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This should NOT have taken more than a week. It's been nearly a month. I have seen reverse splits and ticker changes by other much larger institutions that completed in 3 days. Nobody should have their money tied up this long. Shareholders are being held hostage. How can you have such a HUGE disparity between ASK and BID prices? I've watched this company hem and haw and stall for over a year. So many ludicrous schemes. I'm dumping all of my shares as soon as it doesn't cost me 80% to do so.
I can't recall the last time I read a sensible comment from anyone (pretending to be in-the-know) about this company or its stock. The last few posts from a "straight" poster here were sprinkled with terms such as "odd lots," "tape screw-up," and "hic-ups." This is one of those, "don't look behind the curtain" moments. You know it's bad, when the theater has just been appraised and thieves are running out the back door with anything not nailed down while still selling tickets at the front door. My few thousand shares are now nearly worthless. I'm curious to see if this stock can sink any lower. It's a tragic comedy, and a blatant sham.
Down 70.20%. Yeah, looking good—NOT. This stock remains a hot mess. This outfit is perfect for Halloween. One big charade.
My TD Ameritrade account just charged $38.00 fee for the reverse split. This stock dollar value decrease by about 25%. I had kept a few shares: 28,100. Those shares became 80 shares. The dire predictions were correct. A good chuck of cash was sucked up. I'm glad I sold most of my position weeks ago. I lost about $300 in this split. I'm sure others must have lost much more. This is just like what happened with Bank of Greece. Feels like a total scam.
New ticker is FLCRD. Opening stock price after the split is $10.50. Nothing is happening on trading platform ETrade as of this posting.
It was 18.6 for 30 seconds. I'm seeing a new trend though. I've made some money off of this and I still have skin in the game. We'll see what they can do.
I did read the filing and release. So, in using the phrases, "are expected to" and "if" means they may or may not implement the changes, they just can whenever they want. They can split whenever it's convenient. They didn't get a big win out of the reverse merger with Galaxy, so now it's another tack with the KLIK proposed merger. This is great for swing trading (until the bottom falls out). I'm not waiting for that.
Where is the Reverse Split that was due today? Did I miss something? Are they waiting until they sell more shares? And today, suddenly there's another merger pending? Is this another story to pump up the stock? What about the other merger, the reverse merger with Galaxy Next Generation? Is there going to be a new stock symbol? This looks like a shell game. How will FLCR/Galaxy buy KLIK? With what money? I'm baffled.
I, too, would like to know about the 11%. Furthermore, aside from the Reverse Split, this company is issuing over 4 Billion new shares as explained in their Galaxy Next Generation shareholder update (July 17, 2018). This represents a huge dilution. I recently read the following via Wikipedia: "...A share dilution scam happens when a company, typically traded in unregulated markets such as the OTC Bulletin Board and the Pink Sheets, repeatedly issues a massive number of shares into the market (using follow-on offerings) for no particular reason, considerably devaluing share prices until they become almost worthless, causing huge losses to shareholders.
Then, after share prices are at or near the minimum price a stock can trade and the share float has increased to an unsustainable level, those fraudulent companies tend to reverse split and continue repeating the same scheme..." To me, that seems to describe what FLCR is doing here.
The Bank of Greece did this to "raise capital" in 2015 and disastrously fleeced their shareholders. Stock value, overnight, went to 16% of its original worth. People lost $Millions. They eventually had to take down their U.S. OTC stock because the U.S. Bank, NY Mellon, decided not to continue handling their business.
This is my math. Correct me if I'm wrong, please. Based on 1M shares:
Split is 350/1. 1,000,000 shares ÷ 350 = 2,857.14 shares. Following that, at current price of $.0095 x 1,000,000 shares = $9,500.00, then $9,500.00 ÷ 2,857.14 shares = $3.325 per share in this example. This would substantiate the stated goal of a more attractive appearing price per share for potential investors.
Now is the time to sell. If form follows history, the steady decline has begun. FLCR will continue downhill for 6 months. Then there will be another outrageous pump story that won't pan out. More people will buy. More people will lose. Reminds me of Bank of Greece that also milked shareholders for every penny they could squeeze out of them.
Case in point: FLCR Ask price is .011. Bid is .0043. Your stock is being held hostage at two-and-a-half times lower the price. As of 5PM EDT.
This is stock is pumped with unsubstantiated stories. Just in the last year they boasted of proposed theater renovations that never happened. Now there's this pointless reverse merger with a company that apparently has no product, only future hopes. If you buy this stock and try to sell it, the price drops the second you send your order and it can't be completed. You have to lower your bid and lose your original paid price. It's a black hole. Save yourself from throwing away cash. Research before you invest. That's what Google is for. When you find nothing concrete to substantiate the claims here, it makes NO SENSE to buy.
Please show us the product, or a prototype. Show us real people using the product. Anyone can put out a press release. It doesn't mean it's true.
This "press release" is a nothing burger. There is a lengthy disclaimer that basically says nothing in the press release may be materially true at this time. They repeatedly use the term, "forward looking." The following is copied from the release:
Forward-Looking Statements
Certain statements contained in this press release are forward-looking statements and are based on future expectations, plans and prospects for FLCR's business and operations and involve a number of risks and uncertainties. FLCR's forward-looking statements in this report are made as of the date hereof and FLCR disclaims any duty to supplement, update or revise such statements on a going forward basis, whether as a result of subsequent developments, change, expectations or otherwise. In connection with the "safe harbour" provision of the Private Securities Litigation Reform Act of 1995 FLCR is identifying certain forward-looking information regarding, among other things, the merger of GALAXY into GMS, which is a wholly owned subsidiary of FLCR. Actual events or results may differ materially from those contained in these forward-looking statements.
What's key here is this tidbit: "...results may differ materially..."
Sketchy, sketchy, sketchy. The "merger" documented is a 'REVERSE' Merger. Neither company has any money. Galaxy Next Generation Inc. appears to be nothing but a website with no content, just an image of an astronaut floating in space. There are no images of the product itself, or anyone actually using the product. Everything looks like a fairy tale. I would expect something more concrete. No wonder this stock is sinking like a stone.
Show me the money in this merger. How, in your humble opinion, will this merger with a strip mall/video game company bring value to this stock? The merging company has no public offering. I don't see any financials. How is this NOT just another ploy to pump up the stock?
I completely agree. The downward slide will resume shortly.
Galaxy looks like small potatoes. Is this another dying business going to hospice at Full Circle?
Thanks for pointing out the item in news. I mistook the bold print to be a "heading" so I never clicked on it. My bad. Initial researching on Galaxy reveals obscurity and inactivity. Why no boasts about financials? They report having 22 clients that are elementary schools for K-12? Why so few? Are the clients students? Who buys their product and for what purpose? It appears to be gaming by e-mail. I'm not into gaming, but I wouldn't do by email, that's for sure. Weird. Very, very weird.
Nothing About Merger in 8k
I don't see anything about a merger in the "news"/"8k". Please specify exactly where is any merger information. I would like to see it with my own eyes. All I've seen are many unsupported "pump" posts here. Also, FYI, the Yelp reviews on this theater are some of the worst I've seen on Yelp. Full Circle is in the red, according to recent published financials. Who would merge with this company? Their Mission Statement reads like it's a death hospice for failing businesses. What the heck is that about anyway? How can they ever win? Why am I reminded of the horror movie, "The Shining" ?
The last several messages offer nothing concrete about new business direction. I've bought and sold this stock over the last 6 months. You get locked into a price and the gap between bid and ask becomes too large to avoid losing money if you sell. This company hasn't been producing for months. Their last earnings report was abysmal. Watch, the price will continue to go down. It only takes the purchase of a few shares for it to bump up, then it's only temporary. Don't waste your time.