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It's also a tiny small business with 5 employees and only $300k revenue per year and a gmail address. Be careful thinking this is the thing that will propel INKW into something decent.
But bottom is 0.0001, then reverse split to get rid of all the pesky shareholders. Then lay low for a couple of years until investors get over their loss and forget the stock, then restart the pump with virtually no common shareholders.
That's what has always happened before with LKEN/INKW.... so why not now?
Yes I agree, there's nothing here that shows large scale dumping of nearly-free shares. We are averaging about 4.2million shares volume per day since Oct first, versus 4.0million volume for the period 1st Aug to 31st Sep. But still, depending on the stock price at the time that 4 million volume per day has equated to anything between $15,000 and $40,000 per day. Not super tiny if someone was trying to unload some shares into the volume over a period of time.
We won't really know at all I'm afraid until the finacials covering the particular maturity periods come out.
The quarterly report that is due now is timed (purposefully, perhaps?) so that the notes and conversions that mature from 1st Oct onwards won't be detailed in them anyway. The next quarterly due (which is "late" as you say - although they are under no obligation to publish it at all unless they want to stay current) only displays info up until 31st July - as does their annual report.
We would need to wait until the quarterly report for the period 1st Oct to 31st Dec comes out to really see what happened with these notes and the share structure. That report won't be "due" until early March 2020.
People can make of it what they will, my own opinion is that the timings of all of these things have been well thought out to give as long as possible for people to string traders along until the hard info comes out.
I do hope this works out for you and others though, I really do.
If this gets to 0.002 you would be better off not buying, because from there it's going to 0.0001
$INKW Company can produce 92 milli..... hehe just kidding.
Yip, that is something we can definitely agree on!
Thanks Jazz for this and the other message. I would love nothing more than for this stock to go up huge and chill on the cruise with you guys! I could use the R&R time to teach Pennies about convertibles (:P just kidding Pennies!). I hope that you all, (and even me somehow although it is hard to see how unless INKW or Lenny decide to do good by old shareholders and compensate us somehow), come out of this ok.
Until I see something different though, I'm still of the thinking that this is another share selling scheme. I hope I'm wrong.
Yes, or that. Oh and in answer to your previous question, the maturity dates of the convertibles are in the latest quarterly report. They dont all mature in October, no.
So many notes were issued at different time periods that they mature over time between Oct 2019 and Mar 2020. Below are the dates and conversation amounts if they are converted, they may not be.
Best to read it directly on pages 4 and 5 of the quarterly though.
https://backend.otcmarkets.com/otcapi/company/financial-report/223889/content
As I said, this doesn't mean the stock won't go up or the company won't be successful. They might not even convert if the noteholders get paid another way and agree. But its definitely something to be aware of. If I owned shares in a company that were potentially going to be diluted by 80% by notes in the next 6 months I would like to know about it.
10/01/2019 100000000
10/01/2019 120000000
10/05/2019 200000000
10/05/2019 23000000
10/05/2019 180000000
10/26/2019 240000000
10/26/2009 20000000
10/26/2019 184460000
11/15/2019 200000000
12/11/2019 212000000
12/28/2019 30000000
12/17/2019 200000000
01/16/2020 100000000
02/06/2020 500000000
02/08/2020 300000000
02/22/2020 300000000
03/06/2020 40000000
I think you are just pretending to not understand. You cannot seriously not understand this. Lenny doesnt own the preferred shares now. BNL (Robert Levit) owns the preferred shares (12 million of them) and Bradley Wilson owns the convertibles that he could potentially convert to 1.5billion shares and account for circa 70% ownership if no dilution has already occured.
How did they get these shares? Lenny made it happen!
Anyway, enough of this...if you dont understand it now you never will.
Guys...just to confirm. The convertible notes that are detailed in the last quarterly MAY NOT CONVERT.
INKW does have a history of note conversion though. In 2015 they converted $2,900 worth of debt into 29 million shares. https://backend.otcmarkets.com/otcapi/company/financial-report/148031/content
Your logic is amateur. Let me try to explain it to you in simple terms. Please read it carefully so you can understand. I have included words AND numbers so you can understand. The below happened in 2012 when the 100-to-1 reverse split happened. It happened again in 2015 even to a larger scale when he greedily split it 1000-to-1.
Story starts......
At the end of July 2012, Lenny owned 2700,000,000 (2.7 billion) common shares, and 10,000,000 (10 million) preferred shares. There were 5800,000,000 (5.8 billion) shares outstanding. Lenny owned 44% of the company's shares. I myself (Danny) at the time owned 30,000,000 (30 million shares).
On 1st August 2012, Lenny split the stock 100-to-1. Now the outstanding shares were reduced to 58,000,000. Lenny now owned 270,000,000 (270 million) common shares plus 10,000,000 (10 million) preferred shares.
He owned 37,000,000 (37 million) shares of the company. This meant that Lenny now owned 64% of the company's shares. His ownership INCREASED to from 44% of the company to 64% of the company overnight. Just because he wanted it to.
I on the other hand, saw my ownership decrease to 300,000 (3 hundred thousand shares) and my ownership decreased 99%.
Thats how it works. Read it several times please if you have trouble understanding these basic concepts.
Any questions?
Hi enthalpy, apologies that I did not reply sooner but I ran out of posts yesterday. I agree with you that conversion into shares isn't 100% going to happen. However, it is the noteholder (the lender) who decides this, and not the issuer (INKW).
INKW could of course agree settlement with the noteholder for any terms agreed between the noteholder and INKW. There is no obligation for the noteholder to convert to shares. But it is the noteholder's choice, not the issuer (INKW)'s.
At the conversion date, the lender (the noteholder) decides whether he wants to convert to shares or to receive his loan amount back at face value. Interest of course accummulates for the duration of the loan period. He can force conversion if he wants to. That is one of the points of convertibles.
The point of these notes is that the lender often accepts a lesser interest rate for the loan, in return for potentially profiting from a share price increase at conversion. If he doesn't want to convert, he doesn't. But if he wants to, he can. Bizarrely, INKW's notes that are convertible at 0.00005 essentially guarantee the bondholder a 100% profit since the lowest that shares can trade for is 0.0001. Unless it goes to no bid of course.
The only exception to this is if the bonds are a rarely used "Reverse-Convertible" bond. In this instance, the issuer (INKW) decides whether to convert or to pay face value for the bond. The notes were not described as reverse-convertibles in INKW's report and they are very rarely used financial instruments.
My goodness. That period is October 2019. In a couple of months. Then every month thereafter until March as more and more of his notes reach maturity. It is right there in the last quarterly report man. I'm not saying that the noteholder will definitely want to convert, but I am saying it is his option if he wants to. And he can do it at 0.00005 per share. Unless he gets something very special from someone, he is not going to just accept $75,000 plus interest for his 1.5 billion shares, who would!?
Anyway I have provided evidence and you are deliberately avoiding addressing that evidence.
Clearly you are a "long" that believes "DD" should only include positives. I am a realist and believe ALL information should be discussed, the good and the bad.
I'm not discussing this convertible issue with you any further, as clearly you have no interest in discussing it sensibly.
Hi nwsun, in answer to your question about
LOL. I have posted the exact rules of conversion for you twice. There is no doubt whatsoever that it is the note holder who decides whether to convert or not[url][/url][tag]insert-text-here[/tag]. The maturity date for most of INKW's 0.00005 notes are between October 2019 and March 2020. YOU seem to be trying to twist the facts sir, not me.
Your own link confirms that conversion is the noteholders option and the reason...
No. Noteholder can convert to shares at their option. That is the whole point of convertible notes for investors. It is why they choose convertibles instead of just lending people straight loans. They get interest but if the PPS spikes they can convert to shares. That is the whole point of it.
look....
https://www.investopedia.com/terms/c/convertiblebond.asp
"Example of a Convertible Bond
As an example, let's say Exxon Mobil Corp. (XOM) issued a convertible bond with a $1,000 face value that pays 4% interest. The bond has a maturity of 10 years and a convertible ratio of 100 shares for every convertible bond.
If the bond is held until maturity, the investor will be paid $1,000 in principal plus $40 in interest for that year. However, the company's shares suddenly spike and are trading at $11 per share. As a result, the 100 shares of stock are worth $1,100 (100 shares x $11 share price), which exceeds the value of the bond. The investor can convert the bond into stock and receive 100 shares, which could be sold in the market for $1,100 in total."
Pros
Investors receive fixed-rate interest payments with the option to convert to stock and benefit from stock price appreciation.
Investors get some default risk security since bondholders are paid before common stockholders.
Companies benefit by raising capital without immediately diluting their shares.
Companies may pay lower interest rates on their debt compared to using traditional bonds.
Cons
Due to the option to convert the bond into common stock, they offer a lower coupon rate.
Issuing companies with little or no earnings—like startups—create an additional risk for convertible bond investors.
Share dilution happens if the bonds convert to stock shares, which may depress the share's price and EPS dynamics.
https://www.investopedia.com/terms/c/convertiblebond.asp
I guess the bottom line is that we have to wait and see. It could be that the whole thing is orchestrated so that the noteholders can cash out big time by dumping shares. Or it may just be that INKW actually did need the money to start up the bottling plant and actually does have plans to make it work long term as a proper business model.
There are indeed nutrasource execs that have been given INKW preferred stock as Pennies says, albeit tiny amounts, so that is a positive thing. They would not have been given them for nothing, they must be doing something for INKW. There is a bottling plant for sure, that is a good thing too.
The current Authorized Shares count (the amount of shares that the company can have out in total) is 3 billion. Currently there seems to be less than 1 billion shares outstanding so that leaves 2 billion that they can convert without raising the AS. In any case though, they can raise the AS or reverse split at any time they want. They don't need anyones permissions. So if the notes total more than 3 billion they can just raise it to 5 billion, 10 billion even.
I got burned badly on this stock in 2011 and I saw many of the same things happening with convertables and preferred shares and the stock always ended up at 0.0001 then reverse split. I hope for current shareholders that this time it is different but that is why I am so cautious and don't want newbies like i was to get burned.
There is still a chance, perhaps even a decent one, that finally INKW has legitamized and could turn into a proper company and perhaps the share price will shoot up. Might even go up big time and make some people here wealthy. So if they like the stock, people SHOULD buy it. Just not put all their money into it in my opinion. And certainly not buy based on false links.
His DD is wrong. He has the wrong Mammoth Ventures. He has been told this by longs and more cautious posters as well but he keeps going with it. Be very careful adding based on this. Trade it sure, even invest in it if you want to, and I hope that it does go up big for you guys...maybe it will! But please be careful friend and don't invest based on his ridiculous information.
Reason? https://investorshub.advfn.com/boards/read_msg.aspx?message_id=150416940
Only if the noteholder allows them to. Not saying they won't, but for sure if I owned convertibles that could convert to 1.5billion shares and the market price was half a cent a share, I wouldn't be settling with INKW for 200-th of a cent each. I would want much more repayment than capital+8% otherwise I would convert.
Remember, even selling them at 0.001 per share (a tenth of a penny) would be a 2000% profit for the noteholder. Heck even dumping at 0.0001 would be a 100% profit.
Wrong Mammoth Ventures...thats why. I think he knows that.
OUR Mammoth Ventures Inc. is a two-bit holding company from Asheville, North Carolina with no website and the only info you will find about them is the info relating to Greene Concepts acquisition. http://www.mammothventuresinc.com/
The Mammoth Ventures that he is pretending is associated with INKW (but most certainly is not) , is a long established company run by Toddy Courtney that has nothing at all to do with INKW. http://www.mammothventures.us/ http://www.bandofoutsiders.co/https://www.thewellness.agency/ https://www.facebook.com/MammothEntertainment/posts/todd-courtney-toddacourtney-concurs/10151902438942483/
By the way, there are dozens of "Mammoth Ventures" and "Mammoth Ventures Inc.'s) around the world, involved in all kinds of industries.
The mere thought that UBS, a multinational, well established, audited-by-law in all countries of operations, financial services firm would get involved with Lenny Greene is absurd. The fact that he somehow believes with UBS' $30 billion annual revenue that INKW would need to sell notes at 0.00005 per share for loans to private individuals to fund operations is even more absurd.
He is either clutching at straws or intentionally putting out wrong information.
I do hope that all investors here do okay, but his "DD" is ridiculous and plain wrong.
You don't understand, or at least are pretending not to understand, how notes convert. 8% is the interest rate until conversion. I assure you it is the noteholder who decides. You don't have to reply to my comments, indeed with your last aggressive post I am not inclined to reply to yours. But you won't silence me as I'm posting facts.
The conversion of notes into shares is not INKW's decision though, it is up to the noteholder. If it is more beneficial to the noteholder to convert $50,000 of loans into a billion shares then they will do so. It would be madness for them to do otherwise, no? Unless of course INKW can, as you say, make millions to settle the debt at an agreed price. It is a big deal that deserves to be recognized. It doesn't mean that there is no hope, of course it doesn't, but it is something that should be discussed.
I don't think NWSUN is negative, I think he just wants facts. No situation is 100% perfect, there are pros and cons to everything.
It is a pro that they seem to be doing something after all these years and that there seems to be a physical factory and a new CEO. It is negative that whoever valued the notes decided to value them at 0.00005 per share. I have seen countless posts about "share reduction" "low float" "thin"....these posts are not taking into account that the convertible notes can and will convert and flood the market unless they are settled at something much higher than the paltry loan sums that were lent. It is a huge issue for anyone investing in this company to consider. If you get shares at .00005 then even selling them all at 0.0001 you have made a 100% profit.
Thank you! I hope so too, and I'm glad that you managed to break even after all those years!
Yes they certainly have no need to change the share structure, it is a low float anyway, but greed can make people do uncool things. I hope that they don't though, I still have 300,000 shares from 2011 that I bought for $9,000 . Only time will tell!
That would indeed be the best scenario, but why would a noteholder like Bradley Wilson or Shaun Dierdrich accept a loan repayment of $75,000 when they could convert to shares and dump on the market for millions? I wouldn't. It is the noteholders option to convert, not the issuers.
I guess time will tell. I don't want anyone to get hurt here, so i hope it does work out.
Thank you NCAR, I've never been through a custodianship before. My logical "good guy" take was to think that if a custodian didn't take care of existing shareholders then doesn't that just mean that they are "stealing" the company? But then I thought...."yeah that sounds exactly like something that would happen on the OTC!" and I do think that an RS may be likely.
Yeah, totally bought at the wrong time and then I didn't have the capital to recover like you did. Learned a lot since then. Be careful though if you believe you can take control of this one's float, they have 12,000,000 preferred shares to control the stock and can issue more shares whenever they want. But you seem to know what you are doing.
Thank you Jazz, good to see you too! Just chirping in a bit because I see some huge similarities in the private stock and notes deals made in late- 2018 and early-2019 as I now saw happened in 2010 and 2014 and want to make sure newbies have the full facts. I also saw a small break in the robo-posts so there may be a chance that my posts actually get read!
I hope you do well out of this Jazz, I really do.
The New Management only owns 30,000 shares Pennies. Management and owners are two very VERY different things. Management are not in control of this pump. They may be party to it, I have no idea, but they are meaningless in terms of the stock issuances. Just like the CEO of a company has no control over what the BOD does.
Where was I at 0.01?? Here, warning a newbie about trading-vs-investing in this stock https://investorshub.advfn.com/boards/read_msg.aspx?message_id=148379432
Don't hate me because I am posting facts. I don't hate you because you post what you believe are facts.
They will have to raise their AS of course, they can do that at any time they want, just like they can reverse split any time they want. I am doing my math right. But, I do hope that all of this that the company is doing is to get up and running and shareholders are rewarded. I just don't think that is the case as in the past they have just screwed their shareholders right out of our shares.
But you are ignoring the 3 billion non-preferred (common)shares that can convert at 0.00005. No reason to believe noteholders would not convert, why wouldn't they?
The reverse splits affect all shareholders. 100,000-to-1 killed us. Share reductions don't affect shareholders other than goodwill sentiment. I still have just 300 shares left worth a few dollars, when I bought 30,000,000 shares for more than $35,000. I don't want to see this happen to others.
You're right, I myself invested stupidly years ago. I skilled up a little, now do a bit better.
To me, it's not a case of being positive or negative it's just to display the facts.
Some people have posts posting aggregator website "predictions" of PPS at $1.50+ per share within a year, yet the aggregator process is using data from 2009 to present and hasnt taken into account the 100,000-to-1 reverse splits this company had. It's important people know this. It is important for people to know this company's history.
Its important people know that a bottling plant has been acquired and there is a chance for an actual business here. But it's also important to know that a few individuals have convertible notes totalling billions of shares and that this was the same MO so far as previous pumps. You can't make any kind of decision about future PPS if you aren't aware of the convertibles that could happen and their timescales - I'm just trying to make people aware as for sure some are not.
What has JAZZ pharmaceuticals got to do with INKW? Please tell me that it is not because we have a poster named JAZZ on here?
No sir I understand the conversion process entirely. Have I posted anything that is incorrect? I would like the share price to go up for people who have put money into the stock, but not for some other suckers to be scammed out of their money. I hope for everyone that I am wrong and that THIS TIME it is legit, but I just see a rinse and repeat of the same ilk as the last few pumps.
3 Billion new shares are going to be convertible between 1st Oct 2019 and 6th Mar 2020 to two individuals alone. That's not including any new issuances since the last report or preferred shares nonsense. Noteholders Bradley Wilson (whoever he is) and Shaun Diedrich have been given notes that allow them to convert to shares at .....WAIT FOR IT.... 0.00005 per share. That is not 0.0005. It is 0.00005 or in other words 200 shares for every one cent that they "lent" the company.
Bradley Wilson alone has notes due for maturity in the next 7 months totalling 1.5 billion shares for the grand sum of €75,000. To buy that many shares right now at 0.008 would cost me or you 12 million dollars.
It is in the quarterly report in black and white - http://www.otcmarkets.com/financialReportViewer?symbol=INKW&id=223836
Rinse and repeat guys in my opinion. These guys have pulled this nonsense before, I personally see no reason why they wouldn't do it again.
There is only one reason why a company does a 1000-to-1 reverse split. That is to wipe out existing shareholders and not have competition to sell shares. INKW has done 100,000-to-1 reverse splits in the last 8 years. A genuine company who had to restructure does it by 2-1, or even 5-1 but not 1000 or more.
Please be very careful. The only reason I post this is because I, with many others, lost more than they could afford to lose to these guys. If you wanna gamble, do it with money you can genuinely afford to gamble with. I see talk of "I'm all in" and I get scared for people that they will end up like me.
Date of Note Issuance Principal Amount At Issuance ($) Maturity Date Converstion Terms Name of Noteholder
10/01/2018 $5,000.00 10/01/2019 Convertible after one year Bradley Wilson
Conversion at $.00005 per share
10/01/2018 $6,000.00 10/01/2019 Convertible after one year Bradley Wilson
Conversion at $.00005 per share
10/05/2018 $10,000.00 10/05/2019 Convertible after one year Bradley Wilson
Conversion at $.00005 per share
10/05,2018 $1,150.00 10/05/2019 Convertible after one year Bradley Wilson
Conversion at $.00005 per share
10/05/2018 $9,000.00 10/05/2019 Convertible after one year Bradley Wilson
Conversion at $.00005 per share
10/26/2018 $12,000.00 10/26/2019 Convertible after one year Bradley Wilson
Conversion at $.00005 per share
10/26/2018 $1,000.00 10/26/2009 Convertible after one year Bradley Wilson
Conversion at $.00005 per share
10/26/2018 $9,223.00 10/26/2019 Convertible after one year Bradley Wilson
Conversion at $.00005 per share
11/15/2018 $10,000.00 11/15/2019 Convertible after one year Bradley Wilson
Conversion at $.00005 per share
12/11/2018 $10,600.00 12/11/2019 Convertible after one year Bradley Wilson
Conversion at $.00005 per share
12/28/2018 $1,500.00 12/28/2019 Convertible after one year Bradley Wilson
Conversion at $.00005 per share
12/17/2018 $10,000.00 12/17/2019 Convertible after one year CDN Associates Shaun Diedrich
Conversion at $.00005 per share
01/16/2019 $5,000.00 01/16/2020 Convertible after one year CDN Associates Shaun Diedrich
Conversion at $.00005 per share
02/06/2019 $25,000.00 02/06/2020 Convertible after one year Nuemark Group Shaun Diedrich
Conversion at $.00005 per share
02/08/2019 $15,000.00 02/08/2020 Convertible after one year Nuemark Group Shaun Diedrich
Conversion at $.00005 per share
02/22/2019 $15,000.00 02/22/2020 Convertible after one year Nuemark Group Shaun Diedrich
Conversion at $.00005 per share
03/06/2019 $2,000.00 03/06/2020 Convertible after one year Shaun Diedrich
Conversion at $.00005 per share
Thank you matissehenri for your helpful information about custodianship. Do you know if the new custodian is allowed (or is it common) for them to reverse split the stock as soon as they get custodianship? Or do they have to legally operate in the best interests of the current shareholders?
Lenny Greenes names is still on the latest quarterly report. If you believe that Lenny Greene is not behind this, or at least involved somehow, then I think you are mistaken. Sure the $1000 a month (salary noted in report) CEO Karen's name is on the PR's (probably because Lenny's name is now toxic) but I truly believe he is still behind this. Of course, I have no way to prove that though and I could be wrong, but the MO seems to be the same to me.
It was 100,000-to-1 all on Lenny Greene's watch. I still have the 300 shares that used to be 30 million shares and lost a ton of money because I believed their hype.
100-to-1 split 08/01/2012
1000-to-1 split 10/13/2015
Total 100,000-to-1
The MO here seems to be to reverse split, hype up the stock price...then run it down to 0.0001. lay low for a few years, reverse split again, hype up the stock price, run it down to 0.0001 again and so on. Sure you can make money on it if you know the game (I didn't when I invested) but ultimately I think this is going down to 0.0001 again.
Many of the old board members here are in the same position as me. Some even lost more money by buying shares directly from the company and getting burned in the "Founders Program" that never launched. We all still have "restricted shares" in our accounts which they never ever worked on getting unrestricted despite the fact they were supposed to be restricted for 1 year.
These are facts. Nothing so far tells me that this time will be any different. The same fluff PR's.
. Be careful.