Monday will be green...maybe even tuesday....and then we'll be back to the same old game...unless we hear something new.
I've spent hours going through all this now and there is NOTHING that indicates that the O/S is reduced in any way. Instead the 500,000,000 PREFERRED shares were ISSUED. What was the conversion rate again? How many common shares does that potentially work out to?
I was getting ready to drop another $10K here come Monday...I won't be doing that anymore and will likely be selling to those willing to buy the BS of 'trusted' people on the internet...and re-entering lower on Wednesday or Thursday...
I'm in this quite heavily and will be very happy for profits coming for my buys from this week (yesterday especially), however, I am starting to get tired of the misinformation being spread here.
First the A/S is supposedly being reduced by 14B? Really? No proof of that anywhere...quite the opposite actually...after the holding period 14B shares could potentially hit the O/S...and that's just with the preferred shares issued to date...there were 500 MILLION issued, which leaves more to be distributed at will.
Then, somehow this means the O/S is reduced by "about" 1.5B...seriously? We've been given no explanation or reasoning for why this would be the case and again there is absolutely nothing in the filings that suggests this.
How people turn a statement of one preferred share being converted into 500 common shares into some kind of proof a share reduction is beyond me...
Honestly, I think it's just been so bad around here lately that the first possibility of something good is being blown way way out of proportion...with very clear assistance from a particular few....
...I mean weren't we supposed to be getting a shareholder update clearly addressing debt and clarifying the current share structure? At least that's what Paul has been telling everyone that emails him over and over again for weeks now...is dilution over? What is the share structure? Why do we STILL not know this? WTF Paul...I emailed Paul moments after the first filing came out and got a VERY quick response....from his assistant...saying he's gone and won't be back until Monday. Ya OK, it was a Friday, but it was also a Friday when he knew a bunch of filings were going out...for the one IR guy to have left before 5 PM on a day with 5 filings going out...disappointing to say the least and very likely not a coincidence IMO.
I guess overall I'm just disappointed in how things are playing out here...it's becoming quite obvious that APT isn't doing nearly as well as we thought they would be. Not only were they debt-ridden before getting into the deal (as evidence by the IR deal)...they're immediately taking on more debt. Granted, it's a relatively small amount right now ($365,500) and won't be due for another year, but I'd be willing to bet they will not be the last notes taken on by APT...hell we haven't even gotten to the ticker change yet and they're leaping at the opportunity for more toxic debt...and yes, convertible notes are toxic, don't kid yourself.
The best thing APT has going for it, I think most of us can agree, is its future potential...and at every turn...they seem to be defecating all over it. I do, sincerely, hope that changes. As of now, however, APT seems to be enjoying their new public company and are taking advantage of our money at every opportunity...which would be perfectly fine IF there was shared benefit...so far we've been used to pay their private company debt (and are probably not done) AND these last filings are literally just them getting ready to fill THEIR pockets 540 days from now...has anyone done the math here? 14 BILLION shares even at these prices are worth over $70 MILLION DOLLARS...for like 5 people....and we're supposed to cheer for that? Where's the shareholder benefit in that? Over $70 MILL for 5 people (substantially more at higher PPS) and what do the thousands of shareholders get? ...after the beating shareholders have taken, you would think they would throw us a bone out of pity, if nothing else.
Also, any hopes of a reduced A/S are pretty much out the window...currently at 20 BILL, with 14B already set to be converted at some point in the future at least 540 days from now...add the current O/S of, what like 5B or so, to that and we're pretty much capped. They won't be R/S'ing or getting rid of shares that they need to eventually cash out on the money they just gave themselves.
Again, I'm in this heavily and while I have plenty of free powder available...am far from desperate for 'cheap shares.' I don't see any of this as good news, except perhaps the potential of some kind of relationship between FROZ and Kai Long that could potentially prove profitable...but that amounts to very little at this point since it's all speculation and is stacked next a big pile of ugliness.
There's money to be made here still...but it'll be at the expense of others for their failure to see things as they are...
AI
