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Execution date isn't part of the vote.
Should OS be less than 200M tomorrow?
Interestingly enough, still showing as a shell risk. Plus, website no longer working.
I wonder how much lower we go today! Same trend every morning.
...and here endeth the lesson about not buying premarket! Hopefully we see a recovery to premarket gains.
Supplemental Information Disclosure
to Report Change in Shell Status
Skywealth Group Inc
A Florida Corporation
2/F Connaught Harbourfront House
No. 35-36 Connaught Road West
Hong Kong
________________________________
+85293088120
timothylam@outlook.com
Skywealth Group, Inc. (the “Company”), a Florida corporation, is a publicly quoted issuer on
the OTC Markets Group, Inc. (the “OTC Markets”) trading platform and is classified as a Pink Sheets Alternative Reporting Company under the ticker symbol “SKWG.” The Company has previously been classified as a shell company.
As previously disclosed on the December 16 2022 Company press release, the Company was in the process of acquiring the BVI company Charming Limited which it then completed on 20 December 2022 (the “Acquisition”). The Company is now the sole owner of all of Charming Limited’s outstanding shares, making Charming Limited the Company’s wholly-owned subsidiary.
As of December 20, 2023, upon the completion of the Acquisition, the Company believes that it has ceased to be a shell company.
The designation of “shell company,” as defined in Rule 405 under the Securities Act of 1933
(see also SEC Release 33-8587), is determined by whether the entity has no or nominal
operations and no or nominal assets. More specifically, Rule 12b-2 of the Securities Exchange Act of 1934 defines a shell company as a company that has: 1. No or nominal operations; and 2. Either: i. No or nominal assets; ii. Assets consisting solely of cash and cash equivalents; or iii. Assets consisting of any amount of cash and cash equivalents and nominal other assets.
Thus, in order to be considered a shell, a company must have “no or nominal operations” and one of the other qualifications listed in part 2, such as “no or nominal assets.”
With the Acquisition, the Company is now operating an established management consultancy business with significant agreements in place. This business generates revenues from annual contracts with private companies providing management services.
We expect to continue generating revenues this year and to be profitable and cash flow positive. Accordingly, the Company hereby declares that it has ceased to be a Shell Company under Rule 12b-2.
CERTIFICATION:
I, Terence Chun Lung Ho, certify that:
1. I have reviewed this Supplemental Information Disclosure for Skywealth Group,
Inc.; and
2. Based on my knowledge, this disclosure statement does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made,
not misleading with respect to the information covered by this disclosure statement.
March 21, 2023
/s/ Terence Chun Lung Ho
Terence Chun Lung Ho, Acting CEO`
https://www.otcmarkets.com/otcapi/company/financial-report/361990/content
$muln $tsla @Mullen_USA @bollingermotors @tesla @elonmusk @DavidMichery Tesla is ready for vans! This looks close to Mullens. Maybe it's happening. pic.twitter.com/YuEOeF2N7K
— MAGA STRONG (@josh_boldt) March 30, 2023
$FOMC Tricky-Vic at it again. All of this sounds so familiar, with all the buzz-words and punch lines. Sounds exactly like when we xsitioned from ev to clean air, when he brought in IAQ Technologies, Energy Intelligence Center, Independence LED Lighting, SmartGuard-Solutions, SmartGuard Energy LLC, and then SST starting back in 2020. Everybody got excited and then, poof like a fart int he wind. This shister can't be trusted!!!
Where is this company going to get funding from to expand any operations? Barely any revenue coming in! Not taking on equity or debt funding past what's needed to pay salaries and to keep the lights on (SS hasn't changed in forever).
There's nothing to see here!!! Hang it up Imott with your daily ramblings. People already put you on ignore because there is absolutely nothing of substance to see here. That last tweet about "great news" coming was nonsense and bait!
OTTV'ers, are we still waiting for the "great news" to hit?
Agree wholeheartedly brother! The TESLA thing is a ridiculous pump/dream! Musk bought a company for $44B and its most recent valuation was ~$20B. That man isn't thinking about anything but stopping the bleeding. Besides, Michery has a cash cow here; why woul he give up getting the freee milk. I'm not going to jump off my roof until I see an RS announcement. Very risky indeed, but I'm holding on until some of this massive uncertainty subsides and we see clearly which direction we're goin (crash or fly).
Why do people keep mentioning TSLA? They're trying to corner EVERY market, so $MULN better get moving!
$muln $tsla @Mullen_USA @bollingermotors @tesla @elonmusk @DavidMichery Tesla is ready for vans! This looks close to Mullens. Maybe it's happening. pic.twitter.com/YuEOeF2N7K
— MAGA STRONG (@josh_boldt) March 30, 2023
Massive selling too. Profit takers raiding the coffers. This is good news, but not the news, IMO, we were waiting for.
How's this for some BS!!!
231,595,420 (65.5%) dark volume
Well this doesn't help.... Imagine what the gains should've been if this market wasn't so corrupt!!#MULN $MULN @GaryGensler pic.twitter.com/TUJ3WYnKco
— David Zilkie (@DZilkie) March 30, 2023
Thought dillusion was pretty much done and this thing was going to hold 12s. SMH!
You come on here trying to make an argument with pictures from March thru August 2022, before Mullen even purchased ELMS. Seriously?! The photos are date stamped.
Vultures are always circling above!!!
Looks like it was the latter. At least I got to sell off some of these bags!!!
I am very curious as to what this "good news coming" is. I hope they weren't referring to filing the 10Q or just tweeting that to sell shares.
In January 2023, the Company issued a convertible note in the amount of $60,000 to Platinum Equity Group.
Really like Bollinger and their transparency. Beautiful looking work trucks with them going above and beyond to make sure everything is finetuned. Too bad they won't be in production phase until EOQ1-24 or beginning of Qtr 2-24.
Welcome back Bounce. Hopefully you got some at these levels.
Actually, he just sells warrants to the vampires and they rape us. CEOs typically tailor their business practices more to institutional investors than to us retail, but his obvious DGAF style explains why the vampires prefer buying warrants from him. As long as there is AS cap space he can't tell them 'no' when they're ready to sell.
Understand that the stock price being raped doesn't effect what's going on behind the curtains at Mullen as long as they get their operating cash.
Mullen has one and only one choice right now with all the crap surrounding this company (thanks to Michely's terrible business practices). Pump out Mullen 1s!!! Forget the Mullen 5! We can't afford to dedicate any resources to that project right now. Dedicate every waking minute to producing vans and hopefully something good comes of this mess by EOFY.
Why don't you guys stick to $CLNV and go sword fight somewhere else!!! Christ!
$OTTV great news coming everyone. Have a great day.
— Vivalive TV Official (@vivaentgroup) March 13, 2023
Don't do it brother!!! If you can, wait until the end of the month. The institutional investors that are diluting will let it breathe next week, so it will go back up to $.20 - $.22. No idea how much of the ~400M shares have already been dumped, but can't be too much longer. Just a little more patience. Don't let the sentiment on Twitter and this board get to you.
"READY FOR CUSTOMER DELIVERY"
First of its kind in the U.S. market, the #MullenONE commercial electric cargo vans are ready to roll! ⚡$MULN #MullenAutomotive #MullenUSA #MullenCommercial #GreenFleet #EVFleet #EV #EVCargoVan #CommercialEV #ElectricVehicles #GreenTechnology #Sustainability pic.twitter.com/XSiCRYbE3o
— Mullen Automotive (@Mullen_USA) March 9, 2023
This guy is SOOOO hilarious!!!
https://twitter.com/vikpgrover/status/1633630701693067264
No choice at this point but to move ahead with the RS. This POS is at a standstill and he's getting ready to sell more shares.
Getting desperate for funding!!! Started pumping this badboy to get some new blood flowing in.
? Modular Building Provide – S Florida, 100% govt. in schools, municipalities, police, fire; can 2x revenues moving into N Florida, then go into leasing ($10MM revenues / $1MM EBITDA); husband and wife owners, want to grow business, take some off the table/; **IN DISCUSSIONS**
[b]Growth Capital Plans
? Reverse split (1-500 approved),
? Up list to OTC QB, will attract small institutional investors
? Equity raise $5-10MM, possible selling shareholders if oversubscribed,
? Consolidate high interest financing with bank line or term loans or unitranche funding.
We've averaged a loss of $0.0147 p/day since the 10Q and offering dropped on the 14th. At this rate we'll be around $.15 (or at least be testing that 5 yr low of $.18) by next Friday if we maintain the status quo of radio silence and daily price action.
No, not shorts. That's how institutions make money financing companies like Mullen.
Doesn't get any more plain than that. What we are suffering now is a necessary evil in this game...even getting beat down by the shorts.
Yeah, as of right now the PPS is $.24. But, they have a whole lot more shares to sell than they bought once they convert.
The way conversion works is:
The price is set when they file the offering. It's listed in there at $.303. While it's important to know what it is, it actually only serves to help calculate the conversion ratio.
Good on you Twister!
I don't think BlackRock cares that much about Mullen's day-to-day price change!!!
Mullen is BlackRock’s 3,528th largest position with a less than 0.01% portfolio allocation. In other words, MULN is a tiny bet that carries little-to-no risk for the firm.
Been over 2 years since the RS and we're still DIW! A capital investment company that has ZERO capital or isn't even licensed to lend money!!! Another reason I refuse to even touch OTC Pink Stocks over a year ago!
Management of the Company is making efforts to raise additional funding until a registration statement relating to an equity
funding facility is in effect.
Note 9 – Subsequent events
In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial
statements were available to be issued, February 13, 2023, and has determined that it does not have any material subsequent events to disclose
in these financial statements.