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I just bought back my other 300 shares at $261. Low enough for me, and I didn't want to miss out.
Still the wild west in our market. this is from TODAY.
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Poly Network, a protocol for swapping cryptocurrency, including bitcoin, announced on Tuesday that it was hacked, resulting in the loss of $611 million. The hack is suspected to be the largest fraud in "decentralized finance," or DeFi, in history.
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"We should go over $400 tomorrow"
NOt a chance. That's not bullish, that's ... well, way too bullish, IMHO. At least for tomorrow.
blow out earnings!
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Coinbase Global beats by $3.85, beats on revs; sees retail MTUs and total trading volume lower on sequential basis
4:10 PM ET 8/10/21 | Briefing.com
Reports Q2 (Jun) earnings of $6.42 per share, $3.85 better than the S&P Capital IQ Consensus of $2.57; revenues rose 1040.2% year/year to $2.03 bln vs the $1.83 bln S&P Capital IQ Consensus.
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$6.42 per share versus the expected $2.57?? WOW
Revenue 2.03B versus expected 1.83B. SHows that even with BTC going down this quarter to that low $30K range, it just meant more volume for us.
Expects lower revenue in future? yep. they have been saying that since the beginning, so not news.
The stock should LIKE this news in the AM. Right now? Hard to tell, as it is vacillating all over the place.
I liked the numbers. (but what do I know! HA)
bought some back.
Earnings are out, good per share number. Higher revenue than expected. Now, no surprises should come for a while, so bought back some. At $273.70 ave. Versus selling earlier today for more, so back in the shares and a lower overall amount invested in the company. May buy back the rest tomorrow, or may not. May move on to other things. But back to 600 shares instead of 900.
Will write some calls tomorrow, after open.
After close
T S.
Stands for temporarily sold. $280.49 ave sell.
Will buy back ... for the weekly income on the calls. Just don't know when yet. Probably today.
I write every Monday. Except this week. I'll wait for earning, and respond immediately after release. I go as high as I can on the calls to figure they will NOT get called away. Although this week was close. I only get $1 per share, by writing so far out of the money, but hey ... that's $52 per year cash flow while holding. Probably about $40 in reality, as I bet I have to buy to close 1 or 2 a year if it jumps. But I'm anticipating that already. Still, getting $40 per year while holding is a sweet return on investment of about $250 into it.
Good luck to you.
Sent from Yahoo Mail on Android
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whew!
Well, my $260 calls were NOT called away from me. And next week, I'll writing much higher strike prices. Great move this week, and almost took me out. But I keep the premium and continue to hold the stock. Another "dividend" in hand.
Also the $215 puts were nowhere close to being put.
Both sides winners again. (ANd even if it gets called away from me some week soon, it means it went up a lot in a short period of time and is a winner anyway)
I wish they would raise the stock price as well as raising the quality of the board.
"Would like to end the week in the $270+ range"
I need my weekly calls to expire first. Don't want it quite that high until next week, with earnings. And even much higher than that maybe.
I'm going to hold off writing for next week, and wait for earnings first. Then write, and hopefully at a new higher strike price.
Hopefully!
Analysis #5: Expansion.
Final post for today. And if you have questions or comments and post them, I’m not going to reply. This was just a synopsis of the company that I put together for a different reason and I decided to take my analysis and put it here. Okay, on to the last one.
I already said that I think expansion should happen next year. And happen at a faster pace than it has so far. As we finally get structure into what we are doing, and SOPs for our cafes, we can open more of them faster. Plus we have unique opportunities as numerous restaurants are failing, and buildings are coming open right now and in the near future. No, I do NOT think we should have signed leases during the pandemic. I’ll even disclose that we HAD a lease on an LOI for Denver in 2020. It was for an okay location and a good building at a decent price. However – since the pandemic, I now know of two better locations with existing restaurants that are failing (my condolences to them. I do NOT wish that on anyone else) where we would have a better spot and the rents are now lower than our LOI. The landlords are wanting to replace the current tenants. The intricacies of evicting or leaving are long though, and neither one is available at this time. I think one or both WILL come available, so waiting has been the RIGHT decision. The LOI we had expired, and Snakes let it end. I agree and feel waiting has been a GOOD choice. Not only in Denver, but I have heard of other cities having the same situation. Even Tempe has some locations open on Mill Ave that were NOT available when we lucked into our current location. Things have changed, and opportunities are coming. It is still early though. When the timing is right, I hope Snakes jumps on them. Patience is the right move though right now, in spite of some saying we should have signed leases already. I know. I have been out there.
Anyway, I think an opportunity is coming for us to expand in numerous cities, in an even faster way than the company probably wants. I think at that time we should jump in it. Yes, it will mean more dilution for the first cafes, but as we have 6 cafes generating positive returns and one that is in construction phase generating losses, we should still be positive overall. When it was 2 open cafes and one in construction, that ate up our profits from the cafes. As it turned into 4 open and one in construction, it was a little better. Now, at 6 open and one in construction, it shall be easier. When we get to ten open, we should be able to do two in construction at one time, and we start doing them in multiplies. Granted, we need Toronto to AGREE to this, and DO it, which has been their shortcoming in the past, but this is being addressed and I see the expansion happening in 2022 that we need to start happening. Not finishing until maybe 2040 (HA) but we could expand for decades! As we have more and more open, all generating positive cash flow, it will become easier and easier to expand new locations, and we should have a well compensated CEO and USA Expansion team leader by that time. We will be bigger as a company, by a LOT, and bigger in shares as we dilute for the first cafes, but eventually as we keep getting positive cash flows from more and more cafes, we should do a share BUYBACK and that’s the opposite of dilution. (my guess is we are talking 2025 – 2027 for ANY buyback, so please don’t think I am talking about now!) For now, we put together groups like we did for Tucson, dilute to them for shares to get their money, and grow the company. That growth makes the stock go up, they can sell for profits, and that makes them wish to invest again in the next location. Keep that up until the company finally says they won’t want money for the next expansion, and then the company does it on their own.
A plan. A long term plan, but a solid plan. And one I have been putting my money behind, as I have become one of the main investors in that plan. Everyone already knows that. I’ll add a few more players when and if Denver comes on track for me, and expansion plus revenue and profit gains shall continue to grow.
That brings up a point people have asked me about. Yes, I think Denver shall still happen. Waiting on those two restaurants to finally move out and hoping to take one of their spots. But that’s MY thought, and I’ll also repeat that I am NOT the company. They may not move forward with anything I think they should. I do NOT know. When we get Tucson looking good and I feel comfortable, I’ll discuss Denver with the company and ask them what they think. There were numerous people form this board that invested in Tucson. I expect more people will want to invest in Denver if and when that time comes. That’s how we grow. We get people, like you and me, to put in money directly into the company instead of on the market, to get them money to expand. Then we dilute a little, comparatively, and open a vew café. IF the company will still go that route. We all know that Toronto has done things we don’t understand, so we’ll see at that time I guess. I just hope they get back to expansion, and are willing to dilute for a GOOD reason and offer shares for money so we can GROW into new cities.
That’s my thoughts. On lots of topics. Will ANY of it happen? I’m not part of the company. I don’t know. But as an investor who can do more than just buy some shares in my Etrade account, I’ve tried to MAKE things happen, and we’ll see what the future holds. I know that the cafes are running full and have turned profitable again. At least in the USA, and soon very probably in Canada. As we show a better reality, instead of just “promising” one “soon”, we should go back up in price, and if the pendulum swings past reality on the high side again we shall even be higher than we should be. Then, we can do expansion with less dilution. I also think the desire for many people to invest in a location shall be higher when we see the stock price finally go back up. Another reason to wait for the expansion. And yes, with the reopening of the locations and the streamlined and less costly expenses of Toronto, I DO expect the price to reflect that over the coming months. I truly believe the price is too low and shall correct back up. As the numbers increase starting in this very quarter, we shall also see other reasons for the stock to go up. So less dilution and more expansion SHOULD be our future.
For now? I’m a shareholder. I’m a bull. MOreso of a bull than I was a year ago, as the price is lower AND the cafes are reopening. I think the constant hammering has affected us, and much of it is undeserved. Some IS deserved, but I think our concept is good, our management is improving in personnel AND in knowledge how to DO this job, and there can be no denying we are BIGGER than we were a year ago, when the pandemic hit. We have six locations open right NOW, another soon to be opened, something about a dispensary opening soon (I am ONLY interested in S&L cafes. I focus there) and opportunities to open in other cities in 2022. And beyond. I just can’t tell you if it WILL happen, but I, with my bullish glasses on, see the potential. Having opinions about the future is all ANY of us can have. Mine show a company that finally rights itself, starting NOT with the construction of future venues, but starting with construction of venues over the PAST YEAR that are going to contribute to the future starting … THIS quarter. Chicago is mostly new, starting NOW. Not the future, but NOW. Tucson obviously is NOW. Tempe is HUGE on their return to business and contributing NOW. Now is when I am bullish about this company.
John - back to the sidelines!
Analysis #4 – Dilution:
I think dilution can be looked at two ways. There is a good dilution and a bad dilution. The giveaways that occurred recently were bad dilution. Someone asked how we defend it. I won’t. I don’t know what that is all about, but someday I hope to talk to someone in Toronto or hear from someone else who posts they talked to Toronto, and we get an answer for that. For now, I think that was bad. However, there is also GOOD dilution, and that has happened a lot in the past two years, but I don’t think is being looked at as being good. So here’s my thoughts on it.
The company is still young in the expansion game. They said they were going to expand into the USA, but in reality they had no money to DO the expansion. So they needed investors. That meant dilution. But … that is the type of dilution that is WORTH doing. Let me show you some approximate (and not actual, but conformed to averages) numbers.
We had 3 cafes open in 2018. We also had about 600 million shares outstanding. That’s about “200 million shares outstanding per café and thus per $2 million in revenue”. Yes I know there were other businesses as part of Amfil too, but I’m just talking about the S&L Cafes. I’m also rounding EVERY café to the same numbers, which is NOT true, but which makes it easier to show how the model works. Basically this is a simplistic illustration of one part of the company, not a full overall review of what they are doing. So … as I told them in 2018, if we spend about 40 million shares to open a new café (Tempe?), that means we would have 640 million shares outstanding. But we would have 4 cafes open. That drops us to only “160 million shares per café and revenue stream.” If we then open yet another venue (Tucson?) and can do that one for another 40 million shares spent to get the funds to do it, that is now 680 million shares for 5 cafes, or “136 million shares outstanding per café and per $2 million in revenue.” Makes the total outstanding higher, but the value per share MORE, as it takes less shares to get the same revenue number, meaning each share is worth MORE, in spite of the dilution. See my strategy so far? As we add more cafes, we add more revenues, and with 5 cafes open instead of 3 we make $10 million in revenue versus $6 million for 3 cafes. We are up 67% in revenues. Yet our outstanding is up only from 600 million to 680 million, which is 12.5% higher. Let me stop here and say things are MUCH more complicated than that to open and fund cafes. That is just a generalization of how and why expansion would work. (more on expansion in the next post) Granted, what I am talking about is only PART of the overall picture, and they also diluted for other things, but I’m talking about the dilution for cafes. THIS dilution makes great sense. And in the next year or two, I am hoping they CONTINUE to “dilute” some shares and get some investors to open MORE locations to increase revenues and profits, to overcome the corporate needs and other subs and turn this into a larger and finally profitable company. I’ll say it again. The cafes are profitable. People Are coming back, they DO wish to play games and eat our food, our food is NOT just standard bar food (although that seems pretty popular overall, with most bars offering the same things and we need more cafes to make this company GROW. We need to DILUTE for new cafes to add the revenue and increase the value of the company by more than the dilution drops it. If we added another 400 million shares but added another 10 new cafes, that would be AMAZING for us. Even with the dilution. We’d be doing over $30 million in revenue, instead of the $10 million I truly expect for this current fiscal year (From the cafes. Not adding anything for other areas, or doing a corporate review. Just a café review), and a tripling of the revenue and significantly higher overall profits would be worth diluting. Oh, and also … as we add more and more cafes, we shall turn more profitable. That means a higher price for the stock. That means less shares needed per café and LESS dilution. So my illustration of 400 million more shares for 10 more units would probably be WRONG. I told you this is too simplistic and not actual numbers. Just the illustration. But 10 new cafes would be maybe only 250 million more shares to get open. As the price goes up it would cost less shares and less dilution for the same thing. Make sense? (I’m sure it doesn’t to some who will disagree, but I’m fine with that.) Yes, I had a plan to dilute the company some, but make it worth EVERYONE’S while to do that dilution. Get us to under 80 million shares outstanding per café open and generating money and profits, and the value per share is worth a lot more. That plan could still work. They just need to start expansion again, AFTER they get the existing cafes back up and running smoothly. Deal with that now, and then when things are settled from the pandemic, we start expanding again. But expand in 2022.
The best news is that the current dilution for ongoing needs is getting smaller and smaller, and we are giving out less common stock for ongoing needs, as the cafes are turning black and generating enough to cover the overall costs of everything. That is good. Finally. And as we add more cafes, we shall have less and less need to dilute at all. IN fact, I’ve already been told by the company that my model for expansion shall be TERMINATED after a few more cafes, as the company shall finally be able to do their OWN expansion WITHOUT investors and not NEED to dilute to gain new venues. More on that in my expansion post. The bottom line for dilution is that for corporate needs, the need for dilution is already skrinking rapidly. There are a few things that could be done that would require dilution (Raising of some money to pay for them) but we are not doing those things right now, as we wait for the reopening to generate better positive cash flows. That’s why I also am against spending money for the 2019 audit, even though the company has said they were going to do it. Spend the money on the cafes. Spend the money on things that will generate income back in. And save money off of the newfound positive cashflows from the cafes, for other things. Stop the dilution. GOOD news though is it seems to pretty much have STOPPED already on the common stock side. Aahhh, but you see the outstanding going UP still? That is dilution, but not based on current things. As an example, when I convert some debts for the build out of Tucson, that increases the outstanding. But, that is not really NEW dilution, but an actualization of the old dilution I am talking about. Turning that debt into the 40 million shares per location.
Speaking of expansion though, let’s talk on that ……
Analysis #2 – the stock:
Okay, so if I think Amfil Technologies the company is doing better now than it was a few years ago, WHY is the stock not doing so well? Down from the 8 – 12 cents were at before the blip up to 23 cents to now only 2 cents? What the heck?? I have a few thoughts on that as well.
First and foremost, I believe that a stock price, especially on a penny stock, does NOT reflect reality for a company at all times. I’ve seen stocks go from less than a penny to 60 cents in a month, on NO change in the company itself. Just because certain people buy it en masse and they overwhelm the sellers. Then, two months later, it is back down to 9 cents per share. Was the company doing 60 times as well when it went from 1 cent to 60 cents? Nope. Was the company doing 1/6 as well when it went from 60 cents to under 10 cents? Nope. Just because pink sheet stocks are volatile and trade on speculation more than on fundamentals. They do not reflect reality, although over time they eventually pass reality on both sides. That’s how I look at penny stocks. The pendulum doesn’t sit at the center where it should, but overshoots to the right, goes to the edge, then turns around and comes back. When it hits center, it continues past yet again, and goes too far the other way. It’s how pendulums work.
I thought this stock would go from 6 cents a share to about a dime, based on fundamentals, when I bought it. Instead, it went to 23 cents. WAY past “reality” IMO. Then, it came back down. It stopped in the center range for a short period of time, then continued down and again past what I would call real value or reality. Yes, I think other things played into it as well. Management screwed up NUMEROUS times while the irons were hot, and made a mess of it. They lost opportunities to expand into new cities when they had them. They bought subsidiaries that didn’t pan out. They weren’t focused on their bread and butter, but instead spread themselves out, looking for the next big winner to add to Snakes & Lattes – while ignoring Snakes & Lattes! I admit it. They screwed many things up. They also diluted shares way past what they should have, as they didn’t focus on the cafes and they had too much overhead in Toronto. They had staff for a large expansion, but never did the expansion. Fortunately, most of that overhead is GONE, but the damage was done. They said things that never came true. To the point where we had to get RID of the CEO from that time. We replaced Roger with Rogen, and I admit I wish Rogen was still there. I, like everyone else here, have no idea what happened with that, but I won’t print things that can’t be known and try to pass them off as fact. Roger was removed. Even when Rogen left, Roger did not come back to that position. Notice that Aaron and Ben are shown as our leadership now, not Roger and Ben. IN spite of hearing otherwise, Roger is not pulling the strings. Still, the CEO position has been a frustration to me and most other shareholders. That’s why I think that the stock lost a lot of its luster and came back down and then continued down.
Now that we are FINALLY focusing a narrower focus on the cafes, I think the stock deserves to go back up. Probably from 4 cents where I valued it over the past year as a “fair value” number to about that same 10 cents per share again for now. Of course, we are not AT 4 cents a share right now, but that’s why I say the pendulum has swung to the other side and is too far to the south at this moment. We were at 4 cents for a while. We were even above it for a while. Now we are below it. But I think we are too low, which is why as I mentioned in the first post, I bought some shares Friday. May buy more again this week too. I’m not going to tell the board what I am doing on all my trades, so enough on that.
I think the company needs to prove itself some before the stock price really goes up IMHO. Due to all the releases in the past that never came true, not much is believed. As we perform over the next six months on our EXISTING cafes though, that ALONE should be enough to get us much higher. The numbers coming in from our existing six cafes should show us PROFITS by the second quarter of the CURRENT fiscal year. It is coming. Expansion should also occur (More in the next post on that). It is time to get the existing cafes up and running smoothly, and then look for new locations. That begs the question as to what happened to all the places they ALREADY talked about. I know for a fact that some are still on the board, like Denver and Fort Collins. Others were lost, like Charlotte and Houston. Management needs to change how they DO the expansion, so more locations are not lost, and I hear they are working on that finally. However, just getting the existing locations back to full strength should be their focus the next 3 to 6 months. Get Tucson running smoothly, since it is new. Get Guelph open and running smoothly. Finish Chicago and Tempe plans, as things are different now than before the pandemic. And work Toronto and get it back to running in the black, if not already done. Do this, then expand. Oh, and the statement that the investors for the ten new expansion locations were all lost is also not correct, which is a good thing for us. ?? Some are gone, but not all. That will play out over the next year, after the existing ones are propped up and get back to normal.
That’s the key to the stock right now in my opinion. A three fold approach that will get us moving back in the right direction again. 1) get the existing locations performing at top efficiency. If they ALL are in the black shortly, that will put us corporately in the black, which will be amazing for the stock. 2) after the existing locations are back running smooth, start the expansion again. Focus on expanding the CAFES, not some fourth or fifth attempt at something new. Add new cafes that will bring in more revenue, go black within a few months of opening, and that don’t dilute us TOO much to get them open (dilution post coming next) 3) Stop promising things that don’t happen. I think this is already under control, although many don’t like the fact that now we are not saying much. Since we are not saying things that do not come true. Oh, and a 4th thing to move the stock. Time. Because we ARE doing well finally with the cafes, and are opening after a year of not being at full force, we should show good revenues and profitability over the next few quarters. But they need to play out, so time shall be required. Watch us grow. Watch us turn profitable. Watch us then expand. And watch the stock price go up in response. Response being a word that happens AFTER those things though, so unless we get some en masse buyers to move us unrealistically to a higher level, like they did when they moved us to 23 cents a share, I think we just need to be patient.
One thing I left OUT of my thoughts to move the stock. The audit. I sent an email to Toronto recently recommending to them that they not DO that audits they are planning to do. I know – some of you think we need those audits. I think we don’t. Most penny stocks do not have them. We never had them. We think we need them because the prior CEO TOLD us he was getting them done, and because some people say if we don’t have them we are a scam. I personally don’t think we need the audits. I also told them that if they DO want to do them though, just do the 2020 audit and the 2021 audit for the June 30, 2021 that just ended. Why? Because you need two years to uplist. Do I think we need to uplist? Nope. If we want to, sure, but don’t “need” to. I know this opinion differs from most people reading this, but I just don’t see value in working up the audit for 2019 at this time. As someone said on this board – it is useless being this late. So why spend the money. Let’s stop spending money on things outside of the cafes and let our income statement show a profit instead of a loss after expenses. Remember – my opinion. ?? The board may not agree with me, but it’s what I think. Speaking of the board …..
Analysis #1 – the Company:
I am going to write a few posts about my opinions of Amfil Technologies at this time. A key word in that sentence is “my”. I don’t like when someone writes something they think and someone else says “so now the company is saying …”. Nope. I am not associated with the company, except as an investor. A large investor, yes, but I am still just an investor. I am not employed at the company, I am not an insider at the company, and although I know what is going on at Tempe and Tucson more than many others, I really have no idea what is happening in Toronto, nor at the corporate level. I’m not a shill, I’m not an employee and I’m not a disgruntled ex-employee. Just someone who invested a lot of money in this company, via stock market purchases AND via direct investment with the company to help them bring their brand to Arizona. I’ll also admit that on Friday I bought shares in the open market, for the first time in over a year. I think the price is too low and represents an opportunity, so I bought some trading shares. As an investor, I have the same right to express my opinions as all others, and that is what I am doing today, in a few posts. I’m sure some will parse my posts and misrepresent them, but I’m not going to defend them – since they are MY OPINIONS and I’m not going to get into debates over what I think. SO here is post #1, on the company.
I think Amfil is in the best position it has been in since I started investing in them. No, I’m not saying the STOCK Is. I’ll post on the stock next. I’m talking the company. I truly believe it is moving forward, and things are looking up. Eventually I hope the stock reflects that, but here is what I think.
When I first heard of this stock, we were sitting at 6 cents or so per share. We had 2 cafes open in Toronto and were working building out a third. They had just announced their desire to come to the USA, and that intrigued me. I bought shares of the company, and also eventually helped them come to Tempe. Later Tucson. Now, the company has the three cafes open in Toronto (Finally open after the closures from COVID) and a fourth being built out right now. They also have the two in Arizona and one in Chicago. So instead of two locations open, they have six open and a seventh soon to be opened. To me, that IS EXPANSION.
The profitability for the Toronto cafes was decent back in 2018 before the virus and the downturn. I saw the numbers for the cafes when I was exploring whether to invest in Tempe or not. They were making money. The overhead at corporate then took away the profits on the corporate level, but the cafes themselves were doing well. Two cafes, and a large overhead in Toronto, so the overall was negative, but the cafes were positive. Now? The overhead is significantly smaller, as positions have been terminated. The corporate expenses are much less. The cafes? I hear that Toronto has had very good numbers in the short period they have been open. I think it is too early to say they are doing well, but the start was very good. Arizona? I can tell you that Tempe is CRUSHING the numbers. They are way above the Pre covid numbers, and Tempe should be showing a very nice net profit, IMHO. Although people think I “own” Tempe and therefore have those numbers, I do not, so even that is an opinion. I do not get the financials from Tempe or Tucson, nor do I see the numbers that people think I get to see. I’ll repeat that I’m still just an investor in the company, and own stock and convertibles that shall turn into stock. I’m a current and future shareholder basically, again like some here. But I feel confident in saying that Tempe is running well in the black at this time. Tucson? I expect Tucson to be running in the black within about 3 more weeks. When school is in session. The thoughts that “people don’t want to play games after playing games for free at home for over a year”? Fortunately not true. From what I hear AND SEE, the cafes are PACKED. Chicago is stated to be doing well too, and I believe that to be true. In fact, I’d say that I personally give the company odds of over 50% that the new fiscal year that just began shall be a net POSITIVE earnings for the year. Because the SEVEN cafes shall all turn profits in 2022 instead of just the two of them in 2018 and that shall be more than what is used on the CORPORATE level to come up with a final net number. Granted, if the virus forces closures a second time or something else happens that can’t be predicted at this time, that may not happen. But seeing what I see and seeing how packed Chicago, Toronto and Tempe are, plus the growth happening at Tucson, and hearing that Toronto is coming back strong, I see Amfil showing a profit in fiscal 2022. SO yes, I think the company is doing better than it has been in the past. And yes, I am talking mostly about Snakes & Lattes - the cafes. The rest of the subs? I personally hope they ALL go away and are spun off or closed. Let’s focus on what we do RIGHT. The cafes. Yes the cafes are full at this time. Yes I think they are profitable and shall be in 2022. YES there are six now instead of two and seven about to be open. YES, we are expanding the business. (More on expansion in a later post too) So, I think Amfil is on the right track. SO, why isn’t the stock price reflecting that? Next post …
Very good argument. Which leads to another thought.
If someone bought euros with dollars, and then later paid for something with those euros, would any gain (or loss) from price appreciation be taxable on the surrender of the euros for the purchase? I would think not.
Very intriguing answer you have there. hmmmmmmmm
"Also, if you purchase an item with crypto, that is a taxable event."
Of course it is. You are cashing in your investment. If you paid for an item with shares of a stock, it would be the same thing. It's not like it can be a 1031 exchange. It's a sale of the asset (Shares OR crypto) and then using the proceeds to buy an item. A taxable event.
Looks like I'm not going to get those 220 puts actually putvro me again. Rewriting the 210s for next week. And the 255 calls also expire. Mobey in the bank.
Any idea on when they stop exploring and start extracting? Actually digging for gold, instead of digging for test holes??
what's going on? SOmeone didn't like today's drilling results??
Tired of this going down. Been there, done that. ANy thoughts?
VERY nice reversal off our support today.again. 208 -215 is broad support line. Don't want to break 208 though.
Seems we are losing some of our luster as we continue to wait and wait for some news on the cores to come out. Bummer to see the bid barely above $.10 right now.
I'd say she is the only one holding this up, with her buys, but I guess I need to say instead she is the one making it "only" drop as far as it has, instead of dipping below $200. Her buys help a lot. But WOW, the stock doesn't like going up!
I'm going to let my $220 puts get put to me next week, if we are below $220. I'll then start writing weekly calls at a tight level for these specific shares, and seeing what I can get on the calls weekly. Will keep my other weekly covered calls high, expecting a rise EVENTUALLY in this stock. I don't think my $275 or $280 calls expiring tomorrow are going to get called away from me.
Ouch,
Breakout? De-confirmed.
My $280 calls for this week are safe to expire. My $220 puts are still safe, but closer than I wish. And I sold the $220 puts for next week already, hoping this is as low as it goes and the price to sell puts would be less if I waited until next week to sell them.
QUite the ouch today though. Didn't expect this.
Did you see this part??
"Coinbase was trading down 2.5% Monday afternoon at $248 per share. It is scheduled to report its second-quarter results on Thursday."
I thought we were reporting in August. Are we truly coming out with second quarter this Thursday????
"maybe bartender can do audits they had to do carpentry down in Tucson "
No, they did not. I guarantee it. We had a contractor, a handyman and a few trades that worked there, but no bartender was even hired until after Tucson was done. You are incorrect, sir.
Well, both my 220 puts and 260 calls expired again this past Friday. Now I'll write them both again (Different strike prices) for this coming Friday, and put another "weekly dividend" into my pocket.
I'm lowering the cost of my shares every week, with the covered calls and puts. And if it drops enough to put me shares some week, I'll have a decent amount of cash already in the account just from the calls and puts to pay for those shares. Then I'll write more calls against the new shares, at a lower strike price while keeping my original shares at a higher strike.
I don't get a ton each week, since they are one week long options, but they are a nice dividend in my eyes, and they keep me from writing and having it explode to the upside and losing out on a large gain, which I expect to happen eventually. And I shall NOT write the two weeks before earnings come out. I expect them to be way above the initial estimates, and that should make us jump. If not, I only lose out on a small amount for those two weeks anyway.
Nice to see them both expire though. And nice that it is closer to my call side now instead of my put side.
Souinds like Binance likes to be the outlaw and not do things the regulated way in any country. I have the opinion that Binance shall not exist in 5 years. At all. Companies like this can be big and still fail. Their arrogance comes before their fall.
Look at the trail they are already leaving ...
"Founded in China before the state enforced a ban on crypto trading in 2017, Binance moved overseas and was reportedly headquartered in the Cayman Islands and Seychelles as of February 2020."
ANd now not going to stay in the Caymans.
"Binance is known for having multiple entities around the world and was reportedly previously headquartered in Malta. Last February, the Malta Financial Services Authority claimed that it never approved Binance to operate in the country."
Another bridge burned.
"The latest news comes amid a renewed crackdown on Binance’s activity around the world, with governments such as the United Kingdom, Japan, Canada and the United States closely following the exchange’s operations recently. According to a Thursday Bloomberg report, the Singapore Monetary Authority plans to review Binance Asia Services’ license application amid its parent company coming under regulatory scrutiny worldwide."
ANd more problems coming. They just think they can do what they want without worrying about governments, because they are decentralized. It just doesn't work that way. Bye bye binance. I'll be the first to say it.
"Bitcoin mining is now going to be more profitable for those doing it"
Wow. Maybe a bunch of people here in the USA will start mining now; people who have not in the past.
"Assuming fixed power costs, Zhang estimates revenues of $29 per day for those using the latest-generation Bitmain miner, versus $22 per day prior to the change"
Okay, nevermind.
lolololol
AMFIL TECHNOLOGIES INC. THANKS INTERIM CEO FOR STEERING COMPANY THROUGH PANDEMIC, RESTORING GROWTH
Press Release | 06/30/2021
After restoring and growing revenues during a global pandemic, interim Chief Executive Officer Rogen Chhabra will be leaving Amfil Technologies, Inc. (OTC: FUNN) at the end of his contract on June 30 2021.
Since taking the helm, Chhabra has pursued an ambitious agenda that has included launching two Snakes & Lattes board game-theme cafes; solidifying Amfils audit process; and positioning the company to enter into the burgeoning retail cannabis markets in both Canada and the United States.
Doing any of these things under normal circumstances is tough enough, said Amfil Chief Operating Officer Aaron McKay. But moving ahead on all these fronts as an interim CEO during a global pandemic is truly impressive. We cant thank Rogen enough for putting Amfil on solid footing and pointing the way to future prosperity.
McKay and Ben Castanie, founder of Snakes & Lattes, will share interim CEO duties while Amfil fills out its executive ranks, secures strategic partners for certain corporate functions, and launches the search for a permanent CEO.
Chhabra, who is also a licensed attorney in Colorado and Mississippi, said he was honored and delighted to have served as CEO of the publicly traded company.
This has been an opportunity of a lifetime, and I was gratified to be working with so many committed people of quality, said Chhabra.
Under Chhabras leadership, the Snakes & Lattes division expanded its brand footprint.
In March, it opened a new cafe in Tucson, Ariz., to rave reviews and will open a second this quarter in Guelph, Ont. Meanwhile, the division added capacity at its popular Tempe, Ariz., cafe, where revenues are on track to exceed $1 million for the first six months of 2021, and is reopening its premier downtown Chicago cafe.
Chhabra also oversaw the licensing and the initial construction of the companys first Funn Dispensaries outlet for recreational cannabis in Canada. It will open before the end of 2021 in St. Catharines, Ont.
According to otcmarkets latest news posted, Rogen has resigned as CEO of Amfil Technologies as of the end of his term which ends June 30th. Today. My thoughts on it?
First and foremost, I think it is a loss. I am sad to see it happen, as I thought he could do a lot of good things for the company over the next year or two. Neither he nor I thought he was the answer long term, as a restaurant savvy or franchise oriented CEO needs to be in those shoes at some point, but for now he was a good choice. So losing him is a negative thing, IMHO.
What does it mean for FUNN? It means a bad day on the market as the bears tell the world that FUNN's world is ending. Spoiler alert - it is not. A setback yes, but not the end of it all. The company has management in place and it shall stay in place. It has even expanded recently, not meaning the Rogen appointment. We are moving forward with things, including the new dispensary in Canada that shall hopefully open soon and the plans of new locations for Snakes & Lattes in the future. Despite rumors and even bold statements to the contrary, not all the venue investors are gone, and future locations SHALL be opened. We shall continue to grow, and work past this. Our existing restaurants are doing well. Tempe is way above it's past numbers for the summer months, and Tucson of course is new so there is nothing to compare it to, but they are growing and working towards being ready for the school year which starts in about 5 weeks. Chicago is open and shall contribute to revenues this new fiscal year which starts tomorrow. Toronto will finally open (shocked that they are still closed, and the lack of dealing with COVID through Canada) and our cafe revenue numbers shall go UP by a LOT over two years ago and of course over last year since we dealt with COVID. So long term, this setback shall become the past, the future has not changed at ALL, and we should continue to grow and expand.
But that doesn't mean it won't be a long day today
"lied. I just added"
Good job.
Bitcoin will grind lower to around $15,000 before bottoming, so investors shouldn't rush in now, Guggenheim's Scott Minerd says
mfox@businessinsider.com (Matthew Fox) 2 hrs ago
Scott Minerd wearing a suit and tie: Lucy Nicholson/Reuters© Lucy Nicholson/Reuters Lucy Nicholson/Reuters
Bitcoin will likely find support at around $15,000, Guggenheim's CIO Scott Minerd told CNBC.
The investment chief doesn't think investors need to rush back into bitcoin as it will likely consolidate sideways for years.
"I don't think people need to be anxious to be putting money in bitcoin right now," Minerd said.
Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
Bitcoin may have further room to fall after its recent 50% decline, according to Guggenheim's chief investment officer Scott Minerd.
In an interview with CNBC on Friday, Minerd outlined where he sees bitcoin ultimately finding support amid its volatile selloff: $15,000, which represents potential downside of about 55% from current levels.
"The real bottom, when you look at the technicals, $10,000 would be the real bottom, you know, that's probably a little extreme, so I would say $15,000," Minerd explained. That $15,000 target is 25% below what some technical analysts view as a likely support level for bitcoin of $20,000.
Minerd said one underlying driver of bitcoin's explosive move higher in the past year has been an increase in central bank liquidity, but as that liquidity begins to fade, so should the price of bitcoin. The Fed has slowly started to talk about rolling back some of its bond buying programs that began amid the height of the COVID-19 pandemic last year.
Given the potential for further downside and bitcoin's history of taking years to digest large price gains, Minerd doesn't think investors need to rush back into the cryptocurrency.
"I don't think people need to be anxious to be putting money in bitcoin right now," Minerd said, explaining that bitcoin should consolidate sideways for a couple of years before its next leg higher.
Following its peak near $20,000 in late 2017, bitcoin fell more than 80% and consolidated for three years before it broke out to new record highs.
Despite Minerd's bearish outlook on bitcoin in the medium-term, he does see potential for bitcoin to trade much higher in the long-term. Research from Guggenheim has suggested that bitcoin could surge to $400,000 to $600,000 if it successfully competes against gold as an alternative asset class for investors and asset allocators.
Bitcoin traded down 7% to $32,815 in Friday morning trades.
We have GOT to stop trading lockstep with BTC and start trading like a stock. A growth stock with lots of increase coming plus a PE that will soon be less than 20, in spite of our amazing growth. Otherwise, as BTC goes down, we continue to slide.
I sold off 200 shares today. Then, wrote 3 of the June 25 $220 puts. If it goes down again, I'll get put 300 more shares instead of 200, but at a lower price. If it doesn't, and it's only 2 days, I keep the money and I'll write again for next week. Figure it's a way for me to keep 700 shares and write covered calls on them, but also lighten up some at $228 and start seeing if I can buy again at $220 or lower. Good income, and I still own a lot of shares anyway. At least for me.
Founders of South African Bitcoin exchange disappear after $3.6 billion 'hack'
Igor Bonifacic 5 hrs ago
|
Cryptocurrency investors in South Africa may have lost nearly $3.6 billion in Bitcoin following the disappearance of two brothers associated with one of the country’s largest cryptocurrency exchanges. According to Bloomberg, a law firm in Cape Town says it can’t locate Ameer and Raees Cajee, the founders of Africrypt. In April, the exchange told its investors it was the victim of a hack and asked them not to report the incident to the authorities on account it would “slow down” the process of recovering their missing money.
Some of those involved in the exchange hired Hanekom Attorneys, the law firm that said it couldn’t find the two brothers, to investigate the incident. It found that someone had withdrawn Africrypt’s pooled funds from the local accounts and client wallets where the coins were stored originally and put them through tumblers and mixers, making it difficult (though not impossible) to trace the money. “Africrypt employees lost access to the back-end platforms seven days before the alleged hack,” the law firm told Bloomberg. The outlet attempted to call both Cajee brothers multiple times only to get their voicemail each time.
Bitcoin (virtual currency) coins are seen in an illustration picture taken at La Maison du Bitcoin in Paris July 11, 2014. French police dismantled an illegal Bitcoin exchange and seized 388 virtual currency units worth some 200,000 euros ($272,800) in the first such operation in Europe a public prosecutor said on Monday. REUTERS/Benoit Tessier (FRANCE - Tags: BUSINESS)© Benoit Tessier / reuters Bitcoin (virtual currency) coins are seen in an illustration picture taken at La Maison du Bitcoin in Paris July 11, 2014. French police dismantled an illegal Bitcoin exchange and seized 388 virtual currency units worth some 200,000 euros ($272,800) in the first such operation in Europe a public prosecutor said on Monday. REUTERS/Benoit Tessier (FRANCE - Tags: BUSINESS)
Complicating any recovery attempt is that South Africa’s Finance Sector Conduct Authority can’t launch a formal investigation into the incident because cryptocurrency isn’t legally considered a financial product in the country. If no one can recover the money, it will go down as the largest cryptocurrency loss in history, easily overshadowing the approximately $200 million CAD that disappeared when the founder of Canada’s QuadrigaCX exchange died while travelling in India.
Break. even. !!!
Now let's see some GREEN for the day. BTC is now up nicely, so let's follow it UP as well.
And the volatility should bode well for trades done at COIN. I bet we have an awesome quarter.
Hello. And welcome.
Someone made a mistake and sold 9,000 shares at market. Thin stock. Dropped it from $2.15 to $1.31. I hope some of you had GTC orders to buy and scooped up some of those shares. I didn't have any GTC buys in. I'm on the bid now, but doubt anyone else sells this low. (I may have to buy on the ask. That's even cheaper than I think it should be. Knee jerk reaction.)
Cathy might (should) be fired. Continuing to buy into a losing position, over and over again. Her stellar track record is going down the drain.