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.
From what I can see...
SPYR is becoming something more than it was.
As I look over the press releases over the last year, they certainly seem to be putting together a first rate team.
From August 2 update... this seems like a big deal:
"Engaging Farshid Almassizadeh, the former VP and COO of EA Interactive, to join the SPYR team as its Chief Strategic Advisor. See our press release from February 22, 2017: ("SPYR Hires Former Electronic Arts (EA) Executive As Chief Strategic Advisor;" ir.spyr.com/press-releases/detail/161/spyr-hires-former-electronic-arts-ea-executive-as-chief)."
Update then concludes:
"In closing, the Company is proud to report that as of July 31, 2017, it has already achieved many of its plans and objectives for 2017, as outlined in the February 2, 2017, press release and has seized upon several new opportunities that materialized since then."
Have to say it's pretty refreshing for a company to actually do what they say they're gonna do.
Regards.
So here's my question... especially for longs.
What compelling reasons do you have for investing in this company?
Why should I invest in the company?
Why do you believe in the future of the company?
I know a lot of you guys are chart guys and base your investment decisions on stock volume and pricing... but to me, the more compelling reason to buy, hold and trade a stock is the reason the stock is trading in the pattern it is in the first place.
Friends...
I'm fairly new to SPYR but am intrigued by recent change of focus and the trading activity over the last month, and now the recent amending of the Articles of Incorporation in the recent 8-K.
"It states: Item 5.03(a) Amendments to Articles of Incorporation or Bylaws.
"On January 22, 2018, the Company’s Board of Directors met in a Special Meeting pursuant to Sections 3.10 and 3.16 of the Company’s By-Laws. The purpose of the meeting was to entertain a proposal to amend the Company’s By Laws pursuant to Section 9.7 that provides: “These By Laws may be altered, amended or repealed either by unanimous written consent of the Board of Directors, in the manner stated in Article 3.16 herein, or at any meeting of the Board of Directors at which a quorum is present, by the affirmative vote of a majority of the Directors present at such meeting, provided notice of the proposed alteration, amendment or repeal be contained in the notice of such hearing.”
"The Board met and considered amending the Company’s By-Laws in order to comply with Nevada law. The Board received and considered amended By-Laws and adopted them by unanimous written consent."
From my limited experience, changes like this are generally made for a substantial reasons... because lawyers say so, which of course raises the question why do the lawyers say to do so?
An 8-K was released a couple days ago declaring the outcome of the recent Shareholder Proxy:
The three amendments to the Articles of Incorporation were declared passed:
"As of January 18, 2018, we had received written consents representing 81,149,889 votes for the above proposals from the holders of shares of our common stock, representing approximately 68.8% of the voting power of our outstanding common stock as of the record date (December 27, 2017)." ( https://ih.advfn.com/p.php?pid=nmona&article=76545080 ).
Fortem Resources just keeps doing what it's doing. I'm confident that their main goal is success. They developing and growing this company. I suppose the stock's trading on a daily basis matters... but in terms of the long-term goals, they just keeps plugging along.
Read this statement from the front page of their Website: www.fortemresources.com:
Fortem Resources Inc.
The Company is engaged in the business of seeking out, evaluating and acquiring working interests in oil and gas and other resource projects in North America and internationally. Fortem’s strategy remains focused on developing quality energy projects with lower risk profiles and identified upside potential. The Company will continue to pursue those projects that provide the potential to maximize and grow shareholder value. Fortem Resources holds five wholly own subsidiaries named Rolling Rock Resources, Black Dragon Energy, Colony Energy, Big Lake Energy and City of Gold. The Company’s common shares trade on the OTC.QB under the symbol FTMR. (http://www.fortemresources.com/)
Did you notice it didn't say properties, rights or interests? Each of these acquisitions comes as subsidiaries... virtually as companies in their own rights. I'm waiting to hear how things are going with each of them and what FTMR believes will be their priority or focus.
The issue is the 8-K was the valuation of the acquired properties...
The 8-K state:
"Unaudited financial statements included in our quarterly report on Form 10-Q for the quarterly period ended May 31, 2017, filed on July 24, 2017; and
·
"Unaudited financial statements included in our quarterly report on Form 10-Q for the quarterly period ended August 31, 2017, filed on October 17, 2017.
"Our management following consultation with our financial advisors and independent registered public accounting firm determined that we incorrectly accounted for the fair booked value of Colony Energy, LLC, Black Dragon Energy, LLC, Rolling Rock Resources, LLC and City of Gold, LLC that we purchased."
We will find out for sure when these"unaudited 10Q's" are amended and refiled, but the focus is on rightly valuating the acquired properties. Are they worth the then current value of the shares issued? I think all of us have invested because we believe the properties are going to be worth a multiple of the then current value of the shares paid for them.
At some time the Book Value and the Enterprise Value will need to come together. The question for us is their combined value divided by the outstanding shares
In other words I think this too is just part of crossing the T's and fitting the I's. Why does all this have to be done? I think the reason is bigger than the TSX listing that were waiting for. It's what's going to happen after.
We shall see. This is My best guess.
Great article. Thanks.
Same here... from my Ameritrade Account. Just checked my mail and I had a similar email from my Fidelity account.
I agree with LovethatGreen... the outcome is most likely a foregone conclusion.
Jumping through another hoop to meet the requirements. :)
There are many facets. There are head fakes, greed/fear traps, trades made on one side bid and ask... when the real interest is on the opposite side... much attempting to influence how investors feel and fear.
It's usually helpful to keep a long term vantage point. If the company succeeds, your investment will grow and prosper.
I agree with you... It sometimes doesn't make sense.
Agreed. Plus management and insiders own enough of the company to pass this already anyway. They're just doing it the right way. We should be getting proxies in the mail shortly.
Hey Trapper Jim...
FTMR is in the process of seeking to be listed on the TSX.
Reading been the lines we believe these changes are in response to comments received from TSX gate keepers.
There've been a couple other restatements and amendments that similarly make sense.
Most of us on the board have pretty high expectations for the future of this company, even stellar high.
Our CEO had done this before (made billions) and we believe we intends this to be his crowning achievement.
We'll see. Read the press releases from the last year (drink a little koolaid ;) and you'll probably come to the same conclusion. ;)
Apparently not done yet either.....
Just checked Level 2 and a 50K bid at $1.40 just showed up. :O
I don't know. All I know for sure is that the bidders/buyers are pretty serious about acquiring shares. :)
Another STELLAR day for ORHB:
Volume: 406,831
Low/High: $ .69 - .90
Last: $.8698
Price Increase $.1798
Detailed Quote: https://ih.advfn.com/stock-market/USOTC/orhub-inc-ORHB/stock-price
Trades: https://ih.advfn.com/stock-market/USOTC/orhub-inc-ORHB/trades
I wonder if this volume and price movement is related to this conference.
Gentlemen...
I think we're heading for much higher ground.
156k @ .68 on the bid!!
The unstated point that these private placements and warrant exercises make is that there are some pretty deep pockets making some pretty sizable investments in the company and its future success.
I've not tallied all the financing... But this recent warrant exercise was $480k... The amended filing adds that to the original $200k (800k x .25) for a total of $680k.
Thanks for posting this... I was just coming to do so! ;)
Pretty awesome sounding press release. It will be interesting to hear how it goes!!
Best to all!
Amended Small Company Offering and Sale of Securities Without Registration
The recent announcement that 800,000 warrants had been exercised for $480,000 apparently required some clarification or restatement of the February 23, 2017 filing regarding a private placement sale on February 16, 2017.
Read full filing here: https://ih.advfn.com/p.php?pid=nmona&article=76411404
IN MY OPINION this amendment is probably also related to our application for listing on the TSX.
A few weeks ago we saw a number of amendments made to the Articles of Incorporation. I'm pretty sure that was related to comments from the TSX regarding our application.
I'm guessing that today's filing is our response to a second or third series of TSX comments.
Best to all... laying the ground work and building a company like we expect Fortem to become takes time. All the T's have to be crossed and all I's dotted.
AGAIN... this is just me trying to make sense of the delays and filings.
Best regards,
Randy
Hey 222... I thought I posted this earlier... but welcome to the FTMR board.
Not sure how familiar you are with this company... but it is basically a natural resource rollup. They've already acquired drilling and mineral rights to a bunch of prime real estate.
The storyline is pretty rich and with our CEO Marc Bruner at the helm most of us believe the sky is the limit. There's some fairly decent due diligence on the board... the Ibox needs some updating.
To see / learn about the company's acquisitions check out the news from last March/April forward. Company has traded at pretty range for the last 3-4 months and we're expecting a TSX listing any day... as in since the end of November. ;)
Anyway, if you have question, ask away. :)
Maybe, but I don't think so.
First on the company's agenda is getting the two year audit completed and upgrading their listing to the QB.
Once the two year audit is complete they will have the basic requirements met to uplist to a higher/broader exchange like NASDAQ.
You are correct that one of the criteria will be a higher stock price. And therein lies the rub. Will they artificially promote the stock to elevate its share price??? Thanks to you we know someone did in the past. I'm pretty sure you think this was the company or someone close to the company. I don't believe that was or is the case at all. There was an Australian investment group (Elias Group) that had promised to raise some capital for the company and were in effect sold/entrusted with a bunch of .33 warrants. (Some of them were mine.) They basically screwed the company out of most of the promised funds.
Regarding your concerns about Colt Melby... I don't doubt that what your saying is in part true, but there's always two sides to every story. I don't know the details, but I do know that he has had a number of successes and that he is highly regarded by people that I know and trust. At this point I'm giving him the benefit of the doubt. This wasn't his company or start up, he was asked by the founders of the company at the suggestion of people I trust to come on board as the CEO.
Anyway, what I see "with my rose colored glasses" is a profound opportunity based on new technology and a demonstrated work place need. I don't know how fast the company will grow and whether it will become half of what I hope and believe it could. However, people... doctors and venture capitalists with experience in medical technology seem to think ORHB could become something pretty big. How big? Therein lies yet another rub.
The question and problem (from my perspective) of investing in a company like this is if the opportunity arises, if a person sells at $1.00 or
$2.00 or $5.00 per share? They could potentially, be leaving a lot of money on the table. Selling at such prices could become a growing regret as the company's stock trades higher and higher.
We both know most low price stocks are not going to become something more or large, but... but some will and do.
I think this will be a mover, and I think there will be money to be made on both sides of the ball, but be careful as I think there's potential for great losses on the short side.
Randy
Waiting for the TSX listing.
I just checked the link for recent listings and there were already two companies added to the TSX as "Recently Listed" on January 1, 2018.
I believe one of these days that will be us! For the latest companies listed, watch this link and select "Recently Listed."
https://www.tsx.com/listings/listing-with-us/listed-company-directory
Thanks for the heads up Buccaneer...
I connected the dots in my last post to the February 21, 2017 filing. I think that one was the only financing done as units with one share and one warrant.
On the bright side, exercising 800,000 warrants translates into $480,000 into the company's accounts.
Operating capital is the fuel that makes the investment world go round.
I expect the company will continue to need additional operating capital to prove and develop our acquired properties. If everything goes according to plan, future financings will be done at higher dollar levels and thus will be less dilutive to shareholders as a whole.
Here's hoping 2018 meets or exceeds our expectations. :)
One of the early private placements was 800,000 units at ,25 that included one share with a sixty cent warrant.
Apparently, those warrants needed to be exercised (perhaps by 12/31/2017?) and were.
Here's the 8-K filing from February 21, 2017:
"Item 3.02 Unregistered Sales of Equity Securities.
On February 16, 2017, we sold an aggregate of 800,000 units (each, a “Unit”) at a price of US$0.25 per Unit for gross proceeds of US$200,000. Each Unit is comprised of one share of common stock of our company (each, a “Share”) and one non-transferable share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Share (each, a “Warrant Share”) at a price of US$0.60 per Warrant Share until February 16, 2019. We issued the Shares to one U.S. person in reliance upon Rule 506 of Regulation D of the Securities Act of 1933 , as amended.,
Bought some there as well. :)
at this point I don't think we need to worry much about that.
Who has more to gain and lose than those who are the biggest owners and have the most invested?
So far I've seen no exit strategy, but the overall success of the company. :)
8-K filing from yesterday December 19, 2017.
"On December 11, 2017, we issued 400,000 shares of common stock (each, a “Share”) to a finder in payment of a finder’s fee due pursuant to a finder’s fee agreement dated December 11, 2017. We issued the Shares to one non-U.S. person (as that term is defined in Regulation S of the Securities Act of 1933 , as amended) in an offshore transaction in which we relied on the exemptions from the registration requirements provided for in Regulation S and/or Section 4(a)(2) of the Securities Act of 1933 , as amended."
A bit ambiguous at this point, but I expect we'll see further news about this in the weeks to come.
I'm assuming this means that the company was made aware of a valuable prospect and someone put themselves in the middle of the deal.
If the finder's fee is worth a $1,000,000 at current prices, I would think that means the value of the property is comparable to our earlier acquisitions... maybe more.
I agree.
But a more likely scenario is an early warrant investor reshuffling their position... basically selling shares for 45 cents and repurchasing new shares for 35 cents.
As a warrant holder, I've been thinking about doing this.
BLTO
Thanks. As early investors so long as things keep moving forward... We'll have opportunity for big returns.
As most us us are "patiently waiting" [NOT!] for some word about Fortem Resources being listed on the TSX, I knew I had read somewhere that their application was in process, though I didn't see it explicitly stated in a press release.
Well, as I was looked over the Amendments to the Articles of Incorporation I found similar paragraphs were included for each of the recommended changes (in this document https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12367891):
"Our board of directors believe that the deletion of Article 6 of our articles of incorporation is necessary for listing of our securities on a stock exchange in Canada. Listing on a stock exchange in Canada will be subject to our fulfilling all the listing requirements of the stock exchange and there is no assurance that our securities will be listed on the stock exchange."
I believe these changes were in response to the first round of comments to their uplisting request.
While not explicit stating that they've applied to be listed on the Toronto Stock Exchange (TSX), this is probably as close as we could hope. :)
From recent Press Release on November 22, 2017
Pretty Encouraging Update!
Recent Corporate Highlights
Signed a 5-year revenue agreement (http://nnw.fm/t97Fx BTW--> if you've not read the customer review in this release, you should) with a three-hospital system in Southern California, recognized as one of the "100 Great Hospitals in America" by Becker's Hospital Review.
Entered into an agreement with a US News & World Report Top 20 Medical School for a fully paid installation.
Secured the commitment of three additional hospitals; implementation details and dates forthcoming in a future press release.
Expanded our channels for revenue to include medical technology companies, as well as plans for product offerings to payors, pharmaceutical companies and government agencies.
"We are ahead of schedule on many fronts with the product, including releasing our full suite of surgical service lines by the end of the year," said Wesley Mitchell, CTO of ORHub ( ORHB
"We have presented to more than 100 hospitals this year alone, with every one of them asking for either a proposal or an additional meeting with key business decision makers. We are also working closely with our existing customers to publish a series of white papers which will enable us to prove our value to future customers."
Thanks for your contributions to this board!
Great information.
Well... that moved up quickly for just 1700 shares volume.
This is either the effect of optimism or something more. :)
Just checked the TSX Recently Listed and so far no Fortem Resources Inc listed.
"I'm Dreaming of (more than) a White Christmas" ;)
I'm guessing there's something more than Christmas carols in the air. I've been checking daily and expect that one day to see FORTEM RESOURCES show up as "Recently Listed" on the Toronto Stock Exchange. :)
You can check yourself on the TSX website for "Recently Listed" tab here:
https://www.tsx.com/listings/listing-with-us/listed-company-directory
It's a process and I think the recent amendments to the ARTICLES OF INCORPORATION (posted below) indicate that there's progress being made.
There really are not many companies that get added to the TSX on a monthly basis.
Only 12 so far in November.
There were 21 in October
and 18 in September
When it happens, I think we will likely get notified via a press release the day of or the day before.
AND (since I'm speculating) that shortly after the uplisting, we will see a steadier stream of news about updated Asset Valuations, Property Development Plans, Financing, and perhaps some Additional Acquisitions.
All this is just my own opinion.
I think it going to become an industry with a number of players actively in the game. Having a product in place and vying for market share is exactly where we want to be.
The end game for any investor or venture capitalist is to be bought out by such companies. But that would happen after we become profitable and demonstrated.
I didn't follow up on the filing about the late filing of the most recent quarterly report until today.
If I'm reading the filing correctly, it sounds like we should see the two year audit and the quarterly filing this week.
“ORhub, Inc. (the “Company”) is unable to file its Quarterly Report for the fiscal quarter ended September 30,
2017 within the prescribed time period because the Company has experienced a delay in completing the
information necessary for inclusion in its first audit covering two years (inception to June 30, 2017). The
Company currently anticipates that its Quarterly Report for the fiscal quarter ended September 30, 2017 will
be filed within the five calendar days following its prescribed due date.”
ANTICIPATED FILING DATE:
[Please note that the filing of this notification grants issuers 5 additional calendar days to post a Quarterly or
Interim Report and 15 calendar days to post an Annual Report.]
https://www.otcmarkets.com/financialReportViewer?symbol=ORHB&id=182328
Few amendments to articles of incorporation being proposed for shareholder approval.
"1. Approval of the amendment and restatement of our articles of incorporation to delete a limitation of liabilities of director or officer clause;
"2. Approval of the amendment and restatement of our articles of incorporation to eliminate preemptive rights; and
"3. Approval of the amendment and restatement of our articles of incorporation to remove certain redundant provisions."
My guess is that these are addressing comments (responses) to our application to be listed on the TSX.
Just a theory. :)
If I'm right, it's a pretty good indication of progress.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12367891
I was poking around the TSX website, especially the link I supplied earlier for Recently Listed companies:
https://www.tsx.com/listings/listing-with-us/listed-company-directory
I thought it was interesting that there are not really that many companies being added to the TSX on a monthly basis.
Only 3 so far in November.
There were 21 in October
and 18 in September
Of those companies that are RECENTLY LISTED, I wondered how close the listings were to the dates press releases or announcements were made.
Well, from what I could tell, it's a mixed bag. It is common for the newly listed company to release news about the uplisting on the day it happens...
HOWEVER, there are several examples of companies releasing news the day before the listing takes place, and a few that report it a couple days later.
All this to say, I think we will likely get notified via a press release the day before it happens.
AND (since I'm speculating) that shortly after the uplisting, we will see a steady stream of news about updated Asset Valuations, property development plans, further financing, and perhaps some additional acquisitions.
All this is just my own opinion.