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http://object.cato.org/sites/cato.org/files/serials/files/regulation/2008/2/v31n1-6.pdf
Nevermind. I should just research before I ask questions.
What do you think that means for the upcoming week?
Is share buying time really already over? Hopefully we can get one more dip.
Uncle Sam may be the real winner in this whenever people sell. Im going to owe a crap load in taxes!
Not a bad problem.
Lasers. Are you a billionaire yet? Having two stocks go off in the same week!!!
Any one know if we got an institution or hedge fund? This is a lot of volume.
That would be great to know. Could add a lot of validity to a 1billion dollar current valuation.
NEW PR. Success!!! This is going to run huge today.
There production cost, capacity, and turnover look to be improving. I like that for future growth prospects.
I like this being under the radar for now, and if the shares have been sold and were sitting at .3 this stock has a ton of room to run on good news.
I love how quite this board has been. With all of the developments waiting I would think you would have the usual "pumping" going on.
NASDAQ Listing Requirements for All Companies
Each company must have a minimum of 1,250,000 publicly-traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more then 10% of the company. In addition, the regular bid price at time of listing must be $4, and there must be at least three market makers for the stock. However, a company may qualify under a closing price alternative of $3 or $2 if the company meets varying reequirements. Each listing firm is also required to follow Nasdaq corporate governance rules 4350, 4351 and 4360. Companies must also have at least 450 round lot (100 shares) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.
In addition to these requirements, companies must meet all of the criteria under at least one of the following standards.
Listing Standard No. 1
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no one year in the prior three years can have a net loss.
Listing Standard No. 2
The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. In addition, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.
Listing Standard No. 3
Companies can be removed from the cash flow requirement of Standard No. 2 if the average market capitalization over the past 12 months is at least $850 million, and revenues over the prior fiscal year are at least $90 million.
A company has three ways to get listed on the Nasdaq, depending on the underlying fundamentals of the company. If a company does not meet certain criteria, such as the operating income minimum, it has to make it up with larger minimum amounts in another area like revenue. This helps to improve the quality of companies listed on the exchange.
It doesn't end there. After a company gets listed on the market, it must maintain certain standards to continue trading. Failure to meet the specifications set out by the stock exchange will result in its delisting. Falling below the minimum required share price, or market capitalization, is one of the major factors triggering a delisting. Again, the exact details of delisting depend on the exchange.
This is a copy and paste but I found this interesting! Thought someone else might as well.
I hope no one was dumb enough to by at .004 and above!
What a bad scam. Usually you can at least make moeny on these things!
Why is the 8-k not on ihub?
STOP LOSS, MMs, or Company is no good. Doesnt really matter. There is not going to be a spike. There are 6 BILLION O/S shares.
LMAO thats the market cap of the company. To be paid to management. They are crooks!
Slammed how. Stock has barley moved.
8k and no price movement! Cause no one cares about this POS stock.
I could make that website in 30 min
SELL YOUR SHARES
Im trying to get some cheap ones before news this week and its not hitting my limit.
No, because its in an apartment. Google map the address listed. Not a real company. Not one company mentioned as a partner even has a website. If it looks fake it probably is.
Could a percentage of the 395 preferred shares be sold to Epic and BOD at the .07 cost basis giving them a steep discount and protection from anything done with common shares?
Your right about the dilution. That's how I read it as well. With NH having so many shares a dilution on that level would hurt his pocket too. I would think there is a plan here.
Great post!!!
Great post!!!
BREAKDOWN
So paying the 10.6 mil in debt off with 105 preferred shares * $100,000 a share / .07 basis given is 150,000,000 shares to pay off the debt and give the debtor voting rights. Which looks like companies they like having in interest in the business anyway, and this was expected per their early execution option.
That leaves 395 preferred shares at $100,000 share / .07 unless other wise specified. That's just over 550 mil shares. Which is close (but not quite) half of the company if diluted.
2 options I see.
1. Sell half the company to a strategic partner while maintaining control.
2. Dilute the shares to raise money for R&D because they are not turning enough of a profit to finish development.
8K Breakdown
Elite is paying off 10.6 mil in debt with 105 preferred shares * $100,000 per share / .07 cost basis. That is giving 150 million shares to pay off debt and giving voting rights. This is an early execution of an agreement already put into place. It also gives voting rights to people that Elite wanted to have voting rights.
That leaves 395 more preferred shares * $100,000 a share / .07 cost basis (unless specified differently) or around 560 million shares. This is around 40% of the company and would have voting rights.
I only see 2 options:
1. The plan on using these shares to acquire a strategic partner while still maintaining control of the company.
2. They are going to dilute the shares outstanding to raise equity because they are having trouble coming up with R&D funds to finish projects. I don't think this is the case due to the CEO being paid in shares, but you never know.
Its just not fun seeing anyone lose hard in cash on a scam.
I may be wrong but did they retire 10 mil in debt with 5 mil in shares? I really believe the debtors value the shares much more then the debt.
No argument : ). Doesn't change this being back to .0001 in a month.
If there is any doubt the company is real than its not. LMFAO. I feel bad for the bagholders when this is done.
You all know this isn't a real company right? Its the let me get my friends in this stock then drop b/s news to make a few bucks.
Why so much resistance at .0040? Should be through that by now.