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Equity Financing, Buyback, F/S, R/S, Options
There's a few choices here. Can't help thinking this has something to do with TDO Software somehow.
They are allowed to trade down here
If they see fit too. You remember that right?
https://vm.tiktok.com/ZMMuSFhJo/
See that little flame icon beside SONX's name?
I never knew till someone mentioned on another board. On SONX's IHUB Homepage that little flame icon signifies we are trending on other IHUB boards. 👍
Here he is. I'm on to him, thanks👍
WELCOME TO PATRICK C. SHUTT – OUR NEWEST NON-EXECUTIVE ADVISOR
— Cambridge Management Consulting (@CambridgeManag1) February 6, 2024
Patrick C. Shutt is an entrepreneur and well-respected technology and connectivity executive who has been highly successful throughout his 30-year career as a founder, CEO, and COO. pic.twitter.com/sHNiof2fjq
Feel same way, need to DD Patrick yet...
https://onemindng.com/
Seeing as these will be in many cases decades newer networks than ones we normally use now. It will be interesting to understand what the approach is to Block Chain, Bitcoin Financial institutions and the whole Crypto Currrency community.
You might see institutions, industry, intellectual properties, leaning heavily towards newer networks like Contrivian perceived as more seamless and secure are my thoughts here. If the migration is a landslide move. Woah shiploads of revenue could easily ensue here and mighty quickly.
Perhaps a question for Tiger to Bjarne then...
What are "SONX's", NYSE requitements. It seems to be whatever page you happen on, there's a different "official" explanation of NYSE's relisting requirements.
I'd opine it`s likely, all depends on what NYSE thinks of your company's credentials. That said the page I got them from appeared very much in the know what the rule was. Sheesh! 🤷🤔
As far as I can find... You're wrong.
NYSE requires a $4 relisting Share Price. SONX would also need to maintain a $1.00 share price for at least 6 months after the relisting. Be clear a Relisting can never be an IPO two different animals.
All quite confusing but bare with me it resolves itself. The CEO has two choices. Bjarne can either buy back shares propping up SONX share price, or... (are you sitting down?) He can perform an R/S... OMG!!!??? It's game over we're going to DIE. We'll not exactly, actually far from it. $4 is the threshold entry S/P . After relisting SONX only needs to maintain $1 in NYSE share price.
Well how in heck are we going to do that? That's where many get very restrictively CONFUSED*. WE my friend do Nothing Nada, Zilch! (ok bight our nails for breakfast) The NYSE* investors don't forget are now once again encouraged to buy because SONX has requalified. They do all the heavy lifting 🤔
That's the threshold many struggle to understand because the next part is hypothetical. SONX is far from out of the woods. It needs to convince NYSE investors that the company will be profitable with its revised business plan and market cap.... For at least a few years.
That's where Bjarne absolutely must convince investors he has the business plan, connections, preparations, AND PRODUCT to set the S/P flying. Successful execution of relisting all hinges on Valsoft being ready to handle all the orders, all the B2B partners, all the sales etc etc.
That's why Bjarne cannot talk about ValSoft yet. It's simply not properly coded yet for all the transactions, diagnosis, etc. that SONX will rely upon TDO Software to perform flawlessly*, professionally*, internationally*. Yes TDO Software still exists 🫣🤫
Yes he's only focused on North America for now but eventually he will wind up in Europe. Norway will be first on the list naturally but not limited too. So everything about Sonendo must be firing on all cylinders before he can convince a picky bunch of NYSE investors SONX will be ardently and lucratively profitable for at least* a few years to come.
Please note well, I have no idea what financial mechanisms Bjarne will employ to relist SONX to it's former glory on the NYSE. It might/might not be, a BUYBACK, an R/S, a JV, a MERGER of some sort.
Also note well he disclosed he's in the process of uplisting. He definitely has not said when, how, or even where. Although we can assume it's probably the NYSE as first choice in my honest opinion. In fact he might of disclosed NYSE already need to fact check that. Feel better? Phew, good! Thanks I need cup of something, you're getting me all excited... ☕👋
Can I back you up just a second there?
SONX would need more shares for liquidity in a structured uplisting would they not? You have to understand Bjarne's thought process as a CEO. So put yourself in his CEO shoes for a little while and ponder this scenario. You are joining the biggest stock market in the world shoulder to shoulder with some of the largest companies.
You want to make a good* impression with all these blue chip companies. A most favourable impression! So would you want to risk being made to look like a pump and dump operation by not having enough shares to make a relatively stable but steady climb up into the NYSE. I think you would don't you or would you want to meteorically rocket ride up with an inevitable and precipitous plunge back to Planet Earth?
You're trying to make the impression with all the bigwigs you're an established company here for the long haul (which SONX is BTW) Sure there's going to be gapping up in the morning (s) and yes massive volume spikes absolutely. But you won't want to risk an explosive rise followed by your bubble burst with not enough shares to facilitate growing volume. My two coppers I'm not a CEO just another member of the Minion family. 🤔
Norway is about to become one of the
richest countries in the world. I've traced Bjarne's financial dealings (outside of SONX) back there. Norway hasn't got to this lofty height by accident.
Is an offering possible... Absolutely
Is an offering plausible... They are launching new Gentle Wave applications to build the company. So. Yes uhuh possibly unknown applications.
Is an Offering ... PROBABLE ❓🤔 SONX just raised $14 million, potentially $15 million partnering with Valsoft Software... the 👉🥕
Well we don't know why SONX's partnering with Valsoft happened. We don't know why those fund managers are waiting in the weeds so to speak. Is it just possible these two unknowns are related? I opine your answer Scotty, is probably YES. ✋ Still unconfirmed however but thanks for making me think ✔️
I'm up in the Great White North, Lotus Land
to be precise.
I really feel sidetracked not knowing what went down Feb 14th. Naturally everyone got super excited. Then nothing, talk about a let down. We might never be told why the mass of filings went down, out east. Is that why you're hunching some offering?
You should invite him out for brewskis
You're down there in the drought, flood, Thunder Armageddon, heat wave state aren't you?
You mean like a buyout offering entirely possible
I really don't think it's a shortage of cash situation. Home office don't forget, so not likely if it's even necessary.
Prioritize numerically he's a busy guy for sure.
I doubt very much he'll snub you, but same time be patient you're asking questions he may not have answers too yet. You can put something to him and leave it open for him to get back to you.
EG. "Bjarne is this uplisting delay anything to do with the FDA's blessing? “ That gives him a chance to say something pertinent without disclosing anything too sensitive ATM. Employing tact makes him more comfortable with your questions. If he thinks he's in the middle of a shakedown, well you can't expect he'll give you any nuggets to sample. Does that all make sense?
Holy doodlebugs, ok I'll keep an open mind! ✔️
True enough, tough knowing what they use.
Banks and hospitals are right up there. The leap might not be that out of reach. Wait and see strategy about the best we can do. You be right sir.
I wonder what there highest profile customer will be. I noticed banks and hospitals but if they landed a military contract that would be very high encryption indeed 🫰.
It's going to be hot despite what you got
Sales will proliferate with the heat. They have some interesting choices. If they weren't promoting investors will whine, if they over promote investors are sobbing still. It all has to do with the heat, whiners can snivel all they want. It won't change the weather. GLTY too 👍
He's on the road for a reason
My hunch is he is having meetings for those two prospective clients.
You're welcome, hope you get through to him.
Inside voice LOL! Great guy if you haven't spoken already. I think you'll be very favourably impressed 👍
Why no PR about the 4-Funds filing Feb 14th.
1) The mass filing created a pump and dump scenario. Precipitating a 50% drop in share price which SONX hasn't recovered from. It was a profound material event. That hasn't been explained to investors by management nearly a month later.
2) Why is management slowly, but steadily diluting the float without explanation?
3) How is uplisting going, is it being delayed in any way by the absence of a full time CFO hiring?
4) Bjarne can you please explain how the Sonendo~Valsoft Software partnership might effect the Company’s future economic growth please.
It seems you're insinuating a question...
with a question. Without answering my original question.
What's the biggest problem for Kona
That was an incredibly positive PR full of good news. There's clear upside but I'm not drawing a bead on the Doom & Gloom downside you guys are so upset about. Can we leave out the bitterness and stick to the facts please...thanks 👍
Don't Vent, keep it cordial.
Make sense yes absolutely, but be very aware the delay or impasse, is most likely to be completely out of their control. 🤔
Peter is on the road, spoke with Denny
Very cordial guy the head of accounting. Peter will be giving me a call when he gets time. Know what that's like! Any-who the webinar was supposed to of been redone 2 weeks later. So we could understand what Peter was saying! That has somehow fallen by the wayside and Denny is going to remind Peter that, that needs to be redone.
A very worthwhile call, in other news. There is a 10-Q coming out and I've asked for a PR from Peter about what the company is doing and where they're going after the 10-Q release. (I was getting my 10-K and 10-Q mixed up) Of course Denny couldn't tell me the exact date of the 10-Q that's not cool. But we can assume that's it's fairly soon and not far off.
Very glad I called, looking forward to chewing the fat with Peter Hager. I really don't think these guys understand how fast a pink can run when the company keeps the shareholders availed of what's going on. 🤔
Nb with Peter Hager, directly & indirectly held common stock.
I think he got 6,400,000 shares directly to himself and the same again to his holding company. Assumption here... That's because if he gets bought out there are two pockets to pick from if you catch my drift...
Correction slightly over 54 million in float
The roughly 33 million I spoke of is all insider's common stock. From there each individual has different options. Some options are more common stock while some others are preferred stock. All standard procedure really except for one glaring omission.
Normal indeed expected after a 10Q, that the company posts a Press Release to shareholders after a year end earnings report. Telling shareholders what's going on and what's in the pipeline. It won't be to the letter never can be. Things change too often to be taken for gosple. But a heads up PR after a 10-Q is common courtesy. We are getting jipped in that regard.
I should imagine it's more complicated
They're still waiting for some progress on it. I'm being vague for a reason...
Question of the Day... (updated)
Is a REuplisting still considered an IPO...
There is a “quiet period” between the time that a company files a registration statement with the Securities and Exchange Commission for a new public securities offering and the time that the Commission declares the registration statement effective. During the quiet period, referred to as the “waiting period” also, the company and related parties are prohibited by federal securities laws from releasing information to the public that could be construed as promoting sale of the securities covered by the as yet unapproved registration statement.
There also are restrictions imposed pursuant to the Securities Act of 1933 and corresponding Commission rules on information issued publicly by a company prior to the company’s filing of a registration statement. Such restrictions go into effect at the point the company and an underwriter agree to conduct a public offering and remain in effect until 90 days after the prospectus in the registration statement becomes effective. During that time period, no offers regarding the proposed stock issue may be made by persons connected with the company, including directors, officers, employees, and company underwriters. The purpose of the restrictions is to avoid promotion of the proposed stock issue outside a registration statement and its prospectus. If there is publicity issued that arouses public interest in the company during this quiet period, the Commission may impose a “cooling off” period that holds off the proposed securities offering for an additional 30 days.
During the quiet period between a company’s filing of a registration statement and declaration by the Commission of the statement’s effectiveness, Commission regulations bar circulation of any information relating to the securities offering other than a preliminary prospectus. All other information issued by the company must be in the ordinary course of its business. As a result of the limitation regarding information on the proposed offering, it is anticipated that no written documents will be distributed even at so-called “road shows” describing the offering other than the preliminary prospectus. The Commission otherwise permits only the release of information regarding the size of the offering and the identity of underwriters of the offering.
Regarding the release of information in the ordinary course of business for a company that has filed a registration statement, the Commission has stated that the company should not initiate publicity pending Commission declaration of the effectiveness of the registration statement. It is expected that the company will continue to respond to normal inquiries concerning the company’s financial condition and business operations. However, companies with pending registration statements are expected to avoid forecasts, predictions, or opinions concerning sales, earnings, and the value of securities. Release of information directly or indirectly related to information provided in the pending registration statement could result in imposition of an additional 30-day cooling off period prior to effectiveness of the registration statement.
False alarm Sam, from 2 previous PRs back
It's easy to get passed the fact Bjarne hasn't got his full time CFO yet. I'm suggesting that could be temporarily gumming up the works uplisting wise. Might not! Fact is he's still somewhat restricted in HR so that can be a hold up, we just don't know yet.
CEO will need to update market when he finds his full time CFO of course, material event right? We know then for now Chris Guo is interim CFO and hey he might be tickled pink there! We simply haven't heard it, won't I hunch, until Bjarne finds another employee. 🤙
If they only post 1or2 contracts in Q1
That'd be one heck of a lot more positive than 2023. Now if they were to land a big fish. That would almost certainly induce insiders to buy more shares. We'd see a lasting boost in intrinsic value, not just puff & fluff. That run to half a buck was short lived. Profit taking the this relentless bid hacking took us further south than anticipated. Time will tell...
I hunch Hager has some tricks up his sleeve yet. 👍
So it's you hacking Sonendo computers
Well serves you RIGHT man, you YOU... malfeasant!
BTW now that you've had a laugh... what on earth are you trying to tell me, the sky is falling? Look Scottie tried that on me for months. So speak up spit it out, get it off your chest then. You don't understand the the CFO position or what? 🙄
All Bjarne's call, he still needs Controller then
"Chris Guo, Sonendo’s Vice President Finance and Corporate Controller, has been appointed as Interim Chief Financial Officer. Mr. Guo brings extensive experience leading corporate accounting and finance functions. Sonendo’s Board of Directors will conduct a search for a permanent Chief Financial Officer.It is anticipated that following his resignation, Mr. Watts may work with Sonendo from time to time on a consulting basis to ensure a smooth transition."
Still business as usual but Bjarne still needs to hire someone somewhere. It's not inconceivable the uplisting has had to be temporarily suspended too. Pure speculation, keep your wig on. But when they do uplist it will take a full 250 employees to manage properly.
Thanks for the heads up on the filing!
The biggest thing leaping off the pages and pages I just read was that the executive and the Consultants own 33 million of the 51 million shares available. Also Greg Shockey while not in the executive is a consultant and owns almost 9 million shares. Keep in mind too, that the Executive and Consultants have considerable options to buy more shares. This must be a huge relief to get this filing done.
So the next order of business is, has Peter Hager secured more customers. He has two and I believe he was mentioning in that webinar he was looking to secure three more within Q2.
Chances are next PR won't be earth shaking
Don't forget Guo is Watts interim replacement. Technically Sonendo does not have a full time CFO right now. So if anyone's wondering what any holdup might be. My hunch only but a company without a full time CFO during an uplisting is something of an impediment.
So what do you figure...
Is Lisa doing the R/S before releasing results? They can't be that flush to my way of thinking...
Oh Ok glad to hear it.
Sorry I don't do Zoomies at 0530. Don't see why anyone should either. Dumbest idea I've run across in a very long time. Why favour investors in the east and penalize investors in the west. Don't get it.
But do you know what's raising my eyebrows?
The investors are getting all this vital info from a third hand source NOT THE COMPANY. I mean come on, seriously is that really even professional? . 🤦
To me the info should be disclosed in a filing so shareholders didn't have to go hunting for it. 🙄 MHO guys, all rather cheesy if you ask me. Somehow Quality Control in the lab went waaay amiss.
I gotta say the grammar is quite ambiguous...
I can't be certain if the Statistical Analysis Error was by the Bio-statics Expert, or being officially corrected by the Bio-statics Expert... Or both?
Absolutely no estimation from the company how long this guy will take either. SNAFU SUPREMO is my takeaway. 🤷🤬
A Statistical Analysis Error by Bio-statics Expert
"The OnTarget trial results were delayed due to an error in the programming of the statistical analysis plan."
Safe to say the outlook is hurry up and wait. Just my opinion, but looks like Lisa has every legal right to continue with the R/S #5
https://ca.investing.com/news/stock-market-news/earnings-call-jaguar-health-focuses-on-cancer-support-amid-revenue-dip-93CH-3329961