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GRCYW...accumulated a position......
PIHG...business plan from LinkedIn account......
Based on the business plan description on the recently-created PIHG LinkedIn account, it appears the company will provide financings/investments for other businesses. Since the business plan seems to be somewhat similar to what the previous owner had, and a PIHG-related website was recently registered and brought online, I would assume that new President Simon Littlewood probably plans on keeping the current name.
FINRA seems to be turning what should be just very simple name/symbol changes into a lengthy process/ordeal for companies. So keeping the name the same is just one less headache that new management would have to deal with.
STJO...position status......
I'm still holding my full position as the March 15 soft deadline for the definitive merger agreement approaches. A little over 660K shares with a cost basis under .072 per share.
High risk, but I am hoping to get a minimum of 40-75 cents on that position. That would be a valuation of roughly $5-10M on STJO's 13.4M legacy shares.
If the post-RM structure is reasonably good, I think STJO might have a decent chance at seeing some sustained trading around those kinds of prices/valuations.
AMRR...website has been updating recently......
I picked up some shares at $2.20 today for the move back toward $3 or higher. Over the last week or two the corporate website has been fleshed out a little more (services offered, client list, etc.), so I am anticipating the stock should be getting closer to additional catalysts......
https://multibandglobal.com/
HLTT(.30)...Varian Biopharma going public via SPK SPAC......
Q1 2022...another good quarter......
TCRI...legacy valuation area has produced previous winners......
As I have mentioned in previous posts on this message board and others, I like to use legacy shares and legacy share valuations in my analysis of shells and reverse mergers. For a number/variety of reasons, I have found the use of legacy share/valuation to be extremely helpful in the world of shell/RM investing.
At the risk of having egg on my face if TCRI doesn't turn out the way I expect, it might be worth noting that TCRI has been churning/basing around a legacy share valuation area that has produced some previous, very nice shell/RMs in the last year or so. It certainly doesn't happen in all instances, but sometimes in the life cycle of big shell/RM winners they will churn for awhile somewhere in that $7-15M range (usually it seems to be right around $10M, give or take a couple million dollars). That is basically where TCRI has been churning for awhile now.
I picked out 3 crypto reverse mergers (APLD, MTRT, BOPO) and one non-crypto play (ENGA) that I think most shell investors are familiar with. It should be noted that both MTRT and BOPO have managed to have their recent big moves in what has been a difficult time in the market (inflation, geopolitical conflict, etc). Below I will put their legacy share number and what their legacy share valuation reached after the churning ended. These numbers are mostly from my memory, so they might be slightly off......
APLD -- 9.5M shares, over $50M
MTRT -- 7.5M shares, over $70M
BOPO -- 45M shares, over $40M
ENGA -- 24M shares, over $115M
One other thing that all of those shells shared in common is a retail shareholder base that was a little frustrated/unhappy with the churning period. Nobody (myself included) enjoys sitting through a period where the stock bases, but if TCRI follows the pattern of some of these other extremely profitable shell/RM investments, the gains from this level could be somewhat interesting. This is contingent on TCRI's legacy share count being 10M, of course (see the above post).
BitZERO expected to IPO this year......
Phoenix/Cypher conference appearances on February 22, March 9.......
Both Bijan Alizadeh and Vineet Budki (Cypher Capital CEO) are listed among the speakers at the upcoming Global Blockchain Congress on February 22. Vineet will also be a panelist at the Global Tech Innovation Summit on March 9.
I have included links to a couple videos of Vineet Budki representing Phoenix/Cypher in previous conference settings. Much like Munaf Ali, Vineet seems to be reasonably comfortable with public speaking.......
QMEI...strategic business partnership on February 12.......
QMEI and the Malaysian Islamic Chamber of Commerce entered into a strategic business partnership/cooperation on February 12. Esther Law and the CEO attended the signing ceremony. This agreement should improve/strengthen the growth prospects in Malaysia and also help with the expansion into other countries.
From the statement issued by the President of the Chamber of Commerce.......
QMEI(.929)...accumulated a position......
Accumulated some shares of QMEI over the last 5 trading days, roughly in the 70-91 cent range. Currently averaged in a little under .895 per share. Risk/reward looks somewhat interesting to me under this $1 price level. Should be seeing a couple of quarterly reports (Q1 and Q2) filed over the next couple/few months. I think the explosive potential that QMEI exhibited a couple of months ago still exists here, so I want to have a position built ahead of the next move/spike higher.
Khong Soon Lim (QMEI CEO) briefly appeared in a couple of videos on January 21/27, and some of the comments/statements he made are the reason why I have taken a position here. Let me preface my comments below with an acknowledgement that I may have misheard or misinterpreted his statements. The combination of poor internet connections and heavy accents in these videos make it somewhat excruciating to watch and difficult to completely understand these videos. And using the closed caption feature on the videos can only help so much.
Having said that, these are the things that caught my attention......
1) It is very obvious that QMEI plans to uplist this stock to the Nasdaq at some point. This was repeated a number of times, and not only by the CEO. I believe the CEO is well aware of when QMEI would first become eligible for an uplisting (which would be around one year after the RM, unless they choose to do an accelerated uplisting). When he was talking about the timing of the Nasdaq uplisting he used the words "six months", which would be right around that one-year post-RM time frame.
The CEO said he expects QMEI to see a share price around $6-8 this year. Over the next 3-5 years he expects the share price to reach $100.
2) QMEI is planning to acquire a gold refinery.
3) He mentioned something about a "shop merchant" program or business that will begin next month. I'm thinking this might be some type of digital payment system/app that retail shoppers can use, but I'm not entirely sure what he was referencing there.
4) In both of these videos, the CEO mentions that February 22 will be an important date. He called it a "big event" or "big announcement". Again, I am not sure what he might be referencing, but there is a possibility that this might be in connection to QMEI expanding its platform to more countries. He mentioned something about wanting/expecting 40 countries this year and 60 countries in 3 years.
Here is the link to the videos. They are the videos that have the word "opportunity" in their titles.......
https://www.youtube.com/channel/UC9b3WWAha9CiqhLftCAavLw
Also, it might be worth monitoring Esther Law's Facebook page (she is the co-founder and CFO of QMEI). Once in awhile you might run across an interesting tidbit of information or some behind-the-scenes stuff related to QMEI by following Esther. I have been following her account long before I became interested in QMEI, since she has some loose connection to another China quasi-shell I own. Esther is a very hard-working, impressive lady......
https://www.facebook.com/lawleepoh
Bijan Alizadeh has been interviewed by Irina Heaver......
Irina Heaver is a well-known, well-respected attorney/advisor/investor in the crypto industry, specializing in the geographic regions of the Middle East and Europe. Last Friday (February 4) she tweeted that she has done a video interview with Bijan.
She did not mention when the interview will be released, but from what I understand the interviews she has been doing recently are part of a series of interviews that are being filmed in advance of the upcoming March crypto summit in Dubai. Irina is among those who are expected to be speakers at that summit.
Based on the tweet, the subjects of the Bijan interview were Phoenix's mining facility in the UAE and the venture capital side of the business......
💕🚀🚀🚀🚀💪
— Irina ₿. Heaver (@IrinaHeaver) February 4, 2022
Bijan Alizadeh Fard...Jax.Network advisory board......
During the week of December 20, Bijan Alizadeh Fard (Phoenix Technology Chief Operating Officer and Co-Founder) was appointed to the Jax.Network advisory board. Most likely the people from Jax met with Bijan/Phoenix during the World Digital Mining Summit in early November. Following the Summit, Jax posted a picture taken outside of the Phoenix booth.
Announcement from the Jax December 24 weekly update......
This week, another brilliant person joined our advisory team and therefore you can expect lots of interesting collaborations in the future. We also continued to wrap up our DeFi products. https://t.co/a01j8Ox1im
— Jax.Network (@CommunityJax) December 24, 2021
Excellent Q4...revenue growth accelerating......
Based on the Q4 2021 numbers and the general "vibe" I get from reading accounts of the marketing/financial conferences and meetings, it does appear that business momentum is accelerating. All of this is being accomplished with the company basically having one arm tied behind its back because of the pandemic. The company has had to place most of its focus on its e-commerce platform, rather than the implementation of its smart kiosk growth plans.
The Q1 2022 report is due to be filed in about a month. Should be interesting to see if those fourth quarter numbers are an indication of good things to come.
A comparison of Q3 2021 and Q4 2021 revenue and deferred revenue for CXKJ. It might be worth noting that during the fourth quarter CXKJ showed a profit from operations of $497K........
Q3: Revenue -- $452K Deferred revenue -- $1.78M
Q4: Revenue -- $2.96M Deferred revenue -- $3.12M
RINO(.07)...increased position......
Messaben website under construction......
It appears the Messaben website is undergoing some construction/updating. I think this started sometime Friday/Saturday. Should be getting relatively close to some type of news or additional corporate activity related to the reverse merger.
The cached page for this website on January 7 (right before it entered construction mode) contained the following text.....
Reply to private message regarding position status.....
Phoenix/Bitriver 300MW capacity agreement.....
I picked up another 20K shares at 20 cents following my last post on this board. Currently holding a little over 852K shares at an average a little under .096 per share.
It looks like TCRI is churning nicely around this $5-7M legacy share valuation area. Depending on the caveats/risks I have mentioned in previous posts, I think the chances are pretty good that TCRI will see the kinds of legacy share valuations that some of the other notable OTC crypto/blockchain stocks saw during 2021. I don't see any reason at the moment (fingers crossed) that TCRI can not achieve a share price of at least $2-5 (which would be a legacy share valuation in the range of $20-50M). APLD, MTRT and ARAT all saw legacy valuations above $30M last year.
The strong likelihood that TCRI could be destined for a Nasdaq listing should make it much easier to reach and sustain those kinds of numbers. Things seem to be looking a little more favorable for OTC stocks recently, seeing slightly better reactions to merger/acquisitions and more explosive kinds of moves.
Regarding the Phoenix/Bitriver agreement: A few days after the World Digital Mining Summit, Bitriver revealed in some of its social media accounts that Bitriver had entered into an agreement to supply Phoenix with 300MW of capacity. Based on the timing and how the announcement was worded, it appears 150MW of that amount would be available to Phoenix basically immediately. The announcement was made on Bitriver's Twitter account, its LinkedIn account, and Bitriver's CEO Igor Runets included it in his LinkedIn account........
During the WDMS, Bitriver have signed an agreement with Phoenix to supply 300 MW of capacity: 150 MW will be provided in 2021 and 150 MW by the end of 2022.
— BitRiver AG (@BitRiverMining) November 13, 2021
All the energy, which is 100% green will be used for hosting mining equipment. pic.twitter.com/BX32Hz7tTL
RINO(.059)...accumulated a position......
I accumulated a position in the RINO shell today in the 4-6 cent range. Currently holding 255+K shares at an average under .0574 per share. Although my cost basis is a little bit higher than I would have preferred, the risk/reward looks fairly good to me. Never can be sure how long the overhead supply of shares will persist, so I prefer to build a position as rapidly as possible while shares are available at what I consider a reasonable price.
The timing for entry/accumulation on RINO might be close to being optimal, with the custodianship terminated a couple of months ago, the stock achieving current status, and the issuance of the 200M block of shares earlier this month (which would suggest that a significant corporate development may have occurred).
CNGI...increased my position......
Added a few shares at 10 and 25 cents today. I think 25-30 cents is the most I have ever paid for CNGI. Currently holding 334K shares at an average of .0464 per share. Although it is a low-float kind of situation here, I'm still somewhat surprised at just how difficult this stock can be to accumulate at times.
It looks like management is hinting at possible increased corporate activity in the future, and seems intent on maintaining CNGI's filing obligations. The statement about "exploring capital investments" and "listing on a major exchange" got my eyebrow to raise a little bit, considering Joseph Donahue's 40-year background in corporate finance.
Definitely high risk, but certainly seems like a very interesting/intriguing stock heading into the new year of 2022.
Medigus corporate presentation...Cortex numbers......
KingsKnight...added to my position......
Phoenix 2022 hash rate comparison......
CTON...position status......
I'm still holding my full CTON position (possibly into the month of January) in case there is a large spike. The situation is not ideal, but the stock still looks like it is fairly tightly-held and I could see it make some type of a momentum run into or over the $1-2 price area. It probably would not take a large amount of buying to move the stock sharply higher.
The company has been making some design changes and updates to its website and social media accounts over the last few weeks/months. So my guess/hunch is once the merger is completed there might be a more aggressive/visible news flow coming from the company. Starting to see improved market/investor responses to OTC stocks that have merger/acquisition activity, so perhaps that bodes well for stocks like CTON.
According to the printed material (Notice to Shareholders) I received the other week, the deadline for shareholder dissent was December 9, and the effective date of the merger was "on or after December 10, 2021". So the merger could be completed/announced at just about any time now.
VBIX(.06)...accumulated a position......
Picked up some shares of VBIX in the .056-.06 range today. I'm thinking this probably has a decent chance at seeing another strong move from this 5-10 cent area. I haven't gone through the filings in great detail, so I'm not certain if there are any convertible instruments (warrants/options) still on the books, but a cursory glance leads me to believe the initial post-acquisition structure will probably be somewhere in the 350M to 425M range.
The Medigus (Nasdaq: MDGS) press releases from this year disclose the revenue numbers for Gix Media (Linkury Ltd.) and Cortex Group. If those numbers are accurate, it is possible VBIX might show some very sizable revenue numbers after this transaction is completed.
According to the first press release below, Gix Media (Linkury) had $38M in revenue during fiscal 2020. One thing I find very interesting is the statement in the last press release below with regards to what kind of revenue that Cortex Group is producing this year. That Q3 revenue number is particularly eye-brow raising. I don't know if there is some sort of seasonality or an extraordinary event involved there, but it certainly is an interesting increase versus what the company posted in the first half of 2021......
New CEO...I'm still expecting a 2022 Nasdaq listing......
TCRI(.115)...added to position last week......
Neftlink......
Since my last post I have added more shares to my position in the .06-.065 range. Currently averaged in at .077 per share. One thing I have noticed recently is that both Rami Bakir and Khalil Ouar are following Neftlink on LinkedIn. Both men and several relatives of Rami Bakir also liked a LinkedIn post on the Neftlink profile.
All of that could be meaningless. Or it might suggest that Neftlink could have a connection to Messaben, since there is a section on the Messaben website that apparently involves "investments".
This is the business description of Neftlink from its LinkedIn profile page.......
Becoming very uncomfortable with this investment......
KingsKnight...present/future share structure.......
TCRI(.09)...couple of items, increased my position......
HLTT(.40)...large reduction in fully-diluted shares......
The changes HLTT made to its preferred share structure(s) should significantly improve the chances of HLTT attracting retail investor interest and potential financings. One of the biggest negatives that this stock had since the reverse merger and change of business direction took place was the very high fully-diluted share count.
Should be interesting to see how things proceed from this point forward. The company does seem to be making a concerted effort to make itself structurally more shareholder friendly. Dilution from the Preferred A shares has now been dramatically reduced. The Preferred C shares were eliminated with these amendments (although there were no shares of these issued, that series of preferred shares did have a floorless conversion). All of the floorless convertible notes were converted at 20 cents back in May. Unrestricted share count remains at about 3.2M shares.
Possibly worth noting: HLTT currently owns 5.5% of privately-held Varian Biopharma. I think Varian is preparing to become a more visible company during 2022. It made what I think is its first ever public presentation for the investment/capital markets this week (at the Inflection Partners 2021 Virtual Conference).
Below are the changes made to the HLTT preferred shares......
All of the previous debt was forgiven...increased my position.....
Legacy share valuation, Nina Ali.......
I bought some more shares yesterday in the .067-.081 cent range. That brings my cost basis down to just slightly over 9 cents per share. That is a legacy share valuation of around $900K (10M legacy shares at 9 cents) on a shell where management has already confirmed that the shell will be involved in the crypto/blockchain sector. For definition purposes, the legacy shares are any shares that are not owned/controlled by the incoming RM target.
A comparison to some of the more notable crypto-related shells/RMs in the last year or so highlights why I think TCRI looks extremely attractive from a risk/reward standpoint. MTRT, APLD and ARAT had legacy share positions ranging from 7+M to 10+M shares. All three of those shells/RMs achieved legacy share valuations over $40M (40x what TCRI currently trades at). The RGST shell recently made a move into the crypto/blockchain/NFT sector. Although the press release didn't provide enough information to determine what the exact number of legacy shares will look like, there will probably be a minimum of 13-14M legacy shares (most likely higher than that). RGST has seen a valuation of over $8M on those legacy shares.
So TCRI at a legacy share valuation under $1M seems like an incredibly attractive opportunity/lotto.
Munaf Ali's comments today about TCRI......
Increased my position in the TCRI shell over the last two days with purchases in the 7.1-8.5 cent range. Although it is still not entirely clear what assets of Phoenix will be placed in this shell and exactly what the post-RM structure will look like, I think TCRI appears to be extremely attractive at these sub-10 cent prices. A lot of things could go right/wrong here, but from my perspective I think TCRI is a "hidden gem" at this moment in time because very few crypto-sector investors seem to have TCRI on their radar screens. When you see other crypto-related plays achieve legacy share valuations that are 10-30x higher than what TCRI currently trades at today, I think it is pretty hard to ignore the potential here.
Munaf Ali's speech today at the World Digital Mining Summit in Dubai was worth listening to because it provided his first comments about TCRI and also gave some interesting information about Phoenix's background, current status and future plans. The growth trajectory that Phoenix is on is extremely impressive. For example: Phoenix's mining farms in the United States are expected to come online in December 2021. Phoenix VC (the venture capital fund) currently has $500M of assets under management. Today Phoenix announced it has placed an order and paid for $650M of crypto mining equipment for its new UAE mining facility, and will place orders for $2B during Q3 2022 (see press release below).......
https://www.yahoo.com/now/u-e-based-phoenix-technology-074324202.html
Munaf Ali's speech starts around the 2:51:30 mark and ends around the 3:04:30 mark of the livestream replay. Munaf's comments about the TCRI shell can be heard starting at the 3:01:05 mark. I have transcribed what he said below.......
QMDT...decent chance of a return to trading......
Held my position in QMDT through the September 28 deadline. Because of my position size and the low trading volume it seemed to make more financial sense to just hold my position, cross my fingers, and see if the company tries to become limited/current. I have no idea what the current financials/structure might look like, but it seemed worth taking a chance here.
The OTC Markets profile updates in the last couple/few weeks (particularly the addition of consultant Jacqueline Danforth) should be a good indication that an effort is being made by the company.
The additions of Michael Granito (Chief Risk Officer of NYSE: FHI) and James Wiggins (Phronesis Partners hedge fund) to the profile page should be an indication that these two men probably still have sizable equity/debt positions in QMDT. Both of these men have been involved with QMDT for many years.
One other reason I decided to hold my position was a possible wildcard scenario here. This could be completely meaningless, have no future connection to QMDT, but I noticed that the CEO Bernd Liesenfeld started following a stem cell company in Florida a couple/few months ago. This was noteworthy to me because Liesenfeld rarely updates his LinkedIn account.
https://www.linkedin.com/in/bernd-liesenfeld-3674725/
http://erivanbio.com/
MTRT...fully-diluted valuation is the biggest hurdle......
From an overall business/story/float perspective MTRT is very attractive. But the problem going forward will probably be the valuation. The press release on Friday provided the last key piece of information (the number of Series A preferred shares issued) that allowed investors to determine what MTRT looks like on a fully-diluted basis.
Medium received 3.5M Series A preferred shares as part of the RM. Based on the conversion terms disclosed in the October 19 filing, each share of Series A preferred is convertible into a little over 164.39 shares of common stock......
.01 (original issue price) divided by .00006083 (conversion price) = 164.3925694559 shares.
The 3.5M preferred are convertible into roughly 575.374M common shares. So on a fully-diluted basis there would be around 658M shares outstanding. At the time I am typing this MTRT's share price is $4.00, which would be a fully-diluted market cap of $2.2+ billion.
Now, it is impossible to know if the preferred shares will eventually be converted as a means of enhancing/improving Medium's ownership percentage in this RM. Or the preferred shares could be converted/transferred/utilized as part of future operational actions (financings, acquisitions, etc.). Just based on legacy share percentages and the authorized increase to 2B common shares, my guess/hunch is that the first scenario is probably more likely than the second scenario.
I think if MTRT's share price seems to struggle going forward, it is the fully-diluted valuation that is probably the biggest reason.
CEHD(.082)...finished accumulating position.......
VBVT(.51)...website activity increasing.....
It looks like CEO Rene Lauritsen is in the early stages of fleshing-out the website for the communication app (EZcall.app)......
https://ezcall.app/
I'm not sure if he will be updating the investor deck and moving it over to this site, but the link to that February 2021 EZcall investor deck on another website is still functional......
https://www.eztalkpro.com/wp-content/uploads/2021/02/EZcall-Investor-deck.pptx
STJO(.115)...added to position.....