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And if it's not the date, they'll find something else. There's already a lot of misinformation posted here as "facts". Every trader/investor should do research before buying and selling.
They are just going based on historical events. They consistently post quarterlies late, by about 2-3 weeks. The deadline is the end of March, they will likely get a yield sign, and then the annual report will be posted.
It sounds like they've already got it ready, they just need to post it (as seen in WY SOS.)
I was charged $38 but wasn't credited back. Are you a pro subscriber over at E-Trade? Trying to figure out why some are credited and some aren't.
That's a relief. If they revealed <$250k revs in all of 2017, that'd be pretty disappointing.
Thanks. This is going to need a PR to run then.
Anyone know what the fee means between $50 and $0.0002 per dollar per million? Because it is $50.
Did that company do anything behind the scenes? JBZY has been posting quarterlies and staying current unlike most other companies. That's the key difference.
They diluted a few million last year for $13k. You can look at it in their financials.
I am really confused that self-proclaimed sideliners have such strong opinions on the stock.
Fact is, not enough people have access to their shares so I don't think PPS is really that important at the moment until majority get their shares.
Might be a good time for you to buy!
The valuation doesn't equal $3B market cap until Wang increases the O/S. I am sure he will maintain voting majority by holding the preferreds and issuing new shares down the road for business deals and raising capital.
It took less than 48 hours for E-Trade to have access to my DOLV - JBZY shares. Not sure how much more complex a R/S is though.
200 day Moving Average
My E-Trade still shows my JBZY is 100% loss. No JBZYD in sight, yet.
Annual report is due soon. People are buying on faith.
We will finally find out what assets/debt was merged in last November.
We're almost up 100% from yesterday's $2.30 close.
Yes. A very large gap between big and ask right now. Still, excited to see it at almost $4.00.
I am wondering what'll happen when majority of owners have access to buy or sell though. Right now there's not a lot of available shares.
It's a $50 fee. There was no reason to get worked up on that alone. A lot of people trade on emotion and that's what happened.
I'm curious to see why they changed from WY to New York though.
None of the big boys will come in until they know what they're investing in. JBZY has not shared consolidated financials yet.
Obligatory translation request?
Isn't it odd we have a market cap of $8M when there was an additional $23M capital paid-in during the previous quarter? It just seems strange that the company would add $23M capital for a scam. Still no dilution in all of Feb.
The share price right now is extremely under-priced. I'm not going to boast that the price should be $1+, pre-R/S but I do think we'll have a bounce soon that's in the mid 0.01s-0.02s. Until this, this will continue to sink until the next quarterly (which will decide if this stock deserves anymore traders).
I mean I'm a long but I could afford 6x more shares now if I waited until now to purchase.
Zzzzz......PPS is very stressful to watch lately. Not selling though, probably just going to not watch it daily anymore.
Great find guys! This concludes JBZY is officially part of Jinbo.
But no one knows the true purpose behind them diluting. Could be for business but they haven't stated why they added shares to the O/S.
Thus is why I'm still holding onto my several hundred-thousand shares. I am only stating that my confidence in this investment has went down since the R/S news. Either way, it looks like PPS is holding at current trading price in case we have a decent financial sheet but if the financial sheet doesn't meet expectations the PPS could really plummet further.
Personally, I believe this is a start-up company with little funding from JinBo and is going to rely on capital raised through JBZY for its business expansion, which includes charging stations, producing EVs, and spreading to new cities.
The only thing that has me still here is mainly the .gov links that specifically reference our company. Those are pretty hard to fake.
I'm guessing financials.
I'm pretty confused on what this company is doing. They could have pumped this to no end, but haven't. They did dilute roughly 147M shares which if averaged at about 0.05/share would be ~$9M USD. That's probably more than enough cost to cover the takeover of the shell. Somewhere along the line, they also increased A/S to 2B from 1B (as seen in the DOLV 2016 company profile I linked a few posts back.)
The A/S bundled with the R/S of commons is leading me to think this will be heavily diluted soon and common ownership's stake in the company is about to plummet. Could this be related to the 54M shares in court? Possibly trying to make them useless, no idea.
Either way, if the company was truly planning on heading to Nasdaq, I believe we would have seen consolidated financials by now as well as some sort of PR stating their business plan. Right now they have not communicated with investors at all (aside from RO, who is now redirecting questions to an email that does not respond). Then they decide to behind the scenes begin processing a 100/1 R/S with no mention to shareholders what they're planning.
Either way, R/S is bad due to the fact that post-split, your shares will inevitably be worth less. I see this R/S as an opportunity for them to dilute more commons to the public to raise more funds, thus effectively reducing the current value per share by up to 99%.
I want to remain bullish here, but after analyzing that they diluted 147M shares in 2017, I'm beginning to question their motives. Even post-split, the current PPS is not going to be high enough for Nasdaq requirements (if that is truly their reasoning behind the R/S).
They've diluted a few million shares. Not a lot, but they have diluted. It went from around ~700M O/S (Dec 2016) to ~840M O/S now.
A scam would have pumped this and then diluted as much as possible. They diluted some at such low prices, it's confusing.
They're required to post a PR on the share structure change if it goes through. I'm curious to see what they say their reasoning is behind doing so.
You are correct, A77. It looks like we are on step 4.
1. Shareholders vote to reverse split the stock in order to increase share price in the hopes of attracting institutional investors who might otherwise shy away from the Company based on its sub penny stock price. SEC filers will use the Form 14 at this stage.
2. Board of Directors approves a reverse stock split and authorizes management to file the appropriate documents with the State and FINRA.
CEO files a Certificate of Change/Amendment (in Nevada, for instance) which details the amount of the reverse split and the proposed effective date, which is usually at least ten days hence.
3. Issuer counsel files for a new CUSIP.
4. Issuer counsel files for a new Corporate Action with FINRA and provides all of the supporting shareholder and Board documentation to show approval.
5. Company announces the proposed reverse split in a news release, 8-K, etc.
6. FINRA reviews and approves the reverse stock split if all of the necessary corporate formalities have been followed.
7. DTC requires a legal opinion from outside securities counsel on the new, post-reverse-split shares.
That would be insane. What makes you think this will close green?
Because you are assuming he will immediately convert his preferreds. That is possible, but he wants to have complete vote of the public company. I am not liking that the A/S is still at 2B but this allows for the company to raise capital, when needed in the future.
We'll see how this plays out. If it gets its NASDAQ listing, the PPS might go up enough for a good profit before the dilution occurs. In that scenario, it's worth buying right now. But given everything we know about the company (officially), I am not very confident in my ownership of JBZY shares. That said, I am already negative so much that I'd rather see how this plays out and chance it to break even or perhaps make a little.
I would prefer it share some information with current investors via PRs or another shareholder letter.
Wang's preferred shares are for ownership vote. He could convert them to commons, but this is likely not a get rich quick scheme.
Commons will be worth 100x more, but the O/S will also be reduced by 100x which would mean the market cap stays the same.
Until dilution occurs, the commons would stay the same price. If what you say is true and is typically normal, then what's the point of anyone investing in pennies?
Does Richard's book cover screwing over investors like this? Not to mention they've diluted over 100M shares over the last year. Surely they can't just throw us under the bus and keep going as if nothing happened.
They're making their stock warrants worthless for their own employees? Please tell me how that works. They had stock options for their employees to pick up .10/15¢ shares. You're saying that those shares will become worthless to all of the employees that took advantage of them???
What was the point of the stock warrants. What was the point of the shareholder letter? There's a lot of things that counter your points.
Reverse Split Details here.
https://wyobiz.wy.gov/business/FilingDetails.aspx?eFNum=217161243108068011203050228075228024036162237117
Scroll down to history and select 2/15/18 document. This confirms 100-1 R/S with A/S staying at 2B.
FINRA must approve this before it takes effect! No ETA!
It would however make sense for the company to issue a PR regarding the change in share structure. They announced the ticker change in a PR so it would not be out of the question that they do the same here.
Mods can sticky this if they want.
Citibank did a reverse split, and now it is double the value per share since it did that.
That said, Reverse Splits are generally not good, but doesn't spell impending doom for a stock.
It's back above 0.02. I went ahead and added another 60k shares at .016 to average down. Sucks but it looks like this morning was perfect to buy the fear.