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I'll say again - Company HQ is an apartment in a residential building.
344 S. Hauser Boulevard, Suite 414
Los Angeles, California 90036
Take a look for yourself on google maps.
Has anyone actually visited the company at that address?
Big article in Barron's yesterday. Not a pretty picture.
Then how can operations be funded?
Thanks. That cash isn't going to last long then.
Also, don't they need a larger office space?
It will be interesting to see at what price the company can get selling more shares.
Where do you see that the company has 19 or more employees? Thanks
Janice, don't you think that penny promoters were a material force in getting Reg SHO put into place?
one floor down from FUSZ' 'office'.
https://www.zillow.com/homedetails/344-Hauser-Blvd-APT-312-Los-Angeles-CA-90036/2092347564_zpid/
I am so frightened! Have a good night.
I don't think it's silly to believe in morality. Unpopular, perhaps.
Does that make it not a liability? If so, why is it shown right there under liabilities?
It is untrue to say the company has no debt. There are almost $3 million in current liabilities on the (pro forma) balance sheet. With less than that in assets, the company has negative working capital.
Why people are saying otherwise ..... hard to fathom.
Wrong. Again.
Yes, I see page 43 and, as you say, it shows convertible notes paid. But it also shows a Related Party Note outstanding of $1,964,985.
So it is incorrect to say the company has cash and no debt. It has debt. $2,921,799 in current liabilities.
Just noticed this stock sale - 20 million shares at $0.16 - and just in Q1 2018. Maybe that (partially) answers my liabilities question - although the pro forma in the 10K still shows almost $3 million.
From January 2018 through March 2018, the Company issued 20,469,028 shares of common stock in exchange for cash of $3,300,500 or an average selling price of $0.16 per share. As part of the sale, one investor and current note holder agreed to cancel a note payable amounting to $100,000 that was issued in November 2017. As a result, the Company will record a gain on extinguishment of $158,396 to account the extinguishment of derivative liability of $136,226 and unamortized debt discount of $77,830.
Why do you say nFUSZ has no liabilities? The 10K shows almost $6 million of current liabilities and only $90,000 of total assets.
nFÜSZ, INC.
CONSOLIDATED BALANCE SHEETS
Years Ended December 31, 2017 2016
ASSETS
Current assets:
Cash $ 10,560 $ 16,762
Accounts receivable - 8,468
Prepaid expenses 40,909 10,871
Total current assets 51,469 36,101
Property and equipment, net 30,554 52,066
Other assets 8,780 16,036
Total assets $ 90,803 $ 104,203
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Accounts payable and accrued expenses $ 663,506 $ 431,650
Accrued interest (including $99,425 and $56,628 payable to related parties) 248,120 118,137
Accrued officers' salary 607,333 200,028
Notes payable, net of discount of $0 and $48,942, respectively 125,000 177,358
Notes payable - related party 1,964,985 1,964,985
Convertible note payable, net of discount of $675,453 and $0, respectively 1,020,315 680,268
Derivative liability 1,250,581 -
Total current liabilities 5,879,840 3,572,426
What has become of the Oceanside Strategies, Inc $680,000 note? 10K says it matured on April 4.
On April 3, 2016, the Company issued a convertible note payable to Oceanside, a third party-lender, in the amount of $680,268 ..... The Company granted Oceanside the right to convert up to 30% of the amount of such note plus accrued interest into shares of the Company’s common stock at $0.07 per share and issued 2,429,530 warrants to purchase an equivalent number of shares of common stock at $0.07 per share until April 4, 2019.....
On December 30, 2016, the Company entered into an extension agreement with Oceanside to extend the maturity date of the Note from December 30, 2016 to August 4, 2017. ..... the Company issued Oceanside 2,429,530 common share purchase warrants, exercisable at $0.08 per share until December 29, 2019 with a fair value of $159,491....
On August 4, 2017, the Company entered into an extension agreement with Oceanside to extend the maturity date of the Note to from August 4, 2017 to April 4, 2018. ..... the Company issued Oceanside 1,316,800 share purchase warrants, exercisable at $0.15 per share until August 3, 2022 with a fair value of $170,855.
Man, they paid for a Saturday campaign. I'm impressed.
But Rory, Rory, Rory? Please.
The character and history of the principal owner of the company is most certainly an issue. Possibly the most important issue for any company.
Putting your statement in bold type does not make it correct.
That SC13D showing Reko Holdings LLC as owner of 70 million shares is from 2015.
The form is signed by Regina Kats (aka Katz or Kates) who, per the ripoff report, is the daughter of Galina Vaynter who has a long history of stock scams.
This statement is being filed by and on behalf of Reko Holdings, LLC (“Reporting Person”). The address of the principal office of the Reporting Person is c/o Gopher Protocol Inc., 23129 Cajalco Road, Perris, CA 92570.
Above address info says that Reko's address is c/o Gopher Protocol.
"https://www.ripoffreport.com/reports/galina-vaynter/internet/galina-vaynter-avadi-vaynter-korina-vaynter-regina-vaynter-michael-gauss-reco-holdin-1404252
After a series of reverse splits Galina Vaynter and her daughters Korina Vaynter and Regina Katz (aka Katz) own all the free trading stock in Galina’s new and current scam former FXIT now known as Gopher Protocol, Inc. (GOPH).
Galina Vaynter, an experienced and cunning scam artist and a pump and dump penny stock promoter launched her career in or about 2003 under guidance from convicted felon Greg Mulholland and Joseph (Joe) A. Padilla as one of the numerous stand-ins in their early frauds. The first big deal, where Galina Vaynter was in charge of a large pump and dump herself was USXP, the infamous Universal Express, Inc. scam. Galina Vaynter worked with convicted felon Richard Altomare, the CEO of that company and Galina’s BCOM Marketing, Inc. and Fortune Market, Inc. were used to flood the market with tens of millions of shares illegally issued and sold on false pretenses"
October 2017. Still completely relevant. The promoter is a criminal, in my informed and experienced opinion.
GOPH getting pumped.
https://www.ripoffreport.com/reports/galina-vaynter/internet/galina-vaynter-avadi-vaynter-korina-vaynter-regina-vaynter-michael-gauss-reco-holdin-1404252
After a series of reverse splits Galina Vaynter and her daughters Korina Vaynter and Regina Katz (aka Katz) own all the free trading stock in Galina’s new and current scam former FXIT now known as Gopher Protocol, Inc. (GOPH).
Galina Vaynter, an experienced and cunning scam artist and a pump and dump penny stock promoter launched her career in or about 2003 under guidance from convicted felon Greg Mulholland and Joseph (Joe) A. Padilla as one of the numerous stand-ins in their early frauds. The first big deal, where Galina Vaynter was in charge of a large pump and dump herself was USXP, the infamous Universal Express, Inc. scam. Galina Vaynter worked with convicted felon Richard Altomare, the CEO of that company and Galina’s BCOM Marketing, Inc. and Fortune Market, Inc. were used to flood the market with tens of millions of shares illegally issued and sold on false pretenses of sponsoring a BMW car racing team of Gene Sigal, a famous race car driver
https://www.ripoffreport.com/reports/galina-vaynter/internet/galina-vaynter-avadi-vaynter-korina-vaynter-regina-vaynter-michael-gauss-reco-holdin-1404252
After a series of reverse splits Galina Vaynter and her daughters Korina Vaynter and Regina Katz (aka Katz) own all the free trading stock in Galina’s new and current scam former FXIT now known as Gopher Protocol, Inc. (GOPH).
Galina Vaynter, an experienced and cunning scam artist and a pump and dump penny stock promoter launched her career in or about 2003 under guidance from convicted felon Greg Mulholland and Joseph (Joe) A. Padilla as one of the numerous stand-ins in their early frauds. The first big deal, where Galina Vaynter was in charge of a large pump and dump herself was USXP, the infamous Universal Express, Inc. scam. Galina Vaynter worked with convicted felon Richard Altomare, the CEO of that company and Galina’s BCOM Marketing, Inc. and Fortune Market, Inc. were used to flood the market with tens of millions of shares illegally issued and sold on false pretenses
Assuming you are correct, thermoo, why did the stock price rise only in the last few days? It's been over a month since the reverse merger.
In addition, there's a market for bio IPO's. Why did INNT choose this path to go public?
Agree on the 26mm, perhaps plus warrants, but it's almost all closely held. What's trading is the MSDI 10 million shares, which reverse split to 1 million on January 29.
I think that's right.
STGG is required to make a $1.4mm principal payment on their $81mm term loan at the end of each quarter. That increases to $2.0mm per quarter in 2019. It's all due in 2020.
That's going to be difficult for them.
I wonder if there will be another filing. The latest financial report is the 10Q of June 30, 2017.
Even if they do have a new contract, what are the chances it will be profitable?
Never is.
There's way too much dilution for DPW to run much. Share count has gone from 7 million to 40 million in 13 months. The market cap has indeed run up a LOT, but if you divide by the share count, the price can't rise much.
It's a losing game because the insiders keep issuing themselves shares and selling them as fast as they can.
At November 11, 2016, the registrant had outstanding 6,775,971 shares of common stock. ... market cap was around $ 5million.
At November 17, 2017 the registrant had outstanding 15,817,393 shares of common stock. ... market cap was around $7 million
And in today's filing:
The number of common shares (20,684,761) to be outstanding immediately after this offering excludes (i) 3,966,000,000 shares of common stock issuable upon exercise of outstanding options; (ii) 9,669,663 shares of common stock issuable upon exercise of outstanding warrants; and (iii) 4,045,607 shares of common stock issuable upon conversion of convertible notes.
Market cap around $144 million today. Market cap has risen 20x in a month!
When Mr. Ault left Patient Safety Technologies its revenues were under $1.0 million per year.
Mr. Ault seems to have hidden a certain fact in his bio. He was long gone from Patient Safety Technologies by the time Stryker bought it.
Mr. Ault's bio from the DPW 10K:
Mr. Ault became majority shareholder of Franklin Capital Corp and was elected to its board of directors in July 2004 and became its Chairman and Chief Executive Officer in October 2004 serving until January 2006, and again from July 2006 to January 2007. In April 2005, the company changed its name to Patient Safety Technologies, Inc. and purchased SurgiCount Medical, Inc. Stryker Corporation (NYSE:SYK) acquired PST at the beginning of 2014 in a deal valued at approximately one hundred twenty million dollars ($120,000,000).
From the PST 10K April 14, 2011
April 14, 2011 10K On December 30, 2010, the Company entered into a Settlement Agreement with Ault Glazer Capital Partners, Zealous Asset Management, Milton “Todd” Ault III and a creditor to AGCP, who also is a shareholder of the Company (the “AGCP Creditor”). The former relationship of Mr. Ault and AGCP to the Company has been previously disclosed in the Company’s public filings.
Crazy high-flying DPW stock has some issues, including Milton Ault.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136714583
Milton C. Ault, III 47 Executive Chairman of the Board
Milton Ault, III 2,794,327 31.3%
Mr. Ault was CEO, President and Chairman of Zealous Holdings, Inc. that filed for bankruptcy protection.
Mr. Ault filed for bankruptcy protection under Chapter 11. This Chapter 13 filing was subsequently converted to a Chapter 7.
Lots of bad stuff comes up easily in a simple google search:
https://ftalphaville.ft.com/2009/08/12/66696/hedge-funds-porn-and-sarah-palin/
"Milton (Todd) Ault 3rd is charged with stiffing a dozen hedge funds on a $4.2 million investment with his firm Zealous Inc.
The suit says the money was supposed to be steered to an “integrated global community of trading partners.”
“The financing was a scam,” the suit says. “He intended to, and did, use plaintiffs’ money to fund [his] lifestyle, which included the development of a ‘swingers ranch’ in the Catskills and other pornographic-related endeavors."
http://www.ripoffreport.com/reports/aresh-shirdel-loses-appeal-for-milton-t-ault/las-vegas-nevada-select-stateprovince/aresh-shirdel-loses-appeal-for-milton-t-ault-milton-todd-aullt-discovered-as-owner-to-co-1178973
"Milton T Ault III and his partner Arash Shirdel are back at their old stock tricks again. Ault was barred from participating in a public company because of his New York and California deals where he swamped investors out of 5 or 6 Million in cash and FINRA and his business partner former real estate "self proclaimed garu" turned attorney went to his defense and lost Aults appeals."
Total Common stock shares outstanding: 25,286,154 POST SPLIT as of: September 30, 2017
Total Preferred stock shares issued: 25,000,000 as of: September 30, 2017
Closer to $200 million, if you account for the convertible preferred.
In the two hours the market has been open today, there have been 628 posts. One every 12 seconds.
DOLV got 600 posts in 200 minutes, or so, today. Almost all were one-line, one sentence. Maybe it's a robot, who knows? But for sure it's not investors, or even gamblers. Just pumpers.
Get out! There may be a few days when, if you follow my advice, you'll hate me, but there will be years that you'll be relieved.
What you should do is buy ENRJP - the preferred. Each share converts to 12.6 ENRJ. Much cheaper way to buy ENRJ.
And you'll notice that the ENRJP price implies 11 cents per ENRJ.
65 cents on ENRG implies a $120mm market value post merger. They show in the 8k that there will be 183mm shares outstanding.
They've already said $20mm is the ballpark value. The $20mm yields 11 cents per share.