Doing my thing!
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$GXXM needs to hold a low of $0.0007, and preferably close at $0.0008 to signal a reversal (doji + tweezer pattern + bullish harami are all possibilities)... this at the bottom of a potential Double Bottom pattern...
See picture here:
$GXXM needs to hold a low of $0.0007, and preferably close at $0.0008 to signal a reversal (doji + tweezer pattern + bullish harami are all possibilities)... this at the bottom of a potential Double Bottom pattern... pic.twitter.com/SKw75DIKyE
— Brian Michael Seaton (@BMSeaton) May 13, 2019
It's penny stock exempt, I'm fairly certain that protects it...
I don't know... I don't get into that stuff, I buy charts and charts alone...
I guess we'll see...
Errr.... It's probably less now... I hate to post this because this will come off negative though I am heavily invested here myself... But I like facts, and am an honest guy, so...
Per Yahoo Finance, 30.04% of the OS is owned by insiders - BUT, also per Yahoo Finance, the OS is 348.68 million (if you click on their statistics button)...
HOWEVER... Go to the OTC Markets reporting, click on the Security Details button and as of 5/3/2019 the OS is now 562.77 million - and that's before any dilution since 5/3/2019....
So... Obviously dilution has occurred since Yahoo Finances reporting of 348.68 million OS, which means 30.04% insider holding of the OS cannot be true any longer unless they are buying up their own dilution too at a consistent rate...
I doubt they are.... So according to my math, here is what I see....
When the OS was 348.68 million shares, according to YAhoo Finance, insiders owned 30.04% which is 104.73 million shares (that's 30.04% of 348.68 million shares)... Which means around the time that the OS was 348.68 million, the float was roughly 243.95 million...
HOWEVER... Now that the OS is 562.77 million, that means insiders only own 18.61% now assuming they still only own the same 104.73 million shares... Which makes the new float 458.04 million if all this is true...
But I own a good chunk of that, and I know of at least 1 person here that owns more than I do... Together we own about 80 million shares or about 17.47% of the float... Between just 2 people, though noteworthy, we could sell at anytime unlike those holding restricted shares from the inside..
Again though... I suspect, as many suspect that there has been a bunch of dilution since 5/3/2019 too... IE the OS is probably larger still than the 5/3/2019 reporting of 562.77 million shares... Question is, how much more was added???
Feel free to make a case otherwise, I hope you can... Though in the end this isn't that big of a deal really...
My sources:
Shows old 348.68 million OS via Yahoo Finance:
https://finance.yahoo.com/quote/GXXM/key-statistics?p=GXXM
Shows insiders own 30.04% (but of old 348.68 million OS) via YAhoo Finance:
https://finance.yahoo.com/quote/GXXM/holders?p=GXXM
Shows new 562.77 million OS via OTC Markets as of 5/3/2019:
https://www.otcmarkets.com/stock/GXXM/security
GXXM CHART: Here is what I am kind of seeing and why I am buying the dips here...
I like the repeated test of trend resistance and now we are starting to gain ground above the trend line, testing it for support - if we can get back above it, I like it to break off on a run...
Also watching for it to break and hold above the 20 day SMA - which would be a signal for it to test the upper Bollinger Band (like it did the last time that happened)... And I would like to see it break above the 50 day SMA which it has yet to ever do... And in doing all this, it will also trigger a bullish PSAR...
This is kind of a good set up for a trend breakout run... Some chartist would call this the 50 day SMA scoop...
I've been personally averaging a low buy in buying the dips here...
3 MONTH DAILY CHART AS OF CLOSE 5/10/2019:
https://pbs.twimg.com/media/D6VvIl3W4AAMZRM.jpg
This chart is the same, just shows the Bollinger Bands:
https://pbs.twimg.com/media/D6VvJzyWAAEv16e.jpg
I forgot to add. After a R/S, dilution is even more so harmful as I mentioned, but dilution is also less necessary because when you dilute, you at first at least are getting more value per share as a result of the R/S...
Again, no talk here of a R/S though ever occurred...
No, never discussed or mentioned but it could potentially make sense to do one at some point, and wouldn't necessarily be harmful if they did... Though truth is, it probably would be... But so far no talk of it has emerged...
R/S themselves aren't bad... It's when you R/S and continue to dilute that makes them bad...
A R/S itself is just a proportional split... Example... If you own a million shares you bought with say $1,000 and they do a 2 for 1 R/S, you lose 500,000 shares leaving you with 500,000 shares... But your 500,000 shares double in value... So they're still worth the same amount of money... They only lose value from that point of the company decides the further dilute, and they lose value faster then then they would have before the R/S... Twice as fast actually in this example...
It however makes sense to R/S to keep their OTC-QB status if they can't get back above the 1 cent per share threshold, though.... I think because they're penny stock exempt due to their asset value that isn't necessary either... I could be wrong about that...
Thank you!
In the post I'm replying to I mentioned that TD Ameritrade showed this at 348.7 million OS as of YESTERDAY...
They updated it today too, as I pointed out OTC Markets did recently on 5/3/2019...
Looks to me like the dilution is nearing an end, for now... IMO anyways... The math in the previous post explains my thought process as to why I think that...
Remember, these notes were DUE 5/6/2019 that were probably just paid (with 10% interest also due)... Interestingly, seems the OS went up roughly that much in the last month...
Next notes due in August...
Someone fill my $0.0009s before the next run up... Please!
"Now" = "No one" in this post... Cell phone, auto corrected...
Like 99% of the OTC does... Your point? Go to a different exchange if you want to find better quality in companies... Now is buying stocks in companies that are just fine at sub pennies... Duh...
And MAXM backed off to $0.0029... And only showing 10,000 blocks now...
I don't think he is here to do much damage today...
He's only showing 100,000 blocks, so he doesn't have much to sell I don't think...
I keep adding too on these wonderful dips...
Right?!? Like come on people...
Interesting, no MAXM, not even OTCQX and ALPS is still at $0.003...
Not at all what that means... The account and the auditors do not have to be in the same country...
Auditors just need statements and records...
If the SEC approved them for OTC-QB, then everything is kosher...
So what if they utilized a 3rd party service in another country... The SEC vets which auditors they accept an audit from, it's not like they can just have their grandmother audit their financials... There is a certification process, and if an auditor is known to pass fraud as a good audit the SEC black lists them, the SEC won't allow them to be used by any other company for auditing to uplist or remain uplisted...
I don't get why this spooks people... Is it a little odd, sure I guess maybe... But it's not really that unusual - consider how much the USA relies on countries like India and China, etc. to do a lot of our work... Stuff is out sourced all the time... Manufacturing, call centers, etc... It's still a US based country trading on the US OTC market...
Are you all saying Indians can't count? What's the problem?
If the SEC says they're an approved auditor, the they're fine... Again, you can't just have anyone perform the audit...
I just wrote my grandmother and she says she clears GXXM of all accusations.
I'm shocked
Or ever...
Good luck, I assume if GXXM doesn't go grey, then you've been proven wrong.
I can't just have my grandmother audit me into the OTC-QB
Yea, actually they vet auditors and blacklist ones that pass fraud... years have passed since they allowed GXXM OTC-QB
Did the SEC accept it
Why does anyone outsource anything to India?
Hmmm, And it's not on the NASDAQ?
Primarily pink sheet, yes... Because "bud da duh" they're not audited...
OTC-QB however... Which REQUIRES regular auditing... A little different of a story...
Yet they pay a lease for it still according to their filings...
Yet....
Audited...
OTC-QB...
Um.... I think the math I pointed to says otherwise...
What? Because they have a Google phone #? Come on... You know how many penny stocks I see with Google Voice numbers? TONS!!! That doesn't make them a scam or fraud...
An OTC-QB company, requiring to be audited to be such, a fraud? I mean... I can't say it's never happened before... But I highly doubt it...
Yep.... Buy into weakness, sell into strength.... If there is blood in the streets, start buying, and sell when everyone is high fiving...
No, I don't wonder about that at all, I honestly don't buy penny stocks because "they're all just such wonderful companies"... Nearly none of them are... If anyone is buying OTC stocks because they think they found so a great company, then they haven't a clue... 99.999% of these are all crap, and the odds are you won't find THE ONE that isn't...
BUT, this doesn't mean the stock cannot run still and make money... I see garbage run all the time...
You just have to know how the game is played if you want to make money...
Sure, again... probably why I bought this between $0.0009 and $0.0012 a share instead of dollars a share.... Getting past the part where we are on the OTC now, don't overlook this part:
Yea, well.... That probably explains why we're subpenny instead of trading for dollars now...
We'll see... I think it'll intensify until IT'S DONE...
Question is.... Is it done?
My point was, I think it might just be done now...
Even if that's true, if you followed the math I posted, the converting should be done then for now, or at least slowing down...
I would NOT compare 1 chart to another.... Dangerous practice that is... There are so many reason stocks will not do the same things as other stocks at any given point in time...
Dilution over???
I think the dilution could actually be done for a bit now, follow my train of thought here...
So the OS actually was just updated recently (umm.... on 5/3/2019 I think)...
According to the $GXXM Security Details page OTC Markets here at:
https://www.otcmarkets.com/stock/GXXM/security
The new OS is 562,769,244... Account for maybe 75 to 90 million more this week, that brings us to around a total OS of 637,769,244 to 652,769,244 currently...
More importantly though... Before the OS was just updated on 5/3/2019, it use to say something like 348,7XX,XXX, call it 348,700,000 which is what TD Ameritrade still shows the OS as... I think if I remember right, that was as of 4/2019 too, so in the last month they diluted a total of 289,069,244 to 304,069,244 shares...
I don't off hand know what might be the average share price these shares were sold at, but even if we say $0.0011, that's a value of $317,976.17 to $334,476.17...
Of course this is all rough math, but if I remember right, the note they had to pay off was something like $250,000 or $256,000, and maybe interest.... Which lands us in similar ball park figures here... And again all this math is rough estimates...
My point is, it might be fair to actually say that the dilution is over or almost over until I believe 8/2019... Which might actually be why MAXM disappeared this time instead of jumped up to $2.00 or where ever he sat on the ASK after dumping shares... Plus, I did notice that MAXM dumped "endless" share blocks of 1,000,000 at $0.0012 today, and right before disappearing, the "endless" share block size shrunk to 10,000... So it might be possible he settled the last bit today....
At least until (I think) August, 2019...
We'll see.... I guess as early as tomorrow, whether MAXM shows back up to dump or not...