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Share reduction per CEO done previously and due updated on OTC site yesterday. It has not been updated, no PR released, nor is there a tweet with reason/excuse. What is the answer to this?
Accountability and verification maybe?
0830 2/21/2019 - beyond 48 hours from the tweet of CEO. OTC site still showing Oct 2018 share structure. Either he should just stop with timelines and predicitions, or he is entirely full of crap. This far along, I am siding with the latter.
On2Addict, DewmBoom, Mary777 - hold your CEO to the fire and demand shareholder answers. No more of this wait, and you will be surprised, and it is all coming. Time is now, will he be accountable for false and misleading suggestions of success of this company?
Any bets on when (if ever) that will change to lower numbers?
It has officially been 48 hours.
Seems time for him to answer with another excuse.
https://www.otcmarkets.com/stock/ONCI/security
So, he's put a hard limit on the line. If no Share reduction Thursday morning, what then?
It may not show the CEO is misleading investors outright, but it certainly continues detracting from the validity on any tweet he posts.
If there wasn't such a history of missed deadlines and excuses for events not occurring, I wouldn't be expecting Thursday morning to come and go without OTC site update of share reduction. Unfortunately, I do think there will be no update.
not likely
No, I am seeing a bait and switch game. BZRTH or whatever, a sister company...so that's where the revs have been hiding...how many quarters of no further recognized revenues until we learn of the third step-sister company to the previously acquired entities being the one where the real revenue recognition will begin.
First acquisition should have been rev generator plain and simple.
Agreed
They first said revs would be there, then they weren't. Now they say revs will be realized upon closing of new deal with different entity. Forgive me if I expect too much, but there are a few too many steps in this narrative.
They said the revs would be recognized, but until there is verification that SGMD is receiving revs through BizRight Deal, the evidence of past performance holds a high level of necessity for concrete data to validate claims.
As much as that may be true, there should be a level of accountability for a company to post 30-70 million dollar revenue guidance and fail to provide its shareholders with any evidence of these revenues coming to fruition 3, nearly 4 quarters later.
Accounting mistakes, paperwork, deal structure...whatever the lame excuse may be; for a company to make these claims and have what seems to be no real change in revenues for nearly a year is just unacceptable.
That isn't how it usually plays out for this company.
Proof?
SOS registry?
Website for a large equiptment company to inquire for insurance coverage?
Anything?????
You have nothing but hope. I really would love for you to show me I am incorrect. It just doesn't seem likely.
That is a very serious concern. I am glad he has put protections in place to keep this from occurring. The last thing we need is for NECA to begin making positive business and investing decisions.
Looks like BoA pulled out of talks with NECA
That looks written by a second grader. Perhaps a proofread before posting would have been helpful.
The company keeps talking about what they will do, but financials thus far this year haven't shown anything near the projections given early 2018. For that reason, investor confidence isn't growing - or even really holding steady.
If the catalysts forecasted come to fruition and revenue is realized, then the growth of company and stock price will follow. But until then, it is just a lot of rumor and prediction. Current price is likely fair market value of current performance.
" i am sure that their will be a PR in the next few business days. "
It is good to have confidence, it is not good to have a choose your own adventure narrative. 'next few business days' is an unacceptable option. It was stated PR would be released Friday or probably sooner. Probably sooner was always probably NOT sooner, so it isn't surprising that it has already passed. Today however is the Friday in question. So a release in the next few business days is unacceptable. Today is the only option for the CEO to maintain integrity.
No, not a bash of the stock, just an observation based on general market performance patterns in this tier of trading, and the track record of the company with a great plan and poor management.
It is an objective statement and my strategy is just to make wise decisions. If I honestly though my opinions on this board could move the stock, I certainly don't believe I would be a wise investor.
Also to note, I am perfectly fine with having an incorrect prediction on today's performance.
I'll take it, but I don't mind to load a little lower today in the meantime.
There are about 1 billion shares left to sell. Not all yet authorized, but with new LOI,it seems they could be soon.
Sure it is positive news, but market generally responds with a sell on news philosophy, regardless of perceived value of information
.
I am beginning to think the cup is only an illusion.
Down 12% on news, my prediction.
If at all, it will be late Friday, even maybe after close.
"Probably earlier" means definitely not earlier per previous experience with this CEO
Another day with no release of audited financials... The true AMFE shareholder story.
There it is: two announcements of new acquisitions in less than a month - best part is that this one will provide revenues (which has been the statement made of BizRight initially) - my pondering of a few days ago is now likely confirmed. The recent closing of acquisitions and restructuring of accounting practices will in my opinion be the listed reason for this quarter's delay of financial report.
Any takers?
@ GetRich902902 - sorry, I do not have private reply privilege. Release date should be no later than Feb 15; Quarter ended Dec 31, 2018.
Nearing time for the next quarter financial release.
Would anyone like to wager which excuse will be used for this quarter's delay in release of financial report?
That seems more fun to me than waiting for release, wading through the excuses, and when they are released hoping for an explanation why that seventy million dollar revenue projection just doesn't seem to be on track.
Won't be sooner, more probably won't be at all.
Thoughts on news:
No mention of total guidance number, which should now be $75-95M given previous forecasts.
No mention of collected revenue from previous acquisitions, in fact neither are mentioned as closed transactions.
It did mention returm from BizRight MMA, but latest fins are reflecting nothing comparable to previous guidance.
A company doing as the cumulation of releases stated should be showing a true growth pattern in financial statement releases and in share price.
Until we begin to see the numbers back up the released statements, I don't see much upward movement.
Holding and staying here for now, but very suspect of released information.
You may be right. They will probably get the audit completed and financials posted. My prediction is just in time to be late for the next filing deadline. At which point there will be a whole new crop of similar reasons/excuses for further delays.
You stated "Rapid growth, low dilution, massive expansion potential, upcoming dividend/spinoff, red hot sectors, thousands of reviews all over Google verifying the company/potential, their customers are the largest retailers in the world, multiple acquisitions are coming, wildcard MJ sub with massive potential, already at 8 figures revenue over the past 3 quarters(in just Canada) which is only 10% the size of the USA(current expansion goal), half-dozen HIGH MARGIN self published titles are coming and some titles in this market are doing $50+ million in the first year, several new snakes locations are coming which should each make $3-4,000,000 per year... I could go on and on and back this all up with substance "
I want to see everything you've posted come to fruition. I truly do.
But, there are some questions on your highlights:
Dividend - coming on 2 years since announcement, any news?
MJ sub wildcard - any news?
Largest retailers in the world - Where are the numbers to back that up? (I remember six figures per title, but I don't remember the news about distribution and sales of these titles)
Self-published titles - on what US shelves can these be found?
I do want to believe all these things will come through, but the continued delay is decreasing the confidence level daily. This is directly reflected in the current 1 year slope of the share price.
Could be a desire to maintain access to opiates...just sayin'
Any other corporation doing standard business would be responsible to post EOY fins by 90 days after closing, acquisitions or not.
There is simply no excuse. Either calculated delay by AMFE or incompetence by auditors. Any other explanation is an excuse plain and simple.
It isn't that they wont get done, but that previous reports released 3 months after close of FY2018, now over four months from release of 2016-7 - which is 1 month beyond a typical 90 day reporting period - leads me to believe RBSM either is incompetent or has negated urgency of completion.
It is just a bunch of paper pushing and number crunching. Seriously, it is not saving lives or putting a man on Mars. Completing the audit is the failure of under-educated office jockeys that are seriously proving underqualified for this task.
If Roger doesn't reduce payment to RBSM and choose another auditing firm moving forward, I will be sorely disappointed in his negotiating ability and future compliance strategies.
I suggest a 25% reduction in payment for every week it is not posted moving forward.
Every OTC "wants to uplist"
The question is, can they?
My point is that the auditors need urgency and accountability. That is all. They are simply not executing to excellency.
Your arguments have difficulty holding water.
Details to comb through have been combed in previous two years of audit.
Any audited company, regardless of tier, has ninety days to file. Uplifting is a goal and hurdle, but no crutch for auditors to use for missing deadlines.
That's bottom line. The auditors are failing to execute.
Past 18 months of watching company performance. I am only reflecting what I have observed. The original question is when will 10K be released. On that note, when was the last release, and how late on reporting is the company currently?
If it isn't a relatively true scenario, provide a valid explanation why unaudited numbers have not been released. Audit, uplift, blah, blah, yeah, yeah...just release what you got - good, bad, or otherwise.