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Or just to average down in the hopes another entity takes over and it runs??
It’s been all over the news for a year. Lol
My etrade has already switched over. It will happen .
This thing is gonna do daily volume by 10:15.
Do a search. They added a second Gbtc but shows Amex.
Bought Grayscale last week while it was on otc. After approval last night now trading on NYSE as Bitcoin ETF. Yehaww!
Never mind. Now it’s lit up like a Xmas tree.
My level 2 shows one selling MM and four bidding MM’s.
X/Twitter Post:
Live Address:
We expect $GBTC will commence trading as an ETF tomorrow, January 11, capping off over a decade of careful planning and hard work.
— Grayscale (@Grayscale) January 11, 2024
For important info & disclosures, visit: https://t.co/nayoA6agcZ
-
Grayscale Bitcoin Trust (BTC) (the “Trust”) has filed a registration statement… pic.twitter.com/hkDwn6vlo1
Will be interesting to see how this translates to btc by percentage once uplisted. I’m expecting a serious run here.
Well if it’s going QB they need a pr to get it over .01 as a requirement.
So they put a sock in the IR guys mouth.
There have been no filings for us to even anticipate what they are up to. If it’s a merger with Nxpl then we should be getting more shares since Nxpl has no value and we trade 3-4 times them. But I know that won’t happen. If we go to Naz individually then how do both companies get to file q’s and K’s using the same numbers. Wish we knew what the hell was going on here already.
Thanks for making contact.
Right. There’s a whole bunch of us that bought up a bunch of debt shares in that range. That’s when the ball started rolling. The good ole days….
Why don’t you do a quick reach out and see if you get the same response?
Lots of volume in last half hour.
Otc only has it listed as non shell based on the questions asked of the Corp and after seeing its Q and K filings. That’s meaningless. The proof is years of no revenue. That’s your answer . Spin it however you chose. Bottom line is there is no interest in this. Unless they sell it and we get a run on hype here we sit. From dollars to less than a penny. With a chairman/ceo who vanished completely one day. Probably put in a China prison.
IMO
They have 16k file coin. That’s 100k in cash, big deal. That means nothing. Besides they will just pay themselves with it like they did with the bitcoin which is now gone.
This is nothing but a shell that happens to be current in filings. They have no business and generate no revenue.
They need to sell the shell to give shareholders a fighting chance.
Fact.
Happy Holidays All!
I agree with that.
The value of his shares are about 750k right now. Down from 3 million when it was .06 pre split. Nothing good has happened since to reflect in a positive share price.
Let’s hope a move to naz via merger gets us rolling. We still need better percentages on revenue for both gross and net. Especially if we were to go to naz without a merger like originally planned.
We are still missing the special sauce…
Armen converted to common. So right now he is just as bad off as us. Unless they regrant him shares? But with the float so tight I doubt it.
Fingers crossed
So that’s about 100B to be burnt. Hopefully this becomes a regular occurrence.
Thanks. I think they are scheduled for the next three days. Can’t remember where I read that.
Thanks. I thought I read they were planing three burns of a large magnitude.
Any news on the burn today?
Your back already? That was quick..
Hahahaha. Gobble gobble.
It’s gonna take more than you two nibblers. We need an army of buyers and real news. That’s been lacking here since the ceo wu went awol.
Well that’s good, because Hestia didn’t do any Pr to warrant those shares.
Same bs report with nonsense digital currency values. Now they issued 9.6 million shares of series A to Hestia investments on 8/16/23.
God only knows what those convert to as the preferred C are 25 to 1.
Total non transparency.
Pump this up so I can get out of here with something. Please..
You don’t need to file a Q4. It is included in the annual.
Although the books have been cleaned up and the gross profit margin is now acceptable, the loss from Q2 to Q 3 is a swing of 2mm negative after operations.
Again, things are cleaning up, but I would like to see some consistency here…
600k + to 1.3mm negative.
Taken from the Nxpl report just filed. Looks like valuation can be adjusted…
Rx numbers are also on Nxpl report…
Subsequent Events
The Company has evaluated subsequent events through November [ ], 2023, the date the condensed consolidated financial statements were available to be issued. See Note [] for subsequent events that require disclosure in the condensed consolidated financial statements.
As a result of the common stock purchase warrant exercises and the entry into the voting agreement, the Company concluded that there was a change in control in Progressive Care.?As of July 1, 2023, NextPlat has the right to control more than 50 percent of the voting interests in Progressive Care through the concurrent common stock purchase warrant exercises and voting agreement noted above. Beginning on July 1, 2023, the Company changed the accounting method for its investment in Progressive Care, which prior to July 1, 2023 had been accounted for as an equity method investment to consolidation under the voting interest model in FASB ASC Topic 805. Therefore, Progressive Care became a consolidated subsidiary of the Company on July 1, 2023.
Final purchase accounting adjustments may be materially different from the pro forma adjustments presented in this document. Increases or decreases in the fair value of the net assets may change the amount of the purchase price allocated to goodwill and other assets and liabilities. Measurement period adjustments will be recognized prospectively. The measurement period is not to exceed 12 months from the respective dates of acquisition.
Progressive Care contributed revenues of approximately $12.4 million and a net loss of approximately $1.4 million to the Company for the period from July 1, 2023 to September 30, 2023. The following unaudited pro forma summary presents consolidated information of NextPlat Corp as if the business combination had occurred on January 1, 2022.
New push down accounting method used as a subsidiary.
Example:
Example of Pushdown Accounting
Say Company ABC decides to purchase its rival, Company XYZ, which is valued at $9 million.
ABC is purchasing the company for $12 million, which translates to a premium. To finance its acquisition, ABC gives XYZ’s shareholders $8 million worth of ABC shares and a $4 million cash payment, which it raises through a debt offering.
Even though it is ABC that borrows the money, the debt is recognized on XYZ’s balance sheet under the liabilities account. In addition, the interest paid on the debt is recorded as an expense to the acquired company's balance sheet.
In this case, XYZ’s net assets, that is assets minus liabilities, must equal $12 million, and goodwill will be recognized as $12 million - $9 million = $3 million.
From the Q:
Note 4. Business Combination
As referenced in Note 2, the Company has applied push-down accounting to its financial statements, which resulted in the initial recognition of its assets and liabilities as of the acquisition date, July 1, 2023. The assets and liabilities were measured at estimated fair values primarily using Level 3 inputs. Estimates of fair value represent management's best estimate which require a complex series of judgments about future events and uncertainties. Third-party valuation specialists were engaged to assist in the valuation of these assets and liabilities. The fair values of the Company’s current assets and current liabilities were assumed to approximate their carrying values. The estimated fair values of the Company’s identifiable intangible assets consist of trade name, developed technology, and pharmacy records. The fair values of trade name and developed technology were estimated by applying an income approach, specifically a relief from royalty method. The fair value of pharmacy records was estimated by applying a market approach. The estimated fair value of the Company's building and land, included in property and equipment, net, was estimated by applying a sales comparison approach while vehicles, furniture and equipment, leasehold improvements and fixtures, and computer equipment were assumed to approximate their carrying value. These fair value measurements are based on significant inputs not observable in the market, and thus represent Level 3 measurements. Goodwill was recorded as the excess of the estimated enterprise value over the sum of the fair value amounts allocated to the Company’s assets and liabilities. The goodwill is not deductible for tax purposes.
The following table summarizes the preliminary allocation of the fair value of the consideration to the assets and liabilities of the Company on July 1, 2023. The preliminary allocation to certain assets and/or liabilities may be adjusted by material amounts as the Company continues to finalize its fair value estimates. The total consideration is based on the fair value of the Company’s common stock outstanding at July 1, 2023, which was 6,162,343 common shares outstanding and a fair market value of $4.45 per share.
Total consideration
$ 27,422,000
Fair value of identifiable net assets:
Cash
7,352,000
Accounts receivable, net
6,478,000
Receivables - other, net
506,000
Inventory
1,631,000
Prepaid expenses
220,000
Property and equipment, net
2,883,000
Right-of-use assets, net
405,000
Intangible assets, net:
Trade name1
4,060,000
Developed technology2
2,560,000
Pharmacy records2
8,100,000
Deposits
39,000
Accounts payable and accrued expenses
(8,196,000 )
Notes payable and accrued interest - current portion
(149,000 )
Lease liabilities - current portion
(208,000 )
Notes payable - long-term
(1,173,000 )
Lease liabilities - long-term
(230,000 )
Total fair value of net assets
$ 24,278,000
Goodwill
$ 3,144,000
(1) 10 year amortization period
(2) 5 year amortization period
So if Rx was doing 45 mm a year and went to sell for a multiple it would be higher.
Here they just took the price per share by O/S and called it a day. That is their new basis.
No idea where we fit in… hope the company puts out a pr. With some tidbits. But not expecting much….
Aimho.
Net loss of 1.4 million and no news.
https://www.otcmarkets.com/filing/html?id=17052860&guid=2kJ-knnQ9HExtBh
From Edgar
10K
Non-Accelerated Filer
90 Days from Fiscal Year End
15 Day Extension with Filing of NT 10-K
10Q
Non-Accelerated Filer
45 Days from Quarter End
5 Day Extension with Filing of NT 10-Q
I’m just saying all K reports are 90 days after end of year. All Q reports are 45 days after end of quarter.
It’s 90 days on the annual.