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If you haven't sold. You haven't made any money.
Now having flipped, I have.
But hey, good luck to us all on that R/M bump. I'll profit too, though far less than you, but I'm not counting on it coming.
Nothing has changed. Just look at the trading history of DKAM. Every 2-3 months there's a day where over 100 million shares trade, there are a few $.0002 trades and it's heralded as the next coming. A day later the volume is gone, it's back to no bid and all that changed is someone new with $10k worth of shares they need to get rid of.
LOL, risk? Beer money? $1 million in trades in 7 days with a 67% swing high to low. That buys some pretty expensive beer.
To each his own. I hope you make money in the end. I'm happy making money as we go!
5.5 million shares and just over $1 million traded in the 7 days since the 10K was filed. From $.136 to $.227 (67% swing).
Even better than pre-10K.
That's the value of a good hype story for flipping.
$10 million in volume in the last 3 months. Plenty of opportunities to flip. I know .
As you point out, 30% low-high range EACH day. Makes flipping quite profitable IF you can see the MM games.
Absolutely right!
The big money here is flipping this through small trades with small players who haven't been around these hyped up stocks promising to make them all rich.
I've been around the pinks long enough to know that people with 100%, 500% or 2,000% gains don't sit on all, or even most of those gains, hoping for another massive run. And while TGLO is not hyped in the same manner as a typical stinky pinkie, it's still obvious that it's not going from a $37,500 valuation at change of control to a 1,000 times greater valuation at reverse merger time, let alone multiples of that.
Exactly, and because PNTV is so deep in the hole with net liabilities, toxic notes are their only option for financing.
So look for more to be announced.
A lot more.
So much misunderstanding about R/Ms and secondary offerings.
There are many incorrect assumptions floating around:
- Delfin wants (or even needs) existing TGLO shareholders. When they do a secondary offering, assuming it's successful, it will provide more shareholders than they need to uplist. And those shareholders will have paid much more than current shareholders for their shares because current shareholders will be R/Sed down significantly.
- Delfin doing a reverse split will make them lose control of the company. A reverse split changes nothing about ownership percentages, so Delfin will still own 70.9%.
- Deflin will contribute their assets to TGLO with the current share structure. Diluting their assets by 29% off the bat serves no purpose and violates their fiduciary duty to the current Delfin shareholders.
The reality is that Delfin will do what TELL did and what all legit companies do who want to go public via a reverse merger:
- They'll reverse split to create a large number new shares for sale.
- They'll exchange a large number of new shares for their assets which they will be selling to TGLO.
- They'll do a secondary offering to boost their capital
- They'll uplist to Nasdaq.
Anyone who reads the filings knows there is a lot of toxic debt.
As of September 30, 2017, we had convertible notes outstanding with a cumulative outstanding principal balance of $270,000 which, if not converted into our common stock, require repayment at a premium to the outstanding balance, resulting in the need for approximately $480,000 in liquid capital. If, rather than repay these notes, we allow them to convert into our common stock, the conversions would be done at a discount to the market price of our common stock. The potential dilutive effects of these conversions at various conversion prices below our most recent market price of $0.09 per share is as follows:
https://backend.otcmarkets.com/otcapi/company/sec-filings/12596541/content/html
On July 28, 2016, the Company received proceeds of $35,000 in exchange for an unsecured convertible promissory note, bearing interest at eight percent (8%) (“First EJR Note”), which matures on July 28, 2017. The principal and interest is convertible into shares of common stock at the discretion of the note holder at a price equal to seventy eight percent (78%) of the average of the closing traded prices during the ten (10) trading days prior to the conversion request date (the “Variable Conversion Price”). The Company is required at all times to have authorized and reserved the number of shares that is actually issuable upon full conversion of the note. The note is currently in default.
On April 24, 2014, the Company received net proceeds of $33,250 in exchange for an unsecured convertible promissory note that carries an 8% interest rate with a face value of $35,000 (“Second LG Note”), which matured on April 11, 2015. The principal and interest is convertible into shares of common stock at the discretion of the note holder at a price equal to fifty five percent (55%) of the average of the lowest closing bid prices of the Company’s common stock for the twelve (12) trading days prior to, and including, the conversion date. The note carries an eighteen percent (18%) interest rate in the event of default, and the debt holder is limited to owning 4.99% of the Company’s issued and outstanding shares. The Company paid total debt issuance cost of $1,750 that is being amortized over the life of the loan on the straight line method, which approximates the effective interest method. The Company must at all times reserve at least 5 million shares of common stock for potential conversions. On October 31, 2014, the note holder sent demand for repayment. The note is currently in default.
As I said earlier, even if the $900k was gross profit, they'd lose money. And since we know they're just reselling for others, CGS will be very high.
This is just more fluff to cover for a disastrous 10K.
Look for a large increase in toxic debt.
That's incorrect.
Revenue is sales. Same thing.
You're talking about "Gross Profit", which is Revenue less cost of goods sold. That's direct costs - purchasing MJ for sale, distribution, etc.
Net Income (or "profit/loss") is Gross Profit less all other costs.
Hope the poor guy only paid a penny each for them.
Then again, "The Securities and Exchange Commission has obtained a court order freezing more than $27 million in trading proceeds from allegedly illegal distributions and sales of restricted shares of Longfin Corp. stock involving the company, its CEO, and three other affiliated individuals.
According to a complaint unsealed today in federal court in Manhattan, shortly after Longfin began trading on NASDAQ and announced the acquisition of a purported cryptocurrency business, its stock price rose dramatically and its market capitalization exceeded $3 billion. The SEC alleges that Amro Izzelden “Andy” Altahawi, Dorababu Penumarthi, and Suresh Tammineedi then illegally sold large blocks of their restricted Longfin shares to the public while the stock price was highly elevated. Through their sales, Altahawi, Penumarthi, and Tammineedi collectively reaped more than $27 million in profits."
Actually, it pretty much does. The only reasons to post this update are:
10K will be awful
Q1 10Q will be awful
It follows the pattern of posting fluff news before bad news comes out in filings. PNTV has done this for years. Remember the "phase 2 will be done in 6 weeks" PR that came out about a year ago.
Toxic lending is par for most stinky pinkies, which is why they are such awful investments.
Actually, the higher the revenue, generally the higher the toxic loans needed, so look for the Q1 10Q to provide a record amount of toxic debt for PNTV and the stock to head back to sub-penny.
Also, start to plan for a reverse split as the O/S grows once the toxic note holders are able to convert.
30,000% = 300 X 2,979 = $893,700.
That's GROSS REVENUE. Need to subtract out what they paid for the MJ, taxes, etc.
Then cost of selling the product.
Then overhead costs.
Ends up with a large loss and more toxic debt.
It was 30,000 percent and let's hope they haven't resorted to falsifying numbers in the press releases.
As I pointed out though, even if true, it's not going to matter much as we know their gross profit will be tiny because they're just reselling. It could even be negative. Just the fact that gross revenue was the only number quoted shows that every other number is bad.
This is run with the same scammy approach that has been used for a decade by the company.
I do! These P&Ds are great for flipping! Somebody's gotta take retail's money. Might as well be us, right?
So that makes Q1 either $900k in revenue (300X Q2'17) or $230k in gross profit, depending on their definition of "30,000 percent increase".
That would be great, except their operating expenses in Q2, with $3k in revenue and $771 in gross profit were over $1.1 million.
So Q1's Op Ex are probably higher, which means likely a LARGER loss than Q2'17 ($1.1 million, excluding the changes in derivative liabilities). And gross profit may well be lower, since we know they are only reselling others' products.
It's all just more cover for the very bad 10K coming and the additional toxic debt.
Always be suspicious when a company makes a big deal about revenues or gross profit, without mentioning cash flow or net income. A HUGE red flag, even for companies without PNTV's history of "overly optimistic" PRs.
To make your numbers work, you have to assume that outside investors will put in "several billions of dollars" to own 20% of the company.
I'm afraid I don't see that happening.
If you look at the sticky I just posted, you'll see Delfin can retain majority ownership and raise a reasonable amount of equity, $500 million or more. But it will absolutely require a reverse split.
The reality is, outside investors aren't putting 5 or more times the asset value of a company that is years away from revenues to own 20% of that company. Just doesn't happen. The results of a secondary offering have nothing to do with "what Delfin needs". It has 100% to do with what outside investors are willing to value the company at.
NOLs are not available unless the company takes on the business of the company it acquires, and a shell's losses aren't valuable to anyone. Otherwise this shell would have been sold for a lot more than $35k to any profitable company.
I hate to always be the voice of reason (though it's nice to have some company Ed), but ....
Let's looks at Delfin's options.
They can leave the share structure as is and transfer all their assets and liabilities into TGLO (assuming their banks let them). Despite some claims that those net assets are in the billions, they have been paid for entirely by the private capital invested in Delphin, which certainly doesn't exceed a billion dollars. Let's use $300 million (mostly coming from Talisman) as their NAV.
In this first scenario, they transfer $300 million in net assets to TGLO. That's great for current shareholders of course, except for Delfin. They used to own 100% of the assets, now they only own 70.9% of them. So effectively, they have given away $90 million to other TGLO shareholders. Now they do a secondary offering. They have about 100 million shares they can sell which represents 20% of the company. Assuming they're trying to raise at least another $300 million, they need to convince outside investors that a company with $300 million in assets and no prospect of revenues until 2021+ is worth $1.5 billion. That's a difficult sell.
The other option is to do a reverse split. Let's assume 1:100 for argument's sake. Instead of 312 million shares, Delfin now has 3.12 million shares. Of course immediately following the R/S, Delfin still owns 70.9% and other investors own 30.1%. But now they sell their assets to TGLO for equity. $300 million in net assets for 250 million shares. Now they go to the secondary market and sell the remaining 247 million shares in the A/S for $2 or more (depends of course on outside investors), valuing the company at $1 billion or more. However now those new investors own 49% of the company, not 20% and they've contributed significantly more than $300 million to the balance sheet.
The advantage of the first scenario - a lot of love from current TGLO holders. The disadvantages - less money raised, dilution of private assets, maybe a lawsuit from Delfin's investors (Talisman can't be happy).
So .....
LOL, I remember the last "expectation" of PNTV. Here we sit 10 months later.
HENDERSON, NV--(Marketwired - Jun 2, 2017) - mCig Inc., (OTCQB: MCIG), a leading distributor of innovative products, technologies, and services for the global medical cannabis industry and Player's Network, Inc. (OTCQB: PNTV), a diversified holding company operating in media and marijuana, today announce the Phase 1 completion of Green Leaf Farms Holdings, facility in North Las Vegas.
Green Leaf Farms Holdings, LLC (Green Leaf), a subsidiary of PNTV, contracted mCig to develop and buildout their 27,000 sq. ft. facility in North Las Vegas. mCig completed the first Phase of development which included two vegetation and flower rooms, an extraction lab and all the needed infrastructure to support the facility. In addition, mCig worked with the City of North Las Vegas and the State of Nevada to ensure Green Leaf was 100% compliant. mCig has already completed the design, structural engineering and technical specifications for the remaining build out of the full 27,000 sq. ft. facility.
In addition to the completion of Phase 1, mCig is already nearing the completion of Phase 2 out of 3 total phases. Phase 2 is expected to complete in approx. 6 weeks which will add an additional 7,000 sq. ft. of cultivation to the facility.
Indeed, that is a problem. Delfin is the controlling shareholder, so they can do what they like with the shell equity structure.
Remember, they paid $25k for that control. It will be hard to argue that they owe anything to the shareholders who held the remaining $10k in value and had the opportunity to sell those shares for $10 million or more post change of control.
Yup, "In a cash reverse merger shell transaction, the current control shareholders of the public company cancel, or divest themselves, of all their share ownership, and the post-closing share ownership is anywhere from 80/20 (%) to 99/1 (%), with the private company owning a majority of the shares."
I wonder what ratio Delfin will choose since it has millions in assets and the shell has 0. Hopefully they'll let the current shareholders keep 1%, out of the goodness of their heart.
Oh man, they're setting up a disastrous 10K.
Can't say I'm surprised.
Love that word "targeting" and "expects", caveated of course by This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
LOL, flippers don't sell on the bid.
The spread is too wide to get much interest. This looks like it will sit for a while until there's some news.
And the news isn't likely to drive the price up.
Until then, maybe another short-lived hype run? Otherwise, I doubt anyone wants to flip a stock with a 20% spread and little action at either end.
Completely wrong. Delfin is too well managed to violate SEC regs and not report all trades they make in a public company they own 71% of.
Most R/M deals into an OTC shell end up with the surviving entity owning 95-100% of the company. Delfin will reverse split to get to that level before any secondary offering. After they reverse split they will sell whatever assets they have to TGLO for additional equity. Once that is done, they will likely file for a secondary offering.
After the secondary, they may uplist.
Indeed. So many projections about the 10K creating a huge run on the stock and all that happened were some great opportunities to flip free riding shares.
God I love these hype-driven stocks.
Aww, look at the MMs baiting Picasso with dumps into the bid. They better pull that $.1596 bid soon or Picasso may not bite!
So many P'Od buyers at $.175-$.189 today.
LOL, Picasso bit anyway!!! Too funny.
That makes no sense. 50 million shares were traded in 2017 alone, most around .001x. https://ih.advfn.com/stock-market/USOTC/theglobe-com-inc-pc-TGLO/historical/more-historical-data?current=1&Date1=01/04/17&Date2=04/04/18
Another 45 million plus traded at year end for $.032 or less.
So I think it's a good bet the seller made bank when he sold for $.175 .
Looking at the bid/ask/trade price and volume tells you nothing about the seller or the buyer. You might as well be looking at tea leaves.
They bought the most they could from Egan and still leave him with the most he could own without having to report any sales. The remaining shares were held by outside investors. They certainly could have bought them in the early days, but they'd have to report the trades and they would have had to announce a share buyback.
Which is also how we know Delfin, Fairwood nor Talisman is buying shares - they need to be reported quickly on form 4s and there have been no reports filed.
I imagine they're quite content with their 71% and trying to decide if there's a way to monetize their 100,000% profit or if they should just move forward with a reverse split and capitalization of the shell. I don't the former being possible, so I expect it will be the latter at some point. They don't seem to be in a hurry, but they'll need to file an S-1 or S-3 with details on the secondary offering and it's not a quick or easy process.
I wonder if the seller was a recent buyer and only made $4k on the trade or was an early holder and made $30k?
It didn't "just happen". It happened when Egan resigned and Nichols became sole director and employee.
Why would the company continue to use and file under Egan's Florida address? Talk about no sense!
Updates to OTCMarkets.com are not official events. They update that when they feel like it.
Look at the filing on 1/11/18 and note the address of the company 3 months ago.
https://backend.otcmarkets.com/otcapi/company/sec-filings/12474264/content/html
Fairwood Peninsula Energy Corporation
5949 Sherry Lane, Suite 950
Dallas, TX 75225
(214) 369-5695
Loving the dueling 100 share trades between bid and ask now.
Over half today's volume traded at $.175 or above and the ask now below $.16 with bid at $.145.
Looks like some buyers didn't realize the 8K announcing Delfin's purchase of 70.9% of TGLO's stock and the appointment of Nichols who was working out of Fairwood's building would require them to change the company's address when filing the 10K.
On the plus side, another nice flip!
GLTA.
All of that buying frenzy at $.175-$.189 and a few minutes later the ask is back to $.1649 and the bid at $.1402
Who says this isn't a wonderful flip?
Who keeps making all the hype buys? I'm guessing it's not the hedge funds.
Anyone who read the 8K 3 months ago announcing that Nichols was the new Chairman and only member of the board, CEO and CFO.
"Mr. Nichols’ principal business address is c/o Fairwood Peninsula Energy Corporation, 5949 Sherry Lane, Suite 950, Dallas, TX 75225."
https://backend.otcmarkets.com/otcapi/company/sec-filings/12473972/content/html
Being the most active board on ihub following a supposedly monumental 10K, then seeing the price drop and low volume once again confirms that this is a pure ihub play, and one of the least active in trading volume.
Egan did not sell the entire shell. Delfin's purchase of 70.9% for $25k values the company at $35k, as I stated.
For the record, the valuation is now over 1,000X Delfin's purchase price.
"thinly traded stock" and "so much attention" is a contradiction.
There is little attention paid to it as indicated by the fact that it's a thinly traded stock.
It's thinly traded because the only ones trading it are small time traders. Pinkies, let alone shells with $60 million market caps don't attract true investors.
Remember, Delfin/Fairwood bought their controlling position at a market cap of $35,000.