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You did not deliver the goods.
You're fired!
Wrong answer, wrong answer, and wrong answer.
Our Pre-Funded Warrants are gone. On this new prospectus filed 2 days ago:
https://seekingalpha.com/filing/6496567
No more PF warrants. OS went to 2.7 Million shares. Is that what was going on? I just don't understsand those PF warrants. I'm glad they are done and gone with.
I think the investors (insiders) fucked us over. In the short term. It's still a good value, and that's the OS I'm on the record as rounding up to (3 million) for my own personal market cap. I'm glad they no longer exist to muddy the waters.
I just can't wrap my head around the pre-funded warrants. The dilution also drops our EPS down to .74ish per share for the first 9 months so far. Sucker punched by our own mgmt. team I'm sad to say.
Is this another lie or deflection or both?
Everyone here knows exactly what that “insider information” was especially you. Profit projections from an official account.
I've not sen this "official account." Can you provide a link to this official account that showed a profit projection. I haven't seen any profit projections. If it's official, why would you want your post deleted?
Can you deliver a Wang Fei a message to me please? Is that in your capacity? Can you tell him to get off his lazy ass and start doing something? We don't work for him. He works for us. I haven't seen jack shit from him all year. I've seen excuses. I've seen tap dancing. I've seen a bunch of Karaoke and holidays galore. I haven't seen anything for shareholders here.
What is BRich and Fireman doing here? Waiting for his stupid ass to do something for them? Or does he want them to worship him? Is this some pharaoh complex?
If Wang Fei has profit projections, tell him to get off his ass and start posting them on an official account. Get his website working, get an IR section working, and stop FUCKING AROUND! Capiche?
GET YOUR FUCKING STOCK UP AND HOUSE IN ORDER. Deliver that message to him IFF that's possible.
Videos of our Spokesman Endorsing other brands:
So be it then. Just a few examples of our Spokesman endorsing other brands, so there is nothing unique or special to our situation. Full Disclosure:
https://www.douyin.com/video/6926084480247565568?modeFrom=searchResult
https://www.douyin.com/video/7081080446473243912?modeFrom=searchResult
https://www.douyin.com/video/6775408161143786759?modeFrom=searchResult
https://www.douyin.com/video/6940385902527089920?modeFrom=searchResult
https://www.douyin.com/video/7027636407153855751?modeFrom=searchResult
I'll buy 1 million shares at .002. I think that should be every front-loaders price considering the incompetency I'm documenting with the company. Their complete disregard for American investors should not be rewarded. Plus, the risks of them being shut down by the SEC are serious risks to consider and should be reflected in a sub-penny price from the way I see things unfolding here.
Watch your back with Wang Fei. He is out for only himself. That's my conclusion to all the evidence before me. Everyone is welcome to draw their own conclusions.
I'd highly suggest Fireman and BRich not to go long as you have suggested they do. I think they should cover their costs and not trust a thing you say. You are very squirrly to me and just a gofer for Wang Fei. Everything you want shareholders to do and think are not in their best interests in my not so humble opinion.
Buyers have been warned.
That's good. I want them to do an investigation. I suspect a ponzi scheme abroad. I don't believe they ever had an intent to Nasdaq. It is part of a pump and dump scheme. I've not seen any evidene of a credible background with Wang Fei.
Why don't you put up some evience and we can analyze it together. I suspect money laundering myself. And that those "agents" of ours are victims that have been groomed. Given speeches in hotels that they videotaped, with speakers you trumped up yet have shady backgrounds from what I've been able to tell. I would definitely like an official investigation.. Given promises that didn't come to fruition. And I believe that their hands will be tied with restricted shares when the company does go public, just as I explained with the TOGL situation before the SEC brought them down. And the only people that will be able to sell in the pump will be insiders and those that were front loaded. And the front loaders being ignored here, which was the wrong move. You played your cards wrong.
I think it could be very profitable for me to ride on the coattails of the scam. But I'm going to call it out like a I see it. And you have been a big part of that inspiration. You have also suggested inside information, whcih I'm sure the SEC will be interested in. Like this post of yours:
Posted by: DoubleDouble
In reply to: None
Date: 03/31/2022 01:05:27 PM
Post #: 2,024 of 2,215
And if they don’t do anything today, then I need you to write down the number for your own use and then delete my posts. We don’t want to be letting any cats out of any bags and causing potential harm to our company.
There are so many good reasons to start an investigation on probable cause alone in my eyes. I haven't found any trails lead back to anything credible. Like our website. Try go to a link, and the trail goes cold. Just front, a huge facade as I se it. Prove me wrong.
Put up some evidence for review, since you want to be deaf and dumb. Or do you want to change your attitude and tell this company to stop jacking around?
Fraudulent and Illegal Claim to go Nasdaq in May 2022? You decide. Should the SEC be notified?
https://mp.weixin.qq.com/s/dePkwnKryECyGJ2LKSxnQw
Excerpt of questionable claim:
The company will be listed on the U.S. OTC market in 2021, and will be transferred to Nasdaq in May 2022, stock code: YBCN.
Lie #1: The company did not get listed in 2021. It is a shell company. There was a ticker change only.
Lie #2. The company did not go Nasdaq in May 2022. They didn't even list, issue a PR, or do anything in May of 2022. Illegal? Should the SEC be notified?
_______________________________________________________
Article in its entirety for prosperity on the written record:
Yongbaichao New Retail is based on social e-commerce, combined with the online Internet + offline entity sales model, on the basis of the traditional Internet B2B2C business model, to create a new consumption upgrade platform for F2C manufacturers directly to the terminal. The company will be listed on the U.S. OTC market in 2021, and will be transferred to Nasdaq in May 2022, stock code: YBCN.
The company's existing industries:
1. New Retail (F2C)
2. Onebel Clinic (Dermatology Anti-aging Clinic)
3. Ailexi (big health)
The company signed a contract with JD.com on July 17, 2021, and has now completed the strategic cooperation layout of JD.com, JD.com, JD.com, JD.com, JD.com, JD.com shopkeeper treasure supply chain system, and JD.com warehousing.
The new retail platform is the main business system of the company. In the future, the company will combine the three methods of online Internet + offline club + community marketing to create a new ecological new retail platform that directly connects manufacturers to terminals. Based on Yongbaichao's own brand, the existing The product is Yongbaichao sauce-flavor liquor series, and the platform will be grafted with products that people just need (such as rice, noodles, oil, etc.). The company eliminates all the profits of channel dealers and the funds invested in advertising, and directly gives it to consumers, so that manufacturers can directly face consumers.
The company will give 30% of the daily turnover of the platform to output sorghum beans on the platform (the anchor value of sorghum beans is 1:1, that is, 1 sorghum bean = 1 yuan) to consumers who participate in the platform. (15% of the daily turnover will be distributed as dividends every day. The remaining 15% of the daily turnover will be used as sales commission for marketing.) Withdrawal every Friday, the account will be credited next Wednesday.
Image
Members only need to purchase the designated products on the platform to participate in dividends and promotions
1. 7680 yuan 1 copy
20 bottles of Deyun, 10 bottles of Xiyun, 8 bottles of Yongbaichao, choose 1 from 3,
2. 38400 yuan for 5 copies
100 bottles of Deyun, 50 bottles of Xiyun, 40 bottles of Yongbai Dynasty, 1 out of 3.
3. 76800 yuan for 10 copies
200 bottles of Deyun, 100 bottles of Xiyun, 80 bottles of Yongbaichao, choose 1 from 3
Image
According to the purchase score, you will get the corresponding amount of dividends. Dividends are distributed every day, weekly settlement, and monthly income. When you get the principal of the purchased goods ? 1 times the profit, the cooperation is terminated and the dividends are stopped.
Image
Market commission:
7680 yuan, 3% 1 copy
38400 yuan 4% 5 copies
76800 yuan 5% 10 copies
The above are the commission points for choosing the number of individual dividends and promotions per day.
Team Performance Award
500,000 7%
2 million 10%
7 million 13%
20 million 15%
2% of the first generation equal award above 20 million
Where does the income come from?
Company turnover:
20%~25% corporate tax
30% of the company's operating costs
30% bonus commission (15% daily bonus, 15% commission)
15% to 20% of the company's net profit
Company Guarantee:
First: All funds go to the public account of the listed company.
Second: both individuals and enterprises can issue invoices.
Third: Qukai is a third-party flexible employment platform. The background is the Ping An Bank bank-enterprise direct connection system. All funds are transferred in the bank, and all personal income is subject to personal income tax to ensure the safety of funds and the legitimacy of personal income.
Fourth: WeChat Mini Program Promotion
Fifth: free shipping
The high-speed rail titled special train number has been signed:
On March 20, the Yongbaichao departed from Xiamen
On March 15, the Yongbaichao ship departed from Guiyang
The three major channels of CCTV put advertisements on Yongbaichao
For three groups of people:
1. Wine lovers, gift givers, corporate purchases
2. Entrepreneurs (asset-light entrepreneurship)
3. Investors
The business is mastered by yourself, the more you share and promote, the more dividends and the more commission.
The product + wine purchase principal + 1 times the income dividend is out, and the option to repurchase within 72 hours.
Famous Actor: He Zhengjun Image Spokesperson
Bright sword political commissar Zhao Gang actor
Image
I think you are right. I think it should stay that way. Perhaps they shouldn't be allowed to come through at all and have zero rather than 4 fans. I don't ilke people breaking promises and sitting on their ass.
I marry stocks. I don't trade them. I love the drop. I've gone from 1,000 to 3000. I'm going to go to 4,000 shares at $2 IFF that opportunity arrives. Instant gratification or slow wealth accumulation. It's my MO. It's works great. Puts me in lower tax brackets often too. Most all of my stocks have been great marriages. This one included. I pick my spouses wisely.
I know so.
Remember when I said I saw parallels between this and TOGL. Do you want to point out more porallels and see how far I can take it with the SEC, since you want to test me. Want to see me do a 180 on this board in my position with YBCN?
I can start with our stupid spokemans MANY signing and endorsing SEVERAL companies and the videos to back it up as step one. And point out how this company is suggesting by elimination that hs is solely our endorsement. How far do you want me to go? Do you want to cc you on the email I write? Or give me our fearless leaders's email, and I'll cc him.
https://behindmlm.com/companies/toga-limited-loses-philippine-sec-registration-over-fraud/
Some excerpts:
1. Toga Limited had it’s US SEC registration revoked in April 2019. The stated reason for the action was securities fraud and failure to file periodic reports.
I actually pulll up this board right here where thsi lady's complaint starts. I WAS THE FIRST ONE to explain to her what happened in public. What was reeally going on, and it started a chain reactoin I later regretted. Don't fuck with me, or I'll gladly start another chain reaction. It started right here, where I got involved:
The Philippine SEC commenced their investigation into Toga Limited after fielding multiple queries from the public.
One email detailed concerns about parents “giving up everything”.
I would like to know if Toga Capital Limited is a scam, my parents are giving up everything and inviting their friends too for this company and I would like to know if they’re genuine.
Tell that mother fucker Wang FEi to get his house in order and REAL FAST.
I'll have Wang Fei crawling with real agents if you want to underestimate what I can do one more time. Ssay something cocky one more time, asshole.
Getting back to the Philippines, in October 2018 the EIPD and National Police sent agents to a Toga Limited seminar.
The sting operation saw agents invest 5600 PHP into a Toga Limited Bronze package.
Continued surveillance into early 2019 confirmed Toga Limited, through Toga Chat,
I may just start a chain reaction this Monday regardless with my *suspicions* and documentation starting this Monday. Now that you've inspired me to do just that.
They are also invested in the stock. Or at least, that's their plan. They had meetings about our ticker on the projector. EVCC clear as day. The article on WeChat promising to go Nasdaq in May of 2022. Even listed 2022. The SEC will shut this down. They literally shut down TOGL for the same reasons.
Don't test me.
Which brings me full circle back to the carrot: The stock price. Their motivation for Chinese investors which is my theory.
We should be priced at .002 and see how motivated they are then. I'm sure they noticed the promises that weren't kept for May, which would have required action on the US stock exchange. They are married to US investors, like it or not. They wanted a credible stock exchange. So they picked America. They want credibility, but don't want to show any credibility themselves.
I don't think these Chinese investors should be rewarded with US money. And I think the SEC should be notified about these false promises abroad. That's how I'm leaning right now. I've seen how the SEC took to TOGL's efforts in deregulated overseas markets, and they didn't like the promises being made to investors that were not under their jurisdiction. They left a paper trail on that stock on who to notify if someone were to get pissed off, like me.
Good points. However, if they want to create the perception that they are interested in building an online retail platform, they should probably stop neglecting their website which has been neglected for almost a year now I think. Maybe work on the Investors Relation section, perhaps? Fix all the links that don't work. Put articles on it like they have at WeChat. Maybe be more online retail platform oriented rather than We Chat oriented if that is indeed their goal?
IFF on the other hand, it's just an illusion they want to create, same thing applies. They should want to create that illusion, and they should probably work on creating a better illusion. Make a work in progress actual work in progress!
As for the industry and competition, those are all great. But as they say on Shark Tank, talk is cheap! What is Wang Fei doing to do be a competitor? So far, he has shown the world on WeChat that his talk is dirt! Whatever he says now has no credibility in my eyes.
He has to keep his word. This is Mafia 101! This also business ethics 101! Without your word, you are dirt! And should be treated as such! That's my philosophy.
I haven't looked at our agents today. Yesterday they were posting links that didn't' even work. Oh my God!!!! I'm afraid to see what they are doing today, IFF ANYTHING. More Karaoke?
Pardon me if I'm getting a little annoyed, but Wang Fei is failing to meet my expectations. And they were not that high. I was wanting to see at least a picture posing in front of the Nasdaq Marquee and a PR that says, "Here we are, posing on the Nasdaq. We did say were going to be on the Nasdaq, right?" Or something along those lines. Something!
Stock is down a little bit today, and I say that's a good start for the sellers. But y'all really need to STAMPEDE the exit and bring me down to .002 please! All my shares to .002. I don't want our price to reflect a good work ethic if we have no work ethic. Price it accordingly! This all needs to be clearly communicated at Yahoo Finance too. I think they get more traffic there, or will be. Words need to be backed with action; otherwise, you are just hot air.
Investor Presentation Announced Today
Fort Lauderdale, FL, June 02, 2022 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. ("Singing Machine" or the "Company") (NASDAQ: MICS) -- the worldwide leader in consumer karaoke products announced today that it will be presenting at the 12th annual LD Micro Invitational on Wednesday June 8th at 11:30 AM PT at the Four Seasons Westlake Village.
They seem very focused on the stock price now. I'm sure they are very annoyed, so I'm good with that. It's a good value.
I have all bases covered. Either it goes up and I make money. Or my order that's good till cancelled up to October gets filled for 1,000 shares at $2 at my Merrill acct. Either way, it's a win win situation. I have Mr. Market in a headlock!
I think this is the reason:
Agreed. Over half the OS has traded today. Again! In just one day.
Mr. Market seems to be sending a very clear message. Something along these lines: "No matter what, I'm not paying more than half the price of tangible book on this! I need more GameStop at a discount to hyper-inflated prices, and WalMart is nothing but a squirrel! What part of this do you not understand? Can I make it any more clear to you? Do you need 5 million more in volume and trade the float ten times over? Do I look retarded to you?"
Me and my business partner seldom see eye to eye. That's why I love him as my business partner. But, I do agree is very annoying. Irritating asshole! :)
Thank you for the heads up. I guess I wouldn't have known they were actually on shelves if I didn't actually go look myself. And if Rada hadn't pointed it out first. Now it's official I guess across all 3,200 stores.
Although, I highly suspect they are experiencing supply issues in getting them some of the product because 3 different WalMart's in my area were out of the same exact Sku's . I find that too much of a coincidence. And they were all disheveled, which implied lack of morale within Walmart employees. Probably a labor shortage there too.
I'm going to return to one of them later this week and maybe hit another area. I'm in Houston, so I have LOTS of sample sizes around me for a good sampling size. I hope to see improvement.
Still a very net positive and I'm happy with it. Not so happy that our space was on a different isle from the competition in 2 of those 3 samples. Again, that comes back to lack of care it seems to me from WalMart staff. All 3 locations seemed completely randomized to me. Only consistentency was in the electronic department, so they must have vague instructions. 4 ft. of space anywhere you can find in your department. And they obviously don't care. Horrible employees at WalMart. :)
Still, beggars can't be choosy. I guess that's what happens with a shrinkign middle class over many decades. Too many people may not feel motivated because they got so far left behind. And I can't blame them.
I think Huate Media is more like the marketer of the trains, and we are just one of their many clients. As this account of their's shows:
https://www.douyin.com/user/MS4wLjABAAAAws52lPami66l9nz4rO-dw2PSY3OvDCtL2avw5Yk5ZC8b3sNoECr6BrGGBtrlJbCc
We are just one of many different advertisers. They show us in just one of many videos. All different brands on different trains. As I speculated before, we are just on one or a few at best. But it is dramatic, especially to those unaware here in the West. And I should start acting as a Devil's advocate and not a cheer leader for this company anymore since they cant' seem to get it together.
For a brief moment, I thought Sunset actually did some work. This is actually Huate's work. Copied by our fearless leader Wang Fei, and then copied by Sunset. Right down the line of worker, to slacker, to slacker.
So, we give Huate our money like others. And then we fall off a cliff. That's our 2022 story. Everything else is just lip service and patronizing. That's the facts as they are coming in. 2022 -- Year of SHIT from Wang Fei.
We have one new fool this week. Just ONE posting a video about us:
https://www.douyin.com/video/7101635338308799782?modeFrom=searchResult
Doesn't show our product. Our work quality going to the crappers. That's our best recruit for the month. That's my verdict. And an article 3 months ago saying they are going to Nasdaq in May. Instead, we get one drunk here that can't even show our product.
Disgusting. Absolutely disgusting! I would highly suggest everyone watch their back here. The yahoo board should be warned too.
Our spokesman is probably a broke actor because he isn't just marketing our product either. That's his side hussle. He promotes many brands. We just create the illusion that we are the only ones that are on the trains and being marketed by our spokesman.
Please, somebody tell Wang Fei to get his act together before he makes me mad.
BUYERS BEWARE:
I say buy only at .0002. That's where the stock belongs. Back where it was 3 years ago. Send Wang Fei a message. A .002 fist in his mouth.
I've seen her for a month or so now on TikTok. She is so bad, I couldn't bring myself to post her. She speaks yet says nothing. She tries to be funny but isn't. Wendy was much better. She could sell. This lady should be fined.
So, Sunset didn't actually do anything. It came from the official YBCN account:
https://www.douyin.com/user/MS4wLjABAAAARt-UERGwyMTtkHa-ZX5h0P635rfo7fQJLTkehviR_6N57oHep2GExlW5lUjSKYog?modal_id=7103476777061813542
The only one I didn't pull up because Wang Fei himself has proven to be the biggest slacker of all it seems. It's a great video, but almost too little, too late. Disillusionment is the feeling I'm getting from the rank and file. And myself included. And bring to their attention the false promises made to people and why they shouldn't be allowed on the OTC. It's not too late for me to extract some revenge if they don't get their house in order.
But one gun to his head is a .0002 price. I can go there with ease. That is the motivation of the army, and they don't need anymore morale destroying setbacks. What he's doing isn't working, so he needs to lift his STUPID implied gag order from between the lines. . Because I for one am NOT following it. He needs to get focused and start leadin by example. he needs to hold more meetings, RECRUIT, and pull in the mafia husbands of our agents and telll them to motivate people. Yep, that's my *jump to conclusions* here. Until I'm disproven, that's my *assumption*. :)
Motivate with a higher stock price. We don't have forever here. The time to move is NOW! My sentiment is turning sour, and I'm about to turn my wrath on this gang that can't shoot straight. The mafia of LOSERS that can't get the job done. That's what I'm seeing. That's my motivation. Quit being dream destroys are start being DREA MAKERS! And start acting like this Rocky-style theme music on that video! Reflect your propaganda! That's my message to the SLACKERS. All of tthem!
And when you make "articles" telling people something big is going to happen in May, so big that you are talking about Nasdaq in May, you actually do something SMALL. Because I know it's bs, but do SOMETHING. That looks big. Pose in front of the Nasdaq sign! Don't be like jackasses and do absolutely nothing!
Jerks! I can easily go into a mode where I become a light of exposure on this stupid organization with the SEC if they don't start doing their jobs!
Sunset Drunk finally did something useful:
https://www.douyin.com/video/7103505356155931912?modeFrom=userPost&secUid=MS4wLjABAAAAaSExZ3M07GzVBRSjvNst0hGaGDKw8cZSYmAvLnd7-Cw
Now that's high quality. That's the kind of work I knew Sunset was capable of. So far, he is the first to have it by my observations. That's the work ethic I want to see! Stuff we haven't seen before. I want to see passengers, which these show. Not all empty seats.
I hope they get their act together soon. I hope those that left were the no-people and some yes-men replaced them. I don't want to hear I can't, no, or that's not legal, or any bull#$#@! Just do it! Get it done!
Do whatever it takes! Break the law if you have to. Break good laws; break bad laws. Do whatever it takes. Remove anyone that's an obstacle. NO MORE EXCUSES!!!! Produce or get out of the way!
Stringray Ownership Percentage Intrigues Me
So I changed the front page to reflect a 24.4 percent ownership interest of Stingray now. That's amazing. After the dilution, their percentage went up a net 4 percent. I don't understand. I got it from the latest filing here. An amended statement of beneficial ownership. Amended by Stringray themselves.
https://ih.advfn.com/stock-market/USOTC/singing-machine-qx-SMDM/stock-news/88219542/amended-statement-of-beneficial-ownership-sc-13d-a
“As of May 25, 2022, Stingray beneficially owned approximately 24.4% of the Issuer’s outstanding shares of Common Stock. The foregoing percentage is based on 2,005,523 shares of Common Stock outstanding immediately after the Public Offering, as reported in the Issuer’s Form S-1/A filed with the Securities and Exchange Commission on May 5, 2022.
So that means they own 489,347 shares. Their amendment comes out on the 27th of May. On May 25th, our prospectus came out and it gives them an 18.8% ownership. So, it's like they stepped up real quickly to correct the record?
https://ih.advfn.com/stock-market/USOTC/singing-machine-qx-SMDM/stock-news/88214588/prospectus-filed-pursuant-to-rule-424b4-424b4
Stingray Group Inc. (3) 222,223 18.2 %
And the original statement of benificial ownership filed on the 25th says this:
https://ih.advfn.com/stock-market/USOTC/singing-machine-qx-SMDM/stock-news/88211516/statement-of-changes-in-beneficial-ownership-4
After giving effect to the transactions reported on this Form 4, Stingray directly beneficially owns 322,223 Common Shares and 222,223 warrants to purchase Common Shares ("Warrants").
That would be 16% ownership. Before the release of these, I changed my page to "over 10%" because I came up with 15.4.% by rounding off an approximate 20% stake on the approximate 1.2 million original shares which is 240,000 shares. Then adding 100,000 shares for what they purchased in the secondary for 340,000 and dividing that by 2.2M shares (the figure I had come up with which was spot on). That's bascially the same 16% they came up with. They would be more accurate. So basically their percentage ownership went down on the net. Or so it appeared.
HOWEVER, this amended filing above -- Stingray files it to correct the record and say they own 24 percent. They correct the record and say their ownership percentage went up, not down. They have more than 140,000 shares than any record reflected. How could that happen? What am I not understanding? Were they part of the massive volume buying when the reverse split went into effect, and there was the liquidity to do that below the secondary offering??? Is that possible? Is that how the discrepancy happened?
I went to a third WalMart this weekend. Same thing: Disheveled. Same exact 3 colored microphones are empty. Imposters sitting on our shelves.
It seems too much of a coincidence. I get the feeling they may have supply challenges since it's the same 3 colored microphones in Rada's first picture that are missing. It's a little disheartening to see 4 ft. devoted to us so sloppy on 3 samples in Houston. All the same with some brand in our space that doesn't belong. Then on another isle, you have different brands bunched together. More organized though. I feel like we should be in 4 ft space next to the competition so people can not be deceived. Depending on where they are in the store, I would stop at the Karaokes I find. So whoever I find first, I'd think that's it. That's my entire selection. Why would I think a different Karaoke brand would be on another isle?
At the same time, it could work in reverse. I can't say that either is a better location than the other. It's kinda crappy that 3 samples though show disheveled arrangement and missing sku numbers. Annoying. Supply problems is my gut instinct since it's a tri-fecta on the same sku numbers.
Still, it's a net positive. But really needs to serious attention.
A filing yesterday reveals DISILLUSIONMENT at the board level from my undestand.
DD, that's a just a clip from a profesional video earlier in the year before they fell off a cliff. Just a snippet from professional propaganda.
https://seekingalpha.com/filing/6479346
CFO quit. Some on the BOD quit. Probably because like me they are getting disillusioned. Promises were made and not kept. I highly urge everyone to sell at market and send Wang Fei a message. He should no longer be given any support from shareholders.
Revolving doors are never a good sign. I think a good sign to deliver to Wang Fei would be a stock price of .0002 to reflect the incompetence manifesting itself. I have not seen any recruitment, so our spies may be quiet lately because they are starting to feel like they've been scammed. That's just a theory and interpretation of the evidence I'm seeing.
If Wang Fei feels like my money here means something ot me, he highly miscalculated. I want my money to reflect competence. And right now, I think a fair price to pay for YBCN would be .0002. Which is where it was before anyone started jackign around in this empty shell.
Yes indeed. I noticed that the moment I saw it months ago. They lie a lot. Like Nasdaq in May. Which ends in just a few more days.
All our agents seem to be fall asleep from boredom too. They may be getting dislusioned. They made great videos that required time and money and then fell off a cliff.
Zhong 2 posted this. Some unfamiliar faces:
https://www.douyin.com/video/7102427754884386083?modeFrom=userPost&secUid=MS4wLjABAAAANPxxGkXsHnKebbql-d65qMQHk0utvM4G-ZW3u3VfNzE
#Yongbaichao sauce fragrant wine club welcomes you # Thanks for all the encounters
Our production quality is going to crap. Maybe some new members though that can pick up where others went Awol?
The longer they jack around, the more they lose credibility. I don't care if they lie as long as they follow up with more lies! LOL My popcorn is stale now, waiting for this movie to begin.
I would suggest everybody sell at market and take it down to .002 and let Wang Fei understand who's the boss here. I'm not selling ,but everybody else should. I can handle it. I'm not so sure Wang Fei could handle it though. He's about to see what happens when I get mad, and I'm about to get mad.
I don't understand it. Other than all the risk disclosures that warn that their stock may be volatile and thinly traded. Just stumped here. But IFFFF there was never these great deals, I'd never make money. :) Somehow, it all works out in the end. I sure can't understand the short thesis. Except a reverse split curse perhaps, which could become a self-fulfilling prophecy? But fundamentals always prevail in the end. Eventually...
Unless I'm missing something here. If there is a train coming that's going to blindside me, I'm not seeing it. The road looks clear to me ahead; albeit the road less traveled.
Well, I wouldn't say the sales suck in my opinion. The p/s is ridiculously low. They are at $45 million in revenue in the first 9 months, and the stock is priced less than $9 million right now.
I have more shares in NROM (pizza) and it's the same situation. 40 years of history and in the gutter. Both companies have some bad pasts.
The good thing about this one is that the board is changing. I'm stuck with nepotism at NROM. I have to wait for them to die of natural causes. I think the governance is better over here. Another new board member just yesterday was announced.
They did lose Toys R Us as a big account a few years back. They've had some struggles for sure. But I think it's really cheap by all metrics. Even it's profitable too. They do seem to be headed in the right direction, and Stingray is a good partner to have.
And at this price, I can't see who wins if it doesn't go up significantly. Except hypothetical shorts. And I know a credible source from another forum that claimed to lend some shares to shorts for an interest rate close to 10%, so he's banking! The shorts aren't getting good rates. But that lender is also underwater here with lots of shares, as he lends out his own shares. And he is up there much higher in price.
Eventually, truth prevails. I just hope I understand the traqjectory of truth correctly, and I think I do.
And strangely low volume at the lowest of prices too. After millions traded a full dollar higher this week. And for every seller, there is a buyer. So, nobody gains here as I see it. Even new board member participated in the $4 secondary. Everybody must execute or lose. And I like that alignment of interests. Plus it's accompanied with great value and sales moving in the right direction with a new deal with Wal-Mart to my understanding.
Also substantial discount to net tangible book. The prospects factors in the secondary into the latest Dec. filing:
After giving effect to the sale by us in this offering of shares at a public offering price of $4.00 per share and after deducting the estimated underwriting discounts and commissions and estimated offering expenses that we will pay, our as adjusted net tangible book value as of December 31, 2021 would have been approximately $15.3 million, or $6.89 per share of common stock.
Source:
https://ih.advfn.com/stock-market/USOTC/singing-machine-qx-SMDM/stock-news/88214588/prospectus-filed-pursuant-to-rule-424b4-424b4
I'm never good at those short-term predictions. I just buy value and let it sort itself out. Which it almost always does. :) And qualitative variables (the unmeasurables) definitely weigh in on those decisions.
Not this new 4-foot of shelf space in the electronic dept of 90% of all Wal-Marts. That's as recent as this month. They were in the toy dept before allegedly, but I never could find them. Maybe not in all. But this deal that went into effect this month is huge in my opinion. That is not reflected.
It's not even going to be reflected in our 10K in the next month or two because that fiscally ends at end of March. So, it's only going to be reflected in the back half of Q1 which we wont see until August. That's what I call Mr. Market's lag-time to understanding. LOL
It does make me wonder if we still are in the toy dept. of some Wal-Marts. I just don't know about that. I looked recently too, and if we are supposed to be, I sure can't find us.
New Director also participated in the $4 Secondary:
Mr. Foreman made an investment in the Company’s recently announced public offering signaling his faith and commitment to the overall business model and corporate strategy of the Company.
https://seekingalpha.com/pr/18810555-jay-foreman-joins-singing-machine-board-of-directors
That's very interesting! Another good alignment of interests. I like him already.
New Director also participated in the $4 Secondary:
Mr. Foreman made an investment in the Company’s recently announced public offering signaling his faith and commitment to the overall business model and corporate strategy of the Company.
https://seekingalpha.com/pr/18810555-jay-foreman-joins-singing-machine-board-of-directors
That's very interesting! Another good alignment of interests. I like him already.
We have a new Director announced from this place I think:
https://www.basicfun.com/
Its founder and CEO. Not familiar with them.
Our mission statement is very broad: Create joy through music.
I love broad a mission statement: It means you can adapt and branch out. I hope they do more than just Karaoke in the future. I love the fundamentals, but I'm just not into karaoke myself. I'm happy with this great value and the possibilities for the future.
I still have that 1000-share limit order at Merrill for $2.00. The GTC over there is much longer than my Etrade. The only advantage Merrill has so far. Which is a small advantage. It says that order expires in November of this year.
It will be a gift if it fills. I'm going to take dumb money as my gift money.
Official Prospectus came out yesterday afternoon, so all our calculations are now verified and set in stone:
https://ih.advfn.com/stock-market/USOTC/singing-machine-qx-SMDM/stock-news/88214588/prospectus-filed-pursuant-to-rule-424b4-424b4
Right on the money on the OS count. Although, I think I'll switch it back to my original 2.2 M and link to this prospectus. Only because while I think our 2.7 is more accurate since it's the only truly fully diluted shares at this time -- actually 2.8M if you count some employee benefits -- that may serve to cause more confusion than it's intended to reduce. And then for my own personal mental math, I'm going to go with 3 million because I like simple and quick calculations.
Yes, certainly not a strong pre-market volume like yesterday. Maybe the excitement over.
I can't find a video on pre-funded warrants. Especially one that goes through a reverse split. I need a visual. That's my problem. I need a good dyslexic tutorial. One made for my brain. I'm going to make that a mission this weekend. But I think I better understanding is coming into focus....
I can't count today. That woudl be 2.7 on the high side. I'll fix that. I don't understand that, but I'll include it to err on the side. I wish a Finance major could explain those pre-funded warrants in very simple English and why they aren't already included in the OS. Why would they be eternally accounted for separately???
BTW, this is reelased today in regard to consumer fears:
The retail sector is seeing a strong recovery after earnings reports from Nordstrom (JWN +9.6%) and Best Buy (BBY +6.0%) helped tamp down fears that consumer spending is tailing off far and wide.
And I'll just wait for all the dust to clear on the 10K in a few months to see what the true EV is at this time without any fudging.
My broker now is reporting 2M OS and 1.2 M in the float. That would make more sense. But then they are off 700,000 too. 200,000 for sure. They seem to be going by the prospectus's assumption.
Oh, God! Everything is so F'd up right now. So much contradictory information in the data out there, trying to be absorbed.
Perhaps you are right. 500,000 shares rounded off could be amiss. But 2.25 million on OS then or 2.3... Somewhere in that ballapark. Those PF warrants are confusing. If they are pre-funded, then why aren't they already included in the OS? I hate that pre-funded crap! Just wish they had been happy within regulation and done it the NORMAL way like everybody else. In fact, I'll bump my OS on this frong page to 2.3 million to err on the side of caution. It's almost irrelevant as you say.
Getting in good shelf space in the electronic section of 90% of all Wal-Marts can really offset those headwinds though. It's really cheap in spite of all that. We are getting recurring revenue now too, which is ramping up. So we'll see. Those are legitimate fears and weighs on sentiment I'm sure. I just buy value and let it work itself out eventually.
I went to another Wal-Mart last night and took a picture. I'm just behind firewalls right now and too many loops to jump threw to post it at this time. But it was kinda ransacked looking also. It was in a much better location at a Super Wal-Mart I visited, kinda center of the place. Weirdly, all the other branded kiosks were on a totally different isle. So, if you go to them, you can't see us. And vice versa. Don't know if that's good or bad. They have their own isle too and not a bad location either. At least we are out there and legit. That WalMart had empty scu's too like the previous one. On many products not just ours. I get the feeling WalMart employees don't care. Kinda rude and lazy. At least in my city. But I guess you go there for price. I shop there! I'll take discounts over service.
Interesting that StingRay did buy 10% of our offering. There was plenty of liquidity for them yesterday to buy the same amount under $3. Weird... Not complaning, just weird is all.
That's where it gets confusing. They do include them in the footnote. If you look below that int he fine print, it distinguishes between issued and outstanding. Their OS on that prospectus is slightly over 2 million shares. But you have to go to page one or so to see their assumption, and they assumed a $5.18 issuance price or something like that. They are backing out the private placement on their OS because they aren't truly issued yet. If you substract theeir OS from their issuance, you'lll get the exact number of shares they *assumed* would be issued at $5.18ish (going by memory) which was slightly over 800,000 if memory serves correct.
But they did list a range with a low end starting at $4 which is precisely where reality occurred. And 1M shares were issued at that price, so that would take us to 2.2 OS.
As for the pre-funded warrants, those don't act as normal warrants. They just serve to confuse. As you'll note, the .30 didn't adjust in the reverse split. That's because they were *pre-funded*. They aren't normal warrants.. In fact, I'd argue they aren't warrants. It was a convoluted way to say private placement which already transpired last November or so. They are listed separately as PF warrants, and the quantity did go through the reverse split, but not the price. Because the price is already exercised -- pre-funded. It's just done that way as a legal loophole to my understanding to allow a higher threshold of ownership for some of the investors. To get around some regulation. That was my concluisoin. That whole penny warrant thing had me worried at first, as you'll recall. It all makes sense now.
SUPER CONFUSING. But there are no warrants that can exercise below our current price to my understanding.
I just don't recognize the warrants because they are anti-dillutive at this price. The lowest priced warrant is $9 post-split to my understanding. It would not be exercised if the price is never stable above $9, so it would never get included. It would just expire worthless one day.
So at this price, I exclude those. To me, they would be deceptive. Not even fully dilluted to me because they can't dillute at this prices.
The only thing the function as right now is an alignment of interest to those that want a higher stock price. Much higher price; otherwise, they expire worthless to the holders of the warrants. Eventually... Therefore, anti-dilutive at this juncture.
OS Clarification:
So my broker now shows 1.2 million shares as our OS. That makes much more sense. So add 1M from the private placement, and we come up to 2.2 OS, which is what I put on our front page. So, I'll assume those are not yet officially "issued". I don't know when that officially happens. I think there was talk about tomorrow being the last day. Do some back out and buy at market? I don't know the fine details of it all. Just a macro understanding here.
I'm going with 2.2 million shares for all practical purposes. But if 1.2 million shares are the only issued shares at this time, and we are now hitting 3 MILLION shares in volume and it's still pre-market, what's the interpretation on that? I know 100% of the shares aren't changing hands....
Do we have professional ping pong players in our midst?
2 MILLION SHARES 15 minutes prior to pre-market???? I've been talking the last 15 minutes, and 900,000 shares traded in that time?
Well, one thing can be ruled in: NASDAQ is allowing more hands and interest. I'm going to a TEST. Going to my Merrill Edge acct rigih tnow. This is the account that ties my hands on everything. They wont' let me buy penny stocks like SMDM.
INTERESTING RESULTS: This is what MERRILL EDGE is telling me when I just trie dto put a 1000-share limit order in a $2.00
This security is going through a reverse stock split. Opening orders can be submitted, however closing transactions will be blocked online for the remainder of the day and for up to 3 business days thereafter. In order to liquidate, you will need to call in to the Investment Center or contact your Financial Advisor. Also note that existing position values may be artificially inflated until share quantities have been adjusted. (RES_REVSTOCK_SPLIT_WARNING)
For more information, call 877.653.4732.
Mind you, I have no shares of this in Merrill. That was just my WARNING. I just pressed SUBMIT a second time and my order went in. I guess I can buy but not sell yet without calling . I don't think my order will get filled but IFF it does, I'll keep the 1,000 shares at $2 in that acct.
CONCLUSION: Nasdaq does indeed create lots more interest and opens doors for many that were previously excluded. That was theory and this is the evidence. At least that part makes sense. The price falling doesn't make sense. Not to me anyway....
I'm all MICS official now.
*Maybe* part of the pre-market explanation is that all shares are tradeable now? ALL MY SHARES are now MICS. 3,167 shares I have officially. My broker says my cost is $1.89 per share because they are all screwed up. Everything I had before is considered zero cost to them. I guess they don't want to think. I hope they don't expecdt me to use that as my tax calulation in the future.
I know my true cost is $2.00 higher at $3.95ish. But, YESTERDAY, I'm not so sure I could have sold a CUSIP number. I didn't try. I only bought. So IFF I couldn't sell which I suspect I couldn't, who was selling? StingRay owns 20% of the company prior to the secondary, so they wouldn't be selling.
DOES NOT COMPUTE. All my thoughts keep returning to DOES NOT COMPUTE. :)
It doesn't seem logical that it would be fear of a bear market. Then don't buy if that's the case. Who are the buyers? For ever selller, there is a buyer. I don't kno whow we have so much volume and we have only 2.2 OS. Is some float be continually rolled over. Just changing hands? What is the true float here?
Wow. That's amazing, Hweb. I missed it. I was sleeping and now enjoying my coffee. Oh well, early birds get the worms and I missed it. I can't believe over 1M shares in pre market???? There is only 2.2 million shares max outstanding. That's assuming they are all issued too.
I was thinking last night that maybe yesterday was a knee-jerk reaction to a $4.00 price on the new issuance? The prospectus gave a range of $4 to $5 something. And it *assumed* a $5.18 price or something like that. So we got more shares, which I calculated to be 2.2 million rounding off -- thereabouts. Maybe it was capitulation at the low side? I have no idea. Just grasping at straws.
I don't know. I'm happy. $4 is .13 cents pre-split. $6 would have been .20 cents pre-split, so I wouldn't even have sold unless I see at least 50 cents pre-split which is $15. Adn I just would cover costs with some profit to show. But hang on to the rest IFFF that were happening right now. But what I'm seeing is $3.60ish right now on -- Jesus!!!! 1.23 million shares already. And it's only 8:00 am., a full hour before markets open for me. This is pre-market to pre-market! This is pre-pre-market. Wow! Unbelievable volume.
I don't know how to explain this. Day 2 of DOES NOT COMPUTE