ok lets look at this again:
Ubiquitech Software Corp. (OTC: UBQU) is pleased to announce that during its fiscal second quarter, more than $1,000,000 of convertible debt principal and accrued interest has been forgiven by its largest lender.
at last financial report, the "Growing concern" claimed UBQU was 7.5 M in debt YTD...so My sophmoric expectation on next filing we'll be 5M+ in debt there as a "growing concern"...which is where we were 2 quarters ago...
On May 2, 2023, a judgment was entered against GPL Ventures and other GPL parties in a case captioned SEC v. GPL Ventures et al., 21 Civ. 6814 (S.D.N.Y.).
I don't have time sadly, and the DD guys might dig this up, last time I searched GPL ventures I saw an article from FINRA but UBQU ticker was NOT mentioned. perhaps this S.D.N.Y judgement specifically mentioned UBQU.
The judgment requires GPL Ventures to surrender to Ubiquitech Software Corp. all unconverted convertible notes in their entirety as identified in an appendix to the judgment.
yeah, perhaps GPL will not have control any more which still leaves me believing once UBQU runs, someone will sell those remaining 21B
- could be Ballas....doesn't necessarily mean ballas is still the head crook. sure I hat tip to the DD guys ballas is a crook still. it could be semantics that GPL the 'big guy" can't do the selling themselves but the pawn still can. even tho GPL got hand slapped, nothing in the judgement talks about how much MONEY UBQU still owes GPL
- or it could be A2C or someone ELSE who wants to dilute. no matter what, someone wants to dilute. retailers aren't buying, so they must have a reason to entice SOMEONE to buy. hopefully they are smarter than me and understand that indeed, retailers are DONE it appears buying UBQU at trip 2 or over.
The final numbers will be reflected in the company’s financial statements filed with OTCMarkets.com on or before July 15, 2023.
this is the line that made me smile. They intend to stay pink current. and I don't think they plan that because they think they'll get retailers to get rug pulled again.
lastly, this could be another positive. Why so little fundamental PRs? why so little action?
well the lawsuit. took months to settle. perhaps they needed this little kerfuffle to be cleared before they can reverse split or more hopefully, symbol change execute, do some fundamental or share structure improvement on IMTL.
it took about 6 months for larry Adams of GPL to ...die and his widow to "hand CEo-ship" to ballas for 25,000 dollars.
these things move slower MUCH slower than we retailers want.
for stocks that could squeeze make retailers rich and megafirms take million or billion dollar hits.....if the courts move at ALL, they move slow.
so sure I'm patient. I can wait.
