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I'm in in for the long haul, we will see where we ultimately end up.
Too many successful products and climbing sales for this to end up nowhere.
THE REAL BOTTOM LINE IS HOW ACCURATE YOUR DAILY CALLS ARE. AGAIN, PLEASE CONTINUE TO SHINE THE LIGHT WHERE THERE IS NONE. I APPRECIATE ALL OF YOUR METICULOUS ANALYSIS. YOU CONTINUE TO BE THE HEARTBEAT OF THIS BOARD.
THANK YOU
I APPRECIATE EVERYTHING THAT YOU PROVIDE. THANK YOU FOR LETTING ME KNOW IF POTN IS GOING UP OR DOWN EACH DAY. PLEASE CONTINUE TO PROVIDE YOUR EXPERT ANALYSIS MULTIPLE TIMES A DAY.
THANK YOU
Thanks for looking there. Confusing as to which should be considered the real "date of record" as OTCMarkets.com lists out the below dates for annual filings:
2015 Annual - reported on 7/12/2016
2016 Annual - reported on 3/27/2017
2017 Annual - reported on 2/11/2018 (unaudited)
2017 Annual - reported on 4/02/2018 (audited)
YOUR INSIGHT IS INVALUABLE, THANK YOU FOR EVERYTHING THAT YOU DO. IT IS EXCELLENT WORK AND VERY APPRECIATED.
First - hopefully you understand the difference between when they have to file their annual statement and their quarterly statements. When I said May, I am specifically referring to Q1 2019.
It takes little to no effort to go to OTCMarkets.com and read about the requirements.
If your firm is listed on the Pinks, you have 45 days from the end of each quarter to release your quarterly data. The quarter ends on 3/31/19. 45 days from that means, no later than May 15th.
If a firm misses the 45 day cut off, they must file a notification of late filing, which provides up to 15 additional calendar days to post the financials.
Good luck to you.
I agree the next PR should have have substantial information on the share structure, hopefully accompanied by audited financials and some uplisting news.
When it comes to Q1 financials, my expectation is not mid to end of April 2019, but closer to mid may. Per otcmarkets, they have 45 days from quarter end (3/31). I think based on their history, they tend to use all the time at their disposal.
It's front and center on otcmarkets.com --> search POTN --> Company Profile.
Was updated on 3/1/19.
Correct. Even though POTN has not been the most timely when it comes to hitting on their expected dates, we do have the following coming up:
* 2018 year end statement showing ~$25M in total revenue with net profit.
* 2018 audited financials (should coincide with the year end statement)
* Filing of updated Form 10 Registration
^ Both were anticipated for completion by end of Q1 2019
* Q1 2019 posted no later than 45 days after Q1 ending, so 5/15/19.
Once the Form 10 is declared effective, they'll have the 2 years audited financials, and can again work towards OTCQB uplisting. Though POTN moves slow, I'm hopeful that is wrapped up by June 2019.
Should all the above take place, in addition to some positive news on the convertible note / outstanding debt coupled with increasing revenues in 2019, I really think the long term trajectory of this company is a no brainer.
Exactly, good DD. That $1.2M was converted at .25, which added just under 5M more shares.
If the rest of the debt can convert at, or close to, that price - then the additional share count increase is negligible.
The actual dollar amount of POTN's debt is negligible, given their rate of growth and ability to generate revenue. The only issue is that this is convertible debt, meaning instead of paying back that $$ amount outright, it is instead given back to the lender in the form of common shares. If I understand correctly, it is usually in the form of restricted common shares, meaning there is a lock up period before the lender can publicly sell them in the market.
However, the issue then becomes the reality of shareholder dilution, if in fact, the lender gets them converted at that absurd conversion price (.003). From the lender perspective, you want that conversion price as low as humanly possible, because they'll turn around and make a killing when they sell in the market. From the shareholder / company perspective, you want just the opposite.
This is what POTN's legal team continues to fight in court. There are many here that do an excellent job of keeping the board up to date on the court filings.
Couldn't agree more with this post. PRs are all nice and good, but once those financials are in the books - that's where the real price growth is.
Excellent point.
10-40K sounds reasonable, though I've never participated in one.
If that were the case - they are cleaning up at them.
Keep in mind - depending on the travel, booth setup, sales staff cost, giveaways, etc - trade shows can be expensive to run. My guess is that the trade shows are more or less for brand awareness / exposure and relationship building, rather than direct sales.
POTN participates in quite a few over the course of the year, though they always seem to have favorable revenue numbers coming out of them. I'm just curious what they end up netting per show.
If you'd like to argue about the date of file for an unaudited interim annual financial report, that's well within your prerogative. However, that should not be considered as the baseline for future filing dates.
There will be no Q4. Case closed.
Thank you.
Again - incorrect. The unauidted interim report contains annual numbers, not quarterly.
Wrong.
Though again, you are factually incorrect, you did not look in the report. A Q4 has never been posted - only annual statements.
Both the interim and audited are annual reports.
You'd have to open them to actually understand that, but you didn't.
Please, try to post factual evidence next time.
The unaudited statement you point to shows $15M in total sales. Tell me, is that what they did in Q4 2017 or what they did in the entire year.
Nice try though.
Lol still wrong
Lol both of those links are annual reports, just like I mentioned.
F for effort.
Correct.
I brought this up last week, nobody listened. POTN is not going to file a Q4.
As they have done the last 2 years, they will file an annual statement, likely sometime in March or early April, followed by a Q1 2019 report.
TD Ameritrade, Yahoo, etc - are all incorrect.
Thanks - will take a look
Definitely agree with you there, but a couple of notable differences without doing a real and true deep dive..
CV$I had already been on the QB exchange for quite a while and their share structure is far more under control than POTN's - we're talking less than 100M oustanding shares, compared to POTN's ballooned outstanding shares of over 500M.
In terms of CBD product lines and offerings, even in revenues - POTN is superior, no brainer you're right. That said, I think its their share structure, convertibles, and uplisting that's holding them back.
Fair assessment. To be frank, in the OTC pink penny markets, it's hard to decipher what is BS and what's not - even from company PRs.
I also found this bit towards the end of research report interesting:
"It is very difficult to value a company like PotNetwork Holdings, mainly because at this point we have only a partially-disclosed
capital structure from which to work. However, the Company has made steps towards greater transparency with the issuance of
audited financial statements and a commitment to continue issuing them, and with the filing of a Form 10 registration with the
SEC that was withdrawn by the Company due to the lack auditable financials of a legacy, unrelated and non-operating business
from 2015 that preceded the reverse merger that make PotNetwork Holding a public company. In addition, we do know from
OTC Markets that there are currently 569,583,968 common shares outstanding, and can infer that its Series A Convertible
Preferred will ultimately convert into something approximating one-third of the then-outstanding common shares, but we do not
know the terms and provisions of its other class of Convertible Preferred stock. "
From that research report:
"The Company trades on the over-the-counter pink sheets under the symbol POTN. Notably, the Company has retained a PCAOB
accounting firm and will continue to provide audited financial statements. However, due to a technicality in the Company’s
corporate structure, it will not be able to submit its Form 10 registration and seek uplisting to the OTCQB until it has three years
of operating history as Potnetwork Holding, which should occur sometime in early 2020. The Company's long-term goal is to
uplist to a major U.S. exchange, mostly likely NASDAQ."
Thanks - I think to my point again though, that filing on 2/11/18 was an interim unaudited year-end statement, not a "Q4" per say.
I'm all for them doing a Q4 as the board suggests should happen this week. I'm just not going to be shocked if we don't get it and rather, we receive a year-end audited statement sometime in March/April.
Thanks for that. I'm just curious as to how accurate those sources are.
Even going back to 2016 - per otcmarkets.com - POTN hasn't filed a Q4.
In 2017, it filed it's 2016 year end statement at the end in March.
In 2018, it filed its 2017 year end statement at the start in April.
Technically, the firm has 45 days post quarter close (12/31) to file their Q4 report. That would put them on pace to post the quarter by 2/14.
That being said, based on the last 2 years, I don't think there is reason to believe a Q4 is coming out. Rather, we'll see an annual statement in a couple months.
Thanks! Where is that Q4 report located though? I do not see it listed either on the active or in-active section of disclosures on otcmarkets.com - which should be the official book of record for filings.
Sorry - but what makes you think their earnings announcement will be this week? Most recent track record would indicate otherwise.
Take a look at otcmarkets.com - they never filed a Q4 2017 and rather waited and did a full year audited financials report on 4/2/18.
POTN then filed a Q1 2018 report on 4/30/18.
It's pure speculation. Go to OTC markets to see their filings and their timings.
How many more BCCI posts are we going to get here? Admins?
*crickets*
I'm officially down 98.33% on this hot garbage company. Complete and utter trash.
Today, VATE entered a Golden Cross, which is a favorable indicator for PPS increase. The 50 day moving average is now at .0419 and the 100 day is .0417.
Given distributor meetings this week, formal rollout of the RTD CBD beverages, Q1/Q2 of 2019 is well positioned to be VATE's finest quarter yet.
Patience is key.
Couldn't agree more.
Unlikely. CEO Shareholder note from 1/17 states there were distributor meetings set up for the end of January. Then again, the Blessed Bean acquisition on 1/24 again states that there were additional distributor meetings set and additional notes to follow in coming weeks as expansion ramps up.
My best guess is that we likely we will not hear anything until closer to the Q4 reporting deadline of 2/14, which would be 45 days after quarter end.
Patience is key.