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Ok, I missed the update. Thanks.
And, yeah, most of those guys don't have any shame at all, collect their lavish salaries whether the company is progressing or not, and if/when it fails, they'll get paid a retention bonus, maybe even a termination bonus, while the vultures are buying up everything of value the company owns. Folks have to be able to recognize when they own stock in a failing company and hit the exits before it does.
Oh, please... Surely you are joking. The subsidiary with the company operations in it is being liquidated and shut down, and you think the parent and issuer of the stock is going to survive after that with no business operations at all? You think there's value in that?
FINRA got it right. Without the Q, some con artist pumpers would probably fabricate up some fairy tale about the company and stock surviving this with exaggerated value and steal money from naive investors who listen to that crap.
You really need to learn to read things in full for understanding rather than hunting out a single sentence that you can misrepresent for your little fairy tale. Perfect example here, that whole paragraph says there'll be nothing for the shareholders at all, ever, if you understand what the phrase "proceeds of realization from the Company's assets" means. They sold everything, that whole list of assets in the APA that you intentionally ignore, including the plant and everything with it and the IP. That's supported by the very fact the buyer took full possession of the plant and put it back into service.
I can put yet another link to that listing if you're still confused or pretending to be.
Nope. This is just too obvious. You don't toss the whole O/S of any stock over 30X's in a day, much less in a few trading hours. It's criminal.
Longs who were stuck, now's your chance.
I'm not so sure that would have ended it. Since this one, I've watched SHLDQ, BBBYQ, TRKAQ, and a few others, all were cancelled by the bankruptcy plan, all of them still have folks on social media claiming they're coming back or going to be paid handsomely, etc. Here, the monitor said over and over there was nothing for the shareholders, even published the 10th report to lay that out and let everyone know they'd told FINRA. Even before that, the shareholders' lawyer was told directly by PWC's lawyer there was nothing coming, so the fabrication team knew full well the buyout fairy tale was a lie. Seems a lot of these bankrupt, publicly trading companies have con artists who think they can make a quick buck with misinformation and outright lies, and they continue to tell them afterwards for some sort of pathetic amusement.
Computer generated wash trading. The O/S of about 40M has already been tossed over 6X's today, brazen manipulation. Don't get trapped.
You can't pump this. When they turn their robots off and end the wash trading, those still holding the stock are stuck with heavy bags.
Computer generated wash trading, the O/S is about 8.5M shares, already traded over 240M. Every share in the O/S has changed hands, on average, 30X's already, brazen manipulation. They'll turn those computers off, don't get trapped with grossly overpriced stock.
There was nothing in the APA that BioAmber didn't "control." There were some jointly owned patents, but BioAmber's interest/portion of those was also sold. That letter said the monitor had possession of or control over the remaining assets not yet sold, which, if you were paying attention you'd know it was essentially inventory and office equipment, and that they were subject to security/liens, and those liens were released when the monitor sold them off without objection.
I've put the link up to the 6th monitor's report several times that had the APA and the listing of everything sold in the liquidation. It was all well documented and above board, approved by the 2 federal courts without objection from the creditors who had security in the assets. They didn't "get away with" anything, it's how bankruptcy works.
A new record for the brazen manipulation of a NASDAQ stock. MBIO has an O/S of about 11M shares, today traded over 1.1B. Every share in the O/S changed hands, on average, over 100X's.
No stock with an O/S of only 11M trades over a billion shares in a day. That's computer generated manipulation, pure and simple. They're going to turn those computers off, leaving a bunch of naive folks holding some very overpriced bags.
Somebody's playing with the stock trying to coax up a bid to dump on.
Computer generated wash trading... the O/S is about 11M, volume today 740M, every share issued and outstanding has changed hands, on average, over 60X's. That's manipulation pure and simple. Don't get trapped.
You should read that whole letter... it says very clearly shareholders were getting nothing. The 1 section he went haywire underlining was talking about the assets left over after the liquidation, and even those assets were sold with court approval and with no objections from the secured creditors. The key thing is the shareholders' lawyer was told in no uncertain terms there was nothing coming, ever, for the shareholders a whole year before the ticker was deleted, yet the DD Fabrication team continued to lie about it.
Yeah, well, it isn’t uncommon for a US Trustee to close out a bankruptcy winding up (dissolving) the corporation and cancelling remaining debt and equity, nor is it uncommon to leave the debt attached to a dead public corporation. With a Canadian trustee/monitor dealing with a US based public corporation with debt attached to both the Canadian subsidiary and the US parent corporation, not surprising (I guess) they just left it dead. PWC, though, had a plan to end the fairy tale, told everybody in the 10th report, and completed it with a simple notification of FINRA.
That letter is very damning to the con artistry that was going on here. An answer to the shareholders’ lawyer about a year before the ticker was deleted, meaning the “fabrication team” knew the truth very well and still pushed the buyout crap. That makes it even more stunning they’d hang around here and pretend to believe 6 years later. Of all the things a person could pretend to be, dead wrong isn’t the one I’d pick.
That letter refers to the remaining assets after the liquidation, which was some remaining inventory, office stuff, etc., minor stuff. The patents (including BioAmber’s interest in patents shared with others) were sold in the liquidation. Those assets were also sold with the approval of the court and the creditors who had security in them (and everything else).
That’s a new letter for this board, and I can see why it wasn’t posted while the pump and dump was still in play, as it clearly states the shares held no value whatsoever back in 2018 after the liquidation and nothing more was coming. That wouldn’t have supported the fairy tale buyout very well. It appears the PWC lawyers thought the shareholders’ lawyer was a numbskull the way they presented their answers.
Nope. Couldn’t care less about what you or the other con artist pumpers do with your shares, just informing folks who might be considering buying them from you that they’re being conned.
Once again, you have it backwards. A stinky pink OTC shell company that has been a perpetual scam has to be proven to have gone "legit," claiming a multi-billion dollar enterprise in China, one that happens to be an LLC (know what those are?) based in a virtual office in Canada, has gone prompt stupid and elected to hand over their equity ownership to the shareholders of this stinky pink OTC shell company. Scam after scam after scam, and now you're demanding proof of another one when it is common sense. And, btw, we're not trying to save you, we're informing the naive new OTC prospects who might have stumbled in here from a Google search that they're being conned out of their money.
Nothing like a little wash trading walk up to try and coax the bid up. 26M sells to 16M buys, up 44%, couldn't be more brazenly obvious.
Oh, please... the "cost and burden" of an IPO is a lot less than handing over any equity ownership of your company to the bagholders of a scammy stinky pink shell company. And this ain't no SPAC. SPAC's sell stock to the public and build a nice treasury full of cash which is handed over to the incoming business.
Here's yet another copy of the 6th monitor's report (aka - another "factual court document) containing a copy of the executed asset purchase agreement. The items sold in the liquidation begin on page 77 and go on for about 100 pages, including the plant and all the IP. You really should read this thing sometime, I know you haven't since you continue to post up things that would be cleared up if you had.
https://www.pwc.com/ca/en/car/bioamber/assets2/bioamber-043_120718.pdf
I did not soften my position at all. The EMGE shares own equity in a lifeless subsidiary. They effectively cleaned it out and left the EMGE common shareholders holding equity in a subsidiary that has nothing going on. Plus, the reverse split is still on the table until they say it isn't, in fact it was the only mention of the common shares of EMGE in that whole exchange agreement.
The preferred shareholders of EMGE got the KOAN stock, EMGE common shareholders got nothing but bags to carry. KOAN isn't exactly a juggernaut, either, appears to be just as dead.
That’s a whole lot of purdy words, there, cupcake, a nice smokescreen. But it doesn’t change the fact that the only shareholders of EMGE that received shares from KOAN were the preferred shareholders as stated in the share exchange agreement. EMGE is now a publicly traded subsidiary, but its shareholders only hold equity in that lifeless subsidiary, not the parent.
Hogwash. Nobody with $50M to spend is going to hand it over to a 2-bit company whose product is fluffy PR's. They'd look through the books of the company (called doing due diligence) and would see this company has absolutely nothing but paper/accounting assets, $26K in the bank, hasn't been spending a plug nickel on R&D, and then see all that convertible debt. No way no how is anybody handing them even that $1M when it is very obvious this company isn't real.
Safe harbor for forward looking statements does not apply to penny stocks.
Adeel was a scammer who attempted to run a pump and dump on the IMNPQ stock and got it suspended. That’s fact. He’s gone, not a single whisper since the Trustee and the SEC outed him.
They have not "paid down" any debt, it has been converted into stock, a lot of stock. They had the same $26k in cash noted in both their annual and quarterly reports, and it takes cash to "pay down" debt. This whole pump and dump is about the lenders with convertible notes being able to sell the stock from converting the notes, and there's plenty left.
And I couldn't care less about a "strategic partnership engagement letter," nor an MOU, LOI, etc. That crap is typical fluffy BS that stinky pinks issue PR's on trying to con naive investors out of their money. None of those things are worth the electrons it took to propagate them through social media.
And, once again, this company has only $26k in cash, the only other assets are "Goodwill" for overpaying for RMC and self valued IP/Software. That's it. Add to it ZERO spending on R&D, and the truth is very clear. They're not building anything here but a pump and dump fairy tale.
Page 6 of that quarterly detailed the convertible notes as of March 31. They had one for $232K, one for $56k, and one for a little less than $15k. All 3 of those notes convert at $0.0001 per share. The 301M shares converted since that report would only address $30.1K of that debt.
You guys are attempting to imply those horrible convertible notes may be gone, but they're not and won't be since there's hardly any cash and no source of revenue whatsoever.
And... I'm not concerned about you, just don't want a naive investor to wander in here and read all this pumping crap and get conned out of their money.
Don't care how they played their words on a tweet, the debt is converting because they have very little cash and haven't spent any of it. The balance of their notes is a lot more than $50K and remains ready to convert. It isn't gone, suggesting it is just a fabrication. It's all right there in their quarterly, anybody wanting to know the truth can read it:
https://www.otcmarkets.com/otcapi/company/financial-report/402556/content
They had $26k in cash at the end of the year, then again at the end of the quarter, and have no source of revenue whatsoever. They're not paying off anything. The debt converts at $0.0001 per share and gets sold into whatever liquidity the company (and pumpers) can stir up with meaningless LOI's and MOU's.
They’re not paying any debt, it converted into stock.
"A lot of red flags" is an understatement. This is a scam. $26k in the bank, zero spent on R&D, lenders with convertible notes at a PPS of $0.0001...
They're not building anything but a story.
Weirdest ratio of a RS ever...
Generally, OTC mining stocks are scams. The numbers on that one look OK, but it's very odd that, after posting a net operating income of $2+M for each of the last 4 quarters they'd choose to do an offering of stock to raise $500K for expansion. That offering also includes a registration for about $300K of stock owned by others.
It is very suspicious they're selling stock while making profit that is more per month than they say they want to raise.
Yeah, I know, and you were right. Seems some tickers on the OTC have jumped the shark lately with claims of multi-billions in assets, revenue, value. Don't seem to realize that crazy numbers like that are more red flag than plausible.
https://www.otcmarkets.com/otcapi/company/financial-report/402556/content page 13
Assets listed are $16,934,523 of "Goodwill," meaning they overpaid when RMG merged into this shell, and $2,836,340 of software/IP, which they valued themselves. They also had $26,330 in cash. That's it.
Page 14 shows zero revenue, $377,058 of G&A expenses, zero spending on research and development, which means they ain't doing squat towards making any cars.
This is a scam, fluffy PR's to help their creditors convert loans to stock at $0.0001 per share and dump it into the float.
The people who invested in ANEW when it was private are the ones who are going to own the bulk of it. That's been very clear from the RM a couple years ago with the nearly immediate announcement of the 1-2500 RS and the change to the corporate charter to reflect it and the award of the preferred B shares to those investors in ANEW with a 100-1 conversion into commons. The RS reduced the O/S of about 1B shares down to 400,000 shares, and the conversion of the preferred B's would make 40M common shares, so the legacy shareholders of LEAS would get roughly 1% of the company. That makes perfect sense, since nobody holding LEAS shares has given ANEW a plug nickel, they hold and trade shares sold by the failed businesses that once occupied LEAS and for which the cash raised from the initial sale is long gone.
So, no, the LEAS holders are not entitled to a significant portion of the RWOD/WENA stock.
Don't know. I'd bet they're getting the story straight for the exchange of stock. I've said all along the common shareholders of LEAS were going to be RS'd one way or another since the Dr. had been very public about what he was up to, but the naive who thought they'd found a "sure thing" on the OTC and didn't actually read through the financials for themselves are still going to whine about it.
On the other hand, you do know that virtually all the retail common stock of RWOD was redeemed for cash, right? That means that the Dr. is merging his company into a shell with no cash to do anything with now, and carries the burden of the founders share holdings, effectively giving a significant part of his company to them for nothing. Cash in the treasury is why some companies do these business combinations, without it, it may not be worth it. If they have to turn around and do a stock offering to raise money, it ain't gonna be at $10 per share.
He must be referring to the outcome of a 1-2500 reverse split of the common stock followed by a 100-1 conversion of the preferred B shares described in every quarterly/annual report. That works out to 1-250000, of course, so if he only does 1-25000, it means that instead of the preferred B shareholders getting 99% of the WENA stock, they'd only get 90%....