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Once again, NO HOPE.
Those people on Reddit and other social media are amateurs with absolutely no factual knowledge of how bankruptcy works. They are just making up BS that has no factual basis whatsoever.
It is all a fantasy, but a dangerous fantasy as it is costing people a lot of their hard earned money with ZERO chance of a return.
BBBYQ has been liquidated of ALL assets of value. The NOL's have no value with the assets already gone (and even if the assets were still there, the NOL's would likely expire unused, anyway. MOST NOL's do). All that is left is a massive mountain of unpaid debt and liabilities (about $1.5 billion) that would come with the equity if someone were to buy or exchange the common shares. That just ain't gonna happen. You don't have to be a finance professional to see how stupid that would be, and why it has no chance of happening.
SEC Settles Actions Against Executives of Two Reg A Issuers for Involvement in Scheme To Fraudulently Promote Securities Offerings
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 25857 / September 27, 2023
Securities and Exchange Commission v. Adam E. Levin, No. 2:23-cv-08081 (filed Sept. 27, 2023, C.D. Cal.)
Securities and Exchange Commission v. Sheldon Richard Bentley a/k/a Rick Bentley, No. 2:23-cv-02119-JDP (filed Sept. 27, 2023 E.D. Cal.).
The Securities and Exchange Commission today announced charges against Hightimes Holding Corp. Executive Chairman Adam Levin and Cloudastructure, Inc. Chief Executive Officer Rick Bentley for their involvement in separate fraudulent schemes to promote securities offerings that Hightimes and Cloudastructure were conducting pursuant to Regulation A, which, if certain conditions are met, provides an exemption to the Securities Act's registration provisions. Levin and Bentley have agreed to settle the SEC charges.
According to the SEC's complaints, Levin and Bentley participated in the fraudulent promotions of their companies' securities by concealing payments to Jonathan William Mikula through middlemen acting on his behalf, and lavishly entertaining Mikula, in exchange for promotion by Mikula through Palm Beach Venture, a newsletter for which he served as an author and chief analyst. The complaint against Levin alleges that he participated in the fraudulent promotion of Hightimes' securities between at least April 2020 and August 2021. A separate complaint against Bentley alleges that he participated in the fraudulent promotion of Cloudastructure's securities between at least September 2020 and mid-2021. The charging documents further allege that Levin and Bentley made material misrepresentations and omissions to investors in connection with their offerings. According to the complaint filed against Levin, he also engaged in an offering of Hightimes' securities that was unregistered and not covered by a valid registration exemption between June 2020 and December 2022.
This is the second set of actions that the SEC has filed in connection with this fraudulent promotional scheme. In September 2022, the SEC filed a complaint against Mikula, a recidivist securities law violator, alleging that he promoted the securities of Reg A issuers, including Hightimes and Cloudastructure, without disclosing his receipt of compensation for the promotions. As alleged, Mikula promoted the securities through Palm Beach Venture and presented the recommendations as unbiased and not paid for, while he was secretly compensated in the form of cash and lavish entertainment expenses. The SEC litigation is continuing against Mikula, as well as his associate Christian Fernandez, who allegedly acted as a middleman for the promotional scheme.
The SEC's complaint against Levin charges him with violations of Section 10(b) of the Exchange Act of 1934 and Rule 10b-5 thereunder and Sections 5 and 17(a) of the Securities Act of 1933. Without admitting or denying the allegations in the complaint, Levin agreed to the entry of a final judgment imposing a permanent injunction, a penalty of $111,614, and a 3-year bar from serving as an officer and director.
The SEC's complaint against Bentley charges him with violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder and Section 17(a) of the Securities Act. Without admitting or denying the allegations in the complaint, Bentley agreed to the entry of a final judgment imposing a permanent injunction, a penalty of $111,614, and a 5-year bar from serving as an officer and director.
The SEC's investigation was conducted by Yolanda Ochoa and Sarah Nilson, with assistance from Charles Canter and Dora Zaldivar. The case was supervised by Finola Manvelian. The SEC's investigation is ongoing.
SEC Complaint - Rick Bentley
SEC Complaint - Adam E. Levin
There was NOTHING of any consequence added to the docket today. This is exactly what I have been talking about. Just more invented BS from amateurs who know nothing about bankruptcy law and financing just making stuff up.
You really should stop listening to those know nothing amateur idiots.
The shares ARE being cancelled, and you will lose 100% of your investment.
Yeah, and Santa Claus is real.
How do you propose all the bills get cleaned up? Santa Claus, I suppose?
Santa Elena, and all of Mexus' properties, are GARBAGE. Always have been. That is why no one else wanted them and Mexus got them for cheap. They were, and still are, good for absolutely nothing except stock pumping to those investors who know nothing about mineral exploration and geology. And that has pretty much run its course.
There is nothing of value in Mexus. Nothing. No one is going to come in and pay off the massive amount of debt just to back to even, because Mexus has no assets worth a thing.
Its over. All that remains is to turn out the lights and close the door for good.
Yes, in April. But he has been director of enforcement in that office for years, so perhaps that suggests he was trying to bring enforcement actions all along, but the recent Director(s) did not approve of the actual filing of cases? That may also explain why 2 of these cases cover actions that took place so long ago but only now are being filed.
And one from yesterday. Hallelujah, the Fort Worth office is alive!
https://www.sec.gov/litigation/litreleases/lr-25851
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 25851 / September 25, 2023
Securities and Exchange Commission v. Stephen L. Bailey, Sapphire Exploration LLC, and Harris Exploration, Inc., No. 3:23-cv-2130 (N.D. Tex. filed September 25, 2023)
SEC Sues Texas-based Oil-and-Gas Promoter for Multi-Million Dollar Fraud
The Securities and Exchange Commission today charged oil-and-gas promoter Stephen L. Bailey and two companies that he controls, Sapphire Exploration LLC (Sapphire) and Harris Exploration, Inc. (Harris), for orchestrating a series of fraudulent oil-and-gas offerings and for misusing $5 million of the $7.8 million raised from investors.
According to the SEC’s complaint, from approximately November 2017 through May 2023, the defendants raised money from investors for various oil-and-gas projects and properties through the sale of promissory notes, limited-partnership interests, common stock, and working interests in oil-and-gas wells. The SEC’s complaint alleges that the relevant offering documents stated that investor funds would be used for specific oil-and-gas investments, acquisitions, or related expenses. However, according to the SEC’s complaint, Bailey misappropriated and misused $5 million of the $7.8 million raised from investors, including $4.1 million to pay for personal expenses and nearly $670,000 to make Ponzi-like payments to investors. The SEC’s complaint also alleges that Bailey furthered the fraudulent scheme by falsely touting Sapphire’s management team and misrepresenting Harris’s purported acquisition of an oil-and-gas company in Oklahoma.
The SEC’s complaint, filed in U.S. District Court for the Northern District of Texas, charges Bailey, Sapphire Exploration, and Harris Exploration with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder. The complaint seeks permanent injunctions and disgorgement with prejudgment interest against Bailey, Sapphire, and Harris, as well as civil penalties, an officer-and-director bar, and a penny-stock bar against Bailey.
The SEC’s continuing investigation is being conducted by Christopher W. Ahart and Ayesha Ahmed of the Fort Worth Regional Office, and supervised by Jim Etri and Eric Werner. The litigation will be conducted by Matthew J. Gulde and supervised by B. David Fraser.
What?!?!? An actual enforcement case filed by the Fort Worth office, the most ineffective and passive of the SEC's field offices? It must be a mistake!
Sadly, there is no 0.001% chance of any bull thesis. It is, and always has been, 0.000000%. The bull thesis is nothing but an impossible fantasy that cannot, and will not, ever come true.
I know a lot of people are like you and holding, just in case, because they don't feel it is worth it to sell. I get that, but something is ALWAYS preferable to nothing. And nothing is what any holder is guaranteed to get. But they just won't listen to facts from people that actually understand how this stuff actually works. Instead, they prefer to not only listen, but give actual MONEY, to amateurs who just make stuff up to play the game. Please realize that many of the people pushing this bull thesis are really just grifters, making money off of subscriptions and donations through their social media channels. They push the fantasy not so much because they actually believe it, but because it is profitable for them to do so. And not by making money on the stock.
There is no opportunity. Never was. That is what all these bullish owners are missing. The entire bull thesis is FAKE, created by people who have NO idea how the markets, and bankruptcy law, works.
You were guaranteed to lose the second you bought the shares. There was never any chance that equity holders would recover a penny. NONE.
You need to understand what is an opportunity and what is just plain ignorant BS.
Go check out the Reddit Board or the YouTube videos pumping BBBYQ and pushing all the conspiracy theories. Your satirical post about NASDAQ wouldn't even begin to touch the level of crazy you find in the BBBYQ bagholders and their insane beliefs in why they are "gonna get paid".
And they are all dead serious about it. They really believe it - at least to some extent.
So yeah, it can be difficult to determine what is real crazy and what is fake crazy in these Meme stocks.
Ah, so is that where the delusion comes from? You feel you "deserve" to make money? How is that - your entitlement somehow supersedes facts and reality of this being a worthless pump and dump?
No one "deserves" to make money in a scam/pump and dump, which COWI most certainly is. The only people making money in this are the insiders, like Lloyd, and the toxic death spiral lenders. Everyone else is going to lose as the winners take your money.
BBBYQ 8-K is out. It confirms the common shares will be cancelled and are without any value, and the effective date of the Bankruptcy is expected to be on or around September 30.
FINRA is expected to terminate trading in the stock immediately upon the Notice of Effectiveness being filed with the Bankruptcy Court. That can easily occur during the trading day, so no one should be surprised when the plug is pulled without any warning.
BBBYQ actually put out an 8-K today that summarizes the approved Bankruptcy Plan. This is a true rarity among bankrupt companies. Of course, the 8-K makes it perfectly clear that the common shares are being cancelled and are without value.
"The Company has no preferred shares issued or outstanding and has 782,005,210 shares of common stock issued and outstanding as of July 20, 2023. On the effective date of the Plan, all of these shares will be canceled, released, and extinguished and will be of no further force or effect pursuant to the Plan."
It should help to hear it directly from the Company rather than in the court documents that most people either never see, or don't understand correctly. But let's see what effect it has on the market tomorrow and how many brain-dead idiots will continue to claim the shares will still have value in the future due to (spins wheel) merger, short-squeeze, tax-loss carryforwards, conspiracy theory, aliens, or whatever reason they can invent.
The 8-K also confirms that the effective date of the Bankruptcy will be on or about September 30, which we already knew from the timing of the signing of the order by the Judge, but again it is helpful for people to hear it directly from the Company. FINRA should terminate the trading on or about that date, too.
One more time. COWI is not a "normal" penny stock, and no one is negative on it because it is a penny stock.
Instead, COWI is a scammy pump and dump being run to steal money from idiot investors.
I have a problem with that. So do a lot of other people.
It would awesome if the SEC and FBI prosecuted every obvious pump and dump. But, just like the police and, say, speeders or reckless drivers on the freeway, they only capture and charge a tiny fraction of the ones out there, even though they are obvious. COWI included.
COWI has NO potential, except to take all the shareholder's money. On that, their potential is pretty much 100%.
Hilarious. Lloyd Spencer has pumped and dumped COWI 3 times before the current one. He hasn't been caught or put in jail yet, so why not? As long as he can find stupid suckers to buy this stock, he will keep doing it and taking their money.
As soon as one of his stories runs out of suckers who believe it, he just goes dark for awhile, then cooks up some new story and pumps it again with that. Anyone who bothered to look into the history of ClOWIe would know that.
I have never owned COWI - I actually have a brain cell and can read financial statements and SEC filings and understand what they mean.
Most penny stocks do not have ANY toxic death spiral loans. ClOWnIe, on the other hand, has nothing but. Tens of Millions of dollars worth, all of which convert into hundreds of billions of new common shares.
The toxic lenders don't pay people to bash. Instead, their conversions and dumping drives the stock price to nothing all by itself - that is why those loans are called "toxic" as they KILL every single company that issues them. And COWI will be no exception. Instead, they pay people to PUMP the stocks to drive buying volume they need to sell their almost unlimited number of shares.
That is how it really works in the real world. So the real wonder is who is pumping this worthless POS stock on behalf of the toxic lenders? Hmmmmm......
COWI is a scam pump and dump. Nothing more.
There are real penny stocks out there, but COWI isn't one of them.
It should be called CLOWNIE, because it is hilarious how people actually think this insolvent company with tens of millions in toxic debt is somehow a "real" company.
We DON'T have enough CPA's. There is a massive shortage in both the US and Canada right now. It is particularly acute in the public auditing sector. It has been for a number of years, and getting worse, which is why even large public company auditors are outsourcing a portion of the work to foreign nations (India in particular, but others, too). Other sectors are also being squeezed for qualified bodies - there are more and more open jobs for CPA's across all sectors and fewer and fewer graduates to fill them. The professional associations have even been talking about offering monetary incentives to push more college students into the field.
You are misreading the Canadian market maker definition and what they do.
They are what in the US used to be called a "specialist" but is now known as a "Designated Market Maker". They maintain a liquid, orderly market in Exchange traded stocks. The NYSE even has "Supplemental Liquidity Providers" which are additional market makers to handle large volume stocks, which means an NYSE traded company may have multiple market makers.
The difference is that the DMMs and SLPs are largely not paid to do what they do by the company or the Exchange, but make it up on the volume so they are happy to put their own capital at risk to make a market (unless the Exchange can't find a DMM to do it for free). Conversely, on the TSX and TSX-V, volume is much less, so it is more difficult to make a buck just on the spreads while the risk is much greater. Therefore, the TSX, which requires each listed company to have a MM, allows companies to hire them themselves. They are allowed to work out their own deal with a MM, so there is often other considerations beyond just a monthly fee.
In short, the Canadian Exchanges work pretty much the same way the NYSE or American does in the US in regard to the DMM/MM/Specialist role, but the listed company in Canada has to pay for the service out of their own pocket instead of having the cost included in their listing fee like many other Exchanges do. .
The BBBYQ Bankruptcy Plan has been confirmed, and the order has been signed and filed.
FINRA can terminate the stock trading at any time from this point forward.
Spoiler alert - it WON'T. COWI is nothing but an insolvent pump and dump. They have a few thousand dollars in assets and tens of MILLIONS in liabilities, almost all of which are long past due and in default.
They have no ability to actually produce anything, much less the research and technology that could change the world. No one will acquire them because not only do that have massive debt, but they have NO ASSETS OF ANY KIND. They have NO patents of their own, NO exclusive licenses (anyone can get the exact same license from Oxford - just write a check!) and nothing of value at all.
There is NOTHING here. COWI is worthless, and the stock price is now beginning to reflect that as the dumping from the toxic death spiral debt holders is going faster than COWI's lies can rope in new suckers to buy this POS.
Naw, the stupid are the people that bought this stock and still believe it is a viable investment.
I actually have a brain cell and know better than to give PT and his cronies any money.
And why not? Medical MJ cures everything! Or so the promoters seem to claim. It is the answer for everything that ails you.
IMO, what would be better would be to contribute to actual MJ medical research. Let's scientifically determine what it actually is medically useful for, and how much. Thankfully that work is now being done, but it is a lot like the current situation with the PE decongestants. Put it on the market first and test it to see if it actually works later.
I hadn't heard of them either. I also feel out of touch. Not because I hadn't heard of them, but because I don't find either stoner stories or early Alzheimer's to be a "hilarious story" (are the cats getting stoned, or just the woman who envisions funny things from the cats when she is stoned?) But I am sure it has a "deep direct engagement with its audience", as most stoner movies and TV shows do. That doesn't make them popular or profitable by any means, so it really does explain the need to sell the illegal NFT's to turn a profit.
That is certainly true. But I think that this close to the guaranteed cancelation of the stock it may be more likely that any shorter covering is due to them losing the borrow. If the stock they borrowed is, for any number of reasons, no longer available to them, and no other stock is readily available to borrow, they may have to repurchase the stock and deliver it back, which makes it a forced cover.
It doesn't happen nearly as often as pumpers claim it does (MOASS!!!), as there is usually other stock available to borrow. But since almost all of BBBYQ's float is already sold short (and why wouldn't it be considering they will make a guaranteed 100% profit from here), it is very possible that they have just run out of stock to borrow.
I used to love having the Canadian $2 bills. They were absolutely very handy and accepted everywhere. Not so much with US $2 bills. Cashiers often did a double take with those.
Now days, all the $1 and $2 Canadian bills have been replaced with the Loonie and Toonie coins which can be a real hassle due to their weight. A pocket full of those can make a smaller person walk lopsided.
Still very much lying. That is when they actually say something. They have now largely disappeared, as their 10-K is almost 3 months overdue with no filing in sight. They likely cannot pay for the required audit and other filing costs, so management has just abandoned the company and the ticker.
I was closely watching the Kodak situation back then, too. I saw when the cancellation hit the Daily List mid-trading day. All the trading immediately went "poof", and all the pumpers started bitching and moaning about how corrupt the SEC and FINRA were and it was all a conspiracy by the naked shorters to take their money.
I expect it will be the same with BBBYQ. The judge is expected to officially sign the confirmation of the Plan tomorrow morning. FINRA may decide to terminate the ticker at that point, or wait until the 28th when the Plan becomes effective. Either way, it will be interesting to watch. I wish it was just the amoral pumpers that will get burned and lose all their money, but the ignorant suckers that listen to them and their ignorant beliefs and theories about bankruptcy will lose, too.
The timing of the deletion of the ticker and when stock trading will cease forever is entirely up to FINRA.
They may choose to do it as soon as tomorrow when the Judge signs the order confirming the Plan, or they may wait until the effective date on the 28th. One of those two options is the most likely, but they could also do it anytime in between if they feel trading is disruptive to the marketplace.
Their choice. And they will not warn the market of their decision ahead of time. They will just do it, and that will be the end of trading in BBBYQ.
Looks like BBBYQ got kicked to the Expert Market on today's open. That at least is slowing stupid people's ability to buy more of this doomed stock, because the facts certainly didn't stop them.
Yup, sure will. Just ask the common shareholders of other bankrupt retailers such as Sears, Party City, or PacSun.
Oh, wait a minute.........
Exactly. The Plan is confirmed, but not yet signed. That will likely come sometime Thursday, so I doubt FINRA will delete the ticker before that happens. Lately they have been waiting until the Effective Date for Bankruptcy deletions, but they could decide to delete the ticker before that if they decide the trading is harmful to the market.
They always do. Even more so than most bankruptcies (like Sears), BBBYQ was really heavy on the amateurs pushing their wackadoodle bankruptcy theories on social media. Many of them have already tried to cover their tracks by completely deleting their social media accounts, while the others will latch on to those conspiracy theories and continue to insist they are going to get paid
None of them will admit they were wrong and learned from their mistake, much less apologize to all the dummies they sucked into a guaranteed loser (sorry, "looser", as none of them seem to be able to spell correctly) of a trade.
That's it for Bed Bath and Beyond (BBBYQ) common shares. The Bankruptcy Plan was confirmed by the Judge today, which includes the cancelation of the common shares. The effective date will be at the end of the month, so it is likely FINRA will wait to delete the shares until then, but you never know. Trading is going to be very interesting until then. Can't wait to see all the pumpers who guaranteed common share holders were going to "get paid" pivot to their usual conspiracy theories and that secret deals are happening that will make all the common shareholders rich.
The Judge confirmed the Plan which includes the cancellation of the common shares. I believe the Plan's Effective Date is set for the end of September. Usually FINRA deletes the stock as of the Effective Date, but if they feel the market for the common shares is no longer efficient, they could pull the plug sooner.
Regardless of the timing, the common shares are worthless, and will disappear forever soon. There is no hope of any other outcome.
You can't, because those filings do not exist on EDGAR. EDGAR filing was not required for smaller reporting companies until 1999, and EDGAR itself did not exist until IIRC 1996. Anything before that was filed only on paper. You can try contacting the SEC's librarian - Libray@sec.gov and see if they have anything. Several years ago the SEC decided to purge all their paper files and have (slowly) been scanning them into digital files, so maybe they have what you are looking for there.
I am sure plenty of people will still be "hanging around" even after the stock goes to $0. They will continue to claim such BS as "naked shorts" and "MOASS" and pretend all is wonderful, even though a blind man can see it isn't.
COWI is nothing but an obvious pump and dump. FOR THE FOURTH TIME. Lloyd has pumped and dumped COWI 3 times before this latest crock of crap about changing the world with $40 million in debt and $5,000 in cash in the bank. Who really believes that? Anyone? Or is everyone just pretending to believe it in order to suck more suckers into this POS in a vain hope to pump up the stock price so they can get out at a profit, otherwise known as the "greater fool theory"?
You mean post-reverse split? Yes, most likely that is exactly where the stock price will return to, and quickly.
Mexus has nothing of value. But don't hold your breath about the reverse split. It is looking more and more likely by the day that Mexus has gone dark. No filings, no reverse split. And nothing else, either. The end is near.
The price is there just fine on this page. But it ain't pretty. Down to $0.0001. Why anyone would buy this stock, or even hold it, at this point is a mystery. They are already insolvent, and IF Lloyd can find enough money in his couch cushions to pay for the spin-off of the "new" company, COWI is left with nothing but more and more toxic death spiral convertible debt. All of which is killing COWI. They don't call it "toxic" for nothing.
You are wrong about that. It is NOT "single-payer" at all, as most seniors in the USA have supplemental Medicare insurance policies (Medicare Part B and Part D).
So the US Geriatric system is still largely driven by private insurers.