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I understand it is an assumption that all shares distributed were sold, however I think it is a fair assumption, considering the OS was maxed out last January, during those few days of large volume, in which we had minimal price movement. Considering, the OS was increased to the max over heavy volume days, IMO it is fairly good assumption that all shares distributed during that time were sold during that run.
It would be quite odd for lenders to not take advantage of that opportunity.
If the OS had increased after that run, then that would be a different case, and there could still be shares out there. However, that is not the case, and the shares were available to dump during that high volume, minimal pps increase run.
(And yes, the float question is valid. There was what 800 million in the float that could be sold?)
Yes, but any outstanding loans cannot be given any more shares (as the OS is maxed out). The loans may be outstanding, but no new shares can be issued in the current state of UNGS.
Last time, the reloads were the dumping of the rest of the OS. Now that the OS is maxed out, where would a 'billion or more' reload ones come from?
How could that be a true statement if the OS has been maxed out for quite a while?
OS is maxed out to the AS (has been for a while), so no dilution here.
UNGS
Me too.
POS CEO
Just need 1 big buy (250k - 500k) to get the ball rolling.
ABCE
Nice. For what it's worth (since L2 only shows 0.006 and 0.007), the big block currently on 0.006 used to be on 0.007. Previously any resistance was usually in the 0.006 - 0.007 range, and then thin until 0.012. Good luck!
No problem.
The stupid small split was another reason interest dropped. As you remember there was way much more panic than there should have been for such a small split (which had a reason).
Things are looking better in their revenue, just wait for volume to come in I suppose.
There was a 1 for 10 split last January (as part of a financing deal that later fell through). So the AS was reduced quite a lot. If I remember correctly, the OS was no where near the AS before the split.
It is odd that the AS is getting increased at the same time the company is buying back shares. Also, seems like they could have done 500 M AS again.
Thanks. I'm pretty sure the lack of volume is truly lack of exposure. Essentially people forgot about it, and now nobody is catching the good news for ABCE.
Plus, I'm sure a lot of eyes are on SOUPQ today for some reason :)
Nice catch on SOUPQ!
On another note, is it good when a stock's OS is REDUCED ? :)
ABCE
Has to be. OS has decreased by 8 million (almost 20%)
If the large block would just move off of 0.006, we would move now!
Good 10Q for ABCE
ABCE 10Q out yesterday:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12244178
Yes, sorry for they typo, should have been 600k.
I still don't know about all the moving parts in this situation. It makes sense what another poster said about SPPC not needing to use EXOL as a shell to do this. There must be some sort of connection.
Fair enough.
So in the end after the split we get:
- EXOL current common shares goes from ~160 million pre-split to ~3.2 million post-split
- SPPC current common shares (remembering the 8:1 exchange) goes from ~280 million pre-split to ~5.7 million post-split
- SPPC preferred A goes from ~1 million SPPC to ~1 million preferred B EXOL pre-split to ~20k preferred B EXOL post-split to ~60k common shares EXOL after 30:1 exchange
Doesn't make sense that the preferred Series B shares are specifically mentioned if they are to receive the same treatment.
Thanks for the info. Being a physicist I wasn't aware of that.
So in this case, what is happening to the preferred A SPPC shares?
Yes, but don't the splits usually not involve the preferred shares?
My statement still holds lol.
I mention 30:1 exchange of shares, which including a split of 50:1 means a grand total ratio of 1500:1
Math is hard :)
It is not a 1500:1 split, it is 50:1.
It's from this:
No, the split is only 50:1, but the preferred B shares get 30:1, so in total (after the split), the preferred shares would be getting effectively 1500:1 in pre-split shares.
So their common shareholders get screwed too?
The only holders not screwed are those that currently hold series A preferred of SPPC (~1 million shares), which convert into ~1 million series B preferred EXOL shares, which after the split of all common holders of both EXOL and SPPC (who will have about double the shares of EXOL holders) will convert into 30 EXOL shares per preferred share (which if you include the split means 1500:1).
Does this sound about right?
Thanks. At least it is clear now. This was not an acquisition. Dugan and Romano essentially turned EXOL into a shell, in which SPPC reverse merged into. So they handed over controlling interest to SPPC just to be given back controlling interest in EXO and Pizza Fusion.
How can they screw us like this?
I wonder if the SPPC common shareholders get their EXOL shares before or after the split?
Where do you see this?
I know that they sure didn't like replying to shareholders.
I still don't understand it!
Question today is whether the 0.0012 is going to hold or not?
Exactly! Nobody could have seen this coming. Complete surprise to EXOL shareholders.
It's because of the difference in the pps. The amount of notes is the around the same (as seen later in the 10Q)
To add to the confusion, you can keep reading to see the waiver. EXOL can waive any of those clauses if they choose. Actually that specific condition is also included in the waiver terms for SPPC.
Yes I know. Which means Romano and Dugan will own nothing compared to the other 1 million preferred B EXOL shares. They get nothing out of this so why do it?
Correct. But my statement still holds as the warrants and SPPC preferred A shares convert into EXOL preferred B shares.
Both are multiplied by 30 so it's the same ratio as what I said.
Hopefully Monday brings clarification.
So together they would hold 30k out of the 1 million preferred B shares, coming from the 1 million preferred A (if memory serves me right) shares from SPPC.
It still points to nothing gained for them.
Why and how do you speculate that they will buy their companies back for cheap?
Also, Dugan and Romano were not given any piece of SPPC prior to this. The evidence is in the filing. All SPPC shareholders are listed in the filing, including the number of shares that they own.
Sure maybe. But the point is they said they already recommended the split to shareholders. And we sure weren't those shareholders.
So they would have to buy EXOL from the new EXOL for cash? They still aren't getting cash, they are spending it. Plus there has to be something illegal about that lol.
I really can't see any reason that they would profit from this (aside from some sneaky thing like you just suggested). Nothing in the terms in the filing benefits them. And there are so many questions from how it was written.
I'm open to suggestions.