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The other part is that CLX is a new thing, they don’t have much either. Although they’re doing a few things now, that will take time to show results.
It would be a different story if USTG and SIQ themselves wanted to merge with PASO to become a public company. Unfortunately, that’s not the case. They created CLX, a shell to do something new and merge with PASO. So truly two shells are joining each other.
The big hope is USTG and SIQ will support CLX (or newly merged co) to do something big but again they are starting from the scratch.
It would definitely add some value to the PASO shareholders with RM and hype around it but if you dig deeper, not a whole lot going on in terms of short term revenue and other things because of the merger.
Any different take on it?
All depends on one’s own DD and interpretation about the stock and its potential. Everything else is just noise. We saw how people tried to influence others one way or the other in the past and moved on. Same thing will continue to happen.
For now, it would be nice to see PASO complies with filing missing disclosure statement, that will give us some info about the changes in shareholdings and they will be compliant. This will alleviate some skepticism that they’re hiding something.
Both doog and MFN have valid points raising issues and justifying the concerns respectively.
The problem here is that concerns always take precedence over justification (which is basically reasonable speculations by MFN) particularly, when things are not going well.
In this case, the price action, negative change in share structure, delaying RM closing date by almost 6 months and without a particular date, extending tender offer, extreme silence by both parties and no positive action towards DA/RM fueled the concerns to a higher level.
At this point, there must be some kind of indication or communication by PASO and or CLX is important to calm things down.
One other thing to remember, yes, the RM may increase the stock price to some extent but it may not skyrocket considering PASO does not have much revenue or business and CLX is a brand new company and they have virtually nothing for now other than they are doing a few things, which will take time to show the results. It's not that two very big companies are merging and people know the huge financials that overnight it will skyrocket.
So PASO and CLX can easily assure market forces and its shareholders that all good particularly, when things are pretty bad at present. PASO recently, did that while extending tender offer, so it's not impossible.
A little bit of positive indication through some actions by PASO (and or CLX) towards DA (and or RM) will start the run and put to rest all the skepticism. All it requires the good will, there is always a way to show the positiveness without violating any terms. Until then, I am sure the price is not going anywhere and the skepticism will remain.
Yes that happens ONLY when an LOI resembles a contract and have provisions that make you to comply or compensate.
If you read the LOI between PASO and CLX, there are NO such clauses to do something definitive, all the clauses are mere intentions.
This is like exchanging rings, not a wedding, that you can break without going to court.
But as long as both parties are interested, there is no issue. That's all we are trying to make sure that things are in order.
There is one difference is that now they have AS 2.5b AS against previous 750m. If we don’t get DA/RM (and they keep doing diluting), this pre LOI price will not be the price in future. It will be a lot worse.
When you’re in a battlefield, you take every precaution and look for every danger out there, just don’t wait on luck, right? That’s what we are doing, connecting the dots both good and bad.
Definitely will be happy to see a positive outcome!
An LOI is more like a memorandum of understanding (MOU) between the parties.
The only binding it has that both the parties are supposed to abide by the terms they agreed upon and specified in LOI (like not to disclose things, not to pursue others, etc.) in order for them to get a DA (and eventual RM).
An LOI is not a contract or formal agreement. This is more of a high level understanding. There is no real legal recourse against each other and that’s why we need a signed DA.
It’s not a question of patience, it’s the events and circumstances made people questioning. Before Jul 15, no one doubted for a sec. First delaying to Q4 and then the reasons for delaying, they’re not satisfactory by any means. Then recently increase in float and o/s shares and the continuing selling pressure. Then last minute extending tender offer to Oct. yes they’re giving reasons for everything. Anything can be argued for or against, you have to see if the reasonings are strong enough. People are not dumb. when you start doing stuff like this, anyone with expertise and experience will question it. Even super die-hard doog yesterday came up with 8 red flags, lol.
If you can’t get things done in a timely manner, no one places that much confidence on you, be it workplace or anywhere else, simple as that.
Same with me, lol
The next update on share structure will be very interesting.
Last update was on Sep 22, where we saw o/s and float increased, also saw changes in restricted, unrestricted shares.
Sep 22 update showed o/s shares increased to 1.082 billion (increased by over 300m), which was tolerable. If the next update shows o/s shares goes further up by another 200/300m, that will be terrible. Hope not.
True, not bad. Peaceful life, lol.
At least, we are here for the finish line, one way or the other. From this price point, worst case, it will go sub-penny, not that far. Best case, RM happens, we get lucky, lol.
Last time, they indicated they are pursuing other transactions in addition to CLX and will share with us, when more info is available. You never know, they may come up with something else that will give us a chance even if the big deal doesn’t happen. OTC stocks are good at pumping from time to time.
For now let’s relax and have fun!
This board is getting quieter!
What is so bizarre? I know for some people, they need all cheerleading. They don’t like any analysis, any constructive criticism, if you’re one of those, that’s fine!
Experienced drivers can see the lights, turns, signals way before novices .....
We all know that CLX is on HealthyAmerica app, staged or not, it’s all good. CLX is doing well enough in its own world, no one disputes that.
The most repeated question (often sounds annoying yet most important) is IF PASO is going to be part of CLX via RM.
If this potential RM bridge was rock solid, then everything else is good.
We all know LOI is still active and both parties said it’s Q4 but it’s not giving people much confidence due to other things occurring.
Looking at other things, some people are not so confident about DA/RM and some are, that’s the fight going on at all times.
For me, all DD should be focused on as to how solid the potential of RM happening based on the recent developments and ignore everything else for now. Circumstances changed significantly post Jul 15. Some can see it, some don’t.
Last 10Q missing 'Disclosure Statement' would certainly give us some clues as to what's going on with shareholdings (and related changes). Only god knows why they did not file it.
Although they did the same thing in the past, this time was different considering a lot of things are underway.
Lol, let’s enjoy debate, if possible!
Ok, DA is coming, RM happening, PASO will be $100 post RM, hope this is not deleted, lol
The selling pressure is obvious here last few days. You should learn and pay attention to the price action as to how it works.
This is not the price behavior to acquire shares, this is clearly for selling. Good luck!
The alternative could be someone is selling whole bunch of shares from a big bucket. They just wait for the right price and big bids.
The current price is not that high and if things are in place as we think, the price is not going significantly lower either.
So not sure if someone is trying to accumulate big or trying to sell big instead.
Ok, I will give it to you MFN. I looked through their 10Qs (i.e., balance sheets and equity info) after that tweet on Dec 26 2019 and seems they never removed that 10m Prefd. A convertible shares ($10k at 0.001/share) from the balance sheets in 2019 or 2020. It was there all along (even on last 10Q) despite the Board resolution to cancel them and tweeting it publicly, which was kind of misleading.
If the next 10Q (i.e., balance sheet equity info) shows that Prefd. A convertible shares are not there anymore on the books, that will validate that indeed they converted them to common.
@MFN: First of all, thanks for compiling all the events in a sequential manner.
I want to raise one point is that your assumption of justifying o/s share increase from 750m to 1,082m is a buy back of 10m prefd. A shares does not really make sense. Based on PASO Tweet of Dec 16, 2019, those 10m Prefd. A shares were cancelled (not converted to common or buy back) by a Board resolution (it clearly stated that PASO Board signed a resolution to cancel those prefd. A shares).
So your assumption of O/S increase due to 10m Prefd. A Share buy back does not really coincide with PASO's Board resolution of cancellation. I still think something else is going on here with o/s increase.
"representing precisely 329,998,018 additional shares issued since last reported on 9/11"
O/S increased from 750M to 1,080M shares - representing precisely 329,998,018 additional shares issued since last reported on 9/11, 1 week prior - see detail below regarding these shares presumably issued for buyback of 10M Series A shares for the merger
First time, you hit the right buttons. Although there are other things in play but I guess this is the kind of things we need to raise instead of just giving them a pass for anything and everything.
At the end of the day, we, the retails, are the most sufferer and they take advantage of us.
One thing is certain, we can't change the market direction one way or the other by telling the truth.
So constructive criticism is healthy for all of us.
LOL, no worries man, and don’t do anymore DD on their addresses, you will lose all faith on it.
Many penny stocks have addresses even worse. This is why people laugh at penny stocks.
Like Chuck_Norris and others say, Just think of JG and his bio, will give some comfort.
LOVE IT OR LIST IT:
My position on PASO is that either whole investment will be a write off or a big gains, no in between and I am taking that chance.
By the time, we get to know the outcome, one way or the other, either it will bring fortunes or it will go sub pennies before you know it.
You can take a chance and stick to it but you’re free to express your opinions, good or bad.
Remember, this is just an LOI, not a signed DA and or any agreement that they have any legal obligations. They don’t have to do nothing.
LOI is like you and I decided to do something together but later on, if you back out, I have no legal recourse.
We are all PASO shareholders, we have to keep an eye on as to what PASO says or does. That’s why I keep saying read PASO PRs. That’s all matters and all the clues are there.
People, unnecessarily paying too much attention on JG, TRu and others.
You see JG links his tweets with CLX, TRU and others but not with PASO. No one links anything with Paso.
The only positive thing now is active LOI, nothing else.
All you can do is pray and hope that all is well.
Hope his “Global Whales” and their “Green Signals” for DA will not leave as well, LOL
In every tweet, JG talks about things that are being done by CLX, his new baby, there is nothing cryptic about it. He gets excited about CLX successes and tweets, which is normal.
PASO people try to get something for PASO out of his tweets that is the problem.
Last time also I read his tweet about signed agreement and it was obvious he was talking about CLX’s some business deal, people thought DA. Even when he clarified that going forward everything will come from CLX, he did not say will come from PASO-CLX, just CLX.
He is 100% with CLX now, everything he says and does is about CLX, period. He is not the representative for RM. So let's leave him alone.
Or “We have this” means we have healthyamerica app that can show on the phone whether you have Covid or not.
That’s what Cramer wanted ..
Bridegroom is missing, lol
Either way it’s good for CLX. It’s understandable that JG is happy as he is a part of CLX regardless.
As a PASOians, we can be happy with all of CLX successes if we are part of it or if there is a mention of PASO.
Wondering what makes you feel positive about it!
Can you imagine those were the die-hards here and wouldn't allow anyone to say anything, not here anymore? Not blame them, they're smart and spending time where needed.
Very good question. I think you know the answer too. Like many others, I took a significantly, large position, so you can imagine, the loss is also significant.
Like I said people win lottery too, right? I don't have much confidence but still hoping somehow if they managed to get it done, LOL
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It's a lottery ticket now:
PASO's May 28 PR clearly shows the excitement re closing on Jul 15 and even showed the reason that Covid brought opportunity to close it sooner rather than later.
Anyone works at the management level knows how the deadlines are set and PRs are reviewed and written. You can imagine that when they set Jul 15 for closing, they checked everything with accountants, lawyers, regulatory and other requirements (incl. DD) and their own calendars and decided that everything works out to close it on Jul 15.
PASO's Jul 15 PR for delaying and the reason clearly showed there was no excitement. CLX deferred DD for other business opportunities. PASO said they don't believe it's not any less likely to occur due to delay.
If the delay was for DD, regulatory or other challenges, they would say "things are taking longer than expected or new unexpected exciting development happened, which is taking longer than expected".
The recent sell off: My guess the smart people incl. their near dear ones know what's going on and they got out.
At this point, hoping for a lottery win although by heart we know, it's not going anywhere.
I could be wrong but reading the PRs don't give any confidence about the RM. If you have a different take, I would suggest read PASO's PR to see the languages and ask yourself if you would write in the same manner if everything was positive and mutually agreed upon between PASO and CLX.
Definitely there are tons of potential even the way it is and that’s the reason we are all here (and excited about). At the same time, it’s not good for anyone to have misinformation. It doesn’t help anyone!
If USTG and SIQ would merge with each other with all of their assets and liabilities and create a new company CLX, then USTG and SIQ would be dissolved and they would operate as CLX only. Like when CLX and PASO will merge together, there will be only one company (not both). You would notice, USTG and SIQ are still operating their businesses separately despite JV is done and CLX is operating separately.
If you and I make a joint venture let’s say MNKARRY to do some business together, we are not putting our homes, cars and bank balances on MNKARRY. Instead, on the new JV, we can agree on to put some capital or whatever to do something and make arrangements to share profit and loss 50:50 or whatever from the new venture. That’s exactly what they did.
The only time you come with all your existing assets and liabilities if that is a horizontal or vertical merger. Here they did not merge, they just created a new JV CLX to do something new and planning to merge with PASO.
Hope this makes sense.
I am not asking you to STOP making your assumptions/speculations.
Tell me which part was misleading? I know what I am saying. If you have a different take, let us hear that.
As I said most of your thoughts are not any different than mine as they are speculative as well (not fact based)!
No worries, it happens to all of us!
The question was on O/s shares, not AS. I guess you did not pay attention and started everything.
Sure, that’s why I appreciated your assumptions and thought process. In real world, it can happen and I can vouch it from experience.
The reason I said “wish you were part of it....” and hinted as an insider description to see some validity to it.
This kind of hypothesis can come from a person, who is involved in the process or have experience about it. Why I know? Because I am from the same line and were involved in the past.
Anyway, point is everything we say or assume, even if they’re hypothetical, still that represents our assumptions and thoughts but at this point, speculative as we are not involved in this, at least not me. Not sure about you though. I would rather be happy if you’re!
Interesting, sounds nice and sequential as if some insider describing the actual events happened.
I wish somehow, you were (or still are) part of PASO-CLX deal. Until you acknowledge that it’s still a big speculation.
It’s fair to say both of our assumptions are logical but clearly speculative, not fact based.
So saying one is right and one is wrong, funny!