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Shares to noteholders
Hilarious! It's an empty shell with a potential for a merger in a couple months or a couple years, anyone who expects more than that is almost as crazy as those who spend time bashing an empty shell.
Duh it's a lotto, put a small amount in and forget about it or don't. Much more interesting stocks to talk about.
No, that ended when the old CEO left, they were moving into CBD products, but that also failed as they had ZERO revenue last quarter. It's basically a debt riddled shell right now with 4 outstanding lawsuits by toxic lenders who weren't paid.
You used to be a rational guy, you are the one who made me aware of FLES 3years ago.
They have had a rough patch and prior to this most recent RS they had only 15M shares in the OS since the last RS and the only reasons it was that high is they converted all their preferred shares to commons just prior to the most recent RS.
They were trading at .60 - .75 for moths after years of minimal dilution. Preferred share conversion wasn't technically dilution because they have been there all along.
Now you think they converted all their preferred shares to commons so they can dilute their own shares with the rest of the shareholders.
With a .70 share price and a 3M share float, they had no reason to RS other than to achieve $4 for 30 trading days for NASDAQ up list.
They are working with MAXIM group LLC, who has been involved in billions of dollars worth of capital raises and IPOs.
You are better than this man! I know it.
If that's what you think you haven't been paying attention for the last 2 years. You back just to reminisce?
Be careful of the VRUS pump the last few days, Noteholders are currently diluting to the tune of 2M shares per $1000 in debt and all notes are in default.
Just a friendly warning if you don't have experience flipping diluting stocks, I would stay away.
Company has 0 revenue and mounds of debt and the toxic death spiral has begun. Don't be fooled by the low OS which recently increased by 57% in a month. OS should be over 1B by the end of summer.
If you play it right you might make money, but it isn't worth the risk in my opinion, unless you are pretty savvy with the situation that it is in.
GLTA
Nope, just know this is a garbage stock and I hate paid promo pumpers who create bag holders of the peeps they target. $VRUS is a failed diluting pig whose dilution will drive this back to .0001 and another RS. A few will get lucky to buy before the promo pumps and sell for a profit, but many more will be stuck with losses or heavy bags. Very hard and expensive to short a stock like this anyway.
This pump pattern is getting predictable. May hold some cash to flip a few shares for the next time. Back to trips by tomorrow. Remember to sell while it is up. If you don't the toxic noteholders thank you for your donation.
Also plenty of other low float shells with no debt that have a better chance of running then this diluting pig. That SS you like isn't the real SS, just wait until the next update. I do hope though that you make those shorts you think are about to get squeezed squeal like a pig!
Yeah good luck! This is VRUS, the toxic death spiral has already begun.
You are forgetting they have been diluting 10M shares a day minimum the last 2-3 weeks. Last update the OS increased by 57% Next update the I expect 100%+ increase. I expect the OS to be back over 1B shares by end of the summer. There will be a few mini runs in the meantime if you can time it right, but this will never see a penny again before another RS let alone much higher than .0015.
All just my opinion, but all their debt is in default and can convert at 2M shares per $1000 in debt, if it dips much lower it will be worse. Also the shorting is easy to cover when they naked short it before they receive converted shares and cover with the converted shares once they receive them.
It's how the game is played and VRUS is the best at that game.
He honestly bit off more than he could chew. Anshu scammed him big time. Probably sold him on using the ticker to grow his headshop business. Problem is he isn't as slick and slimy as Anshu.
VRUS looks to hit trips today! Why do you ask, with such a low MC? Simple Toxic notes and dilution! Currently every $1000 in debt converts to 2M shares. So its looking to be about 1B shares in dilution minimum to pay off current debt, not including any new notes they may issue to stay afloat as they have no revenue. If the price drops further that number could balloon to 2-3B very easily.
Hit .001 this morning with 21M shares dumped within an hour of market opening. The dilution faucet is full open! Toxic notes can now convert at .0005! RS going to have to happen before long so lenders can continue to convert!
Yup and good riddance!
Of course they were less than stellar if you gloss over what the money for losses was spent on and where it came from. The old adage is still true, you have to spend money to make money.
The cash flow for the year was only negative by 60k or so. Most of the losses were spent on marketing website development or were non cash losses counted as losses for issued options and warrants which have the potential to bring future cash.
The existing business revenues are growing and will continue to support the company as they build out the new platform. Changes and updates are happening everyday. They already announced partnerships with one of the biggest data suppliers in the industry. WHI
They also are integrating the two largest multi-channel listing services into the platform Suredone was already announced and Channel Advisor should be announced soon as they are cosponsoring a truck in a race towards the end of the month.
Revenues will improve, margins will improve and the capital from the up list will start turning those losses into profits.
If they raise the full 28M they will be debt free and have plenty to market the new platform as well as finish the initial development with millions left over for future capital expenditures.
If you don't think they will succeed that is fine, but this is far from a share selling scam and if they do fail it won't be from lack of trying.
I get it! It's not for everyone.
Yes. .0001 and then they will RS so the rest of the noteholders can convert their debt to shares and repeat the process. Notes are now converting as low as .00065! Anyone positive in this is delusional or has an affiliation with the noteholder, pumping it so that they can profit more off the backs of retail shareholders.
Are you claiming to be Truthfairy?
Yup $10K bid right now at 10.00. May take all day to fill if it fills at all. Float feels pretty locked up.
Yup new low trade of .0019 allows noteholders to convert now at .00095! Remember all of their notes are now in default because they were severely late on filings and can convert at will.
The last bit of dilution of 31M shares(a 56% increase in the OS by the way) only covered about $35,000 in debt which was probably mainly interest leaving the principle to continue to build interest at an exorbitant rate. The death spiral has begun with most of the noteholders converting also having lawsuits against them.
$5000,000+ in toxic debt, 0 revenue, 4 lawsuits and a shareholder settlement they still haven't paid out.
This is a losing proposition for anyone.
Yup, and no dumping, just need more of that bid support.
Yup, I wonder how many idiots became new bag holders from Friday's pump coordinated and promoted by diluting toxic noteholders.
It was so obvious with the surge in volume on no news, now it will be driven down below .002 so they can convert their notes in trips and repeat the process over again.
Could make a fortune off this if you knew when they were going to start the pump each time. Flip a couple million shares for 100-200% each time.
Yup hopefully longs continue to work together and hold the line all the way to NASDAQ! Would be awesome to stay above $10 into June!
No, they pumped it back up after it hit .0023 in order to sell 31M shares higher than .003, and you assisted in that pump whether you have a direct connection to the note holders or not. I imagine you do though!
Almost back to the 52 week low after a 1 day pump! I hope no naïve retail got caught in that! It was such an obvious dilution pump by those in league with the toxic note holders. The death spiral has begun! Next time it will be 60M+ shares added, then 100M+ until they are well into the billions of shares again. They have no way out of this.
According to the 10K it was settled. But there were no details on what the settlement amount was. Holee molee keeps saying he's part of the settlement. I doubt that they'll even pay it even though they supposedly settled.
Eventually the debts will clear and the price will hit bottom if they don't take in more debt. The recent low was .0023 which means the most these defaulted notes converted at was .00115, so those 31M shares paid off $35,000 in debt. The death spiral has begun. Each future conversion will be for a lower amount for a larger amount of shares and for less debt. They have at least $500K in toxic debt still, this latest conversion didn't even cover 10%.
Also the noteholders have connections that short the stock lower to be able to convert lower. Then they have peeps who come and buy a little at the bottom and start pumping it and get others to buy thinking it is running. Some noteholders made 300%+ on their conversions on this last pump.
It can always get better in the future, but it will get a lot worse here before it ever gets better a long time from now.
This will be back over 1Billion shares by the end of the fiscal year with no revenue and multiple lawsuits. Your unrelenting optimism that this can turn around is incredible, but a bit misguided IMO.
GLTY
Correct, I called for over 50% dilution at the next update, and I was correct they actually had 56% dilution adding 31 million shares to the OS at the update yesterday.
https://www.otcmarkets.com/stock/VRUS/security
Wow, 400 + 1s, someone is paying to pump this ticker up!
Yup from the perspective of those who orchestrated today's pump, won't look so good in a week or so.
Except for there was minimal dilution after the last one and this one was solely for NASDAQ up list to meet the $4 trading price requirement for 30 days.
The OS was only 3.3M shares before management converted all their preferred shares to commons. Even then the OS was only 14M shares, which is tiny for the OTC before the split.
Also now that all managements shares are commons and were split with the rest of them, what reason would they have to dilute their own position down.
Understand this is very different than you see in most OTC plays out there.
GLTA
As should everyone. DD on any stock is important, way to many just follow the hype posts of others.
One can only hope, someone did just give away 300 shares at $8.
It is in the hands of the shareholders now. The share structure won't change before NASDAQ. Meaning no dilution to drive the price down, only impatient folks who never believed in the business plan anyway.
It declined due 2 things IMO, the first was impatient investors as you stated, this is the OTC after all, most are looking for a quick flip. The second IMO is due to lack of buying pressure and the default MM trading algorithms forcing a stock to trend down over time to a point where people start buying again.
Their goal in the split was solely to meet the NASDAQ $4 for 30 trading days requirement. If they are successful in up listing they will have an up to $28M capital raise in conjunction with the up list.
No guarantees here, but I like my chances.
Of course they are going to be able to. The only reason they haven't thus far is they are pouring millions into developing the new marketplace, which according to PRs will have the ability to scale massively when it is fully launched.
Their existing site liftkits4less is turning a profit albeit small right now, but all those profits are eaten up in the expenditures for developing the new platform.
Autoparts4less with it's ability to eventually have thousands of sellers and millions of parts is the at scale money maker that will drive future revenues and thus profits.
LMFAO!
In 2 years from the last RS they went from 586k shares to 3.3Million shares, before converting their preferred shares to commons before the Revers split when there was till only 14M shares in the OS and the price was .70.
If their goal was to sell more shares they would have sold a lot more over the last 2 years than they did.
Not triggered at all, just tired of the passive aggression displayed by so many here. It went up on a small buy at the end of the day and while most still can't trade it yet it has held up that price pretty well. Next week will be very volatile, but we will see what happens.
The only reason to split when they did with their share structure and cost is to go to NASDAQ. If they wanted to increase liquidity, they should have done a forward split.
Remember management has no preferred shares any more, they converted a couple months ago and split with the rest of us mortals. Any future dilution or other bad news hurts them as much or more than us.
This and SFOR are 2 very different stocks, Enjoy your .002s, this will be trips by summer. 0 revenue, more notes issued, and 4 lawsuits. Really should do some DD instead of just looking at price.
Hell if I know! I don't know what goes through people's minds. Why are you asking me for anyway?