Replies to post #13470 on Solei Systems Inc. (fka SOLI)

[MWM]

OHHHHH now that changes things!!!!

[threewheeler]

dam brother, its basically a done deal already then for the share cancellation, nice SOLI/SOLId

[Frankp]

DAMN!

[DTGoody]

AWESOME NEWS!!!!!!! THANK YOU SMITTER!!!!!!!!!!!! $$$$ SOLI'D $$$$

[MamaRobyn]

Now I really have butterflies!! Your the best!!! Hang on tight everyone, the ride is about to begin!!

[EdF]

Or any hour now. Huge update Smitter, thanks for that. And thank you to your special clerk friend. She's the best!!

[TB0511]

Wahoo!!!

[premier1one]

Holy cow...open the floodgates glad to have that put to rest

[hotstock_be_007]

Great news! Thank you for checking and confirming.

SOLI great future!

[Norgy]

You da man Smitter, hell yeah.Soli.

[badabing1us]

Wow awesome!,,,

Thank you for that , I too was tense about getting this behind us.

Badabing1us

[twbrokewaterhouse]

O wow just saw your earlier postI guess all is clear for uplist!!! We could see judgement sig today!!!!

[Sam'd'Mil]

#Awesome $SOLI post bud... Let's go!

[/
smitter Member Level Wednesday, 06/19/19 09:57:06 AM
Re: MWM post# 13458 10.000
Post # of 13736



Attention SOLI Shareholders!

I just spoke to court and “CONFIRMED” and I am sure MWM can even confirm with his Attorney friend. The Last day to Respond was Yesterday NOT today!

I miscounted the days and per the Notice of Default it’s specifically states May 20th as the start date. Yesterday was 30 Days!

You can go count them on your Calendar as well!.

So any day now we can see Judgment in our favor!

BOOM! SOLI

Here is the 30 Day Document


quote]

daiello Wednesday, 06/12/19 07:16:42 PM
Re: smitter post# 12495 1.000
Post # of 13737



The market cap today is $135M.

In the real world when shares get canceled the market cap shouldn't change, so if you pull out the 12.6M from the O/S and left the same value we should be trading at $1.30.

More meaningfully though would be the fact that the float is being reduced by nearly 25%. This board must own at least 20% of that new float and most of us are holding for the big bucks. If institutions are buying in this area, who's going to sell at $3, $4 or $5? Not going to have many shares to go around when everything is made public.

Additionally, this cancellation makes way for the up-listing. The up-listing makes way for PRs, and in a few months we'll get to see the financials!

Did you see BYND the last week or two? They have sales of $88M and they are trading at $6Billion. That is a 68 revenue multiplier and a forward PE of 3,700 compared to TDOC's 10x multiplier. (Just for giggles, if CareClix makes only $10M revenue and had the BYND multiplier, you're looking at $6.8/share. If we had a small 5% net margin and traded at the 3700 PE like BYND we'd be trading at $90 lol, yes Nine-Zero.)

Per TDOC's metrics, CareClix is currently trading under the assumption its a $13M revenue company that is also not profitable. Under BYND's multiplier we're trading as a $2M revenue company.

Just think with a share cancellation, uplist, PRs, financials in the coming weeks to months along with a pretty large short position, we can see our valuations run to epic levels. Hype and FOMO are real, hold on to your shares!

One more tidbit. NUGS, had a 4M float when it made it's massive rally from .06 to $7.50, but it had an O/S of 277M, so it was valued at over $2B before coming back to reality. Ended up retesting that valuation despite having only $50k in revenue (yes thousands). We would be trading at $20 to have an equal $2B valuation. Just food for thought.

[meshuggahman]

Little legal insight...SOLI may have to move for entry of default judgment.

I just reviewed the document that smitter posted (thank you!!) for us. It is possible that SOLI, through its attorney, must make a motion for entry of default judgment. Reading the Notice of Default there is *no* indication that the court "sua sponte" (that is "on its own") shall or even may enter default judgment against the defendant. The Notice explicitly indicates that the Court:

“…will act promptly on *any pending motions* for entry of default judgment…”

The key and important term is "pending motions" and the question is whether there are any "pending motions."

Without a different situation where the court may, "sua sponte" decide and move on its own for an entry of judgment or other action/relief, the opposing party usually must “move the court” and request the relief. The process would be as follows:

1. Order of Default entered (court does that on its own based upon the deadline) and Notice of Default served to the defendant
2. Defendant then has certain number of days to response and make a motion to the court restoring the case so that it can be defended by providing whatever reason deemed sufficient by the court to vacate the default (that was indicated as 30 days from May 20)
3. With the indicates time of 30 days having past, the court “will act promptly on any pending motions for the entry of default judgment.

This all suggests, in my reading, that a Motion for Entry of Default Judgment must be made by the plaintiff (SOLI). There can be no motion for Default Judgment until the defendant is in Default. Yes, defendant is in default…and will remain there until further relief is requested by the opposing party.

I see *no timeframe indicated* for SOLI to make said motion. Now, one would expect/hope that SOLI would make such a motion immediately, to stop defendants from having any window of opportunity whatsoever to request “special relief” from the court to vacate the default prior to the entry of default judgment, however, they may have filed today, they may file Monday, they may file…..???

And I believe I read that the defendant principals are incarcerated or something, correct?? If so, might be a slim chance that they will do anything, however, the above appears to be the present situation, including the fact that Plaintiff must take an affirmative step to request entry of Default Judgment.

Thanks again smitter for posting that Notice…hope this sheds some light!!

Scott

PS. My credentials to provide the above statement…in a previous life (previous, previous life actually!! ;-) ) about 20 years ago I was a practicing attorney and, for a time, clerked for a Presiding Judge who handled all the “procedural motions” such as Summary Judgment and Default Judgment motions for the docket.

PPS. Even an entry of Default Judgment can be vacated in certain circumstances!! I do not have any familiarity with such procedure or possibility in Federal Court or specifically the District Court of Maryland where this is filed.