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The transfer agent does the updates. They don't work for Third Bench.
Well, at least they would currently suck. But they do that already.
Lets hope something useful happens. We're tanking fast.
Sadly, we both bought our tickets already.
Dump-aroo. Total garbage.
It is strange. I have not found a difference yet in skimming through it.
Those aren't purchases. That is the company paying debt holders using common stock instead of cash.
Annual Report out now-
https://www.otcmarkets.com/otcapi/company/financial-report/392211/content
They need final SEC approval first. It may be another month or so if there are no problems.
LOL.. Cabbage flavored. Not sure if that makes it worse. The fact that is being tasted at all is bad enough.
Yep, but the SEC calculates based on AS when a company first goes public, along with recommendation from the IPO underwriters, but because Orie is using us as underwriters, we wont have a say in what the SEC determines to be a fair market price, since he holds more than 50% of the common stock.
Since the shares we own had a value, the SEC will take that into account, but they aren't worth much.
Yep. Even if the valuation audit came to $15,000,000, the share price at open would only be $0.03 (based on 500M AS).
So, Orie screws us again. But, at least It wont be zero like it is now. For me to break even it would need to hit $0.036
Please ask him for us-
Has a third party auditor done a valuation of Palisades Venture Inc., and if so, what was the valuation they came up with?
Another look at the S-1 shows Palisades has an AS of 500M shares. I don't see a full valuation of the company (which is what the SEC would base its share price calculation on), but I see a revenue declaration of $101,954 for the Nine months ended September 30, 2023 (gross profit $70,174 for that period).
If we had a recent valuation we could figure out the share price at open on the first day.
Interesting tidbits from the S-1 --
(This is all speculation on my part) It appears the S-1 was written so as to maintain OTC:Pink status, but it is written in a way I have not seen before.
Numerous times the S-1 mentions NASDAQ. I think it is odd that it was written this way, as there is no reason to do so. I am wondering if Orie wants to try to get on NASDAQ, which would require a minimum share price of $4.00 and an independent board of directors. For example-
"We expect to be a “controlled company” within the meaning of NASDAQ rules and, as a result, will qualify for exemptions from certain corporate governance requirements. As a result, you do not have the same protections afforded to stockholders of companies that are not exempt from such corporate governance requirements."
"Upon completion of this Offering, our Management will continue to collectively hold more than 75% of the voting power for the election of directors of our company. As a result, we expect to be a controlled company within the meaning of NASDAQ corporate governance standards. Under NASDAQ rules, a company of which more than 50% of the voting power is held by an individual, company or group of persons acting together is a controlled company and will not to comply with certain NASDAQ corporate governance requirements, including the requirements that:
· a majority of the Board consist of independent directors under NASDAQ rules; "
" These requirements will not apply to us as long as we remain quoted on the Pink OTC Markets and as a controlled company. Accordingly, you may not have the same protections afforded to stockholders of companies that are subject to all of the corporate governance requirements of NASDAQ"
"The Securities and Exchange Commission also has rules that regulate broker/dealer practices in connection with transactions in “penny stocks”. Penny stocks generally are equity securities with a price of less than $5.00 (other than securities registered on certain national securities exchanges or quoted on the NASDAQ system, provided that current price and volume information with respect to transactions in that security is provided by the exchange or system)."
I could only speculate on that, and although the S-1 claims a value of $0.001 per share (par value), I would expect $0.01 or so if it goes live considering the small OS. Of course it depends on what company news they put out when it goes live, and what AS value they declare. If they say- here is what we are going to do, and here is the money we are making (or going to make), then maybe we can see a quick rise in share price.
But they would need to get the word out fast that they are trade-able. If they don't put out news, and Orie quickly starts diluting, then the price will drop fast.
We (the existing shareholders) will hold about 25% of all outstanding shares. Orie owns 75%
A 1 for 120 distribution may not sound "beneficial" at first, but this is the one time a RS would be, since the restructuring is happening before the shares are even publicly traded. And (assuming the SEC approves and we go live again) we could not trade our shares at all, so at least we have a chance of making money or at least getting our money back.
We would have a 109,500,000 share OS, which is pretty low for an OTC stock.
It's in the S-1.
It looks like we get 1 share of Palisades stock for every 120 shares we hold now. The OS of Palisades is 109,500,000 shares at the moment.
From the S-1 -- "The distribution will be made to holders of record of CorpTech Holdings, Inc., as of the close of business on February 7, 2024, on the basis of one share of Palisades Venture, Inc. common stock for 120 of CorpTech Holdings, Inc., common stock held"
How long until they do another RS? Endless screw-cycle for the shareholders.
Looks that way. Criminals.
Endless dilution. Bid down to $0.0012 now. Geez.
Yes. I only hold 7,666,666 shares of it, but at least there is a chance of getting the money back, or even making money!
Getting exciting now! This could really come back to life!
Excellent news. Here's hoping shareholders get a "beneficial distribution ratio" as he said.
That is strange. I am not sure about that. Maybe leftover from ByoPlanet?
Did you mean - "OS would be 9 billion as of 1/31/25"? Or is this what it would be pre-split?
Breakeven is good - need some news though to counter-act the dilution and maintain the share price.
They will never push through the debt of the holders, and Canouse knows this.
Yes, bid $0.0003 / ask $0.0004 if I recall. Been a long time though.
All good news I'm sure...LOL.
And OTCN is sitting on the ask at $0.0015 right now, and they have a bid at $0.0014! They want to dilute even more, but don't even have the bid support to do that!. They might move their bid down to move the rest (they wont dump into their own bid).
No joke. These shares are worthless. And still no news or filing!
Yes. Way less derivative liability than he used to have. Looking good.
Dilution machine keeps moving. No end in sight.
You're right. I would just put the money somewhere else and have a better chance with it. Sad what this turned into.
If it gets that low I might try to average down. I could get a shitload of shares cheap. And then pray for news and change of management.
STILL late on filing. Garbage stock.
We'll be in the trips again soon.
Super dump day. New low coming. OTCN moved down to $0.0014 now on the bid.
More disappointment this week, or some news? Odds are... Not good.