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that's not what he said
a 145,000 note matures in 6 days, a 100,000 note matured on 9/28 and is converting.
What he said was only about 210,000 left to convert.
Share Structure Update
Float 256,263,719
OS 291,610,923
Confirmed 18,481,383 new shares this morning
It was Shaggy, I just know it.
Don't believe what he says.
Please quit making stuff up.
quote "CDIX has been undervalued for 8 years and the PPS continues to decline even with the best PR news.
Cardiff as it exists right now, was formed in 2013, so it's only 5 years old. Between 2014 and 2017 annual reports the revenue went from 890K to 1.7 million and the market cap ranged from 750K to 2.5 million.
Right now is the first time in the history of the company the market cap as been 10 to 15 percent of revenue. The next set of financials will be the first to ever show this kind of cash flowing through the company. For someone who keeps harping on history maybe you should actually read the past financials before you contradict them.
I think you are correct 'zilla junior!
The OS went up by 12.3 million on Tuesday 9/25.
It is 273,129,540
The float is 237,782,336
Don't know if the company read here or not, but the conference call won't clear anything up unless they have answers about convertible debt.
I really hate that they only put debt detail in their annual report, and just put vague updates into the quarterlies that only obscure the debt situation for shareholders. You can read the annual report and understand exactly what the debt situation was then.
Then you read the next two quarterly reports and just have to guess, because the don't include any specific details.
I know they say they want to be transparent. Let's start with that guys.
Convertible debt is what has dragged this down, convertible debt is what still has the potential (on paper at least) to kill the company completely.
It looks like good stuff is happening, but without tangible updates from the company real investors and shareholders are in the dark and unsubstantiated rumors continue to influence the stock price.
This is not meant as a complaint (only) it's meant as a suggestion. Be prepared to provide specific details about the current debt, it's structure, and the disposition of all the convertible notes detailed so well in the annual.
QB Status Information
I thought I saw some questions about CDIX QB status, and honestly don't have time to sort through all the meaningless posts on here to see if it's been answers so here is the CDIX calendar and the rules.
CDIX Calendar
7/20 Start 30day timer (first close under .01)
8/19 30 days end and grace period starts
11/17 delist to pink automatic
Also worth noting that the rules state 5 days in trips is automatic delist to pink.
Below is the rule on bid price deficiency. Reference https://www.otcmarkets.com/files/otcqb_standards.pdf to see for yourself.
Bid Price Deficiency. Companies are granted a cure period of 90 calendar days for failure to maintain the minimum bid price set forth in Section 2.3(2). In the event that the minimum closing bid price for the Company’s common stock falls below $0.01 per share for 30 consecutive days, a grace period of 90 calendar days to regain compliance shall begin,
OTC Markets Group Inc. OTCQB Standards (v 3.0 May 20, 2018) Page 11 of 16
during which the minimum closing bid price for the Company’s common stock must be $0.01 or greater for ten consecutive trading days. In the event that the Company’s closing bid price falls below $0.001 at any time for five consecutive trading days, the Company will be immediately removed from OTCQB
"I can't make this stuff up"
Actually that is exactly what you just did....
You are right sorry. 9/10 about 9 mil. About 5 mil in progress today.
Hopefully over soon.
more than that.
11.7 million on 9/5
10.3 million on 9/7
8.9 million on 9/11
around 5 million today, when it finishes.
I think you are right, but that's all stuff the company has stated it intended all along.
So I believe they are trying to do all that. Looks like the trading patterns confirm some success, but all the nonsense where people claim to have inside information is usually manipulation by 3rd parties.
The company give us the info in filings. I think this goes way up from here, and am holding for it.
To me it's not disgusting, honestly it's what is expected based on the filed reports and the delays closing the acquisitions.
All the pumping and bashing and playing on peoples hopes and fears is disgusting.
The noteholder both shorting, dumping and probably hiring people to post here is disgusting.
honest, naïve people getting into this and other stocks without understanding the risk and the environment is bad too. So to those people, if you read this, don't take anything said here as truth, always read the financials and verify for yourself (this includes my posts, as I'm sometimes wrong).
Share Structure Update confirmed with the TA today
OS 239,333,763
Float 203,886,559
Restricted 35,347,204
8,964,570 new shares converted yesterday
Another ~5 million in progress, likely to convert after hours today.
Just posting this update because a lot of conjecture is being stated as fact, and I want to try to offer some objective viewpoints for people who may stumble across this board when trying to research the company.
Below are the observable facts:
1. The company has stated in a PR that they are trying to eliminate convertible debt where they can.
2. Debt is still converting, but not as fast as it would have if the company hadn't had any success in curtailing it.
3. Convertible debt is still an issue affecting day to day trading of the stock. There have been new shares converted 3 of the last 4 days, and will be more.
4. It is unconfirmed by the company, but observant traders have noticed new money coming in an propping up the share price which is assumed to be friendly investors assisting the company in sidelining converted shares and preventing the toxic debt spiral into trips.
5. Someone, presumably a noteholder willing to break the law, is shorting this stock. Yesterday there were over 5 million shares shorted and uncovered.
6. The company itself seems to have a turned the corner at this point, where most of us who have done research, are no longer worried about it surviving, but rather trying to predict when the stock will be healthy and reflect the value of the company. When this happens the price should correct to well above the levels required to stay QB.
someone stated earlier that it was a fact that only one noteholder remained. That is obviously wrong. Any single noteholder would not bother to convert small amounts of shares 3 days in a row. There are at least 2, and may 3 notes still converting. Doesn't mean that the morons bashing this stock are right about their bottom predictions, but the truth is that none of us actually know what the debt situation is because the company hasn't disclosed it.
My opinion is that 2 or 3 notes are converting, the rest are either willing to wait for much better days, or are paid off or making arrangements to be paid off.
I think that 3 or 4 notes have already converted out.
I think that there is less than 50K to convert if it's two notes and less than 100K if it's 3 notes.
IMO There is plenty of risk for day traders here as the PPS will remain volatile until the conversions are done, but if you are long term investor any of the prices in the past few weeks or next few days will be very profitable.
But none of this is magic, the company will still have to work hard to finish digging out of this, but thankfully it appears they dodged the worst outcomes, and are in position to make all of us some money.
doubt anyone will bother to read this far down, but if you do GLTY and realize that some posting on this board work for noteholders and are trying to manipulate and influence people.
Hey now....
That hit a little close to home.
What I can't believe is that he has a follower....
Learned it from Richard Pryor in Superman 3
There are a number of people on this board that make sense, I don't think I'd include you in that list, as your posts all seemed aimed at manipulating people to your goals.
Fortunately, I don't think anyone still reads your posts.
While I appreciate your sentiment, that's a waste of money at this point in my opinion.
Until the company clarifies the debt situation, and the dilution is finished, buying noteholders shares on the ask is losing proposition. They will keep selling into the bid, and will make significant profits well down into the .002s. Why give them any extra money by buying at the ask?
They are going to drive down the price, cover shorts, and convert more until they are out of convertible debt.
Done. Also confirmed with the TA this morning that the numbers are still accurate.
yea, the problem with following the money is that I'm still not sure where it's coming from or why.
For instance that day with the 55 million volume, 25 million of that was short sales, which is more than the outstanding converted shares at the time.
That 'event' felt like a friendly investor trying to help cleanup the float, but they actually were buying a bunch of shorts on the ask.
I really, really hope that whatever noteholder is shorting and dumping gets burned big time here. They deserve it.
That would be nice, can't shock an awe until the convertible notes are all dealt with though.
Last time they blew us away was 7/12, and it was bitterly disappointing for both the company and the long time loyal shareholders. I hope the company has a plan in place to either negate or finish all conversions before the next PR that provides a reason to buy.
Someone is also still shorting this stock. over 1 million uncovered short sales yesterday.
yes, there is still a lot of dilution as discounted shares are sold.
It sucks that the discounts are so big, that the noteholders can take half the going price and still make more than their debt+interest.
Another 6.3 million shares shorted today, too many for them all to be broker/dealer trades to the noteholder (or someone) is still shorting at this level.
I think it's a dangerous game, and one I wouldn't play. I think Cardiff is close to a debt solution where they may have a problem covering profitably.
I sincerely hope that CDIX management has a way to boost demand and share price and make the people/group shorting pay big time.
I see whining about shorting all the time, and mostly it's just notes converting and dilution, but in this case there have to be millions of shares sold short in the last week or so. And some of them are still not covered.
Float is 148,737,126.
7,876,298 added to the float.
25 million shares shorted yesterday, which was far more than the noteholders had, so again so real shorting yesterday. Looks like the noteholder is still trying to screw over the company. Also looks like some big money has come in on the company side yesterday for sure, maybe today too. No way 40 percent of the float turned over with at least 10 million new shares dumped yesterday against the same set of us that have been here the whole time.
I think the company may be getting it together for a push out of the bottom dweller area and back up to respectability.
Travelling so don't have the time to read through all the posts today, so if this is old news I apologize.
Crazy volume today, so I checked with the TA. No new conversions the float is still 155 million.
Looks like a new player is buying a lot of CDIX, probably a lot of retail buys too. Volume today is enough that with no new conversions we may get to ride a correction up to fair market value for the company. I added more today, I'm sure a lot of you did too.
I sure hope we are done with dilution, today is an indicator we are, and someone is buying up the last of the noteholder shares.
GLTA with $CDIX
Actually this is 100% about dilution...
And your right it won't last forever.
IMO, Eventually (probably in the next couple of weeks) this is going to hit bottom and rebound.
All I've been saying is that isn't going to happen this week (it didn't) and probably won't happen next week either. Too much dilution.
And before anyone tells me about 100s of millions of shares of dilution in other stocks, it's all relative. This company had a float under 50 million 6 weeks ago. It's more than tripled in that time, and without the company addressing it, people should be cautious before rushing in. Companies that triple their float in 6 weeks are going to create a supply/demand problem regardless of how many shares that is. This will take some time to recover.
Toxic death spirals do happen to companies in the OTC. I think CDIX is going to avoid that, but it will be by a narrower margin than some people are acting.
You should feel free to invest in whatever way you are comfortable, but to belittle people like me, for sharing our research with this board says more about you than it does me.
Best of luck you and have a good weekend.
To the rest of the CDIX worlds good luck to you, I think eventually we will be glad we found this investment, but I also think it will get worse before it gets better.
If .0029 holds, but worst case is that it doesn't. If it's only 1 note, then double the float might be an overestimation. but still 250 million is very realistic.
They've been converting in small tranches, the largest was 25K, I think with a 60% discount (I believe Note 14, which was 40% discount it done).
They've done conversions now against .004 on 8/17 and against .0039 on 8/22 and against .0035 on 8/23. The conversion price for the .0035 close is .0014. I believe they will push the price down as low as .002 with their current shares (unless something big come from CDIX) and then continue converting.
The conversion so far are actually only worth $37,815, I suspect the note converting is Note 18 which was $83,500 @ 12% interest.
So they convert 25K next week against a close of .0025 that would be 25 million shares, then convert another 25K the next next week against a .002 close that would be 31 million shares. At that point they will only have one more tranche left, probably under 20 K (remember these conversions are against principal and interest). If .002 doesn't hold against 31 million shares (and it might not) that last conversion could be discounted down into trips. if the last 20 K were to convert against a .0015 close that would be another 33 million shares, which would have us around 230 million float by the 2nd week in Sept.
the other thing is that if there is a 2nd note converting (Note 19 matured on 8/21) then that could be another 80K to absorb. I actually think a second note is converting because we had 6.1 million added on 8/22 and 5 million on 8/23. There is a per transaction fee for this that's about 1,000 dollars so I don't think the same noteholder would do conversions on back to back days, they would just do a single transaction to save the fees (fees both to the T/A and the broker/dealer).
All of this is just speculation though, the company could come through and surprise us all. I hope they do.....
At this point they will probably just let it convert out, and hope there is buying support to keep the price above .002.
If you look at the notes it could be, they are all under 100K, so it's probably about 1/2 done now. The thing that really sucks is that the other half will probably double the float from here converting out.....
I've said it before, CDIX can't reverse split. It will ruin their business model.
The only way for the company to survive is to weather this as best they can. Then rebuild from whatever PPS and SS they have after the conversions are done.
The only variables in there are how much debt gets converted, how much they are able to pay directly so it doesn't convert, and how ruthlessly destructive the noteholders converting are.
I don't 100% know they covered but here is what has happened on the Regsho since 8/17. You'll notice that on 8/17 to 8/22 there were a sum of 2.7 million more shares shorted than could have been covered in total volume. So that means that someone was actually shorting the stock, as opposed to the shares that show as shorted in the normal ex-clearing sale process used by MMs and broker/dealers for selling rule 144 shares. Then on 8/23 there was an excess of 3 million shares over what would have been required to just cover that days short sales. My guess is that entity shorting from 8/17 to 8/22 covered yesterday. I can't know that 100%, but it's a reasonable guess. Leaving uncovered shorts on a stock this low and this volatile is a risk, even if you have millions of shares to dump.
If you look back at this stocks historical trading, that number of uncovered shorts is an anomaly, which only started with this notes conversions on 8/17.
The other thing to note here is that with 24 million new shares converted since 8/17 there are probably 17 million left to sell into the market. So you will see rallies like the one this morning get swallowed up by the dilution until it's all gone.
Looks like whoever was shorting the stock since Monday covered yesterday.
It will be interesting to see if any recent posters stop posting now.
Headline reads:
VFIN swallows rally whole!
The form D was good news, but was only confirmation of what I already believed, which is that the company is trying to get the debt under control. This was money from 10 days ago, presumably used to pay off one or two convertible notes.
There are still well over 12 million shares already converted and waiting to be sold, after this morning dump by VFIN.
Before we will see any sort of sustained upswing the conversions need to be completed.
The talk of dilution is not talk, it's just observations. Almost all the volume is on the bid, and shares are converting steadily.
I apologize for saying you aren't a real investor, as it appears you posted a picture to show you are.
But regardless, your insistence that paying attention to dilution is a waste of time in the OTC is not logical. If you know 50 to 100 million shares are going to get added to the float over the next couple weeks, wouldn't it be smarter to hold off on bidding until the end of that dilution?
Stock price is down to .0032 now, obvious watching the action today, million of shares being dumped into the bid. Probably all dilutive.
I agree there will be a rebound, but I disagree that this is the bottom that rebound will come from.
Best of luck to you, again sorry for saying you didn't own shares.
There is no way I'm going to click on a link you post. It's probably a honeypot to track my information.
I think that is exactly what happened.
if you look at their annual you can see they had 12 convertible notes up through mid 2017, all with lenders that were patient, didn't convert while they were building, and to date still haven't converted.
I think they just hit a wall where all they could get were the loan shark convertible lenders, but they didn't have the experience we do to know how damaging a bottom feeding OTC sub penny lender can be.
except he hasn't.
this noteholder started converting on Friday 8/17, this guy started posting pump and dump type posts on 8/21. I doubt it's a coincidence.
Yes, we will wake up and smell the penny stocks.
a world where boiler room posters try to influence stock prices so that corrupt entities can profit off of inexperienced traders.
Share Structure update:
Float 140,860,828 up 5 million shares since yesterday. Over 2.7 million uncovered short sales since 8/17, probably more after today.
I can totally respect that decision. Best of Luck to you.
I'd set a price alert on this, if it gets to .0012 in the next 10 days, it's probably worth watching it closely for a week or two and picking a spot to get back in.
Feel free to reference another stock in here, people do it all the time when drawing comparisons.
It's not off topic when done in that context.
Not sure how much faith we should have in your experience though. You've been posting on this forum for less than year, and showed up on this board 2 days after the current noteholder converted their first 13 million shares.
Your posts all read like traditional PnD BB fodder, and honestly I doubt that you own 1 share of CDIX.