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Nearly 100 penny stocks were suspended last week due to poor filing habits and promotional campaigns. OTC guidelines for Pink Sheets listings have been heavily revamped effective today.
If promotional activity was the issue here BLLB with the new SEC scrutiny and OTC guidelines, would not be trading anymore. So again, that is not the issue being that such activity leads to suspension now instead of just CE's, stop signs, etc, even if just from people tweeting about them to build hype, though more so when the information circulated is purposely fabricated. So the issue is definitely lurking somewhere in the "not limited to" lol.
I for one am just hoping they are waiting for the close of this quarter to review the new companies financial statements as an ongoing business.
You legitimately posted the same single thought process so many times today, that BLLB ended up being one of the highest on the Breakout boards for the first time in nearly half a year. It's kind of funny when you think about it. lol
Also, BLLB has thus far still been available to trade on TD Ameritrade without issue but that could change at any time unless the CE is removed.
Awesome work, hopefully someone will be able to sticky this up top soon
A.K.A. Robinhood and other platforms were savagely wrecked in the media and lost users as a result of setting trades on various individual stocks to hold or sell only, so we felt that it would be unwise to do the same to an entire class of stocks, around the same time.
There is no lone "garbage rag" that has covered any penny stock in perpetuity every 6 months, especially not BLLB, being that trading remained entirely flat for years on end, so at this point that theory is just fantasy.
BLLB was under $.001 with a Caveat Emptor for at least 2 years until recently and three years in total. For three years people have made this same tired excuse and if it were correct OTC Markets would not have purely requested filings to have the Caveat Emptor removed and would have made the full reasoning known to the company.
I also hope it is removed but I think it would be more bullish to focus on more realistic reasoning.
People have literally been making this bs excuse for the CE being in place for no less than three years on this board. Please at least have a more reasonable "smoking gun" at this point because this ain't it.
Here's when people first started using this as the excuse in 2018. I'm pretty sure this isn't the reason at this point, lol:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=138931406
No, I definitely agree with you there with regard to custodian takeovers beginning while in defunct status. That is the early beginning of these sorts of plays. Just as BLLB was begun while in complete dark status.
I was just speaking to the fact that a private company would not seek to merge into a ticker that is not in good standing with the OTC Market. The merging entity pays for the benefit of being merged into a reporting ticker, hence BLLB waiting for Current status, prior to such an announcement.
I too expect some significant price per share growth on an up-list announcement, at minimum just because it would be able to be more widely traded. E-trade alone being switched from sell only to allowing buys would be significant. The addition of expected reverse merger news will be the icing on the cake and from current price points the cumulative follow through should be massive.
I also trade BLLB on TD Ameritrade. Schwab has not issued any recent statement announcing changes to trading Caveat Emptor stocks. On December 18th 2020, TD Ameritrade issued notice that they would cease access to trading Caveat Emptor Stocks as of the end of the day on January 31st 2021 and would set them only to sell or hold. It has not yet gone into effect, I would think likely because enacting that policy within the same week of Robinhood and others getting hit with terrible press for doing the same to various individual stocks just didn't seem like the best move from a PR perspective.
TD's announcement on that can be found in PDF format here, with the initially planned date of execution in the first sentence: https://www.tdameritrade.com/retail-en_us/resources/pdf/cesecuritylist.pdf
There's no reason to mention that fact that certain brokers reflect BLLB as "Pink Sheets Current" as you mentioned because we know that it isn't yet. You can run a quick CTRL + F search on the above link for "BLLB" and see that BLLB would be among those affected specifically because it is not Pink Sheets Current but ideally it will be very soon.
Being that the industry is looking to slowly cease trading on all Caveat Emptor stocks, there are indeed hurdles to trading them and an uplist would certainly be a significant boost to BLLB trading.
The active quotes on BLLB with the OTC were made possible through an interim application approval from OTC Markets after the company requested OTCIQ access in October 2020. I say interim because even prior to potential current listing this allowed them to upload filings in effort to get current. Prior to that approval the OTC Markets would not even show the price of BLLB.
You must have missed some pretty significant news regarding Caveat Emptor stocks lately, with regard to, "Its not stopping anyone from trading."
About 7 weeks ago Etrade announced a complete ban on trading Caveat Emptor stocks and followed through making them sell or hold only. TD announced the same beginning this year and could be enacted literally any day now, as many other platforms already have such bans. Switching from CE to current would mean that multiple brokers would go from only allowing sells to allowing buys. It shouldn't be particularly difficult to imagine the effect that would have as a standalone situation, let alone if combined with mergers, acquisitions, or other significant corporate actions.
Also with respect to "RMs happen all the time regardless of OTC status." Cool but BLLB does not trade on the OTC, so that is another miss. As a Caveat Emptor stock it is on the grey market literally in the midst of an application process in the hopes of becoming classified as an OTC Market stock. The OTC Market is the lowest market and BLLB is not there yet, so suggesting that a company would willingly choose to merge into a grey market stock is a bit silly. Can you provide some examples of private companies that chose to reverse merge into a publicly traded company that was not even on the OTC Market or higher? It would be a horrible idea to do so and that's why they would generally not occur.
That would require putting up money to merge into a ticker that is at high risk of being entirely de-listed from the stock market, whilst choosing not to merge into options that come without that risk. It would make little sense to do that while there are many other options that are in full compliance and therefore, lower risk of revocation. Reverse merging into a Caveat Emptor stock would be like playing Russian roulette, for literally no reason other than wishing to put your own funds at risk, so no part of your statement is sensible.
I literally heard the song "Under Pressure" in my mind after reading this and you couldn't be more right!
BLLB now at .009 with very little on the ask. It's looking more and more like it could be .01 or better prior to a Pink Sheet Current listing. If so, the up-list, if combined with merger news, could see a push above $.10 in the near term.
The total run there since October 21st 2020, as of today's high, has been 1,689,900%. No, that was not a typo.
It really goes to show the sudden value that reverse mergers can bring to a former shell. From $.0001 to $1.69 today, in just over 3 months.
I have literally never seen a larger penny stock run in my entire life. Imagine a reverse merger like that into BLLB. I would probably retire. Lmao
I was thinking the same thing. There really was a mass exodus from Robinhood over the weekend. Another smaller trading app that I follow released a statement stating that their user based increased more than 100 times over, just this past weekend because of it.
One of the biggest issues with Robinhood wasn't just that people couldn't buy but that they could only sell, so this would literally be the worst week for any platform to set an entire category of stocks to only sell. I bet that plan is at minimum postponed, so hopefully BLLB will have regular trading through the up-list time.
Reddit's Wallstreetbets group actually ran Gamestop for weeks at the least, so I suspect the same is coming for AMC. I only know that because a friend of mine told me he was "buying Gamestop because it's the Reddit meme stock" at least 2 weeks ago. There's literally over 3.8 million people in that group now, over 1 million of whom just joined today, so there could potentially be a continued super wave for AMC for days to weeks. lol
Oh snap, great catch! It was still there when I was looking yesterday, so this is definitely on the verge of moving to Pink Sheets Current. Could even happen today or tomorrow.
There are companies trading on the OTCQB level, that are currently less in compliance with filings than BLLB is right now in its bid just for Pink Current.
Robinhood does not cover OTC penny stocks. Only those on Nasdaq and the NYSE.
Protip: The current CEO is an executive for a company that specializes in filings to get companies current, and also specializes in mergers and acquisitions. She has a history of temporarily becoming the CEO of shells, followed by companies reverse merging into them. So yes, I definitely agree with you! haha
Lol, no. Fill in the * with a P for the last letter. Posting full tickers of other companies on an unrelated board, is not allowed.
There's literally no way to know until you know what the new company is.
Recently within the past few months TSN* had a reverse merger that saw it gain 324,900% within 6 weeks.
I'm not necessarily saying that is what will happen here but just that there is no way to ballpark on the future value of a company before you know what the company is, what it does, or even what industry it will be a part of.
Successful reverse mergers though, have typically been some of the largest runners in the history of penny stocks. A lot of them have seen absolutely ridiculous moves within relatively short spans of time.
The particularly good thing here, is that BLLB is moving toward an up-list to the Pink Sheets Current tier at an incredible time. Due to covid keeping so many people indoors there has been more money flowing into penny stocks than there has been in over a decade, due to a 95% uptick in screen use time (phones & computers), and little other ways to spend money than to invest it over the internet. This is part of why there has been such outsized growth in penny stocks over the past year.
With trading platforms stepping up to ban trading on skull and cross bones/gray market stocks, we are likely seeing longer wait times on uplists due to higher scrutiny, hence the long wait even though BLLB is currently as compliant as an OTCQB listed stock. The significant filing work they have put together suggests that BLLB will be uplisted very soon, as they have already weathered this new heightened scrutiny phase.
BLLB will likely be one of the earliest companies to pull such an uplist before the hammer comes down and the fact that it is happening amid the largest influx of money to pour into the OTC Market in over a decade, causing much larger runs than the expected norm, is particularly bullish looking forward.
Dude, this was 13 and a half years ago, haha. I was still in High School at the time. I remember my dad driving me to pick up the pass to the show from that guy and he was shocked because he expected an adult, lol :-P
He is correct in that you can legally ask for any information. It doesn't become a securities violation until the undisclosed information is provided in answer to the question, if you then trade on that privately disclosed information.
I.e. it's in your best interest and theirs, that they do not answer your questions in detail.
I'll be honest, if OTC Markets Group, or the company were to answer your question in specific detail, prior to a publicly available statement, that would be a securities violation jeopardizing both yourself and your investment.
I know you like to be proactive and call around but you should definitely take into mind the legal liabilities involved in fishing around for information that has not yet been publicly disclosed, and then announcing that you have been fishing for this inside information on a publicly accessible forum.
This is why the person at OTC Markets pointed you toward the company instead of risking legal liability by answering you in detail himself.
You're slightly off on your assessment of when they began covering GMGI. You appear to be concerned because you believe it started one week ago on August 4th 2020 but it has been ongoing for nearly a year and a half, lol. It began in March of 2019. Definitely the hard opposite of some quick pump and dump or something.
They have a write-up explaining it, if you do a CTRL + F search for GMGI on their past picks page: http://www.pennystockdream.com/picks
This is normal for reverse splits. It generally can take up to a week and sometimes slightly longer for all of the different brokerages to get their things in order. This is completed at different times depending on how the brokerage completes the job. Some will see it happen in as little as one day and others could take a bit over a week but the majority should be good to go within a few business days of the start of the reverse split.
No problem at all. We're all in this together
And GMGI is looking good, already at $3.30 for the day. There will continue to be trading hick-ups as the different brokerages (E-trade, TD Ameritrade, Schwab, etc) get the share issuances locked down properly but within a couple of days it should be smooth sailing, with it trading normally again at the higher price.
They're not actually gone. It's just part of the process of the exchanges adjusting to the reverse split. Everyone will end up with the same dollar amount value of shares that they had to begin with, just everyone's shares will be divided by 150 and the price will be 150 times higher.
Some people as a result will initially see their shares "vanished" as you stated, others may see #'s, or symbols in their place, etc. It's just common practice as the split is being enacted but you have not currently lost anything as long as the company is still trading that is.
I started when I was 10 (using an account in my parents name), so you really never know
IGEN is looking like it could have some solid action upcoming. Not a surprise to see yesterday's dip after such a huge move up.
Haha, a friend of mine that makes more money annually than the entire current market cap value of ACGX, messaged me today, to say that he applied for a Studio apartment in Manhattan and was denied access because his salary was too low. So yeah, ACGX is looking rough. lol
With the actions of management here, that sounds far over value to me. Barring any planned pumps, this does not at all seem like a real company. Management assured investors that audited financials were coming almost two years ago.
October 2018:
$ACGX Audit update - The Audit team will be in Chicago this week and next for field audit & warehouse tests. The Company is making progress with this process and will inform the public in more detail as we have more information available. #ACGX #AUDIT
— Alliance Creative (@ACGsocial) October 2, 2018
Ooh, will do, thanks for the link! I definitely had not checked this out yet.
Awesome, thanks for this! I hadn't seen that. Makes this even more exciting
What is the lottery company acquisition that you mentioned? I've followed GMGI for so long and must have completely missed that :0
ACGX has reported over $113 MILLION revenue since 2010 and last reported only having $87,188 in the bank. This has been a dumpster fire for investors.
It's been a while since I have checked in here but I see it's just been more of the same. In the last PR on the Q3 report the company touts over $80 million in sales revenue over the past 8 years and also has just $129,759 in the bank to show for it.
$2,776,082 for Q3 2019 with only $5,251 Net Revenue. The numbers are steadily so bad it's impressive. They could probably just start up a simple blog talking about their industry instead of actually working within it and see higher net income due to less overhead costs.
This also aged very well. This guy spot on pinpointed what would happen here, four years in advance: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=115540721
Yeah, I mentioned way back when they said no reverse split at this time, that it would eventually come.
Wow, I hadn't even thought about that aspect. I always imagined that the dilution to pay of noteholders could be staged accomplices but it's crazy that it was literally his mom and dad.
He sold against his shareholders to line his own family's pockets prior to splitting.
Damn, this didn't age well at all...
Well this aged well! Smh, what a scam this turned out to be.
Thanks Staley! I can see why the wild ride has kicked back into gear all over again
What is the new planned date for the completion of the merger/buyout?