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SAGA may own it however we have SAGA shares coming.
A company cannot just take property out without compensation.
We have to be compensated.
There are a lot of moving parts that needs resolution.
The shareholders of ENZC owns it all.
It will all come back to us.
Whether it will reap us financial benefits is unknown.
No 10Q for first quarter.
A 10K should be issued by the end of March to include 4th quarter information.
You keep focusing on Charlie.
Charlie is not driving the train.
The train is being driven by the MAJORITY STAKEHOLDERS of TCRI who are Ali Munaf and the CREW from the Phoenix Group.
At Phoenix Group, we are passionate about the potential of blockchain and cryptocurrency to revolutionize the way we do business. We are proud to be recognized as leaders in the field, offering a comprehensive range of services that spread beyond the fields of the web3 environment.
Our Story
In 2017, Bijan Alizadeh Fard and Munaf Ali established Phoenix Group, which is today a conglomerate of 23 businesses that operate nine mining facilities in the US, Canada, CIS, and the UAE, the last of which being where its joint venture with the Abu Dhabi government has built a $2 billion crypto mining farm that is now considered the biggest of its kind in the world.
Experienced Team
Our Executive Management and Senior Leadership Team represent a renowned group of web3, financial and managerial specialists. Their combined international experience and deep-rooted regional expertise underpin the confidence and ambition with which we continue to build our diversified structure.
Phoenix Group UAE
Our team of experts has decades of experience in their respective industries and is at the forefront of innovation and technology. We are constantly looking for new and better ways to help our clients succeed.
Corporate and Milestones
Company started
2017
First mining
operations in UAE
2017
International Expansion with
Mining in Canada
2018
Became Middle East Official
Distributor of Bitmain
2019
Moved Corporate HQ to
downtown Dubai
2022
Became Official Distributor for
MicroBT
2022
Opened USA
locations for mining
2022
Invested in Bitzero
(Norway)
2022
M2
Launched in
2023
Oman Mining
Under construction
2023
Up Next
TCRI?
?????
2024
TCRI should heat up once funding is secured.
Each of Messrs. Faulkner and Wajcenberg will be paid at the rate of $300,000 per year commencing upon the closing of a debt or equity funding by the Company of a minimum of $75 million.(the “Funding”). The Company has the right to terminate the Employment Agreements as of June 30, 2024 should the Company (i) not achieve revenues of a minimum of $2,000,000 per month for four consecutive months, with the first month occurring by June 30, 2024, and (ii) the Company fails to repay US $75,000,000 (or such other amount as may be mutually agreed by the employee and the Company) by June 30, 2024 towards a line of credit to be obtained by the Company (the “LOC Repayment”).
In order for the milestone to achieve revenues of a minimum of $2,000,000 per month for four consecutive months, with the first month occurring by June 30, 2024 funding should be in place sooner than later.
Also per 8K the funding is $75 million is minimum so it could be more.
I suspect that the funding and the operational plans were in the works when this agreement was signed and expect an 8K about funding any day now.
The organization behind TCRI have been very successful in many of their previous endeavors and have had plans for this ticker since July 27, 2021. They are very deliberate in how they conduct their business dealings and don't operate on the fly. The have had a vision for this ticker for over 2 years and now have set their plans into motion.
WORLD DIGITAL MINING SUMMIT 2021
The question is not who will give Charles $75 million in financing.
The Question is who will give TCRI $75 million in financing.
Follow the BRANDS involved:
Munaf Ali
The Phoenix Group
When the money shows up (the Funding) people will follow.
TCRI is controlled by one of the most successful crypto companies around.
They have a plan for this ticker and we have waiting patiently to put their plan into action.
The plan has been set into motion.
Charlie and Simon may run day to day however the major decisions will come from Dubai.
From the 8K:
TECHCOM INC.
2901, 29th Floor, Boulevard Plaza Tower 2,
Burj Khalifa District, Downtown Dubai, UAE
It is the same address as the Phoenix Group:
Office 2901, Floor 29, Boulevard Plaza Tower 2, Burj Khalifa District, Downtown, Dubai, UAE?
Carl Agren who is Phoenix Technology Consultants LLC Chief Executive Officer signed off on the the employment agreements and the warrant agreements.
The Phoenix Group (Munaf Ali via Alphabit LLC) has the controlling interest in TCRI:
From the SCHEDULE 13D:
On May 26, 2021, AlphaBit entered into a stock purchase agreement (the “Stock Purchase Agreement”) with Mr. Kok Seng Yeap (“Mr. Kok”), pursuant to which AlphaBit pay $550,000.00 in exchange for 55,070,000 shares of Common Stock and 1,000,000 shares of Series A Preferred Stock (the “Subject Shares”) from Mr. Kok. The consideration for the purchase of the Subject Shares that this statement relates to is from the working capital of AlphaBit.
AlphaBit is the record owner of 1,000,000 shares of the Company’s Series A Preferred Stock, which can be converted at any time into up to 15,000,000 shares of Company’s Common Stock.
Item 2. Identity and Background
(a) This Schedule 13D is being jointly filed by AlphaBit, LLC, a Nevada limited liability company (“AlphaBit”), and Munaf Ali (“Mr. Ali”, together with AphaBit, the “Reporting Persons”), a citizen of United Kingdom, who is the sole beneficial owner of AlphaBit.
(b) AlphaBit’s address is Skyview Residences Tower 1, Apartment 4804, Downtown Dubai, UAE; Mr.Ali’s address is Skyview Residences Tower 1, Apartment 4804, Downtown Dubai, UAE.
(c) The principal business of AlphaBit is providing investment advice to regulated cryptoasset funds; Mr. Ali’s present occupation is entrepreneur.
https://www.otcmarkets.com/filing/html?id=15127114&guid=v_d-kaYBuoMSJth
The US is the leading bitcoin mining country so maybe the Phoenix Group wants a stock listing to take advantage of advancing their endeavors.
Bitcoin is measured in units called hash rate, where the hash rate refers to how fast each second a computation can occur on a machine. The network is leveraged to create a transaction and process it. The faster the hash rate, the more money is made. The leading bitcoin mining by countries and their hash rates are as follows:
United States: 35.4%
Kazakhstan: 18.1%
Russia: 11.23%
Canada: 9.55%
Ireland: 4.68%
Malaysia: 4.58%
Germany: 4.48%
https://worldpopulationreview.com/country-rankings/bitcoin-mining-by-country
We now await for the funding which should come sooner than later as milestones are set to begin by June 30, 2024 per 8K:
Each of Messrs. Faulkner and Wajcenberg will be paid at the rate of $300,000 per year commencing upon the closing of a debt or equity funding by the Company of a minimum of $75 million.(the “Funding”). The Company has the right to terminate the Employment Agreements as of June 30, 2024 should the Company (i) not achieve revenues of a minimum of $2,000,000 per month for four consecutive months, with the first month occurring by June 30, 2024, and (ii) the Company fails to repay US $75,000,000 (or such other amount as may be mutually agreed by the employee and the Company) by June 30, 2024 towards a line of credit to be obtained by the Company (the “LOC Repayment”).
https://www.otcmarkets.com/filing/html?id=17218038&guid=v_d-kaYBuoMSJth
Thanks for the response.
I lawsuit would be difficult however it would allow a look under the hood to see what ENZC has actually accomplished.
It only matters to you.
swamp boy is his screen name
It is very adult.
Posters are calling out ENZC for not producing to their satisfaction and screaming from rooftops to sue yet where are the suits.
It doesn't matter who is the author of the link name calling is childish behavior.
swamp boy
You would have to ask the company about NDAs.
Have you hired a lawyer yet? or are you all SMOKE and no FIRE or better yet the pot calling the kettle black.
EZNC is a penny stock and has been so for it's existence.
It is a hi risk hi reward or hi risk low reward or hi risk no reward investment.
The epic rise to the 90s had nothing to do with ENZC itself as many many OTC stock rose to epic heights in February 2021 for no apparent reason before coming crashing back down some slower than others.
Because of ENZC epic rise excitement followed with bold predictions based on the company's PRs and filings as to where the stock was headed which for some reason people decided to buy a PENNY STOCK for much much more than a penny.
ENZC has formed collaborations, partnerships and signed numerous NDAs.
Some of the most recent Press Releases suggests that ENZC is ready to put several drugs into clinical trials.
SAGA comes along and creates a NIGHTMARE of a situation.
IMO the BIGGEST obstruction is the SEC.
SAGA would need a miracle to clean up the mess they created.
Here we are today crucifying the company and all its' faults.
If ENZC is so bad or a scam where was the crucifying a year ago or 2 years ago.
SUE
Why are people calling to sue and not doing anything to actually sue.
Sounds no different than what people are saying about ENZC all SMOKE and no FIRE or better yet the pot calling the kettle black.
Lastly, what is up with all the name calling. Human Nature?
8 Reasons Why Name Calling Is A Sign Of Weakness
Names are more than just words. They identify who we are, where we come from, and often carry deep personal meanings.
So, when someone calls us by a different name or uses a name to tease or insult, it can hurt. Many of us have experienced name-calling at some point in our lives, and it’s never a pleasant experience.
Now, you might wonder, “Why do people call names?” Some believe it’s a way to show power or to make themselves feel better. But in reality, name-calling is a sign of weakness.
It shows that a person might be struggling with their feelings or doesn’t know how to express themselves properly.
This article will explore why resorting to name-calling is not a sign of strength but rather an indication that someone is either emotionally weak.
1. Insecurity on Display
One major root of name-calling lies in insecurity. People often resort to belittling others to elevate themselves, even if just momentarily. By tearing someone else down, they aim to feel superior or divert attention from their own insecurities.
Think of someone who’s unsure about their standing in a group. They might call another person names to get a few laughs and feel more secure in their position.
But deep down, this behavior often reflects more about the name-caller’s internal struggles than the person they’re targeting.
2. Lack of Communication Skills
Effective communication isn’t just about talking; it’s about expressing thoughts, feelings, and concerns in a way that can be understood and respected. Someone who frequently resorts to name-calling often lacks these crucial communication skills.
Instead of articulating their disagreement or disappointment, they default to name-calling as a crude tool. It’s like using a sledgehammer for a job that requires precision.
This approach not only halts meaningful conversation but also shuts down opportunities for mutual understanding.
3. A Struggle with Emotional Intelligence
Emotional intelligence involves recognizing, understanding, and managing our own emotions while also being considerate of others’.
Name-calling signifies a lapse in this domain. It suggests that the individual struggles with managing their emotions, resorting to an outburst instead.
Picture someone who, after a bad day, takes out their frustration on a barista, labeling them “incompetent” over a minor mistake.
This behavior doesn’t necessarily mean they believe the barista is genuinely incompetent. Rather, it’s an eruption of their own accumulated stress and emotions.
4. The Emotional Escape
Name-calling isn’t just an outburst; often, it’s an emotional escape. Instead of addressing a problem or expressing feelings in a constructive way, name-calling serves as a shortcut.
It’s a way of avoiding genuine conversation and understanding. By resorting to name-calling, a person can momentarily feel powerful without dealing with the actual issue at hand.
Imagine two friends having a disagreement. One could articulate their feelings, explaining their perspective. Instead, they choose to call the other “stupid”. The conversation stops dead, and the underlying issue remains unresolved.
5. Reflecting Internal Turmoil
Oftentimes, name-calling is a manifestation of internal turmoil. Someone who’s unhappy, stressed, or facing personal issues might lash out at those around them.
The world can be a tough place, and everyone has their battles. However, taking out frustrations on others, especially through name-calling, is counterproductive. It doesn’t solve any problems, and it creates new ones in the process.
6. A Desperate Need for Control
People often use name-calling as a tactic to gain control over a situation or person. By assigning a derogatory label, the name-caller tries to diminish the other person’s value or credibility. It’s a low blow, really, aiming directly at one’s self-worth.
Consider an argument between two colleagues. One of them might start name-calling to gain the upper hand, making the other person feel smaller. It’s a power play.
Instead of discussing the issue, they divert attention and try to dominate the conversation.
Such behavior often stems from a person’s own feelings of inadequacy. Name-calling becomes a defense mechanism, a way to feel in charge, even if it’s just for a fleeting moment.
7. Lack of Empathy
Empathy is the ability to understand and share the feelings of another. Those who resort to name-calling often struggle with this.
They fail to consider how their words might impact the other person, focusing solely on their own emotional release.
Imagine a student frustrated with a teacher’s assignment. Instead of asking for help or expressing their confusion, they might label the teacher as “unfair” or “dumb”.
In doing so, they ignore the teacher’s intentions and the effort put into the lesson plan.
This isn’t just about being inconsiderate. It shows a genuine gap in understanding human emotions and connections.
A pattern of name-calling hints at an inability, or at least a reluctance, to step into someone else’s shoes.
8. Using Deflection
Name-calling can be a form of deflection. The name-caller shifts attention away from their own shortcomings or the actual topic of discussion.
Hoping to change the direction of the conversation entirely, they introduce a new narrative.
Take a sports team, for instance. A player who doesn’t perform well might call a teammate a “show-off” for scoring. Rather than acknowledging their own lack of contribution, they create a distraction, pointing fingers elsewhere.
This tactic is an evasion strategy, dodging responsibility. While it might offer temporary relief to the name-caller, it does nothing to address the real issues at play.
Conclusion
The next time someone calls you a name, try to remember that it’s not about you, but about their own struggles. And if you ever feel the urge to call someone else a name, take a deep breath and think about why you’re feeling that way. Name-calling doesn’t help anyone and only shows weakness.
FAQs
What does name calling say about a person?
Name-calling often reflects more on the person dishing it out than the one receiving it. At its core, it’s a sign of frustration, a lack of effective communication skills, or even personal insecurities.
People who resort to this might be dealing with their own issues and use name-calling as a sort of escape or defense mechanism.
What is name calling a symptom of?
Name-calling can be a symptom of various things. In some cases, it might indicate low self-esteem. Someone might use derogatory terms to bring others down, hoping it’ll lift them up in comparison.
In other situations, it could signal poor communication skills or an inability to express feelings and frustrations constructively. There’s also a possibility that it’s a result of stress or personal turmoil, leading someone to lash out as a coping mechanism.
What are reasons to avoid name calling?
Avoiding name-calling is vital for maintaining healthy relationships and effective communication. Words have power, and negative ones can leave lasting emotional scars.
And, name-calling halts genuine conversation. Instead of addressing the issue at hand, it shifts focus and can escalate conflicts. Remember, meaningful dialogue involves understanding and respect, and name-calling simply stands in the way of both.
How do you deal with people who call you names?
As mentioned, name-calling often says more about the person doing it than about you. Stay calm and avoid retaliating with more name-calling, as this can only escalate the situation. Instead, set boundaries.
Politely, but firmly, let the person know that such behavior is unacceptable. If necessary, distance yourself from consistent offenders. Always prioritize your mental and emotional well-being.
https://www.attractiondiary.com/name-calling-is-a-sign-of-weakness/#:~:text=Now%2C%20you%20might%20wonder%2C%20%E2%80%9C,how%20to%20express%20themselves%20properly.
The trial is being done in Belgium at a University Research Hospital connected to a University of 50,000 students according to link you posted.
Belgium is in 2nd place in Europe, in terms of number of clinical trials per inhabitant.
https://pharma.be/sites/default/files/2021-09/brochure_clinical_trials.pdf
Below is a repost from Nov 18, 2023.
At the end of the post is a link to an actual SEC action on a SPAC deal gone wrong.
While SAGA most likely will be kick off of NASDAQ they could face enforcement action as well.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173254129
falon
Re: DRHUMI post# 190399
Saturday, November 18, 2023 12:20:12 PM
Post#
190406
of 192228
I agree however according to the lawsuit SAGA illegally gave shares to ENZC and ENZC leadership.
Although no vote occurred ENZC cannot vote shares intended for their shareholders.
On a date not known, but sometime prior to October 11, 2023, Sagaliam issued
36,000,000 Class A shares to Enzolytics. If the transfer is not cancelled, Enzolytics therefore
possesses 88 percent of the beneficial ownership of shares in Sagaliam, giving Enzolytics supermajority control over any shareholder vote.
On a date not known, but sometime prior to October 11, 2023, Sagaliam also
issued 2.5 million Class A shares the Zhabilov Trust, Charles Cotropia, Dr. Gaurav Chandra and
Dr. Joseph Cotropia. If the transfer is not cancelled, those parties therefore hold a total of 6.17
percent of the total shares of Sagaliam. Upon information and belief, Zhabilov Trust, Charles
Cotropia, Joseph Cotropia and Guarav Chandra are all shareholders and insiders of Enzolytics.
Did anyone get proxy materials? Hell no
These Aholes included us in their scheme and didn't send no proxies.
I suspect the SEC make take some action as a lot of their rules were broken and the SEC don't like FALSE and MISLEADING STATEMENTS and SAGA is probably already on SEC's Enforcement Division radar with their late or lack of mandatory reporting.
This was some CROOKED shit and some heads should roll.
What constitutes an SEC violation?
Manipulation of investment prices. Making false or misleading statements about a company, including in SEC filings. Offering fraudulent or unregulated securities. Anything else that could be considered fraudulent conduct.
What happens if you violate SEC rules?
In addition, the SEC can seek civil monetary penalties, or the return of illegal profits (called disgorgement). The court may also bar or suspend an individual from serving as a corporate officer or director.
I did a search for SEC suing for not sending out proxies and could not find any however I did come across a SEC suit against a SPAC and its' target:
https://www.willkie.com/-/media/files/publications/2021/07/secbringsspacenforcementactionagainstspac.pdf
It was a great for the company that owns this ticker.
Stock will perform when assets are put into it.
You keep focusing on Charlie and Simon who are just the hired help and can be easily replaced if needed.
What is your opinion, thoughts or insights on the board of directors who are a CEO and CFO in the Phoenix Group organization.
Mr. Carl Stuart Agren, age 47 – From April 2022 through the present, Mr. Agren has served as Chief Executive Officer of Phoenix Group, a company specializing in cryptocurrency and blockchain technology. From May 2018 thought March 2022, he served as Chief Operating Officer of G42 Cloud. The Company believes the Mr. Agren is well suited to be a Director due to his experience in international senior level management and as a company officer. Mr. Agren has a Master of Art, Business Information Systems, from the University of Phoenix and a Bachelor of Science, Business Information Systems from the University of Idaho.
Mr. Sheharyar Haider Malhi, age 41 – From July 2023 through the present, Mr. Malhi has been the Chief Financial Officer of Phoenix Group. From May 2022 through July 2023, he was Chief Financial Officer of AI Group. From March 2022 through May 2022, he was Director of KPMG Norway. From November 2018 through March 2020, he was Chief Financial Officer of AK Jensen. From November 2008 through November 2018, he was Senior Manager at KPMG in Ireland and Norway. The Company believes that Mr. Malhi is well qualified to be a Director due to his extensive senior management and director level roles throughout Europe and the Middle East.
What is the duty of the board of directors of a public corporation?
The Bottom Line
The board has a fiduciary duty to make decisions and take actions in the interest of shareholders and stakeholders. It operates independently of management and focuses on a company's major issues rather than its day-to-day operations.
What are the roles and responsibilities of the board of directors?
Set the organization's strategic direction, defining its mission, vision, and values.
Approve and monitor the implementation of strategic plans and initiatives.
Evaluate the organization's performance against strategic goals and make adjustments as needed.
What are the three primary functions of a board of directors?
A board of directors has three formal responsibilities.
They are to oversee the management of the company, to approve corporate strategy, and to make sure the financial statements are accurate. In order to do these things, they need to be able to understand financial statements and have knowledge of business law.
We Good
no
We Very Good
no
We Very Very Good
TCRI is a shell company that is connected to the Phoenix Group, Inc. recently appointed a CEO, a CFO and two board members.
The foundation is set.
Waiting for next development.
Key Company Executives
Techcom Inc.
Charlie Faulkner
Chief Executive Officer
Simon Wajcenberg
Chief Financial Officer & Secretary
Sheharyar Haider Malhi
Director
Carl Stuart Agren
Director
https://www.wsj.com/market-data/quotes/TCRI/company-people/executive-profile/244942597
Biographical Information
Mr. Carl Stuart Agren, age 47 – From April 2022 through the present, Mr. Agren has served as Chief Executive Officer of Phoenix Group, a company specializing in cryptocurrency and blockchain technology. From May 2018 thought March 2022, he served as Chief Operating Officer of G42 Cloud. The Company believes the Mr. Agren is well suited to be a Director due to his experience in international senior level management and as a company officer. Mr. Agren has a Master of Art, Business Information Systems, from the University of Phoenix and a Bachelor of Science, Business Information Systems from the University of Idaho.
Mr. Sheharyar Haider Malhi, age 41 – From July 2023 through the present, Mr. Malhi has been the Chief Financial Officer of Phoenix Group. From May 2022 through July 2023, he was Chief Financial Officer of AI Group. From March 2022 through May 2022, he was Director of KPMG Norway. From November 2018 through March 2020, he was Chief Financial Officer of AK Jensen. From November 2008 through November 2018, he was Senior Manager at KPMG in Ireland and Norway. The Company believes that Mr. Malhi is well qualified to be a Director due to his extensive senior management and director level roles throughout Europe and the Middle East.
Charles Faulkner, age 38 - Mr. Faulkner has served as Chief Executive Officer of EdgeMode Inc. from March 2020 to present. At EdgeMode, he is responsible for general management of business operations, vision and growth of the business, including corporate development, marketing and strategy. He worked as a director responsible for day to day management of operations at North Block Capital Led. from December 2017 to March 2020. Mr. Faulkner has a Bachelor of Arts with honors from De Montfort University.
Simon Wajcenberg, age 56 - Mr. Wajcenberg has served as the Chairman and Chief Financial Officer, with responsibility for board oversight and financial operations, at EdgeMode Inc. from March 2020 through the present. He served as Chief Executive Officer of North Block Capital Ltd from December 2017 through March 2020. He has served as Chairman of the Board of EdgeMode Inc., a company publicly traded in the United States, from February 2022 to present. Mr. Wajcenberg has passed three A levels in the United Kingdom.
https://finance.yahoo.com/sec-filing/TCRI/0001683168-23-007677_1481443
Phoenix Group Announces Landmark IPO on the Abu Dhabi Securities Exchange
https://finance.yahoo.com/news/phoenix-group-announces-landmark-ipo-010300263.html
ABU DHABI, UAE, Dec. 03, 2023 (GLOBE NEWSWIRE) -- Phoenix Group PLC, a trailblazer in the cryptocurrency mining and blockchain industry, proudly announces its Initial Public Offering (IPO) on the Abu Dhabi Securities Exchange (ADX), slated for December 5th, 2023. This historic event marks the first public listing of a crypto mining and blockchain technology company in the Middle East, reflecting the region's rapidly expanding tech and fintech sectors.
Event Details:
Date of IPO: December 5th, 2023
Location: Abu Dhabi Securities Exchange (ADX)
Phoenix Group's IPO represents a significant leap forward for the UAE's burgeoning tech landscape. With a robust post-IPO valuation estimated at approximately $2.47 billion, Phoenix Group is setting a new benchmark for innovation and investment in the region.
Key Highlights of the IPO:
The IPO offer period closed with a massive oversubscription, signaling strong investor confidence.
Phoenix Group's strategic initiatives, including a joint venture with the Abu Dhabi government, exemplify the successful fusion of public policy and private sector innovation.
The Group's commitment to environmental sustainability is underscored by the development of the largest hydropower mining farm in Abu Dhabi, recognized as the world's largest.
Bijan Alizadehfard, Co-Founder & Group CEO of Phoenix Group PLC, remarked, "As we approach our IPO, we're thrilled to unveil our ambitious vision for the future. Anchored by four pillars - innovation in Bitcoin mining, renewable energy ventures, advanced manufacturing capabilities, and strategic acquisitions – we're poised to redefine the technology landscape. This IPO is more than an achievement; it's a launching pad for Phoenix Group's global aspirations."
Munaf Ali, Co-Founder & Group MD of Phoenix Group PLC, also shared, "The momentum building up to our IPO reflects the excitement and optimism for our future endeavors. We're embarking on a journey that promises to enhance our technological footprint, driven by our commitment to digital finance and tech innovation. This is a pivotal moment for us to propel Phoenix Group into a new era of growth and global impact."
About Phoenix Group PLC
Phoenix Group PLC is an industry leader in cryptocurrency mining, tech, and blockchain, renowned for its innovative solutions that drive the digital finance sector forward. The company has successfully developed and implemented proprietary blockchain technologies and advanced crypto mining operations globally, establishing itself as a trusted entity in the tech space. As Phoenix Group prepares for its listing on the ADX under the trading symbol PHX, it is poised to leverage its accomplishments to expand further and continue its trajectory of innovation and growth within the global digital economy.
Social Links
X (Formal Twitter): https://twitter.com/phoenixgroupuae
LinkedIn: https://www.linkedin.com/company/phoenixgroupuae/
Media Contact
Brand: Phoenix Group PLC
Contact: Media team
Email: info@phoenixgroupuae.com
Website: https://phoenixgroupuae.com/press/
SOURCE: Phoenix Group PLC
There are a lot of unanswered questions as to what is happening with TCRI.
Why establish a website?
https://techcom-inc.com/
Why did TCRI appoint the CEO and CFO of EdgeMode?
Is EdgeMode part of the future plans for TCRI?
Charles Faulkner, age 38 - Mr. Faulkner has served as Chief Executive Officer of EdgeMode Inc. from March 2020 to present. At EdgeMode, he is responsible for general management of business operations, vision and growth of the business, including corporate development, marketing and strategy. He worked as a director responsible for day to day management of operations at North Block Capital Led. from December 2017 to March 2020. Mr. Faulkner has a Bachelor of Arts with honors from De Montfort University.
Simon Wajcenberg, age 56 - Mr. Wajcenberg has served as the Chairman and Chief Financial Officer, with responsibility for board oversight and financial operations, at EdgeMode Inc. from March 2020 through the present. He served as Chief Executive Officer of North Block Capital Ltd from December 2017 through March 2020. He has served as Chairman of the Board of EdgeMode Inc., a company publicly traded in the United States, from February 2022 to present. Mr. Wajcenberg has passed three A levels in the United Kingdom.
What move does Ali Munaf co-founder and Group Managing Director, Phoenix Group plans to make with TCRI?
https://phoenixgroupuae.com/
AlphaBit, LLC, a Nevada limited liability company, is the record holder of 55,070,000 shares of Issuer's Common Stock and 1,000,000 shares of Issuer's Series A Preferred Stock. The 1,000,000 shares of Issuer's Series A Preferred Stock may be converted at any time into up to 15,000,000 shares of Issuer's Common Stock.
Item 2. Identity and Background
(a) This Schedule 13D is being jointly filed by AlphaBit, LLC, a Nevada limited liability company (“AlphaBit”), and Munaf Ali (“Mr. Ali”, together with AphaBit, the “Reporting Persons”), a citizen of United Kingdom, who is the sole beneficial owner of AlphaBit.
(b) AlphaBit’s address is Skyview Residences Tower 1, Apartment 4804, Downtown Dubai, UAE; Mr.Ali’s address is Skyview Residences Tower 1, Apartment 4804, Downtown Dubai, UAE.
(c) The principal business of AlphaBit is providing investment advice to regulated crypto asset funds; Mr. Ali’s present occupation is entrepreneur.
Interest in Securities of the Issuer
(a) - (b) The aggregate number and percentage of shares of Common Stock beneficially owned by the Reporting Persons (based upon a total of 79,990,254 shares of Common Stock, par value $0.00001 per share, issued and outstanding, which includes 64,990,254 shares of the Company’s common stock outstanding as of July 27, 2021 and assuming conversion of all of the Series A Preferred Stock beneficially owned by the Reporting Person) are as follows:
AlphaBit, LLC
Amount beneficially owned: 70,070,000(1) Percentage: 87.60%
Number of shares to which the Reporting Person has:
i. Sole power to vote or to direct the vote:
ii. Shared power to vote or to direct the vote: 70,070,000(1)
iii. Sole power to dispose or to direct the disposition of:
iv. Shared power to dispose or to direct the disposition of: 70,070,000(1)
https://www.sec.gov/Archives/edgar/data/1481443/000168316821003194/schedule13d.htm
Who holds the other 9,920,254 shares not owned by AlphaBit?
There are many many questions to be answered.
Hopefully in the weeks and months ahead they will be revealed.
The stage has been set:
Website
CEO
CFO
Established owners of TCRI
Phoenix Group's IPO Sees Unprecedented 180x Oversubscription from Retail Investors, Signifying Strong Market Confidence
ABU DHABI, UAE, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Phoenix Group PLC (https://phoenixgroupuae.com), a leading player in cryptocurrency mining, tech, and blockchain, has successfully closed its initial public offering (IPO) with an impressive 33 times oversubscription, demonstrating robust investor interest. The company's offer of 907,323,529 shares has seen an overwhelming demand, particularly from retail investors who oversubscribed by 180 times. Professional investors also showed strong support, contributing to a 22-fold oversubscription, underscoring the strength and potential of Phoenix Group.
The offer period, which concluded on November 18, 2023, witnessed an enthusiasm that far surpassed expectations, showcasing the company's solid standing in the burgeoning Middle Eastern crypto economy.
Bijan Alizadehfard, Co-Founder & Group CEO of Phoenix Group PLC, added: "The overwhelming interest during the offer period is a powerful endorsement of our pioneering role in Cryptocurrency Mining and Blockchain. The anticipation leading up to our listing on ADX, as reflected by the oversubscription, is a testament to the confidence investors place in our vision and the potential they see in Phoenix Group."
Munaf Ali, Co-Founder & Group MD of Phoenix Group PLC, commented on this milestone: "The exceptional oversubscription during our offer period is a clear indicator of the market's endorsement of Phoenix Group as a leader in Cryptocurrency Mining and Blockchain Technology. As we prepare for our listing on ADX on December 4, 2023, under the trading symbol PHX, we are more committed than ever to enhancing our mining capabilities and driving tech innovations forward."
The successful close of the offer period paves the way for Phoenix Group's anticipated listing on the ADX, a significant step that will further solidify its position as an innovator and leader in the tech and blockchain sectors. The listing, scheduled for December 4, 2023, under the trading symbol PHX, marks a new era for Phoenix Group.
Phoenix Group PLC extends its deepest gratitude to its investors, partners, and team for their unwavering support and contribution to the resounding success of the offer period. The company looks forward to embarking on its next phase of growth and innovation as it prepares for its public listing.
About Phoenix Group PLC
Phoenix Group PLC is an industry leader in cryptocurrency mining, tech, and blockchain, renowned for its innovative solutions that drive the digital finance sector forward. The company has successfully developed and implemented proprietary blockchain technologies and advanced crypto mining operations globally, establishing itself as a trusted entity in the tech space. As Phoenix Group prepares for its listing on the ADX under the trading symbol PHX, it is poised to leverage its accomplishments to expand further and continue its trajectory of innovation and growth within the global digital economy.
https://www.globenewswire.com/news-release/2023/11/21/2783783/0/en/Phoenix-Group-s-IPO-Sees-Unprecedented-180x-Oversubscription-from-Retail-Investors-Signifying-Strong-Market-Confidence.html
The De-SPAC Timeline
After a SPAC and its target company announce their merger agreement, the first phase of the de-SPAC begins and the companies file an S-4 proxy statement with the SEC. The S-4 form provides financial information about the two parties, along. with other information that shareholders may be interested in, such as the history of the target company, information about its industry and the backgrounds of its founders and executives. Sometimes the SEC will ask the merger partners to clarify certain pieces of information in the S-4. This first phase usually takes between two to four weeks to complete.
Once the S-4 is on file at the SEC, the merger parties determine the date that shareholders will vote on the merger. A proxy solicitor is hired and begins the process of contacting shareholders to inform them of the upcoming vote and to encourage them to participate. This second phase generally takes another two weeks to complete.
In the final phase, which lasts about two weeks, the target company holds a road show to meet with the SPAC’s shareholders to sell them on the benefits of the merger. If the transaction goes through, the parties will file another document with the SEC, which is called an 8-K. The 8-K form announces the conclusion of the deal, at which point the target company becomes the surviving entity in the merger.
From beginning to end, the whole de-SPAC process may take as little as six to eight weeks to complete, in a best-case scenario. The process can take up to several more months, however, depending on the length of the SEC’s review of the necessary filings.
The De-SPAC Process
For private companies looking for capital to fund growth, a de-SPAC can offer an accelerated path to that goal. In many other ways, using a de-SPAC transaction to gain access to public capital is similar to the IPO process. There is an intense period of work after the merger plan is announced to complete regulatory filings and answer questions from prospective shareholders. The selling of the deal typically happens in a road show over the course of several weeks, after which shareholders have the right to either commit to the merger or not. This last part differs from an IPO in that a SPAC has already raised money, whereas an IPO involves raising new capital. For the company hoping to become public, however, the stakes are the same: They can raise the capital they’re hoping for, they can get more than they’re hoping for, or they can get less.
https://www.netsuite.com/portal/resource/articles/erp/de-spac.shtml
PR tidbits
The PR reads like all systems go with some hiccups.
I am not sold as there are still red flags that needs to be addressed.
The SEC is going to have to give their blessing.
Where is the S-4?
The purpose of the amended OTC Annual Report filed today is to include the audited financial statements for December 31, 2022 and 2021. As part of the recently completed sale of the two operating subsidiaries, Virogenetics, Inc. ("VIRO") and Biogenysis, Inc. ("BGEN"), to Sagaliam Acquisition Corp. (NASDAQ:SAGA)("SAGA") post-closing deliverables included the Company providing audited financial statements for inclusion in the regulatory and NASDAQ filings of SAGA.
Finally audited Financials.
The Company has received numerous inquiries from various entities and individuals regarding the status of the SAGA transaction and the status of the operations of VIRO and BGEN. With the completed sale of the operating subsidiaries the Company will no longer be the source of news on the progress and developments of VIRO or BGEN. SAGA is a NASDAQ entity and takes a more conservative approach to press releases as they are a SEC reporting entity and SAGA's policy is to report material events in 8-K filings accompanied by a press release.
No shit.
SAGA don't report all their material events.
Regarding the ongoing European Medicine Agency permitting efforts for ITV-1it has been determined that the trials should be expanded to cover the ability to be classified as an immunomodulator. The Clinical Trials will now include testing on patients with cirrhosis; cancer patients after receiving chemotherapy and radiotherapy treatments, HIV and all diseases in which there is an immune system decline. This is a change in the target group of patients from HIV to immunodeficient on hematological patients.
Interesting
Biogenysis, Inc. has made significant progress in its Patent Cooperation Treaty (PCT) application covering its inventions relating to anti-SARS-CoV-2 Monoclonal Antibodies. The PCT application has now advanced to filing as a U.S. National Stage Application in the U.S. Patent Office and as a formal European Patent Organization (EPO) application. The EPO application makes possible coverage in the 39 contracting countries within the EPO. These countries include all of the countries in the European Union, the United Kingdom, and the extensive list of 39 member countries throughout Europe and adjacent regions. https://www.epo.org/about-us/foundation/member-states.html.
The discoveries made by the Company have been recognized as novel and inventive by the International Patent Office. As a result, the Company is entitled to apply for patents and claim exclusive rights to these discoveries for 20 years in each member country under the Patent Cooperation Treaty.
Does Regeneron "one in a million discovery" infringe on our patent?
An initial interest has been generated from the progress on the Africa project through VIRO's partner for additional clinical trials in Asia and India. A draft contract had been received prior to close and was being considered by VIRO for both of these markets.
This sounds promising.
The African clinical trial is expected to conclude with a final report by the end of 2024. We believe that all future progress on this and potential other Clinical Trials will be timely disclosed by SAGA.
Only a year late.
Barry Kostiner commented, "My trip to Bulgaria was inspiring. Meeting members of the VIRO management team and their premier manufacturing and clinical trial vendors deepened my appreciation for the technology and opportunity ahead. An affiliate of GLD, the former sponsor of Sagaliam, recently filed a lawsuit asserting that the transaction with VIRO and BGEN disenfranchises GLD of its voting rights. We intend to vigorously defend Sagaliam against the lawsuit. We are committed to protecting the interests of our shareholders and believe that the lawsuit is without merit, particularly given that no shareholder would benefit from the dissolution of Sagaliam.
GLD said they were not given notice to the vote.
If that is true regardless of whether they would had made a difference presents a problem for SAGA in my opinion.
No,
The dividend date has not be announced yet.
TCRI is controlled by one of the most successful crypto companies around.
They have a plan for this ticker and have waiting patiently to put their plan into action.
Charlie and Simon may run day to day however the major decisions will come from Dubai.
We good here
Why did TCRI appoint the CEO and CFO of EdgeMode?
Is EdgeMode part of the future plans for TCRI?
Charles Faulkner, age 38 - Mr. Faulkner has served as Chief Executive Officer of EdgeMode Inc. from March 2020 to present. At EdgeMode, he is responsible for general management of business operations, vision and growth of the business, including corporate development, marketing and strategy. He worked as a director responsible for day to day management of operations at North Block Capital Led. from December 2017 to March 2020. Mr. Faulkner has a Bachelor of Arts with honors from De Montfort University.
Simon Wajcenberg, age 56 - Mr. Wajcenberg has served as the Chairman and Chief Financial Officer, with responsibility for board oversight and financial operations, at EdgeMode Inc. from March 2020 through the present. He served as Chief Executive Officer of North Block Capital Ltd from December 2017 through March 2020. He has served as Chairman of the Board of EdgeMode Inc., a company publicly traded in the United States, from February 2022 to present. Mr. Wajcenberg has passed three A levels in the United Kingdom.
Note 11. Subsequent Events.
Since the sale of the operating subsidiaries Virogentics, Inc. and Biogenysis, Inc. to Sagaliam Acquisition Corp.(SAGA) on September 15, 2023 the company has had no operations and is developing a new business strategy to implement. The company has voted its majority interest in SAGA in favor of both proposals included on the proxy, ensuring a quorum will be present and passage of the matters put to vote. The process for declaring and distributing the dividend of the Saga shares will begin in the fourth
quarter of 2023with an expected completion date in the first half of calendar year 2024.
We good.
We don't care.
What does bode well for TCRI is the person that owns and controls it:
We you be so kind to share some background on that individual.
I will help you bet started:
Item 1. Security and Issuer
This statement relates to the shares of common stock, par value $0.00001 (the “Common Stock”) of TechCom, Inc. (the “Issuer”), with its principal office located at 1600 E Florida Ave, Ste 214, Hemet, CA 92544-8648.
Item 2. Identity and Background
(a) This Schedule 13D is being jointly filed by AlphaBit, LLC, a Nevada limited liability company (“AlphaBit”), and Munaf Ali (“Mr. Ali”, together with AphaBit, the “Reporting Persons”), a citizen of United Kingdom, who is the sole beneficial owner of AlphaBit.
(b) AlphaBit’s address is Skyview Residences Tower 1, Apartment 4804, Downtown Dubai, UAE; Mr.Ali’s address is Skyview Residences Tower 1, Apartment 4804, Downtown Dubai, UAE.
(c) The principal business of AlphaBit is providing investment advice to regulated cryptoasset funds; Mr. Ali’s present occupation is entrepreneur.
(d) During the last five years, none of the Reporting Persons has been convicted in any criminal proceedings.
(e) During the last five years, none of the Reporting Persons has been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of or prohibiting or mandating activities subject to federal or state securities laws or finding any violation with respect to such laws.
(f) AlphaBit is a Nevada limited liability company; Mr. Ali is a citizen of the United Kingdom.
Item 3. Source and Amount of Funds or Other Considerations
On May 26, 2021, AlphaBit entered into a stock purchase agreement (the “Stock Purchase Agreement”) with Mr. Kok Seng Yeap (“Mr. Kok”), pursuant to which AlphaBit pay $550,000.00 in exchange for 55,070,000 shares of Common Stock and 1,000,000 shares of Series A Preferred Stock (the “Subject Shares”) from Mr. Kok. The consideration for the purchase of the Subject Shares that this statement relates to is from the working capital of AlphaBit.
Item 4. Purpose of Transaction
All of the Subject Shares were acquired for investment purposes. The Reporting Persons intend to review on a continuing basis, the investment in the Issuer. Based on such review, the Reporting Persons may acquire, or cause to be disposed of, securities of the Issuer at any time or formulate other purposes, plans or proposals regarding the Issuer or any of its securities, to the extent deemed advisable in light of general investment and trading policies of the Reporting Persons, the Issuer’s business, financial condition and operating results, general market and industry conditions or other factors. The Reporting Persons may also engage in discussions with the Issuer and Issuer’s management and board of directors, other stockholders of the Issuer and other interested parties that may relate to the governance and board composition, management, business, operations, strategic plans, and the future of the Issuer.
Except as otherwise described in this Schedule 13D, the Reporting Persons currently have no plans or proposals that relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) any change in the present Board of Directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board except as may be required for the Issuer to comply with exchange listing requirements with respect to the number of independent directors; (e) any material change in the present capitalization or dividend policy of the Issuer; (f) any other material change in the Issuer’s business or corporate structure; (g) any changes in the Issuer’s charter or by-laws or other actions which may impede the acquisition or control of the Issuer by any person; (h) causing a class of securities of the Issuer to be delisted from a national securities exchange or cease to be authorized to be quoted in an interdealer quotation system of a registered national securities association; (i) causing a class of equity securities of the Issuer to become eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934; or (j) any action similar to those enumerated above.
https://www.sec.gov/Archives/edgar/data/1481443/000168316821003194/schedule13d.htm
I agree however according to the lawsuit SAGA illegally gave shares to ENZC and ENZC leadership.
Although no vote occurred ENZC cannot vote shares intended for their shareholders.
On a date not known, but sometime prior to October 11, 2023, Sagaliam issued
36,000,000 Class A shares to Enzolytics. If the transfer is not cancelled, Enzolytics therefore
possesses 88 percent of the beneficial ownership of shares in Sagaliam, giving Enzolytics supermajority control over any shareholder vote.
On a date not known, but sometime prior to October 11, 2023, Sagaliam also
issued 2.5 million Class A shares the Zhabilov Trust, Charles Cotropia, Dr. Gaurav Chandra and
Dr. Joseph Cotropia. If the transfer is not cancelled, those parties therefore hold a total of 6.17
percent of the total shares of Sagaliam. Upon information and belief, Zhabilov Trust, Charles
Cotropia, Joseph Cotropia and Guarav Chandra are all shareholders and insiders of Enzolytics.
Did anyone get proxy materials? Hell no
These Aholes included us in their scheme and didn't send no proxies.
I suspect the SEC make take some action as a lot of their rules were broken and the SEC don't like FALSE and MISLEADING STATEMENTS and SAGA is probably already on SEC's Enforcement Division radar with their late or lack of mandatory reporting.
This was some CROOKED shit and some heads should roll.
What constitutes an SEC violation?
Manipulation of investment prices. Making false or misleading statements about a company, including in SEC filings. Offering fraudulent or unregulated securities. Anything else that could be considered fraudulent conduct.
What happens if you violate SEC rules?
In addition, the SEC can seek civil monetary penalties, or the return of illegal profits (called disgorgement). The court may also bar or suspend an individual from serving as a corporate officer or director.
I did a search for SEC suing for not sending out proxies and could not find any however I did come across a SEC suit against a SPAC and its' target:
https://www.willkie.com/-/media/files/publications/2021/07/secbringsspacenforcementactionagainstspac.pdf
SAGA made some illegal moves.
ENZC went along with SAGA at the expense of it's shareholders and possibly put the company at risk.
There is no excuse for trying to do a run around a clearly set of rules, regulations and laws that are in place to protect interests of all parties involved.
I get pump and dumps.
I get toxic financing.
This is on another level I have never seen before.
Not sending proxy material to shareholders including us ENZC shareholders.
On a date not known, but sometime prior to October 11, 2023, Sagaliam issued
36,000,000 Class A shares to Enzolytics. If the transfer is not cancelled, Enzolytics therefore
possesses 88 percent of the beneficial ownership of shares in Sagaliam, giving Enzolytics supermajority control over any shareholder vote.
On a date not known, but sometime prior to October 11, 2023, Sagaliam also
issued 2.5 million Class A shares the Zhabilov Trust, Charles Cotropia, Dr. Gaurav Chandra and
Dr. Joseph Cotropia. If the transfer is not cancelled, those parties therefore hold a total of 6.17
percent of the total shares of Sagaliam. Upon information and belief, Zhabilov Trust, Charles
Cotropia, Joseph Cotropia and Guarav Chandra are all shareholders and insiders of Enzolytics.
Did anyone get proxy materials? Hell no
These Aholes included us in their scheme and didn't send no proxies.
I suspect the SEC make take some action as a lot of their rules were broken and the SEC don't like FALSE and MISLEADING STATEMENTS and SAGA is probably already on SEC's Enforcement Division radar with their late or lack of mandatory reporting.
This was some CROOKED shit and some heads should roll.
What constitutes an SEC violation?
Manipulation of investment prices. Making false or misleading statements about a company, including in SEC filings. Offering fraudulent or unregulated securities. Anything else that could be considered fraudulent conduct.
What happens if you violate SEC rules?
In addition, the SEC can seek civil monetary penalties, or the return of illegal profits (called disgorgement). The court may also bar or suspend an individual from serving as a corporate officer or director.
I did a search for SEC suing for not sending out proxies and could not find any however I did come across a SEC suit against a SPAC and its' target:
https://www.willkie.com/-/media/files/publications/2021/07/secbringsspacenforcementactionagainstspac.pdf
Phoenix Group PLC Announces Commencement of Offer Period for Upcoming IPO
Wed, November 15, 2023 at 7:22 PM EST
ABU DHABI, UAE, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Phoenix Group PLC, UAE's homegrown crypto powerhouse is set to list on the Abu Dhabi Securities Exchange. Co-founded by visionary blockchain and cryptocurrency veterans, Bijan Alizadehfard and Munaf Ali are excited to announce the region's first privately owned crypto and blockchain conglomerate listing in Abu Dhabi.
A leading innovator in the blockchain and cryptocurrency space, is pleased to announce the start of its offer period beginning November 16, 2023. This milestone marks the availability of 907,323,529 shares at an offer price of AED 1.50 per share, opening up a window of opportunity for investors to be a part of Phoenix Group's growth journey.
The offer period, extending until November 18, 2023, will enable investors to partake in a 17.64% stake of the company's share capital, which prior to the offering stands at 5,141,500,000 shares. This offering is a testament to Phoenix Group's commitment to innovation and its strategic position in the burgeoning Middle Eastern crypto economy.
Phoenix Group ensures a streamlined process for all potential subscribers with the Lead Receiving Bank, First Abu Dhabi Bank PJSC, and the Lead Manager, International Securities LLC, orchestrating the offering. The company has made provisions for both retail and professional investors, with a focus on inclusivity and transparency.
This offering comes at a time when Phoenix Group is expanding its influence and is poised for significant growth. The company's robust adaptability and progressive strategies have established it as an outstanding investment choice for those seeking to capitalize on this promising venture.
Investors are invited to apply for shares within the offer period and be a part of Phoenix Group's exciting future. For detailed information on the subscription process and to view the prospectus, please visit the Phoenix Group website or contact the Lead Receiving Bank.
About Phoenix Group PLC
Phoenix Group PLC is at the forefront of the blockchain and cryptocurrency sectors, offering innovative solutions and expansive growth potential within the Middle East and beyond.
1. The first QUESTION is how much of the remaining 82.36% will be incorporated into TCRI?
2. The second QUESTION is when will it happen?
3. The third QUESTION is what will be incorporated into TCRI?
Using the share price of the IPO one share of the Phoenix Group is 41 cents.
Thoughts?
UAE's Phoenix Group plans to launch IPO on Abu Dhabi Securities Exchange
It will be the first privately owned crypto and blockchain entity to be listed on a Middle East stock market
Phoenix Group, the Abu Dhabi-based blockchain and crypto solutions company, on Friday said it would go public as it aims to expand and boost its offerings.
Founded in 2017, Phoenix aims to float its initial public offering on the Abu Dhabi Securities Exchange. It has not specified the timeline or size of the IPO.
Phoenix said it would be the first privately owned crypto and blockchain entity to be listed on a Middle East stock market.
“The impending IPO will not only be a testament to our past achievements but a clear signal of our ambitions,” Phoenix’s co-founders Bijan Alizadeh and Munaf Ali said.
UAE’s Phoenix Group links up with Green Data City to start $300m crypto farm in Oman
“Our aim is to be able to help create a more resilient, inclusive and diversified global blockchain economy, and this IPO is just the first step towards achieving that goal.”
Phoenix offers a range of services, such as cloud mining, data centre hosting, crypto trading, and Web3 game publishing and distribution.
With a total installed capacity of 725MW, it develops, operates and manages crypto mining data centres across the UAE, Oman, US, Canada and Commonwealth of Independent States countries.
It is also the exclusive distributor of mining equipment MicroBT.
https://www.thenationalnews.com/business/markets/2023/10/13/uaes-phoenix-group-plans-to-launch-ipo-on-abu-dhabi-securities-exchange/
Is the Phoenix Group IPO a precursor for a future entry into the US stock market via TCRI?
They were going to enter the US stock market a few years back:
Reposting of Munaf Ali's comments about TCRI......
Munaf Ali's speech at the World Digital Mining Summit in Dubai was worth listening to because it provided his first comments about TCRI and also gave some interesting information about Phoenix's background, current status and future plans. The growth trajectory that Phoenix is on is extremely impressive. For example: Phoenix's mining farms in the United States are expected to come online in December 2021. Phoenix VC (the venture capital fund) currently has $500M of assets under management. Today Phoenix announced it has placed an order and paid for $650M of crypto mining equipment for its new UAE mining facility, and will place orders for $2B during Q3 2022 (see press release below).......
https://www.yahoo.com/now/u-e-based-phoenix-technology-074324202.html
Munaf Ali's speech starts around the 2:51:30 mark and ends around the 3:04:30 mark of the livestream replay. Munaf's comments about the TCRI shell can be heard starting at the 3:01:05 mark. I have transcribed what he said below.......
https://www.google.com/search?sca_esv=582779246&rlz=1C1QIHZ_enUS973US973&q=the+world+digital+mining+summit+2021&tbm=vid&source=lnms&sa=X&ved=2ahUKEwjKuZDmh8eCAxUvj4kEHff0CVMQ0pQJegQICRAB&biw=1366&bih=611&dpr=1#fpstate=ive&vld=cid:577c94fa,vid:43_o2S-1K-k,st:0
Quote:
Phoenix has recently acquired a US-listed entity for the purpose of listing some of the Phoenix Group's income generating assets on the US stock market. We expect to be able to share more information with you in early 2022.
Source from Mark954 post:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166935265
Phoenix Group IPO
Phoenix Group IPO: A Detailed Analysis
Introduction
Phoenix Group is a data center and crypto mining company headquartered in Abu Dhabi, United Arab Emirates. The company is set to launch its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) on November 16, 2023. The IPO is expected to raise Dh1.36 billion ($370 million), making it one of the largest IPOs in the UAE in recent years.
Phoenix Group is a relatively new company, having been founded in 2021. However, the company has grown rapidly and is now one of the leading players in the UAE’s crypto and data center industries. Phoenix Group operates the UAE’s first fully-regulated digital asset exchange, and it also manages the Citadel Project, which is the largest crypto-mining facility in Abu Dhabi.
The Phoenix Group IPO is a significant event for the UAE’s crypto and data center industries. It is the first time that a UAE-based crypto company has gone public, and it is a signal of the UAE’s growing role in the global crypto industry.
Business Model
Phoenix Group’s business model is based on two main pillars: data centers and crypto mining.
Data Centers
Phoenix Group operates a network of data centers in the UAE. The company’s data centers are highly secure and reliable, and they offer a range of services, including colocation, hosting, and cloud computing. Phoenix Group’s data centers are used by a variety of customers, including government agencies, businesses, and individuals.
Crypto Mining
Phoenix Group also operates a large-scale crypto mining facility in Abu Dhabi. The company’s crypto mining facility uses state-of-the-art equipment to mine Bitcoin and other cryptocurrencies. Phoenix Group sells the mined cryptocurrencies to generate revenue.
Investment Highlights
There are several investment highlights associated with the Phoenix Group IPO:
Exposure to the crypto and blockchain sector: The Phoenix Group IPO is the first opportunity for UAE investors to gain exposure to the growing crypto and blockchain sector through a professionally managed and licensed entity.
Strong track record: Phoenix Group is a relatively new company, but it has grown rapidly and now has a strong track record of success. The company is profitable and has a growing customer base.
Experienced management team: Phoenix Group’s management team is composed of experienced professionals with a deep understanding of the crypto and data center industries.
Support for the UAE’s crypto industry: The Phoenix Group IPO is a signal of the UAE’s growing role in the global crypto industry. The IPO is expected to attract significant interest from both domestic and international investors.
Key Points
IPO launch date: November 16, 2023
Exchange: Abu Dhabi Securities Exchange (ADX)
Offer price: Dh1.5 per share
Subscription period: November 16-17, 2023
Minimum investment for retail investors: Dh5,000
Shares offered: 17.64%
Expected proceeds: Dh1.36 billion ($370 million)
Business: Data center and crypto mining
Risks
Investors should be aware of the following risks before investing in the Phoenix Group IPO:
Volatility of the crypto market: The crypto market is highly volatile and prices can fluctuate wildly. This could have a negative impact on Phoenix Group’s revenue and profitability.
Regulatory uncertainty: The regulatory landscape for the crypto industry is still developing and may change in the future. This could have a negative impact on Phoenix Group’s business.
Competition: The crypto and data center industries are highly competitive. Phoenix Group faces competition from a number of well-established players.
Execution risk: Phoenix Group is a relatively new company and it is expanding rapidly. This could lead to execution risk.
Overall Assessment
The Phoenix Group IPO is a unique opportunity for UAE investors to gain exposure to the growing crypto and blockchain sector. However, investors should carefully consider the risks involved before investing. Before investing in any market or stock gain the knowledge, learn how to buy and sell stocks. You may join my mentorship program before investing in Abu Dhabi Securities Exchange.
Market Outlook
The crypto and data center industries are both expected to grow significantly in the coming years. According to a report by MarketsandMarkets, the global crypto market is expected to grow from $1.5 trillion in 2023 to $6.7 trillion by 2027. The global data center market is also expected to grow significantly, from $185.3 billion in 2023 to $318.7 billion by 2027.
The growth of the crypto and data center industries is being driven by a number of factors, including the increasing adoption of digital currencies, the growth of big data and analytics, and the increasing demand for cloud computing services.
To watch a complete video on Phoenix IPO on my channel click here.
Conclusion
The Phoenix Group IPO is a significant event for the UAE’s crypto and data center industries. It is the first time that a UAE-based crypto company has gone public, and it is a signal of the UAE’s growing role in the global crypto industry.
Phoenix Group is a well-managed company with a strong track record of success. The company is well-positioned to benefit from the growth of the crypto and data center industries. However, investors should carefully consider the risks involved before investing in the Phoenix Group IPO.
https://www.stalkstock.ae/phoenix-group-ipo/
The Abu Dhabi Securities Exchange (ADX) is preparing for a series of initial public offerings (IPOs), including a Dh1.36 billion ($370 million) stock float by Phoenix Group, slated to begin on November 16. Phoenix Group, a data center and crypto mining company, has set the offer price at Dh1.5 per share, allowing UAE investors an entry into the crypto services sector.
Recently, International Holding Company (IHC) of UAE purchased a 10% stake in Phoenix Group. The company manages the 'Citadel Project', which is the largest crypto-mining facility in Abu Dhabi.
The final quarter of 2023 has seen an uptick in IPO activity in the UAE stock markets. Prior to Phoenix's listing on the ADX, the subscription period for Investcorp Capital concluded. Global Capital Partners highlighted Phoenix's IPO as an opportunity for investors to gain exposure to the regulated crypto and blockchain sector, with a specific focus on attracting institutional investors with extensive knowledge of the crypto industry.
Retail investors are required to invest a minimum of Dh5,000 to participate in the IPO, which allocates 6.67% (or 60.48 million shares) to them. Analysts view Phoenix as offering local investors their first experience with growth opportunities centered around cryptocurrency.
This year, Phoenix expanded its international presence by establishing a 150MW facility in Oman through Green Data City. The company also has agreements with Bitmain and MicroBT, which have contributed to its strong sales performance despite the downturn in crypto markets. Last year, Phoenix invested in a 250MW data mining facility in Abu Dhabi, which helped drive its revenue up to $715 million from $161 million in trading operations in 2021. The company currently operates facilities with a combined capacity of 100MW in the U.S. and Canada.
https://www.investing.com/news/stock-market-news/phoenix-groups-ipo-to-offer-1764-stake-in-abu-dhabis-adx-93CH-3230015
12:34 AM·Nov 15, 2023
Binance News
This article has been republished with permission from Binance News.
According to Foresight News, Phoenix Group, an Abu Dhabi-based blockchain and crypto solutions provider, is set to launch its initial public offering (IPO) on the Abu Dhabi Securities Exchange on November 16. The company has set the offer price at 1.5 dirhams per share, totaling 1.36 billion dirhams ($370 million) in stocks. In addition, the International Holding Company (IHC) of the United Arab Emirates recently acquired a 10% stake in Phoenix Group.
https://www.binance.com/en/feed/post/2023-11-15-phoenix-group-set-for-ipo-on-abu-dhabi-securities-exchange-1770421
No the post says 48.94 Million.
Where are you getting 4-5 million from?
What the F___
Does stock float change?
The amount of floating stock a company has typically changes over time, as companies might sell more stock to raise money, or company stakeholders might sell their holdings. If a stock goes through a stock split or reverse split, this will also increase or decrease floating shares.
What exactly is a company's float?
The term float refers to the regular shares a company has issued to the public that are available for investors to trade. This figure is derived by taking a company's outstanding shares and subtracting any restricted stock, which is stock that is under some sort of sales restriction.
What Does Float Mean in Stocks?
What does float mean in stocks? The float of a stock is the number of shares that are actually available to trade. In other words, these are shares the company makes public or shares available for trading on the open market. This is calculated by subtracting the number of shares owned by insiders, employees, and major long-term shareholders from the total shares outstanding.
What Exactly Is a Company's Float?
The term float refers to the regular shares a company has issued to the public that are available for investors to trade. This figure is derived by taking a company's outstanding shares and subtracting any restricted stock, which is stock that is under some sort of sales restriction. Restricted stock can include stock held by insiders but cannot be traded because they are in a lock-up period following an initial public offering (IPO)
A company's float is an important number for investors because it indicates how many shares are actually available to be bought and sold by the general investing public. The company is not responsible for how shares within the float are traded by the public; this is a function of the secondary market. Only changes that affect the number of shares available for trade change the float, not secondary market transactions, nor the creation or trading of stock options.
Outstanding Shares vs Float: What's the Difference?
Outstanding shares refer to the number of shares of a company's stock that are currently owned by all shareholders, including insiders such as the company's officers and directors. Float, on the other hand, is the number of shares that are available for trading by the public.
It is quite probable that SAGA responded to the SEC by September 25, 2023 and just didn't release a PR about it.
If they didn't I can assure you at some point the SEC would address the situation.
Investor Bulletin: Delinquent Filings
Investor Bulletin: Delinquent FilingsThe Securities and Exchange Commisson's (SEC) Office of Investor Education and Advocacy is issuing this Investor Bulletin to provide investors with information on the SEC's Delinquent Filings Program.
The Securities Exchange Act of 1934 (Exchange Act) gives the SEC the authority to suspend trading in and/or revoke the registration of companies that fail to submit disclosure documents (periodic reports), submit deficient periodic reports, or fail to submit periodic reports in a timely manner.
Under the Exchange Act, certain companies with publicly traded securities (reporting companies) are required to provide investors on a regular basis with periodic reports that contain important financial and business information. Examples of these reports include the annually filed Form 10-K or Form 20-F, and the quarterly filed Form 10-Q. Periodic reports help investors to make informed investment decisions about the purchase or sale of a reporting company's securities.
Most reporting companies submit their periodic reports in a timely manner. However, some reporting companies fail to submit periodic reports, file materially deficient periodic reports, or do not submit the reports in a timely manner. The timely and complete submission of periodic reports provides investors with information to help them make informed investment decisions. The SEC's Divisions of Enforcement and Corporation Finance jointly established the Delinquent Filings Program in 2004 to encourage reporting companies that are delinquent in filing their periodic reports to submit their periodic reports or rectify deficient periodic reports. The SEC's Delinquent Filings Group in its Division of Enforcement conducts investigations into possible violations of the federal securities laws' periodic reporting obligations, and prosecutes administrative proceedings against these companies when appropriate. The Division of Corporation Finance identifies reporting companies that are delinquent filers and usually provides them with notice of their failure to submit periodic reports. If a reporting company identified as a delinquent filer fails to submit its periodic reports, the SEC may revoke the registration of the reporting company.
Section 12(k) of the Exchange Act gives the SEC the authority to suspend trading in a security for up to 10 trading days if the SEC believes that a suspension is required to protect investors and the public interest. A trading suspension by the SEC halts the trading in a security on all trading platforms (e.g., national securities exchanges, over-the-counter market, or alternative trading systems). In addition, Section 12(j) gives the SEC the authority to revoke, or suspend for up to twelve months, an issuer's securities registration if, after an administrative hearing, the SEC finds that an issuer violated the Exchange Act by failing to file its periodic reports.
Investors may also find a list of companies whose stock is currently subject to an SEC trading suspension, or which previously has been subject to an SEC trading suspension, on the SEC's website at http://www.sec.gov/litigation/suspensions.shtml. For additional information on trading suspensions, please read the SEC's investor bulletin "Trading Suspensions" at http://www.sec.gov/investor/alerts/tradingsuspensions.pdf.
Finally, some companies with publicly traded securities in the over-the-counter securities market may not be required to provide periodic reports. For additional information on these companies, please see the SEC's "Information About Some Companies Not Available From the SEC."
I am not defending SAGA however they had no choice other than to file for an extension.
They may be close to getting the deal done.
The key right now is getting the S-4 on the street as it is the most difficult and time consuming portion of the De-SPAC process.
The biggest concern with the S-4 is the SEC request for comment and how long that process will take to get it approved.
Once the S-4 is approved it should be smooth sailing.
Again the key is the S-4 and if we don't see it in the very near future (2-3 weeks hopefully sooner) then in my opinion there is something seriously wrong somewhere.
If the SEC had request for comments, the exchange of information could go back and forth for two or three months before the S-4 is approved.
S-4 is the key and needs to be on the street sooner than later.
SPACs have a limited time to find a company to acquire and complete the acquisition. Depending on the SPAC, this typically ranges from 12-24 months.
Some SPACs have built in extensions, where they can invest additional capital monthly or quarterly into the trust to extend their duration. If a SPAC does not have built in extensions or must extend past their extensions, they can request that their shareholders approve their extension.
https://clearthink.capital/blog/the-basics-of-spac-extension-financing/#:~:text=Some%20SPACs%20have%20built%20in,their%20shareholders%20approve%20their%20extension.
That is impossible for me to provide an answer.
I could only provide a guess which would be meaningless.
November 23. 2023 is the date the deal must be completed based on current SAGA filings.
Item 5.07 Submission of Matters to a Vote of Security Holders.
On December 22, 2022, the Company convened its special meeting of stockholders (the “Special Meeting”) virtually, solely with respect to the voting on the proposal to amend the Charter pursuant to a first amendment to the Charter to provide the Company with the option to extend the date by which the Company must complete its initial business combination (“Business Combination”) from December 23, 2022 by up to ten successive one month periods up to October 23, 2023 (the “Extended Deadline Dates”) by depositing additional funds into the trust account at each extension election (the “Extension Amendment Proposal”). The Extended Deadline Dates shall collectively be referred to as the “Extended Date.” A total of 12,891,984 shares of the Company’s Class A common stock and Class B common stock, or 86.58% of the Company’s outstanding stock as of November 23, 2022, the record date for the Special Meeting, were represented virtually or by proxy at the Special Meeting.
The following is a brief description of the final voting results for each of the proposals submitted to a vote of the stockholders at the Special Meeting on December 22, 2022.
Extension Amendment Proposal
To consider and vote upon the Extension Amendment Proposal to amend for the first time the Company’s Charter to provide the Company with the option to extend the date by which the Company has to consummate a Business Combination from December 23, 2022 by up to ten successive one month periods up to October 23, 2023.
The Extension Amendment Proposal was approved. The voting results of the shares of the Common Stock were as follows:
For Against Abstentions
12,500,891 391,093 0
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