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If I remember correctly Massey had his preferred B's converted to common as collateral for the bank loan which never came. What was left was the preferred A which gave him the voting rights and was subsequently relinquished when Tribeca took over. So basically he has those covered common shares left.
Hi Pembroke,
Yes, the discount is at the issue, so what you described seems accurate.
Hi Pembroke,
Sort of like that, on your second question not sure if it would be more than 11, but the effective interest rate is definitely more than the 6 percent considering the 5 percent original discount.
Hi Pembroke,
Though I am not an expert on this, I think what it means is that the interest burden is only 6 percent, however they will take a cut in the form of the loan amount, for ex, they get only 5 percent less than 25 million but will have to repay 25 million or maybe they get 25 million but will need to pay 5 percent more than that. Frankly I think this is a better deal for a company having immediate cash flow issues as the burden of repayment is in the future whereas the interest burden is immediate.
Twitter Update : Solar Integrated ($SIRC) has been invited for an interview by STOCK NEWS REPORTS on the floor of the NYSE for a Q+A on Feb 10th at 11:15am ET to discuss matters of the company moving forward.
Solar Integrated ($SIRC) has been invited for an interview by STOCK NEWS REPORTS on the floor of the NYSE for a Q+A on Feb 10th at 11:15am ET to discuss matters of the company moving forward. Please stand by for more info!!#NYSE #SOLAR #FUNDING pic.twitter.com/6tQfHL9dhK
— Solar Integrated Roofing Corp (@SIRCStock) February 2, 2023
"Also, SIRC actively working with capital markets for funding. ", that does not give much confidence to investors, we have been hearing that for quite a while, it is almost time to see some results on this front.
Right, if Pablo's company brings so much revenue to SIRC, why would they want to reverse the acquisition, it is only Pablo's claim, what SIRC claims in the lawsuit is the exact opposite, that there is no significant revenue being generated by Pablo's company and SIRC was mislead on this.
Absolutely, nothing but lies from Massey, no wonder this stock is tanking when the whole market is ripping.
TripTrap, with all these overwhelming catalysts in front, why is not smart money accumulating SIRC shares? We seem to be stuck at the bottom.
I agree that the next three weeks are critical, we will know which way things are headed for SIRC. Specifically, on the funding part, if they have trouble getting even that 10M loan, I would say things would be looking bad here.
QB + being SEC filer (as per SIRC once form 10 becomes effective QB should happen) should give more credibility to the company, I think one reason why the stock price is not moving is because the stock is still on OTC pink and no big investor is going to touch it as long as it stays pink.
Completely agree, Massey wasted lot of precious time, I suspect he was going slow on Form 10 in the hopes of getting the Arbiter loan. We would at least be on QB by now had Form 10 been done earlier in addition to getting funding.
Yes, overall it looks like one of those Nigerian scams were you have to first send them a small amount in order to receive a large one that never comes. Basically SIRC got taken for a ride by these guys.
The only positive that I can see is that with Darrin's arrest, Arbiter might not want to invite more legal trouble that would put them in a bad light. Also SIRC gave 4.2 M to the Arbiter Capital here in US and not the bank in Lucia, so the legal option could work out to get the money back.
Now what happens, looks like SIRC will loose this 4.5 million, right? Arbiter is pretty much dead with Darrin's arrest.
In case none of you know it already, seems whole Arbiter deal was scam, that Darrin guy got arrested for wire fraud charges. Massey got scammed. StockTwits is boiling over on this. What's even worse, seems SIRC Pais some 4.5 million to them in order to get the 42 million, not sure about the veracity of this claim.
Yes, revenue 66 million, EPS 4 cents, its really huge for an OTC company.
Okay fine, but what magic does Massey have under his sleeve to convince Nasdaq that the goodwill on balance sheet is not a problem, they just seem to keep changing the story, first it was OTCQB and then Nasdaq, then it became QX and Nasdaq much later, then it again became OTCQB and then quick uplist to Nasdaq, now it is direct to Nasdaq, not at all convincing.
That is a misleading headline, they still can't even get to OTCQB and gullible new investors are going to throw their money thinking that they are soon to be on Nasdaq.
Arbiter Bank website (posted on ST today)
http://arbiter-bank.com
Now Massey says, no big reverse split, what does that mean, there could still be one, huh?
I was initially tempted to believe that, but if the acquisitions had closed, why would they not do a PR on that right away? So it looks to me that they updated the website without even the acquisitions closed, so the whole Arbiter thing is still in question.
Wonder why they went to a bank in the Caribbean, that place is known for tax evasion and other shady stuff.
Larry, I think we will get there coming March when these numbers come out audited.
Sorry for your loss Timmy, hope things start turning around for you.
Oops, I meant uplist :)
Is the company purposely delaying the uplift to buyback at lower price, there is no other excuse for the delayed uplifting.
But would it be an audited report, else it might not carry much weight.
That would be amazing, it is almost like they are moving towards becoming a solar energy utility company.
Yes, it almost looks like the audit itself is not complete, or there is at the minimum a severe gap in Massey's communication, when he says audit being completed, seems there is still paper work required to actually file it.
That is where the QB uplisting can help, we need institutional investors who can suck up those shares, there is only so much that retail can do to combat the selling pressure.
That name is definitely more appealing, then maybe the ticker symbol can also change, to SLEV perhaps?
I read that TD Ameritrade will not loan out your shares, if your account is cash account, so removing margin on your account if you don't really need it might help here.
What can you do to prevent your shares holdings from being shorted?
https://www.contracts-for-difference.com/borrowing-lending-shares.html
It is highly doubtful if the grid access fees for California Solar customers will sail past the regulatory authorities in the present climate, but SIRC is not just about installing Solar panels on rooftops anymore.
https://www.marketwatch.com/press-release/solar-roofing-and-ev-stations-are-significant-to-solar-integrated-roofing-corps-otc-pink-sirc-national-future-but-solar-powered-and-all-electric-tractors-replacing-diesel-farming-is-an-international-opportunity-2021-03-01
"Solar, Roofing And EV Stations Are Significant To Solar Integrated Roofing Corp.'s (OTC PINK: SIRC) National Future, But Solar-Powered And All-Electric Tractors Replacing Diesel Farming Is An International Opportunity."
Seems we got our first institutional investor !!
https://fintel.io/so/us/sirc
Would share price falling below 1$ affect the uplisting?
If that is the case why not lock our shares from being used for shorting by setting a sell order with high limit? I hear many people say that this company will do well in the long run and that is correct, but these kind of price swings discourage lot of new investors and kill the momentum.