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Edison tried thousands of filaments to get the light bulb to work.
In nearly two years, Adrian has never tried to produce a product, and he already had the recipes and the money to produce them and still, he did not try.
No home run ever happened when a batter stays seated in the dugout.
Keep in mind that these are not the shares getting dumped into the market today.
Unless they find an exemption to Rule 144, those brand new shares must ripen for 12 months before they can be converted to unrestricted shares and sold.
The massive amount of shares that you have seen dumped into the market in the last week are shares that Adrian created a year ago. There is a pipeline of dilution that Adrian filled during his first year in control of the company, and he keeps the front end of the pipeline stuffed constantly to make sure that shareholders constantly get dumped on by the back end of the dilution pipeline.
Even if Adrian stopped the dilution today by not creating any more new shares, the shares that ripened would would still be dumping into the market for another year.
We will need a minimum of another year of massive buying before the pipeline of 1s gets empty, and that would only be true if Adrian stopped the dilution today.
If you ever talk to Adrian, he loves to say that there is a lot in the pipeline. Now, you know what he means!
New things do not result in different outcomes from previous outcomes if new behaviors do not accompany the new things.
If Adrian would actually EXECUTE a complete business plan, that would be a great start... but he won't. Why do I know this? Because I have been complaining for nearly two years that he does not stay focused on one thing long enough to execute a plan. When I combine that repeated behavior from Adrian with the fact that I know that he flat out lied to us, I can only conclude that he is just another Pinkie lying scam artist.
If he doesn't want people to think that, then he should change his behavior.
If he wanted to gain very quick trust before the results of his change in behavior became evident, he could simply call a meeting of all of his noteholders, and tell them that there is going to be a one week moratorium on noteholders dumping shares. He would tell them that either they agree to that or else he will not do any more press releases that would pump the company.
Just give the shareholders and prospective shareholders ONE WEEK with no dumping by noteholders, and we would run the PPS up over $0.0010, and we would have no problem with the noteholders dumping into that much higher PPS once we got the chance to take some profits.
I would happily buy back into such an arrangement.
Unfortunately, Adrian and the noteholders are short-sighted and too greedy to ever do such a thing.
This is payback for Adrian wasting so many hours of MY time over the last two years as we gave him the benefit of the doubt too many times because we wanted to see the relaunch of the energy drinks be successful.
The reason for rehashing old news is that it clearly shows the character of the CEO. I have no problem acknowledging the new direction that the company is taking. Our running joke was that Adrian, who calls himself as "turnaround expert" was actually an expert at turning around toward yet another business proposition continually. Too bad he could never stick with one thing long enough so that it might be viable that it could become successful. Oh, but then that would involve Adrian doing actual work, and as the old news piles up to demonstrate, actual work is something that is just not in Adrian's character.
As usual, Adrian tries to create buzz without substance that makes any logical sense.
In the PR, Adrian states, "The ultimate goal is to put Bitcoin ATM machines next to every Bank ATM machine throughout the country."
QUESTION: Where are bank ATM machines located?
ANSWER: Bank ATM machines are located on bank property.
Bank ATMs are built into the side of bank buildings.
Bank ATMs are bolted to the ground in drive-thru lanes.
Bank ATMs are even bolted to the ground just outside of bank buildings.
Do you really think that banks are going to allow their property to be cluttered with other people's ATM machines?
More importantly, do you really think that banks are going make their customers less secure by attracting more people near their ATM machines who are not bank ATM users?
There is ZERO possibility that banks are going to allow non-bank ATMs on their property.
Let's look at what functionality that Adrian claims the Bitcoin ATM machines will have. The PR says, "These machines will give the user the ability to both buy and sell bitcoin, and conduct monetary transactions, to both receive and dispense cash."
So, to simplify, the Bitcoin ATMs will perform the following functions:
1) allow users to buy Bitcoins, 2) allow users to sell Bitcoins, 3) accept cash from users to deposit into their virtual wallet, 4) dispense cash to users from their virtual wallet.
No additional hardware, such as a completely separate ATM machine, is required to perform any of these functions where a abnk ATM already exists.
With a simple software upgrade, any bank ATM machine could be modified to perform all of these functions, and more.
A bank ATM could be modified to access servers which allow buying and selling of Bitcoins.
A bank ATM could be interfaced with virtual wallets to allow depositing and retrieval of cash out of a virtual wallet, and ATMs already have the hardware necessary to accept and dispense cash.
Further, a bank ATM could provide an additional service of allowing users to transfer cash between their bank accounts and their virtual wallets which is something Bitcoin ATM machines cannot do.
If Adrian was going to supply banks with a software module that could be integrated into existing bank ATMs, he would have something viable. However, that is not what he is pitching.
If Adrian had stated that the ultimate goal was placing Bitcoin ATMs inside of convenience stores, like 7-11, or gas stations, or strip clubs, and any other place where independent (non-bank) ATMs are placed, then he might have something that is believable.
Instead, because he specifically stated that the goal is to place the Bitcoin ATMs next to bank ATMs, you know that either he is lying, or else he is too incompetent to understand what a viable business model is.
Further, except for ATM machines located in a bank's outer lobby, where are bank ATM machines located? The answer is that they are located outdoors, or in locations that are facing outdoors. Therefore, they must be weatherproof.
If you actually look at the ATM machine which Adrian plans to distribute, as shown on the Bitcoin Depot web site (https://www.bitcoindepot.com/blog), it is clearly a device intended to be kept indoors out of the weather. Further, it is a device that is not large, heavy or difficult to remove. That means that it must be placed in locations that are always monitored by a live person, like inside of a convenience store.
There is no possibility those Bitcoin ATM machines could be placed outside next to a bank ATM machine. They would be rendered inoperable as soon as they were rained, sleeted or snowed upon, and criminals would steal them within days of their placement to gain access to the cash inside.
Oh... but wait... there is more...
Because the Bitcoin ATMs use a consumables (ie: printer paper, ink, and cash), they have to be regularly serviced. Guess who will NOT service the Bitcoin ATM machines? The correct answer would be convenience store clerks who work in the buildings where Bitcoin ATM machines are placed. That means that Adrian must find someone who will service the Bitcoin ATM machines where they are placed at least a couple times every week. We know that it will not be Adrian running all over the country doing that.
So, what Adrian might really do is sell licenses to other people to service the Bitcoin ATM machines, and they would receive a cut for their work.
If that is the case, where does DNA provide any value to the equation? Anyone can already go directly to Bitcoin and host a Bitcoin ATM machine:
That's right folks... what Adrian is going to do is try to get $300 for each machine that he can get placed inside of a suitable retail establishment... assuming that Adrian has any intention of following through with doing some actual work which we all know that he will not.
Adrian's press release states that, "DNA Brands Inc. (OTC PINK: DNAX) is pleased to announce that the company has closed a distribution agreement with Bitcoindepot.com." Just by contacting Bitcoin Depot and getting them to sign an agreement that says what their web site already says about their referral program available to everyone, Adrian got to stay legal when he wrote a press release that says that DNA now has a distribution agreement for Bitcoin ATM machines.
Adrian does not actually have to follow through on placing any Bitcoin ATM machines. He just needed to truthfully be able to say that he has a distribution agreement in case he wanted to place any Bitcoin ATM machines. There is no follow through required and he gets what he wants which is the ability to use the word "Bitcoin" in a press release.
That is a prime example of how Adrian works... so now, all of the Bitcoin blinded newbies to DNAX have a perfect example of what everyone who has been here for years have been trying to tell you.
Not only does the transfer agent have the complete set of numbers for the share structure, but except for the A/S, the transfer agent is the authoritative source of the numbers for the share structure. They actually tell Adrian what the correct numbers are.
For the A/S, the authoritative source is the Secretary of State of the state in which the company was incorporated. For DNA Brands, Inc., that state is Colorado.
The reason that the transfer agent will not provide the share structure, including the float, is because they are gagged. The previous CEO gagged the transfer agent, and Adrian has not changed that arrangement.
If Adrian wanted people to know what the correct float is, he could fix this, but he does not want people to know.
When we asked Adrian about this he made the excuse that DNA owes money to the transfer agent so they will not do things for the company until the transfer agent gets paid.
Clearly, this is a complete lie because it is the transfer agent who issues shares of new stock to whoever DNA wants to receive them. It is also the transfer agent who converts restricted shares of stock into unrestricted shares of stock. The transfer agent has never, in the last two years, had any problem performing these functions to support Adrian's continuous dilution machine.
Think about it carefully. If the transfer agent really had any problem with DNA not paying the proper fees to the transfer agent, do you think they would continue to distribute new stock on behalf of DNA?
Do you really think the transfer agent would continue to convert restricted shares to unrestricted shares knowing that there was money being made from that but the transfer agent was not getting its cut?
No... Bloody... Way...
The reason, and the only reason, that you cannot determine what the actual correct size of the float is would be that Adrian does not want people to know. If they did learn how big the float actually is, they would not want to purchase any more dilution, and Adrian cannot afford to tolerate anything that would threaten his dilution machine.
DNAX was an OTCQB stock until 2013 when the new rule that went into effect automatically downgraded it to OTC Pink.
That rule says that if any OTCQB or OTCQX stock does not have a PPS of at least one penny during one day in each calendar month, it is automatically downgraded to OTC Pink.
If you do, you will notice that I was supportive of Adrian when I posted that. Check the post date. What happened between now and then? I have told you what happened in my latest set of posts and you will notice how intensely I am not the only one here saying the same things.
We were there. We watched what Adrain did. Based on that, we know what he will do.
You will be fortunate to leave later with all of your money minus broker's commissions. You will be less fortunate if an adverse action occurs first.
Either way, the dilution will never stop and your chances of getting profit out of this bloated ticker is almost none.
Filing for bankruptcy was going to be necessary to eliminate the debts held by the noteholders.
This was true because DNA Brands defaulted on their loans (as was planned by both Adrian and the noteholders when the loans were originated).
Per standard procedure when dealing with toxic loans, when the loan is in default, the financiers receive corporate stock with a market value equal to the value of the loan PLUS they receive corporate stock equal to the value of the penalty imposed for defaulting on the loan. This penalty is typically between the full value of the loan, and three times the full value of the loan.
Therefore, in tbe case of DNAX, with a market value of $0.0001, the financiers receive corporate stock at an effective cost of between $0.000025 and $0.000050 per share.
This is all pretty standard for financing in the world of OTC penny stocks.
The problem is that the noteholders expect to be able to actually sell their DNAX stock, and they get grumpy if they cannot.
So, apparently the note holders planned to take some type of action which would not be good for Adrian, so he planned to file for Chapter 11 bankruptcy protection to get the bankruptcy court to wipe out the debts held by the noteholders.
The reason why the noteholders could not sell their shares is that enough people realized that Adrian is a lying con artist that they refused to purchase any more of his delution. That left DNAX at zero volume for extended periods of time as trading in the ticker effectively came to a halt. Adrian had run out of ideas for new lies that people might believe, so he released no new news that anyone cared about.
However, Adrian has obviously seen how popular cryptocurrency stocks have become and he found a way to pitch DNA Brands as a company operating in that sector. Because people like you believed his latest lies, they bought DNAX stock. Therefore, Adrian's problem of having his note holders being able to sell their discounted shares at the market price of $0.0001 (which provides them a profit between 100% and 300%) is solved. Therefore, a bankruptcy filing is no longer necessary.
Before, I found as much genuine information as possible and I attempted to make intelligent extrapolations from there.
I had been willing give Adrian a huge amount of latitude because by using the energy drink recipes, he had the ability to build a real business. Finally, it became too glaringly obvious that Adrian had no intention of ever building a legitimate business.
In April of 2016, he adamantly stated that the energy drinks would be to market by "early 3rd quarter" of 2016.
Then, that became 4th quarter.
Then, he claimed to have the Letter of Intent (LOI) to sell the energy drink recipes so he could buy some other business. One was a plan that wanted to use coffee beans as a energy source or some such silliness.
Then, he went back to idea of producing the energy drinks.
By the end of 2016, he said he would have energy drinks ready to sell by April of 2017. He started PRing every little detail, like he was redesigning the can graphics. Given that level of sharing details, you would have thought he would have been anxious to share news that he had ordered empty cans or energy drink recipe ingredients. February, March and April came and went and he never mentioned having ordered anything necessary to produce energy drinks.
Then, he pushed the date out to May, but still had not ordered anything to allow a bottler to construct cans of energy drink.
By May, he was telling us that he was leak testing cans and reformulating the recipes. The existing cans did not leak and there was no reason to reformulate the energy drink recipes. He was just stalling for more time to sell more new shares.
At some point, only a fool would not realize that Adrian has no interest to building a legitimate business. When that became painfully obvious, it became appropriate to expose him for the con artist that he is.
Newbie... you just got here, so obviously you don't know that Adam has been here for years. He was one of the last holdouts who believed that Adrian might not be a con artist. However, even Adam has seen Adrian flat out lie to the shareholders so many times that he finally has come realize that Adrian only has one product, and that is to scam people into buying more dilutive shares. As long as Adrian controls DNA Brands, it will never produce anything to add shareholder value. However, it will continue to produce unending dilution that will not allow this ticker to take off, regardless of how many shares you buy.
Those of us who have been here since before February of 2016 have been down this road with Adrian before. There is some hype from Adrian to drive volume up to ridiculous levels, but the PPS barely budges, and in the end, it stays at $0.0001 and once Adrian's financiers have finished the latest round of selling off their shares at $0.0001, the volume crashes back to zero again for weeks or months at a time until Adrian can dream up some other lie to publicize. Most of them fall flat, but sometimes, he comes up with a good whopper and people think it could be real just enough to buy into enough to spike the volume again... for a day or three... but the PPS never does more than tickle $0.0002 with a sprinkle of shares at that price.
Then, it is back to $0.0001 and no bid and very little volume with no volume many days.
When the share structure is bloated beyond belief, and that CEO is determined never to get too close to the actual work of growing a business in case some might accidentally touch him, and the dilution continues, the financiers never see any reason to wait when the discounted shares they get from their loan defaults become unrestricted. So, the dilution continues unchecked, and there is always a one year pipeline of soon-to-be-sold restricted shares by the billions. That pipeline dumps its refuse all over silly people who buy them at $0.0001... always at $0.0001.
Yes, Adrian loves to tell shareholders that there is much in the pipeline, and what he really means is that there are the billions of restricted shares in the pipeline from the last year's worth of dilution that financiers will want to sell once they convert to unrestricted. See, what got sold last week is from dilution that Adrian did this time last year... back when the O/S was billions lower.
Yup... ancillary services would be about right for Adrian. Any time he can stand next to something without actually performing, that is Adrian's preferred choice. When you are just an accessory to the main deal, no one expects much from you.
Did QBID have billions of shares of continued dilution no matter how many are purchased? When Adrian took over control of DNA in February of 2016, the O/S was 6 billion shares. In less than 2 years, Adrian has tripled the O/S to over 18 billion.
During that time, Adrian specifically told us several times that he was doing specific actions to reboot the business, and for nearly two years, he lied about every one of those actions. It was not just that he tried and failed; it is that he only provided some appearances that he was going to take action but never did... not once.
Did QBID have any useful actions toward building profits? Did QBID ever produce anything useful? Did QBID ever release news that provided verifiable information about legitimate execution of business plans?
For nearly two years, the only thing Adrian has done is choose words for PRs that were selected to deceive and misdirect. He held conference calls where he provided specific dates when products would be brought to market, then he never even ordered components to construct those products. Repeatedly, he told us that he was going to peruse a line of business only to take no action in that direction, and instead tell us weeks or months later he was going to persue a completely different line of business.
The last set of lies was when he told us he would have energy drinks ready to sell last May, but never ordered any ingredients to produce the energy drinks. In May, he told us that he was performing leak testing. There was nothing wrong with the previous cans. I still have four unopened cans of DNA energy drinks from 2013. The cans are not leaking. Then, Adrian told us he was reformulaing the energy drink recipes. There was no reason for that, and it was another lie. He was stalling for more time to be able to dilute with more shares before he had to show any results.
If you are looking for any significant news to be coming, there won't be any because Adrian never takes any actions that are significant or will result in significant progress. He will release news, but it will always be fluffy. unverifiable news. He is a lying con artist who has a two year track record of nothing but cheating and deceit. If he can take action to sell more shares, he will... unless that action involves any of the actual work involved with building a business.
You can read my detailed sticky nite where you can see that I was willing then to support Adrian. We gave him all kinds of unearned patience and support, and he returned the favor by screwing us every single time. You can count on the fact that if you don't lose your money put into DNA, it will be a long time before you can recover it once the trading volume dries up again. If you think this was the first time over a billion shares traded and the PPS stayed at $0.0001, go look at the volume history.
In your mind, what exactly would that mean? What actions would DNA have to do to successfully enter the cryptocurrency sector?
Bonus question: Seeing that cryptocurrency companies create their own form of money, if Adrian really wanted to create a cryptocurrency company, why does he need to sell shares of stock for dollars? Couldn't he just use the new money that his company creates?
Have you noticed that actual cryptocurrency companies issue Initial Coin Offerings (ICOs) to raise capital to start their businesses, and to specifically avoid government regulation like what a publicly traded corporation like DNA Brands must observe?
The financiers are going to receive 2-4x shares for the money to make sure they receive interest (profit) on their loans even if they have to sell at $0.0001 (which of course they do).
You do understand that this was at zero volume for a long time, right?
You do understand how no volume meant that the note holders had no opportunity to recover their money by selling their new, dilutive shares, right?
You do understand that recently Adrian stated that he was probably going to have DNA Brands file for Chapter 11 bankruptcy because it would allow Adrian to zero out the debts owed to the noteholders, right?
You do understand how the natural response from noteholders to such posturing by Adrian would be sell their shares at any price as fast as possible, right?
OTC stock prices actually go all the way down to $0.000001 but retail brokers only support trading down to $0.0001.
If the market price happened to be $0.00001 when someone places a MARKET buy order instead of a LIMIT (at $0.0001) buy order, they could see their order filled at $0.00001.
If you were lucky enough for this to happen to you, you should sell with a LIMIT order (at $0.0001) ASAP. There is no possibility you will get a better deal here than 10x your money!
You just don't understand. The note holders will never run out of 1's because Adrian will sell them more discounted below $0.0001.
Even now after a week of nearly 6 billion shares traded, Adrian has another 6.6 billion shares of headspace before he reaches the current A/S.
If Adrian manages somehow to con another buyers to absorb those shares, he will just raise the A/S again to 30, 40 or 50 billion shares. As long as buyers keep buying 1's, he will keep cranking out more indefinitely...
...and there will never be any actual revenue because Adrian has no intention of conducting any actual business activities.
The only way this will ever stop is if people wise up and and stop buying shares of DNAX, or if the SEC finds reason to halt the ticker.
No, not too shabby. I am sure that not just anyone could have physically presented the award to Mrs. Al-Hajjaj lime that. Maybe, it was like heavy and stuff...
I expect that we will see a PR from Adrian shortly stating that DNA Brands has begun exchanging Bitcoin.
What he really means is that Adrian will have opened an account on a Bitcoin exchange, and Adrian spent $100 USD to purchase a partial Bitcoin so that he can claim that DNA Brands has officially entered the cryptocurrency sector.
Oh? Please elaborate. Where did you get the information that FINRA will not approve reverse splits? I am not arguing that you are incorrect. I just want to learn more.
It is almost certain that Adrian has been holding off on a reverse split because some insider shareholders (ie: Mel and company) are holding large amounts of common stock, and they are unwilling to allow Adrian to reverse split their positions to oblivion. However, at some point, Adrian will have find a way to pasify them by offering something of value in exchange for their shares of common stock.
When Adrian figures out how slip that move past government regulators and not get caught for insider trading or stock fraud in the process, he will execute an immediate reverse split.
The current O/S is above 18 billion into an A/S of 25 billion. Continued dilution is not going to remain a viable path. He has to reverse split eventually... if the SEC does not halt the ticker first.
Pretend you are Ullman, and the CEO of a publicly traded corporation comes to you and says that he has been trying to reboot a corporation that he acquired and that corporation currently has no revenue. The CEO says that he believes the cryptocurrency sector may be a good fit for his corporation and he wants to learn more. The CEO says he would like to pay Ullman for a small bit of his time to consult with the CEO about how it might be possible to proceed into that sector. Ullman agrees and talks to the CEO for an hour to explain what the cryptocurrency sector is, how it works, and the steps that an outside corporation can take to enter the sector.
When they are done, the CEO thanks Ullman for his time, tells him that the CEO will have to consider what he has learned, and compare it against what he believes his corporation could do to decide if it is the right fit. The CEO says that if he decides to move forward into the cryptocurrency sector, he will be in touch again to discuss additional consulting by Ullman.
This would be one of thousands of legitimate consulting meetings that happen everyday, and there would be no reason is believe that there was any scamming involved. Ullman is completely satisfied that the meeting seemed legitimate and that is the end of it.
The CEO never contacts Ullman again, but he does release a PR stating that he has hired Ullman which is true. What the PR does not discuss is how long Ullman's services were retained, and if Ullman is still consulting for the company. The CEO can even mention that he looks forward to working with Ullman in the future although the CEO never actually does.
A scamming CEO like Adrian knows how to appear legitimate to people with whom he needs to connect to obtain what he needs. He also is an expert at stating information in a PR which is designed to cause prospective investors to jump to the incorrect conclusion which will motivate them to part with their cash.
Sorry if you just got suckered by Adrian this past week, but if you purchased DNAX, all you have done is sign up to be the latest STUCKholder. If you manage to extract your money back out of this scam, it may be years before you manage to get it back. You can forget any profit. Over 5.4 billion shares of DNAX stock was traded in only 2 days and the PPS could not stay above $0.0001. If that was not enough trading volume to force a run on PPS, how do you think even more than 5.4 billion shares could ever get traded in such a short period of time?
Selling your shares as soon as possible at $0.0001 is your only hope to ever obtain any of your cash again. With an O/S of over 18 billion, just how much longer do you think Adrian can hold off on a reverse split?
Do you understand that if someone (like Adrian) hires a consultant (like Ullman) for one hour, and only one hour, of his time to receive advise about how DNA Brands could enter the cryptocurrency sector, then he can legally claim in a PR that he has hired the consultant?
There is no requirement for retaining a consultant. One can hire a consultant at any time, and then opt to not retain the consultant's services for any additional time.
If Ullman agreed to do ANY paid consultation for Adrian, and why wouldn't he if Adrian presented his corporation as a valid prospective new client, then Adrian can publicize that fact... and he has.
Ullman does not even have to like or agree with his name being used as bait to sell more dilution of DNAX stock. If Ullman consulted for DNA even a small bit (like just giving Adrian a brief overview of what is possible in the cryptocurrency sector), Adrian can publicize that he hired Ullman as a consultant. Of course, Adrian has zero intention of following up on Ullman's advice. Adrian is an expert at only one thing: standing next to something to create an illusion that he is actually working on it.
Adrian took over DNA Brands in February of 2016, and for nearly two years, the only thing he has done is make false promises about plans he is going to execute when the only thing he ever executes with completion is dilution of more shares of DNAX.
Anybody else find it comical that Adrian "hires" someone whose background is in cloud seeding (aka: producing atmospheric water) to act like an expert about cryptocurrency?
Adrian could have built a real business using the energy drink recipes, but that would have required actual work, salesmenship, and persistence, and Adrian has zero interest in any of that.
No, what likely happened after the creditors would not play ball under threat of bankruptcy is that Adrian said, "Just wait a minute while I run this cryptocurrency scam. You will be able to sell off billions of your discounted shares at $0.0001 in just a couple of days. All I have to do is pay somebody that the fools think is an crypto expert for a hour of his time to consult with me about how DNA could enter the crypto sector."
Of course, Adrian won't actually enter the crypto sector, but if he stands next to it to give a vague appearance that DNA is entering the crypto sector, he can enable his creditors to sell billions of shares. Later, the creditors will give Adrian a fresh stack of cash, and Adrian will give the creditors a fresh stack of brand new shares that they can sell during Adrian's next scam.
The filing did not say there would be a bankruptcy filing. It just said that there may have to be because the creditors would not play ball.
I suspect the whole thing was a tactic to scare the creditors into renegotiating better terms. If the company filed for Chapter 11, the debt owed to the creditors would be completely zeroed out. That fact gives Adrian negotiating leverage.