Trying to find the balance between being the person my dog thinks I am and the people our parents warned us about.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yes, would be nice. Noticed yesterday's move.
If the "apes" at WSB on Reddit get behind this, it would certainly move. But once the SEC filings are caught up, it should move up.
I picked up some more, too.
Yep, buying op...
I expect it to be a little while beforethe updated reports for 2020 and 2021 are out. The new accountants just went to work effective June 3.
Bought yesterday @ $3.56
Hit 4.70s pre-market, now settled down to $4.30s on high volume
Might be great week. Buzz on Reddit about a short squeeze - https://www.reddit.com/r/TRCH/comments/nz19io/lets_get_this_man_to_500_likes_hes_the_ceo_of/
Now we just need to get the 2020 SEC filings current so the "Pink No Information" gets removed by Sept 28 when new SEC ruls go into effect.
Have no idea. Haven't looked at it in a few years
I guess. Been sitting on this one at least three years.
OK, what just happened here today?
My cash balance is 2X needed and my margin purchasing power is 5X. I do know that various platforms can set some of their own rules. Oh, well...
Might not be able to short it.
Message from etrade when I tried to place a pre-market order:
"Your sell short order cannot be processed. Either you do not have a margin account or short sales in this security are not allowed. "
I have a margin account.
So, either this stock cannot be shorted, or per SEC
"In February 2010 the Commission adopted a new short sale price test restriction, which is commonly referred to as the “alternative uptick rule.” The alternative uptick rule is designed to restrict short selling from further driving down the price of a stock that has dropped more than 10 percent in one day compared to the closing price on the previous day."
https://www.sec.gov/answers/shortrestrict.htm
In pre-market today, it is already down -27.65%
UPDATE: tried shorting it after the market opened. Same results.
That's what I am planning on doing as the price is beginning to drop in pre-market hours.
Glad I had doctor's appts yesterday as I planned to short it, but was not home much. I figure when this slowly crumbles, that will be time to short it. Being low float doesn't help situations.
Hey Joey. How ya doin' in all this mess? Safe, I hope.
Yeah, let's do that. Here's a list we can start with:
https://www.marketwatch.com/story/these-bank-stocks-trade-at-discounts-of-up-to-54-and-wall-street-loves-them-2020-05-20
Make Accounts Great Again.
See some familiar faces here. Howdy everyone.
Warren Buffett once said it is wise to be “Fearful when others are greedy and greedy when others are fearful.”
I think we are seeing a lot of greed.
More likely it will get pumped before any deal.
Maybe they are in his dreams...
Probably the same 10q that they file every 3 months for the past 20 years. But, I guess the cost is minimal and they can wait for an opportunity. So can I.
LOL. I understand. This is one that seems to get pumped or promo'd at least once a year on average.
Yep. Happens every now and then. I usually buy it below 0.015, sit on it for months and sell when it pops. Rinse and repeat.
The numbers will stay down here until the next spike which you will never know when it occurs next.
Well, it was an opportunity to buy back in at the dip to 0.014. Like a bad case of herpes, ITDN pops up every now and then when least expected. The fact that the controlling entity keeps up the SEC filings is what keeps me interested. I've had several of these blank check companies over the years and have always done well. Searching for more at present at a low price and low SS.
Wow! Lot of selling today.
New here. This looks interesting and most everything I have looked at checks out. The one thing that puzzles me is why an established (5 year old) company like Yuengling's Ice Cream would hook up with a start-up company with no experience in food distribution. Any answers to that?
I also noticed on page 13 of the OTCMarkets disclosure that "The Company will assume the debt in the total amount of One Million Eight Hundred Eight Nine Thousand Eleven and 81/100 Dollars." https://backend.otcmarkets.com/otcapi/company/financial-report/226327/content
Was Yuengling struggling financially? Looks like they tried a private placement with the intent to go public about 3 years ago. https://www.foodbev.com/news/yuenglings-ice-cream-seeks-5m-finance-in-private-placement-offer/
Thanks in advance for any insights.
LOL. Last time I looked at this one (about mid-August) there was no ask and just 0.10 on the bid.
No, it's not old info. Let's do the math.
39,999,942 o/s per the 10K. I think we all agree on that.
Less 25,800,000 owned by Carlee Electronics (company controlled by Whang), per the 10K, equals 14,199,942 shares left. No institutional or other investors are listed. Hence this is the free (or public) float. The 3,036,037 shares held at the DTC means that they are held in street name and easily tradable. For practical trading purposes you could call it the "effective" float.
Less the 3,036,037 held at DTC leaves 11,163,905 shares unaccounted for and could be freely traded since there are no restricted or preferred share or warrants issued. That is still part of the float.
My educated guess is that since this company has been around since the 1940s, those unaccounted shares are probably held in physical (paper) form, probably forgotten or in a trunk in the attic with departed grandma's stuff. While hard to trade, they are technically still part of the float.
The number we should be looking at is not the change in the o/s, but what is being held at the DTC. If that number goes up, then people are converting their paper shares into electronic shares and that puts more shares in the "effective" float and could be responsible for the sinking in share price essentially "diluting" the "effective" float. If the number at the DTC stays the same, then it is simply the dynamics of supply and demand governing the trading of the "effective" float.
I don't know of any way to see how the number of shares held at DTC has changed over the years, particularly if it has gone up over the years due to internet trading. It would be interesting to know.
Actually, that is a misleading claim being repeated here that the float is only 3.04 million. Again, looking at the OTC Markets page, that is the amount being held via the DTC. It is not the entire float which is 14.2 million (see https://finance.yahoo.com/quote/ITDN/key-statistics?p=ITDN).
And you would win that bet. There hasn't been any change in o/s for at least 20 years.
Looks like the pumpers are slowly sneaking out the back door.
No mystery. People are just uncertain given no concrete news of any impending merger, lower volume, the spread widening and the ask starting to drop.
Actually, we would most likely see an 8K before we see a change on the OTC Markets site as they would take their info from the 8K.
Yep, that's my feeling, too. Same 10K that comes out every year except the dollars charged for the annual audit change. It is a clean shell and SEC reporting. I try to buy these low and sit on them until they pop. They generally pop when there is a r/m, or sometimes just change of control (which may lead to a r/m), rumor or a P&D.
Also people seem to have their concepts mixed up here. The shares that are selling are unrestricted shares, those are the ones that trade freely, versus restricted shares subject to Rule 144 https://www.investopedia.com/terms/r/restrictedstock.asp. OTC Markets give the breakdown of restricted vs. unrestricted shares at https://www.otcmarkets.com/stock/ITDN/security. I suspect that is old information as there is no mention of issued restricted shares, units, warrants, or options as well as no issued preferred shares in the current 10K (see https://www.sec.gov/Archives/edgar/data/51011/000160706219000357/itdn063019form10k.htm, page 18).
The other misleading claim being repeated here here is that the float is only 3.04 million. Again, looking at the OTC Markets page, that is the amount being held via the DTC. It is not the entire float which is 14.2 million (see https://finance.yahoo.com/quote/ITDN/key-statistics?p=ITDN). It is actually the free float, which for all practical purposes in electronic trading is the effective float. But, that also begs the question of who owns the other 11.16 million shares.
Considering that CEO Dr. Sun Tze Whang and CFO Kit Heng Tan have held their positions since 1990 with ITDN, I suspect that they may hold physical (paper) stock certificates since there was no commercial internet back then. Their stock ownership and the role of Carlee Electronics is discussed on pp 17-18 of the current (and past 10K reports). That doesn't change either from year to year.
As far as any merger on the horizon the if/when/who is anyone's guess. The obvious candidate would be Carlee Electronics (https://sgpcifra.com/?option=view&id=55965) but Dr. Whang has been with them since 1985 (if I remember correctly), so for Carlee to go public via a r/m it should have happened years ago.
I have no guess as to what they are looking for. The have $100K and change in cash and with annual net losses at an average of $24k/year they have 4 years to find a candidate. This is from a loan repayment from Acculogic Corp, who had been loaned money in the early 1990s (see the 2017 10K page 4). Interestingly, Kit Heng Tan is CFO of Acculogic (a Canadian company), but the last reference to that relationship is in the 2016 10K, page 16. According to https://de.marketscreener.com/boersen-barone/Kit-Heng-Tan-06TC0G-E/biography/ he is still a director.
There is an interesting web of relationships here, something I have not had time to sort out via social relationship mapping
But for now I'll buy back in when the hoopla dies down and it goes to .02 or below.
Not necessarily. Most likely day traders who always close positions before the end of the day. Ditto short-term swing traders, many of whom do not like to have positions over a weekend.
Other than a slight increase in auditing expenses, no different than page 5 of the 2018 10K, or page 4 of the 2017 10K.