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This thing is dead. In default on filings.
The last filing was a delay of annual report that stated it must be filed by May 14th 2020. Anyone know where it is? Not filed from what I can see. Will soon drop off the market and be suspended from trading. If you can get anything for your shares right now, that seems like a good deal for a company that is inactive. And it has too many shares outstanding to make a good RTO for anyone other than the insiders who may try a RS and then screw people again.
You will wake up one morning and this will no longer trade if you wait much longer to sell.
Good luck everyone.
This thing is dead. In default on filings.
The last filing was a delay of annual report that stated it must be filed by May 14th 2020. Anyone know where it is? Not filed from what I can see. Will soon drop off the market and be suspended from trading. If you can get anything for your shares right now, that seems like a good deal for a company that is inactive. And it has too many shares outstanding to make a good RTO for anyone other than the insiders who may try a RS and then screw people again.
You will wake up one morning and this will no longer trade if you wait much longer to sell.
Good luck everyone.
Desparate Financing at Ridiculous Rates
The company just took out a loan at 20 percent discount plus 10 percent interest and the entire amount can be converted into shares at 20 percent discount to lowest two closing prices.
So, the company got 200,000. In a year they will owe 240,000 based on initial discount plus 20,000 interest for a total of 260,000 and the lender can convert that into about 320,000 worth of shares.
Does this sound like the kind of financing a company with any kind of solid business opportunity would do?
This thing is going to zero really quick. If you have shares, get out before this person converts and floods the market with millions of shares trying to get any money back.
Buyer and holder beware!!!
Do your homework before buying this thing...even just a few shares. There is no business here. Very little revenue. No cash to speak of in the bank. Financed by printing shares at a lower value each time. Pay employees with shares, pay consultants with shares, pay rent with shares. The only way for any of them to actually get cash is to convince you to buy shares. If they dont want them, why would you. This thing is down about 80 percent this year. I predict sub penny by this time next year, if it is not halted and delisted.
Be careful and read everything before even buying one share.
Holy Dilution! Run Away.
Did anyone else notice that they paid nearly everyone this past quarter with shares valued at 14 cents. And to do so they increased the OS by about 25 percent. Since they cant seem to actually raise cash by way of true revenue, this one is turning into a printing press and shareholders will be the ones who lose ... and quickly. 11 million shares issued in the quarter to cover the expenses needed to generate 25000 of revenue.
What a joke. If you have shares I would dump them in advance of the directors and employees running for the exit.
Good luck.
There may be a dead cat bounce but it will likely be so small that only the market maker makes any money from it.
I see this heading to 0.0001 just like most of the other stock printing schemes on the OTC.
If you own this I would not even wait for a bounce. It may not come. This is headed towards a Reverse Split faster than you might think.
This company pretty much only has revenue from related parties. It is running out of cash. Issues shares to pay bills including rent. The major owners gave themselves a ton of shares at less than a nickel.
Watch for a reverse split soon or just a name and focus change again like it does every few years. Or maybe both.
I pity those who got sucked in by this useless excuse for a company.
Have not checked in for a while but see this thing is playing out about as expected. triple zeroes are on their way IMO>
SSPT has already indicated that they will be late filing their annuals, likely expect a similar delay here.
GRBT made it well ahead of deadline and their financials are quite amusing to say the least. Salary expense of over $100,000 in the quarter to generate sales revenue of about $8,000.
Did everyone get their GRBT stock dividend on December 31?
And now I see GRBG has achieved a major goal as of yesterday...probably true if a "major goal" was to find a way to monetizze one of the CEO's other companies that, if you ever get to see financials, may be of questionable value.
And some people see potential here - I see a printing press for management IMO.
I expect the offer will be accepted.
After all, if he declines the offer he made to himself for his own company from his own company it will mean that he either does not want to own shares in GRBG or he does not like what he sees in the brushco and leasingco once he looks at his own books.
Looks like Gubb has finally found a buyer for his little companies - everyone here - eventually he will sell enough of his shares to keep him happy for life and a new CEO will come along and vend even more businesses into this thing.
Buyer, holder and newbie beware IMO.
So Mr Gubb buys half of his own companies with your money and it is good news...for who?
Let's see what is left out of the PRs.
Assets = $1.2 million - I wonder what liabilities are so we can find out NET assets or NET debt. There must be liabilities or he is giving away money since you are paying less than 50% of assets stated.
The leasing company owns the 50,000 sq ft building and leases it to the brush company. Wonder what they charge them and if that revenue is being counted in the $2 million in revenue? If so, it should not be since it is internal revenue and never available to external shareholders. Wonder when the last appraisal was done on the building?
$450,000 of preferreds. Anyone do the math and figure out how many common shares Mr Gubb will now have that he can sell.
$2 million of combined revenue...wonder if any of it is profitable?
Enquiring minds should want to know this as they are details that are left out that would allow you to now if you got a good deal or got played by a CEO who was looking for an exit strategy on his own terms and in his favor.
So let me just understand what happened.
WOW is not buying GRBG.
Instead GRBG is buying Organic Product Solutions, Inc.
But 3 months ago GRBG bought Brightside Products Inc which was a division of Organic Product Solutions Inc.
Seems to me GRBG just bought the same company twice??? Huh!!!
And this is good news???
WOW is right...
Been away for two weeks.
Have they really not announced the closing of the buyout yet despite the Dec 24th target date?
Just before leaving I said I was 50/50 on the buyou teven happening, I am now down to around 10% thinking it may happen (but still not be good for current SH)if I have not missed the announcement.
How so? Explain how WOW and GRBG come together as one company without a RS or massive dilution...
Balamidas,
The next PR may give a bit more information. It is the one or two after that which I would worry about. To MERGE the two companies into GRBG will require a RS and/or a massive increase in AS so that current WOW shareholders end up with the right amount of shares in mergeco (formerly called GRBG).
Yes, you will still own WOW at the end but you will have significantly fewer shares than you have now. And Allie will determine who gets what because he si on both sides of the merger. I think he will do fine out of this. IMO - Current shareholders - not so much.
Go back and reread my email Balamidas because you are missing what is about to happen.
IF they are going to merge the two companies as you said - both of which have shareholders and shares outstanding - then they need to value each company so they can assign value to each share in each company.
The market has already ascribed a value to GRBG - it is around $3.5 million market cap. Allie and Bill will assign a value to WOW - or should I say Allie and Allie since he will be the CEO on both sides of the merger.
It does not matter what he pays Bill for the preferreds he needs to have majority control of GRBG, what will matter to current GRBG shareholders is the value that Allie assigns to WOW if and when he merges it into GRBG in exchange for shares of GRBG.
If WOW is the larger entity, then how do they accomplish merging WOW into GRBG so that GRBG becomes WOW within the current share structure?
Balamidas,
I read it, what I do not see in your process of the merger is that you need to put a "value" on both companies so that shareholders in each company get their fair share of the merged company.
What value would you put on WOWGreen right now? That needs to be paid out to current WOW shareholders in the form of shares of the merged company or conversely, GRBG shareholders get shares of mergeco in proportion to the value of GRBG to WOW at merge date.
Let's say GRBG is worth $3.5 million right now and WOW is deemed to be worth $31.5 million - then mergeco is worth $3 million in total and former GRBG shareholders own 10% of mergeco.
How do you do that within the confines of the current share structure?
Balamidas,
If WOW is going to go public through GRBG as you state, what are the steps between WOW buying controlling interest in GRBG and GRBG actually becoming WOW?
Perhaps this is the one he is referring to for where they got the cash:
Small Company Offering and Sale of Securities Without Registration (D)
They acknowledge raising $228,000 from that but state that around $100,000 is going to Bill and the promoters (likely Big Apple).
Insane,
You mean the filing where they bought SSPT and declared they would move it from doing $5,000 revenue in a quarter to over $500,000 in the next 60 days?
Methinks that if they had even come close to that number there may have been a PR or 30 about it...
Or is there another filing I should be looking at?
Insane,
Where did you get the info that GRBG raised $500,000 in cash two months ago? I must have missed that.
Wadirum,
Do you like your crow with hot sauce or just plain.
If you look at the previous EESO contract which stipulated no more than a 5% markup on product that means that GRBG needs to sell WOW at least 5 million of product at wholesale prices over the next 3 years to recoup their payment to WOW of $250,000 to even have this contract.
Do we have any idea how big WOW is right now. Do we know where GRBG got $250,000 in cash? They did not have it as of a few months ago?
Given that all here had expected this to be signed as it had been PRd a couple of times, I say the old adage fo buy on rumour and sell on news will also apply here.
And the whole buyout still being negotiated at this stage - 50/50 in my estimation....
Where did the buyout announcement used to be on the Wow Green website.
I can find no mention of it there anymore...
I may just be missing it but it is not there under current news or About Us or anywhere from what I can see.
And even if not there it may mean nothing and may have just been bumped from the page it was on but...heads up everyone.
Millenium,
Licensing deal alone with a sub means WOW controls whether it is a profitable deal or not. Lots of revenue means nothing if it is unprofitable revenue...and Allie controls the revenue and the costs that are flowed through....
And you quoted Allie as saying that WOW is now a publicly traded company in your response to me...so I do not think I distorted your words, perhaps I challenged the overly futuristic and simplistic words of your new CEO - but he has never said anything else in the past that has not come true or where there may be an extra step or two involved that he is leaving out of the conversation....
Running out of posts today so not likely back for much more of our conversation...I hope you understand that the future may not be as rosy for common SH as some think.
Millenium,
Do you honestly believe that GRBG is now WOW Green? That there has been no increase in the OS to compensate Allie and Zimmerman and others for their ownership of WOW? Do you think that GRBG now owns WOW and all of its revenues.
WOW is right...
GRBG may become WOW in the future but only after Allie and Zimmie and others get some shares and cash for WOW...If they even plan to roll it all in...
Doebop,
What do you think it will house and what do you think the current owners of whatever it houses will charge GRBG shareholders for them to have a piece of it and how will GRBG shareholders pay for it.
Think your way past speculation down the speculative decision tree to your best case scenario and tell me where you end up on the above questions.
Correct, but shareholders do not know what the public company will house.
Right now it appears it will manufacture WOW product but not be the actual MLM. If it becomes the actual MLM in the future then the current WOW shares will need to be exchanged for GRBG shares. Do you think you will have any say in what those WOW shares are valued at on the way into GRBG or will it just show up one day as a massive increase in the OS and by massive, I am guessing they will either need to increase AS or decrease OS to get what they will charge you for you to own a piece of the MLM side of WOW.
GRBG does not own WOW. WOW owns GRBG...big difference!
Yes, my agenda is to make sure that the potential negatives of this stock and now the buyout are present when newbies are lured here by false posts and posts that only have positives in them that may not be completely justifiable.
Not even close to FT Wayne crew - you are far from warm on that guess....
Is that the call in which he said they would be closed in 10 days but then 10 days later realized that they had inconveniently scheduled Christmas on December 25th last year so they could not meet that deadline but would be done in the first week of January - you know, last Monday?
Grain of salt is needed when the head cheerleader is making up the cheers....
Millenium,
Until you know how WOW is going to use GRBG, you do not know what gross and net revenue they are going to flow through it.
They may use it as a tax loss sub - they may use it to generate profits but then dividend those all out to the preferreds (who owns those and would benefit most from that arrangement?).
My best bet is that there will be no profit left or cash flow for commons at the end of whatever they choose to do with GRBG. And if they do fully fold WOW into GRBG, then watch for a RS first and then massive dilution to account for the "value" of WOW being folded in.
You may get a false run prior to getting the shaft here but this one is not likely setting itself up to be pretty.
Knight,
At least I admit that my viewed may be flawed. You, on the other hand, come on here telling us that Carrie Underwood is a pitch person for WOW Green and also spam that falsehood on at least two other penny boards but never admit you are wrong on that.
Care to put a retraction and apology on the board for having done too little DD into that post.
Insane,
Bill converted his common to preferreds and then is selling those preferreds to Allie so Allie has effective control of the company.
Very simple...PR said buying control of a public company. You do that by owning 50.1% of the votes. Votes are with the preferreds so Bill converts his common to preferreds so he has more to sell to Allie - all planned a while ago when they first started talking. So Bill gets to partially cash out and the rest of you get NIL.
Face up to it, (and I may be wrong) but IMO it appears that this deal is structured so that another pinkie CEO gets to screw the common shareholders.
Pretty much every other deal that has been made here in the past year is suspect in my mind.
IMO, they overpaid for shotpak, overpaid for Guest Metrics through shotpak, Vapor Tech deal was ridiculous.
A fairly simple web of deceit if you take the time to work your way through it and this was an easy way out for Bill and Rebekah.
Ever wonder where his wife got here shares and why she now magically appears as a top holder of commons and Gene Sherrill is no longer listed on any disclosures?
This was in the works for a while but Bill just needed to make sure everything was structured properly for him to cash out of enough of his common without floating them into the market for him to be comfortable for a while....
That is how I see it...I may be wrong but there was little done in the last 3 months plus that appeared to be for the benefit of all common shareholders...just for a few.
And did anyone figure out that the whole Pencil Grip order is likely a no-go or transferred to Allie or some other distributor if it is even a real order now.
Remember, licensing agreement says GRBG can not compete with distributors and distributors have stain pens to sell on both retail and wholesale side.
I see a few people are starting to figure out what is likely happening with this supposed buyout.
I said all along the deal was for the preferreds and for Bill to get the biggest bang for his shares, he needed as many preferreds as he could get, so he just did his convert of commons into preferreds and that is what he sells to Allie for cash and shares in WOWGreen.
The commons are just along for the ride and IMO, it will not be a fun ride.
Yes, a few less common make it easier to run this thing on hype and hope but there is little to no interest here to even get it on radar screens and when the PR comes out announcing that WOW owns GRBG (and there is no offer of anything for the commons) the ones who thought they were getting bought out will be gone driving this thing lower.
Still here and waiting to see who gets burned by this since I see nothing good for commons here. Maybe I will be proven wrong but I think the deal will only involve cash for Bill and nothing for you.
Seems thin on the way up so a run could be possible but it will also be interesting to see if Bill, Rebekah, Big Apple or whoever seems to be selling a few million a day show up in the power hour with some big sell orders to move this right back down - these prices could be irresistible to them.
Knight,
From the Dec 14th PR
SARANAC, Mich., Dec. 14 /PRNewswire-FirstCall/ --
Green Bridge Industries, Inc. (Pink Sheets: GRBG) announced that Wowgreen International, LLC has signed a binding letter of intent with Green Bridge Industries to acquire majority control of the Company for an undisclosed amount, which is to be paid in a combination of cash and stock over time. As part of the definitive agreement, which will be executed within the next ten days, Allie T. Mallad will become the sole director and chief executive officer of Green Bridge Industries, Inc.
Acquiring majority control for cash and stock...majority control of this company can be had by buying 51% or more of the preferreds from Bill...commons will likely get nothing...
So at 0.008 (high) and 0.0068 (low), we are actually closer to my prediction of half a cent than to your prediction of a cent.
Should be half-a-pennyland today!!!
Correct...but doebop, lorel and robotrader were predicting a penny today.
But we won't talk about his Gelato mess, right?
The posters this morning saying 0.01 would be here today - care to revise your prediction?
0.005 may be more likely.