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It’s all in the Onci filings. If you don’t believe it you must not have read the filings. Your loss.
Back to real news:
On4 wrote down it’s “investments”Cogosense and Sifthouse to 0. I put investments in quotes because imo I believe there never was a dime of investment. I believe they were just statements made by Berman to try to speculators to believe something big was going on. When there was no follow up, you knew he would eventually write this down to 0 much like he did with accounts receivable.
During the 12 months ended October 31, 2018 the Company began to invest in Cogosense Technology,Inc., a Canadian (British Columbia) company, which had developed and an enterprise software solution for smart phones and tablets that detects the driving state of an entire on-the-road vehicle fleet and automatically places those devices into safe mode while driving occurs, to prevent distractions. Cogosense has also developed an individual consumer App. Version, which is a fleet vehicle tracking system to monitor vehicle locations at any time. The Company’s cumulative investment through July 31, 2023 amounted to $1,875,000. However, Cogosense ceased operations in 2021 and while the Company was still able to market the App, Cogosense was no longer able to continue to develop updated versions of the App. At April 30, 2023 the Company established an impairment reserve of $1,875,000 against its cumulative investment , and accordingly expensed it as a write down in its Statement of Operations for the 3 months ended April 30, 2023. The Company reserves the right to bring legal action against Cogosense to attempt to recover all or a portion of its investment.
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If Cogosense shut down in 2021 it means On4 deceptively led its investors to believe it was in business for another 18 months until this filing.
Meanwhile Trillium keeps converting $15,000 of preferred debt into 375 million shares. This has been done on a quarterly basis. All communication from Berman on X has stopped after the Spring/Summer barrage of useless franchise speculation. Hope nobody bought into that nonsense.
A/S was increased to 12 billion.
Looks like the 13/14/15 buys from yesterday got trapped by MM’s as the bid/ask opened at 12/13 and pretty much has stayed there all day. But,as I said before, not much volume yet so it’s only a few speculators…..
Dilution time again…..
JC needs the company to stay in business so he can continue to convert Preferreds and some of his toxic notes. I’d expect him to be bullish as usual but you should be looking for tidbits such as how to discretely contact Fair.
You would probably have better luck asking Canouse for answers. He is known to talk.
Stretching thin up here at 14 level.
Mm’s managed to moved the stock up a tick every time a new buy order appeared. IMO trying to create an appearance of an impending run. However, as of yet, there is just no volume to speak of. It’s a repeat of the recent run to 19. Think the MM’s keep it around 14 to see if they can find other buyers, if not, then a quick slide back to 10-11 by EOW.
All IMO.
Looks pretty much like a day where Canouse was selling part of his awarded quarterly common shares (dividend for holding preferred shares) this morning and then some buyers are coming to grab what they think are inexpensive shares.
What you need to remember is that Canouse gets 600,000 post split shares each quarter as a dividend.
The stock looks like it wants to trade the .0124 - .02 range for the next few weeks or at least until the D is removed. What happens after that is anyone’s guess.
Looks like Bobby T has resurfaced with a new company that,kid you not, helps company with improving cash flow.
For those posters on X that may read this board, Modern Pro Solutions is dead and has been liquidated. No bankruptcy filing yet.
Unknown at this time if Bobby T is going to roll his new company into HVCW but probably unlikely as that company owes so many a lot of money and is being sued by numerous equipment leasing firms,factoring companies, and customers.
Very interesting action this morning. The ask was dropped to .0010 for the first time in awhile and MM’s found a lot of buyers but they didn’t have much of their own inventory they could sell at a profit . They have unloaded some more at 11 and 12. It will be interesting to see where they close the stock this week. Chances are equal that it’s .0008 or .0014. Needs much more volume though. $30,000 per day is not much.
Posted five days ago:
Will we see a 9 print at the close today? .00098 seems to be in the cards ……
Late again on the Filing to be late (Annual ending 8/31/23). But nothing new here. They have been late every single quarter. I don’t expect the Annual to be released until late Nov or early Dec.
It’s not a priority for the company. In fact, it’s more of a nuisance than anything. That and talking to shareholders.
Until some of the insiders step up to the plate and purchase their stock (not counting option grants) this is a no go for me right now. Obviously $1.70 is too expensive for even them at this point.
Did I say 3 million shares? Now up to 9 million shares sold since bump this morning….13’s printing again.
3 million in sell orders predictably show up at 14-15.
Even more context is only $1100 spent for those 59000 shares purchased.
Nice weekly profit for a MM who absorbed a weeks worth of selling in the .013 area and could resell 58000 share block for 50% profit.
Not much $ but a profit is a profit.
Another $3500 paid for article. Well worth it for company if the pump drives it up to .002 where even shares can be sold at prices between .0014 - .0019 . Only good for shareholders who are flipping.
Knocking on the door of the early August low as we start seeing .0012 prints. If it doesn’t hold .0011 then most likely a quick spike down to .0008-.0009 area imo.
I’m actually think Fair will drop another S-1 filing (in the next 90 days) in attempt to raise $5 million. Will price it between .008 - .01 ( or a 30% discount to whatever current price is then).
Looks better to prospective new investors who have never heard of NECA , err Third Bench.
Bid buying continues which shows MM’s will consider selling their inventory at any price offered.
I don’t think folks realized the pump already happened on Oct 3-4. Been dumping ever since.
When your only currency is your common stock, the options for company shareholders are very limited. Those who hold Preferred Shares and those who structure deals where they can carve out their own agreements to get paid a management expense are in complete control of who makes money and who loses money.
The company is now Pink Current he says with a wink.
Financials for period ending 5/31 should have come out on 7/15. Yet Fair delays them until 10/4. Anyone ask Fair why it took almost another 90 days?
This stock is going to consistently alternate between Pink Current and Pink Limited, just like it has in the past few years. There is no in house controller (who resigned) as all accounting is being done on the outside (as stated in a filing last year) which opens the company up to errors. If they ever audit the books I would expect major restatements like the inventory adjustment they made in this past quarter.
The Rasmussen Cabinets LOI turned out to be nothing. Who would want to sell their company to Third Bench who has very little free cash flow? Except for a distressed, almost bankrupt company, nobody would.
Fair is going to have to dig himself out of this mess. He is getting paid because he is taking monthly management fees from all his companies. He still doesn’t own any common stock. Why would he? He knew long ago that he would reverse split the stock even when he told shareholders he had no plans to. At some point, he will start paying himself dividends on his Preferred stock (in the form of common stock) because he sees how well it’s working out for Canouse and friends. That is what you have to look forward to.
Even if Fair tries to sell the underlying businesses there so much debt owed that the company has zero (more likely negative) equity.
The only hope for common shareholders is if complete irrationality hits the market and people toss money at this without knowing the history of the company. Oh wait, that has already happened. But, it could happen again. Never say never.
The Annual Report filing is due on 10/15/23. Likely see a late filing extending it to
10/30/23. However history has shown it usually takes Third Bench at least another month being that to file. So I would expect the filing until first few weeks in December.
Will Fair reward shareholders with a surprise this year or continue to dump on them?
Might be time to buy in again if there is a dip…someone has been nibbling on the stock in the last few weeks. Still wary of an upcoming private offering though.
If the company has to pay dirt sheets to get your message out, then management is very ineffective at communicating this news for free. Which should lead one to believe that they are ineffective at many other parts of their business such as, for example, generating revenue.
Construction/home related business was pretty normal thru the summer months but has really fallen off starting Sept 1 imo. Scary area to be in if you don’t have cash flow. Customers will use their suppliers as banks. Try to order as much as possible then delay payment. Third Bench does a lot of residential work so that won’t affect them (credit card payments) but they will pay a steeper price on the receivables they are selling to factors.
We? Not just you?
Implies that you are part of a group of posters trying to coordinate messaging. Got it now. Thought you were a loner all this time. Go back and report this to your boss. Lol.
What I think is clear is you and others attempt to get responses in an effort to drive up the number of board posts, to attract more attention to unsuspecting newbies to hopefully help you bail yourself out of a bad trade (or in the case many bad trades by averaging down).
So you know where I stand and I know where you stand.
I post facts. You post hopes. Neither is wrong and are likely read by different people. Those that chose to ignore me are likely sitting in the Hope group now and can’t understand why a $15 million revenue company can’t get it’s sh*t together.
If i told you I own two shares here would that make you feel better and your opinion change because I’m a shareholder? I doubt it.
Insiders buying? Haha. Not when Canouse family still has a ton of preferred stock and receives quarterly dividends in the form of common stock. Just one example.
Give me a break with the naked short stuff. It ain’t happening here but if that is your reason for holding the stock you will be disappointed.
I love to expose Canouse related tickers. I’ve said that dozens of times. About as many times as you threatened to have sold but could never pull the trigger. Yet here we are.
As you have hopefully figured out by now, Canouse family has a method to their madness. It makes money for them at expense of common shareholders but in some strange way you have to give them credit for consistently finding new tickers and new speculators to run their games on as any Google search should make anyone run far away.
We have posters that have been wrong for several years and they dare criticize me? I’ve provided nothing but facts here because I can read and understand the financials.
Those that are trying to hype the reverse split up as something good because of the current (lower) share count are doing it because they need new buyers to help get them out of their own bad investment choice.
The company is essentially worthless since it is beleaguered by debt and can only raise money thru S-1 offerings, loans from “loansharks”, and other dubious non-conventional sources. No real bank will pony up money since there are very little assets that are already not collateralized against other loans.
Those that repeat the mistakes of the past are doomed to failure.
A ton a bid buying still happening.
I’ve said this before a bunch but if MM’s are letting you buy at the bid then they have a bunch of stock in their inventory that you can’t see is for sale.
You can likely place a large order (5 mil) around .0012 and have a decent chance to get it imo. Not that I’m interested, but for others who want to flip.
Why quote Q2 numbers when Q3 has been released?
Net operating LOSS: $3.97 million
Net Loss before taxes: $4.84 million
No more cushioning from the Employee Tax Relief Credits beyond this year.
Sales fell off 13% sequentially from Q2 even after price increases went into effect. As explained earlier they played games with inventory numbers to make prior results look better than they really were. Mostly at Santa Fe Flooring (dba OGB Architectual Millwork).
Still have almost $8 million in Long Term notes to pay off (paying off about $300k per Q) so 6.5 years to pay off at current flow assuming no more borrowing.
Then there are Preferred stockholders who really control the narrative of the stock because every 90 days they will get paid in the form of common shares.
If Canouse et, al wasn’t selling their dividend shares then just maybe. But that has never been the case. Plus there are other note holders that already have shares who are seeking to get out. One thing is for sure, you definitely do not control the price.
Sorry.
So by my calculations you own 150,000 shares post split, correct?
Transfer agent reports 26.7 million OS post split.
The fully diluted share count pre/split was 271 Billion shares. Post split would be 542 million shares.
50 Billion AS post split = 100 million shares . I’m sure the AS will adjust accordingly but in the end it will get bumped up by 100% each time they need to adjust. IMO, 400 million by the time they report 2024 year end results (which could be as late as Aug 2025).
Volume and dollar dumps accelerating during huge 10 million to 25 million share dilution trades.
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