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As we discussed on the NAK thread, this stock (although unnamed, just described) is being recommended by Dave Forest. When you subscribe to his International Speculator newsletter you receive a special report describing the opportunities in REE and this stock is one of them. So, new subscribers will have this stock touted to them.
on 330k+ shares over the last 5 minutes!!
day traders taking some short term profits but another run is underway...
just hit .988....getting close!
Hey sherman106 and NotRichYet2, welcome. I have been watching and took a position a few days ago and have added today. Sold some of my NAK to do it thinking this was a better bet in the short term. Will be watching both and possibly trading back and forth.
Alvie
Current Report Filing (8-k)
Item 1.03 Bankruptcy or Receivership. On December 15, 2019, Generation Next Franchise Brands, Inc. (the “Company”) filed a voluntary petition (the “Bankruptcy Petition”) for reorganization under Chapter 11 of the U.S. Bankruptcy Code (the “Bankruptcy Code”) in the U.S. Bankruptcy Court for the District of Nevada (the “Court”). The Company intends to use this court-supervised process to continue its review of a range of options to maximize value and address its financial obligations
The Company continues to operate its business and manage its properties as a “debtor-in-possession” under the jurisdiction of the Court and in accordance with the Bankruptcy Code and orders of the Court. The Company has filed a number of customary “first day” motions seeking Court authorization to support its operations during the court-supervised process. The Company expects to receive Court approval for these requests shortly.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The Company, Reis & Irvy’s, Inc., 19 Degrees, Inc., and Generation Next Vending Robots, Inc. (collectively, jointly and severally, the “Borrower”) entered into a Business Loan and Security Loan Agreement (“Loan Agreement”) with Genext Loan LLC (“Lender”). Pursuant to the Loan Agreement, entered into November 15, 2019 and funded November 21, 2019, the Lender agreed to loan the Company an aggregate of $300,000.00 in principal amount. The loan bears interest at a rate of 20% per annum with principal and interest on the notes due on the earlier of February 13, 2020 or the date that the Company files for voluntary or involuntary bankruptcy. On December 3, 2019 Gennext Loan LLC funded an additional $25,000 making the aggregate principal balance $325,000.00. The filing of the voluntary petition for reorganization under chapter 11 of the Bankruptcy Code as described in Item 1.03 above could cause the acceleration of the due date for the loan, which as of the date consist of $330,416 in principal and accrued interest.
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
The filing of the Bankruptcy Petition constituted an event of default under the Company’s notes payable, resulting in the acceleration of the Company’s obligations under the notes. Thus, all outstanding debt under the notes (among other obligations) is in default and accelerated, but subject to stay under the Bankruptcy Code. The outstanding principal amount of such debt is currently $4.8 million.
The information set forth under Item 2.03 of this Report is incorporated into this Item 2.04 by reference.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 26, 2019, Art Budman, resigned as a director of the Company. Mr. Budman’s resignation was not the result of any disagreement with the Company.
On December 9, 2019, Chris Maudlin resigned as a director of the Company. Mr. Maudlin’s resignation was not the result of any disagreement with the Company.
On December 10, 2019, Lavaille Lavette resigned as a director of the Company. Ms. Lavette’s resignation was not the result of any disagreement with the Company.
On December 13, 2019, Thomas McChesney resigned as a director of the Company. Mr. McChesney’s resignation was not the result of any disagreement with the Company.
BBC story that aired previously was just re-posted on their website about an hour ago:
https://www.bbc.com/news/av/business-50826045/the-us-steps-up-the-hunt-for-crucial-rare-earths
It's part of Dave Forest's presentation as a sales pitch for his International Speculator newsletter. He doesn't mention the company specifically (unless you choose to invest) but it's easy enough to determine the company he is talking about if you have some familiarity with the industry.
https://secure.caseyresearch.com/?cid=MKT430312&eid=MKT440402&step=start&plcid=PLC060631&SNAID=SAC0000364179&email=vennix@aol.com&encryptedSnaid=YnHAffJQCt6pYFBfaRjnuG4m8ofH4PDnSysEgeZgUwE%3D&emailjobid=4337042&emailname=20191217-CDD-P&assetId=AST118797&page=2
You don't have to watch the video as there is a transcript below the video.
Word has gotten out about the company as the share price has more than doubled over the past 6 days on 10 times the average daily volume.
The company, Texas Mineral Resources (TMRC), has a pilot plant process that successfully separated Neodymium and Praseodymium with 99.9% purity and sent samples to the Dept of Defense for analysis. They have a very significantly sized resource with an estimated 45 year life span.
320,000 shares bought in 20 minutes....Hmmm. What do your sources tell you, Sonata?
The other news item from Dave Forest:
So the big news that came out today [December 11] was that the U.S. Army announced that it is going to directly fund the development of processing and mining infrastructure in America to ensure the supply of rare earths.
As I said, this is a reaction against China being one of the biggest suppliers of rare earths on the planet. And basically the U.S. Army wants to ensure that it has its own direct supply and it’s willing to pay up hundreds of millions or even billions of dollars to do that.
So this just happened. The next big thing is going to be that this is going to get rare earths and rare earth stocks on the radar of a lot of people. Watch what happens the next few weeks; this story is just starting to unfold. And as mainstream investors hear that the U.S. Army is getting involved in this, I think this is going to be the beginning of a larger move upward for the stocks.
From Dave Forest, editor of International Speculator newsletter:
"And two days ago [December 9] we got a big announcement that Jiangxi Copper, one of the biggest copper companies in China, is going to invest $1.1 billion in one of the biggest western companies, First Quantum. So Jiangxi wants to put a billion dollars into this western company, First Quantum, to get a first look at the copper supply.
Now at the same time, this fits with reports from China that basically there isn’t enough copper to go around for all the smelters in China, and they’re falling over themselves to secure whatever supply they can.
Again, this has not hit the mainstream at all. Nobody is talking about copper; nobody’s thinking about it."
Yates has been totally gone for a couple of months - sometime in October.
They have been preparing for this possibility/probability, but I don't know what their plans are. Hopefully they can salvage something.
It's true.
Sounds good to me.
You're correct - only his picture is new. They deleted a half dozen pictures a few weeks back, suggestive of the 40% reduction they quoted previously. Not sure when they added Shen's picture or why. Don't know how many of the others are still there but most could be.
Hmmm...Generation Next has updated their website - not sure when. In addition to several folks being gone, which we already knew, they have added a new face - Marshall Shen, Head of Strategic Partnerships...
Latest OTC certification filed Nov 18 lists float as 53+MM so recent sales volume is still a small percentage of float.
That's what age does to a person....
Well, when I saw Sonata bet against Robo I knew I needed to come back to moderate - at least for a little while....
And since everyone seems to pontificate with a paucity of information, I didn't want to impact that with information overload...
Guess I'm just not as smart as you.
My sources tell me to capitulate, Sonata, and declare you as the new moderator of VEND on IH. Congratulations!
Thanks. Thought it was something more recent.
Where did you get that? Haven’t seen any new updates.
Happy Thanksgiving to everyone. Hope you are enjoying this day with family and/or friends.
Looks like it....imho
More buying than selling but the MM's are trying to pick up cheap shares by continually lowering the bid, taking out stops along the way, imho....
My sources, not those you mentioned because I don't know any of them, say Buy, Buy, Buy.
Some like it hot,
Some like it cold,
Some like it in the pot,
With three days to go...…
jmho….
Don't worry, Sonata, us Three Amigos will handle it going forward.
I guess since you sold your last shares you will be off doing something more productive now and we'll no longer be blessed with your wisdom.
Ah, hope springs eternal....
Didn’t you say recently that you were still on board with half of your original purchase shares?
"Ryan Polk sure seems to keep an upbeat attitude"
Just curious, have you been in contact with him, or what's the basis for your comment?
I have never spoken with him and he hasn't said much in PR's lately, but I agree with your comment about having been in charge.
11/14/2019 @ 5:00AM
Pretivm Adds Two New Directors with Extensive Mining Experience
Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to announce that its Board of Directors (the “Board”) has appointed Richard O’Brien and Jeane Hull as independent directors of the Company. Mr. O’Brien will assume the role of Board Chair following the retirement of Robert Quartermain, Executive Chairman, on December 31, 2019.
Mr. O’Brien previously served as President and CEO of Newmont Mining Corporation and President and CEO of Boart Longyear Limited. During his career, Mr. O’Brien has also served as a CFO at Newmont as well as at several power and utility companies. Mr. O’Brien serves on the Boards of Xcel Energy Inc. and Vulcan Materials Company.
Ms. Hull previously held the positions of Chief Operating Officer for Rio Tinto plc at the Kennecott Utah Copper Mine and Executive Vice President and Chief Technical Officer of Peabody Energy Corporation. Ms. Hull is a Registered Professional Engineer and currently serves on the Boards of Epiroc AB, and Interfor Corporation.
“I am very pleased to welcome Richard and Jeane to the Board. They both bring extensive industry experience at this important juncture in the company’s evolution that will complement the skill sets of our directors,” said Robert Quartermain, Executive Chairman of Pretivm. “It has been a great personal privilege to have been involved with Pretivm from exploration through to its development as a profitable mid-tier gold producer. As incoming Chair, Richard brings a depth of understanding of the gold business that will be instrumental in helping the Board steward Pretivm to its next level of success for shareholders.”
Sharp eyes, Officious. When I read his post the word jumped out at me but I just regarded it as a mis-spelling, which I'm sure it was, and didn't assign any other meaning to it.
ingenuous - naïve, simple, unsuspecting
ingenious - inventive, creative, imaginative
Not sure how much 'freedom' he's had to address problems with NY in charge. It's only recently that he's really been at the helm with no interference. Just have to wait and see how successful he's going to be.
Glad you're finally coming to your senses and buying. You won't regret it, imho....
That's only the robot information. They updated the information on Polk and Yates a few weeks back with their new titles. Where have you been?
Ryan came in as a consultant at the urging of shareholders/franchisees to correct the logistical issues with the supply chain. He became acting CEO Sept 1 and has been focused on correcting the abuses of the past since that time. NY is not still around, even in name only, in spite of the fact that his picture remains on the website with the title VP Business Development. I don't think it is a priority to update the website at this time even though I have suggested to them to do that.
I'm not too familiar with other franchise companies - do they publish a list of all their franchisees? I'm sure if someone was serious about becoming a franchisee they could contact the company and get contacts to talk with, although at this time the company is not seeking or accepting new franchisees as I understand it.