is...retired
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There has been no buyback yet. One has been approved, but it won't start until an 8K is filed with all the details.
No one pays more than asking price. MM's MUST deliver 'best', so they can't charge more than their ask.
Oh, so now you think etrade is a trader instead of a brokerage, and that they can be shorting penny stocks. Oh, my lord!!!
Etrade spun off their MM division years ago.
You do realize that all these brokerages have rules and that at any time, one or the other may hamper your ability to buy certain stocks, right? It is a complete waste of time to change brokerages over this little issue. Just wait it out, and buy by phone, if you want. You can sell unassisted.
You guys should stop complaining about etrade. You signed their agreement. They are following rules, not arbitrarily trying to harm shareholders. Those rules are meant to PROTECT shareholders.
While we don't know what the violation is that prompted the stoppage of online trading, we do know that SOMETHING will happen that will cause that to drop. I suspect the S1 is what will do it.
In the meantime, you sound like a bunch of crybabies - grow up and wait for the news that will correct the situation.
The thing about these prognostications (pumps) is that they are always in the future - there is no track record in the future, the track record is in the history. There is only history of things that have not yet happened. I certainly hope you are not holding your breath...
The S1 is for registering shares. Shares may not change hands unless they are registered. The AS minus the OS are the shares that are not in play. Those must be registered with the SEC in order to be traded, or used to pay a loan off.
The situation with VRUS is that some shares are reserved in the AS, but they are not registered yet. The S1 will be needed to get them registered. Apparently, the plans have not yet gelled, so registering those shares has not yet happened.
The best news would be the appearance of the fins, so we can see whether they are making any money yet or not. I suspect not, because nothing is actually selling yet.
That was for the February notes. A newer note for BLF is not yet covered by AS.
I don't think they have sold unregistered shares, I think they gave a convertible note backed by shares that don't yet exist to get control of Big League Foods. Part of the 8K for that $600K note says:
NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON CONVERSION OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.
It may be that etrade finds that situation unacceptable. It is worthwhile reading both the last 2 8K's.
Yes, that is what I previously said...we know there are unregistered shares, and we know there is a significant event coming, because the S1 was already announced, but not followed through. I'd guess when the S1 is fulfilled, all the shares will be accounted for, and the restriction will be dropped.
Still speculation, but it is a very real possibility.
A private buyout would lock in my 93% loss. That would not be a good way to treat shareholders...
It will do no good to complain to the reps or threaten to move to a new brokerage. The reps don't even know WHY online trading is stopped. (It could be from a number of reasons.)
The stoppage is clearly meant to HELP traders, not to hinder them. Etrade has a rule, that rule is violated, and it will remain like this until the problem is solved.
No different than other brokerages that won't let you buy AT ALL on delinquent stocks. That is THEIR rule, but etrade doesn't care about that.
With most RS in stinky land, the price slides significantly just after the RS. One should be careful about when to decide to buy. The SS is in pretty good shape now, just need the price to stabilize. I'd give it at least 30 days, until the 'd' is dropped.
Pink Limited...it is disgraceful to let your company go delinquent.
The 'D' will drop in 30 days...
If it was filed, it would be on OTCM under Disclosures. I can't log on right now, so I can't say.
OTCM is generally updated upon financial filings. Float is seldom updated, but it can be estimated by reading the last fins..
You cannot say why this issue exists. You can only make guesses, just like the rest of us. But, we know there is a problem, we don't know what it is, and we don't know when it will be lifted.
Yes, we know VRUS talked to etrade, but we do NOT know that VRUS asked etrade to stop online trading. That makes no sense at all, and at the very, very least, it would amount to market manipulation on the part of VRUS, which would be illegal.
Get it right...
It could last a lot longer than 30 days. It is a restriction that demands VRUS FIX some problem. Would not expect it to go away until the problem is fixed.
I forgot to mention the most important thing about expectations of share price in the future...with a 1.5 B OS, the company would be a $1.5 Billion company at $1 per share. It is currently an $16 M company. Times 10, that would be 160 M. Times another 10 that would be $1.6 B. A 10 bagger would be nice, and maybe within the realm of possibility. But a 100 Bagger? Seriously doubtful. So, no $1 share price with 1.5B OS.
The OS would have to be smaller, but an RS would not change anything because that would not affect the market cap. Buying shares back on the market can't happen until those loans are paid off...So, that OS is not going anywhere but up for the rest of this year.
I don't predict, and I don't post possible prices. They are virtually always wrong, and 'experienced' traders know that. It's called 'blue sky' for a good reason. Draw a line in the stock chart for one year and see what the trend is. That's the best way I've found to see what a company is doing, along with reading the filings and PR's.
The thing about business plans in the pinks is that business plans change. I put money into the best business plans and just sit back and wait. If things go well, I usually sell enough to get my money back and let the rest ride. One business plan I put money in two years ago changed their entire plan, and the stock ended up in the low trips. I'm way upside down in that one, but I'll sit on it until it eventually comes back and will get out 'even' if I can.
Yes, VRUS looks promising. That does not mean it will work out as expected. It does not take much to ruin the stock value.
The AS was not increased for uplisting purposes. It was increased because the $1.5M loan was collateralized with shares that did not yet exist. Those shares are 'reserved' to pay the loans off, in case it is not paid off with profit. Once those loans are paid off, I would expect the AS to be reduced back.
Uplisting will not happen with an OS over a billion shares...
It might hit a dollar, but not with a 1.5B OS...Not soon, not ever.
No, there was some sort of a dustup where MLB disliked the MLF name. That's why it was changed. I read it a while back, and you can find it if you read through their tweets, filings, etc.
They are the same companies - BLF will be a wholly owned sub of VRUS when the paperwork is finished.
I've never seen (previous) private company financial information made public when merged into a public company. Of course, VRUS would have seen the books, but I would assume the books are/were not in a state for public consumption.
It was a private company. Fins are not made public for private companies. But I don't think there was much revenue anyway - the ice cream packaging was not done. The real appeal was the big league licenses. The company sold for only $600K, so there could not have been a lot of revenue.
The 5 days are trading days. So if a holiday happens, it is not counted.
The reps at Etrade don't even know WHY online trading has been stopped. I talked with them at length last week. You would have to contact someone in charge of these issues to get a reason.
But frankly, since VRUS has already announced an S1, but not followed through with it, I suspect that is the basic reason. An S1 means shares are going to be offered, but there are no details of how many, and when. We also know there are unregistered shares in play, and an S1 is how you would get them registered.
VRUS got all the CEO's shares of the private company in return for a $600K note. Since Big League Foods will probably be brought public, there should be shares of that becoming available. VRUS has stated that BLF will be a wholly owned subsidiary, so it should become public. Again, it would require an S1...
So, it's complicated, but my guess is that VRUS announced 'big things' coming, which could increase volatility, and that alone could be the reason for the stoppage.
It was filed in the last few days. You can read it on OTCM...
Fraid not...The TA is responsible for updating OTCM, and it is generally done in sync with filing fins, or any time the company askes them to.
Garnock doesn't have any shares yet. He loaned the company money with shares as collateral. He only gets shares if he isn't paid back by November.
Form S1 is filed by private companies before going public (IPO). It describes the business, and how the proceeds from the IPO are going to be used.
Since VRUS is already public, they may be involved in bringing a private company public, and in which they may have a vested interest.
If it's not that, it may be to modify their existing S1 to register sales of unregistered shares. I think this is what is happening, because we already know they are selling unregistered shares, and it takes an S1 to get them registered. That would be the Part II of the S1, described below.
Part II contains additional information that is not required in the prospectus.
Information found in Part II consists of:
Other expenses of Issuance and Distribution
Indemnification of Directors and Officers
Recent Sales of Unregistered Securities
Exhibits and Financial Statement Schedules
Undertakings
I didn't say they did. But posters here keep saying it. It is a ridiculous claim with the current OS...Dreaming of a stinky pinky going to mid-cap in under a year. That just does not happen. Vrus will be lucky to get out of the pinks this year.
VRUs will not get to Nasdaq with a 1.5 B OS. That would require a $6 B market cap, which won't happen in any reasonable amount of time.
The only way out of that huge OS is either a share buyback (using profit, after paying off that $2M debt) or an RS...
So, what they SAY and what is likely to happen is very different.
Well, he blocked me on Twitter, so guess what? He is violating SEC rules, because he cannot legally use social media to make public announcements unless ALL shareholders cam get that information.
No, I did not say anything specific to get blocked, but I know I'm not the only one.
If you were paying attention, they already filed a late notice...another 5 trading days. So, no, not yet.
The quarterlies are due 45 days after the quarter. Annuals 90 days. All available online for those the would rather read the rules than listen to a gossip board.
Of course, that WOULD require looking for it instead of asking about it.
reading comprehension much? I never said anything about etrade stopping delinquents - I've been using it for 11 years and have never been stopped. Nor did I say any company is delinquent...I said OTHER brokers don't permit trading on delinquents.
If anyone needs to become informed, it would be those that lack reading comprehension...They will never get it right.