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The whole thing was nothing. If you read through the arbitration, you'd see the main complaint was the company thought OTC markets was responsible for the shell and its filings since they were allowing the stock to trade and those filings to be posted. It was as if the company didn't have to do its own due diligence before deciding to buy and inhabit it.
He doesn't have any cash to do a buy back.
By the way, poke around on that Collier County website and you'll find where the CEO's family office sued this company for $12M in small claims court.
No, there was no settlement. They were arguing that FINRA should arbitrate the $390M claim against OTC Link/Markets, FINRA said nope, the judge agreed. It was a waste of time.
I can't link the documents, but if you put in that case number, the Collier County website will let you read them.
Sure. Did you see the part about the lowest trade within 10-15 days? Better watch that O/S like a hawk. They diluted into the last pump.
Let's see... up 100% with equal buys and sells... nothing suspicious about that at all...
Those lenders that have convertible notes at 63 and 65% of the lowest trade in the 10-15 days prior to conversion appreciate the efforts, though.
It would probably be beneficial for you to consider whether the postings were accurate - aka - the truth about the stocks.
Did you guys actually read that 8K?
Probably not. 2 new classes of preferred stock convertible into enough stock for the holders to have an aggregate of 100% of the O/S, fully diluted. Gotta be registered, of course, but doesn't look like the current common shareholders is going to be handed more than a sliver of the ownership of the new company.
Only the ones that it occurs on...
Did you check them about before replying?
The company lost:
https://cms.collierclerk.com/CMSWeb/home/pdfframe?k=QuueFLJ+XrKYIVf8NQbfDN3/BW7faFDwp4FfyedCwA9PW4vKsL8Jujb0J3Y/zuUASWqz8yULy3LrM5UppM4HWQ==
Edit: Apparently, Collier County won't let you do an external link to one of their documents. Here's a screenshot, case # 11-2023-CA-000231-0001-XX
Make that 3 of us with the 500 Server Error.
After hours robot wash trading on AIRE. They were actually turned on just before the close.
Up $10 on a $5 close.
Wash trading robots turned on. Don't get trapped.
Fool me once, shame on you.... fool me twice....
This company thinks the OTC is filled with fools...
So, I ask again, how much actual cash was collected?
Here’s a guide:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173193788
The CEO here was awarded 3.5B shares, increased the A/S to cover them, went through the registration process to make those shares free trading, but the stock has not had any sort of liquidity until this recent campaign. That's a whole lot more, percentage wise, than Elon has. Now the relentless campaign about reducing some of that.
He owned the whole company before he inhabited this shell, now, didn't he? He'd get to keep all the proceeds over costs if there was really gobs of cash coming in. Instead there's the award of stock, the registration of stock so it can sell. On the OTC....
This is the OTC, comparisons to exchange listed stocks and CEO's is absurd. Elon has lots of stock in his companies and lots of actual money, but his holdings are only 13% of Tesla.
The dilution is coming from a lender with a note that converts at $0.000025 per share.
So, it's OK with you that the CEO has a lot of stock to sell?
The OTC has been blamed for things that they did not do. The company filed an arbitration against them essentially saying they let him merge into a shell that didn't have adequate filings... If you were buying a shell to merge into, it is up to you to do the due diligence to be sure it meets your needs.
https://www.accesswire.com/media/728122/final-soc.pdf
If you can "read financials," I challenge you to ferret out the actual cash this money collected for their services and how much of that was owed to the artists.
And, yes, it is very odd over the course of a year to raise the A/S way up only to PR moving it down.
The CEO still holds a lot of stock that is already included in the float. There were over 3.5B shares issued when they inhabited this shell.
No, it isn't. Companies don't go public just to be public. That's fact. The objective is to sell stock to the public to raise money for company growth. This company did a registration statement for the stock awarded to the insiders (mainly the CEO). Once that went effective, all of that stock became free trading, and when sold into the market the company doesn't get the money, whoever sells it does.
Raising the A/S, awarding a bunch of stock, then cancelling part of that stock with relentless social media campaign looks odd, doesn't it? And everything you see is about the stock machinations, nothing to do with improving the business.
Want to know how much revenue is actually collected as cash?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173193788
If this company was really "rolling in dough" and didn't need to sell stock to the public, why'd they merge into this shell? Companies don't go public just to be public, they go public to get access to the capital markets, sell stock for cash to invest in growing the business.
Yeah, sure. After inhabiting this shell, they raised the O/S to 20B shares and awarded the CEO directly and through the "family office" over 3.5B shares. Now they're making great fanfare from cancelling some of that stock, and will likely reduce the A/S with similar fanfare and the relentless social media promotional campaign that's been launched. They didn't cancel all the stock, though, looks like there's still a billion shares sitting there.
No, you didn't. You addressed the potential dilution of Preferred share conversions, swearing up and down the preferred A's couldn't be converted at all until you finally read through the corporate charter and had to agree with me. But you ignore the lender that is the source of over 1B shares of dilution through this pump, converting at $0.000025 per share. Even the reduced PPS from yesterday is a 64 bagger for that lender...
Oh, I'm doing a lot more helping people "make a sound investment" than you ever have. Your posts are designed to appear as some sort of analyst pontificating about how great these POS companies are in order to compel the naive into "buying" and HODL... All of them wind up being pure scams, and that's your track record. Consider this one. There's a lender with a note that converts at $0.000025, yet you never mention it. That lender converted 675M shares before this pump began, another 280M shares after October 13 (while it was thriving), and another 170M in the last week or so. Any real analyst would have tossed a big red flag on this company and recommended people stay far far away from it, especially considering the company's long history of being a scam. Yet here you are with your pollyanna thoughts and an amen from every other con artist on this board cheering it on. That lender surely appreciates everything you do for them.
Oh, there's no sickness here, a sickness would be somebody rationalizing that they're "making money" when they know full well they're playing scams. And I'm not here to save you, I'm just here to counter the fairy tale being told so that some naive soul doesn't hand you their money by buying this stock.
I couldn’t care less about your track record as a con artist. Success in the OTC relies on the knowledge that the fairy tale foundation of each pump and dump is just that, and that it might just fool enough people who haven’t yet figured that out and are willing to hand over their money to the ones that have. It is pathetic to rationalize that you’re “making money” off of things you know are scams, requires a complete suspension of integrity to do that.
Looks like that lender with a conversion price of $0.000025 per share is active once again...
Personal? I knew you'd claim that, hoping to divert attention away from your track record of endorsing stocks. It is horrible, and there's no question whatsoever about it. I know you like to claim that the PPS spike of a pump and dump is some sort of redemption, but it isn't. They all go back down to the reality that they were scams from the outset.
Do you really want me to look under the hood at BLFR? I expect I'll find another scam. Take profits while the pump is still on.
In the casinos, a naive player still has a chance to win. There isn't a mob of con artists (like you) hollering at them to put their money on the line. It isn't a mental illness to detest con artists and their con games, in fact it is far more pathetic to rationalize participating in the con game that the OTC is, just as you have done. Sell your soul if you want to, I'm just here to be sure that people are informed of the outrageous house odds before they hand you their money.
I detest scams and con artists. Doesn't take much time to figure them out. I know the truth is a detriment to your objective to profit off of those scams, but there's going to be warnings given when they're detected, like it or not.
Yeah, sure. Meanwhile, there's a lender with a conversion of debt at $0.000025 per share. What sort of profit will they collect at the current PPS?
"Attacked?" That's pretty convenient when claimed with a posting of your service record. Thank you for that, btw, but "attacked" is an exaggeration, it is a criticism of your record and well earned. Everything you endorse winds up being just another pump and dump scam, and the aggregate of the evidence would suggest the objective is simply to forward those scams. There's not a single example that I've found of a company you've had this "faith" in that has ultimately been worthy of it. At the best, you're not very good at picking stocks, and I couldn't care less about the pump and dump PPS price spikes that have been enabled by your analyses. If I was as bad at picking legitimate potential in these stinky pink companies as you have been, I'd just stop, I'd feel guilty about folks that have lost money listening to long winded, eloquent "analyses" that invariably proved to be dead wrong. But that's just me.
This company is playing everyone for fools....
Shareholders had the opportunity to vote on the election of the board of directors, and specifically the Chairman of that board, yet they chose to overwhelmingly endorse the course that the company has been on for years. They got exactly what they voted for despite the clear evidence that a new direction was needed. So, sorry, but I'm not on board with shareholder bellyaching when they had the opportunity to send a clear message and didn't.
So, is this it? Put up or shut up time?
I don't really follow the goings on other than to pop in at/near the end of the year to remind shareholders that they do get to vote on the performance of the board of directors that works for them, including the Chairman, who is also the CEO. I did take the time to look at the boiler room where speaking ill of the company isn't allowed (more posts deleted than allowed) despite the performance of the investment, Stocktwits seems to be a basher haven, but ultimately I don't see anything in the company filings or PR's that would inspire anyone to make an investment in this company. Looks to me like there's a very real need for capital with a distrust for the CEO and the company resulting in the worst forms of credit, with a PPS that doesn't meet the listing criteria for the exchange (don't bother me with grace periods, here, been on the brink for awhile).
I don't think it's been a "scam" per se, just an egomaniac overestimating his own understanding of technology and his own abilities based on one success, which, today, looks like was luck rather than competence. Really looks like this company is done, though.
Pretty fluffy tweet.... You'd think someone was selling stock or something...
Still hung up on this "shorty" thing. Do you really believe that ANY broker would let a customer leave a short position open for 4 years? Seriously? Do you really think that someone who really shorted this stock (at a maximum gain of 5 cents per share) didn't show their broker the FINRA ticker deletion immediately to get the position closed out?
If you really believe that, you need to hire an advisor to help you with your investments, because you're not good at it.
The process was done legally in 2 federal bankruptcy courts. Despite your affection for the "technology," it lost money every year it operated. The more it operated, the more it lost.
Eventually you'll figure out that people on the internet lied to you about the value of this company and this secret buyout that was never mentioned anywhere other than by them. They lied. Anybody that tells you a company in bankruptcy and especially that is being liquidated is worth multiples of its debt is a liar by definition. If the company was worth more than its debt, it wouldn't be in bankruptcy, period.
I look forward to you figuring that out.