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I clicked on some of the cases. Did you see some of them go back to the 90's? LOL. My conduct back in the 90's was probably worrisome as well! And many were dismissed, LOL. And some are included where Tecco was the plaintiff, LOL!
There was a Canadian billionaire who, along with his wife, sadly died under somewhat suspicious circumstances a few days ago. He had a net worth of approximately $3.2 Billion and was the founder of a highly successful pharmaceutical company, Apotex. He was involved in over 150 lawsuits. Do we impugn his business conduct or his company's likelihood of success because he was involved in so many lawsuits?? Some would want you to think that way.
It's just as plausible that he increased the A/S to comply with the reservation requirements of the convertible notes. I have to double check, but I think he had to do this well before the acquisitions. In any case, I don't think you should be too concerned. We'll bounce back up to 0.006s soon enough.
Sorry, how did Tecco make hundreds of thousands on notes? He draws about $10,000/mo. for his salary.
Yes, the companies were purchased with convertible debt, but that's not the only reason A/S was increased. Many of the notes are collateralized by a reservation of shares. Just the Adar Bays and GS Capital notes alone require a reservation of close to 385 Million common shares as security. He would have been in breach of those loan agreements had he not increased the A/S.
And he was paying interest through his arse on some of the defaulted notes. Good news is if Mammoth buys the remaining ones (including the defaulted ones), he can mitigate those ridiculous interest expenses.
Easy 10-bagger from here once dilution slows and we get solid details about the acquisitions.
Can someone please explain how M*EX ran to a nickel on 1.5B shares O/S (I assume the float was also about 1.5B) and why this ticker can't at least run to a nickel if not more?
Once we get a touch more information about the acquisitions, this thing flies, just watch. Right now it seems there are worries about dilution and not enough certainty about how much net profit the acquisitions will generate (or can potentially generate). Get in now at higher risk, greater reward if the acquisitions and potential end up being good. Get in later at lower risk, less reward once the details are properly disclosed.
$ ELTZ $
My guess, assuming they can be converted before maturity date, assuming they're using lowest prices (i.e. the recent share price dips to 0.001 and 0.0009), and assuming the balances are the same since Sept. 30, 2017, it's about 100M shares total. But this also assumes conversions can all occur without the note holder having to file beneficial owner documents with SEC.
ELTZ
Other bloated pigs in oil and gas (like M*EX) run to $0.05 on 1.5 Billion O/S and no revenues. Is there any reason, with the right income-producing acquisitions and keeping O/S under 500 Million, we can't also run to at least 5 cents? That's a 30+ bagger from these levels. This should be at least a 10 bagger from these levels. Nothing wrong with that, IMO. I personally got in much earlier and my avg. is a lot higher than I would like, although I've averaged down a bit too over the past few months. I'm quite content to see us hit 5 cents or higher and I think it's quite possible as the details unfold.
Yes, there are some drawbacks - (i) "next week" around here doesn't literally mean next week, (ii) there are some notes that have killed one or two runs, and (iii) we don't know the details of the acquisitions (which allows people to speculate one way or the other, for example: (I) great, a $6.5M - $8.5M revenue generating property vs. (II) Tecco bought it because it was BK and, since it was BK, there's no way it's cash flow positive).
But look carefully and the positives definitely outweigh the negatives. The tweets have been a little capricious (no sh*t, it's pennyland) but, as a matter of fact, all things have come together and eventually materialized. The remaining notes that are currently ripe for conversion are almost done and the remaining convertible notes are being purchased by Mammoth. Although that doesn't prevent future dilution, there's a very good chance that it does delay dilution and it does temper dilution if, indeed, Mammoth is working with Tecco and allowing him to get the business going. As far as the details of the acquisitions, those will come out in the 10-Qs and 10-Ks, no sweat. Acquisitions are happening and the balance sheets obviously don't have to be too stellar (i.e see M*EX). As long as there are improvements in the business, this will run.
All good here with ELTZ, IMO.
Good info, thanks TL&TL.
Yeah, that's what it looks like. Mammoth is the holder of most of ELTZ's notes anyway. And the conversion rates with Mammoth isn't any worse than the other note holders' conversion rates. Consolidate them all with Mammoth, a good deal IMO.
$ ELTZ $
LOL, nice try but the issue was never the current valuation.
The issue was a simple one: how many shares are going to become imminently dumped into the float given the convertible notes that have matured? Filings history and some math (along with a basic understanding of Rule 144, volume and MM history on trading days, etc.) gives you some insight and allows you to draw some reasonable inferences about the note holders.
$$$OMVS$$$
Agreed, excellent article!
Light1soldier's post should be stickied.
Well, the math is based on "the FACTS and history..because it does repeat." We have notes that have long matured and, yet, not converted. Those are historical (check the filings) and factual (check the filings).
As for your allegations about GP being involved with those listed stinkie pinkies, well, I can see why you used the word "involved." It is thoroughly equivocal. For example, what's GP's involvement in KOLR? There are 71 KOLR filings with the SEC only two of which have GP's name on them: a Form S-3 filed September 10, 2004 showing GP (along with a few others) owned 10,000 shares and a Form S-3/A filed December 22, 2004 showing GP (along with a few others) owned 10,000 shares. WOW, talk about involvement! lol!
I drove by a car accident yesterday, I must have been involved in the fender bender. I own shares in several stocks, I must be involved in those companies. I was a guest at a political speech many years ago, I must be involved in politics. Let's get real, these connections are tenuous. As for the other listed companies and your assertions there about GP's "involvement," well, it's a good thing the RAD army can do sufficient DD to rebut such equally tenuous and equivocal assertions. We know what we own (but nice try though).
$$$OMVS$$$
Funny thing.
As of the last filing, only about 8.2585% of the principal amount due of the convertible loans was actually converted into shares (we're talking notes that were 3-51 months overdue). And yet a lot of folks here claiming a ton of conversions are set to occur. LMFAO!!
Good luck with your hypothesis. I'll stick to simple math to draw my conclusions.
$$$OMVS$$$
Yes, I don't disagree with this at all. It just seems there was this innuendo presented that any "commitments" signed by RAD weren't truly binding; in other words, unless they're valid, signed agreements, they don't mean anything. I simply wanted to rebut this erroneous assertion (even if the erroneous assertion was based on speculation).
$$$OMVS$$$
Good morning, lukin4winners and others.
It seems like it's going to get exciting in here very soon. The typical OTC-level impatience along with some notes and an increase in the O/S (still very low) was the only thing that put a small damper on this. The company is making progress and that's all we should really care about to distinguish ourselves from the run-of-the-mill pink sheets. The refinancing details and Pirate revenues could and perhaps should propel this to new heights that we haven't seen for weeks (...with more coming!!). I'm very curious to see the refinancing details.
I just hope thekid hasn't sold yet.
ELTZ
Yours is quite an interesting assertion. It seems others have posed the same concerns as well.
Does the King of Edgar check the Edgar database for filings? Apparently not.
LOL, oh my! Nice post.
LOL, first of all, that float number on the OTC website is from 2015. Why don't you read the last filings for a more up-to-date number? Second, how does the float automatically change to 1.9B? In what world does the float exceed the A/S? You clearly don't know how the "process" works, lmfao! Good luck in all your investments & trades...
I respectfully disagree.
The SEC just enforces specific federal legislation, but it doesn't dictate legal duties & standards of care. There's actually a bunch of stuff that governs this fiduciary duty analysis: state law and federal law (like the securities act, the securities and exchange act, the dodd-frank act, the sarbanes-oxley act, etc.), but the latter deal primarily with fraud, misrepresentation, etc., which are more serious breaches of one's fiduciary duty. I don't see anything in the federal legislation that imposes any particular duty on SR and GP vis-a-vis the shareholders to timely file the 10-Q. The legal test is found in state law and so are the defences, such as the business judgment rule. Anyways, you will not find any cases where a public company's failure to timely file a 10-Q (in the same manner as OMVS) constitutes a breach of the directors and officers' fiduciary duty to investors.
Get ready, that 10-Q is coming.
$$$OMVS$$$
Let's see what Tecco's doing. Could be epic like some have suggested. The devil is in the details and we could certainly have one devil of a time here in short order....
So far, so good.
$$$ELTZ$$$
I respectfully disagree, Huggy.
This is a Nevada corporation and I believe its directors and officers' fiduciary duties are governed by NV law.
There's a heavy reliance on the business judgment rule when considering whether NV directors and officers are discharging their fiduciary duties towards the corporation and there's an automatic presumption that they're "acting in good faith, on an informed basis, and with a view to the interests of the corporation in making business decisions."
Failing to file the 1st quarterly report after acquiring RAD doesn't automatically constitute a breach. There's a lot of deference extended towards the business reasons they had that caused them to file late, including their reliance on other professionals.
No, I disagree. No one is refusing to comply with their fiduciary duties.
How are either GP or SR breaching their fiduciary duties? You simply copied and pasted some snippet of a (partial) definition of "fiduciary relationships" from the internet and asserted that, thereby, GP and SR are misleading and uninforming investors. I have no clue what you mean when you say uninforming investors; perhaps you mean to state "misinforming?" In any case, they're doing neither. Where is your prof of this?
The filing of the NT-10Q stating that they only need five says or less?? Is this truly your theory? Rule 12b-25 is standard protocol in attempting to obtain a filing extension. The filing form's "narrative" section requires that prepopulated/preconstructed language to be inserted in that space. You can't just state whatever the heck you want, lol. The only important thing is to ensure we don't run afoul of FINRA Rule 6530.
And what about the material event filings? Many material events occurred prior to the RAD acquisition when it was still a private company and the said events, therefore, are subject to NDAs that remain enforceable even after OMVS's acquisition of RAD. Secondly, have you heard of Regulation FD? Respectfully, you should Google it. And also try to read it. And also try to understand it, lol. You'll hopefully understand that there are some exceptions to Rule 8-K filings.
Fiduciary duties are being complied with in every respect here. That's a fact.
$$$OMVS$$$
Yes, more favorable since GP started running the show. The old notes' rates were basically set at 97% and 83% of current pps. The 0.001 conversion you referenced is only for the smallest notes. The new notes have MORE FAVORABLE conversion rates - a lower amount of shares are converted (on a converted dollar per share basis of the outstanding loan).
I don't understand your debt and equity statement. All I'm saying is they can procure debt financing (i.e. a loan with principal and interest not convertible to shares) or equity financing (i.e. a loan with principal and interest convertible to shares or simply exchanged for shares). Why can't they do this?
And of course the debt doesn't go away, but it does get reduced and, in some cases, debt gets put to good use (helping to financing operational expenses, etc.). This is what's happening here. The company is making great progress given the stage it was in prior to the RAD acquisition. That's a buy signal for me.
Exactly lukin4winners; 99%+ of companies in the OTC are worse off than here in terms of their toxic financing and 99%+ of companies in the OTC are worse off than here in term of their revenues.
The financial picture here has to be put into context, this isn't the big board. Convertible debt financing is the name of the game in the OTC and, all things considered, we're perfectly fine (or, at a minimum, there should be no shocked looks after reading the 10-Q). We have to keep our eye on the acquisitions and the revenues generated by those acquisitions, that's what will make or break us here.
ELTZ
I again bring up MM*X, a ticker most of you guys know about that's in the oil & gas sector. Look at the dilution and notes there. Almost 1.5B O/S and about 476M shares added to the O/S in three months' time. Currently trading at 0.013. I'm sure we can get to over a penny here, even given the negatives.
Thanks LGJ, I also agree with your previous, deleted reply :)
I honestly have a very hard time understanding you and I apologize for that in advance. I think there is some sort of disconnect here.
When you say:
Best is just to read or re-read what I said.
For example:
"This is the same with many of the currently due notes. THE NOTE HOLDERS AREN'T CONVERTING." The operative word is: many. Many of the currently due notes are not converting. Have all the matured, convertible notes actually converted? NO.
You yourself previously posted many times that (i) the entire note gets converted at the date of maturity and (ii) note holders like to do this conversion quickly so that they don't have to file legal documents (and you even stated that your theory is corroborated by Google).
I never said no dilution, I said not maximum dilution and I implied controlled & managed dilution.
As for:
Indeed. I've been holding this one for so long and only looking at this ticker occasionally. I could care less about any bigger dips or jumps in SP from my average. I've done all the DD I need to do and I'm waiting for pennies - and I know it'll get there in time. And I have time...
From the various 10-K filings. Read the attributes of the preferred shares carefully. Series E is to maintain control of the company. Series F is convertible to common and it's very much impacted (directly or indirectly) by any dilution of common. It's in OMVS's best interest to keep the float low and give it breathing room vis-a-vis the A/S amount. In other words, just like most companies, if the company does well, the executives do well and vice versa.
Preferred Stock
We are authorized to issue up to 20,000,000 shares of $0.001 par value preferred stock. The board of directors is authorized to designate any series of preferred stock up to the total authorized number of shares.
Series E Preferred Stock
The board of directors has designated 4,350,000 shares of Series E preferred stock. As of the date of this report, there are 1,000,000 shares of Series E preferred stock outstanding. The Series E preferred stock ranks subordinate to the Company’s common stock. The Series E preferred stock is non-redeemable, does not have rights upon liquidation of the Company and does not receive dividends. The outstanding shares of Series E preferred stock have the right to take action by written consent or vote based on the number of votes equal to twice the number of votes of all outstanding shares of common stock. As a result, the holder of Series E preferred stock has 2/3rds of the voting power of all shareholders at any time corporate action requires a vote of shareholders.
Series F Preferred Stock
The board of directors has designated 4,350 shares of Series F convertible preferred stock with a face value of $1.00 per share. As of the date of this report, there are 1,000 shares of Series F convertible preferred stock outstanding. The Series F convertible preferred stock is non-redeemable, does not have rights upon liquidation of the Company, does not have voting rights and does not receive dividends. The holder may, at any time and from time to time convert all, but not less than all. of its shares of Series F convertible preferred stock into a number of fully paid and nonassessable shares of common stock determined by multiplying the number of issued and outstanding shares of common stock of the Company on the date of conversion by three and 45 100ths (3.45). So long as any Series F convertible preferred stock are outstanding, the Company shall not, without first obtaining the approval of the majority of the holders: (a) alter or change the rights, preferences or privileges of any capital stock of the Company so as to affect adversely the Series F convertible preferred stock; (b) create any Senior Securities; (c) create any pari passu Securities; (d) do any act or thing not authorized or contemplated by the Certificate of Designation which would result in any taxation with respect to the Series F convertible preferred stock under Section 305 of the Internal Revenue Code of 1986, as amended, or any comparable provision of the Internal Revenue Code as hereafter from time to time amended, (or otherwise suffer to exist any such taxation as a result thereof).
Series G Preferred Stock
The board of directors has designated 1,000 shares of Series G preferred stock. As of the date of this report, there are no shares of Series G preferred stock outstanding. The Series G preferred stock is does not have voting rights, does not have rights upon liquidation of the Company and does not receive dividends. These shares were created after February 28, 2017.
Ok, but I think you've copied and pasted about convertible notes applicable to seed financings, which is inapplicable here.
Let me understand your logic about the conversion:
Do you short off-shore or in the Bay area?
Great close again. More eyes on nFUSZ with the new IR blitz. Low floater. Industry disrupting CRM product. Up we go!
The TA is still quite relevant here and demonstrates that the pps can jump either way with small buying / selling. It appears the market still needs more info on acquisition details, which it hasn't received. And on note refi details, which it hasn't received. The devil is in the details and, if the details are good, which is yet to be revealed one way or another, then this thing will fly. Common Tecco, give us some positive information!!
$ ELTZ $
It'll be dealt with by the release of a positive 10-Q. Right now noteholders can't dilute. Once positive 10-Q drops and OMVS goes current again, any negative effect on the pps from dilution will be mitigated by buyers coming in. I wouldn't be surprised if 10-Q gets released as late as the last week of November. imo.
0.10's should really be our new support.
This should be stickied....
Did the MA50 for sure cross below the MA200? At the chart I'm looking at on stockcharts, it looks like it (the MA50) was heading that way and now looking like bouncing off the MA200. Can the MA50 bounce or do we need a few more days to confirm the death cross? On a separate note, do you guys use any stock scanners for trading? I have a subscription for one and I've done o.k. with it using the pre-programmed algorithms, I just wish I had more time to learn this stuff properly...