I love it when things work out!
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
4/24/2020 8-K Out after the close. LOOKS LIKE WE now HAVE a biotech subsidiary...QSAM
http://ih.advfn.com/stock-market/USOTC/q2earth-qb-QPWR/stock-news/82305546/current-report-filing-8-k
I've not gathered much about what this is going to look like, but there will be some restructuring I'm sure.
Shareholders approved a reverse split and then there will need to be an investment capital infusion.
Probably not much of an opportunity for a quick profit, but you never know. I'm hoping that cost averaging to less than 2 cents should will put me close to whatever investment capital comes into the company. It's not as good as following big money into a startup, but in effect can be the same the same thing.
Sounds quite hopeful!!
Pretty Exciting Day for SPYR.
Apparently, word of the settlement of Joe Fiore's legal troubles is getting out.
Why? You say. It only traded 145k shares AND it closed down .0008, or 5% for the day. I think that's just fine.
1. If you look at the trades for the day 129K buys, 200 sells and 15K +/-.
2. If you were watching Level 2, you would have noticed that toward the end of the day there was a high bid for 794,701 shares.
3. Below that healthy bid was another for 500,000 more shares.
I think these big bids are wishful thinking. If these bids were someone trying to build a retail position, I think they would have slapped the offer... cause they would think what I'm thinking... who would sell shares at this point???
I could be all wet... but here's what I'm thinking we'll see:
1. Tomorrow we see an 8-K announcing the SEC Settlement.
2. Later or perhaps the same day we'll see a PR from the company adding some color to their hopes and expectations for the future.
3. In the weeks following, we'll learn "the rest of the story" regarding their plans to bring the company to profitability.
From this, it's pretty obvious that both Joe Fiori and management have significant skin "in the game." I remember hearing a long time ago that many of these shares were accounted to management and even Mr. Fiore himself, at 40 cents per share.
In addition to this, there have been multiple hundreds of thousands of dollars put in the company over the last few years to meet expenses and keep the current with its filings.
The only way that all these earlier investments and subsequent fundings get returned or returned with profit is if the company becomes something more than it is at the moment.
Another factor, I've heard that there is a significant naked short position outstanding. I don't see how it can be, but I do not doubt that there are companies that try to take advantage of negative news and events, and will at times bet on and help companies fail and go bankrupt by making funding impossible. So could there be a significant uncovered short position? Who knows. Maybe.
Well, I'm guessing this will be PR'd in the next day or two... and then we'll have to wait and see!
Oh... one other factor... see my earlier post that since the first of the year, management and insiders have been getting their Sched 3 and 4 filings up to date. Once again, Why? If this is a sinking ship why bother?
Principal Shareholders
The table below sets forth information as to each person owning of record or who was known by the Company to own beneficially more than 5% of the 199,555,131 shares of issued and outstanding Common Stock of the Company as of March 27, 2020, and information as to the ownership of the Company’s Stock by each of its directors and executive officers and by the directors and executive officers as a group. Except as otherwise indicated, all shares are owned directly, and the persons named in the table have sole voting and investment power with respect to shares shown as beneficially owned by them.
Name and Address of Beneficial Owners & Directors Nature of Ownership # of Shares Owned Percent
Joseph Fiore Common Stock 104,570,994 *52%
Tim Matula Common Stock 11,000,000 5%
James R. Thompson Common Stock 11,000,000 5%
James Mylock, Jr. Common Stock 4,760,184 2%
Jennifer Duettra Common Stock 2,000,000 1%
Barry D. Loveless Common Stock 1,800,000 1%
All Officers and Directors (5 persons) 30,560,184 15%
Here's how Security Details from OTC Markets
https://www.otcmarkets.com/stock/SPYR/security
Outstanding Shares (as of March 27, 2020) 202,130,131
Joseph Fiore 104,570,994
Management 30,560,184
My Math size of Float (33% of outstanding) 66,998,953
OTC Markets Size Float: (34% of outstanding) 68,997,831
Held in DTC 55,285,756
Yes and no. The company has probably spent that much money over the last year or two to keep the company up to date and fully reporting.
For a company, without much revenue and substantial carrying costs, the ray of hope that I've maintained over recent years is that there has to be a purpose and the plan beyond trying to eke out an existence.
You can see in my previous posts references to their looking into acquisitions and possible alternative directions to take the company.
Are these pipe dreams? Maybe. But they could also provide the historical and chronological background for what the company will do in the future.
Agreed. The last 10-K mentioned they expected that this settlement would be announced and now it has.
Renee, Thanks for sharing this release.
The 10-K, which was filed early, mentioned they expected to have the settlement announced within 90 days. To me, it's encouraging to hear that the matter has been settled and has now come to a resolution.
I don't know what's going to come next, but hopefully, in the next weeks and months, we will see the company make good on their stated intentions.
Here's you chance. Sell your shares and be gone
150K bid!
NEWS TODAY Friendable Announces Release Date of Fan Pass, its Live Streaming Video Application and Targets May 5, 2020 for Official Release
Company Calls on all Music Artists, Agents and Entertainers Across All Genres to Inquire Below, the Company Seeks Talent to Be Featured Upon its Release Date
CAMPBELL, CA, April 09, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Friendable, Inc. (OTC: FDBL), a mobile focused technology and marketing company, connecting and engaging users through two distinctly branded applications, today announces its plans to release its Fan Pass mobile application on May 5, 2020. The Company’s plans include offering artists, performers and entertainers of all kinds, the opportunity to receive an exclusive “Fan Pass Channel”, accessible to fans globally on the web, on Apple iOS and on Android platforms upon release.
Fan Pass is a full circle solution, managed by the company’s unique platform and built in feature set. Artists and entertainers simply announce an event to fans and social followers, schedule it to “Go Live” and Fan Pass will manage everything in between. Whether it’s a quick shout out or pulling off a pop-up Live Stream event, Fan Pass will connect to thousands or scale to millions of connections to support more elaborate productions or concert style Live Streaming experiences.
The Fan Pass platform also allows fans to gather virtually, communicate directly, provide feedback, purchase exclusive merchandise and even donate to a cause -- “COVID 19” for example. The company has aimed to deliver a full spectrum platform that is fully managed for all Fan Pass artists, entertainers and their fans, while adding a revenue share and monetization feature that builds recurring revenue for artists and entertainers in a way that supports today’s challenges.
"Our plans to accelerate the release of the Fan Pass application have gone better than expected and with our sights set on delivering our platform by May 1, 2020 we believe this is one of the most exciting times for Friendable, Fan Pass and our shareholders and supporters. Timing is everything and we believe there is not only a true need for the Fan Pass app and offering, but a huge market for a solution like ours,” said Robert A. Rositano, Jr., CEO, Friendable, Inc.
“We believe the recent pandemic has changed our World as we know it, in a very profound way, with entertainment, news and businesses in general, creating Live Stream and pop-up style events that continue to take center stage. These events are most often being broadcast from "Home Studios" or "Safe Places" and our Fan Pass platform, with dedicated artist channels, provides a 360° solution that should become an integrated part of every artist’s future touring strategy, Live Stream events and overall fan management for those at any stage of their career," concluded Rositano, Jr., CEO, Friendable, Inc.
THE TIME IS NOW…
PLEASE SEND EMAIL TO: mychannel@fanpasslive.com
and…TELL US MORE!
About Friendable, Inc.
Friendable, Inc. is a mobile focused technology and marketing company, connecting and engaging users through two distinctly branded applications:
The Friendable and Fan Pass Mobile Applications.
The Company initially released its flagship product Friendable, as a social application where users can create one-on-one or group-style meetups. In 2019 the Company has moved the Friendable app closer to a traditional dating application with its focus on building revenue, as well as reintroducing the brand as a non-threatening, all inclusive place where “Everything starts with Friendship”…meet, chat & date!
Fan Pass is the Company’s most recent or second app/brand, scheduled for release in 2020. Fan Pass believes in connecting Fans of their favorite celebrity or artist, to an exclusive VIP or Backstage experience, right from their smart phone or other connected devices. Fan Pass allows an artist fan base to experience something they would otherwise never have the opportunity to afford or geographically attend. The Company aims to establish both Friendable and Fan Pass as premier brands and mobile platforms that are dedicated to connecting and engaging users from anywhere around the World.
Friendable, Inc. was founded by Robert A. Rositano Jr. and Dean Rositano, two brothers with over 27 years of working together on technology related ventures.
Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected by Friendable, Inc. The iTunes rankings should not be construed as an indication in any way whatsoever of the future value of the Friendable's common stock or its present or future financial condition. The public filings of Friendable, Inc. made with the Securities and Exchange Commission may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Friendable, Inc. cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, Friendable, Inc. does not undertake, and Friendable, Inc. specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
Contact:
Friendable: Phone: (855) 473-7473 Ext. 101
Email: Info@friendable.com
www.friendable.com
Source: Friendable, Inc.
© 2020 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/FDBL/news/story?e&id=1572195
I think this credit facility basically provides the company with the liquidity and cash flow to fund there business plan going forward.
Let's go AREC!!
Hey Televet,
I had typed up a fairly extensive response but some how it got lost. :(
Anyway... I too was quite pleased that SPYR released its latest 10-K on time. The 10-K was very similar to most that I've read thought I was heartened by the following paragraph from page 8.
"Recently, the SEC and the Company have entered into a proposed agreement that, if and when approved by the full Commission, as the parties anticipate it will, resolve all of the issues asserted against the Company by the SEC without any admission of wrongdoing on the part of the Company. In anticipation of the SEC’s approval of this agreement, the U.S. District Court has agreed to stay all further proceedings for 90 days in order to afford the parties ample time to effectuate their final agreement, at which time said litigation will be formally discontinued against the Company with prejudice."
This basically means that the SEC lawsuit against our Former CEO Joseph Fiori in within weeks of being settled... "without any admission of wrongdoing".
I'm hoping that the result of this lawsuit being settled is that whatever aspirations current management has for the company will be able to take place.
My reasoning over the last year or two has been from the perspective of why? Why keep this company open and operating? We've not seen very much revenue generated by the company and its software. Could there be more if there were more marketing and advertising? Maybe... but even in the 10-K, it was clear they recognize this is a very competitive field.
So what does their future hold? We'll see. The 10-K lays out some possibilities.
Page 6 proposes the company may look in a variety of directions:
"The Company intends to utilize cash on hand, shareholder loans and other forms of financing such as the sale of additional equity and debt securities, capital leases and other credit facilities to conduct its ongoing business, and to also conduct strategic business development, marketing analysis, due diligence investigations into possible acquisitions, and software development costs and implementation of our business plans generally. The Company also plans to diversify, through acquisition or otherwise, in other unrelated business areas and is exploring opportunities to do so."
Does this mean it will happen? Not by itself, the way I've been looking at it, it does seem possible to probable that this will be the future direction of the company.
Pretty Big News or this AM.
American Resources Corporation Announces Initial Closing of Strategic Debt Refinancing
Company Closes on Initial Tranche of New Credit Facility to Refinance Existing Debt and Fund Its Continued Growth of Metallurgical Carbon Production for Steelmaking
FISHERS, IN / ACCESSWIRE / April 2, 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, is pleased to announce it has entered into an initial closing of $13.39 million credit facility comprised of $12.19 million of existing term loan and payables which will refinance existing indebtedness from the balance sheet, plus an additional $1.2 million to be used for continued production growth of metallurgical carbon. The structure enables the Company to raise up to a total of $25 million over the next 30 days unless expanded and or extended by the Company.
"We are extremely pleased with the continued support of our existing lender, business partners and new investors who have participated in this financing round. The closing of this initial tranche represents a significant milestone for us. Importantly, it positions the Company for future growth, gives us confidence and provides optionality during these volatile market conditions as consolidation opportunities are presented," stated Mark Jensen, Chairman and CEO of American Resources Corporation.
The closing of the initial tranche of this credit facility:
Extends substantial amount of senior debt for two years while maintaining a low-leveraged balance sheet;
Allows participants to convert into equity at a premium to current market prices;
Positions Company with a strong capital structure to navigate this period of economic uncertainty and enables company to be opportunistic when market conditions normalize; and
Enables the Company to capitalize on expanding worldwide infrastructure market over the next five years and beyond.
"I am proud of our team's many accomplishments over the past several months, including the restructuring our most recent......
http://irdirect.net/prviewer/release_only/id/4279554
Each of these filings are from current management catching up their ownership percentage and newly acquired share filings.
James Thompson CEO. 6,000,000 shares
Barry Loveless. CFO 1,800,000 shares
Jennifer Duettra. Exec V.P. 2,000,000 shares
Between two of these officers, they've recently reported acquiring 1,250,000 shares by exercise of options.
I don't know why, but over the last two to three months the share structure is SPYR has been cleaned up.
FORM TYPE RECEIVED PERIOD END DATE
4 03/26/2020 02/01/2020
3 03/25/2020 10/16/2015
4 03/25/2020 02/01/2020
5 03/13/2020 12/31/2019
5 03/13/2020 12/31/2019
RW 01/10/2020
https://www.otcmarkets.com/stock/SPYR/disclosure
Been following it too. Looks like institutional support to me.
I'm ready. Like you said... We have heard "stuff" before.
The only reason, I've maintained even a ray of hope is the fact that the company remains fully reporting. Why would they stay current? The only explanation that makes sense is if they have plans to actually do something at some point.
This month, next month, this quarter, next quarter, or later this year... the possibility continues to exist so long as the lights remain on and the filings continue to stay current.
We'll see if patience pays off.
Agreed. The company has huge resources and is positioning itself to provide metallurgical coal to what I believe will eventually be a world-wide unsatiable infrastructure market.
We shall see!
Another strong day for AREC. Up 8 Cents for the day or +12%.
On top of that we traded almost 240,000 shares.
All this is quite encouraging.
Was anyone watching the QPWR trade on Friday Afternoon?
I've been occasionally impressed over the last 6 months, that every now and then there would be humungous bids showing up... 300K, 600K, even 700K shares.
Well, Friday topped all these... for most of the trading day, there was a bidder for 1,300,000 shares...
More than this as the day went on, the bid was steadily creeping higher.
My question is WHY? Why would buyers or bidders be showing their hand? Maybe they were hoping someone would dump their shares, and they could catch them?
Again, who knows?
One thing we know there has been disclosed that the company acquired the right to license or obtain the rights to a new cancer drug. It's not just a speculative drug but one that has already been shown to work, now being improved and delivered in a new... more effective way.
If this is the case, there will need to be a cash infusion so that they can acquire the license OR someone else will need to put up the cash and then it would be brought into what is effectively the QPWR shell in exchange for equity. The new management would take control and then take whatever steps necessary to bring this improved drug to the market.
Any public fundraises, will almost necessarily be at higher levels... which means even our reversed share positions will need to be appreciated before the company would consider raising additional capital. PLUS after the reverse split, the company should quite move the share price to the level it desires.
Well... this is what I've been thinking anyway.
How about that surprise finish to the trading day last Friday?
I have no idea if this is the beginning of a trip to regain compliance and get over the $1.00 trading level or just an in your face to any who might be trying to push the price of the shares lower... but it was pretty aggressive.
If it was the latter I'm guessing a fair amount of capital has been spent trying to hold it down.
No one will buy up this 20,000 share offer... OOPS... no one will buy up this 40,000 share offer. OOPS, there they go.
Who knows? If the company does even 1/2 of what they projected last year, I think we're looking at a $5-10 stock by the end of the year.
If they come out and say they're going to meet or exceed their projections, bar the door, I think we could quite easily trade much higher.
Pay special attention to the timing of the last few releases.
It seems to me they are building up to something.
The Updating of their App...
The Submission of their App
The Approval of their App
The Marketing agreement for their App.
Seems to me this is all building toward something.
Maybe the next thing we will hear will be the initial RESPONSE to their App.
Then perhaps something about the Revenue being generated by their App.
Just thinking out loud.
NEWS over the last few weeks...
Friendable Focuses on Machine Learning and AI for Mobile Advertising Campaign, Choosing “LiftOff” as PartnerGlobeNewswire | 02/27/2020
Friendable Dating App Approved and Live in App StoresGlobeNewswire | 02/25/2020
Friendable Submits iOS and Android Versions of its New Dating Application for ApprovalGlobeNewswire | 02/20/2020
Friendables New Dating App Poised to Capture its Share of $2.2 Billion Spent on Dating Apps Last Year AloneNew Media Wire | 02/11/2020
New Friendable App Reaches Final Stage of Beta Testing on Both Apple iOS and Android PlatformsGlobeNewswire | 02/04/2020
Friendable to Release its Updated “Friendable Dating App” Version 7.0GlobeNewswire | 01/07/2020
Friendable Signs Amendment to Its Debt Restructuring AgreementGlobeNewswire | 12/31/2019
I don't know Buc, no matter where you're invested, it's always prudent to be wise. I've been pleasantly surprised that what I thought we formerly worthless HENC shares have appreciated in value.
I've taken out my cost and then some. Will the RM happen? Who knows? It looks promising, but serious gains and big profits have to be realized. I've missed out on some fairly big money, but I've also saved gains that would have becomeloses.
We should never our all our eggs in one basket. Murphy's law ought to make one cautious.
Exactly. It's been a primo pain in the you know what.
So what do I expect in the near and distant future?
1. Eventually, the Cease Trafe Order will be lifted. Will it be next week? Maybe? The week after? Again who knows?
2. Once the cease trade order is lifted, what will happen? Again not sure. On a certain level, we will sort of be return to our pre-Cease Trade status.
However, I would be hard pressed to think the company has not continued found what they could while the cease trade order is in place. I expect we'll hear about new developments and perhaps some additional properties beyond added.
As most of our acquisitions have been done at $2 per share, I'd be hard pressed to think the company would allow the share price to remain at current levels.
Have shared shares been issued? Sure, but they've been careful and quite restrained.
Besides the oil and gas acquisitions, the company has raised capital, it is had been a fully disclosed.
How often is this the case with start-up companies?
Looking over the Outstanding Shares for the last three years...
January 8, 2020. 122,571,156 Shares
October 10, 2018 120,771,156 Shares
June 28, 2018. 119,171,156 Shares
October 17, 2017 116,634,698 Shares
May 30, 3017 115,884,698 Shares
Before Oil and Gas properties acquired:
January 17, 2017 31,732,567 Shares
It has been a grueling ordeal
I think the whole filing- auditor mix-up and the need to refile their financials, and the resulting failure-to-file Cease Trace Trading Order, has hurt the company. It has set the company back and hindered it from carrying out it's business plan.
Over the last two to three years the company has provided for a good flow of information. They've been open and as transparent as they could be.
We have seen real and valuable assets brought into the company. We've seen projections of the potential return on investment that couldn't be greater.
Through all of this I think we've received updates and accurate information, though I think it's often come to us with an overly optimistic spin.
I think Fortem Resources will one day become everything or at least most of what it's been working toward. As always there are worldwide macro-economic influences that may help or hinder our cause, but those remain to be seen.
No one has told me this, but I've speculated that there may have been competitive influences that have hindered them from carrying out their business plan y the regulative level. Oil and gas development is an intensely competitive field, so I wouldn't be surprised.
I still hold a large interest in FTMR. Am I disappointed and frustrated? Sure. But we can only make decisions with the information that we have at the time.
While there are a number of negatives and our time or capital been tied up here, there are a number of positives as well. The company has been running a pretty tight ship. When the company has expended capital and issued shares, it's been for real assets and necessary things. Just check out the outstanding shares it's been fairly static for the last two years. That's a positive sign.
Yeah, I've been a following and investing in the company since 2018 when they started trading. Made some money, lost some... have some long term interest.
If they can do even half of what they projected in 2020 things will be much different a year from now.
Best.
NEWS 2/21/2020 American Resources Corporation Completes Restructuring of Perry County Resources
Company Cuts an Estimate of Over $35 million in Losses to Focus on Efficiencies, Profitability and Sustainable Job Creation
FISHERS, IN / ACCESSWIRE / February 21, 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, announced today that it has substantially completed the post-acquisition restructuring of Perry County Resources ("PCR").
American Resources has been a consolidator and operator of quality metallurgical carbon assets in the Central Appalachian basin (CAPP) to serve customers in the steelmaking, specialty alloy metals, and industrial marketplaces. Its next-generation model and philosophy is to restructure existing, legacy operations to better fit the modern-day marketplace by eliminating legacy costs and liabilities to significantly reduce the overall operating costs and to allow its operations to thrive throughout all cycles of the carbon market. Perry County Resources is the Company's fifth carbon processing and logistics complex located in eastern Kentucky, near the town of Hazard.
"We are extremely excited to have the restructuring of Perry County Resources complete and now have the complex in a much better position to serve its customers, workforce, community and all of our shareholders," stated Mark Jensen, Chairman and CEO of American Resources Corporation. "We also applaud our team's hard work, tenacity and ability to stay focused, despite numerous distractions that have been presented by parties that fought such change and to keep this project on its desired timeline."
American Resources acquired PCR in October, 2019 as part of the Chapter 11 bankruptcy proceedings of Cambrian Holding Company, Inc. which were governed by the United States Bankruptcy Court for the Eastern District of Kentucky under Section 363 of the U.S. Bankruptcy Code. As part of its restructuring efforts to significantly cut costs and reset the operations to focus on efficiency and profitability, the Company has made the decision to complete the following initiatives:
Eliminated an estimated $35 million of annual expenses from the PCR complex by either restructuring or eliminating costly policies, contracts, leases and operations including certain long-term leases that cost the complex over $80 million over the last twenty years.
Executed a mine consolidation project to reallocate resources from two existing deep mines when purchased, into one of the existing deep mines allowing the Company to convert the operating sections and mine plan to support similar output under a much more efficient, lower-cost structure. The revised mine plan now allows the Company to run super-sections, rather than single-sections, which essentially doubles the output with only 25% incremental labor.
Entered into an agreement to divest the non-core, idled deep mine which reduces holding costs and provides capital and equipment to support the operating deep mine at PCR.
Implemented repair and revised maintenance plans to both underground and processing equipment to significantly increase the efficiency and productivity of the equipment and workforce.
Restructured the remaining deep mine to reduce maintenance and holding costs, while improving the safety of the retained operations.
"We remain fully confident in the changes we brought to PCR and are bringing to the industry as a whole. We look forward to discussing with the state, regulators and employees about getting this mine back into production. We are willing and able to hire back approximately 100 men and women and are confident that the state and regulators would also like to see these jobs created and retained in an area that needs them more than ever," concluded Mr. Jensen.
American Resources is now in the process of interviewing for the PCR complex and hopes to have it back online under its efficient, low-cost operating structure within the next thirty days. Interested applicants can visit here for more information.
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 raw materials to the rapidly growing global infrastructure marketplace. The company's primary focus is on the extraction, processing, transportation and selling of metallurgical carbon and pulverized coal injection (PCI) to the steel industry. The company operations are based in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical products are located.
The company's business model is based on running a streamlined and efficient operation to economically extract and deliver resources to meet its customers' demands. By running operations with low or no legacy costs, American Resources Corporation works to maximize margins for its investors while being able to scale its operations to meet the growth of the global infrastructure market.
Website:
http://www.americanresourcescorp.com
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
917-280-732
matt@precisionpr.co
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/577273/American-Resources-Corporation-Completes-Restructuring-of-Perry-County-Resources
I don't understand. 1.5 million shares trade. High of 78 cents.
And now we're below where we closed yesterday.
Some things change, some don't.
It supposed to be within 90 days of the end of the fourth quarter, which I believe would mean by the end of March.
AREC seemed to be trading a bit differently the last couple days. Who knows, maybe the company has figured out where the shares are at and whether there are still selling shareholders.
We'll see if next week brings anything more to light.
Hey Chuck,
So you know I appreciate you sharing your views including your words of caution. I've been right and wrong about people and companies before.
I don't have an inside track to what may or may not take place. I'm pretty much going with my contrarian tendencies and the impressions I've gotten.
I did talk to management back in mid-2019 and at that point, as they reported in one of their filings, they thought they would be completing additional acquisitions by the end of 2019, with possibly an announcement about some distribution or licensing agreements with the acquired fertilizer/soil enhancement product.
Regarding the new direction and board member, and their foray into biotechnology, I'm taking a wait and see approach. My assumption, whether it's by a cash infusion or an exchange of equity for a valuable asset, the potential and prospect of the future company is going to be substantially stronger than it was before.
Could current or I guess previous investors get burned and reverse split into insignificance? Possibly, but that cuts across the board and would similarly reduce current management's position as well.
Regarding your question, proposals #1 and #2 seemed redundant. If you reverse split is an increase in authorized shares necessary... and vice versa?
I'm assuming we'll be hearing about details and developments in the next week or two. Until then, here's hoping!
Agreed. After the reverse split, the outstanding shares were down to 300K... from OTC Markets, it looks like it might be twice that now.
I'm hoping we hear some good news and generate some substantial volume and price movement.
Hello. I don't have a huge position just a couple thousand dollars. How do you decide to sell?
I held some of my position for 2-3 years... and saw it trade way up and way down.
Any thoughts would be appreciated.
At this point I am intrigued, curious, and even optimistic.
They've announced a new board member and in a subsequent press release announced acquiring the rights to a prospective new cancer drug. Certainly, this indicates the expectation of some sort of acquisition, capital infusion, and/or merger.
With the shareholder meeting behind us, the future of QPWR has pretty much become a blank slate. It can pretty much morph into whatever management is able to make it.
If we go the biotech direction, one would think the soil properties, marketing rights, and assets would probably be spun off or sold. Who knows?
As I see it management has one overarching goal and that is longterm success. I would have to believe that if they succeed, we as shareholders will also succeed.
I'm not buying more shares at the moment, but I'm certainly watching and waiting to see what happens next.
Results of Shareholder Meeting released in 8-K:
I believe each board recommended Proposals passed, although I'm uncertain about #3 about the Omnibus Equity Incentive... only had 23.5 million votes.
(a) The Company held a Special Meeting of Stockholders (the “Special Meeting”) on Friday, February 7, 2020, in Fort Lauderdale, Florida.
(b) The final results of voting for each matter submitted to a vote of stockholders at the Special Meeting are as follows:
Proposal 1: Amendment to Certificate of Incorporation; Approval of Increase in Authorized Shares
The proposal to amend the Company’s Certificate of Incorporation (the “Charter”) to increase the authorized number of our shares of Common Stock from 100,000,000 to 300,000,000 shares was approved. The final voting results are set forth below:
For Against Abstentions
30,938,676 4,172,313 0
Proposal 2: Amendment to Certificate of Incorporation; Reverse Stock Split
The proposal to amend the Company’s Charter to effect a reverse stock split of the outstanding shares of the Company’s Common Stock by a ratio of not less than 1:2 shares and not more than 1:25 shares, with the exact ratio to be set at a whole number within this range by the Board of Directors of the Company in its sole discretion, was approved. The final voting results are set forth below:
For Against Abstentions
32,034,165 3,072,686 4,138
Proposal 3: Adoption of Equity Incentive Plan
The proposal to adopt the Amended Omnibus Equity Incentive Plan was approved. The final voting results are set forth below:
For Against Abstentions
23,594,768. 2,333,068 455,735
Proposal 4: Adjournment of the Special Meeting
The proposal to approve one or more adjournments to the Special Meeting, if necessary or appropriate, to permit further solicitation of proxies if there are not sufficient votes at the time of the Special Meeting cast in favor of the proposals or to constitute a quorum was approved. The results of the voting were as follows:
For Against Abstentions
30,722,355 4,081,287 307,347
https://www.otcmarkets.com/filing/html?id=13897548&guid=uDGCUpLZGSOSOth
Why? Do you think it's going up or down?