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Something may be imminent here
Well, I wouldn't put it past Bob to attempt a final resurrection of this company and its microbial and clean-up capabilities. If not, it will be a fantastic shell for someone. Watch this space!
I saw recently that covid-19 cases in Kenosha County are now over 1,000. Hoping that all our workers continue to operate safely, and that they and their families are all healthy. Thank you for your focus and your effort in these unprecedented times.
Making PPE / face shields enables them to keep the factory open as an "essential" business operation. And, they've picked up a heap of PPP grant money that should be fully forgivable. So, making face shields is a lot better than doing nothing - I just don't know how they are going to link to needy customers as it looks like the only reference to their new expertise is on their website, which gets about a dozen hits a year.
"Everyone's looking for face guards" apparently:
https://www.aol.com/article/lifestyle/2020/05/21/where-to-buy-sneeze-guards/24379999/
Ours look a lot bigger and sturdier than the Etsy examples.
Yes - it is a long and very compelling story, with some very compelling science that was grossly mismanaged and overwhelmed by the narcissism, greed and criminality of certain people.
However this all ends up, I am certain that we have not seen the end of anatabine research and related therapies.
I know the volume is low but it is strange to see stock changing hands at over 20 cents - I assume it is a couple of manipulators simply moving small chunks around such that preferred owners can convert and make a decent short term profit. The common stock of this company has lost close on 99.9% of its value over the last several years and remains essentially valueless as there are layers of preferred shares and a mountain of debt that will get precedence when the house of cards finally tumbles.
If Ken continues to grossly misrepresent the company in his dealings with the "fresh meat", he'll end up sharing an adjacent cell to our CHO. Probably a better option for him than conning the wrong people and ending up in a wheelchair.
Happened to see on another (Y) message board that someone named "Nicholas" posted the following a couple of weeks back:
<< The patents I wrote for OriginClear in regards to oil and gas EWS and AOX and have all been abandoned. . I do not want my name Nicholas Eckelberry associated with this company. Please remove all mentions of me. Thank you >>
Can anyone shed a little more light on this?
Someone buying 100 shares at $0.155 Really?
Any chance of this getting to a nickel?
Maybe because they are only making a "limited" amount of them.
Yes - an interesting take! The unusual thing about this company (apart from the narcissism of the CEO) is that the higher the revenues they record, the greater the operating loss in dollar terms.
Quarterly report just filed with news of next to nothing going on.
Worst news is that, with three weeks remaining, nothing is happening regarding the extension of the supply agreement - I'm assuming that Cameron has not decided to source their manufacturing from another source so I am baffled as to why both companies don't appear to have any relationship or engagement with each other. In other bad news, the anchor of unpaid compensation remains though the till was not further raided during the quarter - getting $52,500 in regular salary for producing $4,500 in revenues was considered sufficient, I guess.
Better news is that they have confirmed the production of face shields though no details are provided with regard to marketing efforts, customer orders or revenues generated (other than that they are "limited" which is a meaningless statement).
Best news is that they have landed around $110,000 in a PPP grant which should be fully forgivable if they maintain a consistent operating presence for the specified period and allocate the money according to the terms of the grant. There's a small SBA grant in the second quarter as well. We should all thank the US Government for this generosity as they have just given us a check for about 25 times as much as all our first quarter revenues combined.
Looks like they are delaying the awful news for at least another month, by which time the stock will be between $0.03 and $0.04. Once we see that they basically didn't do any business at all during the first three months of the year, the price will slump another 30%.
<< OriginClear, Inc. (the “Company”) will be relying on the Securities and Exchange Commission’s Order under Section 36 of the Securities Exchange Act of 1934 Granting Exemptions From Specified Provisions of the Exchange Act and Certain Rules Thereunder dated March 25, 2020 (Release No. 34-88465) (the “Order”) to delay the filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 (the “Report”) due to the circumstances related to COVID-19. In particular, COVID-19 has caused severe disruptions in transportation and limited access to the Company’s facilities resulting in limited support from its staff and professional advisors. This has, in turn, delayed the Company’s ability to prepare the Report. Notwithstanding the foregoing, the Company expects to file the Report no later than June 29, 2020 (which is 45 days from the Report’s original filing deadline of May 15, 2020). >>
Great news headline today: "Malaria 'completely stopped' by microbe"
Close to half a million deaths a year could be prevented by "inoculating" mosquitoes.
Microbes are the ultimate healer for mankind.
A quite astonishing new 8-k just posted! Two brand new preferred series (with ultra-dilutive conversion features) - called "O" and "P" ... I must have missed the N's. Also, the Series M shares are being rapidly converted.
It never ends.
https://ih.advfn.com/stock-market/USOTC/originclear-pk-OCLN/stock-news/82363042/current-report-filing-8-k
Speaking of Bueller, here is a wonderful distraction:
https://melmagazine.com/en-us/story/ferris-buellers-day-off-schedule
Has anybody ordered any?
I was hoping that one of the other, long-suffering shareholders that congregate here could instigate such a contact.
He has responded! He's putting his money where his mouth is! Apparently his wife bullied him into making an investment! Such incredible leadership! I'm just awestruck! Gobsmacked!
How much? ... wait for it ...
$1,000 !! (0.28% of salary)
Time to stump up the remaining $179,000 and I will concede that you are truly committed.
<< If anyone is signed up for any of these hustles (briefings), could they ask how much the CEO and his core management team have themselves invested in these new preferred shares?
Register for my Insider Briefing TONIGHT! 5pm Pacific, 8pm Eastern...
My recommendation is that our CEO pledges to commit, say, 50% of his current salary (which would be $180,000) to this offering: then, he would have the benefit of getting those 10% dividends in perpetuity as well as putting his money where his mouth is. Also he would have the honor to hold 7,200 of these wonderful preferred shares as I'm sure there will be an incredibly active and vibrant secondary market for these gems. Failing that, of course, he could always convert them to common stock and make another 25% immediately as a result of the conversion discount.
And, as there are up to 300 million extra common shares reserved for conversions, you can be assured that there will be plenty to go round. What's not to like?
Hey, Riggs, lead the way! Don't forget - Water Is The New Gold !! >>
Does anyone know if they have actually sold some of these? Or, what the capabilities and prospects are? I remain a little skeptical about this venture as, it would appear, the only "evidence" is a mention on a website that receives about 10 unique visitors a year. This could be a scheme to (i) keep the factory open as an "essential" operation, and (ii) get access to PPP or other handout cash to help cover payroll and rent (though I think our CEO's back pay is probably exempted!).
As we all know, they do next to nothing in the way of PRs or updates to shareholders (other than mandated filings with boilerplate text) - is there anyone here that has any kind of relationship with the company, or is there anyone willing to try to establish such a relationship?
It occurred to me that if there was an oil spill right now, and if they used a voraxial to separate everything out, that the water would be worth more than the oil!
I agree! There is a whole section on the 10-k form precisely for this kind of information and, disappointingly, this is all they have to say:
NOTE M – SUBSEQUENT EVENTS
Impact of the Covid-19 pandemic on our company
The Company’s operations are located in the state of Florida which implemented a stay at home order in early April 2020. The stay at home order expires on May 1,2020; however, there are no assurances the Florida governor will not extend the duration of the stay at home order for an unknown additional period of time. The Company is unable to predict the overall impact on our company at this time.
Well, something is better than nothing I guess. Does anyone know what the production capability is within, say, a seven day period? A couple of thousand? More?
And, their website has a new front page which is, indeed, a miracle! And, "Cindy" attests to the fact that they have actually shipped at least one. We need a PR on this, of course, but they'll need some some metrics and order details to flesh it out. Then we can get some P&D machines to get the stock up to $0.25 and we can all quietly exit our positions.
If anyone is signed up for any of these hustles (briefings), could they ask how much the CEO and his core management team have themselves invested in these new preferred shares?
<< Register for my Insider Briefing TONIGHT! 5pm Pacific, 8pm Eastern... >>
My recommendation is that our CEO pledges to commit, say, 50% of his current salary (which would be $180,000) to this offering: then, he would have the benefit of getting those 10% dividends in perpetuity as well as putting his money where his mouth is. Also he would have the honor to hold 7,200 of these wonderful preferred shares as I'm sure there will be an incredibly active and vibrant secondary market for these gems. Failing that, of course, he could always convert them to common stock and make another 25% immediately as a result of the conversion discount.
And, as there are up to 300 million extra common shares reserved for conversions, you can be assured that there will be plenty to go round. What's not to like?
Hey, Riggs, lead the way! Don't forget - Water Is The New Gold !!
This just about sums it all up:
<< The board of directors is comprised of one member of our management and one independent director. Given the size of our company, our Board believes the current leadership structure is appropriate for our company. >>
I mean - why would the Board not think this cozy arrangement is fine and dandy? And, neither of these two members have any (i) financial, (ii) legal, or (iii) operational / logistics / QA qualifications.
FYI John & Ray: I am a shareholder and I DO NOT believe that the current leadership structure is appropriate.
Well, at least we can now understand the delay in issuing the 10-K - the first draft was a little too upbeat and it got returned with the instruction to make it as depressing as possible ...
It looks like there is absolutely nothing going on - no backlog, no prospects, no ongoing attempts to extend the manufacturing agreement
(no face guards, either)
Yep - there it is: "Accrued expenses - related party" ($611K) destroying the Balance Sheet - for shareholders it's a grim gift that keeps on giving - a horrible reminder of an entitled and grossly overpaid CEO overseeing close to a decade of under-performance and outright failure.
And then, we've got the overhang of those millions of options (granted without approval and at a below-market rate) which will dilute us all significantly once exercised.
Thanks to all the employees and management members of Pacific Sands for your dedication and hard work during these troubling times. There is high demand for many of the products that we distribute and the skill and effort that is being expended will help to enhance the reputation of our brands and to assure continuing stability for the company.
I would like to wish everyone a happy and healthy Easter.
Very interested to see a copy of that brochure. It's odd that they have not issued any type of Press Release or added a statement to their website (but then they haven't been forthcoming about their epidemiology and vaccine research achievements either!)
Wishing everyone a happy and healthy Easter.
Umm, this one:
URGENT - FACE MASKS IN PRODUCTION FOR SALE.
A friend of mine sent me a video that was forwarded to her of face masks that they are manufacturing and selling. Don't have any other details. Anyone else have any other information??
This looks like the lamest attempt at a pump that I have witnessed in many years! Another "rumor" is that they have a secret lab that is only weeks away from launching a novel coronavirus vaccine !!!!
<< If we do become The Water Company For The New Economy™, then you can take advantage.
This way, you get it both ways. >>
And, of course, when they don't: you'll still get it both ways - first with a hole in your bank account and second with a shiv up your rear end!
All of us 10% stuff reminds me of those going out of business sales at the oriental rug merchants - they can offer up to 90% off which seems unbeatable, right? How soon we forget that a percentage is just one component of an equation, and that the $25 entry price is in no way guaranteed ... 10% of nothing is always ... nothing!
Things are starting to look really good going forward for this company
I think the 10-K is imminent - all buys at the ask so far today, so someone is optimistic.
Here's the offering document - 90 pages of utter baloney that will be obsolete very shortly when the full FY 2019 financials are filed. The only upside for the unfortunate potential investors is that they'll be keeping 10% in an escrow account so as to be able to pay the promised dividend. I suspect that this is all the poor saps will ever get back.
The fees associated with the offering are grotesque and, if fully subscribed, would be higher that the revenues from the first 9 months of 2019,
At least we know that there were 6.7 million shares outstanding in mid to late February - that's about three times as many as at 9/30/2019. Not to worry, there are hundreds of millions more coming after conversions so there will be plenty to go around.
https://ih.advfn.com/stock-market/USOTC/originclear-pk-OCLN/stock-news/82119379/reflects-information-that-constitutes-a-substantiv
Well, it's no "big secret" if you look at the financials - declining revenues and massive operating losses: if they generate $100 in revenue they lose about $120 on it, and that is before being saddled with the huge, wasteful S,G & A (which, of course, includes the $30,000 a month in salary for the CEO - notice how he pays himself in cash, while "paying" everyone else with promises, IOUs and worthless stock that dilutes down by over 25% a month).
I think we actually know the answer already.
Personally, I come from the school that says that any company (but particularly a private one) has the right to know the names, contact details and holdings of every one of its owners. They don't have to know when those shares were acquired, or at what price.
Basically, this is what the company's Board wants to know and they would like to be able to account for as many as possible of the 370 or so million shares that are outstanding. From a practical standpoint, this would enable them to reach out to every owner on a highly efficient basis and, from a financial perspective, allow them to satisfy the SBA rules of stock ownership disclosure.
Yes, NOBOs make the job much easier than OBOs but it actually doesn't matter - I am an OBO that has declared and validated my ownership to the company ... that is all that is needed.
The problem is that there are certain folks that are being deliberately obstructive to what is, essentially, a simple request. And, the company and all of its owners suffer as a result of it.
Actually, it is now 5 cases in Kenosha, with "community spread" identified:
https://www.dhs.wisconsin.gov/outbreaks/index.htm
Hoping that everyone at Pacific Sands stays safe and observes all the proper precautions in their daily lives at home and at work. Currently, there are four confirmed COVID-19 cases in Kenosha and 281 across Wisconsin:
https://www.msn.com/en-us/news/us/coronavirus-in-wisconsin-four-deaths-281-confirmed-cases/ar-BB11qolN