$SGSI retires massive common shares, OS down 50%
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Posted On: 04/26/2018 6:23:38 PM
Re: Uptick Network #89532
$SGSI keeps cranking out the most awesome REAL news, like the 8-K today. Sooner or latter this gaps up 10- 20 times the current price.
https://ih.advfn.com/p.php?pid=nmona&article=77272861
The two top officers, and largest shareholders, just converted 108.5 mil common shares each to permanent Class B Preferred voting shares with a perpetual 51% vote of all voting shares, with no conversion to sell-able common possible.
That changed the OS from 460 mil to 250 Mil shares.
5.1 mil in Revenue by March 31 this year, close to 1 million in profit that quarter per the brand new investor presentation made a day ago.
Just borrowed 1.5 mil in cash, payment due in 12 months (complex, but I would not call it toxic) that my best guess is they will use it Friday with cash on hand,
or from the 5 million revolving receivables line of credit they scored about 10-14 days ago the day after buying ADEX (ADEX has 20 mil in annual revenue, 1 mil in net after tax profits) from ICLD,
to pay off the 12 month old $2 million plus about 1 million dollar notes due this Saturday to ICLD for the purchase of AWS they made 12 months ago (bought AWS which has 10 mil in revenue per year).
If they pay that note(s) off in Cash this friday afternoon, PR it this weekend, or Monday morning, $SGSI could blow up to 5 cents from .006x/.0092 levels it traded at today.
https://ih.advfn.com/p.php?pid=nmona&article=77272861
The two top officers, and largest shareholders, just converted 108.5 mil common shares each to permanent Class B Preferred voting shares with a perpetual 51% vote of all voting shares, with no conversion to sell-able common possible.
That changed the OS from 460 mil to 250 Mil shares.
5.1 mil in Revenue by March 31 this year, close to 1 million in profit that quarter per the brand new investor presentation made a day ago.
Just borrowed 1.5 mil in cash, payment due in 12 months (complex, but I would not call it toxic) that my best guess is they will use it Friday with cash on hand,
or from the 5 million revolving receivables line of credit they scored about 10-14 days ago the day after buying ADEX (ADEX has 20 mil in annual revenue, 1 mil in net after tax profits) from ICLD,
to pay off the 12 month old $2 million plus about 1 million dollar notes due this Saturday to ICLD for the purchase of AWS they made 12 months ago (bought AWS which has 10 mil in revenue per year).
If they pay that note(s) off in Cash this friday afternoon, PR it this weekend, or Monday morning, $SGSI could blow up to 5 cents from .006x/.0092 levels it traded at today.
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