I don't care about what hicks did or did not do in 2006 or 2018
Schedule 13G
Trillium Partners LP, where Maple Leaf has control, holds
24,535,149 shares of the Issuer’s common stock,
A convertible note valued at $689,486 (convertible into common stock), and Warrants to purchase 25,000,000 shares of the Issuer's common stock These holdings are subject to a 9.99% ownership limit, meaning that Trillium, and therefore Hicks and Maple Leaf, cannot convert the note or exercise the warrants in a way that would result in more than 9.99% beneficial ownership of the Issuer’s common stock at any given time. Thats' accurate.
Schedule 13G
Based on the details from the Schedule 13G filing, Stephen M. Hicks does not directly own any shares of the Issuer’s common stock. However, he may be deemed to have indirect beneficial ownership due to his role as the manager of Maple Leaf Capital Management LLC, which acts as the general partner of Trillium Partners LP. This is not really relevant, but is accurate.
But this is beyond inaccurate:
To Clarify: NO DILUTION! Shares issued in this context are NOT OFFERINGS. In what context are you referring to? The 13G is merely an ownership disclosure, it isn't a Registration Statement or an exempt offering
It's part of a private offering and, as such, would typically be classified as restricted securities under SEC Rule 144. What's part of a private offering? This means they generally require a minimum holding period of six months for companies subject to SEC reporting requirements (and a one-year period for non-reporting companies) before they can be publicly sold. Ya sure, but that has been long gone for the convertible notes.
That's inaccurate, a 13G must be filled whenever an investor acquires 5% or more ownership (It's supposed to be within 45 days of the Fiscal Year End, but for some reason, Hicks decided to disclose it as it was a Form SC 13D, which requires the disclosure within 10 days of acquiring 10% or more ownership, with exception if a passive investors), REGARDLESS of HOW they were acquired (Private offering, Regulation A offering, S-1 Registration Statement, Conversion of notes, etc). Sometimes the investor mentions how the shares were or could be acquired within 60 days, often they don't. Here, Hicks did not mention how 24,535,149 shares were acquired, but did mention from where future common shares could be coming from, namely the notes and warrants
Furthermore, the 9.99% ownership cap indicates control measures commonly used with restricted placed securities to avoid market disruption. Maybe, I guess.
Please remember that TRILLIUM PARTNERS LP, MAPLE LEAF CAPITAL MANAGEMENT LLC, is an investment management firm. They are not engaging in toxic lending known as "death-spiral" financing. There are NO public records indicating this behavior. Don't make me laugh! Take a look at CZNI/BOMO, all Stephen Hicks, Trillium, Frondeur, etc doing... Also NECA/THBD, there are many others, but I don't remember about them, for now.
Labeling Hicks or his firm as "toxic lenders" is misleading. Terms like "toxic funders" or "death-spiral lenders" typically refer to firms like Asher Enterprises, Magna Equities (now MEF I, LP), and LG Capital Funding, known for high-risk, dilutive financing. Going to send you my medical bills for broken ribs from all the laughing I'm getting from reading you trying to defend Hicks
Nick has been in the industry for years and made a mistake nearly a decade ago, for which he paid the price. Who's Nick?
He’s not a criminal; he took funds and misallocated them, and the SEC fined him for that. Live move on. As a hedge fund manager, Hicks still has the expertise to structure deals and raise capital for M&A activities. He’s still can attract significant investments from high-net-worth individuals and institutions. He normally focuses on large-scale deals, not small ones. Can you point me to a recent Huge M&A deal he did? Think outside of the BOX and make sure you comprehend the Schedule 13G. No offense, but I don't think you fully comprehend these kind of fillings
Don't allow people to use that to manipulate your mind. Nobody should allow anyone to manipulate them with anything, it's our responsibility to do our own DD, read the SEC rules, review the fillings.
I don't want to attack or even argue with you, but you really leave me no choice by telling others that Hicks is not a toxic lender...
Once again, go look at CZNI/BOMO, and come-back and tell us with a straight face that Hicks is not a toxic lender...
That doesn't mean that Hicks goal is to drive AFFU all the way to no bid, that's NOT what I'm saying. That's what he did with BOMO and NECA, but BOMO barely had any revenues and NECA had another Toxic lender in Jeff Canouse, with AFFU it is different.
His goal is to accumulate as much shares as possible, as cheaply as possible. Ideally by selling significantly Higher and converting significantly lower. (But that depends on buying interest)
Remember, he needs to sell every time his ownership reaches 9.99%, after every subsequent conversion, the Shares Outstanding gets bigger, which means that he can then convert and sell more shares in the future.
Was interesting to see such low volume on Friday, I guess he's expecting a catalyst soon, so he decided to keep his shares, for now.
I've no clue what the other lenders are doing, though.
Hope we don't have to wait that much longer before we see another Share Structure Update by the Transfer Agent (Seems like that the TA likes to have them already 2 weeks outdated, which really sucks, but is better than nothing, I guess...)
Oh... Nvm... We got an update... November 1, that's better than nothing...
So, a 42m Increase in Unrestricted and 27m Increase in Held at DTC (On Nov 1)
Admittedly, less than I thought, but that's as of Nov 1, 2024, not as of Nov 8.
Definitely expecting a decent Press Release from the company and the financials for Q3, this week, which should help our case🤞
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