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With the volume so low and plenty available under a dime, it's clear they BS about the PPS going to $ has been debunked.
Now it's just a question of how big the losses are by retail as the large shareholders try to salvage a fraction of their investment without crashing the price - all before the R/S-R/M announcement, or Delfin's announcement of an alternative financing route.
As horrific as the toxic dumping is now, in mid August, it's going to get a whole lot worse.
"Beginning 90 days after May 18, 2018, the Lender may convert outstanding principal and interest on the Loan into shares of common stock of the Company at a discount of between 30% and 50% of Fair Market Value (as defined in the Note) of the Company’s common stock, depending on such Fair Market Value at the time of conversion."
Apparently no one with any investable cash does.
If you look at the anemic volume and sub 10 cent price, I think it's pretty obvious that there is no one who actually believes this is going to a quarter, let alone $.
I would have thought Delfin would have moved forward by now, and I don't know if they're holding off to allow Egan and others to get out, or they didn't expect the massive market cap assigned by retail, or they simply are using this to prod other investors into funding them and they'll just leave TGLO sit as a shell.
But yeah, companies don't hand assets to pinkie investors. That's just wrong.
It's irrelevant for TGLO for sure. It's pretty relevant for Delfin as they're going to find that the billions they need are going to come with a lot of restrictions. Building an untested floating LNG facility is not something banks are going to just hand over billions upfront for without major offsets to the huge risk they are taking.
They didn't make the statement about supporting Korean shipbuilding as an aside. The $1.5 billion will come with that contingency. Count on it.
“Supporting a new order like the Delfin FLNG can be a meaningful project as this would provide work for South Korean shipbuilders, which have been experiencing an order famine, especially where offshore plants are concerned,” KDB said.
https://fairplay.ihs.com/commerce/article/4270061/kdb-provides-usd1-5-billion-financing-to-delfin-flng-project
4.5 million new shares dumped by toxic conversions in the last 2 weeks of May.
Looks to be range bound with new retail blood buying shares from the toxic lenders. As long as demand holds up, look for the 5-6 cent range.
There's an infinite supply at any price, but toxics usually like to run the PPS up to dump, then drive it down again to cover at a greater profit.
Playing along is tricky, but profitable if you can read the patterns.
GLTA.
And the lower the stock price, the more shares of dilution and the more shares converted at a profit.
Which then causes the price to fall and more shares to be issued.
Which then causes the price to fall and more shares to be issued.
Which then causes the price to fall and more shares to be issued.
Hence the term "death spiral"
Those toxics will keep dumping. They have a LOT of debt to convert and more coming every quarter.
It's always tough on these hype story stocks when reality sets in.
Easy to check if you have device with the code on it.
https://www.fcc.gov/oet/ea/fccid
I do remember how it was "only going up" from $.23. "Finally breaking out","$$$". Then,
Then when it bounced off a nickel again and got to 14 cents, "here we go", "to da moon". Then, once again,
So you'll forgive me not getting excited about a few days bounce that's having trouble sustaining anything.
Remember, lower highs and lower lows. And of course, "Timing, timing, timing".
The most important growth figure is net income.
PNTV's is falling.
Gross profit is important, but only if you can get to net profit and PNTV's gross profit is currently negative which is horrible.
PNTV's providing "expectations" only for revenue is a huge red flag.
And don't forget the crushing toxic debt load they carry. Not only does that increase the negative asset value, it's a huge drag on the stock price and creates major dilution.
When you see PRs about revenue, with no mention of cost ESPECIALLY from PNTV, be suspicious. Be VERY suspicious.
Last quarter they had record revenues and their DIRECT costs EXCEEDED those revenues, resulting in a HUGE NET LOSS, MORE TOXIC notes and the largest working capital deficit in company history.
Not when the 50 day MA is dropping.
Especially when the closes are mostly paint jobs.
But falling below the declining 50 day MA is a very strong sell signal.
Of course the problem as always is the toxics. They can do better by driving the price down with selling because it reduces their covering cost and increases their profit on earlier dumps.
A falling PPS and lots of toxic debt is a VERY strong negative indicator.
I don't root for doom and gloom, I just call it out when I see pump and dump scams. Some might choose to ignore the signs, but at least I've put them out there for all to see.
LOL, with the 50MA dropping toward zero, I bet they have lots of "encouraging" days ahead.
That of course is a consequence of "lower highs and lower lows" and we all know what that indicates.
OMG, they're trotting out the "platform" that was going to revolutionize cable TV ad insertions again to pump the stock. Gotta give them credit for balls. Too funny.
"WeedTV will launch on its proprietary mobile apps within the next few weeks and will soon thereafter follow with its extensive web platform that offer a major marketing tool for the cannabis industry."
MCIG is overvalued.
PNTV is even more overvalued.
MCIG has profitable revenues. Their last quarter was a net loss, but at least they had a decent gross profit. They have $2 million in POSITIVE working capital.
PNTV has negative gross profit (it cost more in DIRECT costs to produce the product they were able to sell) and lower revenues. They have MASSIVE toxic debt. They have hopes, dreams and "expectations", but a horrific track record on that score.
So between MCIG's $100 million market cap and PNTV's $33 million market cap, I'd go with MCIG having the best chance of increasing in the long run, but frankly, I think you'll see both continue to decline.
C'mon stop baiting poor Picasso with these $1 sells.
Boy with all the stock promotion going on and the big buyers, you'd think there'd be an increasing PPS on high volumes.
Instead it continues to drift down on low volume.
Very odd.
Maybe in "two weeks"???
Lack of promotion has never been PNTVs problem. It's too many years of pump and dump and dilution.
The existence of other successful OTC pump and dumps are greatly overshadowed by the many more that fail.
I think it would be more accurate to say "their first quarterly profit, ever in the history of the company".
and of course they've "targeted" a lot over the years, but never hit the target once.
The one thing we know for sure is there will be a record amount of dilution from toxic notes.
If Delfin is buying or selling stock and not reporting it as required by SEC regulations then look out below - that would indicate they are scammers.
Only way to get rid of shares with so much toxic debt is to sell into the bid before the toxics do.
LOL, ridiculous. They have probably less than $100k in gross profit, which won't even cover their overhead and $3 million plus in toxic notes, with another $4 million coming.
I would suggest getting as many past employees as possible into a class action lawsuit. At the very least, it sounds like employees should share in a portion of the purchase price paid to buy the shell and have some ownership in the new equity.
After their BS game with the last revenues PR (called out correctly by me) where they actually lost money on a GROSS profit basis, they'll need to do more than spout about revenues. They'll need to provide some profit figures and explain how they will pay $5 million over 4 months without massive toxic debt levels.
Any company not based in Texas (or any particular state) but wanting to do business in that state is considered a "foreign" company and must register as such.
Yup, reminds me of another toxic P&D I've posted on - IHSI. They did a similar deal to acquire a "profitable" operation using toxic notes.
Of course the company wasn't profitable, its revenues were far less than projected and they couldn't pay the balance of the loan.
They are now sitting at $.0001 and dark and suing the toxic lender. It's likely they end up not owning the company they acquired, but still on the hook for huge toxic notes they can't repay.
As I said when they announced this, companies that throw off profits and positive cash flow don't sell to OTC companies that need toxic notes to buy them. Even the story of the seller not wanting to run the operation turned out to be BS as the contract calls for the seller to keep running the facility.
Oops, another seller jumped in with 50k at a lower ask.
Toxic race to dump.
100k on the ask. I think I smell some toxics.
LOL, not always, but more often than not, especially when it's a toxic pump and dump.
Thanks!
Congrats to those who also recognized yesterday's PR pump and the need for the large longs to pump up the price with buys. It was a nice day to take profits.
Need to be patient for those "lower lows" now that we've seen the lower highs.
And therein lies our difference. I took the opportunity to flip out for a nice profit.
Now we'll just have to wait and see where it goes from here.
Excellent. Taking away some of the toxic lender gains is a noble cause. Retail is going to get suckered even when you show them the problems, but every $1 taken away from the toxics makes their lives more difficult.
Fight on and PROFIT!
$5 million in toxic notes in 5 months? Maybe, but the dilution will be brutal.