is...retired
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First, a lender must be found so that JPE can buy the sugar. There may be taxes and other expenses involved. The goods are moved onto one or more ships and shipped to the buying company. At that point, the buyer pays the agreed upon amount. Then JPE pays back the lender plus interest, subtracts all the expenses involved, and what is left is profit.
A public company can't just start selling shares without public notice. Period. It can convert notes to new shares, if they are delinquent, and we are notified in the filings when that happens. We already know about the existing notes and when they mature.
To sell shares on the open market would take a 'placement', an SEC activity that puts a given number of shares into the OS at some given price point.
To see various ways to prepare chicken paws, google chicken paws recipe. That gets almost 6M hits...
It was in today's 8k, which is where everyone should look for official information.
Furthermore, we were informed that this assignment involved a newly executed agreement for Grade A frozen chicken paws in addition to the previous sugar contract. The new agreement encompasses the procurement of approximately 97,000 metric tons of chicken paws, with a total contract value of around $300 million, inclusive of all associated fees, discounts, and bonuses. The agreement also incorporates an initial trial shipment of approximately 135 metric tons. Following the successful completion of this trial shipment, the agreement outlines a schedule for the remaining 97,000 metric tons to be delivered in 12 monthly shipments.
You are jumping the gun. It is still Nates and will be until the merger closes, at earliest, 2 more weeks out.
There won't be an energy division in Nates. It isn't part of the merger.
Keep reading. The jpenergy group was STARTED last month JUST for this merger. That is WRITTEN into their reports.
Guess you don't know what a spinoff is.
Some people have trouble with reading comprehension.
It clearly states, multiple times that jpenergy partners is transferring food contracts to jpenergy group. That is TWO different companies. One involved with food, the other involved with energy.
Who is jpenergy?
They are officially jp energy partners. They were public a few years ago, but got delisted. So, they are a private company. They use jp energy group interchangeably, but according to the merger details, jp energy group is reverse merging into Nates:
Nate's Food Co. (OTC: NHMD) is excited to announce the successful execution of an agreement to acquire JP Energy Group, a Food Jobber Company."
But that company apparently is brand new - JP Energy Group, established in September 2023 with the purpose of fulling and executing on the contract executed by JP Energy Partners as disclosed in our 8-K filed September 21, 2023.
Now the chicken paws contract uses the same wording - jp energy partners is transferring the contract to jp energy group.
This all leads me to believe that jp energy partners is spinning off the food business which will be handled by jpenergy group. Nate, by the way, is the only officer left and he will be gone after the merger completes.
So, for those whose eyes are on the other businesses of Jpenergy partners, that is not part of the deal. It is food only.
Dilution happens when the OS grows. You can't possibly know if that is happening. The likelihood is that it is not happening. If you read the fins, you can find out when notes come due. That's when new shares go into the market.
I doubt that the new company will be selling pancake batter or mining bitcoins. It is a NEW COMPANY, not the old Nates.
Not the first reverse merger:
A look at the last quarterly shows the history of Nates. To that, now add the ongoing reverse merger. Pay particular attention to the 'surviving entity' bit...which will happen again when this merger is closed.
"General Overview
We were incorporated in the state of Colorado on January 12, 2000. Nate’s Food Co. is domiciled in the state of Colorado, and its corporate headquarters are located in Huntington Beach, California. On May 12, 2014, Nate’s Pancakes Inc. was incorporated in the state of Indiana. On May 19, 2014, the Company completed a reverse merger between Nate’s Pancakes, Inc and Capital Resource Alliance. Nate’s Pancakes was the surviving company. In May 2014, the Company changed its name from Capital Resource Alliance to Nate’s Food Co.
In connection with the reverse merger, we became a food manufacturing and product company, and in May 2014, we executed a licensing agreement with Nate’s Pancakes to market and sell “Nate’s Homemade”, exclusively throughout the world.
Since 2021, the Company has been engaged in “Bitcoin Mining” – i.e., the process by which Bitcoins are created resulting in new blocks being added to the blockchain and new Bitcoins being issued to the miners. The Company has purchased ASIC (application-specific integrated circuit) computers - computers specifically designed for cryptocurrency mining - that is being used for Bitcoin Mining. We have placed this Bitcoin Mining equipment with 3rd party datacenters or farms (often referred as a “Co-Location”) that power and operate our Bitcoin Mining equipment for a fee. We are currently generating revenues through receiving Bitcoin from our Bitcoin Mining equipment.
Our Current Business
In General. Historically, our food development division has licensed, developed and manufactured food products. Our Board of Directors determined that we cease product manufacturing and development of new products for our food development division. We are, however, continually exploring options to license our developed products, a ready-to-use, pre-mixed pancake and waffle batter delivered in a pressurized can. We are also exploring options on monetizing our proprietary blend of pancake and waffle dry mix. Our current product line consists of the original flavor of pancake and waffle mix and three additional flavors, Banana, Blueberry and Strawberry. The flavors can be found at www.natesfoodco.com/brands, however, are not currently for sale."
It sounds to me like they were already in the process of closing down the food development department. This may have been the early indicator of the upcoming RM.
I suspect that the new name, after the merger, will be 'jpenergy' 'something'. I doubt if pancake batter will be in the mix...😏
A note to the bashers and other doubters...
None of the filing history over the last several years means anything except those that refer to jpenergy and the OS reduction. There is a reverse merger in process. That means a non-public company is 'going public' by merging into public company (Nates). Usually, the 'old' company ceases to exist, but not always.
Perhaps none of the historical Nates business will continue to exist after the merger closes. Nates will have new management with a new direction. Read the jpenergy website to see what the new business will be.
What the stock does is anyone's guess, but John Park (the jp in jpenergy) is the new CEO and has a track record of running successful companies, and there is no reason to think this one won't be successful as well. I frankly would be surprised if the new company does not uplist in the relatively near future.
There are no shorts. Ask your brokerage.
That would be a fidelity rule. Each broker has its own rules. TDA has some wonky rules too.
There isn't just one spread. Each MM has its own spread. What you see at your brokerage is what that brokerage advertises - typically the MM that the brokerage hands off to. Here's what etrade has for now:
NHMD
NATE S FOODS CO COM
$0.0015+0.0001 (+7.14%)
Bid x Size
$0.0013 x 32,626,077
Ask x Size
$0.0015 x 19,214,547
That means they will BUY up to 32,626,077 at $0.0013
That means they will SELL up to 19,214,547 at $0.0015
That is not the only spread, it is the only one that Etrade shows.
If any trader makes a trade that falls within that window, the MM must execute the trade. And, because they are willing to buy more than they are willing to sell, they need more shares, because they anticipate higher demand and a rising price.
Those trades by those quantities are called tranches. MMs can and do change their spreads between tranches.
The OTC market is fully automatic. There are no 'rogue' MM's, because there are no people looking at the trades. It is fastest computer makes the most money. There are over 10K OTC companies, and each company has trades every day. Billions of shares are traded every day. EVERY SINGLE TRADE is recorded for all time. In order for any MM to buy any shares, there has to be a seller within the spread. By LAW, they HAVE to buy those shares. Likewise, they can't sell any shares unless there is a buyer within their spread. Then, BY LAW they HAVE to sell them. Every trade is timestamped, the number of shares trades, the seller and the buyer. MM's ARE buyers and sellers, and they are the ONLY ONES that can buy or sell your shares.
Employees of Mm's that would 'cheat' their employer would not last long, as the fines are FAR higher than what could be made cheating sub penny stocks.
So, all, GET OVER IT. The MM's are no trying to cheat you. It is buyers and sellers that change the share price, especially those that buy/sell at market. If I want to sell 10M share, it will be at a limit. MM's will take forever to fill the order because they can only buy when the selling price is within their spread. Then they HAVE to do the trade FOR THE AMOUNT STATED IN THE SPREAD. Then, they can change their spread if they want to.
Hedging my bets...
Although I still own over 100M shares of NSAV, I have just picked up 20M of NHMD. The portfolio has already increased by $6K. I wouldn't normally mention another stock, but I know a lot of folks are upside down with NSAV and I wanted to share what appears to be a gem. Read their filings, message board and see if it is for you too. Quick note - it is going through a reverse merger, the new one taking control. The new CEO is a really big deal.
While what you say may be true, you can't see any of that action. L2 only shows tranches, not whole orders.
And since every transaction is handled by MM's, your sell is an MMs buy, REGARDLESS of whether there is another buyer for it. And, MM's break up their buys and sells based on the quantity that the spread is good for. So, while you are selling an order of X amount, that may result in multiple tranches by MM's, and possibly more than one MM is involved in handling your order. It is the fastest computers that make the most money for MM's.
So counting individual buys and sells (tranches) tells you exactly nothing.
I don't know of any place to see full order processing.
If you click on 'Transactions' at your brokerage to see your order processing, it should list the buys/sells against a given order.
A recent sell I did has numerous transaction sell entries for my order , but it is all from the same order number. It took several days to complete.
Actually, even that is not true. We have no way to see what is for sale, or what is wanted to be purchased. MM's see that. We don't. What you see is partial buys/sales only. they are called tranches, and it means how much an MM will buy or sell at a time. Once that tranche is complete, they can change their spread and continue on.
If I sell 1M shares, you might see 50 sells. That is the tranches used to complete the order. You don't know that I had an order to sell 1M shares, you only know how many tranches it took to complete the order.
You can't tell what is happening by the trades you see. You don't see full trades, you see only tranches, which is the amount an MM will buy or sell at one time.
I've had traches of only 1 share at times, when buying or selling 1M shares. There might be 50 tranches to complete a single buy or sell. Look at any MM's spread...there is what they will pay for shares, what they will sell for and HOW MANY they will trade at those prices. Those are tranches, and looking at them tells you exactly nothing.
Here is the spread on Ford:
Bid: $12.02 x 12575 Ask: $12.03 x 12490
That means they will buy 12575 at 12.02 and will sell 12490 at 12.03.
By law, if an order comes in that meets their spread they HAVE to make the trade, but only for the quantity stated. Then, they can change their spread (and usually do) to make it more profitable for them.
It does not say it is a reduction in OS. Go back and read it a few times. IT DOES NOT SAY WHERE THE SHARES COME FROM.
You are apparently the clueless one. I said they could take shares from the AS but not from the OS. The other poster said someone was 'giving back' a billion shares from the OS. I said the fins didn't show anyone with a billion shares. Maybe a little reading remediation would help...
In any case, the new management has not said WHERE the shares would come from, so none of us has a clue until they DO tell us.
How can you possibly say such a thing?
If anyone owned that many shares it would have to be in the fins. It is not. Look it up - no one has a billion shares.
If you don't know how the system works, you shouldn't make statements as fact.
Besides, they have not said where those shares would come from, so speculating on it is useless. Stating guesses as fact is also useless.
No, you can't change the OS. That is the shares that are sold, and in people's hands. The change you will see is the AS, which are the shares that have not yet been sold. The company has complete control over the AS, all it takes is management to change their articles of incorporation, which we will soon see.
The SOS is the keeper of the articles of incorporation. The AS must be changed there. You'll know its done when you see it at OTC Markets. Still at 6.5B right now.
What is a reverse merger?
A reverse merger is when a private company merges into a public company and takes command of the public company.
The public company name sticks around but may be changed in the future. The private company no longer exists - it IS the public company.
The old management of the public company is gone. The management of the previously private company now controls the public company.
So, the old NHMD management is GONE. The new NHMD management now controls NHMD. There is no Nate any more.
Reverse mergers are performed when a private company does not want to go the route of an IPO, which is both expensive and takes a LOT of time.
A standard merger is when two companies merge and keep both companies runnng.
So, forget anything you ever knew about NHMD. That company is GONE. What we are now looking for is the new NHMD to make good on its plans. Reducing the AS is a good start.
No, the company is not selling. There is a method to take shares from the AS and put them in the OS and it's not by 'selling' on the open market. LMAO!
Right...people in stinky pinkies have stop losses! LMAO!
So, the OTC is automated. That means there are no MM's looking at trades at all.
It also means that, in order to short a stock, you have to use a broker that is willing to do it.
And if you find a broker, you will have to put up a margin to cover the loss if it goes up instead of down.
The margin is in the order of dollars, even if the stock is only valued at .001.
So, 10000 shares of stock would cost you about $25000 dollars in margin JUST to place the trade. And, if it goes down to .0009, (10%), you could make 10000 X .0001 or 1 dollar. but if it goes up, you would be paying with your margin. I know math isn't everyone's strong suit, but even an idiot should be able to see that shorting penny stocks makes no sense, let alone that brokers won't even do it, because it would be a waste of THEIR TIME to do something that could not possibly make sense, or make money for them.
Another one to put on my ignore list.
There are no shorts in penny stocks. Any OTC trader should know that. Don't believe it? Talk to your broker about it. Not allowed.
My stupidity? YOU CAN'T SHORT PENNY STOCKS, PERIOD, IDIOT! Try it. Talk about stupid.
I dare you to short even 100 shares of NSAV and prove that you did it. You can't. No brokerage permits shorting penny stocks, and it would be a foolish person, indeed, that thought that shorting a volatile subpenny stock would be worth the upfront cost to do so, IF it was possible, which it is not.
To short a stock, of any kind, you have to front the money, about $2.50 per share to do so. That's so the brokerage doesn't take the hit if it goes upside down. Of course, you don't know that, because you are too stupid to even understand the concept.
But do go on with your stupid comments, you are now officially ignored, as I do with everyone that proves they don't know what they are talking about. Why would I want to read trash from someone that doesn't even understand what they are talking about?
Don't know what you are insinuating, but mergers are common and there is a process for doing it. Of course, anyone that has been around the OTC for any length of time would know that.
The SEC rules state that insiders can only trade within the 'trading window', which is within 30 days of filing financial statements. Obviously, if it were any other way, insiders could take HUGE advantage of upcoming events, good or bad. They can't. It is illegal.
Having gone through multiple mergers in the past, there is almost always a 3rd company formed, which eventually combines the assets including stock into a single company, then that 'temporary' company is disbanded. It is a company with no assets, and no shares, but is there as a holding vessel for the merger.
They are not 'basically' the same company, because one is temporary and the other will disappear.
And a little careful reading of the 8K would explain that the company is a newly created company, just in September, and just for the purpose of managing the merger.
"JP Energy Group, established in September 2023 with the purpose of fulling and executing on the contract executed by JP Energy Partners as disclosed in our 8-K filed September 21, 2023."
You do understand that insiders can't buy/sell during the quiet period, right? They may buy and sell only withing the 30 days AFTER posting the quarterly reports. Been there, done that.
Oooohhhh somebody learned a new word and wants to show how smart they are by using it.
Fact is, penny stocks can't be shorted, naked or otherwise. And anyone that thinks otherwise is welcome to ask their broker to short even 10 shares of worthless shares. There is FAR more to lose than there is to make in such a transaction, even if it was allowed.
To show how stupid that idea is, consider that for one to short NSAV, they would have to pony up $2.50 per shorted share to start with on a stock sitting at $0.001. And for what? To make .0001 cents per share, and lose the $2.50 per share if it goes up instead of down...SMH.
No, it is not. Gibberish!
You haven't the slightest clue. NSAV can't short shares. Neither can you short penny stocks. Your broker won't let you. So, just another BS post from someone that has no clue. At least I know to Ignore any further posts. I ignore anyone that has no idea how the system works, because they only bluster stuff that is wrong. I don't need to even read them.