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I am guessing that Mr. Faulkner and Wajcenberg have failed in their efforts in securing any reasonable financing as indicated in latest TCRI 8K filing. No other way to read this since there's been no communication from the company and their employment agreement is way past due. I suspect that we'll be hearing from the company at some point in the not-so-distant future that this CEO/CFO combo have been cut loose. Again, no other way to read this at this point.
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Times officially up for Faulkner and Wajcenberg. What's the deal? We must hear something from the company is now my official position!
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Anyone heard any rumors at least? We are getting very close to that 6-month employment agreement deadline. I would think, at minimum, we should be hearing something about those very soon.
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Looks like your guys weren't able to produce after all, judging by the recent volume and price direction. TCRI is trending to be the biggest disappointment of the recent Crypto run. I just don't get it. No update/communication from the company whatsoever.
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Hopefully it'll turn out to be a good pick up for you; time will tell. One more month until that employment agreement expires. We should be hearing something by then or at least shortly thereafter.
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Wishful thinking or have you heard any rumors about anything coming our way?
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Nobody knows what's going on. The company needs to update shareholders and hopefully SOON!
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Unfortunately, it's looking like you may be right. I so wish it wasn't so, but current reality may come to full fruition here. Not much longer until their employment agreement is expired according to that 8k filing. Let's see what transpires though these next few weeks as I'm starting to become more and more convinced, like MaxInvestor89, that Bitzero maybe the true target merger here. It's still a bit of a hunch but the stars are starting to align and is very plausible for something like that to happen. Well hopefully they will replace them with more established managers with proven track records.........like the ones currently running Bitzero?
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I think Charlie and Simon have very little to do with what is taking place here as per the reasons given in my last post.
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I know, it's frustrating, but there may be a reason for the extreme silence thus far. I've reached out multiple times to the company with no response whatsoever. Maxinvestor89 (from X posting) is convinced that BitZero will be merging into the TCRI shell. That idea has some merit and that would be insanely incredible! Most definitely we'd see an increase in the O/S shares but almost certainly an uplisting to NASDAQ as well. Carl Agren is heading up the operation over at BitZero and they are doing some amazing things there. I know that Kevin O'Leary is involved with BitZero in some capacity too. Wouldn't that be some story line!
So, we wait. What else can we do but be patient and let them bring everything to fruition. I'm still very optimistic here but a little disappointed at the same time. Just want them to keep us TCRI long time shareholders informed of everything that is taking place..........if anything.
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P.S. Not sure how the new CEO and CFO play into this scenario? They seem to be irrelevant up to this point. I'm thinking that they know what's coming with BitZero and want in, so they made an offer of $75 million in financing to get a piece of the "action". This may or may not have any bearing on a BitZero/TCRI merger???? I'm thinking that Chuck and Simon are just desperate to get in, but probable won't for the reasons that Laster has been pointing out.
Sucks.......... Doesn't it?
Well, another month down and the disappointment continues. Would be nice to get some kind of update from the company!
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I hear ya!!
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At least Phoenix put themselves in a no-lose situation. Should find out with certainty within the next two/three months at least.
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Just a little over 2 months left the selected management has to get that financing in place or they will be terminated according to the employment agreement. That contract is very clear as to what is required and what is going to happen as a result, good or bad. My guess is, that Phoenix will get more directly involved with this shell themselves if the current managers can't come through with what they have previously agreed upon.
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I did find this interesting though from their employment agreement.
Quote:
(b) The Exercise Price shall equal the average of the highest and lowest trading prices per share of the Company’s Common Stock on the date of the closing of the Funding as quoted on Nasdaq, the Over-the-Counter market or the New York Stock Exchange, whichever is at the time the principal trading exchange or market for the Common Stock.
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At least we don't have too much longer to wait, good or bad. Management will be gone if they aren't able to produce results by mid-summer as per their employment agreements.
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At least they still are a fully SEC reporting company. Always a positive thing in just that fact.
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Not the same Group
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I haven't seen that. Wonder how that is going for them?
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Incredible amount of potential with the Phoenix Group's backing, but as of right now, very disappointing. Perhaps Laster is right and the fellas at the helm don't have the ability to produce any results satisfactory to the powers that be. I guess we still have a little time to wait and see, but so far, a big goose egg.
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Understood.
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I'm still very optimistic about this shell and I'm still here in full force. Way too much upside potential with The Phoenix Group's backing.
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Apparently, someone agrees with you
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A little interesting price action today. Good to see some life here. Hope we can get some follow through in the upcoming weeks/months.
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Yea, I thought we'd be hearing from them by now or at least getting some inkling as to where things stand. At least we know that this management team is very much under the gun and will be gone here shortly if they can't produce. Mad respect for Carl Agren though as I believe he's got everything under control as overseer of this shell. He has been instrumental in advancing The Phoenix Group to where they are at today. Time will tell how things play out here though, I guess.
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Guess I got to go back to work for another week. With all this excitement surrounding Crypto lately, it's a little disappointing that we haven't heard any details from these guys on where they are at with things. One good thing though, leadership is out here shortly if they can't produce. It does seem like Phoenix is hell bent on using this shell in some capacity at least.
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Follow the money. All other big miners here in the U.S. are listed on the Nasdaq. No reason to think TCRI won't be listed there as well at some point.
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The share structure will change upon an uplisting to the NASDAQ. It won't have anything to do with the $75 million financing, so you are only partially correct. Phoenix won't let any toxic financing to take place. That was pretty much spelled out to a "T" in the latest 8K my friend.
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Yea, probably. When that goes through though, things should get pretty interesting here to say the least. Someone is being pretty aggressive, however.
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Maybe that $75 million + financing came through now and someone caught wind of it?
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Are we getting front loaded here today or does somebody know something, or both? Liking that L2 right now.
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Agreed. Got to get some updates. Current management has about 4 months left to get financing done or they're fired according to the latest 8K. They are on a short leash, so it seems.
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https://news.bitcoin.com/bitcoin-mining-company-phoenix-group-reports-50-net-income-increase-and-20-sales-growth/
Quote: "Our success has been impressive, but 2024 promises to be truly transformative"
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Perhaps it has something to do with the exceptionally large foreign ownership?
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I also follow them on LinkedIn and they have recently indicated that they are expecting a very big 2024. Not sure what exactly all that entails, but I'm assuming that part of their plan involves the TCRI shell.
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