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the retail is not smart enough to see the problem. its all retail activity these days - the daily trading volumes are tiny. <<$ 100-200K
thats BS. Deal closure is a major material event. 8-K should have been issued.
there is no volume! almost nobody is trading this, except a few flippers. $100K total for the day traded. this is ~78 times lower volume when compared to when this was running. we were trading $7.8M (!!) per day back then. Lack of volume last 10 days = lack of confidence in this management.
if some of the heavy positions wanted to get out - they couldnt!
issue preferred shares=get majority vote
the word is other companies in nevada have done this in similar situation.
can they issue preferred shares to get majority vote and approve AS increase and RS? the co is incorporated in nevada….
are you serious ?!? LOL you are posting outdated information…. if you can not even find a most current 8-k …i don’t know what to tell ya.
big dump coming. you have been warned.
They violated SEC rules by not issuing 8-k in a timely manner within 4 days of the july 31st deadline. thats a 100% fact.
Why would SYSX be ok with knowingly breaking SEC rules...? Thats the question for the Incompetent management.
how’s missing 8-k reporting deadline not bad?!?
especially with 1:500 to 1:1000 RS and AS dilution vote coming up shortly?
only $63K traded today so far. volume is tiny.
this will have a nasty gap down. people refuse to believe that they have been duped by the company. when everyone tries to run for an exit ...
Now SEC gets involved with fines / any additional actions - for missing 8-K.
he is incorrect. there was a material event. 7/31 deadline outcome should have been reported. extended/cancelled or completed - they had to update on time.
SYSX: Reporting Status U.S. Reporting: SEC Reporting
Form 8-K is known as a “current report” and it is the report that companies must file with the SEC to announce major events that shareholders should know about. Companies generally have four business days to file a Form 8-K for an event that triggers the filing requirement.
wrong. extended deadline or completed deal are both material events that should have been reported via 8-k filling.
where is delayed 8-k? SEC fines are coming for not disclosing a material event within required 4 business days.
im not bubba. and yes, if this ends up in dilution / wipe out of common share value - mr. bigger should be investigated by SEC for pumping (via shareholder letter) and dumping his millions of shares on retail after the letter release. this was a scumbag move.
chart, volume and price action tell the story here.
nobody but typical retail otc are buying since april. most are deep in red by now. smart money - mr.bigger, dumped his position into retail hands and purchased debt instead. why? so the company can’t dilute his position, like they can with common shares. he also ruined his reputation by posting that super bullish shareholder letter and then dumping on retail and then not even bothering to comment. i get it one should always take profits, but not by pumping to generate liquidity to sell into!! snake move.
this is BS there’s no buying volume look at the chart and daily volumes. if someone was buying a lot of shares the chart, the volumes and the price action would reflect this.
so far mr. Bigger was correct with his call to liquidate his common SYSX shares in 6-8 cents range.
i wonder if he got early wind of AS/RS coming … wouldn’t surprise me if they “tipped him off”. its good to be a part of the “club”. and we aint in it…
when you have $4 million invested in a company you have access to a lot more information than simple mortals do. clearly he views debt as better investment here. not common shares.
my advice: get rich quickly and buy a couple mil worth of notes like him.
they are playing dirty OTC games now
DEF14A is out. they want to dilute common shares before closing deal. https://flashalert.me/?symbol=SYSX&source=SEC&referer=https://twitter.com/&url=https://www.sec.gov/Archives/edgar/data/1737372/000121390022045055/ea163888-defa14a_sysorex.htm&s3=SYSX/2022-08-05/16-06-28_000000/DEFA14A/976b40a8714a53ad6645861fa86026df/0001213900-22-045055-index.htm
if news is good and deal is closed, why not report it early? On Friday open (29th) before deadline on sunday (31st) OR first thing on Monday (1st) morning? Because there is no good news. Thats why.
Pending dilution (RS / AS) and the pending lawsuit are the issues that they are resolving first before anything happens here.
Add all facts together so far...
Without pending AS/RS and without that lawsuit - this would have been a completely different story (and PPS).
good news would have been out first thing on monday. odds are its another extension/delay whatever. leaving it to report to last minute..
you are absolutely insane.
If a Court Rules Deadline Falls on a Weekend, Will it be Added for the Previous Friday or the Following Monday?
Answer:
Deadlines that fall on the weekend will generally be scheduled for the Friday prior, but this does vary by jurisdiction.
august 1st was first business day
The filing is late! Aug 4th = 4 business day deadline. Aug 1, 2, 3, 4 = 4 days.
What happens if you file an 8-K late?
Form 8-K Filed Late, SEC Action: Late filing will likely result in administrative action. The severity of the penalties depend on the reason for filing late and when the report was eventually filed. Fines are typical. For severe cases, a company's Exchange Act registration may be revoked
8-k deadline missed…. they had 4 business days to file 8k. August 1st through August 4th.
will delay till 8/31 very likely
The only positive thing about SYSX is this:
These $SYSX Notes are now mine. It often feels like throwing yourself into an insanity vortex. Unreal distressed opportunities across a broad spectrum of securities in this bear market. Some will be zeroes with a few 100 to 1. #fishing 🐟 pic.twitter.com/H0kROfcGi1
— Michael Bigger (@biggercapital) May 28, 2022
Bigger Capital Letter to Sysorex Shareholders https://t.co/GCYqjXuJkE $SYSX
— Michael Bigger (@biggercapital) May 2, 2022
Bought $1.0 million $SYSX convertible notes. Now long $4.0 million
— Michael Bigger (@biggercapital) May 13, 2022
Stoch RSI topped out: 95-96% on daily last two days.
The lawsuit against SYSX is 1st big problem. And it is directly related to: Pending R/S and A/S raise - 2nd big problem. No deal will happen until lawsuit is resolved and until the share structure is finalized!
Look at what happened with George Sharp and WNFT. The lawsuit filed by previous shareholder killed the merger in the works !!! :
Also, you all knew about the Calasse appeal. Why would you not think that it would affect negotiations? How can a merger take place when the share structure is not certain? You all need to take a breathe and think before you hit the "BUY" button. https://t.co/LSlQSykKBO
— George Sharp - Advocate for truth in the OTC (@GeorgeASharp) July 8, 2022
i bet it’s delayed until after AS RS vote again. they have to finalize share structure before the deal is closed.
give it time
Pathetic $130K total traded today.
it all depends on what they PR next week.
nobody is shorting this LMAO
$199,000 volume day. Thats 3 average positions size. Small volume day action.
quick flips cashing in EOD