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LOL yeah. Made a ton off P&Ds, you just have to know how they work. If this is simply a P&D then its early days yet.
Certainly it acted like a P&D with there being no real news. Someone is out there now accumulating in the mid-high .03s though.
I think we have not seen the last of strange behaviors for NUVM, perhaps when they go current we will see more activity, legit or not who knows.
Could be, but if so then are putting a lot of effort in, and money. This is so outlandish for this stock though, even if it is a full-on PnD.
I wonder what's going on? This isn't due to getting current or the attorney letter. They were current before and still traded in the one to two cent range.
These weak-ass, low-volume take down attempts are amusing. There were two today, late in the session. Does anyone fall for that kind of obvious BS?
GRN Funds still becoming a subsidiary is possible, of course. All we have is an intentionally vaguely-worded shareholder letter to go on.
However, if GRN Funds was part of a publicly traded company GRN Holding will have to report on it to some extent. I think this is the aspect JC wants to avoid, so I do not think GRN Funds will become a subsidiary.
We shall see and "soon" I think.
GRN Holding is merging into the shell. It was initially thought GRN Funds would become a subsidiary of GRN Holding post-merger, though I no longer believe that is the case. My interpretation of the shareholder letter indicates that GRN Funds would remain a separate entity.
I am not aware of any other JC-related businesses that justify the current valuation, but not a lot is known about JC's businesses...they are all privately held.
That is correct, Wong's shares are common just like ours.
Despite the 14c saying they have no plans to issue more shares into the OS, I suppose they could do the RS and then turn around and give him a 100M post-split shares as "compensation." That would definitely cause them regulatory problems since they said, in an SEC-filed document, that they wouldn't do that.
The way these guys have run this so far makes me hopeful that they would not risk trouble with the SEC and shareholder lawsuits. Usually on the OTC lawsuits never happen because it isn't cost-effective for the plaintiff.
In the case of KRBF, the value of the companies we think are merging in will make lawsuits a real thing if Wong does something really slimy. We are shareholders and they have a fiduciary duty to us.
See here: ]https://www.nolo.com/legal-encyclopedia/fiduciary-responsibility-corporations.html
Totally agree. Personally I can't wait for September! I think we're all going to be shocked by the positive progress.
I like to use a *very* conservative but simple calculation to estimate the value of a company...5 x annual revenue. Is the $38M guesstimate a quarterly or annual figure?
5 x 38M = $190M, the same figure that got you to the $.083 valuation.
This calculation also doesn't necessarily work well for rapidly growing companies, so I believe our actual valuation is higher than $.083.
I disagree somewhat. Yes the RS sucks emotionally. But look at what is going on:
- the 14c strongly implies they intend to uplist, and I don't think he means OTCQB or QX.
- the 14c says they have no plans to issue new shares into the OS
To uplist to NYSE you have to be at $4, and $5 for the NASDAQ. When the pps was .045, with a 1:100 split that make the pps $4.50, right where it needs to be. All other things being equal.
Also, that is assuming everything remains equal. We know he is merging in 3 substantial entities. My read here is not that Wong is trying to screw current shareholders but just that he continues to execute his plan. I like his plan, but yeah the RS stings a bit.
I believe we're all perfectly fine. Yes I am taking advantage of the cheapies to average down and get as many shares as I can.
Oh my bad...the GRN Funds site says "$1.15B" under management, not $1.35B. And $600M on deposit.
The value of GRN Funds is not clearly known. We know how much money they manage, but not what their revenue looks like. If they charge a 1% management fee on the $1.35B they manage, that makes revenue of $10s of millions. Not too shabby. Using the old "5 x annual revenue" to establish the value of the company, it could range between $50M - $100M.
*Lots* of assumptions and guesswork there obviously.
Of course, since it appears GRN Funds will simply remain the owner of DCGD and not part of DCGD, the value of GRN Funds isn't important in the valuation of DCGD. What will make DCGD worth something is what merges into it.
Based on the current pps and to meet the same "5 x annual revenue" rule of thumb, DCGD will need to produce annual revenue of $25M. Very doable for GRN Funds, but we don't know of any other related venture that generates that much revenue.
Agreed. GRN Funds will maintain ownership of DCGD aka GRN Holdings, but it seems will not merge into the shell. Now the question is what *is* going into DCGD???
1st paragraph defines "GRN" as "GRN Funds," at least in the context of this letter. DCGD is defined as "the Company." Note also that the letter is using "Discovery Gold" letterhead.
GRN Holding isn't mentioned but since the letter was released on the GRN Holding site, and the name change is to "GRN Holding" I think it is still safe to assume DCGD == GRN Holding. The letterhead is evidence of that as well.
GRN Funds will remain private it seems. Anyone read that differently?
100K bid @ $.41 just disappeared
LOL exactly!
If only they *did* follow OTC Markets...I am in VRUS and they are OTCQB, been current for something like 2 years straight and Etrade won't allow electronic trades to go through. You have to call them. Glad I am on TDA.
I got zero I was really expecting a fully-formed OTC RS panic sellout, complete with peasant revolt and animal sacrifice. You people are very disappointing!
I didn't get any either...come on people, panic already! I really wanted some in the .015 range, but had bids out as high as .0185. Nobody bit.
They have no plans to issue more stock, stated in the 14c. They would not say this and then do it, lest they get sued and raise the ire of the SEC.
If this was a "normal stinky pinky" then I wouldn't pay any attention to what the company said. But this is clearly not your normal OTC stock. These guys paid a lot for the shell, and have maintained it perfectly. You don't do all this and then do an R/S screwing your shareholders through dilution.
They are going to uplist so they need to get the stock price above $5 and keep it above $1 for NASDAQ. For the NYSE they need 400 shareholders, $40M market cap and 1,1M shares available to the public. Also, the share price must be at least $4 at the time of listing.
I think the uplist is obvious from the 14c. Look at the "purpose" section.
All IMHO of course.
https://www.sec.gov/Archives/edgar/data/1342219/000155116319000202/pre14cfinalvedgar3.htm
Calendar days
Likewise, I am buying more.
It is likely some will only know about RS from the OTC where it is frequently used as a weapon for scammers. These people, ignorant of what they own, will panic and sell and I plan to buy every share I can. I expect I won't be alone unfortunately
Uplist! This has everything to do with getting the stock in shape for an uplist to (probably) NASDAQ. Higher pps, no dilution (per the 14c). Big (huge? enormous? I need better adjectives!) things about to happen IMHO.
Good/bad? My view FWIW
The "purpose" (see below or the 14c) strongly indicates the desire to uplist. They also want to increase our of pennies so that the stock may be more freely traded. This RS will exempt us from the "penny rule." This alone is a big upside.
They also specifically assure that they have no plans to issue or sell shares that would affect the O/S. This is directed at all current shareholders to calm our nerves. KRBF mgt. know that an R/S can be used to effectively shut out owners of the KRBF shell. This is common on the OTC...reverse split, raise A/S and dilute the snot out of the pps.
Since KRBF is specifically stating they are *NOT* doing this and they don't want trouble from the SEC (look how pristine they are with filings for evidence) I don't think we will see any additional shares until they need to raise money to finance their operations. Since these are industrial in nature and therefore capital-intensive I expect this will eventually happen but *after* the merger. Perhaps long after.
Summary: I think the 14c is a positive indicator that KRBF is going to be huge, probably bigger than our wildest imaginings.
From the 14c:
Pre-split
O/S: 195,645,159 A/S: 300,000,000
Post-split
O/S: 1,956,452 A/S: 300,000,000
Kreido Biofuels, Inc. has no current plans, proposals or arrangements for the issuance of the shares that will result from the effective increase in the number of authorized shares that will result from the approved Reverse Split.
Purpose
The Board of Directors believed that it was in the best interests of Kreido Biofuels, Inc. to implement a Reverse Split on the basis that the high number of issued and outstanding shares of common stock of Kreido Biofuels, Inc. would likely not appeal to brokerage firms and that when trading, the current projected per share price level of our Common Stock will reduce the effective marketability of our Common Stock because of the reluctance of many brokerage firms to recommend stock to their clients or to act as market-makers for issuers which have an excessive number of shares of common stock issued and outstanding.
https://www.sec.gov/Archives/edgar/data/1342219/000155116319000202/pre14cfinalvedgar3.htm
DCGD was indeed promoted on pennystocks.com back in, oh, 2012 or something. I don't see any indication there has been a more recent promotion. Perhaps the poster will provide some more detail, but I doubt it.
Finish today .76 - .79 range and all is well.
If listed as an ETF then yes. I don't think that is the plan, though I don't know what is involved in listing an ETF.
Is a "quiet period" relevant here?
I know the SEC requires a 2 week "quiet period" to precede certain corporate actions. In DCGD's case I don't think any of those apply.
In other words, I believe they can continue with announcements, news, PRs etc. while they have the merger and name/ticker change in process.
Anyone believe differently?
Man DCGD is wound up tight!
Any news at all and its going to explode.
LEEF
What will be the first subsidiary in GRN Holdings? GRN Funds? Florida MJ banks? Soulshine? The list is rich with great candidates!
Yes I believe this is a possible scenario. Afterwards GRN Holding would essentially be GRN Funds trading as DCGD.
A slightly different path is that GRN Holdings merges into the DCGD shell and then acquires companies as subsidiaries. GRN Funds could be one of several entities wholly or partially owned by GRN Holding.
MMs shook out weak hands to fill their war chests. Naturally it worked. It always works.
Three different MMs that I saw set up a 100K wall which pushed the bid down, then they make a few trades to make the pps go down and before you know it people are panic selling. The MMs pick up a bunch of shares at around .20 that they can use to control the flow tomorrow.
Just my humble opinion of course.
If rumor is close to correct, this is the last day we close under .30.
LOL! I sold my kids kidneys...well one each anyway, I am not cruel
Good luck getting 250K at .20.
LOL the MMs are taking turns with this 100K wall. GTSM, ETRF and now NITE. They are scrambling for shares, perhaps they know something big is coming.
10Q is still almost a month away, something else is causing this action.