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Perma-Fix Joint Venture Receives Formal Award of European Waste Treatment Contract Valued at up to EUR 50 Million
Still the same 38 Class 3 vehicles listed on the RMA website.
No mention of the 63 Class 3 vehicles delivered a few days after the first lot.
https://randymarionev.worktrucksolutions.com
Just for context, 8.5 million shares today is 4.25 billion shares pre-split.
The ole quarterly preferred dividend conversion to common.
And 4.25 million shares were sold in one block about 40 min ago.
0-60 mph in under 2 seconds? What a joke. That’s why they call it a concept car.
Here a link to the Top 100 fastest cars tested. Only two are sub 2:
https://www.zeroto60times.com/fastest-cars-0-60-mph-times/
The solar company (and all of Bobby T’s other subsidiary companies) are out of business.
They are being sued by vendors and customers alike. All equipment and vehicles has been taken back by vendors or Bobby T disposed of it before shutting down. Offices are vacant. Bobby T fled back to Bakersfield.
Even the financial reports posted by Canouse show there is no longer a business. The only thing worth anything is the shell but Canouse pulls the strings here.
You already know all this.
Maybe you are just trying to keep the board active?
The longer it stays in the 2.90 level , the better chance is has to bust thru (on volume).
I’m always wary that they will drop an offering at any time during this surge as that has been their modus operandi for quotes some time. Raise cash when stock price is high , sell their personal shares or convert preferred stock and then do stock buybacks when they are done offloading.
Essentially shorting their own stock. Legal but suspect. Greek shippers have perfected this tactic. Just have to know how to trade ‘em.
Guess I was wrong as not only did they purchase 3.9 million shares, they expanded the buyback by $10 million. Although a piece of me thinks the buyback was done so the executives could exercise some of their then out of the money options and sell them (as inter-related company transactions are commonplace).
These shipping companies tend to issue shares when the stock price is high and then buyback when the prices are much lower. Akin to shorting your own stock.
Let see if that trend continues or if the leopard has actually changed its spots.
Still 38 Class 3 vehicles for sale at Randy Marion, the same amount that was delivered on 12/21.
Thought it was mentioned that Marion had presold many units. Guess that wasn’t the case. What a surprise!
https://randymarionev.worktrucksolutions.com
Ok, I’ll bite. Why are we caring about a list of delinquent property tax owners as May 2012?
That was some “news” that Berman dropped. NOT!!!
A few more folks bought his BS and dropped some money so he could sell into some volume.
His previous 15 million business ended up having 95% of the sales being credited or written off.
His “investments” in other businesses were all written off. He has tried claiming the company he bought from himself is worth $2 million without proof of it ever having a dime of revenue.
Yet people are going to blindly believe he has hooked up with a British hedge fund? And go into business together?
I think he knows a guy who knows a guy that bought the businesses he wrote about on X. Maybe it’s the African miner who is writing a multimillion check that somehow can’t get cashed? Or Dutch insurance company with their hundreds of thousand of customers? Maybe he has to translate the contract from Turkish to English? Maybe he has to fly to Malaysia to make sure his administrative HQ is set up before announcing deal? Maybe he trying to decide between Bloomberg and Fox which network he wants to appear on to disclose the news?
If this sounds ludicrous , these are just some of the Berman stories that have been told in the past on X, and you can guess how many ended up being true.
Revenues double ….from $11,000 to $22,000. Then they shut down the only revenue generating division.
A lot of cruel jokes here…
Every rich family needs a tax shelter to create losses to offset gains in other parts of their portfolio.
Seems like GRST fits the bill for the Leon family.
When you have a company that doesn’t adjust it’s Incentive Stock Awards shares by reverse splits ratios, it shows that management is far more concerned about it’s payday than it’s shareholders. Even GMBL adjusted it’s incentive shares when it did its recent RS.
It would be easy for the company to buy back shares now using investor money while selling their incentive shares to line their own pockets. Especially with a lower share count as volatility increases.
Too much related party transactions going on here to figure out who really owns what. Toxic debt remains a heavy burden especially when the can keeps getting kicked down the road at the shareholders expense.
To me, you can’t even walk away to take a shower with this type of volatility. Dangerous to short unless you are experienced. Same with being long. For me, it’s an avoid stock because of the wild swings that can be cause by factors outside your control.
Point 1: Yes, the 308K revenue should show up in cash flow in 10-K filing for period ending 9/30/23.
Point 2: You are correct, got my dates wrong.
The company is obviously counting on the spacing of the annual and quarterly reports.
The 10-K (thru 12/31/23) will only show amount of all vehicles invoiced. But you won’t know that until Mar/Apr 2024 filing. Conveniently, vehicles will likely not be delivered until after 1/1/24 and therefore payment would not be recorded until Q1 10-Q in May 2024. Even IF vehicles delivered by end of 2023, company could claim payment not received until 2024.
So this essentially buys the company five months before public filings show what really happened with the RMA deliveries at the end of this year.
Unless someone monitors the parking lots of RMA, it will be anybody’s guess as what happened to the vehicles imo.
This directly from the contract between Mullin and RMA from Dec 2022:
3. Payment Terms; Passage of Title. All Vehicles shall be shipped FOB MULLEN' factory. Payment for each Vehicle is due in full upon delivery. Title to each Vehicle shall pass from MULLEN to Buyer, or to the financial institution designated by Buyer, upon MULLEN' s receipt of payment for said Vehicle. Buyer will provide to MULLEN any resale exemption certificate, direct pay permit or any other exemption information related to Buyer's purchase of Vehicles as may be reasonably requested by MULLEN. Buyer will be solely responsible for the collection and remittance of any and all applicable taxes arising from its sale or lease of Vehicles and other tangible items, to any customer of Buyer.
====
Whether or not these are real operating vehicles, Mullen can invoice units when shipped (Dec 2023). RMA must pay Mullen at the time vehicles are delivered to lots Jan 2024).
Repurchase of Vehicles. DEALER will endeavor, to the extent practicable considering all relevant factors, to sale and deliver all MULLEN Products and services that are ordered by the DEALER. At Dealer’s discretion, any new products (less than 500 miles) not sold by Dealer after a period of twelve months can be returned to MULLEN at original pricing.
===
Which means RMA has the right to send vehicles back to Mullen after 12 months (that may be end of 2024, but Mullen won’t reflect receipt until beginning of 2025).
Think about these dates from a 10-Q filing perspective. The shareholders will always be about 45-60 days behind the actual news cycle on stuff Mullen chooses not to PR.
1.Will RMA actually pay Mullen hard cash upon delivery?
2. Will Mullen actually assign title to RMA upon payment? If RMA doesn’t pay, what happens to vehicles? Do they sit in the lot until sold or returned? Do they get titled only if they are sold to end customer?
These are things to look for. Unfortunately you need boots on the ground to see what happens to these vehicles.
While the right hand is paying off convertible notes ($4770 oldest note) and PR’s it on Nov 9, the left hand is issuing millions of shares and takes out another new convertible note. Some of the new debt pays the old debt. Unsurprisingly this was not PR’d.
On October 10, 2023, the Company issued 7,648,443 unrestricted shares of the Company’s common stock in exchange for a debt conversion at $0.003 per share to fully settle a convertible note and accrued interest for $22,945. The note was dated December 3, 2020.
On October 12, 2023, the Company issued a $30,000 convertible promissory note to a corporation. The convertible note bears interest at 8% and has a maturity date of October 12, 2025 at which time all principal and accrued interest shall be due and payable in full. Prepayment is permitted without penalty. After maturity the interest rate increases to 10%. The convertible note is convertible by the holder, at its election, into shares of the Company’s common stock at an exercise price of $.01 per share.
Typical Barry move.
Berman going to still run this company with no working website?
My WAG is his “partner” will own everything and Berman will claim it’s a 50/50 deal which will allow him to book financial numbers and then three years down the road we will find out the deal between them was never consummated and all numbers will get reversed, except of course, for the shares that will be diluted to pay off debt owed to Canouse, et al.
Pump n dumps still make people money and the bottomline here is it’s all that matters to most folks who do drive by’s in these stocks. Remember the biggest cheerleaders are often the ones who exit first.
Gap has been filled so I would expect some retracement back to under $2.40.
I think you misunderstood what I was replying to. Sources of cash used to pay accountants , consultants, related parties.
I would totally expect a penny stock to default on a convertible note. 90% of them do and wind up paying back the note they death spiral conversion of common stock (if they ever do pay it back).
Think…..LB is paying this out from the proceeds of convertible notes and issuance of common stocks and warrants.
FINANCING ACTIVITIES
Proceeds from convertible notes 250,000 -
Proceeds from issuance of common stock and warrants 753,250
Net Cash provided by financing activities $ 1,003,250
That’s another 3.5 million shares diluted in a week. 10% increase.
About 50% increase in OS in just over two months.
All the Canouse tickers are getting this treatment.
Works out perfectly for management:
Furthermore, pursuant to the terms of the amendment to the Company’s 2022 Equity Incentive Plan, which was approved by the stockholders at the Company’s annual meeting held on August 3, 2023, the additional 52 million shares of Common Stock available for issuance under the 2022 Equity Incentive Plan will NOT be adjusted as a result of the Reverse Stock Split.
Still don’t know what the
OS count is. The shareholders meeting filing showed 411 million as of 11/4. Had to MUCH higher by the time of the R/S.
Then this nugget buried in today’s filing :
Furthermore, pursuant to the terms of the amendment to the Company’s 2022 Equity Incentive Plan, which was approved by the stockholders at the Company’s annual meeting held on August 3, 2023, the additional 52 million shares of Common Stock available for issuance under the 2022 Equity Incentive Plan will NOT be adjusted as a result of the Reverse Stock Split.
Guess who is getting their incentive this week?
This is one of a dozen companies that Canouse and Trillium diluted into the ground in 2022 and 2023.
It should be a warning that if you see the family name or any of his firms involved to run for the hills cause the price will eventually go to .0000001 .
Yet people still fall for his nonsense every year. Greed!
A lot of 6/7 trades today.
It’s become a limbo contest here. Typical Canouse activity.
Pretty quiet here for such a heavy volume day…..
I wasn’t talking about you specifically. Just know how the Canouse stocks trade. It may work for you if you weren’t a pre-RS shareholder.
Good luck but Canouse always wins.
They disclosed the “news” on X. Nobody believes them except the stock market rookies.
The low share count is masking just how much dilution has occurred since the reverse split on Oct 2.
Nobody blinks at 13 mil share dilution post split. However pre-split that’s 4.5 BILLION shares, in just a little over two months.
Too much convertible debt here.
I see this filling the gap up to the high 2’s.
Gross profit plummeted from 36% in 2022 to 18% in 2023.
Net Operating Loss went from -8% in 2022 to -20% in 2023.
Sales down about 10% from 2022 to 2023. Expenses up a lot. They decided that their legal woes are not material enough to disclose. Guess a Federal lawsuit and getting sued by the owners of the company you bought are immaterial?
Doing a decent enough job of paying down some creditors but the Canouse/Hicks overhang is wearing down the stock price. Employee retention credits saving them much needed cash. Easy money from factors is nice but becomes addictive and the 25% cut they give up hurts the bottom line. At some point they revive the S-1 but it will be at prices much lower than I even previously thought.
Bottomline, the company wasn’t capitalized enough to take on the debt. They used the stock as currency to pay note holders and preferred holders. Don’t know if Fair underestimated how much that would be. If Fair had $5 mil free cash going in, the business would be prospering , but he didn’t so he tried to cut ever corner he could and borrowed heavily and is now paying for it, even more so with higher interest rates.
Someone took a flyer buying 850,000 shares at .003.
2.3 million shares traded in the last 15 min.
Since no revenues have been earned since they announced relaunching of DNA energy drink and DNA Tags , all you would be doing is supporting James Canouse’s $200,000 annual salary which gets paid in common shares.
Plus whatever interest expense they book for convertible debt and costs for the accountant.
This one could easily see .0001/.0002 . Just like all the other Canouse stocks.
JMO
Nothing like having a Canouse family entertainment center occupying a Canouse shell. What could possibly go wrong?
Think you added an extra zero.
.003/.004
But still bad.
I don’t see any of the known Canouse companies involved in SFLM. Are you sure?