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Added a mil starting at 70 and into mid 60s.
That was an amazing morning dip, the outlook here is ridiculous. .10 might sound unrealistic to some, but is definitely not impossible.
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You're gonna hate this market, then.
Don't hate the player...etc.
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2bil this hour, probably.
We're coming up on $2m in volume this hour.
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I know getting 50m 12s and selling them 20 minutes later for 13 is tempting, but imagine what it feels like when it could've been 50m 20s only an hour later.
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Ha, try in 20 minutes.
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Crazy volume, and all at 12. What is up, I wonder.
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Something's definitely happening. Trading like someone knows something.
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Loading wall or trying to crush this thing?
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DEBT FREE, CASH ON HAND.
The two facts absent from all discussion lately.
This company does not need to RS to raise capital or create room for dilution because the company has money and ZERO DEBT.
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Best chance to load in a while, coming up this week. Be sure to take advantage.
Cheers!
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Someone is losing their entire stack real early into this thing, all to try to hold it back from testing the next resistance level.
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Lessons in the art of timing. This had no business being in the 70s at all, but that only means maximum opportunity.
As was said, the bright future here is obvious.
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Bullish harami cross on the weekly. Nicely rounded bottom to the weekly macd, which has spent 29 weeks in the bearish zone and only 11 in the bullish zone this year. The harami pattern is mirrored on the daily, comprised of 2 extended bullish haramis (first one 4 days long, second one 11 days long).
I won't be surprised if we move back up to mid-60s this week. Hoping Danny recognizes and appreciates the amount of patience shown by those who have helped steer the investor ship through this ponderous period (even for this stock).
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Not sure why there's so much negativity, this thing is trading great (ie, clean) and it only entered the buy zone like four weeks ago. Takes time for bottoms to round and turn back up.
I said I was starting buying at low 90s and this has been a welcomed opportunity to build a starter into a decent little position. Continuing to nibble a bit with excess from each bounce in some other more active plays. Looking forward to the bright future for this company and its .10-.15 conversion rate investors, who clearly believe this is a .25+ pps company.
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Endless pump dumpers.
It'll end eventually, but I only read telegram anymore to know when to dump.
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From today's news:
"Smarter Flush products are available at Lowes, Amazon, Walmart, Wayfair, Ace, and True value, and will be coming soon to Home Depot and Ferguson Plumbing."
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I think they're being bought out. They'll net a large pot of commons to sell slowly for life, but they can't sell many all at once or they'll tank the stock and subsequent sale will lose power. The company will then reissue Class A shares, perhaps under modified terms, to new owners. There will be 0 outstanding but original amount fully authorized when this change occurs.
The interesting question I don't understand why anyone's not asking is, why is the company pursuing $23m in cash? I, for one, am interested to see what they're planning to do with this Shift-4.
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It won't be .04 when they convert. It's contingent upon the uplist being successful.
If they dilute then, they'll lose much of the value, and also their controlling shares. There's no way they're going to open themselves up to a hostile takeover after uplisting to NASDAQ. The ticker is too valuable at that point.
This is either a r/m or they won't ever sell. My shift-4 is on r/m.
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Correct, for now, according to the current structure. But if the company assigns class A's to a new entity, this is not assured.
Once these shares converted, they'd have class A's authorized but none outstanding. Presumably they would reissue them, perhaps under new terms, to new owners.
Implicit also in your statement is that they won't sell any of those commons. As they did, they'd lose control.
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p.55 of the s-1
It's conditional upon uplisting being successful.
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Controlling interest change.
They're buying out the old owner(s) and presumably will replace them. This would only happen if the deal's already inked.
There's no way the owners are selling at the bottom in advance of a market uplist.
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Cashing out at the bottom?
Sure thing, that happens.
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Called it!
That's because a controlling interest change is occurring. The old owners are being bought out.
This is a big deal. Ever heard of a reverse merger?
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Yeah but they lose voting power if they do this.
Class A preferreds don't convert unless the person wants to lose controlling interest in the company. The conversion terms are there so someone who is bankrupted can liquidate them, but that's a last-resort from a personal finance perspective.
Who in their right mind would convert shares carrying intrinsic additional voting power into normal commons? Exactly.
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Sure thing. Sorry it had to be a long post; this is one of the more complicated ways of generating additional funding without equivalent corresponding dilution.
The goal here is to earn $11m in funding with only perhaps 2/3 the price being sale of commons. The difference will be paid in shares of a parallel ticker which trades on its own and ideally won't be profitable to convert. This limits the float size while still incentivizing investment. If the warrants trade equivalently to the commons, for instance, then the investors would net 2/3 value (in commons) + 2/3 (in warrant) for the price of perhaps 1.01x-1.33x normal common share price.
It's really just a dividend, guys. They're creating a one-time sale which nets a dividend, to incentivize increased initial investment from larger firms.
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You are partially correct about much of that, but only partially.
There is a proposed offering for $11m in funding, conditional upon uplist approval to NASDAQ. The purchase price of these shares isn't determined, and could be at a substantial premium to the current pps.
Therefore, the first step would be for RXMD to be approved for uplisting to NASDAQ with a possible ticker/symbol change. There would likely be a r/s to accomplish this; this would be a r/s along its "intended purpose" track. Most r/s in the otc are to allow more space for dilution, which is why r/s get such a bad name. The actual purpose is to increase the price to qualify for things such as market uplistings.
If RXMD is approved to the nasdaq, and if the proposed offering is then approved, there would be a second ticker assigned, which would have the new Nasdaq ticker symbol + W. This would allow for trading of the warrants, prior to conversion. Entities who participated in the offering would earn 1 share of the common stock and 1 warrant, becoming the only people with warrant shares eligible for trading.
The end result would be, RXMD (let's just use this symbol for convenience) becomes nasdaq. There would then be a second ticker created for the warrants, RXMDW. The second ticker would gain its liquidity via purchase of RXMD common shares within the prospectus terms, which would net the investors an additional share of RXMDW. RXMDW would become its own tradeable entity, and would also carry the conversion feature that these warrants could be converted to RXMD if it becomes more profitable to do so.
An example of a ticker which has done this is MDGS; their warrants trade as MDGSW.
None of this is dilutive behavior per se, because it is all conditional upon NASDAQ uplist being approved (the big story in this). There would be an r/s as part of this, but not the scary kind- only to allow minimum pricing for NASDAQ uplisting. It is almost impossible to accomplish a market uplist without a r/s; they are not to be feared in this circumstance.
You'll hear screaming about r/s, and screaming about dilution. But neither of these are a concern for the moment. The convertibles (past debt) which are dilutive won't be an issue until 2022 at the earliest. The purchase price for 1 common + 1 warrant share in the prospectus isn't known; it could be substantially higher than current pps. And finally, conversion of the warrant shares isn't even a given. There would have to be a significant increase in RXMD without a corresponding increase in the warrant value for this to occur- MDGSW trades freely as its own separate investment class and its warrants are seldom converted. It is unrealistic to expect the warrant class of shares to trade in anything except arbitrage with the base company, because its value should remain tied to those of the common stock (since they're convertible).
Basically, the company is proposing to gain capital through sale of 1common+1warrant share lots, at a likely premium price to normal common shares. The benefit to investors in these lots being that they get to become the only intial shareholders of a second class of shares, warrants, traded as RXMDW. This will only occur if NASDAQ uplist is approved. Therefore, this is essentially just a public announcement of intention to uplist to NASDAQ. Rather than taking on additional toxic debt, they want to capitalize for the big game selling shares of commons with a warrant attached as a sort of "dividend". The warrant "dividend" will be tradeable as its own entity, ideally accomplishing additional funding without corresponding dilution.
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Examples of stocks which have done this type of uplist from QB to big board successfully are "AEYE" (audioeye) and "SUNW" (sunworks). They did not have a second ticker assigned to warrants, the only example of that I have currently is MDGS.
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" "+W For the warrants. An example of a company which does this would be MDGS and has their warrants traded as MDGSW.
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Nasdaq uplist incoming! I've seen a few tickers do this successfully and it's worked out well for them.
"We are in the process of applying to have our shares of common stock and warrants listed on Nasdaq under the symbols ” ” and ”W”, respectively. We will not consummate this offering unless our shares of common stock and warrants are approved for listing on Nasdaq. "
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"We are in the process of applying to have our shares of common stock and warrants listed on Nasdaq under the symbols ” ” and ”W”, respectively. We will not consummate this offering unless our shares of common stock and warrants are approved for listing on Nasdaq."
This is a disclosure of intention to uplist to Nasdaq.
https://www.otcmarkets.com/filing/html?id=15275779&guid=zahwkWjl7Xfhrth
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That's not what happened imo.
Imo, some moron set a stop loss at .021 and a MM calculated that it could take it down by selling only 20k shares and scoop 230k net shares for free while pocketing the difference since they just sold 400k at .0257.
People using stop losses in tickers this thin should not be trading.
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Yep, deal finalizes in less than two weeks and MACD just crossed back into bullish- we endured an entire daily chart MACD retrace with pps staying up, and now volume has returned.
People have slept on $SITS for far too long- glad we've had this chance to load and add!
Word always gets out.
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For real. Whoever's clowning this is playing a dangerous game. That's a textbook bullish engulfing reversal pattern off the bottom of a pennant.
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News 12:00!
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I have no new info but check that bid- MMs are all suddenly interested...
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Looks about ready. Watching for a 33+ close tomorrow to form a bullish engulfing for the weekly.
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