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Ironically you assume what I am assuming, and you have no idea what I'm basing my any of my decisions on. Been doing this for going on 18 years and I've probably seen more splits than many people here. I hear what everyone is saying and I always weigh everything into my decisions. All I'm saying is this specific scenario (not the one in 2011 that I never bought into but watched) at this specific price, cap and point in the story, I deem to be a risk vs reward I find to be favorable.
You're wrong if you think R/S never work out. In the OTC the vast majority of the time it's awful, but there are times it's warranted and necessary, and they all include reasonable ratios and a growing company uplisting to a better exchange. The devil is in the details, this scenario absolutely lends itself to it being one of the few cases where it's warranted and a critical part of success. Consolidating the share structure is an absolute must, putting it off makes absolutely no sense unless you're focused purely on the here and now and not the bigger picture.
Obviously there's a large risk this bombs, but I'm seeing things here that I don't normally see and the split makes perfect sense to me based on the desired share structure and their goals. Even the market is now telling us that things aren't as bad as the complaining here would have you believe, the price has firmed up and my bids aren't getting touched much at all. The ask is going to get thinner and thinner as it moves up. I absolutely don't see this tanking post split, in fact I think it's going to surprise a lot of folks.
Heat pump plays are on fire, $TT blasted off to new all time highs, $MOD, $LII and many others are running hard of late. It's not a coincidence that we've run up in recent months and now with this $TT move and others, imo it's time for us to rally back to .46 and take out new highs. Legitimately think we can do $1+ before the end of the year.
Volume has fallen off a cliff, good indication that this is about as low as the market will take us. Next quarter fins due out in mid November and they should be more timely since we're not auditing an annual report. I think there's lots of people staring at the .20 support (prior ceiling for most of the past year+) and thinking that's where they want to reload or buy in, but hopefully there are no sellers left to take us down there and instead the cheap shares are staring us right in the face in the mid to upper .20s. Hold steady, folks. You know the drill, we'll begin to wake up again and continue our path of higher highs and higher lows.
I suspect you're right.
In a very real way, I think the mania of 20/21 ruined the markets for us for a good 2/3 years. The excess and unbridled enthusiasm created a massive opportunity to dump and distribute into lots of very dumb money, and this is the natural fallout from that. That being said, I think the damage is mostly done and now we're sitting on fertile soil, ie lots of depressed market caps again and many of these shells are in better position than when they started, and just as cheap if not more so in some cases. Not saying $OCLG is going to benefit but I have some reasons to remain optimistic.. but for now it's back to sitting on my hands here.
We'll see.
I think if Mark canceled the R/S the stock would spike but it wouldn't last. The split is absolutely necessary to get to the OTCQB and then Nasdaq. If they cancel it now and then wait until the stock runs harder, then it will just sell off after flippers milk the rally for what they can, and then it could struggle to hold gains down the line. Getting it over with now has effectively cleaned out the flipper crowd and is giving new buyers a chance to take a stake in this interesting story and lock up shares in stronger hands.
Mark and co. could certainly blow this still, but I absolutely believe they need to split first, let the damage sink in (it has) and then let those shares dumped get absorbed (they have). Post slit they can execute on their plan from a clean starting point and prove their mettle (or not).
I absolutely could be wrong and I know every message I post like this is met with mockery and insults, but I've said it before that's the hallmark of some of my best buys. Grabbing shares when the market is puking them for cheap. Now not only have I not gotten any .0002s filled on the bid, but my .0003 bid is barely getting touched and someone is hitting .0004s on the ask. The market is actually processing the 'awful news' quite well and this is way closer to recovering back to .001 than many believe.
I'm trying to bight my tongue because I'm still trying to get cheap shares and the more I talk people into maybe seeing things a bit brighter here, the less chances I have of getting my bid fills. We'll see, but this continues to be one of the most intriguing plays I'm watching these days.
OCLG court updates can be found here:
https://www.clarkcountycourts.us/Portal/Case/CaseDetail?eid=LMAHNaHqWHcIhycWCSgpqQ2&tabIndex=3
I'll do my best to keep everyone updated, I still think there's value in this vehicle for someone. I think everyone was way too optimistic and bullish during the hype of 2021 and now that nothing has worked out as well as advertised, the opposite is true. I actually think there is still legit value to be had in some of these shells and the upside potential isn't priced in whatsoever. One of his old tickers will make noise again because a vehicle for a growth/merger play that gains traction, and then the market will turn favorable again for his plays. There's a cyclical nature and right now we're in the deepest and darkest parts of the pessimistic phase. IMO there's a reason there's no selling left, even with yesterday's 'bad news'.
Color me cautiously optimistic overall. Timing is never easy to predict, but I'll tell you that these conditions are waaaaay more fertile for good things to grow from than the market is currently pricing in. 2024 I think gets interesting again for a number of shell/merger plays, and that absolutely includes Frank's old duds. Just my $.02 based on my nearly 18 years of trading the wild wacky world of OTC shells.
Yeah, the initial look isn't great. I want to know more details. If the motion to discharge has been dismissed, is Frank now the custodian once again? Does the court or Darling find a new custodian? Is Kim involved any further?
Though it sounds bad, my question is what is Darling Capital trying to get out of this? Do they have a plan for the shell maybe? They're not going to collect anything from an empty shell with no assets or business, which is the case if Frank can't sign off the shell to Kim. So many questions, but I still contend that this is a clean or relatively clean vehicle with lots of potential still. There are many worse shells/lottos to be holding, imo. I too am holding my position rather than selling for pennies at what I think the floor is.
Just look at the lack of any reaction to yesterday's decision. IMO everything negative has already been priced in here and then some.
What comes next, Bard?
I truly have no clue what this means but I have many questions.
Is Kim still obligated to buy the shell if there's debt now attached to it, when at the time of the deal it had been discharged?
Does Kim still even want the shell if the Judge rules for Darling?
Lots of questions, but it looks like we'll have to keep following this court case before we know anything.
Result for the motion to dismiss the relief granted back in 2021 was granted. That doesn't mean the previous orders have been vacated, but the judge is going to hear the arguments and consider them on their merits. Here's what Bard said about the ruling today:
Things to keep an eye on and keep in mind in regards to $OCLG and $NOUV.
— Professor Brainiac (@ChartDiligence) October 30, 2023
It's been radio silent since May of 2022 when the merger with Young Ju Kim and DNAgo was announced. However in Sept Mr Kim registered a corporation named SeniorGo with the state of California, and if you… pic.twitter.com/9Vr1SQxqVV
I will post it here for sure. The info I have says it's at 9:00 am and I believe that is Pacific time. I will be away from my desk for lunch so if it comes out during that time I will be sure to post when I get back. I'm thinking if the ruling is in favor of OCLG, we should see some buying pressure hit, but that's assuming anyone else out there is still paying attention.
If it's in favor of Darling Capital, I'm not sure if it would lead to any further selling (or much of it) because it feels to me like there's very little left to dump here. The poor sentiment and long radio silence has been baked into the current pps, not sure if a poor result here would do much but I strongly believe a positive judgement opens the doors wide open for us and should warrant some amount of repricing. We'll see.
Don't worry, I don't think hardly anyone is paying attention any longer here. Everyone assumes that this play is dead in the water because since the merger news in May 2022, the company/buyer have gone radio silent.
So this was a shell that Frank cleaned up back in 2021 and got all of the old debt cleared. Frank and AlphaRidge were successful and then sold the shell to a South Korean businessman. The current case seems to be that one of the old creditors, Darling Capital, is now trying to get that decision reversed. They petitioned to have the motion waived and tomorrow we should find out if they are going to be denied or not. I have to assume that since it was thrown out initially and ruled in favor of the custodian, the same thing will happen, but it's possible they have new evidence that will impact things. I'm far from an expert on how the custodianship process goes.
My guess is that with Darling Capital trying to collect on their debt, which the buyer of the shell (Mr. Young) obviously shouldn't be on the hook for because when he bought the shell it was retired. So if for some reason Darling Capital gets a positive ruling in their favor, then it opens up the door for a lot more delay and complication. Does the new buyer of $OCLG work with them and negotiate a deal? Or does he just walk away and this is back to being a shell with some debt on the books? I truly have no clue what to expect if the ruling isn't in favor of $OCLG, but it likely means a lot more time before anything positive can potentially happen. However, remember I have no idea for sure what's going on here so I could be off base about that.
With all that said, if the court rules in favor of $OCLG and tells Darling to go suck an egg, then that likely opens up the path for the buyer of $OCLG (also bought $NOUV) to begin to execute on his business plan moving forward. I'd be very excited if there's a positive ruling tomorrow. Crossing my fingers.
Court's judgement coming up on Monday, seems like a pivotal decision potentially. Hopefully Darling Capital's motion is denied again.
Still waiting for my bids to get hit. All this talk about how awful everything is here, yet no one is selling to my bids. Please explain to me how this can be a scam and an awful investment, yet no one is actually selling into my bids.You still haven't answered my question, I'm still waiting for someone to sell to me. Normally when there's a shit company and it's a total scam, there is no shortage of shares to be had, even at the bid. Today I got a whole $150 worth filled on my bid, and that's at .0003! I've had even less luck getting any .0002s or .0001s.
And why are you yelling at me? Seems a bit unhinged, no? And again, supposedly I was the only one cared about this ticker? You folks are too funny. Yap yap yap, will someone just finally sell to my bids? I've never seen so much bearishness and calls of a scam, yet no luck getting my bids filled. You'd think for a scam there would be no shortage of people trying to take advantage of me buying this scam, right?
Keep proving my point, I'll keep my bids out and hope to get some more fills.
Then there should be no shortage of sellers, or else where's the scam? I'm looking for fills on the bid. Still waiting.
You're putting words in my mouth. I was told I was the only one who cared about this ticker, after my statement re: the dissenting comment in the filing. To which I replied there are people here who post much more than I do, and posting = caring (for one reason or another). Keep up.
To my point, they care enough to bash it. Stocks I don't like I don't hang out on the message boards of.
Bash bash bash, yet virtually no bid fills. Even now at .0003 it's tough getting fills. Every post you guys keep bashing makes me smile that much more. If you were right, imo, there would be actual dumping and no bid here. Too funny.
So they put that line in their for what reason then? You bashers who supposedly don't care about the stock, bash it all day on the boards, and yet my bids continue to sit here and barely get touched. Let's see where this ends up, but I'm really liking my odds more and more as I see more of the picture. I still have yet to here one good reason or explanation for throwing that line in there. If it's BS, why would they even put it in the statement when NO ONE ELSE SAW IT. It served them no benefit, but no one cane explain it either. Go on, someone out there properly dissent and see what happens. I quadruple dog dare you.
Oh yeah, and to all you bashers, sell me some damn shares! I've never seen so much pessimism yet have my bids not get hit much at all like this. Keep up the bashing though, maybe you'll help me get a few more cheap shares.
I'm the only one who cares about it? Then why are bashers posting here 10x more than I do? Very odd to see so many post here when you claim no one else cares.
Things that make you go hmm.
Search the entire filing, there is ZERO mention of any forward looking statements. What you're doing however is a perfect example of talking out of your arse. You make a statement, I show you there is zero evidence of said statement, you respond with trust me bro, it's a forward looking statement. No son, it's not. That's not how this works. Also, you still haven't addressed why even put that verbiage in the filing in the first place? I'm literally the only one who even spotted it.
There is no mention of it being a forward looking statement.
So they put that verbiage in their for shits and giggles? Makes zero sense, but sure.
That would be a start, but I'm certainly aiming for a lot more than that. If this pans out like the company hopes and I think it quite possibly can, then there's a very real shot at breaking .002 (or .10 post split), and from there the sky is the limit. That's the sort of chart setup and breakout that would logically accompany a growth play that makes it from the depths of hell to the QB and then Nasdaq. Not say that will happen, but that is what I am aiming for on this play.
And what does the company currently consider 'fair value'?
Good question but lots of unknowns at the moment. Things could be much rosier than the current situation appears on the surface, or it could all be total shit. I like the risk vs reward at these levels though, all things considered. Just my $.02.
Exactly. Like I said, I'd be curious to see what the company offers as 'fair value'. Here are some of my additional thoughts:
Why even include this verbiage if you were just going to offer scraps for the shares? That makes no sense.
What if they determined the fair value currently to be .001+, based on their IPs and the restructuring in Delaware? That would have a number of effects, for one it would tell the market there's a floor at said price, and it would fix the chart and put the stock back in position to test/break .002 (or .10 post split). It would be a win/win scenario, and imo if the company truly believes in what they're doing, then this would make sense.
It's something to keep an eye on, and if anyone does properly dissent, I would love to see the correspondence.
Amen brother. Well said, this volatility is par for the course. Smart money buys into these nice low volume retracements. Stock is still trending above it's weekly and monthly moving averages, including it's 200 month MA. Almost zero OTC stocks can make that claim. Don't miss the forest for the trees.
You do whatever you want to do. I'm putting you on ignore. Peace.
I have a question to anyone out there who bought in higher and isn't a fan of the split. We know that Mark doesn't need shareholder permission because he owns the vote, however there was this bit in the filing:
"If any Shareholders properly dissent, the Company will seek to establish the fair value of their shares and make an appropriate payment to those shareholders."
Fair value is not the current market value, fair value can potentially be higher or lower than the current market value. If the company believes they're worth more than the current market price, they should offer you a better than market price for your shares possibly. This is verbiage you don't normally see from an OTC that does a reverse split, and it may be tipping us off that there's better days ahead. I'm curious if anyone goes through and dissents, what the company will say.
I went so far as to ask Bard what it thought about that line, and whether or not it was common and what it could imply. Here's Bard's answer:
Yes. No one was filling my 0002s, let alone my .0001s. Still bidding those though, if anyone cares to dump.
HA, thanks for the chuckle.
If you look at the revenue from the report, it was largely from the Genefic arm. We haven't even begun to add the heat pump numbers to the revenue but that's happening before we know it, and then it's game on.
I remember your post when you bailed on a bunch of your shares at .08 right before we moved up, and then you hoped and wished we'd get back to .27. Well here we are, back above that point and holding up. This stuff takes a long time to put it all together, but this company has executed and is now in position for the major transition to a profitable revenue generating machine. You are so dramatic and all over the place and it looks like you even deleted that post about you bailing because you realize how silly it looked. Either sell and move on or hold and chill, please. You're missing the forest for the trees and anyone thinking this is going to be quick and easy needs to check their expectations. Rarely do you see OTCs make the strides we have. Look how wrong you were back in May. Now maybe take that into consideration as you dramatize this normal consolidation of a massive move off the lows. Look at the volume on the way up, now look at the minor volume on the correction. Look at where we are in relation to the long term moving averages. Honestly I just wish people like you would bail and move on. I've heard all the doubt and FUD since .014. It's ridiculously annoying.
It's a risk I'm willing to take, but only at my prices. I appreciate the feeback, I've been doing this for almost 18 years and have made a comfortable living off of contrarian plays like this. Sometimes it works, often it doesn't, but I see things here that I do like and have waited for a chance to get in here at this level. I grabbed some .0003s already just so I have them if I never get my bids filled. The fact that there's so much bearishness is a net positive for me. I've never made a fortune by playing/buying when a stock was popular and had good sentiment. I buy in on the distressed plays that seem to be dead, and I buy when people are dumping or just ignoring a stock entirely. I just find it odd that my bids are having such a hard time getting filled, when if you follow the board it seems like there should be endless dumping.
I've made 6 figures on trades well over 10 times and made 7 figures once. Every single one of those times I was buying into similar scenarios. I'm not saying this is for sure a winner, but based on my methods I've refined for the past 18 years almost, I see more potential here than the others do here. I actually love that I'm getting so much flack for being a buyer here.