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What part of the statement below (from their previous PR) are you not understanding as referenced in PAST tense?? By definition "already settled" means that it (i.e. debt instruments) no longer exist! And whether paid by stock (common, preferred or both) or cash- it's already accounted for in the I/O. BTW- whether you know this or not- every 1934 Act Company (i.e. mandatory reporting) who issues shares and is DTC eligible, the Transfer Agents (TA) pick it up on real time. If you doubt that...feel free to contact the TA and ask them how quickly they post the I/O once they issue shares (restricted or unrestricted)!
The Company’s investors, collectively over the past two fiscal quarters to date, have already settled their convertible debt totaling over $2.23 million dollars, including principal and accrued interest, into LFER common and preferred shares at fixed prices.
Source Link: https://www.otcmarkets.com/stock/LFER/news/story?e&id=2064576
If you've been following this company and their filings as well as the recent announcements you'll notice that during the past two quarters their total I/O went up by 12M shares and based on the figure they recently released of $2.2M of debt converted as well as the litigations that were settled during that period and you come up with a dollar cost avg of that amount (based on the increase in I/O) to somewhere in the neighborhood of $0.15-$0.18/ share. In other words, a higher dollar cost average than current prices. All things considered- not so bad after all.
It's quite my pleasure! I also notice some of your posts on the other board (SOL*) and they were very informative and I'm sure we could use those insights here for those of us who are not familiar with the CareClix business model. Welcome to this board and Good Luck! :)
Thank You Chris! Awesome Post!
____________________________________________________________________________________________
You're quite welcomed!
?? $LFER
??0.0929
Pink Current, AS: 200M, OS: 62M, US: 25M
Outstanding Shares Updated:
?? 50,090,861 (2021-11-05)
?? 62,317,136 (2021-11-26)
Difference: +24.4% (+12M)
Restricted Shares Updated:
?? 24,333,107 (2021-11-05)
?? 36,559,382 (2021-11-26)
Difference: +50.2% (+12M)
____________________________________________________________________________________________
Well there you have them- the numbers that people have been wondering about....12M restricted shares in the cleaning up of the balance sheet! All things considered, you can now stop wondering and factor that into the equation especially when they disclose what the CareClix company(ies) are actually doing in revenue terms. Those should be expected after the closing when they'll have 71 days, from closing, to file an 8k showing the revenues of the acquired companies.
For those of us who have followed the ups and downs (and follies) of this company (LFER) for the past several years, here's a quick summary of how they got here for those new SOLI shareholders who are interested:
1. The Company used to be a Beverage company with direct distribution operations in CA and NY
2. The company's founders (who are still on the board although probably not for much longer given the recent announcement) have never sold a single share of their holdings (despite the BS posted here by some) in the past eight years.
3. At its height, the company was doing about $6 million annual revenues but never made a profit
4. When the company announced (back in mid 2019) that it would be divesting out of the beverage business- the balance sheet and valuation began its downward spiral.
5. Any company divesting out of its core businesses will obviously face numerous lawsuits and litigation issues concerning certain notes it had deemed "toxic". This would be the case whether the company was public or private, yet despite all of that- it remained complaint and a current filer. It never failed to remain a fully reporting '34 Act company.
6. They entered this year with a new CEO once it declared it would seek to enter a new industry (ie. software/tech). So far, he's made good on his commitments including putting up HIS OWN MONEY in the financings this year! Let me know how many other OTC companies you know of who's CEOs/Management do the same....I'll wait patiently.
7. The recent announcement clearly states that (based on its last 10Q), it has alleviated the balance sheet of approximately 80-90% of its long terms debt on its books and a lot of that has already been accounted for in the total I/O. It might go up from here but only slightly given that most of that debt has converted over the past six months. Given that the stock has held around these prices would lend you to believe that the dollar cost average isn't really much lower if not higher than these prices.
8. For those of you who coming over from SOLI, you can probably appreciate more than most the importance of being in a compliant and fully reporting public company. Assuming this deal goes through and on schedule, you can rest assure that the LFER group wouldn't be doing a deal with another company that they didn't think could comply with the regulations and reporting requirements. Say what you will about that team but this would technically be their sixth acquisition and they have NEVER not kept the acquired companies fully compliant.
There's a lot more but anyone is free to contact the company, as I have on many occasions, to get the information (public) directly from management. They have never shied away from their shareholders.
Did you even READ the press release?? They have been converting for the past TWO QUARTERS and to date! Which means that the bulk of that is already in the current I/O! Most of that occurred BEFORE the recent announcement of the acquisition of CareClix! What are you not understanding???
Of course they do! What did you expect? Were the debt holders going to simply right it off to zero with no conversions? The question was never if....it was simply when and how much. Now it's known.
A shareholder but have been patient with that one too....I'm only pointing out what's in the 8K that came across. Not sure what this SOLI (or CareClix) does or did but will be doing some research on it. Anyone here with more info about the actual company could enlighten here?- would be good to know. Thanks in advance
What are you talking about? There's one "PREFERRED" share being issued that could convert (at some point) into 10 LFER shares for the balance (outside of the 50M of common) of the deal!! what are you reading? Geez....
You people are hilarious! As of this morning, before that 8K came out, you were holding shares of a company that can't even trade! Now you're being presented with a way out by getting shares in another fully complaint and trading company on a one for one basis and you're still upset???.....
That's the OTC world for ya!
Anyone that looked into this (you can also reach out to the company info@lifeonearthinc.com ) will find out that Gankaku was not only suing for the balance of the Note but ALSO wanted something like 8M additional shares on top of the balance due on the note! That's why the company fought this as it was obviously usurious and would have unnecessarily over diluted the cap table for the amount that was due! The company was able to settle this nasty fight without having to issue a single new share to Gankaku- that's a (new) management team that knows how to make this turnaround happen. Like others have already mentioned- this isn't happening unless there's something in the works.
Excerpt from the Update for all those doubters about the "toxic" notes on the balance sheet:
"Balance sheet improvements:
The Company has come to terms with over 90% of our total debt holders that will allow it to move forward without detrimental dilution to the existing capitalization table. In fact, the bulk of our debt holders and affiliates have opted to exchange their debt into our Preferred Series instrument. This is a testament to our long-term investors and their long-term view for the future of our Company with SmartAxiom. This material event, along with the acquisition of SmartAxiom, shall rebalance the Company's balance sheet. All relevant financial details shall be on our next 10K and annual audit as subsequent events."
Source: https://www.lifeonearthinc.com/blogs/latest-news/shareholders-update-may-26-2021
If so, then it proves that the Company is going in the right direction. Consider yourself lucky since most companies don't come back from the dead on the OTC and usually go dark, bankrupt, and eventually get delisted. Maybe you should be rooting for the new team so you can monetize your debt. :)
Look who's back..... the officer of another OTC Company (in a completely unrelated space) with a personal vendetta against individuals who are no longer really calling the shots of this company.
BTW- How's the coconut water business these days? It must suck when you're stock (M*J@) is at $0.15 but only trading 1,000 shares a day. If you ask how is this relevant then perhaps we can explain it to the moderator and the whole forum who and why you're still here. Your call :)
Folks get ready for an interesting ride!!!
Biden signs cybersecurity executive order after Colonial Pipeline attack
U.S. President Joe Biden signed an executive order on Wednesday that advances federal cybersecurity capabilities and encourages improvements in digital security standards across the private sector which has been hit by a spate of cyber attacks.
The executive order establishes a series of initiatives designed to better equip federal agencies with cybersecurity tools.
It follows a cyberattack against the Colonial Pipeline that caused some internal computer systems to be disabled with ransomware. This led Colonial to shut the pipeline, triggering fuel shortages and panic buying in the southeastern United States.
On Wednesday, Atlanta-based Colonial said it "initiated the restart of pipeline operations at 5 p.m. ET."
The order also requires that software companies selling to the government maintain certain cybersecurity standards in their products and report whether they themselves have been compromised by hackers. The requirement was first reported by Reuters in March.
A senior administration official described the executive order as having a "very significant" impact on the government's ability to detect and respond to hacking incidents.
"It reflects a fundamental shift in our mindset from incident response to prevention, from talking about security to doing security, setting aggressive but achievable goals ..." the official said.
The pipeline cyberattack is the latest in a string of cyber incidents against U.S. companies and government agencies over the last six months.
Source: https://www.reuters.com/technology/biden-signs-executive-order-improve-us-cybersecurity-amid-colonial-pipeline-2021-05-12/
Given the size of their positions and the slight increase of the I/O, my guess is that it's probably a combo of both. Between just these two individuals from the Cicero Transact group (Michael Woloshin and Joseph Abrams) - they already own about 15% of the total I/O so far. These types don't work in isolation, in my opinion, and it's usually part of a bigger deal or plan. Look at the string of recent announcements including their recent plans to acquire SmartAxiom and you can start to see something potentially big developing. Bottom line is that these very accredited individuals paid cash for their stakes (unlike the usual suspects in the OTC penny land that are just gifted shares for breathing) and I seriously doubt they're bothering to even be involved to simply "flip" this for pennies. Based on their other two known involvements (i.e. deals) - AEYE and TRCH both of which were on the OTC and trading at similar prices to LFER and where those two companies are currently trading.....you get the idea that they want to take this much much higher to even bother being involved.
Yes, apparently that group that they're part of (https://www.cicerotransact.com/team) have been behind some big winners including AEYE and TRCH- both companies that were on the OTC and are now on the NASDAQ. Just FYI
For those who don't know who Joseph Abrams is.....see below:
Source:https://www.cicerotransact.com/team
Joe Abrams is co-founder of The Software Toolworks, a publicly held developer, publisher, and distributor of educational and entertainment software, which was sold to Pearson, Plc. for $462 million. Mr. Abrams also co-founded Intermix, the predecessor company to MySpace, which was sold to News Corp. in 2005 for $580 million. He has also served on the Board of Advisors for Akeena Solar and and was an adviser to ZAAG, assisting in public offerings, acquisitions and capital raisings.
Mr. Abrams specializes in emerging growth companies in several areas including: technology, drug discovery technology services, consumer products,big data and online job placement. Mr. Abrams also sits on University of Rochester Simon School of Business Executive Advisory Committee.
I think you're over analyzing this. They have been very consistent in the past couple months about what their intentions are and how they're going about doing it. Keep in mind that this Company has a new CEO which has never happened since it was founded back in 2013. Also, take a look at the recent filing on who's taking a position in this (13G), as well as them getting rid of their toxic debt which was always an over hang problem. Companies, especially on the OTC, don't go through all of this trouble nor have the resources to stay current and fully reporting with a share structure like this unless something bigger is in the works. The SmartAxiom is probably only the beginning of what they want to do in the IOT, Cloud Enterprise, Cyber Security, Global Compliance and Blockchain space. It's amazing how people make such a big deal about swings in low floater whenever there's decent volume. Some people need to chill and sit back- relax and let this play out as it's already been trending in the right direction!
This (mostly new) group seems to be very good with their compliances and disclosures so I wouldn't worry too much of "if"....it's just a matter of when. This is still in the very early innings as there seems to be a lot of Information that will be divulge over the next several weeks and months. This isn't a day trading type stock in my opinion. You either own it or you don't. Good luck to everyone!
Check out this Tweet from Renesas Electronics!
Find out how
@smartaxiom’s blockchain technology has created the first true endpoint-to-cloud solution for #IoT devices when deployed on #Renesas MCUs and MPUs -
http://ow.ly/hso050DYKJf
Link:
Find out how @smartaxiom’s blockchain technology has created the first true endpoint-to-cloud solution for #IoT devices when deployed on #Renesas MCUs and MPUs -https://t.co/Wga0TMGhF4 pic.twitter.com/59MwnEwsyQ
— Renesas Electronics (@RenesasGlobal) March 17, 2021
Yes, and also Joseph Abrams who is Co-founder of Cicero Transact...see Bio from their Website:
Joe Abrams is co-founder of The Software Toolworks, a publicly held developer, publisher, and distributor of educational and entertainment software, which was sold to Pearson, Plc. for $462 million. Mr. Abrams also co-founded Intermix, the predecessor company to MySpace, which was sold to News Corp. in 2005 for $580 million. He has also served on the Board of Advisors for Akeena Solar and and was an adviser to ZAAG, assisting in public offerings, acquisitions and capital raisings.
Mr. Abrams specializes in emerging growth companies in several areas including: technology, drug discovery technology services, consumer products,big data and online job placement. Mr. Abrams also sits on University of Rochester Simon School of Business Executive Advisory Committee.
Link: https://www.cicerotransact.com/team/executive-team
I just looked him up and look what I found....this is starting to look very interesting if these are some of the folks that are behind this deal!
https://www.cicerotransact.com/team
BOOM! That's a big deal because it shows that this turnaround is for real and that there are potentially real players getting behind this! Great to see them taking out these toxic elements from the Company's balance sheet. This is what you want to see in a real turnaround situation.
This stock has had a recent history of these types of down drafts. The trick is to catch these shares as these weak hands sell them then let the price recover and then wait for more developments and watch the next move up on those announcements. It's been working since November. Good luck! :)
As I understand it, Mr. M. Khan was the one who convinced the company not to proceed with the previous deal- perhaps due to his previous dealings with its founder. As per the shareholders update- he instead convinced them to proceed with the SmartAxiom deal. That alone should demonstrate that the first move he made as CEO was the correct one. The fact that he also stated that he's participating, personally with his own money, in a private placement that's non-toxic/diluted is something you almost never hear of in the OTC world! This looks like it's only the beginning as the SmartAxiom company is the real deal (signing up real customers) and its only getting started!
"AND ALONG THE WAY LFER TRIED THEIR BEST TO HOSE ME SO FRANKLY I KNOW YOU BETTER THAN MOST ...... "
So finally you're admitting that all of your posts are about getting a vendetta back at the company? Not as a shareholder but because you think they tried to "hose" you? LOL! Assuming that nothing went through between you and the company yet you still have the time to come on here to post. Must be nice having so much time on your hands. In the meantime, the shelves need refilling of that coconut water you're selling.
It's funny how you keep posting here as if you you know something everyone else doesn't. There's been no announcements about revenues, in this coming Q, since everyone already knows that the recently announced acquisition hasn't closed yet. As most here also know, the 10Qs are nothing but rearview looking and the ugly legacies, from the past, have been priced into the stock long ago. Any positive developments going forward is what is being priced now. You'd probably know that of course but then again you should be more concerned about running your coconut water company or should we let everyone know that a C-level officer of another OTC company is wasting his time on these message boards for no other reason other than he feels scorned for some odd reason? That should get real interesting real fast.
????
I'm willing to bet that the selling today is mostly the morons who bought this a couple weeks ago when they announced that they were going to buy the assets of that KloudGaze company but after Wednesday's filing, it's clear that they decided instead to buy a full blown company like SmartAxiom....it's the right move. I believe there were too many issues with the ownership/founder of that Kloudgaze company and by the looks of it- the SmartAxiom is a cleaner company with no baggage and well ahead with customers and products in the market place. This dip is a gift- in my opinion only of course!
Directly from IBM's own website!
https://www.ibm.com/case-studies/smartaxiom
SmartAxiom
Building scalable IoT security solutions from edge to cloud with blockchain & Informix technology
The Internet of Things (IoT) revolution is transforming the way we live and work, but security remains a challenge: each new device represents a new attack vector for hackers to exploit. SmartAxiom’s innovative security solution harnesses the power of IBM Analytics and blockchain technology to protect IoT networks from the edge to the cloud.
Check out this release a couple months ago directly from Renesas! This could be something very interesting indeed.
Lineup of Latest Ready to Use RA Partner Solutions Immediately Available:
Arm® Pelionâ„¢ IoT Platform is a flexible, secure, and efficient foundation for connectivity, device and data management. It accelerates time to value for IoT deployments, enabling organizations to easily connect trusted IoT devices on global networks, seamlessly manage them and extract real-time data to drive competitive advantage.
The Renesas RA Ali Cloud solution for Alibaba Cloud uses the RA6M3 MCU and connects via Wi-Fi/Ethernet to Ali Cloud Web Services. It provides an ideal evaluation environment for developers and serves as a strong foundation for IoT device development.
AltoBeam provides Wi-Fi chips or modules featuring integrated 802.11b/g/n WLAN SoC with SDIO interface (SDIO2.0 compliant) to enable easy cloud connectivity for IoT edge devices. The module works out-of-box with RA MCUs.
Clarinox licenses Bluetooth, Bluetooth Low Energy and Wi-Fi protocol stacks for the Renesas RA6 MCUs. The award-winning design of ClarinoxBlue and ClarinoxWiFi, coupled with the innovative ClariFi debugger and reference applications, simplifies product development and ongoing product maintenance.
CS Lab provides a proven, certified BACnet stack for RA MCUs targeted for building automation applications.
DSP Concepts’ TalkTo™ audio front end and Sensory’s Truly Handsfree™ Speech Recognition solution set is the perfect combination for local voice activation and control. It is optimized for the RA6M3 MCU to ensure low MIPS and memory consumption and enable best-in-class voice-activated products.
EPS Global is one of the world's largest programming and secure provisioning service providers now supporting the RA Family of MCUs. Customers can seamlessly access an EPS Global network of secure programming centers in the Americas, EMEA, Asia, and India to service low-volume prototype quantities up to high-volume IC programming at competitive price points.
Hex-Five’s MultiZone® Security provides quick and safe way to add security and separation to Renesas Cortex-M-based MCUs. The MultiZone Trusted Execution Environment can retrofit existing applications without the need for any hardware or software redesign.
IAR Embedded Workbench® from IAR Systems is a complete development toolchain providing powerful code optimizations and comprehensive debugging features in an easy-to-use integrated development environment. The C-Trust security development tool adds IP protection and production control.
Pachira Voice Recognition solution delivers an offline wake-up command trigger with fast response time and voice playback support. Integrated DSP (Fortemedia) features beamforming, noise immunity, and echo cancellation with the RA MCUs.
Percepio’s world-class visual trace diagnostics tools for embedded systems and IoT devices now support the RA Family of MCUs, and is suitable both for development labs and for monitoring devices in the field.
Qeexo AutoML is a fully-automated, end-to-end platform that empowers users to collect, clean, and visualize data to build machine learning models for comparison. Solutions built with Queexo AutoML are optimized to have ultra-low latency, ultra-low power consumption, and an incredibly small memory footprint. A selected model can be deployed to target embedded hardware with just one click.
Qt® from The Qt Company is the world’s leading independent graphics toolkit and application framework for building GUI applications on embedded devices. Qt helps customers deliver smartphone-like UI/UX with its designer and developer tools, which support collaborative product development.
The Security from Inception Suite by Secure Thingz provides companies with a straightforward way of building the right level of security for their application needs throughout the development, manufacturing, and product management process.
SmartAxiom software manages and secures IoT devices through a patented, lite blockchain technology running among devices at the edge of the Internet and enabling them to defend themselves. Now deployed on Renesas MCUs and microprocessors, SmartAxiom has uniquely created the first true endpoint-to-cloud blockchain solution.
GUILIANI from TES Electronic Solutions is a powerful, yet easy-to-use modern object-orientated and customizable software to create stylish GUIs quickly, with support from quality design services.
Toshiba Digital Solutions provides the RECAIUS voice recognition software solution for user pre-defined trigger word detection suitable for constrained edge devices.
wolfSSL's embedded SSL/TLS library is designed to offer optimal embedded performance and rapid integration into the RA Family of MCUs. The integration allows users to leverage hardware crypto solutions, while supporting the most current standards.
Source: https://www.businesswire.com/news/home/20200728005379/en/Renesas-Welcomes-Second-Phase-of-Ready-to-Use-Partner-Solutions-from-RA-Microcontroller-Ecosystem
That's the last convertible note they took nearly a year ago and one of the very notes they've been in litigation with (also disclosed in the 10K/Qs). If you read the complaints, they're in litigation because the convertible note holder was being unscrupulous in their conversions. There is nothing new in all of this as it's been know for over a year. The fact that most of the debt is still held by an affiliate(s) who owns more than half the total debt is a positive sign if they're also part of the decision to make this shift/ acquisition in the tech space happen.
I'm not sure where you're getting your information from but maybe it would help if you read their filings (they are a current and fully reporting issuer). They are being funded by private investors in series of Preferred shares that are not anywhere near like the very notes that they have been litigating against (also disclosed in their filings). They haven't issued new shares (or taken on new notes) since they switched their transfer agents and when they do, we'll all know about it when OTC updates it. Read the filings- does help a lot instead of making things up.
I believe that they disclosed in their last 10Q that they were negotiating or have negotiated with their note holders. With regards to the this acquisition- the company being bought (SmartAxiom) would be issued restricted shares and given the amount that they'd be given it would most likely make them an affiliate which would greatly restrict when and how much they could sell in the future. This seems like its been well structured. The new CEO seems like he's off to a good start!
Not sure unless something might be pending. We'll know soon enough I suppose. Good trading (with all your stocks) everyone!
"Yep read a few of those articles today on the squeeze taking place all over..."
I've heard the same thing as well. I've had some of my other stocks get bid up because of it! Fun to watch it happening.
I've seen a common pattern to this thing lately- they drop it in the morning to flush the weak hands out and then they bring it up with very little effort. At least that's what I've been noticing for the past month or so.
Saw that- looks like they got themselves someone legit to finally take the helm! Interesting how they were able to pull that off.
What do you think that's telling you? I have some thoughts but I'd liked to hear someone else's take on why it's getting "lighter and lighter" on the way up.