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Since May 15 only 12.2M shares have traded so not much to be made of the pps.
On May 15 there were only 8,500 shares short. Thus, we know that Corndodger is just flapping his jaws.
Hey, did they ever throw that thief in jail.
Hey, did they ever throw that thief in jail.
I posted a few days ago that that Dan and Alysa were definitely not needed. They were compensated for the shell.
I keep laughing at those terms; friendly..unfriendly. Not sure what school ol Bob was taught that.
This is not a run of the mill penny play. 99% of penny stock fail due to lack of financial resources, unqualified management with only pr expertise. Traders are in and out of them because they know the company will fail or the quick $.
I perceive a $100M+ in revenue corporate entity will prevail as a going concern. One does not find many penny plays with this opportunity; if any.
I am knowledgeable about the gory detail of the financial responsibilities of a real company. At this time a failed pet company and a high-growth private company are establishing the framework. I doubt either entity has qualified accountants and suspect contractors have been brought in to interface with auditors. The restatement of the last two years of financials alone for each entity takes knowledge and time.
Hell, this does not even touch upon the growth that is being experienced and that expertise.
In summary, this may not be a play where one is in and out with the big bucks. I perceive this to be the real deal.
The next filing will not be so complex as the forward trianglar merger work will be complete. Also the accounting issues of a private company vs a public company will have been established.
I believe the filing delay is a direct result of the forward trianglar merger and late entry of auditing firm.
It is not simply a SEC filing but also an IRS filing. The way it is formulated has tax/tax free consequences for all parties concerned. Very complex IMO.
The SEC Filing must mirror the IRS Filing.
Forward Triangular Merger
A A A
Filed Under: M&A
Definition of 'Forward Triangular Merger'
The acquisition of a target company by a subsidiary of the purchasing company. The only difference between a forward triangular merger and a direct merger is that a subsidiary of the purchasing company, not the purchasing company itself, is the entity that acquires the target. Forward triangular mergers, like direct mergers and reverse triangular mergers, can be either taxable or nontaxable, depending on how they are executed and other complex factors.
Investopedia explains 'Forward Triangular Merger'
In a taxable forward triangular merger, the subsidiary buys 100% of the target's shares and the target's shareholders receive cash in exchange. In a nontaxable forward triangular merger, also known as a tax-free reorganization, the target's shareholders are compensated at least 50% in shares of the acquiring company. This gives the target's shareholders a continuing interest in the post-merger company and satisfies one of the key criteria for a tax-free reorganization.
One can even go back to ol Bob's pump of Marlex.
The 60M shares were issued at a cost of .0217 per share. I suppose this Praxayn cost is associated with the acquisition of the shell.
Revenues are recognized on the P&L; NOT the Balance Sheet.
Do you believe the form 4 filing giving the company $500,000 is bogus?
They probably are on i-hub. For example, scrc appeared on pumps&dumps website yesterday. I saw one individual pump it on the money runners board. There was one post on the scrc board. I looked at their alias/profile and saw which newsletter they represented.
It is against the law to promote a stock without identifying this. I'm sure it's done but it is against the law.
That is what I am saying. PDU needed the shell, NOT them.
I know what the 10k says. I really don't know why PDU would carry around the dead weight of Dan/Alysa. They know nothing about the business.
For all I know the 60M shares were part of the reverse merger with PDU. Everybody will know more from the SEC filings.
Well hopefully Dan/Alysa will be out when they file. Didn't they get 60M shares?
Put them out there. Someone will pick them up eventually cornstuffing.
Sellers pay for the pump....they need someone to buy their shares.
The promo launch share price was .003. The sellers have done well.
Promo has been going on for 17 days; 4 newsletters. See pumps$dumps website.
Well we are patiently awaiting the financials.....no panic here.
Mayday....Mayday....abandon ship
I have to say I had to chuckle at the "friendly note" post. I don't know where people come up with these financial jokes.
Thanks
Do you know how long the person had use of the free shares?
Ameritrade will take your shares for free. (hehehe)
Many of us are very familiar with what pumpsndumps is; especially with scrc.
I think the tout is coming from Stock Legends.
Yea, somebody was touting it on money runners.
Scrc listed on the "Pumps&dumps" website for the 6th time.
Hell they are doubling their production capacity; just a short-term glitch.
Those .0013's will be here soon. Too many pr's; no results.
It looks like much is in order. The new company should hit the market running with their first filing. I suspect they have sufficient cash with the 7.4M shares sold. I like the fact the sale was at market vs some reduced amount.
I'm guessing the old management are out as they were compensated pretty well. Old Management may be selling now but with growth revenues the shares will be absorbed.
They also got rid of $1M of debt in disposition of Pet Airways.
Should have a relatively clean Balance Sheet.
"The company has paid in full the only short-term convertible note that was negotiated with Asher Enterprises Inc. in 2013. The company has settled all its 14% Convertible Debentures and intends on settling all 8% Debentures in the near future." March 12, 2014 PR.
Hell, he already increased the AS. You know more dilution is on the way. Look at the sg&a expenses. DUH
Time to stop drinking that kool-aid. MJ hyped wannabe.
This just may be the real deal!
Form 4....10% owner acquires 7,441,584 shares @.067.