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Agreed, they file the Super 8K/Form 10 and then next steps occur...
I wish that were true but a Reverse Merger is not a capital raising transaction and a company engaging in a Reverse Merger cannot issue or receive “free trading” shares unless the shares are registered with the SEC.
Maybe this is a factor :
Rule 144 requires that shareholders of present or former Shell Companies are unable to rely upon Rule 144 to sell their shares until the issuer of the securities has ceased to be a shell and at least one year has elapsed from the time the issuer filed current Form 10 Information with the SEC reflecting its non-shell status
It can also be argued that it could have come from Delfin...since on the condition anonymity does not definitively prove yours/my or the article's case either way...
The whole point of my response to yours to XI175 was merely in jest 'place your bets, Delfin-hedge your bets'...I didn't think it would go down this path of discusion... but it has, lol...
At the end of the day, you and I and many others here can read between the lines and keep trying to uncover clues to what I/we believe will one day be an R/M between TGLO and Delfin and then we go from there.
Cheers!
Actually it makes sense when you read the first part of the sentence...
because the matter is commercially sensitive
I've been in many high-level talks in my 20-year business career, and I have used that very phrase more than once...
Or in Delfin's words - "hedging its bets"
https://platform.mi.spglobal.com/web/client?auth=inherit#news/article?id=43117789&cdid=A-43117789-11052
TGLO$$$
So we'll have to agree to disagree.
We know this: A Reverse Merger is not a capital raising transaction and a company engaging in a Reverse Merger cannot issue or receive “free trading” shares unless the shares are registered with the SEC.
And this: Rule 144 requires that shareholders of present or former Shell Companies are unable to rely upon Rule 144 to sell their shares until the issuer of the securities has ceased to be a shell and at least one year has elapsed from the time the issuer filed current Form 10 Information with the SEC reflecting its non-shell status.
The "seasoning period" — they still have a long way to go (actually haven't started) and knowing that every penny/tick upward is $3.12M in Delfin's shareholder account. I think we'll see the PPS rise up over the next year, but for a $25,000 investment, the current $18M in value for them alone is looking good. They've hired professionals to see this through...be thankful you're along for the ride. When we decide to get off the ride is all on us.
Agreed. I think we've hit a point were the usual 'red flag' words become utterly useless here. Dilution, R/S, blah, blah, blah...BTW, I'm not singling you out, just replying to the thread and starting a discussion point. ;)
So, if every positive penny is a $3.12M in shareholder value to Delfin, why — at this point in the game — would Delfin ever consider diluting their shares or R/S...there are some bigger things happening behind the scenes and the bad actors on this board are attempting to sway folks with FUD. I'm a firm believer (without any factual data, fyi), that at this moment in time, there is opportunity for friends, family and even competition to be buying shares. This cannot be explained away on either side of the coin, however. I myself added 9000, check the tape.
Plenty of people will sell their shares at .10/.20/.30/ --> $4 along the way, thereby keeping the float somewhat constant. Supply and demand and Trading 101 folks...for every buy, there's a sell. And people will sell and buy all the way up (and down)... so, for example, how many people here with 500,000 shares is going to hold at .30? Not many, probably 1 or 2. They'll sell off half or say, 490,000 and hope their remaining 10,000 hits $4...because after all, their 10,000 free shares could potentially be $40,000, and they pocketed $147,000.
Loading is happening and the accumulation line this past year is the major indicator.
TGLO$$$
Why would they dilute their shares...for what purpose? If 441M/312M shares = $25,000, why would they want to go in the opposite direction? Please explain... every positive tick is $3M dollars for Delfin
Not sure, my Interactive Broker account only show 373,900 shortable shares available...
OTCX out of the way...let's see how long it takes to chip away at 1.2m shares...
Wow! Anyway...only 394,055 shortable shares available. That wall is pure FUD ... I'm imagining that MMs are gonna keep it here for awhile to allow 'friends and family' to load up...volume will prove that loose theory...we'll see.
TGLO$$$
Maybe, maybe not. This was posted earlier in the year re: NOLS
https://rsmus.com/pdf/is_section-382-analyses.pdf
Section 382 Analyses
Preserving NOLs and credit carryovers in an M&A transaction or other equity transaction
We cannot simply say they're not going to not use the NOLs based on a generalized Section 382 statute. Obviously there is a firm(s) that specialize in taking advantage of this. Is this another reason why the TGLO shell was purchased, because of their $160M in NOLs?
So many moving parts and, in retrospect, probable reasons why there was a bridge loan for hiring all the experts needed to make the RM happen in the best, most profitable way possible.
Well you haven't answered my post on NQ requirements...I can't seem to see the point of an R/S with an OS of 441M, where LNG/TELLs are ~250M ... supply and demand drives PPS...Econ 101, if the float is < 100M — and we know that based on the way this is trading is much lower than that — your analysis of the share price dropping to 025 doesn't jive with simple economics...thus, Delfin FnF are buying up shares (a guess), TELL and LNG peeps are buying up shares (a guess, but tell me that an Comcast peeps owner shares of Verizon), .... MMs are keeping TGLO in the channel for a reason unknown to all of us.
I'm all ears... because you've yet to deliver on your own statement:
Take a stab at responding to the NQ requirements. They're a private company coming into an RM with $7B in assets...again, looking for why they won't 1) use the clean PUBLIC shell to R/M (like TELL did), 2) satisfy a great portion of the NQ reqs.
If not TGLO, are they going to IPO? Why stay private? You and I cannot invest in private companies, hence the public R/M route.
Why did they buy a clean shell? TGLO didn't have the some bloated 1B OS that Megallan did, hence the reason why TELL R/Sd.
If the OS is 441M, and LNG/TELL ~240M, please tell me why they would R/S?
I just can't see it, sorry.
If at the point DELFIN would consider an R/S — which IMO would occur after the R/M — would there be a need to R/S??? They'll still have ~100M shares available to trade at NQ mins of $2/3/4 dollars, still an attractive purchase price without the need to reduce the share count. Their 71% ownership @$2/3/4 would be $624M/$936M/$1.2B, so they're checking off the NQ requirement boxes (#4 below is my pick) in terms of Assets with Equity.
Without knowing what the float is — < 100,000,000 shares? — is it safe to assume this years accumulation line which has been steadily climbing, that Delfin 'friends and family' have been adding to their own accounts, all the while staying under 5% ownership? We don't know, will never know, but I'll assume, most likely.
OS - LNG: 248,186,474
OS - TELL: 240,522,514
OS - TGLO: 441,480,473
There are many smart people here on this board, so please help me to understand the need for an R/S, as it seems unnecessary. Talk of an R/S higher that 5:1 is absurd to me
NASDAQ REQs below
The Nasdaq has four sets of listing requirements. Each company must meet at least one of the four requirement sets, as well as the main rules for all companies.
Listing Requirements for All Companies
Each company must have a minimum of 1,250,000 publicly traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more than 10% of the company. CHECK
In addition, the regular bid price at time of listing must be $4.00, and there must be at least three market makers for the stock. NOT YET
However, a company may qualify under a closing price alternative of $3.00 or $2.00 if the company meets varying requirements.
Each listing firm is also required to follow Nasdaq corporate governance rules 4350, 4351 and 4360.
Companies must also have at least 450 round lot (100 shares) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months. CHECK
In addition to these requirements, companies must meet all of the criteria under at least one of the following standards.
Standard No. 1: Earnings
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no single year in the prior three years can have a net loss.
Standard No. 2: Capitalization with Cash Flow
The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. In addition, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.
Standard No. 3: Capitalization with Revenue
Companies can be removed from the cash flow requirement of the second standard if its average market capitalization over the past 12 months is at least $850 million and revenues over the prior fiscal year are at least $90 million.
Standard No. 4: Assets with Equity
Companies can eliminate the cash flow and revenue requirements, and decrease its marketing capitalization requirements to $160 million if their total assets total at least $80 million and their stockholders' equity is at least $55 million.
A company has four ways to get listed on the Nasdaq, depending on the underlying fundamentals of the company. If a company does not meet certain criteria, such as the operating income minimum, it has to make it up with larger minimum amounts in another area, like revenue. This helps to improve the quality of companies listed on the exchange.
TGLO$$$
Agreed. X might to revisit the sticky from Sprycel...
@Uncleteddy - sorry I don't have PM, but see the section on column 2 on the bottom of page 11 - would that apply, too?
Thanks for finding that info!
NOLS - Let's add this to the conversation:
“As of December 31, 2016, we had net operating loss carryforwards which may be potentially available for U.S. tax purposes of approximately $166 million. These carryforwards expire through 2036. The Tax Reform Act of 1986 imposes substantial restrictions on the utilization of net operating losses and tax credits in the event of an “ownership change” of a corporation,” theglobe.com in a regulatory filing.
That's an intense read!
Thanks. I have TD, eTrade, as well as Fidelity. None of them show Available Shares to Short (Shortable Shares) like Interactive Brokers does. But, open for you to point me to the right page/screen...I may have missed it.
Also, going down the 'short' route isn't worth it to me for a number of reasons, especially the $2.50 rule.
You probably know this, but this is for those who don't understand this way of trading:
==
The $2.50 rule applies when you are short selling stocks that are priced under $2.50. Basically, the rule states that for every share you are short, you still need to put up $2.50 of capital, even if the stock is priced lower.
Why does this matter? Let's say you have a $1000 account and you want to short sell pennystocks. If the stock is under $2.50, you will not be able to take a full $1000 position, even if you wanted to. Here's the math:
You have a $1000 account;
For ANY stock under $2.50, you must still put up $2.50 in capital.
Divide $1000 by $2.50, and the MOST shares you can short is 400 shares, REGARDLESS of price.
$1000 account - 400 shares max
$2500 account - 1000 shares max
$5000 account - 2000 shares max
$10,000 account - 4000 shares max
$25,000 account - 10,000 shares max
Source: http://tradetheticker.blogspot.com/2014/02/question-what-is-250-rule.html
Except there are no shortable shares on TRON atm. Been checking daily on my IB account.
Right! Today there are no shortable shares available!!!! Boom!
RETC$$$
Ask any, and I mean any Veterinarian...they're not in it for monetary gains...they're only in it for the well-being of the pet...and quite frankly would prefer to really not deal with people, in general.
I was at the 2018 AVMA Conference and had many an interesting conversation with Vet clinics of all sizes...but that was and is, the underlying driver.
It's coming.
Understanding the playing field and how close moving from canine to human trials is: Brachytherapy used exclusively or as adjunct/combination therapy in humans.
http://www.pethealthnetwork.com/news-blogs/a-vets-life/common-cancer-humans-and-dogs-found-nearly-identical
https://twitter.com/radiogel/status/1056236163051094016
https://twitter.com/loudanepro/status/1056243476285648897
https://www.mayoclinic.org/tests-procedures/brachytherapy/about/pac-20385159
I've said it before (backed by data), the healthcare portion of the Veterinary space is $18B of the $65B vet market.
Welcome. Read this post.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144427590
You'll see DIGAF in the row above RETC
Right!?? Awesome job! Just imagine, for a second, if they worked in conjunction with SEC to find all the naked shorting companies out there...obviously it can be done...
RETC$$$
Agreed. We're good here!
RDGL$$$
Lol, HIPAA only applies to humans privacy of their personal information
And while the VCPR (Veterinarian Client Patient Relationship) has been lifted to the discretion of the Veterinarian, the pet parent ultimately chooses whether or not to have their pets picture shown.
RDGL$$$
Yup...I'm in talks with some veterinary industry related folks (non onco-stuff), and we're giving them first right of refusal to be a part of an aggressive global expansion of services, and this group is being so small minded and can't get out of their "I'm okay in my own backyard" mentality. Oh well, if not them, someone else is on our list.
The Vet space (en masse) is a $60B industry, with Vet health nearing $18B... people can choose to flip (stay in their safe space) or invest in the future of something far bigger than just this space...and this space has a ton of room to grow.
Cheers and good luck, friend!
RDGL$$$
Agreed. In my former marketing director role for a VCA-sized ER, one of our principles of the company is a world-renowned equine doctor, who had, on many occasions prior to my arrival, dealt with the sheiks in Dubai and M.E. when it came to the care of their equine investments. THEY love their race horses as much as the horsepower of all the super cars they own. LOL. We're in a great spot.
RDGL$$$
Thank you for your service and sacrifice! I appreciate your candor and willingness to share your story!
Good luck to you and all of us here!
RETC$$$
Whelp, theory confirmed... 1,033 didn't knocked down OTCX shares on the ASK. Should be 20,000 now.
Clearly, OTCX — a known dilutor — is baiting the hook here... they've been on the Bid/Ask all day starting at 0523 now at 0543, but camped out all day on the ask at 0615/9 w/ 21,033 shares
So...obviously no manipulation here (sarcasm) since with 7 trades for today, that last 3 being buys in the 6s, yet their shares aren't depleting on the ask, especially after that 7500 hit .0615 which they clearly had (and still have) on L2 ...now they moved the ASK up to 0619, but let 4500 get sold at 06112 (5-digit trade)...without any share count impact on the bid or ask. I can see 'hiding behind' 10,000 shares, but OTCX started the day with 16,000 on the Bid and 21,033 on the ASK. smh.
They're keeping a 3/4 cent spread, still I don't see the upside for them playing the game like this...
Ok, I'll stop...they're moving the B/A up every 10 min or so now. LOL
Let's GO!
TGLO$$$
Oh look, OTCX moved the BID from .0523 to .0525 ... still camped out at .0599 on the ASK
UPDATE: now .0526 ...OTCX ...you watching iHub?
UPDATE 2: .0527 ...seriously? LOL
$1200 takes them out ...grrr...outta powder until Friday. Selling some other movers today
More OTCX BS....on both the Bid and Ask trying to create FUD or FOMO by trading with itself.