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I noticed a pattern since the last Korea newswire PR, the company no longer communicates with investors through newswire PRs. Management only uses SEC filings now, and in one case, a PR published on their website only.
personally I am not expecting management to release any newswire PRs in the foreseeable future, only SEC filings, unless there is solid good news.
maybe they have been warned that the pumping they have been doing through PRs can lead to lawsuits!!
Unlike most here, for me it was always how bad the 10Q is going to be, not the other way around. Nevertheless, I see 4 positive things in this 10Q going forward:
1. The 143,256 Deferred Revenue = software is selling although much lower than management "projections"
2. ABHI was able to sell a portion of their business for almost twice the current market cap of the company: "On December 18, 2015, the Company agreed to transition the production servers of the data center to PCD for a payment of $300,000."
This clearly means that Veloxum is worth a lot more than the current market cap.
3. These two statements: "Management expects its new business for automated optimization of software applications will generate more revenue in the quarter ending January 31, 2016 and continue to grow."
"We expect that revenues from our new business for automated optimization software application will increase once we launch our tool in the MSP and gaming markets in both the United States and internationally."
4. If I am not mistaken, they have not issued any convertible debt since late September and are now able to borrow money ($250k in October). If this continues and software revenue grows, we might see the end of dilution here. Maybe that's why the company did the RS with a low OS.
GLTA
where does it say current OS is 17 million! are you getting that by adding OS as of 10/31 to newly converted after end of Q1.
don't mean to disappoint you, but extension days for late filings are calendar days. 15 Dec plus 5 (calendar days)= 20 Dec. ABHI is delinquent in its SEC filings as of today!!
amazing the amount of misinformation here! read on!!
"When a company cannot file a 10-K or 10-Q within the given timeframe, SEC rule 12b-25 requires that the company must use an NT, non-timely, filing. An NT filing is a notice sent from the company stating that the deadline has not been met due to a given reason and that the actual filing will be filed within a specified range of time. An NT 10-Q filing provides an additional five days for the actual 10-Q to be filed. An NT 10-K provides an additional 15 days for actual 10-K to be filed. If these additional deadlines are met, the company is not penalized and the filing is considered timely.
If the deadline is missed, however, consequences may include loss of SEC registration, de-listing from stock exchanges as well as possible legal consequences. And there are other consequences to non-timely filings as well, that an investor or other stakeholder might want to take note of."
that's exactly the kind of answer i would expect from you!!
anyways, GLTA
highly unlikely!!
management issued these preferred so that the chairman and ceo continue to be majority shareholders (when it comes to voting rights}. converting would put that at risk.
my guess is that management is forecasting, when dilution is done and over with, to have 300-350m outstanding. this means we will have about 30m outstanding after RV.
CD holders know something is horribly wrong with management's revenue "projections", that's why they are dumping as fast as they can!! they feel soon there will be no buyers, period!!
unfortunately i am deep down n the red here!! worst management I ever encountered in the stock world!!
better wait after 10Q is filed to see if there is still hope for this stock!!!
the way the stock has been trading recently tells me there will be another deep dive coming soon!! hope i am wrong though, but i doubt it!!
someone is dumping real hard right before 10Q is filed. Very bad omen!!!
brace yourself for the worst of news!!
GL to all.
this trades like its going to file for bankruptcy soon!
Any guess on the outstanding today??? I would say minimum 150m!!
hiphop,
I appreciate your contribution here and i think you have some access to insider info that is not available to the public. so plz keep posting!
nevertheless, what puzzles me is why are you still in this stock if you have such a gloomy picture of the future of the company!!
short covering in progress!!
Did the outstanding stay the same since 10k was filed per latest filing?? if so, the reverse split could be good news though surprising!!
don't count on it!
i feel there is something sinister going on here with this silence. again, i hope i am wrong. maybe the next 2-3 weeks will be more telling.
i am not sure why people are in denial here that dilution is still ongoing. according to the 10K, there were over 44m NEW shares sold in the open market in the 3 months prior to 31 Oct. L2 shows that this dilution has not stopped and is ongoing even today as far as I am concerned!
it could be a story of a glass half full half empty!!
GL to all anyways.
I bet you he is the one who dumped the 800k yesterday and the 1.2m today!!!
we could say another 20m of dilution within 3 months if the price stays this low!!!
NITE's dilution is going to drive the stock down another 100% if the company does not release any updates/news soon. their silence can only be interpreted as bad news!!
No, i was not rushing into judegment. The stock action in the last 2 months is my answer!
Also, from the 10k:
"During the three months ended October 31, 2015, three lenders converted an aggregate of $216,580 of principal and accrued interest owed under certain convertible note agreements into 44,854,970 shares of the Company's common stock. The notes were converted at a discount to the trading price of the common stock in accordance with the conversion terms under the different notes disclosed in Note 12."
Only an absolutely incompetent management with a good product like Veloxum would let their outstanding double in 3 months when they owned over 52% of outstanding before that. now they own less than 32% or so!
PC Driver, their partner, got a significant legal ruling against them, yet the company have not clearly stated either in the 10k or an 8k how is that going to impact either their previously stated forecast for Q1 or the whole future of the partnership!!
dodgy management!!! we have to wait and see.
BTW I am fully invested here and have no plans of selling.
From the 10k:
"Note 4. Assets Purchase
Veloxum
On May 15, 2014, the Company acquired certain assets of Veloxum, Inc., (“Veloxum”), a privately-held company, relating to its enterprise software in exchange for 13,100,437 shares of common stock which was accounted as an asset purchase. At the time of the acquisition, the Company determined that the fair value of the common stock issued was approximately $5.2 million based on the trading price of the common stock at issuance.
The following table summarizes the fair value of assets acquired of $5.2 million:
Developed technology $ 4,423,375
Tradenames and other intangible asset $ 816,800
Total $ 5,240,175"
This explains why they have not released gross revenues for Q1 yet (as they did immediately after Q4). they also "missed" to mention in the 10k whether there will be any revenue from that partnership going forward!!!
with all of that, i believe they have a good product with great potential. trading at a market cap less than 1m is insane if you consider that Veloxum was bought for 5.2m before commercialization back in 2014.
A stock with good news coming does not trade like this. Hope I am wrong, but probably someone knows something we don't know. the dumping has been horrendous in the last 8 weeks or so!!
probably something that deals with the 2.5m loan agreement that ABHI is trying to sign.
Bollinger Bands have tightened hard in the last 2 days. That can mean one thing after a tank and sideway trading, like the one we been seeing here in the last few weeks: A big pop coming!!
took out 200k. i think thou he has more than 312k at .006
wasn't watching L2. just placed an order Thursday. I thought Thursday's close was painting the tape, but Friday??
the ask has clearly thinned, and there are almost no shares available below .007.
lets see what Monday brings.
GL all.
how much are planning to grab!! I was at .0054 for 2 days and only got 32k, my order was 50k. maybe there will be more shares at these levels next week, but I highly doubt it!!
Since Thursday afternoon, this stock is trading differently!! Much more difficult to get cheap shares below .0065.
GL anyways.
you got to be kidding me!! ABHI competition told you that!!
are you really a legitimate investor here! because if you are, you should take this as a positive thing. Competition is scared of the new kid on the block!!
please don't be a pawn in the hands of the competition! next time try to verify the info they pass on to you, or at least put it in context before you post.
So far, it looks like hihop is the one who started the "rumor" of coming legal trouble in the US. unless he/she can provide some other source for that rumor!! maybe there is an ulterior motive here!
hipho, again, can you provide any backing for that "rumor"!!!
appreciate your contribution to this board.
can you please back the below statement with some hard facts, links, or something other than rumors!!!
"and I keep hearing they are going to have significant legal trouble on the optimization market."