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In the OTC it works like this. Lihn would take the operating entity Hi-alloy valve and merge it with a private company he controls for $1. then that would leave MVNT the public company a shell company with no operations. Mvnt shares would continue on as they are today just without an operating entity. Lihn would probably sell the shell to some other person who will reverse merge in anther operating entity or sell it to someone who would. This is the cycle of the OTC.
I was wondering when one of you would paint that up.
I hope the surprise isnt another empty financial report.
" We expect 2022 to be a pivotal year for shareholders!"
I guess they didnt specify the pivot would be upward.....
I want to make sure I haven't lost the thread here as I was away....We are now current and waiting on a shareholder update? Soon?
If he is doing his job he could get that answer from the otcmarkets directly.
Yes that is the same jack leal. The same jack leal that was producing our financial reports before he was announced as cfo. Also his linkedin shows he is active at a cpa firm at the same time as being cfo at petrochem. So that idea checks out.
I saw screen grab of the email shared with me last week.
Yea to be honest i dont know why wait. The financials they have been posting are at most a days work each. Why cut it so close to the deadline.
Not that I matter or provide absolute confirmation, but I have seen said email with Jack Leal. It was sent to his email address at his CPA firm contact information which you can find by going to MVNT latest financial report under the "Accountant or auditor" section.
When asked about getting current, and updating shareholders for Movement he responds with an answer of "The answer is yes - We are in the process of completing them within the next 45-60 days". Email as of Aug 18
would have liked a better response but that's MVNT for you....
Did you finally get someone to answer the phone or an email?
Is everyone having fun yet? 2022 Pivotal year for shareholders....
This isnt the first time they went silent for 6-7 months on filings.
PUBLISH DATE TITLE PERIOD END DATE STATUS
03/03/2022 Quarterly Report - Quarterly Report & Notes 12/31/2021 A
12/13/2021 Attorney Letter with Respect to Current Information A
11/15/2021 Quarterly Report - Quarterly Report & Notes 09/30/2021 A
10/01/2021 Supplemental Information - Changing of Shell Status 06/30/2021 A
08/20/2021 Annual Report - Annual Report 2021 06/30/2021 A
06/10/2021 Attorney Letter with Respect to Current Information A
06/10/2021 Quarterly Report - Quarterly Report & Notes 03/31/2021 A
06/10/2021 Quarterly Report - Quarterly Report & Notes 12/31/2020 A
06/10/2021 Quarterly Report - Quarterly Report & Notes 09/30/2020 A
05/18/2021 Notification of Late Filing - Notification of Late Filing 03/31/2021 A
12/08/2020 Annual Report - Annual Report 2020 06/30/2020 A
12/08/2020 Quarterly Report - Quarterly Report & Notes 03/31/2020 A
12/08/2020 Quarterly Report - Quarterly Report & Notes 12/31/2019 A
I doubt they would pass up the opportunity to pay back Friends and Family with public money first. That would have to involve at least 1 more pump.
The $350k wouldn’t be in inventory. It should be machine/equipment on the balance sheet. Inventory are things you plan on selling and machine/equipment are depreciable assets. But either way your point stands that it isn’t on the balance sheet and that is an issue.
Whats annoying is that we all have seem to lost complete touch with the company who refuses to answer. Before we could reach out to the receptionist or Sami. Now its just no communication besides some tweets with no follow through. I think that is what has a lot of long timers are getting fed up with.
Agreed...I wouldn't sell the pop to .03-.04 but for the karens of this board they should definitely sell at that level since they seem to be agonizing over their shares.
I'll wait for the update fins and forward looking statements to the pop back to the .08-.12 to slowly sell on the ask like las time.
Without news and assuming we are about to bounce chart curl up, I think the best you will get is around .03 -.035 in the short term. Otherwise sit back and wait a couple months for .05
They may not be building new capacity but they are running their current capacity at higher levels than we have since for the past 5 years. US refining capacity during covid dropped all the way down to 70% right now its hovering around 95%. This should provide a boost for COs like MVNT who provide "wear and tear" parts
yea i saw that....very suspicious... And then people here will say there are no MM games.
Good News... Website back up and working.
But nothing changed on it as far as i can tell.
https://mvmnt.in/
On a positive note, they did verify their profile on the otcmarkets website. Would have been nice to add Leal under company officers....
https://www.otcmarkets.com/stock/MVNT/overview
Love the new minimalist website:
https://mvmnt.in/
Ah ok thanks for the heads up. Really hope we dont get to the expert market or grey market.
Does anyone know what day MVNT will get move to stop sign and then what day they will be moved to the expert markets?
Oh man our lucky charm Showed up! Last time you were here and sold out we ran hard the next week. Your legendary around here for your “timing”
Are you getting any indication that this is going to happen? Only step forward I have seen is the hiring of a CFO but then they were late on financials so a bit of a wash for me.
Is there any indication that Velocity revenues will magically be included in the Qtr report that is due?
I would think they would announce the acquisition and then include the revenues in the next Qtr report.
Not being dismissive just making sure I didn't miss something.
I will find out if i can share the email as i wasnt the original sender of said email.
not sure what you are talking Jack Leal, CFO, replied to email confirming he has been hired by MVNT
Thanks this paragraph clears up a lot about your previous posts. Ignore.
Yup price could be good but most OTC traders with big money want to know if they are going to get stuck in a stock because of volume....
I think you have to take in the Amount of shares into that equation. If someone plopped 6 million shares on the bid it might cause price to appreciate thus they would never get filled and the chase would commence. But if the price was agreed at .011 thats a healthy discount from the .018 it was trading at that day.
Interesting idea. Ill have to go back and find the spread on where the bid was and where the block sold at. curious on how much of a discount the buyer got.
This is a bad take. You should do a little more research....
Clearly wasnt F&F as no more shares have converted and SS is updated daily.
I think it was Retail who had see enough of the late financials and delays with completing promised mergers.
The thing that baffles me is who purchased those shares. Who had a bid that large sitting just above .01? I doubt it was retail.
Was it a MM who was short that covered?
Was it a MM who now has a bunch of shares to ask stack the patch back above .03?
Well he did sign the latest financial reports for quarter end 12/31/21(as outside consultant at the time). So I think it’s a lot less up in the air than some on this board like to make it seem. It wouldn’t be much of a transition to go from outside consultant preparing company financials as of 3/3/22 to CFO 3/9/22 the date of the PR announcing him coming on board.
The good news is that they are worth far less if he wanted to actually sell(No volume). Skin in the game usually means high motivation to make progress on stated company goals. Progress brings volume and price appreciation.
I like this development.
Complaining is at an all time high and everyone is depressed...so I added some today.
Well MVNT was never involved with the russian pump business that sami was involved with. This could be good news, it could mean that Sami is now 100% focused on MVNT and delivering results.
Not to mention we all knew that implied to completion of the stated mergers and acquisitions at the time. Said M&A haven't happened yet? CFO now on board to execute?
This is about to spring into the .05s with ASCM taking on too many shares.