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This is his nest egg- you actually think he cares about shareholder value?
These next 2-3 months will tell the story here. Will there be enough interest to get out at 2?
Press releases cost $ plus can get him in trouble. Best to be silent in this underworld and let a group try to move it for him. Wait for the next financial release that would be your best bet.
12/15- Just means that he is now able to collect on them. He has to come up with a way to pump this to fund that. I would imagine that the Truck company would be pissed if he took their 40k profit and gave it to himself.
A full year of nothing still?
No he needs another pump to clear the toxics and pay himself a bit then R/S after that is complete. Expect a new set of fins with some news to try and move this off 1s. Maybe Pistol Pete will pop up?
He doesn't necessarily need money at this point. The payless trucks thing is atleast self sufficient. If he can run his rent and somehow cash out that accrued salary then that should be a win for him. Also he has that huge NOL that will work towards never paying any taxes on anything Payless does. Question is what is payless getting from the deal? They need the capital so how is he going to make that happen?
150M cross sells with the MMs? Doesn't looked like it worked.
It happens. Still a good entry point.
About 1 month out for Arthur vesting here. If you believe in the pump that is needed might want to pick up a few milly and pray you can get to 2. We are gambling here right?
The arrangement is Payless needed access to the market. Arthur provided it with this shell. Reading between the lines- Payless needs to raise capital by selling shares to fund the acquisition of more trucks. Arthur is running out of shares to sell and is almost maxed. People are not buying because a R/S is liking looming or he is going to raise the authorized to an unreal amount.
Then factor in some toxic debt looming on the books and the 600k Arthur wants to pay himself. Plenty of reasons to stay away. Revenue is good but profit margin is slim.
Yeah 12/15 is when he can draw off of it. Doubt it happens until 2019 tho for his personal tax reasons.
Breakout soon.
Hard to say because they haven't been converted yet but judging from past deals here about 1.08 Billion. He is going to run outta runway here unless Payless can generate some serious cash.
I'm assuming English is your second language so I will forgive you for your incoherent babbling.
Ding ding ding only issue will be is it enough to launch off of 1's so retail can profit? Lots of shares still ready to be dumped into 1's at profit.
If you read through it Payless basically funded their way onto this scene. Arthur also loaned in some more money. Like I mentioned it sounds like they need to raise capital through the market via shares because they don't have enough to get the trucks. Sell shares, buy trucks, grow model. Just my opinion obviously.
Since its formation during 2018, an operating principal of the Company’s wholly-owned subsidiary Payless Truckers, Inc. has loaned $70,000 to fund the subsidiary’s operations. The loan currently bears no interest and is payable on demand. The Company has imputed interest on this obligation at a rate of 10% per annum, which the Company believes is appropriate and represents a market lending rate based upon other debt financings. As of August 31, 2018, imputed interest of $2,333 has been recorded in the Company’s financial statements.
Also Arthur's note matures 12/15. Get ready for the fireworks.
They did not make "a million dollars". Payless made 38k and he recognized a 228k gain off the derivatives.
Either way this is a step in the right direction but I believe the reason payless came into this partnership with Arthur was the ability to raise capital through the market. That runway is shortening so be careful here.
I found Arthur. -_-
I'm giving you logical answers to your questions/statements. You are talking in riddles and seem to be in fantasy land.
Ha jesus- this is a terrible take. The ask can rise at any moment. If you were trying to unload 500 Million shares would you put it all on the ask at once or in smaller increments? Would you buy a no bid stock knowing there is all that stacked on the ask?
Use your brain here.
Yes- the pump is this stock just getting to a bid. It gets a bid then slowly goes no bid. Rinse and repeat. Currently we are in the "no bid cycle". There is 4.2 BILLION shares out there. Good luck getting this thing to 2s so retail can cash.
Not true- He offers shares at .000025 in exchange for cash. The toxics then get groups to pump this up and they dump onto noobs for profit at 1. This has happened for years here.
I did read it. Payless made money. My assumption is they need to drum up capital in the form of selling shares. There is only 1.7B left to sell before he is maxed. Coinflip if this R/S's now.
Very shocking. This actually looks to be moving in the right direction. Only about 275k in notes left to churn thru. Major item looming is the 700k Arthur wants to pay himself on the books. Can this Payless sub actually generate enough that Arthur's retirement plan will pan out?
Time will tell.
EDIT: He only has 1.7B left to dilute which gives him about a year or so left of runway before he is maxed and needs to R/S. Good luck all.
Wow he filed. Toxics dumped on that real quick tho.
Some call it a publicly traded company others call it a share selling scam. Tomato/Tomata
Quiet period almost over. -_-
Those cost money. He will only provide a PR once he needs more money from the toxics. He will cut another deal with toxics for 20-30k then the PR comes out then toxics dump their shares. It stays at trip 1. Rinse and repeat until he runs out of "investors".
Usually puts a blurb in there about financial difficulty but that would sting too hard.
Pump is over. No reason to be current. Would have to disclose the material conditions that the trucking thing is a disaster.
Correct. He vests in December so look for it to push into the next year. Early Feb I would suspect. It is a roll of the dice if the MM's will let your 2s sell.
Management team is thin? Ummm ya think? It's just him. It's been a one man show for a while. Hopefully he thanked you for paying his rent.
When was the last pump here? How high did it get?
What's the situation here?
Nice. I'm excited for his retirement plan so he can finally put this ticker to rest.
I would say check back in December. I will give you a hint.....
Effective December 15, 2015, Mr. Viola entered into a $685,000 convertible promissory note agreement with the Company and forgave all remaining amounts outstanding at that time. The note matures on December 15, 2018 and bears interest at a rate of 10%
Depends on what side you are on. Arthur has been able to survive off the gullibleness of the shareholders. Imagine being able to live comfortably for 15 years and your company produces nothing?
Ya know the breakout. Arthur is going to breakout your shares. 500 for him and 1 for you. It's coming.
No worries just the quiet period before breakout.