Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
My understanding is the monies invested in the preferred is already earning 3 to 4% per month on factoring contracts. The company subsidiary is one of the more lucrative parts of the business in my opinion. The revenues that post at the end of the month will come from the acquisition of the real estate firm. I'm also waiting on a close of a $50 mil construction loan that I believe will net the company approx $400,000.
I meant to press 30 but just a guess, earnings will come out simultaneously, before you trash earnings I'm looking for a big revenue # and positive cash flow. You'll never see a positive earnings until that 2 mil dollar judgement is off the books. IMO if they show positive revs that's a good starting point.
Yeah iconic and BCP went over 5%. I'm looking for a reverse in the next 39 days .....IMO
Who is THEY?
Yeah I'm taking a hit also , the IR dept said there working on some type of dividend for shareholders if they end up doing a reverse. I'm sure the company didn't expect to go zero bid. I'm signing off but will call there tomorrow and find out more info. Have a good night
Hey I didn't realize how much debt they had . I was wrong. Won't be the last time. I'll sit back and wait for earnings and see how it plays out. I just don't see any other way out other than a reverse. There must be 700mm shares out there
18.25% when my IRA did squat. I like the monthly income also. Say what you want to say about the company they haven't missed a payment yet! KD is right they have no choice but to do a reverse. With the debentures selling and trashing stock and now zero bid no choice . My guess is 30 to 50k reverse to get stock to $3 to $5 and qualify for NYSE. Numbers will show acquisitions and positive cash flow on the few construction loans that have been closed. Good luck to all I am looking forward to the earnings report at the end of the month
KD Allison paid $300k and the wall brothers invested $75k both were par value. 10k and earnings report due end of month
Thanks bro
S1 released
Time will tell, until then it's 73 degrees outside heading to the beach. Enjoy your weekend boys!!
Believe me I have but certain things are considered inside information and you just have to have trust in the company. I can tell you good things are happening though
I'm hearing it's being worked on and near completion. What a lot of investors don't realize is the SEC could careless what the stock price of OCFN is . As long as they report and keep up there filings they'll be fine. I'm really looking forward to the 10k hoping it comes before the quarter ends.
I would love to average but got so much stock in going to wait for an update or release of S1 or 10k. Buying another 10mm shares would cost 4k which I'd rather pay 2k ;)
Well if you don't own any I guess you have nothing to worry about!:)
2 much cash coming in
I get my 18.25% no matter what till 2020 . I'm just pausing on the common until the selling pressure subsides
I never changed my mind just thought debentures would be gone by now. I know who the seller is can't image who the 20mm share bid buyer is. I'm just pausing until I get more clarity.
Not yet waiting on debentures to go away , I figure why buy if there just going to beat it down. Probably going to wait or 10k to come out
My average cost is .0009 I have not added YET waiting to see if it gets hit again
Yes butt ugly
Don't think you got scammed. If a company is paying a 18% dividend they must be exciting something right. Let's see how this all unfolds.
Hey I'm down just like you. I assumed the debentures would run out. I guess I was wrong. I don't get emotional. I've loss before and probably will lose again. Let's hope this sucker bounces!!
Shit it may hit .0001 tomorrow
Ta me to guess that's what investing is . Sometimes you have to buy and hold.
I believe everyone is a big boy and should do there due diligence before investing. I'm a believer in the future of the company so if they own it down here put it in the safe and check on it next year. I'm sure they'll do very well
Oh well high risk high reward right?!
True the debentures could smack it lower but at some point it won't be worth it and will probably settle if an offer is made. Let's see if the new OCFN can execute their new business plan. Time will tell. In the meantime I'll collect my monthly dividend check.
Let's see how the 10 k reads in March
The company sitting on a lot of cash from preferred no bankruptcy
First of all I've always said the stock could go lower as long as the debentures keep selling. Hell it can't go down much more. It doesn't effect my preferred investment so it really doesn't matter to me
In due time my friend.
The debt financing was for a few years ago. Some judgements against them also. Remember guys in 2008 the whole commercial finance industry went in the toliet. OCFN was apart of that. It's a miracle they have survived. Let's look forward to a bright future.
The buyback has barely started only 15mm shares and the seller are convertible debentures. Where the hell ya been son?
Yes I would assume once a deal is made with the remainder debentures. The preferred offering has done better than expected so this is going to get quite exciting
The best post I've read since I've been on this board . OCFN will be on NYSE and I for one will remind everyone the days when you could of picked up shares under a penny!!!
Your still talking past history look at the future and the new financials smh
Hey jerky Ocfn makes money off origination fees usually 3% of loan then through relationships through other lenders they get the loan done. (For a fee of course) don't talk about the lending business when you obviously have no experience in it. There factoring business is also taking off.