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The preferred were created and ISSUED (not sold) to Custodian Ventures, LLC just after DL became custodian.
We are 30 days from the court order asking for proof of claims. DL post an Affidavit of Publication on 12/11. Are you saying that DL has to ask the court for a hearing to finalize the proof of claims?
What is interesting is that this shell was sold per the 8K in the middle of that process.
One doesn't have to own shares to be Custodian. The 8K does NOT say the Court terminated him as Custodian nor does it say Mr Wei was appointed Custodian in DL's place.
Some coincidence considering about that time you posted that you emailed and got a response from Lazar.
The sale was effective Nov 21 per the Stock Purchase Agreement attached to the 8k,
There is no mention of a RS in the 8K. There is also no mention of a Termination of the Custodianship. Probably because that is a court matter not a SOS or SEC issue.
Good thing you sold your 53M shares after emailing Lazar toward the beginning of the month.
What is the status of the custodianship?
DL, a natural person, was appointed the custodian. The controlling shares were held by Custodian Ventures, LLC not DL. Yes, DL controls CV but there is a critical difference here. Reading NV state law regarding custodianships, the custodian does NOT have to be a shareholder, they are selected by the shareholders.
I await word from the court either transferring the custodianship from DL to Wei Tian or terminating it.
One of 3 options:
1) DL retains custodianship and simply works on behalf of Wei Tian. or,
2) Transfer custodianship from DL to Wei Tian. or,
3) Termination of custodianship.
I don't think #3 will happen as part of this sale because the termination doesn't usually happen until the RM.
100M Shares of PREFERRED were sold. This doesn't affect common shares at all.
SPAC plays, particularly DL plays, are quantitatively different. In other markets a double bagger is a rare occurrence, a 3-5x is a once a decade thing. So, your logic makes sense in those situations. On the other hand, DL SPAC plays REGULARLY run 10-100x. Where other plays wait years to regain a double, this one will gain 10x in the next 2-3 weeks when the SS is updated and 100x when the RM is announced.
Where did you see that?
Not sure to what you refer? Yes, that is good advice. Also, seems ironic coming from an account less than 3 months old.
Born now over 4! Someone's engine is revved up.
No. The hearing on 1/8 is a Status Hearing not a continuation of the claims process. Given there is no hearing, the better guess is that no claims were filed. If there had been a claim asserted then that would have necessitated a hearing tomorrow.
How does one see the actual documents?
Trying to assemble a timeline for DD. Want to eventually post this as a moderator. Anyone know the significant dates in this case?
Was the Plaintiff Motion to Disallow Asserted Claim and Bar Unasserted Claims granted?
tk, what did the Order issued on 10/6 say?
It's ALREADY a sub-penny. Listen, there is a lot of DD posted here. Either you believe it or not. As to the cancellation, may I suggest you wait until the judge rules on the 11th. That will be definitive proof for you. It will also be a PPS in the coppers.
Wouldn't that be 0.02 cents ($0.0002)? ;)
No, may have been a state actor or large, well organized criminal enterprise getting revenge.
Are people just exiting their positions?
Will you still hate $XMET when those 1M are worth $100,000?
What stock is he using Receivership on?
Probably someone placed a market order hoping the price would go up in that second. Market orders are really bad for pennies, either buying or selling.
One doesn't get to apply the split factor to the total transaction price. It stays constant. Only the number of shares or PPS could be converted to pre-split values.
Ok, it's late I should have used the term cleared the "Proofs of Claim". Sorry, it's late and my brain was as detailed as that.
In any case:
11/11/2020 Order
Comment
Order Requiring Proofs of Claim
+30 days = 12/11/2020
Let's do the math.
$7k/$0.0025 (max price) = 2.8M shares
$1900/(2.8M+6.5M) shares = $0.0002/share
$0.0025/$0.0002 = 12.5 > 10 bagger
In this case it was 30 days ago because the judge gave him 30 days to clear the shares.
LOL. Or, are we in the city of X-wages?
Need New Broker advice: Considering Fidelity
I'm currently with eTrade however, they charge $4.95-$6.95 for each penny trade. Couple of posts mentioned other brokers who have no charge even for pennies. Considering Fidelity but wanted to get user experience from someone who has used them for awhile.
Natural contraction after a pre-news run. Did the same thing last week. Some people only trade the run and then take their profits.
Two things to note:
First, after the RM/RS announcement with a RS of 12:1, the PPS went from $0.02 to a high of $0.40. I'm guessing but the 12:1 didn't sound to bad and the new company had assets.
Second, SOLS management then took a couple months to get their act together and price slid a little. Then they adjusted the RS ratio. So, at the current price of $5.20 that equates to a pre- 120:1 RS value of 0.04ish
That's not the kind of run I'm looking for.
We are seeing the same thing in QUTRD (Born, Inc).
Not saying the stocks won't be worth anything in a year but monthS after the RM seem to be a bit turbulent.
Anyone else get a warrant expiration notice? Here is what I got. I'm confused about the Cashless Exercise option.
My thoughts also.
Caveat Emptor. Trump signs order banning transaction of certain Chinese stocks
This is a general warning. Something to be aware of with ALL Chinese stocks. While this company may not currently be on the list, Trump has another month to add more companies to the list.
In a nutshell, Trump's order bans transaction (not ownership) of stocks in Chinese companies that supply and support the Chinese military. The problem may be once shares are bought, one might be prohibited from selling them.
Trump bans U.S. investments in companies linked to Chinese military
Trump Issued an Order Banning Investment in Some Chinese Stocks. What You Need to Know.
In a normal quarterly report. It's just gross sales, NOTHING special.
Receiving inventory is NOT a material event otherwise almost all non-services company in the US would issue a report every week if not every day.
How does an average joe short a penny stock? I'm assuming his friends and relatives were not MM or company exec's like him.
That's why I picked up another 400k this afternoon.