On Friday for the record there was: 318,825 Sh
Post# of 295
(Total Views: 218)
Posted On: 12/07/2019 5:06:13 PM
On Friday for the record there was:
318,825 Shares shown as BOUGHT
38,000 Shares shown as SOLD
4,500 Shares recorded as Other so take you pick
Someone was accumulating shares on Friday.
Unfortunately I can not find Thursdays log but I do know since GCAN has started trading on Sept 18, 2018 and with a float mostly below 20,000,000 there has been 116,598,836 shares traded.
My previous detailed post shows specific numbers.
The Preferred A shares are easy and the numbers have been stated on the ownership and conversion several times. To date there has been NO conversions as these shares are owned by the insiders.
I have worked on the Preferred B shares (see discussion lower in this post) and the subsequent renegotiation of the 4 notes EMET still had balances on. The 4 notes, now designated as NN1 through NN4, cannot be converted for 180 days from October 18, 2019 and are convertible at 65% of the prior 15 days lowest ending market price for conversion calculations. That puts the conversion capability into March 2020. The total of those notes is $25,586,87 and can be paid off within that 180 days time frame. The notes have a 6% per year interest and there is a payoff scale with the 180 day payoff amount being 130% of the Principal and Interest.
The actual Warrant notes were renegotiated into new conversion notes. There are 4 of them. WN1 through WN4. We can go around and around at the renegotiated pricing but I have a thought about why EMET and GCAN came to these final prices but I will save that explanation for later. The simple explanation would be if EMET bought those Warrants for $328,900 (657,800 warrants at .50 per warrant, what would they be able to sell those warrants for and to whom while common shares are much easier to sell)? These 4 notes were all issued October 18, 2019 and all are due on October 18, 2020. They are convertible at 75% of the lowest closing price within 15 days of the conversion notification. None of these notes have been converted as of this date. The entire conversion time frame from notification to the company to the T/A issuing the shares is about 10 days from start to finish. They have 2% per annum payment for interest, a $150,000.00 leak out provision per month and EMET 'can not' own more than 4.99% of the entire issued of the company. At this time that means 1,856,072 shares. My opinion is EMET is going to wait for any conversions because at a 25% discount, they would be sure to lose funds if they tried to introduce these conversion shares into the market without a huge pump or news from the company. See April 15th 2019 for an prime example of this happening. I am suspecting they will wait until the news hits so the buying pressure is reintroduced to GCAN because of the float being only 23,428,917 shares.
The T/A is open and we now have more than 1 person in contact with Luke and Pacific Transfer so any conversions will be known immediately.
Just wanted to provide some more information on the share structure of GCAN and again this is MY DD! Everyone should do their own. Thank you
318,825 Shares shown as BOUGHT
38,000 Shares shown as SOLD
4,500 Shares recorded as Other so take you pick
Someone was accumulating shares on Friday.
Unfortunately I can not find Thursdays log but I do know since GCAN has started trading on Sept 18, 2018 and with a float mostly below 20,000,000 there has been 116,598,836 shares traded.
My previous detailed post shows specific numbers.
The Preferred A shares are easy and the numbers have been stated on the ownership and conversion several times. To date there has been NO conversions as these shares are owned by the insiders.
I have worked on the Preferred B shares (see discussion lower in this post) and the subsequent renegotiation of the 4 notes EMET still had balances on. The 4 notes, now designated as NN1 through NN4, cannot be converted for 180 days from October 18, 2019 and are convertible at 65% of the prior 15 days lowest ending market price for conversion calculations. That puts the conversion capability into March 2020. The total of those notes is $25,586,87 and can be paid off within that 180 days time frame. The notes have a 6% per year interest and there is a payoff scale with the 180 day payoff amount being 130% of the Principal and Interest.
The actual Warrant notes were renegotiated into new conversion notes. There are 4 of them. WN1 through WN4. We can go around and around at the renegotiated pricing but I have a thought about why EMET and GCAN came to these final prices but I will save that explanation for later. The simple explanation would be if EMET bought those Warrants for $328,900 (657,800 warrants at .50 per warrant, what would they be able to sell those warrants for and to whom while common shares are much easier to sell)? These 4 notes were all issued October 18, 2019 and all are due on October 18, 2020. They are convertible at 75% of the lowest closing price within 15 days of the conversion notification. None of these notes have been converted as of this date. The entire conversion time frame from notification to the company to the T/A issuing the shares is about 10 days from start to finish. They have 2% per annum payment for interest, a $150,000.00 leak out provision per month and EMET 'can not' own more than 4.99% of the entire issued of the company. At this time that means 1,856,072 shares. My opinion is EMET is going to wait for any conversions because at a 25% discount, they would be sure to lose funds if they tried to introduce these conversion shares into the market without a huge pump or news from the company. See April 15th 2019 for an prime example of this happening. I am suspecting they will wait until the news hits so the buying pressure is reintroduced to GCAN because of the float being only 23,428,917 shares.
The T/A is open and we now have more than 1 person in contact with Luke and Pacific Transfer so any conversions will be known immediately.
Just wanted to provide some more information on the share structure of GCAN and again this is MY DD! Everyone should do their own. Thank you
(0)
(0)Greater Cannabis Co Inc. (GCAN) Stock Research Links
Scroll down for more posts ▼