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OTCX is NOT a buying group. It's a buy side trading platform.
https://www.otcxtrading.com/
What's more amazing to me is that nowhere did they disclose this litigation by RAI, yet here is a court ordered settlement of $400k in debt with a major toxic dilution of shares.
And this accounts for $400k of the $1.4 MILLION in AP and accrued expenses that they had on the balance sheet 3 months ago, with only $65k in cash. This is also one more indication that the company is getting no cash from Comcast.
The BS that the company is "transparent" has been shown to be false once again.
That's 30% gross margin, then there's the overhead costs.
And I'd take the $330k/month with a grain of salt. That's $4 million/year in gross profit.
No one sells a company throwing off that sort of cash for $5 million.
LOL, I sense serious regret for not listening to my warnings on this pump and dump.
Watch out for those toxic lenders next time.
Too funny.
Can't speak for anyone else, but for me it's a combo of being right on the call for this PnD and for shits and giggles.
I guess for this pump and dump, $200 is pretty awesome volume.
They can sell $75k in any 12 trading day period. There is no daily limit. At the current PPS that's about 1.5 million shares. If the price falls to $.03, it's 2.5 million shares. At a penny it's 5 million.
By itself, not a huge amount, but taken with all the toxic note conversions, you won't see retail able to sell at a gain. In addition, since this note is also converted at a discount to market, there's a lot of folks with an incentive to see the price drop in order to maintain volume.
Looks like the pump and dump is fading fast.
Average Daily Volume
last 6 months - 1 million shares
Last 3 months - 355k shares
Last month - 218k shares
Last week - 74k
Friday - 25k
A lot of folks who bought and held are hurting big time with the stock 50% off the 100 day MA (time since the Delfin announcement).
Congrats to fellow flippers who saw the handwriting on the wall.
You're misreading. The 13 million shares represent the entire payoff based on an estimated share price of $.038 (13 million x .038 x 80% = $400k)
The 38.9 million shares reserved are to cover the payoff if the average price during the calculation periods is less than $.038.
The 229 million is the number of shares the company has left before it maxes out the O/S that are not already reserved for some other purpose. It has no bearing on the payment.
That said, the price is likely to continue to fall with $75k of shares being diluted every 12 trading days.
And of course, there's still the existing toxic notes, the $2 million in new notes issued over the last 2 quarters and the $5 million in toxic notes for the Cali purchase.
All in all, I'd say standing back after liquidating any existing positions is the right move as this is going to continue it's accelerating decline and likely heading for a reverse split.
LOL, someone dumped 1 share at the bid to lure out Picasso, but he wouldn't bite.
And it's a Friday. Even Picasso must have given up.
Too funny.
Those big dumps right at the close of 200k and 150k shares below the bid are sure signs of toxic notes being converted.
Maybe Monday we'll get an updated O/S count on OTCMarkets.com
I would say EXACERBATED by Cali Purchase ($5 million more in toxic debt).
That's wrong.
There is an absolute requirement to disclose monies paid to them and they can't call them "revenue" or something other than what they are. You can't hide funds on the balance sheet when you file with the SEC. So no money has been paid through the last filing date and it's pretty clear none will be.
And you can bet Weed TV isn't showing up in the Comcast line up.
Oldest toxic lender trick in the book. Put up a huge buy which they know no one will sell into and take a loss. They make it seem like there's news to get some buyers for their toxic shares at $.0002.
Don't fall for it!
The best the TCA lawsuit will produce is TCA getting paid back and Cresent reverting back to it's owners.
Devon will say "we won", do a reverse split and take on new toxic debt to keep the old company going.
And that's the best case.
It wasn't quite that high, but I did net a few flips over 1,000% gain.
I wonder who feels worse, the average buyer at $.10 or the ones who didn't sell at $.20+.
That's the nice thing about flipping. No regrets and a bunch of free shares.
To each his own.
I recall hearing what a great buy the stock was at 20 cents.
And that was before millions in new toxic notes started getting converted.
I was glad to take some of the profits away from toxic lenders, but those opportunities are closed now.
Sub-penny, maybe. Depends on how aggressively the lenders convert.
I know we all know it's a toxic pump and dump, that's why we flip it.
It's still not buying time - wait until all the toxic notes convert and it goes sub-penny again.
Of course you can stick with buy and hold, but as I've shown, those buying over the last year are down an average of 50%.
500% is peanuts for a big pump and dump like PNTV. Sub-penny to 23 cents, it rarely gets better than that.
Right here.
https://ih.advfn.com/stock-market/USOTC/players-network-the-PNTV/historical
The flippers are the ones who made money on this pump and dump. I know 'cause I'm one of them.
The average PNTV investor is now down about 50%.
WVAP over the past 12 months is $.10
About 500 million shares (roughly 1.2X the float) has traded in that time.
"Lucrative deals pending". ROFLMAO.
This fluff should have been titled, "Please don't add your shares to the half a billion already being offered for sale at $.0001".
Too funny.
DRNK Facts:
- DRNK is "Dark or Defunct" on OTCMarkets.com
- Even OTCMarkets.com has no idea what the O/S on DRNK is now and the T/A is gagged. It was over 9 BILLION more than a year ago. And voting is controlled by preferred shares.
- The stock is at no bid with 274 million shares SHOWN for sale at $.0001
It's ranked #3021 in Health & Household > Vitamins & Dietary Supplements > Multi & Prenatal Vitamins > Multiple Vitamin-Mineral Supplements on Amazon
(that's the 6 ct, the 12 ct is ranked 4174)
It's pretty clear that if they manage to emerge from "defunct" before the SEC shuffles them to the Grey's, it will be to do a reverse split and start again with a new pump and dump.
LOL, next trade of 5 million shares or more at $.0002.
NEVER.
Damn, I was all set to buy those 97 million shares at $.0002 when I saw all the volume at $.0002 was $5 trades.
Too funny.
LOL, check the financials. Even if they get the revenues they "hope to get", there's millions in costs. Their first revenues came at a negative gross profit, meaning it cost more to produce the revenues than they were able to sell them for. Then they have the massive overhead, the interest on toxic loans and the dilution to contend with.
They are in desperation mode now, just like IHSI was with their $5 million acquisition. If someone is sitting on a gold mine of positive cash flow, they don't sell it for $5 million to someone who needs toxic funds to buy it.
What a toxic POS.
1 year VWAP - $.0001
3 year - $.0002
5 year - $.0003
https://ih.advfn.com/stock-market/USOTC/noho-inc-DRNK/historical
Just as the $350k dumpage ends, the $1.1 million in first toxic note for the acquisition begins. Then a month later, another million $ will come up for conversion.
Unfortunately, it look like these toxic note dumps will continue through most of next year.
There's a reason all anyone hears about is "revenue". Not a word about profit or cash flow.
Thanks for agreeing Picasso painted the PnD.
Didn't need to. Picasso painted at 3:27 and there's so little interest in this, there were no later trades.
But, yeah, it is pretty hilarious when poor Picasso spends $45 on a trade and has to pay a commission just to bump the PPS up by half a cent. Then again, it's probably worth it to keep the wife from kicking his ass.
Picasso hitting those $45 buys hard at the close.
Too funny.
Retail got pwned.
Again.
Oh man, think of the games the $400k dumper can play with this provision.
"80% of the arithmetic average of the individual volume weighted average prices (“VWAP”) of any five trading days selected by Plaintiff during the ten trading days preceding each applicable Calculation Date (all as reported by the OTC Markets). "
Of course the toxic lenders have been playing these games forever on PNTV, but now it gets much easier to game, especially if the seller uses others to judiciously buy and sell shares to move the PPS.
Just when everyone thought PNTV couldn't come up with another way to screw shareholders...
Looks like this rocket has crashed again.
It's a LOT more than 8 million shares.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=141500296
Looks like it goes sub-nickel on today's dilution news.
LOL, yes no doubt the experts at the oil company owner didn't realize the pipes they had mothballed were worth hundreds of millions and would continue to function for decades.
Too funny. I think I'll stick with the opinion of the experts that actually have detailed knowledge of the pipes' condition and value.
For a stock that trades an average of $100k/day, that's a lot of dilution. And of course toxic notes are another $2 million plus at a large discount to the market price.
This is going to take quite a while to clear and since the number of shares increases with the falling PPS, it looks a lot like another toxic note, except these shares will need to be dumped as soon as they're issued. And just as all these shares are issued, the $1.1 million new toxic note becomes convertible.
6. In full and final settlement of the Claims, Defendant will issue and deliver to Plaintiff the sum of 13,298,837 shares of Common Stock (“ Initial Issuance ”) and reserve for the benefit of Plaintiff 39,896,511 shares of Common Stock, subject to the subsequent adjustments, issuances, returns, and ownership limitations set forth in this Stipulation. No later than the trading day after entry of the Order or any request by Plaintiff, time being of the essence, Defendant shall take and cause to be taken all action necessary to complete the transactions contemplated hereby, including, but not limited to: (a) deliver to Defendant’s transfer agent (i) a copy of the Order, (ii) an irrevocable and unconditional instruction, in form and substance acceptable to Plaintiff and the transfer agent, to reserve for and issue to Plaintiff all shares of Common Stock required by the Order, and (iii) opinions of Defendant’s counsel, in form and substance acceptable to Plaintiff and the transfer agent, that all shares of Common Stock to be issued pursuant to the Order (A) are legally issued, fully paid and non-assessable, (B) when issued in accordance with the Order will be unrestricted, freely tradable and exempted from the registration requirements under the Securities Act, and (C) may be issued without restrictive legend and immediately resold by Plaintiff without restriction; (b) issue the Initial Issuance, as a certificate bearing no restrictive legend, and immediately facilitate conversion into Direct Registration System (DRS) shares to Plaintiff’s balance account with The Depository Trust Company (DTC) or through the Fast Automated Securities Transfer (FAST) program of the Deposit/Withdrawal Agent Commission (DWAC) system, without any restriction on transfer or resale; and (c) execute and deliver all further instruments and documents as may be reasonably requested by Plaintiff. The issuance of a certificate alone shall not constitute completion of the Initial Issuance. The trading day after the Initial Issuance is complete and all shares have been received into Plaintiff’s account in electronic form and fully cleared for trading shall be referred to as the “ Issuance Date .”
7. Each of the following dates shall be referred to as a “Calculation Date”: Issuance Date; June 15, 2018; July 6, 2018; July 27, 2018; August 17, 2018; September 7, 2018 and September 28, 2018. The final number of shares of Common Stock to which Plaintiff will be entitled under the Order (“Final Amount”) will be sum of (a) one-seventh of the Claim Amount (b) divided by (i) 80% of the arithmetic average of the individual volume weighted average prices (“VWAP”) of any five trading days selected by Plaintiff during the ten trading days preceding each applicable Calculation Date (all as reported by the OTC Markets).
8. After the Issuance Date, and until the date that is 12 trading days following the last Calculation Date, Plaintiff may sell no more than an aggregate of $75,000 (net of trading commissions and expenses) of Defendant’s common stock every 12 trading days except that on any given day where Defendant’s common stock trades over $150,000, Plaintiff may trade up to an additional fifteen percent (15%) (net of trading commissions and expenses) of that day’s trading volume. Additionally, if at any time prior to the last Calculation Date the aggregate number of shares issued to Plaintiff are less than any reasonably possible Final Amount then Plaintiff may request that Defendant reserve and/or issue additional shares of Common Stock (each, an “ Additional Issuance ”) within one trading day, time being of the essence, and Defendant’s transfer agents, attorneys, officers and directors, including without limitation Mark Bradley and Geoffrey Lawrence, shall immediately take all actions necessary to do so. For each day after Plaintiff requests issuance that shares are not, for any reason, received into Plaintiff’s account in electronic form and fully cleared for trading, Plaintiff may trade up to an additional fifteen percent (15%) (net of trading commissions and expenses) of that day’s trading volume notwithstanding anything herein to the contrary (“Waiting Trades”) and Defendant shall additionally be responsible for payment of a penalty of $1,000.00 per day, payable to Plaintiff, until such delinquency is cured.
https://backend.otcmarkets.com/otcapi/company/sec-filings/12810741/content/html#EX10-1_HTM
LOL, go to your local car dealer with a 2000 Ford Explorer and tell him you'd like $32k because that's what a new one costs.
The pipes Delfin bought had outlived their useful life and were costing the owner money to maintain. It would have cost more to dismantle them. Instead Delfin bought them for a reported $43 million.
Bottom line: The value of something that is mothballed is not equal to the value of that item when brand new.
$400k in stock dilution. Holy chit!!!
On top of the $1.1 million in toxic notes convertible at 50% off retail.
What a chit show.
Companies don't build 15 year old decommissioned pipes.
Because PNTV made that a condition of the settlement of course.
Comcast was happy to end it without any payout. They don't care if it PNTV wants to keep it confidential, they didn't even mention it to their shareholders it was so meaningless to them.
This is not PNTV's first time creating hype to keep retail buyers on the hook so toxic lenders can keep reeling them in.
There's a reason it's called a death spiral.
The company has greatly accelerated the growth in toxic notes, and the terms are getting much better for the toxic lenders.
A toxic lender makes far more profit converting shares than getting paid back, so they'll do whatever they can to make sure they convert their loans. In fact, they only make loans to companies they know won't be able to pay them back.
If PNTV had a realistic shot at showing positive cash flow, they would have gone to any number of private investors or even a few state banks and gotten a nice loan with a high interest rate (just like the toxic notes), but without the toxic conversion feature.
So it's pretty clear this latest "acquisition" is just going to require even more toxic notes than the $1.1 million they just inked with a conversion at a 50% discount to the market.
https://www.forbes.com/sites/debraborchardt/2017/05/26/here-are-the-top-5-financial-leaders-in-the-cannabis-industry/#6446cc2e2486