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Have you not been part of a reverse merger before? OTC has gotten pretty bad as far as impatience and those wanting news constantly to pump and sell.
This is a high risk, high reward reverse merger play. It all rides on what the outcome will be of the final share structure. The company has followed through on everything that they have said and have no reason to think that they are not busy working on"
1. 10k and associated audit
2. FINRA name change approval
3. Share structure and prior company debt
4. Building the business
These items are more than enough to keep a business who is just recently completed a merger going public busy with there nose down. Once the items above start to get resolved we will hear more about item 4
If you are looking for instant gratification, sell and move on to the twitter/ihub pump of the day. this one is either a 10-100x or we loose it all.
Business is moving, Phillip Martin M ?@phillipmicallef 1m1 minute ago
Sugar ICUMSA 45.Available now.Please provide Port of Destination for best offer.Trial order accepted. phillip@sooum.com tel:(+356) 9988 7901
Just a matter of whether current shareholders will be a part or not, if no reverse split this is a 10x easy
It was clearly detailed in the letter but not sure where its at on the website now but it was posted right at the end of the year
They will not release that until the 10k, the only thing to currently go on is the shareholder letter stating no split.
They may be dealing with debt/Ortiz and that could be major dealings behinds the scenes before things are finalized.
I also believe they are working with FINRA for name chage aproval
What makes one legitimate and the other not? They are both audited and selling tangible products, I actually have some of VPOR's product so they are legit to the extent they have revenues and products
Nope, just trading as normal until more news is known. Big piece is final share structure.
Once the 10k is filed I am certain the news flow will be constant
Thanks for the info Bruce, no reason think negatively at this point as all speculation has turned up true. At this point we are waiting on the company to release revenues and reiterate no R/S
The past has little to do with whether money can be made at these levels
They didn't they said that one wasn't going to happen through June/July time frame and that beyond that they didn't currently have plans but were open to it depending on where things stood
From L2 Action looks like CDEL was shorting and just covered
And .0008 to .0032 was great, which is why you are here as there is money to be made
I said no dilution has happened in past few days which it hasn't
What BS is that, i think the past few days have traded nicely. No dilution, consolidating on decent volume after a rise from .008 to .0034
understood, but today's action will happen regardless of that $64 trade, as you have already prognosticated prior to the trade
Not sure $64 trade will have much impact, seeing BKMM on the bid is positive though
Are you serious, we have seen the same action for like the last 10 days.
There is like 150M on the bid at 2 and 40k yes thousand on the ask at 3
In fact the ask at 4 today was the smallest it has been during those 10 days, so i would say the attrition is working in our favor
Withstood dilution again today, it is obviously slowing down and there is some serious support at .0025 and LAMP and BKRT have been right below that on the bid. So as long as we keep holding here were a good to go
BKMM on the bid at .0025, kept raising it up after support seemed to be holding and BMAK at .0022 so should be ok to buy
BKRT on the ask showing 10k
Because even with $650k gross profit they will still be loosing money
I'm ok with a pump but flat out lies are no good for anyone, screaming merger when its a PREM14C stating its for converts. Just shows how dumb people are or how dumb they think others are
NO ONE INVESTED $1M, THEY ARE TRYING TO PURCHASE DIAMONDS AND ARE LOOKING FOR COLLATERAL FOR THE CASH PREPAYMENT
bringing up news that has already been posted that did not have an impact on the share price will not have one now.
Stop pumping the stock, right now the issue is convertible debt and the ability for the price to maintain while absorbing the shares,
Still not seeing anything where Clark holds any sort of management or board position with SWRF
This is being pumped or attempted to by 1 individual. The news today simply states that someone asked for collateral for prepayment and they need additional shares for dilution.
No merger, no acquisition just dilution
They spent a $1M to buy diamonds but due to the company's financial position they obviously asked for collateral to back up the prepayment which i do not blame.
Pump all you want but this is not good news or bad it is what it is
Why is pledging shares for future deliveries a good thing? How many companies must pledge shares of their company as collateral for sales?
What is wrong with you people, do you not read the filings. they clearly spell out what the nature of the increase A/S is for, they could not make it any clearer. As far as having time before it happens, sure there is time, but the current A/S is 600M so they have plenty of room for current dilution until this goes into effect.
As of March __, 2015, approximately one-third of the increase in the authorized shares of common stock, will be to be pledged as additional collateral to persons who have paid the Company an aggregate of one million dollars for future delivery of GIA-graded polished diamonds, as the transaction documents with such persons provide that the amount of collateral shall be subject to adjustment depending on the amount of diamonds which have been delivered and the market price of our common stock. The earliest time that any such shares placed as collateral will not be returnable to the Company is December 31, 2016, which is the deadline for delivery of the GIA-graded diamonds.
In addition, the second largest part of the newly authorized shares will be used to increase the amount of common stock which will be reserved for issuance upon conversion of outstanding convertible debt of the Company. The transaction documents generally require the Company to reserve between 3 to 5 times the number of shares needed for full conversion of the debt at any given point in time. Due to recent decreases in the market price of the Company's common stock the number of shares of common stock which must be reserved pursuant to such contractual arrangements must be increased. Upon full satisfaction of the debt (by payment or conversion into common stock) the reserves shall be cancelled.
The Authorized Increase will not have any immediate effect on the rights of existing stockholders, but may have a dilutive effect our existing stockholders if additional shares are issued.
We are not increasing our authorized shares of Common Stock to construct or enable any anti-takeover defense or mechanism on behalf of the Company or for any planned merger or acquisition.
Lol, except Ortiz is no longer affiliated with the company in a management or BOD capacity
He is not on otcmarkets
http://www.otcmarkets.com/stock/SWRF/profile
He is not on the website
http://www.swordfishfinancial.com/
So how is the info from prior years still relevant
Something like that, the concern is the O/S right now is about 300M, lot left to go, need .002's to hold and have enough interest to offset the dilution that is bound to come
It is not for any merger, part of shares are used as collateral for a $1M payment received by the company, how in the hell is that a merger????
Again direct quote from the filing
We are not increasing our authorized shares of Common Stock to construct or enable any anti-takeover defense or mechanism on behalf of the Company or for any planned merger or acquisition.
That is not a merger, that is simply pledging shares as collateral for sales made as the people who paid the money would like some assurance that they can recoup their payment
Direct quote from the PREM14c
"We are not increasing our authorized shares of Common Stock to construct or enable any anti-takeover defense or mechanism on behalf of the Company or for any planned merger or acquisition."
BMAK dumped about 10M shares chomping away at the bid support
There is no merger news, just confirmation of the increased A/S to 2B
We are not increasing our authorized shares of Common Stock to construct or enable any anti-takeover defense or mechanism on behalf of the Company or for any planned merger or acquisition.
If they are not using shares for this merger, how exactly would it happen???
Your posts are not relating to the current company, no one can dispute that the revere merger has been completed and the company is now Sooum.
So why bring up old irrelevant news that has nothing to do with the current company or management
They do not have revenue's of 883k in January, that is the number of bets placed.
Per the PR:Turnover amounts is a non-GAAP financial measure that reflects the total amount of bets placed in an accounting period. We consider turnover amounts to be an important measure for management to evaluate the performance of our business our revenue is directly related to the amount wagered. When evaluating our performance, you should consider turnover amounts as a supplement to other financial performance measures, including net loss and our other U.S. GAAP results.
Now gross profit of $74k is quite the increase. $74kx12months= $888k, the 9 months ending 9/30 the GP was $127k so a substantial increase as January GP is 58% of the 9 months ended balance of the prior year.
If they can get the G&A expenses trimmed down and increase revenues they can become profitable but be sure that you are preforming the correct analysis unless you are trying to deceive
I could see it being used as a study for arbitrage and market inefficiencies but not for valuation of a company or DCF modeling.
An economics class cannot tell yo whether a reverse split will happen or not, that is the only question
A/S increase to 2B
Be interesting to see if .0025 holds as bottom as it was the price given to new converts. They were willing to put up $100k for a set price of .0025, they have some big incentive to protect that price at least in the long term
That filing is 5 months old