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I wasn't complaining. I was just expressing my surprise and my hope.
That is interesting and informative about what you said of the promotional style of Canadian companies. Regarding the market cap I neither agree nor disagree with that (though I have an inclination to agree), but due to yesterday's price (and volume) action on Komo's stock I now wish I had stuck to my attention to pay no more than 10 cents/share for $KOMOF. Had I done so I would have bought more shares (about 9% more) with the same amount of money invested, in additional to doing so a price which was about 9% lower.
Since Komo has a habit of very frequent news announcements I am surprised 9 calendar days have thus far gone by without any press releases from Komo. I hope Komo issues good news by the end of next week.
From yesterday through this morning I managed to buy back the entire remaining quantity of shares of $KOMOF stock that I formerly owned. I bought them back at 11.00 through 11.02 cents/share. It took awhile for my order to completely fill but now it is filled. I preferred to buy the shares between 9 cents to 10 cents per share, but I gave up in buying them in that price range. Now that my buy order is filled hopefully the stock will soon go back up over 12 cents/share. I wanted to buy the shares before next year and before KOMO announces entry into the USA market.
Maybe one year from now the quarterly revenue will be $10 million, but I can't forecast accurately that far out. As a result I am conservatively thinking of quarterly revenue of $1 million to $3 million one year from now for $KOMOF. But, I have no idea if the company will have net income or still net losses one year from now.
Indeed. The news will likely hurt the stock price. Perhaps a drastically scaled back version of the bill will eventually pass next year.
It looks like ASTI's stock price won't get any further boost from the USA's Build Back Better bill since last weekend Senator Joe Manchin said he won't vote for the bill, and thus the bill won't pass or ever be voted on in the Senate (at least during this year). The news will likely hurt the stock price. Perhaps a drastically scaled back version of the bill will eventually pass next year.
Thanks for your post; it is helpful to me. I agree about the low market cap and that the current price/share (at least at last Friday's closing bid price of about 9.21 cents/share) seems to be a fairly safe level to buy now (and very near a bottom). I also agree with what you said about execution and build-out. I think you are also right about future quarterly returns (if you mean of revenues instead of net profits) one year from now, and I have bought some shares below 9 cents/share (to replace some shares I sold at a considerably higher price). I am trying to buy back the remaining shares (and many more) at a desirable price, but the very low volume is making that very hard to do without making a bid price substantially above last Friday's closing ask price.
That is very true. I probably would never had bought any shares of ASTI if it wasn't for being swayed by some of the posts. A number of times in my mind I said (to myself) so what if a billionaire owns the vast majority of the company - the stock could still greatly suffer [from its then price of 2 cents (and more) per share], even if the billionaire profits greatly from his purchases at 0.01 cents/share; but I bought the stock anyway. Fortunately I've been out of stock at a price of above 1.13 cents/share.
Furthermore, using information from one the sources that was formerly posted in a sticky, I discovered that at least one of the companies which the billionaire bought out (before ASTI) did not become successful but instead performed poorly financially.
Those sure are a staggering number of shares, especially for a company with low revenues and an extremely long history of net losses. Maybe regular investors should avoid buying shares of companies (including ASTI) which heavily rely on the issuing of more shares just to keep the company running/alive. In addition, so far I haven't noticed any announcements of purchase orders by TubeSolar of Ascent Solar's products.
Thanks. That is very helpful. I learned of the stock fairly recently and thus didn't know it was hyped previously, but that makes sense. I am thinking of trying some of the products but as a consumer (not as an investor) I wish the prices/pound were less.
One thing which concerns me about KOMOF is that despite KOMO having a very high percentage growth rate in sales its stock might soon fall steadily and drastically (and has already fallen considerably from 30 cents/share) like that of the Very Good Food Company (VGFC) and of various companies I previously owned. Often times the nonprofitable stocks I buy later fall steadily for reasons which are extremely hard for me to ascertain. Like KOMOF VGFC is a rapidly growing vegan food products B.C., Canada company. VGFC fairly recently entered the USA market, continues to grow fast, and uplisted from the OTC to the NASDAQ, yet paradoxically it has been falling steadily since about January 2021.
Why is this stock down so much (percentage wise) since about January 2021, despite the revenues growing at a rapid rate? Is it because the net losses have also been growing rapidly (due to growth in selling and administrative expenses) and that the net losses are far larger than the revenues? I watched a video by the company and I am impressed with what I saw in the video. I noticed that the company entered the USA market (and that the shipping cost to the USA is modest) and that the stock got uplisted to the NASDAQ. A recent PR by the company says "The Company recently launched into U.S. retail in August 2021 and was in over 396 stores in the U.S. ...".
How many people have tasted the products? Do they taste very good? I notice on their website that the steak product is currently sold out. I wonder how good it is. I don't know of any other vegan steak.
The volume of shares in this stock is very thin (especially considering it is trading at 10 cents or les).
On 12/1/2021 TubeSolar AG filed a SEC Form 4 saying they sold 20,000,000 shares on 11/30 with a weighted average cost of $0.0058/share. On 12/3/2021 they filed a SEC Form 4 saying they sold 24,231,558 shares on 12/1 with a weighted average cost of $0.005/share, but that filing says they still own 905,768,442 shares.
I noticed a moment ago that on 11-30-2021 $KOMOF filed an amended version of their annual report. The file size of that report is about 1/3 larger the one filed on 11-29-2021. The report says the revenues for the fiscal year ended July 31, 2021 was only $62,835 CAD and that the "Comprehensive loss for the year" was a loss of $6,472,583 CAD (shown as a negative profit by stating the loss in parentheses).
I noticed a moment ago that Komo posted their filings to SEDAR on 11-29-2021. See https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00047462 . Seven filings posted that day, including the "Annual Report" for $KOMOF. Since I will be starting work in about 10 minutes I only have enough time to quickly browse them until after work.
I haven't been charged such a fee, whether I purchase $5 worth of stock $1,000 worth, or $50,000 worth. The only fees I've been charged by Schwab are the miniscule SEC fees on sells. Are you located in a country outside of the USA? If so, then perhaps you were charged a foreign transaction fee. I don't buy or sell stocks on foreign exchanges (relative to my country). I also don't call in my orders into a live broker nor through the automated phone system; instead I place my orders online directly from Schwab's website.
If I am understanding you correctly, I don't think I have that problem. However in penny stocks with low volume, it is often times hard to fill my orders in one day. I use the option which is allows multiple partial fills (split into small orders), rather than requiring the entire order to be filled at the same time.
For awhile online brokerages were competing to be the one with the lowest commission charges, but maybe that is now ending.
Part of the reason I opened my account a year ago with Schwab instead of TD ETrade and others was because Schwab didn't charge commissions on OTC stocks, even on the penny stocks. I am thus very displeased with the upcoming increase in cost.
The brokerage commission costs will be going up for some traders/investors of ASTI, according to an email a moment ago from Charles Schwab (pertaining to their account holders) which in part says the following about an increase in brokerage commission rates.
"Online commissions for U.S. OTC securities, including unlisted American Depository Receipts (ADRs), and Canadian securities will increase to $6.95 per trade. The new rate will be applied to trades executed starting on December 6, 2021.
...
Which trades will be impacted by this pricing?
This change will only impact U.S. OTC securities, including unlisted American Depository Receipts (ADRs), and Canadian securities. There will be no changes to online pricing for Foreign OTC securities ($50) or U.S. exchange-listed securities ($0)."
Thanks. That is very good to know. By the way I received an email a moment ago from Charles Schwab which in part says the following about an increase in brokerage commission rates.
"Online commissions for U.S. OTC securities, including unlisted American Depository Receipts (ADRs), and Canadian securities will increase to $6.95 per trade. The new rate will be applied to trades executed starting on December 6, 2021.
...
Which trades will be impacted by this pricing?
This change will only impact U.S. OTC securities, including unlisted American Depository Receipts (ADRs), and Canadian securities. There will be no changes to online pricing for Foreign OTC securities ($50) or U.S. exchange-listed securities ($0)."
Did you receive that information in an email from the company? I asked Mr. White (in emails) weeks ago if their fiscal year has changed and when they will report financials for the quarter which ended July (or June) 2021, but I never received a reply.
ASTI had a 1-for-1,000 reverse split on July 23, 2018; it was their most recent stock split. See https://seekingalpha.com/symbol/ASTI/splits for documentation. I noticed it yesterday when viewing a stock chart (on my brokerage's web site) for ASTI with Events of splits marked. According to the stock chart, on 07/23/2018 ASTI had an intraday high of $0.70, an intraday low of $0.01, an open of $0.01, and a close of $0.14. The close on Friday 07/20/2018 (with the price adjusted due the stock split of the following day) was $0.20. On August 23, 2018 the stock closed at $0.05 and on December 24, 2018 it closed at $0.01 (at least when rounded to the nearest whole cent).
I agree.
Thanks Televet. I'm thinking that also, but I am also thinking that maybe I should have bought it yesterday - especially after reading moments ago a post I made in early October where I said I would not consider buying back the stock back unless it dropped to substantially below 0.85 cents/share.
I think it is very interesting that the stock closed at about 0.8 cents/share yesterday (and had an intraday low of nearly 0.6 cents/share), since I notice that on 10/10/21 in post 53102 I said the following. "I currently don't intend to buy back ASTI unless the price becomes much less than 0.85 cents per share. [Page 31 of the prospectus says that the high price of $ASTI stock in the year 2020 was $0.0085 (apparently the closing high instead of the intraday high).]" I had forgotten all about that old post of mine until a came across it moments ago. Noticing this makes me now more inclined to buy back shares of ASTI.
Notice that the press release about the reverse split says "... the Company’s board has approved a Reverse Split at a ratio of between 1-for-1,000 and 1-for-10,000". Since ASTI said they might do a 1-for-10,000 reverse split, that implies they think the stock might drop down to about 0.1 cents/share (or even 0.01 cents/share), since $0.001/share times 10,000 = $10/share (and $0.0001/share times 10,000 = $1.00). I am not aware of seeing any reverse split of such a magnitude as 1-for-10,000, and I don't think I even saw one of such a magnitude as 1-for-1,000 but perhaps I did for the latter.
It is encouraging that the press release of November 18, 2021 says the following.
"If implemented, the Company expects that the Reverse Split would become effective in late December 2021.
Following the implementation of the Reverse Split, the Company intends to apply to up-list its shares to the Nasdaq Capital Market."
Actually the SEC filings dated yesterday through today say TubeSolar AG disposed (sold) shares of ASTI this week (from the 16th to the 18th of this month).
Stocks which announce a reverse split are typically ones having major financial problems (not just a problem keeping the stock at a respectable price), and the announcement of the reverse split thereby draws attention to the problems, which in in turn is discouraging to many investors. As result, the stock usually falls considerably in response to the announcement, and also immediately after the reverse split takes place. At least such have been my observations.
At least one of the filings (and/or a press release) about the future reverse spilt does say there might be an eventual up-listing to the NASDAQ.
Yes, TubeSolar AG disposed (sold) millions of shares of ASTI. See the Form 4 filing which was made today (the 19th) which says they disposed of 36,500,000 shares on 11/18/2021 at the weighted average price of $0.0085/share. See also their Form 4 filing which they made on 11/18/2021 which says they disposed of 6,500,000 shares at the weighted average price of $0.0133/share on 11/16/2021 (the day before the SEC filing which says there will be a reverse split), and that they disposed of 7,000,000 shares at the weighted average price of $0.0129/share on 11/17/2001.
Notice that ASTI's 10-Q "For the quarterly period ended September 30, 2021" says that revenues for that quarter was only $11,723 whereas the loss from operations was $2,660,427.
In light of today's and yesterday's stock prices I now don't mind that I did not buy back $ASTI at about 1.00 cents/share on about Oct. 22nd. I am glad I wasn't holding it when it dropped suddenly yesterday. Maybe now I should buy back shares, but I am hesitant to do so.
Where do you think the bottom will be for KOMOF's stock price during the next 4 weeks? I am concerned because I see that the stock is falling fast, even having dropped to about 13 cents/share intraday today. I bought in at about 17.9 cents/share and I notice that except for a few minutes per day, the trading volume is often less than 1000 shares per minute and now the spread between the bid and ask is sometimes slightly more than one whole cent. Those conditions make it very hard for me sell my position without place an asking price below the prevailing bid price.
Often times when I sell a stock which fell fast and far, it bottom out the same day or at least by 1 day later. I don't want to make the mistake of getting out, only for the stock to rebound sharply. Nor do I wish to hold only for the stock to drop much further before reaching a bottom.
I notice that some of the wording that stated in the name of Nature's Fare Category Manager is identical (and in other cases nearly identical) to that of the Grocery Merchandising Coordinator at Nesters Market (in the Nov. 2 PR). That has me concerned because it makes wonder if they really said those thing, instead of Komo making up those statements and falsely crediting the statements to them. But perhaps Komo wrote the statements for them and asked them to sign the statements, and perhaps Komo received their consent.
Below I highlight identical statements in red and nearly identical statements in green.
Note that Erin Jane, Grocery Merchandising Coordinator at Nesters Market said the following. "... we wholeheartedly support locally-owned Canadian businesses whenever possible, and look forward to growing into a successful partnership with Komo Comfort Foods," says Erin Jane, Grocery Merchandising Coordinator at Nesters Market. "We stand behind Komo's delicious and healthy plant-based comfort foods, and we know it will soon become a Nesters customer (and staff!) favourite."
Note that Nature's Fare Category Manager Jennifer Oravec said the following. "We love supporting locally-owned Canadian businesses whenever possible, and look forward to growing in a successful partnership with Komo Comfort Foods. We know these healthy plant based meals will soon become a Nature's Fare customer favourite."
Today's good news is only about expansion within British Columbia, Canada. It would have nice if it included expansion to other provinces of Canada. Maybe the stock has been dropping lately because so far the reports of expansion into stores do not include expansion in the U.S.A. even to beyond two provinces of Canada.
I notice that some of the wording that is stated in the name of Nature's Fare Category Manager (in the November 09, 2021 PR) is identical (and in other cases nearly identical) to that of the Grocery Merchandising Coordinator at Nesters Market (in the November 02, 2021 PR). That has me concerned because it makes wonder if they really said those things, instead of Komo making up those statements and falsely crediting the statements to them. But perhaps Komo wrote the statements for them and asked them to sign the statements, and perhaps Komo received their consent.
Below I highlight identical statements in red and nearly identical statements in green.
Note that Erin Jane, Grocery Merchandising Coordinator at Nesters Market said the following. "... we wholeheartedly support locally-owned Canadian businesses whenever possible, and look forward to growing into a successful partnership with Komo Comfort Foods," says Erin Jane, Grocery Merchandising Coordinator at Nesters Market. "We stand behind Komo's delicious and healthy plant-based comfort foods, and we know it will soon become a Nesters customer (and staff!) favourite."
Note that Nature's Fare Category Manager Jennifer Oravec said the following. "We love supporting locally-owned Canadian businesses whenever possible, and look forward to growing in a successful partnership with Komo Comfort Foods. We know these healthy plant based meals will soon become a Nature's Fare customer favourite."
What you said makes sense and Komo admitted in a press release about the uplisting that one of the requirements is to "... be current in their disclosure". [See https://ir.komocomfortfoods.com/news-events/press-releases/detail/55/komo-plant-based-foods-uplisted-to-otcqb-venture-market .] In that press release Komo also said the following.
'The OTCQB is OTC Markets Group's premier market for early stage, investor-focused U.S. and international companies. ... "Listing on the OTCQB Venture is another important milestone and part of our long-term strategy to introduce Komo's compelling story to the U.S. audience," says Komo CEO William White. "The OTCQB listing expands our reach into the institutional and retail investment community within the United States, which promotes enhancing both visibility and liquidity with the access to both U.S. institutional and retail investors as we look to grow our global shareholder base."'
I thus wonder why they haven't yet filed a quarterly report for the quarter ended June 30, 2021. Maybe it is because the reverse merger takeover by Komo of Fasttask Technologies Inc. became finalized in June 2021 (see https://ir.komocomfortfoods.com/news-events/press-releases/detail/41/komo-plant-based-foods-inc-announces-trading-to-begin-june) and that preparing the financial reports for the new merged company is complex and is thus taking time. Part of the problem might be that apparently prior to the merger Komo's quarterly periods ended in different months than that of Fasttask, such as April 30, 2021 for Komo versus March 31, 2021 for Fasttask.
Also if too much time goes by without financial reports being filed KOMOF would be removed from the QB board of the OTC Marketplace, dropping to below the Pink Current status. I would be very discouraged if such happened. YUM could get delisted from the CSE if too much time goes by without financial reports being filed.
Komo Plant Based Foods Inc. needs to file more financial reports.
I notice that the most recent one filed for Fasttask Technologies Inc. was for the quarter that ended on March 31, 2021. I also notice that the most
financial report for Komo's operating subsidiary ( Komo Plant Based
Comfort Foods Inc.) was for the quarter which ended on April 30, 2021.
I notice that so far no financial report has been filed in the name of
Komo Plant Based Foods Inc. We need a report for Komo Plant Based Foods Inc. for the quarter ended on June 30, 2021 or on July 31, 2021.
I guess the most recent complete fiscal quarter for Komo Plant Based Foods Inc. ended in September 2021 or October 2021, but for which of those two months?
Well so far this morning the stock isn't responding to the press release. Perhaps most the trades which took place thus far this morning were placed prior to today. Hopefully the stock will beginning jumping up (in response to the press release) after 10 AM ET today.