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I know this hurts, folks. But I'm legitimately not worried.
Just sayin'
Super ultra extremely undoubtedly impossibly mega totes close!
True....
Or false...
We're where we always were, bud. Waiting for updates. We'll get them sooner or later. Then we'll know what's up.
Right now we don't know. And we won't know. Until we know.
Then we'll know.
#sageadvice
Grabbin' cheapies here. Weak hands! Nom nom. Scared sellers! Transferring from weak to strong hands! #PCTL.
But just for S&G: loading here in the 14's
*yawn*
Wake me up when we got something to talk about, y'all.
Since there was a loosely defined extension date in the LOI (the 19th) they would not be required to file an 8K if the deal was off. They could choose to do so but would not have to.
See: the last merger deal that did not execute. The extension date passed and they let us know the deal was terminated officially not in an 8K but in the last 10Q it was thrown in there.
We're assuming they're in a quiet period which is entirely possible. If so, we could make a few other assumptions (and granted these are assumptions).
The LOI was extended through August 19th. If that's the case and the deal didn't die and they did file at some point in that time then we would/could be in a quiet period now. We don't know this for SURE but it's possible.
And typically that would be somewhere between 2 weeks and 40 days from the date of filing; but it does matter when the SEC certifies it.
Bottom line: if something was filed before the August 19th extension in the LOI then we could be looking at a quiet period up to and even slightly past September 19, assuming it takes about that long.
All speculation at this point but certainly it's possible.
I mean... you can if you want to or need to. The only reason you can't "go dark" is if you're really caring about the share price on a day to day basis. If Jody is legit, and I see no reason as of yet to think he's not, I don't really think he cares much about the share price on September 6th 2019. Nor should he really.
If he's really working on this deal, and it gets done, and it's as good as we all think it could be: no one's gonna care what the share price was on September 6th 2019.
They're in theory moving forward and trying to get the best deal done for their company and their future. Truly doubt they care right now if their share price goes up from .017 to .019 on any given day based on fluff or speculation.
These things take time. They can have the time as far as I'm concerned. Just get it done eventually.
Assuming this is the case, they would technically not be allowed to file or PR something until it was a done deal. Or at the very least, you don't go blabbing about it until it's a done deal in most cases.
If there is a quiet period in effect, that would be one big reason.
Another reason might be that they're just still in talks and nothing is concrete.
I wouldn't expect them to PR a random, generic update. And I'm not sure it would do US any good either.
I think this is correct.
1. Based on everything we know, the 2Q revenues should look really good. At least better than Q1 which is what you want to see. Steady growth.
2. There's a trial deal in the works in the midwest which ends this month and should result in a sale/more revenue
3. There's an agriculture trial ending in October which could be HUGE for that sector of the business and result in sale/more revenue
Yeah, the Ontario deal would be awesome too. And there's no indication for me that that deal fell through. But even if it did, I wouldn't feel bad about what the next couple months have in store.
If they're in a quiet period then that explains everything. If they're still working on things, that explains everything.
I know peeps are frustrated with the lack of public communication but I also think some peeps are a wee bit impatient and don't fully realize that often, this is how these things work. I agree the 10Q is now way late and will admit that's abnormal, but I'm continuing to believe there's a strong reason for it and that reason goes beyond "we just didn't wanna."
The reason for the delay likely will reveal all in due time. Could be something really, really good. Admittedly it could also be something bad. Nothing is for sure in the OTC but based on above, I still think PCTL, even without the Ontario deal, can be a strong hold moving forward.
Just may take some more time, that's all.
Folks, there's got to be a reason for everything.
Why does a company which never misses a deadline for filing, all of a sudden miss a filing by not days, but weeks with no update? Even in the past when they've filed an extension (as many companies do), they've filed in a timely manner.
There's got to be a reason for it. And we really only have a couple of reasons.
1. They just don't care
2. They're just that disorganized and really really late
3. Something is happening which is preventing them from filing.
I really don't think it's 1 or 2. If it is, shame on them and shame on all of us.
If it's 3, then what is that something? It's something either really good or really bad.
I'm betting on it hopefully being something really good.
No, but he wouldn't be able to give a definitive answer- not that he would likely give any material answer (as in a date) regardless of whether they're in a quiet period or not.
Nope. Sell now and leave the board
What's up?
And that, for those keeping score at home, is why the float keeps getting tighter and tighter and why we keep creeping up slightly.
Could be what I’ve said- that it’s not really late because a different filing has been submitted and is under review before approval
Agreed.
However, I believe that if they have filed paperwork regarding a deal, that a quiet period is invoked and that may supersede the need to file a 10Q as they would have filed more expansive restructuring documents which would include that, among a lot more, information. And the SEC has to accept the filing first before it becomes public. So we could in theory be in that period now which is why no further updates have been made public and anyone who gets an email gets a generic "we're working on it" email.
Not 100% sure on that though. So someone please correct me if I'm wrong.
I do stand by my original assertion/belief though that there is SOMETHING holding them back from filing the 10Q and it's something more than "we just don't feel like it" and it's something more than "we're just really late on it. Our bad!"
Even in the past when they've been late in filing, they always file within the extension. Now they're really really late.
So I would guess that either something really good is in the works or something really bad. Here's hoping it's the former and not the latter.
https://www.sec.gov/fast-answers/answersquiethtm.html
More info on the "quiet rule"
Interesting to think about.... Perhaps?
Yeah, it IS possible that Q2 revenue or other developments have given one or both sides pause to re-evaluate the original deal as outlined in the LOI. Could be that the value is higher; could be that it's lower.
We pretty much expect, based on what we know, that the 10Q should show higher revenue so its not likely to be lower imho
You wouldn't think but there are a few reasons why this might be the case. Not the least of which is that Ontario might be requiring an outside audit of the 10Q prior to closing on the deal.
I would have to assume the deal is still on and ongoing otherwise there would be no reason to not file the 10Q in a timely fashion. However, if Ontario is requiring an outside audit to confirm financials (whether they're good, bad, or neutral), that would be the most likely scenario for the delay.
Additionally, if the deal is being closed and/or if a buyout is ensuring, then I believe a 10K could be issued instead of a 10Q- which takes longer to prepare.
In any case, a 10Q is typically a ho-hum, no big deal kinda filing that doesn't take too long to prepare. It can also be updated/amended after filing if need be.
So the options are:
Something is holding them up from filing. What exactly, we don't know. Could be a deal, could be something else, but SOMETHING is delaying it. Whether they are just delayed because they are focusing on this other thing or the filing itself is delayed because it is contingent on something: we don't know.
Or:
They just don't care about filing it so no biggie, they'll get to it eventually. I can't see this being the case given their timely filings in the past.
So I'm opting to go with option 1.
Agreed. Others involved do have connections to healthcare- but keep in mind that tech applies to other industries as well- oil and gas being one of them. Not a huge leap there from mining and it's a big business in Canada. Could be an overlooked/underappreciated connection.
It's also possible these guys are just the investors who are fronting the money. Wouldn't be all that strange. Ron comes to them with a deal, says "$5 mill and it could be worth $50 mill in 5 years."
Having worked with and for "rich guys" (lol) in the past, a lot of them have a go-to guy that brings them investments. Sometimes it's in their industry, sometimes it's not. But $5 mill could be peanuts to these guys for all we know and maybe they're willing to take a flyer on it.
We know that PCTL has aspirations of applying their tech to the oil and gas industry... so it's not a stretch to get there from mining either. Which is a big business in Canada. Could be an underlooked attribute.
Fair enough but there are others involved as well who do have connections to healthcare and oil and gas- which do make sense.
It's possible those two are just the money men.
Yeah, I mean for all the hype and potential, one thing we're not really talking about is their debt situation. They have a lot of it. They're not exactly cash-healthy. They're generating revenue but they do kinda need a shot in the arm to keep the lights on and take things to the next level.
Based on the filings, they're fairly in debt. Not insanely so, but enough that they kinda need a deal to keep things going.
Someone fill me at .0163 please and thank you.
We shall see. Holding long either way
No, that’s solid. I’m sorry, I meant the notion that our delays is because a multi million dollar buyout, scores above the original deal, is in progress
A lot of this is fun speculation lol. But we’ve seen nothing to really point us in that direction.
So let’s just caution against raising our expectations too high too quickly.
Would be awesome if true though.
Yup yup.
I'm not goin anywhere. Too much potential.
We know Ontario was created specifically for this deal. The LOI said as much explicitly.
This time I may agree with the Apostle even though she never met me at the Mailroom a couple weeks ago and I was looking.
This is probably right as well. I've tried asking a few different ways but he never gave up anything other than the generic response. I've received two responses and they were basically the identical "we are working to file our quarterly report which we hope to file soon" response.
It could be that they are ignoring certain emails which are impolite or who are pointedly asking for something they're not going to speak on yet.
I'm honestly not super surprised. I'm sure they're inundated with emails so they probably reply to a few here and there when possible. Either way, I'd be shocked if anyone got anything substantially different than the generic form response I received and I know others received.
I have 100% received a response and can confirm that others have too; but it's just a cookie cutter response, i.e. "We are working diligently to blah blah blah."
Nothing substantive. Which is the way it should be.
Fingers crossed, bro.
That seems excessive. But I wouldn't complain.
lol you can’t just add the word material in front and make it a thing.
A LOI is not a material agreement. Even “binding” ones are typically non-binding from a legal standpoint.
They would not have to file an 8K announcing the deal was off, if it was indeed off.
Case in point, their last deal. No 8K was filed announcing the deal was off. It was instead mentioned in passing weeks later in their 10Q
They have 4 days to acknowledge a completed deal. They don't have to acknowledge a dead deal.
This is incorrect.