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Looks like George Sharp will get 7.5M new shares, already registered, for his new consulting work for Humbl. 5M of those vest on January 3rd.
Overall, it's not looking good for shareholders. On the other hand, for those who want to average down, it will be a smorgasbord. Unless I'm mistaken, average downers should be able to continue averaging down at lower and lower prices over the next few months.
Noteworthy is that Brian Foote didn't register all of the series B shares. For those who aren't in this wave, they may get scraps.
Humbl filed form S-1, registration of shares.
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001119190/000149315221030031/forms-1.htm
It wasn't clear whose shares underlying warrants were registered, George's or apparently Charger Corporation's. Either way, about 64M of those warrants now won't need to wait until Friday, December 3rd since Rule 144 won't apply.
Registered or restricted shares?? If Nick Carter has to wait until 6/29/22 to hope that Humbl gives consent to remove the restriction, he might not be a happy camper. He would have already watched $720k of that $1.2M evaporate.
Is it my imagination or is trading volume dropping off??
The bottom line is that George Sharp appears to be a crook. I believe we're going to see wave after wave of BS, borderline fraudulent, press release pumping HMBL very soon. I think he's going to be successful in pumping up the trading volume if not pumping up the price. George is not a stupid man. He knows what he's doing.
You can see from George Sharp's statements that he's anything but a straight up guy. He lied about the SEC registration being required. He absolutely knew that wasn't true. He was deceptive about when he would sell the resulting shares from the exercise. He also previously told shareholders that he kept the reverse split secret for shareholders' own protection. He also lied and said that shorts would have to cover during the reverse split.
Can you tell me what led you to believe that George Sharp is a straight up guy? Doesn't a reputation for honesty need to be earned?? How is George Sharp earning a reputation for being a straight up guy when he constantly lies and deceives investors??
It's that reason why I believe that we're going to see press releases at Humbl which cause fireworks. George can write press releases without being constrained by the truth.
"Yes he might sell some as well but he clearly stated not at discounted pricing."
George said, "Forwardly will be unable to sell these shares until they are registered with the SEC, and the company has no intention of disposing of any stock at depreciated values."
The first part of what George said about registration is clearly a lie. The second part lacks definition. Can you define what "depreciated values" means to George?? Let's ask George.
Don't assume what George meant. There's a reason why he's exercising the warrants thereby giving up downside protection, and it's not for giggles.
If George apparently had no plan on selling the shares any time soon, he wouldn't be exercising the warrants. Does George seem like the type of person who would simply throw away downside protection??
His intent to exercise the warrants shows his intent do dispose of the resulting shares ASAP.
Seven trading days left before George's warrants meet the one year mark.
That's $0.34 X 125,000,000. If you don't think George Sharp is motivated to sell some HMBL shares, you can have that opinion.
As TenKay said, George isn't going to exercise warrants for no reason. I doubt George is in the habit of throwing away free put options like that. George is going to exercise so he can sell.
There's no way anyone can rationally spin that story to make anyone believe George will exercise the warrants to keep the shares. When George said he will exercise 10M warrants and said he doesn't intend to sell them at depreciated prices, he was BSing everyone. He certainly intends to sell those shares ASAP.
I assume when you say that George Sharp is going to drop meaningful news on "this venue" that you mean George going to drop meaningful news on this message board. Do you have any additional details?
I believe that as well. George has a strong financial interest to drop meaningful news about Humbl to rock everyone's world. Every penny which Humbl rises means an additional $1,250,000 in his pocket.
Do you mean I'll get an answer in eleven days after the one year holding period is met? If that's what you mean, I believe you.
George, who is the other warrant holder? Will you be coordinating with that other holder or will you be completing with them to unload shares?
I don't think anyone is really negative. It's just that everyone on this board knows that George is gearing up to pump the stock, exercise his 125M warrants and sell the shares. It's a different feel, but not really negative.
I'm excited to hear what schemes George Sharp generates to pump the stock. Deals to feign progress?? Equity purchases of Humbl stock by Forwardly to fool investors into thinking he wants shares rather than to dispose of 125M shares?? What??
George, drop us some hints on this board! Haha!
I'm sure we will get many more pieces of juicy news over the next several weeks.
What's the best play here? I don't think buying for any reason after Dec 3rd is a good idea--that's when George will have his finger on the sell button to take advantage of any worthwhile price and volume.
We need to outthink George, which is especially hard since he and Brian read this message board.
Any thoughts?
What's a good guess for the time line for the start of George's press releases on Humbl? My thought is a few days after Dec 4th. It doesn't have to be right on December 4th since he still has plenty of time before the series B conversion shares can be sold. Yet earlier is obviously better for him.
"Forwardly will be unable to sell these shares until they are registered with the SEC, and the company has no intention of disposing of any stock at depreciated values."
That's actually one lie and one deception by George Sharp. The shares can be sold after one year (Dec 4th, 2021) with the Rule 144 exemption. Why do you think everything is happening now?? Also, when George says he has no intention of disposing his HMBL shares at depreciated values, that does not mean that he doesn't intend to sell them ASAP. Read carefully.
I haven't followed that closely but I'm sure you're correct. George wouldn't have badmouthed Humbl while he was holding 125M Humbl warrants.
That's exactly right. Why give up downside protection on a highly volatile stock like Humbl??
Now extrapolate that out. Is there any question why George Sharp came back to Humbl as an advisor two weeks prior to the year wait time?? Do you think he's going to give it his all to pump the stock since he will make $1.25 million for every penny HMBL climbs higher??
From what you know of George, do you think he's going to be honest and go by the book or do you think he's more likely to blur the lines between legal and fraud to light a fire under Humbl?? I think it's the latter.
There's absolutely nothing wrong with George Sharp wanting Humbl's share price to rise.
Because of the warrants and his new role as advisor, George also has a very strong incentive and the opportunity to make that happen through hook or crook.
You believe George doesn't short tickers and maybe he doesn't. Since there were only 37M shares of Humbl short at the end of last month, obviously George didn't short all 125M shares at higher prices in anticipation of exercising his warrants. Maybe that's an important point. Maybe not.
But another important point is the George is deceptive. You can see examples of that in how he handled Humbl's reverse split. He told shareholders that he kept them in the dark for their own benefit and he lied when he told shareholders that shorts would be forced to cover because of the reverse split. George isn't honest but that's what makes Humbl more interesting. It means that George isn't constrained by ethics in promoting Humbl's stock. The timing shows Brian Foote brought George back into Humbl at an opportune time for George to move the price up before the one year mark on his Humbl warrants.
George Sharp is smart, deceptive and has a strong incentive to promote the stock. I believe that will lead to fireworks over the next few weeks.
I'm bearish on HMBL's longer term outlook but George Sharp advising Humbl is a strong near term catalyst in my opinion.
Don't underestimate the power and determination of a dishonest man who benefits by over a million dollars for every penny Humbl moves upward. I wouldn't be surprised if I heard George was buying up every piece of Humbl branded merchandise offered on Humbl's website just to boost Humbl's revenues.
Yes, and George Sharp stands to make many more millions if he can generate the right stories and press releases to pump up Humbl's share price and trading volume in the next few weeks to few months. George makes over a million dollars on his warrants for every penny Humbl moves upward. Millions of dollars literally depend on how hard and how well George can pump Humbl in the near future.
George didn't come on board Humbl on Friday as an advisor for giggles. Well, maybe some giggles, but mostly he came for the cash.
Yes. Thus entereth George the Shepherd as advisor to Humbl to sing to the sheep and maximize the fleecing. If George gets the price and trading volume up over the next few weeks to next few months, he stands to make tens of millions of dollars more than if he doesn't.
The 1 for 4 reverse split earlier this year would have cut the number of warrants as well. Unless I'm mistaken, there are, or were, 250 million warrants for 250 million new common shares on a post RS basis. Forwardly owned half and another holder held the other half.
Humbl's recent report, obviously on a post RS basis, said:
"On December 4, 2020, the Company granted 250,000,000 warrants to two separate holders at a price of $400,000. These warrants have a term of 2 years and are exercisable into shares of common stock at a price of $0.20 per share. In October 2021, 20,000,000 of these warrants have been exercise for $4,000,000."
Yes, the deal for George's warrants was executed on Dec 4th, 2020. The one year holding period for restriction ends in two weeks.
There are 250 million new shares underlying the warrants. That's only about 25% dilution for Humbl. Substantial, but not overwhelming.
Per Forwardly's financials, George paid $200,000 to Humbl for the warrants or $0.0016/warrant, not $0.10. Those $0.0016 warrants are now worth around $0.40 each.
"Pursuant to the Warrant Agreement, the Company paid $200,000 (cost of $0.0016 post split of HUMBL) to HUMBL to purchase post-split (effective February 26, 2021) 125,000,000 warrants of HUMBL at an exercise price of $0.20 per share, upon completion of the merger HUMBL and HUMBL LLC, a Delaware limited liability company."
I'm in the bear camp but even I will admit that yesterday's news was good. Even with Humbl's share price jumping up 50% yesterday, the market might have underestimated the impact of stock promotion by George Sharp.
George Sharp has 125 million Humbl warrants through Forwardly. Those can become unrestricted in two weeks. George has a strong interest in pumping the stock and he doesn't mind lying and deceiving investors to meet his objectives. Humbl is going to see some fireworks soon.
In the end, the warrants only dilute the outstanding shares by 25% but that will still take a couple of months to absorb at the average volume. If George can pump up the volume, it will be easier for him to sell into the market.
If extra time is needed, Brian can stave off giving consent for removal the restrictive legend of the first tranche of series B conversion shares in order to let George sell his shares first.
So in the near term there's going to be a price battle between George pumping the stock, and George and the other warrant holder selling shares into the market. It could work out for shareholders in the short term if George is successful at pumping. The market seems to believe that George can push up the stock price, even if only temporarily.
This was something Shepherd George, CEO of Forwardly, was preaching before when he was trying to get people to buy shares of FORW: The warrants Forwardly owns in HMBL are now worth more than the entirety of Forwardly.
The warrants are worth about $50M and Forwardly's market cap is about $45M. If you trust Shepherd George, you can get a 10% discount by buying FORW instead of HMBL, and that's just for the warrants, not the rest of Forwardly.
However, I would personally recommend that you don't trust Shepherd George.
I agree. George, and maybe Brian too, seems to be setting up for a press release/tweet storm. HMBL might get exciting for the next few weeks.
Up almost 50%. The market believes that George can pump the bajeebers out of HMBL.
I was short through the reverse split. I remember when George said that shorts will be forced to cover as a result of the reverse split. I remember asking myself whether he was clueless or dishonest as clearly there wasn't anything to force me to cover. I was short through the reverse split with no issues. Since then it became clear that he's not clueless. He was just pumping HMBL's stock.
Now he's back in an advisory role at Humbl and everyone knows what that means. His job is to set up stories and disseminate fluff press releases.
We'll soon see how well George does in getting the share price higher with his efforts.
That appears to be the set up. If Brian doesn't consent to George's new shares having the restrictive legend removed, George won't exercise any more warrants and Brian won't get any more money from George. Brian has every incentive to help George turn those warrants into freely trading shares.
HUMBL President and CEO, Brian Foote remarked, “Once we agreed that an uplist of the company’s stock was in everybody’s best interest, the consensus of HUMBL management was that it was important to ask George to shepherd us through the process."
George is my shepherd; I shall not want. He maketh me to average down in penny stocks and leadeth me blindly through reverse splits.
I forgot, what is it that shepherds herd??
I would say people are mostly looking at the reasons why George Sharp is becoming more involved with HMBL now. The timing strongly suggests George only wants to pump the stock so he can exercise his HMBL warrants and sell.
Do you think George Sharp came back to mother shareholders like he did when he withheld information from shareholders about the reverse split??
I don't think Mother George is quite as motherly as he led people to believe, but in this case his warrants speak for his incentive to pump the stock.
Haha! George technically isn't lying when he says he has no intention of disposing of any stock at depreciated values. He intends to dispose of shares at prices as high as he can realize. That's why he just came onboard HMBL as an advisor to pump the stock.
HMBL up 27% to $0.51. The market has spoken. The market has complete faith in George Sharp's ability to pump HMBL stock higher. Now let's see if George can deliver.