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Sale could be anywhere from a complete liquidation to a little over 17.4MM shares (enough to drop her below the 5% reporting threshold).
it is interesting that the restricted stock appears to be unchanged in the reported SS, indicating that she likely sold/otherwise conveyed them in a private transaction (and that they remain restricted).
The company's past failures to deliver, while mostly under different management and completely unrelated to this issue, are driving this.
Until and unless the company releases some sort of news about the acquisition, buyers will continue to sit on the sidelines. Even a status update with a revised timeline (showing that things are still moving ahead) would move the ball.
The biggest impact from the fins themselves is ensuring that the company stays current ahead of the September 28 deadline for non-reporting pinks.
Acquisition and sales updates will be key to generating interest/volume in the short term; surviving the rule enforcement should provide a little kick as well - lots of companies will be going bye-bye.
TDAmeritrade has been publishing a list of companies with no-buy orders leading up to the 28th. Any holders of these securities may sell, but cannot buy any new shares. I'm not ashamed to feel a little glee in noting that other failed pinks I've dabbled with are on the list, but SHMN is not:
https://www.tdameritrade.com/retail-en_us/resources/pdf/TDA101550.pdf
Possible, tho strict compliance was never their strong suit
My sense is that they were a bit stung by people calling BS on them putting out fluffy non-news "updates", and so are waiting until there is something substantive to report.
Most folks willing to speculate have already shot their wad. The rest of us are waiting for news.
And waiting...
And waiting...
Says the guy who magically appears and starts slamming the company.
It's really not a matter of the IRS "allowing" the corp to escape liability due to the SOL; it's a statutory requirement. More likely is that the IRS chose to pursue the individual cases and allow the SOL to expire WRT the corp.
It's a bit weird that they were pumping out nearly weekly PRs dating back to March 30, but it's now been a month since they've said a word.
You cannot sell restricted shares. Instead, you must remove the restricted legend. This may be done by: filing a Form 144 (if the shareholder is an affiliate) tho the company must be current and major volume restrictions exist; through a Rule 144 safe harbor, provided the company is current & the shareholder is not an affiliate and hasn't been one for the last 90 days; or subject to Section 4(a)(1) of the act, provided the shares have never been held by an affiliate, and the current shareholder has owned the shares for at least two years. In all three cases, other restrictions also apply.
In any event, any such legend removals will be reflected in the updates provided by the TA, and published by OTCMarkets. As of today, this figure remains where it has been for at least the last year:
Restricted 304,292,017 07/14/2021
As I have stated in the past, it is not inconceivable that someone removed the legend prior to the company going dark a few years back, and then sat on the shares (including during the period where they spiked above a penny) only to sell now, but that sounds rather implausible.
I've always viewed it as more of a mom-n-pop shop that just happens to have some stock trading in the pinks. The fact that it's a pubco is more of a bug than a feature.
If you look at the history of this company, they are more focused on running the business than on inflating PPS. In the real world, the former should precede/lead to the latter.
It comes down to each individual to determine if they are an investor, or a trader. If they're an investor, it seems to me that ensuring there is a viable company should be the focus of the CEO, and that doing so will create shareholder value (which is the duty of a company's officer). Conversely, if they're a trader, the company really doesn't have a duty to secure short term increases in PPS.
Very possible.
Most negotiations of this nature proceed VERY quickly until the last little bit...it's the last little details that always seem to take forever to resolve.
So probably a loan...We likely would have seen some preceding filings if they were thinking about a cash raise - they would need to file a Form 1-A or Form D for even restricted stock sales, nevermind an S-1 if they wanted to sell registered securities.
If you do, could you fill me in?
Stop filing?! So, you think they'll run to over a penny on the gray sheets?
shit day for the markets generally, but I agree - I would love to see that one triggering event (consummation of the acquisition, perhaps?) blow out all of the flippers and shorts.
Looks like the buyers collectively took off around lunchtime for a long weekend. Fingers crossed that they're back and ready to spend some $$ on Monday!
Lotta 0044s to chew thru
Sadly, this is super common amongst penny & sub-penny broker-dealers (which is why there are so few of them anymore). WDCO won't even touch sub penny stocks anymore for this reason.
I would think so as well, but I'm not sure what the reporting pipeline is from TA to OTC - if there is a delay somewhere along the line, the Restricted/float numbers may have actually changed a few days before being reported.
I don't know how long Alpine takes to clear deposits - with most broker-dealers, it's several days to a week to go through compliance/legal, but you sometimes see expedited service.
I guess it's not impossible that they received the package earlier, did the compliance review, and then submitted to the TA for legend removal and transfer. If that's the case, I could see the legend being removed on Monday and shares saleable on Tuesday, but it's definitely a stretch.
Both are definitely possible; just need to keep watching the SS
He can't, because there is none.
Watch the SS table - zero dilution.
Don't believe anyone who tells you the TA is lying - Pacific is a solid player who would not risk their SEC/DTC accreditation for an issuer - especially one as small as SHMN.
Wouldn't it be nice if OTC Markets prohibited trades of less than 'X' dollars?
Watching some douchebag drag PPS down by selling $18 worth of stock gives me a headache.
Volume is definitely the key here.
It will be interesting to see how much (if any) of today's spike (and accompanying volume) was organic, and how much was MMs stairstepping the PPS upwards. Hoping more of the former.
I still have a hard time predicting how this one will land. For the first time since Drex became involved, it seems like the company is taking tangible steps to improve its position. At the same time, there are definitely obstacles (perhaps not as many or as horrible as this board makes them out to be, but they definitely exist).
I see it more as an update of ongoing business commitments with an estimated impact on top line revenue. This is the kind of disclosure that investors hope to see (and almost never do in pink-land).
Maybe not earth shattering, but a good start...
Former CEO...
Nice try.
If it's so bad, why are you still here/posting? Honest question.
It looks like they really are committed to this new line:
https://www.otcmarkets.com/stock/MSLP/news/MusclePharm-Closes-Four-More-Distributors-for-MP-Performance-Energy-Line?id=305416
I agree - good in that it had good news, good in that it shows continued management engagement...
...but meh in that there is nothing new or material (ie, deal is done) yet.
Tweet (but don't get too excited):
The management is pleased to share with all stakeholders that earlier announced details on March 25, 2021, and the development of these skincare topical prescription products are going on as per schedule. We anticipate it to supply as per plan and buyer's requirements. $SHMN https://t.co/DNnSDtUY0b
— SOHM, Inc. (@sohminc) May 28, 2021
Except slots only allow one player at a time.
I'd say it's more like taking half of the blackjack tables out. The players who are just diddling around may bail, but those who are really interested in gambling will likely take a seat at one of the remaining tables.
Honestly, it's just different goals.
Conceptually, I respect that someone who is trying to get back in cheap or trying to flip shares wants to shape the narrative...
...right up to the point where that narrative shaping is keeping the PPS artificially low.
I'm long here from the trip 0s days. I could dump now and make a killing, but I'm looking for retirement bucks, and that's less likely to happen when people post fabrications as fact without supporting evidence.
haha...this isn't for him.
it's for anyone else who might not pull the trigger down the road because of his statements, which then means I may be less able to transact my holdings.
So, to be clear, you're alleging (without evidence) that the company falsified its filings? Because even this quarter's report shows Baron only holds 10k shares: https://backend.otcmarkets.com/otcapi/company/financial-report/283247/content
Furthermore, even if he held any additional shares, he would be an insider per Rule 144, and as such the shares would be restricted.