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Wow, your money is asleep. You cannot let risk off moves scare you. They are an opportunity. Even if you don't take a direct position, you could have sold out of the money puts and pulled in premium where the basis would have been a comfortable entry point upon assignment. You see in my list the short put trades? You can always buy them back for a gain and don't have to get assigned. A short put, BTW, is a synthetic long trade.
Can you trade cash covered naked puts? Have you been approved for options trading, level 1, 2, 3 or 4?
LOL, Did you do anything???
https://www.google.com/finance/quote/NVDA:NASDAQ
I make money in any market an even more when things get uncertain. Options make that possible. Do you or have you ever set up a bull or bear spread, a butterfly(long) or (short), a straddle or synthetic?
ACOMPLISHMENTS??????!!!!! Converting debt you couldn't service into eventually free-trading shares is an accomplishment?
What the Fuc# Ever! This stock is crap.
Good lord. Your tinfoil hat needs an upgrade.
I don't trade stocks that don't have an active and deep options chain. Literally trading options since before online trading was ever available. Since 1994 to be exact. No losers on any of those trades on that list of trades, over 108k in realized gain. Not greedy and literally buy when everone is selling and selling when everyoine in buying. I trade the options appropriately. Today is a great opportunity in many these names. Selling puts on these names is the way to go. Deepseek has provided an opportunity. Way overdone. Better have some bank though if you want to play. I am sitting on half of mill of undeployed cash and just setting up trades on names that are getting hammers. Just open a covered call on my NXPI position and pulled in 21,894.16. This strtegy provides for downside protection on appreciated position I do not want to sell. Tax purposes, of course.
Do you play options? I am sort of a nut on Options. I ususally trade around positions I own the underlying in. Take your pick.
AFRM 20 -- -- 12,710.23 -- -- 14,039.32 1,329.09 0.00 Short --
Jan 16 '26 $55 Put
ALAB 10 -- -- 11,005.11 -- -- 13,194.75 2,189.64 0.00 Short --
Jan 15 '27 $65 Put
ALAB 10 -- -- 12,105.12 -- -- 15,514.38 3,409.26 0.00 Short --
Dec 18 '26 $105 Put
AMD 10 -- -- 12,705.11 -- -- 13,494.75 789.64 0.00 Short --
Jan 16 '26 $85 Put
ARM 15 -- -- 26,407.67 -- -- 29,992.03 3,584.36 0.00 Short --
Jan 16 '26 $800 Put
AVGO 1 -- -- 6,500.51 -- -- 8,299.42 1,798.91 0.00 Short --
Jan 16 '26 $810 Put
AVGO 1 -- -- 6,690.51 -- -- 9,949.41 3,258.90 0.00 Short --
Dec 18 '26 $148 Put
AVGO 10 -- -- 18,455.12 -- -- 19,798.93 1,343.81 0.00 Short --
FXAIX 504.457 -- -- 100,322.82 -- -- 104,397.38 4,074.56 0.00 Short --
Jan 16 '26 $74 Call
LRCX 10 -- -- 15,135.11 -- -- 17,544.37 2,409.26 0.00 Short --
Dec 18 '26 $68 Put
LRCX 10 -- -- 9,605.11 -- -- 11,149.18 1,544.07 0.00 Short --
Jan 15 '27 $74 Put
LRCX 10 -- -- 13,805.15 -- -- 15,365.42 1,560.27 0.00 Short --
NVDA 1 -- -- 11,300.51 -- -- 12,549.38 1,248.87 0.00 Short --
Dec 18 '26 $90 Put
NVDA 10 -- -- 15,705.11 -- -- 16,494.40 789.29 0.00 Short --
Dec 18 '26 $102 Put
NVDA 10 -- -- 20,205.11 -- -- 21,144.27 939.16 0.00 Short --
Dec 18 '26 $103 Put
NVDA 10 -- -- 18,555.12 -- -- 20,198.92 1,643.80 0.00 Short --
Dec 18 '26 $125 Put
NVDA 10 -- -- 29,405.11 -- -- 30,494.01 1,088.90 0.00 Short --
Dec 18 '26 $660 Put
NVDA 3 -- -- 31,421.53 -- -- 37,078.16 5,656.63 0.00 Short --
Dec 18 '26 $870 Put
NVDA 1 -- -- 19,980.51 -- -- 21,499.31 1,518.80 0.00 Short --
Dec 18 '26 $890 Put
NVDA 1 -- -- 19,330.51 -- -- 20,929.32 1,598.81 0.00 Short --
Jan 15 '27 $90 Put
NVDA 5 -- -- 5,707.58 -- -- 6,172.25 464.67 0.00 Short --
Jan 15 '27 $95 Put
NVDA 5 -- -- 6,547.58 -- -- 7,097.23 549.65 0.00 Short --
Jan 15 '27 $100 Put
NVDA 20 -- -- 28,685.23 -- -- 31,488.78 2,803.55 0.00 Short --
Jan 15 '27 $120 Put
NVDA 10 -- -- 19,395.20 -- -- 21,524.17 2,128.97 0.00 Short --
Jan 16 '26 $280 Call
NXPI 15 -- -- 24,907.67 -- -- 27,754.07 2,846.40 0.00 Short --
NXPI 10 -- -- 17,305.11 -- -- 17,694.36 389.25 0.00 Short --
Jan 16 '26 $330 Call
NXPI 20 -- -- 45,710.22 -- -- 47,862.67 2,152.45 0.00 Short --
Jan 16 '26 $340 Call
NXPI 10 -- -- 14,965.11 -- -- 17,094.38 2,129.27 0.00 Short --
Jan 16 '26 $360 Call
NXPI 10 -- -- 10,405.11 -- -- 12,494.51 2,089.40 0.00 Short --
Jan 16 '26 $160 Put
NXPI 10 -- -- 12,105.11 -- -- 12,894.75 789.64 0.00 Short --
Jan 16 '26 $185 Put
NXPI 5 -- -- 11,552.56 -- -- 12,797.32 1,244.76 0.00 Short --
Jan 16 '26 $190 Put
NXPI 5 -- -- 11,552.56 -- -- 12,897.32 1,344.76 0.00 Short --
Jan 16 '26 $250 Put
NXPI 10 -- -- 25,752.21 -- -- 25,393.14 -324.97 -34.10 Short --
Jan 15 '27 $280 Call
NXPI 10 -- -- 20,405.20 -- -- 22,194.15 1,788.95 0.00 Short --
Jan 15 '27 $340 Call
NXPI 2 -- -- 3,261.03 -- -- 4,498.84 1,237.81 0.00 Short --
Jan 15 '27 $350 Call
NXPI 10 -- -- 11,605.12 -- -- 12,994.48 1,389.36 0.00 Short --
Jan 15 '27 $360 Call
NXPI 8 -- -- 17,984.10 -- -- 19,305.34 1,321.24 0.00 Short --
Jan 15 '27 $180 Put
NXPI 10 -- -- 20,305.20 -- -- 21,994.23 1,689.03 0.00 Short
NXPI 500 -- -- 93,320.00 -- -- 106,024.07 12,704.07 0.00 Short --
Jan 16 '26 $410 Put
SMCI 1 -- -- 8,990.51 -- -- 10,599.40 1,608.89 0.00 Short --
Jan 16 '26 $580 Put
SMCI 1 -- -- 12,020.51 -- -- 14,949.37 2,928.86 0.00 Short --
Jan 16 '26 $760 Put
SMCI 1 -- -- 17,460.51 -- -- 20,598.91 3,138.40 0.00 Short --
Jan 16 '26 $770 Put
SMCI 1 -- -- 18,200.51 -- -- 20,249.32 2,048.81 0.00 Short --
SMCI 100 -- -- 57,848.00 -- -- 69,025.72 11,177.72 0.00 Short --
Jan 16 '26 $15 Call
SOUN 10 -- -- 905.11 -- -- 1,234.85 329.74 0.00 Short --
SOUN 1,000 -- -- 5,712.00 -- -- 6,054.66 342.66 0.00 Short --
SWKS 1,000 -- -- 119,505.27 -- -- 120,526.47 1,021.20 0.00 Long --
VMFXX 25,395.94 -- -- 25,395.94 -- -- 25,395.94 0.00 0.00 Short --
Jan 15 '27 $87.50 Put
VRT 10 -- -- 12,705.20 -- -- 15,894.40 3,189.20 0.00 Short --
Jan 15 '27 $95 Put
VST 10 -- -- 16,265.12 -- -- 18,494.34 2,229.22 0.00 Short --
Total $1,107,831.66 $1,216,326.55 $108,528.99 -$34.10
As of
01/24/2025
EC
Lot edited
Yeah, you're done for the year. I am just getting started. My point is that it doesn't matter who is in the White House or heading the SEC, this stock is shit and it will always be shit and if you're waiting for regime change to change that fact, you're playing the wrong game.
I made 8k just this week and it had nothing to do with Trump, the SEC or Gensler or the lack thereof. I think you should work on your stock picking and stop complaining about the system.
Total
Gain
$8,796.15
Short-Term Gain
$8,796.15
Long-Term Gain
$0.00
Deferred
Loss
$0.00
Total Commission & Fees
$43.85
Seriously, never left. How many filing are now delinquent? I know they just bookended their delinquent 2023 with a delinquent 2024. Bravo! Yeah, this stock is soon to mint millionaires. LOL
Hey MJAM2020, f$ck you laughing about, broke stuck? More Cumulative Convertible Redeemable Preferred Stock. Do you need a lesson on dilution? Surely, you are at the top of the class in dilution studies with your dead position in RNVA, no?
To approve, for purposes of complying with NYSE American Rule 713, pursuant to the terms of the Company’s Series A Cumulative Convertible Redeemable Preferred Stock (the “Series A Preferred Stock”): (i) the issuance of shares of Class A Common Stock in an amount equal to or in excess of 20% of our Class A Common Stock outstanding when the Series A Preferred Stock was authorized, upon conversion of the shares of Series A Preferred Stock; and (ii) the voting terms thereof, which may constitute a “Change of Control” as defined by the NYSE American Rules;
I hope you shareholders that have had the sad misfortune to put your hard-earned dollars into this dilution scam know that what you will be voting on is the issuance of more convertible stock. You approved the last round toxic fiancing so the management thanks you and will deliver more. And for any of you holding RNVA, find one word in the blizzard of stupid filings by either entity that speaks to the fate of RNVA. I will wait. I have already use several LLMs to search out any mention and all have come up with squadooch.
Mark this post.
LOL, Nice balance sheet. Debt ridden convertible share dilution machine with squat for future cash flow other than tapping convertible debt. Does anyone here know how to pull up sec filings? Doesn't look like it.
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=318731371&type=HTML&symbol=FOXO&cdn=99e134a6d7a5df623fd517c52f69c344&companyName=FOXO+Technologies+Inc.+Class+A&formType=10-Q&formDescription=General+form+for+quarterly+reports+under+Section+13+or+15%28d%29&dateFiled=2024-11-19
Share Statistics
FOXO has 17.48 million shares outstanding. The number of shares has increased by 206.86% in one year.
Current Share Class 17.48M
Shares Outstanding 17.48M
Shares Change (YoY) +206.86%
Shares Change (QoQ) +27.22%
Owned by Insiders (%) 0.42%
What, is tax loss selling too prosaic of an explanation? Trust me, I am not at all suprise that you have no experience with tax loss selling insofar as the chief notion for why investors do this before the end of a tax year is to shield other profiatble trades from taxation, a condition I am sure with which you are not familiar. By the way, I need about 340k in tax losses to offset gains for 2024 before the end of the year. Could you give me your position and any loss carryovers you may have that you cannot use before they expire? Much appreciated. Feel free to bring in some other GNCP stucks to help me out.
Hell, I'll even buy everyone a beer.
In the immortal words of Gordon Gekko, "Dump it all!"
Time Price Size Type B/S Bid Price Ask Price Total Volume Num Exch.
15:46:12 0.000001 1,000,000 0 0 702,101,006 11 nasd
12:48:26 0.000001 1,013 0 0 701,101,006 10 nasd
12:47:40 0.000001 99,999,999 0 0 701,099,993 9 nasd
12:47:37 0.000001 99,999,999 0 0 601,099,994 8 nasd
12:47:35 0.000001 99,999,999 0 0 501,099,995 7 nasd
12:47:31 0.000001 99,999,999 0 0 401,099,996 6 nasd
12:45:01 0.000001 99,999,999 0 0 301,099,997 5 nasd
12:44:18 0.000001 99,999,999 0 0 201,099,998 4 nasd
12:44:18 0.000001 99,999,999 0 0 101,099,999 3 nasd
09:40:07 0.000001 1,000,000 0 0 1,100,000 2 nasd
09:30:04 0.000001 100,000 0 0 100,000 1 nasd
Youv'e said too much and veered way off of what we now know. NY Mayor Eric Adams is speaking now.
I predict he will be apprehended by primetime news Sunday pacific time if not sooner.
I guess the list that includes all of them should include this board. PDIV is dead trash walking so a case can be made to add it to this list.
https://investorshub.advfn.com/GNCC-Capital-Inc-GNCP-3731
https://investorshub.advfn.com/ASPA-Gold-Corp-fka-RENS-19309
https://investorshub.advfn.com/Fortress-Financial-Group-fka-FFGO-3111
https://investorshub.advfn.com/Hunt-Gold-Corporation-HGLC-11344
https://investorshub.advfn.com/NationsMark-Nextgen-fka-NMNX-16265
https://investorshub.advfn.com/boards/getboards.aspx?searchstr=pdiv
Good luck with that. Seems a whole lot of folks are suffering from confirmation bias. From a rational standpoint, RNVA share will never come off EM. Delinquent filings continue to pile up quarter after quarter and it looks like management took care of itself and left common holding the bag on this FOXO deal which, based on this meeting, is the latest incarnations of another share printing reverse split vehicle. History has a nasty habit of repeating itself in this OTC den of iniquity.
You know those are gone, don't you? Unless you can find one sentence in all the recent filings between FOXO and RNVA that makes any mention of legacy shareholder in RNVA and how their shares will be impacted, I will reconsider the notion that RNVA shares are gone. This challenge requires positive proof that details how RNVA shares factor into this reverse merger. This is a rare case where absense of evidence is indeed evidence of absense. Hitchens's razor.
Dingdong, are you voting "yes" or "no". In your speak, it sounds like a shit sandwich and your given a choice on what end to bite. Are you aware or the details and the potential impact of your vote?
Debt-to-Equity Conversion: The company entered an exchange agreement to convert approximately $1.945 million of debt into equity, involving up to 11,288,568 new shares of Class A Common Stock. Issuing these shares to settle debt will dilute existing shareholders by increasing the total shares outstanding.
Equity Line of Credit: FOXO secured a $5 million equity line of credit from ClearThink Capital Partners, requiring shareholder approval to issue up to 40 million additional shares. Drawing on this credit will result in the issuance of shares proportional to the funds accessed, diluting existing shareholder equity with each draw.
Institutional Debt Funding: The company also received $1 million of a $2.5 million debt facility, with plans to issue up to 30,800,000 shares to convert the notes to equity. Each conversion dilutes current shareholders based on the conversion ratio and stock price at the time of issuance.
Current free-trading shares: 13,631,554
Maximum new shares issued: 82,088,568
Potential total free-trading shares: 95,720,122
This represents an increase of approximately 602% in the total number of free-trading shares, resulting in significant dilution for existing shareholders.
While voting in favor of the proposals might temporarily stabilize the company's operational outlook, FOXO’s history of underperformance and dilution leaves little reason to believe that holding shares post-vote will yield meaningful financial returns. Existing shareholders might consider selling their positions before further dilution takes effect, preserving their capital for more reliable investment opportunities.
For the math challenged, the fully diluted impact on the price per share equates to an in substance 1 for 7 stock split based on the current O/S and the share price of .5191.
Looks like some of this volume is coming from this source. Note the shares acquired on September 16th are now gone per the Nov 6 2024 13G. 5,007,230 September 16th, Nov 6 -0- .
LOL
Sept 16, 2024
https://www.sec.gov/Archives/edgar/data/1812360/000190359623000492/sc13g.htm
Nov 6 , 2024 Zippo!
https://archive.fast-edgar.com/20241107/A322K22C7222DTZ2222Q2ZYXD73UB222B262/
You all really should be better at monitorong 13g/f filings.
NFREQ, who is the plantiff? OMG, I am sure you meant defendants.
Better go sweet talk satter. You sure won't get anything from the "company". Any update you have received from him has been out of the goodness of his own heart. The way several here have killed the messanger calling him a FUD and working for the naked shorts LOL, if it was me, I wouldn't share a damn thing at this point. Go bug Seamus. Yeah, right!
FOXO nose dive today. Have fun.
The rest of the article was purposely left out of the post.
https://www.investing.com/news/company-news/foxo-technologies-announces-corporate-changes-93CH-3678801
FOXO Technologies' recent financial maneuvers, including the authorization of Series A Preferred Stock and ongoing settlement discussions, are taking place against a backdrop of significant financial challenges. According to InvestingPro data, the company's market capitalization stands at a modest $1.88 million, reflecting investor skepticism about its prospects.
InvestingPro Tips highlight that FOXO is "not profitable over the last twelve months" and "suffers from weak gross profit margins." This is corroborated by the company's financials, which show a negative gross profit margin of -5.16% and an operating income margin of -6425.16% for the last twelve months as of Q2 2024. These figures underscore the financial pressures that may have led to the company's recent capital restructuring efforts.
The company's revenue for the same period was $0.15 million, with a concerning year-over-year revenue decline of 66.08%. However, there's a silver lining in the quarterly revenue growth of 133.33% as of Q2 2024, suggesting some recent improvement in sales performance.
FOXO's stock price has also been under pressure, with InvestingPro reporting a one-year price total return of -83.34% as of the latest data. This poor stock performance aligns with the InvestingPro Tip noting that the "stock has taken a big hit over the last six months."
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for FOXO Technologies, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Someone please stick this post by satter.
You should be nice to him since he has been the one bringing the court transcripts to you on his own accord. He could simply not provide the update that is due by 11/8 then where will you be, waiting for RNVA to update you? LOL, how those three delinquent filings coming along? LOL
You only became aware of the details thanks to satter.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175253421
You know what's sad? It will be satter that delivers any update, not RNVA. Let that sink in.
Something afoot? Check out the late trades.
Indicator Tick Price Size Time Exchange $Vol
A 6.12 1,800 16:00:24 Q 11,016
B 6.1 2,300 16:00:22 Q 14,030
A 6.11 1,700 16:00:14 Q 10,387
T 6.12 586,319 16:00:00 Q 3,588,272
A 6.12 32,600 16:00:00 Q 199,512
B 6.11 6,200 16:00:00 Q 37,882
A 6.12 32,600 15:59:59 Q 199,512
B 6.11 6,500 15:59:59 Q 39,715
T 6.12 12,831 15:59:59 Q 78,526
T 6.12 2,000 15:59:59 Q 12,240
T 6.12 9,000 15:59:59 Q 55,080
T 6.12 9,557 15:59:59 Q 58,489
A 6.12 59,900 15:59:58 Q 366,588
B 6.11 8,000 15:59:58 Q 48,880
A 6.12 43,100 15:59:58 Q 263,772
B 6.11 29,400 15:59:58 Q 179,634
A 6.12 43,100 15:59:58 Q 263,772
B 6.11 29,400 15:59:58 Q 179,634
A 6.12 43,200 15:59:57 Q 264,384
B 6.11 29,500 15:59:57 Q 180,245
I respectfully disagree and feel this will not end well for those that are indulging in hopium. In fact, that there was no impasse can reasonably be construed to mean a "no contest-like" plea. The evidence was overwhelmingly in the favor of the plaintiff. Hell, they didn't even put up a fight other than "we don't know because we can't remember and didn't review the financials in question". REALLY????
In a qui tam case under the False Claims Act (FCA), if there’s a summary judgment in favor of the government, the penalties and damages typically do not automatically adjust based on the defendant's available assets. The FCA imposes specific statutory penalties—currently ranging from $12,537 to $25,076 per violation (subject to inflation adjustments)—and treble damages (three times the government's actual damages). Courts are required to impose these statutory penalties once liability is established.
That said, while the statutory amount doesn’t change based on the defendant’s assets, courts do have some discretion post-judgment. In certain cases, the defendant may request a reduction in penalties or damages if they can demonstrate that the penalty would violate the Eighth Amendment's prohibition against “excessive fines.” This is a challenging standard to meet and typically requires showing that the penalty is "grossly disproportionate" to the defendant’s conduct and ability to pay. I would venture to guess that the way they handled the interrogatories, which by all accounts was very unprofessional as if they really didn't care, the likelihood of this relief is doubtful at best.
In fact, it wouldn't surprise me one bit if there is a requirement to collapse the supposed merger which essentially transferred the only hard assets RNVA had in order to avoid them being attached in any settlement that I am sure was the reason for this last minute merger agreement before they went to mediation.
Any prediction on how much RNVA will have to cough up? I'm betting north of $50 million. .
V. Conclusion
For the reasons stated herein, the United States is entitled to summary judgment as to the claims set forth in its Second Amended Complaint against Defendants Rennova Health, Inc., Jellico Medical Center, Inc., and Jamestown TN Medical Center d/b/a Jamestown Regional Medical Center. These Defendants submitted “reverse false claims” in violation of the Federal False Claims Act. The United States is entitled, as a matter of law, to damages of $26,452,534.35 in treble damages plus $54,036.00 in statutory penalties.
I would say they get nailed for all of it but this turd can't rub two nickels together at this point so they would sooner get water out of a rock.
Listening to Bloomberg and CNBC. Everything is NVDA NVDA NVDA, Marsha Marsha Marsha!!!!!
https://stocktwits.com/Victhestick/message/589984346
Sticky this: https://www.justice.gov/opa/pr/false-claims-act-settlements-and-judgments-exceed-268-billion-fiscal-year-2023
Of the more than $2.68 billion in False Claims Act settlements and judgments reported by the Department of Justice this past fiscal year, over $1.8 billion related to matters that involved the health care industry, including managed care providers, hospitals, pharmacies, laboratories, long-term acute care facilities, and physicians. The amounts included in the $1.8 billion reflect recoveries arising only from federal losses, but in many of these cases, the department was instrumental in recovering additional amounts for state Medicaid programs. The recoveries in fiscal year 2023 also reflect the department’s focus on key enforcement priorities, including fraud in pandemic relief programs and alleged violations of cybersecurity requirements in government contracts and grants.
Shoved straight up their asses for all the good it is doing the company and its prospects. And shareholders are so screwed to have ever thought this company was anything other than a reverse splitting share printing scam.
If I were you, I would start drinking heavily or sell this turd and consider it a lesson learned that you simply do not know enough about how the vast majority of these lighter-than-air companies operate.
Oh, and you're welcome for the advice. I usually charge about $150 per hour for financial advice.
Did you see NVDA today? Now that is more my speed.
I'm saying this company is insolvent and settling obligations with convertible notes into free trading shares to settle debts. I am sure you have heard the word "dilution", right? Well, it is happening or will be happening soon right before your eyes. Wait until the default on the recently inked note with RNVA for $22 million in connection with the sale of the two hospitals. That note is due paid in full with interest in less than 2 years and they haven't made a single payment on that one either because they have no operating income or free cash flow to commit to that note. Payments were due October 10th of this month for the first of 24 installments. Upon default, that note will be convertible into free trading shares that while they might be restricted, they shouldn't have any trouble finding an attorney to lift the 144 restriction legend with an opinion letter. A Rule 144 opinion letter is a legal document that confirms that a shareholder can sell restricted or control securities without registration. It's used when a shareholder sells restricted stock in reliance on the safe harbor from registration under the Securities Act of 1933, which is provided by Rule 144.
Watch and learn.
FWIW, FOXO only reports the good news and buries the bad news in its SEC filings that most retail penny idiots don't know how to access.
Looks like the"wallstreet condors" that staked their fortunes to this junk weren't smart enough to grab this filing...Looks like selling of said shares in this 8k. They didn't waste a day getting rid of some of the shares in this default agreement. LOL
On September 20, 2022, FOXO Technologies Inc., a Delaware corporation (the “Company”) entered into separate Securities Purchase Agreements with accredited investors pursuant to which the Company issued its 15% Senior Promissory Notes in the aggregate principal amount of $3,458,000 (the “Senior PIK Notes”).
Section 22 of the Senior PIK Notes states that no provision of the Senior PIK Notes can be waived, modified, supplemented or amended except in a written instrument signed - in the case of an amendment - by the Company and 50.01% of the holders of the Senior PIK Notes based on the Aggregate Original Principal Amount (as defined in the Senior PIK Notes) of the Senior PIK Notes.
The Senior PIK Notes are currently in default and the Company has not had the financial ability to correct this default. To resolve the default of the Senior PIK Notes and transition the Senior PIK Note debt to equity in the Company to improve shareholder equity and comply with NYSE continued listing requirements the Company asked the Senior PIK Note holders to consider certain amendments to their Notes. On October 18, 2024, the Company received the approval of over 50.01% of the holders of the Senior PIK Notes based on the Aggregate Original Principal Amount (as defined in the Senior PIK Notes) to enter into Amendment No. 1 to the Senior PIK Notes (the “Amendment”). Pursuant to the Amendment, the Senior PIK Notes will be automatically exchanged into shares of the Company’s Series B Cumulative Convertible Redeemable Preferred Stock, to be designated (the “Series B Preferred Stock”) effective as of 5:00 pm Eastern time on the second business day after the date on which the Company’s stockholders approve the conversion of the Series B Preferred Stock into shares of Class A Common Stock in accordance with the continued listing rules of the New York Stock Exchange American. The Senior PIK Notes (not including accrued and unpaid Interest (as defined in the Senior PIK Notes) which will be waived as part of the automatic exchange) will automatically exchange into a number of shares of Series B Preferred Stock equal to the Original Principal Amount (as defined in the Senior PIK Notes) divided by the Stated Value ($1,000) of the Series B Preferred Stock (the “Automatic Exchange”). Upon the Automatic Exchange, all Senior PIK Notes (including all accrued and unpaid Interest) (which total value was $4,706,628.92 at June 30, 2024) shall be exchanged to equity, cancelled and satisfied in full. No shares of Series B Preferred Stock will be convertible into Class A Common Stock prior to the one-year anniversary of the date of issuance. Each share of Series B Preferred Stock will have one vote.
https://quantisnow.com/insight/foxo-technologies-inc-filed-sec-form-8k-entry-into-a-material-definitive-agreement-5730742
That is a riveting summation and very well presented and supported by actual written testimony. THis looks pretty damning and the worst case scenario is in the offing.
Great post and look forward to more as the case progresses. Scammers!
This "stock" is boring crap traded by the poor.