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I have never seen this level of incompetence. My next door neighbor's six year old running a lemonade stand has demonstrated better competence. I am led to believe that this bunch of loosers are nothing more than grifters who used their creditors to finance their lifestyles. We investors just got caught up in the grift.
Consider that the product is touted to be nothing short of revolutionary, I am also led to believe that the product is bogus. That said, is the SEC, US Attorney or any other law enforcement/regulatory agency interested? Probably not!
More stars in several galaxies combined! PSID is managed by nothing short of hucksters and they are enabled by an ineffectual and apathetic SEC who doesn't give a damn unless the company is a large cap who can afford to pay heavy fines. As a result of the inaction of SEC, PSID management basically believes they can defraud investors with impunity. On page 5 and F-19 of their last 10K filing, they mention that they entered on August 24, 2017 into an Asset Purchase Agreement where they will sell the Firefly product to ExcitePCR in exchange for 10,500,000 shares of ExcitePCR common stock. What is the value of ExcitePCR common stock? What does that mean for PSID shareholders? Why sell any part of the asset that is intended to be the single largest revenue generator for PSID?
Due to a lack of scrutiny and oversight by the corrupt SEC, PSID may think it is simply immune and can get away with fraud. I've got news for management; whether civil court or the US Attorney's office, complaints will be made and lawsuits will be filed!
From my review of the OTC market, with the exception of a small few, most trades have been at .0001. The questions become who is selling at .0001? And how are they making any money and do they even care to make money? This, on its face, is very suspicious!
Can someone please post the link to site showing BMIC trading PSID?
Lol. Here's to us all making a boat load of money. Hopefully we can all gloat together!
The data on the TD Ameritrade site is simply wrong. Speak to the Trade Desk at Think or Swim or look at the Think or Swim platform and you will see the bid is 95 million shares and the ask is 755.77 million shares.
The question becomes is BMIC manipulating the price i.e. 'Fake wall'? It seems that way to me. I will be firing of a complaint to the SEC by the end of business today. I highly encourage others to do the same and let the SEC decide if it is manipulation or not!
I think you mean that by this time yesterday there was 545,000,000 shares traded. It will a good sign if there are able close at where they currently $.0002.
At some point BMIC will have sold most if not all of its shares. They cannot go one for much longer selling at $.0001 per share. I believe the total issue is approximately 1 billion shares and more than half of that was traded today. People sold and by definition some bought. Does it make sense for them to turn around and sell for $.0001 tomorrow? The company should release its 10K within the next two weeks if they are consistent with their release from last year. I would not be surprised if some favorable movement in the stock price happens around that time.
A share repurchase and a reverse split are different transactions. In a share repurchase, the company simple buys existing shares in the open market. In a reverse split, the company, in a declaration says it now x amount of shares. For example, in a 10 for 1 reverse split, if the company had 10,000,000 shares outstanding before the declaration it now has 1,000,000 shares after the declaration. Your individual stock are worth more but the overall value of your holding will not change. If you had 10,000 shares worth $1 per share before the 10 for 1 reverse split, you now have 1,000 shares worth $10 per share for the same $10,000 value after the reverse split.
Hope this helps.
How is BMIC or anyone making any money at $.0001 when the price never went below $.0001? Given the news about the PO of $1,000,000.00, PSID should record sales this year between $6.5 to $7 million dollars. With a sales to price multiple of 4.5 for its space, PSID should command a value of at least $30 million dollars and yet it currently has a value of less the $36,000.00. Never seen anything like this before.
Can you provide the link that shows BMIC is making the trade? Thanks.
The company should have an emergency meeting of its board to authorize an immediate share repurchase on the open market. It would signal that the shares are undervalued, an understatement, and the company could have more control over share price. The share price is now at or below par value.
I believe this would past legal muster. I believe the only legal requirement is for the company to disclose in its next 10Q filing how many shares it repurchased and at what price. If anyone disagrees, please opine.
Next to Firefly getting FDA approval, this $1,000,000 PO is probably the best news this company could deliver and the best news it has delivered in more than 3 years per review of their press releases. Congratulations to management, but this is no time to rest on laurels. It's now time to get off your asses and do a better job managing the movement of the stock. $.0001 per share is beyond ridiculous!
PSID: Management by Forrest Gump without Lieutenant Dan. Convertibles and more convertibles. Has management ever heard of purchase order financing or factoring? Either of these options are off balance sheet and would have zero dilution effect. This level of incompetence and negligence is beyond astonishing!
PSID now at a market cap of $36K for a company that generates sales of approx. $6 mill annually. In 20 years of trading both large and small cap stocks, this is the most ridiculous valuation I have ever seen. At a price to sales multiple of 4.5 for the space they should enjoy a market cap of $27 million.
This is a complete failure of management to protect and enhance shareholder wealth. And there solution, another reverse stock split, which at this stage is nothing more than a bigger target for short sellers and a further erosion of shareholder wealth towards nothingness. I am now contemplating filing a complaint with the SEC in the strongest possible terms I can yield up. After all this time, i.e. two years since FireflyDX prototype, and yet no application to has been submitted to the FDA for approval. What was the purpose of all those tests then? I am tired of con men and hucksters in this space. I will not lose money without a fight!
Respectfully, I think there is some confusion between market value and book value. I spoke to book value. If a buyer gives a seller x amount for an asset you hold then that price, the amount recorded on the balance sheet, is the book value. What I calculated was the price of $5.85 paid for the Bitcoins by the bond seller. Given the company has 18.8 million of these coins remaining on its balance sheet presumably, then it stands to reason that those remaining coins have a have a book value of $110.5 million. The BTA coins sold for $.02121 cents approximately of which the company has 4.1 billion remaining on its possession, which would yield a value of $87 million. You are quite right that one trade does not establish market value, but given the exuberance we have seen in this space I would not be surprised if the market value does not equal or exceed book once the name change and new ticker goes into effect.
Ok you disagree, what is your estimate of book value and how did you arrive at that number?
The entire cryptocurrency valuation is far from rational with Bitcoin trading at $10,000.00 per coin. With this and every other stock in the space, if you have a position and someone is willing to offer insane premiums for it, you don't make sense out of it, you simply sell. That said, given that this whole space represents a new way of transacting and moving money, these guys just might have a legitimate way to make money in it.
Given the purchase of 20 million Euro for 2.2 million BCGc for approx. $5.85 per coin and 400 million BTA for $0.0214472. I calculate the book value alone to be approximately $197 million. These guys have yet to sell or start their mining operation. Given the enthusiasm for everyone in this space, I can't imagine the market value not being significantly higher.
Management at Inolife have been sitting back on their asses taking investors money and have produced absolutely nothing in sales. What a bunch of losers! I will be filing a complaint with the SEC before this week is out and if I don't get satisfaction, I file personally in federal court to recover losses. This conduct by INOL management is highly suspicious of fraud and I am sick and tired of it. You have a breakthrough product that an idiot should be able to sell in the millions but instead you produce nothing! Along with the complaint I will request the SEC suspend trading on INOL stock. We investors may lose, but your fraudulent conduct is at an end. A referral to my State's Attorney General will also be in order. Management, start thinking perp walk!