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Its possible even more it insider owed as I took from the filing that 1 person owned 53%
Old convertible cashing out. I will see if I can go back and look at filings bit might not have been the company selling just people grabbing cheap shares and converting while the time is right
And with action earlier this year I can't blame them could yield great return.
The issue with most companies on OTC is they dilute or issue convertible debt and either pocket or piss away the cash with no return.
Vapor Group has not diluted as evidenced on the face of the Q with 343M shares outstanding of which 85% inside owned.
They also used the Hanover loan to buy over $700k in inventory in addition to opening 4 retail locations. Oh and they also attended canibus cup, weedstock conferences.
Any investor can clearly see what the company is doing with the capital. I work for a public company that will do over $400M in rev this year and over 1.5 EPs. Couple months back they did a convertible debt offering for over 250M. They are acting more like a big board company and are raising capital that is being dumped right back into the company.
Until they prove otherwise there is no reason to question what they are doing. They increased Q2 rev by 2000% and over 2M in first 6 months of year on there first 2 quarters as a public company and there 3rd and 4 the quarter of existence
The issue with most companies on OTC is they dilute or issue convertible debt and either pocket or piss away the cash with no return.
Vapor Group has not diluted as evidenced on the face of the Q with 343M shares outstanding of which 85% inside owned.
They also used the Hanover loan to buy over $700k in inventory in addition to opening 4 retail locations. Oh and they also attended canibus cup, weedstock conferences.
Any investor can clearly see what the company is doing with the capital. I work for a public company that will do over $400M in rev this year and over 1.5 EPs. Couple months back they did a convertible debt offering for over 250M. They are acting more like a big board company and are raising capital that is being dumped right back into the company.
Until they prove otherwise there is no reason to question what they are doing. They increased Q2 rev by 2000% and over 2M in first 6 months of year on there first 2 quarters as a public company and there 3rd and 4 the quarter of existence
No worries happy to lend my accounting knowledge to anyone who does not understand GAAP for rev rec it can be quite confusing to those who are not accountant s
That is not true, that is using the cash basis of accounting. All SEC filers must use US GAAP which is an accrual basis. You must have earned the revenue and assume that you will get paid, that is why there is AR, Revenue that has not been paid. You can also book revenue that you have not even invoiced yet, its called unbilled revenue
No amount in AR are already recognized in revenue. If the amounts were not included in Rev's they would be included in deferred revenue on the balance sheet
VFIN def not diluting
Common Stock, $0.001 par value 343,536,386 shares issued & outstanding on August 19, 2014
Yes big boards that have much more staff to handle to workload. How large is VPOR's finance department? That is who works with the auditors to get things done. Then is all needs to be reviewed by management
Big boards have the cash to employee the people to get it done.
Welcome to the OTC, more do than don't due to the effort involved to get quarterly finacials reviewed by the auditors and then reviewed by management
If anyone has worked as an auditor or in finance of a public company knows the effort involved and these smaller high growth companies often do not have the staff to get the filings submitted by the SEC deadline.
I believe that is where the will go in a couple years, but by them they might be able to swing NASDAQ. they haven't been around long enough to qualify yet
http://www.otcmarkets.com/services/companies/otcqx-us/qualifications
They are fully reporting with the SEC and are a QB company. They could be any more transparent then they have and they have followed through on their stated plan from day 1.
Where would they up list? Any higher exchange would require higher share price.
They are fully reporting with the SEC and are a QB company. They could be any more transparent then they have and they have followed through on their stated plan from day 1.
Where would they up list? Any higher exchange would require higher share price.
Semantics, it seems the shares of at least some were purchased on open market but yes the float would now be 46.5% of the O/S
We know that the A/S is 950M per the Nevada SoS and we know that an insider owns 53.5% of the float.
This makes the tradable float small and gives the insider 53.5% interest in making sure a R/S doesn't happen as it would hurt them the most.
Assume O/S of 900M and revs in middle with $12.5M. With 10% profit margin and PE of 30 the EPS would be .04.
info on the Nevada SoS is not the only thing that people go on. But the info on the Nevada SoS clearly states that GLGT is now Turbine Aviation with 53.5% of the float bought by Victor Farias.
we have validated 1000% that the shell was sold
there was also the PR by miniaaaa mar stating that they RM was a done deal.
If one connects the dots it is clear that a RM is ongoing. Could it fall through, sure everything is a gamble on the OTC. But is the risk worth the chance that the RM goes through and this hits .05-.10 damn straight.
They would be industry leaders. Difference between big players and leaders. Like Dr. Pepper they are a huge player but not an industry leader
To clarify quarterly reports are not audited even on the big boards. They are reviewed for reasonableness that usually entails many analytical procedures. Only the annual report is audited.
They are doing everything they should to be fully reporting transparent company. More companies than not file late reports on the OTC as it is a timely process if you do not have the resources to satisfy auditor requests timely.
To clarify quarterly reports are not audited even on the big boards. They are reviewed for reasonableness that usually entails many analytical procedures. Only the annual report is audited.
They are doing everything they should to be fully reporting transparent company. More companies than not file late reports on the OTC as it is a timely process if you do not have the resources to satisfy auditor requests timely.
Most OTC stocks are a going concern as well. Meaning that even though they report there is substantial doubt that they will stay in business. Such is the nature of investing in the OTC.
Good thing the info on OTC markets is for old shell and not the new owners Turbine Aviation but everyone knows that who is on this board anyway.
I am speculating, The document says they now own 53.5%. If they didn't own it before but now they do, how else would they have increased their percentage? I guess they could have just increased the O/S and issued shares.
I saw that but that is not proof it is being audited that is speculation based on the filing.
there is no indication of an audit going on just that someone submitted a correction filing which could have been driven by the legal department not the audit team.
The best thing i took out of the filing is that they increased their holding since the original filing which lends credence to the share price being held down so insiders can get the percentage of the O/S that they desire
Can you post the DD confirming the audit is currently happening. I do not remember seeing that.
Well $1 may be a stretch but lets do some math
O/S 800M Float 300M
They make say 20M in revs with 15% profit margin
3M net income/800M = .00375 x 50PE = .18
3M net income/300M = .01 x 25PE = .25
If we hit even .10 that is a 32x from these levels. Meaning a measly 1k will net you 32k. I hold 3M shares so I will gladly take $300k. If it hit .20 hot damn.
Yah cause your calls are always so good. That nano tech call was great, crashed right after you said buy, now i guess you front loaded domk and are pumping the shit out of.
You have little cred as you are merely a pumping bashing flipper with little regard to anyone but themselves
And what is that based on? Your are starting to show signs of being a flipper. Pump pump pump sell sell sell bash bash bash buy buy buy
Why would he step down? He has done everything he has said he would and more. His has grown a company that is in operation less than a year to 1m in revs in Q1.
This is america land of second chances and forgiveness
Follow the adage, buy when others are selling and sell when others are buying.
This will usually make for profitable trades. People are selling now so if you were smart you would be buying for the next pop. Earnings next Friday
summer time lull resulting in lower volume allows Shorts and MM's to control the game and get the price to where they want. based on all the games being played it seems like the MM handbook the past couple weeks on how they get shares and manipulate price
There is a post that has been going around for a while explaining MM tricks and if you have been watching L2 recently they are using almost all of them.
Patience is all that it takes, people say going long on penny stocks doesn't work out, that's because traders think long is 1 day- 1 week increments. If you are willing to stay the course you will be rewarded as this will go back to over .20 by Q3 earnings.
once again, Hanover was willing to accept the terms of the load and are not swayed by stock market games on the otc, they must have been shown something that got them to agree to a price of .15. They have over $1M on the line, my guess is they arn't sweating so why should I
Gotta love huge block buys all between 1-3M a pop followed by 1 share to 1000 share sells into the bid.
Pretty comical and quite easy to see what is going on here
A retail AON order would have taken out the bids at .05 just because its AON and you set your limit at .0497 doesn't mean you don't take out the higher bids
Of cannot be an idiot either. I was watching l2 there was about 50k on the bid by 2mm and the 600k was sold at .0497 and the 50k at .05 was untouched
Has to be MM to MM trade
Can't be a stop loss as it was sold below the bid without effecting the bid's at the top
not retail shorting, MM covering that was short shares. MM can get short shares by accepting transactions for shares that they don't hold inventory of. When they take the transaction they must later buy shares to finish the transaction.
This is much the basis for MM manipulation as they want the price lower that what the sold them for as they do not like to loose.
With the t trade and end of the month I am now leaning towards MM short covering
Maybe someone needed a bunch of shares to cover the end of month
Now i am wondering if it is short covering with a T Trade at .0497 for 700k shares which is the same price as the sale below the bid of 600k.
Dilution is my guess, VFIN dumped well below the ask.
Only other option is a direct placement of shares between parties which does happen when someone needs shares to cover they will execute directly to another party in need
I take that back, maybe they are diluting, VFIN on the ask and a 600k sale below the bid
I doubt that they are diluting, one they could have sold shares from 40 all the way to 10 and made much more with much less. two they took on a convertible note instead of diluting, after that note i do not think they would need more capital as cash should be coming in from backorders
The only reason they would dilute is if something big is on the horizon (another acquisition) and they need capital to complete
There are retail sales going on as people get impatient but NITE flipping to the bid with 1.5M at .0029 and only 20k on the ask is positive.
It really backs up the notion of them wanting cheaper shares.