Warrants trading
I was surprised to even find out there are symbols for the common (HYCT) and the warrants (HYCTW) .
I put in an order for both. The HYCT seems to have no market at all BUT I am told by my broker that they could place a call to the trading desk and they would find out if there was any market.
The warrants, HYCTW, does trade and can be bought or sold through the regular system just like anything else. I was able to get some warrants by putting in an order near the start of the day at the ask $0.1198. The thing that can't be done right now is to exercise the warrants. My broker says they have or see no terms with the warrants so they have no way to go about exercising them, plus some of the filings indicate the warrants can only be exercised certain conditions.
I also have an order in for the common shares (HYCT) but it is not going through to the automated system. I was worried about the online site showing the bid and ask prices as zero, and the shares on the bid and ask as both zero. Normally when a stock shows like that you can't put an order in, plus it showed the last trade at $0.0001 on Aug 01, 2019 at 10:33am. I was able to put in a bid at $0.0001 for 100,000 shares, and the system took it, but it does not show on the bid/ask still. I was able to raise the bid by going up a $0.0001 at a time and have the bid price up to $0.0005 right now.
I think it might be possible if the bid was high enough to get a few more shareholders and get over the 500 shareholder number to get the company to start having to report again. Once that happens then things CAN start to happen for the company and the common shares and maybe even start to drag the warrants along as the price of the common shares start to trade and hopefully rise in price.
Other places seem to indicate that the warrants are good until 10/2022 and the exercise price is around $8.42, but I have not found anything 'official' to confirm this.
I had hope to exercise a warrant to get a share of common stock, which then would allow me to get a copy of the financials. Part of the reason I want to do that is because they are 25% owner in a mine with West Kirkland Mining and if gold prices rise, I expect they would be either need to be bought out or contribute to getting that mine going.
There is also another mining company nearby, Tonopah Divide Mining Co (TODM). I ran across then years ago, and thought they were completely 'dead' since they have no web site, little written and publish nothing BUT I found an email address on an old posting, sent an email, and got a current annual report a few weeks later. So it appears TODM is more 'mothballed' waiting for gold prices to go up. So they have some rights in the same general area and West Kirkland is paying them $75K per year and, if memory serves me correctly, there are rights that would raise that to something like $225K per year. Again, I would view as revenue being generated on TODM rights in the area to be an indication that HYCT and HYCTW would have some value. The problem is that without more information and a management discussion it is impossible to tell how much value or what gold would need to go to before the value started to show.
Louis J. Desy Jr.
Louis J. Desy Jr.
