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What’s even more questionable is they did a name change on the same amendment that was apparently processed and the correct name is shown at OTCM, however not the authorized share increase.
To answer your question, Yes, they have a verified profile and TA is reporting 5B shares authorized.
They also report the same number on their financial disclosures.
I should mention that they ended up in a forward merger couple of months after these corporate amendments, and a couple months later smack dab in middle of an FBI investigation.
I remembered an article I read some years ago about a couple of cases where there was a conflict of interest with FINRA and state level actions, which makes your post spot on as there’s indeed now a conflict since the increase was never reversed/unwound 3 years ago at the state level.
https://securities-law-blog.com/2015/03/10/sec-supports-finras-rule-6490-authority-corporate-actions/
https://securities-law-blog.com/2014/09/30/reverse-split-effective/
FINRA’s exercise of its power under Rule 6490 to refuse to effectuate a corporate action, such as a reverse split or name change, can lead to a discrepancy between a change that has been legally effectuated on the state level through board and shareholder approval and the filing of amended articles of incorporation and that which appears on the OTC Markets trading platform and any other quotation source that publishes such quotes (such as Yahoo and Bloomberg).
Further exacerbating the conflict between the application of state and federal law is the fact that FINRA requires that a Company submit the file-stamped amendments to its corporate charter as part of their review process. Simply stated, the FINRA corporate action process requires that a Company legally complete the corporate action (reverse split, name change, etc.) on the state level prior to issuing a determination as to whether it will process the already-completed change with the marketplace.
A company whose corporate action has been denied by FINRA following state law processing has the ability to reverse the action through additional board and shareholder consents and additional state filings. However, what happens when shareholder consents to reverse the action cannot be obtained? What if the shareholders at large hold the controlling interest and refuse to vote in favor of a reversal of the action?
Where shareholder consents cannot be obtained to reverse the action, a company can make full public disclosure of the discrepancy and the investing public would be acting at its own peril in making investing decisions regarding that issuer. ECOS did just that, filing an 8-K that took a strong stance against FINRA, stating that pricing information published by FINRA is inaccurate.
Clearly it is problematic when state and federal rules and regulations cause a conflicting result, leaving a board of directors, shareholders and the investing public in a state of flux. As an attorney the clear potential for an ongoing discrepancy between legally effectuated facts, such as a name change or change of domicile, and that which is published on the OTC Markets is troublesome and should be addressed by either FINRA, the SEC or both.
So, what you’re saying is they never submitted the increase to FINRA to be processed? It would probably fall under FINRA rule 6490 with corporate actions (not quite sure re: AS), so could it also mean that it could’ve been rejected? I’ve never seen an authorized share increase not follow suit with the state.
Since the state recognizes them with 10B shares, and are trading under the assumption of 5B shares as a public company — does the state level amendment stand since these are vastly contradictory numbers? Who overrides whom?
Thanks.
Janice, can you or someone make sense of this… an OTC company amends their articles at the state level to change their name and double their authorized shares with Secretary of State in 2020, yet the amended share increase is not reflected three years later at OTCM or with transfer agent. How is this possible when there are no subsequent amendments at the state?
Has anyone got an update on their account? If there was a divi distribution it should’ve appeared by yesterday close of market.
If someone has a low average, then I can see how it would be irrelevant. Let the traders bring it up and start scaling out into momentum before the dump.
However, if people have high averages, then they’re facing quite a daunting uphill battle without fundamentals to support price action.
Hopefully you’re in the former camp.
If you’re familiar with technicals, this would be a good time to start looking for levels on the 5/yr chart and devise a exit strategy depending on the price action at the time, because if you’re only depending on traders, then that’s where they’re looking with a very small window of opportunity.
Good luck to you.
This is when you can tell what a company is made of at its core. At its foundation CATV has proven to be nothing more than a share selling instrument for CEO and his partners.
Meanwhile, a company with no revenue or existing operations for well over a year (other than selling shares) shows G&A accounted for and increased to ~$136,000 of the -$210,762 in loss of income for the quarter. How does G&A increase without a revenue generating operation?
I would be dumping into every one of these promo’s.
It’s as good as it’ll get.
~150M more shares were diluted. It appears the TA updated the shares twice for this cycle where an additional ~100M were added since their previous report a week earlier.
At this rate they’re not far from being forced by TA to increase the AS for reserve.
Les, I’ve been doing some studying on the amended rule as it pertains to CF and here is what I’ve learned:
Reg-CF is governed under SEC rules, however this isn’t a SEC reporting company since they filed a form-15, so under the 2021 new rules there was an amendment made to the rule where it’s, what I consider, a loophole to bypass the catch-all rules that applies to majority of issuers, therefore their reporting status is “SEC Reporting CF”.
Don’t be fooled by the ”SEC reporting” CF part — it’s very misleading — per the rule, as far as the SEC is concerned their only concern is that the form-C meets requirements and is filed and amended correctly.
That’s why there has been no 8k’s filed, where normally a corporate action would be announced on a 8-k and followed by an information statement (14C). They have no other reporting requirements to the SEC beyond the Form-C. Per my conversation with OTCM, they’re also trading with an undisclosed quote bc they’re not eligible for proprietary quotes, therefore the OTC flag.
Having said that, regardless of their status, all corporate actions for OTC issuers still has to be processed through FINRA, and there’s no record of it as being reported on the daily list.
If we take their own PR regarding the Divi distribution at face value, then it should’ve appeared on the list on April 10th (10 days prior to record date being April, 20th).
I’m hesitant to say one way or another as Reg-CF is a puzzle to me at this point that I’m starting to unravel, but I’m sure you’d agree they would’ve pumped this up with a series of PR’s leading up to today. Which makes me lean in the ‘not happening’ side of the spectrum, but for sake of argument if Reg-CF filers are immune from FINRA guidelines (I’ve found nothing to support this), then shares should for sure appear in the brokerage accounts by Tuesday or Wednesday at latest.
Nevertheless, it’s a good case study to see if it goes through absent advance FINRA disclosure to the public.
As far as issuing new shares, they’re not beholden to SEC guidelines since they’re no longer an SEC registrant.
He apparently produced the following films — funded with conversion of toxic shares (guessing one of few producers for each film).
The Opposite Sex (2014)
The 50 Year Argument (2014)
Almost Mercy (2015)
Bleed for This (2016)
Man in Red Bandana (2017)
Angel of Mine (2019)
Blackbird (2019)
Blackbird has A-list cast members… The rest is meh, but still with some recognizable B-list cast members.
My girlfriend said we watched Blackbird during the pandemic, but heck if I remember. It must’ve been one of those — I can’t take anymore garbage films, so just pretend you’re watching.
Yes, I sort of recall something was off with that interview.
Here’s his wiki page: https://en.wikipedia.org/wiki/Joshua_Sason
Joshua Sason is an American entrepreneur, investor, and entertainment producer. He is the founder and chief executive officer of Magna, a global investment firm based in New York City
I don’t see a scheduled divi listed at FINRA. Who knows, maybe another ruse.
Oh, he’s a blast from the past. I remember his Hanover days with relentless dilution decimating everything in their sight.
Isn’t he also a Hollywood movie producer? I remember he was on the cover of some magazine back in the day in a puff piece article. Maybe it was his brother? I think I’ve blocked it out lol.
I ran a network test and is working fine and worth noting is that it happens at multiple locations.
I don’t have any issues with accessing ihub with my device browser — no errors or browser crash, but the app is getting worse. As I mentioned to Homebrew about multiple attempts to open the app but it crashes, and it happened again trying to get to your response.
I won’t be on here much today, but will try to gather some screenshots when I get back on. In the meantime I’ll do a hard reset and log out of the app and see if it makes a difference.
Thank you!
Dave, the app is really buggy in the last couple of days. All sorts of strange error messages with reading boards and posting, and outright crashing.
Idk if you all are working on the back end on something, but the errors are all over the place. I thought it was a brief glitch, but it’s on day 3, so I’ll start to screenshot as I come across them if that helps.
Les, I don’t know if it’ll happen. There’s no record of a ex-date, record-date, or payment date at FINRA.
TX, I’m really glad you posted this. Good job!
It casts an entirely different light on Feldenkrais’ level of participation and motive in the private chat than what has been portrayed.
It’s nice to have a detailed account of both sides of the story.
I’m going to come back to this when I have a bit more time a little later…thank you!
As far as I can tell, and the research we all shared here some time ago, including Stars and Yafah as well as others — seems to all support the same conclusion that 99% of those pump PRs relating to multiple operating subsidiaries worth millions, severely exaggerated rev projections, selling pod containers to himself, plus smaller assertions like hiring a full auditing firm, name change, etc. were all works of fiction.
I think what you mean when referencing Marquis, is he was trying to shake down Adar Bays. That’s where the shake down assertion was made — in their case file.
Meanwhile, debt is piling up while I think there’s only a couple hundred bucks in the bank?
In light of everything, If I was a SH I’d be screaming from the rooftops for Feldenkrais to cancel the rest of those preferred B shares owed to him and his associates. It’s a scam that they’re not only defending, but allowing him to get away with diluting their shares even further.
Stars, I appreciate the insight. I won’t speak for anyone else, or betray confidence with specifics, so I’m speaking in general terms.
For sake of transparency, I have a long time personal contact at OTCM that tries to provide me with insight, but very much goes in a round and about way and has never given me a direct answer in regards to an issuer, and I find myself basically needing a decoder ring to figure out what he’s getting at lol. It’s truly a funny relationship…it’s a love hate kinda thing — I think he puts up with me because I’m persistent and I’ve demonstrated that I have a pretty good understanding of the subject matter, so he tolerates me and in turn gets a kick outta sending me down a complex maze to find my answer… It’s quite a dynamic haha.
So, I know for a fact how difficult it is to get information out of them, and it’s a type of relationship that for me took a lot of finesse to nurture, and you have to prove that you know what you’re talking about, and not some newbie wasting their time. You have to know how to pose questions, and what questions to stay away from for sake of preserving the relationship.
If someone found a back door, then bravo! It’s not out of the question if one is presenting themselves as someone else, sometimes you do get lucky. Is it ethical? I’d say not really, but it’s not like the OTC is some bastion of fairness and ethics. Ethics is lead by example — however with CATV the fish stinks from the head, and therefore, in this case it appears one felt they were being mislead and took matters into their own hands.
I’m empathetic to SHs that find themselves in a position of vulnerability, and feel entirely deceived, with funds on the line to boot, then I can see why one would resort to alternative measures to find answers. It’s not like an everyday occurrence where OTC investors find themselves in middle of an FBI investigation.
I will let his post speak for itself…..If one feels for sake of total transparency to share the details of their findings to validate and support their assertion regarding Feldenkrais misleading SHs regarding CE (or other info), and let the chips fall where they may — as some will naturally dispute, and others will support, but regardless there’s a silent majority that would appreciate clarity.
As they say…
Sunlight is the best disinfectant.
Janice, I finally got in. Phew!! Lol…
On my device browser, I logged out of iHub, closed and opened a new window - logged back in and went to the PlusOne link under settings, and there it was.
If you’re on your Mac, then try logging out and quitting out of the browser (not just closing the window) and starting over. See if that works.
Yup. A step forward without two back is a positive for all intents and purposes. I’d still like to know what took a month to resolve. These are the questions I’d be asking in the group. You might as well put it into good use and press and get as much info outta him as you can…lol
Stars, I appreciate you taking the time to share this, and no, I would never judge without having a complete picture, and honestly my judgement is exclusive to Feldenkrais. I’m in no position to judge other peoples decisions with their money. Whether there’s a lesson here to be learned, it has to be on individual terms.
My preliminary assessment came from recently learning from at least two people in a short period of time (GTC and now TX), and previously in a PMs from another member, and I think it was last year someone else that was booted from the chat early on for challenging the spin about the case and Feldenkrais’ involvement, as it was portrayed in these instances to be a rah rah group.
I didn’t put any emphasis on it because it’s inconsequential (except what TX noted with OTCM intrigued me).
I’ve been in many of these types of groups and know the dynamic collectively doesn’t often mesh. Imo in most of these groups folks are there for validation of their own decisions, which unfortunately they get so tangled up in the lie that it often leads to their financial demise.
I’ve witnessed firsthand folks offer thoughtful and well researched due diligence, yet get pounced on because it’s not on the same wavelength and challenges the collective’s core beliefs, so this not a foreign concept as it’s readily seen on social media, message boards and groups. On a side note, for the exception of one or two, this board is very good with keeping it respectful. I get what you’re saying with group chat having a basic concept of TOS, it would be a hell site without it, I’m sure.
I’ve only ever been in one chat group that instead of coddling one viewpoint or another, positive or negative, it nurtured free expression (politely and concise) to serve the greater good — which was helping each other strategize trades by free flow of ideas to challenge a preconceived notion of a long or short bias, and gain fresh perspective on the contrarian viewpoint — instead of stagnation.
For some reason I assumed Feldenkrais checked out of this group (s) (multiple groups at some point; pre, post CE?) when things got messy, that it would look shady when you’re a CEO of company embroiled in a criminal scandal. This is what’s concerning. This is the only thing, the very idea of it, is what I’m judging — the very fact that he’s still there is worth questioning. As much as the members have a direct line to the CEO, he’s there for his own selfish and unethical reasons — to keep a close eye on the chatter, because he is, for the most part lazy.
From my personal experience, the type of CEOs that are ongoing member of a private chat, for lack of a better word, are frankly shady, because this is not an ethical way of serving shareholders and there’s an ulterior selfish motive. Why else would he be there? As a matter of fact, he’s doing no one any favors by communicating only to a couple dozen people. You might say he barely says anything or participates, but it’s still selectively only engaging in his safe space.
A simple question that maybe next time you can ask him: why are you here?
Here’s a good example that you can relate to: I was in two groups back in the day with execs in the big case — one with CFO and another with CEO. They were there not to share anything of substance, but to keep an eye on the chatter. As soon as someone would post something alarming there, then one of them would be in a DM to us asking “wtf is that all about”. “Do you know this person? Where is he getting the information?” Within a day or two max there would be a PR trying to calm the masses before the rumor got traction, which eventually all turned out to be true. They use these groups to stay one step ahead, and by carefully crafting PRs to fit the narrative or dispel whatever negativity is circulating, or to spin away from what may be factual. This is why his mere presence, as a frequent participant or not — is shady!
So, I learned Feldenkrais is still in this chat by a post here referencing what would’ve normally been disclosed in a PR — about the account being locked in request for a NOBO list. The mention of NOBO list made no sense to me. I felt like a schmuck looking everywhere for a PR (LOL) — until someone mentioned it’s on Stocktwits,, and thanks to someone else who clarified that it’s not a PR but a screenshot posted on ST from the chat group. And then I realized you were a member and figured, heck let’s ask Feldenkrais some questions.
In conclusion, nowadays there are multiple ways of communicating with shareholders that isn’t questionable, and yet transparent. Definitely not a private chat on Telegram!
By this time, nearly two years later he could’ve made a huge contribution by opting to be transparent, yet he chose to be a member of this private group.
As I’ve mentioned before, he could’ve been using his corporate Twitter account (SEC approves) at a time when it wouldn’t have been perceived as pumping the price because no one could buy, rather it would’ve been building trust, r instead of utilizing it only when he needs to manipulate the narrative or price. He could’ve held a quarterly Twitter Space where everyone could’ve participate and ask questions, but he didn’t.
He’s done none of that! Besides the most important aspect which would’ve been working his ass off on plan B, C, D, to show he’s doing something, anything at all — which judging by the financials in the past year or more he hasn’t been doing much of anything, except racking up debt.
He didn’t do a lot of simple things that would’ve changed how he’s perceived, by being open and participating in an open dialogue with all of his shareholders about the good and bad, not even having to be specific by a disclaimer that he won’t answer questions regarding the case — what could it have hurt?
How much do you think that Twitter account is going to get used when it only matters to him? I’m willing to bet if/when that CE comes off SHs will be buying more bogus subsidiaries that will have to be pumped to support 1.5B (not counting SHs exit) overhang that is sitting on sidelines ready to be dumped.
Imagine for a moment, how spending a year and ten months changing hearts and minds, showing transparency, discussing a possibility of a plan C, when A and B failed rather quickly, addressing the many valid concerns (besides involvement with Svorai) posed here as to their viability, how this gesture would’ve affected trust and stability of future performance, especially when you have minimum 40% of the OS ready to gtfo. Imagine…
On the other hand I can see why this would’ve been a very bad idea for someone with too much baggage and a ton of shady shit to cover-up, but that’s the point I’m trying to make……he couldn’t come out of that private chat long enough to save his own proverbial ass. So he’s bunkered down in there with people fighting his battles for him.
There’s nothing admirable about this guy — nothing that exudes a shred of legitimacy, except he has managed to emphasize every negative bias out there, with double emphasis on the shady OTC CEO stereotype.
—————
I only wish you and everyone stuck for two years the best outcome. You of all people deserve it brother
I saw a post earlier with a bunch of emoji’s so I assumed desktop is able to. I know I can’t on my device and I’m rarely on ihub on a desktop. Idk if it works on a device browser, but let’s find out: ?????????????
??????? ???????
That puts it to rest… If you can’t access it, then none of us can.
I start here:
https://ih.advfn.com/common/plusonecoin/showcase
and when I click on “wallet”, I end up at the link you provided.
How were you finally able to get to your wallet?
I’ve tried a couple of different browsers on my iPad and can’t access my wallet. I get the same page when I click on the wallet button from PlusOne page. I wonder if we have to access it on a desktop?
Dave, on a lighter note — we have the ability to use emoji’s on the desktop now? When did this happen? That’s how much I pay attention to anything beyond words Lol…
is there any updates planed as to the ability to use them on the app? I’m assuming copy/paste on the app also returns a double question mark ? ?
Tomorrow, Friday’s between 4-5 pm eastern is what they call happy hour, and private messages are open to everyone. I have a reminder set and will send you a PM :)
Wow — What a coup! I’m totally impressed…I rarely come across people that think outside the box.
What you managed to achieve was extraordinary, and that group chose to ignore the value of the inside track you had successfully crafted— I’m just baffled by this mindset.
I would love to hear more on your research.
You got a member follow from me.
You’re the second person I’ve heard of that got kicked out of this private chat because they posed valid questions or objections.
Was this pre or post CE group?
Stars, hopefully I can keep this response shorter than last one :)
Hey Stars. Let me see if I can shed more light, in particular why feds didn’t go after Feldenkrais and why would Feldenkrais go along with Svorai when he stood to convert billions of shares just with his agreement.
Let’s start here:
I’m going to provide my opinion to your inquiry in parts, which btw is a very good post with good points and questions.
I just have a few minutes before I have to run out to a dinner meeting, but this is a good informative discussion to be had and I will for sure get back to the details by tomorrow.
So, some background on financial crimes…here’s the horrible fact with almost all of these form-15 filers that get snagged in an investigation — because of the fact that these are penny stocks with investors averaging a couple hundred dollars on the line, and the crimes are predominantly carried out by third parties and considered market manipulators — a PnD crew if you will, without the ability to tie these schemes directly to the person in charge, then they huff and puff about “protecting the public”, but all they care about is halting the progress of the alleged crime, and focus on seizures of tangible assets tracked through the sale of those securities. Cash, bank accounts, properties, cars, boats, jewelry etc., which if you refer to the “introduction” section of the affidavit it was also for a certain bank account.
OTC is rife with shady shit that overwhelmingly goes unchecked just because of the sheer volume of this type of behavior. Especially with form-15 fillers that have ZERO oversight except from OTCM which is not a regulatory agency, but only a marketplace facilitator who is technically just trying to protect themselves and their bottom line under the guise of protecting you, then you can imagine how investigators would have to pick their battles very strategically. There just isn’t the resources necessary to go after even small portion of OTC scammers.
That’s the frightening fact with our current financial regulatory system. No one is truly protecting you or me or any investors.
If there wasn’t multi-million dollars on the line, they would’ve never pursued Svorai. When you start looking at involvement by a couple dozen people, half a dozen pubco’s, brokers, PnD crew, family members, nominees, money laundering, dual citizens, overseas brokers, etc. then red flags go up.
Feldenkrais may be dirty, but he’s not worth the resources, because they really couldn’t give a shit what happens to OTC investors. They consider them gambling fools that deserve to lose their money because they should know better, and not worth a second thought. Alarms only go off when there’s a substantial and questionable rise in market cap and trading volume. That’s what raises red flags where there’s millions on the line, and the dots basically connect themselves, and therefore an easy target for an indictment.
Y’all have to go into every trade with first asking when and in how many ways am I going to get F’d. That’s the truth. Forget about the lofty predictions. Those people touting ridiculous pps goals will burry you. If you’re looking for any agency to come shut it down it’s not going to happen. Don’t forget, it was our research that exposed both cases. No agency came out with a news release or flashing lights to warn folks they were in danger and smack dab in the middle of a federal investigation and they should wight their options before it got worse (CE).
Unless you’re in an exchange traded ticker with a huge MC and high profile names, no one is going to send out a flare, and it’s generally via short reports revealing some unsavory shit. In fact you’ll probably get more warnings on OTC from people like me, and following some research groups and asking questions, than exchange tickers, which has their own share of dirty scoundrels, except any SEC warnings don’t show up on Edgars up to and until regulators get pissed off enough to release the communication to the public — by that time the price is probably in a free fall. The system is rigged against a typical (OTC) investor in more ways than you can imagine.
I’ll follow up tomorrow for sure.
Cheers
Shhh, Janice. Don’t ruin all the fun for us reading about the rumors of “mergers and acquisitions” lol.
Oh, joy :)
Thanks, Renee.
OTC “investors” are going to have a field day with $FRC in a couple of weeks lol.