is...retired
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You need to catch up. Start reading filings after September 1, 2023. Nate and his company are going away. A new company is moving in. The 'NEW' company was created to facilitate the reverse merger. That almost always happens. The orders were obtained by JP Energy PARTNERS and are being ASSIGNED to the new company BY JP Energy PARTNERS.
Nates filings are audited. JPEG is supposed to be audited before the merger completes. It is written into the agreement. There doesn't need to be an opinion...there are facts to go by.
I think international brokers trade pre and post market hours. Interactive Brokers, for one.
Actually, MM's don't usually trade with each other either. They simply process sell and buy orders that are within their posted spread. The ONLY time they ever trade among themselves is when a stock goes illiquid - meaning it is not trading. That is why they are called Market Makers - they make a market where there isn't one. So many people have the wrong idea of what market makers actually do. The one thing they are NOT is traders. They are facilitators of OUR trading.
Yes, there is a premarket in OTC, but our brokers don't participate.
"Pre-Market Trades:
Investors may trade in the Pre-Market (4:00-9:30 a.m. ET) and the After Hours Market (4:00-8:00 p.m. ET). Participation from Market Makers and ECNs is strictly voluntary and as a result, these sessions may offer less liquidity and inferior prices."
I have been through reverse mergers before. Some are good, some are not. I expect this one to be good, because there are orders to process and profit to be made. If they fulfill the orders as expected, there should be follow-on orders.
The company name is likely to change. The shares may be untradeable for a few days. It all depends on how they do the merger.
Nates 'bought' all of JP Energy Group's shares with the preferred shares. Those preferred shares cannot be traded for a while, they are restricted and, if memory serves, not registered yet. I think JPEG's shareholders divide up the preferred shares in return for their stock. Nates OS should not change as a result of the merger. And it should not change at all until the company decides to either sell more shares (dilution) or buy shares back with some of that profit that is in the pipeline. In any case, neither of those will happen without an 8K filing. One exception would be if existing loans are converted. An 8K is not required for that, because the loans and terms are already public. On the other hand, the new company could pay off loans at face value plus interest to dispose of them. Again, we will have to wait and see.
There are a lot of gears in this endeavor, and we've only seen a few so far.
If you don't understand the difference between stinky pinkies and nasdaq, I feel sorry for you. You don't get to the big boards without having revenue.
If charts worked, we would all do it, and we would all be rich. You can't tell where a penny stock is going by looking at where it has been. SMH!!
Who charted the big drop last week? NO ONE!
Penny stocks move on pr's, filings and momo. Chart following on penny stocks is like playing systems in Las Vegas. They LOVE system players, because their system FORCES them to follow their system, and ignore what is actually happening. The house ALWAYS wins against system players. Uh, and chartists.
The JP energy group was formed in September for the purpose of the merger. JP Energy PARTNERS is the company from which the food contracts are coming, but JP Energy PARTNERS is not part of the merger. It is silly to say that the energy plays are a part of the merger, since ALL of the merger documents talk only about food.
JP Energy PARTNERS is SPINNING OFF the food business. Nates is the recipient of that business.
The merged company is a FOOD company. None of the rest of that energy stuff.
Read how they describe it:
"JP Energy Group’s mission is to become a global supplier of top-quality food products and commodities for its clients in the Pacific Rim. This strategic move underscores JP Energy Group's unwavering commitment to delivering excellence to international markets and solidifying its position in the global food distribution network."
Personally, when I first learned of this stock and the reverse merger, it was around $.001. I did my DD and decided to buy in, based on what appeared to be a good business plan. I understand that reverse mergers mean the old company disappears and the new one takes over. I am unswayed by anything said on the gossip boards.
I make my decisions based solely on what the company says publicly is going on. I've probably read the merger agreement 20 times. There are inconsistencies that are still present that I don't like. There is a difference between contracts, and agreements. All communications have, so far, been unclear. The last 8K refers to an agreement number that doesn't exist anywhere.
What all that means to me is that their communications are sloppy. They are not fact checking any of their communications before they file them. Different filings do not agree with each other. But I've been a director in a public company and understand the gyrations that go on with reporting.
I've chosen to take the risk present in the pinks and have now amassed 55M shares. The money came from profit on other tickers. I've been at this a long time...since 2008. I feel this one has legs. It will probably be my last big pink...if this gets anywhere near a penny, I'll have 55 M pennies. That is enough to quit, at my age...79...
I am still going on my own original DD. I understand that business goes by the speed of business, and that you can't do business by a calendar. Things always come up that need to be solved.
So here I sit, with my pile of shares, to see what happens. I hope for the best, but have no illusions in the pinkies. It will be interesting to see what actually happens.
I don't expect a share price large change until the contract(s) are affirmed, and processing. Anything else is momo.
In other words, when the new company is making money, the share price will reflect it.
The best thing the new company could do with its new income is to buy back shares. That is the one thing that would guarantee a share price increase, and a possible destination of the big boards.
Keep your posts about the company, not the posters, you asshole.
I grabbed another 10M trips...
try looking on otcmarkets, where it is delayed 15 minutes.
Agree, except the ball is in JP energy's court. Being a private company, they don't share much.
Not correct. It says 120 days unless both parties agree to extend it.
We do not yet know the actual cause of the delay.
It is due to terminology in the 8k vs the acquisition agreement, but that's all we know. Anything else is speculation, which is fine, but until we know what the real problem is, we are just guessing. I am disappointed that they didn't fix the error in the 8K yesterday.
On the other hand, if it is due to the audit, we should only have to wait until it is completed, and they have 4 months to do that, and even then it can be extended by mutual agreement. It seems to me that leaves things pretty open ended at this time.
In the September 19 announcement of the merger, this was said:
"JP Energy Group’s mission is to become a global supplier of top-quality food products and commodities for its clients in the Pacific Rim. This strategic move underscores JP Energy Group's unwavering commitment to delivering excellence to international markets and solidifying its position in the global food distribution network. The audit of JP Energy Group will be filed within 75 days following the acquisition's completion."
Sept 19 8K
Nates changed accountants AFTER the merger was announced:
On October 6, 2023, Nate’s Food Co. (the “Company”) dismissed Pinnacle Accountancy Group of Utah (a dba of Heaton & Company, PLLC) (“Pinnacle”) as the Company’s independent registered accountant. Also on October 6, 2023, the Company engaged and executed an agreement with GreenGrowth CPAs (“GreenGrowth”), as the Company’s new independent registered accountant.
Accountants changed
And finally, the acquisition agreement makes no mention of any orders or funding:
https://www.otcmarkets.com/filing/html?id=16941153&guid=4q5-kaklD0XDTBh#nhmd_ex1_htm" rel="nofollow" target="_blank" >https://www.otcmarkets.com/filing/html?id=16941153&guid=4q5-kaklD0XDTBh#nhmd_ex1_htm[Acquisition Agreement[/tag]
So, instead of telling the SEC what the holdup is, they used numbers and then entered a typo. That calls for rereleasing the 8K with corrections. That is what I meant the other day about reviewing sec filings carefully before posting them. This one was posted without the requisite review, and the error is the result.
So, either the audit was not completed (my opinion) or something else. You can't trust the words until we see the actual truth. No matter what opinions we may hold.
Bought 15M more shares, averaged down...
As far as I'm concerned, nothing has changed. When companies put dates on things before they are done, you can expect delays. Everything takes longer than anticipated.
The hold up is the JP Energy audit.
There is no 3.01 in the merger document, but section 3.1 says that JP Energy must be audited. Then, after 120 days, if not completed, the whole merger is off UNLESS extended by both parties.
They don't say when they are going to release any SEC filing. It is filed after it is written, reviewed, edited, reviewed again, etc. It is done when it is done. They don't pick a time or a day - unless it meets an existing requirement.
Been there, done that. Every filing has to be checked and rechecked, because no one likes to have to correct an incorrect SEC filing.
No, the merger is on regardless. By becoming a public company it will be easier for the company to borrow money.
You are entirely wrong. Only mm's can short penny stocks, and they have to cover the same day or publish their shorts monthly. that's why you see stock activity after the close.
Unbelievable how gullible some people are.
Ok, smart ass, my standard response is this: Short the stock, and prove it. First of all, your brokerage won't permit it. Not one person has ever met my challenge in over 10 years of doing this. It is just jaws wagging 'oh yeah, you can short any stock. Prove it. Not to mention that it doesn't make financial sense on a pinky, which is volatile to start with.
no one is shorting this stock. It would not make sense in the first place. Margin requirements of about $2.50 per shorted share will keep anyone from putting up a quarter million dollars to short a penny stock where the most they could expect to 'win' would be $10s of dollars.
And MM's? The MM computers (only) run all the trades. EVERY.SINGLE.TRADE is logged forever. OTC mm's are computers only not people.
Apparently, some traders hang onto old notions, even when they are impossible.
So, you earned yourself an ignore, as it is plain that you don't understand how the stock market works, and thus have nothing of value to contribute to those of us that are genuinely interested in seeing how the current process works out.
You couldn't be further from the truth. There are no people looking at these stocks. The OTC is automated, which means only computers see the orders. The job of an mm is to take your order and fill it, if the order hits their spread. There are many Mm';s, each with their own spread. If an order matches a spread, the MM HAS to take the order, for the quantity listed in the spread. MM's don't give a rip with stock price does, because their money is made on the spread. Both the seller and the buyer pay a fee for handling the transaction. NONE of us could trade without MM's. If they want to dump shares, their quantity will be higher the offer.
If you wonder who jacks the share price around, look at your fellow traders. Not necessarily on this gossip board, but out there trying to make money. If you sell a bunch of shares at market, you will dump the price. If you buy a bunch at market, the sp will increase. If you do everything at a limit, as I do, you can have buys and sells at the same time, one for selling at a higher price, another for buying at a lower price. I don't have to be anywhere a computer for my stocks to be bought and sold.
I have all the bashers on ignore. All I see of them now is what others have to say about them.
You should keep your trading ideas to yourself. Everyone wants to make money, and there is more than one way to do it. But seeing traders blaming other traders for share price action is simply stupid.
I don't tell anyone how they should trade. But every trade I ever make is at a limit. I have buys at lower prices and sells at higher prices. Always good for 60 days. That gives the share price 2 months to rise or fall to trigger my trades. Anyone can do that. But badmouthing others for their trading style is ignorant.
Why would you care what someone is willing to pay for shares, or what they would sell them for? That is called TRADING. SMH!
That's what the ignore button is for. Most people on this gossip board are already ignored by me. I read what reasonable people have to say, not pumpers, not bashers, and not airheads.
Found in the last annual report:
Nates became a public company through a reverse merger in 2014.
The details are:
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.
This should provide insight into what is about to happen again. Above, it can be seen that Nate's Pancakes, Inc, was incorporated in the same month as the reverse merger took place. JPEnergy Group, LLC is similar in that it was incorporated simply to effectuate the RM. Once completed, there was a name change.
To see what happened to the stock after the merger, see this link:
Capital Resource Alliance Inc. stock price after the RM
Why did NHMD rise from trips to its current level?
I always look for a reason for spikes in share price, but with Nates, I didn't find one. It finally occurred to me that the reverse merger must have been in the works for a lot longer than we know of from filings. I have to assume employees of JPEnergy loaded up shares from the trips. With over 3B shares in the OS, it would take significant buying to move the SP by 10X, yet that's what happened.
FOTU - Fear of the Unknown. No one knows what happens next, other than the reverse merger continues to move forward. After that?
I have to ask what part YOU don't get? Nates will be GONE as soon as the merger completes. No Nates employees will remain, no Nates business will remain. A new company with newly appointed directors and a new CEO will be starting a brand new company with a new name and business model. WTF is not to understand?
If the ticker is NHMD at merger, it won't be for long.
The merger filing gives the timeline.
"The officers and directors are empowered to execute any additional documents required to close the acquisition on or before November 15, 2023."
Jeeze, folks. read up on what a reverse merger is, then read the filings. A reverse merger is when a private company goes public by merging into a public shell company. That is what is happening here. Instead of talking shit, why not just read the merger filings and get it right? I KNOW you haven't read it or you would not make inane comments like it is not a merger. Nates is not 'buying' anything. It is giving Jpenergy group LLC voting shares, which effectuates the transfer of ownership. The name change will follow. All of Nates directors and CEO will resign upon the merger.
So you think the surviving company name will continue to be Nate's Food Company? I don't.
The filings STATE which will be the 'surviving company. It is Jpenergy Group LLC. Along with a name change will come a ticker change. All one has to do is READ the merger filings.
I've been around long enough to go through reverse mergers. The company will be renamed, and every share of stock will be recalled and renamed. THAT is when you can't trade it. The TA is responsible for that activity.
I have to agree.