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Seems that way! Jeff said Dickson was actually blindsided by it, which I believe. I don't think Jeff has any reason to lie, even as he's going to be getting eviscerated online going forward, but he said that party with those shares "didn't want to play in the sandbox." Then we saw the repercussions of them not getting what they wanted out of the deal the past 2 days and Jeff/PickleJar just said forget it.
Thanks, man. Shit happens. I've been in OTC world for over 10 years, so I know what I'm getting into. Thankfully, I won't lose everything, but it's a good amount. This one hits harder though, because I did everything imaginable when it came to DD. Everything except make DeviceCorp play nicely.
Would be nice if Dickson puts out something that gives us a bounce, LOL. I'll take the write off I guess, won't be hard to reach the 3k limit on this one.
Glad it worked out in that instance for you. While I'm sure I'll take quite a large haircut when everyone dumps tomorrow morning, but I'm still going to invest in PickleJar wherever they wind up.
I'm absolutely gutted. He couldn't tell me that, obviously, for insider trading purposes. Sucks that OTC doesn't have AH, because we're gonna open close to trips tomorrow I'd bet.
Dickson shell strikes again.
I just spoke with Jeff on the phone. Not his fault. Not Dickson's fault. Read the filing and see who else had preferred shares and you will see who the cause of this was. I referenced it in a previous post to work-n-hard. They weren't open to negotiating a path forward after the terms were almost finalized and that's what we saw the past 2 days. He did say that they found another avenue and that YCRM will be doing something that should benefit current shareholders with a path forward, I am losing all the money I invested in this too. It sucks, but it's the OTC.
Fuck. LOL, this is done.
Then this makes total sense, imo. Thanks for clarifying that! When I spoke with Jeff on the phone, he was very adamant that Dickson and the others in prior management will be 100% gone and that they were being cordial but doing their best to get theirs. I actually feel a lot better now knowing that this is probably how Dickson's proceeding, given what I've been told about his reputation. Still tough to watch the bloodbath here, but I'm betting on the long term.
I'm sure we will see a filing in the next few days based on the selling.
Old CEO still had 9.5% of the Series A shares to this point (475,000) and Device Corp had up to $250,000 in Series A that turned into Series B. And the Series B preferred stock is convertible into shares of common stock at the option of the holder at a 35% discount to the lowest closing price for the thirty days prior to conversion.
While all this sucks for anyone with an average above where we wound up today, I'd suspect this is all house cleaning and necessary to move forward. Jmo.
We will see the next TA update or if they file an 8K
Again, I’m thinking logically about this, I think the deal is close and there may be a reason behind his silence. Any material event behind the dump will need to be filed in an 8K within 4 business days.
Smart. If you chat with Jeff as well as the venues and the artists involved with this company, your confidence will be at an all time high. I added large here also.
Got it, understood. I think he was overly optimistic on OTC traders' attitudes and wanted to provide transparency ahead of the merger to answer any questions on every medium he could. I think, now that we saw the sentiment from majority go down the toilet, that he will be a bit more cautious and keep certain details close to the chest.
TBH, at this point, wish they would just fill the .0034 gap, LOL. Then we don't need to worry about anything. This wasn't dilution, IMO, but I do think it was old management exiting prior to merger news. I understand the skepticism, though.
I don't have any influence on what Jeff does, please don't accuse me of anything. He's on Twitter, he's here, and he's available by email/phone/PJ website, so I invite you to ask him any questions you have directly.
Old management is going to be out 100% when the deal is done. This could be them dumping shares and then retail piggybacking in on panic. Deal still on track, new company name, new ticker, new CUSIP, moving forward. Can't blame the panic, but nothing fundamentally has changed. Still 10 MILLION SHARES FEWER IN THE OS THAN WHEN THE DEAL STARTED! GLTYA.
Imo, pure retail panic. Keep in mind how many people got in this with the initial call from many rooms in mid-high trips and were holding 7/8 figure share counts. Got lumped into NH MD and other BS ticker stuff and here we are, LOL. Can't help OTC people are skittish.
Exactly. I think people are taking it for granted how engaging and transparent he has been on these forums. He's not even the CEO of YCRM yet and people are acting like he's the one causing retail panic, LOL. To double down on your first sentence: if I were him, I'd be radio silent until the S8K drops and then drop everything else rapid fire and give a big STFU to the haters. But, he's a nicer guy than I am.
I guess you think he can just hang out on these boards like us and then you try to post "gotchas" when he doesn't make a post as retail freaks out. LOL.
CMAs were last night. The dude is working.
People forget that nothing has changed.
- Original DD still holds true.
- OS still has 10MM fewer shares than when LOI was first initiated.
- Most recent 30MM haven’t hit DTC.
- Typical OTC people have no discernment between emotional and rational thinking.
Yeah I’m just a big dummy
I’m actually surprised there was that many “buys”
I’m sure Jeff will make a comment, but it’s not on him to address anything that’s happened here. YCRM is still controlled by old management and it’s their responsibility to file an 8K or issue a PR. Everyone taking for granted how transparent Jeff is and get emotional looking for him to say something. Relax.
Precisely.
New CUSIP & Ticker get a reset chart ;)
Sometimes people tend to get emotional and follow the crowd all while forgetting that the facts of the fundamentals matter. Will be fun to watch from here imo.
It wasn’t mentioned. Current/old management returned 60MM restricted shares and 4.525MM Series A shares. So these 50MM added to OS are still 10MM fewer than what we started with prior to LOI. This is way overstated panic.
GLTY, goodbye.
Why so smug?
Not Dickson. It’s a guy who’s been quite vocal on the other avenues. Then triggered panic selling and stop losses.
That’s what I’m saying.
Nothing changed. Sure there are shares getting added, but we still have 10 million fewer shares than when we started.
People getting stopped out after a guy dumped over 10 million shares straight into the bid.
Just relax, I hate OTC people’s mindset.
Because one guy with 10MM shares dumped them into the bid.
What you said cannot be emphasized or shared enough. I’ve also called venues locally to me that are on the platform and they love it. This will be a massive success.
In regards to the OTC individuals - LOL. You’re so right, I was/am laughing at people who keep asking what the date is, what’s PJ, etc. it’s annoying, but that’s the OTC. Can’t wait to not be in this cesspool anymore!
I get that, I’ve been there too!
I don’t think you’re thinking about this in objective terms. These deals are expensive and many parties involved, more so on the PickleJar/incoming side. They need to provide shares for fees or for investors to keep the same ownership % that they originally had. I don’t think what we are seeing is a bad thing, certainly knowing it’s not Everett taking his parachute, like you mentioned.
Anyone can clearly see that the promises have caveats, because, like was mentioned below, shit happens. Not many people, ESPECIALLY OTC traders, understand what goes into a legitimate business transaction of any kind. They know BS claims and fake LOIs and made up contracts/deals, but not legitimate ones. I get what you’re saying, but sometimes the bigger picture needs to be considered.