Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Unfortunately, you seem to have been misinformed as to the role of the transfer agent in that other ticker.
Folk were trying to convert debt into shares so UMA got the court to issue an injunction so that the transfer agent would be barred from issuing shares until the creditors were sorted out. Creditors had to file their claims with the court for sorting out whether they were legit or not. In the meantime, the transfer agent was just to not issue shares. That was their whole involvement. Since then Auctus has filed the only claim and UMA has now filed to bar any more claims as anyone has had enough time.
That's where it stands, they are waiting for the Motion to Bar All Un-Asserted Claims coming up on the 10th. There has been no dilution because the transfer agent was ordered by the court to stop giving out shares for a period of time.
Do you have a link for the transfer agent being responsible for "managing prior affairs including debt", I would very much like to see it for myself. I believe that they manage shareholders and of course conversions of debt into shares (they're the ones that hand out the shares) but they do not manage the company's prior affairs or debt itself. They just get something from the debtholder that says they are owed shares from the company and the transfer agent hands them the shares.
Also, do you have a link for "so when UMA settles the debt with the transfer agent, they reached an agreement on whatever was leftover", I would like to see that. That makes no sense to me at the moment.
BTW, I'm happy to share the court documents that I downloaded if you don't believe anything I have said.
When dealing in the OTC, mark me down as pessimistic most of the time.
In just one evening on just one board, UAPC, what I had to deal with:
There was the lie that transfer agents pay off the debts of their corporations.
There was the lie that RVD himself paid off the transfer agent.
There was the lie that I had commented a straw man fallacy.
There was the lie that the custodian had paid the entire debt of the corporation making it a clean shell when it was just the transfer agent's debt that was paid.
Amazingly, every single one of these lies came from the positively opinionated side of the board.
Yes, definitely mark me down in the pessimistic column, thanks.
No problem. Shall I mark you down in the "it is impossible for anything to go wrong" column?
This is the OTC. Unfortunately reality has a habit of rudely intruding upon the fantasies of easy riches that some can be swayed into believing are right around the corner.
Make sure you always think objectively. Just because you like the idea of a stock does not mean it will always work out. There is a thing called confirmation bias which is a huge issue in the OTC. Link
Folk really get into a stock and then all start reinforcing each other's positive beliefs while at the same time ignoring or calling false anything that goes against their idealism regarding the stock. It's a real psychological thing and it costs people their accounts all the time.
Listening only to opinions that everything is perfect and that there is nothing to worry about should be a red flag, whether due to inexperience and hopeful folk or whether due to nefarious powers hoping to take advantage of you.
I repeat, always think objectively.
I myself really want to see RVD succeed here. I like the guy in his interviews. But I've also survived several years in the OTC while most do not. I don't listen to all the flowery "merger any minute guys" and "keep averaging down it'll be worth it guys". That's all confirmation bias crap. Negative stuff I listen to with a grain of salt. If negative stuff is blatantly false then I ignore it. But it's not always false, and I want to know when there is bad stuff to know. I also do my own DD. And I've survived out here.
Hopefully we can all celebrate a nice fat RVD merger. But there are so many things that can go wrong.
Did you see the recent interview where he talked about how much hatred he has for his ex and how bad she shafted him in the divorce?
Until we get new ones, the most recent filing is from November 2015 which covered through September 30, 2015.
In April of 2016 they filed an NT-10K indicating that their 10-K to cover through 12/31/2015 would be late. But they never filed it. Instead, over a year later they filed a 15-12G, basically telling the SEC to screw off, there would be no more filing.
So we have no idea if they issued any new convertible notes or not since September of 2015 until whenever they finally turned out the lights. There may or may not be some new note surprises if and when Eddie finally gets some filings out.
As one can imagine, these companies don't fail because they're making money hand over fist. And we have no idea if they issued any new convertible notes during the time they were not reporting. It's possible they just didn't want to put in the effort to report if they knew they were going out of business anyway. It's also possible they didn't want to report because notes would be revealed which could reduce any buying interest in the stock. This would be a problem if insiders were trying to dump all they could before the demise of the company was obvious.
The last accounting of the insiders holdings consisting of officers and 5% shareholders was in the 10-K filed 4/16/15 covering through 12/31/14.
So, did they dump while they were not reporting? Do they still have them? Are they dumping them now? Did they issue new notes while they were not reporting? Do they still owe on them? Have they been converting? If so, are they dumping now that there is finally volume to dump into?
So until we get current filings we have no idea what is going on. That's what is so terrifying. Anything could have been going on in the dark.
Please, go into detail, don't leave us all hanging. What comment?
The TA deals with the shareholders, not debtholders. Please show any part of that stuff on TA's where it says they pay off debts for the corporation to noteholders. Good luck.
A straw man fallacy occurs when someone takes another person's argument or point, distorts it or exaggerates it in some kind of extreme way, and then attacks the extreme distortion, as if that is really the claim the first person is making.
-https://owl.excelsior.edu/argument-and-critical-thinking/logical-fallacies/logical-fallacies-straw-man/
I never said anything of the sort. To imply that I did is extremely disingenuous and utterly smacks of desperation.
The custodian paid the Transfer Agent for their mounting bills for doing the corporation's transfer agent responsibilities accrued during the time since the corporation stopped paying the bill. Do I need to prove it when the custodian made the announcement themselves as seen in Subzy's tweet?
Interestingly, all that has absolutely nothing to do with a corporations debtholders. Not a thing.
Transfer Agents don't pay noteholders. That's laughable.
Unless one knew exactly where the money came from to purchase the shell one could not possibly know that.
So, did RVD pay for the shell out of his own pocket? Please show your proof.
Meanwhile there are lies about RVD paying off all debt for this to become a clean shell.
Nope. Only the Transfer Agent's debt was paid off and it was done by the custodian, not RVD. And the custodian had to do it, it was not by choice. It was the only way to move forward at that point.
That was the custodian that paid that, not RVD.
LMAO! That was just the Transfer Agent debt if one actually reads the statement.
I doubt Rob would go into this if he thought he was messing up. But ignorance is bliss...
Does he even know Eddie screwed all his investors in that suspended ticker?
I guess investors are just crossing their fingers and hoping for some oversight then. Does that usually work out well in the OTC?
Well we've seen the result of Eddie running a public company. It got suspended and is now in the Expert market, wiping out all investors. I'd rather see RVD in charge, frankly. Hopefully he would have the sense to hire good consultants to help him run it.
But nope. Eddie is the one running it.
If this was Rob's show he would be President. But Eddie is the President. RVD as Chairman is not the whole f'n show here.
Ask yourself why Eddie made himself President and not Rob, especially if it is RVDCBD that is supposedly coming in. And don't tell me "because Rob is busy wrestling" - that's BS.
So anyone believing Eddie's "AMEX uplist" line got totally wiped out. Ouch.
LOL, the stinkie pinkie CEO with NASDAQ "plans". Gee, never heard that one before.
I really wish Eddie wasn't a part of this. I like RVD, I really think I would enjoy a bowl or a beer with him.
Eddie smells like a scammer.
And a million followers doesn't mean a thing if they're mostly 14 year old kids. Gonna need better than that for moving a business.
Are you seriously telling me to look at the market cap and divide by the OS in the filings? I don't think things work the way you think they do.
Take a real good look at the daily dollar volume and compare to the price action.
Have a good day, Sir.
Enjoy your "retail" experience while you are getting dumped on.
There are alternatives.
If only Instagram followers actually converted into dollars. So sad.
Thank you for acknowledging that the custodian officially filed that they were done back on 8/17.
Enjoy your CBD ticker on the OTC, wow, it's like they never existed before.
Why waste time trying to promote it? Deep thoughts...
The Motion to Discharge was filed 8/17. Yes, they were done with the process almost 2 months ago. It's only rubes getting suckered in by now.
https://www.clarkcountycourts.us/Portal/Case/CaseDetail?eid=YwKY99_Y8i8PCkHBZiez5w2&tabIndex=3
Eddie thanks you for buying his shares.
Still in the game. Maybe see you around sometime if that attitude is reciprocated.
Thank you for your refreshing measure of reality.
That's a piss-poor supply chain then. I thought it was the ebay store that was having problems?
In that case it was just a case of "perceived demand" IMO. Yah, "we're out of RVD-signed stuff, who knows when we'll have more" as he walks in the door to sign the fresh batch.
What exactly is "frequently sold out"? Please go into detail so we can all experience the magic.
Congratulations! An OTC CBD play!
Fir shir everybody will get rich this time, not like the others.
I can only imagine what wonders await now that UAPC actually has the same exact powers of filing that they have had for a long time now. I mean, it was what, 6 weeks ago that they claimed to have filed with OTC Markets? Oh gee, maybe just now it will actually count?
What's the deal? Were they legit back then or not until now? Inquiring minds want to know.
Nah. Eddie has been President since July second. Don't give me crap about they haven't been allowed to do shiznit until now.
It's been finalized for weeks. Anyone that thinks this is a transformative moment is quite delusional or is trying to sell you their shares.
GLTA
And August 17 was when the custodian filed that they were finished with their job. It was up to the court to process that.