Your questions might indicate that you don't follow this board or for that matter, stocks in general enough. You asked a few weeks ago about all the selling. Tells me that you have no idea that the company had over $50mil of debt that they converted, removed, or paid for in cash. That is a lot of money and takes a lot of shares to get rid of. As of the last Q, there was roughly $2mil in debt remaining. I think we might see 50bil in OS before all those shares are converted unless the company is able to pay cash for some of that debt.
There is still a lot of preferred C shares that are the unknown issue. C shares could be converted to common, traded for shares in holdco (part of a joint venture between HMBL and some rich guys with business experience) or bought out in cash. I assume that HMBL has been working out a solution to remove these shares. I am guessing that we will still have a few of these shares converted, but most will be removed in a more creative way - share swap, cash buyout... If they just let all the shares convert, it will be a mess.
As for your gotcha question, in about 11 days we should get the 2Q reported. That is what I was talking about. I expect at least some of their inventory to be sold. Could be a lot sold - as much as $32mil. If it is as little as $1mil, we should be golden. All the "experts" here looked at the 1Q and told us how bad things were. It is because they have no idea how to read financials. The resident expert told me to never discuss accounting because he really has no clue what he is talking about. I presented the scenario to AI and AI was able to verify how generally acceptable accounting principles require filing. AI even gave the exact rule so that "expert" could verify how wrong he was. He just got quiet instead.
The income statement lists shares converted for specific expenses in the expense category required. For example, the company recently spent $805k in consulting fees in shares - not cash. The local experts claimed that the company fraudulently pocketed this money because G&A of this size shouldn't exist as a holding company. They were wrong.
I bring this up because a ton of these ongoing costs were paid last Q and are now gone. The balance sheet has to be better than it was in Q1. In subsequent events, a ton more was paid off. That means we will see more of these expenses in Q2. This time it will be more in the balance sheet - things like notes payable (short term debt) as opposed to consulting fees (general expenses). We are told that BRU was completely paid off and some of those final fees will be in the 2Q. This is a really good thing because BRU was costing HMBL big bucks. Bottom line, we will likely get $750k in G&A if that balance was for consulting fees. If that $750k was a buyout or a penalty of some sort, it will hit something else. As the balance sheet becomes very clean, it indicates that revenues can be used more productively - to make the company healthy instead of paying off long and short term debt.
Finally, this could be the very first time in HMBL history when we see no burn rate. A time when HMBL doesn't need to borrow or convert shares to pay it's bills. If it does, the stock should do well even with the bloated OS. We will find out within 2 weeks. If however, we get the Q and there is no income (if they didn't sell any fertilizer and the joint venture didn't provide any income, no consulting income...), we will need to compare the balance sheet with the Q1 balance sheet. There will need to be a major positive change in the balance sheet AND there would need to be an explanation on why no fertilizer was sold, or it will be a sucky Q. If it is sucky, we wait for another Q when those short term and some long term debt will be removed.
I have a feeling that we will see some good things in the Q. For example, I expect to see at least some fertilizer sales. I expect to see some deal with MC (the AI company) beyond what we know now. I expect debt to finally be paid off with the possible exception of the last 2 loans that are not yet due. I expect the preferred C's to be reduced (not eliminated), by at least 20%. These are expectations - guesses. If we don't get these items, someone on here will call me a liar for having a guess. If we do get at least a couple of these things, they will resort to telling us that the auditor is fudging the numbers instead of admitting that the last 4 years of bashing was for nothing.
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