rofl. back in my snarky days on this floor, I used to joke that one would need cannazall to deal with the stress of trading UBQU.
interesting morning development. UBQU OTC has the price resting ...again...at 000098
more selling ballas direct A/S to his "golfing buddies" ? more shenanigans by the Market makers where they bypass all our retailer bids at 0001 and close the big sales at 000098?
honestly if it was Ballas' intent to sell as much A/S as he could I would have expected the 1B+ bid to get hammered as soon as it jumped up 3 to 4 trading days ago, during the Bear market rally
instead we have these huge hits take place during the reddest days of the S&P.
I don't think the near term future for the PPS of UBQU looks bright, but I really do think the LONG term future of UBQU PPS looks bright.
at this point, the Converters are in a bad place, because their original MO was to wait for a run, sell as much A/S they could at say....8....pocket 800,000 at 1B of sales and FORGIVE only 50,000 of ballas' 1.6M remaining debt.
wonderful for converters, horrible for UBQU and who would be blamed for the dumps? why ballas of course, causing retailers to capitulate driving the PPS as low as possible thus making sure that 50% of that lowest benchmark would be the "forgiving debt" price, regardless of how much the converters converted at the run.
so at this point If I were james ballas, I'd be trying to convert as much of the A/S as I could with as many "golfing buddies" as I could at 000098, pocketing that money, and turning to the converters and saying here ya go boys, 10% yearly interest, plus some overpayments of principal just like a normal bond overpayment.
of course I have no surety of what's going on with these sales, except since I do have a bid at trip 1 anything closing at 000098 under my bid and not filling my bid, if done by MMs is unethical at least and probably illegal but hey, worst thing the MMs typically get is censure and a minor fine, much less than the profits done by shenanigans.
Not sure the next financial will see the revenues from today, June 13th etc with teh new website. but one or two in the future, we WILL see what shares got converted and by whom. and the remaining debt, which was 1.6M before. if profits contine to stay steady or even eke upwards (minus new products) and debt continues to reduce I'm hoping by about 200K to a 1.4M debt target, I'll be ok with the direction UBQU is taking.
today looks like we might have a dead cat bounce day on the S&P. but my outlook for this month and especially this week is grim.
with that being said, if green today, we probably won't turn over to nobid, and stay with tiny volume.
but once powell speaks tomorrow and the next rate hike is mentioned, I anticipate another market wide selloff and then we go to nobid.
I kind of expect the bid to be 200-400 million on open, so because of this move and some retailer fear and some momentum on yesterday's panic, I'm not 100% holding to my theory we don't visit nobid tuesday morning. but with all this being said, UBQU looks better than Pink. It is communicating with its investors no matter how angry those investors might be. like all companies, it has a LOT OF HEADWINDS including the fact that half of its "investors" hate the CEO and hate the stock to be honest, plus the SEC, OTC, the bond holders and MMs never liked the stock since 2018 (it wasn't until NOW we realize that it went back to 2018). so, imo with all these headwinds I'm amazed UBQU is still even standing in these markets.
And lastly, it has definitely upgraded the product, done a fine job of rebranding, has reached out to new markets (europe) no matter how crappy that new market's economy might be....in essence, increased the probability from near 0 to 1-5% of going viral. Once viral, all past financial models applied right now to UBQU go out the window.
I don't think we'll see the "positive catalyst" of legalizing MJ in the USA will happen this administration. but imo that's bad for stocks like tilray canopy growth and aurora, for a company that has focused on non-THC CBD oil...even legal to buy and ship to ...texas....(all 50 states) the more they keep the lid down on THC the better in my opinion. and of course, I am sure that becaue of euro markets, UBQU is designing lines of THC products ready to go in 2023 to europe, and in the USA the second my theory is proven wrong.
if they did legalize MJ, we'd get a news catalyst bump across the markets, perhaps some of these larger stocks would squeeze....long term I don't think it will hold because the fed government already taxes state legalized MJ. and from what I've seen, the local states have their own in state brands that the local users prefer. it's the microbreweries destroyed big beer syndrome.
the good news for us in UBQU is that we're already at the bottom. so regardless of all these predictions I'm making, we have nowhere to go but up.
in the end, imo, Ballas should be doing everything from mortgaging his house to begging elon to buy the 1.6M debt and re-finance his loan at 4% no conversion with papa elon, and paying off the converters and ending their play, anything to squeeze the converters out of the play. then when I see further A/S come off the top? yeah, then I'll want to know why UBQU is doing that.
and after that, no further loans. oh Ballas could keep 1-2B A/S after a cancellation so if he got a fomo to penny......HE could sell that last and make a war chest. I'd be ok with that. same thing happened to the biggest memes in the play today.
but as long as the dilution pig continues to sit here, and if Preya and James are reading this, yeah, none of the normies are going to fomo into this stock again. no matter how good the PR is. I think at the very least a trader like Preya gets that.
but at this time I don't think they are hoping to get us retailers to pump the stock regardless of their PRs, I really think they are focusing on increasing PGM to 100M (if they can) more the striving than my belief they can achieve that.
