I'm here for the entertainment and to entertain. I'm certainly not here to give financial advice and anyone who thinks otherwise is a fool.
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When someone tells you who they are...believe them.
Too bad for Foxconn. Does nothing to improve NoRide’s situation.
RIDEQ filed its February financial report with the bankruptyc court the other day. As of February 29, RIDEQ had SEVEN employees (we know No Ride only has ONE now) and assets (cash) of $50M.
Not sure if NoRIDE has to file another financial report at the conclusion of the bankruptcy procedure. Also not sure where the $25M that NoRIDE must disgorge to the class-action claimants comes in. I'm going to guess that those payments are still to be made, but that's just a guess. The current pps suggests that $50M is no longer there, or else the pps is being discounted for the $25M to be paid out.
Anyone care to educate us on how NOLs are valued by potential purchasers of the company? I will freely claim total ignorance of the subject.
Those tickers are RSHN's main competitors. But not for selling shrimp. For selling SHARES. So they're trying to grab the attention of low-information "investors".
And it looks like it worked.
I order no one. I provided a rough analysis of revenue and P/S.
I read a bunch of useless adjectives describing GRPS’ future that lacked anything even semi-quantitative.
I was even told that the purpose of this MB was therapeutic and intended to assuage poor investing decisions.
What annual revenue are you projected that will move the pps a lot higher?
No, you didn’t answer the question. As best I can tell.
So can I put you on the record as saying that director PURCHASED those shares? Yes or no?
I beg to differ.
I don’t see anything to indicate that the SHMP insiders “lined their pockets”. And that’s what one might consider the difference between SHMP and a scam.
The one thing Easterling has that could give him a true payday is the Series A shares. So far, he hasn’t pulled the trigger. Will he ever? Maybe.
Umm…you didn’t answer the question.
Was that filing based on the PURCHASE of shares by that newly-appointed director?
Please explain in financial terms what GRSP needs to do to “rock the house”?
And don’t forget to include the current number of outstanding shares in that answer.
Quite (over)sensitive are we? Since when is asking a financial question “attacking”?
When you can elaborate on…and quantify…”rock the house”…then you might have the basis for optimism.
But let’s see if we can start the conversation. How much annual revenue will “rock the house” and what would you expect the pps to rise to?
So you’re saying that was a purchase? Really?
I already did. Might do it again soon.
At least I'll be able to spend my penny...maybe. Got to get there first.
And what is going to support a GRPS pps above a penny, presuming no additional dilution? Not the predicted income per the earlier post. So what will it be? And wishful thinking is not an acceptable answer.
Well...the shrimp do die, at least eventually. I think the question should be: Were there shrimp in the aquariums in the first place?
GRSP currently has a market cap of $5M. If GRPS sells 1M pounds of shrimp per year at...let's say...$5 a pound (and that a pretty generous price, IMO), that's $5M revenue annually. And a P/S of 1. Can GRPS support a P/S of 3? I'd be happy to sell my shares for a penny a piece. But where does the growth come from to support a higher pps?
Then there's costs. That's a whole 'nother discussion.
1M shares at $0.0105 percent his morning.
Another super-low VWAP locked in for the next 10 days.
Doh! Your math is better than mine today.
Well, after a 1:5 reverse split it would. But that's really the only way.
Putting your own quotes in a box doesn't make them any more realistic. It's just sad. Seek help.
Keep loading. No Ride keeps getting cheaper by the day...for a good reason.
Where's the link to a "super huge win against Foxconn"?
I don't think that's the BoD's priority. They seem smart enough to know that pissing away legal fees on a dubious lawsuit does not maximize the value of No Ride. Pimping it out does.
But you get right ahead...keep smelling....
You still haven't answered the question of what happened to Hightower. He no longer suits your fantastical narrative, so you abandoned him?
There's nothing wrong with taking profits. This is the OTC for chrisakes. If there's a pattern of runs (or pumps) and pullbacks...make the most of it.
One can only hope. Let's see when SHMP puts the next tranche to GHS.
I am the proud owner, temporarily I hope, of a bunch of SHMP shares. I consider them the equivalent of lottery tickets. SHMP gets pumped? I win. SHMP continues to decline? Well...it's been fun...and entertaining.
BTW...a "bunch" is as much detail as you'll get...or deserve.
That's $3M shares today sold at $0.0102 or less. That's another reset for the VWAP. GHS and Redhawk want to make some money. So maybe things will change shortly? One can only hope.
Sorry...there's no there there. Put it in a box. Put it in italics. Heck...put in in bold. It doesn't change the facts on the ground. No Ride has about $36M as assets. Now, how much of that might still need to be awarded to those class-action litigants remains to be seen. Remember? That's what the SEC ordered No Ride to do.
Foxconn, Fisker, Rivian, LAS...they're in the EV business. No Ride is not. Plain and simple.
No Ride currently has nothing that would put it in a position to do anything with EVs. Could they acquire what's missing? Certainly...and No Ride shareholders will be diluted right out the door.
No Ride, IMO, has two main assets...a ticker...and NOLs. I expect the new board will be looking to make the most of those two assets.
Yep...every director is going figure out how to maximize No Ride's ticker and NOLs. Not figure out how to make EVs. Why? No Ride has no capability to do that.
Maybe you should have taken a clue from Hightower. He's gone. Maybe off to Africa? Maybe as a consultant to Foxconn? He's certainly not providing any expertise to the green-eye shade folks who now inhabitat No Ride's board room.
He is she is positing the obvious, so they can't be faulted there. But without a discussion of costs and growth potential, it doesn't amount to much.
It's a very nice entry point. I agree. But it reads like SHMP redux. I will try to put that aside as I continue to watch RSHN...and hope for a nice bump in the pps.
There are a lot of big-picture questions to address in the future. One shrimp farm isn't enough to support a publicly-traded company, so what's the goal? IS Fuel Technologies looking for an opportunity to go public and sell their "tech" to other shrimp farms. That approach has been tried, but from what I'm aware of, not very successfully. Is RSHN looking to create shrimp farms in other locations? Including indoor locations? Those situations introduce a whole new set of costs to consider. I imagine land doesn't get much cheaper than AZ...unless you're talking about TX.
BTW, 90-day cycles is what SHMP claimed they coul do. But SHMP's "tech" doesn't appear to be up to the task.
So, how many 96m2 raceways can RSHN grow to in AZ? If each raceway can produce 1000 pounds of shrimp every 90 days, that's 4000 lb per year. At what price? $5 per pound? Frozen? (Ignoring the additional costs for quick-freeze equipment and storage facilities). Let's say $5. That's $20K per raceway per year (using the 505 mortality estimate). Want $1M in annual sales? That's 50 raceways. $10M? 500 raceways (stack 'em up).
But where's the growth going to come from? The market cap is already $4.3M. It's going to take more than $10M in annual revenue to generate growth.
Just throwing out ideas and questions.
2M shares at $0.0108…
Can we get another run to 2.6 cents please?
I seem to be immersed in shrimp. Looking for one good pump amongst them.
But all this attention. And so few pounds of shrimp sold, between the three of them. And all those claims of having the best “tech”. Who is being realistic and who is blowing smoke?
You mean RSHN hasn’t reported the details of the license agreement? That’s an issue, if true. You know…pig in a poke.
And the cost per lb is?
Yea...SHMP has a patent (or patents) that don't expire for a few years. How's that working out for SHMP.
A cynic might think that RSHN is being set up as a vehicle to buy out DGI...making the owners of DGI very happy...but doing very little for RSHN shareholders.
Not only would they need the old staff back...they'd need the old IP back. Remember? They sold it to Steve Burns for $10M.
No Ride has as much to do with EVs these days as COOP...or any REIT...or an insurance company...or....
It would seem that too much reading of the nonsense posted by our favorite poster has ruined the critical thinking skills of the rest of this MB.
Oh...and No Ride's most valuable asset seems to be its Net Operating Losses (NOLs). I expect Gallagher will be focusing on maximizing the return to No Ride for the NOLs as it looks to pimp out No Ride as a shell.
But...but...all No Ride needs is additional financing the No Ride bag holders might say? Well, every dollar of "additional financing" dilutes the value of a No Ride share. IIRC, there was talk that all that's needs is $200M (to accomplish what? I don't know). Let's say No Ride gets that amount...that reduces the value of a current No Ride share to less than 50 cents.
Ah...back to predictions of crashing central banks. I guess the bump you expected No Ride to experience hasn't happened, so the Chewbacca Defense needs a reprise.
Again...COOP has nothing to do with No Ride, except for Bill Gallagher trying to salvage as much as he can from No Ride.
And still...you were so "high" on Hightower, but as I said, Hightower would be out of the picture. So please explain again, what did Hightower's trip to Africa, that you were so excited to post about, have to do with anything post-BK for No Ride. Because...Hightower's gone.
I give RSHN...correction...DGI...for publishing this study. To the extent that its main purpose is as a promotion piece for DGI, with less importance for RSHN, is TBD.
The quality of this report for exceeds anything any consultant or "partner" of SHMP has ever published. So that's a milestone right there.
Acknowledging that it is a report of trials, the report needs to be fleshd out. The report says 21,000 PLs initially. Let's ignore the reported and estimated mortality rates and stick with 21K. The mean weight after 100 days was 42g. Again, ignoring mortality, 21K PLs x 42g = 1940lb. Using DGI's estimated mortality of 50%, that's still just shy of 1000lb. Pretty nice, IMO.
The report says that the avg shrimp size was approximately the same for both trials, 42g. What the report doesn't say (unless I missed it), is what the final biomass of the first trial was, i.e., after the initial thinning to reduce O2 demand. So we really don't know, at least I don't know, what the actual improvement was using DGI's tech.
The contribution that DGI's tech makes to the equation is important, as is the cost to RSHN to license DGI's tech. That info would be helpful.
But overall...nice job.