Tundra,
The following is from an old post of mine during the first half of 2016. I continue to believe dilution is ongoing (the reason we have witnessed well over a billion shares trade recently). However, several telling differences exist today (IMO), one of which is the fact the pps has risen to .0002 on numerous occasions (until this year .0002 did not exist and could not exist, as you will see below):
"NEOM's pps is strictly tied to .0001 due to the financial structure associated with their debt. It does not deviate; you cannot cause it to deviate.
Years ago, Yorkville Advisors (YA) was granted convertible debentures by NEOM in exchange for financing (currently $40M + interest). Additionally, under the terms of the arrangement, YA earns 5% on any debentures it converts into common shares and sells into the market. This is free money for them.
Any news which might drive a typical company's pps WILL NOT DRIVE NEOM's PPS. As rapidly as demand rises, YA converts their debentures into common stock and floods the market with shares to meet this increased demand, and the pps remains constant at .0001. You witnessed it first hand several weeks ago when several hundred MILLION shares traded in each of several trading days.
I STRONGLY SUGGEST AVOIDING ANY INVESTMENT IN THIS STOCK UNTIL NEOM REPAYS 100% OF IT'S DEBT (which it has made very little progress with). THE LAW OF SUPPLY AND DEMAND, AS IT RELATES TO NEOM, RUNS COUNTERINTUITIVE TO NORMAL STOCKS.
Regardless of the number of aggressive attempts at pumping the stock, the pps has remained precisely at .0001.
THE STOCK HAS EXPERIENCED "TWO" REVERSE SPLITS, AND IT IS BELIEVED (BY MYSELF) THAT ANOTHER R/S IS REARING ITSELF, OR THAT YA WILL TAKE THE COMPANY PRIVATE. THE LEVEL OF DILUTION INVOLVED HERE IS ASTRONOMICAL. UPON THE LAST R/S IN MAY 2014 THE O/S WAS APPROXIMATELY 33,000,000 SHARES. AT THE CLOSE OF SEPTEMBER 2014 (A SPAN OF 5 MONTHS), THE O/S WAS IN EXCESS OF 3,000,000,000 [3 BILLION SHARES], AND GROWING!!!
These past weeks should serve as testament to the above. This has been an extended and repetitive history. When Neom repays the debt in FULL it becomes time to buy...but to date they have not made so much as a dent...and the interest builds.
ALL OF THE ABOVE...MY STRONG OPINION based upon extensive repetitive history, and exhaustive due diligence!"
Best,
BC
AI
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