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Gempicker...on behalf of many I am sure, appreciate your clarity on the technology this company presents and the potential stock investing opportunity...
Compared to last Qtr...
Total Current Assets - $9.93 million down $675k from last qtr
Total Current Liabilities - $23.6 million down $2.9 million from last qtr
Long-term Liabilities - $40.8 million down $3.6 million from last qtr
Revenues - $1.44 million vs $3.2 million last year & $1.46 million last qtr
Loss from Operations (788)k vs (1003)k last qtr - still losing money
Total Other Income - $2.22 million vs $(5.48 million) last year & $(1.86 million) last qtr - huge positive "Change in fair value of derivative instruments" and drop in interest expense - this is main cause of positive income, not actual operations
Net Income - $1.52 million vs $(5.5) million last year and $(2.9) million last qtr
Total Assets of 10 million vs Total Liabilities of 41 million - not a good situation
Overall, I am not all that impressed with this performance - I am not an accountant, but these numbers are hardly evidence of robust growth out of the morass...
Market Cap - $278k w/214.4 MM shares on 9/30/18 or $549k w/430 MM shares currently
Remember this post OFRI ???
I would agree with your analysis if you were a short or trying to pick up shares even cheaper...otherwise, its hog wash...
I believe this 10k should tell us all we need to know...does the company have the potential to make money ? If so, is it enough to pay off the TCs within say 6 mos w/o any more dilution ? If the company is still not profitable after all this time, the stock will flounder and then ultimately perish...
Not sure what everyone here is gloating about ???? Disastrous financials...close to 3 million market cap...pest control - ridiculous business and even more ridiculous revenues of a paltry few hundred thousand and losing heavily at that...did I miss something...hemp is hallucinating for the future which only the future can bring...till some solid news of hemp cultivation is offered, this looks like a loser...but who knows, stranger things have come to pass in this OTC/Pink Sheet space of cheats, hoodwinkers and charlatans...best of luck...
sorry...in my earlier post I incorrectly said "to the current $0.0013/share and 6 million $ market cap !!!!"...actually it is just a 600k market cap (400+ million shares x 0.0013)...which makes the current price severely low if the company reports positive earnings (EBITDA) and a way around the TCs...a ten-fold increase should be easy in that situation...however, how the remaining loans are handled is the key...
A company which at its peak in 2013-14 had over 400 employees and brought in over 160 million $ in revenues per year, that is now barely just EBITDA positive on a 6 month basis (as per the last 10q), has seen its stock price plummet from over $600/share (split adjusted) and several hundred million market cap to the current $0.0013/share and 6 million $ market cap !!!!
Key reason of course is the assumption of over 60 million $ in toxic convertibles at the peak and the ridiculous pace of dilution brought about by these TCs, all because of an idiotic and perhaps pompous CEO, who nevertheless may be trying hard to save his company by reducing and even eliminating these TCs w/o filing for bankruptcy. Overall TCs reduced from over 60+ million to under 10 million at present, a 12 to 15 million$ current revenue stream, almost EBITDA positive. I would think a merger or a 10 million $ loan facility from a bank would do wonders for this stock. Either option would result in a 3 to 10 fold increase in SP right away IF and only IF the CEO can spell out future growth plans to increase revenues and profitability. Otherwise, current MC at 6 million with 10 million $ TC overhang is fair value.
I went back this morning and read the posts here over the last several months...Oh yes there are several here that are doing someone else's bidding...but that is true of almost all these penny stock boards...now if someone is short and making their point that the company has several issues, I have no problem with that...however, I see a lot of posts that bash with no credible evidence...of course, the flip side is that there are always those that pump for no reason and these folks always appear when the stock has just made a run...to me these are two sides of the same coin...
In any case, if I remember correctly, this company had upwards of 400 employees at one time and therefore a large payroll...several times the CEO claimed they were about to become EBITDA positive in the past only to be sunk by the toxic converters every time...of course without doubt aided and abetted by the FUD gang...fear, uncertainty, doubt...this is a legitimate business unlike so many in the pink sheet/OTC space...but a combination of bad management and heavy dependence from early on upon funding by the sharks has brought it to its current pathetic condition...more than anyone else I blame the SEC for ignoring the losses incurred by many hapless investors here, some that I see with quite substantial losses...when a company with real revenues, real head count, is allowed to continue to operate here in the U.S., but is decimated like this company has been, one has to wonder what is the role of the government that is supposed to oversee this and protect the common investor...
There is one poster here who claimed a while back to have made a million $ in some stock trade...now why would that poster who happens to be constantly negative on this company's future have any interest in a sub-penny stock one might ask...if I made a million bucks in the market, would I hang around a penny stock board day and night finding fault with a penny stock I do not own ??? Ask yourself what could be going on here...
For the sake of all the long-suffering longs here I hope Mr. Munro comes up with a real credible 10q for a change, one that shows promise of wrapping up the toxic conversion immediately and strong prospects for future growth and profitability...
I remember those days !!! I have traded this stock myself between 7 and 17$...those were heady days for this stock...I have followed this stock ever since but only dabbled in it occasionally...always lost money due to the constant dilution...in those days the company had a revenue rate exceeding 100 million$/yr (if I remember correctly)...but it always had a lot of TCs and these TCs are the ones that brought it to this state...Munro may also be responsible for this massive decline, but his inability to understand the power of these TCs working in cahoots with many who post incessantly on message boards in spite of having no position is mainly to blame...it is a pity as to what has happened to this company, a company that atone time had much promise...the government (SEC) is asleep at the wheel as usual...
I can understand the cheapest option you mentioned, but the second cheapest is a vaccine ? As I understand it, a vaccine is for prevention...it does not tell you whether one has contracted anything...am I wrong ?
he has already explained that the R/S is needed to get the moula from the funders to pay his own salary and keep the lights on...why can't you buy that explanation ??? Stocks go down, especially on the pink sheet and OTC level, because the R/S is blatantly carried out to sell more shares to TCs...here he has identified a funder, and the SEC has said the funder cannot come in unless....again, I understand those of you that gave got seriously burned by all the false promises in the past, but either you need to sell and get out or see every investment as a new investment...leave the constant grumbling to those that have a clear ulterior motive, like the grievous one...
Don't believe he was pumping...just pointing to a SA piece where the CEO claimed higher revenues this qtr than even the revenues stated by him which in itself were higher than ever !!! Whether that is true, or how much of it is, remains to be seen in the upcoming 10k...have patience and stop beating a dead horse...
I know this is difficult but it is important for folks to view every investment as a brand "new investment". So if you have invested several times in this company during the past, each time hoping for a good return only to be disappointed every time, either you should have sold, taken your losses, and moved on, or if you believe anything good will come out of it (risk vs reward basis), make a brand new investment. I know this is easier said than done (I wish I had followed it myself !!!), but in hindsight I believe this is sound advice. Take me and this investment for example. Barely heard of this company till the other day when it lost 60% of its value based on a RS announcement. As I read up on the company and saw all the bombastic news releases of the past, combined with being headed by an arrogant SOB that was once a higher up in the Bush/Obama homeland security dept., I decided to take a chance. Is it going to work out? Who knows... but an investment at 0.0002 appeared attractive (now 0.0003), at least for a quick flip. Very often, our past involvement in an investment clouds our judgement. Then there are always those holier-than-thou types on every stock message board that are perpetually negative (of course they play their own game). If the CEO is an arrogant SOB, I have no problem with that. I am not married to this guy and don't expect a decent guy to be a company CEO. In fact, most successful CEOs I know are arrogant SOBs. Is he an out-and-out crook, I doubt it. Based on his past credentials I would say he is par for the course. So, let us see what the 10k brings shall we...
The Chinese, Indians, East Europeans and Russians care two hoots about the U.S. FDA. If there is some evidence that this test works based on their own testing, no matter how low those standards are vis-a-vis the U.S. and European standards, they are going to buy...especially and importantly because it is the cheapest option for them...
great find...unfortunately, this indeed puts the nail in the coffin for ABWN...surprising that the smart ones here had not counted this possibility before...or did they ???
From the 10k...
First milestone..."We expect to achieve this first milestone in the next six to nine months, and believe we will need to expend approximately $500,000-$1,000,000 in additional funds, which funds we do not currently have on hand."...this means 20 billion share dilution at current rate !!!!!
The second (Obtain an initial FAA approval for installation on aircraft) and third (Set up capability to roll out Infinitus) milestones will require 60 and 350 million $, resply. !!!!!!
The fact they can't even get 500k to get going is telling...not sure what they did with the 5+ million in cash they had at the beginning of last qtr...
macd...sorry I do not have private messaging...
My 2 cents on this stock, now having read the latest 10k...
These guys were technically incompetent from the get go...they just purchased a patent and set up the whole dream !!!
From the 10k..."Infinitus was originally based principally on a United States patent that we acquired in August 2016."
Their only "claim-to-fame" on a technical front. and this is a purely technology-dependent company, were the de MOS father-son duet that supposedly were instrumental in the first airplane internet service airtel (now totally antiquated).
The clearest proof as to the lack of significance of their patent that supposedly involves a "method of synchronizing free space optic links between aircraft in flight" is that a company like FB won't even bother to throw a few million at them in return for buying out this pattern. So I believe it was all hogwash created by a few, possibly well meaning, but dumb ass self-created technology wizards, thinking they could revolutionize the world and provide cheap internet access to every nook and cranny. What is more astonishing is that the original guys at GE, Air Lease and Mynaric that fell for this stuff and were partners in crime as these guys advertised again and again selling their crap. Of course, the guys who lent them funds to keep the doors open, the toxic converts, were the only smart ones who knew the con game as soon as they saw it. The latest thing with Sabby et al., I do not understand. Of course, this could be another ruse to jump the stock price so those guys could ultimately recoup their losses...
Till some credible party says to these guys "we would like to partner with you and here, take a few million to keep the doors open", it appears to be a total hoax...
can you remind us as to what the connection is between Bravatek and First Net...I thought I had read that some lace, but can't remember...thanks
No comment on the fact that I was able to sell millions of shares of this stock even when there is/was no bid ??? In my experience, this generally happens either (1) the stock is bout to go completely dead (for example like SVTE) or (2) the stock is about to rebound based on a material and significant press release...
proof...the ask has already jumped 50% after that 8k...
For what its worth I was able to unload close to 14 million shares yesterday at 0.0001...didn't expect to, but it went through after a bit...few million at a time...not sure what that means but I thought you guys need to know...
Wow...now that is what you call a stellar resume !!!
The full scope of that deal was contingent upon approval from the CFDA...Has the company won the approval of the Chinese Food and Drug Administration ?
4 million $/yr from Eastern Europe and Russia for the next 5 yrs (beginning 2019)...1.5 million $/yr for the next 10 yrs from Turkey...???$/yr from China...???$/yr from India...FDA approval in 18 mos and then ???$/yr from the U.S....Canada ??? Europe ??? Japan ???
Endless possibilities, much of it right now, for a co. with <1.5 million market cap...
sorry for your loss...I too have lost a similar amount thus far, and so have many, many others...but I keep hoping there must be some method to this madness...the principals of this co. do not come across as crooks out to loot people's money...I believe they had a genuine idea but their technical skills were questionable, thus their professed technology may have been suspect all along...nevertheless, the company has sunk over 100 million $ in this venture...I doubt all is lost since folks would not have lent them serious funds just a few months ago if that were the case...the recent lockout is also puzzling...me thinks something is afoot...its a gamble, but if it fails it is because they have a bad product, not because of daylight robbery as some here are prone to harp endlessly...
what is your proof that they are crooks and not victims of their own incompetence ? IMO, unless one is long or one is protecting one's short position, if one holds no position now even though one may have held a position in the past, one needs to move on and not waste one's time on a stupid BB stock message board...just my humble opinion...
Anybody who has familiarized himself or herself with this company knows fully well that this is an extremely risky investment and further that up until now every single person has lost bigly on their investment. So I do not understand all these folks who have either lost bigly in the past or have never ever invested here constantly posting negative things about investing in ABWN. Everybody assumes posters and lurkers here are adults, and thus no hand holding is needed.
I like to view each investment as a new investment and look at the potential from here-on-out. I have not seen any evidence that the principals of this company have committed any crime, yet, since there is no evidence of that whatsoever. Mismanagement, poor planning, poor understanding of sharks loaning them money, yes I agree all that is possible. But the concept they are pursuing continues to be fascinating, and the investment made by many in this company and related companies is solid. I do not see any evidence of the principals walking away with large sums of money, so all references to fraud is like those stupid folks in FL who claim fraud without a scintilla of evidence.
I see a lot of potential here, and I thank gempicker for focusing on the technology instead of the company's fate. Could you lose all your investment here like in the past, sure you can. But then hopefully you are not still in high school and investing your mama's funds from the cookie jar. Sabby and others could not have agreed to a lock-up agreement unless they saw some potential to recover their monies. Calling them crooks is like the pot calling the kettle black.
From the 10/17/18 8-k filing...
On October 17, 2018, the Company entered into a lock-up agreement with each of Sabby, Ionic, Anson Funds Management LP (“ Anson ”) and Hudson Bay Master Fund Ltd. (“ Hudson Bay ”). Under the lock-up agreements, each of Sabby, Ionic, Anson and Hudson Bay agreed with the Company that for a period of 60 days, such party would to refrain from selling, offering for sale or otherwise transferring any shares of Preferred Stock, shares of the Company’s common stock, Warrants or other securities of the Company. As described above, the lock-up agreements provide that Sabby is permitted to transfer Company securities during (i) the 30-day period following its initial exercise of Warrants under the Sabby Exercise Agreement and (ii) during the second 30-day period of the term of the lock-up agreement, in the event that Ionic does not exercise $600,000 of its Warrants on the 30 th day following the effective date of the Ionic Exercise Agreement and Sabby exercises an additional $600,000 of its Warrants on the following business day. However, if Ionic does exercise $600,000 of its Warrants on the 30 th day following effectiveness, then it, and not Sabby, will be released from the terms of the lock-up for the second 30-day period of the term of the lock-up agreement. In the event that neither Ionic nor Sabby elect to exercise at least $600,000 of the Warrants after the first 30 days of the term of the lock-up agreement, then the lockup will expire as to each of Ionic, Sabby, Anson and Hudson Bay.
Each lock-up agreement also contains also contains “most favored nation” provisions that provide that if the Company offers terms, or any waivers, modifications or amendments, to any of the other signatories to the four lock-up agreements, then it must offer such terms, waivers, modifications or amendments to the signatory of the non-altered lock-up agreement. Each lock-up agreement also contains a release and waiver of any and all claims the Company may have against the counterparty to such lock-up agreement, other than those arising primarily as a result of any material violation of law.
There is no material relationship between the Company or its affiliates and Anson or Hudson Bay, other than in respect of the the lock-up agreement between the Company and such parties described above and such parties’ ownership of Warrants and Preferred Stock. This description of the lock-up agreements does not purport to be complete and is qualified in its entirety by reference to the terms of lock-up agreements, which are attached hereto as Exhibits 10.3, 10.4, 10.5 and 10.6 and are incorporated herein by this reference.
Price since June 1 has gone down by over 1500% (0.02 to 0.0022), although O/S have only close to doubled (169 to 318 million)...seems obvious that the move upwards has started in right earnest...what am I missing ??
Do you own shares now ? You seem to be most knowledgeable around here...
This company clearly has good potential...I went back and looked at its history and cannot come up with why it has lost 80% of its value over the past two months...can anybody help me ? thanks...
what you say makes no sense...
I am not sure anyone here has provided a satisfactory or even preliminary explanation for why Sabby and Ionic chose to do what they did...especially considering that most folks here think the stock is going to zero...
Item 1.01. Entry into a Material Definitive Agreement.
Exercise Agreement with Sabby
On October 17, 2018, Airborne Wireless Network (the “ Company ”) and Sabby Volatility Warrant Master Fund, Ltd. (“ Sabby ”) entered into that certain Exercise Agreement (the “ Sabby Exercise Agreement ”) pursuant to which Sabby, which holds certain shares of the Company’s Series A Convertible Preferred Stock (“ Preferred Stock ”), Series 1 Warrants to purchase shares of the Company’s Preferred Stock (the “ Series 1 Warrants ”), Series 2 Warrants to purchase shares of the Company’s Preferred Stock (the “ Series 2 Warrants ”) and Series 3 Warrants to purchase shares of the Company’s Preferred Stock (the “ Series 3 Warrants ,” together with the Series 1 Warrants and the Series 2 Warrants, the “ Warrants ”), agreed that it will exercise a minimum of $600,000 of its Warrants
on or immediately following the effective date of the Sabby Exercise Agreement (the “ Effective Date ”).
In connection with and pursuant to the terms of the Sabby Exercise Agreement, Sabby also agreed to enter into a lock-up agreement with the Company under which it agreed to refrain from selling, offering for sale or otherwise transferring any shares of Preferred Stock, shares of the Company’s common stock, Warrants or other securities of the Company for sixty days, except that the transfer restrictions will not apply:
(i) during the thirty-day period beginning on the date of Sabby’s exercise of its Warrants; and
(ii) during the subsequent thirty-day period after the first thirty days if Ionic Ventures LLC (“ Ionic ”), which also holds Warrants and entered into an agreement with the Company, does not elect to exercise on November 16, 2018, and Sabby instead exercises an additional $600,000 of Warrants.
The Company and Sabby each also agreed to use reasonable best efforts to take all required action to amend the terms of the Series 1 Warrants and the Series 2 Warrants to extend the expiration date of each to May 29, 2019 from November 29, 2018. The Sabby Exercise Agreement was also conditioned upon each other holder of Warrants signing lock-up agreements similar to the version signed by Sabby.
There is no material relationship between the Company or its affiliates and Sabby, other than in respect of the Sabby Exercise Agreement, the lock-up agreement between the Company and Sabby described below and Sabby’s ownership of Warrants and Preferred Stock. This description of the Sabby Exercise Agreement does not purport to be complete and is qualified in its entirety by reference to the terms of the Sabby Exercise Agreement, which is attached hereto as Exhibit 10.1 and incorporated herein by this reference.
Exercise Agreement with Ionic Ventures
On October 17, 2018, the Company and Ionic entered into that certain Exercise Agreement (the “ Ionic Exercise Agreement ”) pursuant to which the Company and Ionic, which holds certain shares of Preferred Stock and Warrants, agreed that Ionic will have the right to exercise a minimum of $600,000 of its Warrants on November 16, 2018. In connection with and pursuant to the terms of the Ionic Exercise Agreement, Ionic also agreed to enter into a lock-up agreement with the Company under which it agreed to refrain from selling, offering for sale or otherwise transferring any shares of Preferred Stock, shares of the Company’s common stock, Warrants or other securities of the Company for sixty days, except that the transfer restrictions will not apply for the second 30 days of the lock-up agreement if Ionic elects to exercise $600,000 of the Warrants under the Ionic Exercise Agreement on November 16, 2018.
The Company and Ionic each also agreed to use reasonable best efforts to take all required action to amend the terms of the Series 1 Warrants and the Series 2 Warrants to extend the expiration date of each to May 29, 2019 from November 29, 2018. The Ionic Exercise Agreement was also conditioned upon each other holder of Warrants signing lock-up agreements similar to the version signed by Ionic.
There is no material relationship between the Company or its affiliates and Ionic, other than in respect of the Ionic Exercise Agreement, the lock-up agreement between the Company and Ionic described below and Ionic’s ownership of Warrants and Preferred Stock. This description of the Ionic Exercise Agreement does not purport to be complete and is qualified in its entirety by reference to the terms of the Ionic Exercise Agreement, which is attached hereto as Exhibit 10.2 and incorporated herein by this reference.
isn't this the old news of the 31st of Oct. recycled ?
Weren't you the guy that bought low and sold high ??? Now you want others to avoid this stock ?
KashGreen Tuesday, 10/09/18 02:21:30 PM
Re: crudeoil24 post# 22321 0
Post #
22331 of 22555
Yep good ride. Bought @1.65 sold @$2.75..
From Scott the messenger boy...
I am in contact with the company and have passed on your communications. I am not responsible for setting corporate communications strategy and have no information regarding the future communications. Management of the company is pursuing its business model. I am not able to provide a direct contact number for Mr. Warren. I have no further information beyond what has been disclosed publicly.
Wonder what business model they are pursuing !!! Race to the rank bottom....
Grasping at straws...
Item 1.02 Termination of a Material Definitive Agreement.
On August 28, 2018, Airborne Wireless Network, a Nevada corporation (the “ Company ”), and Air Lease Corporation agreed to terminate, effective as of August 27, 2018, the Marketing Memorandum of Understanding, dated as of January 9, 2017 (the “ ALC Agreement ”), entered into among the parties. Under the ALC Agreement, Air Lease Corporation had agreed to act as marketing agent for the Company to arrange for airlines to install the Company’s equipment on their aircraft. Because the Company’s high-speed meshed broadband airborne wireless network linking commercial aircraft in flight is not yet ready for commercialization, no activity has occurred under the ALC Agreement, and the parties determined it to be in their respective interests to terminate the ALC Agreement.
Not yet ready.... as in company is still breathing ??? The stock price definitely does not indicate any life left...so what gives ? Has nobody been able to communicate with the company ? or the SEC ???
Innocuous Response...at least they seem to be alive...
Hi *****,
Thank you for your note. The company will provide an update as developments warrant. Please refer to the company’s filings and press releases for the most up to date information. I have no further information at this time.
Best regards,
Scott
Scott Gordon | President
CoreIR
377 Oak Street
Garden City, NY 11530
516 222 2560
scottg@coreir.com
www.coreir.com
SIMI VALLEY, August 24, 2018 /PRNewswire/ -- Airborne Wireless Network (“Airborne Wireless” or the “Company”) (OTCQB:ABWN) today announced that it is effecting a 30,000-to-1 reverse stock split. .....
As of August 24, 2018, the Company had outstanding unsecured convertible notes issued to a number of unrelated third parties in the aggregate principal amount of approximately $1.84 million. As previously disclosed, on May 29, 2018, the Company completed a public offering of 8,000 units, each consisting of one share of the Company’s Series A Convertible Preferred Stock and one Series 1 warrant to purchase one share of Series A Convertible Preferred Stock, one Series 2 warrant to purchase one share of Series A Convertible Preferred Stock and one Series 3 warrant to purchase one share of Series A Convertible Preferred Stock, each exercisable at an initial exercise price of $1,000 per share of Series A Convertible Preferred Stock. After giving effect to the reverse stock split, (i) 6,988 of the original 8,000 issued shares of Series A Convertible Preferred Stock have been converted into 130,656 post-split shares of common stock[color=red][/color] and (ii) 500 of the original 24,000 warrants have been exercised, resulting in aggregate proceeds of $500,000 paid to the Company.
Does this mean the guys who purchased these CPSs paid 53.5$/current post-split share ??? (6988*1000/130656)...Anybody ???
Need some assistance from the old timers here...
Can losses incurred in NEWL/NEWLF be used as a casualty or theft loss deductible using Form 4684 ? Does anyone know if this has been done by any investor in NEWL ?
If you have any memory that this subject has been addressed on this board, can you please point me to the relevant posts ? Thanks.
See below a reference I have successfully used to claim such a loss for two stocks in the recent past...USXP and LLEL
http://www.floridabar.org/DIVCOM/JN/JNJournal01.nsf/c0d731e03de9828d852574580042ae7a/5c1b563d60425a978525769b00672304!OpenDocument&Highlight=0,*
The Florida Bar Journal (January, 2010 Volume 84, No. 1)
Can an Investment Become a Theft for Tax Purposes?
by Jeffrey P. Coleman and Jennifer Newsom
In this article, it states under “The Use of the IRS’s Safe Harbor for “Theft Loss” Treatment for Losses Resulting from Ponzi Schemes”
“On March 17, 2009, the IRS issued Revenue Procedure 2009-20,29 creating an optional “safe harbor” for treatment of certain investment losses as “theft losses” (think Madoff). Under this procedure, if the taxpayer elects the safe harbor, a “theft loss” is deemed to occur. The deemed theft loss, called a “qualified loss,” occurs when a taxpayer has invested in a “specified fraudulent arrangement” and one or more of the perpetrators has been criminally charged with one or more crimes that would meet the definition of “theft” for purposes of I.R.C. §165, provided certain other conditions are satisfied. This safe harbor treatment is available to losses for which the “discovery year,” as specifically defined in the procedure, is 2008 or later.
Also, under “Establishing the Loss as a “Qualified Loss”
First, to utilize the safe harbor, the taxpayer must have invested in a “specified fraudulent arrangement.” A specified fraudulent arrangement is, generally speaking, a Ponzi scheme.30
Second, to utilize the safe harbor, one or more of the perpetrators must have been charged, criminally, by indictment, information, or complaint (not withdrawn or dismissed) under state or federal law. The criminal charges, as previously mentioned, must constitute “theft” under the law of the jurisdiction in which the theft occurred, consistent with the existing case law governing this issue.31 Third, if the charges are by complaint (versus indictment or information), then one of the following three factors must also be present: 1) the complaint must allege an “admission by the lead figure,” or 2) a receiver or trustee must have been appointed for the specified fraudulent arrangement, or 3) the assets of the specified fraudulent arrangement must have been frozen.32