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Just so you know why I am saying it appears that there is no interest being paid on the preferreds.....if you look at the interest payments made in the first 2 qtrs of the year all the interest payments are for notes....In the first 2 qtrs there were 32,682 pfds o/s of the class A. The subsequent events says the conversion of the 17,318 will bring total up to 50k so I know it is the class A.
So I'm assuming because they have not been paying interest on class A that going forward they won't either.
I don't know this for a fact, just a assumption..we shall see.
Bull, was drinking milk when I read your post, ended up coming out thru my nose...lol
Look at your post it referred to my post #115159...I thought you were commenting on channel trading so I answered...You're kidding right?...get more coffee.
Massman, I know ...didn't take it that way...good luck to you.
Massman, actually this has been a very good trading stock because of the long channel it has been in....Trade in and out of it a few times for 1/2-3/4 penny (or whatever) and you have lowered your cost basis considerable, or you can end up owning a lot more shares, either way good deal.
Super power very informative post, thanks...speaking of accounting, years ago, while working for one of the big 5 or whatever it is nowadays, think it big 8 back then I did some surprising tax returns.
One of them was for this family of about 5 people....basically the situation called for filing on the short form because everything they had was paid for by the family business before draining down to them.
Like I say the filing was on a short form even though each of them had income that year in excess of $1 Million !!!!...Took about 5 minutes each..lol
On that preferred conversion...when they converted the 300,000,000 to the preferred the rate was 1 share of preferred for every 17,323 shares of the common.
NOW if they are convertible back to the common at some point, and I'm sure they are, I really wonder what rate they can convert them back at?...That's where the screwing of the common shareholders would take place.
And that's why we need to know, and have every right to know, the terms of those preferreds.
Guys running thru the financials as far as I can tell those class A preferreds that got the 300,000,000 share conversion don't pay interest. OR I should say the class A's haven't paid interest for the first 9 months of this year....could be a payment at the end of the year but I'm guessing not....hoping not.
Aside: Did you know one of the forerunner companies of POTN at one time owned a vineyard in Italy?
No, it is listed as a subsequent event so it would have to be after the statement date.
Bull is this what you are looking for?...page 5
Subsequent event – after September 30, 2017, each of the two persons holding more than 10%
of the outstanding shares, Kevin Hagen and Elinor Taieb, entered into an agreement to return
their shares of common stock, along with the other preferred shareholders, such that,
collectively, the preferred shareholders returned 300,000,000 shares of common stock in order
to receive the 17,318 shares of preferred stock previously relinquished in exchange for such
300,000,000 shares of common stock, returning them collectively to the 50,000 shares of
preferred stock as originally held.
There's .07 posters coming out of the woodwork.
Funny: Investor Relations: Marisol Elwell, 1-800-915-3060 Like she's really going to talk to anybody....why even list it in the article?
Yea I thought that was pretty funny when I put it on there ...It has worked out surprisingly well over the years though..go figure...:)
Over 8 million served....not bad
Some times when you just can't decide whether or not to buy a stock and you are waffling back and forth here is what I do...just a suggestion.
I put my buying price in at the bid or somewhere under the bid.
The reasoning being if it is meant to be, it will execute.
Usually it also gives you a little time to look over your own shoulder to see how you feel about what you did, before it executes.
Same thing about selling (only in reverse)
Also Ameritrade is pretty good at giving me stocks at the bid from time to time if I am buying (and put my price in at the bid), and at the ask if I am selling..very good execution.
Over the course of a year it can make a nice difference in your account.
The above post is for newbies.... after you have traded for awhile you will devise your own systems for doing things like this
Good gain, heavy volume, nice pattern set up for continuation tomorrow.
Smooth, well said... thank you for noticing, sorry but I spend too much time fending off his infantile blather to offer more theories that we should all, at the very least, be aware of.
I incorporate these theories into my trading of POTN..just wish I had more time to share them but I can only do so much typing with all the distractions.
I'm pretty sure his boldness comes from him feeling protected behind the alias of Upordown...it is pretty easy to tell it is the same person.
I try to go easy on him because he appears to be going thru a tough patch in life and I don't want to make it worst.
Bull I would be very surprised if they did not break the $2M sound barrier for Nov and Dec.
WIC I'm not going to tell you again...when you feel pressure stop pushing on the cotton swab...I have a feeling it came out the other side too many times already.
I am right here watching the festivities.
Did you read post #114966 by Justin Bailey...he understands trading.
Anyway enjoy, nice day for us.
Good trading today Bull.
Huge bid, small ask, tight spread, dipped price...this is where the true believers pile in.
My thoughts too Massman...I was thinking there may be a advantage to holding the price down for management in determining the conversion of the preferreds. Or it may be something we have not been made aware of yet....anyway it sniffs of "intentional"...I guess we will find out soon enough. There obviously is a lot of news just sitting in the pipeline .
Please post under only one user name, remember multiple aliases are a no no.
Someone might want to spread the word on POTN over at thelion.com on the "pinks and BB" forum...also might want to put it on the "wall street pit" forum over there as well. They have a lot of big buyers who are knowledgeable and helpful and would be a real asset to spreading the word.
I would do it but I lack the necessary conviction to want to put it under my name over there.
Senseless attacks may now begin.
A history of my life as a short.
Many years ago I shorted my first stock, made money on it too.
I think I was trading with Scottrade then.
Course after the fact I did some reading up on shorting.
When you short a stock your broker borrows the shares you sell from another client.
I read and confirmed with my broker that if that client sold his shares I had to close out my short.
No matter if I was under water or how far under water I was, I had to close out my position based on what someone else did.
Well there was no way I was going to let my account be at the mercy of someone elses actions.
(That is why I suggested to everyone here a month(s) ago, to put in a hi sell order on your POTN shares so they could not be used against you for a short.)
That was my first and last short and if I ever short again it sure as hell won't be a .06 cent stock.
So you guys who see a short under every cabbage leaf, and a boogie man under every bed...when you go hunting for them, look elsewhere than my account. You are making yourselves look like dummies.
Walkincrap you use more words to say nothing than anyone I've ever seen.....I mean there's nothing in your post but a megaphone, pom poms, and some of that left over cow pie material....go back and read your post, there is not one bit of DD in any of them. And then you attack the people who do their DD, you don't attack their DD, you attack them personally.
Oh wait a minute I see some DD you did, you count peoples followers, great digging.
You are a piece of work chum..The less you post the more you contribute.
Obviously it's easier to call someone a short than it is to discuss their logic. I'm glad you made a killing in POTN I really am, but you seem to take everything I say as a afront to you and your position.
Me and probably pretty much everyone else here, other than you, are more concerned with where POTN is going, not where it has been.
One of the big advantages to being on a board like this is the sharing. The sharing of ideas, the sharing of problem solving, the sharing of information and due diligence etc etc.
But you and a couple others here seem to want to shout down anyone who doesn't toe the line of buy, buy, buy.
What are you guys so afraid of?
Let the people talk, and if POTN is a good stock, nothing we say here will harm it, nothing we do here will impact it in a negative way, it will go where it is going to go.
In the meantime all of us may learn something we can apply to the next trade to earn some money and have a better quality of life.
So please don't think everything we say is about you, open your eyes and open your mind because I bet you too my friend, can learn something from what is said here.
True Bull, a lot of stocks in the marijuana sector have been making nice gains in the last couple weeks.
POTN has a lot going on, but it's like pulling teeth, and there are a lot of other marijuana stocks, to pick from, that don't require so much dentisrey.
Hang in there Monte and please, please, please don't let the community sentiment on Ameritrade influence your buy-sell decisions LOL.
And then there is a hybrid of the two methods:
You set up your account so you have a starting position in the 5's and keep your powder dry to buy the mother lode if it does break out.
That way you have a lower average buying price but you have also largely protected yourself from the downside.
And it's possible that those with a little risk aversion might sleep better too, by not being locked so heavy.
I'm having some alternative thoughts to how I am going to handle POTN going forward. I will keep this as short as possible.
There is a common theory of trading that says buy low, sell hi.
Another theory is buy hi, sell higher.
The wisdom of the first theory (buy low, sell hi) is obvious though usually a little tricky to execute.
The second theory, buy hi-sell higher, in my experience, tends to produce more assured results, with a slight reduction of returns.
Using the first example on POTN and the efforts to load up in the 5's
Bi low, sell hi
When you try to catch a stock at its bottom, you are gambling that you have found a gem as yet undiscovered by everbody else. You assume the reason it has NOT moved up is less important than the belief that it WILL move up. It's the old FOMO (fear of missing out)
However if it is not moving remember the market can stay irrational longer than you can stay solvent.
Now the second example is the one I am considering......waiting until POTN breaks 8-9 cents = "The breakout"
You have use of your money till it breaks out and if it never breaks out you don't risk it moving down from the 5's
Let' face it, if POTN is going to 25 cents or 40 cents or $10 as some have said...will it really matter if you got in at 6 cents or 8 cents.
It is a balancing of risk/reward and I won't get frustrated if POTN sits here forever, I can be making money elsewhere.
Anyway just something to ponder...another tool to consider.
Not saying one method is better than the other just something I'm thinking about.
Each method has it good points and its flaws
Just thinking with this particular kind of movement (or lack thereof) the second method is becoming a consideration with me individually.
Some here think the cow-pie itself is "AWESOME".
Go figure
Ok boys and girls we now have a prediction that POTN, which is currently selling for .06 cents per share, will go to $10 per share (no I'm not kidding)
Gotta say this is one happy playground
When I saw that I immediately started farting rainbows.
Quite frankly it put me in a predicting mood of my own.
I predict that before Christmas someone will predict that POTN is going to $20 per share (once again, no I'm not kidding).
Hope everyone is having a great weekend, and for heavens sake go light on the cow pie mushrooms.
Well due to the preferred conversion, POTN market cap is now only 16M so whatever they think they are going to uplist to better have a awful small mkt cap requirement, or they will need a real explosion in price.
That is a very cool way to do a study on the hour/order number sequence...good thinking.
Ok understood, sorry for the confusion
Nfreed, the fins are out, here is the link
https://www.otcmarkets.com/stock/POTN/filings
They came out a couple days ago
Hoping for those other prs'
A farmer once said,
In the lottery you risk $1 to make millions
In farming you risk millions to make $1
Hoping I don't end up behind the plow.
Bull this company was posting prs at the drop of a hat just a couple months ago, and all of a sudden the fins don't even merit a pr??????????????
Not in Park, more like Reverse.
Started the week at .065 traded 19M shares..closed the week at .059...-9%
We wish it was in park.
And this week they released the fins (which I thought easily had more new good in them than new bad), so we don't have that reason any more.
Head scratching time I guess.
Or do we now think it is all on the preferreds?
I mean besides that note, we need to take care of.