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I think in the long run if Ted is legit this can turn around. But that is if GNCP starts making revenue through JVs etc. DEW* just paid off all of it's toxic financing and is now on a run. But before the MJ news they already had a real product. GNCP doesn't have that. They need to get a JV with a good company to see the PPS go up. They obviously are not going to mine anything themselves as that isn't what they do.
I was really really hoping to see Ted or Lowenthal's name on the mandatory meeting in January for future MMJ companies in Delaware. I know it seems like a joke for them to enter MMJ but what else do they have at this point.
Someone stated they have played this stock for the past two years. That was all fine and dandy when the float was below 1 billion up until last Nov/Dec. Now the float is being reported as 3.2 billion and is likely double that or soon reaching it. The higher the float/outstanding shares the less volatile this stock is and the more news it takes to move it. We have to eat up a TON of shares to get back to .001+. I don't see that happening without a major catalyst. And the buyback isn't it. The buyback is a joke at best. By the very nature it was worded it is a huge red flag. There are more than 5 red flags here and that is my limit to bounce. I am just hoping for a small uptick to break even. I have just about made my losses from here back in other stocks. So the shares I have here will essentially be free. Just my logical perspective on it.
I am thinking about the same thing. Money tied up here can be made on the new dot com stocks. Good luck, I have seen you in some of the same plays I have been in. I just don't post in as many as you do.
Yup, TA does not track the float. Quote from their mouth "We don't do that." I am sure it is possible for the TA to keep track but there is really no benefit to the TA to keep track of it. From everything I have read about the float it is pretty difficult to get it exact...even if the company is tracking it. I think the only way to get a true count is if all the shares are accounted for which wouldn't be done very often...hence why the float isn't updated that often.
At this point you have posted they don't need to file so many times we are all aware. I looked into a couple of the companies on that list and they are from the OTC. However I didn't check to see if they were at one time NASDAQ or NYSE for them to be on the list.
Even MMJ might not be a cure all at this point. People are becoming skeptical of companies not already in a related industry.
Dude I read your post as GNCP was on the list...lol. Scared me for a second.
After GNCP I think I am taking a break with the mining companies. I'll probably go back to reading charts and reading less boards. Charts are a lot easier on the emotions. But GNCP has already drained me of all my cares so at this point it is just a waiting game. Fortunately pot stocks are hot right now so there is money to be made elsewhere.
too many red flags...
Yeah you are right. I meant to say the float will match the O/S at 6.2 billion with all of the conversions. Got my numbers mixed up.
My guess is all have been or are in the process of being converted and there will be an apology PR stating Ted can't believe they would do this. That is what happens when you have toxic financing. The high volume and low PPS explains the dilution. So the float will likely be 8.4 billion shortly imo.
At this point I am just hoping for a run to .001 with whatever Ted has up his sleeve.
This is the only logical thing I can think of. In December they did get the conversion price 1/2 point higher than their target so lets hope the same happens for this conversion. If that is the case we could see a decent run here. I have a feeling we will lose some longs that are able to break even or make a profit.
I look at all points and not just the ones that are convenient to me. The counter point to this (and I don't want to agree with it as much as you) is volume could also mean dilution. That is if the restricted shares are being converted and the float is rising. It happened in December and Ted tried to deny the float had changed. Remember the TA reported numbers debate? Like I said I hope this isn't the case but it is a possibility.
A/S = 10 BIL
O/S = 6.2 BIL (Ted says half are restricted shares)
Yeah , yesterday no change.
When gold is astronomically high.
That jives with what 007 was saying with chatter from other boards wanting to get the pps up to 001 by Friday.
It is 160 and the wording you quoted is in it. I was mearly pointing out a different stipulation in the same section.
Here is the specific wording on Delaware's corporate buyback. Has legal jargon so there may be a loophole in there somewhere.
§ 160 Corporation's powers respecting ownership, voting, etc., of its own stock; rights of stock called for redemption.[/url][tag]insert-text-here
(a) Every corporation may purchase, redeem, receive, take or otherwise acquire, own and hold, sell, lend, exchange, transfer or otherwise dispose of, pledge, use and otherwise deal in and with its own shares; provided, however, that no corporation shall:
(1) Purchase or redeem its own shares of capital stock for cash or other property when the capital of the corporation is impaired or when such purchase or redemption would cause any impairment of the capital of the corporation, except that a corporation other than a nonstock corporation may purchase or redeem out of capital any of its own shares which are entitled upon any distribution of its assets, whether by dividend or in liquidation, to a preference over another class or series of its stock, or, if no shares entitled to such a preference are outstanding, any of its own shares, if such shares will be retired upon their acquisition and the capital of the corporation reduced in accordance with §§ 243 and 244 of this title. Nothing in this subsection shall invalidate or otherwise affect a note, debenture or other obligation of a corporation given by it as consideration for its acquisition by purchase, redemption or exchange of its shares of stock if at the time such note, debenture or obligation was delivered by the corporation its capital was not then impaired or did not thereby become impaired;
(2) Purchase, for more than the price at which they may then be redeemed, any of its shares which are redeemable at the option of the corporation; or
(3)a. In the case of a corporation other than a nonstock corporation, redeem any of its shares, unless their redemption is authorized by § 151(b) of this title and then only in accordance with such section and the certificate of incorporation, or
b. In the case of a nonstock corporation, redeem any of its membership interests, unless their redemption is authorized by the certificate of incorporation and then only in accordance with the certificate of incorporation.
(b) Nothing in this section limits or affects a corporation's right to resell any of its shares theretofore purchased or redeemed out of surplus and which have not been retired, for such consideration as shall be fixed by the board of directors.
(c) Shares of its own capital stock belonging to the corporation or to another corporation, if a majority of the shares entitled to vote in the election of directors of such other corporation is held, directly or indirectly, by the corporation, shall neither be entitled to vote nor be counted for quorum purposes. Nothing in this section shall be construed as limiting the right of any corporation to vote stock, including but not limited to its own stock, held by it in a fiduciary capacity.
(d) Shares which have been called for redemption shall not be deemed to be outstanding shares for the purpose of voting or determining the total number of shares entitled to vote on any matter on and after the date on which written notice of redemption has been sent to holders thereof and a sum sufficient to redeem such shares has been irrevocably deposited or set aside to pay the redemption price to the holders of the shares upon surrender of certificates therefor.
8 Del. C. 1953, § 160; 56 Del. Laws, c. 50; 57 Del. Laws, c. 649, § 1; 59 Del. Laws, c. 106, § 3; 59 Del. Laws, c. 437, § 9; 70 Del. Laws, c. 349, § 3; 77 Del. Laws, c. 253, §§ 16, 17.;
http://delcode.delaware.gov/title8/c001/sc05/index.shtml
Yeah, I agree. With the volume this high for the last few days someone is dumping shares. The same thing happened in December when the other restricted shares were converted and dumped hence the 2 billion increase in the float followed by the 3 billion of unrestricted share increase.
Called the TA (Madison). A/S and OS are unchanged as stated here and reflected on OTC. I also asked about the potential name change and they stated if it happened it would be announced and pushed through the TA and DTCC out to everyone else. I explained it was showing up differently in E-Trade and he stated it is probably just how they code it. It makes sense because some of my other stocks have the "COM NEW" at the end as well.
Well he hasn't delivered the filings yet so yeah is a liar. And I seem to remember way back when, when he stated in an email or PR that the float categorically was not 6 billion even though the TA said it was. Remember that argument??? Seems Ted lies a lot. I'd rather he didn't lie but the fact of the matter is his lack of business acumen is costing me money.
No one knows what the float is other than what the OTC says. TA doesn't track it and if they do they won't tell you.
Ok lets stop talking about manipulation for a minute because that is all this board talks about and lets figure out the discrepancy in the name change on different brokers. I have read if a company changes its name it has to also get a new CUSIP.
I'll call the TA tomorrow.
Best I can do. Here is a screen shot of what it showed in November of last year and what it shows today.
And here is a link off of E-trade's site. If it doesn't work just go to E-trade and get a quote for GNCP. I also just noticed the category is Technology : Communications Equipment...hmmm
https://www.etrade.wallst.com/v1/stocks/snapshot/snapshot.asp?YYY220_NaB/2IhiYV3MlHnC786JKu60rgbkA7KUgE50kQ5V70s3O2PslgmcoiLt0MBtNK0+hph8rMfIgffSbK2PT4NFeBvU2tpZokaQBU6okMipTiRNaDir+YhvXjWjXXHH0Zbo9p/Rhp3F8YnoOmHFMaHidEHRnft4blfvykR2/zMIbKovQtCNNwcSBwkg0byhQTHWyjE3A/JHwGB+GDBKtGC3F05JvgkqP0D6MKI3hpKLC5I2lXlUK1GuYg==
Check your broker. Looks like it was reported to the DTCC and filtered out to brokers but not updated on the OTC Market.
Anyone have any thoughts on the name change to GNCC CAP INC COM NEW?
I believe a name change requires a CUSIP change...
Anyone notice the name change???
Etrade is listing it as GNCC CAP INC COM NEW as opposed to GNCC CAPITAL INC.
Does L2 show a 100 million trade? Volume just jumped.
What's the L2 at?
Just called Madison Stock Transfer Inc. Everything is the same as listed on OTC Markets.
And you have confirmed this where? Please stop posting misinformation. It is one thing to provide an argument based on facts and another to blatantly make stuff up. You have zero credibility when you do this.
http://www.otcmarkets.com/stock/GNCP/company-info
Share Structure
Market Value1 $1,249,826 a/o Feb 06, 2014
Shares Outstanding 6,249,132,134 a/o Jan 12, 2014
Float 3,050,101,749 a/o Jan 24, 2014
Authorized Shares 10,000,000,000 a/o Oct 31, 2013
Par Value 0.00001
Officially Appointed Raymond Harris
http://ih.advfn.com/p.php?pid=nmona&article=60956834
GNCC Capital, Inc. (OTC:GNCP) has appointed Raymond Harris as a Consulting Geologist with immediate effect.
Mr. Harris will be initially responsible for three of the Company’s Exploration Properties, “Ester Basin, Silverfields and Potts Mountain”.
The Company has optioned two additional but geographically compatible exploration property groups in the same vicinity as “Ester Basin, Silverfields and Potts Mountain”. Mr. Harris will also assume responsibility for the due diligence and reporting on these two additional properties. The Company will release details on the two optioned properties once Mr. Harris has completed his due diligence and submitted his recommendations to Management.
The Company will publish the Interim Reports on “Ester Basin, Silverfields and Potts Mountain” once prepared by Raymond Harris. Mr. Harris has will be commencing his on-site review of these and the two additional exploration properties optioned.
The Company’s other Consulting Geologist, Craig Parkinson, is responsible for the Company’s “Kit Carson, Burnt Well and Clara” Exploration Properties. In addition, Mr. Parkinson will be assuming immediate responsibility for the Company’s “White Hills” Gold Exploration Property following the inability of our previous Consulting Geologist to commence his duties on “White Hills”.
The Company will be publishing the Interim Reports on “Clara, Burnt Well and Kit Carson” which are now being finalized by Craig Parkinson. Mr. Parkinson has completed his on-site reviews of those properties.
The Company has published the resumes of both Raymond Harris and of Craig Parkinson on the OTC Markets as Supplemental Information Filings this morning. These Filings can be accessed here:
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=116042
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=116045
Is everyone so far removed and disgusted to realize this is news? Haven't we been waiting for the Geologist's resumes and the name of the second geologist?
RESUME OF COMPANY CONSULTING GEOLOGIST – RAYMOND C HARRIS
EDUCATION:
B.S., Geology: Oregon State University, Corvallis, Oregon.
M.S., Geology: University of Arizona, Tucson, Arizona.
LICENSE:
Arizona Registered Geologist #45426
EXPERIENCE:
Independent Geologist, Feb 2007 to present.
- Underground geologic mapping and sampling; Logging, XRF testing, and assay sampling of drill core (approximately 30,000 feet): Carbonate replacement silver deposit, West Texas.
- Logging, XRF testing, and assay sampling of drill core (approximately 24,000 feet): Copper skarn deposit in southern Arizona.
- Gold exploration drilling project: northern Washington.
- Geologic mapping in porphyry copper district, Ely, Nevada.
- Geochemical sampling; Preparation of Plan of Operations for drilling project: Oro Blanco gold district, southern Arizona.
- Geologic mapping and sampling for gold exploration project: Arequipa, Peru.
- Mapping of geologic hazards (earth fissures and giant desiccation cracks) in Arizona.
- Third-party review of consultants’ reports.
Research Geologist, Arizona Geological Survey, Tucson, April 1993 to Feb 2007.
- Conducted research of stratigraphy, aquifer characteristics, and depth to bedrock in Arizona’s deep alluvial basins to determine groundwater resources on State Trust Land.
- Coordinator of AZGS Center for Land Subsidence and Earth Fissure Information (CLASEFI). Mapped distribution of earth fissures in Arizona.
- Mapped distribution of giant desiccation cracks related to drought in Arizona.
- Investigated geologic controls on water quality in the upper Gila River watershed through the use of isotopes as tracers.
- Managed project plugging and abandoning 1920s oil exploration well near Safford, Graham County, Arizona.
- Surveyed parts of Arizona for uranium and radon for US Environmental Protection Agency’s Indoor Radon Program.
- Investigated occurrences of asbestos in Arizona.
- Investigated distribution of salt-karst features on Colorado Plateau in Arizona.
Hydrogeologist, PRA Group, Hayward, California.
- Conducted Environmental Site Assessments (phase I and II).
- Designed and installed monitoring wells for hazardous waste sites and major landfills; conducted site characterization study for proposed landfill in Riverside County, including logging core.
Exploration Geologist, Gold Fields Mining Company, Reno, Nevada.
Grassroots mineral exploration in Nevada and Washington; extensive geochemical sampling; resource assessments of submitted properties; logged drill cuttings and core.
Geologist, U.S. Bureau of Mines, Tucson, Arizona.
Conducted Minerals Resource Assessment of Coronado National Forest for U.S. Forest Service; extensive geochemical sampling of mineralized areas; detailed mapping and sampling of surface and underground mine workings; researched claim ownership.
Intern, Arizona State Mine Inspector, Abandoned Mines Program, Tucson, Arizona.
Surveyed areas for abandoned mine hazards; Researched land status and claim ownership history.
Exploration Geologist, Phelps Dodge Corporation, Tucson, Arizona.
Mineral exploration project involving detachment-fault related gold mineralization in western Arizona.
AWARDS:-
Geological Society of America: John C. Frye Award for outstanding publication in the field of environmental geology, 2004. (Lead author of A Home Buyer’s Guide to Geologic Hazards in Arizona, Arizona Geological Survey Down-to-Earth 13, published 2002.)
Especially with the bid support we have now. If this truly is a scam we will get a PR stating GNCP is entering the pot business. Plenty of other companies "aggressively pursuing" licensing to grow, distribute and sell pot.
One word...Pot. I sent Ted an email to think about converting one of the mines to a pot field. No response yet.
3/4 of a billion shares if they all flipped to the ask.
From what was posted in the past and contacting FINRA/SEc the 100 share bidwhacks are not illegal. At least not the way they are doing it. As long as they stay within a point above or below the current PPS they are legal. It becomes illegal when they try to drive the price down by selling 100 share lots 2 points or more below the current PPS. At least that is how I understood what was posted on this board within the last month.
Where is Tob at? Have him email Ted and mention putting MJ in one of his next PRs...