The answer is easy. The 209 mil shares issued were
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(Total Views: 422)
Posted On: 09/15/2019 10:44:52 AM
The answer is easy. The 209 mil shares issued were not issued to cover a note due on 7/1. There is no payment due or notes maturity on 7/1. There is one on 7/2 and it is still on the books as of Q3.
If you make a comparison between Q2 and Q3 notes, you realized the 209 mil shares were paid to cover the following one year overdue notes issued in 2017, plus taxes.
$10,000, due on 3/24/18
$10,000, due on 8/11/18
$20,000, due 9/5/18
Remember that the Canouses are not a charity organization. They are taking a risk by lending the company money. Would you give the company $45K for six months at an interest rate of 12%, without taking a risk for a 100% return on your investment.....I won't.
Also, if you are the CEO, how would you justify to ask him to wait more. Between 5/1 and 7/1, investors sold over 1.9 billion shares with a B, at the bid, nealing the stock down from 0.001 to 0.0005. The 0.00024 was justifiable at that date based on the 50% discount. Whether it is right or wrong, it is on the books.
The investment community quality is 10 times worse than the CEO himself and it is a domino effect. One guy sells at 20 and start bashing the stock. The stock goes down and another guy sells at 15, then start bashing. One of the last hardcore bashers on the HUB sold at 0.001 and bragging about it, as he wants to change the Universe. We need a new breed of investors with a trustable professional approach by the CEO to lift this company back up.
I will continue to hold long and strong moving forward. This company is worth much more than its current market cap.
If you make a comparison between Q2 and Q3 notes, you realized the 209 mil shares were paid to cover the following one year overdue notes issued in 2017, plus taxes.
$10,000, due on 3/24/18
$10,000, due on 8/11/18
$20,000, due 9/5/18
Remember that the Canouses are not a charity organization. They are taking a risk by lending the company money. Would you give the company $45K for six months at an interest rate of 12%, without taking a risk for a 100% return on your investment.....I won't.
Also, if you are the CEO, how would you justify to ask him to wait more. Between 5/1 and 7/1, investors sold over 1.9 billion shares with a B, at the bid, nealing the stock down from 0.001 to 0.0005. The 0.00024 was justifiable at that date based on the 50% discount. Whether it is right or wrong, it is on the books.
The investment community quality is 10 times worse than the CEO himself and it is a domino effect. One guy sells at 20 and start bashing the stock. The stock goes down and another guy sells at 15, then start bashing. One of the last hardcore bashers on the HUB sold at 0.001 and bragging about it, as he wants to change the Universe. We need a new breed of investors with a trustable professional approach by the CEO to lift this company back up.
I will continue to hold long and strong moving forward. This company is worth much more than its current market cap.
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(2)On4 Communications (ONCI) Stock Research Links
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