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I suspect they don't even have any business with the whirly birds. There is nothing here.
FYI from a real eyewitness account earlier today. Though, this should really come of no surprise.
I went to Walgreens to get a prescription filled. While waiting I was curious to see what the old Fuse product was up to. There were 3 boxes of Electro left and a big red clearance price tag on the row they were in. It was around $3 off. I looked on the box to see the expiration date. They expired 5/2015.
I suspect if I see them again, they will be in a garbage can. I may go buy them just so I can take them home and set them on fire.
FYI from a real eyewitness account earlier today. Though, this should really come of no surprise.
I went to Walgreens to get a prescription filled. While waiting I was curious to see what the old Fuse product was up to. There were 3 boxes of Electro left and a big red clearance price tag on the row they were in. It was around $3 off. I looked on the box to see the expiration date. They expired 5/2015.
I suspect if I see them again, they will be in a garbage can. I may go buy them just so I can take them home and set them on fire.
What does the A/S have to do with anything? Other than it's all used up and there isn't any A/S left to create the stock for warrant conversions. In which case those warrant holders will have to be given the assets of the "company" because they can not be given stock.
Are you the scout that comes to the boards and proclaims nonsense before the hype herd comes? If that's the case, then that IS a good think for these stock holders here. That's the only thing that will drive the price anywhere, not anything concerning business with this hocus pocus "company".
I agree that is their only 2 choices. I'm very surprised that with is at stake they couldn't get the quorum needed. Does anyone know what that number was anyway?
If there was going to be a run based on news of the R/S not going through, I would have thought it would happen since the 8K came out. For you guys still in this, I hope it does run so you can get out because the future looks bleak at best.
Are the warrant holders able to convert as of now? Even they will get taken to the cleaners. At least they can get something from selling off assets in liquidation if they decide to convert.
Sorry, I haven't been keeping up. Where does it say RS was not approved?
People bought after the last two reverse splits, I assume some will still buy after the third. They will say that the share structure is back on track and now they can get on with business, and perhaps run a pump campaign at some points. The problem, I think, is that their efforts post split may bring in volume, but it will not bring much price appreciation. All of the volume it may bring will be used for the newly converted stock to be sold into.
Correct! The vote will approve the RS no matter what you all vote. Once it happens, they will then have enough authorized shares to cover the outstanding warrants that will be converted to stock. When the conversions happen, dilution will drive the price down again. The only think I'm not sure of is when the conversions will happen post split. It may be soon, it may be a while. Either way the door to dilution will be open.
It makes you wonder how competent the management is to have bought into a shell that was so screwed up share structure wise, and after they buy it they claim they didn't know how bad it was.
Yep, at least this one they told you somewhat plainly. They need to do the reverse split to have enough authorized shares to convert warrants to stock.
I take that to mean they anticipate the warrants being converted when they are able, which means dilution after the reverse.
Absolutely!
You can do whatever you want, its your money. But, don't you usually do the research, then decide if you will buy? If you buy then do the research, its like waling out into the middle of the street, then looking both ways. Good luck!
Nope I'm not shorting, I don't even own it anymore. I just like the drama of watching it. I lost just under $200 on this.
Amateur was your word, not mine.
I do understand support and resistance, pretty basic stuff. My point was two days ago, or so, people were making statements like, "this is the bottom it can only go up from here". Now suddenly that bottom is resistance to break through. Even after making such claims of solid support.
Two days ago you were an amateur asking for help and today you are a pro giving advice. If anyone should listen to you, its on them for being even more amateur than you, so you have no guilt to worry about. You're just doing the typical pink sheet pump. I hope it works for you.
Two days ago you described yourself as, and I quote:
The worst advice ever! Throw good money at bad? Yikes! It's a good thing this forum is dead and no one is reading any of this or that.
Resistance? I thought people were saying .002 was the floor and it got just broke yesterday.
They won't cancel it.... they can't! The survival of this "business" depends on that reverse split happening.
The whole reason for the reverse split is to decrease the outstanding shares, while keeping the authorized share count the same. That will give them the available authorized shares to create new stock from for when the warrant holders decide to convert to stock.
So, not only will you get a reverse split, you will also get more dilution as new stock is created for the conversions.
If you don't understand what any of that means, you really shouldn't be here. It's pink sheets 101. I've described what's happening and what will happen in detail in previous posts. If you care, go look those up.
I'm sure it will make you feel better to vote "no", but the reverse split will happen despite what you vote. Your best hope is to keep calling this a bottom and trying to assure everyone that it can only go up from here.
Perhaps some poor souls will stumble across this stock and see your repetition and believe it. Drawing in new meat to buy it up is the only way for the old meat to get out before the reverse split.
I'm surprised they haven't applied to change the ticker symbol yet. They've done everything else on cue as expected.
Anyway, I'm not bashing. Just like any other hoax, you may get a frivolous pump at some point that will give you the opportunity to make money. I just hope know one is really buying that line that you can control the vote, and that they won't reverse split again.
Just pay attention to any dates where they say or imply the reverse split will happen, because it will. Be gone before it does. It will wreck your account and it will be followed by more dilution.
You don't hear from the pumpers who were encouraging everyone to but the float to control the vote because they probably made a little in that last little run and they sold out. They could care less about a vote. They just wanted you to care so they could sell their shares to you.
How long is "long term"? The reverse split WILL happen I promise. They need to create available authorized shares to be able to convert warrants to common shares. So, sometime after the reverse split, those conversions will most likely be made. That will cause dilutions. After the dilution you will need some good news and a lot of forward progress just to, hopefully, get back to your cost average so you can at least break even. That's assuming that no more negative events happen after the dilution, which is HIGHLY unlikely.
So, I hope by "long term" you are talking in realistic terms of "long". Like many years!
This is true, you may be able to catch a pump before the split. My only unsolicited advice to you or anyone who cares is that once you are in the green, get out! Don't get greedy. Protect any profits you will hopefully obtain before the split. The split WILL happen. I guess I'm supposed to say in my opinion, but I guarantee it will happen at some point after the date. It has to.
The problem is, there are PLENTY warrant holders out there that will be able to convert those warrants to common shares. To do that, the company takes from their authorized shares and turns them in to common outstanding shares in exchange for the warrants. The problem is, their current outstanding shares is the same as, or close to, the same as their authorized share count.
That means all their authorized shares are used. If the warrant holders decide to convert, the company will have no bank of available authorized shares to create common shares from. If that happens, the company will owe those holders the value of the shares. In other words cash or assets that equal the value of the would be common stock.
That would severely hurt this company and likely bankrupt it. So, by reverse splitting they effectively reduce the amount of outstanding shares. Without also reducing the authorized shares in proportion to the split, that would give the company the available unused authorized shares to create common shares for the conversion.
for instance, now O/S = 1000 and A/S = 1000. You are authorized to create 1000 shares, but the outstanding shares is already 1000 so you have no available authorized shares left to create more stock
So, you do a reverse split 100:1. So for every 100 shares you have, you are given 1 in return. After the reverse split, the O/S will become 10, but the A/S remains 1000. Now you have some breathing room and you can create another 990 shares.
That whole scenario also implies that the company is expecting to have to convert warrants in the near term. When all those new common shares are converted, it will cause big dilution.
The only thing I don't know is when those warrant holders are able to convert. That will be an important date. I say the reverse split will happen because that is how they will fix their problem.
The shell was a wreck, they proved they were not smart by reverse merging into it in the first place. They blame all this current turmoil on previous events. Did they not know about the dismay this was in before they bought it? Time has already spoken, I don't think this Ezra guy is too bright.
Ok, I found what you were stating. The split WILL happen no matter what the price is. It has to!
Currently, the authorized shares have all been used. That means there are no authorized shares that have been unissued. Which means if the Series A holders decide to convert their warrants to common shares, there are no available authorized shares to create the needed common shares. In that case, the company will owe the Series A holders the value of the common shares. If the company had to come up with the cash to pay them off, they would be sunk.
Where did you get that info from?
Let's start with this, if they don't get the votes, it will negatively affect their forward looking statements. According to the 10Q They need to raise 1.5 million in 2015 to continue operations. Each maneuver like this that they make is to secure that amount so they can continue being a business. So, do you think they will let their fate rest on the vote of the common shareholders? The purpose of selling stock is to raise money through private placements and warrant conversions, its not for your benefit as a retail investor.
It doesn't matter how many shares or votes you have. The management has the majority of the vote. They/He has all the voting majority. Go read the 10Q. The float is only a part of the outstanding shares. Management owns at least 51% of the outstanding shares, so they will do what they want. Their vote will always outweigh yours.
Really? You think its just that simple? Do you know what percentage of shares they owner owns? Do you know how many preferred shares and if or how many voting rights each of those shares holds?
Do you seriously think they will proxy the shareholders to a vote in which there is a chance they can't win? Go back and read the 10Q and see how their shares are structured. I promise you, management has well over 50% in their pockets. You could own the entire float yourself and their vote will still outweigh yours. All this proxy business is just to adhere to rules. In the end your vote doesn't mean anything. They will do what they want to do regardless of how you vote.
Because no one is buying it. It's a pink sheet, most people don't believe it as they shouldn't. If this was on a real exchange, maybe it would have more credibility.
All these scams just buy a shell and stick a label on it that contains the latest buzz words. Energy drinks, Drones, Medical Marijuana, solar or whatever the latest craze is, is what they say their business is. If cow crap becomes the hype of the day in 6 months from now, guess what their business model will be then?
How about HealthSport? They were pretty identical companies. A lot of the same people that were involved in both. They had Shaq under contract in his hay day and that company went under as well. It was all the same people from there with all the same fantasy "technologies" that became Cure, who was the manufacturer of Drops. Why would you think Fuse would end up any different? Why don't you do some DD? If you would have we may not be having this conversation. But no, you let that fool Tiger Woods do your thinking for you. Now you want to make everyone that reads this board suffer for your laziness and ignorance.
Without knowing the terms of contract, how do you know it was broken? Sure it was a 5 year contract that was most probably littered with stipulations and outs for Tiger Woods. The fact that the contract was most likely written with very kind terms for Tiger is probably part of the reason he signed a piss ant nobody company to be on his bag when he could have had a real company on it.
Of course, me saying that is just as much hearsay as you claiming the contract was broken. None of us will ever know for sure unless we got our hands on the contract.
No one new invested in the scam you were victimized by, they invested in the new one.
Why did you give Tiger Woods so much credit? He is a known person with paparazzi and TV time where I am just some anonymous nobody on a message board. But, when you get down to it, you don't know him anymore than you know me. So, what makes him more trustworthy or believable than me. You know his face, but not his integrity. When it comes to just integrity, Tiger Woods is no more than me. You know nothing of either of us, so what made you just give your brain to him and let him do your thinking for you instead of doing the same to me?
In the end, you should have given me your brain. I tried to tell you the patent was a hoax and Tiger Woods research team was a sham. I had nothing to gain out of telling you that, but Tiger Woods had everything to gain by playing along with the lie.
A TV camera does not give one righteousness. In fact, most people who get in front of the camera had to walk all over people and do some pretty unscrupulous things to get there.
Your loss is just that, your loss.
How is it that just a coupe of months ago you guys were the biggest cheerleaders with crazy reason why DROP would make everyone rich, then today you are the biggest doom and gloom shouters?
What made you go from one extreme to the other?
Yep, it was something like that.
No, that's for the A/S increase. They never gave a deadline for the R/S that I know of.
I don't doubt that about the CEO one bit! However, I'm hoping we get to the .0001. I figure I have a small position and at .0001 I can average down at the absolute bottom. If it never comes back up then "oh well". As always, I buy pinks because I like to gamble, not because I believe any of the companies are legit. Good luck to you as well.
I'm just curious, why did seeing 2's from 3's mean anything different than when you saw 3's from 4's?
There wasn't 3. If this one happens, and it probably will, it will be 2.
First off, I wouldn't ride too high on my horse because you called a pink sheet stock a scam. That's more of a captain obvious than captain crusader.
Secondly,scams are usually predictable. When you trade stocks, finding predictability is like finding a genie bottle.
I already addressed those questions. I did take that into account. I'm counting in them raiding it, converting it and then selling it. I never said this company, or whatever you want to call it, us legit. Im 99% sure its just another pink sheet scam. Im playing the scam, not the company. I have a small stake, the only way I'm buying more is if it does get to .0001. If it doesn't go the way I predict, oh well. But, so far its all going according to plan. The difference is you see this scam as a scam. I see it as a potential opportunity. You have to know what you own.
I guess we will find out soon enough. There is no telling where the price will be when they reverse it. It could be .0001 or .001, which would be .001 or .01 post split. I'm will to see what happens.