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With $SRNW Cancellations, and $WNFT delays, this is a strong indicator that this ticker could be the first of the trifecta.
I still have doubts that some skelatons could come back from the dead, but given the current climate, I believe $SRNW is the strongest.
Good to be back.
$1.40? Small Fries!
Where's my $2+ Crowd at?? :)
$SRNW
Yes, I agree that the shares tied to former debts gets interesting.
I wonder if George can prove that the debts were fraudulent in the first place.
Why Fraudulent?
When going through $SRNW's history, they would continually issue new debts to pay for old ones.
Example:
- 1m is owed 1yr from now, with 10% interest. This would mean 1.1m is owed in 1yr's time.
- When payment time came, the debtors would cancel the old loan, take shares in payment, then give management ~1.1m in exchange, also at 10% interest.
- This pattern repeated 5 or 6 times. Totally strange behaviour..
Note:
These aren't the exact values, I am just using these values to illustrate a point.
In addition, I remember reading a disclaimer that said something along the lines of "$SRNW is obliged to pay 90% of any profits split between these two offshore accounts". Both of those accounts linked back to the lenders....
That got me thinking, was $SRNW formerly used to launder money?
1) Issue the company debt.
2) Instead of collecting interest, collect shares as payment. Rinse and repeat.
3) Should the company post profits, then route a majority of the gains to offshore, tax-haven accounts (they were held in Lithuania and the Cayman Islands).
That's why I like our board here. 99% of GS investors don't care about $SRNW so it keeps the drama out, and allows for honest conversations to become easier.
Sup $SRNW Fam, it's been a while.
Not sure if this has been discussed here, but here is what I believe is going on with those Feb.10th Filings:
1) As per the Feb.17th Form-10, previous lenders are barred from presenting claims against new Stratos Management:
- https://sec.report/Document/0001493152-22-004835/
- Page.2
This is the most likely outcome. If we were in Calasse' position, surely we would also sue Cyrus as well.
The shares are already cancelled, and there is nothing that Calasse can do about those 50m shares.
Yes with the recent (and more complicated) $GOFF share cancellation, I am sure $SRNW share cancellation will come soon enough.
In addition, with the $GOFF Forward Split, there is a high chance that $SRNW will do the same when its time comes.
Exactly, I added here as well. Great time to buy
I agree, it wouldv'e been nice to see an update on the SS of $SRNW. To me, it looks like the main purpose of this Form-10 was to update the Preferred Share purchases.
Looking over the form-10 again this morning, I couldn't find any new other information.
One thing to consider is that share cancellations can take a while. I wouldn't be surprised if GS is still in a legal que for the cancellation request. And once it is GS' time, the Judge still has to review all of George's outstanding evidence on why these shares should be cancelled.
Synopis?
All of this = Time.
Good news on form 10s! Full breakdown coming this weekend.
Found so far:
Dec.10th - 300k additional Preferred B shares issued to GS. Each share has 10,000 voting rights.
Dec.29th - 300k additional Preferred A shares issued to GS.
Less than 10,000 shares pushed this from $0.55 to $0.9 this morning....
Also someone just loaded 25,000 shares at $0.90. Seems like that person is willing to get in no matter the price!
What happens when the $GOFF / $GVSI People start putting in 100k+ bids on this?
Tick-Tock everyone.
Yes, you can buy $SRNW and $GVSI through the following Canadian platforms:
Scotiabank I-Trade
Quest Trade
BMO
Excellent reading between the lines! I didn't really think about the "would have been effective" part.
So $SRNW family, I ask you this question:
Why did George PURPOSELY remove the form-10? Why not just let it become current, and ammend it later?
Look through this board for evidence.
Don't think this was just a random decision.... I am more confident in this board's ideas than ever before now. And the fact that this is flying over the heads of 99% of George investors is just insane!!!.
I was also reflecting on the free shares that move around here.
No one talks about $SRNW because no one can control the float. It is locked, and anyone with 100k+ shares is a whale. And think about that for a moment. Someone with a 30-50k USD position (depending when they bought) can control the price.
To do the same in $GVSI, it would take 20x the amount, or 10m+ shares. Even then, there is enough trading to swallow that up.
Although I find it sad that $GVSI-Only investors seem arrogant to other 2 options, I won't be helping them anymore. No point. If people want to research, a few hours of reading could change their entire perspective. $GVSI investors are in for a rude awakening when 200+ people realize you can't just buy 100k shares in $SRNW without massively disrupting the share price.
I was thinking about the share cancellations the other day, and came to the conclusion that George is purposely keeping $SRNW quiet.
I know we have talked about this for a long time here but hear me out. Think about this, if this same situation happened in $GVSI, and 63% (or ~1.51B shares) in the OS could be cancelled, do you think he would keep that quiet? Do we really think his ego could contain that information?
Personally, I don't think he could. He would be too proud (and rightfully so) to find such an accomplishment.
No, there is something else brewing here that we have only scratched the surface of. Now I could be wrong on all these theories, but if I am reading Georgie right, he doesn't want people to buy $SRNW yet.
Man you do a good service making these $GOFF videos. For my friends in the who don't have time to always be on Twitter, I always share these videos. They are great, short synposis' of what the current situations are.
And you are super detailed in your videos too. I remember when the 3 ticker Twitter accounts were made, George forgot to retweet the "GVSIotc" account. You commented on that, and how it caused fear on social media with people calling it fake. That was bang on. Many other creators would've just said "hey look all 3 Twitter accounts are made!", without picking up on that minutiae.
Your finger is on the pulse of the trifecta, and the additional insights you give are always welcomed!
PS:
I get Christian Bale vibes from your look and voice. Not sure if others get that same impression so I'm just throwing that out there.
Hahah yea I feel you. Nothing to do until that new Form-10 is submitted, and then we can review what changes were made. But even with that, it'll still be on the Expert Market.
Sit back, relax and pop some popcorn when the show starts. Fireworks when this is Pink Current.
Exactly. There was a few times were DAYS went by without a single share being traded.
I remember seeing 100share trades causing +-10% changes in price. The key here is if people are dumping due to another 60day delay, then to do what @Keith is saying and buy super small lots.
That's why I was chuckling last week when GVSI people were saying they were gonna buy 50-100k lots of SRNW like it was nothing lol. Smart money knows to hold this and forget about it
Congrats $GOFF holders. Only up from here!
Remember it hit $0.28 just on hype... This week will be good to the loyal investors who stood through the Expert Market!
Hah! Yea I got the denominator mixed up.
~63% of shares CAN BE CANCELLED, which would leave 37% of the float:
0.55 / 0.37 = $1.4865.
That number is in line with what you posted! I must've been tired last night hahah
WCC.
If those shares are cancelled, just the reduction alone increases the fair market value:
Current Share price is $0.55 with 235m OS.
Due to the cancellations, if the OS is reduced to 86m, that represents a 63.4% decrease in the OS. That means the fair market value should be:
$0.55 / 0.63 = $0.873, given NO OTHER UPDATES!
Just basic math people!
Then add in the flood gates of $GVSI & $GOFF people all trying to buy 100k+ $SRNW with their new found profits, and what will happen?
A 10,000 share order can barely get filled. If so, there is huge swings in the price. What will 100, 100k+ Orders do the Share price???
Ka-Boom!
PS:
I don't know who else follows the tickers on Twitter here, but the number of people who are just assuming they can get a large $SRNW order with no problems is staggering. Not trying to be pompus over the other tickers, but I can't help but chuckle at that logic.
If this happens, I expect a day where we go from $1-2 (while in Expert) straight to $10 on a single day. Simply put, the shares just aren't there.
WCC.
Go for it, no one here will stop you.
But here do know one thing. We believe in $SRNW too :)
A High-level Overview:
This could actually be a huge blessing in disguise:
How is this a blessing?
I hope to outline below:
1) All Form-10s were filed at the same time.
They are largely identical, except that $SRNW had a sneaky share cancellation comment included.
2) If this cancellation was granted by Clark County (the judicial ring the cancellation was filed in), the CHANGE in share structure would be material to the entire filing.
Looking over the Form-10, the 235,176,673 OS is referenced 26 times.
The following types of documents would need to be ammended:
- Item 4, Security ownership of certain beneficial owners. (p.12)
- Section 8.b), Holders (p.14)
- Balance Sheet (p.F-1)
- The March.31st 2020 & 2021 3Month-End Income statements (p.F-2)
The list goes on....
As seen, many things on the Form-10 would need to be changed.
Form-10 Here:
https://sec.report/Document/0001493152-21-023904/
3) The withdaw request symbolizes a change in materiality.
Not only are they withdrawing the ammended submission, but they specifically requested to have CREDITS ON ACCOUNT. That to me suggests that they full expect to resubmit the form-10.
Withdraw request here:
https://www.otcmarkets.com/filing/html?id=15369787&guid=HH3wkWli46_hh3h
4) With the most recent OTCpinkSRNW tweet, the specific SEC comments surround the share structure.
Tweet here:
$SRNW has withdrawn its Form 10 but will file a new one soon. This was due to some unclear transactions by previous management & the need for clarity with the share structure. While the Form 10 would have been automatically been effective, it is better to be precise with the SEC.
— OTCpinkSRNW (@OTCpinkSRNW) November 20, 2021
So is everyone and there mothers!!!
Trust me, EVERYONE is thinking of dumping $SRNW now, loading $GVSI & $GOFF, then buying $SRNW later for a Feb pump.
And with the way $SRNW has been trading lately, good luck getting:
- A predictable price
- Any sizable amount
Not bashing you, just trying to show you what others are also thinking too.
Do as you please!
Doesn't the Sept.27th filing not count as they forgot to check the boxes though?
Hence the refiling for all 3?
Not bashing but if there was a clerical error on the first submission, of which was fixed with the Sept.29th Form10 Reissuance, wouldn't that nulify it from being effective 60days after?
Yea I was thinking if Clark County granted the debt resolution, and thus cancelled the shares owned by I2BF & Blue Day, that WOULD be material enough to warrant an entire new Form-10...
Think about it. If those shares were cancelled, George would have to rewrite:
- the history-section of the Form-10.
- Redo the share ownership documents.
- Redo the equity statements...
So many things would need to be updated!
Another Note regarding share cancellations:
Anyone else find it interesting that previous restricted shares owned by $GVSI & $GOFF management have transferred hands, but $SRNW restricted shares have not?
If we add all of the former restricted shares owned directly, or indirectly through LLCs, by Directors and Officers, this is an additional ~38.65m more shares that could be cancelled...
This would drive the true OS to 47,174,475 shares.
(235,176,673 - 188,002,198).
Here was my breakdown of share ownership:
- Disclaimer*
I messed up the Stephen Magami part. The documents said he has control over 29,620,484 shares indirectly through his LLCs MA Green and SGA Capital; Not that he holds ~29m personally, and another ~29m through these two LLCS. Apologies!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165626519
SO it looks like $SRNW will take longer than anticipated.
Sucks to us loyal shareholders, but it could also be a blessing if you can load...
There is a saving grace that I haven't seen discussed yet:
"The Company also respectfully requests that all filing fees submitted to the SEC in connection with the filing of the Registration Statement be applied to any future filing of the Company on Form 10."
If $SRNW had no intention on filing a Form-10, why wouldn't they just request a full refund?
This to me suggests that they want to file their Form-10, get Pink-Current, and still do a Reverse Merger. George HAS NOT abondoned $SRNW.
yes this times 100.
Even with the ties to old debt on those 150m shares, it is not guaranteed.
I am surprised the "OTCSRNW" twitter account hasn't made reference to the progress of these share cancellations... George must want it on the down low.
Anyone know how to look up a Clark County Application status? Need to do some homework regarding the $SRNW Share cancellation status.
When i go on the Clark County online documents webpage, I can only find the search feature for cases (see below):
https://www.clarkcountycourts.us/Portal/Home/Dashboard/29
This search engine doesn't search Court applications or appeals.
Any thoughts?
Yea if he can wipe this convertible debt out, then I am sure he will target the other shares owned by previous Management. That would cancel another ~30m worth of shares.
There are also some mystery shares owned by previous investors (check my other posts if you wanna dig deeper), who weren't management but looked to be insiders.
No idea if those can be cancelled or not
nah, nothing to be worried about over here.
$SRNW previous debt was tied to 2 major shareholders who held shares as a form of convertible Debt.
As seen in the Form10-12G, it shows that $SRNW applied to have it cancelled on Sept.20th,2021, under rule NRS 11.190(1)(b). After reading up on this rule (Link below), it essentially says that the contract writer has 6years to form an action (ie: claim the debt).
Since the company was deregistered in 2010, and these debts range from 2008-late 2009, this is more than the 6year statutory limit for pursuing bad debts.
So what does that mean for $SRNW holders?
That the likelihood of the ~150m shares owned between I2BF & Blue Day Ventures LTD is very likely to be cancelled, provided the District court of Nevada, Clark County, grants the application.
rule NRS 11.190(1)(b):
https://www.leg.state.nv.us/nrs/nrs-011.html#NRS011Sec190
sure it is on the Form-10 and it shows up at a few spots. A good visual breakdown occurs on Page-11:
https://sec.report/Document/0001493152-21-023904/
Yes I agree. But if fully diluted, that would be:
350m + 7.5m = 357.5m Total.
I doubt they would issue more shares, and I am positive this clause is only there if an incoming, legitimate business needs to raise capital (on a bigger exchange)... But I still get a little uneasy seeing those clauses lol.
QUESTION TO THE COMMUNITY:
Did anyone see any update of the conversion rate from Preferred shares to Common shares?
I think from the old filings it was like:
1preferred share = 10,000 common shares...
I didn't see any updates in the Form-10 discussing an updated conversion rate.
Yup I agree! More Cancellations would be ideal.
One thing I noticed on the Form-10 is the right to issue more Preferred shares to prevent a takeover. I know this is stated to prevent a hostile takeover (through majority voting rights), but did anyone else question this?
In addition to the Preferred Share dilution, I noticed this 350m Common share dilution clause. I know ~150m shares have been applied to be cancelled, and I suspect more will be cancelled, but this still puzzles me.
After a few weeks of thought, I can only think that it has to do with increasing the float if a high percentage of the float is cancelled.
EXAMPLE: If the current ~235m OS goes down to 15m (~94% decrease in the float size), this would reserve the RM company to increase the float again. It is true that a SPAC company would want a Low Float Shell, but something with that low of a float could easily be manipulated by a few big shareholders.
What's Ihub thoughts?
What did people think of the dilution clause in the Form-10? Thought that was interesting despite applying to cancel debts....
Great find Keith and thank you for sharing!
Since everything is pretty clean now, and the Form-10 said the company went completely quiet in 2014 (Defunk?), from 2014-2021 there shouldn't be anything to review.
And as the history from 2011-2014 is disclosed in the form-10s, this should be resolved quickly!
WCC.
Yes unfortunately I think all US Brokers have stopped Orders of Expert Markets. Only a few Canadian Brokers can, and im guessing some European Brokers as well
CANADIAN BROKERS
This is correct. In Canada, I use TD Webbroker and Interactive broker, both have blocked the purchasing of companies.
I was just updated on Twitter that RBC has stopped as well.
So for now, it looks like these are the only two options:
Scotiabank I-Trade
Quest Trade.
WCC