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XMET is honestly the first Lazar ticker I have seen with outright misleading speculation from both sides.
As Lucky stated any ratio can be done for a RS. People that are still holding are lucky its just 100:1, could have been a lot more.
Also dont think that Lazar, Wei or anyone else who buys a shell has the interest of legacy share holders in mind. They are in it to make themselves money, not make us money. Ride their coat tails make your profits and move on to the next one.
RM and RS are 2 separate things. XMET can do both. And there is talk on that board of both, I have yet to focus any energy on what is being said there as of late.
I didnt say any of that. Read the filings.
Buy them back at par value was one option according to Nevada law, hence the8m in liabilities in the filing. The other option was increase the A/S, and thats the path they chose.
Prior to completing the custodianship process Lazar would have to had made whole any holders of invalid shares. Its there in the filings. Increasing the A/S was cheaper than saddling XMET with an 8m liability that Wei would have inherited.
It was an empty shell, but prior to fully taking over during the custodianship process you must settle all claims against the company in order to make it clean and sellable. I am sure the invalid shares were something that came up during his initial investigation into XMET prior to filing for custodianship.
The price they were given was par value. They were recorded as a liability in case he had to buy them back from shareholders. He then increased the A/S in order to not do that. It clearly states it in the filing. Case law for Nevada only gave 2 options, buy them back or increase the A/S. You dont go to custodianship hearings and argue about shares... and if you dont show up your shares get returned ?
Less than 1 billion?
So that means that the 7k followers on stocktwits own an average of 142k shares. That is an insanely low number for something that started at .0001. I myself still have 3m shares left. One could argue that maybe not all followers on stocktwits own shares, my response would be maybe not all shareholders are on stocktwits either.
I do believe that many many shares are in the hands of people who believe in Wei and what he might bring to the table. The have their core positions ready for a possible bigger payday.
I like most here will be excited to see the true float.
GLTY
In the filings there are other tidbits of info relating to this. Here are some screen grabs. Everyone should visit OTC Markets and read the filings for companies youre putting your money into, unless of course youre a flipper.
If you firmly believe in Wei, then by all means stand your ground.
There was never any court date to rule on shares. The only court dates have been in order to get the custodianship pushed through. It was misinformation posted everywhere when in actuality it was just a hearing barring unasserted claims which basically means barring potential legal action against XMET at a later date. Once that went through XMET was free and clear of any potential litigation.
I believe as imagineer (if I remember correctly) stated that the only .0001 shares on any filing were the original 75m. Those would be the ones if any that would be cancelled. Not any of the 9b newly authorized.
The float remains to be seen. I say 3b give or take a few hundred thousand.
Odd that LICH trades the way it does. A decent volume day is almost always followed by a zero or very minimum volume day. Just odd that everyone who wanted to bought/sold on that particular day and walked away.
Also, I hope the guy bid sitting at .0135 today never gets his shares.
GLTUA
NEW LAZAR CUSTODIANSHIP
02/16/2021-- OOGI New Lazar custodianship.
2 billion A/S
1.8b O/S
4m float
Share structure info last updated in 2012.
Good Luck to whoever plays it.
Jian Zhang is the common component for both.
Through the court process. It shows ahead of time when the next court date is and what the topic is for that date. Lazar will file for termination of custodianship and soon after( a couple of days to a month) it should be granted.
Edit: Only because he has a buyer already for XMET will I get out at termination. I typically wait for the new company announcement/ticker sold to get completely out.
No worries.
I will be fully out by the time Tian takes over and custodianship termination granted. If I like the business/plan that he puts into the XMET ticker I will buy back in.
lol watch and learn. Been doing this a long time since 2001. As far as Lazar goes look at what the shells he has sold are doing. Out of all of them only 4 have a shot because the company is responding to shareholders. The other ones are getting no information from their new Asian owners, most have an RS to go along with the no info. It doesnt tarnish Lazars rep after the sale. All the RS and no info from new management on his old tickers has not done it yet. There were 20+ tickers before XMET and will be plenty more after regardless of who the ownership is in any one of them. I have been in just about every Lazar play since early 2019, I speak from what I know and experienced from Lazar tickers, maybe you should watch and learn. Lets revisit this conversation in May.
As for Mr.Tian, the filing didnt specify what he did for those companies. He could be one of the ones responsible for the sub prime mortgage fiasco that tanked our economy in 08-09. Since sub prime mortgage derivatives were part of his resume. I dont put faith in resumes unless achievements are clearly stated.
I dont think he is a scammer, I never said that, but if you think he is looking out for you then you have a lot to learn.
Preaching short squeeze/cancellation of shares and 750m float is worse for Lazars reputation than him selling to a scammer.
When it was trading in the upper hundreds of millions a day not one share left my hands. At that time I still had 50m shares. Do you think I was the only one who held onto millions of shares?
Deductive reasoning.
I still have over 5 million shares of my .0001's
Why would he do that? Wei doesnt care about us and Lazar is about to move on. He makes good money doing what he does without worrying about the PPS of a shell he sold.
You really think 5000 shareholders have an avg of 150k shares each? At least 2b in float possibly 3b.All those shares traded hands and some people didnt sell.
But not all 5000 are shareholders, theres only 300 according to the earlier DD posted. /s
If there are 5000 shareholders then they only own an average of 150k shares, or just maybe the 750 m float math doesnt add up. Maybe closer to 3B float.
Its been there dude. In the ibox, 4th from the bottom. If you want to add something about it in the comments be my guest.
Not asking you to believe me. Read the filings. Im happy everyone made money here, I still have some of my .0001's . After doing this for so long I refuse to drink the kool aid. I am impartial. I even quoted something imagineer wrote because it made sense and he is one of the more excited XMET holders.
The court doesnt decide that. Read the part of the filing where it talks about why he increased the AS. It says exactly why.
In this case whether or not they are voidable is a non issue because Lazar increased the AS.
Voiding over issued shares must be a rare (as in none) occurrence if there is no precedent for it.
In that same filing above the snip there are legal obligations for over issuance of shares that Nevada law outlines. I am guessing the reason for the no legal precedent on the voidable shares is that companies usually go with one of the two options that are outlined under Nevada law rather than attempting to void the shares. Probably cheaper that way.
Void or voidable if there were not enough shares in the AS. You have to read the whole thing not just the part that agrees with your opinion....
He increased the AS to avoid this problem as there is not Nevada case law for it.
that would most likely be the 75m from the old TA that were .0001 par value.
Not true. All shares are accounted for. Only ones possibly getting cancelled are the ones imagineer mentioned in post 31621.
Here is what he said:
Re:cancelling illegally issued shares.
The assumption many are making is that these share made it to the market. From there, people are worried if they are holding some of these shares. The simple answer is that the illegally issued shares never made it to the open market and therefor, one cannot be holding them.
The longer answer is that the shares were a different class and issued through a Transfer Agent who didn't complete the process and is no longer in business. Each class of shares would have a different ticker symbol. For example, Alphabet (Google's parent) issued GOOG common shares to the open market and GOOGL, also common shares but with voting rights, to Page, Brin, and certain original investors. As of 2/3/2021 at 11am, GOOG was trading for $2072 and GOOGL was trading for $2061.
Cant compare this to XMET.XMET was heavily pumped with false speculation. We should be good here.
Are you saying it shouldnt be?.
I will shave very little off prior to merger announcement at around .068. This has only run 1400% . LOL I say only, but its a bunch up already. Lazars stuff typically gets %2000-3000% . There are a few that went higher/lower. With this share structure there should be no problems getting what we want here.
Beautiful chart. Been holding almost 2 years. I dont know about you, but after a long hold I expect a bigger bang for my buck.
They did. And it's still not done. Some of his tickers have gone from application for appointment to custodian termination in as little as 4 months.
LOL it was not fast tracked. Took longer than some other DL shells.
Slow day today. I dont mind the small incremental crawl ups. Makes LICH stronger. Those big moves up = big moves down.
Its like Zoom for court appearances from what I understand.
Or maybe Chasey just shows up with a pair of Lazars blue Jeans. The Judge is weird like that.
It is a pretty standard motion during the custodianship process. It basically protects the custodian from any future potential legal action regarding his taking over of the shell.
LOL. Yes we are.
Agree. ...
and we are at .03 .
They are. GME had a short position of 140%. Think about that, 140% of their stock was shorted. A no brainer for calls once the ball was rolling. Lots of political type fallout from that run. Citron for example will no longer publish short selling research. This will be a made for TV movie at some point.
GME at the end of the day is a $5 stock. I have $3p for GME exp 2/22, thinking that WSB cant keep this up all year.If they do, good for them and everyone involved, im out 2K. If they give up and move on to something else, then im liquid.
Well that escalated quickly.
The reddit/WSB gang are 60k strong. Im sure there are even more following now after the debacle last week.