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While I agree those comments are used way too often, unlike other OTCs, this one has assets and much higher likelihood of being able to pay off notes. Proof is in the pudding, so we wait for the PR or filing regarding doing so.
OTC stocks are all momentum. When momentum dies people move on to the next 'hot' stock, regardless of company fundamentals. Then they pay a premium to get back in when the stock starts running again. Personally I'd rather catch the dips, than the chase the rips, but to each their own. Worked out well the first time around, I was able to buy .002s and .003s when nobody wanted to touch it
Thanks, so they haven't moved..probably just another retail happy with selling at 20% loss on the spread.
My L2 hasn't updated in hours..did MAXM and VFIN ever move lower on that dump or was it all retail (CDEL/NITE/CSTI)?
Added some .005 but my L2 is broken so I'm kinda flying blind
No reason to buy this going into a reverse split...zero. Only chance for a profit on the long side buying here is they release a pump PR to boost price before the RS, but that is doubtful.
Yep, bingo. How'd those reserved shares for celebrities turn out?
LOL "Special Reserve". Call it whatever you want, they will eventually be dumped into the market and no buyers to absorb them until price goes way lower post R/S.
Yeah we'll see. I have enough bids in lower to soak at least 1/2 of it up if they decide to just dump it
Nobody cares about control, or what Vanis or you say anymore. What matters here is shareholder value. And it is EXPLICITLY stated that there is a great likelihood it will be diminished.
The proposed Common Stock Split creates a risk that current stockholders of the common stock will see the value of those shares diluted through the issuance of additional authorized but currently unissued shares.
the issuance of the remaining 215,155,598 would have a material dilutive effect upon existing stockholders. These additional shares may be issued in the future for a variety of corporate purposes including, but not limited to, raising additional capital, corporate acquisitions, and equity incentive plans
The Q is actually much better than the first quarter Q..high revs, lower expenses, higher margins.
Only negative thing on I see on it is the additional $134K in convertible notes that start maturing AT THE EARLIEST, January. CEO stated in PR he has a investment firm
I'm sticking with VFIN and MAXM being part of that same 3M restricted block, so ~2M left
Dunno, not complaining. We need another 1-2M to break through the MAXM wall IMO
I'm guessing someone got updated numbers from the TA and dumped the last few days ahead of VFIN popping up, JMO. I like this is as low float lotto once dilution is done but there is no reason to buy it higher yet.
As I thought, I think MAXM has 2-3M left from those restricted and that's it. VFIN = total scare tactic. Is really interesting how MAXM stepped in right when VFIN stepped out. Possible the 3M is being sold off between 2 different market maker routes, dunno..
Joint effort to hold share price back, lol... VFIN stacked 100k orders and now MAXM steps in when VFIN ran out.
Retail trying to scare Share structure hasn't changed.
Straight from the SEC 14c filing for the R/S:
http://ih.advfn.com/p.php?pid=nmona&article=68468692
As a result of the proposal to conduct the Common Stock Split and the fact that there will not be a proportionate reduction in the number of authorized shares of common stock, Minerco will have proportionately more authorized shares available for issuance and therefore, there is a significant risk of stockholder value represented by the common stock being diluted. The proposed Common Stock Split creates a risk that current stockholders of the common stock will see the value of those shares diluted through the issuance of additional authorized but currently unissued shares. The current net tangible book value per share would be diluted if additional shares are issued without an increase taking place in the net book value of the assets of Minerco. The Common Stock Split will reduce the number of outstanding shares of common stock to approximately 34,844,402; however, the authorized shares will not be reduced by the same proportionate amount and will only be reduced to 250,000,000 and the issuance of the remaining 215,155,598 would have a material dilutive effect upon existing stockholders. These additional shares may be issued in the future for a variety of corporate purposes including, but not limited to, raising additional capital, corporate acquisitions, and equity incentive plans. Except for a stock split or stock dividend, future issuances of common stock will dilute the voting power and ownership of our existing stockholders and, depending on the amount of consideration received in connection with the issuance, could also reduce stockholders’ equity on a per share basis. In addition, the Preferred Stock Split will reduce the number of shares of Series A preferred stock outstanding to 150,000 shares; however the authorized shares will remain at 15,000,000 and the issuance of the remaining 14,850,000 would have a material dilutive effect upon existing stockholders.
Share Structure 9/9 - No Change
GREEN PARTS INTERNATIONAL, INC.
NUMBER OF ACTIVE STOCKHOLDERS: 53
TOTAL REGULAR SHARES: 120,544,700
TOTAL RESTRICTED SHARES: 43,733,104
TOTAL SHARES: 164,277,804
No interest = no volume = no bidders. Big blocks such as a million hitting bid will quickly drop the share price. Snagged a few of those personally
Company will continue to be funded at shareholder's expense. There's no room left with their current share structure and price to issue shares. They would need to issue BILLIONS of shares to raise any significant amount of money and nobody would touch it, eventually ending up at .0001. So now they reverse split the stock to make it "look" more attractive and it gives them room to issue shares and the price will have a long way to fall as shares get sold off by the lenders. There is no value here for current shareholders unfortunately.
As the flipping channel from .0011/.0012 starts failing, panic selling from those flip buyers will provide next leg down to .0007-.0008, probably good for a flip back up to .0011-.0012 from there. Only play left here is buying the panic selloffs IMO. Holding long into the RS is surefire way to lose 50%+ of whatever value this stock has left.
How's that breadcrumb trail working out that has been pumped for months? Hows that short squeeze and float lock working out?
Nothing here is positive, stop trying to spin it. This Reverse Split will wipe out 90% of the $ people still have in this stock within a few months.
He's not worth the time...expects GNPT on the OTC with a $1M mkt cap to have a balance sheet like AAPL lol. Ignore it, enjoy life
Closer we get to warrant conversion exhausting the more interest this will gather IMO..volume and price going to increase
Will never see .0017 again, people who loaded 11-12s will flip out at 15 until no suckers are left to buy.
You may get them..VFIN appears to be active today
Longer this churns in 8's the closer we get to the end of the conversions. 5-10 days left IMO..
I think those numbers are a little off, but we'll see. Nobody here can know for sure, it's really just an educated guess. Somebody has enough conviction to buy 500K at a time, they may be smarter than us :)
Chart/volume/price action will tell us when. Good chance we are getting close as a solid bottom is forming. For time being price still gets knocked back down every time it tries to uptick, so resistance tells me there are still sellers around..
I'll have to dive into the cashless conversion math, but it is unlikely all volume is simply buyers absorbing new warrant shares. So while total volume may be 200M, a large portion of that is the same shares being traded over and over (flipped), while newly issued shares for cashless warrant conversions is significantly less.
Close enough...chart appears to be bottoming out. The last 1/3rd will go quick as people load the boat anticipating the end, and the inevitable bounce.
Yep, why buy now at .10-.12 (post RS 100:1) adjustment when you can more than likely buy at .01-.02 (.0001-.0002 pre-adjusted) after RS and dilution brings it down.
I imagine they converted when stock was sitting flat in .004s then ran it up over .01 to sell it all off. So I would guess around a .0025-.003 conversion rate which is $90K converted as you suggest. They will eventually do it again, the company has nothing to do with controlling it, the debt holder can convert any time they want.
So $15K converted from the $30K note? That leaves $165K left between the 2 outstanding notes, or roughly 300M shares at the current price with the conversion discount.
Nothing has changed? Other than losing another $3.8M? LOL
June 30, 2015
Accumulated deficit (10,842,551)
Sept 30, 2014
Accumulated deficit (7,062,440 )
Agreements are fluff until something actually comes out of them, show me the proven $?
Still over $150,000 of convertible debt to be converted from this note too.
Also, in the second half of 2014, we entered into four Securities Purchase Agreements with KBM Worldwide, Inc., (“KBM”) wherein we agreed to issue 8% convertible promissory notes in the aggregate principal amount of $182,500. The notes may be converted into shares of our Common Stock at any time beginning 180 days from the date of the notes at a price equal to 61% of the average closing bid price of our Common Stock during the 10 trading days immediately preceding the date of conversion. In the event we fail to pay the notes when they become due, the balance due under the notes incur interest at the rate of 22% per annum. We are currently incurring interest at a rate of 22% per annum on two of the notes as we are past due on these obligations. The notes contain additional terms and conditions normally included in instruments of this kind, including a right of first refusal wherein we have granted KBM the right to match the terms of any future financing in which we engage on the same terms and contemplated in such future financing. During the six months ended June 30, 2015, KBM converted $30,300 of principal into 5,089,510 shares of Common Stock.
Still over $30,000 of convertible debt can be converted into shares at any time on this note:
In December 2014, we entered into a Securities Purchase Agreement, Convertible Note and other ancillary documents with LG Capital Funding LLC, (“LG”) wherein we agreed to issue an 8% convertible promissory note in the principal amount of $35,000. The note is now convertible into shares of our Common Stock at a price equal to 65% of the lowest closing bid price of our Common Stock during the 15 trading days immediately preceding the date of conversion. The note contains additional terms and conditions normally included in instruments of this kind. During the six months ended June 30, 2015, LG converted $3,500 of principal and $143 of accrued interest into 966,228 shares of Common Stock.