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I would agree, TDA wont let me trade due to limited. Id hit the ask for some. its a little higher than my average but id buy some if I could.
They must need to modify the qtrly. this should have gone current already. I asked Ben but no response yet.
Ok good. Strange it hasn't gone current. If not today then probably need to amend the qtrly for something. I wish I could buy, no etrade. Need to open an account. I think your right, probably get many flushes. then when people see the world hasn't ended , they will reload.
Qtrly was posted. Should go current tomorrow, unless they need a letter from lawyer but in any case should be back current by Monday.
Looks like they need to post the 1st qtr financials. Should be a formality. I would expect by end of the week. Hopefully we get back to current before they post the new SS. Id like to buy a little more down here
Yes fair amount of interest on twitter helps. It will take some time but a good one to accumulate down here
I think the final OS will land around 27.7 mil shares. If you look at his tweet, 4 bil was canceled which left 20 mil still restricted. I think that is the remaining 17 mil to be canceled. So should leave a little over 27 mil OS. Ben has also said they will do a massive AS reduction soon as well. Probably down to 300 mil AS.
Makes the MC still crazy low at 500,000.
I think the ones you need to worry about are the CE and EM. Any CE is probably dead and will be closed. EM have a chance but if the shell owner is inactive probably will go CE. Key is staying current and own shells that you trust their ownership to keep working and trying to RM
Ultimately, IMO I think its best to only own low float(under 100 mil OS) that are moving to be real company with revenue that could eventually move to QB. Audited companies.
Below is the key section to read.
What will Happen to a Shell Company That Has Remained a Shell for 18 Months?
A company that is and remains a shell company for 18 months will lose Rule 15c2-11 piggyback eligibility. A shell company will not lose the unsolicited quotation exception. If the company also does not have current information as required under Rule 15c2-11, it will be moved to the expert market (“Expert Market”) on OTC Markets. I’ve included a refresher on the current information requirements at the end of this blog as well as additional information on the Expert Market.
Take a read of this article from a lawyer specializing in OTC. As long as the shell owners keep the company current with OTC it will still trade . It should only move to EM if they fail to keep it current. It will trade as unsolicited quotes by MM but it will still trade just as it is now.
https://securities-law-blog.com/2023/02/28/the-211-rules-and-shell-companies/
Fink, good article. Below is the key. The 18 month issue is a non event if they keep the shell current. Its just all quotes are unsolicited so MM can play games easier. It still will trade just as it is now.
What will Happen to a Shell Company That Has Remained a Shell for 18 Months?
A company that is and remains a shell company for 18 months will lose Rule 15c2-11 piggyback eligibility. A shell company will not lose the unsolicited quotation exception. If the company also does not have current information as required under Rule 15c2-11, it will be moved to the expert market (“Expert Market”) on OTC Markets. I’ve included a refresher on the current information requirements at the end of this blog as well as additional information on the Expert Market.
Yes . As long as he keeps it current , nothing to worry about. He has as much time as he needs.
I should have followed my own advice
I would bid sit on this spread while we wait for the official SS change. This will take some time . First SS change to the OS, then the AS(probably be reduces to 300 mil) then he will RM. As you know its a process.
From what I can see they added them to the OS. OS went from 9 mil to 19mil. What is interesting is the shares are not currently tradable. DTC only show 2.5 mill free trading shares. Doesn't say they are restricted but I would assume they are in some fashion. Crazy low float at 2.5 mil
Looks like this is a huge benefit , not only to NFTM but to all NFT marketplaces. Take a huge player out of the market that could squash you in a sec. Its equivalent to amazon getting out of the book business. Maybe not quite that massive, but you get the idea
yes 2 yrs ago we would be mid .00. New world now. Not enough liquidity and to much unknown for people to go into a heavy position. If its solid, it will move, but not until we see the whites of his eye
right that's the one I've been going to. a few minutes ago it wouldn't even link .
Does he know his website is down?
In professional roles outside of the laboratory, Dr. Krause has taught microbiology, immunology, genetics, anatomy and physiology, general chemistry, and general biology, and has consulted about the use of CFS and IFN-lambda’s. He currently maintains a voluntary adjunct appointment at the Center for Molecular Biology and Biochemistry at Florida Atlantic University. He is Chief Scientific Officer at a startup company called BioMune, Inc. Dr. Krause also serves on the Scientific Advisory Board of MJ BioTech.
Is Biomune , inc the company?
Im trying to access the NFTM website. Doesn't come up. Anyone have the same issue?
Could be a legacy share holder or it could be a Canadian who was able to buy while it was on EM. There were some good volume 6 months ago. I think its the same person who did a Market sell of 300,000 shares a month or so ago that dropped it into the .00's
Looks like they got 6770 shares.
If you wanted size, today was your day. You could have had 200,000 at .031.
So what happen, did they mint anything?
Strange this hasn't moved since the announcement. The company and names associated seem to be from high level backgrounds. Seems to be very solid RM.
I have no position
I hit the ask for 10,000 just to see what the MM would do. Seems to be just retail trying to unload shares. This person has been doing it for awhile. they will get eaten soon enough
Yes good to see. Even at .06 MC is on 1.5 mil. Ben seems to be finding interested parties even in this tough climate. Especially in the medical or bio arena.
May have someone lined up for this one. Maybe that's why hes been spending the money to get the SS cleaned up
Should see the OS reduction end of the week or early next IMO . Then the AS reduction soon after. I would expect the AS to go from 100 B to 300 mil. That doesn't involve canceling shares, that's just a corporate Adj. move not involving the Transfer agent.
Thanks.
The guy is doing the right things. Hopefully financials will show some revenue. I wish he would announce some restricted share cancelations.
Shell badge removed.
Although Touching Systems has not yet generated substantial revenues, due to the restrictions imposed
in Australia by COVID, they will start shipping this first quarter of 2023. The Company has a clear
business plan and is developing its customer relations and expanding its client base.
This is in there Shell removal request dated 2/28. May take some time to get going but I got to believe the company is worth more than .03 at this moment based on MC.
I don't believe that's new. he's been listed in that role for over a year I believe
I see the request for Shel badge to be removed was granted. Still has Shell risk but that will be removed on their next filing. IMO
What is?
Yes I would agree. I would be curious if the trust still has some equity or they took the money and washed their hands of it. Seems if they cancel the 4b , they are cashed out. the rest are free floating common. Its funny, 3 yrs ago this would be at $.40 with that cancelation and still would be less than 10 mil MC.
Uplist to QB may be the next step with AESO. He has audited annuals and revenue non shell with SP over .01 for more than 30 days. I'm guessing but if I was a betting man, Ben will pursue QB once he files a qrtly showing revenue. IMO
The way I understand Synergy and ECPL is they own or bought the shell from a trust after the owner , Hicks dies. . This is not a custodianship. So Synergy owns a low float public company that they can either merge or sell with no oversight by a court. According to their filings, the float and OS are the same at 24.5 Mil, but what is held at the DTC for free trading shares is less , at around 22,5. So about 2 mill shares were never registered to trade. Not sure how they handle those.
In any case, a nice shell to have control of free and clear.
If I read the definition on OTC marketplace it sounds like Shell risk is better or less riskier than Shell. So once they file their next qtrly and show revenue and operational activity, then the shell risk will come off. Is that the progression?
ECPL is not at risk of SEC. As long as they keep it current , it will continue to trade. What is wont have is eligibility to have their stock quoted by broker dealer.
You see this with many of the current stocks, specially shells.
Warning! This security is eligible for Unsolicited Quotes Only
This stock is not eligible for proprietary broker-dealer quotations. All quotes in this stock reflect unsolicited customer orders. Unsolicited-Only stocks have a higher risk of wider spreads, increased volatility, and price dislocations. Investors may have difficulty selling this stock. An initial review by a broker-dealer under SEC Rule15c2-11 is required for brokers to publish competing quotes and provide continuous market making.
So then what do they tell their customer who is expecting their product to be minted on March 8th if FINRA doesn't comply? If they are waiting on FINRA to launch they are naïve and risking what positive reputation they have gained with this customer if they delay.
Id be shocked if they miss this minting date but it is the OTC. The other possibility is they still mint but the site is not live to the public.
Strange it shows Shell Risk now. Maybe an error or is OTC being strict