Outstanding shares is still low: 97,356,271
Explains the recent trading volume.

That explains the volume and price spike. Thank you for sharing.

I have to think Puge Management has a plan as hiring a law firm and negotiating a settlement was not the easy or most economical path.

My thoughts: I've been tracking this stock for years. A reverse split of 4-1 will not get this stock back on the Nasdaq at current levels as the goal would appear. I think that is the goal as Mark did the opening bell a couple years back.

Going up again!

Low volume at a low price usually indicate large volume owners. Wouldn't be surprised with the limited shares.

Looks like both open cases have settlements in process.

Looks promising as the recent Pacer legal summaries state that both parties should be able to reach resolution through mediation.

Always silent before the storm. Patience.

This should have been an SEC case from the start. I know why they went through the court system.

It's not in Adar Bay or Union Capital's best interest to draw attention as the SEC is cracking down on OTC manipulation (death spiral). They'll probably strike a deal with PUGE.

Looks like mediation in April. Both sides probably want to minimize court costs.

110 million shares with no volume. Looks like someone knows something.

With minimal information available due to the lawsuit, I am appreciative of the information shared here and discussed.

That's the game of the court system. Extension after extension with a settlement in the end. I would be more concerned with no extensions. This shows that we have a good legal team.

Friday's court filing was 30 pages. Alex Funes appears to know what he's doing.

10k has historically come out this week.

I think Adar and Union have come to the conclusion that the lawsuit would ruin any chance of obtaining shares.

Correct. Same timeframe as the 10k last year.

Google search: "Puge Adar Bays", Pacer Monitor should be one of the top results. "Puge Union Capital" for second case.

I am still long.

From Pacer

Case 1:15-cv-08860-RA - Adar Bays
Case 1:15-cv-09542-RA - Union Capital

Pacer.com

I will try to write a summary of missing information this evening and probably more important, how I obtained it.

Precedence and jurisdiction are key in legal cases. I spent a descent amount of money obtaining all pertinent documents and have been sharing to gain interpretation. Look up the stock to see the outcome.

The only similar case I could find with the CEO challenging the "convertible debt" that would give legal precedence is HDYN in July of 2010.

Low volume from the low float. No one in their right mind is going to vote YES for the increase in shares and insiders don't own enough to sway the vote. As I pointed out in yesterday's post, even our debtors are not pleased with the proposal to 10 billion shares.

Pacer Info:

Note: $5 a document in 14 day trial period.

In regards to the 14a:
"For example, the Plaintiffs proposed Injunction Order directs the
Defendant PUGE not to make "disparaging" comments in the filing of the Proxy Statement with the SEC or not to "take actions discouraging or that could be perceived as discouraging." The prior Injunction Order did not include that language. The Plaintiff in
the Adar case even filed a Letter requesting to brief that Defendants PUGE was in Contempt because the language in a Preliminary Statement filed with the SEC was allegedly disparaging. A telephonic hearing was held on January 5, 2016 and Your Honor found, among other things, that the Defendants were not in contempt."

In regards to shares:
Most significantly, and in the abundance of fairness, PUGE has already filed a Proxy Statement relating to 4,000,000+ shares Adar is seeking and 554,102 shares that Union is seeking in its Motion for Injunction, and other lenders. Hence, Defendant PUGE is in actuality already in compliance.

Many of the transcripts are not available.

Check out the Puget Technologies/Adar Bays case on Pacer.

Something is weird here. We have a CEO that also runs a law firm specializing in Investments, Finance, etc with a law partner that also specializes in security cases. Via October filing, a majority of debt was settled. With combined $146,533 owed to Adar Bays, Union Capital, and LG Capital, at a share price of $.01 and conversion at 58%, only 25 million shares are needed to settle the debt. Around 30 million are in reserve which is sufficient to pay off debtors at prices of two months back.

Why pay full price when a SEC filing will drop the price?

Jaspers owns 25%.

I think volume will be at around 2 million shares a day for 10 days as the company needs to get to 51% ownership to get the vote to go through. Reading the filing, I am half convinced our CEO might expect a No vote to see how the court responds. Everyone loses (including our debtors), if we file bankruptcy. Remember that our CEO is a lawyer and knows the system from previous deals.

This is when the CEO slowly loads up. Otherwise, he will not win the vote to increase outstanding shares. This is a known process. A reverse stock split is after the outstanding share increase, then the CEO sells during rally.

A game of chicken, however, I plan to vote No unless the authorized shares and par value are adjusted to more reasonable values.

Looks like someone is slowly buying up the stock to not create a spike.

http://data.cnbc.com/quotes/PUGE/tab/8.1

Positive PR http://www.gaininggreen.com/momentum-stocks-intercloud-systems-nasdaqicld-xenia-hotels-resorts-nysexhr-united-states-cellular-nyseusm-pathfinder-bancorp-nasdaqpbhc-under-armour-nyseua/1263215/

Today's volume of 304,461 is significantly higher than the daily average of 113,776. With debt being restructured per SEC filings, cash flow should get better. Read in to the filings as a significant portion of the debt is held by companies controlled by members of the management team. In the stock world, going from bonds to stocks is a good sign as that is essentially what they did late February/early March.

Lead Plaintiff

I find it interesting on how many law firms are advertising for lead plaintiffs. The executives probably did pay for good PR of the stock. I didn't buy as the stock shot to $19+ as I evaluated the fundamentals and not an article by an unreliable source (seriously, SeekingAlpha). May 26th will be a great day when the lawsuit folds. If I join any class action as the Lead Plaintiff it would be against the law firms pushing a lawsuit with minimal merit and no shareholder support.

With a P/E around 2, minimal concerns. Should counter their lawsuit for dragging the price down. I would bet that they are buying as the price falls. BTW, in at $12 and adding at each dollar decrease thereafter.