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I agree with you on that, the float needs to grow, but gradually.
I don't post much anymore, but I think the real problem with liquidity in this stock isn't awareness so much as supply.
there simply aren't enough shares that are unrestricted to support liquidity with small spreads. Jumping into a stock where the ask and bid are 50% or more apart on any given day is simply not something that short term investors are going to do, and liquidity is driven much more by day traders and short term investors.
I think we really need a float 5 to 10 times greater that what we have to see liquidity that we all want.
Every few months I check in to this one, just to be thankful that I'm out now.
What a disaster.
Good lord, the OS is up to 144 million now?
That's a 100 times increase since the RS put it at 1.4 million. so 100 times increase in 4 months, at this rate they may get to 1.5 to 2 billion this year and get that next RS in before Christmas.
Feel sorry for anyone "playing the lotto" here. They would have better odds with an actual lotto ticket.
as always your living up to your name.
good level headed post. No one who respects their money should put it into this stock without reading your post and truly understanding how slim the upside is here while dilution is on.
No RS until this gets back well up over a billion shares and has been a no bid or .0001 for a while. At this rate that could be this year, could be early next year.
I never said it was undervalued at .20.
I don't say it's undervalued now either.
The company right now is essentially valueless other than potential, so saying it's over or undervalued right now would be based on personal bias and opinion.
Right now the stock is worth whatever you can get for it and isn't based on any normal corporate valuation.
That statement isn't logical at all.
Let's say that the company does a reverse merger with an entity that has 10 million a year in revenue and part of that deal is issuing 10 or 20 million restricted shares to the incoming company.
If all of that is announced say next Wednesday after hours, do you think the stock price will go up on Thursday or Down on Thursday?
Yea, it's funny how you hear about OTC shells that are supposedly great but are really trash (LEA$ comes to mind as a recent scam that has faded away).
This company is really clean, zero convertible debt, low float for over a year now. Even if Christopher had to issue 10s of millions of shares to lock up financing the float would still be under 100 million (which is about where you want it for outside investors) and I'd expect the share price to correct up many times from this level.
I'm floored that people are still willing to bid on this.
honestly it's Boolean.
either he succeeds or he doesn't, there won't be any grey. It's possible he never gets a reverse merger completed or decides on a business that he things fits here well.
So the risk to me is that I may lose all of my investment, but at this point the upside is many times my investment. My opinion also is that there is a good chance he will succeed. He is doing it the right way now. Ignoring the market and focusing on the business and keeping the company "mouth" shut until there is something to report.
I've seen a few people comment on Fierce, and I think that stays separate. Fierce isn't going to have much value to add right now, the last movie produced by that production company was the flop "a good old fashioned orgy" (2011) the most successful was "War" (2007), but 8 years is a long time for a production company to be dormant and none of those movies should have a very compelling revenue stream at this point (although Fierce probably still gets some residuals as I see them on cable pretty often).
It wouldn't surprise for BRSE to end up having nothing to do with movie production.
I agree with this.
I think he has done all the explaining he will do on the mistakes of the past. In the times I've spoken to him he made it pretty clear that those mistakes were ones he would not repeat, but you can't back in time.
His initial strategy to try to overcome the burden of a huge float and pathetic trip zero stock price was to get a very cheap deal on framepool at a time when they were going downhill, help them get back on track then complete the acquisition. Unfortunately they went bankrupt instead and the German legal system took over. Someone else outbid the BRSE for framepool and that was that.
I think what he learned there and in some of the other failed joint ventures is that with 8 billion shares and a trip zero stock not only do you have to deal with all the typical OTC bottom dweller garbage, but you also can't raise money. Private Investors typically don't want to give a million or more dollars to a company with that kind of share structure and price. He'd have to issue a billions new shares to raise 1 million dollars. not going to happen.
Which is why the RS was smart. He is looking to the future. I think this is a very cut and dry investment. Either he will work out a new business model or Reverse merger or he won't. But it will be announced all at once when it's done. If it's not a reverse merger then probably outside private financing.
Either way the price will stay around here, because the float is so low. If it ever does pay off I expect it to a PR one day and price gapped up way higher than it is now. It won't be a long slow climb IMO.
Remember also Christopher has a long history working in high level financial situations.
Still over valued.
anyone trying to value this stock should factor in another couple billion shares and the next RS.
I believe that by their actions, filings and silence they decided last year sometime to simply let all their debt convert and they would RS in March and then again late this year or early next.
So for me this stock is dead until the next RS is complete.
This is my opinion of course.
Sprycel, is that you?
just kidding, but you really seem to have more of an axe to grind here that the current facts substantiate.
Christopher has been very careful to avoid pumping or any promoting this stock since the RS. He's kept it current while he works on a future direction, so for the most part the few shareholder there are can just hold and wait (if they believe in him).
BTW you keep saying you don't understand why the RS happened, and it was obviously to get the stock out of the trip zero hell hole it was in before. The only mistake Christopher made with the RS is that he didn't do as soon as he bought the company.
I don't like bashers or pumpers, and I hate to keep posting on a stock I've dumped all of a while back, but.....
I consider this a public service announcement.
I'm one of many who believed this companies vision and management and lost tens of thousands of dollars in 2017/2018 averaging down, believing in the future.
There may be a future here, but it's not going to come until after the next RS. They have protected all the people they care about (acquisitions, insiders etc...) with preferred shares. Other than lucky flipping no one will make any money buying common shares of this stock.
Buyer beware, this is a huge risk with a company that has a solid history of screwing over common shareholders.
Wait until the next RS, look a their debt then and decide. Right now it's going to get uglier and uglier.
a better gamble would be to go vegas and bet it all on the Lions to win the superbowl next year.
The downside is that you will lose your money, but the plus side is you will have hope for another 3 or 4 months.
There is no hope here.
They've gone from 1.5 million float post RS to 31 million in 3 1/2 months (RS was on 3/25).
expect another 2000% percent float increase in the next 3 months, and on, and on and on.
They are probably already planning their next RS late this year or next. Eventually, maybe they will figure it out, but while they still have so much debt on books buyer beware.
Sincerely hope it works out for you.
When it gets to .88 look out.
A lot of us did that from .04 at 44 million share OS last april all the way down to .0001 at around 2 billion and 1500 to 1 RS this year.
At some point the saying needs to switch to don't throw good money after bad.
Looks like they will dilute the rest of there debt and RS again.
Best of luck .
My condolences.
I'm with you. And the share buy back will also give the stock strength.
yea, picking up.
Regardless of where is closes, 81 thousand is a big volume day for this stock. Avg daily volume is only 40 thousand according to OTCMarkets.
and as you mentioned all this on a summer Friday. Can't wait for next week!
Wow, word is getting around.
I wonder if the sellers know what was just announced. daily volume jumped from 12,000 to over 60,000 in the last 45 minutes.
This could heat up fast.
This stock needs more eyes, there are garbage stocks that would soar with a 47% float reduction announcement.
This one has only 4 posts on iHub since the announcement and 2 of them are from me.
Wish they would issue a corresponding PR to go with the tweet.
Looks like the TA messed up on the auto update on 6/26 and corrected it on 6/27.
here is a tweet from equijohn with a screen capture from 6/26.
$CDIX #Buyerbeware the company continues to dump shares and destroy shareholder value. Management seems to coordinate PRs with toxic debt conversion? @CardiffLex @rollan @SEC_News @flipnrips @ChrisEBarkley @OCDrises pic.twitter.com/7xLKLuETmv
— John Equi (@equijohn) June 27, 2019
Yea, that is big.
going from 42 million shares to only 22 million. Company is buying back and retiring 19 million shares.
that should effectively double the value of each share I own now, even without there being other new revenue or news.
GLTA!!!! with $WUHN
.20 a share, not .40.
well, when you want to cash out your shares, and no one trusts to hit the ask, 2 million shares in a 3 million float will drive it down a lot.
Would you trust them and slap the ask right now? I bet most bid sitters dumped as they watched it slowly crawl down from about .06 since the RS.
Another point, and I actually kind of hope someone from the company sees this.
It looks like their strategy is to insulate their acquisition by using preferred shares, and not subjecting them to the RS.
In their last 8K they even announced a program for investors to buy special preferred shares from them, so they aren't hit by the next RS. Here is the text from the 8K.
"Additionally, Cardiff has allocated a Preferred “G1” Class Series for potential investors – 10,000,000 shares authorized, par value $0.001 per share with the following rights
and privileges no - voting rights, converts to common stock at a ratio of 1 share preferred to 1.25 shares common. Series G1 stock cannot be diluted due to actions taken by the
Company, BOD and/or its shareholders."
So basically they are telling anyone that buying shares on the open market is a mistake, they will RS again, probably this year.
The issue is that when this is all done, no one in the market will trust them. Sooner or later someone has to be willing to buy their converted preferred shares in the common market.
It won't be me.
The float was 1.4 million 2 months ago. It's proportionally much higher now.
In a PR a few weeks back they announced 500,000 shares converting for debt.
So it's smaller numbers now but if they don't get their act together it'll be 10s of millions, then 100s of millions then billions just like last time.
under a penny now.
wow.
Nice post.
This company has the best financials I've seen in a sub penny stock in a while. Obviously running a business that is growing and seems to be doing all the right things.
Looks like dilution trickling in and driving this one down again.
what a shame. so much potential this time last year.
I've been "loading cheap shares" since the high .002s....
i'm waiting for low trips now.
Honestly I think this is a company doing it's thing with no consideration whatsoever for shareholders.
If they finish getting current, and have some great announcement that is what spurred all this on great for us.
But I've emailed both sabers more than once, they never answer. They don't have any IR nor do they seem to care.
Any shake out is imaginary, it's just people buying when there is a filing then losing interest in the weeks after as the company ignores shareholders.
I'm pretty certain the only shareholders they give a crap about are themselves.
But, if they are greedy, and make money on this ticker then so will I.
hot down in here in the south.
also quiet.
Can you imagine what would have happened with this share structure and the recent acquisition announcement if the company hadn't already burned every potential investor?
I hope they initiative a plan earn investor trust again, so that those of use still holding shares have a chance to recoup from the massive losses inflicted on us over the past year.
the only thing I'd add is that they don't need an attorney letter.
They are SEC reporting, so their annuals have to be audited. If you look at the annual for 2017 it was audited by Anton & Chia.
That's probably why the filings are being spaced out, the auditors need time to do their work.
But it is also a big plus, no scammy reports rubber stamped by an OTC lawyer, audited reports filed in edgar for SEC reporting compliance.
Sure wish they had any kind of IR.
I'm still holding here too.
And Go Blue!
I haven't, and I've emailed them 2 or 3 times in the past few weeks.
To me it seems like whatever is going on, shareholders are either an afterthought or not a consideration at all.
Pretty frustrating to be honest.