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Anyone know when trading will resume?
No idea. It's been 20 business days since RS too.
The D should drop on Monday 22nd, and trading will resume. GLTA
Is the RS postponed/cancelled?
When can we buy?
Has this been discussed here?
SIMLATUS announces delivery of Fiber Group Order (7/26/2016)
SIML Extinguishes Another $70,671 in Convertible Debt GRASS VALLEY, CA--(Marketwired - Jul 26, 2016) - Simlatus Corporation (OTC PINK: SIML) -- announces today that following the completion of the purchase order process in connection with the North Carolina based Fiber Group, Inc., Simlatus and its engineering staff have completed the building, testing and shipment of the first 20 Innovation 16x1 Video/Relay Router units. The units were shipped last week after Fiber Group's client tested and approved several units for their performance specifications. The Simlatus product will be used for security surveillance in a major nuclear plant in the USA. The remaining 20 units are scheduled for delivery in about 15 - 20 days. Chairman and co-founder Bob Stillwaugh stated, "I am very pleased to oversee the design, manufacturing, assembly and testing of all our products built for Fiber Group. I am equally proud of how this product has performed over the years, and give thanks to our stellar team of engineers, suppliers and management who made this a very smooth process for Fiber Group. Although our 55 different products are used today by NBC, ABC, CBS, FOX, ESPN, DirecTV and hundreds of other broadcast studios, the $50,000 order from Fiber Group opens new doors and new markets in commercial video surveillance, with the anticipation of future orders of similar applications in high-end video security for our commercial and government customers." Furthermore, CEO Gary B. Tilden stated, "Pursuant to an agreement entered into between Direct Capital Group and the Company, the Company returned assets held by the Company and relative to certain convertible debt between the Company and Direct Capital. In exchange for the return of the mining assets and oil exploration assets the Company held, Direct Capital Group agreed to extinguish several outstanding Notes it held against Grid Petroleum Corp. The elimination of those Notes was disclosed in a Form 8-K filed on May 20, 2016, of which the amount of $70,671 was inadvertently omitted. Effective as of July 25, 2016, the Company and Direct Capital agreed to cancel the debt settlement dated December 31, 2012 in the amount of $70,671." Gary Tilden further stated, "We are working on extinguishing even more convertible debt over the next few months, to prevent conversions and dilution. The company has been able to extinguish approximately $2M in debt since March 10, 2016 while increasing the assets of $6.25M in intellectual property, inventory and tooling. The company revenues pay for our operational costs, while we roll out the newest broadcast product 'SyncPal' and commence the new R&D on our Augmented/Virtual Reality product."
The who's buying the converted shares?
Got it, thanks. The old note holders are converting shares, but someone needs to buy for them to be paid. Maybe the company itself is buying back using funds from a loan or other arrangement with a new creditor.
If they're delivering shares at 1 cent to note holders, shouldn't we expect retail to climb higher? Why would the note holders buy if that were not the case?
So they're converting shares at a tenth of the price. Nice.
Who's selling for 1 cent? I thought trading is halted for 20 days.
Needs to go to 20 cents for me to break even. What are the odds?
4 weeks cause it's 20 business days
Revenue ain't profit
8k out
Exciting news!!
Link to what? The 14c is on the iHub news page for this ticker.
There's no mention of FINRA on the 14c def info statement. Does this mean that FINRA approval isn't required for the RS?
Something positive to look forward to after the reverse stock split.
What's the probability that FINRA will deny the reverse split?
1-for-1800 reverse stock split approved.
Great. Expect PR soon.
Quarterly 10-Q out!!
There will be a pump before the dump (if any). That's when you get out.
The Company anticipates that the Reverse Split will be effective on or about July 18, 2016.
Some of the opinions on this board are biased and extremely pessimistic, especially from investors who got burned in the past. All I'm saying is, that need not be the case. The RS may good for current investors, and it may give he opportunity for those who want out to break even or higher.
This is no different from any other sub-penny stock I've owned. RS is quite common in penny land. Doesn't mean that there are no opportunities for serious gain.
I made 5 grand on another stock post-RS. Stock was trading like crazy shortly after the 20 day period. So, nothing to worry here.
Who buys 50 shares at 0.0001?
Sry. I meant ask volume.
FYI: Ask just got cut in half. Still no bid.
But RS ratio only affects OS, not AS. So this is an AS decrease.
I'm not insisting one way way over the other. They should do both.
The same way we all determined it was fake. He posted a PR in place if the company with a future release date which is now past. If that's not good enough, I don't know what is.
It's the iHub terms of service. Lol
It was a Google search. Not too hard to find.
By posting information in or otherwise using any communications service, chat room, message board, newsgroup, software library, image or document repository, or other interactive service that may be available to you on or through this Site, you agree that you will not upload, share, post, or otherwise distribute or facilitate distribution of any content -- including text, communications, software, images, sounds, data, or other information -- that:
E. Misappropriates the name, likeness, image, sound or other physical attribute of another person or user or falsely impersonates any other user, person or entity, including any of our employees or representatives;
I'm sure posting fake PRs violates at least a couple of iHub policies.
I found Fox News Quartermaster Corps listed in the LinkedIn profiles of some Fox News employees. So they're definitely related companies.
I see. Don't know why SIML doesn't use InvestorsHub NewsWire.