Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Share count is around 2 billion based on my research from the filings.
Where is the 300 million share count coming from?--I can't find anything that backs that up and I want to get to the bottom of this.
One statement in early November says there were 2.5 billion outstanding shares and then a filing later in November says there were 3 billion. Then there was the 1 billion return to treasury and the additional shares from the Green Day Technologies acquisition.
Help on this would be appreciated.
There was NOT two separate returns. That second 8-K is only an amendment to first. Only 1 billion was given back.
Just so everyone knows, this valuation is not correct. I want the best for this stock, but I just want to give the facts:
-------
At the time of the share exchange agreement with Green Day Technologies on November 25th, there were 3 billion shares outstanding.
http://www.sec.gov/Archives/edgar/data/1082176/000072174813000883/ex10_1shareexchangeagmnt.htm
"As of the date of this Agreement, the authorized capital stock of KET consists of 3,000,000,000 shares of Stock, $.001 par value per share"
Based on a December 3rd filing, 1.052 billion shares were returned to the treasury:
http://www.sec.gov/Archives/edgar/data/1082176/000072174813000893/kgetk120413.htm
Based on the closing of the exchange with Green Day Technologies, each share of Green Day became 17 shares of KGET. Based on prior information found, there were at least 4 million shares of Green Day, so that's 68 million shares.
3 billion - 1.052 billion + 68 million = 2.016 billion shares
I did read them and that's exactly where I got the number from.
At the time of the share exchange agreement with Green Day Technologies on November 25th, there were 3 billion shares outstanding.
http://www.sec.gov/Archives/edgar/data/1082176/000072174813000883/ex10_1shareexchangeagmnt.htm
"As of the date of this Agreement, the authorized capital stock of KET consists of 3,000,000,000 shares of Stock, $.001 par value per share"
Based on a December 3rd filing, 1.052 billion shares were returned to the treasury:
http://www.sec.gov/Archives/edgar/data/1082176/000072174813000893/kgetk120413.htm
Based on the closing of the exchange with Green Day Technologies, each share of Green Day became 17 shares of KGET. Based on prior information found, there were at least 4 million shares of Green Day, so that's 68 million shares.
3 billion - 1.052 billion + 68 million = 2.016 billion shares
Value is actually 0.045 based on the recent order.
There are actually around 2 billion shares, not 300 million.
Ha! I guess it's my own fault. I should have known better than to get involved. If you want entertainment, you can't state any facts; you can only watch as the ridiculousness passes you by.
Why is it they were able to confirm the $10 million deal--though with rather inadequate documentation--but not the supposed $100 million deal?
Check the dates of the deals. The $10 million deal came on Jan. 16th and the $100 million on Jan. 29th. It's only logical that the 8-K for the preceding deal would come first.
And why no information about the acquisition of the former GDTK, which was supposed to have closed by today at the latest?
It's already closed.
I'm going to see if I can have you removed from this stock as a moderator. You are only confusing information given to those who would like to make educated decisions.
You're kidding, right?
Who would want to?
YES! Wow, you have seen the light. There was never a deal with Bryan Kang. It never got to fruition. No one ever said the deal went through. I'm glad you see that now.
That proves these guys are lying so bad about this whole Bryan nonsense. Good game. Thanks for posting that and destroying their "talks" with Mr. Kang.
Can you please explain how did you arrive at that $46M market cap..
I got to it by taking the 3,000,000,000 billion shares stated that were outstanding in the November 29, 2013 8-K filing, subtracting the 1,052,000,000 billion shares that were returned to the treasury in the December 4, 2013 8-K filing, and adding the shares (4,000,000 x 17) from the share exchange with Green Day Technologies (which was 1 Green Day Technologies share for 17 KGET shares) that was also outlined in the November 29, 2013 8-K filing. Then you take that and multiply it by the current stock price.
3,000,000,000
68,000,000
(1,052,000,000)
=
2,016,000,000 x 0.023 = $46,368,000 market cap
11/29/2013 filing
http://www.sec.gov/Archives/edgar/data/1082176/000072174813000883/ex10_1shareexchangeagmnt.htm
12/4/2013 filing
http://www.sec.gov/Archives/edgar/data/1082176/000072174813000893/kgetk120413.htm
Well shiver me timbers! Thanks for finding that!
That would only be 68,000,000 shares added to KGET's total share count. Not nearly as bad as I thought!
That leaves us at roughly a $46 million market cap, and that is very low if these orders keep coming and can be fulfilled. If this all ends up being legit, these shares are cheap.
I was saying it can't move up much even IF it happens. You are saying it will IF it happens?
And what's up with that 1:17 share exchange?
That is exactly the answer to the minimal stock price movement. Whether or not the shares truly have been exchanged, that is factored into the stock right now. Like others, I'm hoping this is all legit, but I'm guessing there will be billions and billions of shares outstanding. And so that's why we are where we are. There potentially may be a little move up yet (with more order confirmations), which I'm hoping for, but now I'm realizing it can't move all that much from here.
What I am saying is who is to say that the exchange has not already happened? Why does there need to be a SEC filing for a deal that was already disclosed?
I would say that due to the deal already having been closed we are seeing the current PPS we are seeing.
3,000,000,000 outstanding shares as of the the November 25, 2013 filing.
1,052,000,000 shares returned to the treasury on December 3, 2013
Based on how I have read it, the other 1.052 billion shares were returned previous to the 3 billion count in the 11/25 filing.
That leaves us with roughly 2 billion outstanding shares, which would give us a $46 million market cap. This is low when considering a $100 million order.
With that said, I am implying that the dilution of the Green Day Technologies acquisition is already in play with the stock price. I searched everywhere to find out how many shares of Green Day there were before the exchange, but I couldn't find it (if anyone has that info, that would be great). But I would guess that billions and not millions of shares were added to the total outstanding share count and that's why the $100 million order was just a drop in the bucket with regards to an increase of share price. The stock could easily already be at somewhere around a $200 million market cap if a couple billion shares were added (we are talking 17 to 1, that is a ton of dilution).
This is all speculation based on DD I have done and in no way can be considered the end all be all. Just my two cents at this point regarding the PPS.
The filing you just shared says it itself:
The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place within 10 days of this agreement.
And that was dated November 25, 2013.
This transaction is done! Give it a rest.
You just answered your own question: the closing occurred within 10 days of that filing.
How do you know it didn't happen? KGET shareholders aren't the ones getting additional shares; Green Day shareholders are.
Were you a Green Day shareholder? If you were and don't have your KGET shares yet, then I will listen to you.
Based upon price action, those shares are already in the mix. AND this 8-K lays out the transaction:
http://www.sec.gov/Archives/edgar/data/1082176/000072174813000935/kget8k121913.htm
No more 8-Ks needed.
Maybe you need to read the 8-Ks more thoroughly:
http://www.sec.gov/Archives/edgar/data/1082176/000072174813000935/kget8k121913.htm
Which is exactly why the PPS hasn't risen more, because the additional outstanding shares (the dilution) are already built into the current price. I'm not saying that's bad; it's good because of the value of the revenue Green Day Technologies is bringing to the plate.
They are a fully owned subsidiary:
http://finance.yahoo.com/news/kleangas-energy-technologies-inc-announces-130000481.html
Looks like trading has been halted now.
I actually managed to sell my shares... to get a nice pittance back.
Will I still have claim to whatever results a lawsuit brings about, if there is one?
What is the best way to approach tomorrow as far as trading goes?
All over.
If you don't hear anything on Monday, I'll give him a call on Tuesday.
Yes, that is what I am saying. But, like you said, I don't "know" if it is true; I'm only hoping it's true. Maybe itlogic will give us something tangible.
If, and only if, it is true, then the registration withdrawals of those 40 million shares from Tangiers is good news--40 million less shares of dilution while Skins still has the money to carry out their business model. That would be brilliant, but we must find out if that post is veritable.
Pulled from a Google Finance post on August 13th from a ggivens:
Spoke to Kevin Ota, 203-947-3693, public relations. The website is in construction, he also told me that the fall lineup products will be released soon.
Time was 10:40 AM EST Gary
And then again, maybe not. Craziness.
Everyone is confused as to what is going on. There hasn't been a single trade since the filing. This is crucial news and yet no one knows what to make of it.
LOL!!!!!
So all this time we thought they had two million from Tangiers when really they got nothing? No wonder nothing happened, and no wonder why we were so confused nothing happened.
Does this have anything to do with JED? Or some other form of financing? Or a buyout?
This was filed today:
Request to Withdraw Registration Statement on Form S-1 (RW)
http://sec.gov/Archives/edgar/data/1300744/000114420409043299/v157940_rw.htm
Yes, I see it.
You forgot about Raging Artists. They ran GetSkinnedAlive.com and got cut because the money wasn't there anymore.
The sad part is that the money was there, it just appears to have all been mis-used.
Yes, very odd, and yet the statement declares that MK still "is" the CEO of Skins.
I'm confused by the whole ordeal, to say the least.
There are still so many missing pieces in this picture for anyone to know what is going on, or why it is going on.
Did you see about this over here?
http://biz.yahoo.com/e/090813/orgc.pk8-k.html
MK joined the board of another company.
I truly think Skins has had their last possible financing session. There is no way they could do any more--the PPS would be microscopic. And if they don't have the new website up now, how will they ever get it up?
Does this mean the only good that is possible is a buyout of the company?
I posted this on Yahoo:
I sent out an email to Footwear Etc. to get what information I could about Skins being pulled. I got a reply. I was told they are not carrying Skins anymore and that they didn't know if Skins was going to continue with the product line. The word wasn't official one way or the other, but it doesn't look good--especially for any hope of a fall launch.
I can't imagine this being the end. They didn't even try. Absolutely no effort went into the recent launch. Horrible, horrible, horrible. I guess I won't be surprised either way it goes, but I truly hope something good happens. We'll see.
The e-commerce website never even got a try...
I posted it on Yahoo, so might as well mention it here as well: Skins has been pulled from Footwear Etc.
kezzek, is there a certain amount of days a company is required to report bankruptcy within? I tried to find the regulation, but I couldn't. I'm asking because wouldn't Skins be forced to release a PR about bankruptcy if it occurred? They couldn't just keep dragging us along, right?
I am glad people listened to you; you saved them some money. I am caught up in this stock. I do still have hope, but yes, things are looking glum. Investing is a serious decision, and I would caution everyone to thoroughly research before making that decision.