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Pretty sad how Logan has gotten CGAC or whatever it’s called, to the point where there is nothing to talk about concerning the stock.
What a total disaster…
Obviously BITCOIN isn’t where we expected or want it to be, but trading in the $60.000 range (as it has been for a while) isn’t bad at all. Can be very profitable.
Technically, as long as he files within that time of extension, he is filing on time
GMS, are you serious?
Ty GMS.
I thought it was around that amount.
Hey Stinger, wasn't the 1st q rev over 700,000.
I could be wrong.
“What's the point, he has ghosted us.”
The point is, b/c he has ghosted us.
May not do any good at all. But it surely doesn’t hurt.
I thinks he needs to hear from many shareholders at the same time. Maybe (just maybe) feel pressure to release PR. I surly can't pressure him to speak up.
Yes. Absolutely.
That’s key. Ty
I suggest every shareholder on this board reach out to Logan and demand answers concerning this company.
Some may say that it isn't a good idea. I say, at this point, what will we gain by not flooding his box.
The link to contact him is below.
https://www.artdigitalcorp.com/get-started
Thanks Stinger.
Hopefully, with the Q coming soon we’ll get some good news in conjunction.
Have a great weekend.
"Silence doesn't bode well. In all stocks I've owned it means something $hitty is on it's way"
The difference between this and other stocks where the CEO is silent is that Logan has been pretty silent since the day he took over.
I try not to ignore but enough is enough. Done
No. Nothing.
Are you aware that CGAC mine Bitcoins and the price of the coins equal revenue?
It’s nonsensical comments like yours that keep me away of the board.
SMH
"If so that decreases the float correct?"
Yes. And there is only one way to decrease the float.
"Probably not, most of the OS is already in the float."
True. Which is why it's confusing.
The language in the PR tells me the reduction will be from the OS
I'm pretty sure that the 3b is off of the OS but can't be 100% certain.
Hey Stinger, let me get back to you on that.
BREAKING NEWS: A.R.T. Digital Holdings Corp (f/k/a Code Green Apparel Corp) (OTCMKTS:CGAC)
https://www.artdigitalcorp.com/post/a-r-t-digital-holdings-corp-cancels-multiple-share-reservations-returns-nearly-3-billion-shares-t
A.R.T. Digital Holdings Corp (f/k/a Code Green Apparel Corp) (OTCMKTS:CGAC)
DRIPPING SPRINGS, TEXAS, USA, June 12, 2024 /EINPresswire.com/ -- A.R.T. Digital Holdings Corp. (OTCMKTS: CGAC) today announced the cancellation of multiple share reservations associated with long-standing convertible notes, resulting in the return of nearly 3,000,000,000 shares to the company’s treasury. This strategic move is aimed at optimizing the company's financial structure and enhancing shareholder value.
“A.R.T. Digital Holdings is dedicated to strategic initiatives that bolster our financial health and enhance long-term shareholder value,” said Logan William Rice, CEO of A.R.T. Digital Holdings Corp. “This decision underscores our commitment to optimize our share structure and reinforcing our position in the Bitcoin mining sector.”
For more information on A.R.T. Digital Holdings Corp. and its latest developments, please visit www.artdigitalcorp.com.
About A.R.T. Digital Holdings Corp.
A.R.T. Digital Holdings Corp., formerly known as Code Green Apparel Corp., operates in state-of-the-art Bitcoin mining facilities across several U.S. states, including South Carolina, Texas, Ohio, and Minnesota. The company leverages cutting-edge technology to ensure the efficiency and security of its mining operations, contributing to the broader adoption and innovation within the digital currency landscape.
The question is, was the error Logan acknowledges the 1:300 from 1:150 a typo, or did his attorney not know that they needed to file an amendment to change the terms of the r/s?
"Sure 300 to 150 a double typo. He is a prick!!!
Typo or not, IDK. I would imagine that he is knowledgable enough to know that he can't just change the terms of what was filed in October w/o filing an amendment.
His response indicates that it was a mistake. He may need to consider hiring new counsel as these errors in filings seems unexplainable.
"how do you contact Logan? I use X- rarely get a response."
I just stop by his house and ask questions...LOL jk
Truthfully, and this may sound unrealistic, most of the stocks that I get into long term, I end up with good relationship with the CEO. I was on one stock where I would speak to the CEO on the phone.
I truly believe it's because of the favor of the Lord.
I said pretty much what you said to Logan, trying to figure out if it was a typo as he would have to amend the filing in order to change the terms of the R/S.
His response was: "Thank you. I'll alert counsel"
It appear it was a typo.
Yep. Looks like it heading back above 70,000 soon.
Now that's funny. I'm literally LOL
Yes. I understand.
idk. Maybe the rules changed. Guess we'll see
It is pretty strange that something so easily detectable and fixable is overlooked.
Based on past experiences in the many other OTC stocks i've been in (most whom often file for extension), AND, If my memory is correct (and it may not be), I think the time for late filings is 5 business days.
From OTCMarkets.com
Notification of Late Filing
If a company cannot timely file its annual or quarterly report, it may file a Notification of Late Filing stating the reason why and then post the late filing within the applicable grace period:
• Quarterly Report: 5 business days from the original due date of the report
• Annual Report: 15 business days from the original due date of the report
The report isn't due until Wednesday.
The 5 day extension is 5 business days.
I think it’s 5 business days.
This would bring it to Wednesday.
One thing about Logan since taking over CGAC, he always file on-time.
Filing will probably be released at 4:00 PM.
“Just a guess with some fuzzy math.”
I was thinking about 1.5 million but I Love your fuzzy math better.
If I’m not mistaken, this will be the first q with all 753 miners mining for the entire quarter.
Is this correct?
“another wait- now its for fins”
Yes. But the good thing is, we know the date as opposed to waiting for something to happen that we have no idea when it will happen.
I concur.
Very good idea.
You’re welcome.
Yes. Real answers indeed.
I’m actually kind of surprised at how detailed he got on some of the questions.
You’re welcome.
I agree with your assessment.
Below is the response from Logan to our questions.
Question: There are still plenty of authorized shares that have not been issued. What is the reason for the R/S and will the Authorized & Outstanding shares be reduced proportionally? (Kevin-Tennessee).
Response: 1. Meeting Listing Requirements: Some stock exchanges impose minimum price thresholds for listed securities. If a company's stock price falls below the exchange's minimum requirement, it may face the risk of delisting. Implementing a reverse stock split can increase the per-share price of the company's stock, bringing it back above the exchange's minimum listing requirement and maintaining its listing status.
2. Enhancing Perceived Value: A reverse stock split can increase the per-share price of a company's stock, which may enhance its perceived value among investors. Higher-priced stocks may attract more institutional investors or be perceived as more stable and reputable, potentially improving liquidity and marketability.
3. Reducing Outstanding Shares: By consolidating shares through a reverse split, a company can reduce the number of outstanding shares in circulation. This reduction in the float can increase earnings per share (EPS) and improve financial metrics on a per-share basis, making the company's stock more attractive to investors and potentially boosting its market capitalization.
4. Regaining Compliance: If a company fails to meet certain regulatory or exchange requirements, such as maintaining a minimum stock price or complying with shareholder equity thresholds, implementing a reverse stock split can help it regain compliance and avoid potential penalties or sanctions.
5. Dilution Management: Reverse stock splits can be used to manage dilution resulting from the issuance of additional shares or convertible securities. By reducing the number of outstanding shares, a reverse split can offset the dilutive effect of new share issuances and help preserve existing shareholders' ownership interests.
6. Signaling Strength or Stability: In some cases, companies may use reverse stock splits as a signaling mechanism to demonstrate strength, stability, or confidence in their prospects. By increasing the per-share price and reducing the number of outstanding shares, a reverse split may signal management's belief in the company's ability to deliver value and achieve long-term growth. Overall, reverse stock splits are strategic corporate actions that companies may undertake to address various operational, regulatory, or market-related challenges, enhance shareholder value, or communicate confidence in their business fundamentals. However, it's essential for investors to carefully evaluate the reasons behind a reverse split and consider its potential implications for the company's financial health and prospects.
Question: When will the new machines be purchased, how will they be funded, and what is your target number of miners? (Ihub Shareholder).
Response: 1. The short-term target goal of miners (12 to 24 months) is 10,000 miners. The long-term target goal would be to take it to 20,000 over (48 to 60 months).
2. The company is out trying to raise money through a Reg D. The company is working on the Reg A Filing, so once that is effective, that will be another tool to effectively help raise money, so through the market and the company is using the old school method of cold calling investors.
Question: Are there any plans to expand A.R.T. Digital beyond being solely a BTC mining operation? (Don-Mifflinburg, PA).
Response: · Not in the near term.
Question: Has there been any discussion with other companies about the possibility of a merger or buy-out? (Eli-Orlando, Fl.)
Response: · No
Question: What is the target share price once the R/S is done, and what is the projected timeframe for up-listing? (Dwayne-Saskatoon, Canada)
Response: · I will address the R/S projected price point, hopefully, at nine cents or better, depending on the price when R/S is effective. Depending on the requirements (audit, uplisting requirements, and meeting those said requirements), 18 to 24 months.
Question: Have you considered canceling the R/S and raising the share price by other means, such as a share buy-back? (Jeff-Pittsburgh, Pa)
Response: · No, at this juncture, the company is a small growth company that is trying to scale the business. When the company is in a position to do a share buyback, it could be open to the opportunity.
Question: You said you hired a PR firm a few months ago. We have not heard from them yet. Will you commit to a monthly Shareholder’s Update Letter to keep shareholders and potential shareholders informed? (Stinger-U.S.A.)
Response: · Working with counsel to format a shareholder letter.
Question: Were the miners purchased new and what is the life expectancy for them? (Iron Hammer)
Response: · Yes, the industry standard states 3 to 5 years.
Question: Do you have employees? If not, who will maintain the miners and retrieve the completed Bitcoins?
Response: · A.R.T. Digital Holdings Corp. has one employee, that is myself. A.R.T. Digital Holdings Corp. is a hybrid BTC Miner, in the sense that we find purchasing and hosting partners that match up with our company’s mission, current hosting partners the company has are Compass Mining, River Financial, Just for Krypto, BV Power Alpha. Each of these partners has its own maintenance and compliance teams to help maintain and monitor A.R.T. Digital miners. · The flow of how this process works is that miners are at hosting facilities, they mine the BTC, from there, the BTC is sent to our mining pool, then once the payment threshold has been met at said mining pool, the BTC is sent to the exchange/cold storage wallet.
Question: Probably 99% of R/S doesn't work out for the shareholder. Why are you confident the r/s will be different and bring shareholder value? (Brock-Kissimmee, Fl)
Response: · My confidence in the effectiveness of an R/S and its potential to bring shareholder value is based on a combination of factors, including the strategic rationale behind the split, market perception, execution plan, operational performance, and market conditions. By carefully evaluating these factors and implementing the R/S in a well-planned and transparent manner, the company will hope to increase the likelihood of delivering value to shareholders through the split.