The AFPW CEO, Ryan Schadel, doesn't even know that AFPW is an SEC filer. He is on twitter pumping the stock as a reverse merger play and saying that AFPW is a voluntary filer. What is it with these OTC CEOs not understanding that once you register your stock you are an SEC filer period unless you file a Form 15 to deregister.
Please note I will not answer any questions about $AFPW RM in a DM. Attached is my response to questions that have been sent to me. Im not a lawyer or accountant. This is only how I see it based on my knowledge and exp with SEC/FINRA. Cheers. pic.twitter.com/GpsI9FHH2p
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) March 13, 2018
The last required SEC statement filed by AFPW was the 10Q for the period ending June 30, 2016. The Issuer is almost 2 years delinquent with its required SEC filings and is very much a candidate to get suspended and revoked as a delinquent filer.
The company failed to file its 2017 annual report and pay its 2017 annual taxes.
The AFPW CEO kicked off the reverse merger rumors by retweeting a tweet put out by Dark Pulse Technologies on March 9, 2018 about signing an NDA to begin reverse merger negotiations
Then the AFPW CEO put the reverse merger pump into high gear on March 12, 2018 by tweeting that he executed an NDA with a possible reverse merger candidate on March 8, 2018
On behalf of $AFPW as its CEO, on March 8, 2018 I executed a Mutual NDA with an unrelated private corporation for the purpose of exploring a possible reverse merger with said company. We have ceased conversations with any other reverse merger candidates until further notice.
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) March 12, 2018
A CEO of an SEC filer that puts out this much insider information about a potential reverse merger ahead of anything being signed and disclosed in an 8K is trying way too hard to pump the share price and throwing up all sorts of red flags.
The CEO claims that of the $4.6m in liabilities last reported in the 10Q for the period ending June 30, 2016, the only debts that mattered were the $706,000 in derivative liabilities, $667,000 in debt Notes, and $209,000 in interest on the debt Notes. He also claims that some of the debt Notes have been paid off leaving approximately $450,000 in Notes and $209k in interest to go. Schadel further claims that if the Note holders want to get paid back they will have to "take a hair cut". Schadel also leads investors to believe that any payment on the remaining debt won't come until after a reverse merger is executed.
Please see the attached for my response to the question: How will the current debt be handled at $AFPW as it related to the RM we are working on. Im not a laywer or accountant but this is how I see it. Cheers. pic.twitter.com/y4CSqfcw3T
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) March 15, 2018
On top of all that AFPW has been doing 8Ks for new Debt Notes during 2017
— Ryan Schadel - CEO of $MVCO (@CRyanSchadel) March 12, 2018
But if the Transfer Agent is supposed to be ungagged why is Ryan Schadel blacking out the contact information which would help others be able to contact the Transfer Agent in the future? I guess people should be smart enough to find the First American Stock Transfer website and either call them or use their online contact form
For now the AFPW CEO has a bunch of retail investors eating out of his hands creating a lot volume for the stock.
AFPW will definitely be an interesting stock to follow moving forward for all the reasons mentioned above.
- AFPW is being pumped hard by its CEO on twitter as a reverse merger play. - AFPW is a delinquent filer despite the CEO stating otherwise. - AFPW has debt issuers which make AFPW an immediate dilution threat despite the CEO claiming otherwise.
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