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I hope this is not a harbinger of things to come, calling ICAD a “penny stock” when it’s $2/share.
Hope the company was able raise some money thru “at the market” sale of stock. About to break thru $2 …could it retrace back below $1.50?
Bottomline, this company is another Hicks/Canouse (Trillium/JP Carey) mess. Six Reg A offerings, convertible notes, etc. Any cash generated will go to the holders of Preferred E notes in form of dividends. If no cash, then more common stock.
No wonder this stock is at .0001 .
As predicted, the stock ran up in anticipation of the 10-Q to .0029 on 8/21, then fell back again when revenues were disclosed to be less than $1000.
Back to near the .0020 support. If that doesn’t hold, lookout below to another test of the .0012 level.
At some point this company is going to need to show substantial sales. Promises of such sales is no longer going to do the trick.
What Baker has conveniently left out is he is just one of eight advisors that is part of Melody Trust who just purchased the HWAL music catalog.
The same catalog that was “appraised” at $146 million which, at most has generated only $250,000 per year since 2013 (of which royalties still need to be paid to artists). You can be certain that they likely paid far, far less than appraisal for the catalog.
www.melodytrust.com
This should be good for about half a dozen PR’s per year.
Just noticed HWAL sold the music catalog to Melody Trust which includes Marvin Baker of LIGA as one of it owners. You think they sold it for the appraised value of near $150 million? Or it actually about 1% of that amount, like $1.5 million? They will never tell you.
I see they plan to distribute shareholders a stock dividend of Preferred B shares. Good luck with ever collecting on that or at least being able to sell it.
Time for another business pivot.
Was reading the financial statement and notes (in conjunction with the LIGA announcement) and was stunned to find out in the last five years HWAL’s market cap has gone from $231 million to $6 million all while owning the same 17,500 master recordings collection.
Obvious they still haven’t figured out a way to monetize the catalog as the company only booked $63,000 of revenue. They likely had to pay at least 20% of that number out in royalty fees.
The goofy appraisal of the catalog at $146 million is just silly. The number that seems to be missing is what HWAL actually purchased the catalog for (ten years ago).
Then look at management’s forecasted revenue and income projections as of March 4,2021.
2021: Sales: $2 million, Profit $1 mil
2022: Sales: $10 mil, Profit $5 mil
2023: Sales: $20 mil, Profit $10 mil
2024: Sales: $20 mil, Profit $10 mil
Now let’s look at the actual results:
2021: Sales: $524k, loss $24 mil
2022: Sales: $266k, loss $1.2 mil
2023: Sales: $300k, loss $1.6 mil
2021 results had a $17 mil impairment charge but they still lost $6.6 mil from operations.
Both 2021 and 2022 sales included about $230k from Lobbying so the music catalog licensing sales were quite small.
2023 results are thru 6/30/23.
Exact same management who gave shareholder these projections are the ones who delivered the results.
And people are willing to believe them going forward? Say goodbye to your money and hello to further dilution. IMO , company is worth less than a penny in it’s current structure. No wonder they made a deal with LIGA, another serial projection exaggerator.
Love the analyst on the conference call who asked Harry the question:
“What is the current plan to destroy shareholder value as you did with Imperial Petroleum?”
A: Next question….
Fwiw…according to the coordinates Hurricane Hillary made landfall about 2 miles north of where the planned resort was to be built. It would have been destroyed or at least heavily damaged by winds and floods. A total flood zone.
So i think this stock will likely continue it run into the 10-Q anticipation but will likely fall back when results show another quarter of none to a couple thousand of revenue.
Take advantage while you can.
So what is being implied is that every single low and every single high has been perfectly traded and there was never any need to average down because there was no need to.
Sounds like OTC expert who tells folks to stay long and criticizes others for selling while doing the complete opposite.
All opinions are my own.
We are at that level right now where it’s make or break time for the stock.
Hold if it makes it thru .0025 or sell if it falls below .0020.
From 8/11:
My opinions are my own.
Not sure why you are panicking. Today is only the 14th, last day to file is 8/15. Or file an extension which gets them to 8/21. That will be the more likely outcome. Just like they did last quarter.
I bought a new one off eBay 5 years ago for $20 during the period the company was supposedly retailing it for
$200-300.
Unsurprising it didn’t work anywhere near what was advertised. A lot of it had to do with wifi connection issues. Especially the deeper in the parking structure you had to go. Even without wifi it never worked properly. As I recall customer service was non existent.
Probably one of a couple dozen real buyers of the product.
Ah, you were correcting as I was writing my post….good job.
I think you might be interpreting that sentence incorrectly. I think it means they are paying $748,000 total for the first year, payable in 12 monthly payments $62,333 per month.
Over 20 years with a compounded 2.75% annual rent increase the total lease obligation is $19.6 million.
No, no, and no…don’t do it imo.
Remember Sanger has known LB for years according to the PR. Perhaps he invested $$ in his companies earlier and is also in the hole big time. Something that 40 million shares and a $10,000 a month fee would get at least get him back to breakeven. As for his friends, they likely have better things to waste their money on.
Good luck. That .002 resistance is holding right. IF the price can make it thru .002 then it could run another 25%.
All his big hits were 30-40 years ago. He is probably looking to stay active somehow. No harm it that for him.
How many other “dips” did you load up on?
The show won’t even air for 6 months to a year from now….do you think this company will have revenue by then (more than 20k per Q)?
No way the CEO will do a $15 million stock buyback as claimed in the most recent financials dated 3/31. As of 8/1 it hadn’t happened and the odds are more likely he would do a direct offering instead to raise cash and dilute common shareholders….just like he did to his other company, IMPP.
Nice job….cheers for you!!
By the way, the institutional shareholders who are supposedly buying the offering are the same group who are currently shorting against the box here and profited on the drop.
As I mentioned the last time the CEO pulled this crap, why would a company that supposedly has $100 million in cash and 0 debt, need to raise another $34 million in cash?
Because the stock is just currency to him.Common shareholders mean nothing. It’s DRYS 3.0 .
Don’t believe the cash numbers or the debt numbers. There are so much intercompany transactions between the CEO has his public companies that I believe most of the money is winding up in his hands to do whatever he wants with it, to his benefit only.
Also love the stockholders here who buy right before earnings, then claim they got out “just in the nick of time” before the drop. They aren’t fooling anyone except themselves imo.
This TV/internet shows seems to be more about the CEO himself band his buddies then about the companies themselves. The only tie in is the name of the show, obviously meant to lead folks to the ticker.
What I find strange are all the quotes.
I'm really excited to be working on this project with Leslie" said Academy Award winner Jonathan Sanger to Hollywood Film Director Mars Callahan, "I've been a huge fan of Leslie's for years and now. Being able to watch him work his magic and turn companies around, through the lens of my camera, is going to be amazing. The world will be able to see what we've all been watching him do for years. At a time when most people just talk, Leslie Bocskor actually does the work to help make companies better.
What does Mars Callahan (writer/actor/director) have to do with this? Google that name and you come up with a guy previously sued for security fraud and making making death threats against his former company Gawk.
Also some of the shareholders may have a different opinion of what LB has done to make INQD’s share price better?
Typical Hollywood puffery. But what else is he supposed to say? Only an observation.
Yesterday’s action looks like MM’s took out some stops in order to fill a large buy on the BID (10 million shares). I think you guys know how I feel if the MM let’s you buy on the bid. I’d expect someone to be flipping up the .0017-.0018 level before it retraces it’s steps back down .0012.
My opinions are my opinions.
SB claiming on Twitter he is making a bid for several Dunkin Donut franchises in Tri-State area.
Must be where he get his car washed while eating honey baked ham sandwiches.
News is always a good thing but I’d be very wary of Baker’s crew coming in. They will bring in their own assets, yet like the previous guy here, they move those assets around to the benefit of themselves not the shareholders. No doubt you will hear about their Buck Lake Ranch complex with it’s concert venue, how much they’ve been offered for the entire property and what they think it’s truly worth and then discover the property is only open six months out of the year.
$25 million revenue includes business that they have been trying to spin off for years (a business they rarely talk about) + they count a land sale as revenue (when the couldn’t build sustainable housing on it for 7 years despite releasing dozens of press releases pumping how great they were building houses).
Keep an eye on these guys as they love to promise stuff, go radio silent , then fail to deliver. Sell on any pumps because the dump will eventually occur. Go to the LIGA board for more info on Baker.
I remember trying to tell you that years ago but you told me over and over again that I didn’t know what I was talking about.I knew you would eventually recognize the truth. Sorry it had to cost you tens of thousands of dollars.
The quarterly is for the period ending 5/31/23. The filing was due 7/15/23. No late notice filing extending it to 7/20/23.
Here we are 17 days later waiting again. Just like last quarter. The Controller leaving towards the end of last year has really affected how quickly they can report numbers, not that they were quick before.
Also the Yelp reviews for Sher-Wood and Davis Kitchen have gotten progressively worse over the past two years. David Fair has disappeared.
Late with the most recent quarterly filing. Not even a late notice filing.
Perma-Fix Joint Venture Awarded $40 Million, 5-Year USACE Contract for Environmental Remediation at the Niagara Falls Storage Site
Yay…a contract win from US Army Corp of Engineers!
Revenue increased 29%, gross profits increased 56% in Q2.
Company looks like it is turning the corner and starting consistent profits. Backlog is solid and Hanford may be nearer than we think (although end of 2024!seems a long time off). Enough contracts getting awarded presently. Small jobs in this business can turn into large jobs at any time because pollution/ contamination is always greater than originally estimated.
Fair not even pretending to act like he cares anymore.
SB throwing out more nonsense on Twitter….his liberal use of the word ‘soon’ indicates no much coming down the pipeline except to say he is in discussions with every franchise known to man….
Unfortunately I wouldn’t call a drop from $3.40 to $2.65 in one day “holding up”.
But if you mean from the low six months ago of 1.25 then I see your point. However most of the new names here got in on the July 18 news.
I suspect it will be a several year hold to see how long they stretch out the subscription revenue.
You are overthinking this.
The main reason why many OTC stock are .0001 is the insane amount of stock overhang, little to no access of capital from tradition sources, the only money that can be borrowed comes from loansharks or offerings that ensure future dilution. Most, but not all, have very little revenue. Most, but not all, have Preferred Stock that pays dividends in form of common shares. Most
Owners of these pennies own very little common shares but all the preferred.
In hindsight, view this You Tube video from Aug 2022 …start at the 2:00 mark …..You can almost see Bobby T’s nose growing as he speaks.
“Never an upside in lying, cheating, stealing”…it starts with
Leadership”
Every couple of years the naked short selling stories make the rounds.
The reason for the $2.50 margin per share rule is upward pressure could move a price to infinity if the customer did not have the necessary funds in their account guess who is responsible for making up the difference? The brokerage house(s).
This why the naked short selling is a myth in penny stocks. Blaming market makers or brokerages for a company going bankrupt is deflecting or denying what is really going on.
When all is said and done, perhaps we will find out the Bobby T pulled one of the biggest solar scams in Southern California.
Sadly I was correct. Company just issued a $100 million at the market offering (from time to time).
They have about 26 million shares outstanding, 60 million authorized. If fully subscribed they will come close to maxing out A/S or double the current OS shares.
They don’t have to issue any shares if they don’t want to but this filing indicates that they need money and they have to have program in place. Cheaper than borrowing money from a bank right now.