Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
That's messed up man. Some of us have a lot invested here. Next time wait to say there's news until there's actually news!
I'd like to hear about this operation in mississippi. I'd consider that 'news'.
GLTA
What is the news?
Does seem interesting to say the least. Even if there is no conflict of interest, I'm sure holders would like to see this done as a part of SNPW. We are reliant on Nick to make all of this work out... So if he's going off on his own and doing side deals... even if isn't a problem or conflict of interest... it's a distraction at best.
Could be a positive... but there are so many SNPW things to make progress on, that it would be slightly discouraging to see this thing get up and running and making a ton of $ if we're just sitting around waiting for things to happen.
Hope we see success, UL, med expansion, etc. soon.
Good morning!
Can someone clarify for me the funding for the joing venture.. I saw a link posted to the join venture funding site but it looked like it was closed and private, like we already have what we need?
Question for everyone... If you had a million dollars to invest in either pctl stock or the joint venture... which would you choose? We don't know the terms of the JV, so the answer requires speculation and I get that.
All in all... Nice to see us still holding strong above a penny. Avoids toxic debt situation of 2 years ago and keeps uplist hopes alive. Lets close the week strong!
Sounds correct!
I have a friend who owns about 16,000 shares. If we get $0.20 per share. She'll get $0.20 per share, I'll get $0.20 per share, and the plaintiffs would get $0.20 per share.
I'd note that in the lawsuit there are a couple of 'punitive' sounding things.. I believe they asked for $1,250,000 or so, as well as legal fees.
I'd assume that this wouldn't necessarily go to everyone, but be returned to those who contributed to legal efforts, and then any left over would likely go to those who did the work and took the risk ( plaintiffs)... but that is above and beyond the core ask... which is that every shareholder and every share be paid our fair portion.
I added a few today myself ($500 worth). Price has held up pretty well and there is the nice-sized bid at $0.0105 keeping this above a penny.
If and when this runs, it is going to run big. There are are a few folks who hold a lot of shares and aren't selling for 2 pennies, 3 pennies, etc.
It has been good to see the very low volume. I was concerned that the selling pressure from that debt changing to shares would send us down, but it has not.
News has been positive with people using pctl products.
When I first invested it seemed like a 'hare' situation, but this Co. is more of a tortoise. That's ok. Slow and steady.. As long as we're making progress and not digging the hole deeper. I think we're there, but we'll see what the next Q report says.
GLTA!
This is a typo and that is not his name. This is the action that shareholders are funding. A positive result would benefit all. If one reads the initial filings, it is clear that the filing is about more than just the two holders named. Glad this is happening soon!
Not voting yes on any buyout. I doubt Brett Rosen would either.
We'd need a huge offer to even consider.
There is a 2 million share bid out there at $0.0105. Hopefully that's enough to keep us above a penny long enough for the uplist to go through.
yep and I'd say the impact is exponentially positive...
Not sure how the exact numbers would shake out, but for hypothetical example, maybe every 1% increase in oil prices may be a 5% increase in our revenues, profit, etc.
Especially with the new joint venture, it's great timing to seethe market trending this way, and I hope we can capitalize. It's now or never!
Oil prices setting up nicely. Obviously we need all our stuff to succeed and be adopted by the industry... but if it is, these rising prices are very good for us.
Over $80 per barrel. Next time you're paying a lot at the pump... consider it well worth the cost because of the profit potential it creates here.
There are a few people I can't see posts from, but I think it's reasonable the conclusion Snow and others have drawn that BR currently isn't funding in the same way he was before.
The two latest funding things do not look like Brett's doing. In the first at the end of June, we sold $87k receivables for $60k. No one would argue that those terms are better than what Brett was giving us before. Perhaps he ran out of funds, but I don't think so.. I'd guess his targets/demands weren't hit and he cut us off until they were. This was a few months ago and so maybe he is back to being interested now.. WHo knows? I agree with the concerns about the two bold items below, and I do think they're 'proof' that Brett wasn't excited enough to fund us on the same terms as before. However, on the VERY positive side of things, it looks like we see in subsequent evens that some of this stuff had been taken care of... so perhaps Brett just didn't have any funds over the summer but he stepped in and help pay the bottom things off? Who knows? Overall, looks like it wasn't a great summer, but we came through it.. I agree with the concerns about some of this summer funding, but hope it's all in the past. I do believe Brett is here for the long term and whether he funds us anymore or not, I hope we become cash flow positive soon and don't need it!
On August 12, 2021, the Company settled the outstanding principal and accrued interest on a convertible note payable through a cash payment of $179,000.
On August 16, 2021, the Company settled the remaining outstanding principal on a convertible note payable of $88,795 and accrued interest through a cash payment of $21,000. In conjunction with the debt payment, 8,000,000 shares were issued on 9/1/21. As part of the settlement, the holders of 107,142,857 warrants have agreed to cancel said warrants once the Company is no longer delinquent with its filings with the SEC.
On September 16, 2021, the Company settled the outstanding principal and accrued interest on a convertible note payable through a cash payment of $122,694.
On June 29, 2021, the Company sold future receivables with a non-related party for $87,000, of which $27,000 was loan fees and original issue discount resulting in cash proceeds to the Company of $60,000. During the six months ended June 30, 2021, $0 of the discount was amortized to expense, leaving a net note balance of $60,000 (discount balance of $27,000).
On May 3, 2021, the Company entered into a convertible promissory note with a non-related party for $128,000, of which $3,000 was an original issue discount resulting in cash proceeds to the Company of $125,000. The note is due on May 3, 2022 and bears interest on the unpaid principal balance at a rate of 12% per annum. Stringent pre-payment terms apply (from 15% to 40%, dependent upon the timeframe of repayment during the note's term) and any part of the note which is not paid when due shall bear interest at the rate of 22% per annum from the due date until paid. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price equal to 61% of the lowest trading price during the 15-trading day period prior to the conversion date. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. As the note is not convertible until 180 days following issuance, no derivative liability was recognized as of June 30, 2021.
Thanks for that.. Wasn't super worried but it's still nice to hear there is likely a good explanation. I hope his medical issue gets resolved and I'll leave him alone for now.
Have a great weekend!
I've heard people have good luck with the new IR... I wrote them about a week ago and haven't heard back.. Nothing huge... just mostly wanted to see if they'd responsd. I asked if they plan to have Q3 fins on time, and I thanked them for the info from the Podcast a while back. I did state that I'd prefer written FAQs or something in the future, but all in a good way.
I've heard a lot of stuff on here about people hearing back and such. Is that just from calls, or do you guys email as well.
Nothing huge, but I heard from some of our old IR guys right away. Not always able to tell me much, but still responded. I'll assume it's a fluke, but I did expect to hear back.....
I own a ton of shares myself.. I don't think people are being misleading and I think there is genuine excitement about the future. I try not to let myself get caught up in it, but I totally get it.
That said, it's hard to hear these announcements about million gallon deals and such, but then see filings just days later showing the big discount we sold future revenues for.
I also am slightly concerned that share price is so flat/down. As you or someone else mentioned..... I'd like to see people in the industry buying up shares and validating what we are hearing. At this point, how we're presenting it doesn't really line up with how people who do know about O&G are reacting. I guess they're waiting for phase 4 to be complete and papers to be published? Thing is.. with pharma stocks you see them running huge before final stuff is complete. I'm not clear why that's not happening here.
I too have been concerned about the shares and selling future revenues for such a big discount.
They aren't huge amounts, but it's disappointing to see because it seems to indicate we've exhausted our line of credit with Brett Rosen. Why would he pass up 30% return?
All that said... these aren't huge amounts of money, and so if we become cash flow positive in Q4, I'd hope this concern goes away going forward and we either don't need to borrow, or we can do so at much better terms.
I'll note that a note was paid off on 9/16, but it's not clear if it was one of these. Even with an up to 40% prepayment penalty.. I would love to see them pay these off before they'd convert to shares. That's the first thing I'll look for on the next filing.
I am bullish going forward.
However, I believe that there is potential for the OTC application to be denied if potential dilution would cause us to go over $1b shares. At the time of filing, it was roughly 950,000,000 float fully diluted give or take.
However, we know that a price drop would cause this to be higher. At a glance, the potentially 'increasing' dilution I see is the following
3-26 $83,000 (61% of lowest price over prior 2 weeks)
4-5 $43,000 (61% of lowest price 61% of lowest price over prior 2 weeks)
5-3 $128,000 (61% of lowest price 61% of lowest price over prior 2 weeks)
We dropped to right at a penny the other day so if they wanted to cash these in right now ( The May one they'd have to wait 4 weeks or so) instead of the roughly 24,000,000 shares that would be issued at fair value to cover this, because of the discount, we'd need to issue roughly 40million shares. This is not an extreme increase... but every drop in share price makes this effect worse and draws us closer to being over 1,000,000,000, which would surely disqualify us for an uplisting.
I think the recent purchase is great, but we either spent cash (that we don't have a ton of) or shares (that we don't have a ton of) to get it... which means we're edging ever closer to that 1b fully diluted mark. If we can hold above a penny we're good, but I believe a close below a penny starts the process all over again anyway and we'd need to wait another 30 days to apply again if we're able to recover.
Ultimately, an uplist isn't what's going to make or break us here... but I do see some urgency in stopping the price drop since we have these potentially very dilutive events coming up with these conversions... we had good volume the other day, but I see difficulty holding at a penny if they dump all 40 million shares over the next few weeks.
Anyway, good things on the horizon but I hope it happens fast so that we're still in a solid place financially when we get there and avoid the spiral that we saw two years ago around this time.
Again, I am positive about this company.. Holding mine and hoping to buy more soon, just hate these discounted stock things and it's hard to feel great with those sitting out there.
Thanks for any comments!
disagree. If he planned on avoiding judgment, why put in all the effort to fight it. Doesn't add up. Good night!
If Billy doesn't care, he sure didn't show it by that big response.
I'm sure he paid his lawyers $ upon $ to file on his behalf.
His response debunks everything about your theory IMO.
well, wherever he is, he was easy enough to find and serve papers.
Nice write up though
He can delay all he wants. By doing so he validates the legitimacy of our case.
I'd love to get paid, don't get me wrong... but as long as his hands aren't on the settlement money... a delay hurts him more than it hurts us.
I get that people want to load up for under a penny, but I just don't think anyone wants to sell at these prices. Most big holders are comfortably in the green and so there's no pressure on them.
Look forward to closing some deals.
Does it concern you that, per filings, BIlly seems to be refusing to pay Dierdre the money that he owes her?
I know you are confident that he will do what he said... but as others have mentioned, that's a shaky perspective to hold in light of what he is trying to do regarding money he clearly owes.
Does Billy's recent filing change your opinion at all?
agree, thanks for posting. UL would be icing on the cake.
Nick knows how to get things done, and I believe the RI mess was beyond his control.
Hope to see some things come to fruition and soon. I think he can made it happen.
They have given an end of year timeline for a couple of things so I'm good waiting for that. They had said Q2 shareholders meeting but with Med Legal issues... I'm fine with a delay there.
I would love more info... but no one is forcimg me to invest here.
All in all, if NIck comes through, we'll all be very happy. An update here or there isn't going to change that.
What window is going to close soon? The UL window??
The UL process has taken longer than I think we all expected. I have asked a few times on Twitter and not gotten anything... Not complaining.. I guess that's a good thing and I'm going to take the optimistic view that they're not saying anything because this is in process... but I hope we hear soon.
Isn't the UL process usually quicker than what we're seeing here?
Just recording my agreement with you for the record here.
I don't believe it was in minority holders interest to let filings lapse. Also, in the TRO Dierdre alleges that company funds were used for personal things. That is not something one would want their director doing.
Until those allegations are proven false.. let's just get a board of people aligned with the interests of minority shareholders who aren't accused of the things Billy is accused of.
I play a lot of chess myself.. I'm 1750 or so at chess.com... Nothing special, and certainly not given the amount of time I've played over the years.
If you want a fun game... Try crazy house. I started that a few months back and haven't played a game of chess since. we should play sometime!
Love to see hospital stuff picking up. Let's go!!!!
I agree with everything you said. If and when this ever gets big, Gary gets 95% of the credit for it. He's a solid person, and seems like a really nice guy.
The Podcast was bad.... not sure if it was Gary's fault or someone else's, it just was. It was also bad to miss deadlines. Both of those things are minor if you are making money. If Gary can turn this thing around and deliver.. I'd love for him to stay around.. either in CEO or Advisory role. .. with one caveat..... no more podcasts!!
Hoping for brighter days ahead, and today is a good start!
I too am feeling joy.... mostly because my wife just brought home some chick fil-a for me... but also because we're on a good path here.]
Have a great week!
Nice to see things turning around here. Hopefully the momentum holds.
Q3 ends here in a couple of days. Are we thinking they'll file timely?
I'd hope so, but a lot of subsequent events this quarter, like a debt payoff in mid-sept... Seems like those always add a few days to what we're doing.
My guess is that we'll need to use the 'extension' but that we'll get it filed before the extension is up, maybe the last day.
We'll see.
Either way, nice to see some green here. It was time.
perhaps funds were paid into an escrow account, and can't be accessed until all issues are resolved.
Sure hope so.. Brett has a big investment to protect and it would make sense to prevent this toxic debt from getting out of hand.
I do find it interesting that the payment on sept. 16th was right before the one loan could convert to shares... so I wonder if that's the one they paid off before the 180 day conversion feature camy alive. I don't love prepayment penalties, but I like dilution even less.
Really excited to get to the point where we're making a profit and don't have to borrow unless we're expanding.
Billy has about as much chance of winning this thing as Oklahoma does of beating Bama in the championship game this year :)
Seriously though.. he's backed himself into a corner and appears to have bothered people on all sides.
THis is an odd contingency... but what ifhe has to declare bankruptcy as this thing drags out??? I guess he could eventually lose owneship of his UOIP shares. I'd bet a bank would be quick to settle this thing and take their funds.
WIll be interesting to see his response on October 3. People who state they've been talking to him all along say he intends to get our info, pay us, etc. If that is the case, then we should know here in a week or so.
I will be interested to hear JBBB's thoughts on the matter when the defense files a response.
Interesting times around here!
Too much toxic lending!!! I was hoping the one being converted right now would be all. Turns out there is a few hundred thousand dollars worth after that. At least we got the financials out, hopefully there's a nice little recovery in October since those prices determine how many shares people get when they convert. Looks like the float is going to be over 800,000,000 once these conversions happen if price stays where it is. Not the end of the world, but not ideal. Thank goodness for Brett Rosen. Had he never gotten involved, we'd be sunk, as opposed to the reasonably good spot we're in.
I think we have potential to turn the corner and unlike two years ago where we went reverse-parabolic on the toxic debt, I think there's a good shot of holding above a penny and gaining now that we're current and as success starts to come from the wells. If we can hold above a penny for the rest of the year and not get into a big mess, we can come out the other side.
I don't expect any big gains for a while, not with potentially toxic debt hanging out there, but that's ok. We really need to make some $ and be done with that stuff. The revenue looked reasonable and hope to see more in Q3. Furthermore, subsequent events looked really good... For the last month or two we haven't been taking on more debt, but rather settling what was out there, including a payoff 8 days ago. That tells me money is flowing in, which is an awesome sign.
So... Glad this got done. Overall mildly positive albeit frustrated by the new toxic loans. Seems like we're headed in a good direction now and I hope that keeps up, and I think we see mild but positive price movement in weeks ahead. Holding my shares for now. We shall see.
___________________________
x) On March 26, 2021, the Company entered into a convertible promissory note with a non-related party for $83,000, of which $3,000 was an original issue discount resulting in cash proceeds to the Company of $80,000. The note is due on March 24, 2022 and bears interest on the unpaid principal balance at a rate of 12% per annum. Stringent pre-payment terms apply (from 15% to 40%, dependent upon the timeframe of repayment during the note's term) and any part of the note which is not paid when due shall bear interest at the rate of 22% per annum from the due date until paid. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price equal to 61% of the lowest trading price during the 15-trading day period prior to the conversion date. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. As the note is not convertible until 180 days following issuance, no derivative liability was recognized as of June 30, 2021.
y) On April 5, 2021, the Company entered into a convertible promissory note with a non-related party for $43,000, of which $3,000 was an original issue discount resulting in cash proceeds to the Company of $40,000. The note is due on April 5, 2022 and bears interest on the unpaid principal balance at a rate of 12% per annum. Stringent pre-payment terms apply (from 15% to 40%, dependent upon the timeframe of repayment during the note's term) and any part of the note which is not paid when due shall bear interest at the rate of 22% per annum from the due date until paid. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price equal to 61% of the lowest trading price during the 15-trading day period prior to the conversion date. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. As the note is not convertible until 180 days following issuance, no derivative liability was recognized as of June 30, 2021.
z) On April 14, 2021, the Company entered into a convertible promissory note with a non-related party for $200,000. The note is due on April 14, 2022 and bears interest on the unpaid principal balance at a rate of 5% per annum. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price of $0.10. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. As the note is not convertible until 180 days following issuance, no derivative liability was recognized as of June 30, 2021.
aa) On May 3, 2021, the Company entered into a convertible promissory note with a non-related party for $128,000, of which $3,000 was an original issue discount resulting in cash proceeds to the Company of $125,000. The note is due on May 3, 2022 and bears interest on the unpaid principal balance at a rate of 12% per annum. Stringent pre-payment terms apply (from 15% to 40%, dependent upon the timeframe of repayment during the note's term) and any part of the note which is not paid when due shall bear interest at the rate of 22% per annum from the due date until paid. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price equal to 61% of the lowest trading price during the 15-trading day period prior to the conversion date. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. As the note is not convertible until 180 days following issuance, no derivative liability was recognized as of June 30, 2021.
Oh dear. How can you stand all the bells?
Who is your team Scruffer?