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Good news for plaintiffs! I think I would settle quickly, too, while there was still something left on the balance sheet.
But maybe this helps to clear the way for the merger and/or survival so the thus combined executives can continue to be worthy of their salaries.
Wow! The chart on this page shows BZWR going from $0.000001 to $0.000400 yesterday. That's a rise of 400x. $1,000 would become $400,000. Too bad the Experts didn't let me buy any. It's a shame they allowed a trade of $0.000001 or $0.000102 to transact the other day. It is like stealing money from someone, although I admit the dollar amount was very small.
Ok. I used the iHub quote on this board. They show 5 zeros after the decimal point 0.000001 as the close here on your board. Your 0.000102 is a hundred times better. I will assume iHub got it wrong.
That makes the market cap around $500. Price was down 99.83% today, is the percentage I saw, too.
Too bad for that seller of 10,000 shares when no buyers are allowed. I would have paid him at least 10 cents for his 10,000 shares, but he only got 1 cent. I might have even paid a whole dollar. In fact, if an "expert" wants to contact me, the offer still stands.
On second thought, you may have been referring to IPSI shareholders, while I was focusing on BZWR shareholders. I don't know what IPSI shareholders may think about the merger, but they may indeed want the latest audited BZWR figures to make a decision. Perhaps, with the new auditors, BZWR can get the year closed by around Thanksgiving. You had a good point that I didn't see at first.
9 cents, but little volume so far. Perhaps the future dilution for the BZWR merger is priced in now. I can't see how a lengthy merger process will help things. Pessimism may grow for a while longer. After that, we may get news about how the newly combined companies are progressing.
Shareholder approval? I'm a shareholder and I would approve without seeing more figures. I suspect Rhett and his friends would approve without more audited results. This is because IPSI is probably the only lifeline that they have.
Maybe BZWR must get current on filings for some reason, but I doubt it is for shareholder approval. The shareholders aren't mutual funds or institutions.
You propose a timeline that will never end. By the time BZWR reports, another quarter will have ended and then the cycle repeats.
All BZWR needs is votes, and they can have mine.
Another annual audit? August 31 was.BZWR's year-end. Do you think IPSI will insist that BZWR will go through three more quarterly filings including an audit of fiscal '24? Many mergers go faster than this.
I don't see the point of BZWR continuing to file unless the merger fails and BZWR can continue to operate.
You say they have to file, but why? Does IPSI require it?
IPSI has traded lower lately, possibly anticipating the future dilution from the BZWR merger. If it is not doing that yet, expect the share price to get below ten cents, in my opinion.
IPSI plans to give BZWR shareholders 45% of IPSI’s outstanding shares. I assume IPSI will not do a buyback to get shares, so they would have to issue new shares. If that is true, for each 55 IPSI shares now outstanding, they would need 45 new shares to convert BZWR shares. So, that’s about an 82% growth in outstanding shares. If an IPSI share is worth $0.20, that would cut it back to around $0.12 or so.
Selling has brought BZWR's merger partner IPSI down to about 52-week-low levels this week. How low will it go?
Dilution may occur from BZWR merger so RS may be in the near future. Maybe 1 for 100? That might get it to $5 a share after the merger.
Experts are moving BZWR up a little. Maybe they will soon start guessing how many IPSI shares BZWR will convert to.
A $3.32 trade took BZWR down 14% to $0.0006. Maybe the Experts protect new investors from hurting themselves, but they sure do a job on existing shareholders. They can have no benefit coming from good news or announcements, and just have to wait it out. They can sell, but the price will be low because most are ineligible to buy. I would buy a million shares for $600 in the present scenario, but can't.
The 8-k indicates that the merger is on track and did not fail between March and the present time. The BZWR and/or IPSI creditors have had time to blow this up if it was in their best interests, but of course they still could. What is the delay, then? The auditors' dumping of BZWR must be part of it, I would guess. I hope BZWR gets the notices out to shareholders soon and completes the transaction.
Will the Experts push the share price up to around the March $0.004 you are talking about?
Yes, no more BZWR stock after closing.
The July Agreement with IPSI could say that BZWR must file, but I don’t know why it would. Since they don’t intend to trade as BZWR anymore, why take the time and expense?
Your math is correct. But, remember, the Expert Market may be way low since they are only buying shares and not selling because the market is not free and open. The value on closing day could be much higher depending on many things.
Could the shares go back to pre-Expert Market ranges? Maybe hit one cent or more? Yes. But a lot depends on the load created by the preferred shares to be converted to common.
Nothing to do, the shares should convert automatically in your account, in my opinion.
If the Experts have the price right .0006 in consideration of the anticipated merger, then 1,000 BZWR is now worth 60 cents. So, you might be awarded 2 or 3 IPSI shares for each 1,000 BZWR shares that you have.
Now, it is possible that these Experts have vastly underpriced these shares since realistically, there are NO BUYERS ALLOWED unless you are a big money guy who would never consider plays like this, (or a Canadian, ha ha ha).
If so, who knows, maybe you would get more than 10 shares of IPSI for each 1,000 shares of BZWR.
How will it play out? I guess we should expect a notice to the stockholders for a vote soon. Most due diligence should be done by now, between the February Letter of Intent and the July Agreement. But the audit is still due and are the creditors all lined up?
Big questions remain. Will IPSI issue new shares to cover the 45 % allowed to BZWR. If so, that should cut IPSI’s share price in half.
And, how many common shares will BZWR have outstanding at closing? Will each BZWR preferred share get just one BZWR common share? Or will they get 10 or 100 for each share? We will see how piggy things get. Pretty soon, I suppose.
But, Rhett deserves credit for surviving and at least taking the common share holders along with him. Many times they get dumped in a restructure. And, who knows, the combined new outfit may prosper and grow. The payments software release could be the next big thing.
BZWR will never leave the Expert Market and trade freely again. Shareholders will simply receive IPSI shares. I hope the deal closes quickly. They should have done most of their due diligence by now since this proposal is fairly old. Maybe they are near ready to go or maybe they are pressuring their creditors into what is probably their last shot to recover on their loans.
Any thoughts about today’s big BZWR news? We have all been fed up with all of the failures, but what do you think comes next? Has IPSI picked a good fit, or poisoned itself?
The merger with BZWR didn’t tank the share price yet. IPSI may have made a good move if they can handle the debt that remains after closing. BZWR management are experts at structuring debt— just my opinion.
Rhett will have to tell us. I don’t think how much the common stock that preferred shares will convert to has ever been announced.
Don’t get your hopes up but at least the result won’t be zero. Just something near zero.
Someone do the calculation: 1,000 shares of BZWR common will get you how many shares of IPSI?
The Experts moved BZWR to .0006. But that may not be where the value would end up.
Volume is on the way up. Buyers are starting to appear.
Rhett is not saying much this year. Why? Because stock price can't rise because NO ONE CAN BUY BZWR from the Experts. There is no need to talk up the shares because they are not available*. But, the new auditors came aboard on June 12 and maybe they will find that the company is solvent.
*Maybe mutual fund managers or brokers or even Canadians can purchase, but they won't
Is something about to happen? Share price is rising, but volume is low.
Market cap is $100k at the $0.0002 level. I wouldn't be surprised if the experts don't take 90% off again like they did in May, and go to $0.00002, since no one can buy. $10k market cap seems about right. I own about a half of a percent of the company, so that's not much money anymore.
No financial data after August, 2023. I don't think even any sales volumes have been touted since their year closed then. Completely dark for almost a year, yet no news that the creditors are closing in. (At least, no filing to SEC of a significant company event has been made regarding financing.)
New audit firm identification:
Astra Audit & Advisory, LLC (formerly, Coastal Accounting & Consulting, LLC)
New name is "Astra", but their website doesn't mention it. Still says "Coastal".
Auditors are again a Florida company, a couple of thousand miles away from BZWR's "office" in either Scottsdale, AZ or Las Vegas, NV, not sure which.
Evidently, BZWR still has something to audit
Since BZWR stock can only sell and can't be bought except by qualified entities, the price may as well be zero. It is nice that Rhett even cares to update us since the common stock may not be any good to the company for a long time.
Chapter 7 and goodbye is my guess. I doubt they have enough to reorganize under Chapter 11. But, you never know. Maybe the creditors will be stopped from picking it clean, but why should they be stopped?
BZWR has a June blog post. I guess that means that they are still functioning. It's at https://www.businesswarrior.com/blog#recent.
Added another decimal place today: .0002
Ha Ha Thanks. But watch out for relevancy. You probably should work the letters BZWR into your post or it may not fit the Board Rules. I know I am waiting for their next report on how they managed to pry more money out of investors to fuel their expenses for whatever new licensing revenues they may have managed to grow.
10,000 BZWR shares used to be relevant. Now they are not. Thanks for taking the time to respond. Without you, this board would barely exist. I especially enjoy how you put up tweets and other news so quickly!
No answer from me. Your guesses are better than mine. Why an MM would need to move $10 worth of any company's stock is still a mystery to me. But maybe, what used to be worth $500 is now worth $10 and somebody wants to close it. As you said-- a tax loss.
True. But why would MM's make just a $10 trade? What for?
Did they just want to change the last reported trade to $0.001? If so, why do that?
Some "expert" or "institution" (or Canadian) traded $10 worth of BZWR today so far. Is it just to put BZWR on a ticker somewhere? Why have a trade that small?
Reading a little more about the Expert Market, U. S. retail investors cannot participate. It is only open to qualifying sophisticated expert investors and institutions. Which of these would be interested in BZWR? About none, I think. So that means a hidden bid/ask existing there at .001/.002, which are the recent activity, is a bogus spread. Market maker can just insert any numbers they want. Demand is killed.