Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Given the T/A's last update on the O/S and given (all) the notes' conversion terms, we should really be finishing up with dilution soon. Should move back up rather quickly.
From the last 10-Q:
IMO, the 850k loan is not a convertible note. It was a bank note that was related to a private company - I think it's a simple debt financing; also, there's no reason the $850k loan would/could somehow become convertible after ELTZ assumed the note after acquiring Pirate - the note was always specific to Pirate. The only question is whether he's using proceeds from convertible notes to cover the payments on the $850k loan. There's no way of knowing at this point but, if Pirate is generating some half decent income, I'm sure the $850k loan gets paid out from their income.
You allege he's a kkon artist, but I can't believe you don't know how kkon artists work. Whether he's legit or not, he's NOT letting this drop to no bid; think for one minute.
Yes, very possible. I expect it could be scheduled in March 2019 or mid-April 2019. The trial scheduling conference was pushed back 4-and-a-half months. Maybe everything involving the trial (i.e. pre-trial conference and actual trial) will follow suit.
I'll try to check out what happened in VHC; unfortunately, I'm so strapped for time these days. Don't they need leave to appeal to Supreme Court, even to obtain a writ of certiorari? Either way, I have a lot more reading to do.
I think Tecco owns 200M, so he has selling restrictions, so I didn't count it as part of the float....
:p
Either way, we are moving back up now. Bottom was in, time for this baby to swing back up to where it belongs. Everyone has examples of similar-type plays with large floats that ran. I always point to M*EX which had a float of a billion and ran to 0.05, but there are a ton of others. Here, we are at 350M shares, the last of dilution finishing up, now it's time to FLY.
ELTZ
See the attached Exhibit from the Jan. 16, 2018 order:
">" />
* Sorry, I don't know why the picture copied twice.
The Daubert Hearing still has to be set and will likely be in November or December, maybe even a bit later. It will determine what expert evidence will be allowed to be introduced in this case (i.e. read this page for example: https://www.omsj.org/legal/daubert). By the point of the Daubert hearing, you have almost the entire theory of the case (fact discovery & expert evidence) laid out by both sides. After the Daubert hearing, you'll know exactly what expert evidence will be allowed at the trial.
You have to do quite a bit of reading to figure out the nuances involved here as there are various aspects involving anything from patent validity to patent infringement (which is further complicated by their adjudication in different venues). There's a mountain of DD here, but isn't insurmountable :)
The parties consented to push the trial date back a bit as per the updated, modified schedule ordered on January 16th. The court will set the new date. IMO, this was done so that the interim steps in this case, before trial, can be appropriately dealt with (e.g. they're still dealing with fact discovery and got a 60-day extension to finish up with the fact discovery). In any case, if it settles, I think it should settle after the Daubert hearing (if the defendants don't come to their senses before then). We'll have to see how things unfold.
Lol, it's not years of litigation. It's like a week-long trial and, IMO, Chanbond will likely be successful in consolidating the various claims against the various defendants into one adjudication.
Flight time!
ELTZ
I think he needs to release the Q before he can release an 8-K.
Also, twitter is perfectly fine. Reg FD allows it and companies can be held accountable by SEC based on "tweets."
I'm looking forward to the release of these Qs and the press releases that will surely follow. What transpires in the next few months will be important to say the least.
OMVS
Maybe mammoth "bought" the notes in October but the closing date was later, who knows? Maybe mammoth is "friendly" but will not necessarily hold off on converting the matured notes (or hold off on converting a part of the matured notes). Who knows?
I expect we'll get updates, but not when everyone expects the updates.
I know people are getting antsy, but, at this price, the risk v. reward isn't too bad.
A few small updates on Pacer re: the Atlantic Broadband Group LLC litigation.
The pre-trial conference date and the first 5-day jury trial will be extended to a date to be set by the Court.
ChanBond retained another lawyer in addition to its current lawyers. Her name is Lana Milojevic (she's not licensed in Delaware federal court, but she obtained special permission from the Delaware Court to represent ChanBond in this matter).
http://www.mishconnewyork.com/people/lana_milojevic
Because of the collateral requirements of some of the convertible lenders. Most of the lenders require a reservation of common shares of at least the full convertible amount. Some lenders require more collateral, like a reservation of shares equal to 7 times their full convertible amount. These are the type of lenders that want your first-born child as collateral.
ELTZ
It can be a tedious task. You have to look at the conversion terms of the existing notes that are due (and also ensure there are none that allow for conversion before maturity; again, you have to check the language). IMO, most of the notes will contain a specific clause that prevents the note holder (i.e. the lender) from converting shares to the point where they become owners of 5% or more of OMVS. At that point, they become "beneficial owners" under Rule 144 and are subject to limitations on how many shares they can trade. This is not a situation the note holder wants to get into. The note holder is still restricted by this 5% maximum conversion language in the terms of the note because of section 240.13d-3 of the Securities Act which says:
A person shall be deemed to be the beneficial owner of a security, subject to the provisions of paragraph (b) of this rule, if that person has the right to acquire beneficial ownership of such security, as defined in Rule 13d-3(a) (§ 240.13d-3(a)) within sixty days, including but not limited to any right to acquire: (A) Through the exercise of any option, warrant or right; (B) through the conversion of a security;
This portion of the Securities Act leaves the note holder open to becoming a Rule 144 filer if he has the ability to convert shares that make him 5% owner, even if he doesn't actually convert those shares. The only thing that restricts his ability is the language in the agreement with OMVS that prevents him from ever converting enough shares to make him 5% owner (that's why that language in the agreement is basically required for the note holder).
So, you have to keep in mind that these note holders are restricted in how much they will actually convert. They want to stay under 5% ownership at any one time. I would ignore the silly comments that suggest that we'll be hit with an avalanche of new shares in the O/S.
Keeping that in mind, you then look at the daily trading volume since the last known O/S (which is found in the filings), then look for the presence of dilutive MMs, then look for any abnormal/unexplained spikes in volume, etc. You can come up with a pretty good guess by the end of it all.
Either way, the O/S will be in line with what most people's reasonable expectations are.
$$$ OMVS $$$
You can still make an educated guess about the O/S. It admittedly takes a bit of work, though, and no one likes doing work these days.
I'm Canadian and I've never heard of a body of government, whether federal or provincial, called the Canadian Securities Administration. Are you maybe referring to the Canadian Securities Association (which is something totally different)? Here, we don't have a federal body like the SEC; instead, we have disjointed, inconsistent, overstretched, and impotent provincial securities commissions. We are light years behind in progress compared to the U.S. in terms of securities regulation and associated legislation like Dodd-Frank and Sarbanes-Oxley. But that's a conversation for another time.
The cease trade is simply due to bank policies. With TD, for example, if there's a cease trade in one province on a specific security (although that security is tradeable in other provinces), you won't be able to buy that security in any province if you use TD's trading platform.
Good luck to everyone. There is a great risk vs. reward here.
This year will be great, Eng62. Absolutely explosive and I expect we'll get through the 52-week high well before the end of spring.
It's coming.
$$$ OMVS $$$
Good to have you back, now let's see this baby fly back up again. Bottom is in, may be time for some of us who've been here a while (and in the red) to average down at this point.
ELTZ
Yes, however, no one gives AF about daily price action on this one. A few scalpers came through yesterday due to volume scans (although there are much better scalps available in MJ and crypto assets). Vast majority holding for $1.00+ which will happen this year IMO.
FUSZ
Am Lukin4ward to it lukin. Back up we'll go soon enough!
We will move back up fast and unexpectedly.
$ ELTZ $
Just the Auctus Fund, LLC $65,000 note (balance around $48k as of last 10-Q) and the GS Capital Partners, LLC $51,700 note (balance around $22k as of last 10-Q) require that almost 1B shares be reserved as collateral for those note holders. Add the other convertible notes that require a certain amount of shares to be reserved as collateral and you will understand why Tecco had to increase the A/S.
I agree with you. We need to see how they are managing the debt with Mammoth who was stated to be buying most of the existing notes. Mammoth will of course convert some of the outstanding balance into shares, but the real question is how aggressively are they converting? If they're not too aggressive, then everything is in line with what was represented. We also need updates on revenues from these acquisitions. Need to see some profitability or at least see that things are turning around if they were previously unprofitable (i.e. Pirate, if applicable).
Yes, req'd for noteholders' share reservations. Not "ouch" at all.
Bingo. Most scammers let these companies go dark after 1 or 2 bogus tweets. Tecco isn't going to let this drop to no bid after collecting a few $10k payments. Would he really acquire an unprofitable BK company that he can't turn around? Don't think so. There are easier ways to scam investors out of money if that's the intention. Of course, things are moving at a snail's pace right now; however, once the momentum starts up, we'll be back to pennies in no time.
$ ELTZ $
"2018 - GET READY"
Hard not to get pumped here . . .
Daaaaaaamn ... wish I had more $$$ to have averaged down over the last few weeks. I knew this day would come :)
Still the same. They consented to a 5-day jury trial to start November 26, 2018 (at least in the Atlantic Broadband Group, LLC case). June 15th we'll know whether Chanbond can consolidate the various claims against the various defendants into one single trial; if not, then separate trials will be required against each defendant.
Happy New Year, Rory, and everyone else. May 2018 be filled with health, happiness, and unprecedented success in every area of life.
I think the buyout is just a silly Internet rumor; no way it would "leak" and get posted about on iHub.....
Latest update in the Delaware case:
The Defendants today subpoenaed a 3rd party to be deposed at their law offices. An individual residing in N.C. named "Cathleen Thomas Quigley." Not sure who this person is or what knowledge they have about the case...
Haha, Cisco's sneaky lawyers paid by the hour by their client and now capitalizing on their losses by buying shares in UOIP. Looking forward to some good news eventually.
Yes, exactly Samir, there are different streams involving this litigation. It could be anything. The darn court reporter for all anyone knows could be buying up shares.
You're welcome. In any case, we really shouldn't be trading lower than this during our wait. Kind of mind-boggling that it's even got this low, but heck, it is the OTC after all...
I don't see anything new on Pacer for the Article III court hearing. This is the latest Notice of Service served by the Defendants on Dec. 22nd:
"The undersigned hereby certifies that copies of (1) Defendants’ Amended Identification of
Prior Art References; and (2) Defendants’ Ninth Supplemental Invalidity Contentions and
accompanying exhibits were caused to be served on December 22, 2017 upon the following in
the manner indicated:...."
Hi Bad_Dog, you were (and still are) a great asset. Focus on your health and eliminate stress. Praying for a speedy recovery.
FACT: Regulation FD exists. It's real and was enacted for a reason.
Your other "assertions" are quite anemic. There's no real substance to them and they're rather vague. In fact, they were previously addressed on multiple occasions. GLTA here.