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That may be true for the 2010 Xumanii. But Imerjn has $250k revenue/qtr. Caledonian has already set aside $75 million-I'm sure they prefer to settle than pay attorneys millions. The only shareholders affected would be pre mid-2013.
It's the prior management from years ago. Everything is 2010-mid 2013. The suit isn't against Xumanii, it's against the bankers
are you on the wrong board? check the filings. it has all those things.
well the market cap is 10% of just the cash on hand, not to mention a revenue/profit producing subsidiary.
trading price is 1/50th of earnings.
it is interesting. knight is a 5 billion $ company, the biggest market maker.
Looks like less than 10%-officers have to disclose. Looks like startup costs, acquisition and legal
Alex Frigon was the CEO until 10/13. So you think Alex and Adam Radly are the same person?
10Q out-anyone see the big profit? Thoughts?
I guess it's possible. most grey sheets aren't active anymore so seems like it could happen. but they'd still have to raise more $ to buy another revenue business or grow what they have.
The original topic was the company must know what's wrong. if the company knew why did they do filings saying they don't? Surely the SEC would catch this and post their own filing or take other action.
it's in the 10k:
We are attempting to appeal the order. We have also discussed filing a 15c-211 with a broker.
10k appeal
That's a theory. But why is the company appealing it then?
The split is a by-product of issuing more shares. The company didn't hype anything about ibm, just stated a fact about sitting next to them on a panel. that was people on the boards.
He's made a lot of comments-filed over a dozen things since the halt. Said the SEC refused to provide a reason, said he'd provide updates when they're given to him, appealed the ruling and is working on getting trading.
Sort of ironic that everyone acts dramatic when there was a press release stating exactly what he was doing (issuing a lot of stock):
we have to raise money which means taking on debt or issuing shares to new investors or both. We have no interest in simply standing still - we will continue expanding."
CNBC commercial Press release
i'm thinking all the trades aren't showing up. i did a small amount at $1 but there are no trades showing at that level
it's on the link i posted
also at sec.gov:
Nov 19 stock split IMJN
10,000:1
OTC split
There was a 10k with news, and 8k re RS effective yesterday
$2 trade? someone is missing a brain
yahoo says $1. symbol will probably change soon
and if you look at this site it's 26x that!
$26/share
it will be imjn-yahoo finance still has xuii. also try adding a d to the end
i believe $1, all else equal. though, like you said, all else isn't equal. the appeal with the sec will certainly be interesting. and/or the 15c211. seems like 2 possible paths? perhaps the sec just got over zealous? look at some of the other names on the list. global green appealed theirs too-some people must feel they were wronged.
Would it be better to hire 25 full time employees? Who would pay for them? Would there need to be 100 trillion shares outstanding to raise the funds to pay for their salaries/perks?
Perhaps many businesses use consultants now, in the post 1980's business models. Perhaps they're incentivized-perhaps they will earn stock or bonus if the company does well.
Their filings indicate 10 employees+consultants pre-RMT so assuming another 5-10 with RMT:
10 employees/consultants per SEC filing
10 employees/consultants 180k/qtr a year ago (720k/yr) so presumably $2m/year now
Income statement
Why would the employees file a complaint? it puts their families out on the street just in time for the holidays.
The PR stated their would be dilution-nobody can be surprised
SEC doesn't shut down stocks b/c some crack head sends them an email
Right, because the government is transparent, efficient and a model of perfection. Just look at how people are happy about how tax $ is spent, how politicians operate, picking who to go to war against. I mean everyone is happy about how borders are handled. And NSA doesn't spy.
It does seem ridiculous they won't tell him or anyone
FINRA/SEC
If you think about it they've caused more problems than dilution for acquisitions/growth. SEC stopped trading, so people can't sell if they want to. Finra hasn't approved split yet, meaning the same thing.
It's a little early but did find something on the web saying if you sell the stock for $1 to a friend you can claim a tax loss when filing in 2015 for this year.
Lol if he did something serious I don't think he would have done 10 filings in the past 30 days. can you really go to jail for dilution to pay for acquisitions ? especially when you put out a PR saying that's what you're doing? lol
I think the halt was either related to another company (of Radly's) or other people (prior management). I don't see what he did wrong in Imerjn, other than massive dilution to build a company. He put out a PR saying he was doing exactly that, so people used to penny stocks had double reason to understand what was happening.
Will be interesting to see what happens with finra, as virtually nobody can sell (or buy) until the split goes through. obviously the price post-split will be a major factor in anything.
As far as the future of the company i'm sure they're pretty spooked by this-so couple possible outcomes: new 15c or some kind of resolution with SEC. After that it might take time for them to feel comfortable to continue with their building process. But of course expenses don't stop so they'll have to find funds from somewhere.
Interesting that there have been almost 10 filings since the halt.
Their filings are up to date yes. Facebook is a joke. Why would a company fighting with the SEC be concerned about facebook?
Haven't there been about 6 filings/press releases in the past few weeks? Not sure how the news is interpreted but there has been news.
Velocity is formerly GTO. If you look the price when he took over was under $.05. So he's increased it 300% it looks like. Should probably check your facts/due diligence before posting things you don't know.
True. but I assume many pennies are like this? the companies can't raise $ unless it's toxic, and the cycle continues.
I agree in general prices of penny stocks go down after RS's. But if it starts at $1 at least some people who want to get out can.
If it doesn't trade how does that help shareholders? how can it go up-why is the company incentivized to grow the business when it a) can't raise $ b) has the SEC breathing down it's neck without saying why
Probably better that no trades can occur (since it's at $.0001 it can't go any lower)?
How can it trade below $.0001
I'm assuming it won't trade until RS is done
Isn't Asher in 600 stocks? Seems hard to shut down 600 active companies.
There was an announcement (at least 1) about it:
"Now that we have completed the acquisition of a cash flow positive business we can use that cash flow to cover a portion of the ongoing operational expenditure required for expansion, however, this cash flow is will not be sufficient to fund all of our expansion. Therefore, we have to raise money which means taking on debt or issuing shares to new investors or both. We have several growth opportunities at various stages of development as well as several acquisition opportunities at various stages of negotiation but, if they are to materialize, they all require additional capital. We have no interest in simply standing still - we will continue expanding."