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Honestly, I did not expect any PR simply because the extension for tender offer was made for almost one month, which was kind of random. Initially, it was for one day, then they extended for one month indicating shareholders concerns, calls and emails made them extend it. Logically, the extension should have been maximum 7 days considering first time it was only one day. Instead, they went for 30 days.
I mentioned once before that seems their deadlines setting are quite casual type for everything without putting much thoughts behind. First time, one day for tender offer, then extended by 30 days on the last day. Same for RM closing, first time 6 weeks, then extended to whole Q4 again, on the last day. You see the pattern. You may argue 1 day wasn’t enough, true. Even 6 weeks were not enough, that is also true. Does it not mean, they didn’t do homework in the first place?
Don’t get upset, I have as much interest in it like everyone else but we are not dumb, right? Most of us do other things in our professional life, we don’t do stuff like that.
Anyway, let’s hope we have a big smile at the end of everything.
If tender offer was after signed DA or at least with a definite closing date (like Jul 15), I would convert half of my position but too much uncertainties to convert. So I passed.
That face you make when you’re waiting for the DA, LOL.
Today was tender offer closing, thought, there will be some excitement in stock price but no luck.
Hope next week brings some good news!
As soon as it was delayed from Jul 15 to Q4 indicating CLX pursuing other business opportunities, from that on it has become a ‘Hope and pray’ type thing for PASO shareholders.
We can argue this everyday in million ways for and against but the truth is that the potential of RM happening has become completely UNCERTAIN.
MISSING LAST 10Q DISCLOSURE STATEMENT: This statement shows a lot of the details about the common shares, the details about those holding more than 5% of the common shares. PASO did not file this for the last Q, so we don't know what's going on there. That would show JG's latest shareholdings as well.
I am pretty sure PASO is not filing it on purpose. Yes, they failed to file in the past, but this time is different, they're hiding something, good or bad.
It's been more than a month they filed 10Q, still they have not filed disclosure statement and carrying that YIELD sign on OTCMarket.com.
Look at OTCmarket, PASO is still living with big YIELD sign, OTC is not shutting their doors.
There is always a way to do things, there are loopholes to use, there are exceptions to security laws. They have access to big lawyers, big asset management firms, they can always find a way to do things they want.
JG is playing in a different league.
Not saying right or wrong but if he wants to do in a certain way, he can achieve that.
CLX is a JV by USTG and SIQ. All we know JG/CSO for CLX. Where are the other people, representatives of USTG and SIQ?
JG has become everything for PASO and CLX. Technically, he is no one for PASO as he has no official capacity in PASO. He is CSO of CLX. You would assume there are other officers in CLX, right? Where are they?
This whole thing is like a ghost. We never hear from USTG and SIQ, nor from any other officers of CLX.
Friday rants!
Not sure what you’re eluding to!
You think everyone is merging with PASO and becoming one entity post merger to have 1 trillion dollars market cap?
Unless they tell us otherwise, still you’re looking at PASO and CLX. We know what PASO has and we don’t know yet what CLX revenue will be based on all the things they’re doing. But certainly in the initial years, it’s not going to be anywhere multi-billion dollars revenue.
So trillion dollars market cap? That’s almost impossible. Unless you’re thinking all the CLX business partners will combine to one entity post-merger, which is out of the question.
JG seems to like posting things on Twitter, whether it is CLX related or personal. To be fair, he is busy doing things for CLX and a lot of things are happening there, so he has every reason to be excited and share on twitter. The problem comes when we try to link them with PASO.
The poor guy can't even post things he is working on because of bunch of PASO people. Everything he does is not to do with PASO or RM.
Man, that's quite a statement. If that was the case, most people would take home equity and everything else they have and put in it, lol.
It's not that simple and straight forward, is it?
For all we know it’s signed and ready, they are just waiting full a full partner revel to announce their plans.
CLX is doing so many things, I wish CLX was a public company and we were a shareholders of CLX (rather than freaking PASO).
No worries. We are here and will continue to be here with a high hope.
Meantime, until DA comes, there will be ups and downs, speculations for and against, we have to live with that. Two and a half more months until Dec 31.
Sometimes happy, sometimes not, part of investment.
Good luck to us all!
The amount of time we spend here doing due diligence, fighting each other, if we would spend that much time, we could incorporate our own company, list it with OTC, get billions of AS authorized, make an LOI or a contract or two with some Chinese companies, create hypes on iHub and Tweeter and sell our own shares and make money, seriously.
Most OTC stocks are nothing but doing all this, rinse and repeat!
Let’s enjoy the game and have fun until we see a signed DA or LOI terminated. One will happen by Dec 31 2020 guaranteed unless on Dec 31, they extend LOI to the Q2/2021 (usually the extend on the last day of the deadline).
Don’t know about others but many times, I myself bought million or even multimillion shares of penny and sub-penny stocks and counted millions of dollars, days, weeks and months but ...You know the rest of the story, lol.
What will happen in the end no one knows but the fun part is OTC stocks always give people a dream to become a millionaire (and obviously, a Lambo dream).
You can buy a million shares for a couple of thousands and can dream to become a millionaire.
The longer this game goes on, we have a dream to become a millionaire (and a Lambo). Not bad!
If you follow PASO PRs and CLX tweets, they never suggested for any new partner joining in RM (and or CLX JV), this is mere speculation by us.
The official reason for the delay was for CLX to pursue other business opportunities. It was never for additional partners to join in RM (or with CLX JV), this is the biggest mistake and speculation people keep doing at all times.
That entire JV partnership is CLX (in other words USTG and SIQ).
The other partners are in a business partnership with CLX, not a JV partner(s).
Any company does business with CLX is not a JV partner, it's a business partnership.
Yes, that someone is 100% correct. The reason for that is that a private (and new) company does not have much going on in terms of legal, regulatory and other things. For a new company like CLX, all you need the JV agreement copy, some backgrounds on the people/company behind, their commitments, etc. They did not have any financials, any tax returns, no financial obligation with banks, nothing. There are nothing unknowns. Doing due diligence is a breeze for this kind of company. You ask a CPA firm to do that, it will take a couple of days at most. Same goes with PASO, not much going on there either. Again a CPA firm or lawyer will do it in 3 to 5 days. They already agreed upon major terms like 10m preferred and probably, the management and control on post merger, so making a DA takes a day or two as that is a template most lawyers have readily.
That's why they announced on May 28 to close it on July 15 in 6 weeks. That was ideal.
So yes, it's obviously easier to sign the deal fast.
(P.S.: I myself was involved in two mergers doing due diligence at the management level and trust me I know what it takes)
Someone posted a while back that it’s easier to sign deals as a private company rather than a public one. Any thoughts about this? I agree with your post 100% just curious if that’s a possibility.
Just tired of seeing this kind of global whales, more RM partners, audited financials, green signals from other global partners.
Let's be real here, all these are pure speculations and not needed for RM to complete. Most RMs are completed in 4 to 6 weeks, if you don't belive it, google it. For RM to complete they don't need audited FS. CLX was born only a few months before, what would they show in financials, nothing.
This is all CLX and PASO. First time they were having honeymoon and agreed to close it in 6 weeks on Jul 15. Something went wrong, they started making excuses and we have nothing else but to give them benefit of doubts and making speculations.
If CLX wants, they can still close it at any time. All these other businesses and new partners/partnerships are all excuses to delay.
In May, they knew what they were going to do and yet decided to close it on Jul 15 but did not for whatever reasons. Now just buying time. We have nothing but waiting.
This is a foolish thought that everyone doing business with CLX is lining up to merge with PASO/CLX. Many other people floated this idea before without any basis.
Unless we see any reporting/filing/documentation re this, this is just PASO and CLX RM. everything else is just baseless speculation, period.
It’s all CLX to decide if they want RM or not, that’s the only complication, there are no other partners (other than PASO and CLX) involved in RM and no other complications.
JG: “That face you make when you’re waiting for the final draft - It’s simple it’s clear! #safeharbor #partners #Latam”
Did he get it?
Different perspectives: Many people assume once RM done, CLX will be everything and PASO will disappear (kind of). Not so fast!
From business perspective, it is true that CLX will be the main revenue generator considering PASO has a nominal revenue base, so the argument of CLX being the driver makes sense.
From share structure point of view, the situation is little more complicated and we just can’t write off PASO that easy. Current share structure is as follows:
AS 2.5 b
OS 1.082b
Float 221m
Authorized but not yet issued about 400m
We know CLX is getting 10m preferred equivalent to 1B common. That will be like 40% of the total AS 2.5b and less than 50% of the current o/s (incl. CLX potential 1B).
From the above, it appears that CLX will not own more than 50% of PASO (and its current owners). So from controlling point of view, after RM, it’s not quite all CLX.
CLX may be doing better than expected back in Mar/May 2020. May be 10m preferred is not looking that good of a deal for them considering their business potential they see now. Could that be the reason they deferred the deal to Q4 to assess the situation and do some more bargaining with PASO? May be not, but CLX in early 2020 and CLX now are quite different. They’re doing a lot better.
It is definitely good for PASO and its owners but is it as good for CLS (with less than 50% ownership)?
We will know in coming weeks and months.
That’s why you need a DA, definitive agreement, which is legally enforceable, everything else is just noise.
LOI, letter of intent to do something is not legally enforceable, no matter what. They can easily say yes, when we said deal is on, it was on, now it’s not. We tried but did not work out. Logically, they should be held responsible but legally it’s not, law goes by its own way.
Anyway, let’s hope the deal is on and we don’t have to be disappointed.
There will be no legal consequences for them, it’s just an LOI, no legal binding really, they can come up with millions of excuses.
IF they really back out even after reassuring day before, we all should put media comments showing what kind of a person JG is, seriously!
Hope it doesn’t go like this!
HOPE NOT, FINGERS CROSSED. Me too have a very bad feeling. Man, if this is the thing we don’t wanna think or talk about, then there will be no place to hide tomorrow.
I never liked that vague Q4 (when they had a specific date first time Jul 15). They set Q4 so people forget but no one forgot. Now they have to hide changing everything and deleting all previous references.
Let's hope it's just updating things, lol
Their latest tweet:
“As CLX Health Consortium continues to grow, we are temporarily reconfiguring all social media platforms. CLX Health looks forward to sharing future announcements #HealthyAmerica”
Day before CLX assured us roadmap intact and that roadmap included RM/Pubco. If they left us behind, that will be a biggest scam ever.
I DON’T THINK THAT’S YHE CASE, LOL
That’s exactly right and that’s why they wanted to get it done first time in 6 weeks (May 28 announcement to close RM on Jul 16).
PASO being a small company and CLX being a brand new one, the due diligence and everything else wouldn’t take that long and they knew that. That’s why had decided to close it in 6 weeks. Most reverse mergers happen in quick time.
In this case also, the delay was not due to any regulatory or other challenges, the delay was simply CLX to pursue other business opportunities. That’s exactly what CLX and PASO mentioned in their PRs.
It’s all on CLX now to close it, if and when they want it. These DA’s are nothing but a template, takes a few hours for a lawyer to finalize. CLX and PASO already agreed upon the major terms like having 10m preferred and I am sure about the control and management.
All it needs CLX to go for!
Anyone says otherwise, don't have any idea as to how these things work.
Yup, that’s the best thing to do. One day you may have big smile on your face but this journey is not going to be that easy for sure. Enjoy your drink!
Actually, CLX itself defined Roadmap in a tweet and included RM/Pubco in the definition of roadmap. That’s the basis of my assumption. See below:
“CLXHEALTH’s Partner Co’s launch a solution today that will benefit multiple sectors. Our roadmap includes additional partners, RM/PubCo, and ?? ?? ?? opportunities. We look forward to this journey #HealthyAmerica #Covid19 #Patients #Labs #Access #VERA #Solutions #Doctors #Launch”
“CLX Health is pleased to announce @USClaro has joined the Consortium. The agreement paves the way for Claro to support the group with their technology assets and help desk services as well being a global reseller of a branded app to its enterprise and consumer clients #safehaven”
This tweet proves that when CLX (and or JG) refers partners, consortium and other partnership, everything is related to CLX business and outside RM.
When they say Roadmap Intact, most likely that one refers to PASO and RM (based on their previous definition).
This is what my interpretation was all along. Some people misinterpret and assume this partnership, consortium, global whales whatever CLX and JG say, everything to do with RM.
Does it mean you’re not as optimistic as others about DA/RM? If you were why you wouldn’t buy now as the price is cheap?
I said that many times that partners means CLX business partners, not RM. it’s not only new buyers, long timers get more excited with CLX business and tweets. That’s the problem. Focus on PASO and RM related news more than JG tweets. He is busy with CLX, that’s good if and when are part of it. Until merger happens, I am happy for CLX but not super excited.
Yea, sure, they're bound by NDA. What about CLX, are they not bound by? if they can say Roadmap intact, can't PASO say that? Don't be a gatekeeper. If you have an opinion, express it and let others do the same. Don't take everything personally. It's OTC, everything is not sunshine here.
Seems someone sold about 5m shares, that dropped price significantly. Question is why someone would dump such a huge block?
The one we belong to (i.e., PASO) does not say a thing, quiet like hell. We always look for the clues from JG and CLX. They talk about their businesses and partnerships and if we push, they through us a bite or two to satisfy us. Where is PASO?
People are hyping it up big time.
If tomorrow goes without any mention of PASO and or DA (which is very likely), it could be a big disappointment for many.
Not likely but still hoping for some positive news.
Just a heads-up, don't get disappointed if you don't get DA or RM related things by Thursday.
All well and good. JG is saying a lot of coded things that we are excited about, price is going higher, no complain.
In the past, JG mentioned things in Tweets, then deleted with questions and confusions. For me, he always mentions things directly about CLX and we try to link with PASO for obvious reasons, that's where we belong.
The only missing piece is that PASO is pretty quiet, they are not showing any direct or indirect excitements with all these developments.
Regardless, what is happening now and until Wednesday, I am 100% sure, these are all CLX and its business related, not quite DA/RM related. I think that will come separately.
So control your emotion.
Lol, you hit hard and we go dollar land in no time!
Targeting early Q4 (this was CLX tweet about RM): It could be anytime now, mid-Oct to early-Nov. Yes, it may not happen during this time but would you take a chance?
If you’re a short, cover. If you’re a long, hold. If you’re a flipper, decide what to do.
It’s an OTC stock (and an RM candidate), once news drops, it can climb 200% to 500% without a notice, there will be no time to take cover!
Next two days will be fun and coming days and weeks will be more interesting!