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I hope you are right knight. If I were developing anything cyber/crypto and looking to go public but prefer a lower profile and a longer path, this name fits the billI for a reverse merger with a somewhat functional OTC abandoned ticker that perhaps someone will clean up (make it current, transfer agent verified) and get started as pink.
One has to wonder there may be hundreds of cases like this out there.
Just to put things in perspective, so far the buying was about $14k. Given the run on many sub penny stocks this could be simply another gambler.
Sorry, makes no sense. A buyer would simply set an asset transfer agreement, not buy shares in the open mkt. Unless someone knows something and is front-running that investor.
Just be careful. Every now and then the SEC cracks down. Recently, they suspended trading on SCIE. Perhaps, testing the waters. In 2012, they cracked hard on 379 OTC companies. Suddenly and out of the blue.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=75547630
If someone wants this, they will quietly acquire the company by transferring all assets. Not by buying the o/s shares. And they will make sure nobody knows.
Balagamwala himself should understand this, get filings current and OTC information up to date. Then, retire half of the shares, clean up the books and look for some innovative project for merging that does not want to go the IPO route yet prefers an OTC entrance prior to start quoting on a major board years down the road with full SEC filings.
I agree, the name is valuable. Also, the fact that this is not really an empty shell heavily promoted by speculators. The chances of the SEC suspending trading here seem low, even though the company is not presently current.
Is this an image of their office?
This is what I have found on the address listed on the introduction and on the OTC page. Could anyone confirm, please?
Yes, what other said. Thank you for your DD and this clarification.
The one next week or so seeks to determine why the owner stopped reporting financial information on Sept. 2020. Court required monthly reporting so GNPT is behind 4 months (Oct, Nov, Dec and Jan).
It appears the last time the owner reported monthly financial information was on September of 2020. I guess the coming hearing, in a few weeks, seeks to determine why no more monthly reporting since then.
That said, clearly this is not an empty shell. By last September, owner reported approx. $139,000 in sales and cumulative revenue greater than $2 million for the first 9 months. That last filing also shows in detail all transactions for September including bank account information, deposits and withdrawals.
The information is just not current at the OTC website. However, the reporting at the courts is somewhat up to date. This one can't be compared to the recent crackdown of OTC shell scams. Although this may not make GNPT better as it looks like a crappy business run by a crappy person, ready to be taken over and repurposed.
How do you know it is not a shell? Have you called them?
You sure? What if big news drops on the weekend? It's gonna be FOMO Monday.
Thanks for this DD y'all. But revenues are not earnings... Anyway, this is closer to come back alive than any of the others.
It did not clean it completely. But if someone has approx. 6 million to spare they can wipe the debt leftover and take care of the other commitment left. Since all equity is good they can acquire its assets and jump-start a new venture. If someone is looking to enter the game and can't IPO, this is ideal. Just like TSNP has been doing with HUMBL.
This shell does not look that bad compared to others. The o/s is not as criminally big as others. Take a look at what Foote did with TSNP. He acquired the shell and within months made it current, retired 550 million shares and repurchased over 100 million more. Because the Board was composed by him, solely, he was able to decide on retiring shares making the o/s 15% smaller.
This one needs current reporting. If we see "Transfer Agent Verified" in the OTC we will know someone has acquired it or is working on this one and it will be off to the races. For now, it's all high-risk speculation.
I see you are selling breadcrumbs here and there lol.
Looking at the orders it appears there is a brutal unloading, actually.
It may happen. Hang on.
Next time sell all you can at 0.0002. Or better, 0001! :)
Owner of this company seems fishy and does have a less than pristine reputation. However, I'd say look at tsnp ihub board and go back a decade or more. Just like this one, going miserably nowhere. Check messages from 2014 and beyond (or even before if you want) 'til you get to message #23000 on 7/8/2020. Something happened. A fork in the road.
It is a mistake to dismiss this type of companies on the basis of their past history. A new investor may come along with some plan, an idea or hoping to revive an old, discarded enterprise with a new purpose.
I am not saying this is happening here. Careful.
On July last year tsnp starting filing again, going current. There was a plan although it was not made public immediately. In fact, it took many, many months to come forth while the stock traded rock bottom. Lucky those who purchased at 0.0001. Likely now rich. The actions taken by tsnp were numerous, from jump-starting filings, retiring hundreds of millions of shares (551 million shares), buying back stock (100 million shares), implementing a business plan, etc. While future plans look even more ambitious like getting into nasdaq with full sec filings by end of year, provided they succeed with their business venture.
While the ceo here doesn't look too promising bdgr can still get the benefit of the doubt. Who knows, maybe a solid manager with a vision and a practical business venture shows up. It is now wait and see, if you own shares.
Why did you all savagely load up here? Some promise land awaiting for you?
wow.. too many. if you have patience you may be able to get rid of them. Otherwise, a double is great! Think 100% return!
Are you the guy sitting on 62 million shares hoping for a double at .0002 or a 10 bagger if some fool bails you out?
me too :)
As in 0.03 / 0.05?
All in, here. Let's go.
CUSIP 939ESC968
Question please. Are these the old WAMUQ shares? If so, are these class 22 creditors?
LTI just issued a letter saying class 18 has been paid in full and now they move on to class 19 subordinated claims.
"... and every quarter's earnings..."
Passage of time, given the state of housing and the recurrent mini-crashes of the stock market, may also bring in losses.
They have been developing CVSI-007 for years now. What happened to the IND application? Aren't they like 2 years late on that?
Did you get to the part that says a 4th amendment to restore the original agreement would leave an outstanding balance of Sr. preferred shares at 6.3 billion? Which could later disappear if equitisized? Where would the market determine the new share price for the Jrs to be?
I will give 3 choices for the $25s:
a) $23.50
b) $24.50
c) $25
reckus
I do not think you have carefully read all the little legal aspects of the deal but if I remember correctly, courts aren't permitted to review anything unless such court is brought in by FHFA itself (HERA). Briefly, since the agreement cannot tramp the law, it is Watt who can bring in the courts. But perhaps he must do this before stopping payments.
1. Watt has enormous power as an independent Federal agency.
2. PSPAs is solely an agreement between parties. Of which Treasury played the role of private investor.
Who do you think now has the upper hand?
Career politicians go with the flow and have surprising chameleon abilities. That statement belongs to the Obama era. We will have to see how much he changes, switches, adjusts or fine tunes his views in the Trump era. If anything, these views support more a full privatization than a wind down. Watt may or may not have a say. The worst that can happen is wait till his term is over, 2 more years. And that will that.
This appeal by the government is a good thing.
If they end up losing it and then there is a good outcome on Perry it will be much more obvious the case of the government is extremely weak. Then, we could expect better news on all fronts afterwards. And both outcomes for the appeals may come in the near term. Although this is just a guess. Or a wish.
Complete loser.
Obama did not want shareholders to benefit prior to him becoming President. On the record in an interview in 2008. HC will follow his footsteps, that is why she has become the democrat candidate. Perry must be won. Whether a remand or a reversal. Government will continue to fight no matter what. Or who.
Thank you.
The remedy was very narrow. It may be a stretch to consider this ruling as a basis for full invalidation. A suggested remedy could simply be eliminating a provision that requires independence while leaving the law unchanged. Would that count as invalidating HERA?
We are actually arguing that President's involvement here is illegal. This ruling says the illegal must actually be made legal because lawmakers got it wrong. What makes you happy about it?
Is non-action silent support or acting like a deer in the headlights?
// 1. Congress is behind Obama's take over of the GSEs at large. They passed HERA and have not even suggested any legislature to amend it to override any of FHFA or Obama's actions. There is little reason to move when Congress supports (at least implicitly) the actions you are taking.
Congress did not support the NWS. Congress supported the actions of Hank Paulson. Or, more precisely, Hank Paulson helped mold HERA to support his actions.
Besides, Obama and Hillary Clinton were 2 of the only 3 senators who did not vote for HERA. So clearly, Obama thinks HERA doesn't exist. Therefore, he could care less about Congress.
If they knew windfall profits were coming, fair mkt value on 8/17/12 would not be just compensation. That would be justified robbery. They did not take the money amount on that day. What they really wanted to take and deprive shareholders of were the DTAs and loss reversals.