Just had a long call with Joe. He said the present
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Posted On: 02/21/2020 2:03:58 PM
Just had a long call with Joe. He said the presentation went very well. Over 900 attendees all in 1 room rather than other presentations that get done in multiple rooms so you only have 20-25 people.
He is still planning on paying the dividends on Monday.
Once dividend is paid, S1 will be priced with final numbers and that is the only thing FINRA is waiting on. Otherwise S1 looks good.
Then NGIO S1 will be completed within days and submitted to FINRA. Based on the quick response to the latest S1 GNBT submitted, he expects FINRA approval of NGIO S1 maybe within a week (no guarantee on that). So I asked if he thinks NGIO will be IPO and trading in 2 months and he believes it will be much sooner than that, again no guarantee.
I asked about a shorter borrowing shares and reselling them. He believes that the original owner, that loaned the shares to shorter, will have to give up the dividends to the new buyer thru due bill. So be sure to go into your acct, set up a GTC sell order for you shares at a high price. It is believed that brokerage firms can not loan out your shares with a pending sell order because if the price jumps and gets filled, the brokerage becomes extremely short and would need to buy shares. He said, people allows shares to be loaned out sometimes because they get a 5% interest, but brokers then loan them to shorters for 33%. So be sure your broker is not loaning your shares out.
Also, Discover Fund is pissed because they want the dividends and that is why they are making a stink. They were never part of it and Joe will fight them. They are trying to claim a default and there is no default.
He is going to check his calendar today about Saturday 3/14 and the XFL game @ 2PM at the Meadowlands (Giant's stadium). He thinks he can be up here and would love to go. So again, rjs and I are in. So let me know who else can DEFINITELY go since I will have to buy tickets and at $78/ticket I don't want no shows.
He is still planning on paying the dividends on Monday.
Once dividend is paid, S1 will be priced with final numbers and that is the only thing FINRA is waiting on. Otherwise S1 looks good.
Then NGIO S1 will be completed within days and submitted to FINRA. Based on the quick response to the latest S1 GNBT submitted, he expects FINRA approval of NGIO S1 maybe within a week (no guarantee on that). So I asked if he thinks NGIO will be IPO and trading in 2 months and he believes it will be much sooner than that, again no guarantee.
I asked about a shorter borrowing shares and reselling them. He believes that the original owner, that loaned the shares to shorter, will have to give up the dividends to the new buyer thru due bill. So be sure to go into your acct, set up a GTC sell order for you shares at a high price. It is believed that brokerage firms can not loan out your shares with a pending sell order because if the price jumps and gets filled, the brokerage becomes extremely short and would need to buy shares. He said, people allows shares to be loaned out sometimes because they get a 5% interest, but brokers then loan them to shorters for 33%. So be sure your broker is not loaning your shares out.
Also, Discover Fund is pissed because they want the dividends and that is why they are making a stink. They were never part of it and Joe will fight them. They are trying to claim a default and there is no default.
He is going to check his calendar today about Saturday 3/14 and the XFL game @ 2PM at the Meadowlands (Giant's stadium). He thinks he can be up here and would love to go. So again, rjs and I are in. So let me know who else can DEFINITELY go since I will have to buy tickets and at $78/ticket I don't want no shows.
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.