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company has not raised any new capital or taken on debt in last quarter. Has $2M sitting as restricted cash on balance sheet.
number of shares outstanding is still low. According to financials, less than 20M outstanding as of March 31. Even if you add 5M shares for potential dilution stock/market cap should be at 1/2 to 1x revenue? That puts stock at .80 to $1. at minimum. Unless i over value the situation.
Don't understand the current valuation here. The company has a merger pending, $40M plus in revenues expected and EBITDA should be positive, most of the debt on the balance sheet is PPP money, that is expected to be forgiven and the stock trading down??
i am game
When traders are hitting bids on their sell orders vs letting the buyers hit asks, it usually means there is short interest growing for some reason. I think when the merger is finally completed and consolidated numbers are reported, they will be squeezed hard!
I believe change from Spectrum to High Wire and, more importantly the change in management will be beneficial to shareholders long term . Let's hope this merger closes sooner than later!
I think price at .$50 or more a share is very sustainable.
i bought 8500 shares after 3:30PM yesterday.
I believe many of the losses were derivative liabilities vs operational losses on an annual basis. Derivatives from variable or toxic debt.
WaveTech operation was totally a loss. No revenues from that operation only expenses. PR said that High Wire was profitable. Anxious to see actual numbers of the consolidated entity.
8k confirms take over and management change.
that Series A Preferred equity was in prior Quarterly filings. limited number of shares. Holders have not been trading. Maybe now they will
8k confirms that Roger Ponder and Keith Hayter will resign immediately upon closing!!! Value is $15.9 Million ( less than 1X revenue ) and payable mostly in a convertible preferred stock. The dilution to Common reduces as the common stock price rises since the conversion price is the greater of a fixed price ( Closing price at time deal closes ) and the average market price around the time of an up listing or conversion. The new company is taking it all on the come, believe in themselves .
No Market Cap is the number of shares outstanding vs price. The Market Cap vs the enterprise value ( which adds in the debt etc). The Market Cap here should be at least 1/2 gross revenue!
The company currently has a 2.5M market cap. Last 10Q showed the existing business doing over $20M in revenue in a COVID 19 year. This acquisition adds over $18M in profitable revenue. And more importantly, new management. I think it goes much higher. Market cap should be at least 1/2 of the gross revenue.
the company announced a definitive agreement not a letter of intent. That means the parties agreed to merger. An 8 K likely to follow by Monday according to SEC reporting rules.
cant listen to a disgruntled contractor. 18M in revenue of profitable revenue driven by that CEO!
in a COVID environment SGSI reported 12 months revenue of $12,738,374 in their last 10Q. also reported in the Q is that the merger of WaveTech GmbH was in exchange for the issuance of the Company’s Series C preferred stock ( which converted to $90M of Common ) as well as the assumption by the Company of $8,507,557 of WaveTech GmbH debt plus $3M in cash.
When the Company divested WaveTech, it canceled that Preferred. It also eliminated about $1.7M of balance sheet debt. The $8M of debt assumed was converted into equity re-reverse split.
This is $20M plus revenue company with a true market cap of less than $200K
The company is set up for an acquisition.
WaveTech technology never really fit with Spectrum; did not produce revenue last year, and the $90M overhang from the Preferred was crazy. I think this looks better already.
the total OS shares for SGSI are about 6M based on T/A report. The elimination of $1.7M of convertible debt plus the Preferred Stock overhang means that this is a 20M plus revenue company ...small, but with only a true 200K market cap. Maybe management finally gets it right?
Puritan Partners was a participant in the August, 2019 debenture.
the shares outstanding reflects what was outstanding as of December 31, 2019; prior to the conversion of debt into common stock. The conversion of debt increased the float each time.
My facts are very correct. There is more than $3M in toxic debt that is being converted at .01 or less. Look at public filings. Two year old convertible debt ($2M plus) to Bellridge is likely still outstanding. I doubt that debt holder has converted anything, as it was subordinated to a September debt offering.
The debenture holders from last September still have substantial debt outstanding. They are trading daily based upon the volume. But there would be more than 200 Million shares sold for those toxic debenture holders to be traded out.
TA is Corporate Stock Transfer in Colorado
Get facts correct. TLSS has not extinguished any toxic convertible debt. TLSS has used toxic convertible debt to repay expensive merchant cash advance debt. There is still more than $3M of toxic convertible debt on the books. Thats about 300Million more shares to hit the market.
the race of the class action plaintiff lawyer trolls. Only the lawyers make money, the shareholders all get screwed.
John put in $2M of his money; but it sits as debt on the books of the Company. His $2M is not going anywhere, he should convert his debt to common equity and feel the pain of dilution. He added millions of MCA debt to cover operations, only to replace that MCA debt with a significant amount of toxic convertible debt. It is that convertible debt that continues to dilute to common stock holders.
CEO John Mercadante's email address is John@primeefs.com.