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I think there is a few things going on.
1. There was great hope/speculation before the announcement of the r/m and the r/s, and now that the price seems to be rising, people are hoping/speculating that it will continue to shoot up.
2. As of now, if those 87m shares are NOT outstanding, there should really only be about 1m shares outstanding, which would mean the whole market cap of the company is like 7m, which would obviously be very low.
3. Obviously, though, if the 87m shares are issued and hit the market, that will dilute it like crazy... but there is (I believe in the minds of a lot of people on this board - NOT me) hope that the shares issued to Moreno will be treated as having been part of the split (and will also be divided by 200 so as to not totally dilute the market) or that the 87m shares won't be given at all or something?
4. It seems like the r/s shares are still not able to be traded in people's brokerage accounts, which means no one is able to SELL any of the rshares they owned pre-split. People can only BUY then sell the shares if they want to trade these last few days. Not being able to sell any of the shares owned pre-split obviously helps the SP. It also begs the question - where are the shares coming from that ARE being traded?
Are you guys saying the pre R/S shares you own are now shown in your brokerage account as having split? Mine (in Schwab) still hasn't changed from the pre R/S share amount to the 1/200 amount. Which I'm assuming will mean I still can't sell? (unless it changes on Monday).
lunchtime lag like a few weeks ago before the next big pop?
does anyone else want to retire tomorrow and meet me for a beer in the morning? YEESH
WHAT IS HAPPENING ask is at 8.50 right now?!?!?!
ohman i am kicking myself for not buying more this morning...
hha. this stock is officially out of control right now.
Is this correct? - Currently people can buy and sell shares, but people who owned shares before the reverse split can't sell THOSE shares without calling their brokers and essentially short selling them?
If this is the case, what are the shares that ARE being bought today?
Right - when I talk about this stuff I'm not really talking about the next few days, weeks, etc.
It's the actual high of .16 x 200 due to the reverse split.
It's kind of funny because when I first started following VKML the 52-week high was even higher than that... then I realized it was just the value of the stock after the prior R/S.
Weird - with the 87m shares, though, doesn't Moreno owne the company and therefore could just fire the board? ha! (or at least not re-elect them?) Who the heck is the board anyways?
Can someone repost or sticky the statement? Where was the statement actually posted or filed by the company? Thanks
Okay - I just spoke to schwab. They still have not heard anything in regards to when the new shares will come in.
HOWEVER, the guy I spoke with today made it seem like it is NOT that strange that they haven't heard anything yet (the first guy I spoke with gave me the impression it was weird). The guy today said that because it is an OTC stock, sometimes it can take up to a couple of weeks.
I think the problem though is that no one can really trade the stock while it is in this limbo. However (and I assume this is the case with all brokers) Schwab will allow me to call them and sell the stock now if I want, but if they don't get the newly issued stock from the company by the time my sale settles, I would need to go out into the market and buy the shares for Schwab, then they would credit me back whatever the shares are selling at when they do eventhually receive the newly issued shares. It's basically like a short sale but with an ADDITIONAL twist.
So I think if you want to sell shares, you can call your broker and have them do it, but the risk would be that they don't receive the newly issued shares in the company, and when you go to buy back the shares before the settlement date - if they're a lot more expensive than when you sold them, you'd lose money. (but of course if it's lower, it's better)
arlier that I thought the shares were restricted for 2 years, but that was because I was on my phone and was not looking at the agreement. baomike pointed out that I was actually talking about the restriction on the stock to not be part of any reserve splits for two years.
Is that what you are thinking of as well? Or did you see (and I just don't remember) that there is also a two year restriction on the sale of the stock?
same with Schwab. I spoke to them Tuesday and they explained to me that essentially what happens is that the old shares are just "deleted" and then the new shares are "delivered" by the company. However, Schwab (and presumably E-Trade, others, etc.) have not received the new shares yet AND haven't been told by the company when to expect the new shares (which the guy on the phone told me is unusual). He told me to call back and check in to see if they have received an update. I haven't done that but I'll do it today and post what they say.
We kept equal value with the R/S, yes, but not when they then issued the 87 million shares to Indie Growers owners. That completely destroys the value of our shares.
right on that 2 year thing. I knew there was something in the agreement re: the 2 years that proved something people on the board were saying wouldn't happen.
Last night I was thinking that it was preventing Moreno from dumping his stock, but it turns out that it was just the proof that his shares wouldn't be reversed split.
What will be interesting to watch is if he eventually sells all his shares, and then (I assume) whoever buys those shares also won't be subject to any reverse splits, so the company will need to wait 2 years to do this again...? I'll be looking out in 2 years-ish from now (if I remember) and maybe scooping up some .004/shares. ha
And in regards to morenos ownership, he owned indie, and now the present company, but we don't know that he owned vkml. And it was vkml that did the reserve split. So my point was that vkml no longer exists and it was vkml that did the traverse split. Moreno could now do a regular split or something with indie but what good would that do because he already owns practically all of the company. It would be the same thing just different share numbers for everyone. That's what my point was.
Baomike- I'm pretty sure I read the same thing in the actual agreement. I thought I read that the shares are restricted for 2 years. I'm on my phone right now and can't find that actual filing (just the press releases, articles, etc). But I definitely remember reading that.
Also just so you know, you're not the only one doing dd. ha.
Guys... come on.
You think they're communicating through ihub? via a video sent to the buddy of someone who posts on ihub?
You think they're going to give up "$300+ million" because people are mad?
You think they're really worth $300 million? All they have is shares that they can't sell (according to the agreement) for another 2 years. Who in the world would give them $300 million for Indie Growers? No one even knows anything about it.
My opinion is that they are going to sit on the shares and wait for 2 years, pump, dump. Just like last time.
Oh, right, one more thing... THE PEOPLE SAYING THIS IN THE VIDEO AND POSTING ON IHUB DON'T EVEN OWN ALL THE SHARES. THE MAJORITY OWNER OF VIKING MINERALS DECIDED TO DO A REVERSE SPLIT. YOU THINK JOHN MORENO CAN JUST DECIDE THAT VIKING MINERALS IS GOING TO REVERSE THE REVERSE? VIKING MINERALS DOESN'T EVEN EXIST ANYMORE AND MORENO DIDN'T OWN IT ANYWAYS?!?!
Guys don't mess with this. Just don't grasp at things while holding on to a pipe dream
All IMHO of course.
I think Finkle is Einhorn.
Wait - so instead of putting it on the website, or sending out a press release, the company decided to send a video to you buddy to let the shareholders know they are working on a solution? And that "we"/your buddy can email with any questions but then didn't provide an email address in the video?
And they're giving the SHAREHOLDERS a deadline in order to ask questions?!?! Ha! Technically it's the shareholders' company!
This is awesome.
I'm confused did Moreno send that video to JUST your buddy?
"coming to you from one of my hotel rooms" haha. I hope this guy is being honest because he's pretty funny.
e basically asking him to give up 98% of this company. no WAY that is going to happen. Why on earth would he do that?
I hate to say it but this has ALREADY HAPPENED multiple times with VKML. It seems to me like people on this forum think maybe they did the transaction this way by accident? I would be shocked if they didn't realize what they were doing...
This istru because of the "simultaneous" HUGE share offering to Indie Growers.
A reverse split CAN be something that isn't bad (if you own 1,000 shs at $1 then those shares do a 100:1 reverse split and now you have 10 shs worth $100 it's basically the same thing). SOMETIMES this is done to increase the value of the stock to make it more attractive to potential purchasers, and sometimes it is done to uplist to a major exchange because they require minimum pps levels.
HOWEVER, when it's done coupled with a HUGE share issuance AFTER THE RESERVE SPLIT, previous shareholders typically get completely hosed.
Ya it seems ike he didn't own anything. People on this board just keep talking like he did - maybe don't understand the difference between officer/shareholder or maybe they just saw all the headlines?
Either way, funny enough, it seems like the bid/ask is moving up.
did I miss something showing that Robert Coleridge was the owner of something? I know he was the Officer of everything, but do we actually know that he was ever a shareholder of ANYTHING?
ha - I tthe agreement was that whoever owned indie can't sell their shares for 2 years...
Ha - are you guys able to trade? I just called Schwab and they don't have an anticipation date from the company about when Schwab will receive the news shares, so if I were to try to sell them now I'd essentially be doing a short sale and would need to cover in the next 3 days if Schwab doesn't hear anything new about the anticipation date for receiving the new shares. haha.
is there still no volume? or are my brokers not showing correctly?
having trouble with my shares... I can't find vkmld (only vkml) and the shares I own just show up as a cusip number... any thoughts?
ha - I didn't realize the market had closed...
why is the ask climbing so much?
I would say I was one of the few sending out warnings signs in addition to Baomike (but not nearly as many) and I also did own it during the rise simply as a trade.
I think I will try to get in a tiny little bit this afternoon just to play the action tomorrow/the next few days. if it starts tanking, I'll get rid of it immediately.
Honestly, I think it will come back... In two years when they people who own Indie can sell their shares - then there will be another pump on big news that drives the price up, then we'll get info about a reverse split, etc.
All my opinion, but honestly I think I might just buy and hold for a long time when this dust settles just to see if anything happens (again). I would only get back in this though if it gets down to half a penny or something.
Where is Quick18?!?!?!?!
baomike
Good to see you're still around... out of curiosity, what stocks do you hold? If you don't mind me asking?
I thought they filed documents to try to do a 200:1 split and then also give the owners of Indie 86m shares which would dilute the entire previous outstanding shareholder's ownership to 1m shares while someone who owns Indie gets 86million plus $185,000?
It's kind of like when all of the sudden Robert Coleridge (a computer guy) became president, treasurer, etc etc of three different companies. VKML hadn't merged with anyone yet but just the filing of the documents was enough to pump this company up.
Now that it has happened, and NEW documents are filed you're choosing to IGNORE the filing of documents? Before it was the sole thing you used to pump this up... Again it seems like people that are non stop cheering this company are completely ignoring anything bad.
GREAT POST