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But you realize they said they will make that a demand in the contract, and now we're to somehow believe the contract was signed, the products were made, and they're now available for sale? There should be some degree of reality to the pumping...
So Skyfidelity should put out a press release that, after their February 14 press release, contracts were finalized for SkiQ, and that the products have been produced for sale and are now ready for purchase, a few months ahead of schedule. Until then, this is where the company is at with SkiQ (from the press release):
Our goal is to finalize the production of the first five thousand (5000) SkiQs by June 2018. This number of units has been determined based upon our sales goal for the 2Q 2018. This sales goal is based upon current conversations with prospective SkiQ customers. If we can achieve this sales goal, our company will thereafter be able to maintain our aggressive production schedule and sales without further share issuance. To be clear, the five thousand (5000) unit goal is based upon certain communications and demonstrations of the SkiQ device to prospective purchasers. The sale of five thousand (5000) units is not a certainty and no investor should consider it as such. The delivery of the first five thousand (5000) SkiQ devices will be based upon actual purchase orders and the anticipated completion of manufacturing time frames...
From their last press release (less than 2 weeks ago). NDUs do not prevent release of sales information, and no press release since, yet there's a belief these sales have already been made. For those who are not playing with gambling money, be careful:
• Our goal is to finalize the production of the first five thousand (5000) SkiQs by June 2018. This number of units has been determined based upon our sales goal for the 2Q 2018. This sales goal is based upon current conversations with prospective SkiQ customers. If we can achieve this sales goal, our company will thereafter be able to maintain our aggressive production schedule and sales without further share issuance. To be clear, the five thousand (5000) unit goal is based upon certain communications and demonstrations of the SkiQ device to prospective purchasers. The sale of five thousand (5000) units is not a certainty and no investor should consider it as such. The delivery of the first five thousand (5000) SkiQ devices will be based upon actual purchase orders and the anticipated completion of manufacturing time frames
June press release, announcing soaring sales for surge protector: https://www.otcmarkets.com/stock/SRMX/news/Strengthened-by-Highly-Successive-Market-Visibility-Sales-Soar-for-the-TriCascades-iBright7-Smart-Surge-Protector-as-Hi-?id=163364
Annual report showing less than $15000 in sales for all their products in 2017. The surge suppressor cost nearly 1/2 million to produce -- the cost of which was paid with share dilution.
In short, don't get too drunk on optimism. Stock is already valued at well over 500 X earnings, and it's not as if there's proof that any customers have yet to purchase SKiQ.
thanks for the reply... and I agree, his chart analysis seemed neutral to positive, not negative, to me.
Is Claytrader ever bullish when he shows up on a board? The video did not seem to choose a side, but from my limited experience on boards where he shows up (like DCTH, etc), investors always think he's the kiss of death for a stock. I expected a possible bad news day on Feb 28 (their target date for getting FINRA all the documents), but until then, would not have been surprised if this stock kept soaring. Anyway, should be an interesting start to the week.
By the time 5G is commercially available, there will be many more 5G routers on the market... Being the first to market will mean less than being the ones that people purchase/use, so hopefully the SkiQ will ultimately be the router that AT&T or some Chinese companies choose to license/use/acquire, etc.
It was only this December when the company hinted at possible bankruptcy. The dilution is resolving/has resolved those issues, but it would be interesting if, in the space of two or three months, they've now suddenly become a hot commodity (and for a product they introduced last summer, correct?). An amazing turnaround, if so.
Good luck to you. I wish they sold off all their other products (which can't compete against ISwitch, etc), and focused solely on the router; the success of the router will make or break them.
informative post, thanks
Was the goal of the AT&T crank callers to find out the stuff that NDAs prevent SRMX from telling us in the press release?
They did retweet it -- it is still posted on the Skyfidelity Twitter acct (SkyFidelity, Inc Retweeted ElectTrader?@ElectTrader Feb 19), and I would agree that is a huge positive ... because I don't think they should be able to legally retweet that if the company thought it was untrue.
Best of luck to all. I'd have loved to ride it up too -- money's money -- but am comfortable holding out until I personally get the confidence some of you have in mgmt... even if that means I have to pay at a much higher price.
Arguing solely on the basis of reading comprehension, let's keep in mind that the CEO does not need to use the word "will" if the terms have been agreed to. He is simply saying they will write that into their terms, and hopefully AT&T will agree to them.
Still think this much-quoted tweet (“We rethought the finance strategy with this group. Therefore no new shares will be issued based upon this transaction”) refers to this boldfaced part of the press release, not to the 75 million shares agreed to in a settlement, but I guess it doesn’t really matter:
• In order to continue to develop our ground-breaking technology, SkyFidelity has entered into a financing agreement with a new financial partner. This new financial partnership has been widely discussed this week by our shareholders. This round of financing has been required in order to pay off existing manufacturing debt owed by TriCascade, Inc to our manufacturing partners. This round will require the issuance of an additional 75 million SRMX shares into the market starting February 21, 2018. It is unknown whether additional shares will need to be allocated in order to ensure the development and the presentation of the SkiQ device as well as our products to the marketplace.
The retweet is bullish to me too...as long as the retweet is not deleted (and so far it is still posted).
Did anyone ever get a statement why insiders had to surrender their shares in this stock? I know the news has been spun as some sort of positive to shareholders, but I still don't understand it.
Furthermore, if this is a start-up about to make it huge, wouldn't they be buying shares now? Perhaps they can't (due to "quiet" period) but that would have been all the greater reason for them to fight off having to surrender their shares in December.
An AT&T article about the 5G roll-out (http://about.att.com/story/multigigabit_mobile_5g.html): "The lab will be where our engineers can build and test creative solutions and run “stress tests” – simulating real-world customer experiences – with mobile 5G network equipment and devices from multiple vendors before they are rolled out to customers."
IMO, the above does not suggest AT&T have already determined which products from which vendors will be rolled out to customers... but that the SkyFidelity retweet of the AT&T phone call transcript does suggest that SkiQ will be definitely among the options that users can choose...
I notice SkyFideity re-tweeted one of the transcripts of an AT&T chat between ElectTrader and that AT&T representative: https://twitter.com/ElectTrader/status/965566086702948353
By re-tweeting, is this now an example of investment fraud if SkiQ does not ever actually get sold by AT&T? It seems to me, if SkyFidelity now has been told that AT&T wants SkiQ, they need to put out a press release which addresses some of the apparently dated comments from their Feb 14 press release.
It is a very low float, now with over 50 percent institutional and insider ownership, yet has only been an exciting stock for about one day -- when they first announced the licensing deal for the "women's Viagra".
As it's possible the stock could stay at these depressed prices a while, i sympathize with the exit, but I definitely think it's going to have a great ride at some point, and should be near 10 by end of year. The higher they go, the less dilutive their offerings should become -- and they'll make more, for new licenses -- and hopefully at some point they'll able to secure a grant too.
They have far from scored a touchdown yet, but their gameplay IMO really is an intriguing one. Anyway, up too early and babbling.
This stock will soar on real news if and when AT&T or BestBuy order SkiQ, etc, but it is a pure gambling stock if one is investing on the misreadings and misinformation you continually put forth as fact. Almost every tweet from the CEO is in the future tense -- he lives in the world of "if" and "may" -- which makes this a very tricky stock to get a handle on IMO.
I personally think the presentation of SkiQ makes it look good. And I personally think every criticism of the one marketed product on AMAZON (the surge suppressor) suggests that, possibly, Max Li is better on coming up with conceptual designs than on implementing them. Every javascript nightmare mentioned by the unhappy buyers made sense to me. And if that's the case, the risk/reward with SkiQ getting picked up by AT&T still seems pretty high -- but who knows>
Thanks for forwarding this...
I confess I think the whole FINRA paragraph in the Feb 14 press release was oddly written -- unprofessional and slightly aggressive/antagonistic -- so assume there's more to the story than what was stated in the press release. Obviously could be wrong with my hunch, though.
Anyway, good luck to all.
Helter Skelter, are you still following SRMX at all? Any insights as to current developments, etc? Thanks.
There will be enough dilution to require another RS before year's end. All those who traded their debt for preferred shares now are owed shares worth far more than the current market cap of company. It's a possible buying opportunity after they convert to common shares.
Only one document required by FINRA for a name change (not 10 years' worth of documentation):
http://www.finra.org/industry/faq-upc-corporate-actions-faq#2-3
3. What documents are required for a Company to change its name?
The company needs to complete the Issuer Company-Related Action Notification Form and submit to FINRA no later than 10 calendar days prior to the record date of the corporate action. Submissions can be set via email or fax to (202) 689-3533. Failure by an OTC Equity issuer to provide the requisite notice may constitute fraud under Section 10 of the Securities Exchange Act of 1934.
thanks
Does anyone have a link to the financials of the company? Based on their Feb 14 press release ("...A review of our financials will provide proper advice regarding debt obligations owed to our manufacturing partners..."), they are presumably somewhere but I have not been able to find them on any website so far.
Thanks in advance.
I believe it is permissible to tweet about anything, anytime, especially when using the future tense. A great example is this tweet about SkiQ and SPACEX:
https://twitter.com/i/web/status/963889140168212480
But let's make clear they are not testing SkiQ now. They are testing 5G.
Everything in boldface is what AT&T specifically said in relation to SkiQ:
Steve : Alright in this case I'm checking here the 5G news and in this case we don't have an specific date yet when it will be launch however we know it will be pretty soon, we have already the goal to have it in this year, we are still testing in some Texas areas and about the skiq router, we don't have any news most likely we may do it but it is not 100% guarantee :)
"No additional shares" does not mean the already-agreed upon dilution of 75 million shares is not going forward. There was no court date today as the settlement had already been agreed to; the settlement was not thrown out.
Enjoy the upward movement for as long as it lasts -- am impressed by the pump -- but no one should blame Peabody for having all his comments misconstrued by the posters here (even though he seems to encourage it).
By end of day, back to the .003s IMO... but who knows? As for a T-trade at end of day? Almost a certainty.
After the FINRA stuff is resolved, hopefully this becomes longer than a day trade or swing trade.
"no new shares" seems to mean "no additional shares beyond the 75,000,000" in the settlement that was already mentioned in the press release (and that was never directly redacted, not even in a tweet).
Stock's doing great -- the power of lawyer-speak tweets -- and likely may until close of day, but nothing has really changed since the Feb 14 press release, hence no new press release and a whopper of a T trade to be expected after the close of business today IMO.
Furthermore you do not release significant information solely as responses to questions from other people on Twitter. The hearing was cancelled for today because the settlement was agreed to.
If they've now come up with some sort of new arrangement (perhaps because 75 million shares was worth far more on Feb 14 than it is today), then the new arrangement is likely worse.
One would think company needs to release the new arrangement, whether good or bad, this morning.
Of course, this only has an affect if you are claiming this stock for a loss at year's end: "Under the wash-sale rules, if you sell stock for a loss and buy it back within 30 days before or after the loss-sale date, the loss cannot be immediately claimed for tax purposes."
If people think they are going to make money on this stock -- and as long they swing-trade, they might -- then they can obviously buy back.
Personally still expect dilution unless a press release comes out today stating otherwise. Providing significant updates solely through Twitter is not what real companies do.
Wouldn't they have to update such news with more than a tweet? If not equity dilution (good news), then with what?
Financing is done, but no new SEC filings. No mention whether the max amount of shares were bought, or whether insiders participated, or whether it was a single entity who bought most of the shares. The 8K did mention that they needed the $10 million to secure the licensing, which they've now secured... but the specifics would be worth knowing.
There is more than one biotech -- some of which seem to have respected mgmt -- valued at cash or less than cash. It's definitely a tricky sector.
Those whose learning lesson was to gamble less on a stock like this fits more in line with my current line of thinking too.
No matter how bad a stock is, they tend to never stay below cash value for long when they have an asset. There will likely be a huge pop within the next week (even if it's merely going from .09 to .022)...
"Gimme hope Joanna" -- a very underappreciated Eddy Grant song. Nice to have it going in my head now before bed, thanks.
We should have over 50 percent of shares in the hands of insiders and institutional investors once news of the financing comes out.