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Hey Adrian: your filing with the Colorado Secretary of State from last Saturday is in error.
In the first paragraph of Section 1 of Article II of Attachment 1 to the Articles of Incorporation, you erroneously added the one billion shares of Series H preferred stock to the unnamed series of preferred stock instead of creating a new class of preferred stock as was done in Article II of Attachment 1:
Here is where you can watch for the coming reverse split for DNAX:
FINRA Daily List: Dividends / Distributions / Splits
http://otce.finra.org/DLDividendsDistributionsSplit
(this is the graphical interface for searching for splits)
FINRA Daily List - Text Archives
http://otce.finra.org/DailyList/Archives
(this is the daily archive of each day's splits in textual format easily imported into any text editor or spreadsheet program)
I received a private message where someone asked me the following question:
Want to see how much Adrian has invested in TokenTalk.io???
1:500 or 1:1,000 reverse split ratios most likely
See analysis here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136145030
DNAX CEO says "Yes" to reverse split
Adrian has already telegraphed in his press release that he intends to execute a reverse split, and that he intends to use an uplist maneuver as camouflage to leverage against any FINRA objections:
WARNING: reverse split coming soon
When Adrian took over DNA Brands, Inc. in February of 2016, the O/S was already maxed into an A/S of 6 billion shares. By any rational analysis, the stock structure was already horribly bloated at that point.
Adrian has not executed a reverse split until now because Mel Leiner and the other founders of DNA Brands, Inc. still have all of their value in the company contained in common stock. If Adrian executed a reverse split, he would wipe out the positions of Mel et al. That is not something that they are going to do.
Last Saturday, Adrian created the Series H preferred stock. The value of the company held by Mel and the other founders of the corporation will be transferred into this block of preferred stock through a simple exchange of common stock for preferred stock.
Then, once the value held by Mel et al is safely moved out of the way and out of the common stock, Adrian will be free to execute a reverse split without adversely impacting anyone who Adrian cares about.
At the end of the press release about Howard Ullman, Adrian specifically said that there would be no reverse split unless the stock were "uplisted." So, that is what he will do. He will reverse split the stock so that the post split price is above one penny so it will qualify to be an OTCQB stock again.
The O/S will be reduced from 25 billion (which it will likely be when the reverse split is executed, probably later this month) into the tens of millions.
Then, the dilution machine will continue.
Adrian really does not care if DNAX is an OTCQB ticker or an OTC Pink ticker, but he will heavily hype the "uplist" to sell more dilutive shares.
All that will really matter is that the value of whatever stock you are now holding at $0.0001 will rapidly decrease in value to $0.000001.
Use the current hype to get out now while there is still a strong amount of volume.
Don't say I did not try to warn you...
FYI: Bitcoin ATM locations operated by Bitcoin Depot
https://coinatmradar.com/operator/220/bitcoin-depot-bitcoin-atm-operator/
FYI: Here is a linked list of Bitcoin ATM operators.
https://coinatmradar.com/operators/
In 2015, FINRA started clamping down on the ability of corporations to execute reverse splits. However, reverse splits still happen. There have been 16 reverse splits already this month in 8 trading days.
Reference: https://www.securitieslawyer101.com/2014/finra-uses-rule-6490-stop-wash-rinse-repeat-issuers/
Reference: https://www.linkedin.com/pulse/sec-supports-finras-rule-6490-authority-over-actions-anthony-esq-/
MDFI had a 1:200 reverse split. SSGI had a 1:100 reverse split. PTOAF had a 1:12 reverse split. BCDA had a 1:12 reverse split. ARGYF had a 1:10 reverse split. DCTH had a 1:350 reverse split. NCRA had an effective reverse split of 1:200. FTNW had a 1:25 reverse split. HAGE had a 1:50 reverse split. STTH had a 1:15 reverse split. LACDF had a 1:5 reverse split. SNBP had a 1:10 reverse split. BDGN had a 1:300 reverse split. SHDNF had a 1:10 reverse split. GLLK had a 1:5000 reverse split. SOUM had a 1:500 reverse split.
Reference : http://otce.finra.org/DailyList/Archives
That is an average reverse split of 1:412 which demonstrates that FINRA still has a tolerance of reverse splits of significant ratio. FINRA even approved a 1:5000 reverse split.
This clearly establishes that a reverse split for DNAX cannot be discounted based on an automatic FINRA rejection.
Based on the split ratios that FINRA has recently allowed, if we then look at feasible reverse split ratios, and what they would do to the O/S and the PPS, the following is seen:
The current O/S is 19,942,827,289 and the current PPS is $0.0001.
If DNA executed a reverse split of the average of the 16 reverse splits (1:412) that have occurred so far this month, the new O/S would be 48,404,920 shares and the new PPS would be $0.0412 or a bit over 4 cents.
This is interesting although it is actually unlikely that Adrian would choose such an unusual ratio. A more round number is more likely.
If DNA executed a reverse split equal to the maximum ratio seen so far this month (1:5000), the new O/S would be 3,988,565 shares and the new PPS would be $0.5000 or 50 cents.
I suspect that Adrian would not select such a large ratio because it would attract alot of negative attention when he does not need such a large impact on the O/S or the PPS.
If DNA executed a reverse split of 1:50, the new O/S would be 398,856,545 shares and the new PPS would be $0.0050 or half a penny.
If DNA executed a reverse split of 1:100, the new O/S would be 199,428,272 shares and the new PPS would be $0.0100 or a penny.
The problem with these reverse split ratios is that they put the PPS just at or below the minimum PPS ($0.01) required to qualify for shifting the ticker from OTC Pink to OTCQB. Adrian has already telegraphed in his press release that he intends to execute a reverse split, and that he intends to use an uplist maneuver as camouflage to leverage against any FINRA objections:
I didn't assert a targeted location. Someone else did, like yesterday or the day before. I was responding to their post without linking to it.
CREATION OF THE ESCAPE BLOCK! Reverse split or Dissolution of the company coming!
This morning, Adrian filed an amendment to the Articles of Incorporation which creates... well, sorta creates... the filing is in error... a Series H Preferred stock.
This is obviously an escape block of stock.
http://www.sos.state.co.us/biz/ViewImage.do?fileId=20171846236&masterFileId=20071247858