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1,000,000 shares bid at .015 this morning, which is obviously encouraging.
Agree the million shares bid is highly encouraging, especially given the timing.
Here is a related find - Nasdaq Cracks Down On Ipos Of Small Chinese Companies
September 29, 2019
(Reuters) – Nasdaq Inc (NDAQ.O) is cracking down on initial public offerings (IPOs) of small Chinese companies by tightening restrictions and slowing down their approval, according to regulatory filings, corporate executives and investment bankers.
Nasdaq’s attempt to limit these stock market flotations comes as a growing number of them end up raising most of the capital in their IPO from Chinese sources, rather than from U.S. investors.
The shares of most small Chinese companies trade thinly following their U.S. listing, because most of them stay in the hands of a few insiders. Their low liquidity makes them unattractive to many large institutional investors, to whom Nasdaq is seeking to cater.
Well put, and moving to a higher grade exchange particularly if they can also get the price above 5 dollars would mean an extraordinary win for this very patient group of speculators. It is important to hear the negative case presented, and to keep it in mind. Yet - "If you dont take risks, you don't drink champagne." - Garry Kasparov
That is exactly right. It is the timing (by the end of October) as they have stated so we can start the countdown to launch without much time left on the countdown clock. Questions that will be answered shortly are 1. Will they get all or some or none of the projects? 2. How do they pay for their interest. They still could issue shares (if so what percentage interest do the original shareholders have), but said they would not do so, and thus debt seems more likely as a funding method, and if debt under what terms? 3. Assuming the stock can hold at a couple dollars or higher, what exchange will they move it to? The OTCQX or better would allow/intice more people in, and if they can get the price over 5 dollars then perhaps even mutual funds etc. could buy, thus bringing in many more interested parties. 4. How will they issue more shares to provide trading liquidity which really is a must to avoid wide and difficult to manage price swings? 5. Will they hire a promotional arm to spread the story, set up a webpage etc? That is a partial list, and since the show is, we rightly assume, about to begin, these are some questions that imminently await answers.
Thanks
Thank you so much!
Can someone kindly repost the paragraph that summarizes the three intended acquisitions Thanks
I called them last year, but have yet to get up the courage to call again as it seemed they charged a very large commission and something like 2k just to open the account...that could have changed or I could be remembering it incorrectly. I likely will have to call them next week. The stock I have is about to undergo a 100 to 1 reverse split so it will go rom 2 cents to 2 dollars so maybe they can get off the pink sheets and then I can get it into a regular account (symbol is krbf). I have a very large position so solving this problem would be a great help. I even tried up in Canada by calling Haywood and they no longer take pink sheet transfers.
Thanks for the replies. None of the larger well known firms will allow shares to be transferred in if on the pink sheets. You can buy them and sell them but not transfer them in. I even tried Haywood in Canada with no luck. Although Alpine Securities will accept them they are outrageously expensive. I doubt many people on this board had any of their shares in certificate form but to any who do there is a problem. It is a problem getting them into a trading account. However this will not be a problem if after the reverse split they move off the pink sheets onto a better rated platform. That would be good for everyone. I am still concerned about their statement they have no plans to issue shares even for an acquisition currently. They do say they did this in part to be able to avoid a take over by issuing new shares, also rather odd given there is nothing to take over at this point. The only way I can put it together is they do a deal for debt, and the deal is so good others want to take it over so bid the price way up and current management blocks the takeover by issuing more shares to solid insider buyers to maintain control. So perhaps that would imply a good outcome.
I have the same question as the last post, a broker to take electronic transfer of a 2 cent stock position of size...hope someone can help. So far I found Alpine Securities will but they are extremely expensive. So hopefully someone knows something more reasonable.
I could use some advice from others on this thread. Action on this one seems likely soon. I had some of my KRBF stock in certificate form and moved it into electronic form, and now I want to move it into an trading account, but neither TD Ameritrade nor Interactive Brokers will take it because it is a "microcap" stock. Where do others have their shares? Any help will be appreciated.
Kreido Biofuels, Inc. presently has no plans, proposal or arrangements to issue any shares of common stock for any purpose whatsoever, including future acquisitions and/or financings.
This line is cut and pasted from the recent release. Perhaps the key word is "presently", but it seems they would not want to have such an illiquid float after the reverse split so they should want more shares out, and then how would they pay for the acquisitions if not with shares? Would they use debt? The best bet is that the acquisitions will occur, otherwise why bother with the shell. The fact that two of the three directors have large blocks of shares, and one has no shares is a surprise. I wonder how that came about, and what it portends?
That is my experience with reverse splits. They do it so they can issue shares to make an acquisition. The only question then is what percentage interest do the original shareholders end up with and how big is the project or projects. If the deals are large enough then even a small percentage can be excellent. It also means management has an interest in the share price staying up since it is their currency for the transaction. So the fact that it has steadied suggests the same reasoning is valid.
Agree, feeling optimistic....Sept 9th obviously close, and they do not do these splits if there is no plan.
Perfect. At least this mean they are actually setting up to do a real project. So some good news at least.
Thank you
What date does the reverse split become effective? This will make it a 2 dollar plus stock. This might mean a better exchange listing, but we still will be diluted by the issue of shares for the project(s). Thanks
Good find, thanks
Another sophisticated post. Thanks.
That is extremely helpful, so thank you very much for that post.
It does feel like the buyers are more numerous than the sellers, as if, as you said, someone knows something, thinks they know something, or perhaps just figures enough time has gone by for one or more of these projects to be ready for prime time. Can anyone summarize what these three companies have in common, in other words, what general business are we talking about? Perhaps this is obvious to some? I generally invest/speculate in a different category, and therefore this question. Thanks in advance.
Great post, thanks.
Looking forward to a post from Quintessence. Also now would be a good time to remove the old post from last year that is at the top of the thread, and which is not no longer relevant. Thanks
Exciting, now we need to see how much dilution, what these companies do/earn, where the funding comes from, and so many more things. This board is about to get extremely interesting!
Yes, excellent post. I suspect their original project must have fallen through and they are looking for another one. Also continuing to hold a sizeable position. Their professional behavior is encouraging.
Your post is spot on as usual.
While we wait here is a little amusement, a quote from Oscar Wilde - "When I was young I used to think that money was the most important thing in life. Now that I am old, I know it is."
1.2 billion Chinese Yuan, in case anyone is curious, is 178,725,684.00 dollars.
Could you summarize what that prior attempt at a deal for AVBN entailed for the board. That would be enlightening for all. Your scenario makes sense.
I saw that too and had the same thought.
Late filings are, of course, not uncommon. Let us hope it is because they have something more to say. It would be nice if someone could call or write to them and inquire. All fingers crossed.
This board is so helpful...I was getting worried about the 10Q. All fingers crossed we get something of substance.
Thank you
While we all wait patiently or impatiently, can someone tell me (and anyone else who is wondering) when the next 10Q is due? Thanks
Thank you. Here is a quote from the latest Hat Trick Letter "...upcoming $1 trillion worth of Belt & Road projects to be launched by China in 68 countries." The first part of the sentence referenced an example, a giant port facility in Sri Lanka giving China access to the entire Indian Ocean region. This example is of what is being called "Debt-Trap Diplomacy", but the point is the size of the Belt & Road initiative.
When is the next 10Q expected? Thanks
Ok, thanks.
I have post 2814 sticky noted at the top of my board in yellow. Can you kindly remove it, thanks.
"If no one ever took risks, Michelangelo would have painted the Sistine floor." - Neil Simon, playwright