is...retired
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MM's have nothing to do with it. They are brokers, and none of them have their 'eyes' on it at all. They fill orders that match their spread, and that is all.
You guys kill me with your ideas about MM's. When the share price goes up or down, it is BUYERS AND SELLERS, not MM's. The process is HIGHLY automated, no human fingers hit a keyboard other than yours.
Do you have an NSAV dividend? If so, it will be NSAV when it becomes unrestricted.
You don't borrow money to buy back shares. You use EXCESS profit to buy back shares. Otherwise, you use profit to grow the company. The LAST thing anyone should do is buy back shares before the company even gets off the ground and before it has ANY profit.
ALL revenue should be used to pay back the loans and grow the company. Share buybacks should be in the far distant future.
No, you can't buy at .12 if someone is willing to sell at .12...The MM gets a cut of every deal, so the MM must get them below .12...by the amount of the spread.
And anyone who just gives up on the stock to put their money somewhere else might just sell at market. That would allow the MM to get their spread. The seller would get less than .12 for their shares.
Wrong. MM's have a spread that must be met. If you place a limit order, and they can't find shares that meet their spread, they won't do the transaction. They buy at LESS than your limit and SELL to you at your limit.
They don't work for free, and they ALL work the same. They get a 'cut' of every buy/sell. That is how they make money. If you want shares, kick it up a tick.
No, not from the OS. WE own the OS - the offering is from the AS.
Any time the OS grows, it is dilution. Dilution simply means your owned percentage of the company is smaller. So, yes it is absolutely dilution.
Now it is ALSO an offering of shares from the AS, which means they are new shares that have not been sold. And, remember, SB turned in 1.4B shares of his own, and now a third of those are being sold out of the treasury to raise working capital. Nothing wrong with that, it's a good business plan.
Of course it is dilution. Any time the OS grows, it is dilution (you own less of the company.). They are selling half a billion shares to raise some cash. (450,000,000 X .0024 = $1,080,000) The offering is above current share value, so they must expect the share price to increase to that point or above.
Even though it is dilution, it is not a dump of shares at next to nothing to pay off a loan.
There is no way to identify dilution of the stock except if posted by the company, or divulged by the TA. The only actual way of knowing is if the OS is increasing - which it is not.
So, talking about it shows ignorance of the facts of public companies.
Fiscal year end for VRUS was 10/31...sooo….
Without any doubt, all filings must be chronological, since the 'subsequent events' section identifies things that happened after the filing. Regardless, neither the SEC nor OTC would accept filings out of order.
I guess we will see. I have never gotten a prospectus from etrade in over 10 years. I have read them on company websites and in filings, but have not received anything in the mail or as an alert via etrade from a company I had stock in. Generally, it is only 'shareholders of record' that receive them. Those being the shareholders with shares not held by a broker.
That short interest number is meaningless for sub penny stocks. To prove it, just TRY to get your brokerage to short a hundred shares of any sub penny stock. They won't do it. MM's short to get shares to fulfill orders, but that is not the same as intentionally shorting a stock, betting that it will go down. Mm's try to cover within seconds, or at least by close of the day.
If you don't understand the financial picture, consider this. If your brokerage WOULD allow you to short 100 shares of VRUS, that would cost you 100 X $2.50 or $250 PLUS the then-current share price ($.0066 X 100=$.66). That is simply to provide the margin the brokerage needs. Now, if VRUS dropped two ticks, and you took advantage of that, you would have made 100 X .0002 for a grand total of 2 cents. But to GET that 2 cents, you would have a trade cost of, say, $5, plus you would have had to put up the $250 to permit the short AND the $.66 to short the stock. You get your .66 cents back but have to pay .64 to close the short.
Only an idiot would scale that up to make, say $.20 or even $2, which would cost 100 times the margin...or $25,000 JUST to cover the margin only.
And, all of that would take place with a stock that is primed to take off. Who on earth would do that? Would YOU put up $25 grand to try to make $2 on this stock? How about using that $25,000 to BUY shares giving you almost 4 million more shares and instead bet that it would go up? The more likely scenario, obviously.
So, no one is shorting sub penny stock. No brokerage would even permit it. Look it up. Ask your brokerage, or ANY brokerage.
No one is shorting VRUS. No one is shorting ANY sub penny stock. It doesn't even make logical sense, to put up thousands of dollars in order to make tens of dollars...and that ONLY if the stock goes down...else you lose your ass...
You won't see a 10Q until the 10K is completed. They go in chronological order. OTCM will not change the stop status until they are caught up.
If your shares are with a broker, like etrade, you won't see the mailing. It goes to 'stockholders of record', which are stock owners directly. Look on OTCM for 'shareholders of record' to see how many that is. It is usually not that many, because most of us use brokers.
So, you are asking a bunch of people in the same boat? Smart.
Every stinky pinky CEO 'assures' its shareholders that a reverse split is not planned. But this company has already approved one. If you don't understand the mechanics of a reverse split, you should talk to people that have gone through it. I will never own a single share of any company that is going through a reverse split.
In the moment in which the split takes place, your shares are frozen at your broker. ALL shares are returned to the company and NEW shares are issued to you in the ratio of the split. You cannot buy or sell during this process.
But lenders can convert AND sell the shares they get through the conversions. And, they DO. You will see the share price begin to erode for a few days after the split until it settles at a new price. If you hold through the split, you will LOSE MONEY!!!
The solution to this problem is to sell ALL of your shares BEFORE the split, wait for the new price to stabilize, THEN BUY BACK IN, if conditions are suitable. Guaranteed to NOT lose money, but you WILL have more value in the portfolio by doing this.
I have watched poor folks lose more money through stock splits than through any other structure. I have seen the share price AFTER the split drift back down to what it was before the split. If you hold through that, you would lose 75% of your portfolio on a 1 for 4 split.
The AS increase, the change in par value and the reverse split approval are posted in filings at OTCM.
AS/RS Approvals-Schedule 14C
The stated reason for the increase in AS is to provide shares against the 1.5M loans:
The Board believes that the availability of additional authorized shares of Common Stock is required for reasons including, but not limited to, the following:
in order to avoid defaulting upon its obligations, the Company must satisfy certain covenants in its debt instruments which, among other things, require that the Company maintain a certain reserve of authorized, but unissued shares of Common Stock;
certain of the Company’s debt instruments and preferred stock are convertible into shares of the Company’s Common Stock. Therefore, the Company must maintain a sufficient amount of authorized, but unissued shares of Common Stock adequate to issue shares of Common Stock upon the conversion of its outstanding convertible debt instruments and preferred stock; and
the additional authorized shares of Common Stock will provide the Company with additional flexibility to issue Common Stock for a variety of general corporate purposes as the Board may determine to be desirable including, without limitation, future financings, investment opportunities, acquisitions, or other distributions and stock splits (including splits effected through the declaration of stock dividends).
That big AS increase is not for mergers and acquisitions - it is STATED PLAINLY in the filing that it is to reserve shares in case the loan doesn't get paid back. It will be difficult to pay the huge loan back by the end of this year...the handwriting is already on the wall.
MM's know no such thing. They don't even LOOK at stinky pinkies - it is all automated using high speed computers. It is dumb to blame MM's for anything - they are brokers, just filling orders to buy and sell - all they care about is making their spread, but that is not something that some idiot in a tin foil hat does in his basement...
People need to learn what MM's actually do instead of blaming them for price fluctuations - it is SHAREHOLDERS that make the price go up and down...
Claims that there is a 'waiting period' between significant events should be accompanied with a link to prove it. There won't be such a link, because there is no such law. Public companies only need to file 8K's for significant events, and there is absolutely no 'waiting period' for doing so.
The reason for the increase in AS is stated in the fins...it is to cover the debt that they took on. Shares must be reserved in case they default on the payment and have to dilute in order to pay.
Tyson foods has an OS under 300M...
I won't be alive when VRUS market cap is in the billions...because that will never happen.
Finra has nothing to do with changes in the AS...it is determined by the board of a company, and recorded by the Secretary of State for that company. Finra doesn't care what a company's AS is. And Finra doesn't have any such time limits between significant events - I don't know WHERE people come up with such loony ideas, but the rules all public information if one looks for it.
Quiet period in public companies means no trading for insiders except during certain times. Yes, there are other things they are not allowed to mention publicly, but that is not because of a 'quiet period' - it is simply illegal to discuss internal matters in public.
I have to call bs on that - the quiet period is all the time except during the 30 days after filing fins for insiders. Not filed yet, so still in quiet period.
MM's don't get 'caught' short...Their whole business model is based on borrowing shares to fill your orders, and usually, they cover in under a second...but always by end of day.
MM's are simply order fillers - like the checker at your market. They do not buy up shares and hold them, and it is illegal for them to profit by doing so.
Everyone seems to need a boogeyman to blame for share price, but it is ALWAYS due to one thing - larger shareholders. They have set buys and sells, long term, and can hold a stock in a certain trading band for weeks. Even I do that. Any stock that bounces around is a good candidate for making easy money...all we see here is the RESULT of such trading, and attribute it to everyone except the shareholders, who are the ones doing the buying and selling.
No one is shorting sub penny stocks. Get real. Don't believe it? Just TRY to short 100 shares of this stock and see what your broker tells you...
If anyone bases their buy/sell decisions on the ramblings of posters on this message board, they deserve what they get. There is no substitute for research.
The website was taken down, but will reappear as hexagon holdings...
They already stated that it would be late because of the recapitalization, then it has to be audited. No big mystery there...
It was due 01/31...late now. That's why there is a stop sign...
FYE for VRUS is 10/31, which is easily found by simply looking at OTCM...
There are no 'shorts' in stinky pinky sub penny stocks. Period. Another old wives tale. Anyone that understands margin trading (mandatory for shorting) knows that. MM's obviously do short, but that's how they work anyway - they borrow when they can instead of buying, then cover by end of day.
MM's have nothing to do with stock price, and they don't care if it goes up or down. All they care about is getting buy and sell orders, and making their spread. It is all computerized with the fastest computers you can find. All they try to do is beat the other MM's to the buys and sells.
It is nonsense to 'blame' MM's for stock price changes. It is TRADERS that affect the price. MM's absolutely have no interest in the price at all, and they CERTAINLY don't try to change it. That is a myth, like so many others on this forum...
Consider what a whale with 100M shares can do to price by placing strategic buys and sells, at the same time, where they gain shares when low and sell them when higher...even I do that...
All you need is a stinky pinky that bumps up and down around an average, set up your buys and sells, and sit back and let the computers do the work.
An insider in a public company is anyone as director or above. But also, spouses of CEO, CFO, etc. An insider may or may not own shares, but they DO know what is going on 'inside' the company, and are thus banned from buying or selling stock except within the 30 days after filing fins. Been there, done that.
Banks and other financial institutions may also be considered insiders, if they gain any information that is not available to the public.
In short, anyone that has non-public information about a company, and profits from that knowledge, is breaking the law.
There are no institutions dealing with sub penny stocks. Period. No investment firm would put institutions in the highest risk stocks there are. Stinky pinky at STOP...Yeah, right, institutions...koff-koff...
Trades happen above the ask when someone buys at 'market' and the mm's execute the trade for them. Ask may be one price, add the spread and that's the price it is fulfilled at. Standard operating procedure, and is why I NEVER buy or sell at market.
The AS is not actually being reduced...the AS of Hexagon is ALREADY 4B. The ONCI AS will never be changed by the current CEO...ONCI will be abandoned, and probably for sale to some company looking for an empty shell...
The TA is listed on the OTCM page for every OTC stock...