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Well, in any case, I still feel pretty comfortable here. I have like 3m shares but will probably add to my position if I can free up some cash
You think the large share dump was from the IR Firm selling their shares?
Your reverse merger theory sounds more plausible by the day. Although I think this company is a potential buyout target from an outside company as well. Even with the debt they have, the depressed market cap could lure some buyers.
AMNL should hire some of the Twitter pumpers for their PR department...
I'm only half joking..
I wonder if this pump can be sustained. obvioulsy this company is worth alot more than it's current market cap but just feel like we need some news to solidify upward momentum
Still pathetically low value even after the update. I guess to move up in this tough market environment, companies(especially penny stocks) need to have concrete results rather than future plans.
There's the update we've been waiting for. Looks like they're on the right track, but I've been fooled before so they need to execute now. Especially with the recent influx of cash. No more excuses
I was hoping the new board would make some changes to get this stock moving, but so far it's been the same ol same ol. You're right though, it's just strange they don't seem to care at all about shareholders or the stock price and it's hard not to assume nefarious intent. Definitely a headscratcher..
What the hell happened to this company? I have a small position and just noticed it's down a ton.
With the iron oxide sale, the grant from the DoE, and new board members, the company shouldn't need to dilute for awhile. The problem, as usual, is they aren't communicating. This stock could be an easy 10x bagger from these levels if they communicated more
10q out.
Amazing that a company with $19k in cash at the end of the quarter can't even PR a $1.1m grant. Let's hope these BMI guys can turn this thing around
Let's hope it comes soon. Maybe when they release quarterly results(late of course)
I wonder when the new board members from BMI are supposed to start. Maybe they can yell at the CEO to actually do his job and communicate with shareholders.
Stock price continues to meltdown even after some pretty good news. Market cap is about to go below $1m. Talk about a lotto stock
Yeah, I agree with this. The thing is, communication is pretty much free but the company refuses to do it. Still pisses me off that the CEO wouldn't answer the detailed question you had at the last shareholder meeting. He sounded annoyed that he even had to answer questions. Still.. we should ask him AGAIN why a $2m grant isn't PR'd on a company with a $1m market cap. I really hope your reverse takeover theory turns out to be true, because current management moves at a snail's pace and doesn't tell us shit
Interesting swing the past couple of days. AMNL put out a tweet from the wsj about Nevada investing in battery tech, but AMNL is not mentioned. Probably just a fluff tweet but something to keep an eye on.
And I can't DM either but other pick I was talking about is PQEFF. Alot going on with this one.. but basic points: tender offer is in play with a deadline of Sep. 9th. Buyer has been waiting on CFIUS clearance before closing the deal. But some negatives are management sucks and people think their incompetence will ruin the deal, the true buyer is mysterious, and the offer keeps getting delayed, among other things.
Still worth the risk I think, and if you're invested in AMNL clearly you don't mind taking some risks.
That's.. actually not a bad theory. I'm pretty sure BMI is a large noteholder so they definitely could be pursuing this startegy. Market cap of AMNL is barely above $1m so really the debt is it's main problem. I've seen penny stocks with zero products, way worse share structure, and no revenues with 10x the market cap. The potential here is huge
Yeah, I will be adding a good chunk in September if this other stock I'm in plays out like I expect.
Also, I wonder how much the iron oxide deposits are really worth, just a guess but I think the buyer is getting a great deal here.
Ah I see, thanks. Now let's see if they can actually make some progress on this battery tech.
So with the $1.15m from the grant and the cash from the iron oxide sale they should be able to avoid dilution for awhile. Does anyone know how much they're going to receive from the iron oxide sale? I don't remember seeing that in the PR.
I knew the debt elimination seemed too good to be true. Oh well, a $1.9m injection is still good for a company with a market cap of $1m.
Any idea what this part means though?
(h) Upon the closing of the Four Agreements, AMI will pay a total of $375,000 to the holders of the majority of the outstanding principal of the Series A Notes in exchange for the Series A Waiver and a total of $375,000 to the holders of the majority of the outstanding principal of the Series 2023 Notes in exchange for the Series 2023 Waiver.
Is it just a payment to the noteholders or are they amending some terms of the debt?
Today's news seems pretty good, but I don't see how they are eliminating their debt. Or did I miss that?
Still think it's worth adding some here
Is bankruptcy considered a "deal" now?
But how could they possibly satisfy $43m worth of notes(like you said, without massive dilution)? I guess they made this agreement with an plan in place, but I'm skeptical. Maybe they give up more mining rights or patents. No clue..
Would be nice to have those notes off the books though, even if they stock price suffers even more in the short term.
Anyone read today's news? I think it can be good.. but honestly I don't know how they would achieve this part:
"The closing of the Asset Sale Agreements is conditioned upon, among other things, AMI entering into agreements with the majority holders of its Series A Notes and Series 2023 Notes that result in the elimination of the outstanding balances of both series of notes. The combined principal balance of both series of notes was $48,117,033 as of May 31, 2022."
Any ideas?
All the way down to the 50s now. Would be buying more now but need the cash for some vacations
Back down to the .006s-.007s. Can't say I'm surprised but could be a buying opportunity
I've seen penny stocks with 10x the market cap of AMNL with no real products, assets, or revenues. And way worse share structures. If this company can continue with the business updates, I'm sure it will be a good year for them. If something major happens with the battery tech or other products, this thing could really skyrocket.
That's what I was thinking. The way I see it.. either this company goes to zero or pays off huge, like 50x. I'm willing to take that risk(especially at a ~$2m market cap), although it has been pretty frustrating the past year or two
When the stock was .27, do you happen to remember with the share count was? Obviously they've diluted since then but overall I don't think it's horrible. especially compared to some other OTC stocks.
Another positive tweet today. I wonder what kind of revenues can be realized from this
The company needs an actual company update. These articles aren't going to cut it.
seems almost impossibly cheap at these prices. might have to add here
What ever happened with that Korean that was buying halloysite from AMNL? It would be nice if they would update us on things like this, even if it's bad news. A once a year vague business update is unacceptable.
At this point I'm just hoping some company buys them up for their tech and the mine.
Interesting take.. I've been in this stock for years and haven't sold any shares yet but my avg cost basis is like .01 so I'm not doing so bad, but I definitely could've taken advantage on the huge upswings this stock occasionally has.
Just hate how horrible this company is at communication.
Have you found anything new on the company? They don't believe in news updates so I was wondering if you found anything recently.
What was your full question? I was curious about that as well. He's pretending he didn't have time to read the whole thing. Really? We only get to talk to you once a year and you can't bother to read a full question?!
https://www.petroteqoffer.com/
It's a hostile takeover bid so no guarantee it goes through. The way things are looking now, however, I think there is a good chance that the bid is successful. The tech is intriguing either way.
Reddit actually has a decent subreddit with further details if you're interested in doing more DD.
reddit.com/r/Petroteq/
This company has really dropped the ball after the big news they had in the first half of the year. Huge disappointment but I'm still holding on.
Just attended the virtual meeting. Not too impressed.. Company claimed that they would issue PRs for "material" events and then go on to say a $200k grant from the DoE for battery tech isn't material. Really? A $200k grant for a $2m market cap company isn't material? For the main tech that investors are interest in? This company has huge potential but absolute dogshit communication.
Still.. maybe I'll add more if this PQEFF buyout goes through.