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That is good ... why is there no mention of ERFB?
I'm sorry but that seems like BS... this company had been out of business for a long time so filings should be fairly simple to do. Plus the word has been that they are finished. If there is a reason they are not being submitted shareholders have a right to know.
We sure do... what is the hold up? How about PR with the plan about filings.
Cheeky, what happened to the DD pinned post you had up here?
I kind of get the first part... the second part I am not sure about. In other words idiot will prove out one way or the other. Selfish I am not sure about. People sell stock because the want to have cash in hand... people buy stock to sell at some point... so aren't all selfish to some degree. I don't know. I kind of feel like an idiot with my cost bases where it is and rushing to buy this way back when. Hopefully we see a real turn soon!!
2.3 M shares at .0048... who does this?
Very good day. Just meant from last week and no discussions here today.
Are we that beat up?
Right!! So a good friend of mine who is all in on ERFB came to me months and months ago and encouraged a position here. Pounded the table for $1 per share with in 12 months. That was 8.5 months ago... the 700 million plus shares out I always felt was a problem. So now I have adjusted and would be thrilled with .10. Thoughts??
You called the sell off
I am sure
I had a buy in at .0025 sitting there for the longest time and it dipped down and then back up. So I finally adjusted to .0035 right before the dump. Never fails.
.36 wow
Ok thanks for the reply. Standing by.
So the new CEO has been there for almost 2 months and the answer is we can't find a website guy and we lost the keys? Please get it together. There are a lot of us that have bought into this story.
Next time anyone speaks to the company ask them what the plan and timeline is to update the website. Very hard to understand why a simple things like this is not done. One of the first DD action steps is check the website.
I get that and I have read the all the PRs several times. The point I was making is that I have read no where what cancelling means and if shares will need to bought to cover. If that were a fact then I would imagine it would be stated somewhere in a filing or a PR.
Petrobot... where does it say that there are 700 million shares that must be bought to cover? Again I am long and had hoped for a major hit here but if that is a fact, then the market would know this wouldn't it? Plus if you were short a few million and were possible going to be forced to buy back stock wouldn't you do it now? I am not buying this theory right now as a fact. PRs don't seem to do much for us... sales and booked revenue is what is needed. It was my understanding that there were other private companies to be bought but that the ERF stock is needed to buy them at much better pricing.
Looks to me that we are trapped here until reporting is done and the converts are figured out. If that is based on a legal proceedings could we be watching paint dry? How do we see Accordant's second quarter results.
The 6-25M is "new" revenue from Accordant that was not there durning the implosion. My comment was directed at you statement that the stock fell from 12 to micro for not reason. There was a reason, failed business model based on the oil and gas industry collapse. It was not on purpose it just happened. I agree with the convertible issue and it has been a headwind to the plan to use the shell and acquire companies like accordant and build a real business. The point is the historic high to the low makes perfect sense. $0 revenue.
Still long here
ERFB was focused on wireless solutions for the oil and gas business. That industry collapsed and their revenue Felton nearly nothing. There was also a massive dilution to the stock. I wouldn't say it fell for no reason. Form what I understand this is really not a turn around but a broken companies shell that is being used to create a new company.
And back down we go.
Understood thanks for the clarity
I agree. If shares were illegally issued and sold who ever bought has to be protected. The seller / issuer I would think would have to be held responsible. So maybe a share repurchase type of thing only the company does not pay the guilty party does.
Good question but the shorts by definition do not have shares or they would. It be short. Carefull asking questions here you might get slammed. There are a lot of unanswered questions for sure.
Show me where the outstanding shares will be 123M. Not your calculation but in writing as per a filing.
What does that even mean? That is $4500 worth of stock. The idea of this going to $.50-$1 per share means it become a $350 to $700M company. That will take place when $300K-$1M worth of stock is trading per day not $10K
I don't think anyone understands the PR and most if not all on the board are long so no reason to be like that.
Oh and we are down 12% on 121K shares.
JDoggs well stated and though out. Thank you.
But who do they take them from to put them back?
Say for simple example 400M shares are now in the hands of 200 investors each with 2M shares. How does cancelling those shares effect those share holders? This is different that a short squeeze. Cancel is cancel right?
The good news is that deal was for restricted common stock. I still do not understand how you cancel 700 million shares of stock and have someone not holding the bag. I have talked to some people about this and they discuss covering short sales but that is different than cancelling shares, right?
I agree to a point, the problem again is about ownership. If they sold short or sold shares that should not have been issued someone now owns those correct? So how can you cancel shares that you or I may have bought from them?
I have read it a few times as well. The problem seems to be on the issue side. So if any investor bought shares that were wrongfully issued and those shares are cancelled isn't the investor at risk?
Shares being Cancelled as I read online is not always good. Someone owns the shares either the company or the investors right. So who's shares are cancelled? Shorting is something else.
No Open? Big spread look like interest in this is dead until filings and legal action on convertibles and execution of the plan.
I realize that. The point is documentation beats conversation and the conversation has been 25M pipeline and the documentation so far is $22K .088% of the 2017 goal. Still Hopeful
I hope that there is way more than this... $22k is a long way from a $25M pipeline
Deleted the reply that broke down the Book Value based on $0.48?
Debate and discussion amount long holders not encouraged?
The Bid Ask has a 24% spread... This thing is really something. The MM push it all of the place.
Book value of (.48) is a negative number. Just as EDIDTA is showing Neg. Not sure these numbers meany anything now until real report is files. Again so many share out seem to be a headwind. I am long a bunch so am hopeful but sales will tell the story.