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.
Well, it could got down, it could pop.
no bid is not a prediction I'd hang my hat on though. The notes are on the back half of converting now, and the bid support to keep the bottom at .0008 has stayed strong.
It will be interesting to see how the market reacts to the downgrade to pink sheets this week.
I called the TA today to get an update on the SS.
here are the numbers
OS 55,448,496
Float 4,757,832
Restricted 50,690,664
it was
OS 55,448,496
Float 4,809,832
Restricted 50,638,664
So about 52,000 shares were moved from the float back to restricted.
Not a big change, but the float got a little smaller.
Thanks for the reply.
In the past they have not updated debt details in quarterlies.
They usually have a paragraph with non-specific updates that you can't track against. Only in the annual report to they provide details in each note.
Maybe with the new auditor that will change, but I doubt it.
Just curious, here. Aren't the PP people only playing with a fraction of their shares at this point?
So they are selling off some percentage for the bird in the hand they can get right now, but will be able to convert more later, presumable when the price is higher?
Or were there only 3 million PP shares and they have all converted now?
Nice follow up message, I appreciate it.
I've averaged down so many times, if we get half way to my first entry point I'll be very happy!!!
I've been in in this since March, so my guess is that I'm much longer in the stock than you are. Bought my first shares at .0324 (on a dip from .04).
My point was only to provide correct information to fellow shareholders, since I am tracking the dilution for my own research.
You can do whatever you want with the information.
Its the dilution. Even with a float this low, when the float quadruples in less than a month the supply side of supply/demand is too high.
Need for the dilutive sellers to finish before this goes up, unless there is some sort of catalyst that spurs buying.
Until then smart traders will only sit the bid, and wait for dilutive sellers to fill.
Just called the TA, the SS has gone up again.
Yesterday it was:
OS 498,671,523
Float 463,324,319
Restricted 35,347,204
Today it is:
OS 515,434,930
Float 480,087,726
Restricted 35,347,204
Just make me pine for cow bell.
Just called the T/A here is the updated share structure.
OS 55,448,496
Float 4,809,832
Restricted 50,638,664
OS stayed the same, another 664,001 shares moved from restricted to free trading.
Not a lot of shares still, but the old supply/demand rule is giving the people who want to cash out no choice but to hit the bid. Been the same small trickle of dilution for a couple of weeks here, and because there is no catalyst it's enough to hold it down.
for now, at least.
Yea, it sucks in the short term, but the SS is still amazing....
Share Structure update:
OS 55,448,496
Float 4,145,831
Restricted 51,302,665
11 million new shares in the OS, and float grows from 2.9 million to 4.1 million.
Still low, but the float had quadrupled over the last 2 weeks and the new shareholders seem willing to cash out at the bid. I think that is what is keeping this down (that an not any buying pressure).
At least most of the mindless pumping seems to have stopped.....
for now.
almost 90 million shares added in the last two days. The noteholder seems to be getting more aggressive with conversions.
I hope the price holds up some, but so far it's only dropped bit by bit for the last 3 1/2 months
CDIX SS update from the TA as of 3:45 PM
OS 462,821,907
Float 427,474,703
Restricted 35,347,204
18 million new shares added this morning.
I completely agree with you on the potential, I'm looking forward to better days in the future and now is a good time to get good deals on this.
even a small amount of dilution (from wherever it's from) is often a great opportunity for buyers to get good deals and average down.
I sure didn't mean to start all this.
I totally disagree with you on the point about CDIX going grey, It'll go pink current for a while, but it's just way too undervalued from a market cap perspective to stay this low once the dilution is really and truly over.
They've got good revenue, but made some horrible decisions in terms of debt they took on.
My main point earlier in the day, is that people who are calling for this to reverse right now, or who are saying the dilution is over, are just wrong. The time to buy this is still a ways off.
If you wanted to hope for anything it would be that, maybe, when the quarterly report comes out it will be good enough to raise some awareness and chew through a good chunk of the dilution.
I still own some, and I will be a buyer at the bottom, and not for a quick flip.
But IMO anyone buying today and holding for more than a 1 or 2 tick flip is going to be in the red, before it recovers, which won't be in the next few days or probably even the next few weeks.
I'll also say this, I don't think the management is crooked or dishonest. I think they made some mistakes, and then vastly underestimated how ruthlessly the scummier OTC convertible lenders are. They have severely damaged their company, set it back months if not years, but I don't think they've destroyed it. I think it will recover. But they've burned some bridges with both investors and potential acquisitions.
I also think that the RS rhetoric is too soon. They may do one next year, but they may not. The stock can for sure get back over a penny, even with a billion in the float, because they have good revenues without making another acquisition.
I still won't buy until the dilution is at least 80% over, but I will buy again, and plan to hold. Just not right now, I don't think right now is a good time to buy.
unless the company finds deep pocket to prop up the price or initiates their own buyback program it will go deep into trips.
There is anywhere between 145 and 160 thousand dollars left to convert into shares. they convert at a 60% discount of the low close for the past 10 days at the time of conversion.
So right now that is about .0004.
In this case it is shares of the stock that were restricted, but were registered with the TA to move from restricted into free trading.
They are now book entry shares, rather than restricted cert shares. As such they can be traded.
Would appreciate the link to your post though, I'd like to read it. Never too old to learn something new.
1.3 million shares were registered into the float on 10/30.
while they could all be private placement, it's unlikely since it coincided with the other announcements around the shares.
Don't get me wrong, I'm in this stock and want it to soar. I think it's got a good chance.
I think that while these shares are sold it will stagnate though.
today was an indication of that, as the first trading day since the conversion and the price tanked with someone even dumping 9K into the .40 bid at one point.
That's wrong.
The float went from 1,499,026 to 2,891,028 on 10/30.
There are 1.3 million new shares in the float.
The float is still great, super low, but no need to sugar coat it.
looks like we will see some shares dumping as the new management cashes in their free trading shares.
Someone is dumping shares, and that 16,500 T Trade makes is look like the new CRX folks are taking some of the money they have coming to them.
The acquisition was 100% stock, so they may well cash in all the new shares in the float in the near term.
I called the T/A.
That's the only way to keep up with a stock that is diluting this fast.
I've never intentionally misled anyone about this stock.
if you don't believe me you can call the TA yourself.
Standard Registrar & Transfer Co., Inc.
440 East 400 South
Suite 200
Salt Lake City, UT 84111
801-571-8844
www.standardregistrar.com
Are you trying to mislead people on purpose?
68 million new shares issued after hours today. selling not even close to done.
float is now over 408 million and the notes aren't quite half way done converting.
At this rate the float may well be over a billion by the end of November.
smart not to be sure.
Bottom won't be in here until the dilution stops.
Another 68 million shares converted today into the float. They will start selling tomorrow. It's going to be brutal.
Dilution between now and Feb, is maybe 1/2 way done after today.
Anyone calling reversal, or bottom is either ignorant of the facts of this stock or intentionally trying to deceive people.
Current SS:
OS-------------444,093,886
Float----------408,746,682
Restricted------35,347,204
Charts are meaningless right now. This stock is diluting way to fast for any chart patterns to be reliable.
I don't know what the future will hold.
I firmly believe friendly investors have absorbed 10s of thousands of dollars worth of dilutive shares.
My assumption is that they are being loosely coordinated by the company.
The numbers are simple, if these investors have another 412,000 dollars they can keep the stock out of trips. If they don't it will crash.
Retail won't keep this up. No normal OTC investor would be willing to take that risk.
That's true a 339 million float is low.
Most of us who have been around it agree that it's undervalued.
The issue is supply and demand. The float is 339 million now, but growing fast. So it's not safe to evaluate the investment based on the chart (anything diluting heavily always looks oversold).
Supply and demand will rule the day here. Remember that 3 months and two weeks ago the float was 49 million. That's 290 million new shares since 7/12. About 20 million news shares per week and that number is ramping up as the price drops.
When the dilution is over, we expect the float to be between 700 million and 800 million. We expect all of the these shares to dump into any rally until they are exhausted, as that is what this noteholder has done for the past 5 months or so.
If that is the case, then it should be a good investment at that time. The unknown is whether the price will hold up. Absorbing another 375 million shares at this price will require $412,500 new dollars to invest in this stock during the dilution.
There is evidence (not substantiated directly by the company) that there are friendly investors trying to absorb shares and prop up the price, but they've been steadily retreating over the past few weeks.
If this breaks into trips, the shares structure will probably collapse, the existing AS of 2 billion will not be enough. There's not telling what the company will do then.
So I guess buyer beware.
Call the TA, a lot of us call them every day or two in order to keep up. You'll need to do it on Monday, they close at noon mountain time on Friday.
I got those numbers from the TA yesterday.
Standard Registrar & Transfer Co., Inc.
Transfer Agent
440 East 400 South
Suite 200
Salt Lake City, UT 84111
801-571-8844
www.standardregistrar.com
There is between 165 and 190 thousand dollars still to convert into shares (this is from the original 245,000 + interest). The conversion is at a 60% discount of the low close for the past 10 days.
The low close is .0011.
60% of .0011 is .00044. So if the stock doesn't go down from where it is right now that will be the conversion price.
Let's assume the lower dollar amount just for illustration. We don't know the exact amount as the company isn't disclosing any debt status outside of annual reports.
165,000/.00044 = 375,000,000 shares. So that is minimum number of shares still to be added from the conversions over the next few weeks.
Float is now 339 million. Your numbers are about 2 weeks old.
OS 375,311,217
Float 339,964,013
Restricted 35,347,204
Company told me that both notes were with the same noteholder, so all of the sales should go through whatever MM their broker dealer uses for ex-clearing trades.
I think between $70,000 and $90,000 have been converted.
So the first note should be close to done.
You still keeping track of the conversions?
I think its about 1/3 of the way done after today. Another 32 million converted today.
OS 375,311,217
Float 339,964,013
Restricted 35,347,204
That's 102 million new shares since 10/3
That was last week float up to 300 million now.
Many others have done it, but I called the TA for myself and confirmed the SS is:
OS 44,448,496
Float 1,499,026
Restricted 42,949,470
with any buying pressure at all this could go way up. The company has less than 1 million dollars on hand though, and will continue to raise capital through private placement of restricted shares.
The main thing we need is some hint that there is more going on than just a name change.
All eyes should be on this one, because it really could be big.
Wow, that is a low float.
Looking forward to some sort of update from the company.
am I rich yet?