Replies to post #79077 on Third Bench Inc (THBD)

[bri123]

F*ck. Short answer- Not good.

Long answer- 1) I think this is the single largest offering I have ever seen. I expected them to do public offerings, but maybe 1 or 2B at a time. Not like this. No intelligent person would do it this way.

2) The stated OS value on the offering is 7,938,541,946, which was the OS on August 31st, but the OS value on the OTC website is 9,257,325,761. So, an increase of 1,318,783,815 shares in the OS in spite of the 3B share public offering from the 1-A/A not receiving qualification until August 10th. It appears they did not move all 3B shares out into the world. The SEC 1-Z for that offering was on Sept. 30th, so they essentially exited the offer early.

3) The offering price is higher than current market price. Every time I have seen this happen, the offering falls through, and you don't see the SEC "QUALIF" form. They then either abandon the offer, or create an amended offer (1-A/A) with different price or number of shares offered.

4) An offering above current market share price may indicate the company knows something we don't, or they are expecting some volume surge in the future, perhaps due to the name change.

5) Because the offering price is above the current market price, no wholesaler would touch it, and even though MM's sometimes do speculative buying, discount brokers rarely do.

6) The huge number of shares they are trying to move in one offering is such that (if they could move it in one block through a wholesaler) could take 6 months or more for all the shares to get out into the hands of retail investors.

7) Companies sometimes time offerings such that the QUALIF should occur shortly after some event they are expecting or previously planned.

8) At the moment we don't have anywhere near the interest in this stock to even come close to absorbing billions of shares without seeing 1's or 2's

I expect massive dumping tomorrow. We will most likely see $0.0004 tomorrow or Wednesday. It should bounce back up though, because only weak hands will dump. This may even be the trigger we need for a year end run.

Hopefully they do the name change quickly, and abandon this offering.

This offering does not become active until we see an SEC "QUALIF" form. An interesting side effect of large offerings is a sharp rebound spike when they are done with the offering (they file the SEC 1-Z) as happened on Sept. 30th.

It is clear they will not be doing a RS within the next 6 months at least.