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The posters on $THBD on X are clueless. Like leading sheep to slaughter. Impossible to believe anything they post except for updating share counts.
How much longer before we see the Q? Days, weeks, months, or never?
They weren’t done yet for today.
Now 66,376,730 OS.
Nearly 2 million shares after hours sell order today.
I posted the case number for you two weeks ago because you said you had a paid Pacer account.
Crickets so far.
Case: 2:23-cv-00659
RMA inventory levels unchanged from a week ago. No vehicles have been removed (sold) and none have added (new deliveries) to their website. Imagine the dealer has to find space somewhere to park all these units (and wonder who is paying for that storage).
Just did a quick review of their unaudited financial statements. The books are all messed up imo, especially Accounts Receivable.
A/R June 30,2023 :$160,224
Sales:Sept 30,2023: $13,848
A/R Sept 30, 2023: $322,624
How can A/R possibly increase 2x when only 13,848 is added,assuming new sales are on credit AND there is zero money collected?
Impossible.
I would think the cash numbers are off as well.
Same issues in previous months. I’d probably even question the sales numbers that happened 2022.
No wonder why the bottom has fallen out in this stock.
The extension expired yesterday so today means it’s late.
Q is late again, but that shouldn’t surprise anyone who has followed this company.
Some of you guys aren’t very good with numbers.
Then OS after the reverse split was about 26.736 million.
The OS today is about 56.131 million.
So more than double , over 115% increase in just a couple months.
I just did…that is what you responded to.
Nothing new in the Annual Report however I did notice , and confirmed in 4/30/23 report was that 670 million shares that were supposedly issued to JP Carey on 4/20/23 were instead issued to partially payoff a Brandon Berman note. The note in the financials disclosed this. Could be an error, probably not. If you noticed this past quarter there are a couple new Brandon Berman “loans”.
Actually, four days ago the X account said “I can only control what i can control”.
It definitely appears that Canouse’s shares adjusted for the 1:500 reverse split, otherwise you would see billion share + days in the last few months. The highest we’ve seen is just over five million shares.
Everything I posted here has been correct? Called it all the way.
How is your track record here?
I’ll wait.
I don’t think many shareholders have noticed that the OS count has doubled since the end of April. Conversion of preferred shares has happened.
This company has mastered the art of buying back shares when the price is low and raising money thru the issuance of shares when the prices are higher.
In other words, they are essentially shorting their own stock. Sell high, then cover and buy back shares when it’s low. Accomplish it by inter company transactions and various self dealings. I suspect another offering is on the horizon. I’d imagine they are still waiting on the herd to find their stock, so current longs have some time imo.
A Greek masterpiece.
Other than Bri123, a lot of useless and nonsensical posts lately.
It’s dilution pure and simple by Canouse and friends. Trying to spin as good news or related to some upcoming acquisition is disingenuous at best.
Folks can scoff that the OS count has only “doubled to 56 million” in the last few months. However, their eyes would explode out of the back of their head if it was said that 14 billion shares (pre-split) had been diluted (in just a few months). If you recall Third Bench had a fully diluted share count of 272 billion shares (pre-split) although about 90% of those shares were tied to Fair’s preferred stock. Still, that left about 20 billion shares tied to Canouse preferred and another 7 billion shares (probably higher now due to lower stock prices) tied to convertible debt (pre-split shares) and accountant shares.
The question is why does Canouse and friends want out so badly? Does that Federal EEOC lawsuit scare the crap out of them for some reason? Are there other lawsuit they know about but shareholders don’t?
I don’t expect this upcoming quarterly filing to reveal very much about that though.
At least 7 million shares of dilution today imo.
Won’t be surprised if today was another 80 million shares of dilution!
Towards Third Bench making an acquisition or someone reverse merging into Third Bench?
Up to 51.8 million OS now.
Who else is dropping 4 million share blocks ?
And even more dilution today.
Transfer agent not reporting immediately like they have over past couple of months.
Great find.
Wordsmithing “dealers” and “distributors”.
Payment terms constantly changing. The company gave themselves another 90+ days to come up with another payment plan option to be disclose to shareholder s on the next 10-Q.
All of Michery’s voting shares come in handy when approving shareholder resolutions. Like Incentive shares.
Mullen stockholders never really had a chance and they still don’t.
As I have posted previously :
The 2022 Plan, as amended, has reserved for issuance 59,000,000 shares, of which 52,000,000 additional shares were approved on August 3, 2023 (such shares are not subject to adjustment for any decrease or increase in the number shares of common stock resulting from a stock spilt, reverse stock split, recapitalization, combination, reclassification, the payment of a stock dividend on the common stock or any other decrease in the number of such shares of common stock effected without receipt of consideration by the Company).
======
I’ve never seen a company exclude it’s incentive shares from reverse splits. That’s how you know management is looking after itself first and could care less about it shareholders (some who may also be employees).
I agree. I had to search really hard for it. Not found on the main website. I tried searching the RM Isuzu site first because of the box truck similarity before I randomly tried EV. Just a lucky guess on my part.
Still looks like none of the original 38 Mullen 3 on the site have been sold (or removed from the website).
10-K has to be released tomorrow, right?
FWIW, 228 vehicles now listed on Randy Marion website:
https://randymarionev.worktrucksolutions.com/?page=7
26 new Mullen ONE vans added to Randy Marion website. The 38 Mullen 3 cab/chassis are still listed. Nothing has been sold (removed). Total of 64 vehicles.
https://randymarionev.worktrucksolutions.com
I’ve got to agree with Bear about the Fake Twitter account with a dead domain and they follow absolutely no one.
If you read the tweets and realize not one of them came true it should hit you like a ton of bricks.
But then again there is always suckers who just want to believe.
The allegations in that article are incredible and if proven true is a textbook example of how not to handle an HR issue.
Remember this is only the reported cases. I wonder how toxic the work environment was for those that chose not to report issues (reasons being that the workers may have been undocumented or feared for their jobs).
The company is fighting the Federal EEOC wrongful termination case. A lot of flings in the past three weeks on Pacer. Not a subscriber so can’t read details.
Always wondered who Okane Enterprises LLC was (other than a Preferred Shareholder). Turns out the Registered Agent is none other than the law firm Vincent & Rees.
Long time followers of this ticker know that David Rees was the original partner of David Fair in this ticker. Then it came to light that Rees was somehow involved with fraudulent activity in another penny stock company. Soon after, his name disappeared from Third Bench.
Googling Okane Enterprises LLC brought up a judgement against Fair, Third Bench, Santa Fe Flooring, and OGB that I don’t recall being discussed here (nor disclosed in their filings).
Turns out the were sued in NY court and had a $134,000 judgment issues against them in Feb 2023. Didn’t answer any complaints and failed to show up for any proceedings.
How many other undisclosed suits are out their that they don’t consider material?
And is Okane Enterprises LLC a company that is obscuring David Rees continued ownership in Third Bench?
OS is still tiny for an OTC stock? It better be after doing a 1:500 reverse stock split.
I wonder how their federal lawsuits are proceeding?
The company is desperate for cash that it continues to loan it’s accounts receivable at 25% discounts to current value. But they do repay the amount of course with interest.
Company in a tough spot right. Crude oil and nat gas prices have been steady since last reporting quarter (even though NG has increased recently). The question is whether to pump or not pump when prices are on the low side. I would expect revenue to be the same or a little light compared to previous quarter. They just need the cash flow right now.
The insider buybacks have stopped. Stock price is at levels 15-25% below those buybacks. Hopefully none of that stock was bought on margin.
Shawn definitely said he wants to convert that “friendly” debt to equity shares.
Try dividing $7 million by .0003 !
Not a pretty number.
Ok, try dividing it by .0012 .
Still not a pretty number.
Equity conversion of those shares is the only way his friends and family are going to get their money back. Pre or post split.
Likely it will be post split. Current shareholders will be sacrificed for the sake of his friends and family.
Sad but true.
Basically Shawn said he would convert the convertible notes and related party payables (totaling $7 million) which are friendly notes (implying family) to equity pretty
soon as well receiving $2 million (also converted to equity) from an investor. Want to uplist to NYSE .
Almost guarantees a R/S has to happen to get there (trade over $1).
68 beds currently but only 50-55 occupied at any one time. 2023 revenue of 5.8million ($1.4 Q4) and EBITDA over 1.2 million.
Each bed generates 30-35k revenue but somehow they value the bed at 10x revenue (perhaps when they sell the facility) or $300 million.
You can find the conference on YouTube:
Emerging Growth Conference 66
Personally if I thought they could pull this off I would wait for the inevitable reverse split.
Back near the August 2023 top. Can it breakthrough or are we seeing a double top?
Likely at an inflection point where the move will either take price to $4 or return it to $2.40 imo.