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.
Market Managers | Money Managers | Money Makers
Market makers compete for customer order flows by displaying buy and sell quotations for a guaranteed number of shares. The difference between the price at which a market maker is willing to buy a security and the price at which the firm is willing to sell it is called the market maker spread. Because each market maker can either buy or sell a stock at any given time, the spread represents the market maker's profit on each trade. Once an order is received, the market maker immediately sells from its own inventory or seeks an offsetting order. There can be anywhere from four to 40 (or more) market makers for a particular stock depending on the average daily volume. The market makers play an important role in the secondary market as catalysts, particularly for enhancing stock liquidity and, therefore, for promoting long-term growth in the market.
Market makers must maintain continuous two-sided quotes (bid and ask) within a predefined spread. A market is created when the designated market maker quotes bids and offers over a period of time. They ensure there is a buyer for every sell order and a seller for every buy order at any time.
Once the market maker has entered a price, he or she is obligated to either buy or sell at least 1,000 securities at that advertised price. Once the market maker has either bought or sold these shares, he or she may then "leave the market" and enter a new bid or ask price to make a profit on the previous trade.
For example, let's say that a market maker has entered a sell order for Microsoft (MSFT) and the bid/ask is $65.25/$65.30. The market maker can try to sell shares of MSFT at $65.30. If this is what the market maker chooses to do, he or she can then turn around and enter a bid order to buy shares in MSFT. The market maker can bid higher or lower than the current bid of $65.25. If he or she enters a bid at $65.26 then a new market is created (referred to as making a market) because that bid price is now the best bid. If the market maker attracts a seller at the new bid price of $65.26 then he or she has successfully "made the spread." The market maker sold 1,000 shares at $65.30 and bought these shares back at $65.26. As a result, the market maker made $40 (1,000 shares x $0.04) on the difference between the two transactions. This might not seem like much, but doing this repeatedly with larger order sizes can provide lucrative profits. All day long market makers do this, providing liquidity to individual and institutional investors. The major risk for the market maker is the time lapse between the two transactions; the faster he or she can make the spread the more money the market maker has the potential to make.
However, making money from the differences in bid and ask prices is not the only function of market makers. Their first priority is to provide liquidity to their own firm's clients, for which they will receive a commission. They may also facilitate trading for other brokerage firms, which is very similar to the duties of a specialist.
It should also be noted that market makers are required by law to give customers the best bid or ask price for each market order transaction. This ensures a fair and reasonable two-sided market. If these regulations were not in place, customers' profits would be gouged and share prices would be much more volatile than they already are.
One thing I've learned is you gotta do what you gotta do
If I focused on my failures, I would never take the next chance, at doing what ever I have to do to make it work.
Whatever these people have going you can bet they have their act together.
None of this is a 'new rodeo' for either of them. They are by far ignorant to financing, startups and management. In fact quite the contrary. As you seem to know well.
See, 'it' would be better off for 'them' to simply give up and face the fiscal consequences IF they had any plans to not follow this through.
It could be, that Marilu has absolutely huge deals to fill, and requires significant financing to fill. And with the seeming explosion of retail doors they are in at the moment, this idea would appear valid.
Top that, with there is no feasible way this 'spaghetti' plate of companies, financing, debt, mergers and the likes, would be done for the simple sake of creative financing. Sure, if I look at some of the past items the current CEO has done, and focus on that, I'll see all bad. At the same time, there is a LOT going on here that has not been disclosed to us yet. Point is, this is a LOT to juggle, without faltering, that takes dedication, and teamwork, many people working to achieve the same thing. Liquidity.
So, is this a hail Mary? Pun intended. Maybe. Or is this a culmination of brilliant financial minds, utilizing the tools they have at hand or entrepreneurs grabbing opportunities and running with them.
I never thought for one moment anyone would bother to check that out.
Kudo's to you!
So who is ERBB merging with?
What other explanation could there be.
Although that float can easily allow for a rocket!
Float 4,990,988 a/o Nov 16, 2015
This thing needs to hit trips again if it's expected to move at all in 2016
When it moves it's gonna be a sustained move super slow with a sheep ton of volume.
Ya, but fun while it lasts, it's all we can do, is have a bit of banana money from their toils at the books.
Maybe that WAS the news this year
Now we wait until late 2016 to get the full picture, BTZO going out of business?
Well if someone cancels their order, does the broker still buy shares? Doubtful.
You've got a great point there I think shareholders could do good by understanding.
These are by far NADAQ tickers, where public opinion can mean a billion dollar valuation difference on any given day. These are people (for the most part) doing no more than playing the numbers game.
Now with BTZO, they have something, is it viable? I suppose, but that falls in the public sector along side of what fashion is for the day. Not at all a cake walk. Everyone must eat. Shareholders of tickers such as this, are at the absolute end of the line, if even or ever on the mind of the line.
Maybe. Soon as that gap fills over on gers
*see what happens now? I forget what board I'm on Oo
Won't be long before we know if were having the cake, or just eating 'it'.
Still! Not enough information. The good 'stuff' has not even been released as of yet.
If nothing else, we can all eat cake together {btzo/gers wanderers}
Could be. At the same time, if this is true, this completely nullifies any sense of intelligent business handling on BTZO's side. They will not only lose everything, but will likely find themselves entranced within the court system for the next 3-5 years instead of drawing up new ways to find means to eat.
Sorry but I have no inclination what 'shareholders value' is in the OTC, unless there is volume, and more so, slow dumping to allow for a flip during said volume.
If I want value, I'll go play bluechips for that time when I can no longer see the screen, yet still want to smush my old lady into the sand whilst chugging a half frozen rum concoction.
Thats what I'm screaming!
It's obvious to me the brilliance in the numbers game, I mean seriously.
At the same time will this move equate to shareholders ability to play? As said, we shall see.
No evidence of what? Creative accounting that could cause a splashdown hard enough to make waves that shareholders can play?
I have no illusions as to what I am playing with here in pinky land, nothing can be done about what they do in their works on my end, it's a numbers game nothing more, that I attempt to get on the right side of the trade and walk away, not having to deal with whatever shenanigans might happen to come down the line on their end.
Apparently gers + btzo with compiled resources, obtained the ability to gather more debt.
For what purpose is the question. The few million they have procured does not come close to fixing any current situations either company has.
Therefore it can only be said there is a larger plan than to just RS and dilute for peanuts. That is all I am suggesting here.
Can't rule out a huge RS can we
If they do, they'll be forced to do two this year alone. Nullify current shareholders immediately (so they cannot impact PPS on a PR run) by one 1000:1 Q1 , short the turds out of the ticker back to ~.0009 , raise the A/S to 10 billion, start a PR campaign in late Q2 and the second RS of 500:1 Q4 bringing the PPS in the ~.10 range before what comes next?
Maybe. If so, which company survives?
This is what your saying right? A company that does nothing slurps up a company that does do something, and dissolves it only to take on more debt that cannot be repaid, leaving both companies with huge debt.
No, I think not this way, read the filing? They have a ~year or shares start converting. At what .0000001 from now with a 1000:1? Impossible to pay even 1% of that this way.
Were missing a few key pieces here yet.
Free shares! Anyone?
Buy now before the next reverse split, so you can 'free' up some shares.
Malarky, I fail to grasp these designers would render their livelihood up in this fashion (pun intended)
There is more to this story yet to unfold.
Furthermore, if anyone knows a designer personally, it's just not who they are to give up like that. Because in essence that is what you are saying, that gers is forced them into giving up everything thy have worked for, over debt, no, not a chance.
There would be absolutely no incentive to continue to do anything with the company, clothing line, factory, nothing, just walk away now, and go flip burgers, that would be the only option if that were true.
What I understand is the gers people know their books, fact, with the way they have been able to survive, pushing liquid to and fro, this is a huge bingo for BTZO at this point.
You have to know the system to be able to navigate it plain and simple. Sure sometimes 'things' get wacky and we 14mil is 'owed' <= lmao , no not part of the plan at all was it. or was it?
Point is, within the next 12 months, BTZO will be making some serious waves. I'll ride that. Hopefully more than once.
26-Jan-2016 8-K for BITZIO, INC.
Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Financial Statement
Item 5.03 Amendments to Articles of Incorporation
Designation of Series E Preferred Stock and Series F Preferred Stock
On December 31, 2015 Bitzio, Inc. ("Bitzio" or the "Company") filed with the Nevada Secretary of State a Certificate of Designation designating 520,000 shares of preferred stock as Series E Preferred Stock and a Certificate of Designation designating 800,000 shares of preferred stock as Series F Preferred Stock.
Each outstanding share of Series E Preferred Stock will have a preference on liquidation of Ten Dollars ($10). The holder of a share of Series E Preferred Stock will have the right to convert the Ten Dollar value of the share into common stock at a conversion price equal to 85% of the average closing bid price for Bitzio common stock during the five trading days preceding conversion, except that no conversion is permitted that will result in the holder becoming the beneficial owner of more than 4.99% of Bitzio's outstanding common stock. Holders of Series E Preferred Stock have no voting rights by reason of those shares, nor do they have any right to participate in any dividends paid by Bitzio.
Each outstanding share of Series F Preferred Stock may be converted by the holder into shares of Bitzio common stock. The conversion ratio is such that the full 800,000 Series F shares convert into common shares representing 80% of the fully diluted common shares outstanding after the conversion (which includes all common shares outstanding plus all common shares potentially issuable upon the conversion of all derivative securities not held by the holder). The holder of Series F shares may cast the number of votes at a shareholders meeting or by written consent that equals the number of common shares into which the Series F shares are convertible on the record date for the shareholder action. In the event the Board of Directors declares a dividend payable to Bitzio common shareholders, the holders of Series F shares will receive the dividend that would be payable if the Series F shares were converted into Bitzio common shares prior to the dividend. In the event of a liquidation of Bitzio, the holders of 800,000 Series F shares will receive a preferential distribution equal to 80% of the net assets available for distribution to the shareholders.
Acquisition of Viridis Capital LLC
On December 31, 2015, Bitzio acquired sole ownership of Viridis Capital LLC ("Viridis") from FLUX Carbon Corporation ("FCC"), an entity owned by Kevin Kreisler. In consideration for the transfer of Viridis, Bitzio issued to FCC 800,000 shares of Bitzio's Series F Preferred Stock. The principal asset owned by Viridis at that time was 800,115 shares of Series D Preferred Stock issued by GreenShift Corporation ("GreenShift"), a Delaware corporation.
On the same date, Bitzio issued to EXO Opportunity Fund LLC ("EXO") 200,000 shares of Series E Preferred Stock, and received in return 187,029 shares of GreenShift Series D Preferred Stock. One of the two members of EXO is an entity owned by the father of Kevin Kreisler, the Chief Executive Officer of GreenShift.
Subsequently, on that same date, Bitzio surrendered 987,144 Series D shares and paid $2,500,000 in cash to GreenShift in exchange for 800,000 shares of GreenShift's Series G Preferred Stock, corresponding to an 80% equity interest in GreenShift.
GreenShift Corporation (OTC Pink: GERS) develops and commercializes clean technologies that facilitate the more efficient use of natural resources. GreenShift markets primarily to the U.S. ethanol industry, where it offers technologies that improve the profitability of licensed ethanol producers. GreenShift generates revenue by licensing its technologies to ethanol producers, and by providing its licensees with related services.
Credit Line from TCA
On December 31, 2015 Bitzio and each of its subsidiaries entered into a Senior Secured Revolving Credit Facility Agreement (the "Credit Agreement") with TCA Global Credit Master Fund, LP ("TCA"). Pursuant to the Credit Agreement, TCA loaned $2,900,000 to Bitzio on December 31, 2015. The Credit Agreement contemplates that the lending limit may be increased to $5,000,000, on Bitzio's request and at TCA's discretion, provided that amount of loans outstanding under the Credit Agreement will be capped based upon lending ratios specified in the Credit Agreement. $2,500,000 from the amount loaned on December 31, 2015, was used by Bitzio to purchase the Series G shares from GreenShift, as described above.
The $2.9 million loan made on December 31, 2015 is, and any future loan will be, reflected in a Senior Secured Revolving Convertible Promissory Note (the "TCA Note"), which has a maturity date of December 31, 2016. The TCA Note bears interest at 11% per annum. In the event of a default under the TCA Note or with the consent of Bitzio, TCA may convert portions of principal and interest due under the TCA Note into shares of Bitzio common stock at a conversion price equal to 85% of the lowest daily volume weighted average price of Bitzio common stock during the five trading days preceding conversion; provided, however, that no conversion is permitted that will result in the Note-holder becoming the beneficial owner of more than 4.99% of Bitzio's outstanding common stock.
The Credit Agreement required that Bitzio pay an advisory fee to TCA in the amount of $3,200,000. Payment was made on December 31, 2015 by the issuance of 320,000 shares of Series E Preferred Stock to TCA. The Credit Agreement further provides that, if Bitzio has satisfied all obligations owing to TCA on or prior to March 30, 2016, then the advisory fee will be reduced to $1,600,000.
To secure its obligations under the Note and Credit Agreement, Bitzio pledged to TCA all of its assets, as did each of Bitzio's subsidiaries.
Change in Management
On January 1, 2016 Hubert Blanchette resigned from his position as Chief Executive Officer of Bitzio and from his position as a member of the Board of Directors of Bitzio.
Upon receipt of Mr. Blanchette's resignation, Marilu Brassington, the sole remaining member of the Board of Directors, elected Kevin Kreisler to fill the vacancy on the Bitzio Board of Directors, and also appointed Kevin Kreisler to serve as Chairman and Chief Executive Officer of Bitzio. Information regarding Mr. Kreisler follows:
Kevin Kreisler is the founder and chairman of GreenShift Corporation. Mr. Kreisler has been responsible for the development and commercialization of GreenShift's technologies. Mr. Kreisler served as GreenShift's vice president from 1998 to 2000, president from 2000 to 2002, chief executive officer from 2002 to 2013 and from 2014 to the present. Mr. Kreisler has also served as GreenShift's chairman from 2005 to the present. Mr. Kreisler is a graduate of Rutgers University College of Engineering (B.S., Civil and Environmental Engineering, 1994), Rutgers University Graduate School of Management (M.B.A., 1995), and Rutgers University School of Law (J.D., 1997). Mr. Kreisler is admitted to practice law in New Jersey and the United States District Court for the District of New Jersey.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Financial Statements
Financial Statements of GreenShift Corporation - to be filed by amendment.
Pro Forma Financial Statements - to be filed by amendment.
Exhibits
3-a Certificate of Designation of Series E Preferred Stock of Bitzio, Inc.
3-b Certificate of Designation of Series F Preferred Stock of Bitzio, Inc.
10-a Certificate of Designation of Series G Preferred Stock of GreenShift Corporation.
10-b Senior Secured Revolving Credit Facility Agreement effective as of December 31, 2015 among Bitzio, Inc., it subsidiaries, and TCA Global Credit Master Fund, LP.
10-c Form of Senior Secured Revolving Convertible Promissory Note issuable to TCA Global Credit Master Fund, LP pursuant to the Credit Agreement.
10-d Form of Security Agreement executed by Bitzio, Inc. and each subsidiary of Bitzio, Inc. with TCA Global Credit Master Fund, LP dated December 31, 2015.
http://biz.yahoo.com/e/160126/btzo8-k.html
Sure sure fair enough at the same time, I am here to make a dollar off a penny stock.
I buy as low as possible and sell when it moves up, if it ever does. Which has nothing at all to do with managers and their frauds. No one is saying everything done of the backend is not creative accounting. Hell, there have been times in many investors past checkbooks they have had to get creative.
Let it run and make a dollar.
They'll have to run this thing fairly significant at some point, before notes are due.
Could get interesting.
Why am I reading people in chat rooms talking about this ticker?
Makes no sense. three days now, last Thursday and Friday now today the same tripe.
What am I missing here?
Not going anywhere with all the convertibles standing around the pit to dump in on any measurable movement.
Besides, anything they might squeeze out of those books, would automatically be directed to payables.
With their current plan heading through year 2023 there is no reason to believe this thing will make any significant movement in the foreseeable future. And again, after burning the last bunch, who would take it on?
It's done.
Next RS coming before anything else
They still have yet to finish what they started last RS
It's more than obvious at this point, with a $5/ month website, no news, and no reason to think there will be, that they have nothing going on, and no groups will take this on.
Aside this, how often does the government give second chance contracts to first time screw ups? So they can likely write that off as well.
Soon!
On such an easy pick too
I cannot wait until the filing comes out, shareholders are going to be so...{place your adverb here}
Another day of awesomeness from soum
These guys are the tops are they not?
It's nice to see shareholders working together Oo
Geezus
If so good for them that means they are after no more than shareholders are. And they win. So what, this ticker, or the prior cusp I should say, gave many of us a very nice return.
Here's how I got here, movement, bought in, when it ticked up some, sold a sheep ton and kept a bit, sold the rest of that lot on the way down, bought in a small position with some profits and got split on.
Only reason I am here in a nutshell.
Do I think these people will do anything at all with the stock? Hell no I don't, that's nothing but use at as it was intended, a personal piggy bank. Funny, that's the very same thing I do with OTC tickers.
Can't hit trips when no one give two turkeys about a ticker that has zero fundamentals to tear apart.
Empty shell nothing more at this point. They should try to sell the shell to someone who knows how to work the OTC.
Excellent news!
In that case, as soon as it hits the .55 mark, I'm back in!
Though, it might be, at least for this week at it's lows. Maybe a dip to .98 first
2.34 not 234. right lol