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Facts are never liked, nothing new here.
It´s dilution and PBYA isn´t shorted. Company issued 150m shares last 10 days. Otcmarkets was updated with additional 100m shares last week and today another approximately 50m shares. The restricted share count did not change, all shares are in the float, it´s dilution: https://www.otcmarkets.com/stock/PBYA/security
Let´s call it what it is. This company has still over $2m convertible debt left and they convert currently, see otcmarkets. It´s close to 2.8b o/s and it was 10 days ago 2.64b. Pumping into dilution is shameful especially into heavy dilution.
It´s the company and no one else who dilutes into every pr.
I don´t care about MEIL. I thought he custodianship will fail and the frontloading was a shame. I believe Sharp should not take over active corporations. I posted only my opinion here. MEIL was a lotto ticket for me. There is no reason to be happy. We don´t know what´s planned and who will manage this. In every merger shares are issued. Good luck!
No idea. Question is why 60m shares were issued and why investors were not informed. I guess MEIL has a new management. I liked it at .005-.02, so it was even with 14m o/s overvalued as long we see no business.
Transfer Agent updated share structure. 60m shares were issued.
https://www.otcmarkets.com/stock/MEIL/security
Outstanding Shares
74,294,648
05/27/2021
Restricted
60,000,000
05/27/2021
Unrestricted
14,294,648
05/27/2021
I think judge will only look at the current situation and not when RETC reinstated. It doesn´t matter why company reinstated the business license or when, what matters is now the business license is active. And the company paid the auditor or works on filings. We will see. There needs to be more than a wrong timing to take a corporation away from the management.
I hope i´m wrong, but another point is the number of holders of RETC were over 1200 2019 and George doesn´t plan to file with the SEC and cannot deregister based on 2019 info that RETC has too many holders of record and the company confirmed it in April that they cannot file form 15 because of too many holders.
If he would win, it would result probably in no filings because he cannot file form 15 which was his plan. George never files with the SEC. But i don´t believe it will come to this point. I wish you luck, but i believe he won´t win RETC!
RETC is next and EVLI also zero chance, judge focus is always the business license, this is my impression. Of course a company has to react. It wasn´t difficult being right but somehow many people had another opinion and believed focus is how long a company did not file but if there is no wrongdoing by law all what matters is Reinstatement+plan to file. It´s not easy taking a corporation away from current management. I believe George realized it. Thank you.
No surprise, he never had a case here, never would win. Because he knew he will lose, he has withdrawn it. Stupid to try it with companies with active business license. But the frontloading was probably worth it! "George is a person of the people...." We have seen it! His followers lost a lot money because of his stupid action, but sure he is a person of the people!
Company confirmed RETC doesn´t qualify for Form 15 in April 8k, company knows the number of holders and in August 2019 RETC had over 1200 holders.
You see the interest, volume, over 4 billion outstanding shares, so it´s likely it doesn´t have suddenly fewer than 300 holders. Not difficult to see.
We all know there are no current filings and TA is gagged, so how could i show the current holders? But i guess we have all eyes and common sense.
He never filed with the SEC for TSNP. The point is RETC doesn´t qualify for Form 15, it has too many holders and George believes he can file Form 15 and then continue with otcmarkets statements.
He never had the plan to file with the SEC for RETC but RETC can only file with the SEC. This results in no filings if George would win. No filings will result in a suspension.
But he won´t win. I highly doubt it, so it doesn´t matter but the whole case makes no sense. He fights for something he cannot use because SEC filings are required and he never files with the SEC.
Company has no reason to lie. If company could file form 15 this would be the first thing company would do. RETC could be suspended because of delinquent status and company has notes to pay.
Alternative reporting costs only few k per year. Of course it would be the first choice to deregister, but RETC cannot!
RETC always had many holders of Record, over 1200 holders 2019, it doesn´t change so extreme that you could believe it would be fewer than 300. This is really wishful thinking.
Someone should tell George about it, because what is the sense of the case if he has no plan to file with the SEC but cannot deregister?
The company made already clear RETC doesn´t qualify for Form 15. The company knows how many holders of record RETC has. So George was not informed and it seems his follower also did not know which is ok, if they then realize it and not spin it in another direction. ;)
He is clueless. If he would win, he would never file because of it. Sharp doesn´t spend money for SEC filings. So the best case is the company wins because with Sharp stock would end suspended because of no filings.
No, wrong. There are requirements regarding assets and holder of record. Some companies cannot file form 15.
"A company must have fewer than 300 shareholders to be eligible to file Form 15."
https://www.investopedia.com/terms/s/sec-form-15.asp#:~:text=SEC%20Form%2015%20notifies%20the,eligible%20to%20file%20Form%2015.
The company said they don´t qualify to file form 15. How could George file form 15 and then to file otcmarkets statements if the company doesn´t qualify? RETC has probably too many holders:
"We don’t qualify for a Form 15 filing so we could not do alternative filings with OTC markets." This was in company´s 8k.
https://www.sec.gov/Archives/edgar/data/1627611/000149315221007705/form8-k.htm
George plans to file form 15 to deregister and then to file otcmarkets statements. He never planned to file with the SEC. But RETC i believe cannot deregister.
A company that goes to court to fight for MEIL had either way the plan to file. Maybe with other companies there are other reasons like convertible debt, but here it was always planned to file someday. George only created bagholder with frontloading the stock and additional is responsible for unnecessary fees for lawyers. No one needs him here.
lol, well said!
Please, to be honest i really give a shit about the stupid conversation here. ;)
You were interviewed. Who interviewed you? It doesn´t matter but i believe this wasn´t a good experience in your life and you don´t need it again. Maybe you don´t care. But i would be careful after it.
I don´t want to comment about your video. But you know accusing a company of these things can bring you in deep trouble, you should be careful.
There is no hint or no sign the company did something wrong. This is really only wild speculation because you don´t know what happened after the sale of assets with the money and you hope George has seen something which makes the custodianship possible.
There are many other companies which deregistered and sold assets and not many would do anything illegal, especially not previous nasdaq companies who know exactly what´s right and wrong.
Let´s wait for filings, i think it will be all explained.
PROBLEMS WITH KEYBOARD??????
"Wild speculation and deep diving research are what i do best."
Wild speculation - yes i agree, deep diving research - not really. ;)
Just because this is the interenet gives you all no right to accuse the company of criminal things! I would be very careful...
These emergency petitions are indeed handled different. I doubt any case against a public corporation was dismissed in the first place. They allow them fast and then look later close at it. Don´t forget it was filed a week ago.
Your wild speculation doesn´t make sense to me. Before you accuse the company of wrongdoing, maybe you should wait for filings and then you have your answer.
BMBM took also 5 years until they released a new business and another 2 year until the merger was finalized. And investors are very happy there and no one insulted the company. Good things can take time!
Just because the case wasn´t dismissed doesn´t mean there is a case. These emergency custodianships are handled different than regular custodianships.
I doubt the judge looked close at it. The judge allowed the case but now the company responds.
What is the sense of a custodianship? To take over abandoned shells without plan, without business license or/and to protect investors of wrongdoing. It doesn´t fit to MEIL. George i believe used the new SEC rules as reason to file the petition.
I think it will be fast decision, because there is no wrongdoing, the company has an active business license and a plan to file and they are there to fight for what they own. There is nothing which would explain to take an active corporation away from current management.
We can agree to disagree. You can wait for the decision if you think it´s an open case with unknown outcome. For me it´s very clear how it will be decided.
But these emergency custodianships are nothing we have a track record for, company reacted as fast as possible. Not sure how this wasn´t fast enough. But we will see if this makes it more complicated or not. I don´t know, but for me it would make no sense if there is no reasonable timeframe given.
I´m sure he has no case. I heard all what matters is an active business license, no wrongdoing by law and plan to file.
And not how long a company did not file or who creates more shareholder value or when did they suddenly file and what the reason is for starting the filing process.. This is all meaningless in my opinion!
I looked at other custodianships, and it was always about reinstatement + plan to file and the ones i looked at had no business, they talked about negotiations for a potential merger and this was enough.
And some did not even file after it. I believe it´s very difficult to take an active corporation from the current management away without wrongdoing if the company responds and promises filings.
Do you know cases where this happened? I would be very interested to educate myself and i have no problem to say if i´m wrong. But the ones i found where exactly how i described it here.
George filed this emergency custodianship where the company had not even time to respond. So the preliminary ruling i´m not sure if it´s under these condititions that important. George only got it because there was no time.
We will see, i don´t believe it´s 50/50, i believe there is no case.
I suggest to wait for the decision instead of 100 wishful thinking posts without common sense and no understanding of the situation and blind hope company did something wrong.
You don´t need to be a lawyer to see that this case has no base. From day 1 George´s only hope was that the company doesn´t react.
Past doesn´t matter. What matters is the business license is active since 8 months and company works on filings and has a plan for the future.
There is no base to file for custodianship with companies which have an active business license and without any wrongdoing and plan to file.
The wrongdoing you see is no wrongdoing by law. They sold assets, company filed form 15 to reduce costs and NVSOS is active since 8 months. They took their time to look for a new business, something many companies do. And now they work on the future and on filings.
What is the base to file for custodianship with active corporations? Again the things which make it possible don´t fit to MEIL.
Why should a judge decide for George when the company has an active business license and plans to file? This robbery of an active corporation is very unlikely under these circumstances.
Nothing is easier than otc market statements and the focus is still the business license. No wrongdoing, no case here! You hope they did something wrong with the cash they got after selling assets, but it´s again blind hope! This was a Nasdaq company and they know exactly what´s right and wrong!
Judge would think that way if the license would be revoked or if there is any wrongdoing, but it´s active. So the case should not even exist. This is the point you are missing.
They paid their fees and now they contest and have a plan to file. That´s all a judge needs to know.
The exception when a shareholder can file for custodianship, see below doesn´t fit to MEIL case. On paper MEIL has done nothing wrong and the business license is active and this results in an easy decision for the company. George should never file for custodianship.
What is the base that you think a judge would take the active corporation away from the company?
What of these two requirements that a shareholder can file for custodianship applies to MEIL?
(a) The business of the corporation is suffering or is threatened with irreparable injury because the directors are so divided respecting the management of the affairs of the corporation that a required vote for action by the board of directors cannot be obtained and the stockholders are unable to terminate this division; or
(b) The corporation has abandoned its business and has failed within a reasonable time to take steps to dissolve, liquidate or distribute its assets in accordance with this chapter.
Company contests, has an active business license (the base that there should not be a custodianship, i know the Nevada Code, there is no wrongdoing), it´s allowed to take time to look for a business after selling assets and has additional a plan to file.
I cannot help these naive thoughts here and no existing common sense. This is a very clear Situation which should not even exist! George knows he will lose, this was the reason for his tweet about contested custodianships.
I understand your frustration, you should blame George and it´s still possible to discuss in a respectful way. So far I was with everything right and you were with everything wrong and i know it won´t change because this case should not even exist. This is only common sense!
I looked at other custodianships. Judge focus is the business license and the license is active and if the company did something wrong. So a plan to file is enough. Judge won´t analyze George business plan and then compares it to company´s plan and decides for the one which creates more shareholder value. This is what you hope, i read this nonsense here, but it´s not how it works!
Judge sees the company did nothing wrong, the license is active and there is a plan to file. If you don´t see, then you will see it soon! There is no case. No one has any right to steal active corporations!
Shareholders are fine. Who is not fine are people who followed George after he frontloaded the stock and hoped for a pump and dump.
A judge will look at the business license for the public listing, it´s active and then Methes will promise to file with otcmarkets. That´s it.
It´s allowed to be a shell stock, but i guess management will say something about a plan. The case is very easy, only filings are needed and statements with otc markets are very cheap and not complicated. Company only has to promise financial statements. There is no wrongdoing!
Thanks Sam. Noticed the tweet and $MEIL was in the tweet, he knew already it will be contested in this moment. He has for everything excuses. Who knows why he picked these stocks without chance or very limited chance to win.
Ask George, it appears that MEIL added defense lawyers and contests the custodianship.
George knew, this is the reason why he added $MEIL, $RETC and $WRIT in todays tweet about contested custodianships:
About contested custos. This is not a bad thing because it means that the corp will be reinstated whether I am awarded custo or not. I understand that most would prefer if I win, but at a min I force mgmt to reinstate & bring current. Not that I intend to lose $RETC $MEIL $WRIT
— George Sharp - Advocate for truth in the OTC (@GeorgeASharp) May 14, 2021
When you buy stocks at .005-.015 at a $75k-225k market cap, always have to give them some time.
And if it´s about a real business and not a typical story and a possible bigger plan it can take a very long time.
I waited 5 years for BMBM to find a merger. MEIL was a lotto ticket with little sign they maybe plan something, not more, not less.
Still could take years. All they need to do now is to release otcmarkets statements and then they have all the time they need, no matter if you like it or not! No one asked you to buy.
Should blame George, no one would file for custodianship with active corporations, active twitter...!
I said "hopefully soon" and it took a year. Is it allowed to hope for something? Why do you bring now an old post up?
Some mergers take 2 years or longer. It doesn´t matter how long something takes as long it happens.