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So...the new CEO is Salvatore Rincione. The same guy who owns a chain of Ufood grills? Are they going to go ahead and just acquire this restaurant chain as well as Charlie Graingers?
I think this just holds steady for today and tomorrow as MM's play games. Correct me if I'm wrong...but if Roche waits until next week to show his hand...then he doesn't have to post financials until the end of the 3rd quarter?
With all I've seen on name changes and merging in Nevada public companies...it shouldn't take long for us to see the final outcome here.
Nevada
Nevada Revised Statutes (NRS) 92A.180 allows for the merger of a subsidiary into a parent or parent into a subsidiary without shareholder approval. An entity may only avail itself of the provisions of 92A.180 if the parent owns at least 90% of the subsidiary. NRS 92A.180 provides in pertinent part: “Articles of merger under this section may not contain amendments to the constituent documents of the surviving entity except that the name of the surviving entity may be changed.”
Unfortunately, there's not even shorting going on here...meaning the mm's don't even care about this at the moment.
http://otcshortreport.com/?index=TRKG&action=view
We need a news update...until then we just watch the flippers flip like flipping idiots.
That is A LOT of shorting!
That's my question...why did it jump yesterday instead of churning at .01 to try and sucker impatient holders to sell? Is it because they know a pr is about to be released and they would rather cover at 3 cents than 3 dollars?
Why is that monkey? I'll agree that the stock is going to have a higher pps with a lower O/S...but it all depends on how successful the company is. Example...tesla has 164 million O/S and it's trading at $377 dollars a share.
I think something BIG is close. People didn't just suddenly say..."okay, I'll buy today"...this is the storm before the hurricane IMO
Is it? Or did the 100 million shares roche enterprises got for the loans get cancelled when the debt was cancelled in the auction?
That should solidify it. The board would have had to vote on a reverse split before the company was done. That didn't happen. But the A/S increase did.
I suppose this could explain why they upped the A/S even though they knew it was coming to an end.
"A Public Shell has 10,000,000 shares of common stock authorized, of which 5,000,000 are issued to its 200 shareholders. In the merger with a Private Company, the shareholders of the Private Company are supposed to receive 80% of the Public Shell’s stock, which is impossible without an increase in the authorized number of common shares or a reverse split of the outstanding common shares, both of which would require shareholder approval before closing."
It's not absurd...it is being above 5 dollars a share to be on the NASDAQ where roche enterprises belongs.
How is it pure nonsense? If you're talking about value and the overall picture...why would Roche keep 143 million shares when the float is only 20 million and his family owns 18 million? If he wants to show the true value of Roche enterprises on the big board, a 10/1 split would make the O/S 18.5 million rather than 185 million and the share would be worth 30 dollars in a 600 million dollar enterprise rather than 3 or 4 dollars.
Well, then I would have to go out on a limb and say they're naked shorts? Unless roche enterprises is selling some of the convertible shares it acquired from loans? Maybe to spread the wealth and recover a little bit of the loans? Hell, there were 35,000 dollars traded yesterday...if I can still do math?
There's still a lot i don't understand about T-trades and mms...i understand they're there to make sure a stock stats at a certain price...so someone doesn't buy a ton of shares and manipulate the price by selling it for much more than the stock is worth. However, I don't know where the shares come from or how they are purchased...the original point of my comment was that I would much rather see a 10/1 split...but it will be more like 25/1 if the selling continues?
But what is making me sick...and correct me if I'm wrong...the more shares MMs keep dumping into this thing...the higher the R/S of so many shares of RVUE for shares of roche enterprises is going to be?
He's not just going to give the shell away...it would be something that already has billions of dollars...that he's a part of...that needs investors for future growth and expansion around the world...aka...the cachet hotel group.
Especially if it does take 30 days to close rvue. I can't see that happening now that the deal is done...but I didn't think it would take this long to complete the auction either. I suppose in the grand scheme of things it only took 19 days rather than 10...and the way the mms are pushing...we might be closer than I think. I don't think I've ever seen them push this hard.
T-Trades
https://incrediblepennystocks.wordpress.com/2013/06/25/incredible-penny-stocks-what-is-a-form-t-trade/
I think they're bullshit and I don't know why they're allowed to happen. Regardless...I've decided that no matter how low this goes, I'm in it for the long haul. I was watching to see if it got too low, and then try and recover some of my money...but I've decided if Roche is dumb enough to throw away 143 million shares (almost 2 million dollars) then he's not a businessman at all...he's an idiot. I'll stay for the conclusion. Good Luck.
Again...press release says it all.
Let's take a closer look...
"Roche Enterprises bid $100,000 of the Company's indebtedness to it, effectively offering to cancel the Company's indebtedness in return for taking ownership of the Company's assets"
RVUE:
"rVue is a media technology company that operates in the fast growing Digital Location Video category. Based in Chicago, rVue uses proprietary technology to simplify the planning, buying, trafficking, post analyzing and invoicing of 175 DLV Networks and the nearly 2 million screens they operate throughout the US and Canada. rVue is able to quickly generate national and regional plans, and due to its technology platform, equally equipped to hyper target a zip code, voting district, single office building or hotel. What takes agencies weeks to do manually, rVue does in days. Its single point of contact and big picture view of the category serves to identify the most efficient options and saves both agencies and clients time and money. rVue is positioned as "technology that augments human thinking."
What assets can a digital company have in an office suite? 2 computers and 2 employees to create ads online? He paid $100,000 dollars for 2 computers? I doubt it. He bought the shell and the NOL and he's going to carry it over to Roche Enterprises.
I would agree. THIS IS JUST MY COMPLETE OPINION...I would go as far as to guess that the shares acquired with the loans got cancelled when roche paid himself off in the auction. That leaves his 143 million...his families 18 million...and our float...which is guessed to be around 20 million. I have to believe it was 10 million...but I think pacchini would have to sell off his 9 million in the last 2 months since he had insider info as to where this was going? Regardless...lets say he kept them and the float is 10 million. That's right around 185 million. This has Nasdaq written all over it. I'd say a 10 to 1 reverse split. So that puts the O/S at 18.5 million. If roche enterprises is worth 600 million minimum...and you own 400,000 shares of roche...thats 40,000 shares of roche enterprises at 30 dollars a share for 1.2 million dollars. Again...all opinion...just having fun speculating. Good luck to us all!
I would even go as far as to say I'm 80 percent sure this is what's going to happen...the only question in my mind now is how many shares of roche enterprises will we get for shares of rvue?
Well...as Z pointed out when I asked about roche already having a shell for roche enterprises set up and active in Nevada...what better place to put a company that already has a 15 million NOL to help offset all the money he will have to pay in taxes when he takes roche enterprises public. I think this is going to work out very well for us very soon.
I keep coming across the same article when it comes to reverse merging into a public shell...and this statement sticks out.
"Most people familiar with the financial world know the name of Warren Buffett, he is one of the wealthiest men in the world and like the old brokerage firm ad says when he talks, people listen. A reverse merger was good enough for him; Buffett bought out a textile manufacturing company and then merged his insurance empire into it without even changing the name. His company, Berkshire Hathaway, is the product of one of the most famous reverse mergers to date."
You make a very valid point. I have bought more than I really want to lose here...and while it may bite me extremely hard...im going against many of my rules because of the wording and the way things are playing out here. If there were billions of shares in play...hell, even if the guy who bought it didn't already own 200 million shares...i would feel differently. I just have that guy feeling about this one.
Agreed! If this company was going to dissolve...they wouldn't have had an auction where we all knew roche would be the high bidder...they would have filed for chapter 7 bankruptcy...shares would be cancelled...and assets would be sold to the highest bidders to try and recover some of roche enterprises money. That didn't happen here. Still think this will be a life changing play.
It's the risk you take with anything. We take chances just getting out of be in the morning. It's the risk you take to live life. In this case...it looks like one of the best plays on the otc. It's the risk I'm willing to take verses many other plays. Good Luck if we don't see you again.
All in the wording. Glad to see you back.
I agree...sole ownership meaning the company is no longer just a business supported by roche enterprises...it is now officially OWNED by roche enterprises...and
"The Company's current understanding is that Roche Enterprises intends to operate the rVue business using THE ASSETS ACQUIRED in the UCC sale, through a new entity under its sole ownership."
I capitalized "the assets acquired" in that quote because the shares were part of the assets acquired. Those will also be put forth in the new entity under Roche Enterprises control. If he destroys our shares...he destroys all 143 million of his shares (which he paid a little over 1.5 million dollars to acquire)...he also destroys all 18 million of his family's shares...and he is left with an empty shell he could have bought much cheaper. It may take 30 days to see the outcome of this venture...
"The Company intends to dissolve within 30 days."
Being, I think, but I'm not sure...the company has to dissolve completely before the new is formed.
Again...I love the line:
"The Company's current understanding is that Roche Enterprises intends to operate the rVue business using the assets acquired in the UCC sale, through a new entity under its sole ownership."
The shares were part of the assets acquired in this sale.
Why no it doesn't Z...good point.
The only real question now is what this will become? Roche didn't continue to dump money into it 3 months ago just to throw it away. He has a plan. I was hoping to see Roche Enterprises go public...but I'm not sure that's his end game with this. Roche already has an empty shell registered in Nevada for Roche Enterprises, LTD. He's been keeping it active for years...but has never done anything with it?
http://nvsos.gov/sosentitysearch/PrintCorp.aspx?lx8nvq=bjQ%252b2IjUzLWlDOct9SVa%252bQ%253d%253d&nt7=0
rVue : Announces Sale of Assets to Secured Creditor and Pending Liquidation
0
06/21/2017 | 06:25pm CEST
CHICAGO, IL -- (Marketwired) -- 06/21/17 -- RVUE HOLDINGS Holdings, Inc. (OTC PINK: RVUE) announced that Roche Enterprises, Ltd., formerly known as Acorn Composite Corp. ("Roche Enterprises"), the Company's majority shareholder and an affiliate of director Robert Roche, has completed the process of foreclosing upon its security interest in the Company's assets. As previously reported in the Company's press release dated May 10, 2017, the Company was unable to repay the short-term bridge secured financing provided by Roche Enterprises in the aggregate principal amount of $416,000. At that time, Roche Enterprises issued a notice of default to the Company announcing its intention to foreclose upon the Company's assets and conduct a public sale of the assets under the Uniform Commercial Code (UCC) on or about May 31, 2017.
In mid-May, Roche Enterprises filed public notices of the planned sale pursuant to the UCC. It commenced the UCC sale on May 31, 2017. Roche Enterprises bid $100,000 of the Company's indebtedness to it, effectively offering to cancel the Company's indebtedness in return for taking ownership of the Company's assets. No other bidders appeared at the sale, however, immediately prior to the sale, a third party expressed potential interest in a recapitalization of the Company that would realize an economic benefit from its net operating losses (NOLs), while another third party expressed potential interest in acquiring the Company or its assets. Although it was not legally required to do so, Roche Enterprises agreed to hold the UCC sale open for one week, through June 7, 2017, so as to permit the Company to evaluate the potential for a transaction with one of these parties. The Company, Roche Enterprises (in its capacity as secured party) and their respective advisors reviewed their expressions of interest, and Roche Enterprises agreed to additional extensions of the UCC sale process through June 19, 2017. The Company had substantial doubt regarding the ability of either to actually consummate a transaction that would preserve shareholder value and result in any net proceeds to the shareholders. Ultimately, neither of the potentially interested parties appeared willing to provide any interim financing to continue the Company's operations and permit it to further explore a transaction, although discussions continued.
On the afternoon of June 19th, Roche Enterprises formally issued notice of having completed the UCC sale, effective immediately. As a result, all assets formerly owned by the Company are now the property of Roche Enterprises. The Company has no remaining cash or other assets. It has ceased operations and there are no proceeds available for distribution to the shareholders. The Company intends to dissolve within 30 days. The Company's current understanding is that Roche Enterprises intends to operate the rVue business using the assets acquired in the UCC sale, through a new entity under its sole ownership.
The Company's CEO, Mark Pacchini, said: "We greatly appreciate the support of all of our investors and customers. We regret that the Company could no longer operate in its current form and wish each of our shareholders and our team nothing but the best."
Forward Looking Statements
This press release contains "forward looking statements." The statements contained in this press release that are not purely historical are forward-looking statements. Forward-looking statements give the Company's current expectations or forecasts of future events. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company's control, and could cause the Company's results to differ materially from those described. The Company is providing this information as of the date of this press release and does not undertake any obligation to update any forward looking statements contained in this press release as a result of new information, future events or otherwise. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Important factors that could cause such differences include, but are not limited to, the Risk Factors and other information set forth in the Company's 2015 Annual Report on Form 10-K, in our other filings with the Securities and Exchange Commission and in our press releases.
Company Contacts Mark PacchiniPresident and CEO 312-361-3368
Source: rVue Holdings, Inc.
© Marketwire, source Press Releases
nope...right the first time...form 15
sorry...form 13
I think we only saw one or two people dump on today's news. Hell, the form 15 filed last December only showed 68 total share holders. I'm sure that number decrease significantly when news of default came out in May. I'll bet there are 20 to 25 people here holding the whole float.
The only line I don't like about the press release...
"The Company intends to dissolve within 30 days."
I really didn't want to wait another month to see this explode...but if she blows up like we think it will...what's another 30 days to retirement?
I like the line in the press release...
"The Company's current understanding is that Roche Enterprises intends to operate the rVue business using the assets acquired in the UCC sale, through a new entity under its sole ownership."
Then why has this company with all its contracts and profits still trade at .0001? Why doesn't NORAT hire a 3rd party contractor to make his numbers post legally? Oh...thats right...because the 3rd party auditor wouldn't dare post those numbers for fear of facing prison time...BECAUSE NORAT IS A LYING FRAUD!
I'm sorry! What???? This is all fraud! When did these guys ever LEGALLY file? NEVER! Norat claims his buddy is an accountant and can do the books just as good as any 3rd party auditor. Guess what...market doesn't accept your filing unless it is done by a 3rd party. Why doesn't Norat get a 3rd party to do it? Because he's cooking the books and he's a complete FRAUD! If his numbers were real and a 3rd party did it...this stock would be 10 plus cents. Norat is scamming the penny investor. DON'T BE A SUCKER!
You want more fun news about this great company? Have you ever looked up noble metal kings, the alleged company getting the gold???? Guess what...
http://listings.findthecompany.com/l/24980983/Noble-Metal-Kings-LLC-in-Salt-Lake-City-UT
there are only 2 employees digging up all that gold...which is probably a friend of norat and his wife sitting at home and the gold is investor money!
Furthermore, I looked up noble metal kings company address on google maps. Ya, a gold mining company would have an office and equipment, this shows the guys house!
https://www.google.com/maps/place/2228+E+Keller+Ln,+Salt+Lake+City,+UT+84109/@40.694163,-111.8289017,17z/data=!3m1!4b1!4m2!3m1!1s0x875261bbe3f2291d:0xd17f743d2ecfed0
This thing stinks so bad of fraud and corruption they should be part of the Obama administration.