I love it when things work out!
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Thanks. Doesn't seem like the most prudent course, but I suppose they gotta do what they gotta do.
The increase in the number of outstanding shares is sad.
Recent 10K and last couple 10Qs from 2919 showed pretty steady 179 million... 181 million.
10K March 9, 2020. 181,347,218
10Q May 11, 2020. 186,857,749
Current Outstanding as of today (7/29/2020) 226,947,257
Anyone know the extent or size of the "death spiral" financing that's putting all these shares into the market... When we might it be done or close to being done??
Or why management thought additional capital was so essential that it was worth diluting the company so badly?
This stock is acting like a rock star. There seems consistent push down, but it keeps having consistent support.
Still relatively small number of shares in the public float... I think there's a good chance this continues updated momentum.
If Congress passes the stimulus- infrastructure bill and it's all over.
I've been pretty tapped out, but I have as well, when I've had funds available.
Hey Televet!
It's been fun seeing this move up!
My guess is that the higher volumes we've been seeing will eventually translate into higher prices.
Oh... one more thing... The last filling mentioned that they had funding lined up through the second quarter, which was June 30th, so I was expecting we would have heard something by now.
And so we wait. Also FWIW, I would think if the company evolves into bone cancer company, it would make sense to spin off the compost/ soil fertilizer company, but who knows?
Hoping for the best.
I'm not so sure about dilution being much of an issue here.
A fair amount is the selling has been disgruntled shareholders giving up and being worried about the shareholder approved reverse split and increased Authorized Shares.
I do think it's a bit is a lotto pick as we wait to hear how things shaker out. I'm fairly confident things are still being negotiated... and that the company remains in transition until things are settled going forward. The prospective cancer drug will need funding, but how much will it cost the shareholders?
I am hoping that from current levels any reverse will be fairly safe, earlier higher priced (5-15 cents) will take some company success to come our whole ... but like so many things... Who knows??
I agree. I think AREC has the underpennings to be a gigantic winner... especially if we see the infrastructure bill approved.
Traders are gonna trade and investors are going too invest. Traders like Bonehead are good for the maket, they provide liquidity... but it's a high stress game.
Indeed... Huge volume and huge price movement!!
Who knows for sure, but looks like Institutional client buying and support.
Now it's traded as high as $2.24.
Interesting.
Wondering if it was a somewhat foolish market order, or an indication that someone is expecting immanent news?
Surprising open for Fortem... Traded as high as $1.24...
Sounds like they're pretty serious.
I wonder if this accounts for what appears to be AREC's Institutional support?
I think AREC is positioned to rock and roll over the next year and several years. When the demand for metallurgical coal starts growing, AREC will begin producing.
I think the play here is longer-term and a pretty safe bet. If the Infrastructure bill is passed, it will rely on American-made high-quality steel. And that can't be made without the type of coal AREC will be supplying.
If US infrastructure rebuilding leads to a worldwide infrastructure rebuilding we will be off to the races for the next decade.
In my estimation, it is this hope that is supporting and feeding the institutional support upholding the share price.
NEWS 6/18/2020 American Resources Corporation Reports First Quarter 2020 Financial Results and Provides Business Outlook
**Company prepared to rapidly emerge as leading infrastructure company solely focused on mining metallurgical carbon used in the steelmaking process
**Company well-positioned to be a long-term supplier of raw material to the global infrastructure market while bringing a more efficient and modernized business model to the industry
Strategic steps taken to transform
**Company into infrastructure company producing pure metallurgical carbon, while enhancing environmental, social and governance (ESG) profile
**Company expects multiple value-driving milestones over the course of 2020
I think AREC is positioned to be one of the main suppliers of high quality steel for the upcoming rebuilding is American infrastructure.
If or when that bill is passed, I think AREC's future success will be virtually guaranteed.
The Future is looking bright for AREC.
https://finance.yahoo.com/news/american-resources-corporation-present-virtual-123000146.html
It will be interesting to see who they get to sign up.
It's clear that AREC has some pretty big plans...
1. They estimate the asset value of their mines to be upwards of $375 Million.
2. They also mention in passing that they think their revenues are scalable and able to grow to Billions in the next 5 to 10 years.
If that's right... I think that reflects a Book Value value of $13.00 per share... and a potential Enterprise Value of far more.
Mostly, just my opinion.
NEW TO AREC? Check out this PP to see why things are looking up.
https://uploads-ssl.webflow.com/5aafef3a67150adc031ae667/5eb3f6d804ebab64220dd206_AREC_Investor%20Presentation_May%202020.pdf
Agreed. There certainly seems to be a building of expectations.
Hoping we continue to see both increasing volume and price.
It's just speculation at this point... but the stock looks pretty thin between here and a dime.
If the company manages to pull off an acquisition or merger I think we will be off to the races.
Oh for the day we look back and say, "Remember when this stock was trading below a nickel?"
Just saying. I'm ready!
PRESS RELEASE APRIL 15, 2020 American Resources Corporation to Present at the April 2020 Virtual Investor Summit
Presentation with live audio webcast on Wednesday, April 22 at 2:00 PM ET, immediately followed by an interactive Q&A session
FISHERS, IN / ACCESSWIRE / April 15, 2020 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a supplier of raw materials to the rapidly growing global infrastructure marketplace with a primary focus on the extraction, processing and distribution of metallurgical carbon to the steel and specialty metals industries, today announced that Mark Jensen, Chairman and CEO of American Resources Corporation, will present at the April 2020 Virtual Investor Summit on Wednesday, April 22, 2020 at 2:00 PM ET.
A live audio webcast of the presentation will be available on the Investors section of the Company's website (americanresourcescorp.com). Immediately following the presentation, management will participate in an interactive Q&A session with interested parties, allowing participants to type in questions and receive live responses. A webcast replay will be available two hours following the live presentation and will be accessible for one year.
To schedule a one-on-one call with management, please contact the conference at info@virtualinvestorsummit.com and for more information, please visit virtualinvestorsummit.com.
About Virtual Investor Summit
The Virtual Investor Summit is an online platform that offers both public and private companies, across multiple industries the ability to stay active and engaged with the investment community. Our inaugural summit on April 22-23, 2020 will feature company webcast presentations followed by a virtual, interactive Q&A session, allowing participants to type in questions and receive live responses. Interested participants also have the ability to request one-on-one calls with a featured company. For more information, please visit virtualinvestorsummit.com.
About American Resources Corporation
American Resources Corporation is a supplier of high-quality raw materials to the rapidly growing global infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure market while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
PR Contact:
Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
AREC@jtcir.com
Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
Vice President of Corporate Finance and Communications
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
View source version on accesswire.com:
https://www.accesswire.com/585074/American-Resources-Corporation-to-Present-at-the-April-2020-Virtual-Investor-Summit
© Copyright 2020 ACCESSWIRE. All Rights Reserved.
https://www.otcmarkets.com/stock/AREC/news/story?e&id=1576231
May 13, 2020 PRESS RELEASE American Resources Strengthens Balance Sheet and Capital Structure with Divestiture of Idle Assets and Strategically Positions for Accretive Growth
Strategic divestiture of idle assets and environmental liabilities outside of five-year plan significantly reduces liabilities, holding costs and shares outstanding
Company extinguishes $2 million note associated with the original asset purchase and receives back 2,000,000 shares of its Class A common stock
Company pioneering a more nimble, efficient and modernized business model for the infrastructure industry and positioning for long-term exponential growth
FISHERS, IN / ACCESSWIRE / May 13, 2020 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a supplier of raw materials to the rapidly growing global infrastructure marketplace with a primary focus on the extraction, processing, transportation and distribution of metallurgical carbon to the steel and specialty metals industries, today announced the divestiture of certain surface and mineral acres located near Phelps, Kentucky. American Resources acquired these assets in February 2019, prior to the acquisition of other assets considered to be more core to the Company's near and intermediate term growth plans. This strategic divestiture of these idle assets and environmental liabilities outside of the Company's five-year business plan significantly reduces liabilities, holding costs and shares outstanding.
Consideration for the assets being sold is the extinguishment of the entire $2,000,000 note associated with the original asset purchase and American Resources receiving back 2,000,000 shares of its Class A common stock. Additionally, American Resources will be removing over $2.6 million of associated reclamation liabilities (asset retirement obligations) from its balance sheet. The reduction of liabilities and holding costs will enable the Company to further enhance the flexibility of its focused supply base in anticipation of worldwide infrastructure related demand. Given the current dynamics in the market over the next six to twelve months, the Company remains focused on driving its organic growth business model along with other strategic, attractively priced opportunities to maximize return to shareholders and strengthen the Company.
Mark Jensen, Chairman and CEO of American Resources Corporation commented, "We're very pleased with the outcome of the divestiture of this idle and non-core property. Having the additional flexibility and resources as a result of this strategic divestiture will enable us to better focus on maximizing opportunities for accretive grown and cash flows in the near-term, while continuing to work with our industry partners on opportunities that have a longer-term horizon."
American Resources Corporation continues to focus on its growth objective by efficiently leveraging its large number of core mining permits and through identifying strategic, supplemental acquisitions. The Company is committed to being one of the lowest cost operators in the Central Appalachian basin (CAPP) and throughout all its carbon mining, processing, and transportation operations.
About American Resources Corporation
American Resources Corporation is a supplier of high-quality raw materials to the rapidly growing global infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure market while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
PR Contact:
Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
AREC@jtcir.com
Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
Vice President of Corporate Finance and Communications
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
May 13, 2020 PRESS RELEASE American Resources Strengthens Balance Sheet and Capital Structure with Divestiture of Idle Assets and Strategically Positions for Accretive Growth
Strategic divestiture of idle assets and environmental liabilities outside of five-year plan significantly reduces liabilities, holding costs and shares outstanding
Company extinguishes $2 million note associated with the original asset purchase and receives back 2,000,000 shares of its Class A common stock
Company pioneering a more nimble, efficient and modernized business model for the infrastructure industry and positioning for long-term exponential growth
FISHERS, IN / ACCESSWIRE / May 13, 2020 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a supplier of raw materials to the rapidly growing global infrastructure marketplace with a primary focus on the extraction, processing, transportation and distribution of metallurgical carbon to the steel and specialty metals industries, today announced the divestiture of certain surface and mineral acres located near Phelps, Kentucky. American Resources acquired these assets in February 2019, prior to the acquisition of other assets considered to be more core to the Company's near and intermediate term growth plans. This strategic divestiture of these idle assets and environmental liabilities outside of the Company's five-year business plan significantly reduces liabilities, holding costs and shares outstanding.
Consideration for the assets being sold is the extinguishment of the entire $2,000,000 note associated with the original asset purchase and American Resources receiving back 2,000,000 shares of its Class A common stock. Additionally, American Resources will be removing over $2.6 million of associated reclamation liabilities (asset retirement obligations) from its balance sheet. The reduction of liabilities and holding costs will enable the Company to further enhance the flexibility of its focused supply base in anticipation of worldwide infrastructure related demand. Given the current dynamics in the market over the next six to twelve months, the Company remains focused on driving its organic growth business model along with other strategic, attractively priced opportunities to maximize return to shareholders and strengthen the Company.
Mark Jensen, Chairman and CEO of American Resources Corporation commented, "We're very pleased with the outcome of the divestiture of this idle and non-core property. Having the additional flexibility and resources as a result of this strategic divestiture will enable us to better focus on maximizing opportunities for accretive grown and cash flows in the near-term, while continuing to work with our industry partners on opportunities that have a longer-term horizon."
American Resources Corporation continues to focus on its growth objective by efficiently leveraging its large number of core mining permits and through identifying strategic, supplemental acquisitions. The Company is committed to being one of the lowest cost operators in the Central Appalachian basin (CAPP) and throughout all its carbon mining, processing, and transportation operations.
About American Resources Corporation
American Resources Corporation is a supplier of high-quality raw materials to the rapidly growing global infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure market while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
PR Contact:
Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
AREC@jtcir.com
Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
Vice President of Corporate Finance and Communications
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
As Cintrini has been dutifully pointing out the stock chart has been pretty agonizing for any long term shareholder.
Today someone dropped 11477K shares on the bid at 36 cents and the bids fell down to 25 cents. A buyer showed up at 51 for a couple thousand.
I'm not sure when, but I'm guessing this ship will turn around and begin heading upward at some point.
What might be the possible sparks to begin such a turn?
1. Lifting of the CTO.
2. Announcing the completion of a capital raise.
3. News that demonstrates the company's assets are and will continue generating revenue.
4. ?
5. ?
Additional comments welcome.
It seems to me that the CTO has handicapped Fortem Resources from making the progress they would have had everything gone according to plan.
Despite being hindered on several levels, today's update shows us some of the progress that has been made.
They negotiated and if I'm reading this correctly, they have pretty well laid the groundwork to own 100% of the production from their properties in Utah and New Mexico. They will pay the cash portion of their purchases with a percentage of the finances they hope to raise to develop their assets.
ALSO referenced is the continued progress to provide fully audited finances for the current fiscal year.
CORPORATE UPDATE 5/26/2020
Fortem Resources Inc. Provides Corporate Update
VANCOUVER, British Columbia, May 26, 2020 (GLOBE NEWSWIRE) -- Fortem Resources Inc. (TSXV: FTM; OTCQB: FTMR) (the “Company” or “Fortem”) would like to provide its shareholders with a general corporate update.
Company management has been working diligently and extensively with the Alberta Securities Commission (“ASC”) to process the revocation of the Cease Trade Order (“CTO”) issued by the ASC. The Company continues to respond to comments from the ASC and feels confident that it will be able to obtain a resolution to the CTO in the near future. In the meantime, the Company continues to maintain its day to day operations and is current with all its required filings. The Company is also pleased to announce that is has commenced working on the audit of its annual financial statements for the year ended February 29, 2020 and looks forward to filing these as soon as they are prepared.
Chief Operating Officer, Michael Caetano comments: “It’s been almost a year since the issuance of the CTO against the Company, which has prevented us from moving forward on various plans. Despite the unexpected turbulence brought by the CTO and current markets conditions, management of the Company continues to look towards building the Company according to plan while at the same time seeking new energy opportunities. We thank all our shareholders for their patience and understanding.”
UTAH ASSETS
On May 22, 2020, but effective as of March 1, 2017, the Company’s wholly-owned subsidiary Black Dragon Energy, LLC (“Black Dragon”) entered into a Fifth Amendment to Purchase and Sale Agreement (the “BD Amendment”), which amended the terms of the Purchase and Sale Agreement dated effective March 1, 2017 (the “BD PSA”), between WEM Dragon, LLC (“WEM”) and Black Dragon with respect to the Moenkopi Formation and has the effect of:
* postponing the payment of the remaining US$5.3M owed under the RR PSA relating to certain of its Utah property interests (Mancos Formation) until receipt of one or more financings by the Company (or certain of its subsidiaries), in which case the Company must pay 12.5% of the proceeds of each financing close until payment in full;
*extending the payment of an additional US$300,000 as the Workover Funds on or before August 1, 2020 (which Workover Funds are separate from and in addition to the cash consideration of US$5.3M);
*extending the outside date of full payment of the remaining US$5.3M to August 1, 2020;
* extending the “Obligation Deadline” for drilling obligations to August 1, 2020; and
* extending the deadline for bond replacement to August 1, 2020.
In connection with the BD Amendment, the Company entered into a Ratification of Purchase and Sale Agreement with WEM on May 22, 2020 but effective March 1, 2017, whereby the Company ratified, adopted and approved the BD Amendment.
PURCHASE AND SALE AGREEMENT - ROLLING OCK RESOURCES, LCC
On May 22, 2020, but effective as of March 1, 2017, our wholly-owned subsidiary Rolling Rock Resources, LLC (“Rolling Rock”) entered into a Sixth Amendment to Purchase and Sale Agreement (the “RR Amendment”), which amended the terms of the Purchase and Sale Agreement dated effective March 1, 2017 (the “RR PSA” and, together with the BD PSA, the “Purchase Agreements”), between Rockies Standard Oil Company, LLC (“RSOC”) and Rolling Rock with respect to the Mancos Formation and has the effect of:
*postponing the payment of the remaining US$5.3M owed under the RR PSA relating to certain of its Utah property interests (Mancos Formation) until receipt of one or more financings by the Company (or certain of its subsidiaries), in which case the Company must pay 12.5% of the proceeds of each financing close until payment in full;
*extending the payment of an additional US$300,000 as the Workover Funds on or before August 1, 2020 (which Workover Funds are separate from and in addition to the cash consideration of US$5.3M);
*extending the outside date of full payment of the remaining US$5.3M to August 1, 2020;
*extending the “Obligation Deadline” for drilling obligations to August 1, 2020; and
*extending the deadline for bond replacement to August 1, 2020.
In connection with the RR Amendment, the Company entered into a Ratification of Purchase and Sale Agreement with RSOC on May 22, 2020 but effective March 1, 2017, whereby the Company ratified, adopted and approved the RR Amendment.
COVID-19
During these unprecedented times, management of the Company has taken actions to minimize the risks imposed by the novel strain of coronavirus, COVID-19, for both employees and people interacting with the Company’s programs and activities. Although there are no known or suspected cases of the virus reported at any of the Company’s workplaces in Canada or USA, Fortem is following government health protocols and is closely monitoring its activities. Fortem has implemented a formal work from home protocol until it is safe to return to its workplaces.
About Fortem Resources Inc.
Fortem is a Nevada oil and gas corporation, which holds properties in Alberta and Utah. The Company is engaged in the exploration, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and Utah in the United States. The Company is seeking North American and International expansion through an acquisition strategy.
For further information about Fortem, please visit the company website at www.fortemresources.com or email info@fortemresources.com.
On behalf of the Board of Directors,
FORTEM RESOURCES INC.
“Michael Caetano”
Michael Caetano
Chief Operating Officer
Tel: (403) 241-8912
https://www.otcmarkets.com/stock/FTMR/news/Fortem-Resources-Inc-Provides-Corporate-Update?id=263021
PROPOSED: NEW STRATEGIC PLAN FOR 2020.
"In January 2020, our Board of Directors authorized a strategic plan for 2020 which is comprised of: (1) securing new technologies and business opportunities in the broader biosciences sector, including both human and soil health; and (2) significantly reducing debt and liabilities of the Company and eliminating under-performing assets and agreements. The successful results of these actions are intended to attract new capital to fund long term growth opportunities for the Company; however, there is no guaranty that we will be successful in implementing this plan."
The previous post is my summary of the details of this plan.
The Concluding paragraph states:
"To continue operations in 2020, we will need to raise additional capital for the Company. We have a verbal commitment with the primary investor of EPH that they will continue to provide funding to the Company either as Bridge Notes, other Q2 securities, or advances on management fees, to maintain our operations through at least the end of the second quarter of 2020; however, we do not have any formal written agreement and there can be no guarantee that this investor will continue to fund our operations in the future. While we are cautiously optimistic that we will have funding to maintain our current operations and advance our business plan, management cannot guarantee that additional financing can be completed on terms acceptable to the Company, if at all."
"Cautiously optimistic" has at least a measure of optimism. We shall see how things get negotiated and worked out.
Thoughts on the recent 10-Q
It's clear the company is in a bit of a pickle. It has debt it is not able to service and convertible debt that at current levels would heavily dilute current shareholders.
Besides this, by the company's own assessment is own assessment continuing in its present course is not sustainable. On page 24 the company says as much:
"As of March 31, 2020, approximately $1,068,152 of the original issuance principal amount of the Bridge Notes matured. The Company has received extensions of the maturity date from all of these holders until June 15, 2020 for no additional consideration. Management is working on a plan to repay or convert into equity these and the other Bridge Notes by their respective maturity dates, as discussed above. Any equity conversion would be highly dilutive to our current shareholders. If we cannot repay these obligations or otherwise come to agreement with the holders, our ability to operate will be materially adversely affected, if not completely shut down and the Company may be forced to seek bankruptcy protection."
THE PROPOSED WAY FORWARD... Includes the medical technology subsidiary QSAM, and the novel bone cancer drug. On Page 23 it is stated:
"We believe there is a path forward that includes transferring the ABS licensed technology we control related to our compost and soil business to EPH in return for a forgiveness of approximately $1 million in loans as of the end of the second quarter of 2020, as well as redemption and retirement in full of approximately $4 million of Bridge Notes principal and interest. It is expected that EPH would receive in consideration for the funds required to complete this Bridge Note repayment a preferred stock equity that is structured to limit dilution to our common stockholders."
SO WHERE ARE THINGS AT??? (Page 24 of 10-Q)
"While the details of this strategic plan have not been finalized, we are in discussions with all of the stakeholders required to accomplish it. The results of the successful completion of this plan, for which there is no guaranty, could mean a stronger balance sheet and the infusion of new capital to pursue this novel pharmaceutical opportunity. While a transition into this new business line is a departure from our current compost and soil operations, which are not financially sustainable for the Company in its current condition and would be continued by EPH if the plan is completed, management believes that the path to creating shareholder value is more visible and probable if we can complete these corporate actions in 2020."
So... from what I can gather, there are no guarantee that things will work out, but there's the possibility that there will be a positive outcome for all involved.
At this point, we will have to see if all parties can work together to ensure the survival and eventual success of the company. It sounds like we should know what the way forward will look like by the middle to end of June.
Correcto. It was released after the close.
Read through it. More belt tightening... not much happening business plan-wise.
Similar or same sentence...
"The Company also plans to diversify, through acquisition or otherwise, in other unrelated business areas and is exploring opportunities to do so."
This is what I'm hoping for. I think it's the answer to why the company is continuing to exist... and keep it's filings up to date.
We shall see... eventually. Best to all.
All I know for sure is that it has been pretty tough to endure.
There were days when my account was deep into six-figure profits. Not so much anymore. :(
From what I've gathered from the financials and other intel, the CTO is at the point where it should be lifted almost any day (but it's been at this point for a while). There is no doubt that it has really kept the company from accessing investment capital and from carrying out its business development.
Add to this the COVID collapse of the economy and in particular the oil and gas industry, I would say FTMR has had a weather a pretty major storm.
HOWEVER, as the company has yet to access substantial investment capital and initiate the development of its properties, the cost of such development has probably come down substantially. This might be me looking for a silver lining to this cloud, but being a contrarian is pretty much who I am.
It's clear the timeline for monetizing this investment has certainly been extended. But assuming the US and world economy return to normal at some point, oil and gas will recover... and the projections of the companies PP presentation will at some point be realized.
http://www.fortemresources.com/wp-content/uploads/2019/05/Fortem-Corporate-Presentation-v8-05142019.pdf
One would think that once the company puts the accounting and subsequent regulatory issues behind it, we will see the stock price stabilize start trending up. The company has been quite disciplined in the number of shares it has issued. I'd have to go look, but I don't think the outstanding shares has changed much over the last 2 to 3 years.
Well... I guess we'll have to see what the future holds.
Not disputing that point. ??
With just a little research you can see on otcmarkets.com be there's only
Outstanding Shares
8,431,482
04/30/2020
Held at DTC (basically Float)
1,728,157
04/30/2020
https://www.otcmarkets.com/stock/FDBL/security
There's no way to know for sure. But we're hoping to hear that the company is going to be getting its act together in the next weeks or months.
There are a couple scenarios that could be quite good for investors. As I understand it the SEC issue is now behind us and the future will be whatever the company and management can make it. Apparently, management and insiders believe there will eventually be a substantial reward
The latest filings, like the previous ones, spoke of following an acquisition strategy... of merging established and/or prospective companies into SPYR. They also mentioned taking the company in a completely new direction... I assume that means in a direction away from software gaming sector.
The possible end game is what has kept me around. If the company was going to go defunct, they would have let it do so long ago. Why keep it's filings current for all this time? Why spend millions of dollars doing this if there was going to be no hope of recovering those expenses?
I guess this is basically an argument from common sense. Could I be wrong,? Sure, but the way the stock had been trading there are others whose interest is piqued.
It could easily be that if and when some substantial news is released, will be looking at dimes and quarters before you know it.
Agreed. I found the mini-run to 3.5 cents encouraging. I really don't think there's been many shares available at these levels. I've also wondered what will become of the
We're still waiting for details on any cash infusion and at what price it will take place options and warrants once the reverse split is completed.
I could be wrong, but it looks to me like there are not many shares available for less than 2 cents.
Until we go, I think it's too soon to call one way or the other. There could be some higher ground ahead, or we could flounder at these levels.
It's been fun watching this trade the last few days.
Big bids and bigger underlying bids.
Solid volume and increasing share price.
Not sure we could ask for more at this point.
1.648 Million Shares traded today.
Fairly small float... just under 18 million shares and there's only 52 million shares outstanding.
We're expecting financing to come into the company, the only questions are how much and at what price?
As we receive color on all this, this could get interesting.
News 4/28/2020 Q2Earth’s Bioscience Subsidiary, QSAM Therapeutics, Signs License for Promising Drug to Treat Bone Cancer.
Palm Beach, FL, April 28, 2020 (GLOBE NEWSWIRE) -- Q2Earth, Inc. (OTCQB: QPWR) (the “Company” or “Q2”) announced today that its wholly-owned subsidiary, QSAM Therapeutics Inc. (“QSAM”), has signed a Patent and Technology License Agreement and Trademark Assignment with IGL Pharma, Inc. (“IGL”).
The License Agreement provides QSAM with exclusive, worldwide and sub-licensable rights for up to 20 years to all of IGL’s patents, product data and knowhow with respect to Samaium-153 DOTMP (the “Technology”), a clinical stage novel radiopharmaceutical meant to treat different types of bone cancer and related diseases. The Technology was originally developed by IGL’s affiliated company ISO Therapeutics Group, LLC (“ISO”) whose founders created Quadramet® (Samarium-153-EDTMP), one of the first commercial radiopharmaceuticals. The License Agreement also provides QSAM a first right of refusal for other IGL/ISO technologies.
Initial indications for Samarium-153 DOTMP include bone marrow ablation, a pre-transplant procedure used to treat various diseases including cancer, immune system disorders and blood diseases including sickle cell disease. According to the U.S. Health Resources & Services Administration, approximately 23,000 transplant procedures were performed in 2018, representing a market in the United States of over $1 Billion per year. Other important indications for the Technology include pediatric osteosarcoma, a devastating form of bone cancer afflicting children, adult osteosarcoma, as well as a broader market in metastasized adult and pediatric bone cancers.
Douglas Baum, a Director of the Company who has been named President and CEO of the subsidiary QSAM, stated: “We thank the IGL and ISO team for entrusting us to advance their novel technology to commercialization. We believe we will be able to enter clinical trials this year and, in short order, demonstrate the efficacy and safety of this radiopharmaceutical.”
“For Q2 shareholders, our license with IGL is an important milestone in our 2020 strategic plan which includes securing new technologies in the broader biosciences sector. This licensed technology provides a foundation to bring in new capital and reduce our current debt burden, which may include an investment and purchase of assets and contracts by our affiliated company, Earth Property Holdings. Our goal is to advance this plan in the coming months,” continued Mr. Baum, a senior executive with over 28 years of experience in biosciences and drug and medical device commercialization.
About QSAM: QSAM Therapeutics Inc., a newly formed subsidiary of Q2Earth, holds the worldwide license for Samaium-153 DOTMP, a clinical stage novel radiopharmaceutical meant to treat different types of bone cancer and related diseases. This technology uses low specific activity Samarium-153 (resulting in far less europium) and DOTMP, a chelator which is believed to eliminate off-target migration and targets high bone turn over making it an ideal agent to treat osteosarcoma, bone metastases and to perform bone marrow ablation. Sm-153 DOTMP has been cleared by the FDA under an investigator initiated IND to commence human dosing of cancer patients.
About Q2Earth: Q2Earth currently manages compost and soil manufacturing facilities, and holds a license for an all-natural soil health supplement called ABS. The Company is pursuing additional licensing opportunities in biotech and biosciences that will expand its intellectual property portfolio and create new business opportunities.
https://www.otcmarkets.com/stock/QPWR/news/Q2Earths-Bioscience-Subsidiary-QSAM-Therapeutics-Signs-License-for-Promising-Drug-to-Treat-Bone-Cancer?id=260331
I wouldn't be surprised either.