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LOL. Yeah, anyone who bought on the right day in the last month might be up as much as 20%. The other longs, the ones who have been buying in double digits on all the hype are f'd.
So I think "most PNTV investors" are pretty disappointed in the company now.
And with all that toxic debt now being 6 months old, it's going to get a lot uglier.
"I dont make claims after the fact, i do so before"
I prefer to make my claims after the facts since making claims beforehand is more accurately called speculation.
And yup, I do love a good toxic pump and dump like PNTV.
The only unregistered/restricted shares are those held by Delfin.
They can unrestrict them shortly having held them for 6 months, but there are very strict limits on selling them.
They can of course reverse split, issue themselves new restricted shares and sell new, unrestricted shares to investors who are not related to Delfin by filing the proper paperwork with the SEC.
"Trading Volume Formula. If you are an affiliate, the number of equity securities you may sell during any three-month period cannot exceed the greater of 1% of the outstanding shares of the same class being sold, or if the class is listed on a stock exchange, the greater of 1% or the average reported weekly trading volume during the four weeks preceding the filing of a notice of sale on Form 144. Over-the-counter stocks, including those quoted on the OTC Bulletin Board and the Pink Sheets, can only be sold using the 1% measurement."
https://www.sec.gov/reportspubs/investor-publications/investorpubsrule144htm.html
I guess we have a different definition of "barely traded". It was $2k/day as a shell before the announcement and now about 10X that, with even much higher volumes before the recent melt down.
And the 130MA is FAR more meaningful, since it accounts for the ENTIRE time it was trading on the new information of the Delfin purchase and not the period BEFORE the announcement. So I think you'll find the 200MA is the cherry picked number.
Are you suggesting that there was someone trading in May on inside knowledge of the Delfin deal? Interesting. We know it wasn't Delfin because of the form 13 filing. Maybe the SEC should look into any large purchases during that time frame.
No stock heads "straight" to anywhere, but the likelihood of losses far exceeds that of gains.
I don't need to see what happens in the future. I've done great on PNTV predicting it for a VERY long time.
Yeah, it wouldn't have been a 3 day weekend without Picasso painting the close. Too funny.
You want to look for the "big news coming" bumps, or the drift downwards on no news. But it's important to keep the flips small. And now that over $1 million in toxic notes are 6 months old, it's gonna be tough to flip it, even for me.
Another good indicator is when you see a lot of hype from the company. That worked great in the past. Recently though, too many have seen through their hype and the price hasn't moved.
Bottom line, the time to flip this has mostly passed. But this has been one of the longest running pump and dumps, so even with small flips, a relatively profitable one.
Good luck!
P.S. My philosophy on posting is to be honest and cite facts to back up my opinions, and to take as much of the profits away from the toxic note holders as possible. Better me than them, I say.
Yup, I've done quite well flipping this pump and dump, but I'd be careful getting excited about 1 up day in a sea of red.
Buying at the high is not how I like to play it. I prefer to buy at the low and sell at the high.
Once they announce the R/S and new ownership ratio between TGLO and Delfin shareholders in a R/M, the stock will tank.
Lower highs and lower lows. It's about a clear an indicator of a pump and dump chart as you'll ever see.
This will be below $.04 in the next week or two.
Delfin would need to raise the A/S dramatically to reach 99%+ ownership without a reverse split. That's rarely the way these reverse mergers go for companies that are legit. A reverse split at the same time as the reverse merger makes more sense.
I expect to see a set of simultaneous transactions:
- stock is reverse split 1:30 or higher
- Delfin reverse merges in by issuing new shares to its shareholders in sufficient quantity to give Delfin shareholders 99%+ ownership of TGLO.
- Delfin does a capital raise (this could occur as a 2nd transaction or contemporaneously with the R/S & R/M)
Boy did you misread.
I'd recommend a second look.
Let me correct all your errors.
The split will be reverse - 1:100 or more.
There is no such thing as "locking up the float". That BS was dispelled years ago.
The float is over 100 million. The float is simply the shares not held by Delfin.
No, they are only available to a company taking over the same business as TGLO, which clearly, Delfin isn't.
If you look at TELL, https://backend.otcmarkets.com/otcapi/company/sec-filings/12626772/content/html you'll see that despite the fact that MPET was in a similar business (Oil & Gas) TELL was not only unable to use the carryforward tax loss, they incurred a small tax liability (p.36, successor).
It's trading like anyone with real money to invest knows there will be a big reverse split and is staying away.
We actually know that there are over 100 million shares in the float and Delfin and related insiders own only 70.9%. That's in the SEC filings, and you don't f around with the SEC, especially when you're considering becoming a public company.
You're very welcome.
Yes, if only 2% of the stock is issued and outstanding, no R/S is necessary. But if 85% is issued and outstanding, an R/S is necessary.
And remember, in MPET's case, they were a Nasdaq listed stock with positive asset value and they got ownership in the exact proportion of their asset value to the combined asset value.
TGLO is a stinky pinkie with negative asset value.
If anyone with real investment money and smarts thought this merger would happen without a reverse split, they would be buying every share available under $1.
Picasso is trying, but the dumping is out of control. Almost 250k dumped below $.08 in the last 90 minutes.
TELL announced the MPET merger in Aug 2016. The stock was at $1/share. It immediately went to about $6/share. As speculation increased, it went as high as $21.50/share over the next 6 months. In Feb 2017, the final split (MPET 3%, Tellurian 97%) was announced and the stock fell back to $8-$10/share. It has since stayed between $6 and $12/share.
https://www.streetinsider.com/Corporate+News/Magellan+Petroleum+%28MPET%29+Enters+Merger+Agreement+with+Tellurian+Investments/11895054.html
https://seekingalpha.com/article/4045564-tellurian-stock-decline-following-issuance-190-million-new-shares
TELL did NOT reverse split with MPET as there was no need.
The O/S was 8 million and the A/S was several hundred million.
They gave 3% of the company to the MPET shareholders and 97% to the Tellurian shareholders, based on MPET providing 3% of the combined assets and Tellurian providing 97% of the combined assets.
TGLO has an O/S of 440 million and an A/S of 500 million, so they'll need to do a reverse split to fairly value the Delfin shares. Since Delfin will contribute over 100% of the combined assets and TGLO has negative net assets, even .5% would be more than TGLO shareholders deserve.
The thinking is that TGLO shareholders will end up with 1% or less of the merged company IF Delfin goes ahead with a reverse merger.
You're completely wrong. Delphin owns the shares they bought from Egan and that's it. Delphin insiders have no additional ownership or they'd at least have to disclose it, but being insiders of Delphin, they would also likely run afoul of the insider trading laws, even if they disclosed.
Or PNTV running from $.01 to $.23, back to $.04 now.
LOL, I'll translate for you.
"Aggregate market value of the voting Common Stock held by non-affiliates of the registrant as of the close of business as of the last business day of the registrant’s most recently completed second fiscal quarter, June 30, 2017: $117,243.*
Translation: The total market value of the portion of the common stock NOT held by insiders (e.g. held by non-affiliates) is $117,243.
*Includes voting stock held by third parties, which may be deemed to be beneficially owned by affiliates, but for which such affiliates have disclaimed beneficial ownership."
Translation: Includes voting common shares which may be considered by the SEC to be benefically owned by insiders, but the insiders who own the shares have maintained they do NOT control the shares.
Further translation: We are not responsible for incorrect designation of insider ownership.
It has nothing to do with any of the 3rd parties disclaiming beneficial ownership.
And of course, there's that form 13 filing requirement.
LOL, anyone with experience following toxic note stocks (which I have been doing for over 10 years) knows that they all crash and burn taking most stockholders money with them while enriching the toxic lenders.
PNTV just upped its toxic note debt by almost 2 million. The resulting dilution will send this back to a penny.
That's the float they're talking about. It's not one non-affiliated 3rd party, it's ALL non-affiliated 3rd parties. Note the use of the plural.
If Delphin owned any shares prior to the purchase of Egan's shares, they would have been included in the 13 filing.
They did not. Nor have they bought any since then.
"Aggregate market value of the voting Common Stock held by non-affiliates of the registrant as of the close of business as of the last business day of the registrant’s most recently completed second fiscal quarter, June 30, 2017: $117,243.*
*Includes voting stock held by third parties, which may be deemed to be beneficially owned by affiliates, but for which such affiliates have disclaimed beneficial ownership."
Impossible that Delfin is selling or buying. They'd have filed forms if they were.
Egan likely selling, but he'll do it slowly to avoid crashing the stock.
No, you're just not looking at the right form. The form in question is the Schedule 13
https://www.securitieslawyer101.com/2015/schedule-13d-and-13g-filing-requirements-securities-lawyer-101-qa/
"Q. What Do Sections 13(D) and 13(G) require beneficial owners to do?
A. Section 13D and 13G require any person who, after directly or indirectly acquiring beneficial ownership of any class of registered equity securities (or certain unregistered equity securities), is directly or indirectly the beneficial owner of more than 5% of that class, to file a Schedule 13D or 13D with the SEC within 10 days of their acquisition."
The 10% figure applies to forms 3 and 4 and control persons. 13D & 13G relate to ANYONE (insiders, outsiders, hedge funds, foreign entities, etc.) who acquire 5% ownership in a security.
In addition, everyone is prohibited on trading on non-public material information. You can bet that anyone in Delfin's circle who purchased a large position, even under 5% based on knowing what Delfin would do would likely see the SEC come after them if they profited from that insider information.
It's a safe bet that Delfin insiders are not buying and that Egan is selling, now that he is no longer subject to any reporting requirements.
They did that already with NV. It worked for a while, got the stock from $.01 to $.23, but the game has played out and they have taken on almmost 2 million in toxic notes in less than 9 months. The dilution from those notes will ensure that even with the greatest hype in the world, the stock will fall.
As another poster pointed out, maybe in 10 years they can come up with a new story for new investors and run it again, but for now, it's just throwing away good money, IMHO.
No. It drops on a daily basis now that everyone knows it's a pump and dump.
It is. Preferred trade at around $.25. The $.04 trade was an obvious error.
Agreed. PNTV is a pump and dump flip trade, not a long term hold.
What stock are you referring to? TEUFF is in the $.01 range.
Especially given it was a Picasso paint job that closed it green.
It is. Except for pinkies, it's 5%, and it just needs to be an owner of 5%, there. is absolutely no notion of "issuer". The issuer buying shares would be treasury stock
True, but this has been pumped and dumped more times than a 1960s fire truck.
And the toxic debt levels are at record highs - almost $2 million in less than 9 months of new notes. The dilution is going to keep accelerating and the price falling.
By virtue of Delfin owning more than 5% of TGLO, Delfin "control persons" are in fact, TGLO insiders.
Wrong again! No distincion between the issuer or not. Look at all the form 13s filed on TGLO. Not ONE Is filed by TGLO (the issuer). They are all filed by 5% owners, officers and directors. Same with EVERY OTHER OTC STOCK.
According to Section 16, every person who is directly or indirectly a beneficial owner of more than 10% of a company, or who is a director or an officer of the issuer of such a security, shall file the statements required by this subsection with the Securities and Exchange Commission (SEC).
When it costs $900k/month to generate it in direct costs.
Plus another $200k in SG&A.
LOL, profits mean everything, but we're not even talking about profits. We're talking about GROSS PROFITS. That's the revenue less the DIRECT COSTS to generate those revenues. That was a LOSS for PNTV.
That's pathetic.
Cali is meaningless at this point. The big PR around their revenue, then the reality that they sold the MJ they bought for a loss, shows it's just more of the same pump and dump.
It's pretty clear that Cali is just another attempt to keep the stock from crashing. Unless the stuckholders are willing to through another $20k/day at keeping this afloat, that 10Q should cause it to sink further, rather quickly.