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I did a little reading online. Seems the company restructured/refocused in Q1. I read current/previous employee comments online that varied greatly. But overall sentiment was lack of structure...could be part of this effort to refocus. Come on guys, bring some shareholder value here!
"Additionally, we recognize the importance of establishing repeat business with strategic customers. To further these efforts, we have deepened our relationship with a key government agency that is now utilizing eight dedicated aircraft with our fleet, and chartering over 1,000 ACMI block hours per month."
https://finance.yahoo.com/news/global-crossing-airlines-group-inc-124519773.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAASXS1yBoV4a9aI8C1W1deMwgxxTduIoRp3P7SEx-L09ynZEHJuz5jZjp2qPpDAyzXmp9AtM7oYIJpjit6q5vk13OFEurKs6JkGAUh84UOcJk_lLxKwaRle8DpC-CjQyOjZMdiI5M-dlAMdWnCvjzFeBZciyX0mLp7GG5Eq3vhAg
Good buying opportunity here
I wonder how many of those warrants from the recent financing are being purchased at $1/share?
Give me some 0001s....lol. flipped this one many times over the years.
Looks like the market didn't care for the mention of convertible debts here. Time to buy?
Receiver filed in mid February...but nothing related to ITKH. I believe the iTeknik loan is part of the loan portfolio that is still in the process of being sold. Maybe sometime this year...lol
https://tcafundreceivership.com/docs/US_DIS_Eleventh_Quarterly_Status.pdf
Nice move JETMF. More planes equals more revenue hopefully means more profit.
Their profits will be tied to how many aircraft they can lease/operate. They don't own any as of now, as far as I know. Their revs/profits are directly tied to how many aircraft/hours they operate. Will really depend on how fast they can get the cargo operations running. So yeah, not sure about the $4 mark...let's see $2 first
Got it... thought you meant from other source. Thanks.
What? please provide a link. I'm not seeing anything.
Just received email from receiver. New quarterly filing posted does not mention Iteknik at all...same as before. They are still negotiating best offer for the loan portfolio. Merry Christmas and happy new year!
I have read every filing the receiver filed. The last I remember them saying anything about ITKH was that the loan was being sold as part of the loan portfolio. That means the original loan ITKH received from TCA Global is still being considered collectable. Whoever ends up with the loan is going to figure out there is nobody to collect from. In fact the Wyoming SOS company filings from years ago showed Wicks turned this company and ticker over to TCA Global. I am no securities lawyer. But I have one idea of what might occur. The loan is sold as part of the bigger loan portfolio to some entity. That entity tries to collect on the loan, but they find out there is no one to collect from. Eventually they write off the bad debt and the ticker stays dark or at some point it is resurrected from the grave and that entity or another entity uses it. Again, just one guess as to what might happen. We have no choice but to wait and hope there is some action again one day for ITKH.
Is there anyone else left here besides me???
Ryan said yesterday they will continue to grow the company by adding more passenger and cargo planes via ACMI wet lease. The more they can add the higher the profits will be. They didn't seem too confident in adding aircraft to their assets at this time...will be trading OTCQB for awhile. It will be interesting to see what the cargo side of the company can do to the profit margin. I'm a long-term investor...been here long before it was this company...back when it was jetlines. Hoping for the best. Just not sure we can see $2/share...as soon as the stock recovers they will likely do another round of financing. Been through one RS already and don't want another so hopefully they can build the company and the share price will follow. Just hope they don't dilute too much...I know wishful thinking from the OTC. But give them some credit for what they have done so far. Profitable is always a good sign they hope for the future.
Well done team. Would love to see this trading back above $2.00/share.
Here's a reply from the investment group....I'm actually surprised they even responded to my email...lol
"I am afraid it seems that the equity is worthless."
Lol ..got an email from some investment group looking to buy peoples interests that will receive a distribution from the receiver. I told them I had millions of shares in Iteknik I would sell them....haven't heard anything...lol. Boy this is stuck in the mud for years. Hoping maybe one day this will get sold. Looking forward to see who buys the loan portfolio...would love to see their faces when they see there's no one to collect from on this loan. The CEO signed the ticket and what was left of assets over to TCA. Not sure how the receiver didn't figure that out. Of course they had bigger fish to fry.
Who knows? All I know is they are selling the ITKH loan as part of the portfolio. I have no idea what is going to happen here. I figure I will eventually count this one as a loss some day. But I have lots of patience. So maybe sometime in the future this ticker will rise out of the ashes. At some point whoever buys the portfolio will look to collect on the loan and figure out what their options are. Need a securities lawyer to figure it out IMO. And that is not me
Who knows? Not sure the receiver realized this ticker was turned over to TCA. All we know is the original loan from TCA to ITKH is being sold as part of the loan portfolio. If I remember correctly the Wyoming SOS document filed by the previous CEO Wicks showed he turned the company over to TCA because he couldn't pay. There was a long drawn out court battle between Wicks and TCA....TCA won. So how does anyone collect on the loan when there is nothing left to collect on? TCA owns the loan and ITKH now..... is how I saw things happen here. Again who knows? I hold some worthless shares hoping one day this is sold and new opportunities arise!
Perhaps the company should do a buyback of shares to raise the stock price. This is pathetic JETMF....down 50% since April 1st! And Ed Wegel gets all the credit!
Totally agree.
Yeah .45...lol. Not even close my friend. Keep dreaming
Most end up using convertible debts resulting in reverse splits....despite revenues. But yeah there are a few in OTC. SEC pretty much shut down the penny market last year. Most of us have found other avenues to invest our profits of yester year ??
Which is how the OTC works.....no surprise. I enjoyed the runs here...maybe get another one over .10? Would be a nice surprise!
They built this company selling shares. The winners are the investors who bought private placement shares.
When is Ed and company going to do something to improve the stock price?
You know...besides the dreaded RS. Many of us holding from years ago already got split on this one. Decided to let it ride, wish I had sold for a slight loss at over $2.00 when I had the chance. Now that seems impossible especially given the registration of the shares. Just disappointing to see Ed let the stock price slide so far with really no intervention on his part...nearly a dollar now. And no news in weeks!
Read all the filings...the very small fine print tells you the real value...that is for real folks. The font is like 10x smaller...look for it and read it and determine for yourself if you think .45 is the actual value
Did you read the 8k? Maybe pump is on?
Got an email from the receiver. New filing doesn't address anything related to ITKH. But it did say the bids are due in February for the loan portfolio. So maybe in 3 months we will see who purchased the portfolio if not sooner. Anything is still possible in the future.
Amended S-1 filed 10 days ago.
https://sec.report/Document/0001193125-22-011375/#rom140617_12
Investors are not holding here. Of course all of the details delivered from management sound encouraging. S-1 Filed awhile back, stock sliding...will prob be below a dollar/share soon. How can they up list to NASDAQ with the share price this low?
I see no activity...no bid or ask on etrade..although it is on the expert market...LOL. Show me the activity you speak of. thanks.
Filings show the salary/debt conversions will take place in the 4th Q...which is now and ends 2/28 for DBRM. So it's possible they released the most recent filings and immediately released the shares...therefore someone sold. IDK...just a possibility.
The idea that they converted the shares at .45/share is just based on accounting. Over 2 million dollars in salary/debt was "forgiven".
(6) Adjustment of $2,299,104 consists of $105,528 fair value of the 4,082,448 shares to be issued for related party debt conversion, based on $0.0268 share closing price on November 30, 2021 net of the $4,082 par value; $2,193,776 forgiveness of liabilities to related parties for the difference of the fair value of the shares converted and the related party debt amount forgiven or converted.
NOTE 14 — SUBSEQUENT EVENTS:
On December 15, 2021, Daybreak finalized agreements with its directors, executive officers, and other employees with respect to the forgiveness and conversion of related party debts into shares of the Company’s common stock at a conversion rate of $0.45 per share of common stock.
The tables below detail the changes to certain Balance Sheet accounts either through debt forgiveness or conversion to the Company’s common stock. Since the common stock shares will be issued in the Company’s fourth quarter, this information is being presented as a subsequent event in a pro forma format.
An aggregate of 4,082,448 shares of common stock valued at $0.45 per share will be issued to satisfy certain related party debt as detailed in the table below:
Common Stock Activity
Share issuances for accrued salaries to employees 1,397,881
Share issuances for accrued director fees 317,708
Share issuances for related party 12% Subordinated Note and interest 1,144,415
Share issuances for related party production revenue payable program 1,222,444
Common stock increase 4,082,448
Makes sense to me that the volume was some of the converted shares from late last year. You just posted a link to the filing showing the offerings of debt and salary conversions. Doubt it was JW.
Wouldn't that be nice...LOL. I highly doubt we get any proceeds from the sale of any assets left from Big Rhino. The receiver reported that the loan will be sold as part of the overall portfolio of loans. So I don't see this going anywhere anytime soon. Whoever buys the loan portfolio will have to sift through what's left of ITKH. Eventually someone will realize there is nothing left but the shell. Maybe the debt/loan is converted to commons at some point? I originally thought that the receiver would be dealing with the debt but it doesn't appear they are doing anything but just selling the loan to someone else. A long process that doesn't resolve anything for ITKH shareholders. So no one really knows much of what is going to happen here. I just don't expect them to hand over anything to shareholders. If anything the debt gets converted at some point then a RS. The one thing I am not sure of is ITKH was signed over to TCA Fund by the old CEO wicks...at least that's the filings I saw a long time ago. Therefore I believe ITKH is held by TCA fund, or now the receiver. I haven't ready anything in their reports that address this. Just talks about the loan...so who knows? Maybe we get lucky and whoever buys the portfolio will sell the shell/ITKH to pay for the loan and forgive the difference....LOL :)
Just looking at that news from October....one would expect to see DBRM do the capital raise of 2.5 million dollars via private placement soon. That news might send it again. Then of course if they follow through on their plan we should see the reabold leases acted upon and see some oil production. Lot's of potential fun in the future...but for now I will wait for it to bottom out again. I don't think the quoted value of reabold is accurate...considering the details of the acquistion...just my opinion
SHMN looks like it bottomed finally. Nice entry point around 002 for a penny run next year. GLTA and merry Christmas!
cheers JW...and Merry Christmas! DBRM has been good to me several times now :)
Merry christmas from DBRM
DBRM up she goes again