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$LFAP BREAKING DOWN THE 8K:
- $LFAP gets funding for $1.5m “Working Capital”
- 1,500,000 allocated “Series B Preferred Stock” at a $1.15 (so on conversion 1,725,000 - the “Conversion/Dividend Stated Value”).
- IF Maxim/LFAP choose to buy back Series B Preferred Stock, they can do do at $1.35 (the “Redemption Stated Value”)
- no stock can be converted for at least 180 days
- at 24 months the stock will automatically convert, either at (1) 0.10 if the share price is above 0.10 or (2) a 20% discount to the lowest volume weighted average price during the five (5) trading days immediately prior to the automatic conversion date.
- The Series B Convertible Preferred shall have no voting rights. So this is PURE FUNDING until converted.
Tell me where the bad news is...? Nothing but positive news here!
For full transparency:
- 1,725,000 would at 0.10 be converted to 17,250,000;
- at worst case 0.03 floor would be converted to 57,500,000 in to the OS
So upon conversion it would lead to 17,250,000 to 57,500,000.
But I do know that 14,950,000 (86.86%) at 0.1 is locked up by an Institutional Investor who will not toxically convert as they already have a large interest in the success of $LFAP (you can probably guess who) - so when looking at worst case, the amount of shares not locked up by the Institutional Investor are 2,300,000 to 7,666,667
BREAKING DOWN THE 8K:
- $LFAP gets funding for $1.5m “Working Capital”
- 1,500,000 allocated “Series B Preferred Stock” at a $1.15 (so on conversion 1,725,000 - the “Conversion/Dividend Stated Value”).
- IF Maxim/LFAP choose to buy back Series B Preferred Stock, they can do do at $1.35 (the “Redemption Stated Value”)
- no stock can be converted for at least 180 days
- at 24 months the stock will automatically convert, either at (1) 0.10 if the share price is above 0.10 or (2) a 20% discount to the lowest volume weighted average price during the five (5) trading days immediately prior to the automatic conversion date.
- The Series B Convertible Preferred shall have no voting rights. So this is PURE FUNDING until converted.
Tell me where the bad news is...? Nothing but positive news here!
For full transparency:
- 1,725,000 would at 0.10 be converted to 17,250,000;
- at worst case 0.03 floor would be converted to 57,500,000 in to the OS
So upon conversion it would lead to 17,250,000 to 57,500,000.
But I do know that 14,950,000 (86.86%) at 0.1 is locked up by an Institutional Investor who will not toxically convert as they already have a large interest in the success of $LFAP (you can probably guess who) - so when looking at worst case, the amount of shares not locked up by the Institutional Investor are 2,300,000 to 7,666,667
A one person dump and we move onward and upwards
For full transparency:
- 1,725,000 would at 0.10 be converted to 17,250,000;
- at worst case 0.03 floor would be converted to 57,500,000 in to the OS
So upon conversion it would lead to 17,250,000 to 57,500,000.
But I do know that 14,950,000 (86.86%) at 0.1 is locked up by an Institutional Investor who will not toxically convert as they already have a large interest in the success of $LFAP (you can probably guess who) - so when looking at worst case, the amount of shares not locked up by the Institutional Investor are 2,300,000 to 7,666,667
BREAKING DOWN THE 8K:
- $LFAP gets funding for $1.5m “Working Capital”
- 1,500,000 allocated “Series B Preferred Stock” at a $1.15 (so on conversion 1,725,000 - the “Conversion/Dividend Stated Value”).
- IF Maxim/LFAP choose to buy back Series B Preferred Stock, they can do do at $1.35 (the “Redemption Stated Value”)
- no stock can be converted for at least 180 days
- at 24 months the stock will automatically convert, either at (1) 0.10 if the share price is above 0.10 or (2) a 20% discount to the lowest volume weighted average price during the five (5) trading days immediately prior to the automatic conversion date.
- The Series B Convertible Preferred shall have no voting rights. So this is PURE FUNDING until converted.
Tell me where the bad news is...? Nothing but positive news here!
Absolutely no reason for this sell off today, the 8k, was for Working Capital in building out the Ancillary Businesses and the creation of the ETF:
- BOD’s are top brass;
- 1,500,000 Funding was backed majority by a larger Investment Firm to control toxic funding if third parties were allowed; it is likely that they will not convert their portion to take advantage of locking up the float to increase the price;
- Maxim own 46% of the OS
- Announcements to come on mutual funds they are working with to invest in the ETF
- Announcements to come on top 100 target companies
SO MUCH IN THE WORKS HERE.
HOLDING LONG AND STRONG
Please explain “Well now at least you know why the 10K was delayed.” Because I’m not exactly following you with respect to why the delay is a bad thing. This funding is necessary for the creation of the fund and is actually fantastic for an OTC funding which usually leads to dilution, this funding has provisions that limit the sale.
This will continue to rise, once they provide further details on the use of funds, who invested (You’ll love it when it’s disclosed)
Nothing has changed here apart from someone choosing to dump out their profits and try to tank the stock.
Yes, solid churning for 4 weeks at 0.13-0.19 really tells a story of a Pump & Dump... not much between the ears is there...
Look a Green Day!! Hahah
Jam- you're understand it all wrong, this isn't your typical OTC play. We have 46% ownership by a financial institution who are the same party that APPROACHED Bobby to create this ETF & Ancillary Companies....
What about the 50,000+ bought at 0.19 earlier in the day... C'mon dude know what you're talking about!
You're an idiot I watched it in to close, they chased it from 0.1775 to 0.18 to 0.183 - ask went to 0.185 then someone dropped to 0.182
Bid was actually 0.183 and ask was 0.185... love how you hide like herpes until you get excited...
Fantastic setup for the next rise, expecting churn and continuation tomorrow
That date is for UFO
More consolidation just pointing to a strong move north to come... There is more news on the horizon, looking forward of seeing what's install here as the ETF and Ancillary businesses all fall in to place...
Last year it was filed 04/20
No truer words said
Yeah similar to most ETF $LFAP become a Asset Manager
Scooping up all I can when powder is free here, there will be a turn around 1m+ is the starting point... looking forward to seeing what happens here in the next month
That’s Awesome! Real Advocates! News Catalysts coming, $LFAP is impressively strong and will be a winner for those who can stomach the wait...
Absolutely, fantastic end of day consolidation and over 500k traded 3-4pm...
Looks that way, news in the next week or two should send this...
Omg the world is burning down!!
It’s the who’s who of the LGBTQ scene
Stop Jamming your Cracker and get with it it, this isn't your typical OTC play
Someone put through 150k+ in to those earlier buys around 0.13..... they cleared out some weak hands and now we move... Technicals still strong here, playing out incredibly well....
- NO Dilution
- Strong Investor Group
- News coming...
Must hold? We are going to close 0.14+
Looks like that signals the next leg up, we just hit the 20 MA... Everytime this has happened in the past - look at the 3 month daily we've run... It's coming folks
"occasionally" on the hour
Again.....
I thought you said you weren't touching.....
Your post says "added at 0.14...."
Week to week....
Load Wall has been put up. Steal those shares
Yup I picked up a other 111k shares
They are just trying to accumulate more 3s
People under estimating the power of accumulation once announcement hit
Fearmongering over a couple % points... Anyone who thinks they're "trading" this, will be caught with their pants down soon...
Company still needs to announce more Board of Directors, Details of the ETF progress (ProcureAM Website for ETF Under Construction), Ancillary Business updates...
Don't get caught short
Could not agree more, April and May (the crunch time for ETF creation and ancillary business news) will be fun...
Accumulate and Hold
Check out my later post