is...retired
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.
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...
You posted about short volume, not short interest. They are not even remotely connected.
You do realize that short volume has nothing whatsoever to do with 'shorting' the stock, right? Google for 'short volume' to learn what it is about, then don't bother worrying about it...
The delinquent debt might be cleaned up, but new convertible debt due later this year has been put in its place. At pink stop, missing annual report and shortly missing Q1 filings. Dropped out of OTCQX to pink and out the bottom of that to a stop.
It will take some effort to dig out of this very deep hole...I'll watch from the sidelines to see what happens. But that 7.5B AS is going to be a problem - when they set it up that way, they usually use it, or at least part of it. Yes, I know what they said about it, but the fact is that it is convertible debt, due in a few months, and they don't seem to have sufficient income to pay it by that time. This is a company to watch, not to place bets on...
You would have had to OWN the shares BEFORE ex-dividend date, which was late May 2017, if I recall. I got 500K shares for my dividend in October, I think it was, but bought more NSAV since then. Only the shares that were owned before ex-dividend day count toward the 10% dividend.
The increased AS is NOT for growth. It is because of the convertible debt which REQUIRES shares in the AS to pay off all the debt with shares...it even says so in the filing. It is illegal not have the shares in the AS, as no lender would lend money without a guarantee of shares being available to pay with. You are looking at some huge dilution if they can't pay the loans off fast enough...
I read it as pink stop, missing last annual report, increasing AS by 5X and one or more reverse splits already approved. That is enough catalysts to prevent me from buying any of this stock. I will keep an eye on it to see if the ship can be righted...
Anyone holding stock through a reverse split will find themselves unable to trade the stock immediately after the split, while noteholders will be able to dump, and will do so, dropping shareholder price AFTER the split. By the time you can begin trading it again, you will have lost substantially - been there, done that, learned my lesson. Now, I always get out before the split, wait until after the split and expected drop, THEN buy back in if conditions are suitable.
With etrade, I have placed orders for 20M shares of a ticker, good for 60 days. As the price bumps up and down, it slowly accumulates. I don't do anything - it is all done by the brokerage and mm's.
There is no paint down - that would imply someone did something intentionally. The only thing that was done was that the MM's covered their daily shorts. This happens EVERY.SINGLE.DAY on almost ALL.OTC.PINK.STOCKS...
Yeah, right...no more press releases until August, when the buyback is complate...uh, NOT!!
SEC Share repurchase rules:
Origin of Rule 10B-18
The SEC instituted the rule in 1982. The new rule allowed a company's board of directors to authorize the repurchase of a certain number of shares. Subsequently, the company could purchase shares as long as it adhered to four conditions.
In 2003, the SEC amended the rule, requiring companies to disclose more detailed information on share repurchases on forms 10-Q, 10-K and 20-F.
The Four Conditions
The manner of purchase: The issuer or affiliate must purchase all shares from a single broker or deal during a single day.
Timing: An issuer with an average daily trading volume (ADTV) less than $1 million per day or a public float value below $150 million cannot trade within the last 30 minutes of trading. Companies with higher average trading volume or public float value can trade until the last 10 minutes.
Price: The issuer must repurchase at a price that does not exceed the highest independent bid or the last transaction price quoted.
Volume: The issuer cannot purchase over 25% of the average daily volume.
No, it does not have to be the same for everyone. Read the rules if you want confirmation.
MM's set their own buy/sell spread. Each one is different. All MM's care about is getting their spread - that is how they make money. They often 'buy' short from a seller to fill an order, then have to cover at the end of the day.
We use brokers, and are governed by their rules. MM's ARE brokers, and have their own rules.
Most of the end of the day 'trading' is MM's covering their shorts. That is why such odd numbers are seen too -
I doubt the buyback is public yet...there has been no 8K filing regarding the buyback, so any buybacks are likely private deals with shareholders of record.
The very fact that you insist you can make money using charts on stinky pinkies is enough for anyone to know that is BS. It doesn't work on stinky pinkies because they have no fundamentals..no eps, no profit, no nothing. You can chart a fly's trail, that doesn't mean you can anticipate where it will go...
If charts worked, EVERYONE would use them, and EVERYONE would be rich. NO ONE would lose any money. That's not how it works, as anyone who has been in this market should know.
BS! You could do as well with a dart board...
Charts are meaningless in stinky pinkies - all one has to know is that they occasionally spike then drop down and bump along the bottom for months, then another spike. Stinky pinkies share price goes up and down based on speculation, not valuation. Again, totally meaningless. This isn't Microsoft...
No, it doesnt have to be the same for everyone. And it won't be any of us using brokerages. The bulk of shares are held by the whales that don't use brokerages. Look at OTCMarkets for 'Shareholders of record'...those are the ones they will be contacting. We, as a group, probably own less than 10% of the total NSAV shares.
At some point, there will be a disclosure of how many shares were repurchased, and the price. It is public record.
The AS was reduced once already.
You cannot change the AS of a public company without going through the SOS of the home state. That costs money. Who CARES what the AS of ONCI is? It is meaningless, since the company shell is going to be vacated, as the move into the Hexagon shell takes place.
The AS of Hexagon is already 4B...The AS of ONCI needs no change, as it will become an empty shell after the 'move'. It will probably be sold to another company that needs a shell to reverse merge into.
I suggest you go to the OTCMarkets.com page for NSAV, then READ the SEC filings, INCLUDING the 8K's.
For some things, the SEC still requires filings for any public company.
That would be illegal. SEC rules for significant events require advance filing of intent, along with how many shares, how much they will pay, etc. No filing, no share buyback...watch, you will see.
They have announced the PROGRAM has started, but the BUYBACK has not, and won't until there is a filing.
Some people have a base amount of stock, as well as a 'flipping' group. With a stock like ONCI, which ticks up and down a few, it is easy to set buys for when it's down, and sells for when it's up. You sell by lots, with the lowest lots going at the highest profit.
That way, you make money while it's dithering around for months on end, but still have a holding for when it takes off, if it does. And still maintain a long position...
I can't think of a better way to handle stinky pinkies, since they pretty much all do the same thing - dither around near the bottom, with occasional spikes...
It STILL is not a reduction - it is a new company shell with a lower AS...and by lowering the OS, it now fits under the Hexagon AS...
No, the AS will not be 'reduced'. Hexagon is already a public company with an AS of 4B...we are just moving into that shell...
Well, DE would not permit them to change their domicile while they owed back taxes. This is not done as fast as one might think.
But Hexagon is already a valid public company in Co, and I would assume that the transaction needed to migrate us is to establish a 3rd company to migrate ONCI shares to, then to migrate to Hexagon at a 1:1 exchange. During this time, we will not be able to trade ONCI or hexagon, so make sure you have sold or bought before it hits. So far, we don't even have a new ticker, and I've looked for various potential names - most are already taken. It will probably end up being something like HXG, which seems to be available.
A share reduction of shares that were never paid for (thus no money to the company for them), then given back. No financial transaction took place at all. This is no big thing, as a share repurchase would be...
No exclamation marks needed...just an observation that this is a valueless exchange.
There is no uplist without a $.01 share price. Long, long way to go for that with 3 billion shares out. That would be a $30M company compared to the current $6M value...
There is no dilution anyway. That trick is reserved for companies that live by borrowing, not paying and giving up shares to cover the debt. ONCI doesn't NEED to borrow money to conduct business - there is revenue enough to cover the bills.
There is no one shorting ONCI - get real.
What I said is that the market cap is defined by the share price times the OS. The share reduction in this case should not affect the share price because those shares the CEO gave back were never paid for in the first place. They were granted, free of charge. He gave them back.
If it was that simple, companies would give their CEO's billions of shares, then they would return them to spike the share price.
No, it does not work like that. Market cap is DEFINED LEGALLY as the share price times the OS. The share price is not defined by the market cap. How can anyone not understand this most basic of concepts??
Nope...The price didn't go down when he was GIVEN those shares, nor should it go up when he gives them back. They were non-trading shares to start with. They were GIVEN to him, and he GAVE them back. Price should not be affected, other than the enthusiasm generated by the action. In other words - mojo will help the price a little, but nothing mathematical about the share reduction will change the stock price.
No reason for the stock price to increase on the return of the CEO's not trading stock. The stock price is exactly what people are willing to pay for it.
The Market Cap was not updated with this change in OS...but it should be soon...OS X SP...should be 5,279,700 at current price of .0017. We can check that tomorrow...
ln addition, on March 37, 2015 20,000,000 common shares, plus 30,000,000 "Series A" preferred shares, were issued to Timothy J Owens (our Chief Executive Officeq Chief Financial Officer, Treasurer and Director) in recognition of services provided to the Company and in consideration for the transfer to ON4 of the sole ownership in and to intellectual properfy, business plans, website and website designs, business knowledge, business contacts and relationships, software and computer programs, trademarks,
Last year the attorney letter was not submitted until 3/31 - 5 months after fiscal year end...the previous one was not submitted until June - a full 8 months after FYE...