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Only 1 MM on the ask…
I don’t necessarily think Hsu will, but a new owner could.
At what share percentage do personal reporting requirements get complicated? 8% of total OS? Not of unrestricted right? What happens if shares are canceled and you own 8% after? Asking for a “friend”… I know a few of you have large share counts.
There aren’t a ton of options really….
-He threw in the towel and is using the shell for himself. Lot of money spent to not reap full benefit. Could buy a shell for $250k that meets the basic needs of raising capital.
-He is using his current company to be a “non-shell” while he shops for a new owner and adds to the carrier losses.
-He has a sale target and needs to get the shell fully trading. Can potentially make it “ready for Nasdaq”.
-Maybe he wants to do some combination of the above and sell his company along with a good ticker?
I wish I better understood the tax benefits of being owned by a U.S. NV parent and a Samoan holding company having primary operations in China.
Q out. There are some weird things going on with ownership. Now OEC is owned by Continental Development Corp.,another Hsu company in Samoa.
I haven’t had time to read it all.
Here’s my train of thought… I can always be wrong and welcome a challenging point of view that’s constructive. That’s how we learn.
$400k-ish for a shell… implies you want some sort of ROI. This is not a cheap shell. However, it did go to EM for a day. Now, that means we’re unsolicited trades only. We need a 211. Can’t get a 211 as a shell.
OEC was original owner.
Original target Namliong. Didn’t work out. We still don’t know if this was to facilitate a sale, change of control, or just go public and raise capital.
OEC still owns the shell. Would OEC have “transferred” shares? Or was the plan all along to have OEC own SkyCosmos?
8k says we want to sell the shell. Harder to sell shell for top dollar not fully trading. Stock market tanked, nobody buying shells.
Now with a dormant shell on your hands…there’s some press this year around foreign shells. All otc shells getting pushed to unsolicited trading. Many Chinese companies are getting delisted.
Now 8k saying OEC is merging company. They don’t have the revenue to take advantage of the carried losses. That’s the real value here. Not sure how Unicorn Global fits in unless it was to get domestic ownership without fully understanding regulation in light of foreign ownership crackdown.
As a CEO, do I continue to shop my shell around with the threat/risk of it being devalued through US regulatory action, China regulatory action, or do I try to reap some benefits of a public company, or at least make the shell more attractive by restoring full trading and fully going non-shell. Or, with economies recovering, is the NamLiong prospect back on the table at some point? Or, does Hsu really think he’s going to bust more heavily into commodity trading? All I know is he needs more revenue to take advantage of this shell. Remember, he can still split his business off and sell the ticker.
Just trying to put on my CEO visionary hat to understand the decisions he faced with and why he might choose this path. Many businesses are recovering this year. Maybe OEC has a master plan. I’m sure there is more to come and this isn’t the full story.
Honestly, I think this is the same as “no change”. It’s actually Orient Express. I think he did the 8k with OEC to remove shell status. Seems like there has been recent focus on dormant shells. Especially ones that have foreign offices. But we’ll see. I could be wrong. Remember, he didn’t mark “shell” on the 10k. Maybe this is part of completing that loop? This could also be to facilitate a sale. The 10k did say management had no intent of being involved post merger-acquisition.
It’s hard to tell how big any of this really is. OEC was likely setup to be ambiguous by nature of being in Samoa.
Market makers by definition are allowed to manipulate to a certain extent to create a market, unless the ticker is unsolicited trading only. Low liquidity = more market makers making a market. They can decide how they do it. You can decide if that’s good or bad.
Last price was $1.04. Means somebody paid $1.04 per share to buy this stock at some point today.
I think it’s somehow tax related.
From the 10K:
“On October 15, 2021, the Company issued 750,000 shares of its common stock to a third party for services rendered, at the current market value of $0.55 per share, totaling $412,500 as stock-based compensation recorded for the year ended December 31, 2021.
In September 2021, the Company received a promissory note of $51,000 in a term of 3 months with interest charge at 12% per annum. In December 2021, upon the maturity, the Company converted the promissory note of $12,000 into 12,000,000 shares of its common stock and the corresponding outstanding balance and interest charge was waived by the note holder.
“
And now back up again… somebody pecked at it again…
Looks like somebody bought most of that chunk offered at $1.
It’s not “lies”, just exaggeration of truth. I’m sure in ideal conditions the claims held up just enough to avoid legal issues.
My guess is the units are also very expensive vs competitors. Therefor, the ROI/savings probably aren’t great and likely only good for a narrow use case. Something isn’t right or there would be orders.
In many cases, big up front expenditures are harder to justify on capex plans regardless of the upkeep costs.
When these CEO’s split off multiple business entities on their own tickers tied to the same core business, it makes me feel like they are hedging their own financial risk on the backs of shareholders vs using an established business to provide stability/cash with the spinoff being a value added asset.
Whether this is truly the case or not….
I think it’s because BABL is currently unsolicited. The tickers listed are still allowing solicited trades, or non-retail orders.
A lot of tickers blipped to EM for a short period, but when they got their financials in order and came back from EM, they were branded unsolicited quotes only and need a 211. Unfortunately, the 211 process didn’t seem to get easier and requires an MM to stick its neck out for you, but it got easier to move to and from EM. Therefor, we now have a lot of unsolicited companies.
I see it mentioned all over that any legit business can get a 211. However, any mentions of one actually being completed when tied to a merger like this seem to be very rare. I’d love to see any examples of what it took or how long to get a 211 completed.
My understanding is they are basically pushing shells to unsolicited quotation. This forces there to be real business to get a 211 filed by a MM, which I believe is not a public document. You are stuck with low liquidity, retail only orders, until you get a 211 allowing for MM quotations/orders not backed by retail.
There are a lot of unsolicited quotation only companies right now.
I found an error. There is a statement that says the address for the executives is Bonanza Goldfields.
The accountant used a template.
They got retained by B0NZ to prep last year’s annual. Does not appear to be related in any way I can find.
https://www.otcmarkets.com/filing/html?id=16477094&guid=3PA-kpUTl8d-B3h
111 shareholders. I expected less honestly.
Not a shell…. Wonder if that’s an error or something is happening.
I don’t really expect much. Because we’re SEC reporting, they are supposed to release material information within a certain window on filings. A process they seem to have been following.
I want to see the number of shareholders…
I’ve been trying to finish out a clean round number for my share count, but I am far from the only one. Anytime there is even a tiny peck, seems like a couple more chip at it.
I need to come back and clean everything up. Just figured I’d wait until we had something new.
Looks like our GSOL shares will never be tradable because they can’t complete their offering… at least that’s my guess since they said it’d be tradable upon completion… still waiting. They started selling shares when? Last May or June?
We’ve traded less than 40,000 since last June right after Hsiao stepped down. The run up to an $8 close was less than 14000 shares from $2 in March.
We’ve essentially traded only about a quarter of the float in the last year…
Most of my holding is long now. I haven’t sold anything since my big buys around Sept/Oct. I keep pecking at it. Wish I had a net out today. There appear to be deep pockets around .60. I kept getting outbid.
Im pretty sure nobody here is purposely misleading others…
Prices go up and down as apparently so do emotions. I wouldn’t expect great things until the next announcement, whenever that comes. Everyone has different entry points, expectations, and anxiety levels. I’m not sure why there is surprise…. Price goes down = everyone is lying? SMH
Unfortunately, when it comes to sales, no news is usually bad news. Until the company proves itself, nobody believes they are selling anything. At this price, any sign of life could be good, but the track record here is abysmal. Their year to do great was 2021 when people and companies had money to spend.
As long as people continue to buy the shares, it’s a much easier to pay salaries and keep the lights on rather than selling their actual product. Your net profit % on a sold share is much better than a golf cart, lol.
My understanding of the process from what I’ve seen on other tickers is that as soon as the missing filings hit, it will come off EM. However, it will trade unsolicited until a 211 is filed. That means no MM proprietary orders to make a market, so it will trade thin and very volatile. All L2 orders reflect a retail order when you trade unsolicited as I understand it.
Somebody once on another board mentioned that something happens at the 18mo mark of 15c2-11 to make things easier or allow easier quotations, but that I’m unsure of.
He was also briefly CFO of V!VC and facilitated them going public. He was CFO from June ‘20 to April ‘21 it looks like. Nam Liong is also public in Taiwan.
https://www.otcmarkets.com/filing/html?id=14203074&guid=bSl-kqOqQls2dth
Honestly, it’s too hard to know what could happen here.
We know the float is tiny. A lot depends on who buys this thing and where they’re located. Here’s an exercise I did…
Go to the OTCM stock screener and sort for pink current, $2 minimum, 100 min volume, and country as any of the Asian countries surrounding Taiwan…lots of eye popping valuations, micro floats, and many giving dividends. Most seem to trade as ADR’s from foreign exchanges.
We essentially have everything in play from a dump and run in the states (similar to what the custodian crews of yesteryear did dumping shells for cheap) all the way to a way overvalued foreign company pushing 10B+ cap… I’m hoping they find a company over there wanting to trade in the US.
I keep going to back to the carried losses. That implies a profitable company to take advantage.
Yes! Agreed! This accumulation is good. Others are seeing there’s not many shares left. That was a good shake for somebody. I’d much rather get them out of the way when there is a little buying action than to have them sell this thing down hard on one sell.
There’s very few steps available for share buying. I’ve never seen a stock this dry before. Can’t wait to see what happens on the next peep. Still think we’re waiting a few months, but you never know.
It’s not helping that Edgemode jacked up FWA\/ as well, so I’m sure they’ve left a nice document mess to clean up.
Wasn’t there a link to a WY SOS listing as well?
Another $2 smack today. Entry now $2.45. Love it.
Somebody smacked NL$C from $1 to $2 this week on no news. Micro float sec reporting shell.
Another interesting shell….
NL$C just had a big buy and jump this week out of nowhere. It’s a shell with carried losses from a Taiwanese merger that fell through early in the year.
280k float. 14.4M restricted. Hard to get shares, solicited only like a number of ex EM tickers, but seems to have one heck of a setup. MC maybe a bit high for entry with no news, but explodes quickly.
Jumped hard and actually went no ask a few times during the last merger hype.
If y’all want another to look into and watch…NL$C just had a big buy and jump this week out of nowhere. Popped it from $1 to $2. It’s a shell with $49M carried losses from a Taiwanese/Chinese textile merger that fell through early in the year.
280k float. 14.4M restricted. Hard to get shares, solicited only like a number of ex EM tickers, but seems to have one heck of a setup for the right company. MC may be a bit high for entry with no news.
Jumped hard and actually went no ask a few times during the last merger hype.
I think this will be well worth the wait. Multipliers for micro floats, especially in Asian markets, are crazy high.
Here’s to dreaming about a green Christmas in 2023.