Ontario LOI expiration, now they are so broke that they're making short term loans at 40%.
To add to the problem, all their shares, plus a few hundred million more, are pledged to existing note holders.
So, what are the options?
Obviously they first need more shares, that's their only currency. Seems like they have 2 options, increase the A/S or a R/S. Jody and Gary have put in place a combination poison pill/golden parachute by issuing themselves 1,000,000 class B shares giving them 500,000,000 million votes and redeemable for a million dollars. They got their own backs.
Certainly we all have thought that anyone who wanted PCTL need only buy up the notes and loans, thereby gaining majority ownership. They really don't need Jody's permission, but of course as it stands now, Jody and Gary would be taken care of. The stockholders, not so much.
Keep those apologies coming, you know who you are.
Well said.
Why are the noteholders not converting at the prices of $0.0004? There can only be a couple of logical explanations.
1. It takes 6 months for the shares to be register and the note holders don't think they can get that much then
or
2. And the more likely, they fear any conversion shares will be R/S into worthless paper. By holding the notes, they are immune to a R/S.
Now that two LOIs have expired, PCTL needs 3 things...
They need cash, they need cash badly and they need cash very badly.
Their hope for a bailout took flight with the Ontario LOI expiration, now they are so broke that they're making short term loans at 40%.
To add to the problem, all their shares, plus a few hundred million more, are pledged to existing note holders.
So, what are the options?
Obviously they first need more shares, that's their only currency. Seems like they have 2 options, increase the A/S or a R/S. Jody and Gary have put in place a combination poison pill/golden parachute by issuing themselves 1,000,000 class B shares giving them 500,000,000 million votes and redeemable for a million dollars. They got their own backs.
Certainly we all have thought that anyone interested in PCTL need only buy up the notes and loans, thereby gaining majority ownership. They really don't need Jody's permission, but of course as it stands now, Jody and Gary would be taken care of. The stockholders, not so much.
Keep those apologies coming.
Now that two LOIs have expired, PCTL needs 3 things...
They need cash, they need cash badly and they need cash very badly.
Their hope for a bailout took flight with the Ontario LOI expiration, now they are so broke that they're making short term loans at 40%.
To add to the problem, all their shares, plus a few hundred million more, are pledged to existing note holders.
So, what are the options?
Obviously they first need more shares, that's their only currency. Seems like they have 2 options, increase the A/S or a R/S. Jody and Gary have put in place a combination poison pill/golden parachute by issuing themselves 1,000,000 class B shares giving them 500,000,000 million votes and redeemable for a million dollars. They got their own backs.
Certainly we all have thought that anyone interested in PCTL need only buy up the notes and loans, thereby gaining majority ownership. They really don't need Jody's permission, but of course as it stands now, Jody and Gary would be taken care of. The stockholders, not so much.
Nice to see some movement
So what can we expect?????
• Some time ago, I discovered and told the board that the Ontario merger was dead. They announced it in an 8k and then confirmed it in the 10Q.
• Then when the 10Q became delinquent, I told everyone who was "wishing for the 10Q" to be careful for what they wished, because the 10Q was terrible and would crash the stock.
• Now I see people again touting "that great news is a coming". There may be, and probably will be news coming shortly, but it won't be good.
The believers will bash me, but please read the filings and you will see that just like my first two conclusions, the third is also valid and based on logic.
The company gives you two types of information, what they tell you, and what they don't.
Like I said earlier, the deal is dead and if they issued the 10Q they would have to mention that. The stock would plummet just like it did when people realized the Magnolia deal was dead. Don't take my word for it, just watch.
This is one of the "there are other scenarios that are worse" scenarios, but I am more than a little curious as to why now. Looks like a major private placement may be in the making, they need cash.
Here are 3 quick takeaways from the 10Q....
• Page 13
Wow, a 41% interest rate and that when the pps was above 10 cents. That can't be good
• Page 31
A quick count shows $120.000 in convertibles at $0.0006 and $73,000 in convertibles at $0.0004. That comes to 382,500,000 shares upon conversion.
• Page 33
Jody and Gary gave themselves 500,000,000 voting shares. No doubt about "Who's the Boss", but why so many? Might have something to do with the $1,000,000 resale value.
Oh, and if you are too embarrassed, you can apologize to me by PM.
The 10Q comes out affirming our worst suspicions and within 2 hours here's what we have...
• We were told that the Ontario deal has expired, but somehow that's interpreted as the deal is still on and better than ever, lol.
• The amount of shares required for conversions is well over a billion and note holders won't convert even at $0.0006. Of course that only means there is no dilution, lol.
• Jody is busy feathering his nest, yeah, he's working hard for the shareholders.
I am amazed for what passes for DD, "you're wrong, PCTL to da moon".
All in all, it is holding up as well as could be expected. Not sure we'll see the much predicted .02 by Friday, but what hell, gobble up those cheapies, you are making some MMs very happy.
Are you saying they lied about the bank and they actually got the money from a guy named Ivan in a brown paper bag? LOL
Is this the same compamy that issued two fluffy LOIs, neither of which came to fruition? Is this the same conpany that has to pay 40% for a 1 year loan?
A lot of folks are talking about a major upcoming deal, I tend to agree. So what might be in the offing?
Well, we know they are desperate for money. The are paying interest rates of 44%.
We also know that they normally issue a fluffy LOI to promote their pps when they are allegedly negotiating mergers.
We also know that Jody and Gary issued themselves 1,000,000 class B shares, effectively holding the company for ransom until they are paid $1,000,000 without regard to any merger terms.
If a merger is in the works, where's the fluffy LOI? Could the deal be such that it is better left secret until completed? Are well looking at a R/S? Is that why note holders won't convert at $0.0004 and below?
This is getting interesting.
Amazing..
The 10Q comes out affirming our worst suspicions and within 2 hours here's what we have...
• We were told that the Ontario deal has expired, but somehow that's interpreted as the deal is still on and better than ever, lol.
• The amount of shares required for conversions is well over a billion and note holders won't convert even at $0.0006. Of course that only means there is no dilution, lol.
• Jody is busy feathering his nest, yeah, he's working hard for the shareholders.
I am amazed for what passes for DD, "you're wrong, PCTL to da moon".
Like I said earlier, the deal is dead and if they issued the 10Q they would have to mention that. The stock would plummet just like it did when people realized the Magnolia deal was dead. Don't take my word for it, just watch.
This is one of the "there are other scenarios that are worse" scenarios, but I am more than a little curious as to why now. Looks like a major private placement may be in the making, they need cash.
Here are 3 quick takeaways from the 10Q....
• Page 13
Wow, a 41% interest rate and that when the pps was above 10 cents. That can't be good
• Page 31
A quick count shows $120.000 in convertibles at $0.0006 and $73,000 in convertibles at $0.0004. That comes to 382,500,000 shares upon conversion.
• Page 33
Jody and Gary gave themselves 500,000,000 voting shares. No doubt about "Who's the Boss", but why so many? Might have something to do with the $1,000,000 resale value.
Oh, and if you are too embarrassed, you can apologize to me by PM.
Like I said earlier, the deal is dead and if they issued the 10Q they would have to mention that. The stock would plummet just like it did when people realized the Magnolia deal was dead. Don't take my word for it, just watch.
This is one of the "there are other scenarios that are worse" scenarios, but I am more than a little curious as to why now.
Here are 3 quick takeaways from the 10Q....
• Page 13
Wow, a 41% interest rate and that when the pps was above 10 cents. That can't be good
• Page 31
A quick count shows $120.000 in convertibles at $0.0006 and $73,000 in convertibles at $0.0004. That comes to 382,500,000 shares upon conversion.
• Page 33
Jody and Gary gave themselves 500,000,000 voting shares. No doubt about "Who's the Boss", but why so many?
Oh, and if you are too embarrassed, you can apologize to me by PM.
I'll give you a head start.
More importantly, why would longs fall for a stunt like that, and even give their whole hearted endorsement of it?
Don't get my wrong, I appreciate it, but since it knew the LOI had been terminated, all it meant to me was a surefire flip. I think lots of people knew, and took advantage of that.
On the other hand, those who bought at 14 and 15, even if you're a believer, got screwed.
Quote:
1. Magnolia deal publicly terminated to clear the way for the new deal announcement (LINK)
Interesting that PCTL would make a big deal out PCTL publicly announcing, in a 10Q dated 5/15/9, that the dead Magnolia deal was terminated. PCTL says "the parties agreed to negotiate and enter into a definitive agreement on or before April 27, 2019. As of April 28, 2019, we had not entered into a definitive agreement with Magnolia or agreed to any extensions of the LOI, therefore the LOI terminated." The LOI was terminated on 4/28/19, not when it was publicly announced on 5/15/19. Didn't anyone figure that before?
Quote:
Magnolia Columbia Limited LOI
On March 27, 2019, we entered into a letter of intent (the “LOI”) with Magnolia Columbia Limited (“Magnolia”), a Canadian company traded on the TSXV under the symbol “MCO”. Pursuant to the terms of the LOI, the parties agreed to negotiate and enter into a definitive agreement on or before April 27, 2019. As of April 28, 2019, we had not entered into a definitive agreement with Magnolia or agreed to any extensions of the LOI, therefore the LOI terminated. However, we continue to negotiate with Magnolia for a potential future transaction.
Now we have the same thing happening with Ontario and apparently I'm still the only one to figure out that the Ontario LOI was terminated on 8/20/19, the day after the extension expired, just like the Magnolia LOI
It's not rocket science, the deal is terminated, get over it.
Big time crash coming...
8K said Ontario LOI was terminated
Note holders won't even convert at $0.00035
Company is broke
The company is afraid to issue 10Q
Oh, what a train wreck!