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You made an interesting observation that everything for the benefit of us, the shareholders. Sure, no doubt about it!
Please read a quote from Chuck-Norris -Four Key Facts- as follows:
“Retail shareholders of PASO are the ABSOLUTE BOTTOM of the totem pole.”
Mr. Chuck-Norris made this point very clear and did it honestly. Now you decide if your observation fits to Mr. Norris’s description of us, the retail shareholders.
There are many different types of people but two types are prominent. One group of people are a great follower. They listen and do everything their leader says, they don’t use their heart or head, never think anything differently. Not that they’re bad people, they just don’t use their intelligence to analyze the situation, just follow the command and easy to manage.
The other group also follows the leader but they use their hearts and minds to analyze the situation, when needed. Often time, they are deemed a little arrogant or hard to manage.
Our goal is same, we want PASO to succeed, we want CLX to do well and RM to be successful but the difference is we belong to two different groups like mentioned above.
I belong to the second group.
Peace and good night!
They’re developing a habit of extending the deadlines at the last minute. Whatever the excuse is, don’t like it.
It was a dumb idea to set just one day Sep 18 to complete the tender offer. Any reasonable person would expect a few days to complete the process but they went for one day instead of giving at least 3 to 5 days.
Now when they decided to address the issue, now they extended by 30 days, again not a reasonable timeline like 5 to 7 days. Initially, 1 day, now 30 days, two extreme.
Same thing they did with RM closing. On May 28, they announced the closing will be in only 6 weeks on Jul 15. Then last minute, they extended to the whole Q4 with no particular date. Again two extreme 6 weeks to whole quarter.
I know we can make excuses to defend them in both cases but just feels like they don’t put much thoughts on setting up deadlines.
Tender offer extension PR quote:
“The Company looks forward to updating our shareholders on other positive related steps and progress made associated with this restructuring in the near future. “
What’s your take on this? What could it be?
The skepticism about RM happening would be much less if there was no hiccup (not meeting Jul 15) before.
Also lately, CLX having a lot of exposure in all fronts. Ideally, PASO being the Pubco should have the upper hand in RM but CLX recent activities show it all depends on them.
As a shareholder of PASO, we have more to gain or lose on happening of this RM.
As for JG and others, they’re in a different league, if they lose in one, they can compensate with another.
I think most of the people on this board have long positions and some are more confident than others about RM and that’s the main difference of opinions.
Veteran lawyers and accountants are there to take care of complicated merger issues, no worries about that.
Missing disclosure statements and thoughts:
Seems the missing disclosure statement with recent 10Q is a mandatory requirement per OTC Pink Disclosure guidelines.
I think it is a significant thing if you take positively. Probably, they don't want to disclose the new people on board (the RM related), so they did not include it with 10Q.
I looked through the guidelines if there is an exception to this requirement for not to file under certain circumstances, could not find any. I am sure they found out a way (or exception to the rule) to justify not to publish it pending RM and I am sure this kind of option is there to be accommodated.
Warrants: while going through 10Q, I noticed 18.5m warrants. Anyone aware of this?
Rule extract:
OTC pink disclosure guidelines requires Quarterly Reports (10Qs) – must include "Disclosure Statement" and "Financial Reports".
Disclosure Statements: Disclosure information pursuant to these Guidelines for the applicable period. (see the fillable form staring on Page 4).
LASER FOCUS ON RM
I don't doubt for a sec that CLX and their partners will do great things, there is every indication of that.
My laser focus is on PASO and CLX RM, if that happens, we will be part of all the great things they are doing. If not, we will be left out.
While we appreciate everything CLX does, let's keep our laser focus on RM, that's all.
So far, CLX great news releases don't affect PASO stock price at all, proving still there is no corelation between these two. Once RM happens or people see that PASO people get excited with CLX success, then we will see movement in price with CLX news.
Glad to see you're on top of everything particularly, finding anything and everything happening between CLX and their other business partners.
Wish you would be as focused on the very important issue "the bridge (the RM) between PASO and CLX" that we care the most at the moment.
The stronger the potential of the bridge, the better off we are.
Other than JG/CSO, who are the other main guys in CLX (like CEO, CFO and others)
We keep focusing on JG but I am sure there are other important guys, who will be the representatives of UST Global and SIQ in CLX Health.
Do we know them? We may follow them on twitter ...., see what's going on, if at all.
We are focusing too much on JG alone for everything (like PASO, CLX, RM, new deals for everything)
Anyone?
PERSPECTIVE PASO:
Tale of Canopy Growth, Bruce Linton and CB was somewhat similar to this in 2017/18, some of you may know this.
During 2017, when cannabis sector was booming, Canopy Growth, Bruce Linton and Constellation Brand (CB)/Corona beer maker, they all got together and it was like greatest thing ever. I was part of that before CB came on board. As soon as CB invested $5b, stock price went from $20 to $60 in couple of days, my bank was quite fat.
At the time, we had a whole bunch super enthusiastic people started chanting $150/$200 in a few months or a year considering CB is the largest Beer company, Bruce Linton was like a god, cannabis will have a market of like hundreds of billions of dollars.They would worship Bruce Linton for his extraordinary performances and anyone says otherwise, the super enthusiastic group would trash them right away.
I was always a devil's advocate, used to bring up issues, uncertainties but at the back of my mind thought, it made sense. Bruce L was really smart (like JG), CB is a huge company (like CLX going to be), MJ was getting bigger and bigger (like HA/TruPass), so anything was poosible.
So you guessed it, despite my criticism, i fell for, did not sell. Stock price started falling, like usual, the excuses were, it's a healthy pull back, coiling to sky rocket, waiting on new products to roll out, etc. etc.
That price came down to $12 to $25 range and CGC still trading in that range for the last 3 years. The idol Bruce L was ousted by CB, brought their own CEO, CFO and others, many other things happened. In the end, i moved on selling almost no profit (and some on loss that I bought with the hype).
Same thing happened with bitcoin, when it was at around $20k, some people started predicting $500k.
Not that super enthusiasts were pumping or lying, may be they believed in it, but just sheer belief sometimes don't work if you lose sight the actual target, particularly, on stock market.
In this case, we are doing the same thing with PASO, JG, CLX (and Tru and others).
The only request to enthusiasts, please do NOT lose focus from RM, that's all matter for us. We hear a lot about CLX and their partners doing whole lot but don't hear much about PASO and CLX together as much. Let's do all the DD on this more than others.
Hope this time, we are at the right side of the isle and everything goes well.
PASO's recent price action is such that -
As if market is in one side and we, the PASO dreamers are on the other side, living in two different worlds. How often we see that we are right and market is wrong.
The only justification that we are ahead of the game, lol, hope we are right, time will tell.
For now wait and see ..............
Tender offer:
The one missing piece of IMPORTANT info is the subsequent conversion ratio/price back to common (from preferred). It's not clarified.
IMPORTANT TO NOTE THAT FOR CLX THEY ALREADY SPECIFIED THAT THEIR 10M PREFERRED WILL HAVE CONVERSION RATE OF 1:100 TO COMMON.
We can assume anything 200:1 or anything else, that's just speculation. Would be nice to know now before we convert.
If we convert now from common to preferred using 250 to 1, what would be the ratio, when we decide to convert back to common (from preferred) after lock in period (let's say after 1 year).
No matter what people say, this is NOT known yet. Some people are getting mixed up with dividend and other things.
Most people wondering or asking this question about Tender Offer conversion back ratio from preferred to common after 1 or 2 years lock out period (not dividend or bonus share for 5000:1, that's a different issue).
THIS IS NOT IN YESTERDAY'S PR FOR SURE
What's the source of the following info or it's your assumption (they are not in PR)?
Quote from doogdilinger:
"And they can then be automatically converted at a 200/1 conversion ratio 1 year from now."
POST RM CONVERSION RATIO: STILL UNKNOWN
To be clear, it is a standard practice to clarify as to what would be the 'conversion ratio' (or sometimes called 'conversion price') beforehand so you know that when time comes, if you want to convert back to common, how many shares you will get.
Yesterday, they clarified the conversion deadline but not the post RM conversion ratio, which would be great. We can’t just assume the ratio 250 to 1 will remain same post RM.
My guess is they will announce the post RM conversion ratio depending on the common share price at the time so the ratio is fair but not necessarily 250 to 1, it happened in the past with others. This is one of the ways to reduce o/s share count, if needed.
Overall, if everything works out well, it won’t be a big deal if post merge conversion ratio is little lower as the stock price will be much higher.
Good luck
You're right, he can't ignore people asking questions even with nice wordings. Instead, he quickly blocks people on Twitter, LOL.
I guess he doesn't like people asking him any questions!
To be fair, everyone is different!
ASK YOURSELF A QUESTION - DO YOU STILL BELIEVE RM IS POSSIBLE?
If the answer is YES, even though you don't like the current price action, stay calm, stay the course, it won't matter.
If the answer is NO, then better to move on, it will make you go crazy.
You're free to make your opinions, one way or the other, but make up your mind.
I will stay the course until I hear otherwise. I still believe it is possible. But expect the criticism from me if I don't like anything.
Good Luck
BEST CASE AND WORST CASE
If RM happens, even if it goes to 0.01c pre marger, who cares. In the end, it will be a christmas.
If RM doesn't happen, let's say it will be around a penny. So the max risk is 4 pennies from here.
If you are ready to take that risk, stay calm. You can still comment positive or negative but can be peaceful.
UNTIL WE HEAR OTHERWISE re RM, NOTHING TO WORRY. OTC stocks can run up 100% to 300% in no time on a news.
Good news, the volume is light! If something was bad, you would expect volume to be heavy!
Going with your theory, if pre-merger massive value creation is the objective, they would showcase all the RM partners (e.g., PASO) more often than not to excite the market and other stakeholders, that would increase the stock price. So far we are not seeing that, are we?
If you have something to back up your speculation, we would love to see that.
Neither PASO, nor CLX indicated that they were getting more merger partners.
Let's not name your speculation into a false DD and create unnecessary expectations. CLX doing business deals with others, which is good (if and when RM happens) but doesn't mean every business partner is going to be merged with PASO/CLX. This is completely a wrong speculation.
Instead of speculating more partners are going to be merged, use your time to do the DD on PASO and CLX that will be useful.
Reverse merger runs:
The top ten stock gains:
LFZA(USSE) - ran from .0002 to .84 (420,000%)
SXML(AMRP) - ran from 0.03 to $50 (160,000%)
CYBR - ran from 0.001 to 0.50 ( 50,000%)
DEXTQ - ran from 0.0005 to 0.21 ( 42,000%)
CKXE(SPEA) - ran from .10 to 30.60 ( 31,000%)
OBDP(VQPI) - ran from 0.006 to 1.50 ( 25,000%)
PKTO(USAC) - ran from 0.0002 to 0.049( 25,000%)
FCNK - ran from .02 to 3.50 ( 17,000%)
VIPM - ran from 0.0001 to 0.015 ( 15,000%)
SLJB(LFWK) - ran from 0.0015 to 0.20 ( 13,000%)
@ Vipyr: could you indicate the name of that company you were invested in that completed RM last month? Just curious to know. Thanks
Quote:
“See I am in another pink, where the same thing happened. Everyone thought the reverse merger was BS, until last month when the reverse merger was completed.”
JG Cryptic Tweet:
“Email questions blanket answer: Nothing has changed since last update. Everyone is working their tail off to build an amazing Company organically and through partnerships. #TuesdayMotivation”
What was he referring to? What were the email questions? Anyone?
All that matters are a signed DA (and RM). If that is on track, few cents up or down is not a problem. We all know, these things go up 100/200% on a news.
If the signed DA news breaks, 200/300% will increase before you know it.
My focus is on DA/RM, any hint of happening (or not) should be the only focus!
Glad that I added some today in 5 cents, now looking good. Will continue to add if it goes below 0.06 during next couple of days.
doog, nice to see you back man, seriously. We get worried if you are not here. Ultimately, we are on the same boat. All good now!
I will be here with my long position, guaranteed until we see a closing on RM, one way or the other.
We may have difference of opinions along the way for sure but know that no disrespect. Cheers!
It can go "to the moon" in a jiffy, all it takes a good news. That's the fun part of OTC stocks!
@Smart Money: Take a break, will feel better. See Doog and his buddies took a break too!
There are a lot of things happening at the same time on Sep 18, new AS, conversion, dividends, etc. Not easy to digest for us, for market. It's like before earnings, no one is sure about the market direction. Then Jul 15 closing date deferral added more doubts even to the believers mind, which is normal. It's like after writing an exam, no matter how good you did, still you're scared.
There are a lot of potentials and simultaneously, a lot of uncertainties. Those of us believe everything will be fine and it will bring fortune, yet we are scared and that's normal. That shows we are not pump or dump, we are small investors/traders.
Hope for the best!
You may not convert if market price is higher than 0.06c but you may if it is 0.05c or under by Sep 18. Everyone knows that incl. PASO.
You all remember, they are using a $50b fund manager (arguably?) to complete the RM deal. I think they will use all arms and ammunition to bring it 0.05c or under by Sep 18 to motivate people to convert. People always want motivation to convert, no matter what. For a fund manager, controlling the price for a few days is not hard particularly for a 0.06c shares.
I floated this theory before too. I may be wrong but I think the price will start going up after Sep 18 or after conversion period expires.
Also I would appreciate if PASO would issue a PR clarifying the conversion period (dates from and to; and subsequent conversion ratio/price, if possible, very important to know beforehand).
Those are planning long (incl. myself), nothing to worry with the current price action. Although i am not happy but during uncertain times like this, stock price behaves like this, most people know that.
P.S.: Regardless of my criticism and analysis positive and negative, I am holding long and will continue to hold until there is a conclusion on RM. Meantime, i will continue to analyse what i think is going on both positive and negative (I hate pump or dump regardless of my position). GOOD LUCK
@Poison: RM happens even with dormant companies, all they need a PUBCO in good standing. Don't you think CLX knew about the size of the business of PASO? RM is a vehicle to go public without IPO and other things!
So revenue is a non-issue!
Cap table shows there is a 10m prefd. stock authorized, which is probably, for CLX, that's a good news.
Also noticed 18.5m warrants, may have to look into it more.
It's annoying to see RED day after day and week after regardless of other things, LOL
The main reason for CLX to choose PASO for RM is to go PUBLIC without going through the regulatory and other challenges to become a publicly traded company. It's NOT exception here, this is the reason most of the RM happens, this is a short-cut.
If PASO is your vehicle to become public, when flirting with other big shots, don't forget your little darling PASO, who will take you from private to public.
One more thing. When they agreed on May 28 to close the RM deal on July 15, you would imagine the high level terms and conditions were already agreed upon by both the parties. Otherwise, they wouldn't choose Jul 15 (in 6 weeks) to close it. It was then only a matter of doing DD by technical people and writing the DA by lawyers/accountants, nothing was really complicated.
CLX is a brand new company and PASO is a small public company. Based on my own experience, doing DD for these two is a piece of cake and that's why first time, they agreed to close the deal in 6 weeks.
My guess is everything is ready to go (DD, DA, etc.). If everything is in good standing, they will just choose a right time to release and close it.
Everyone would be so much happy if JG, CLX and their partners just would mention PASO's name from time to time as their partner, when they talk about HA, TruPass and their other partnerships. They don't have to mention RM and other things at all. Just take freaking PASO's name along with others, that's all.
Hope all is well, just a matter of time for things to settle down.
People buy some shares and get 1 preferred free for every 5000 common. Train is leaving, the sooner you buy, the higher the chances it will be in your name and you get your preferred, nothing to lose! Don't wait for the last minute, good luck!
This is one thing i am more interested about at all times, the bridge between PASO and CLX.
Any news about DA and or RM is the greatest news for PASO and its stockholders. PASO is one side of the coin and 'CLX and everything else' is the other side of the coin.
'DA and RM' is the bridge between PASO and CLX. Any update re this bridge is the best news for us for now, everything else is just noise. Good luck to all of us!
Yes, you're right, when there is a secondary market for convertible preferred. But at this point, we are not talking about what will happen subsequently. We are talking about the conversion price on Sep 18.
I took the time to respond you nicely and honestly and you come up with this? Wow. Please follow whoever you like. Again, goodluck!
@Reader3, sorry bro, you need to do some research about preferred stock and how it works, your idea about prefd. stock is not right. This is my expertise, either trust me or pl. do some research. Good luck!
Yes, but you have to do the math. If you are converting 250 common for 1 $15 preferred, it comes to 0.06c. That's why two terms are used for preferred to common, one is 'conversion ratio' (in terms of quantity) like 250 for 1 or 'conversion price' (in terms of dollar value), which is 0.06c. Some companies use ratio and some price.