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Assuming they still have purchase orders on their desk, it should be a relatively swift process.
I would think purchase orders were provided with the understanding the N-list approval process can take some time.
Nice. Glad to see they’re exploring some additional roads of revenue while they wait for the EPA approval.
The 10-Q covers that they lease a production and bottling facility.
A lot to digest here on both fronts. Not having the cash flow to pay salary without using convertible notes is not necessarily a sign of toxicity within the OTC, but I agree the situation isn’t ideal.
A company buys their Icarus wings when they get into the OTC market, and some melt. I think it remains to be seen substantively what the outcome will be here. If they can actualize on their purchase orders for the GSA distribution contracts, the convertible notes, while not on the best of terms, are still only in the 20k range per. That really suggests to me they are trying to skirt as low as possible before they get through the List-N very with the EPA.
Again, I agree the situation with Optemus isn’t ideal, and I do wonder if that is a result of less then ideal preliminary consulting. The team seems to have a plan and the contingency at the present for shareholders is their ability to execute the EPA approval and form-10 without taking on excessive convertible debt. The share structure could move to 100m+, and if they end up executing their plans, we would be heading for blue skies regardless.
As I keep preaching, we are ultimately speculative on both sides after a point. This launches or it doesn’t like most everything else on iHub.
Here’s hoping for the best.
Agreed.
We’re dealing with an OTC company. You want to see skin in the game. I did some digging on the IR firm, and they look to be entirely legitimate.
The BNOW board is also getting more active on their Twitter with shareholder questions, so I’m thinking we’re nearer to the end than the beginning with regards to material releases.
Contracts will follow list-N certification. Likely the EPA labs are backed up with the pandemic putting extra demands on them.
I sat for three months waiting on SIRC, and I almost gave in and sold at $0.025 at once point. It ended up going to $3.00.
We’ve done our DD. Now we wait to see plan execution and results.
I’m always skeptical when I see endless scam alert post histories on an account.
Still under the impression there is money to be made here. List-N certification will gateway a lot of revenue for us.
List N Certification is our golden ticket here. It is likely what the GSA contracts are contingent upon, as I have said earlier. When BNOW reaches that milestone, I’m willing to bet this will bullet upwards within a few weeks when they tack down those giant contracts.
Agreed. SIRC and OWCP both had to add some shares to raise money and bring volume, and they ran to $3.
There isn’t a conversion ratio. There is a dollar amount they are guaranteed to convert into.
Nothing in the conversation below is new news. Obviously it’s a coin toss like most pennies.
What I don’t understand are the groups of posters whose agendas are to only post negative news. Some of the comments have wide assumptions in them that cover very relevant knowledge gaps on our behalf as retail investors.
End of the day, if in a few weeks we can look at the Form-10 or check the EPA website, this will all largely be null and void.
I am giving them a week or so of lenience in case.
Not too worried about the current share price. This either launches when they start actualizing their claims, or we lose out.
They’ve messaged me back pretty quickly. Very professional and tight-lipped team in my experience.
Something to keep in mind that if they are not currently taking a salary, then they are being paid in shares, so it is in their best interest to see this soar.
Yeah, but they also run the risk of posting fluff PRs.
List-N EPA testing takes around a month to complete, and their form-10 is due at the end of the month.
As I keep saying, this will likely continue to stay here or go further down until they drop.
When it does, however, all this movement will have been irrelevant. We’re betting on their ability to follow-through with their claims. I really think the GSA contracts are contingent upon the EPA status.
It could definitely be something suspicious. Or it could be a PR mishap because this is their first public company. SIRC’s David Massey made several missteps on the road, but they ended up having awesome growth and solid revenue. Time will tell for us here.
The most recent PRs addressed this and said they were currently ongoing.
My best guess is that they put their beverage project dormant to pursue the DIOX+ since the sanitation market is booming right now.
Has been a dead shell that a fail reverse merge was pushed through, rewound, and then Boon Industries moved into. The most recent PRs state it should be out way toward the end of the month/early next month.
Real volume is so negligent that we are at mercy until they finalize the EPA news and drop the audits, and that will likely be another three or more weeks.
SIRC did the same thing a few months ago. Needed to raise money to get everything up and running, and it ran to almost $3.00 with a 100m float. I doubt we’ll need to approach anywhere near that number here; it’s just a point of example.
The business concept here is solid, and hopefully we’ll have proof of concept soon enough. In my eyes, we’re still in a leniency phase. They stated what their targets are and provided a rough timeframe. If they can execute, it rolls a lot of validity into their pending distribution contracts.
Likely claiming shares in lieu of a salary then. Nothing particularly atypical there.
It likely is. I’d say they are running some smaller convertibles to find themselves while they wait on the EPA to clear for GSA contracts.
I don’t even see a salary on the filings for either Justin or Eric, so this is likely running on a minimum cash flow as they figure out contracting, distributing, and overall revenue growth.
My guess is that we will likely be seeing an EPA record popping up for DIOX+ in a few weeks based off what the previous PR stated.
That coupled with the audits and uplist preparation should send us pretty northward. I’m expecting early April for those depending when they start the auditing process.
They are likely based off of a standardized value, so the conversion will vary depending on the underlying share price.
The only Series A conversions that have been made are payment for services rendered for the merger. The rest will likely be returned to the treasury like Tdgnts mentioned.
The big news right now is audits should land this month. With that comes the pursuance of an uplist, and with that, likely some more institutional eyes.
I believe series A shares convert 1 to 10. They also build the backbone of the share pool in most stocks. If in theory they did convert them all, it would add 187m shares.
I like what Boom has to potentially offer. If they can follow through on the uplist and contracts, and we don’t witness any notable dilution on the L2, then we win. If not, we lose and move on. The OTC cycle continues either way.
I follow a lot of Frack plays. They generally temporarily stay in Frack’s name for purposes of the merger process, and they distribute back.
Preferred A shares cannot be converted unless the majority of series A approves.
Their ability to actualize the uplist and these contracts will be telling to their underlying intents here.
Per the annual filing, those shares were likely cashed in to pay for services rendered to perform the reverse merger. The issuance to James Frack is in my best guess a payment (merger and acquisitions specialist). Ed Monte and John Forythe also received a conversion of a similar size, and were likely involved in the process as well.
Not to distract from your points about the sizable Preferred A shares still outstanding, but I do see reason for the currently accounted for conversions.
I’m on a similar page. I’ve done my DD and made my calls. What is important at the present is their ability to deliver.
If my prior speculations come to pass, I’d say we have nothing to worry about.
If they don’t, then the usual ebb and flow of the OTC comes stomping and we move on.
This is a game of patience. They mentioned in late January GSA contractors were evaluating the product, and now the EPA Phase 1. It makes me wonder what sort of conversation is occurring behind the scenes. The GSA is likely wanting a higher EPA certification before contracting.
Couple that with the uplisting intent in the most recent PR. Pennies generally uplist because there is institutional interest. This has solid potential to be a $3+ monster in the nearer term.
We need a bit more IMO. We’re weak in terms of the number of eyes on us and liquidity.
These Form-D filings are curious to me. Two on the same day for different dates?I’m betting these are required disclosure for the uplist, so I’m thinking the audits are around the bend.
My dude, it’s a report of a $105k sale that already occurred. Prob the 1-A being actualized. No surprises or concerns there.
And makes institutions more keen to invest.
The important part is when they drop, we make bank.
If any of you are concerned and have not spoken to David personally, you’re doing yourself a disservice. If CEO/board communication is an option, you should always take it as part of your DD.
I don’t know that I share the same sentiment. The uplist in on my backburner for this company. I want to see audits and acquisition news. Were this a more established company, yes, the uplist would take precedence, but it isn’t until the meat and potatoes of revenue land in the form of audited filings and acquisition closure. You have to have substance enough to uplist, and the aforementioned filings will provide just that. The uplist is just a cute bonus at the end.
Yes. They will be posted this week. The unaudited were used to meet OTC requirements as the audits were slightly delayed by COVID.
If they can provide doubled quarterly revenues and an acquisition this month, we’ll be flying high.
Likely not all 95m shares will be utilized, and they have a minimum 21 day wait from the filing before that can start selling shares. The previous 1-A only used about 25% of the proposed share number.
News will be alongside audits, and they are expected this week or early next week per David himself.