That bitchy old man who smells funny, talks to himself, and generally has a shitty disposition? Yup, that sounds like me.
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Those additional shares that just appeared on day we went EM won't help. My heart says .25 ... my head says lucky to cop .05.
Agreed. Can see From 10 by Thanksgiving, but EM status could go on past the first of the year. February/March honestly wouldn't surprise me, though it's unlikely. But 50/50 it's after the new year.
But it's happening, and that's the important part.
Snapple is a horrible example of what is possible with Prodigy! You're comparing apples & oranges. Prodigy has competition that is nationwide. Snapple didn't have ANY competition. Name me one beverage company that was operating on a national scale, um, when Snapple ... uh ... that was anything like Snapple when ... um ... uh ... huh.
That's a good example.
Oh goodie! I like make believe! Are you going to be Dick the Seaman?
I'm thinking I'll buy it for the pet insurance. My cat is 15.
Prehistoric is an apt word choice.
That's right. Marx was way correct. Research bares it out. Read Marx & compare his view of capitalism with America today. No daylight between them.
I can provide hundreds of articles like this
God Jesus, Schwab blows chunks. I miss TD. A lot. Had Schwab for a minute a couple of years ago. Schwab was stupid to assume their platform was better than TD's.
"yes you can see bid and ask use interactive to see bid & ask delayed level 1"
Would you mind expanding on that? No sure what your saying. Interactive Broker?
Certainly, yes. He could market sell from .003 all the way down to .0002. He has/had 25m shares or so, I think I remember him saying. That would make a lot of Canadians happy.
A's & B's aren't part of the commons, so cancelling those would make no difference to the public float, which is currently 276,256,511 unrestricted stares. The remainder of the OS - 109,881,685 restricted shares - were likely issued by the previous owner for whatever reason. That is what they are looking for the court to cancel.
From Q2 quarterly:
Total shares authorized: 600,000,000 as of date: 03/31/2023
Total shares outstanding: 386,138,196 as of date: 03/31/2023
Number of shares in the Public Float: 276,256,511 as of date: 03/31/2023
Some cat named Sam Dewar owns 35.5m & Danny Pate owns 22m. Not sure where the rest are. Not sure Ben, Sam, or Danny know either. But they're not in the float, so need to cancel 'em.
First, in EM one can't see the bid or ask. So to post a stock for sale, one is flying blind on pricing. This can lead to days/weeks to get them sold, depending on volume. And CNNA is low volume. If Swampy is selling several million shares, as he states, when volume is between 20k & 150k, that is going to take several weeks, at best.
Second, the only way you can guarantee you will sell the stock quickly is to market sell rather than limit sell. But, as one is flying blind with price, one has no idea what price they will receive.
So yeah, completely plausible.
Thx.
[t]
Opened a position in $CYAP. Spread on $ZENAF is too wide. Needs to settle for a bit.
Right you are. Thanks for reply.
Thanks for posting and drawing attention to these docs. Weekend reading.
So $CYAP is completely under $ZENAF? $CYAP has been trading for longer ... not that this matters, I guess.
Room to grow ... and grow the OS will.
Source?
Hey man, how you been? Been a minute ...
Yeah, saw that. Was expecting some sort of update as to resolution in court on 18th. That "10-15 days" represents what they "hope" the judge will do. But what actually happened? I'm not satisfied to assume best case scenario.
Four milly plus minimum 200k a month plus other gooey bits. My guess is they went to HIRU first and Kathryn couldn't afford it. IDK, guessing
Do we have eyes in Phoenix?
Nothing on Twitter abt court?
He goes by Claude Solitario, so I am told.
He resigned as director of Medibio in June, 2022 to pursue "other interests".
Source
Appears those other interests involve buying a OTC shell.
Marginally so, I suppose.
They did.
It's NOT wrong. I saw the property with my own eyes. I spoke with the receptionist and asked her about it. It was a building where businesses rented out space & had a common receptionist.
I live in Tucson. Oro Valley is 15 minutes north.
And FWIW, if the stock goes EM it will likely remain on that market for a minimum of two months. No buys, only sells. Dealing with that situation elsewhere.
You folks do know the address is a shared office space, yes? They rent small spaces out to numerous businesses & then supply a common front office person. So TTCM was just renting from this company. Yes, they might have to move, but the payment failure is not TTCM's, but their renters.
Sorry if this is already common knowledge. I was at the site a few years ago & thought I'd share.
Agreed, no way retail walks with 99%.
Where did you see Sinkule holds B shares? I didn't see him listed on the latest filing. If so, that explains where his payout would be coming from.
You state "Those Preferred C shares were purchased by Mr. Sinkule for $110k, and they did give him control over the shell. The rights/benefits/privileges of those shares are fixed by resolution of the board of directors, which is Mr. Sinkule. Current voting rights were noted as 10,000 votes per share, so he has 10B votes. He also owns 129,501 shares of the Preferred B's according to the company's financial disclosures".
Where did you find this info, generally? Did I not read the latest filing thoroughly enough or did I not go back in the filings historically far enough?
Yeah, everything else you stated makes sense. Thanks for your input!
.057 is, at a minimum, wrong.
Fully diluted value. Or do you thing the Series B & C shareholders get nothing out of this deal?
Look up "fully diluted value".
I got respects for you from another deal we were on couple years ago. I understand what you're saying abt the legacy shareholders & Series B conversions. That comes out to about 40m shares. But there are some other points I'd like your input on that I have been wrestling with.
1) There are 1,000,000 Series C shares. These are the only shares Joseph Sinkule owns. In this deal do they just go away, or do they convert somehow? If they go away, how does Sinkule capitalize?
2) The BCA states that no splits are allowed [Sec. 5.1(b)(iii), pg 45]. Is there another rider in the BCA that allows this R/S?
3) Initially, I agreed with you that retail would get R/S'ed down to about ? of 1% of value. My main hang-up with that is how the Series C convert. There is no stated mechanism to do so, and their nature is left very vague, as the quarterly states...
"The company is authorized to issue 1,000,000 Class “C” preferred stock at any time issue in one or more series, each series to consist of such number of shares before their issuance, be determined by resolution of the board of directors. The directors of the Corporation may by ordinary resolution, state the designation, rights, privileges, restrictions and conditions attaching to the Class “C” preferred of any series including dividends, redemption or purchase price, voting rights, conversion rights or any other provision."
Here were some numbers I ran, assuming the Series C shares convert to commons ... I would welcome your insights.
This deal is to buy the fully diluted commons. "Fully diluted" means all shares, warrents, options, etc. MUST be converted to common shares. While no warrents or options, there are Series B & C shares, which MUST be converted before the sale.
There are currently 1,044,861,360 retail common shares.
There are 405,250 Series B shares. They convert at 1 "B" share to 100 common shares, (stated in 1Q/23 filing). That's another 40,525,000 commons. Running total, 1,085,386,360 commons.
Series C shares are less clear but logically determinable. Founder & CEO Joseph Sinkule owns 1,000,000 C shares. They are valued at slightly more than all the retail commons combined, giving him controlling interest. Series C value ÷ commons share price yields Sinkule 1,057,851,239 common shares. Running total, 2,143,237,599 commons.
Retail commons ÷ fully diluted commons = 48.75%
.4875 × $60m = $29.25m
29.25m ÷ 1,044,861,360 = .028/sh
There are several ways to figure the value of the CEO's Series C shares, as the conversions are not clearly stated that I could find. But however one figures them (in any reasonable way), the overall precentage of retail common shares comes out somewhere in the 41.3% to 48.75% range. This would yield a per share price of between $0.0237 and $0.028 per fully diluted share.
Still a nice payday from the current $0.0044 (539% to 636% return), but nowhere near the $0.057 (1,295%) being touted by some. That number is based on just counting retail common shares & completely ignoring the "fully diluted value" aspect of the deal & the Series B & C shares conversion.
If in doubt, ask yourself - do you think the founder & CEO is just going to sell his company & give over the whole $60m to retail?
Nope, not even my ass. Just the filing.