Completely doomed company. Nobody touching it! More vol pre-market than trading.

Funny to read the messages from 2 years ago. Same price, sme story. Deals in the making, building in silence. Partnership coming soon. Yeah 24 month later nothing happend. Do not waste your money, this is a dead horse!

yeah, pretty awful.
Long term chart a mess. 4 pump and dumps with lower and lower spikes. now flatline. Everybody is so excited that the constant buying leads to falling prices. Every child knows something is not adding up.

Prices go down when people sell, people sell, when company is shit.

mick, old pump and dumper. Now 10% lower. When is the pump starting or do we make 1000% from 20 cents?

If all is so great why is revenue down to 5 million in the 3 month to June 2019 compared to 14 million same time frame 2018?

You have 6 customers with a revenue over 100k?
Every car dealership has more in a month!

Thank you,

you did not answer the question who received the 1 million shares worth about 2 million US$ at the current stock price for around 9500 US$?

That means that for exampe 10 people for an investment of 950 US$ each became millionaires at a stock price of 10 US$.

Or 20 people at a price of 20 US$ not to talk about stock prices of around 500 US$

@Phunware would you please comment on your 10K
Page 16

"8. Stockholders’ Equity

Common Stock

Total common stock authorized to be issued as of March 31, 2019 was 1,000,000,000, with a par value of $0.0001 per share...."

Why would you (allow to) authorize 1 billion shares:
If for whatever (financing, dealmaking) reasons those would be issued at a stockprice of 2 US$ the valuation of the company would be 2 billion US$.

"During fiscal year 2018, the Company completed several closings of stock financings resulting in the issuance of 1,085,096 shares for aggregate cash proceeds of $9,565, net of issuance costs."

Who got the 1 million shares at a cost of 0,0088 US$ per share?

Why are directors, CEO and insiders not purchasing stock on the open market at these dirt cheap prices?

Thanks

Then you should appreciate the few posters that try to find constructive information rather than just pushing a stock.

But you are right, wastes energy from my site. People do not want to hear negative things nowadays but prefer to live in their self created filterbubble.

I leave you all with a tip:

Buy OSTK if you want to have a shot at the cryptomarket from a stock perspective

Good luck with your investments and bye bye

If you are afraid of every critial comment (especially if it is about 2 year old news) then your confidence cannot be really high.

If that company will grow over time and produce good news in the near future, then I will not stop it by pointing out negative facts, it might even help PHUN to better their way of PR.

Explain to me why you as a person that is optimistic about the future of PHUN would like to be in an environment, where everybody shares good news, everybody is telling everybody else what a fantastic company that is and how all of you are becoming rich by holding shares of PHUN.

Why would anybody be happy if a public listed company re-releases information that is 2 years old?

Try to sell news from 2017 from Apple as additional DD on the Apple board.
Do not get me wrong, nothing against DD, especially if there is limited news out there.

But this info is presented by the CEO on a private platform and it is just old information.

This is not the lottery board but an stock market investment board.

If you are in for a quick buck and want that pushed by any means, buy Bitcoin, much more volatility there.

So they are presenting a story as news, that they used in 2017 in almost the same wording?

And why -if that is "news"- it is not presented as PR to all investors?

Is there a difference between investors that have

-Twitter and Linkedin accounts
-only Twitter accounts
-no accounts?

Are you referring to the news of 2017?

https://www.phunware.com/blog/perfectly-aligned-astrology-zone/

This is a 5 year old news and shows in my opinion exactly PHUNs problem.

"The company is responsible for multiscreen infrastructure, software and application development services for an impressive list of top-tier customers including E! Entertainment Television, NBC Sports, WWE, NASCAR, CBS, Qualcomm, Edmunds, Jawbone, HomeAway, Turner, UHealth, Transamerica, King, Warner Brothers, AT&T and Adobe amongst many others."

This is the repeating marketing narrative for 5 years including the same names.
What has happened in 5 years development? 30 million yearly revenue?
Every of the named companys would spend a way bigger number per month without blinking an eye if there would be something to pay for.

"Founded in 2009, and headquartered in Austin, Phunware has achieved dramatic growth since inception and closed 2013 with revenues of $22.1M. The company currently supports more than 1 trillion annual transactions on its “multiscreen cloud platform” across nearly 190 countries and 10 languages."

So in 6 years since 2013 revenue climbed from 22 million to 32 million.
The number of mobile transactions in the size of trillions and billions is still the same.
What did you do in 6 years till the cryypto-story "saved" you?

Now the Phuncoin is added and all those names are now mixed into the crypto phantasy.
Which is fair enough, but lets face it, this is a mobile app company with a small revenue stream resulting on marginal projects in relation to the size of the named company.

90% of the study cases on the website are years old, but as an investor I do not need study cases but paid constant revenue generating projects.

It is nice to have once developed an app that shows the visitors of a WWE event were the toilets and food kiosks are or when a signing hrs starts, but I am not sure if naming the WWE then 5 years later as a "partner" is really more than marketing talk, if after that event not a single paid contract followed.

Look for the last PHUN news published were a company signed a contract of repeated payments for services or licensing a patent for more than a year.

Look here:
https://www.phunware.com/tag/phunware-in-the-news/

3 promotional videos and then we are back in 2014 and older.
IMO this is a pure crypto based marketing stunt of a company that could not create a significant product in 9 years.

Thank you!

So let me just make sure I understand it correctly.
Those 6B/1B transactions/devices are for now anonymous?

Or to specify, you have 1 billion active customers that provided PHUN with a full data set that you will be able to market?

And are then those accounts able to receive "payments" for their data once the coin is active?

Or is it only that new generated "contacts" through the SDK will be fully "known data sets" and able to receive rewards for their data delivery?

Ok, I understand.

When do you plan to "develop" the coin and what is the timeline till the coin can be used actively to collect data?
Thanks

166.000 US$ for the Phuncoin is not really exciting given the fact that the whole who is who is apparently excited about the coin.

Maybe it is because it is limited to the US, but the 250k or even 500k mark would have been a much nicer figure.

There might be still people holding stock they got for exercising their warrants cashless.
If your average cost of the warrant per share was lets say 5 US$ every pop gives you a nice opportunity to sell for a nice profit.
At some point the profit is not big enough and selling stops.

Additionally some traders were stuck with the position they bought on the pop of April 11/12, they might have sold for breakeven/small loss today.

Please do not take it the wrong way, I may be a bit paranoid here, but through my adventures in OTC land I am always acting like "better safe than sorry"

May I open a line of connection that concerns me a bit

So
Prokopios (Akis) Tsirigakis is in the management of Stellar that turned into Phunware and is now as well a director of Phunware.

So far so good.

This is what we know about Mr Tsirigakis

"Mr. Tsirigakis served as a director of Ocean Rig UDW Inc. (Nasdaq: ORIG)."

For ORIG please read here if easter weekend is boring:

https://investorshub.advfn.com/Ocean-Rig-UDW-Inc-ORIG-29820/

Especially this part is interesting:

"The company is based in Nicosia, Cyprus. Ocean Rig UDW Inc. is a subsidiary of DryShips Inc (DRYS)

So now Dryships is a special case of pump and dump that most of small cap investors should know:

DRYS was the company skyrocketing 1500% in a week due to a extremly low float to then getting dilluted and shorted into the dillution, sounds familiar?


https://www.thestreet.com/story/13894736/1/dryships-soars-1-800-amid-epic-short-squeeze.html

https://seekingalpha.com/article/4026064-dryships-dilution-pushing-zero

I am sorry if I am too critical and I do not want to imply anything that is not there, but....I do not like the smell of it...

Yes but in this case S1 deadline was violated.
So cashless exercise was effectively happening.
Either on T as it happended through naked shorting or on T+2 after effectively receiving the shares.
The sale of those shares could not have been prevented, both happened at/after the missed deadline.

Ok, I see.
Fair enough!

A happy easter to you as well.
Family and friends come way before money and business!

And to mae it clear:
I do not directly blame representatives of PHUN.
You have been taken advantage of as have been the retail investors.
The problem is only for the professionals you will have to recover the trust.


And I agree with you on T+2

But for the sake of argument, what would have been different for the retail investor.

The price per share lets say 26 US$ would have gone up or down a bit depending maybe on the whole market.
Then 2 days later when legally without question T+2 would have been honored selling would have started in the same amount as shorting.
So for the retail investors the path down to the break even point of the cashless exercised warrant holders (around 4.50 - 5.50 US$?) would have been the same.

The selling could not have been prevented.

The guys that set up STELLAR ACQUISITION III INC for the purpose of the indirect NASDAQ IPO are the ones that were in the SPAC trust, correct?

And who would that be if not our friends from southern Europe?

http://stellaracquisition.com/management/

@Phunware

That is exactly supporting what I wrote here about 2 weeks ago.

The shares that were sold (naked) were sold by the broker in anticipation of the actual delivery through the exercised warrants.

I have no clue if brokers were allowed to sell those shares naked, but that is something FINRA has to figure out.

As I said before I can see why a broker would do it, if he already knows that the shorting party will recieve the shares in the next days technically and legally is already in possession through the date the exercise is effective.

The fact that the fonds holding the warrants came from the SPAC which is the entity that set up the whole construction makes it especially sad (as obvoiusly those investors have good connections to the brokers and took maximum advantace being able to short at a relativly high price)

FINRA might fine those involved. The retail investor will not benefit.
He was punished by the decline in stock price.
By the dillution happening in the process.
By the fact that the company lost the money it was expecting in return for exercising the warrants and therefore worse cash holdings of the company in the coming quarters.

It is just too small and it seems as if there is no interest at all from Wallstreet.
That is the reason why the spike was short lived and the days after there was no volumen for most of the time.
Only investors that saw the large increase paired with the momentum traders on stocktwits.

Retail traders only.

Because of this the 2.9 million share dillution hurts and the dillution in June will even hurt more. Can you imagine how this trades with this demand and a 20 million float?

I can see you are talking to the CEO on Twitter, but there real questions "Which funds from the SPAC sold?" are not answered.
Instead we are presented another theoretical article/video how the coin/app could work if it only would exist.

Stop that short nonsense!

http://shortsqueeze.com/?symbol=phun&submit=Short+Quote%E2%84%A2


Shares Short 171.000
Shares Float 2.9 million

Two weeks ago you were telling everybody on twitter that we had a low float of 144.000 shares.

Source:

2) The public float for Phunware through yesterday was only ~ 144K. It isn’t terribly hard to do basic math, especially in light of 7 digit trading volume over several days. $phun $phunw

— Alan Knitowski ∞/21M (@alanknit) April 4, 2019

The dillution from 144.000 shares to 2.9 million shares is the reason why the stock went down and not the 171k shorted shares.

PHUN did not even get money for the dilluted shares, because thoses shares had to be deliverd cashless.
Most of them had an exercise price (including the costs for the warrents at around 4.50 US$) and that is the reason why there was (is?) selling pressure in every upmove.

This mistake (letting the warrants be exercised cashless for missing the deadline) is not only hurting the investors that bought the shares for IPO price of 10 US$ and those that bought on the way up to 550 US$ but also your investors that sit on a lot of warrants exercisable at 11.50 which are under lockup till June.

From June on another 25 million shares plus 10 million warrants come out of lockup and will
a) dillute the float further
b) put a price cap at around 13-14 US$ where investors that (need to) exercise warrants will book around 20% profit.

You are spreading the typical OTC pump and dump narrative:

Lots of story PR without actual substance.
You do not have to show the 10th video of how in theory the coin could work. It is almost 12 month now that you introduced the coin idea. Get the system working!!

A new customer/commercial cooperation would be nice!

Shorts (175k shares short!!) are blamed for the decline of the price when your own mistake cost a 2.9 million share dillution.

The thing is, you most probably gave away your data to the big companies for free already.

Facebook, Google, Amazon ...
These companies will not rebuild their product to implement the coin of an outside company to allow them to make money with the data they already got for free.

So new merchants or new community companies might include it but the ones that can use your data for free will keep doing so (or develop their own coins, as FB is said to do if you believe the rumors.

And the system will only be build, so till now nobody even knows how and if it will work.

You pay for an idea for now, which is fine if you think it will work out in the long term.
But for an idea it is already priced quite high, there is a lot of the fantasy priced in.

Definitely, I heard internally they already plan the takeover of Apple and FB paying with shares.

11 patents are from 2014 or earlier.
If you cannot market them in 5 years only because you get listed at the NASDAQ that makes a difference? I doubt it.

A patent in the mobile phone space from 5 years ago that cannot make other companies pay I do not know...

But then if someone thinks PHUN is a great investment at this price. Fair enough, good luck!

Trying to pump it if you have massive selling into any increase after shallow "old" news does not sound good.

Yes, you are right.
Could not find it on the phuncoin.com page though.
It is only if you go to the "invest" link that it is to be found.

Maybe would make sense to put it on the coin homepage as well.

He is talking how in theory all that should work and I agree with him there.

But this company is operating for 9 years now.

They do not have a app where they are collecting data like facebook (although they always try to create the impression they collect data of 1 billion devices, this is if at all anonymous data).

They are presenting the phuncoin as the next big thing.
This is what they write in their annual report from 20th march 2019

"The PhunCoin Ecosystem is currently in the development stage and is intended to enhance and augment our current mobile application platform...

...we have decided to initially use the Stellar blockchain technology for the PhunCoin Ecosystem, although we may choose to use a different blockchain technology in the future."

There is not even a whitepaper.
The interview he is pointing to on twitter is from June 2018.
That is nothing happened in almost a year.

It is all a theoretical explanation on how a coin could be used in mobile, nothing is actually done.

You are paying 10 times sales for a company without profitable business operating for 9 years telling the same story for 9 years and now added cryptocoins in a theoretical narrative to it.


Lets make a small comparison

PHUN
Market cap 300 million
Sales 30 million US$
Price/Sale ratio 10
Business: mobile app development plus plan of a coin


OSTK
Market cap 520 million
Sales 1.82 billion(!!) US$
Price/Sale ratio 0.29
Business: Online retailer plus crypto incubator medici
https://www.mediciventures.com/companies with (part) ownership of 20(!) cryptostartups
plus tzero crypto trading platform plus operating and regulated coin


So do you think there is a discrepancy in the valuation?

Yes if you are one of those that bought PHUN shares only in the last 14 days.
All others are not happy even with the price increase to 8 US$ as they are all massively down!

First of all, if there is a rule that is stating, "You cannot only post at one board of ihub", pls direct me to it.
Else please let me decide where I would like to contribute and where not.

To my knowledge most companies that are entering a phase where they are listed at a stock exchange are expanding business and that most of the times leads to increasing the staff count.

A company that is losing money for 9 years and has a revenue of 30 million saying that their business is increasing but makes saving money by letting staff go their priority is a red flag for me.

All big companies that deal or want to deal in the crypto-space are hiring staff like crazy expanding their business.

I is simple.

Some of my screeners alerted me to the huge drop.
So I thought I read about whats wrong.
Nothing to be found here, so I was doing my own research and presented it here.

But that is apparently not good, because we all should be happy with a company losing 97% from its high and 20% from its "IPO"

Where am I a risk? If the company is great, I will not stop it right?
If it is bad business, I might have saved some people from losing money.

In the end I am only encouraging investors to check for facts before following mood swings in a public forum.

Not sure why you would like investors to be shallow instead of trying to look deeper.

You should be glad that this board gets some opinion based on facts.
Like I said I am always willing to read other people to provide a reasonable valuation of PHUN.

I am not stuck to my opinion but I could not find anybody to provide it.

I am trading OTC stocks since the late 90s, if you are old enough you might remember stocks that caused huge discussions like:
Hartcourt (HRTC), Diatect (DTCT), Kanakaris (KKRS)

Since these times I am allergic to just stories (that were supported by filings as well) without real business.

If you want the board(s) only to be places to make sure everybody feels comfortable after investing, fine.

I am sure some guys that bought PHUN for over 35 US$ would have loved some criticism before losing their money.

Not sure why criticism on facts that everybody can respond to is seen negative in our world.

If it does not change business:

1) why were they working there till now?
2) I thought business was increasing. So now they need less people to do an increasing workload?

Does not really add up, but I am sure your skills in valuating companies is way better than mine is.

Yes reducing 15% of your workforce directly after going public sounds like the business is booming, isn't it.

Please if someone can present me any business case of PHUN, I would be happy.

Which app do you have to use to give them the information they claim they get?

They say they have 1 billion mobile devices they collect data from monthly.

With a revenue of 30 million per year, you can calculate how much a single device is creating in revenue.

1 bilion devices is the total population of North America plus Europe.

If they would be used by Facebook or Apple, fine but without any blockbuster app how do you get these numbers and if they now want to give people the ability to earn money through the coin (which is not developed by now but already sold to the investors, which means PHUN will not make money through the coin offering) how do they connect a app of a not owned company to make you give PHUN the data.

Everything they present is case studys and 2 contracts that make 50% of the revenue, both only stated for the business year ending in 2017(!!) in the 2018 full year report. What happened to them in 2018?

I stay with that.
Look, I understand a good trade and by no doubt that was a nice dead cat bounce and all that traded it, congratulations!

But it still will reach 1US$ before 15 US$

This company is telling a story and too many (new) investors pay money to be entertained by a story than earning money.

This company could not earn money for 9 years in their app business.

Now they throw in the buzzword Crypto (althou they do not even have a coin offering) and all is well because they managed to get listed on the NASDAQ by a expensive merger strategy.

The highlights are things like the WWE app, which was a case study for Wrestlemania 30 which took place in 2014 and for 5 years they could not get a follow up contract.

Ask yourself and friends, who is running a PHUN app on their phones and who gave them personal information that they want to commercialize.

It is a startup of which you have literally hundreds in silicon valley if you only know the surface of what is going on there.

They tell you they have a great platform that has the ability to market your personal mobility information.

Just check out their own apps:
https://itunes.apple.com/ca/developer/phunware-inc/id328865603#see-all/i-phone-apps

Just click on some of them to get the reviews.

Impressive, isnt it.

I really do not understand, why people that could cash in 100% on their trade do not take that money and move on to the next trade instead of marrying this company.

In June you have all the shares coming off restrictions an that is when investors will make money, millions of shares coming to the market. Over 11.50 US$/9.25 US$ all the warrants are profitable then as well, another millions converted.

PHUN will not see 15US$ in the next 12 month.

In all fairness, I do not think it is the companies fault.
I am not sure if the deadline was way off from what a normal contract would have included.

If it was set in a too short time frame, there might be someone that knew about that and took advantage (but that would not have been the guys running PHUN but the ones setting up the construct)

That the shutdown would happen which in my opinion was the main reason for missing the deadline nobody could expect.

There is no reason to be angry as well as the investors can calculate the dilution and the lost proceedings of the exchanged warrants for money.
So the reflection will be in the stock price one way or the other.

The company is missing the nice PR effect when they would have announced the 30 million extra revenue, next to the fact that the money actually is missing to grow the business.

But thats life, bad things happen and how people see you will not be determined by the bad things that happen but how you react to them.

I am pretty sure the company can make its way if they do the right decisions and I might be a buyer of PHUN stock at one day, but not now.
In my opinion the company is over valued at the moment.
But then who am I and what do I know compared to the many people that are way smarter than I am.

Over and out...

If you think that is imagination you maybe should try to figure out how short selling works before you lose money in the stock market.

Explain it to me

The 2.9 million share were given to the people that had the warrants for free.

Who sold millions of shares and when?
How do you see that?

The only ones that shorted were the once knowing they would get the shares for free.
No risk to to short at all, they never had any risk.
Thats why that situation was so beautiful for them.

Why would anybody short at around 5 US$ when the share price was 550 on the top. Or who that shorted on the way would not have already covered?

I am not short,I am not suicidal. You fall for a great sory about short villains an the brave men saving the world by buying a overvalued company at 5 awarded to riches that apparently only you see.
If wallstreet would think PHUN is undervalued, there would not have been a 8.3% decline but a nice increase.