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Ok, I see.
Sorry, I thought there was a typo in your initial post.
The ticker symbol changed from IHSN to IHAI back in 2011.
After that, there was a 1:80 reverse split in 2012.
It's usually automatic in the broker's account and it should have happened in 2011 and 2012.
Maybe it's just the name in your account that's not right.
You'll have to ask your broker to know more about it.
Weird trading in this stock.
It looks like someone wanted to have it around $0.70 before any news.
Some information I hadn't noticed before:
Indeed, surprising at this level and without news!
Buy volume: 24,820
Sell volume: 959
Unknown: 969
(from Tools > Data Tools > Trades)
Here: https://www.otcmarkets.com/stock/IHAI/news
and maybe it will show up above this message board too.
There is more information here: 15c2-11 Resource Center
So it seems IHAI should "remain eligible for public broker-dealer quotes" and not move to the Expert Market where it's not the case.
The last Annual Report and Officer/Director Disclosure can be seen here: https://www.otcmarkets.com/stock/IHAI/disclosure
The issue is that they should have been submitted by mid-August instead of August 30 and September 14.
I don't know how it works in this case.
It's really annoying that it's still there.
If I understand it right, the needed paperwork has been received but I have no idea when the sign will be removed by the OTC Markets website.
Correction here, because I check those things in the filings: it's not a shell as defined by Securities Act Rule 405 and Exchange Act Rule 12b-2.
It only has the "Shell Risk" warning from the OTC Markets website which is different from the official shell status.
It seems kind of amateurish for the moment.
They submitted the Officer/Director Disclosure three times to correct errors. :-p
Yes, me too, and I hope they'll pay more attention to that in the future because it will have serious adverse consequences from Sept. 28.
This one: https://www.healthmedinc.com/
HealthMed, Inc. doesn't show up in the filings.
Tracy L Webster from Alabaster, AL. is mentioned as shareholder in the last Officer/Director Disclosure and I made the connection with HealthMed, Inc. with what I found on LinkedIn: Tracy Webster on LinkedIn
There are some other shareholders as well but I didn't find anything interesting about them yet.
If I'm not mistaken about it, the CEO is a new shareholder and/or one that recently went above the 5% threshold.
I don't remember seeing HealthMed Inc. in the filings before.
HealthMed Inc.'s CEO is involved.
He holds 1M shares of common stock.
There must be a reason.
It's annoying AF.
They had 75 days from May 31 to file.
That's plenty of time, but they still did it too late.
Hopefully it'll be current again before September 28.
Yes, it's been long and nerve-racking for sure!
I spotted the Healthmed connection in the filings but I hope it has more to do with cannabis than "customizable corporate wellness programs".
Maybe technical analysis doesn't apply so well to penny stocks because liquidity is choppy but from a TA perspective, after going straight up for that long, we have to correct downward.
It's always like that in the markets with more liquidity and I'm not so surprised to see it here.
It *might* be a healthy correction.
We'll see...
Some more digging into the last filings, for what it's worth...
Tracy L Webster owns 1,000,000 restricted common shares.
He's the CEO and founder of HealthMed, Inc.
https://www.healthmedinc.com/
It looks like a pump and dump scheme with this high volume today.
Not (yet) the case here.
New annual report excerpt:
Are we going to see anything new before September 28?
Maybe not if IHAI is waiting to have more potential traders getting in...
Ok
I wasn't speaking about IHAI of course because the share structure is good.
There is a controlling preferred share by the way, yes, just one, and Chris Winter owns it. lol
Well, I guess there are more than I thought.
But they still need to be heatlthy enough and for the Nasdaq Capital Market Investopedia mentions: "a code of conduct, an audit committee, independent directors, and so on."
https://www.investopedia.com/terms/n/nasdaq-smallcap-market.asp
(the official rules are here: https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/Nasdaq%205500%20Series)
Those with a lot of debt, no revenues and billions of shares, I would be surprised if they can pull it off.
Then, if they have to go through a reverse split, that can hurt the share price a lot or make them unattractive if they don't have real fundamentals like solid products or services.
Great week!
Looking forward to what's coming next!
I don't know what's in store in, but there are reasons to be optimistic and believe it won't suddenly drop a lot.
That said, don't fooled by penny stocks pretending they're going to uplist to the Amex, Nyse or Nasdaq.
They would have to meet some requirements that are usually impossible to reach.
In most cases, it's just a marketing strategy to pump the stock, and then dump it higher.
Hopefully it'll stay current.
Last quarter ended on May 31 and, if I'm right, results must be published within 75 days, which means a bit less than a month left.
I think some people have been accumulating since last year.
There were some strange sessions before the reinforced uptrend beginning in March. It dropped very low all of a sudden, $0.0008 of I remember right, and then went all back up and beyond.
It keeps moving without news.
Great and strange at the same time.
I've read the information about Synergy, thanks.
The rules have actually already changed with my broker and I'm now only allowed to buy OTC stocks that have at least the same status as IHAI: audited Pink Current Information. If it's anything less than that, it can only be sold by those who already have some, but not bought anymore.
I don't know anything about Synergy but there is a difference between a real merger and a strategy designed to pump and dump a stock on retail investors.
Hopefully we won't end up with a pump and dump scheme here...
The way this thing is trading is strange methinks: sizeable volume (for an unknown stock) nearly every day without any new public information and price going up over time.
Some people may know more than we do...
Ah... when you know it, Wordpress is quite easy to use.
If we were considering IHAI is somehow legit, we could say that what has been going on lately looks like an accumulation phase because the volume has been sustained for quite some time and the price hasn't moved much.
A bit more volume with some news and it should easily go up.
To be honest, I've built websites with Wordpress myself and it doesn't take much time and effort to set up something basic like this.
Choose a provider, intall Wordpress, link your domain name, choose a theme and there you are.
It seems someone took the previous domain name that wasn't renewed so Chris added "inc" at the end for the new one.
Hopefully it's just a placeholder and there will be something much better later on.
I don't know where this thing is headed but we've had some steady volume in the last weeks despite the stock not being in the spotlight and it's bullish to me.
When the deal with Carmil didn't work out a few years ago, shares were returned to IHAI afterwards.
OTC scams usually don't do that...
So I'm very curious about what's coming and definitely holding.
Yes but nothing very important that we don't know yet, I think.
Just a confirmation of the number of oustanding shares of common stock which was 17,480,429 as of February 28, 2021.
There is also 1 (one) Class A share that gives total control to Chris Winter.
It's also kind of interesting to know IHAI isn't registered as a shell.
There are some new recent rules that say a shell company can keep being quoted after a certain period of time and they won't apply.
With the last filings, we know there were 100 shareholders of record as of February 28, 2021.
Yes, you're right, I understand.
What I meant is that, by now, I'm way better at making money with other stocks on the big boards, or in the OTCQX market when they have a dual stock Canada/US like some I have that I couldn't buy in the Canadian stock market, for example.
I've made enough money with other stocks I understand, that are reliable and that are not going to dump on me like many others in my trading past in the Pink Sheets.
This is my last so-called Pink Sheet and it doesn't matter that much if I lose it all.
There were incredible scams with fake companies and even 50 Cent canceling a contract. This guy is a big scammer too.
I've had enough!
I've kept this one only until now because it's different with it's very good share structure. C. Winter cleaned the shell and did a reverse split that wasn't that bad for this type of market.
This share structure was preserved when the deal with other companies fell through.
So I guess it's not for nothing.
However, he still has to demonstrate he can do a proper R/M with a good company, which hasn't happened yet.
But I'm willing to wait and see what he can pull off his hat this time as the risk/reward seems good to me. You never know. Maybe that's when all comes together for the first time.
Well, haha... I bought my shares when I was a noob and didn't know much about all the other possibilities in the markets.
I saw the big ups in the OTC markets, was lured by them and then jumped in.
Bad idea.
As I went through the 80:1 reverse split, my shares were worth next to nothing so I just forgot about them until I saw something moving last year and then I knew there was something coming because of the unusual trading.
I'm now about even with my current PPS and I sure can wait a little more to see what C. Winter is up to this time.
But all in all, it's something I have noticed in all the markets and remind myself about regularly: