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The RUS funding is not for palm coast. That area is already covered by a previous RUS funded loan. You can actually look up exactly which cities are fundable on the RUS website. The areas Val applied for have been green-lighted, i believe, so that won't be an issue. The bigger obstacle is the minimum equity requirement, which we don't currently meet.
Judging by the overwhelmingly negative sentiment on the board lately, I think it's a good time to pick up shares.
I wouldn't be quick to blame weak hands. According to the recent financials, Val has to sell about 40 million shares by the end of year due to debt. Most of the sell-offs this year has been the result of equity-based financing.
well, to be fair, many of us have been expecting a trip into the 0.001's. Still hurts, but, without any meaningful progress, this is not unexpected.
Sounds about right, Greg. Most of us know OTOW was being manipulated for a while. I, for one, don't care to know who's behind the curtain. Start-up's incur bumps and bruises along the way, and a few weeks/months from now, this will have been just one of those bumps. In fact, these are bargain prices (Market cap of just $1.5M!), considering potential revenue and funding programs are within reach.
Here's a nice article about the RUS funding.
http://www.fiercewireless.com/story/02-secure-wireless-hunts-federal-loan-rural-lte/2011-11-02
I thought about keeping the info hidden, for his sake.
But it's a public record, and everyone deserves to know where things really are.
So as several others noted, we're gonna shake the weak hands from this point on. Those who are willing to hold for months, will continue to add, those who wanted a quick flip will exit.
Good to know, and I agree that things always leak before stockholders find out.
My gut feeling is that we will be funded, and that it's just a matter of time. The only difficulty I see is meeting the 10% equity requirement once we get to the "real" approval process. But I'm sure Val knows about this and has a plan to get the equity requirement met by that point.
You would be surprised how much DD you can accomplish by simply talking to the source instead of pouring hours over the internet. The application first goes to the field office, and needs to be approved as a complete application. There's several steps before making it to DC, as I understand it. So at this point, it's early, as in, we need to be told that it's officially "complete".
However, the Rep was on the road and the signal kept fading so I heard bits and parts. If you guys want to contact the guy he's quite friendly, and called me back after his signal faded.
http://www.rurdev.usda.gov/UTP_GFRContact2.html#florida
Here's the link to the field reps, it's the Florida guy.
I talked to the field representative yesterday, and the application is still at an early stage. The completeness of the application is under evaluation as an electronic copy, after which a paper copy will be sent to the main office in DC. We will know when the latter happens bc it will be displayed on publicly on the RUS website. So I don't want to burst anyone's bubbles, but this is still early in the funding process, and will take many months to finalize.
This was a smart move, and has a really good chance of being funded. I see several other rural broadband companies that received lots of funding ($80M to VTel wireless, American Samoa Telecommunications, etc). Really excited about this opportunity.
While not finalized, the PR does mention a preliminary approval. Also, the total fund from RUS is $10 billion, with small broadband companies (eg VTEL, broadband provider to rural vermont, got $80M) getting sizable chunks of money. Tons of potential here.
Wow, this is huge, and potentially the homerun we've been all waiting for. Unlike previous PR's, this one has meat. Rural innovation and development is a priority in the Obama administration, and OTOW will likely get a piece of that money. On top of that, this is non-dilutive, with low-interest. Good job Val!
Well, for your kid's sake OTOW better be at $1.00 by then.
I don't have a crystal ball, but I think we dip briefly into the 0.001's before drifting back to the 0.004's again.
I've been holding OTOW for a long time now, but this particular report was just plain bad. I don't fault Val, because no one's lending right now, and financing is hard to get at favorable terms in this condition. Now, Val is admitting that he's been selling stock to get by (which is reasonable since he has to raise cash somehow). However, there's a LOT of dilution to come with all the convertible notes outstanding, 39 million shares to be exact. Most of the debt is convertible at 0.005, hence the "run" to 0.005 range recently (and will be the likely reason the stock holds up at these levels for the time being) but the terms of convertible debt appear to be getting worse. So, unless Val secures financing, you'll be seeing sub 0.001 by the end of the year.
Appreciate the comments buddy. Hopefully Val has an ace up his sleeve.
To be honest, that was an abysmal quarterly report. It basically accounts for all the sell-offs, and the reason why this stock is at sub-penny levels. Val needs to come through with funding in a few months (other than issuance of common stock), or else we'll be staring at sub 0.001 levels.
Damn nice closing action the past few days. We've been oversold for a while now, so this is just the bounce back. A solid PR would easily send us back to the 0.02's in a matter of minutes.
EOD should get interesting. My guess is we finish at 0.0048
I think we drift upward from here to the 4's and 5's before making a run again.
Not making a claim on the bottom, but the volume suggests we're close. Wouldn't be surprised however if there was one or two more shakeouts left.
This is money I can afford to lose, so I'm not emotionally invested in this stock. At the same time, I've held OTOW for 2 years (unloaded half during the first run) and am almost ready to load some more again. It's the ups and downs of equities, and pennies happen to be more extreme. I'm certain we're near the end of capitulation, and we'll start to float back to the 0.004's or 0.005's before the next big run. You probably don't agree, but it doesn't matter. The pps will move regardless of opinion.
Siding with you on that sentiment. It's plain as day that capitulation is churning heavy right now. The only thing left to do is either take the loss or grind it out for the long haul.
Buy fear, sell greed
Unfortunately, the same could be said for most of wall street and banks.
As for OTOW, there have been several instances where I've hit the ask, only to see the ask dropped to a lower price. But the longs are right. Overall, these games mean nothing bc when we run, it's gonna be much, much higher than these levels.
EMZ, not the same company
Great close for us, terrible close for the market. Tomorrow should be fun
Agree that a bear market is looming. We'll see what happens after 2:15. This could be the start of a long recession/depression.
I think we prescribe to a different understanding of the way pinkies operate. You are under the assumption that MM's operate exactly as they should, matching buyers with sellers, and creating liquidity without preference for movement. I'm under the strong assumption that they are out to make money, and that they will almost always move a stock in the direction that is profitable for them. In the case of volume without buyers, there's a thing called naked shorting, and who knows what else they have up their sleeves.
Well there is supposed to be a buyer for every seller. Of course that's not always the case with pinkies, but I don't see your point.
That's not necessarily true. There are periods when the stock floats up with very little volume. You gotta learn to read the MM's, b/c in the pinks they have their way for the most part. But to each their own.
They're probably net short at this point.
I think the MM's are determined to drive this down.
I just nibbled at 0.006 and they lowered the ask. Games...
Smart move. 400k order at 0.0085 would never have filled.
No kidding, I think I've aged like 20 years holding OTOW!
Indeed, I avged down to 0.004 during that period. Just a matter of time before OTOW makes another run. GLTA
Been here since the fall from 0.04 to 0.001 to now. No risk no reward.
I like the space he got too. European Village looks like a nice retail spot.
I think you're describing the same population who still use landline phones lol. OTOW is on the cusp of something big, but like all new technologies, it's all a matter of timing. Good luck to you and everyone else. Hoping for a nice surprise tomorrow at 1pm.
It's been better than cable in many respects. We've been going through entire seasons of TV shows (which we used to do by buying DVD sets) and we save so much time bc of no commercials. I used to own stock in NFLX (bought in the mid-100's, sold in the low 200's) for these very reasons. It so much better and less expensive than regular cable.
Costs us $10 a month for netflix (comes with one movie/month) and hulu is free (as are most shows on abc.com, nbc.com and so on). This compared to the $60+ we used to pay for cable. That's savings of $600/ year.
Having said that, it drives me nuts during football season (especially MNF) to not have ESPN and NFL network. Other than access to sports, why would anyone prefer cable over IPTV?